智通财经APP获悉，国信证券发布研报称，考虑到金蝶国际(00268)为全球领先的SaaS服务商，AI新品 推进顺利，预计2025/2026/2027年公司实现营业收入分别为69.57/79.28/90.59亿元，分别同比增长 11.2%/14%/14.3%，实现归母净利润分别为0.72/3.69/6.34亿元，对应当前PS为6.1/5.35/4.69倍，给予2026 年7-8倍PS，对应估值区间为610.68-697.92亿港元市值，给予"优于大市"评级。 国信证券主要观点如下： 企业管理解决方案完善，积极推进AI落地 公司是全球领先的企业管理云SaaS服务商，构建了覆盖企业全生命周期的数字化解决方案，主要产品包 括企业级AI平台金蝶云苍穹，SaaS管理云星瀚、星空、星辰。公司自2011年开启云转型，2025H1公司 云服务收入占公司收入比重达83.74%。随着订阅模式的成熟，公司收入持续提升，2020-2024年间 CAGR达16.84%，近年来销售毛利率、净利率均有所回升。 信创、更新需求推动软件换代，国产替代仍有较大空间 在ERP换代需求推动下，央国企引领ERP招投标数量上行，并逐渐开始ERP系统的国产 ...

21世纪经济报道记者邓浩 12月5日，证监会主席吴清在中国证券业协会第八次会员大会提到，目前我国居民资产中股票基金等资 产占比约15%，相当于美国30年前水平，在利率中枢下移的当下，居民财富管理服务需求巨大。 比如，威孚高科上市以来累计分红123亿元，是募资总额的3.2倍，实现企业发展与股东收益共生共荣； 立霸股份自上市以来总分红达14.8亿元，实际募资仅2.2亿元，募资分红比超6倍，且"十四五"期间分红 金额逐年增长；奥特维上市5年分红规模已达募资总额的1.8倍，实现"高速成长"与"高额回报"同步推 进。 在股份回购方面，无锡企业同样积极响应。"十四五"期间，67家A股企业实施回购，药明康德以50亿元 回购金额领跑，威孚高科、朗新集团、协鑫能科三家企业回购超5亿元。 今年11月5日，朗新集团发布公告，已完成201.15万股回购股份的注销手续，涉及回购总金额约5100万 元。"十四五"期间，朗新集团共回购总额达5亿元，从回购用途看，一方面用于员工持股计划和股权激 励，另一方面，回购的股份将全部用于注销，减少公司注册资本。 某种程度而言，上市公司是现代财富管理服务的重要标的，也是打造金融强国的微观基础和重要支柱 ...

Core Viewpoint - The partnership between Shengxing Group and Shenzhou Cloud to initiate a CRM system project marks a significant step towards the digital transformation of the company in the metal packaging industry [1] Group Business Growth Perspective - The collaboration focuses on a customer-centric approach, utilizing Management by Objectives (MBO), Lead to Cash (LTC), and Issue to Resolution (ITR) processes to empower the group's strategy, processes, and organization through information technology [3] - The implementation of the CloudCC PaaS platform aims to create an integrated customer marketing service system that manages the entire process from marketing objectives to after-sales quality [3] Company Overview - Shengxing Group, established in 1992 and headquartered in Fuzhou Economic and Technological Development Zone, specializes in the food and beverage industry, producing metal packaging products and providing beverage filling, marketing services, equipment manufacturing, supply chain services, and industrial services [3] - The company has established 31 production bases for tinplate cans, aluminum cans, and beverage filling services across various provinces in China and Cambodia, achieving nationwide coverage and expanding into Southeast Asia [4] Strategic Partnerships - Shengxing Group has formed long-term stable partnerships with numerous well-known domestic and international brands, including Red Bull, Nestle, Coca-Cola, and Starbucks, leveraging its manufacturing capabilities and quality control [4] Mission and Industry Positioning - The company is committed to creating a healthy and enjoyable consumption experience, adapting to the shift from an industrial-led era to a consumer sovereignty era, and focusing on personalized customization and flexible production [5] - Shengxing Group aims to expand its fast-moving consumer goods (FMCG) service chain and build a smart value-added comprehensive service platform in collaboration with partners [5]

Group 1 - A self-driving car from Hello hit a pedestrian in Zhuzhou, Hunan, leading to a temporary suspension of local operations [2] - New Oriental's chairman, Yu Minhong, responded to employee complaints about overtime, stating that he has requested an investigation and is open to addressing valid concerns [4] - Doubao Mobile Assistant denied rumors that it can directly check bank account balances without user authentication, emphasizing that sensitive operations require user confirmation [6] Group 2 - Tony Fadell, known as the "father of the iPod," expressed interest in replacing Tim Cook as Apple's CEO, with some former Apple executives supporting his candidacy [7] - Microsoft shareholders approved a compensation package for CEO Satya Nadella, increasing his pay to $96.5 million from $79.1 million the previous year [9] - OpenAI is reportedly set to release GPT-5.2 on December 9, ahead of schedule, in response to competition from Google's Gemini 3 [9] Group 3 - Meta postponed the release of its Phoenix mixed reality glasses to 2027 to refine details, while also developing next-generation devices [9] - BYD's chairman Wang Chuanfu stated that the company is a leading enterprise that should set a good example and not bully others [9] - The film "Avatar 3" has been postponed to 2026 due to a fire incident in Hong Kong, with its title suffix removed [9] Group 4 - Hollywood unions opposed Netflix's proposed $72 billion acquisition of Warner Bros, warning it could reduce jobs and concentrate power [12] - SpaceX's valuation is expected to double to $800 billion as it plans for an IPO in the second half of next year [13] - Volkswagen plans to invest €160 billion (approximately $186 billion) over the next five years, reflecting a tightening strategy [13] Group 5 - Microsoft is in talks with Broadcom to design custom chips, potentially shifting from its current supplier Marvell [13] - Apple issued a new round of network threat notifications to users in 84 countries to protect against surveillance threats [13] - Meta is planning to cut its Reality Labs budget by up to 30%, potentially leading to layoffs as it shifts focus to AI wearable devices [13] Group 6 - Nvidia's CEO Huang Renxun praised Huawei as one of the world's strongest tech companies [13] - Intel is expected to start manufacturing Apple's A22 standard chips in 2028, using its future 14A process technology [13] - Waymo announced a voluntary recall to update software after its self-driving cars were found to have violated school bus regulations [13] Group 7 - SoftBank is reportedly in talks to acquire DigitalBridge, a private equity firm focused on data centers, as it seeks to capitalize on AI-driven demand [14] - AI wearable company Limitless announced its acquisition by Meta, with its AI voice transcription tool Rewind set to shut down soon [15] - Sai Shen Pharmaceutical completed a $53 million Series B financing round to advance clinical development for CNS diseases [15] Group 8 - Anyi Pu completed nearly $15 million in Series B financing for portable mass spectrometers [15] - The Lynk 03+ TCR racing car was launched at a price of 1.4 million yuan [17] - CounterPoint Research reported that Apple's iPad maintained a dominant position in the global tablet market with a 4% year-on-year increase in shipments [19]

人民财讯12月6日电，豆包手机助手微博12月6日发文称，关注到近日有不少谣言称豆包手机助手可以直 接查询银行卡余额，并跳过认证读取用户信息，对此不实信息说明如下：1.豆包手机助手在用户授权操 作的过程中，并不存在系统权限可以直接跳过密码、人脸识别等类似认证环节，查询过程中需用户手动 完成符合银行App要求的真人检测、密码输入等。2.豆包手机助手仅在用户的要求与授权下帮助用户查 询银行卡余额，其中涉及敏感操作，需用户手动确认。3.现阶段，银行、互联网支付等金融场景，直接 关系用户的资金安全，即便相关敏感操作时手机助手都需用户授权，但审慎起见，豆包手机助手已下线 操作这类APP的能力。 ...

Core Insights - WeChat CRM is an essential tool for modern enterprise management, enhancing interaction between businesses and customers through integrated customer information, order status, and data analysis [2][14] - The tool is particularly beneficial for industries such as retail, e-commerce, and services, improving marketing efficiency and customer loyalty [2][5] Group 1: Functionality and Benefits - WeChat CRM allows for real-time access and updates of customer information, enabling personalized service and improving customer satisfaction [7][12] - The order tracking feature ensures smooth transaction processes and enhances customer trust by providing transparency [7][13] - Data analysis capabilities help businesses extract valuable insights from large datasets, optimizing marketing strategies and improving decision-making efficiency [7][8][12] Group 2: Customer Interaction and Engagement - The platform facilitates seamless communication between businesses and customers, allowing for immediate responses and personalized service [5][10] - Interactive activities such as online surveys and customer feedback collection enhance customer loyalty and provide businesses with better market insights [5][10] - WeChat CRM's private traffic management allows businesses to maintain direct contact with customers, reducing marketing costs and increasing conversion rates [10][15] Group 3: Market Competitiveness - The integration of WeChat CRM into business operations helps companies stand out in a competitive market by improving operational efficiency and customer engagement [14][16] - Small businesses benefit from reduced marketing costs and enhanced customer interaction, leading to increased sales and growth [15][16] - The tool's ability to analyze customer behavior and preferences allows for more targeted marketing efforts, further driving business success [12][14]

近日，以准确预测2008年次贷危机而闻名的"大空头"Michael Burry接受了一档播客节目的访谈。 在对话中，Michael Burry对当前美股市场的展望持极度悲观态度，认为未来几年可能会迎来一场类似 2000年的长期熊市。他判断，由于被动投资（指数基金）占据市场主导地位（超过50%），未来市场下 跌时将是"一体下跌"，在美国很难靠多头仓位保护自己。 Burry将当前的AI投资热潮类比为2000年的"数据传输泡沫"，指出两者都存在资本开支与股市见顶的时 滞。他押注Palantir在两年内会大幅下跌，看空的核心理由是其不合理的估值和不健康的财务结构，特 别是公司在收入不高的情况下，通过大量高成本的股权激励造就了多位亿万富翁，而历史上几乎没有赚 到过真正的利润。 以下为访谈亮点总结： 以下为访谈实录，部分内容有删减： 我认为现在股市的状况不妙，未来几年可能会很糟糕，可能会迎来一段类似 2000 年那 样的长期熊市。 现在，我认为整个市场会一体下跌，在美国很难靠持有多头仓位同时保护自己。 例如，Palantir 现在是 200 美元一股，而我认为它只值 30 美元甚至更低，我就会在执 行价 50 美元的位置 ...

每经头条（nbdtoutiao）——秒光、售罄！银行大额存单成稀缺资源，2%以上产品很难抢，有的门槛高 达1000万元！专家：存款利率或长期下行 （记者 张明双） 每经AI快讯，汉得信息（SZ 300170，收盘价：17.81元）12月5日晚间发布公告称，公司第六届第五次 董事会临时会议于2025年12月5日在公司会议室以通讯方式召开。会议审议了《关于调整公司董事会专 门委员会成员的议案》等文件。 2025年1至6月份，汉得信息的营业收入构成为：软件服务业占比99.93%，其他业务占比0.07%。 截至发稿，汉得信息市值为182亿元。 ...

Vikki的职业生涯始于上市房企管培生，拥有10年品牌营销经验。当地产行业进入存量时代，营销预算缩减、工作价值感削弱， 她选择主动求变。尽管曾获薪资翻倍的offer，但受家庭经商背景影响，Vikki决心创业，初期以餐饮行业过渡并实现盈利，却因 缺乏热爱而重新定位。通过复盘自身优势，她发现短视频试水后大量用户咨询内容营销方法，最终明确方向：为专家型IP及高 信任生意创业者提供获客服务。这一转型历程，体现了其"不纠结一时得失"的人生态度。 以"人带货"为核心构建IP孵化体系 Vikki表示，IP的本质是"人带货而非货带人"，其核心在于建立信任壁垒、降低交易成本。为落实这一理念，她打造了两大核心 产品： 在个体创业浪潮涌动的当下，小鹅通创始人鲍春健发起的《老鲍对话标杆客户》栏目持续聚焦客户实战经验，为行业挖掘可复 制的成长路径。近日，该栏目迎来第554期对话，特邀前上市房企营销人、专家型IP获客教练Vikki，围绕"长期主义创业者如何 靠IP打造商业壁垒"展开深度交流。作为小鹅通生态中坚持高信任商业模式的代表，Vikki从放弃百万年薪到ALL in个人IP孵化， 以"拒绝速成、重真实价值"的理念，依托小鹅通工具实现 ...

2025 年 12 月 5 日 招银国际环球市场 | 市场策略 | 招财日报 每日投资策略 行业及公司点评 全球市场观察 半导体行业 – 宽禁带半导体 – SiC/GaN：驱动新一轮 AI 基础设施升级 我们认为，在碳化硅（SiC）和氮化镓（GaN）的带动下，宽禁带半导体行 业正步入一个全新的、多年持续的增长阶段。汽车电动化依然是核心的长期 驱动力，但更具结构性的新需求前沿正在打开，即 AI 数据中心的电力架构重 构。 行业正从传统 54V 直流供电（DC）加速迈向 800V 高压直流（HVDC）架构， 这一转变对新一代高功率 AI 机架至关重要，而其物理和经济可行性都高度依 赖 SiC 和 GaN 的应用。这一演进正把相关材料的定位，从单纯的"性能增 强器"提升为"关键基础设施组件"，由此形成一个具备高度延续性的投资 主线。我们预计，那些具备规模优势、在 8 英寸晶圆上技术领先、拥有车规 级认证产品管线，并具备系统级解决方案能力的企业，将成为本轮趋势中的 主要受益者。 行业点评 强劲的市场增长。根据 TrendForce 数据，2024 年全球 SiC 功率器件市场规 模约 34 亿美元，同比增长 12%， ...