银河证券首席策略分析师杨超对第一财经记者称，今年春晚的科技元素（机器人、AI云、无人机/低空 经济）对节后A股相关领域的影响，主要体现在短期情绪催化与长期产业趋势强化。尤其是机器人板 块，春晚"霸屏"或驱动短期情绪，产业链公司将受关注。 春晚科技元素点燃A股赛道猜想，马年首个交易日来临，A股将如何演绎备受市场关注。 关于上述境内外宏观因素和市场表现对A股市场的影响，杨超分析称，一方面，地缘政治因素对市场具 有强扰动，美伊谈判或助推美元指数短期震荡上行，压制全球市场；同时，地缘影响对石油石化、贵金 属板块（美元定价逻辑弱化）具有强脉冲效应。另一方面，美元短期提振预期加强，从三个价格框架分 析（汇率、中美利差、国内股债跷跷板效应）判断，开年以来，人民币主动升值预期提升，且中长期不 改人民币汇率走强预期。从敏感性分析，中美利差短期有走阔风险，汇率和中美利差对A股存"一正一 副"的影响，但对A股市场的扰动弱于汇率升值的利好。 政策影响预期提升 整体来看节后的A股市场，有望如何演绎？ 就整个A股市场而言，多位券商分析师认为，节后春季行情有望延续，继续看好A股节后迎来新一轮上 行，未来一段时间政策对市场的驱动可能全面提升 ...

Group 1 - A-shares experienced a rise before the holiday, with the Shanghai Composite Index up 0.41%, the Shenzhen Component Index up 1.39%, and the ChiNext Index up 1.22% [1] - After the Spring Festival, the A-share market is expected to trend upwards due to policy expectations, liquidity support, and industry trends, with a focus on policy-driven opportunities [1] - Key sectors to watch include non-competitive concepts benefiting from improved supply-demand dynamics, such as precious metals, oil and petrochemicals, and basic chemicals [1] - The AI and robotics sectors are anticipated to show structural highlights post-holiday, driven by increased attention during the Spring Festival [1] Group 2 - The Spring market is expected to continue, with price increases being a core focus for the first quarter, as AI technology leads to a significant expansion in code generation [2] - Industries are categorized based on physical dependency and regulatory barriers, indicating a widening gap in returns between beneficiaries of physical scarcity and those affected by code expansion [2] - The A-share market is less impacted by AI disruptions compared to US and Hong Kong markets, maintaining a positive sentiment for continued investment [2] Group 3 - The media sector is poised to benefit from new AI applications, with 2026 being a pivotal year for AI integration in media, enhancing digital marketing and content generation [3] - The Spring Festival showcased AI's potential, leading to increased public awareness and interest in technology applications within the media sector [3] Group 4 - A "red envelope market" is anticipated post-holiday, driven by external uncertainties and a favorable exchange rate for the Chinese yuan, which may enhance long-term investment in Chinese assets [4] - The technology sector is expected to see a boost from various catalysts released during the Spring Festival, raising expectations for a tech-driven market [4] Group 5 - The market is currently in a strong oscillation phase, with mixed signals from overseas markets, indicating a cautious approach to trading [5] - The A-share market is expected to experience a trendless opening post-holiday, with a focus on sectors like AI applications and robotics that have shown potential [6] - A "systematic slow bull" opportunity is still favored, with recommendations to hold positions in relatively undervalued sectors such as securities, building materials, and banks [6]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 丙午马年A股即将开盘，历史数据显示，春节假期后主要股指涨多跌少。整体来看，券商对节后市场普 遍持乐观态度。 港股率先开盘 机器人、AI应用概念大涨 春节假期中，离岸人民币一度升至6.88，海外主要股指多数上涨。 21日，特朗普在社交媒体上发文称，他前一天宣布对输美商品征收的"全球进口关税"税率将从10%提高 到15%，"立即生效"。 国泰海通表示，"对等关税"占到美国关税收入的近60%，因此市场较关注对财政的影响。预期关税最终 会小幅下降2%—3%，并略微推升财政赤字率约0.1%—0.2%。 国联证券分析，理论上违法关税需要返还，但是最高法院并未明确规定返还流程，而且"一刀切"返还的 难度也较大，可能采取"一事一议"模式，由企业通过诉讼或主动申请争取部分返还，但整个过程可能更 为漫长且存在混乱性。从财政影响来看，如果关税全额退还(约1750亿美元)，将会进一步加剧美国财政 压力，造成美国长端利率的上行以及美元的贬值。 2月20日，港股马年率先开市，恒生指数、恒生科技指数均收跌。受央视春晚机器人"炸场"表演影响， 机器人概念股集体大涨，越 ...

Core Insights - AIxCrypto Inc. has launched Season 2 of its AIxC Hub, introducing updated engagement mechanics and new features aimed at enhancing AI agent-driven experiences within the ecosystem [1] - The company has seen significant growth in its social media presence, with its official X account reaching 53,417 followers and a 94% increase in engagement rates, alongside total impressions nearing 600,000 [1] - AIxCrypto is refocusing its strategy on Real-World Assets (RWA) and Embodied AI (EAI), transitioning away from certain initiatives to enhance operational focus and capital discipline [1] Company Developments - The launch of Season 2 of AIxC Hub marks a new phase in the company's ecosystem evolution, with additional details on engagement and rewards to be released soon [1] - The strategic refinement includes a concentration of resources on FFAI EAI initiatives, such as intelligent electric vehicles and AI robotics, while discontinuing the BesTrade AI Agent and Digital Asset AI Management modules [1] - AIxCrypto aims to leverage high-quality, multimodal real-world behavioral data to develop AI-integrated blockchain applications, connecting on-chain systems with real-world signals [1] Strategic Outlook - The company is positioned at the intersection of AI, RWA, and crypto infrastructure, focusing on building compliant asset rails to facilitate the integration of real-world assets into blockchain systems [1] - AIxCrypto's goal is to enable smarter AI-native financial and consumer applications, creating practical utility for users, partners, and shareholders [1] - The company emphasizes its commitment to enhancing its core infrastructure objectives while aligning execution efforts with areas of long-term relevance [1]

智通财经APP获悉，中金发布研报称，农历新年假期接近尾声，期间国内旅行和消费数据稳步增长。海 外方面，美国的"对等关税"和"芬太尼关税"被当地最高法院裁定违法，特朗普另推"全球进口关 税"15%。港股节后开市整体偏平淡，AI和机器人板块表现突出。综合春节假期期间的内部和外部信 息，A股节后或整体平稳，假期期间受关注度较高的增长板块尤其是AI和人形机器人板块有望成为结构 亮点。 结合产能周期位置，建议关注供需问题接近改善转折点或政策支持领域，关注化工、养殖业、新能源 等；优质高股息，中长期资金入市是长期趋势，从优质现金流、波动率及分红确定性出发，可结构性布 局高股息龙头公司；年报业绩亮点领域，例如黄金板块、受惠于AI高景气的TMT板块、非银金融等。 配置方面，中金建议近期关注多个领域，包括景气增长，AI技术领域经历3年高速发展，2026年可望逐 步进入产业应用兑现阶段，光模块、云计算基础设施层面仍有机会，但可能更偏国产方向；应用端关注 机器人、消费电子、智能驾驶等。此外，创新药、储能、固态电池等方向也正步入景气周期，出海仍是 目前较确定性的增长机会，结合出海趋势和对美敞口，建议专注于家电、工程机械、商用客车、电 ...

早上好，明天是 马年 首个交易日，祝大家交易顺利， 马到成功！ 先来关注下国际局势。 俄罗斯莫斯科多个机场限制飞机起降 据央视新闻消息，当地时间22日，俄罗斯联邦航空运输署对俄首都莫斯科的伏努科沃机场、多莫杰多沃 机场、茹科夫斯基机场和谢列梅捷沃机场的飞机起降实施限制。 据悉，这些限制措施对于确保飞行安全是必要的。俄联邦航空运输署并未透露限制措施的具体细节，也 未说明这些措施将持续多久。 另据莫斯科市长索比亚宁当日在社交媒体上发布的消息，俄防空部队击落了11架飞往莫斯科的无人机。 普京：发展"三位一体"核力量是绝对优先事项 据央视新闻消息，当地时间23日是俄罗斯"祖国保卫者日"，俄罗斯总统普京发表视频讲话，表示俄罗斯 将根据国际局势的发展，基于特别军事行动中获得的战斗经验，继续开展大规模加强陆海军的工作。 普京强调，发展"三位一体"核力量依然是俄方绝对的优先事项，核力量作为俄罗斯安全的保障，能够有 效保持战略威慑和世界力量平衡。 分析人士：节后A股有望迎来结构性上涨行情 春节假期期间，全球市场并不平静。美国关税政策升级、地缘冲突持续发酵，A股市场会受到怎样的影 响？ 普京表示，俄还将全面提升各军兵种的力量、战 ...

Core Insights - The discussion revolves around the volatility of Bitcoin and the implications of selling personal assets, such as cars, to invest in it, highlighting a mix of conviction and caution among investors [1][6][7]. Group 1: Investment Sentiment - Some investors express strong belief in Bitcoin's long-term potential, suggesting that it will continue to rise against fiat currencies, with predictions of reaching $250,000 within ten years [1][2]. - A Reddit user shared their decision to sell their car to invest in Bitcoin, indicating a willingness to take significant risks for potential future gains [5]. - The sentiment among long-term Bitcoin holders is generally positive, with claims that no one has lost money if they held Bitcoin for an extended period [2]. Group 2: Cautionary Perspectives - Many commenters advise against selling essential assets like cars for speculative investments, emphasizing the importance of practicality and opportunity cost [4][6]. - The recent drop in Bitcoin's price by approximately 28% over the past month, falling to around $68,000, raises concerns about the timing of investments [5][6]. - Suggestions for dollar-cost averaging are made as a more cautious approach to investing in Bitcoin, allowing investors to mitigate risks without liquidating significant assets [2]. Group 3: Practical Considerations - The practicality of selling a car for Bitcoin is questioned, with arguments that a car is often necessary for income and flexibility, especially in the U.S. [3][4]. - Comments reflect a consensus that selling a $10,000 car for a speculative asset may not be a sound financial decision, as the potential gains from Bitcoin may not justify the loss of a necessary asset [4][6].

Core Insights - The valuation methods previously used for the internet may lead to missing significant opportunities in the AI large model sector, but not all companies in this space will receive premium valuations [1] - The gap between leading tech companies and smaller firms is widening, particularly in the AI sector, where competition is intensifying and requires substantial investment [3][11] Group 1: AI Industry Dynamics - The AI industry is characterized by a lack of belief in the ability of smaller companies to compete with giants like Google, OpenAI, and Amazon, due to their superior computational power and resources [3] - Current market valuations for some small AI companies are deemed irresponsible, especially when their revenues are below $1 billion yet they receive valuations in the hundreds of billions [3] - The competition in AI has reached a critical point, with leading tech companies increasing capital expenditures significantly, indicating a no-turning-back scenario [3][5] Group 2: Capital Expenditure Trends - Google’s parent company, Alphabet, plans to raise $20 billion through bond issuance, exceeding initial expectations, with significant investor interest [4] - Major tech companies, including Google, Meta, Microsoft, and Amazon, are projected to spend a total of $650 billion this year on AI infrastructure [5] - Alphabet's capital expenditures are expected to reach between $175 billion and $185 billion in 2026, significantly higher than previous analyst estimates [15] Group 3: Investment Movements - Berkshire Hathaway has made a significant investment in Google, marking a shift in its investment strategy towards tech stocks [8] - Other private equity firms, such as景林资产, have also increased their stakes in Google, indicating a trend of institutional investment in leading AI companies [9] - The focus on AI investments is expected to continue, with industry leaders emphasizing the long-term potential of AI technologies [11][12] Group 4: Financial Performance of Alphabet - Alphabet reported a fourth-quarter revenue of $113.83 billion, a year-on-year increase of 18%, surpassing market expectations [13] - The company’s cloud business revenue reached $17.66 billion in the fourth quarter, growing 48% year-on-year, driven by demand for AI infrastructure [15] - For the full year, Alphabet's revenue exceeded $400 billion for the first time, reaching $402.84 billion, with a net profit of $132.17 billion [14]

Group 1 - The Chinese technology industry has initiated an "AI model war" since before the Spring Festival, with a dense release and continuous upgrade of domestic AI models [1] - American analysts assert that the impact of Chinese technology on the world is just beginning [1] - Following the release of domestic models, several Chinese chip companies have quickly announced the completion of compatibility with these models, allowing large models to run on their chips and meet expected performance [1] Group 2 - Foreign media reports indicate that each new achievement released by China this week demonstrates the ability to achieve greater breakthroughs with fewer resources [1]

The partnership will integrate Myelin’s edge-first AI stack directly into ASM’s engineering design-led manufacturing portfolioMyelin Foundry provides AI solutions for edge devices for the media and entertainment and automotive sectorsASM Technologies said that its board approved the investment proposal to acquire an aggregate 20% stake in the startupAI startup Myelin Foundry is raising ₹48 Cr (around $5.3 Mn) from listed digital services provider ASM Technologies.In an exchange filing, ASM Technologies said ...