华见早安之声 市场概述 美国经济数据喜忧参半、地缘政治风险高企，美股涨势遭打压， 标普和道指跌落纪录高位，但纳指三连阳； 谷歌母公司收涨2.5%， 2019年来首次市值超越 苹果，苹果六连跌；芯片指数止步三连涨，但英伟达反弹1%；特朗普称多达5000万桶委内瑞拉石油将移交美国后，炼油商Valero Energy涨超3%；特朗普称 将不允许军工企业派息和回购后， 军工巨头齐跌，其中诺思罗普·格鲁曼收跌5.5%、洛克希德·马丁跌近5%，雷神科技盘后一度跌超5%；特朗普要禁止机构 投资者买美国独栋住宅，黑石收跌5.6%。 美"小非农"ADP就业增长逊色， 美债收益率刷新日低， ISM数据后，美债收益率有所回升， 两年期美债收益率转升。美国ISM服务业指数公布后，美元涨 幅扩大、逼近逾三周高位；离岸人民币盘中跌超百点逼近7.0关口、刷新今年内低位；比特币一度较日高跌超3%、跌破9.1万美元，以太坊一度跌超5%。 金属狂欢熄火。白银和铂金领衔贵金属跳水： 期银盘中跌超6%， 现货铂金一度跌近8%，黄金盘中跌超1%；工业金属全线回落：伦铜跌超2%、告别纪录 高位，伦镍跌超3%。原油两连跌至三周新低，美油盘中跌超2%。 亚 ...

周三美股涨跌互现，摩根大通、黑石等金融股的下跌拖累市场，与此同时，随着投资者转向人工智能相 关股票，英伟达与谷歌的上涨带动纳斯达克指数走高。 2026.01.08 本文字数：1633，阅读时长大约3分钟 作者 |第一财经 樊志菁 截至收盘，道指下跌466点，跌幅0.94%，收于48996.08点，纳指上涨0.16%，收于23584.27点，标普500 指数跌0.34%，收于6920.93点。 明星科技股分化，谷歌涨2.5%，市值超越苹果位居美股第二，微软涨1.1%，英伟达涨1.0%，亚马逊涨 0.3%，特斯拉跌0.4%，甲骨文跌0.5%，苹果跌0.7%，Meta跌1.8%。 个股方面，此前因芯片短缺预期将推动价格上涨而走高的存储芯片制造商有所降温。西部数据下跌 8.9%，几乎回吐周二涨幅，闪迪涨1.1%，盘中一度跳水超5%，上一交易日大涨27.6%。 英特尔涨超 6%。作为自动驾驶技术公司Mobileye的最大股东，英特尔批准了Mobileye以现金加股票的 方式收购人工智能人形机器人初创企业Mentee Robotics的交易，该交易估值约为9亿美元。 大型银行股回落，美国银行跌2.8%，摩根大通跌2.2% ...

本文字数：1633，阅读时长大约3分钟 作者 | 第一财经 樊志菁 周三美股涨跌互现，摩根大通、黑石等金融股的下跌拖累市场，与此同时，随着投资者转向人工智能 相关股票，英伟达与谷歌的上涨带动纳斯达克指数走高。 截至收盘，道指下跌466点，跌幅0.94%，收于48996.08点，纳指上涨0.16%，收于23584.27 点，标普500指数跌0.34%，收于6920.93点。 2026.01. 08 美国劳工部月度职位空缺与劳动力流动调查报告（JOLTS）显示，去年11月美国职位空缺数与雇佣 人数双双下降。职位空缺数从10月的744.9万个降至714.6万个，市场预期764.8万，职位空缺率也 从4.5%回落至4.3%。雇佣市场同样出现萎缩，11月新增雇佣人数约为510万人，低于10月的540 万人；雇佣率从10月的3.4%下降至3.2%。 本周五美国将公布官方12月非农就业报告，在11月失业率升至4.6%的四年高位后，劳动力市场表 现将成为今年美联储宽松节奏的重要影响。 此外，市场还将密切关注地缘政治动态。此前美国方面表示，已扣押一艘悬挂俄罗斯国旗且与委内瑞 拉存在关联的油轮。此举是特朗普总统为掌控美洲地区石油 ...

Core Insights - The competition among major chip manufacturers is intensifying around the foundational computing power for AI, with native AI hardware accelerating its large-scale implementation, transitioning from laboratory settings to consumer and industrial applications [1][2] - Chinese manufacturers are playing an increasingly significant role at global tech events, showcasing their advancements in AI hardware and capabilities, which are supported by their supply chain and R&D strengths [2][11] Group 1: Computing Power and AI Development - The rapid evolution of underlying computing infrastructure is crucial for the accelerated development of AI large models, with chip leaders emphasizing the exponential growth of computing power and the new application opportunities it creates [3][4] - NVIDIA's CEO highlighted the arrival of the "ChatGPT moment" for physical AI, indicating that machines are beginning to understand and act in the real world, with autonomous taxis being one of the first applications to benefit [3] - AMD's CEO noted that the floating-point computing power for training AI models is growing fourfold annually, with inference token consumption increasing by 100 times over the past two years, necessitating new product offerings to meet Yotta-scale infrastructure demands [4] Group 2: Emerging AI Applications - The potential of edge AI is significant, with advancements in smart wearable devices being highlighted as a new category of mobile terminals that will coexist with smartphones [5][6] - Qualcomm's CEO projected that the market for personal AI devices could reach 100 million units in the coming years, emphasizing the importance of edge data for providing highly relevant user services [6] Group 3: Robotics and Physical AI - The maturity of physical AI was showcased at CES, with Chinese manufacturers presenting advanced robots that demonstrate improved capabilities compared to previous years [7][8] - The introduction of humanoid robots and their increasing commercial viability was noted, with companies achieving substantial progress in motion control and operational precision [9][10] - The integration of hardware, sensors, and environmental perception into scalable systems is seen as essential for advancing physical AI applications across various industries [10] Group 4: Chinese Manufacturers' Competitive Edge - Chinese companies are leveraging their supply chain efficiencies and R&D capabilities to drive rapid iterations and cost optimization in the robotics sector, significantly outpacing European competitors in product development cycles [11][12] - The shift from simple manufacturing to innovative solutions reflects a broader transformation in the perception of "Made in China" to "Created in China," highlighting the technological advancements and better solutions being offered [12]

Core Viewpoint - Major chip manufacturers are engaged in intense competition around the foundational computing power for AI, marking a shift from experimental AI hardware to large-scale deployment in consumer and industrial applications [1] Group 1: Industry Dynamics - The competition in the AI ecosystem reflects a significant restructuring of computing power foundations, indicating a deeper level of competition in the AI landscape [1] - Chinese manufacturers are leveraging their supply chain and research capabilities to transition from "manufacturing" to "creation," showcasing their evolving role in the global AI market [1] Group 2: Technological and Capital Integration - The convergence of technology, capital, and industrial forces is reshaping the competitive landscape of global intelligent technology [1] - The ongoing developments signify a critical moment in the AI ecosystem, where the integration of various elements is pivotal for future advancements [1]

香港《南华早报》1月7日文章，原题：中美科技竞赛升温，上海宣布百亿美元投资计划上海宣布一系列 涉及芯片、人工智能（AI）和航空等高科技产业的新投资计划，凸显中国城市推动本地创新的雄心。 上海浦东新区宣布百亿美元投资计划，公布50个重点项目，总投资额超过700亿元人民币，其中大部分 资金将流向芯片、人工智能、生物医药、智能汽车等重点产业。 全国各地官员响应北京号召，在制定2026年及以后的工作重点时大力发展核心技术领域的自主能力，上 海只是新年伊始启动科技投资热潮的中国城市的一个代表。上海金融与法律研究院执行院长傅蔚冈表 示："中国追赶美国并巩固在新兴技术领域新获得的领先优势，取决于包括上海在内的几个支柱城市能 否抓住机遇，取得更多成果和突破。" 浦东聚集了众多中国顶尖企业，包括中芯国际——这家芯片制造商的代工厂为中国科技巨头提供服务。 该区域还有张江高科技园区，这个庞大的高科技区聚集了生物医药、芯片以及日益兴起的AI、机器人 和芯片制造设备领域的初创企业。人工智能巨头商汤科技等企业也在此运营。数据显示，2025年人工智 能"上海方案"年度任务全部完成。前三季度，全市394家规上企业营收4354.92亿元，同比 ...

当前市场对"脑机接口"相关概念高度关注，公司发布相关信息尤其应当注意审慎、准确，避免对投资者 产生误导。公司E互动平台回复内容未能准确反映公司IPA1299芯片产品的推出主体、销售规模、国际 产品路径差异，也未就未来销售情况存在不确定性等情况充分提示风险，信息披露不准确、不完整，风 险提示不充分。上交所科创板公司管理部作出如下监管措施决定：对深圳英集芯科技股份有限公司及时 任董事会秘书吴任超予以监管警示。 每经AI快讯，1月7日，上交所科创板公司管理部发布关于对深圳英集芯科技股份有限公司及有关责任 人予以监管警示的决定。经查明，深圳英集芯科技股份有限公司于2026年1月6日在上证E互动平台回复 投资者提问时，提到公司已涉足脑机接口芯片领域，推出的IPA1299芯片专用于人体生物电信号的高精 度测量，可适用于脑电信号采集等脑机接口相关场景，已量产出货，性能参数可媲美海外头部芯片产 品。经监管督促，公司于1月7日早间披露《关于上证E互动平台有关问题回复的说明公告》称，公司的 IPA1299芯片产品为与参股公司精芯唯尔（常州）电子科技有限公司共同推出，该产品尚处市场培育 期，尚未实现规模化销售，暂未对公司业绩产生重 ...

Group 1 - The core market trend shows a strong upward movement, with the Shanghai Composite Index experiencing a 14-day consecutive rise, approaching the 4100-point mark, indicating a prevailing bullish trend despite short-term fluctuations [1][2] - The market structure has fundamentally changed, with trading volumes consistently exceeding 2 trillion, leading to a multi-line approach rather than focusing on one or two core themes [2][3] - The market's behavior has shifted from an A-V structure to an N-shaped structure, where adjustments after a rise are seen as opportunities for further gains rather than declines [2][3] Group 2 - The analysis emphasizes the importance of understanding the overall market dynamics, including the top-level index trends, which indicate that 90% of sectors are in a primary upward trend [2][3] - The focus should be on identifying strong sectors that lead the market, such as the Fujian sector post-National Day and the commercial aerospace sector starting in December, which are examples of strong thematic movements [2][3] - Daily leading sectors are now more varied, and the previous reliance on a single leading stock to drive market sentiment has diminished, resulting in a more chaotic but potentially rewarding trading environment [3][4] Group 3 - The current market requires a shift in trading strategies, moving away from traditional metrics like daily gain percentages and the number of stocks hitting the limit up, as these indicators are less reliable in the current environment [4][5] - The market's decentralization is influenced by factors such as differential price limits across exchanges, regulatory constraints, and the impact of quantitative trading, which has led to a faster-paced and more fragmented trading landscape [4][5] - In a long-term bullish market with short-term chaos, the recommended approach is to focus on a few key sectors, particularly technology stocks, and to track them consistently for opportunities [5][6] Group 4 - The strategy involves concentrating on five key sectors: chips, robotics, new energy vehicles, artificial intelligence, and commercial aerospace, which are expected to experience significant movements throughout the year [5][6] - The approach includes using sector-specific ETFs or selecting 3-5 core stocks within each sector, ensuring alignment between stock performance and sector trends [6][7] - The overall strategy should integrate index analysis with sector and stock selection, using index movements to guide specific trading decisions [6][7]

经济观察网1月7日，上交所连开两张"罚单"，分别对科创板公司亚辉龙、英集芯及有关责任人予以监管 警示，原因为相关公司在披露涉及"脑机接口"业务信息时存在不准确、不完整的情形。 ...

1月6日收盘后，亚辉龙披露《关于自愿披露签署战略合作框架协议的公告》称，公司与脑机星链签订《战略合作框架协议》，双方将在产品研发、市场 推广以及股权投资等方面开展合作。 亚辉龙公告称，脑机星链是一家以人工智能为核心驱动力，深耕非侵入式与侵入式双技术路径的企业，已开发脑电采集分析仪等产品。 1月7日，亚辉龙及有关责任人、英集芯及有关责任人，均被上交所予以监管警示。 | 证券代码 | 证券简称 | 监管类型 | 处理事由 | 涉及对象 | 处理日期 | | --- | --- | --- | --- | --- | --- | | 688575 | 亚辉龙 | 监管警示 | 关于深圳市亚辉龙生物科技股份有 | 上市公司,董秘 | 2026-01-07 | | | | | 限公司的决定书 | | | | 688209 | 英集芯 | 监管警示 | 关于深圳英集芯科技股份有限公司 | 上市公司,董秘 | 2026-01-07 | | | | | 的决定书 | | | 综合来看，亚辉龙、英集芯近期在发布的公告或互动平台上，提及与"脑机接口"等热点概念相关信息，但存在信息披露不准确、不完整，风险提示不充 分等问题。 监管 ...