★ 宏观动态 ★ 《基金管理公司绩效考核管理指引》征求意见稿下发，强化盈利比等指标 《基金管理公司绩效考核管理指引》征求意见稿已下发。征求意见稿强化业绩考核、盈利比等指标，多处实现 挂钩。整体定量考核中，要求基金投资收益指标中三年以上中长期指标权重不得低于80%。其中，高管层考 核，基金投资收益指标权重应当不低于50%。基金经理等差异化考核，对主动权益类基金经理，基金产品业绩 指标考核权重应当不低于80%，其中业绩比较基准对比指标考核权重不得低于30%；对负责销售的高级管理人 员及核心销售业务人员，投资者盈亏情况指标考核权重应当不低于50%。 国家网信办：处理重要数据的网络数据处理者应当每年度对其网络数据处理活动开展风险评估 国家互联网信息办公室就《网络数据安全风险评估办法（征求意见稿）》公开征求意见。《征求意见稿》提 到，处理重要数据的网络数据处理者应当每年度对其网络数据处理活动开展风险评估。重要数据安全状态发生 重大变化可能对数据安全造成不利影响的，应及时对发生变化及其影响的部分开展风险评估。鼓励处理一般数 据的网络数据处理者至少每3年开展一次风险评估。 深圳紧急辟谣：网传"318号函"系伪造，已报警 1 ...

（文章来源：每日经济新闻） 每经AI快讯，12月6日，据台铃电动车微信公众号，12月5日，台铃集团与中国质量认证中心（CQC） 正式签署战略合作协议，双方将围绕电动车产品的绿色低碳测评、认证等工作展开合作，共同推动电动 车行业绿色标准的制定和实施。 ...

Group 1 - Yadea Electric Vehicle has launched a new model, the C09, which is priced at 2399 yuan in its JD flagship store [1][4] - The C09 is available in two color options: Khaki Brown and Unicorn Gray, with additional colors to be released later [1][9] - The new model features a front and rear seat design, a front storage basket, and upgraded materials with plastic components accounting for less than 5.5% [1][7] Group 2 - The C09 is equipped with a 400W motor and includes a TCS intelligent traction control system, supporting side stand sensing control and a more precise positioning system with a positioning accuracy of ≤10 meters using the Beidou system [1][7] - Key specifications include a 6-tube controller, Bluetooth digital display, Bluetooth app unlocking, mechanical shock absorption, front and rear drum brakes, and vacuum tires sized 60/100-10 [1][10] - The model also features smart technology such as Bluetooth app integration and side stand sensing [1][11]

中经记者郭阳琛石英婧上海报道 （雅迪针对新国标车型发文致歉。） "铁皮座椅""不能带小孩""超速会急刹""禁止安装后视镜"……12月1日，电动自行车新国标落地实施，新车型 却引发广大消费者对于实用性的担忧。 作为"电驴一哥"，雅迪推出的"毛豆"新国标车型备受关注，目前该车型已在线上渠道暂时下架。"不同版本上 市节奏上缺乏有效衔接，在车型设计上也有一些考虑不周的地方，给一直期待不同需求的消费者带来了不便 与困扰，我们深表歉意。"雅迪方面发文致歉。 《中国经营报》记者从工业和信息化部方面了解到，目前，全国已有100余家企业的600余款车型通过了CCC 认证，正在陆续投放市场，绝大多数都能很好地满足消费者使用需求。 工业和信息化部消费品工业司有关负责人表示，新标准修订的目的是全链条减少和消除电动自行车产生火 灾、交通事故等安全隐患。消费品工业司已指导相关企业抓紧优化产品设计方案，加快生产令消费者满意的 电动自行车产品。 雅迪涉事新车型已下架 连日来，新国标电动自行车陆续投放市场，雅迪旗下新车型"毛豆"被指"不能带小孩""缺乏储物空间"等。 12月5日下午，雅迪方面发布致歉说明。雅迪方面称，近期，网民密切关注"毛豆" ...

Group 1 - Moore Threads officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, becoming the first fully functional GPU company in China to go public, with an IPO price of 114.28 yuan per share and raising 8 billion yuan, resulting in a market capitalization exceeding 300 billion yuan at opening [2] - JD, Meituan, and Taobao Flash Delivery announced voluntary compliance with the national standard for food delivery platform service management, aiming to enhance service quality and protect the rights of merchants, delivery personnel, and consumers [2] - Three major electric vehicle brands, Niu Technologies, Yadea, and Tailg, responded to recent controversies regarding new national standard models, clarifying that misunderstandings about regulations were prevalent and emphasizing their commitment to safety and comfort in their designs [2][6] Group 2 - Some banks, including Hangzhou Bank, have raised deposit interest rates, with new funds for a three-year term now at 1.9%, reflecting a 10 basis point increase, indicating a trend among banks to attract deposits [3] - Major airlines, including Air China, China Eastern Airlines, and China Southern Airlines, extended their free ticket change and refund policy for flights to and from Japan until March 28, 2026, previously set to expire on December 31, 2025 [3] - The market regulator released new national standards for food delivery services, limiting delivery personnel's working hours and requiring breaks to ensure their rights and safety [4][5] Group 3 - BYD's domestic sales have declined, attributed to a decrease in technological leadership and increasing industry homogenization, as stated by Chairman Wang Chuanfu, who emphasized the need for technological breakthroughs to address user pain points [5] - Tasting responded to media reports about store openings and closures, clarifying that the data was inaccurate and providing updated figures on their operational status [6] - The beverage group Hongsheng, led by Zong Fuli, is facing a labor dispute, with a court hearing scheduled for December 11, 2023 [6] Group 4 - Logitech's CEO announced a turnaround in the company's market share in China, achieving over 20% business growth for three consecutive quarters, and plans to integrate AI technology into existing products rather than launching standalone AI hardware [8] - iRobot is facing severe liquidity issues and owes over 2.5 billion yuan to a Chinese contract manufacturer, with a total debt exceeding 3.5 billion yuan, raising concerns about its financial stability [10][11] - Netflix announced a deal to acquire Warner Bros. Discovery's film and streaming business for approximately $827 billion, with the transaction expected to close in the third quarter of 2026 [11]

Group 1 - Pang Donglai is recruiting top talents under the age of 50 with a minimum annual salary of 1 million yuan and at least 60 days of paid leave [4][8] - Tasting responded to media reports about store closures, stating that the data was inaccurate and confirmed they have 11,124 operating stores as of November 2025 [8][9] - iRobot is facing a liquidity crisis and owes over 3.5 billion yuan to its Chinese supplier, Shenzhen Shanchuan Robotics, with a total cash and cash equivalents of only 24.8 million dollars [10][11] Group 2 - Meta has formed a new design team led by former Apple VP Alan Dye to focus on next-generation AI glasses and wearable devices [12] - Midea Group announced its humanoid robot strategy, which includes humanoid, super-humanoid robots aimed at achieving high efficiency and low costs [14] - Logitech's CEO reported a turnaround in the Chinese market with over 20% business growth for three consecutive quarters, emphasizing the integration of AI into existing products [16] Group 3 - Netflix has agreed to acquire Warner Bros. Discovery's film and streaming business for 72 billion dollars, significantly impacting Hollywood's power dynamics [11] - AMD has received permission to export certain MI 308 chips to China, preparing to pay a 15% tax to the U.S. government [11] - The global smart vacuum cleaner market saw a shipment increase of 18.7% year-on-year in the first three quarters of 2025, with Chinese manufacturers dominating the top five positions [28]

Economic and Market Updates - The U.S. stock market saw slight gains with the Dow Jones up by 0.22%, Nasdaq up by 0.31%, and S&P 500 up by 0.19% [5] - International oil prices increased, with WTI crude oil rising by 0.79% to $60.14 per barrel and Brent crude oil up by 0.82% to $63.78 per barrel [6] - The Nasdaq China Golden Dragon Index rose by 1.29%, with notable gains in Chinese concept stocks such as Baidu up over 5% and Global Data up over 4% [5] Corporate Developments - Netflix announced a deal to acquire Warner Bros. Discovery's film studio and streaming business for $827 billion, with a share value of $27.75 per share, expected to close in Q3 2026 [16][17] - Three rare earth permanent magnet companies, including Jinli Permanent Magnet, Zhongke Sanhuan, and Ningbo Yunsheng, have obtained general export licenses, which will streamline their export processes [16] - Tencent launched its latest language model, Tencent HY2.0, which features significant improvements in pre-training data and reinforcement learning strategies [21] Regulatory and Policy Changes - The China Securities Regulatory Commission released a draft for the "Regulations on the Supervision and Administration of Listed Companies," marking the introduction of a dedicated regulatory framework for listed companies [8][9] - The Ministry of Commerce emphasized the promotion of durable goods consumption and the integration of AI in consumer sectors, aiming to enhance consumer experience and stimulate economic growth [7] Industry Trends - The banking sector is witnessing a trend of increasing deposit rates, with Hangzhou Bank raising its three-year fixed deposit rate to 1.9% for new funds [10] - The electric vehicle market is responding to new regulations, with Yadea clarifying misconceptions about its new national standard models, emphasizing compliance and market adaptation [19][20] - SpaceX is reportedly negotiating an internal share sale that could value the company at $800 billion, with plans for an IPO in the second half of next year [26]

Company Movements - "Domestic GPU First Stock" Moore Threads officially listed on the Sci-Tech Innovation Board on December 5, opening with a surge of 468.78% to 650 CNY per share, reaching a peak of 688 CNY per share during trading, with a potential profit exceeding 280,000 CNY per lot, becoming the most profitable new stock of the year, closing at 600.5 CNY per share, up 425.46%, with a total market value of 282.3 billion CNY [5] - Huawei's CEO Ren Zhengfei stated that the company is focusing on the application of large models, big data, and computing power in agriculture, technology industries, and communication technology over the next 3-5 years, emphasizing the importance of AI research within Huawei [6] - BYD's Chairman Wang Chuanfu indicated a decline in domestic market sales this year, attributed to a decrease in technological leadership compared to previous years and user demand issues such as slow low-temperature charging, highlighting the need for technological breakthroughs [6] - Meituan announced the issuance of 30 million weekend consumption vouchers starting December 5, focusing on subsidizing high-temperature food items like hot pot and soup noodles, with a total investment exceeding 100 million CNY [6] - Aowei New Materials announced a plan to purchase the usage rights for ARM embedded software and communication middleware code for 26 million CNY, which constitutes a related party transaction but does not qualify as a major asset restructuring [6] - Yadea Technology Group issued a statement regarding its "Mao Dou" electric vehicle, acknowledging design oversights that caused inconvenience to consumers and expressing apologies [6] Investment News - The Financial Regulatory Administration recently issued a notice adjusting the risk factors for insurance companies' investment in related stocks, seen as a positive signal for the capital market, potentially boosting insurance capital's motivation to allocate equity assets and enhancing market confidence [4] - On December 5, the China Securities Regulatory Commission released the "Regulations on the Supervision and Management of Listed Companies (Draft for Public Comment)," marking the introduction of the first dedicated regulatory administrative law for listed companies in China [4] - On December 5, the A-share market experienced a rally, with non-bank financial stocks surging in the afternoon, particularly in insurance and fintech sectors. The Shanghai Composite Index closed up 0.7% at 3902.81 points, the Shenzhen Component Index rose 1.08%, and the ChiNext Index increased by 1.36%, with a total market turnover of 1.74 trillion CNY. Concepts such as rare earth permanent magnets, non-ferrous metals, controllable nuclear fusion, superconductors, and commercial aerospace showed strong upward momentum [4] - According to data from the World Gold Council, the total holdings of gold ETFs increased to 3932 tons by the end of November, marking the sixth consecutive month of growth, with over 700 tons purchased in 2025, indicating a potential record annual increase in holdings [4] - The Shanghai Futures Exchange and Shanghai International Energy Exchange announced that starting from the close on December 9, the price fluctuation limits for fuel oil, petroleum asphalt, crude oil, and low-sulfur fuel oil futures contracts will be adjusted to 7%, with margin requirements for maintaining positions set at 8% and for general positions at 9% [4]

Group 1 - Premier Li Qiang chaired a State Council meeting to discuss energy conservation and carbon reduction efforts, reviewing administrative law enforcement actions and legislative drafts [3] - The U.S. stock market saw slight gains, with the Dow Jones up 0.22%, Nasdaq up 0.31%, and S&P 500 up 0.19%, driven by large tech stocks [3] - International oil prices rose, with WTI crude oil increasing by 0.79% to $60.14 per barrel and Brent crude oil up 0.82% to $63.78 per barrel [4] Group 2 - The Ministry of Commerce emphasized promoting durable goods consumption and integrating AI with consumer activities to enhance market growth [7] - The China Securities Regulatory Commission released a draft for the "Regulations on the Supervision and Administration of Listed Companies," marking the introduction of specific regulatory laws for listed companies [5] - Several banks, including Hangzhou Bank, raised deposit rates, indicating a temporary strategy to attract deposits amid a general trend of declining rates [8] Group 3 - Netflix announced a deal to acquire Warner Bros. Discovery for approximately $82.7 billion, enhancing its market share and content competitiveness [16][17] - The European Union found the social media platform X, owned by Elon Musk, in violation of transparency regulations, imposing a fine of €120 million [18] - Yadi Electric clarified misconceptions regarding new national standards for electric vehicles, emphasizing compliance and product diversity [19] Group 4 - NIO reported legal actions against malicious online accounts that spread false information about the company, resulting in court-ordered compensation and apologies [27][28] - SpaceX is reportedly negotiating an internal share sale that could value the company at $800 billion, with plans for an IPO in the second half of next year [29]

欧洲和中国电动车制造商正推出更多平价车型，面对这一趋势带来的日益激烈的竞争，特斯拉推出 Model 3标准版以帮助重振市场需求。 智通财经APP获悉，特斯拉(TSLA.US)周五在欧洲市场推出了一款新的低价版Model 3车型。此前数月， 该车型已在美国市场率先上市。 此次行动紧随特斯拉于10月在欧洲推出低价版Model Y跨界车型之后。 截至发稿，特斯拉股价盘前微跌0.05%，报454.31美元。 根据特斯拉官网信息，新款Model 3标准版在德国的定价为37,970欧元(约合44,256美元)，在瑞典的定价 为449,990瑞典克朗(合47,849美元)。目前该车型在美国的售价为36,990美元。 ...