Core Points - The "Agreement on Trade in Services and Investment between the Government of the People's Republic of China and the Government of the Republic of Belarus" will be signed on August 22, 2024, and will officially take effect on January 1, 2026 [1] - The agreement aims for high-level mutual openness in service trade and investment between China and Belarus, utilizing a positive list approach for service trade commitments [1] - Specific facilitation rules are established for seven key service sectors: telecommunications, transportation and logistics, finance, postal and express delivery, health, tourism and travel, and computing [1] - For non-service investment, a "pre-establishment national treatment plus negative list" model is adopted, along with comprehensive investment protection rules [1] - The agreement also includes provisions on temporary movement of natural persons, e-commerce, intellectual property, competition, small and medium-sized enterprises, and dispute resolution [1] - This agreement marks the first free trade agreement signed by China with a member of the Eurasian Economic Union, enhancing bilateral trade and investment cooperation potential between China and Belarus [1]

上周A股市场整体呈现强劲上涨态势，主要宽基指数普遍收高。市场风格延续资源品与科技成长占优的 特征，大消费回调。行业方面，有色金属（贵金属+工业资源品）、军工（商业航天）、电力设备（数 据中心电力）等领涨，大消费、银行、煤炭等转跌。 宏观分析：国内将继续实施更加积极的财政政策 国内方面，全国财政工作会议在北京召开，会议指出，2026年继续实施更加积极的财政政策。扩大财政 支出盘子，确保必要支出力度。会议要求，2026年财政工作抓好六项重点任务，包括坚持内需主导，大 力提振消费，加大对新质生产力、人的全面发展等重点领域投入；加快培育壮大新动能，进一步增加财 政科技投入；进一步强化保基本、兜底线，促进居民就业增收等。 国家统计局数据显示，1-11月全国规上工业企业利润增速回落，制造业整体利润增速领先。1-11月份， 全国规模以上工业企业实现利润总额66268.6亿元，同比增长0.1%，保持增长但增速有所回落。其中， 1-11月制造业实现利润总额50317.9亿元，增长5.0%；计算机、通信和其他电子设备制造业利润同比增 长15.0%，电力、热力生产和供应业增长11.8%，有色金属冶炼和压延加工业增长11.1%，汽车 ...

Investment Rating - The report assigns an "Outperform" rating to the industry, with specific buy and hold recommendations for companies such as Daotong Technology, Shiji Information, Ninebot, Wanxing Technology, and Guangyun Technology [2]. Core Insights - The report emphasizes that the "Tech Going Global" strategy is imperative and timely, despite the complexities and challenges faced by Chinese tech companies in overseas markets [14][15]. - It highlights the significant growth in China's tech exports, particularly in sectors like robotics and artificial intelligence, which are becoming key drivers of the economy [23][24]. - The report identifies four advantageous segments for investment in overseas expansion: market transplant type, single-point breakthrough type, platform going global type, and synchronous advancement type [54][55]. Summary by Sections Industry Investment Rating - The report provides specific stock ratings for companies, indicating a strong market outlook for the technology sector [2]. Key Trends in Tech Going Global - The report notes that the export of new "new three samples" (robots, AI, innovative drugs) is gaining momentum, with significant technological advancements leading to commercial viability [23][24]. - It discusses the increasing influence of Chinese tech companies in global markets, particularly in AI, where China holds a substantial share of global patents [31][34]. Investment Opportunities - The report outlines that sectors such as fintech and smart cities are well-positioned for overseas expansion due to their maturity in the domestic market and the potential for replicating successful models in emerging markets [56][57]. - It emphasizes the importance of adapting to local market needs and leveraging China's technological capabilities to meet global demands [37][38]. Market Dynamics - The report highlights the shift in China's export focus from consumer goods to technology-intensive products, marking a transition from "Made in China" to "Created in China" [29][30]. - It discusses the favorable conditions in regions like Southeast Asia, where digital infrastructure is improving, creating opportunities for Chinese tech firms [38][39]. Company-Specific Insights - The report provides detailed analysis on specific companies, including their overseas revenue contributions and growth potential, indicating a trend of increasing international business [53].

2025.12. 31 本文字数：760，阅读时长大约2分钟 作者 | 一财阿驴 12月31日，A股2025年交易收官，截至收盘，沪指涨0.09%录得11连阳，全年收涨18.41%创10 年新高；深成指跌0.58%，全年收涨29.87%；创业板指跌1.23%，全年大涨49.57%。科创50指 数全年涨35.92%，北证50指数全年涨38.8%。 | 代码 | | 涨幅量 | 现价 | | --- | --- | --- | --- | | 300028 | 蓝色光标 | +20.00% | 11.52 | | 301171 | 易点天下 | +10.23% | 40.50 | | 002908 | 德生科技 | +10.03% | 10.53 | | 002659 | 凯文教育 | +9.94% | 5.86 | | 300170 | 汉得信息 | +7.26% | 18.92 | | 300786 | 值得买 | +6.98% | 43.82 | | 688362 | 光云科技 | +6.64% | 16.87 | | 300846 | 首都在线 | +5.35% | 22.83 | | 300781 | ...

2025年境内资本市场首发上市（IPO）市场交出亮眼答卷，企业上市热情持续高涨，市场格局呈现多重鲜明特征。全年新增首发上市企业共计116家，较 2024年同比增长16%，在资本市场深化改革的背景下，实现规模与质量的双重提升。 行业分布上，2025年境内IPO企业聚焦高端制造赛道，产业集聚效应十分突出。计算机、通信和其他电子设备制造业以23家的上市数量位居首位，成为资本 市场的"吸金"主力；专用设备制造业紧随其后，新增14家上市企业，彰显高端装备制造领域的强劲发展动能；电气机械和器材制造业、汽车制造业并列第 三，均有12家企业成功登陆资本市场，新能源与智能汽车产业链的蓬勃发展可见一斑。此外，专业技术服务业、化学原料和化学制品制造业、橡胶和塑料制 品业分别贡献8家、7家、7家上市企业，高端制造与新材料领域成为资本市场关注的核心赛道。 从板块分布来看，多层次资本市场的差异化定位进一步凸显，各板块上市节奏分化显著。创业板凭借33家的新增上市企业数量领跑全场，成为创新创业企业 登陆资本市场的核心阵地；北交所紧随其后，贡献26家上市企业，在服务专精特新中小企业方面的作用持续显现；沪市主板、科创板、深市主板分别新增23 家 ...

12月31日，天眼查融资历程显示，芜湖楚睿智能科技有限公司近日获得"C轮"融资，涉及融资金额数亿 人民币，投资机构为安徽国控集团，海螺集团，松江国投。 天眼查信息显示，芜湖楚睿智能科技有限公司的股东为：张怀、芜湖不忘初芯企业管理合伙企业（有限 合伙）、智慧互联电信方舟（深圳）创业投资基金合伙企业（有限合伙）、上海芯小智大企业管理合伙 企业（有限合伙）、聚源中小企业发展创业投资基金（绍兴）合伙企业（有限合伙）。 来源：市场资讯 资料显示，芜湖楚睿智能科技有限公司法定代表人为张怀，成立于2016年，位于芜湖市，是一家以从事 计算机、通信和其他电子设备制造业为主的企业。企业注册资本4297.5974万人民币，并已于2025年完 成了C轮，交易金额数亿人民币。 通过天眼查大数据分析，芜湖楚睿智能科技有限公司共对外投资了4家企业，知识产权方面有商标信息7 条，专利信息82条，此外企业还拥有行政许可6个。 ...

| 向复权 超级叠加 画线 工具 役 ② | | 中证1000ETF | 159845 | | --- | --- | --- | --- | | T 换1.92% 振0.89% 额9.64亿 | 3.138 | | +0.003 +0.10% | | 2025/09/12-2025/12/31(73日) | | | | | | | SZSE CNY 13:36:21 交易中 融 △ ○ + | | | 3.160 | 净值走势 | | 华夏中证1000ETF | | | 委比 | 9.97% 委差 | 22228 | | | 卖五 | 3.142 | 8715 | | 3.110 | 卖叫 | 3.141 | 7497 | | | | 3.140 | 24818 | | | | 3.139 | 28918 | | 3.060 | | 3.138 | 30395 | | | | 3.137 | 1999 | | | 发 | 3.136 | 36596 | | 3.010 | ポー | 3.135 | 52447 | | | 买四 | 3.134 | 18583 | | | 采 | 3.133 | 12946 ...

Group 1 - The core viewpoint of the news highlights the successful completion of the A-share IPO review process for 2025, with a total of 113 companies reviewed and an overall approval rate of 97.35%, reflecting a significant improvement in the quality of applications and regulatory standards [1] - The main board and the ChiNext board showed robust performance, with both the Shanghai main board (19 companies), Shenzhen main board (10 companies), and ChiNext (14 companies) achieving a 100% approval rate, indicating precise support for mature and innovative enterprises [1] - The Beijing Stock Exchange emerged as a key platform for reviewing innovative small and medium-sized enterprises, with 51 companies reviewed and a 96% approval rate, showcasing the continuous release of market vitality [1] Group 2 - The leading underwriting institutions demonstrated a significant "winner-takes-all" effect, with Guotai Junan leading with 16 approved projects, followed by CITIC Securities (12) and CITIC Jianzhong Securities (11), solidifying their positions in the top tier [3] - The distribution of industries indicates a marked improvement in the capital market's service to the real economy, with a concentration of resources in high-tech manufacturing. The computer, communication, and other electronic equipment manufacturing sectors led with 20 companies reviewed, followed by specialized equipment manufacturing (17 companies) [4] - The automotive manufacturing and electrical machinery sectors each had 10 companies reviewed, clearly outlining the financing dominance of "hard technology" and high-end manufacturing, providing strong support for cultivating new productive forces [4]

在AI加持下，电子板块今年以来涨近50%，在31个申万一级行业中位居第三。尽管四季度以来，电子板 块呈现区间震荡态势，但展望2026年，其中不少细分领域仍获得机构青睐，AI有望继续成为产业和市 场行情向上的重要驱动力。 东兴证券认为，2025年适逢AI产业周期叠加业绩释放期，电子板块持续受到机构投资者青睐，2026年 建议沿AI创新周期，布局新技术、新需求和新周期，掘金优质赛道：存储行业迎来上行周期，AI驱动 供需失衡推动价格进入超级周期；AI算力发展推动AI芯片与高性能存储需求，显著提升测试复杂度与 时间，带动测试机市场量价齐升，半导体测试设备值得关注；算力网拉动承载算力需求的服务器磁性元 件规模增长，与此同时，高效算力也倒逼磁性元件高端化，看好相关受益标的。 Wind数据显示，2025年以来，A股有超2800家公司接待券商调研，其中科技股关注热度较高。接待券商 调研频次前十的标的中，来自电子行业的上市公司达5家，医药生物、计算机等行业同样是券商密集调 研的方向。 2026年，科技成长方向继续获得业内机构看好，部分行业景气度有望延续，机构建议关注存储、半导体 测试设备、创新药、AI应用等产业机会。 电子板块 ...

Group 1 - As of December 30, the margin balance of A-shares reached 25,552.84 billion yuan, an increase of 35.5 billion yuan from the previous trading day, accounting for 2.59% of the A-share circulating market value [1] - The trading volume of margin financing on the same day was 2,300.23 billion yuan, a decrease of 0.3 billion yuan from the previous trading day, representing 10.63% of the total A-share trading volume [1] - Among the 31 primary industries, 20 experienced net financing inflows, with the automotive industry leading at a net inflow of 1.177 billion yuan [1] Group 2 - A total of 37 individual stocks had net financing inflows exceeding 100 million yuan, with Qiangyi Co., Ltd. leading at a net inflow of 549 million yuan [1] - Other notable stocks with significant net financing inflows included Sanhua Intelligent Controls, Zhaoyi Innovation, Xiechuang Data, China Satellite Communications, Kweichow Moutai, SMIC, Saiwei Electronics, Huichuan Technology, and Fulongma [1][2] - The report from Yongxing Securities indicates continued policy support for automotive consumption, alongside steady growth in new energy vehicle sales, maintaining an "overweight" rating for the automotive industry [2]