Group 1: Platinum Jewelry Prices - The price of platinum jewelry has surpassed 800 yuan per gram, with the price reaching 815 yuan for foot platinum 999 on December 18 [1] - In the Shenzhen Shui Bei market, the price of platinum jewelry has increased to around 470 yuan per gram, up from approximately 300 yuan in June [1] - On the domestic futures market, platinum futures saw a significant increase, with a closing price rise of 5.32% on December 18 [1] Group 2: Chinese Technology ETFs - The KraneShares China Internet ETF (KWEB) has attracted $2.3 billion in inflows this year, potentially marking its best annual performance since 2021 [1] - The Invesco China Technology ETF (CQQQ) has also seen $2.1 billion in inflows, aiming for its best annual performance in history [1] Group 3: HBM3e and DDR5 Pricing Trends - The price of conventional DRAM has surged due to supply shortages, while HBM3e prices are also rising due to increased orders from GPUs and ASICs [1] - It is expected that the average selling price (ASP) gap between HBM3e and DDR5 will narrow significantly over the next year [1] Group 4: UK Home Security Market Growth - The number of households in the UK using professional home security monitoring services is projected to grow by 31% by 2025, reaching 542,600 households [2] - This growth indicates a significant market shift as consumers increasingly adopt smart technology for home security [2] Group 5: Chinese Photovoltaic Exports - China's photovoltaic product exports saw a total of $24.42 billion from January to October 2025, with a year-on-year decline of 13.2%, a significant improvement from the 34.5% decline in the same period of 2024 [2] - The stabilization of export prices reflects the effectiveness of industry self-regulation [2] Group 6: Hainan Free Trade Port - The Hainan Free Trade Port officially began operations on December 18, with international flight bookings to Haikou for the Spring Festival expected to double year-on-year [2] - Flight bookings for the New Year period also saw significant increases, with a 19% rise for Haikou and a 51% rise for Sanya [2] Group 7: Chow Tai Fook Price Increase - Chow Tai Fook announced a price increase for some products effective December 19, with most products seeing price hikes between 4% and 16% [3] - For example, a gold bracelet weighing approximately 32.35 grams increased in price from 56,800 yuan to 65,800 yuan, reflecting a 15.8% increase [3] Group 8: AI Framework for Disease Treatment - A research team from Jilin University has developed an AI framework called SpatialEx, which integrates spatial multi-omics data to aid in the diagnosis and treatment of diseases like breast cancer and Parkinson's [3] Group 9: MiniMax IPO Plans - MiniMax, a domestic AI model company, has passed the Hong Kong Stock Exchange hearing and plans to list in January 2026, potentially becoming the fastest AI company to IPO globally [6] - The company has served over 210 million users across more than 200 countries and regions [6] Group 10: Corporate Leadership Changes - The CEO of Master Kong, Chen Yingrang, will retire, with Wei Hongcheng appointed as the new CEO effective January 1, 2026 [5] - Wang Weidong has resigned as general manager of Songyang Resources, with Cai Jiantao taking over the position [6]

12月18日，索辰科技涨5.17%，截至发稿，报91.50元/股，成交1.12亿元，换手率2.54%，总市值81.53亿 元。 截至发稿，李浩玄累计任职时间2年364天，现任基金资产总规模34.25亿元，任职期间最佳基金回报 104.24%， 任职期间最差基金回报14.95%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，浦银安盛基金旗下1只基金重仓索辰科技。浦银安盛高端装备混合A（019864）三季度增持 5.22万股，持有股数24.63万股，占基金净值比例为7.11%，位居第三大重仓股。根据测算，今日浮盈赚 取约110.81万元。 浦银安盛高端装备混合A（019864）成立日期2024年3月28日，最新规模1.6亿。今年以来收益53.96%， 同类排名782/8100；近一年收益55.18%，同类排名711/8065；成立以来收益106.48%。 浦银安盛高端装备混合A（019864）基金经理为李浩玄。 资料显示，上海索辰信息科技股份 ...

恒生科技ETF易方达（513010）最新规模超260亿元，在跟踪该指数的产品中居前，流动性较好且支持 T+0交易，为投资者布局港股科技龙头提供了便捷工具。 东吴证券表示，从中长期看，港股AI科技龙头估值处在合理区间，一旦有新的政策或产业催化，资金 启动，恒生科技会有明显反弹。 今日早盘，港股科技板块低开震荡，截至10:03，恒生科技指数下跌1%。近期港股回调吸引资金"跑 步"进场，Wind数据显示，截至12月17日，跟踪恒生科技指数的ETF近一个月合计净流入超200亿元，其 中恒生科技ETF易方达（513010）"吸金"近40亿元。 恒生科技指数由港股上市公司中与科技主题高度相关的、市值最大的30只股票组成，聚焦半导体、机器 人、软件、互联网等科技板块，覆盖AI产业链各环节，权重股包括美团、腾讯控股、阿里巴巴、中芯 国际等龙头企业。从估值来看，指数当前滚动市盈率为23倍，位于2020年发布以来30.6%分位。 ...

Market Overview - The US stock market continued its recent downward trend on December 17, 2025, with major indices under pressure. The S&P 500 index fell approximately 1.2% to close at 6721.43 points, the Dow Jones index decreased by about 0.5% to 47885.97 points, and the Nasdaq index experienced a larger decline of about 1.8% to 22693.32 points [1][5]. Sector Performance - The technology and AI-related sectors were the main contributors to the market's decline, as concerns about long-term returns, capital expenditure intensity, and sustainable financing in the AI industry intensified. High-valuation tech stocks, particularly in chips, software, and cloud infrastructure, faced significant pressure, impacting the S&P 500 and Nasdaq indices [1][5]. - In contrast, the energy sector showed relative resilience, supported by a rebound in oil prices due to geopolitical factors. Defensive and traditional industrial companies also maintained stable stock prices, indicating a shift in investor preference towards valuation and cash flow support in a high-volatility environment [1][5]. Market Drivers - The decline in the US stock market was driven by three main factors: 1. A renewed pullback in the technology and AI themes, as investors became more cautious in evaluating the return on investment and future profitability paths, leading to capital outflows from high-valuation growth assets [2][6]. 2. Ongoing uncertainty in the macroeconomic and policy environment, including the pace of inflation improvement, future policy directions, and geopolitical risks, which made market participants more conservative in their outlook for the US economy and corporate earnings [2][6]. 3. Technical and funding factors, where the market entered an adjustment phase after a previous rebound, leading to increased profit-taking and risk-control trading behaviors, which amplified the downward movement of the indices [2][6]. Structural Opportunities - The market structure indicated that the number of declining stocks significantly outnumbered advancing stocks, with active trading skewed towards selling. There was a noticeable shift in capital flow from tech and high-beta assets to energy, defensive, and some value assets, reflecting a transition from a single-theme-driven market to one that emphasizes fundamentals, valuations, and risk control [3][7]. - Looking ahead, the US stock market may remain in a phase of revaluation and emotional recovery. The future performance of the tech and AI sectors will likely depend on corporate capital expenditure rhythms, profitability realization capabilities, and marginal changes in the financing environment. If macro data shows limited improvement or policy statements remain cautious, the volatility of high-valuation assets may continue to be elevated [3][7].

Group 1 - The core event was the establishment of the Liaoning Province New Industrialization Institute for SMEs, aimed at promoting high-quality development of small and medium-sized enterprises (SMEs) in the region [1][3] - Strategic cooperation agreements were signed between the Liaoning Provincial Department of Industry and Information Technology, CITIC Bank Shenyang Branch, and LiaoShen Bank to enhance support for SMEs [1] - The event featured expert reports on advanced manufacturing concepts, including AI's role in reshaping the manufacturing industry and models for driving SME transformation [3] Group 2 - The collaboration between the Liaoning Provincial Department of Industry and Information Technology and Shenyang University of Technology aims to bridge the gap between academic research and SME development needs [3] - The initiative seeks to create a comprehensive service platform involving government guidance, academic support, and SME participation to enhance the core competitiveness of SMEs in Liaoning [3] - The New Industrialization Institute is envisioned as a source of technological innovation, an accelerator for industrial upgrades, and a hub for high-end talent cultivation, contributing to the high-quality development of SMEs and the new industrialization process in Liaoning [3]

Group 1 - Hebei Expressway Group's "Jihong" smart tunnel solution significantly enhances the interconnection of tunnel electromechanical systems, accident handling efficiency, and driving safety based on the open-source HarmonyOS [1] - Since its official launch in 2020, the open-source HarmonyOS codebase has expanded from 7 million lines to 130 million lines, attracting nearly 10,000 contributors and forming a vast ecosystem across various industries including finance, education, healthcare, and transportation [1] - In Hunan, the HarmonyOS-based system allows real-time monitoring of students' heart rates and physical data during physical education classes, providing intelligent safeguards for their growth [1] Group 2 - The smart ward solution based on open-source HarmonyOS has been deployed in over 20 hospitals, enhancing patient care services through real-time monitoring of vital signs and fluid usage [2] - The "Mine Hong" system in Shanxi Coal Group improves safety and operational efficiency in coal mining, while the "Electric Hong" IoT operating system in Southern Power Grid simplifies on-site operations for maintenance personnel [2] - The open-source nature of HarmonyOS facilitates the integration of heterogeneous devices and data, reducing operational costs and enhancing production efficiency, while promoting collaborative upgrades across the industrial chain [2] Group 3 - The Dalian No. 1 satellite, designed by Dalian University of Technology, represents Liaoning Province's first satellite, utilizing HarmonyOS for high coordination between software and hardware in satellite development [3] - The integration of HarmonyOS in satellite systems significantly improves performance and reliability, contributing to the emergence of a vibrant autonomous aerospace software ecosystem [3] - The transition from digitalization to intelligentization is driven by the deep integration of data and intelligence, providing a robust foundation for the construction of a digital China [3]

Core Viewpoint - Oracle's significant decline has triggered a collective drop in major tech stocks, leading to a more than 400-point drop in the Nasdaq index [1] Group 1: Market Reaction - The Hong Kong stock market opened lower after a brief rebound, with the Hang Seng Index down 0.54%, the Hang Seng China Enterprises Index down 0.62%, and the Hang Seng Tech Index down 1.11% [1] - Major tech stocks experienced a collective downturn, with Xiaomi and Alibaba both falling by 2% [1] Group 2: Sector Performance - Software stocks, automotive stocks, and duty-free concept stocks also declined, with XPeng Motors down 2.3% and China Duty Free Group down 2% [1] - In contrast, some sectors showed resilience, with CICC's stock rising 7% as it plans to merge with Dongxing Securities and Xinda Securities, while biopharmaceutical and high-speed rail infrastructure stocks saw partial gains [1]

一、国际新闻 美国金融市场方面，周三美股三大股指收盘普跌，道指跌0.47%，纳指跌1.79%，标普500指数跌 1.14%，其中特斯拉、博通跌超4%，甲骨文跌超5%。 盘后交易中，美光科技涨幅扩大至9%。 纳斯达克中国金龙指数收跌0.76%，盛丰物流、复朗集团、虎牙等多只中概股跌幅居前。 加密货币市场波动显著，比特币日内经历震荡，先后突破89000美元、90000美元，随后跌破86000美 元，日内跌幅2.21%；以太坊则跌破2800美元，日内跌5.61%。 大宗商品市场表现分化，能源类产品涨幅显著，布伦特原油日内涨3%，现报60.69美元/桶；美国天然气 期货涨超4%，报3.387美元/百万英热。 美俄计划于本周末在迈阿密举行俄乌冲突相关会谈，美国同时允许部分与俄罗斯民用核能相关的交易。 此外，美国向厄瓜多尔派遣军队参与"打击贩毒"行动，并在委内瑞拉问题上动作引发关注，美国保守派 媒体人称委内瑞拉即将爆发战争。 企业动态方面，谷歌正与Meta合作扩大AI芯片软件支持，推动TPU在PyTorch工具上运行以替代英伟达 方案；诺华、罗氏就药品定价与白宫磋商接近达成协议；美联储向花旗集团发出监管通知，要求完善风 ...

华尔街对AI烧钱模式的耐心正在耗尽，甲骨文失去关键支持者的消息，更令市场对科技巨头的高债务 和高支出感到不安…… 周三，美国科技股下跌，消息称甲骨文失去了一个数据中心项目的关键支持者，这重新点燃了投资者对 人工智能公司飙升的支出及其融资债务的担忧。 以科技股为主的纳斯达克综合指数收跌1.81%，收于11月下旬以来的最低水平。甲骨文下跌5.4%。在这 家软件公司股价下跌之前，有报道称，甲骨文在美国数据中心项目的主要支持者Blue Owl Capital将不 会资助密歇根州一个价值100亿美元的数据中心。 自9月初见顶以来，甲骨文股价已下跌近46%，因为华尔街对通过举债建设AI基础设施的不安情绪日益 增长，而该公司正处于这种情绪的漩涡中心。 周三的波动紧随上周的抛售潮，当时的抛售是由甲骨文和芯片制造商博通的收益未达到投资者高昂的预 期所引发的。其他大型科技股周三也纷纷下跌。英伟达下跌3.8%，而Alphabet下跌3.1%。博通下跌 4.5%。 与悲观情绪形成鲜明对比的是，作为英伟达重要供应商的存储芯片公司美光在收盘后给出了看涨的前 景。这家总部位于爱达荷州的集团表示，预计本季度将产生约187亿美元的收入，远高于 ...

Group 1 - The core point of the articles highlights the volatility in the tech sector, particularly driven by Oracle's loss of a key supporter for a major data center project, raising concerns about AI-related spending and debt financing [1] - The Nasdaq Composite Index fell by 1.81%, reaching its lowest level since late November, with Oracle's stock dropping by 5.4% after reports that Blue Owl Capital would not fund a $10 billion data center in Michigan [1] - Oracle's stock has declined nearly 46% since its peak in early September, amid growing unease on Wall Street regarding the financing of AI infrastructure through debt [1] Group 2 - In contrast to the negative sentiment, Micron, a key supplier to Nvidia, provided a bullish outlook, projecting approximately $18.7 billion in revenue for the current quarter, significantly above the market expectation of $14.5 billion, leading to a 3.8% increase in its stock price in after-hours trading [2] - The S&P 500 Index fell by 1.2%, but remains close to the record closing high set last week, as the tech sell-off prompted investors to seek safety in defensive sectors, with consumer staples performing well [2] - Energy was the best-performing sector in the S&P 500, rising over 2%, driven by President Trump's plans to impose a "full blockade" on sanctioned oil tankers entering and leaving Venezuela [2]