Group 1: Economic Overview - The U.S. GDP growth for Q3 2025 reached 4.3%, surpassing the previous quarter's 3.8% and exceeding market expectations of 3.9%-4.0%, marking the fastest growth in two years [3][4] - The growth was driven by a 3.5% increase in consumer spending, expanded business investments, and stable trade policies, while the core PCE inflation rate rose to 2.9%, indicating some inflationary pressure [3][5] - The Federal Reserve plans to implement only one more interest rate cut in 2026, maintaining a cautious monetary policy stance to balance economic growth and inflation control [5] Group 2: Impact on Chinese Sellers - Strong consumer spending growth in the U.S. presents significant opportunities for Chinese cross-border sellers, particularly in categories like electronics, home decor, and leisure products [6][8] - Increased business investments in the U.S. indicate a rising demand for industrial equipment and digital solutions, creating a favorable environment for Chinese B2B sellers [6] - The stability in U.S. trade policies reduces risks associated with tariffs on Chinese goods, allowing for better long-term inventory planning and pricing strategies [6][8] Group 3: Strategies for Chinese Sellers - Chinese sellers should optimize product positioning and market strategies to align with U.S. consumer trends, focusing on high-demand categories [7][8] - Enhancing supply chain resilience and logistics capabilities is crucial, especially in light of ongoing global supply chain challenges [7][8] - Establishing a local entity in the U.S. can improve brand credibility and operational efficiency, with services like those offered by lngStart facilitating this process [9][10]

不经意晃动手机，软件立即跳转购物页面。最近，有媒体记者实测发现，备受诟病的"摇一摇跳转"广告 乱象依然时有发生，困扰着不少用户。 "摇一摇跳转"广告，即应用程序利用移动设备的传感器，以设备的摇晃等行为判定用户访问意图的交互 广告。相比传统的点击跳转等形式，"摇一摇跳转"精简了用户操作，能够提升广告链接的触发、引流概 率，近些年已成为软件开屏等场景中广告的重要形式。 近年来，相关部门已就乱象开展整治。2022年，在工业和信息化部指导下，中国信通院、电信终端产业 协会联合多家行业重点企业制定标准，针对"摇一摇"动作设备加速度、转动角度、操作时间等作出规 范，并强化明示告知义务。2025年7月，全国网络安全标准化技术委员会发布《网络安全标准实践指南 ——摇一摇广告触发行为安全要求》，明确了"透明性、自主性、个人信息保护"三项基本原则。 一系列举措，遏制了乱象的野蛮生长。但由于一些商家"钻空子"，种种乱象尚未完全杜绝，反而呈现更 多新花样，令人防不胜防。比如，一些应用虽允许用户关闭"摇一摇跳转"，但入口隐蔽不便找寻，甚至 有第三方平台"指导"应用开发者动态调整参数躲避监管。破解这些顽固问题，需要综合运用制度建设、 监 ...

新浪科技讯 12月31日上午消息，近日，三花控股集团与钉钉签订战略合作协议。双方将围绕全球化高 效协同、信息安全体系建设及人工智能技术深度应用三大方向开展合作，助力三花实现全球资源高效调 度、管理决策智能化。 三花控股集团是制冷控制元器件和汽车热管理系统控制元器件制造商，生产基地遍及亚洲、欧洲、北美 等多个国家和地区，全球11大制造基地，旗下产品被广泛应用于新能源汽车。本次合作将搭建三花全球 数字化协同平台，促进总部与海外子公司的高效协同；强化信息安全与数据合规保障，守护核心业务环 节的信息安全；引入AI相关能力，推动业务智能升级与工作方式革新。 三花控股集团是制冷控制元器件和汽车热管理系统控制元器件制造商，生产基地遍及亚洲、欧洲、北美 等多个国家和地区，全球11大制造基地，旗下产品被广泛应用于新能源汽车。本次合作将搭建三花全球 数字化协同平台，促进总部与海外子公司的高效协同；强化信息安全与数据合规保障，守护核心业务环 节的信息安全；引入AI相关能力，推动业务智能升级与工作方式革新。 三花控股集团董事局副主席、三花智控董事长兼CEO张亚波表示："当前AI技术迭代速度快、应用场景 持续拓展，我们需要拥抱AI，钉 ...

据数据统计，按上市日计算，今年1月1日至12月30日，港股已有117家企业上市，较去年同期增加47 家；合计募资规模2856.93亿港元，超过2023年（463亿港元）及2024年（881.47亿港元）IPO募资额的 总和，较去年同期增长224.11%。 从行业分布来看，新兴产业行业公司备受青睐。117家上市新股中，来自医药生物、软件服务、医疗设 备与服务、硬件设备、有色金属行业的最多，分别有20家、19家、8家、7家、7家，硬科技成色十足。 IPO募资规模较高的行业包括电气设备、有色金属、医药生物、汽车与零配件、软件服务、机械、硬件 设备，分别为446.27亿港元、427.81亿港元、288.43亿港元、287.88亿港元、275亿港元、268.44亿港 元、204.86亿港元。 从地区分布来看，今年1月1日至12月30日，上海市有20家企业H股上市，位居榜首；广东省有17家企业 H股上市，排名第二；江苏省有14家企业H股上市，位居第三。从各大城市排名来看，上海有20家企业 H股上市，位居榜首；北京有14家企业H股上市，排名第二；深圳有10家企业H股上市，位居第三。值 得注意的是，深圳赴港上市公司中不乏知名 ...

Core Insights - The year 2025 is projected to be a fruitful year for both A-share and Hong Kong IPO markets, with A-shares seeing 115 new listings and raising over 130 billion yuan, nearly double the total from 2024, while Hong Kong's market had 117 new listings raising over 286 billion HKD, reclaiming the top position globally [1][5]. A-share Market Summary - A-share market had a total of 115 new IPOs in 2025, with a first-time approval rate of 95.61%, marking a slight increase from 100 IPOs in 2024 and halting a three-year decline [3][4]. - The total fundraising amount from these new listings reached approximately 130.97 billion yuan, with significant contributions from hardware, automotive, electrical equipment, machinery, chemicals, and semiconductor sectors [3]. - The leading underwriters for these new IPOs included Guotai Junan Securities, CITIC Securities, and Huatai United Securities, collectively sponsoring over half of the new listings [3]. - The geographical distribution of new listings showed that Jiangsu, Guangdong, and Zhejiang were the top provinces, contributing 28, 21, and 17 new IPOs respectively [3]. Hong Kong Market Summary - The Hong Kong IPO market saw 117 new listings in 2025, the highest since 2021, with total fundraising exceeding 286 billion HKD, marking a significant recovery in market activity [5][6]. - The leading sectors for new listings included pharmaceuticals, software services, and medical devices, with the highest fundraising amounts coming from electrical equipment and non-ferrous metals [6]. - Notably, 19 A-share companies successfully listed in Hong Kong, raising approximately 140 billion HKD, which is nearly half of the total fundraising in the Hong Kong market [6]. Institutional Competition and Policy Changes - The term "institutional competition" emerged as a key theme in 2025, with both A-share and Hong Kong markets implementing reforms to attract technology innovation companies [2][9]. - The A-share market introduced the "1+6" policy to enhance inclusivity for tech firms, while Hong Kong's "Special Line for Tech Companies" was launched to facilitate listings [2][9]. - The reforms aim to create a market ecosystem that can better identify and nurture long-term innovation [11]. Market Dynamics and Valuation Pressures - The booming secondary market led to a "new share" frenzy, with nearly 90% of new A-share listings seeing their prices double on the first day [12]. - However, the rising valuations in the secondary market have created pressure on the primary market, leading to discrepancies in pricing during mergers and acquisitions [13][14]. - Experts noted that the divergence in valuation logic between the secondary and primary markets could lead to stalled transactions, as sellers expect higher prices based on secondary market trends [13][14].

证券日报网讯 12月30日，凌志软件在互动平台回答投资者提问时表示，国内市场开拓方面，公司将在 投行、机构、财富管理等方向上继续发力，加强人工智能、大数据等新兴技术应用，不断为客户提供高 价值的产品和服务，拓展证券行业及其他金融行业的客户。 （文章来源：证券日报） ...

- Southbound funds have expanded significantly, with cumulative net inflows exceeding HKD 50,797 billion since the launch of Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect, reflecting the long-term willingness of domestic investors to allocate cross-border assets[12][17][19] - As of November 2025, Southbound funds' stockholding value reached HKD 6.27 trillion, accounting for 13.05% of the total market capitalization of Hong Kong stocks, marking a nearly ninefold increase from the initial level of 1.47% at the end of 2016[12][15][16] - Southbound funds' trading volume has surged, with its share of Hong Kong stock market transactions exceeding 50%, indicating its growing influence in market pricing[17][19][54] - The behavior of Southbound funds has shifted from "sentiment overflow" to "value-driven," becoming a key force in reshaping the valuation system of Hong Kong stocks[22][25][26] - Southbound funds' industry allocation has evolved from a "finance and real estate-dominated" structure to a diversified model centered on "finance + technology + consumption," supplemented by healthcare and utilities[35][36][37] - Secondary industry allocation reveals Southbound funds' preference for "factorized styles," transitioning from low valuation sectors to growth-oriented industries like technology and new consumption, and later incorporating defensive and resource factors[41][42][43] - Southbound funds have formed a "value-growth-defense" multi-factor combination, reflecting its maturity as a long-term allocation force[49][50][52] - In 2025, Southbound funds' net inflows reached HKD 13,819.1 billion, with daily average trading volume accounting for 47.97% of the Hong Kong stock market's daily average transactions[53][54][56] - Core industries such as non-essential consumption and finance remain the main allocation directions, while technology, healthcare, and energy sectors serve as tactical adjustments[63][65][66] - Southbound funds' stockholding concentration has slightly decreased, with the top 10 holdings accounting for 41.4% and the top 50 holdings accounting for 67.5%, indicating a trend toward internal rebalancing within core assets[73][74][90] - Key stocks with significant net inflows in 2025 include Alibaba-W, Meituan-W, and major financial stocks like China Construction Bank and China Merchants Bank[80][81][92]

每经AI快讯，12月30日，A股"马字辈"个股异动拉升，福龙马午后涨停，万里马、三羊马、天亿马等纷 纷冲高。 （文章来源：每日经济新闻） ...

港股晨报 港股回顾 点，跌幅随即扩大至 247 点，低见 23730 点，其后跌幅 一度收窄至仅 20 点，午后大盘走势偏软，尾盘沽压再 度扩大。截至收盘，恒指收报 23831 点，下跌 145 点或 0.61%；国指收报 9656 点，下跌 47 点或 0.49%，大市 成交进一步减至 827.99 亿。港股通录得净流入资金 4.84 亿，其中港股通(沪)净流入 2.83 亿，港股通(深)净 流入 2.01 亿。板块方面，本地地产、软件、5G 概念板 块跌幅靠前；黄金股逆市走强。 周一港股股指冲高回落，恒生指数收跌 0.71%， 报 25635.23 点；恒生科技指数微跌 0.30%；恒生 中国企业指数微跌 0.26%。市场成交额 2245.08 亿港元。恒生指数成分股中 22 只上涨，67 只下 跌，其中京东健康下跌 3.42%，长和下跌 3.35%。 涨幅方面，比亚迪股份上涨 3.74%；吉利汽车上 涨 3.43%，公司近 30 日累计回购 2243.4 万股， 合计 3.85 亿港元。 美股市场 1. 受科技股下跌拖累，美股周一回落。标普 500 指 数上周刚创历史新高后出现调整，全日下跌 24 点 ...

本文源自：财华网 【财华社讯】数盟资本(08375.HK)今日早间盘中一度涨超110%，截至发稿，涨94.31%，报2.39港元。消 息面上，该公司公布，公司拟配售最多5760万股，相当于经配发及发行配售股份扩大后公司已发行股本 约16.67%。配售价每股配售股份0.99港元，较股份于最后交易日在联交所所报收市价每股1.23港元折让 约19.51%。 配售事项所得款项净额(经扣除所有适用成本及开支，包括配售佣金及征费)将约为5578.4万港元。公司 拟将配售事项所得款项净额约30%用于集团电子元件贸易业务发展；约30%用于集团在软件即服务 ("SaaS")解决方案及创新数码产品方面的业务发展；约30%用于试点算法系统("PAS")的技术升级及研 发；余额将分配用作集团的一般营运资金。 ...