以下文章来源于暗涌Waves ，作者何愚 暗涌Waves . 钱的流向，人的沉浮。36氪旗下投资报道账号。 "不仅关于消费或投资。" 文 ｜ 黑蚁资本 何愚 来源｜ 暗涌Waves（ID：waves36kr） 封面来源 ｜ IC Photo 2026年的1/12即将走完，"暗涌Waves"的"2025尾声"仍在继续。对于中国人来说，农历春节未至，真正的一年似乎总还没走到尽头。有384天的漫长乙巳蛇年 还有两周有余也将收起它绵长的尾，这个新旧交替的时刻，有人想将中国社会长尾中真实的脉动带到人们眼前。 黑蚁资本创始合伙人何愚选择以一份"田野笔记"来参与"2025尾声"。 在这场跨年专题的参与者中，何愚是一个挺特别的存在。当一级市场的"主流"投资人沉浸在AI agent、具身智能的投资热潮里时，他和黑蚁资本的团队走到 了广东佛冈、湖南汨罗、河北安国等地的县镇街头，去发现一个个不在主流语境里的故事。 这也不是黑蚁资本第一次在县域的街头"扫街"了。2021年到2022年，团队就曾深入495个县域，带回了一份在创投圈引起不小反响的县域研究报告。 那为何在三年后重返？ 何愚告诉"暗涌Waves"，他的动机挺简单的：那个市场 ...

亦庄国投是北京经济技术开发区的产业赋能型投资平台，主要聚焦四大主导产业，布局六大未来产业， 协同国家政策导向、区域发展需求与资本市场力量，通过多层次、全链条、跨周期的产业投资与生态构 建，为科技创新和产业发展注入金融动能。 面向2026年和"十五五"发展新阶段，亦庄国投相关负责人表示，将坚定做耐心资本提供者、战略资源整 合者和长期价值守护者，持续推动科技、产业、金融良性循环，助力支撑首都高精尖产业发展。 来源：北京日报客户端 1月26日，记者获悉，北京亦庄国际投资发展有限公司（简称"亦庄国投"）近日在北交所公开发行全国 首单"产业赋能"债券，这同时也是北交所债券市场成立以来首单双期限品种债券。 本期债券发行规模10亿元，其中5亿元为5年期品种，票面利率2.04%；5亿元为10年期品种，票面利率 2.48%。簿记建档采用双向互拨机制，助力各期限产品锁定最优利率，本次发行10年期品种债券利率创 2025年以来北京地区同品种票面利率新低。 该债券由中信证券担任牵头主承销商，中信建投证券、一创投行、中金公司、华泰联合证券为联席主承 销商。作为全国首单"产业赋能"债券，本期募集资金将进一步助力亦庄国投强化专业投资能力， ...

Group 1 - Beijing State-owned Assets Company emphasizes a people-centered development approach and aims to fulfill social responsibilities with the philosophy of "State-owned assets contribute to society, responsibility leads the future" [1] - The company has initiated the establishment of Beijing Data Group to promote market-oriented allocation of data elements, supporting the construction of a global digital economy benchmark city [1] - Beijing State-owned Assets Company is actively involved in building an international technology innovation center and has created a global platform for robot industry exchange, providing quality financial and park services for innovative enterprises [1] Group 2 - The company leverages its financial resource advantages to provide quality financial services for technology innovation enterprises, with a total fund scale exceeding 21 billion yuan [2] - Beijing Guarantee Company supported 2,896 technology innovation enterprises with a new scale of 13.156 billion yuan, while Beijing Securities focuses on key sectors like new generation information technology and integrated circuits [2] - The company promotes green development by creating a national-level green trading platform and constructing a green financial service system, contributing to the construction of a beautiful China [2] Group 3 - Beijing Property Exchange actively serves central and local state-owned enterprises, maintaining a transaction scale of over 10 trillion yuan for several consecutive years [3] - Beijing Securities successfully executed five equity projects with a total scale exceeding 20 billion yuan, aiding in the optimization of state capital layout and industrial integration [3] - The company aims to become a leading state-owned capital investment company, contributing to the modernization of the capital city [3]

人民财讯1月26日电，企查查APP显示，近日，西安工投民生高端装备产业发展股权投资合伙企业(有限 合伙)成立，出资额10亿元，经营范围包含以私募基金从事股权投资、投资管理、资产管理等活动。企 查查股权穿透显示，该合伙企业由西安工业投资集团有限公司、龙里民生产业发展股权投资合伙企业 (有限合伙)等共同持股。 ...

Core Insights - The article discusses the transformation of career paths, entrepreneurial methods, and organizational structures in the context of the rise of AGI (Artificial General Intelligence) [2] - The event organized by Sequoia Scholars and HK YES focuses on the opportunities and challenges presented by AGI for young professionals and entrepreneurs [2] Group 1: Changes in the Tech Industry - The excitement surrounding AI's rise is comparable to the opportunities seen with mobile internet in 2010, creating long-term opportunities across various industries including semiconductors and data centers [11] - The Hong Kong biotech sector has seen significant growth, positively impacting investments and exits in the past year [11] - The innovation environment in Hong Kong has accelerated significantly, moving beyond its traditional image as merely a wealthy financial hub [11] Group 2: New Entrepreneurial Dynamics - The emergence of "super individuals" is expected to shift the structure of society and the nature of work, moving from centralized organizations to individual-driven economies [12] - AI is making communication and information gathering more efficient and flattening traditional hierarchies, leading to a greater emphasis on deep market understanding and positioning for entrepreneurs [13] - Core qualities such as integrity, transparency, and perseverance remain crucial for entrepreneurs, even as the importance of intellectual skills diminishes in the AI era [14] Group 3: Educational Perspectives - The value of traditional education is being re-evaluated, with a focus on personal interests and the learning environment rather than merely obtaining a degree [18][19] - The role of interdisciplinary skills is emphasized, as no single discipline can fully prepare individuals for the complexities of the future [16] - Continuous learning and the ability to adapt are highlighted as essential traits for success in an ever-evolving landscape [20][21]

Core Viewpoint - The forum emphasized the importance of integrating AI into traditional industries, particularly in investment decision-making processes, to drive transformation and create new value growth paths [2][4][8]. Group 1: AI Integration in Business - The CEO of Zero One Everything, Li Kaifu, highlighted that AI 2.0 technology has matured and is now a core productivity driver in businesses, suggesting that traditional industries with a solid digital foundation should accelerate the integration of AI agents into their core operations [2][4]. - Li Kaifu defined "intelligent agents" as systems that can autonomously understand human language commands, break down tasks, and utilize various tools to deliver results, which can significantly enhance investment decision-making processes [6][4]. Group 2: Transformation of Investment Decision-Making - The presentation outlined that AI agents can analyze historical data and provide critical decision support for investment institutions, enabling a more systematic approach to evaluating sub-funds and project selection [6][4]. - Li Kaifu proposed the establishment of a "decision log" mechanism to document core investment hypotheses and the decision-making process, which AI can analyze to improve the rigor and learning capabilities of decision teams [7][4]. Group 3: Future Outlook - Li Kaifu predicted that 2026 would mark the year of large-scale deployment of multiple intelligent agents, transforming the value creation chain in organizations from "one person, one tool" to "one person, one team" [6][4]. - The emphasis was placed on the strategic value of AI for top decision-makers, with a demonstration of a digital governance cockpit designed for investment institution leaders to monitor key information and prioritize tasks effectively [7][4].

白银史上首次突破每盎司100美元历史关口，而在这场史诗级涨势背后，一位科技企业家的惊人押注正 浮出水面。就在白银价格还在30美元区间徘徊时，已有人悄然建仓10亿美元实物贵金属，这笔交易如今 浮盈可能已超250%。 Entrata创始人David Bateman在2025年初透露，他在过去六个月内购买了"接近10亿美元的贵金属"，其 中包括1269万盎司白银，相当于全球年度白银供应量的1.5%。这是一笔完全押注实物的巨额交易，规 模堪比巴菲特在上世纪90年代末的白银投资。 Bateman的交易逻辑建立在对全球货币体系即将崩溃的判断之上。他认为史上最大信贷泡沫即将破裂， 美国未来四年内需要为28万亿美元到期国债再融资，这将引发大规模货币印刷，而特朗普关税政策正在 加速这一进程。 周五，白银飙升至每盎司100美元以上的历史新高，黄金则逼近每盎司5000美元关口。高盛Delta One部 门主管Rick Privorotsky指出，虽然资金流向显示部分投机参与，但主导驱动力仍是结构性的。他强调黄 金首先是央行交易，反映的是美元过度特权的缓慢侵蚀，而非信心的突然丧失。这一判断与Bateman关 于货币体系长期重构的观点 ...

Core Viewpoint - The article highlights the innovative reporting model at CES 2026, showcasing a collaboration between 36Kr and Tongchuang Weiye, which integrates deep reporting, on-site perspectives, and drone technology to enhance coverage of tech events and companies [3][8]. Group 1: Reporting Innovation - 36Kr maintains a timely, in-depth, and cutting-edge reporting style, capturing the latest trends in the tech industry and identifying potential startups with technological capabilities [3][5]. - The collaboration with Tongchuang Weiye and the "Shanpai" column allows for a unique on-site perspective, bringing real-time insights from Las Vegas to domestic audiences [7][8]. - The use of drones for live reporting represents a breakthrough in tech media, providing a fresh and immersive experience for viewers [8][12]. Group 2: Chinese Companies at CES - Chinese startups demonstrated significant advantages in the smart home cleaning sector, leveraging strong R&D and product capabilities to gain market presence [5]. - Approximately 20 Chinese humanoid robot companies participated in CES, surpassing the total from the US, Japan, South Korea, Germany, and the UK combined, indicating China's leadership in the Physical AI era [5][12]. - 36Kr's reporting serves as a window for Chinese brands to reach international markets while also guiding domestic users in understanding global tech trends [5][8]. Group 3: Drone Technology and New Media - The event featured a spectacular drone show by DAMODA, showcasing a V4 system that represents a global first in automated drone charging and performance [10][14]. - The drone displays utilized cultural symbols to create a visually impactful experience, indicating a shift towards a new form of media that transcends language and cultural barriers [12][14]. - This new aerial media format is adaptable to current communication environments, allowing for simultaneous online content generation and extensive social media sharing [12][14]. Group 4: Future Prospects - The conclusion of CES 2026 marks the beginning of a new wave of technological competition and innovation, with expectations for continued collaboration between 36Kr and Tongchuang Weiye in future events [14]. - The partnership aims to deepen content innovation and support entrepreneurial ventures, positioning itself at the forefront of technological advancements [14].

Group 1 - Major investment firms, including BlackRock, TPG Inc., and Temasek, are discussing the potential impacts of rapid changes in U.S. policies on global markets during a private breakfast meeting in Davos [3] - Concerns were raised about the geopolitical tensions arising from the U.S. request for Greenland, indicating possible ripple effects in the market [3] - The current environment in Wall Street reflects a delicate balance of helping clients assess and respond to Trump's policy initiatives without provoking him [3] Group 2 - The recent expressions of insecurity from Germany's largest bank highlight the growing unease among financial institutions regarding the unpredictable nature of U.S. policies [3]

证券日报网1月23日讯，浙江东方（600120）在接受调研者提问时表示，2024年AIC试点扩容，公司联 合杭州市金融投资集团、西湖科创投，由中银资产牵头，在杭州设立了AIC科创基金，东方产融认缴2 亿元，该基金按照项目进度缴款，因为管理设计为双GP模式，各个合作方存在业务磨合，目前立项项 目9个，过会项目3个，一个已完成交割。预计随着磨合期的结束，后续的投资进度会加快。投资阶段 上，鉴于基金由银行系AIC主导，风险偏好相对稳健，投资主要以成长期(B轮及以上)为主，占比或超 70%；少量配置Pre-IPO或扩张期项目。投资方向主要集中在数字经济、人工智能、智能制造等方向。 ...