Core Insights - The report emphasizes the importance of proactive discovery in the financial market rather than merely relaying information [2] Macro News Summary - The first batch of 625 billion yuan of ultra-long special government bonds for supporting the consumption upgrade plan has been allocated ahead of schedule for 2026 [6] - In 2026, continued support for new energy city buses and battery updates has been announced by two departments [7] - Four departments are promoting the large-scale application of intelligent robots in welding, spraying, and assembly in the automotive industry [7] Industry Latest Developments - The Ministry of Education will systematically promote artificial intelligence education and applications, with related stocks including Dou Shen Education (300010) and Kede Education (300192) [9] - Four departments are pushing for the large-scale application of intelligent robots in various segments of the automotive industry, with related stocks including Junsheng Electronics (600699) and Sanhua Intelligent Control (002050) [9] - A new type of simulation computing chip has been successfully developed in China, achieving a thousand-fold increase in energy efficiency, with related stocks including Shengbang Co., Ltd. (300661) and Tulan Micro (600460) [9] Focus on Listed Companies - Lexin Technology (688018) announced a partnership with Bosch Sensortec to jointly launch an innovative human-machine interaction solution based on motion perception and large model capabilities [11] - Robotec (300757) stated on its interactive platform that the world's first 300mm double-sided wafer testing platform, developed in collaboration with TSMC and NVIDIA, has completed reliability testing [11] - Xicai Testing (301306) has officially signed a strategic cooperation agreement with Shaanxi Huada, moving from single business cooperation to a new stage of comprehensive and in-depth collaborative development [11] Market Review and Outlook - On December 31, the total trading volume of the two markets was 20,451 billion yuan, with 2,359 stocks rising and 2,608 stocks falling. The net capital outflow was 546.32 billion yuan, with a decrease in trading volume of 972 billion yuan compared to the previous day [13] - The Shanghai Composite Index opened slightly higher but showed a narrow range of fluctuations, forming a doji candlestick pattern, while the Shenzhen Component Index opened higher but closed lower [13] - Market hotspots included satellite navigation, AI agents, and commercial aerospace sectors, which saw significant capital inflows, while sectors like pharmaceuticals and liquor experienced declines [13] - The report indicates that if the Shanghai Composite Index cannot maintain volume to absorb profit-taking pressure, it may test the strong support level of 3,930 points [14]

资料显示，钜泉光电科技(上海)股份有限公司位于中国(上海)自由贸易试验区张东路1388号16幢101室， 成立日期2005年5月19日，上市日期2022年9月13日，公司主营业务涉及智能电网终端设备芯片的研发、 设计和销售,可以为客户提供丰富的芯片产品及配套服务。主营业务收入构成为：智能电表芯片 85.13%，物联网及其他芯片14.61%，其他0.27%。 截至9月30日，钜泉科技股东户数7277.00，较上期增加7.43%；人均流通股15828股，较上期增加 87.10%。2025年1月-9月，钜泉科技实现营业收入4.08亿元，同比减少9.17%；归母净利润4453.66万元， 同比减少37.71%。 分红方面，钜泉科技A股上市后累计派现2.24亿元。 责任编辑：小浪快报 12月31日，钜泉科技跌0.21%，成交额2225.68万元。两融数据显示，当日钜泉科技获融资买入额248.34 万元，融资偿还171.92万元，融资净买入76.42万元。截至12月31日，钜泉科技融资融券余额合计1.48亿 元。 融资方面，钜泉科技当日融资买入248.34万元。当前融资余额1.48亿元，占流通市值的4.55%，融资余 额 ...

此前，黑芝麻智能发布公告称，其附属公司SPV(黑芝麻智能武汉就股权转让事宜及增资事项设立的特 殊目的公司)通过股权转让及增资，收购目标公司珠海亿智电子科技有限公司(亿智电子)合共60%股权， 总现金代价4.578亿人民币，拟以内部资源及/或银行融资拨付。据悉，目标公司专注于高性价比、低功 耗人工智能(AI)系统芯片(SoC)及解决方案的开发与销售。 消息面上，1月4日，黑芝麻智能宣布，其高性能全场景智能驾驶芯片——华山A2000，已顺利通过美国 商务部和国防部的相关审查，获准在全球范围内销售与应用。此举标志着A2000芯片正式进入规模化应 用阶段，将为高阶智能驾驶的商业化落地提供核心算力支持。据悉，华山A2000芯片基于7nm先进工艺 打造，集成高性能CPU、GPU、NPU及多种专用计算单元，实测性能媲美当前全球顶尖的智驾芯片。 黑芝麻（000716）智能(02533)高开逾5%，截至发稿，涨5.58%，报20.62港元，成交额472.4万港元。 ...

消息面上，1月4日，黑芝麻智能宣布，其高性能全场景智能驾驶芯片——华山A2000，已顺利通过美国 商务部和国防部的相关审查，获准在全球范围内销售与应用。此举标志着A2000芯片正式进入规模化应 用阶段，将为高阶智能驾驶的商业化落地提供核心算力支持。据悉，华山A2000芯片基于7nm先进工艺 打造，集成高性能CPU、GPU、NPU及多种专用计算单元，实测性能媲美当前全球顶尖的智驾芯片。 智通财经APP获悉，黑芝麻智能(02533)高开逾5%，截至发稿，涨5.58%，报20.62港元，成交额472.4万 港元。 此前，黑芝麻智能发布公告称，其附属公司SPV(黑芝麻智能武汉就股权转让事宜及增资事项设立的特 殊目的公司)通过股权转让及增资，收购目标公司珠海亿智电子科技有限公司(亿智电子)合共60%股权， 总现金代价4.578亿人民币，拟以内部资源及/或银行融资拨付。据悉，目标公司专注于高性价比、低功 耗人工智能(AI)系统芯片(SoC)及解决方案的开发与销售。 ...

Group 1 - Venezuela remains a focal point in the news, with oil being a central topic. Despite having the largest global reserves, Venezuela's heavy crude oil exports are limited, suggesting minimal short-term impact on international oil prices. It is anticipated that crude oil futures may see only a brief spike without sustained increases [1] - The recent release of the "Solid Waste Comprehensive Management Action Plan" aims to enhance the reduction of industrial solid waste at the source and eliminate outdated production capacity. This plan emphasizes the integrated construction of non-ferrous metal mining and processing, which is expected to positively influence the non-ferrous metal market in the medium to long term due to anticipated supply shortages amid strong demand [2] Group 2 - The performance of the A-share market is influenced by external factors, with the recent mixed performance of major US tech stocks having a limited impact on A-share tech stocks. In contrast, the Hong Kong market showed strong performance, with the Hang Seng Tech Index experiencing a significant increase of 4%, marking the largest gain on the first trading day of the year in five years [3] - The rise in Hong Kong tech stocks, particularly driven by chips, is expected to positively affect A-share chip stocks. The performance of leading chip companies on the STAR Market is likely to boost the STAR Index and the Shanghai Composite Index. However, there is caution regarding the potential for a high opening, which could lead to a high open-low close scenario [5]

日本股市早盘走高，受芯片和重工业股带动，尽管美国罢免委内瑞拉领导人马杜罗一事带来了能源价格 的不确定性。日经指数上涨2.2%，报51，442.83点。铠侠上涨8.4%，东京电子上涨4.6%，软银集团上涨 3.9%。与此同时，三菱重工业上涨5.7%，川崎重工业上涨4.8%。投资者正在关注日元走势、油价以及 美国治理委内瑞拉计划的任何明朗化迹象。 日本股市早盘走高，受芯片和重工业股带动，尽管美国罢免委内瑞拉领导人马杜罗一事带来了能源价格 的不确定性。日经指数上涨2.2%，报51，442.83点。铠侠上涨8.4%，东京电子上涨4.6%，软银集团上涨 3.9%。与此同时，三菱重工业上涨5.7%，川崎重工业上涨4.8%。投资者正在关注日元走势、油价以及 美国治理委内瑞拉计划的任何明朗化迹象。 责任编辑：王永生 MACD金叉信号形成，这些股涨势不错！ 责任编辑：王永生 MACD金叉信号形成，这些股涨势不错！ ...

昨天（1月4日），记者从苏州市新型工业化推进会议暨"AI+制造"创新发展大会上获悉，苏州将深 入贯彻落实国家、省"人工智能+"行动部署，大力实施"AI+制造"八大行动，全面推动人工智能与制造业 深度融合发展。 通过智能终端品牌塑造行动，苏州聚焦具身智能机器人、智能消费电子终端、智能高端装备等九大 细分领域，打响智能终端苏州品牌；加快推进智能终端产品在工业制造、政务服务、医疗健康等领域应 用，培育入库智能终端产品超300个。在平台载体赋能行动中，苏州将高水平建设国家人工智能应用中 试基地，遴选建设10个制造业重点行业人工智能应用赋能中心，建好一批产业创新中心，推动"模术空 间"等平台载体深度赋能行业发展。 作为推动制造业高质量发展的关键举措，此次"AI+制造"八大行动将从大模型培育、数据支撑、场 景应用、品牌培育等多个维度协同发力，构建人工智能与制造业深度融合的创新生态。 算力供给提质行动将着力构建高效智能算力网络，持续升级苏州市公共算力服务平台功能，通 过"算力券"补贴等形式，为中小企业提供普惠易用算力服务，力争全市算力总规模达40000PFLOPS。标 准体系引领行动支持企业开展工业大模型评价标准研究和评测 ...

长江商报消息 ●长江商报记者 沈右荣 2025年最后一天，第二大牛股天普股份（605255.SH）收到了监管函。 2025年12月31日晚间，天普股份公告，公司收到监管函，处理事由为涉嫌信息披露违规。涉及对象，除 了上市公司天普股份，还包括董事、高管以及控股股东及实际控制人。 天普股份究竟在哪些方面涉嫌信息披露违法违规，公司没有披露。 12月30日晚，天普股份发布公告，自2025年8月22日至12月30日股价累计上涨718.39%，公司就近期股 票交易情况进行停牌核查，股票于12月31日起停牌。 这已是天普股份近四个月第五次停牌核查。 K线图显示，2025年，公司股价从年初12.59元/股涨至年末的218.02元/股，累计涨幅1631.69%。 超过16倍的涨幅，仅次于上纬新材，位居A股第二。 天普股份股价大涨，源于中昊芯英借壳上市预期。目前，公司已经易主，杨龚轶凡成为公司实际控制 人。 尽管天普股份一再否认借壳等动作，但这并未影响市场预期。 2025年前三季度，天普股份实现的营业收入、归母净利润分别为2.30亿元、1785.08万元，同比下降 4.98%、2.91%。 信披违规，天普股份究竟有多少不为人知的 ...

Core Viewpoint - The article discusses the evolution of acqui-hire strategies in Silicon Valley, highlighting a shift from beneficial talent acquisitions to a method for large companies to eliminate competition, exemplified by Nvidia's acquisition of Groq for $20 billion, which effectively neutralized a potential rival in the AI chip market [5][6][7]. Group 1: Acqui-hire Evolution - Acqui-hire has transformed from a mutually beneficial exit strategy for startups to a tool for larger companies to eliminate competition without formal acquisitions [7][24]. - The acquisition of Groq by Nvidia involved the transfer of key personnel and technology while leaving behind a shell company, indicating a strategic move to maintain the appearance of competition [6][7]. - Historical examples, such as Facebook's acquisition of Instagram, illustrate a time when acqui-hire was seen as a win-win for all parties involved, with founders and employees benefiting significantly [9][10][11]. Group 2: Recent Trends and Comparisons - In 2024, several high-profile talent acquisitions occurred without formal purchases, with companies like Microsoft and Google opting for "technology licensing + talent recruitment," leaving behind empty shells [23][25]. - The financial outcomes of these recent transactions show a stark contrast to earlier acqui-hire deals, with only a small percentage of employees benefiting from the deals, highlighting a shift in the distribution of financial rewards [24][26]. - The article contrasts the U.S. market's approach to talent acquisition with China's, where large companies prefer to directly recruit talent rather than acquiring startups, leading to different market dynamics and outcomes for entrepreneurs [30][31][33]. Group 3: Market Implications - The changing landscape has made it increasingly difficult for startups to attract talent, as graduates prefer stable positions in large companies over the risks associated with startups [26]. - The article notes a significant decline in the number of AI startups in China, indicating a market that is rapidly differentiating between companies with commercial viability and those without [32]. - The contrasting fates of Groq and a Chinese startup, 波形智能, illustrate the divergent paths of companies in the two markets, with one being eliminated by a large acquisition and the other struggling to survive in a competitive environment [33].

智通财经APP获悉，2026年国际消费电子展(CES)将于1月6日在拉斯维加斯正式拉开帷幕，届时英伟达 掌门人黄仁勋、AMD首席执行官苏姿丰将发表重要演讲。阿里巴巴、联想、三星电子、LG等亚洲科技 力量将集中亮相CES，事关英特尔代工业务命运的首款"18A"芯片届时也将浮出水面。CES 2026的主题 依旧围着AI而展开，但变化的是，AI将转入场景落地阶段。外界一致认为，AI硬件应用有望成为本次 CES的重中之重。 英特尔代号为 Panther Lake 的第三代酷睿 Ultra 处理器，作为首款基于 Intel 18A 制程工艺的客户端芯 片，不仅融合了 Lunar Lake 的高能效与 Arrow Lake 的高性能，更以 XPU 异构架构重构 AI 算力分配逻 辑，为 AI PC 智能体的规模化落地奠定核心基础。兼具Lunar Lake的高能效和Arrow Lake高性能、可 扩展性的优势，全新架构的CPU、GPU性能相比上代提升了50%，加上最新的NPU 5，平台总体AI算力 最高可达180TOPS，较上代提升50%。 AI 机器人方面，特斯拉第三代人形机器人Optimus-3或许将在CES迎来首秀。 ...