他直接点名丹麦、挪威、法国、德国等 8 个欧洲老盟友，宣布即将对它们全面加征关税，起步 10%， 半年内升至 25%。原因竟是这些国家不愿意配合美国 "收购" 格陵兰岛。 话音未落，德媒《奥格斯堡汇报》1 月 18 日报道德国总理默茨将于 2 月 24 日至 27 日访华，随行将有 西门子、大众等德国工业巨头高管。 北约内部到底发生了什么，昔日盟友为何开始选择重新站队？ 盟友变靶子，北约的裂痕从格陵兰岛开始 2026 年 1 月 16 日，特朗普在白宫一场活动上首次提及可能对不支持美国获得格陵兰岛计划的国家加征 关税，1 月 17 日，他在 "真实社交" 平台的一条动态把整个北约都震出裂痕。 格陵兰岛坐落于北极航道要冲，掌握着全球 31 种关键矿产中的主要资源，同时又是北美防御体系的一 环。在美国眼中，这块地的战略价值远大于其冰雪面积。 特朗普早在 2025 年就放出信号，想要 "买下" 这块丹麦属地，现在直接把交易变成了威胁。美国提出的 要求很明确：让丹麦将格陵兰岛主权让渡，否则关税伺候。从 2026 年 2 月 1 日起开征 10%，到 6 月 1 日达到 25%，属于是赤裸裸的经济胁迫。 用贸易手段逼迫 ...

Core Viewpoint - Company Huichuan Technology plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international brand image and competitiveness in global markets [1] Group 1: Internationalization Strategy - The company aims to deepen its international strategy and enhance its overall competitiveness through diversified financing channels [1] - Huichuan Technology is currently discussing the details of the H-share issuance with relevant intermediaries, with no changes to the actual controller expected [1] - The company intends to focus on Europe and emerging markets for its international business, targeting growth in these regions [1][2] Group 2: Business Development and Market Position - Huichuan Technology has established a strong brand presence in the Chinese market over the past 20 years and aims to enhance its brand building in international markets [2] - The company is working on building an international platform that includes sales, R&D, and supply chain capabilities [2] - The company specializes in industrial automation control products, with a leading market share in low-voltage frequency converters among domestic brands [2] Group 3: Robotics Business - The company has advantages in core components for humanoid robots, including product performance technology and production capabilities [3] - Huichuan Technology is focusing on developing key components such as drivers and motors for humanoid robot applications [3] - The company plans to leverage its experience in industrial applications to enhance the performance of motors used in humanoid robots [3]

Core Viewpoint - Huichuan Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange to advance its internationalization strategy and enhance its global market competitiveness [1][11]. Group 1: IPO Announcement - On January 19, Huichuan Technology announced its plan for an overseas share issuance (H-shares) and listing on the Hong Kong Stock Exchange [1][16]. - As of January 19, the A-share price of Huichuan Technology was 80.27 yuan per share, with a total market capitalization of 217.3 billion yuan [1][16]. - The number of shareholders reached 167,100 as of January 9 [1][16]. Group 2: Control and Approval Process - The announcement states that the H-share issuance will not lead to a change in the actual controller of the company [6][20]. - The company is currently discussing the details of the H-share issuance with relevant intermediaries, and the specifics are yet to be determined [2][17]. - The H-share issuance is subject to approval from the board of directors, shareholders, and regulatory bodies including the China Securities Regulatory Commission and the Hong Kong Stock Exchange [5][19]. Group 3: Internationalization Strategy - The purpose of the H-share issuance is to deepen the implementation of the internationalization strategy and improve the company's international brand image [11][25]. - Huichuan Technology's business is divided into four main sectors: general automation, new energy vehicles, smart elevators, and rail transit [11][25]. - Currently, overseas business revenue accounts for a small proportion of total revenue, at 5.51% for 2024 and 6.43% for the first half of 2025 [12][26]. - However, the overseas business is expected to grow rapidly, with projected year-on-year growth of 17.22% in 2024 and 39.34% in the first half of 2025 [13][27]. - The company aims to cultivate international business as a new growth driver and has optimized its international team structure to support overseas market expansion [13][27]. Group 4: Financial Position - As of June 30, 2025, Huichuan Technology's foreign currency monetary projects totaled 358 million yuan, with significant amounts in USD and EUR [12][27]. - The foreign currency monetary funds included 19.72 million USD and 19.89 million EUR, which converted to approximately 141 million yuan and 167 million yuan, respectively [12][27].

据公告内容显示，此次刊发的申请资料是拓斯达根据香港证券及期货事务监察委员会及香港联交所的严格要求精心编制的草拟本。该 资料详细阐述了公司的业务状况、财务表现及未来发展规划，但需注意的是，其中所载信息可能会根据实际情况适时进行更新与修 订，以确保信息的准确性和时效性。 近日，工业自动化领域的佼佼者拓斯达（股票代码：300607）正式对外宣布，公司已于2026年1月16日向香港联合交易所有限公司（以 下简称"香港联交所"）递交了发行H股股票并在其主板挂牌上市的申请材料。与此同时，该申请的草拟版本资料也已在香港联交所官方 网站同步刊发，标志着拓斯达在国际化道路上迈出了坚实的一步。 面对这一挑战与机遇并存的新征程，拓斯达表示将密切关注相关进展，严格按照相关法律法规及监管要求履行信息披露义务，确保所 有投资者能够及时、准确地了解公司的最新动态。同时，公司也提醒广大投资者注意相关投资风险，理性投资，共同分享公司成长带 来的红利。 拓斯达此次递交H股上市申请，不仅是对公司自身实力的一次全面展示，更是其迈向国际化、实现跨越式发展的重要里程碑。未来，拓 斯达将继续秉承创新、务实、高效的企业精神，不断提升核心竞争力，为全球工业自 ...

1月16日，信捷电气涨4.03%，成交额4.80亿元。两融数据显示，当日信捷电气获融资买入额6067.43万 元，融资偿还4557.67万元，融资净买入1509.76万元。截至1月16日，信捷电气融资融券余额合计3.11亿 元。 融资方面，信捷电气当日融资买入6067.43万元。当前融资余额3.11亿元，占流通市值的3.46%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，信捷电气1月16日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量4900.00股，融券余额31.61万元，超过近一年90%分位水平，处于高位。 资料显示，无锡信捷电气股份有限公司位于江苏省无锡市滨湖区建筑西路816号信捷大厦，成立日期 2008年4月22日，上市日期2016年12月21日，公司主营业务涉及工业自动化控制产品的研发、生产和销 售,为OEM自动化行业提供智能控制系统解决方案。主营业务收入构成为：设备销售及其他主营业务 99.78%，其他(补充)0.22%。 截至9月30日，信捷电气股东户数1.26万，较上期增加1.33%；人均流通股11093股，较上期减少1.31%。 202 ...

Group 1 - The core viewpoint of the news is that TuoSiDa's stock performance and financial metrics indicate a mixed outlook, with a notable increase in net profit despite a decline in revenue [1][2] Group 2 - On January 16, TuoSiDa's stock rose by 3.42%, with a trading volume of 1 billion yuan [1] - The financing buy-in amount for TuoSiDa on the same day was 105 million yuan, with a net buy of 22.86 million yuan [1] - As of January 16, the total balance of margin trading for TuoSiDa was 636 million yuan, accounting for 3.99% of its market capitalization [1] Group 3 - As of September 30, TuoSiDa had 71,600 shareholders, a decrease of 17.93% from the previous period [2] - The average number of circulating shares per shareholder increased by 21.85% to 4,638 shares [2] - For the period from January to September 2025, TuoSiDa reported revenue of 1.688 billion yuan, a year-on-year decrease of 24.49%, while net profit attributable to shareholders increased by 446.75% to 49.34 million yuan [2] Group 4 - TuoSiDa has distributed a total of 284 million yuan in dividends since its A-share listing, with 48.18 million yuan distributed over the past three years [2] - Among the top ten circulating shareholders, notable increases in holdings were observed for several ETFs related to the robotics industry [2]

专题：2026年度投资策略|顶级基金公司、基金经理展望马年投资机会 在近期一场面向投资人的交流中，淡水泉投资创始人、CIO赵军与淡水泉（香港）总裁、首席经济学家 陶冬博士展开对话，回顾2025，并系统阐述了对2026年中国资本市场的展望与投资策略。赵军认为， 2026年市场逻辑将从估值修复转向盈利驱动，捕捉未被充分认知的"预期差"将是全年最核心的机会。 对2025年的反思：团队决策水准获认可，机会把握仍有空间 回顾波澜起伏的2025年，赵军坦言，年初并非轻装上阵，而是背负着过往的业绩压力。他给自己在2025 年的表现打出两个分数：从业绩结果看可打80分；但从把握市场呈现机会的角度看，则需下调至70分。 他解释称，在A股和港股市场仍错过了不少本可更好把握的机会，从产业组、基金经理到宏观团队，任 何环节的疏漏都可能导致机会溜走。未来将通过加强团队协同，争取在2026年做得更好。 展望2026：情绪升温、叙事形成、逻辑转换 谈及2026年，赵军指出，经历了2025年，投资者情绪普遍更为乐观。他认为今年市场可能呈现三大特 征：第一，投资者对中国资产的偏好升温，市场对宏观及地缘冲突趋于"脱敏"成为新共识；第二，围 绕" ...

Group 1 - The core viewpoint of the article highlights that the company, Invt, is actively enhancing its international strategy to promote overseas applications of its industrial internet platform [2] - The company has achieved partial deployment and application of its industrial internet platform in regions such as Southeast Asia and Europe [2]

报告期内，受主营业务所处行业周期性调整影响，下游市场整体需求释放节奏放缓，客户投资决策更为 审慎，致使公司新订单获取及存量项目的推进速度均低于预期，收入规模同比收缩；同时，行业竞争在 调整期内进一步加剧，对公司投标策略、产品定价、整体盈利造成阶段性影响。此外，基于财务审慎性 与现金流安全考量，公司在报告期内执行了更为严格的客户信用管理，对经评估存在较高回款风险的业 务机会作出了战略性取舍。前述因素共同导致公司本期营业收入与净利润同比出现下滑。面对当前行业 挑战，公司将继续保持研发投入强度，加速产品升级与技术创新，强化运营效率与成本管控，努力提升 经营韧性，为长远发展夯实基础。 格隆汇1月16日丨工大高科(688367.SH)公布，经财务部门初步测算，公司预计2025年年度实现归属于母 公司所有者的净利润800.00万到1,150.00万元，同比减少56.23%到69.55%。预计归属于母公司所有者的 扣除非经常性损益的净利润210.00万元到310.00万元，同比减少84.76%到89.68%。 ...

报告期内，受主营业务所处行业周期性调整影响，下游市场整体需求释放节奏放缓，客户投资决策更为 审慎，致使公司新订单获取及存量项目的推进速度均低于预期，收入规模同比收缩；同时，行业竞争在 调整期内进一步加剧，对公司投标策略、产品定价、整体盈利造成阶段性影响。此外，基于财务审慎性 与现金流安全考量，公司在报告期内执行了更为严格的客户信用管理，对经评估存在较高回款风险的业 务机会作出了战略性取舍。前述因素共同导致公司本期营业收入与净利润同比出现下滑。面对当前行业 挑战，公司将继续保持研发投入强度，加速产品升级与技术创新，强化运营效率与成本管控，努力提升 经营韧性，为长远发展夯实基础。 格隆汇1月16日丨工大高科(688367.SH)公布，经财务部门初步测算，公司预计2025年年度实现归属于母 公司所有者的净利润800.00万到1,150.00万元，同比减少56.23%到69.55%。预计归属于母公司所有者的 扣除非经常性损益的净利润210.00万元到310.00万元，同比减少84.76%到89.68%。 ...