来源：市场投研资讯 （来源：汇添小微） 今日市场高开低走，整体收跌。上证综指下跌0.4%，沪深300下跌0.51%，中证800下跌0.6%，中证500 下跌0.85%，创业板指下跌1.12%，中证1000下跌0.63%，全A成交额约1.72万亿元，较上日减少0.02万亿 元。风格上看，金融、稳定表现较好，成长、周期表现较差。 数据来源：wind 01 第一、英伟达2026财年第三季度财报显示，其营收与每股收益均超出华尔街预期，同时对第四季度营收 的指引也高于市场预期。英伟达第三季度营收570.1亿美元，预期551.9亿美元；数据中心营收512亿美 元，预期493.4亿美元；游戏营收43亿美元，预期44.2亿美元；调整后每股收益1.30美元，预期为1.25美 元；英伟达预计第四季度营收约为650亿美元，而分析师此前预期该季度营收为616.6亿美元。 02 第二、荷兰经济大臣发表声明，宣布暂停针对安世半导体的行政令。商务部新闻发言人表示，中方对荷 方主动暂停行政令表示欢迎，认为这是向妥善解决问题的正确方向迈出的第一步，但距离解决全球半导 体产供链动荡和混乱的根源"撤销行政令"还有差距。同时，在荷经济部推动下的企业 ...

Core Viewpoint - The article discusses the transition of the Chinese economy from a phase of demographic and institutional dividends to a new balance focused on quality growth rather than speed, emphasizing the need for higher efficiency, precise distribution, and effective risk management [1] Group 1: Economic Transition - The shift from "high savings, weak consumption" to "strong consumption + strong services" is essential for making the middle-income group a new economic engine [3] - Financial strategies need to evolve from reliance on real estate to embracing innovation and improving livelihoods, with macro-prudential measures to mitigate cyclical fluctuations [3] - The restructuring of rules to balance fairness and efficiency is crucial, including increasing labor income share, enhancing public services, and optimizing the business environment [3] Group 2: Future Outlook - The combination of structural rebalancing and institutional upgrading is expected to accelerate growth on a more stable trajectory, suggesting that a new "Chinese miracle" remains achievable [3] - The departure of demographic dividends is framed not as an end but as the beginning of a "new balance" in the economy [3]