相比之下，美股波动性跌至年内低位。 节后首个交易日，避险情绪、供需失衡等因素继续推动资产规模较小的贵金属市场狂欢。相比之下，人工智能AI泡沫 担忧、货币政策不明朗让流动性更好的明星科技股失去了短期进一步上行的动力。 美股波澜不惊 作为节前公布的重磅数据，美国三季度国内市场总值（GDP）表现强劲，但美债利率却未出现相应上扬，美国10年期 国债收益率徘徊在4.17%，10年期与2年期国债利差保持31个基点的正值区间。 BK asset management宏观策略师施罗斯伯格（Boris Schlossberg）在接受第一财经采访时表示，这向市场释放的信号 是：当前货币政策虽处于限制性区间，但并不会进一步收紧，是美元走弱、股市企稳的核心逻辑。他认为，短期内股 市表现近似于 "低波动套息资产"——标普500指数与纳斯达克综合指数保持强势，市场波动性整体受到压制，如恐慌 指数（VIX ）徘徊在年内低点附近。 这与市场对权重人工智能领域的担忧情绪不无关系——过度投资与成本收益失衡。仅OpenAI 一家就计划未来数年投 入1.4万亿美元。科技巨头同样如此，这种 "烧钱换增长"的模式高度依赖外部资金，一旦融资断档便会引发连 ...

【深圳商报讯】(记者詹钰叶)已在A股上市的深圳四方精创（300468）资讯股份有限公司日前向香港联 交所正式递交了上市申请，拟实现"A+H"双平台上市布局。但其招股书及财报揭露公司在客户与供应商 集中度、研发投入、经营状况、合规等方面存在多重隐患。 数据显示，2022年至2024年以及2025年前三季度，四方精创来自前五大客户的销售收入占比分别高达 87.8%、90.1%、93.7%和89.4%，整体呈现攀升态势。 四方精创递交的招股书明确提到"我们的客户集中度较高，收入有相当比例来自少量客户。若任何该等 客户流失或大幅减少与我们业务往来，将对我们的业务及经营业绩产生重大不利影响"。 对于四方精创本次赴港募资，市场有不少关于其"左手分红、右手募资"的质疑声。自其A股上市以来， 持股股东获得了持续且高比例的现金分红。数据显示，2022年至2024年，公司累计实现归母净利润接近 1.6亿元，而同期现金分红总额接近1.2亿元，股利支付率(即分红总额/净利润总额)在75%左右。 ...

Core Viewpoint - The concept of "death line" has gained popularity in the U.S., highlighting the precarious financial situation of many Americans who, despite appearing affluent, are living on the edge of financial ruin due to unexpected expenses [2][4]. Group 1: Financial Vulnerability - Approximately 40% of Americans cannot afford an unexpected expense of $400, indicating a low threshold for financial stability [2]. - Many individuals who become homeless were once part of the middle class, living comfortable lives until faced with a financial emergency [2]. - The average lifespan of homeless individuals in the U.S. is only 3 to 4 years, underscoring the severity of the issue [2]. Group 2: Economic Structure - The U.S. economy is characterized by high spending and low savings, creating a cycle where individuals earn high incomes but still struggle financially [4][9]. - High fixed expenses, including taxes, student loans, and housing costs, significantly reduce disposable income for many Americans [6][8]. - For example, a typical high-income earner may see their income drastically reduced after accounting for taxes and necessary expenses, leaving them with minimal funds for savings or enjoyment [6]. Group 3: Consumer Behavior - The culture of low savings is exacerbated by high inflation, which discourages saving and encourages borrowing for consumption [10][12]. - Many Americans view debt as a rational choice, as saving money in a high-inflation environment leads to wealth depreciation [10]. - The high costs associated with asset ownership, such as property taxes and maintenance fees, further discourage saving and investing [12]. Group 4: Consequences of Economic Rules - A single job loss or health issue can trigger a downward spiral into homelessness, as individuals struggle to meet their financial obligations [14]. - The economic system is described as a "survival of the fittest" scenario, where individuals who fall behind are left to face dire consequences without support [15].

Core Viewpoint - The company plans to transfer its 1.54% stake in Aerospace Science and Industry Financial Co., Ltd. to its controlling shareholder, China Aerospace Science and Industry Corporation, for a transaction price of 138 million yuan, which will help optimize its asset structure and support core business development [1] Group 1 - The company will no longer hold any equity in the financial company after the transaction is completed [1] - The company intends to waive its preferential purchase rights for a 2.01% stake in the financial company that Aerospace Science and Technology Holding Group Co., Ltd. plans to transfer to the Science and Industry Group [1] - The funds obtained from this transaction will be used to support the development of the company's core business [1]

Group 1 - DingTalk has accelerated its AI strategy with the launch of AI DingTalk 1.1 in Shanghai's Jinshan District, following the release of over 20 new AI products, including the world's first AI-designed work intelligence operating system, Agent OS [1] - Jinshan District is promoting an "AI+" industrial transformation, aiming to create a regional AI development hub characterized by active technological innovation and deep application empowerment [1] - DingTalk's CTO stated that the application of AI in enterprises has evolved from being an auxiliary tool to becoming an executor, aligning with national strategies for AI-enabled industrialization and Shanghai's goals for AI+ manufacturing [1] Group 2 - Domestic GPU leader Muxi Co. and Lixing Industrial have partnered with DingTalk, benefiting from Jinshan District's digital transformation policies and DingTalk's digital capabilities [2] - Muxi Co. has implemented DingTalk as its core digital foundation since 2021, enhancing its organizational collaboration and information security through private deployment and data management strategies [2] - Lixing Industrial focuses on intelligent assembly product development for high-end manufacturing, utilizing DingTalk to address collaboration needs and enhance security and AI capabilities starting in 2023 [2]

截至发稿，航天信息市值为195亿元。 每经AI快讯，航天信息（SH 600271，收盘价：10.55元）12月26日晚间发布公告称，公司第九届第五次 董事会会议于2025年12月26日以现场加通讯方式召开。会议审议了《关于公司2025年度工资总额预算分 配方案的议案》等文件。 每经头条（nbdtoutiao）——"祥源系"突然爆雷，上市公司遭波及：遭合作方讨要工程款，工人工资； 公司曾承接祥源系82套房产抵债！知情人士：俞发祥堂妹或也被牵连 2024年1至12月份，航天信息的营业收入构成为：数字政府占比57.86%，企业数字化占比41.38%，其他 业务占比0.76%。 （记者 曾健辉） ...

分析人士指出，公司选择目前的时点进行中期现金分红，预示着公司全年大概率实现扭亏。同时，彰显 公司2025年实现盈利的信心。(燕云) 12月26日晚，千方科技（002373）发布中期现金分红公告，公司拟每10股派现金红利0.2元(含税)，以此 计算合计拟派发现金红利3153万元(含税)，不送红股，不实施资本公积金转增股本。根据公司2025年第 三季度财务报表(未经审计)，2025年前三季度，千方科技实现收入52.56亿元，归母净利润1.89亿元。 ...

（文章来源：证券日报） 证券日报网讯 12月26日，华宇软件发布公告称，华宇软件第九届董事会第四次会议审议通过《关于增 加2025年度日常关联交易预计额度及2026年度日常关联交易预计的议案》。 ...

（文章来源：证券日报） 证券日报网讯 12月26日，北路智控在互动平台回答投资者提问时表示，公司当前聚焦于工业互联网领 域，业务重心主要围绕地下矿山等深地经济场景及智慧化工等场景开展，目前暂未涉及航空航天相关业 务。此外，公司参股的广州爱浦路网络技术有限公司（简称"广州爱浦路"），其核心网产品可应用于保 密通信、卫星通信等领域。广州爱浦路已在南京设立了全资子公司——南京爱浦路卫星通信科技有限公 司，相关信息可通过其官网及工商登记信息查询。 ...

Group 1 - The company is deeply involved in the Beijing Minsheng One Card project, contributing to the completion of the first sample card for a hardware wallet loaded with digital RMB [2] - The company has signed a cooperation agreement with Postal Savings Bank of China Beijing Branch and Agricultural Credit Union to explore application models related to digital RMB [2] - The company is prioritizing the exploration and implementation of loading digital RMB onto social security cards and distributing government subsidies through digital RMB, demonstrating its technical capabilities and promotional readiness [2]