Report's Investment Rating for the Industry The provided content does not mention the industry investment rating. Core Views of the Report - The report constructs multiple ETF portfolios, including macro industry, macro + momentum industry, core - satellite, and trinity style rotation portfolios, to capture investment opportunities and manage risks in the ETF market [1][5]. - It combines macro - based and momentum - based methods to form complementary strategies, aiming to improve the performance of the portfolios [12]. - The trinity style rotation model uses macro liquidity as the core to build a long - term style rotation model and selects ETFs based on the model's results [6]. Summary by Relevant Catalog 1. ETF Portfolio Construction Methods 1.1 Based on Macro Method - Calculate the macro - sensitivity scores of economic, liquidity, and credit for industry - themed ETFs, and adjust the scores according to the latest indicators. Select the top 6 industry - themed indices and corresponding largest - scale ETFs for equal - weight allocation [1][7]. - Traditional cyclical industries are sensitive to the economy, TMT is sensitive to liquidity, and consumption is sensitive to credit. State - owned enterprises and ESG - related themes have low sensitivity to liquidity and credit [5]. 1.2 Trinity Style Rotation - Build a long - term style rotation model centered on macro liquidity, including growth/value, market capitalization, and quality models. Combine the results of the three models to get the final style preference [6]. - Screen ETFs with high exposure to the target style, control industry exposure, and set allocation limits to obtain the ETF allocation model [6]. 2. Macro Industry Portfolio - Select industry - themed ETFs that have been established for over 1 year and have a current scale of over 200 million. Calculate and adjust sensitivity scores, and remove liquidity scores if there is a significant divergence between liquidity and credit. Then select the top 6 industry - themed indices and corresponding largest - scale ETFs for equal - weight allocation [7][8]. - Currently, with economic forward - looking indicators rising and liquidity and credit indicators tightening, the portfolio is value - oriented with high proportions of banks and cyclical sectors. The December 2025 holdings include Huabao CSI Bank ETF, Cathay CSI Coal ETF, etc. [9]. - The portfolio has large fluctuations and outperformed the benchmark significantly in November 2025 [11]. 3. Macro + Momentum Industry Portfolio - Combine macro - based and momentum - based methods. Use clustering to group industry - themed indices and select the product with the highest 6 - month return from each group for equal - weight allocation [12]. - The December 2025 holdings include Huabao CSI Bank ETF, Cathay CSI Coal ETF, and others. The battery and metal industries selected by momentum have increased [15]. - The portfolio has performed well this year and outperformed the CSI 300 significantly in November 2025 [16]. 4. Core - Satellite Portfolio - Design a "core - satellite" portfolio with the CSI 300 as the core to address the high volatility and rapid industry rotation of industry - themed ETFs [18]. - Calculate macro - sensitivity scores for domestic broad - based, industry - themed, and Smart Beta ETFs, construct three stock portfolios, and weight them at 50%, 30%, and 20% respectively [18]. - The December 2025 holdings include Huatai - Peregrine CSI 300 ETF, Huaxia SSE 50 ETF, etc. The portfolio has been stable this year and outperformed the index almost every month, including in November 2025 [21][23]. 5. Trinity Style Rotation ETF Portfolio - The model currently favors small - cap growth + high - quality segments. The factor exposures and historical performance are presented in the report [24]. - The December 2025 holdings include Southern CSI 500ETF, Southern CSI 1000ETF, etc. [30].

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - The energy - chemical sector includes energy, alcohols, polyolefins, rubber, polyesters, alkalis, and others. Strategies mainly involve constructing option portfolios with a focus on sellers and using spot hedging or covered strategies to enhance returns [4][10]. 3. Summary by Directory 3.1 Futures Market Overview - Various energy - chemical option underlying futures contracts are presented, including details on their latest prices, price changes, trading volumes, and open interest changes. For example, the latest price of crude oil (SC2602) is 432, down 6 with a decline of 1.26%, trading volume of 3.30 million lots (down 0.33 million lots), and open interest of 3.18 million lots (up 0.37 million lots) [5]. 3.2 Option Factors - Volume and Open Interest PCR - PCR indicators (volume PCR and open interest PCR) are used to analyze option - underlying market trends. For instance, the open interest PCR of crude oil is 0.72 (up 0.12), and the volume PCR is 0.79 (down 0.11), which helps describe the strength of the option - underlying market and potential turning points [6]. 3.3 Option Factors - Pressure and Support Levels - Pressure and support levels of option - underlying assets are determined based on the strike prices with the largest open interest of call and put options. For example, the pressure point of crude oil is 540, and the support point is 430 [7]. 3.4 Option Factors - Implied Volatility - Implied volatility data of various options are provided, including at - the - money implied volatility, weighted implied volatility, and its changes. For example, the at - the - money implied volatility of crude oil is 23.27%, and the weighted implied volatility is 26.19% (down 3.17%) [8]. 3.5 Strategy and Recommendations - **Crude Oil**: - Fundamental analysis shows stable and rising demand from US refineries, with little change in shale oil production during the recent price decline. OPEC's short - term supply is flat, and Libya's exports have recovered rapidly [9]. - Market analysis indicates a weak overall trend, with a sharp decline in October, followed by a rebound, and then a significant drop in December [9]. - Option factor research reveals that the implied volatility is below the average, the open interest PCR is below 0.70, and the pressure and support levels are 540 and 430 respectively [9]. - Strategies include constructing a bearish spread of put options, a short - biased call + put option combination, and a long collar strategy for spot hedging [9]. - **LPG**: - Fundamental analysis shows a slight increase in warehouse receipts and port inventories, and the demand may weaken due to potential maintenance plans and current losses [11]. - Market analysis shows an overall downward and volatile trend, with a sharp drop in December [11]. - Option factor research reveals that the implied volatility is around the average, the open interest PCR is below 0.80, and the pressure and support levels are 4200 and 4000 respectively [11]. - Strategies include constructing a bearish spread of put options, a short - biased call + put option combination, and a long collar strategy for spot hedging [11]. - **Methanol**: - Fundamental analysis shows a decrease in inventory due to a decline in arrivals [11]. - Market analysis shows a weak overall trend, with a rebound and then a decline [11]. - Option factor research reveals that the implied volatility is around the historical average, the open interest PCR is below 0.60, and the pressure and support levels are 2300 and 2000 respectively [11]. - Strategies include constructing a bearish spread of put options, a short - biased call + put option combination, and a long collar strategy for spot hedging [11]. - **Ethylene Glycol**: - Fundamental analysis shows a decline in polyester load and an increase in port inventory [12]. - Market analysis shows a continuous weak and downward trend since August, with an accelerated decline in December [12]. - Option factor research reveals that the implied volatility is above the average and rising, the open interest PCR is below 0.60, and the pressure and support levels are 3800 and 3600 respectively [12]. - Strategies include constructing a bearish spread of put options, a short - volatility strategy, and a long collar strategy for spot hedging [12]. - **PVC**: - Fundamental analysis shows an increase in overall inventory [12]. - Market analysis shows a continuous downward trend since July, with a short - term rebound after an over - decline in December [12]. - Option factor research reveals that the implied volatility has decreased to below the average, the open interest PCR is below 0.60, and the pressure and support levels are 6200 and 4100 respectively [12]. - Strategies include constructing a bearish spread of put options and a long collar strategy for spot hedging [12]. - **Rubber**: - Fundamental analysis shows normal demand for all - steel tires and weakening demand for semi - steel tires in the European market. There is a transformation from explicit to implicit inventory [13]. - Market analysis shows a weak and volatile trend [13]. - Option factor research reveals that the implied volatility is approaching the average, the open interest PCR is below 0.60, and the pressure and support levels are 16000 and 15000 respectively [13]. - Strategies include constructing a short - neutral call + put option combination for time - value and directional returns [13]. - **PTA**: - Fundamental analysis shows a low overall load and little change in domestic installations [13]. - Market analysis shows a weak trend with a slight rebound and then a decline [13]. - Option factor research reveals that the implied volatility is below the average, the open interest PCR is around 0.80, and the pressure and support levels are 4850 and 4600 respectively [13]. - Strategies include constructing a short - neutral call + put option combination for time - value returns [13]. - **Caustic Soda**: - Fundamental analysis shows an increase in the average utilization rate of large - scale caustic soda enterprises [14]. - Market analysis shows a continuous downward trend since August [14]. - Option factor research reveals that the implied volatility is at a high level, the open interest PCR is below 0.60, and the pressure and support levels are 2320 and 2000 respectively [14]. - Strategies include constructing a bearish spread and a long collar strategy for spot hedging [14]. - **Soda Ash**: - Fundamental analysis shows a decrease in factory inventory [14]. - Market analysis shows a weak and volatile trend since mid - September [14]. - Option factor research reveals that the implied volatility is at a relatively high historical level, the open interest PCR is below 0.50, and the pressure and support levels are 1300 and 1100 respectively [14]. - Strategies include constructing a bearish spread, a short - volatility combination, and a long collar strategy for spot hedging [14]. - **Urea**: - Fundamental analysis shows a decrease in enterprise inventory and an increase in port inventory [15]. - Market analysis shows a short - term weak trend, with a decline in December after a rebound [15]. - Option factor research reveals that the implied volatility is below the historical average, the open interest PCR is below 0.60, and the pressure and support levels are 1700 and 1640 respectively [15]. - Strategies include constructing a short - neutral call + put option combination and a long collar strategy for spot hedging [15].

1. Report Industry Investment Ratings No specific industry investment ratings are provided in the report. 2. Core Views of the Report - The report provides daily research and analysis on various energy - chemical futures, including market trends, fundamental data, and trading suggestions for each product [2]. - It emphasizes the importance of considering factors such as supply - demand balance, cost, and market sentiment when making investment decisions in the futures market. 3. Summary by Related Catalogs 3.1 PX, PTA, MEG - **Market Trends**: PX is in a high - level volatile market with seasonal weakening demand but tight supply; PTA is in a high - level volatile market; MEG has short - term support below due to unplanned production cuts improving inventory accumulation pressure [2][4]. - **Fundamental Data**: PX主力昨日收盘价6784, up 0.38%; PTA主力4696, up 0.47%; MEG主力3651, up 0.66%. PX CFR China was at 832.67 dollars/ton yesterday, up 2 dollars compared to the previous day [5]. - **Suggestions**: For PX, avoid chasing high prices and operate in the range of 6550 - 7000. Exit the 5 - 9 positive spread and the strategy of going long on PX and short on PTA/BZ. For PTA, operate in the range of 4500 - 4800 and take similar exit actions. For MEG, do not chase short on the 01 contract [11][12]. 3.2 Rubber - **Market Trends**: Rubber is in a volatile operation [2][14]. - **Fundamental Data**: The rubber主力05合约日盘收盘价 was 15,200 yuan/ton yesterday, down 30 yuan; the night - time closing price was 15,230 yuan/ton, down 35 yuan. The trading volume increased by 117,063 hands [14]. - **Industry News**: As of December 14, 2025, the total inventory of natural rubber in Qingdao was 49.89 million tons, a 2.08% increase from the previous period [15]. 3.3 Synthetic Rubber - **Market Trends**: The oscillation center of synthetic rubber is moving up [2][17]. - **Fundamental Data**: The closing price of the butadiene rubber主力02 contract was 10,720 yuan/ton yesterday, up 10 yuan. The trading volume decreased by 31,953 hands [17]. - **Industry News**: As of December 10, 2025, the domestic butadiene rubber inventory was 32,000 tons, a 1.18% decrease from the previous period. The butadiene inventory in East China ports decreased by 5,200 tons [18][20]. 3.4 LLDPE - **Market Trends**: The upside space of LLDPE is limited, and the basis has weakened again [2][21]. - **Fundamental Data**: The closing price of L2601 was 6557, up 1.09%. The 01 - contract basis was - 57, compared to 4 the previous day [21]. - **Market Situation**: The raw material crude oil price is oscillating, the monomer segment is weakly stable, and the downstream demand is weakening. The supply pressure in the medium - term needs attention [22]. 3.5 PP - **Market Trends**: The trading volume of PP has improved periodically, but the basis is still weak [2][23]. - **Fundamental Data**: The closing price of PP2601 was 6254, up 2.04%. The 01 - contract basis was - 154, compared to - 49 the previous day [23]. - **Market Situation**: The cost - end support is limited, the supply - demand game of existing capacity is intensifying, and the demand is weak. Pay attention to the marginal changes of PDH devices [24]. 3.6 Caustic Soda - **Market Trends**: Caustic soda still faces pressure in the later stage [26]. - **Fundamental Data**: The futures price of the 01 contract was 2163, the spot price of 32% caustic soda in Shandong was 710, and the basis was 56 [27]. - **Market Situation**: Although the futures price rebounded on Friday night, the high - production and high - inventory pattern remains. The demand is weak, and there is pressure to reduce inventory by lowering prices before the Spring Festival [28]. 3.7 Pulp - **Market Trends**: Pulp is in a wide - range volatile state [2][31]. - **Fundamental Data**: The closing price of the pulp主力05 contract was 5572 yuan/ton yesterday, up 38 yuan. The trading volume decreased by 67,332 hands [33]. - **Industry News**: The futures market was narrowly volatile, the spot price was stable, and the actual market transactions were limited. The supply pressure remains, and the demand is weak [34]. 3.8 Glass - **Market Trends**: The price of glass raw sheets is stable [2][38]. - **Fundamental Data**: The closing price of FG601 was 950, up 0.11%. The 01 - contract basis was 120, compared to 135 the previous day [37]. - **Market Situation**: The price of float glass fluctuated, and the trading atmosphere in most regions was average. The impact of snowfall in the north affected shipments [37]. 3.9 Methanol - **Market Trends**: Methanol is in short - term volatile operation [2][39]. - **Fundamental Data**: The closing price of the methanol主力05 contract was 2124 yuan/ton yesterday, up 57 yuan. The trading volume decreased by 354,221 hands [40]. - **Market Situation**: The methanol port inventory has been decreasing, and the short - term fundamentals have improved. The macro - environment provides some support [42]. 3.10 Urea - **Market Trends**: Urea is under oscillating pressure [2][44]. - **Fundamental Data**: The closing price of the urea主力01 contract was 1629 yuan/ton yesterday, up 4 yuan. The trading volume increased by 28,598 hands [45]. - **Market Situation**: The short - term driving force is neutral, the spot trading has weakened, and the futures price is expected to be under oscillating pressure. The fundamentals have improved, but the driving force needs further observation [46][47]. 3.11 Styrene - **Market Trends**: Styrene is in short - term oscillation [2][48]. - **Fundamental Data**: The closing price of styrene2512 was 6491, down 9; styrene2601 was 6442, down 63 [48]. - **Market Situation**: The pure benzene market is oscillating, the downstream of styrene is in a high - inventory and medium - profit pattern, and the overall supply pressure is not large [49]. 3.12 Soda Ash - **Market Trends**: The spot market of soda ash has little change [2][51]. - **Fundamental Data**: The closing price of SA2601 was 1123, up 1.63%. The 01 - contract basis was 77, compared to 107 the previous day [52]. - **Market Situation**: The production of soda ash enterprises is stable, the downstream demand is flat, and the procurement enthusiasm is not high [52]. 3.13 LPG and Propylene - **Market Trends**: LPG is in short - term oscillation with a downward trend; propylene is in short - term narrow - range adjustment [2][55][56]. - **Fundamental Data**: The closing price of PG2601 was 4181, up 2.73%; PL2601 was 5949, down 0.20% [56]. - **Market Situation**: The price of CP paper goods decreased, and there are many domestic PDH and LPG plant maintenance plans [61][62]. 3.14 PVC - **Market Trends**: PVC is in low - level oscillation [2][66]. - **Fundamental Data**: The futures price of the 01 contract was 4315, the spot price in East China was 4330, and the basis was 15 [64]. - **Market Situation**: The spot price of PVC increased slightly. Although the futures price rebounded, the high - production and high - inventory pattern is difficult to change in the short - term [64][65]. 3.15 Fuel Oil and Low - Sulfur Fuel Oil - **Market Trends**: The short - term trend of fuel oil has weakened, and the short - term volatility has increased; a retracement has occurred in low - sulfur fuel oil, and the price spread between high - and low - sulfur in the overseas spot market has narrowed [2][67]. - **Fundamental Data**: The closing price of FU2601 was 2417 yuan/ton, up 2.07%; LU2601 was 2988 yuan/ton, up 0.64% [67]. - **Market Situation**: The trading volume and positions of fuel oil and low - sulfur fuel oil contracts have changed, and the price spreads have also fluctuated [67]. 3.16 Container Shipping Index (European Line) - **Market Trends**: The container shipping index (European line) is in an oscillating market [2][69]. - **Fundamental Data**: The closing price of EC2512 was 1649.8, down 0.09%; EC2602 was 1746.0, up 3.30% [69]. - **Market Situation**: The freight rates of European and US - West routes have changed, and the shipping prices of different carriers vary [69]. 3.17 Short - Fiber and Bottle Chips - **Market Trends**: Short - fiber and bottle chips are in short - term low - level oscillation with medium - term pressure [2][78]. - **Fundamental Data**: The closing price of short - fiber2601 was 6110, up 22; bottle chips2601 was 5552, up 22 [78]. - **Market Situation**: The short - fiber futures rose and then fell, and the sales improved; the price of bottle chips factories was mostly stable, and the market transactions were average [78][79]. 3.18 Offset Printing Paper - **Market Trends**: It is recommended to take a wait - and - see approach for offset printing paper [2][81]. - **Fundamental Data**: The closing price of OP2602.SHF was 3994, and the 2 - 3 spread was - 16 [81]. - **Market Situation**: The price of double - offset paper in Shandong and Guangdong markets was stable, the market demand was weak, and the trading atmosphere was general [82][84]. 3.19 Pure Benzene - **Market Trends**: Pure benzene is in short - term oscillation [2][86]. - **Fundamental Data**: The closing price of BZ2603 was 5448, up 28. The pure benzene inventory in East China ports was 260,000 tons, unchanged from the previous day [86]. - **Market Situation**: The pure benzene inventory in ports has increased, the trading volume in Shandong has decreased, and the price has declined slightly [87].

Key Points - The article discusses recent developments in the Chinese financial and industrial sectors, highlighting regulatory measures and economic indicators that may impact investment opportunities and market stability [4][5][6]. Group 1: Regulatory Developments - The China Securities Regulatory Commission (CSRC) held a meeting to discuss the implementation of measures from the Central Economic Work Conference, emphasizing the need to enhance market stability and promote high-quality listed companies [4]. - The State Administration of Foreign Exchange (SAFE) also convened to ensure the stable operation of the foreign exchange market, focusing on maintaining the RMB exchange rate and international balance of payments [4]. Group 2: Economic Indicators - In November, the industrial added value of large-scale enterprises in China grew by 4.8% year-on-year, with a month-on-month increase of 0.44%. The cumulative growth for the first eleven months was 6.0% [5]. - The growth rates for different sectors in November included mining at 6.3%, manufacturing at 4.6%, and electricity, heat, gas, and water production and supply at 4.3% [5]. Group 3: Market Trends and Company News - The number of cities with rising new home prices increased in November, with Hefei and Xiangyang showing the highest growth rates [6]. - The Ministry of Industry and Information Technology announced the first batch of L3 conditional autonomous driving vehicle permits, marking a significant step towards commercialization in designated areas [6]. - The National Energy Administration projected that by 2025, total power generation capacity will exceed 3.8 billion kilowatts, with a year-on-year growth of 14% [6]. Group 4: Company-Specific Developments - Muxi Co., Ltd. will be listed on the Sci-Tech Innovation Board on December 17 [9]. - Aerospace Electronics plans to invest 727 million yuan to gain control of its subsidiary, Aerospace Rocket Company [12]. - TCL Technology intends to purchase a 10.77% stake in Shenzhen Huaxing Semiconductor for 6.045 billion yuan [21].

Macro: Supply and Demand Gap Widening - In November, supply growth slightly decreased year-on-year, with industrial added value and service production indices at 4.8% and 4.2% respectively, compared to 4.9% and 4.2% in October [5] - The demand structure showed marginal improvement in export delivery value, while domestic demand growth declined, primarily driven by the decrease in industrial added value growth [5] - Fixed asset investment saw a cumulative year-on-year decline of 2.6% from January to November, with construction installation projects being the main factor for the overall investment decline [7] Consumer Sector: Consumption Growth Slows - In November, total retail sales increased by 1.3% year-on-year, marking a decline of 1.6 percentage points from October, the lowest monthly growth rate in 2023 [6] - The decline in consumption was attributed to weakened support from trade-in programs and high base effects from the previous year, particularly in categories like home appliances (-19.4%) and automotive (-8.3%) [6] - The "Double Eleven" shopping festival caused a shift in consumption patterns, pulling forward sales from November, which contributed to the slowdown in retail sales growth [6] Investment: Fixed Asset Investment Decline - The cumulative year-on-year decline in fixed asset investment expanded to 2.6% from January to November, with construction installation projects being the primary contributor [7] - The November fixed asset investment saw a seasonally adjusted month-on-month decline of 1.03%, a slight narrowing from October's 1.51% [7] - The government is expected to push for investment stabilization, with additional funding support anticipated to improve investment data by 2026 [7] Real Estate: Continued Weakness - The real estate market remains weak, with new housing sales area declining by 17.3% year-on-year in November, a slight improvement from October's 18.8% decline [10] - Real estate investment saw a year-on-year decline of 30.3% in November, indicating a cautious approach from developers amid weak market demand [10] - The overall investment environment remains pressured, with the government emphasizing the need for stabilization measures [10] Financial Sector: Credit Demand Weakness - In November, new social financing increased by 2.5 trillion yuan, but new RMB loans decreased by 390 billion yuan year-on-year, reflecting weak credit demand [25][26] - The decline in credit demand is attributed to slow recovery in the real economy and weakened demand in the real estate sector [26] - The government bonds and corporate bonds have been the main contributors to social financing, indicating a reliance on these instruments for economic support [26] Commodity Sector: Demand Needs Boost - In November, domestic crude oil production was 4.3 million barrels per day, a year-on-year increase of 1.9%, while net imports were 12.43 million barrels per day, up 4.8% [15] - The steel sector faced a decline in production, with crude steel output down 10.9% year-on-year in November, reflecting weak demand and high inventory levels [17] - The copper market showed a year-on-year increase in production by 9.7% in November, but demand remained subdued due to seasonal factors [19]

Group 1 - iRobot has officially filed for bankruptcy protection in Delaware, with Shenzhen PICEA Robotics and its subsidiary acquiring all shares, leading to iRobot's delisting from NASDAQ and privatization [3] - Tesla has initiated Robotaxi road tests without human safety operators, with reports of at least one Model Y operating in Austin, Texas, without safety monitoring equipment [3] - Google has introduced its seventh-generation TPU using HBM3E8 chips from Samsung and SK Hynix, with plans to adopt HBM3E12 chips for enhanced performance [3] Group 2 - Luoyang Molybdenum has acquired four operating gold mines in Brazil, marking a significant step in its "copper-gold dual-pole" acquisition strategy to enhance its resource layout in South America [5] - Unisoc has established a central research institute to focus on developing new architectures for edge AI chips [5] Group 3 - Apple faces potential increases in hardware costs as DRAM long-term order agreements expire, with Samsung and SK Hynix planning price hikes starting January [7] - Ford plans to convert an electric vehicle battery plant in Kentucky to produce batteries for grid storage and announced the creation of thousands of new jobs across the U.S. [7] - Novo Nordisk Canada has received conditional marketing authorization from Health Canada for semaglutide injection (Wegovy) for treating certain patients with non-alcoholic steatohepatitis (NASH) [7] Group 4 - Samsung Electronics aims to expand HBM3E chip supply to become Broadcom's largest supplier and plans to exit the consumer electronics SSD market to focus on AI industry supply [9] - Toyota announced plans to build a manufacturing plant in the U.S. and issue bonds worth up to 5 billion Indian Rupees, while recalling nearly 100,000 vehicles due to safety issues [9] - SK Hynix has ordered a hot-press bonding machine from ASMPT for HBM4 production, anticipating DRAM shortages to persist until 2028 [9] Group 5 - Volkswagen Group announced the first closure of a domestic production line in Germany in 88 years, significantly reducing the budget for its battery subsidiary PowerCo [12] - Porsche is adjusting its 718 EV platform to accommodate internal combustion engines due to slowing demand for pure electric vehicles, incurring approximately £6.65 billion in conversion costs [12] - HSBC has sent privatization documents for Hang Seng Bank, with a court meeting and shareholder meeting scheduled for January 1, 2026 [12]

人气"爆棚"，服务"走心"！12月7日，"职引未来 就在北疆"2025年城市联合招聘进校园系列活动——内 蒙古建筑职业技术大学专场活动现场，一批批学子带着简历与梦想涌入会场，与区内外名企HR热烈交 流。 招聘活动现场。 转自：草原云 招聘活动现场。 该专场活动的举办，标志着2025年城市联合进校园招聘系列活动圆满收官。从塞外青城到锡林河畔，从 煤海明珠到玉龙故里……是一场场青春与城市的"同频共振"、产业与人才的"双向奔赴"。 此次招聘进校园系列活动采用"线上＋线下"模式，现场设置综合招聘专区、政策宣传专区、职业指导专 区、智慧赋能专区、直播带岗专区，为企业与毕业生提供全方位、多层次的就业服务。 在综合招聘专区，毕业生与用人单位"面对面"深入沟通，详细了解企业发展前景、岗位职责、薪酬待遇 等，实现人才与岗位的高效衔接；在政策宣传专区，人社工作人员为毕业生解答放宽应届生身份认定条 件、鼓励基层就业等就业政策，让政策红利惠及更多青年学子，累计为7000余名学生提供了就业政策咨 询服务，发放政策"小红书"5000余份；在职业指导专区，就业指导专家为毕业生提供"一对一"定制化指 导服务，指导毕业生突出专业优势、匹配岗位 ...

美元指数基本持平；日元兑美元升值0.6%至154.955，接近一周最强水平。 Capital.com高级分析师Kyle Rodda表示："在新的人工智能估值担忧中，'圣诞反弹'无法启动。虽然风险不如上周那么高，但仍有足 够的事件风险让投资者保持警觉，这可能为圣诞反弹提供火花，或同样可能加深抛售。" 核心市场 标普500指数期货上涨0.3%，纳斯达克100指数期货上涨0.2%； 欧洲斯托克50指数期货上涨0.3%； MSCI亚太指数下跌0.6%；日经225指数下跌1.3%，韩国KOSPI指数下跌 亚太股市周一大幅下挫，延续上周五的美股科技股抛售势头，MSCI亚太（除日本）指数下跌1.2%。美股期货周一小幅反弹，试图 从上周五超1%的跌幅中恢复，同时金银铜等大宗商品强势反弹，黄金逼近历史高点，比特币逆转早前跌势，回升至9万美元，显示 风险情绪有所企稳。眼下，市场动荡的核心在于对人工智能投资回报的质疑持续发酵。 上周五美股科技股领跌，反映出市场对推动全球基准指数创下历史新高的科技股能否继续支撑高估值的怀疑加剧。新加坡Lucerne Asset Management投资主管Marc Velan指出，亚洲市场的避险情绪 ...

Group 1: Oil and Metal Prices - International crude oil prices declined, with West Texas Intermediate (WTI) closing at $57.34 per barrel, down 0.69% and Brent crude at $61.17 per barrel, down 0.62% [1] - Precious metal prices showed mixed results, with silver retreating from high levels, while platinum and palladium prices increased [1] Group 2: Uranium and Iron Ore Prices - Uranium (U3O8) price rose to $77.90 per pound, an increase of 0.45% [2] - Iron ore prices also saw an uptick, with 62% grade iron ore powder at $106.05 per ton, up 0.28%, and 58% grade at $93.55 per ton, up 0.40% [3] Group 3: Base Metal Prices - London Metal Exchange (LME) copper futures fell to $11,551.00 per ton, down 2.39%, while aluminum decreased to $2,873.00 per ton, down 0.78% [3] - Other base metals also experienced declines: lead at $1,966.00 per ton, down 0.88%; zinc at $3,138.50 per ton, down 1.83%; nickel at $14,585.00 per ton, down 0.07%; and tin at $41,125.00 per ton, down 1.56% [3] Group 4: Precious Metal Prices - Gold prices increased to $4,298.0 per ounce, up 0.42%, while silver fell to $62.01 per ounce, down 2.41% [3] - Platinum rose to $1,756.8 per ounce, up 2.98%, and palladium increased to $1,513.0 per ounce, up 0.97% [3]

Core Insights - The implementation of data lakes addresses the limitations of traditional databases in handling the explosive growth of data volume and complexity, providing a unified and scalable infrastructure for storing structured, semi-structured, and unstructured data [2][7] - Data lakes serve as the foundation for modern analytics and artificial intelligence, enabling real-time insights, self-service business intelligence, and predictive modeling [2][6] Group 1: Definition and Importance of Data Lakes - A data lake is a centralized storage system that allows organizations to store all types of data in its raw format until needed for analysis, contrasting with traditional data warehouses that require data to be structured before storage [6][7] - The construction of a data lake is crucial for organizational success, as it provides a flexible, cost-effective, and future-proof solution for data storage and analysis [7][10] - Data lakes enable organizations to combine historical and real-time data, supporting advanced use cases such as predictive analytics and fraud detection [6][10] Group 2: Core Architecture of Data Lakes - Data lakes are organized into multiple layers that work together to transform raw information into valuable business insights, including ingestion, storage, processing, governance, and consumption layers [11][20] - The ingestion layer brings data from various sources into the data lake, preserving its original format for later analysis [12] - The storage layer holds raw data in scalable and cost-effective repositories, supporting all data types [13][14] - The processing layer cleans, validates, and enriches data, organizing it into different zones for business analysis [15] - The governance layer ensures data remains trustworthy, secure, and compliant throughout its lifecycle [16] - The consumption layer provides tools for users to extract value from data, enabling self-service analytics while maintaining governance controls [17] Group 3: Implementation Steps and Best Practices - The first step in implementing a data lake is to clarify objectives and identify key use cases, translating them into key performance indicators (KPIs) [23] - Selecting the appropriate cloud platform is crucial, with options like AWS, Azure, and GCP offering various tools for storage, analysis, and governance [24][26] - Designing a layered architecture helps maintain data organization and trustworthiness, with clear definitions for raw, refined, and business-ready data [27][28][29] - Implementing governance and security measures from the outset is essential, including data ownership, access controls, and compliance tracking [31] - Continuous monitoring, optimization, and documentation of data processes are necessary to ensure the data lake remains scalable and efficient [33][42] Group 4: Real-World Case Studies - Shell Energy built a data lake on Microsoft Azure to integrate IoT, operations, and energy management data, reducing data preparation time by 60% and enhancing collaboration between data scientists and business teams [55] - Comcast utilized a Databricks data lake to integrate customer interaction, billing, and service data, enabling near-real-time analysis and improving customer retention rates [56] - HSBC adopted a cloud-based data lake to upgrade its risk management and compliance framework, enhancing the accuracy and transparency of regulatory reporting [57]