Core Viewpoint - The company focuses on electronic products and intelligent transportation, engaging in forward-looking research and patent layout based on customer needs and technological accumulation [1] Group 1: Business Focus - The company's main business areas include electronic products and intelligent transportation [1] - In the energy sector, the company is involved in energy storage and integrated systems for microgrids, focusing on multi-energy system optimization and scheduling strategies [1] Group 2: Technological Capabilities - The company has developed software and algorithm capabilities for load and power generation forecasting, which are integrated with existing Battery Management System (BMS) capabilities [1] - The overall solution capability combines "device side + platform side" to enhance operational efficiency [1] Group 3: Application and Deployment - The company has implemented its solutions in its own factories, research centers, and data centers [1] - General capabilities such as battery status assessment, energy control, safety strategies, and system integration can be applied to both vehicle and broader energy scenarios [1] Group 4: Future Disclosure - The company commits to disclosing significant business developments in accordance with legal regulations and encourages stakeholders to pay attention to its periodic reports [1]

国能发资质规〔2025〕109号 各省(自治区、直辖市)能源局、有关省(自治区、直辖市)及新疆生产建设兵团发展改革委、北京市城市 管理委，各派出机构，有关企业和协会： 为贯彻落实党中央、国务院决策部署，进一步强化能源行业公共信用信息管理，推动信用信息归集、共 享和应用，我局研究制定了《能源行业公共信用信息管理办法》,现予印发，自2026年5月1日起施行。 国家能源局 2025年12月4日 能源行业公共信用信息管理办法 登录新浪财经APP 搜索【信披】查看更多考评等级 转自：北京日报客户端 国家能源局关于印发《能源行业公共信用信息管理办法》的通知 目 录 第一章 总 则 第二章 信用信息归集 第三章 信用信息披露 第四章 信用信息应用 第五章 信用修复 第六章 异议处理 第七章 监督管理 第八章 附 则 第一章 总 则 第一条 为规范能源行业公共信用信息管理，推进能源行业信用体系建设，根据《中华人民共和国能源 法》等法律法规，以及《中共中央办公厅国务院办公厅关于健全社会信用体系的意见》等政策文件，结 合能源行业实际，制定本办法。 第二条 本办法适用于能源行业公共信用信息的归集共享、公示、应用、修复、异议处理及相 ...

Core Points - Berkshire Hathaway has increased the salary of new CEO Greg Abel to $25 million, significantly higher than the $100,000 annual salary of his predecessor Warren Buffett, who held the position for over 40 years [1] - Abel, aged 63, officially became CEO on January 1 after serving as Vice Chairman overseeing non-insurance operations for eight years [1] - Abel's compensation includes a salary of $21 million for 2024, $20 million for 2023, and $16 million for 2022, plus a $3 million bonus [1] - Buffett has also granted the same compensation amounts to Ajit Jain, Vice Chairman responsible for insurance operations, from 2022 to 2024 [1] - Buffett, aged 95, has led Berkshire Hathaway for over 60 years, transforming it into a conglomerate with a market value exceeding $1 trillion and nearly 200 businesses [1] - Buffett remains the Chairman of the Board and is one of the wealthiest individuals globally, with Berkshire's executive compensation plan being noted as "different" from most public companies [1] Additional Information - Abel holds approximately $171 million worth of Berkshire stock and sold 1% of his stake in Berkshire Hathaway Energy for $870 million in 2022 [2]

格隆汇1月7日丨胜通能源(001331.SZ)在互动平台表示，公司目前未涉及太空运输或太空采矿相关业 务。 ...

Report Industry Investment Ratings - The report does not provide an overall industry investment rating but gives specific ratings for some individual industries, such as "看多" (Bullish) for glass [1]. Core Viewpoints - The stock index is expected to continue its strong trend in the short - term and may rise further in 2026 due to macro - policy support, inflation recovery, and capital market reforms [1]. - The bond futures are favored by the asset shortage and weak economy, but the central bank has warned of interest rate risks in the short - term [1]. - Metal prices are generally affected by macro - sentiment and supply - demand fundamentals. Some metals like copper, aluminum, zinc, and nickel may show strong trends, while others like alumina may oscillate [1]. - Agricultural products' prices are influenced by factors such as seasonality, supply - demand, and policy. For example, corn is expected to be strong in the short - term [1]. - Energy and chemical product prices are affected by factors like geopolitical conflicts, supply - demand, and cost. For example, the price of crude oil has an upward risk due to geopolitical conflicts [1]. Summary by Industry Macro - Financial - Stock index: Expected to continue a strong trend in the short - term and rise in 2026 with policy support, inflation recovery, and capital inflow [1]. - Bond futures: Favored by asset shortage and weak economy, but short - term interest rate risks are warned [1]. Non - Ferrous Metals - Copper: Higher due to supply disruptions and improved macro - sentiment [1]. - Aluminum: Expected to remain strong with tight supply expectations and positive macro - sentiment [1]. - Alumina: Likely to oscillate as supply has room to release but the price is near the cost line [1]. - Zinc: Price has risen, but the upside space is limited due to fundamental pressure [1]. - Nickel: May be strong in the short - term due to supply concerns and policy uncertainties [1]. - Stainless steel: Expected to be strong in the short - term, with suggestions of short - term long positions [1]. - Tin: Strengthened due to positive macro - sentiment, but the follow - up is affected by market sentiment [1]. - Precious metals: Expected to be strong in the short - term due to geopolitical risks and safe - haven demand [1]. - Platinum and palladium: May have strong and wide - range fluctuations in the short - term, with platinum recommended for long - term long positions or arbitrage [1]. Industrial Metals - Industrial silicon: Capacity is expected to decline in the long - term, with high short - term speculative sentiment [1]. - Polysilicon: Terminal installation increases, and big manufacturers are reluctant to sell [1]. - Lithium carbonate: Rising rapidly in the short - term due to peak season and strong demand [1]. - Rebar and hot - rolled coil: Valuations are not high, and short - selling is not recommended [1]. - Iron ore: Near - month contracts are restricted, but far - month contracts have upward potential [1]. - Ferrous metals: Facing a situation of weak reality and strong expectations, price is under pressure in the short - term but may be affected by supply policies [1]. - Glass: Bullish, with supply - demand support and low valuation [1]. - Soda ash: Follows glass, with limited downside space [1]. - Coke and coking coal: Likely to oscillate widely, with attention on price drops during the price - cut implementation period [1]. Agricultural Products - Palm oil: May reverse due to seasonal factors and policies after the MPOB December data shows a possible short - term negative impact [1]. - Soybean oil: Recommended for long positions in the oil market, with a suggestion of long Y and short P spreads [1]. - Rapeseed oil: May decline due to global supply increase, but beware of short - term rebounds [1]. - Cotton: Currently in a situation of support but lack of drivers, with future attention on policies and weather [1]. - Sugar: Globally oversupplied, with cost support if the price drops further [1]. - Corn: Expected to be strong in the short - term due to low inventory and potential downstream restocking [1]. - Soybean meal: M03 - M05 is expected to be in a positive spread in the short - term, but operation should be cautious [1]. - Pulp: Expected to oscillate between 5400 - 5700 yuan/ton [1]. - Logs: Expected to oscillate between 760 - 790 yuan/m³ [1]. - Livestock: Demand is stable, but capacity needs further release [1]. Energy and Chemicals - Crude oil: Has an upward risk due to geopolitical conflicts, but supply may increase [1]. - Fuel oil: Follows crude oil, with short - term supply - demand contradictions not prominent [1]. - Asphalt: High profit, with supply and demand affected by various factors [1]. - BR rubber: High - inventory operation, with attention on price trends [1]. - PX and PTA: PX has a strong market, and PTA maintains high - level operation [1]. - Ethylene glycol: Rebounded due to supply - side news, with high downstream demand [1]. - Short - fiber: Follows cost fluctuations [1]. - Styrene: In a weak - balance state, with upward momentum depending on overseas markets [1]. - Urea: Limited upside space due to weak domestic demand, but supported by cost [1]. - Propylene: Supply pressure is large, but cost support is strong [1]. - PVC: Future expectations are mixed, with potential capacity reduction [1]. - LPG: Cost - supported, with short - term risk premiums rising [1].

Core Viewpoint - The Energy ETF Guangfa (159945) opened at a slight decline of 0.17%, indicating a mixed performance among its major holdings [1] Group 1: ETF Performance - The Energy ETF Guangfa (159945) opened at 1.192 yuan, reflecting a decrease of 0.17% [1] - Since its establishment on June 25, 2015, the fund has achieved a return of 19.49%, with a recent one-month return of 0.29% [1] Group 2: Major Holdings Performance - China Shenhua opened with an increase of 0.54% [1] - China Petroleum experienced a decline of 1.17% [1] - Shaanxi Coal and Chemical Industry rose by 0.90% [1] - China Petroleum & Chemical Corporation fell by 0.65% [1] - CNOOC saw a decrease of 1.14% [1] - Jereh Group dropped by 0.74% [1] - Yanzhou Coal Mining Company increased by 1.11% [1] - Guanghui Energy remained unchanged at 0.00% [1] - China Coal Energy rose by 0.69% [1] - Shanxi Coking Coal increased significantly by 3.95% [1]

来源：中信证券研究 China Themes 中国主题 2026年投资展望 展望2026年，预计中国宏观经济呈现结构分化下的温和修复态势，全年经济增速或达4.9%，出口保持 韧性，投资逐步回暖，商品消费短期承压。2026年大类资产环境或呈现流动性边际宽松与经济温和修复 的特征，我们推荐商品>股票>债券。我们首推China Themes（中国主题）报告，聚合2026年大类资产展 望、宏观政策及产业投资看点，并梳理各行业重点公司，供投资者参考。 ▍大类资产：2026年大类资产环境或呈现流动性边际宽松与经济温和修复的特征，我们推荐商品>股票 >债券。权益方面，我们预计2026年万得全A全年涨幅5%-10%；港股预计迎来业绩触底反弹+第二轮估 值修复的戴维斯双击行情；美股在中期选举年"财政+货币"双宽松背景下，料将延续基本面增长动能。 债券方面，我们预计10年期中债收益率全年运行区间为1.5%-1.8%，节奏先下后上；10年期美债收益率 或维持3.9%-4.3%的区间波动。商品方面，原油供需格局由过剩转向平衡，布伦特原油全年或在58-70美 元/桶区间震荡；黄金在流动性宽松与地缘风险支撑下延续强势但涨幅趋缓，有望冲击 ...

Group 1 - The performance of the global commodity market is characterized by three distinct trends: oil prices are declining, nickel prices are surging, and gold is steadily increasing [3][4] - Oil prices have dropped by 2% to around $57 per barrel, as traders reassess the potential for a resolution to the Ukraine conflict, which could alleviate energy security concerns in Europe and highlight the oversupply in the oil market [3][4] - Nickel prices have surged over 10%, marking the largest single-day increase in over three years, driven by supply risks from Indonesia and strong market interest in the metal, reflecting expectations for continued growth in the electric vehicle sector [3][4] Group 2 - Gold has shown a moderate increase, remaining above $4,490 per ounce, as investors shift focus from geopolitical events to macroeconomic indicators, particularly upcoming U.S. economic data [4][5] - The current commodity market is experiencing a "logical differentiation," with oil reflecting geopolitical risk and oversupply, nickel driven by strong demand for green technologies, and gold responding to macroeconomic uncertainties [4][5] - Investors are advised to adopt targeted strategies based on their focus areas: caution in oil, opportunities in nickel, and the continued value of gold for asset allocation and risk hedging [5]

（来源：河北新闻网） 河北日报讯（见习记者康晓博）1月6日，国家电投集团综合智慧能源有限公司正式迁址雄安新区，成为 2026年首家落户雄安新区的市场化疏解央企二级子公司。 国家电投集团综合智慧能源有限公司是国家电投集团为适应新型电力系统和新型能源体系建设新要求， 聚焦综合智慧能源产业高质量发展和用户侧综合智慧能源创新，整合相关业务板块组建的专业化公司。 此前，国家电投集团已在雄安新区布局。2018年，国家电投集团雄安能源有限公司注册成立，率先在雄 安新区能源领域开展众多示范项目；2025年8月，国家电投集团雄安基地项目完成土地出让，正加快推 动开工建设；2025年10月，国家电投集团置业项目专业化运营管理平台国电投置业（雄安）有限公司注 册成立。 "国家电投集团的系统性布局是雄安新区以承接疏解带动区域发展、引领科技创新、加速产业集聚的生 动实践。我们坚持一切工作围绕承接疏解、服务疏解、配套疏解、支撑疏解，积极打造市场化、法治 化、国际化一流营商环境，支持疏解企业通过市场机制实现更好发展。"雄安新区商务和投资促进局有 关负责人表示。 目前，雄安新区能源央企集聚效应显著。华能、华电、大唐3家能源央企总部落户雄安， ...

2026年刚开年，全球资本市场就被特朗普狠狠搅了一锅粥。1月3日，美军直接出手抓捕委内瑞拉总统马 杜罗，消息一出，全球金融市场立刻风声鹤唳。 特朗普动手了，资本吓坏了 1月3日清晨，委内瑞拉首都加拉加斯局势骤变，美军突袭逮捕总统马杜罗的消息迅速登上全球头条。这 一突发事件不仅打破了拉美局势的脆弱平衡，也引爆了全球市场的警觉神经。 尽管美国白宫随后声称此次行动"仅针对毒品走私网络"，但特朗普在社交平台上却毫不掩饰其真实意 图,他公开表示，美国将"接管委内瑞拉关键能源资产"，为美国人民赢回"应得的石油资源"。 这番话一出口，市场就明白了：这是赤裸裸的资源争夺，特朗普此举，无疑是将地缘政治当成了经济救 急的工具。 从市场反应看，能源股和军工股短线受益明显，在美国采取军事行动的背景下，军工股同样走高。洛克 希德·马丁和通用动力股价上涨约3%，然而这种短期红利并不能掩盖整体市场的紧张情绪。 美股在消息发布后出现震荡，但随后在能源和金融股带动下收高，道琼斯指数上涨1.23%创下历史新 高。避险情绪同时升温，金价单日上涨近3%，白银涨幅显著，这可不是正常行情。 美股期货盘中剧烈震荡，黄金白银价格飙升，美元指数则一路下滑。眼 ...