项目是经济发展的压舱石，是高质量发展的强引擎、硬支撑。近日，我市正式发布2026年经济社 会发展重大项目名单，共安排516个项目，其中实施项目479个（含计划新开工项目160个）、前期项 目37个，年度计划投资同比增长1.2%。这份沉甸甸的名单，以扎实的项目布局与可观的投资增量，释 放出稳预期、强信心的鲜明信号。 南航国际创新港一期3#、4#地块项目正是这一导向的体现。作为六合产业科技创新港（雄州新 城）先导项目，这个总投资约23.9亿元的科创项目，拟建设科学研究设施、实验设施、科研机构办公设 施及相关配套设施，通过导入高校科研资源，打造集"科技研发、成果转化、社会服务、人才引育"于一 体的国家级重点创新平台，牵引区域创新能级跃升，以创新基础设施布局激活新产业、新模式、新动 能，为战略性新兴产业和未来产业发展提供关键支撑。 南京北站枢纽建设工地上，千余名建设者分班奋战、灯火不熄，全力朝着主体结构封顶的节点目标 冲刺。这座预计2027年10月与北沿江高铁同步建成启用的枢纽，将对打造"轨道上的长三角"、推动长 双轮驱动：产业投资与基础建设同步发力 记者梳理发现，在实施项目中，产业项目共计392个（科创项目59个、 ...

数据显示，截至2025年12月31日，中证医药及医疗器械创新指数(931484)前十大权重股分别为药明康 德、恒瑞医药、迈瑞医疗、爱尔眼科、片仔癀、新和成、华东医药、康龙化成、艾力斯、甘李药业，前 十大权重股合计占比63.75%。 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资 产，但不保证本基金一定盈利，也不保证最低收益。基金管理人提醒投资人基金投资的"买者自负"原 则，在做出投资决策后，基金运营状况与基金净值变化引致的投资风险，由投资人自行负担。基金的过 往业绩及其净值高低并不预示其未来业绩表现，基金管理人管理的其他基金的业绩不构成对本基金业绩 表现的保证。投资人购买基金，既可能按其持有份额分享基金投资所产生的收益，也可能承担基金投资 所带来的损失。投资人应当认真阅读《基金合同》《招募说明书》等基金法律文件，全面认识本基金的 风险收益特征和产品特性，并根据自身的投资目的、投资期限、投资经验、资产状况等判断基金是否和 投资人的风险承受能力相适应，理性判断市场，谨慎做出投资决策。本材料中相关信息来源于基金管理 人认为可靠的公开资料，相关观点、评估和预测仅反映当前的判 ...

声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，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。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 责任编辑：小浪快报 2026年1月23日，*ST生物（维权）（sz000504）触及跌停，跌停价8.84元，涨幅-4.95%，总市值29.17亿 元，流通市值29.09亿元，截止发稿，总成交额7137.11万元。 根据喜娜AI异动分析，*ST生物跌停原因可能如下，退市风险+业绩波动+重组不确定： 1、公司基本面 存在较大压力：*ST生物处于业务转型与财务重整关键阶段，虽2025年预计盈利且营收大幅增长，但 2024年财务指标触发退市风险警示，若2025年未达标将面临终止上市。同时，2024年度净利润亏损，业 绩波动大，非经常性损益占比大，负债水平上升等问题，都影响了市场对其信心。 2、重大资产重组进 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - In 2026, the world will be in a macro - background of deepening "de - globalization" and the resonance of loose fiscal policies of major economies. Supply - chain vulnerability and demand expansion will lead to a tightening of resource supply - demand relations, and intensify strategic competition for key minerals and energy [1]. - China's economy will be based on the principle of "internal stability and external control" in 2026. Exports will remain a mainstay, investment will play a supporting role, and consumption will focus on equipment updates and service - scenario innovation. The de - dollarization trend and the weakening of the US dollar credit will bring opportunities for international capital inflows into RMB assets, and Sino - US competition will focus on technology and supply - chain security [1]. - In 2026, a macro - hedging portfolio should be constructed under the premise of seeking certainty. Commodity assets will have prominent allocation value, with the order of commodity > equity > bond. Attention should be paid to potential uncertainties such as recessions in Europe and the US, domestic inflation repair, geopolitics, and real - estate risks [2]. Summary by Directory I. Cycle Changes: Resonance of "De - globalization" and Loose Fiscal Policies (1) The Wave of De - globalization: From Great - Power Games to the G2 Pattern - International events such as the COVID - 19 pandemic, the Russia - Ukraine war, and the Trump administration's high - tariff policies have led to the wave of de - globalization, which is essentially the reshaping of the world order [6]. - Traditional capitalist powers like the US and the UK are withdrawing from international alliances, while emerging - market countries led by China are exploring new international cooperation models. A G2 competition pattern between China and the US is gradually taking shape in key technologies and resources [7]. - The wave of de - globalization has increased the vulnerability of the global supply chain, deteriorated the global trade environment, and accelerated the rotation and increased the volatility of global major assets. The credit systems of the US dollar and US Treasury bonds have been shaken [9]. (2) Loose Fiscal Resonance: Upward Global Manufacturing and Inventory Cycles - In 2026, the fiscal policies of major overseas economies such as the US, Europe, and Japan are expected to expand further. The US "big and beautiful" bill may increase the fiscal deficit by $4.1 trillion in the next decade, and EU countries will increase their defense spending to 5% of GDP by 2035. Japan will implement a trillion - level economic stimulus plan. This will lead to an increase in economic activity demand and drive up the global manufacturing and inventory cycles [15]. (3) Resource Shortage: Tightening Supply - Demand Balance - De - globalization has increased supply - chain vulnerability, and loose fiscal policies will stimulate demand, leading to a tightening of the global industrial supply - demand relationship. Countries will pay more attention to resource competition for national security. The US is seizing resources through trade control and military actions. Core resources such as minerals and energy will see price increases in 2026 [16]. II. The Game between Endogenous Momentum and External Changes (1) Endogenous Economic Transformation: Long - Term Policy Guidance of the 15th Five - Year Plan - In 2026, as the starting year of the 15th Five - Year Plan, China aims to achieve a reasonable GDP growth rate while gradually realizing structural transformation. New - quality productivity sectors such as AI, biomedicine, and new energy will become new pillar industries [17]. - Investment will be the supporting force for achieving economic growth goals, while consumption will be the main growth driver. Exports will remain a mainstay due to factors such as reduced Sino - US trade - dispute volatility, fiscal expansion in developed economies, and the rise of emerging markets. Investment in infrastructure, manufacturing, and new areas will support economic growth, and real - estate's negative impact on the economy is expected to turn neutral [18][19][23]. - In the consumption area, policies will focus on releasing existing demand through subsidies and exploring incremental demand by expanding service - consumption scenarios [27]. (2) External Changes and Game: Coexistence of Challenges and Opportunities - The weakening of the US dollar credit due to the expiration of the "petro - dollar" agreement and the establishment of a new cross - border settlement mechanism provides an opportunity for RMB assets. International capital will flow back to the Asia - Pacific market and drive up the prices of RMB - denominated assets. China can promote RMB internationalization [30]. - Sino - US relations will remain a key variable in 2026. The two countries have long - term competition and phased balance in technology and resource issues. The competition pattern will not change significantly, and extreme decoupling is unlikely [31]. III. Guidance on Major Asset Allocation: Constructing a Macro - Hedging Portfolio (1) Between "Change and Constancy": Unchanging Competition Relations and Changing Cycle Rotations - The long - term competition exists among all global economies due to limited resources and growing economic demand. China's economic recovery has three main lines: technological independence, price repair, and expansion of domestic demand. The US will try to avoid recession and stagflation, and continue to rely on the stock market and AI to support the economy [33]. (2) 2026: Seeking Certainty and Constructing a Major Asset Portfolio: Commodity > Equity > Bond - In 2026, asset allocation should pursue certainty and balance risks. Attention should be paid to risks such as recessions in Europe and the US, slow domestic inflation repair, intensified de - globalization, and a downward real - estate market [36]. (3) Grasping the Rhythm and Main Lines in the Short, Medium, and Long Terms - Based on economic - cycle theory, in the high - inflation and high - growth stage (2026 - 2027 expected), commodities will be dominant. Different commodity sectors will rotate in the order of risk pricing, expected trading, and real - situation regression [37]. - In 2026, the four quarters will be dominated by different factors: Q1 is dominated by short - term liquidity, driving up the prices of precious metals and non - ferrous metals; Q2 focuses on correcting the mid - term narrative; Q3 verifies the long - term logic; Q4 is for brewing cross - year expectations [39].

*ST生物（000504）1月22日晚间公告称，终止筹划重大资产重组。 公告显示，公司于2025年8月12日披露了《关于筹划重大资产重组暨签署股权收购意向协议的提示性公 告》，拟收购程泽能、易木林、长沙君合致远企业管理咨询合伙企业（有限合伙）、长沙市履方医药信 息咨询合伙企业（有限合伙）合计持有的湖南慧泽生物医药科技有限公司51%股权。本次筹划重组事项 尚未进入正式实施阶段，交易各方未达成实质性协议，2026年1月22日公司与交易各方签署了《股权收 购意向协议之终止协议》。 公告称，自筹划重大资产重组事项以来，公司按照相关法律法规要求，积极推进本次重大资产重组的各 项工作。交易各方对本次重大资产重组交易方案进行了多次协商和谈判，未能最终达成一致。为切实维 护公司及全体股东利益，经公司审慎研究，并与交易各方友好协商，交易各方一致同意终止筹划本次交 易。 *ST生物称，本次重大资产重组的终止，不会对公司现有生产经营活动、财务状况产生重大不利影响。 目前公司生产经营秩序正常，本次交易的终止不存在损害公司及全体股东尤其是中小股东利益的情形。 *ST生物22日发布的2025年年度业绩预告称，预计2025年营业收入3.8 ...

□ 本报记者 孟 旭 在这份雄厚的"家底"中，新一代信息技术、高端装备制造两大主导产业作为"压舱石"稳步提升，2025年 实现产值5510亿元，同比增长5.5%。生物医药及大健康、纳米技术应用及新材料、人工智能及数字、 新能源及绿色产业四大新兴产业集群活力蓬勃，规模预计超5740亿元，同比增长7%。在细胞与基因技 术、生物制造、ITBT（信息技术与生物技术交叉）、大模型、先进半导体等未来产业领域，园区积极 谋划、提前落子，积蓄长远发展后劲。 企业是经济运行的细胞，也是创新活力的源泉。至"十四五"末，园区已孕育了7家百亿级的工业企业、 72家上市企业、220家国家级专精特新"小巨人"以及超3200家国家高新技术企业，构成了一个"链主引 领、梯队协同、万马奔腾"的企业发展生态。 1月16日，世界经济论坛揭晓新一批全球"灯塔工厂"评选结果，友达光电（苏州）有限公司、苏州昆岭 薄膜工业有限公司分别入围"人才灯塔""生产效率灯塔"。至此，园区累计拥有5家"灯塔工厂"，在全国 开发区中首屈一指。 面向"十五五"，园区推进新型工业化的路线图已然绘就。今年，园区将牢牢把握智能化、绿色化、融合 化三大方向，围绕全年26项具体工 ...

昨日（1月22日），三大指数集体上涨。国证生物医药指数(399441)下跌0.84%，该指数成分股中，康龙 化成上涨超1%，华兰生物上涨0.59%，泰格医药上涨0.52%，健帆生物上涨0.5%。 相关ETF方面，生物医药ETF(159859)昨日成交额为1.0亿元，居同标的第1名。据Wind数据显示，该ETF 昨日获超1.3亿份净申购。 资金流向方面，该ETF1月21日资金净流入额为2395.48万元，截至1月21日，该ETF已连续3个交易日获 资金净流入，累计净流入额为1.16亿元。 生物医药ETF（159859）紧密跟踪生物医药指数。国证生物医药指数以A股市场属于生物医药产业相关 上市公司为样本空间，根据市值规模和流动性的综合排名，选出前30只股票作为指数样本股（数量不足 时则按实际数量选入），反映了生物医药行业的整体运行情况该ETF还配备了联接基金（A：011040， C：011041）。 消息面上，据央视新闻，9部门发文促进药品零售行业高质量发展。商务部、国家发展改革委等九部门 联合发布《关于促进药品零售行业高质量发展的意见》。《意见》围绕完善药事服务、强化应急保供等 五方面，提出18项具体举措。 太 ...

开门红。 作者/周佳丽 报道/投资界PEdaily 新年募资开始了。 今日（1月2 3日），恒旭资本宣布完成第四期旗舰基金的首轮关账，募集规模超2 0亿元人民币，计划终关规模达3 5亿元，缔造开年 第一笔大额人民币募资。 在同行印象中，恒旭资本是一家拥有雄厚产业背景和资源的市场化CVC。自2 0 1 9年设立以来，恒旭资本六年已收获1 9家上市企业， 过去一年更是接连拿下长风药业、图达通、西安奕材、瑞博生物等6个I PO，被认为是私募股权投资市场中稀缺的兼具产业背景及市 场化机制的CVC之一。 春江水暖看募资，此次募资极具风向标意味。"我们真正的护城河，是透过产业视角，在投资之初就精准锁定那些能解决真实痛点、 拥有清晰商业化路径的核心能力的企业。"恒旭资本董事长陆永涛强调，"我们更想做的，是深度参与产业创新的共创者。" 一笔募资20亿 揭秘LP阵容 LP阵容往往能体现一家机构的实力。 恒旭资本第四期旗舰基金获得了重要股东上汽集团的继续加持，国泰君安证裕、海通开元等金融机构LP也再度复投，并得到长三角 多个地方政府的大力支持。与此同时，基金也吸引了多家上市公司与产业集团加入，产业方+金融机构+地方政府的LP结构 ...

Core Viewpoint - The research reveals a surprising link between peripheral cancers and a reduced risk of Alzheimer's disease, suggesting that certain cancer patients may possess a protective mechanism against Alzheimer's through the protein cystatin-c [2][6]. Group 1: Research Findings - The study published in Cell demonstrates that tumor cells secrete cystatin-c, which acts as a "molecular glue" to activate TREM2 receptors on microglial cells, facilitating the clearance of amyloid plaques associated with Alzheimer's disease [3][5]. - In experiments with Alzheimer's model mice implanted with peripheral cancer cells, a significant reduction in amyloid plaques and improved cognitive function were observed [6][12]. Group 2: Mechanism of Action - Cystatin-c binds to toxic amyloid oligomers in the brain, activates microglial cells via TREM2, and enhances the clearance of existing amyloid plaques [9][15]. - The protective effect of cystatin-c was confirmed through gene knockout experiments, where the absence of cystatin-c eliminated the protective benefits, which were restored upon reintroduction of normal cystatin-c [13][14]. Group 3: Therapeutic Implications - This research opens new avenues for Alzheimer's treatment by focusing on the removal of existing amyloid plaques rather than solely preventing their formation [17][21]. - Direct injection of recombinant cystatin-c into Alzheimer's model mice successfully reduced amyloid burden and improved learning and memory capabilities [18][20].

中金公司研报指出，短期来看，资产影响方面，对于欧元，一方面关税和地缘政治摩擦或将进一步削弱 欧洲的经济增长，利空欧元；而另一方面，近期美国政策端不确定性的上升或让美国作为投资目的地的 可靠性受到更多质疑，从而利空美元，此次贸易摩擦中市场交易的矛盾可能更集中于后者。从权益市场 角度看，从对美国销售敞口占比来看（尽管未必等同于对美出口最多），欧洲的 生物医药，媒体娱 乐， 食品饮料等可能面临一定压力。从绝对出口额来看，药品、交运设备、机械、化学品、飞机等对 美国的出口值较高。虽然在公司层面或可通过调整产业链、本地化生产等措施来应对，但仍给"全球欧 洲"的盈利修复带来不确定性。在这样的背景下，我们相对较为看好：（1）"自主独立"主题的偏内需行 业（如 银行、公用事业）；（2）外需敞口上，我们建议关注估值和盈利预期已经较为合理，政策逆风 相对较小的板块。 ...