Core Viewpoint - In 2025, CK Hutchison Holdings (长和) is undergoing a significant asset restructuring involving over $21 billion, which includes divesting minority stakes in 43 global ports and plans for dual listings of Watsons in Hong Kong and London, aiming to unlock logistics asset value and generate over $19 billion in cash [1][2][3]. Group 1: Asset Restructuring - The restructuring is led by Li Ka-shing and his son, Li Zeju, marking the most substantial asset reorganization in decades, with a transaction scale exceeding $21 billion (approximately HKD 164 billion) [2]. - CK Hutchison is selling minority stakes in 43 global ports, with preliminary agreements formed with consortiums including BlackRock, with the transaction value estimated between $19 billion to $23 billion [3]. - The port asset sale aims to enhance liquidity and reduce exposure to risks associated with trade tensions and geopolitical uncertainties, with an expected cash return of over $19 billion after repaying some shareholder loans [3]. Group 2: Telecommunications and Retail - The telecommunications segment is being evaluated for independent listing or partial sale to convert high capital expenditures in 5G infrastructure into liquid capital, improving balance sheet flexibility [3]. - Watsons Group plans to dual list in Hong Kong and London, aiming to raise at least $2 billion, following an 8% growth in the first half of 2025, seen as a move to capitalize on favorable market conditions [5]. Group 3: Strategic Shifts - The Li family has increased its stake in Cheung Kong Holdings to 49% to strengthen control, with funds shifting from heavy assets affected by geopolitical regulations to lighter asset sectors like AI and biotechnology [2][7]. - The strategy reflects a shift towards "heavy real estate defense and light asset expansion," with a focus on generating liquidity from divesting non-core businesses [6][9]. Group 4: Challenges and Execution - The execution of the $21 billion port transaction is considered challenging due to regulatory approvals and the complexity of cross-border asset transactions [10][11]. - Market perceptions of the restructuring are mixed, with concerns about the potential for "discounting" due to the complexity of CK Hutchison's diversified business structure [13]. Group 5: Future Outlook - The restructuring is viewed as a "capital blood transfusion," allowing the Li family to exchange heavy assets for significant cash reserves, potentially providing strategic flexibility for future growth opportunities [17].

Group 1 - The announcement from the China Certification and Accreditation Administration (CNCA) clarifies the compliance assessment standards and testing methods for harmful substances in electrical and electronic products under the RoHS directive, providing clear guidance for enterprises [1][2][3] - The compliance assessment activities must follow GB/T 26572-2011 or its amendments until December 31, 2025, and transition to GB 26572-2025 starting August 1, 2027 [2][3] - The new RoHS compliance management directory includes 33 products, consolidating the first batch from 12 to 10 and adding 23 new products, effective from the announcement date [5][6] Group 2 - The international standard IEC PAS 63595:2025 for industrial 5G, co-developed by China and Germany, has been officially released, filling a gap in international standards for industrial 5G applications [4] - The standard provides a unified technical specification for deploying and applying 5G technology in industrial environments, covering the entire lifecycle from planning to optimization [4] Group 3 - The international standard IEC 60068-3-14:2025 for climate environment testing has been published, marking the first standard in this field led by China, providing a unified guideline for climate environment testing sequences [8][9] - The standard aims to ensure product quality and reliability through scientifically defined testing sequences, addressing the growing diversity of applications for electrical and electronic products [9] Group 4 - The new national standard for the use of recycled materials in household appliances (GB/T 46730-2025) has been approved and will take effect on May 1, 2026, promoting green and low-carbon development in the industry [11] - The standard emphasizes the selection of recycled materials that meet performance and environmental requirements, establishing a quality control and traceability mechanism throughout the supply chain [11] Group 5 - The draft standard for energy efficiency of crystalline silicon photovoltaic modules and inverters has been submitted for public consultation, with feedback due by December 26, 2025 [12] - This standard outlines energy efficiency levels and testing methods for photovoltaic components, including various types of grid-connected inverters [12]

本次选举职工董事不会导致公司第八届董事会中兼任公司高级管理人员以及由职工代表担任的董事人数 超过公司董事总数的二分之一，符合相关法律法规规范及《公司章程》的规定。 格隆汇12月25日丨中国电信(601728.SH)公布，公司根据有关法律、法规和《公司章程》的规定，经公 司职工代表民主选举，一致同意选举关丽莘女士为公司第八届董事会职工董事，任期与第八届董事会任 期一致。 责任编辑：钟离 财经频道更多独家策划、专家专栏，免费查阅>> ...

Core Viewpoint - China Telecom's Yipay is focusing on building a dual-driven development model of "data technology + payment technology" to support the intelligent upgrade and sustainable transformation of modern industrial chains by 2025 [1] Group 1: Smart Regulatory Capabilities - Yipay is implementing a "penetrating regulation" system, named "Yufeng," which utilizes big data and AI to enhance compliance and risk management [2] - The "Yufeng" system addresses traditional management issues such as data silos and delayed responses, enabling real-time tracking of fund flows and identification of hidden transaction patterns [2] - The system has been successfully applied in over ten central state-owned enterprises, improving governance transparency and risk control effectiveness [3] Group 2: Domestic System Development - Yipay has developed the "Chenji" financial system, achieving 100% domestic production from hardware to software, ensuring the security of the technology supply chain [4] - The "Chenji" system supports high concurrency payment processing and disaster recovery, meeting the highest continuity requirements in the financial industry [4] - It integrates intelligent risk control as a core function, providing a comprehensive solution for financial management and transforming traditional functions into value creation centers [4] Group 3: Payment Technology Integration - Yipay is integrating its payment technology into various business scenarios, enhancing operational efficiency across industries [5] - In retail, the "Cloud Guard" solution combines AI and IoT to enable 24-hour smart operations, reducing labor costs and stimulating nighttime consumption [5] - The company is also enhancing payment convenience for foreign nationals in China by launching an international version of its app and supporting various foreign e-wallets [5]

编辑丨 机器之心 点击下方 卡片 ，关注" 具身智能之心 "公众号 >> 点击进入→ 具身 智能之心 技术交流群 更多干货，欢迎加入国内首个具身智能全栈学习社区： 具身智能之心知识星球（戳我） ，这里包含所有你想要的! 在机器人具身智能领域，视觉 - 语言 - 动作（Vision-Language-Action, VLA）模型正以惊人的速度发展。从 RT-1、Octo 到最新的 π0、GR00T N1，这些集成了大规 模视觉语言模型与机器人控制的系统展现出前所未有的泛化能力。然而，一个被长期忽视的问题正阻碍着 VLA 模型从实验室走向真实世界 —— 推理阶段的不稳 定性。 中国电信集团 CTO、首席科学家、中国电信人工智能研究院（TeleAI）院长李学龙教授联合清华大学、中国科学技术大学团队 直面这一挑战，提出了名为 TACO （Test-time Anti-exploration via pseudo-COunts） 的创新框架。该研究为解决 VLA 推理的不稳定性提供了扎实的理论根基和实践方案，通过在模拟基准和真实机 器人平台上的实验验证了方法的有效性。在 真实机器人实验中，TACO 将任务成功率平均提升 ...

证券代码：601728 证券简称：中国电信 公告编号：2025-037 中国电信股份有限公司 第八届董事会第二十四次会议决议 公 告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 一、董事会召开情况 中国电信股份有限公司（以下称"公司"）于2025年12月24日在北京西城区金融大街31号公司总部618会 议室以现场方式召开了第八届董事会第二十四次会议。本次董事会的会议通知及资料已于会前发送给公 司全体董事。本次会议应到董事9人，实到董事8人，公司独立董事吕薇女士因工作原因无法出席本次现 场会议，委托公司独立董事吴嘉宁先生在本次董事会上对会议议案行使表决权。会议由董事长柯瑞文先 生主持，会议的召开及其程序符合有关法律、法规和公司章程的规定。 二、董事会审议情况 该议案已经公司第八届董事会审核委员会第二十次会议审议通过。 表决结果：赞成票：9票，反对票：0票，弃权票：0票。 （二）批准《关于预计与中国铁塔股份有限公司2026年度关联交易金额上限的议案》 具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn） ...

12月23日，中国移动长三角（苏州）汾湖智算中心项目一阶段5号机房楼主体结构封顶。 该中心投产后，将面向政府、金融、制造及科技等行业，提供数据存储、容灾备份、视觉计算及AI训练推理等解决方案，旨在带动智能硬件、芯片模 组及算力平台等产业链生态，服务国家"东数西算"战略布局。 该中心投产后，将面向政府、金融、制造及科技等行业，提供数据存储、容灾备份、视觉计算及AI训练推理等解决方案，旨在带动智能硬件、芯片模 组及算力平台等产业链生态，服务国家"东数西算"战略布局。 12月23日，中国移动长三角（苏州）汾湖智算中心项目一阶段5号机房楼主体结构封顶。 据了解，该项目位于苏州市吴江区黎里镇，总规划用地约205亩，总投资60亿元，规划建设机架9990个，投运后总算力可达1.5万PFLOPS，。本次封顶 的5号机房楼属于项目一阶段工程，单体建筑面积为2.2万平方米，规划部署智算机架1850个。按照建设进度，一阶段工程计划于2026年6月底全部完 工，同时二阶段工程也已纳入启动规划。 据了解，该项目位于苏州市吴江区黎里镇，总规划用地约205亩，总投资60亿元，规划建设机架9990个，投运后总算力可达1.5万PFLOPS，。 ...

另有接近小红书的第三方人士表示，根据目前所获线索，暂未发现消费者发布的相关内容中存在虚构个人经历等违规情况，有更多线索后会持续进行研判 及回查。 多家媒体报道称，12月23日，云南丽江市古城区文化和旅游局公开发布《关于请小红书平台强化丽江市婚拍领域信息审核监管和监测的函》。文件中提 到，小红书在履行平台信息监测及管理方面的主体责任和审核义务不到位，导致大量消费者为达到其超合理诉求，在企业无过错责任情况下利用平台发布 不实避雷帖、曝光帖等内容，威胁企业退钱退款的情况，企业针对此类不实内容申诉难，造成大量企业商誉受到诋毁，退单退订大面积发生。 针对丽江古城喊话审核"避雷帖"，12月24日，小红书客服回应新京报贝壳财经记者称，小红书一直以来鼓励真诚、真实的经验分享，持续治理虚构个人经 历、夸大不实等违规内容。目前，平台设有多个受理举报及侵权的公开渠道，商家可以对存在争议的笔记内容进行举报并提交证据材料，后续会有平台工 作人员进行审核。若确认内容存在违规行为，平台会尽快处理。 同仁堂致歉 罗永浩吐槽"宽带缩水"，上海电信回应 据丽江市古城区旅拍行业协会调查摸排，截至12月，因不实避雷帖企业退订100余万元，间接损失超 ...

趋势上，南向资金已连续9日净卖出中国移动，累计约72亿港元。 投资要点 中芯国际今日涨3.12%，资金前5日减持374万股，短线仍以流出为主。 华虹半导体今日涨1.64%，资金前5日减持602万股，短线仍以流出为主。 腾讯控股今日涨0.17%，资金前5日加仓307万股，短线仍有回流迹象。 中国移动今日跌0.06%，资金前5日加仓万股，短线延续流出趋势。 注：由于港交所T+2结算，实际为截至两日前的近5日数据 智通财经12月24日讯（编辑 冯轶）据Wind数据显示，南向资金今日半日成交约457.99亿港元，约占恒指成交总额的49.51%。 港股今日横盘震荡，南向资金全天净卖出约11.75亿港元。其中，沪港股通净流出约5.51亿港元，深港股通净流出约6.24亿港元。 个股方面，交易所数据显示，今日南向资金 大幅净买入：中芯国际(00981.HK)4.91亿港元；华虹半导体(01347.HK)1.06亿港元。 大幅净流出：腾讯控股(0700.HK)6.11亿港元；中国移动(00941.HK)7.11亿港元。 | 港股通速递(南向) | | | | | --- | --- | --- | --- | | 沪市港股通（ ...

近5年中央企业研发经费累计超5万亿元 从2025年中央企业经营情况来看，会议透露，今年1至11月，中央企业实现增加值9.5万亿元，同比增长 1.4%。同期，中央企业年化全员劳动生产率81.1万元/人、同比提升3%，营业收现率、营业收入利润 率、年化净资产收益率均保持在合理水平；完成固定资产投资(不含房地产)3.3万亿元、同比增长0.7%。 今年以来，官方持续加强政策供给，中央企业以更大力度强化自主创新。1至11月，中央企业研发投入 8901.6亿元，研发投入强度达到2.62%。97个原创技术策源地取得标志性成果121项。中核集团新一代可 控核聚变实现离子电子"双亿度"，中国电信接通全球首例超1000公里量子密信通话。(完) 来源：中国新闻网 编辑：王永乐 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 中新社北京12月24日电 (记者 庞无忌)中央企业负责人会议12月22日至23日在北京召开。会议透露，"十 四五"期间，中 ...