（文章来源：证券日报） 证券日报网讯 1月19日，麦加芯彩在互动平台回答投资者提问时表示，目前人工智能大背景下，电力设 施面临较好的需求，公司2025年中期开始布局该业务，包括产品研发、客户试用、销售体系建设等，目 前进展态势良好。 ...

证券日报网讯 1月19日，中电鑫龙在互动平台回答投资者提问时表示，苏州人工智能算力中心项目目前 正按合同约定与既定计划正常推进，公司将严格遵循企业会计准则和会计政策，根据项目实际完工进度 进行相关财务核算；在项目管理上，公司会执行全流程的风险评估与把控，以保障项目的顺利实施与交 付。 （文章来源：证券日报） ...

证券日报网讯1月19日，瑞迈特（301367）在互动平台回答投资者提问时表示，人工智能技术尚未应用 于公司的产品研发及营销环节，因此暂未产生与人工智能相关的销售额。公司将持续关注行业技术发展 动态，适时将符合发展需求的前沿技术应用于产品创新和业务拓展中，以持续提升公司核心竞争力，如 有重大进展将及时履行信息披露义务。 ...

Group 1 - The core viewpoint of the article highlights the surprising efficiency of the U.S. economy in producing goods and services, providing a buffer for policymakers while raising questions about the underlying drivers of this productivity surge [2][4]. - Morgan Stanley reported a significant increase in non-farm productivity, with an annualized growth rate of 4.9% in Q3, marking a substantial rise from the average of 1.9% over the previous four quarters [2]. - The report suggests that the current productivity increase is largely cyclical, and the true drivers behind this acceleration remain a mystery [2]. Group 2 - The labor market in the U.S. has been characterized by "low hiring, low layoffs," with net job additions nearly at zero over the past five months, averaging only 44,000 new jobs per month, the lowest since 2020 [5]. - Despite reduced hiring, productivity has surged, supported by wealthier households maintaining demand, with consumer spending unexpectedly rising by 3.5% in Q3, primarily driven by service consumption [5]. - The article notes a shift in consumer behavior, with high-income households (earning over $150,000) accounting for 43% of new car purchases, up from 30% five years ago, while lower-income households (earning under $75,000) saw their share drop from 35% to 25% [5]. Group 3 - The rise of artificial intelligence is often seen as a potential factor for productivity improvement, but the report emphasizes cyclical factors instead, indicating that companies are not widely replacing human labor with AI but are correcting previous overhiring [6]. - The surge in productivity has direct implications for monetary policy, reducing the urgency for the Federal Reserve to cut interest rates, with revised predictions pushing the expected rate cuts to June and September [6]. - The report concludes that as long as the unemployment rate remains stable, the Federal Reserve can accept a slowdown in job growth [6].

Core Insights - The competition for the title of "Automobile Capital" in China is intensifying, with Chongqing projected to produce 2.788 million vehicles in 2025, marking a 9.7% increase and solidifying its position as the top city in vehicle production [1] - Chongqing's automotive industry is experiencing a resurgence after a decade, with significant growth in new energy vehicles (NEVs), expected to reach 1.296 million units, a 36% increase [1] - The issuance of China's first L3-level autonomous driving license to Changan Automobile signifies a historic milestone in the large-scale application of intelligent driving technology, positioning Chongqing as a leader in this field [1] Industry Overview - The automotive industry in Chongqing aims to reclaim its status as a leader, having previously reached a peak production of 3.156 million vehicles in 2016 before experiencing a decline to 1.383 million in 2019 [2] - The shift in consumer preferences towards mid-to-high-end vehicles and the rise of NEVs have been pivotal in reshaping the automotive landscape [2] - Changan Automobile's strategic pivot towards electric vehicles, including the "Shangri-La" plan to cease traditional fuel vehicle production by 2025, reflects the industry's adaptation to market demands [3] Company Developments - Changan Automobile's collaboration with Huawei and CATL has led to the launch of new high-end NEV brands, contributing to a projected total vehicle sales of 2.913 million by 2025, with NEV sales expected to reach 1.11 million, a 51.1% increase [3] - Seres, another key player, has transitioned from traditional manufacturing to NEVs, achieving significant growth and profitability, with projected NEV sales of 472,300 units in 2025, a 10.63% increase [5] - The partnerships with Huawei have been crucial for both Changan and Seres, enabling them to leverage advanced technology and market positioning in the competitive NEV sector [6][9] Competitive Landscape - The automotive industry is entering a new competitive phase, with a consensus that the NEV market will see accelerated consolidation, leading to a "淘汰赛" (elimination round) among brands [10] - Chongqing's strategic initiatives, including the development of smart connected vehicles and the establishment of a comprehensive industrial ecosystem, are aimed at enhancing its competitive edge [12] - Other cities, such as Guangzhou, are also intensifying their efforts to reclaim leadership in the automotive sector, highlighting the competitive dynamics at play [13] Challenges and Opportunities - Despite its advancements, Chongqing faces challenges in AI and core technology competitiveness, ranking 14th nationally in AI industry strength, which may hinder its long-term leadership in intelligent driving [15] - The city is focusing on addressing its weaknesses in talent acquisition and technological infrastructure to maintain its position in the evolving automotive landscape [15]

证券日报网讯 1月19日，威奥股份在互动平台回答投资者提问时表示，公司的高压氧舱在脑部康复方面 具备一定的应用潜力。当前，公司正致力于以氧舱为基础，构建一个覆盖健康检测、干预与管理的主动 健康生态。该体系通过脑电等多维度检测手段收集数据，并运用人工智能进行分析与决策，从而给客户 提供包含压力环境、气体、光、声等在内的个性化干预方案。这一发展方向旨在使高压氧舱不仅服务于 脑健康，也能逐步拓展为支持身体多系统健康早期预防与干预的综合性场景载体。 （编辑 丛可心） ...

"稳就业"关乎"稳经济"的大局。2025年12月，中央经济工作会议在部署2026年经济工作时明确要求，实 施稳岗扩容提质行动，切实稳定高校毕业生、农民工等重点群体就业。开年以来，广东作为"我国经济 第一大省"，率先把稳岗扩容提质的要求落到企业用工与人才机制上，一批粤企在校招、实习、技能岗 位补充等方面持续加力，成为稳就业的重要承接端。 腾讯滨海总部大厦。 近日，南都湾财社记者采访了腾讯、比亚迪、研祥集团三家企业，发现"稳就业"的落点正在发生迁移： 从"多招人"转向"招对人、育好人、留住人"。腾讯作为平台企业，将扩招重点更多压在AI等新兴业务 上；比亚迪作为制造业龙头，在产业链扩张中带来多层次岗位增量，并以全周期培养机制稳住队伍；研 祥集团则以"青研社"全周期职业孵化与技术扶贫模式破解人岗适配难题，把"人才流量"沉淀为"技术留 量"。 一 扩招向"新技术、新赛道、新岗位"集中 招聘结构的变化，往往预示着产业趋势的风向。随着大模型产业快速发展，腾讯在2025年开放的校招岗 位覆盖技术、产品、设计、市场、职能等五大类70余种岗位。其中，人工智能、大数据、云计算、游戏 引擎等技术类岗位扩招力度较大，占比超过60%。从 ...

Group 1: Overall ETF Fund Flow Situation - The overall net outflow of the stock ETFs (excluding cross-border) from January 12 to 16, 2026, reached 1412.8 billion, a change of -1436.2 billion compared to the previous week, with a significant outflow of 1545.6 billion occurring on January 15 and 16 alone [12][15] - Money market ETFs have seen continuous net outflows in recent weeks, while A-share industry and thematic ETFs recorded a net inflow of nearly 700 billion in a single week, indicating that individual investors are actively entering the market [15][17] - Hong Kong stock ETFs experienced a net inflow of over 10 billion, continuing the inflow trend, while cross-border industry and thematic ETFs had a net inflow of 104.2 billion, slightly decreasing by 31.6 billion from the previous week [17][21] Group 2: Wide-based/Style/Industry/Sub-sector ETF Fund Flow Analysis - The total net outflow of wide-based ETFs reached 2126.2 billion, with those linked to the CSI 300 index seeing a net outflow of over 1000 billion, while the CSI 500, CSI A500, and other wide-based ETFs also experienced varying degrees of outflow [21][22] - In terms of Smart Beta and major industries, there was a notable inflow in dividend ETFs, particularly in the latter half of the week, while technology and cyclical sectors remain the hottest directions [21][24] - From January 12 to 16, the inflow in the non-ferrous metals sector showed strong sustainability, with software, artificial intelligence, media, and military industries also seeing significant net inflows, although some divergence was observed in the latter half of the week [24][26] Group 3: Representative ETF Fund Flow Overview - The top five ETFs with the highest net inflows from January 12 to 16 were: - Harvest CSI Software Service ETF (75.4 billion) - Southern CSI Shenwan Non-ferrous Metals ETF (63.7 billion) - GF CSI Media ETF (62.7 billion) - Yongying National Satellite ETF (58.0 billion) - Huaxia CSI Electric Grid Equipment Thematic ETF (38.9 billion) - The ETFs with the highest net outflows during the same period included: - Huatai-PB CSI 300 ETF (-475.2 billion) - Huaxia CSI 300 ETF (-269.7 billion) - E Fund Shanghai Stock Sci-Tech 50 ETF (-249.1 billion) - E Fund ChiNext ETF (-239.0 billion) - Huaxia Shanghai Stock 50 ETF (-191.1 billion) [30]

从用工市场信号看，扩招与涨薪正在同步出现。据不完全统计，2025年，比亚迪新发"AI infra算法工程师"岗位平 均月薪上涨超过36%；大疆"工业设计师"岗位平均月薪上涨20%，腾讯"AI 产品经理"岗位平均月薪上涨5.56%。岗 位与薪酬变化背后，指向同一条主线：新技术驱动的岗位需求加速释放，企业在关键岗位上提升吸引力，同时通 过更系统的人才培养与发展通道提高留用率、提升就业质量。 近日，南都湾财社记者采访了腾讯、比亚迪、研祥集团三家企业，发现"稳就业"的落点正在发生迁移：从"多招 人"转向"招对人、育好人、留住人"。腾讯作为平台企业，将扩招重点更多压在AI等新兴业务上；比亚迪作为制 造业龙头，在产业链扩张中带来多层次岗位增量，并以全周期培养机制稳住队伍；研祥集团则以"青研社"全周期 职业孵化与技术扶贫模式破解人岗适配难题，把"人才流量"沉淀为"技术留量"。 扩招向"新技术、新赛道、新岗位"集中 招聘结构的变化，往往预示着产业趋势的风向。随着大模型产业快速发展，腾讯在2025年开放的校招岗位覆盖技 术、产品、设计、市场、职能等五大类70余种岗位。其中，人工智能、大数据、云计算、游戏引擎等技术类岗位 扩招力 ...

服务零售额连续回升 康义进一步告诉《每日经济新闻》记者，2025年，各地区各部门加紧实施更加积极有为的宏观政策，有 效落实存量政策，加力推出增量政策，全力稳就业、稳企业、稳市场、稳预期，有效保障了经济稳定向 好运行，为全年经济社会发展主要目标任务的完成提供了坚实支撑。具体体现在四方面。 1月19日，国务院新闻办公室举行新闻发布会，介绍2025年国民经济运行情况。国家统计局局长康义在 现场介绍，初步核算，2025年全年国内生产总值（GDP）1401879亿元，按不变价格计算，比上年增长 5.0%。这是我国GDP首次跃上140万亿元新台阶。 首先是推动经济平稳运行。2025年，我国加强和改善宏观调控，出台了稳就业稳经济推动高质量发展的 若干举措，统筹用好超长期特别国债、地方政府专项债券、中央预算内投资，加力扩围实施"两新"政 策，加大"两重"项目建设力度，发挥新型政策性金融工具作用，有效对冲了经济下行压力，确保了全年 目标顺利实现。全年以旧换新相关6类商品零售额比上年增长4.1%，比上年加快2个百分点，拉动社会 消费品零售总额增长0.6个百分点；设备工器具购置投资增长11.8%，拉动投资增长1.8个百分点。 记者 ...