2025年12月份中国大宗商品价格指数为117.9点，环比上涨3.2%，连续八个月实现环比上升，并创下自2024年6月以来新高。 央视网消息：中国物流与采购联合会1月5日公布，2025年12月份中国大宗商品价格指数为117.9点。从指数运行情况看，大宗商 品市场景气水平继续回升，市场供需两端持续改善，企业信心活力和市场预期向好，为今年经济继续持稳向好运行奠定良好基础。 在中国物流与采购联合会重点监测的50种大宗商品中，2025年12月价格环比上涨的大宗商品有31种。其中，碳酸锂、精炼锡和苹 果涨幅居前，较上月分别上涨15.5%、11.7%和8.5%。 专家表示，2025年中国大宗商品市场总体保持稳中向好态势。展望2026年，尽管仍面临多重挑战，但积极宏观经济政策将为国内 经济和大宗市场的持续恢复提供保障，同时中国经济结构转型升级步伐加快，也将创造新的大宗商品需求，大宗商品市场有望实现更 高质量发展。 分行业看，有色金属价格指数大幅走高，环比上涨4.9%；农产品价格指数涨幅扩大，环比上涨2.5%；矿产价格指数、黑色金属 价格指数和化工价格指数也小幅上行，环比分别上涨0.8%、0.4%和0.3%。 ...

近年来，中国在环境保护方面的重视程度不断提高，尤其是对于不可再生资源的开采，我们不再无节制 地进行过度开发。过度开采不可再生能源不仅会消耗掉宝贵的资源，还可能对我们的未来发展带来负面 影响。因此，我们正在努力寻找替代这些能源的替代品。在这个过程中，我们在柴达木盆地发现了大量 的自然资源。地质学家们在该地区发现了超过四千亿吨的金属盐，这些金属盐的价值已超过九万亿元人 民币。对于我们来说，这是一笔巨大的财富。这些资源足以满足我国未来几十年的需求。同时，专家们 还在柴达木盆地的盐湖中发现了丰富的镁盐和钾盐，这些资源对我们的发展也至关重要。 随着这一发 现的曝光，很多国家对中国的资源表现出了浓厚的兴趣，甚至有些国家对我们发现的资源心生嫉妒，认 为这些资源不应该单独由中国占有，而是应该与全球共享。对于这种提议，我们自然不会予以理会。毕 竟，所有在我国领土内发现的资源，无需与其他国家共享。提出这种要求的国家，往往是由于他们自身 的实力不足。如果我们足够强大，他们根本不会提出这些荒谬的要求。 因此，想要避免这种外部干 扰，我们必须拥有强大的国力。尽管我国近些年的发展确实取得了显著成绩，但我们仍然距离真正的强 大还有一定距离 ...

核[心Ta观bl点e_：Summary] 第一创业证券研究所 一、产业综合组： 证券研究报告 点评报告 2025 年 12 月 31 日 分析师：刘笑瑜 证书编号：S1080525070001 电话：0755-23838239 邮箱：liuxiaoyu@fcsc.com 昨日国家发展改革委、财政部发布关于 2026 年实施大规模设备更新和消费品以 旧换新政策的通知。根据该通知，个人消费者购买手机、平板、智能手表手环、 智能眼镜等 4 类产品，给予 15%补贴，每件补贴不超过 500 元。报废旧车购买 新能源乘用车补贴车价的 12%，汽车置换更新购买新能源乘用车补贴车价的 8%。 同时国家已向地方提前下达 2026 年第一批 625亿元超长期特别国债支持消费品 以旧换新资金计划。总体看，本次消费品补贴发布事件比较靠前，但是补贴强 度和去年保持基本持平，家电单件补贴标准和范围还有所缩小。补贴总额上， 本次的 625 亿也小于去年第一批的 800 亿元，因此 2026 年的补贴政策到目前看 没有明显超预期。 紫金矿业(601899.SH)昨日发布公告，预计 2025 年归属于上市公司股车的净利 润约 510 亿元- ...

此外，再升科技、海南发展、天际股份、福龙马、安通控股等也热度靠前。 航天发展受到市场关注的核心在于商业航天行业整体热度的提升。外部催化因素包括SpaceX计划于2026年上市 的消息披露，以及长征十二号甲首飞的市场预期，这些事件推动了整个商业航天板块关注度的显著上升。 公司自身业务布局与市场热点形成高度契合。航天发展的业务覆盖军工信息化领域的电子对抗、信息安全等细 分赛道，同时参与低轨星座建设项目，在商业航天领域也有重要布局，形成了业务层面的共振效应。 中超控股登上热榜主要受益于新兴产业概念的市场追捧。公司涉及商业航天、航空发动机等热门概念，在当前 市场对商业航天、高端制造等新兴产业领域关注度提升的背景下，获得了资金的重点关注。 今日，A股十大人气热股如下：航天发展、中超控股、神剑股份、泰尔股份、锋龙股份、中国卫星、江西铜业、 白银有色、通宇通讯、平潭发展。 泰尔股份受到关注的原因在于多重热门概念的叠加效应。公司业务涵盖商业航天、工业机器人、新型工业化等 近期市场高度关注的热点领域，特别是新型工业化概念还契合了上海市举行新型工业化推进大会等政策热点。 锋龙股份的热度主要来自于重大资产重组事件。港股人形机器人领 ...

Core Viewpoint - The article highlights the significant progress in the construction of headquarters for central enterprises in Xiong'an New Area, emphasizing its role in alleviating non-capital functions from Beijing and promoting regional development and innovation [1]. Group 1: Project Developments - The headquarters projects for China Agricultural Development Group, China Huadian Corporation, and China Chengtong Holdings Group have commenced in Xiong'an New Area from December 25 to 28 [1]. - As of now, all four central enterprise headquarters from the second batch have started construction in Xiong'an [1]. - The Xiong'an New Area has successfully attracted eight central enterprise headquarters to relocate, demonstrating its effectiveness in the "14th Five-Year Plan" period [1]. Group 2: Regional Development and Innovation - Xiong'an New Area aims to drive regional development through the relocation of non-capital functions, leading to significant advancements in technology and industry innovation [1]. - Currently, over 400 central enterprise branches and more than 4,000 enterprises originating from Beijing have established operations in Xiong'an [1].

与此同时，南非政府正在加快推进出口市场多元化和出口产品结构优化，而非洲大陆自由贸易区建设的 持续推进，也为南非拓展区域市场提供了新的支持。 南非经济分析公司首席执行官兼首席经济学家 贾米恩：美国并不是南非最主要的出口目的地，其市场 仅占南非出口总额的大约7%，因此新增关税造成的影响比较小 。 此外，尽管个别产品面临较高关税，但南非出口到美国的相当一部分关键矿产品获得了豁免，包括铂 金、钯、铑、铬、锰等对美国具有战略意义的矿产资源，这对南非来说也是一个有利因素。 进入2025年以来，全球贸易摩擦加剧，美国对多国加征关税，使得一些新兴经济体的贸易遭受严重影 响。然而在这种情况下，南非的贸易抗住了冲击，展现出很强的韧性。 数据显示，进入2025年以来，尽管面临美国关税政策带来的外部冲击，但南非对外贸易整体保持稳定， 并且已经连续8个月实现贸易顺差。专家分析认为，南非的出口市场相对分散，因此在面对美国关税压 力时，具备一定的缓冲空间。 南非经济分析公司首席执行官兼首席经济学家 贾米恩：南非希望在2030年实现总额3万亿兰特的出口目 标，2024年南非出口额已超过2万亿兰特，所以这一目标并不是难以企及的。 专家同时指出 ...

Core Insights - The total wealth of the 25 richest families globally reached $2.9 trillion, marking the highest level since the inception of the ranking, with an increase of $358.7 billion from the previous year [1] - The entry threshold for the ranking also hit a record high, requiring a minimum of $46.4 billion, an increase of $9.7 billion from last year [1] - The wealth growth is attributed to stock market gains and a rebound in demand for commodities such as metals and pet food, alongside the families' accumulated capital strength, political influence, and business experience over decades [1] Family Rankings - The Walton family retains the top position with a net worth surpassing $500 billion, followed by the Al Nahyan family from the UAE and the Al Saud family from Saudi Arabia [3] - Four families made their debut on the list this year, including the Larrea Mota Velasco family from Mexico, the Luksic family from Chile, the Del Vecchio family from Italy, and the Olayan family from Saudi Arabia [4] - The Chearavanont family, associated with Charoen Pokphand Group, ranks 22nd globally with a net worth of $53.3 billion, an increase of $9.2 billion from the previous year [8][10] Wealth Sources and Business Impact - The Charoen Pokphand Group, founded in 1921, has diversified into various sectors including agriculture, food, retail, telecommunications, real estate, finance, and biotechnology, operating in over 100 countries [10] - The second-generation leader,谢国民, is recognized as the driving force behind the group's international expansion, transitioning it from a regional player to a global business giant [10] - The family is also noted for its contributions to education, healthcare, and environmental initiatives, enhancing its reputation in the international business arena [10]

Group 1 - The core viewpoint of the report indicates that the overall price index for bulk commodities in China is expected to show a trend of low first and high later, stabilizing and recovering, reflecting a healthier and more sustainable economic structure [1] - The average price index for bulk commodities in China for 2025 is projected to be 112.1 points, a slight decrease of 0.1% compared to the previous year [1] - Among the 50 monitored bulk commodities, 10 are expected to see price increases, with notable rises in neodymium oxide (43.4%), refined tin (20.6%), and corrugated paper (18.5%) [1] Group 2 - The non-ferrous price index is expected to stand out with an average of 131 points, an increase of 4.2% year-on-year, driven by high growth in high-tech manufacturing and equipment sectors, alongside supply disruptions from incidents like the mudslide at Indonesia's Grasberg copper mine [1] - The black, energy, chemical, and mineral indices are projected to decline, with average values of 78.8 points, 99.1 points, 102.7 points, and 73.9 points respectively, reflecting decreases of 7.5%, 9.9%, 10.2%, and 10.6% [2] - The agricultural product price index is expected to fluctuate downwards, averaging 96.7 points, a slight decrease of 0.4%, attributed to effective implementation of national food security strategies and balanced supply and demand for key agricultural products [2] Group 3 - The overall stability of the bulk commodity market is highlighted, with a clear transition between old and new growth drivers, supported by government policies aimed at promoting consumption and stabilizing growth [3] - The resilience of the Chinese economy and its substantial domestic demand potential are seen as the strongest foundation for the global bulk commodity market moving forward into 2026 [3] - The conference focused on enhancing international influence and building credible trade rules, discussing future trends, challenges, and opportunities in global bulk commodity trade [3]

高纯石英中试线 高纯石英矿矿石 高纯石英砂 高纯石英中试样品 自然资源部供图 认识"高纯石英矿" 正式成立！随着自然资源部发布《新发现矿种公告》，高纯石英矿被确立为我国第174号矿种，成 为我国又一新矿种。这也是我国"十四五"时期，唯一设立的新矿种。 高纯石英矿是什么？ 我们身边，以二氧化硅为主的石英无处不在。河道的沙子、沙滩的卵石，家居装修用的沙子、厨房 的石英石台面、首饰装饰用的水晶等都是石英。但自然界中，高纯石英矿非常稀有，堪称超级"硅"族。 自然资源部有关负责人告诉记者，高纯石英具有耐高温、耐腐蚀、低热膨胀性、高绝缘性和透光性 等特性，是半导体、光伏等战略性新兴产业必不可缺的关键基础材料，在国家高科技竞争中起着至关重 要的作用。获取高纯石英需要具有高纯石英原料矿石——也就是高纯石英矿。 一种矿产的身份之变，映射出一个国家产业的升级之路。近日，高纯石英矿作为"十四五"时期唯一 新增矿种，正式进入国家矿种序列。过去，高纯石英资源常被笼统归入普通石英矿，如今独立成种，意 味着什么？这将对高端制造产业产生什么影响？ 本次设立确定的新矿种高纯石英矿，是指在当前技术经济条件下，经选矿、提纯可获得高纯石英砂 二氧化 ...

Core Viewpoint - China Metallurgical Group Corporation (China MCC) plans to initiate a share repurchase program of up to 2.5 billion yuan to stabilize market sentiment following a significant drop in stock price due to a major asset sale announcement [2][6]. Group 1: Share Repurchase Plan - The company announced a plan to repurchase A-shares worth no less than 1 billion yuan and no more than 2 billion yuan, with H-shares repurchase capped at 500 million yuan [2][10]. - The repurchase price for A-shares will not exceed 4.90 yuan per share, with a total repurchase quantity estimated between 200 million to 400 million shares, representing approximately 0.98% to 1.97% of the company's total share capital [10][11]. - The funding for the repurchase will come from the company's own funds, with the total repurchase amount accounting for only 0.25% of total assets, 1.31% of net assets attributable to shareholders, and 3.81% of cash funds [12]. Group 2: Background of Asset Sale - The repurchase plan follows a major asset sale announcement on December 8, where China MCC intends to sell multiple assets for 60.676 billion yuan to its controlling shareholder, China Minmetals, and related parties [6]. - The assets being sold include 100% equity of MCC Real Estate and various other significant assets, with the aim of focusing on core business areas such as metallurgical engineering and non-ferrous metal mining [6][7]. - The evaluation of the assets showed a stark contrast, with MCC Real Estate experiencing a 45.18% impairment, while mining-related assets like Huaye Duda saw a substantial appreciation of 789.57% [6]. Group 3: Market Reaction - Following the asset sale announcement, China MCC's stock price plummeted, with A-shares hitting the daily limit down and Hong Kong shares dropping by 21% [8]. - Investors expressed concerns that the divestiture of high-value mining resources could fundamentally alter the company's business structure, shifting its identity from a resource-based enterprise to a primarily engineering contracting firm, potentially impacting long-term profitability [7].