Market Overview - The Shanghai Composite Index rose by 0.53% on December 24, with 26 out of the 28 sectors experiencing gains, led by defense and electronics sectors, which increased by 2.88% and 2.12% respectively [1] - The agriculture, forestry, animal husbandry, and fishery sectors, along with coal, were the biggest losers, declining by 0.85% and 0.70% respectively [1] Capital Flow Analysis - The net inflow of capital in the two markets reached 10.37 billion yuan, with 17 sectors seeing net inflows [1] - The electronics sector had the highest net inflow of 8.68 billion yuan, corresponding to its 2.12% increase, followed by the power equipment sector with a net inflow of 3.76 billion yuan and a daily increase of 1.03% [1] Food and Beverage Sector Performance - The food and beverage sector declined by 0.36%, with a net outflow of 1.11 billion yuan [2] - Out of 124 stocks in this sector, 46 rose, including one hitting the daily limit, while 73 fell, with two hitting the lower limit [2] - The top three stocks with the highest net inflow were Huangshi Group (21.71 million yuan), Yangyuan Beverage (21.13 million yuan), and Richen Co. (10.47 million yuan) [2] Food and Beverage Capital Flow - The top stocks with net outflows included Wuliangye (-162.02 million yuan), Shanxi Fenjiu (-138.72 million yuan), and Kweichow Moutai (-112.55 million yuan) [3] - Other notable stocks with significant outflows were Haiqin Food (-106.74 million yuan) and Angel Yeast (-64.93 million yuan) [3]

本次权益分派股权登记日为：2025年12月30日，除权除息日为：2025年12月31日。 格隆汇12月24日丨广州酒家(603043.SH)发布2025年前三季度权益分派实施公告，公司拟以实施权益分 派股权登记日的总股本 568,770,805 股 扣 除 公 司 回 购 专 用 证 券 账 户 的股数6,318,435 股，即 562,452,370 股为基数，每股派发现金红利 0.10元（含税），共计派发现金红利56,245,237.00元（含 税）。 ...

Market Overview - The Shanghai Composite Index recorded six consecutive days of gains, with a closing value of 3940.95 points, up 0.53% [4] - The Shenzhen Component Index closed at 13486.42 points, up 0.88%, while the ChiNext Index rose by 0.77% to 3229.58 points [4] - The total market turnover was approximately 1.9 trillion yuan, showing a decrease compared to the previous trading day [5] Economic Data - The U.S. GDP for Q3 showed an annualized growth rate of 4.3%, exceeding market expectations of 3.3% and marking the fastest growth in two years [3][8] - Consumer spending was a significant driver of this growth, accelerating to 3.5% in the same quarter [8] - The core PCE price index rose by 2.9%, indicating persistent inflation [8] Energy Sector - In November, China's total electricity consumption reached 835.6 billion kWh, a year-on-year increase of 6.2% [2][7] - From January to November, total electricity consumption accumulated to 9460.2 billion kWh, with a growth rate of 5.2% [2][7] - The second industry saw a stable growth in electricity consumption of 4.4%, while the high-tech and equipment manufacturing sectors grew by 6.7% [2][7] Automotive Industry - Beijing issued the first L3-level highway autonomous driving vehicle license plates, marking a significant milestone in the commercialization of autonomous vehicles in China [2][8] - The three licensed vehicles can achieve 80 km/h autonomous driving on designated highway sections, although a driver must be ready to take control [3][8] Stock Performance - Among the sectors, defense and military, electronics, and building materials showed the highest gains, with increases of 2.88%, 2.12%, and 1.72% respectively [4][9] - Conversely, agriculture, coal, and food and beverage sectors experienced declines of 0.85%, 0.70%, and 0.36% respectively [4][9] Financing Trends - The margin trading balance reported at 25,315.63 billion yuan, showing an increase from the previous trading day [10]

诺安多策略混合A（320016）成立日期2011年8月9日，最新规模18.55亿。今年以来收益68.55%，同类 排名428/8088；近一年收益63.55%，同类排名537/8058；成立以来收益225.3%。 资料显示，麦趣尔集团股份有限公司位于新疆昌吉州昌吉市麦趣尔大道，成立日期2002年12月30日，上 市日期2014年1月28日，公司主营业务涉及乳制品的生产和销售,烘焙食品的连锁经营。主营业务收入构 成为：烘焙食品52.59%，乳制品30.31%，其他12.68%，节日食品4.42%。 从麦趣尔十大流通股东角度 数据显示，诺安基金旗下1只基金位居麦趣尔十大流通股东。诺安多策略混合A（320016）三季度增持 37.02万股，持有股数146.61万股，占流通股的比例为0.91%。根据测算，今日浮亏损失约14.66万元。连 续3天下跌期间浮亏损失68.91万元。 12月24日，麦趣尔跌1.13%，截至发稿，报8.74元/股，成交6084.03万元，换手率4.28%，总市值15.22亿 元。麦趣尔股价已经连续3天下跌，区间累计跌幅5.1%。 诺安多策略混合A（320016）基金经理为孔宪政。 截至发稿，孔 ...

Market Overview - A-shares experienced a rebound, with the consumption ETF (159928) declining by 0.5% and a trading volume exceeding 380 million yuan [1] - The consumption ETF has seen a net subscription of over 130 million units during the day, accumulating a significant net inflow of over 700 million yuan over three days [1] Spring Market Expectations - As the year-end approaches, discussions about the spring market are intensifying, with analysts expecting positive policies to boost investor confidence [3] - The anticipated improvement in corporate earnings and favorable liquidity conditions are expected to contribute to a "spring rally," with technology growth and domestic consumption identified as key investment themes [3] Valuation Insights - The consumption ETF's underlying index has a TTM price-to-earnings ratio of 19.32, placing it in the 2.8% percentile over the past decade, indicating a high valuation attractiveness [5] - Seasonal trends in Q4 suggest a potential shift in market style towards undervalued sectors, particularly in December [5] Investment Themes - The rotation between domestic demand and technology themes is noted, with significant inflows into sectors like dairy, retail, and food processing [7] - External factors such as the Federal Reserve's interest rate cuts and the Bank of Japan's rate hikes are expected to stabilize market risk appetite [7] AI Applications - The domestic AI industry is entering a phase of large-scale demonstration applications, driven by advancements in computing architecture and product iterations [8] - Notable developments include the launch of new GPU architectures and AI health applications achieving significant user engagement [8] Commercial Aerospace - The upcoming launch of the Long March 12 rocket and advancements in satellite networking are highlighted as key developments in China's commercial aerospace sector [9] - The National Space Administration's action plan aims to support the development of new technologies and applications in commercial aerospace [9] Hainan Free Trade Zone - The Hainan Free Trade Port has officially launched its full island closure, with significant foreign investment projects commencing operations [9] - The first day of customs supervision saw substantial imports benefiting from zero tariffs, indicating a positive start for the free trade zone [9] Domestic Consumption - Policies aimed at boosting consumption are being implemented, with new consumption scenarios emerging in sports events, tourism, and cultural activities [10] - The expected growth in ice and snow sports consumption is projected to exceed 187.5 billion yuan, reflecting a 25% year-on-year increase [10] New Consumption Trends - The Chinese consumption market is characterized by structural highlights despite overall weak demand, with new products and channels gaining traction [11] - Health-conscious consumption trends are accelerating, particularly in sectors like health supplements and functional foods [11] ETF Composition - The consumption ETF's top ten constituent stocks account for over 68.55% of its weight, with leading liquor brands and major agricultural companies prominently featured [12]

| 银行 | | | | 宁波银行 | | | --- | --- | --- | --- | --- | --- | | 食品饮料 | -0.32 | 190.88 | -19.64 | 庄园牧场 | -9.15 | | 农林牧渔 | -0.73 | 224.40 | -10.12 | 生物股份 | -5.38 | | 煤炭 | -1.03 | 60.90 | 10.23 | 云维股份 | -3.58 | （文章来源：证券时报网） 证券时报·数据宝统计，截至下午13:57，今日沪指涨0.47%，A股成交量880.80亿股，成交金额15086.78 亿元，比上一个交易日减少3.05%。个股方面，4015只个股上涨，其中涨停79只，1228只个股下跌，其 中跌停6只。从申万行业来看，国防军工、电子、建筑材料等涨幅最大，涨幅分别为2.62%、1.71%、 1.67%；煤炭、农林牧渔、食品饮料等跌幅最大，跌幅分别为1.03%、0.73%、0.32%。（数据宝） 今日各行业表现（截至下午13:57） | 申万行业 | 行业涨跌（%） | 成交额（亿元） | 比上日（%） | 领涨（跌）股 | 涨跌幅（%） | | - ...

Market Overview - The market experienced a narrow fluctuation in early trading on December 24, with all three major indices turning positive [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.15 trillion yuan, a decrease of 89.5 billion yuan compared to the previous trading day [1] Sector Performance - The commercial aerospace sector showed strong performance, with nearly 20 constituent stocks hitting the daily limit, including Chaojie Co., which rose by 20%, and Shenjian Co., which achieved five consecutive limit-ups [1] - The Fujian sector also strengthened, with Anji Food hitting four limit-ups in seven days and Hexing Packaging achieving three consecutive limit-ups [1] - In contrast, the precious metals sector opened high but fell back, with Shanjin International and Western Gold experiencing declines [1] - The dairy sector saw a pullback, with Zhuangyuan Pasture hitting the daily limit down [1] Index Performance - By the end of trading, the Shanghai Composite Index rose by 0.24%, the Shenzhen Component Index increased by 0.31%, and the ChiNext Index gained 0.08% [1]

Group 1 - The core viewpoint of the article highlights the increasing interest in Hong Kong stocks, driven by their valuation advantages and strong corporate governance [3][10] - The Hong Kong market is currently at a low valuation, with major companies focusing on shareholder returns through dividends and buybacks, indicating a robust governance structure [10][11] - The Hong Kong market features a number of scarce industry leaders with lower prices and higher dividend rates, enhancing their investment appeal [10][11] Group 2 - The adjusted cost-performance ratio of Hong Kong stocks is more favorable, with opportunities in both technology and dividend sectors [11] - In the technology sector, attention is drawn to internet companies focusing on large model developments, where leading firms are establishing competitive barriers through funding and data advantages [11] - In the dividend sector, bank stocks are highlighted for their low valuations and stable dividend returns, attracting long-term institutional investors [11][12] Group 3 - Two factors are expected to further boost the Hong Kong market: the U.S. interest rate cut cycle, which may lead to a global capital influx, and the continued appreciation of the RMB, increasing the attractiveness of RMB-denominated assets [12] - The company Guangfa Securities recommends a "barbell strategy" for investment, suggesting a long-term allocation to stable value assets while maintaining exposure to growth assets in the Hong Kong market [12] - The Hong Kong Large Cap 30 ETF (520560) is presented as a suitable tool for long-term investment, combining high-growth technology stocks and stable dividend-paying stocks [5][12]

2025年12月18日，康师傅宣布公司迎来关键人事调整：现任首席的执行官陈应让将于12月31日退休，自2026年1月1日起由执行董事魏宏丞接任。 新帅接手的康师傅，已没有早年间巨大的行业优势：康师傅创立后，曾以标准化产品匹配大众化需求，用渠道密度换取了市场份额，以此迅速发展，成为 一大食品巨头。 如今，国内消费市场环境已发生根本性变化：消费者对食品评判的标准变得更加多元，延伸至口感、健康、场景乃至情绪价值，这使得曾依靠大单品通吃 市场的产品策略效力锐减，一个被无限细分的新战场已然出现。 2025年上半年，康师傅营收同比下降2.7%，遭遇近五年来首次负增长。 康师傅试图通过产品创新扳回局面，推出非油炸面、高端联名面、无糖饮品等新品类，并转战文化营销。不过，康师傅的创新要想扭转营收下滑的势头还 需时间，并且，公司庞大的规模与成熟的体系虽是优势，也是自身面对新锐品牌全方位错位竞争时的另一种历史包袱。 在当前社交媒体上，康师傅的品牌形象被"童年记忆"的怀旧情绪定格。这与新一代主力消费群体的需求之间，也出现了微妙断层。 当"渠道+规模"不辛苦也能赚钱的时代成为过去，现在的竞争则来到一种"功能+情绪+价值"的多维度比拼中 ...

金饰克价又创新高了！首破1400元！还会接着涨？ 近期，国际金价持续上涨带动国内金价创新高。12月23日，有品牌足金饰品报价首次突破每克1400元。 同日，国内外主要黄金期货与现货价格均刷新历史纪录。今年以来，黄金价格已累计上涨超60%。分析 认为，美联储降息预期、供应紧张及投资需求旺盛等因素共同推高了贵金属价格。机构展望报告指出， 黄金市场在2026年可能延续涨势，白银需求也有望继续增长。 英媒有点急：挑战来了，中国又一领域跻身高端市场 英媒报道指出，中国正从高端食品进口国转变为全球重要的生产与出口国，在鱼子酱、鹅肝、夏威夷 果、樱桃等奢侈食材领域实现显著突破。这一转型得益于地方政策扶持、生产成本优势及国内需求增 长。目前中国已占据全球鱼子酱产量与出口量的大半壁江山，并成为全球第二大夏威夷果生产国。产业 繁荣主要受国内消费推动，同时也给国际贸易伙伴带来新的竞争挑战。 金融市场瞬息万变，投资与经济政策深刻影响全球。我们为您带来昨夜今晨的财经新闻，涵盖股市动 态、经济数据、企业财务和政策更新，帮助您全面把握金融世界。 美股收盘：日线四连涨标普收新高 英伟达升3%领涨七巨头 美股周二延续涨势，三大指数实现日线四连 ...