↓中国2025年12月外汇储备数据将公 2 2026 (第十六届) 中国互联网产业: 月7日至8日在北京召开 3 美国2025年12月ADP就业人数变动 值-3.2 4 美国2025年12月ISM非制造业指数: 52.6 5 美国2025年10月耐用品订单环比终 值-2.2 每经编辑｜王瀚黎 王晓波 1 隔夜市场 美股三大指数集体收涨，道指涨0.99%，纳指涨0.65%，标普500指数涨0.62%，其中，道指、标普500指数均创历史收盘新高；费城半导体指数涨2.75%，创 历史新高；大型科技股涨跌不一，亚马逊涨超3%，微软、英特尔涨逾1%，Meta小幅上涨；特斯拉跌超4%，苹果跌超1%，英伟达、谷歌、奈飞小幅下跌； 美光科技涨超10%，再创历史新高。中概股涨跌不一，纳斯达克中国金龙指数跌0.78%，禾赛涨超10%，小马智行涨逾5%，华住、联电涨逾4%，霸王茶 姬、传奇生物涨逾3%，贝壳、携程网等涨逾1%，满帮、网易等小幅上涨；腾讯音乐跌逾4%，阿里巴巴跌超3%，百度、理想汽车等跌超1%。 国际油价大幅走低，截至发稿时，美油主力合约跌2.38%，报56.93美元/桶；布伦特原油主力合约跌2.06%，报60.49 ...

中经记者 杨让晨 上海报道 从博物馆文物冰箱贴在社交网络上爆红，到《黑神话：悟空》引领热潮，再到景德镇陶瓷文化占领消费 者心智，一股源自东方美学的国潮正加速重塑中国消费市场。如今，国潮已经成为驱动经济增长的重要 力量，其市场规模预计将突破2.5万亿元。 在此背景下，彰显东方美学的中国品牌正迎来换档升级新机遇。然而，在流量红利见顶、行业不确定性 加剧的当下，中国品牌如何穿越周期、实现可持续增长，亦是企业必须面对的现实命题。 日前，财经作家吴晓波、君智战略咨询董事长谢伟山、大江会创始人贾鹏雷与林清轩创始人孙来春、中 国连锁经营协会副会长武瑞玲、上海国际时尚联合会常务副会长殷姿、青眼创始合伙人李惠华、品观创 始人邓敏等在沪开展了圆桌对话，共话中国品牌新机遇。 《中国经营报》记者注意到，在上述圆桌对话中，嘉宾们普遍认为，中国品牌正从"野蛮生长"进入"品 质生长"的换档期，短期投机正在被淘汰，真正具备长期主义能力的企业，反而迎来结构性机会。日 前，国产品牌"林清轩"正式在香港交易所主板挂牌上市，成为港股市场"国货高端护肤第一股"，就是非 常典型的例子。 谢伟山则从心智竞争的角度强调，在流量成本高企、渠道红利消退的背景下 ...

12月30日，林清轩在港交所正式挂牌上市，"国货高端护肤第一股"自此诞生。 1、超级大单品破局，"细胞级抗皱"支撑强劲增长 摘得"国货高端护肤第一股"桂冠背后，林清轩最坚实的基石莫过于其标志性的山茶花精华油以及其不断迭代的科技内核，这也为其长期增长注入了确定性动 能。 可以看到，灼识咨询的资料显示，按2024年零售额计，林清轩成为了中国前15大高端护肤品牌中唯一的国货品牌，在中国所有高端国货护肤品牌中排名第 一。 这不仅仅是一次资本的加冕，更是一个标志性的行业事件：这意味着在长期由国际巨头定义规则的高端护肤领域，终于有中国品牌凭借扎实的产品力与清晰 的品牌策略，叩开了资本市场的大门。 上市仪式上，公司创始人孙来春表示，"将持续加大皮肤学、植物学及护肤品前沿科技的研发投入，同时加码品牌建设与零售门店布局，继续升级山茶花精 华油、小金珠精华水、黑金面霜等高品质热销大单品，为顾客创造极致护肤体验，为股东创造更高价值，也为更多山茶花的种植农民带来更高的收入"。 上市远非终点，而是林清轩下一轮增长的全新起点。一个更具潜力的美妆龙头轮廓正加速勾勒，其成长路径已愈发清晰。 撑起这份成绩的，正是山茶花精华油难以撼动的品类统治 ...

六个IPO的集体亮相，不仅代表着热闹纷繁的港股2025年IPO正式收官，从硬科技到新消费，从行业龙头到细分赛道王者，六家公司涵盖AI制药、数字孪 生、家庭机器人、高端国货护肤等多元赛道，也折射出香港资本市场的强劲韧性。 英矽智能、林清轩、迅策、卧安机器人、美联股份、五一视界（51WORLD）的公司市值分别超167亿港元、118亿港元、156亿港元、164亿港元、9亿港 元、161亿港元。 21世纪经济报道记者 吴佳楠 深圳、香港报道 今天的港交所大厅，注定是2025年度最热闹的一幕。 12月30日，英矽智能（3696.HK）、林清轩（2657.HK）、迅策（3317.HK）、卧安机器人（6600.HK）、美联股份（2671.HK）、五一视界（6651.HK）等6 家公司同日鸣锣挂牌，呈现"六锣齐鸣"的盛况。 截至收盘，六家公司的股价都出现不同程度的涨幅，均无破发。 "六锣齐鸣" 此次同日上市的6家企业，赛道分布多元且踩中市场风口，既有硬核科技的前沿探索，也有新消费的国货崛起，其中科技类企业占据半壁江山。 在港交所敲钟仪式现场，卧安机器人创始人、董事长兼CEO李志晨激动表示："我今年34岁，我至少还工作40年， ...

强一股份于科创板上市，发行价格85.09元/股。截至发稿股价报233.01元/股，涨幅为173.84%，总市值 为301.9亿元。若投资者中一签并以早间曾达到的最高价276.82元/股卖出，将获利9.59万元。 12月30日，在2025年的倒数第二个交易日，A、H两地共迎来9只新股首发上市，热闹非凡。 A股方面，双欣环保、誉帆科技、强一股份三只新股今日上市。其中，双欣环保于深交所主板上市，发 行价6.85元/股。截至发稿股价报20.71元/股，涨幅为202%，总市值为237.5亿元。若投资者中一签并以 早间曾达到的最高价25元/股卖出，将获利9075元。 誉帆科技于深交所主板上市，发行价22.29元/股。截至发稿股价报55.81元/股，涨幅为150%，总市值为 59.66亿元。若投资者中一签并以早间曾达到的最高价64.50元/股卖出，将获利2.11万元。 截至发稿，英矽智能股价报34.28港元/股，涨幅为42.54%，总市值为191.1亿港元；五一视界报35.8港元/ 股，涨幅为17.38%，总市值为145.5亿港元；卧安机器人报73.8港元/股，总市值为164亿港元；林清轩报 88.25港元/股，总市值为1 ...

格隆汇12月29日｜12月30日(周二)，将有6只新股在港交所主板上市，港交所大厅将再现六锣齐鸣(上一 次有六面铜锣同时敲响是在7月9日)。6家公司分别是： 卧安机器人(6600.HK)：暗盘收跌8.67%报67.4港元。 人工智能(AI)驱动药物发现及开发公司英矽智能(3696.HK)：暗盘收涨53.26%报36.86港元； 预制钢结构建筑服务提供商美联股份(2671.HK)：暗盘收涨18.31%报8.4港元； 中国数据基础设施及分析公司迅策(3317.HK)：暗盘收涨2.04%报48.98港元； 中国数字孪生科技公司五一视界(6651.HK)：暗盘收涨23.54%报37.68港元； 中国高端国货护肤品牌林清轩(2657.HK)：暗盘收涨18.75%报92.35港元； ...

格隆汇12月29日｜12月30日(周二)，将有6只新股在港交所主板上市，港交所大厅将再现六锣齐鸣(上一 次有六面铜锣同时敲响是在7月9日)。6家公司分别是： 人工智能(AI)驱动药物发现及开发公司英矽智能(3696.HK)：暗盘收涨53.26%报36.86港元； 中国数字孪生科技公司五一视界(6651.HK)：暗盘收涨23.54%报37.68港元； 预制钢结构建筑服务提供商美联股份(2671.HK)：暗盘收涨18.31%报8.4港元； 中国数据基础设施及分析公司迅策(3317.HK)：暗盘收涨2.04%报48.98港元； 卧安机器人(6600.HK)：暗盘收跌8.67%报67.4港元。 | 代码 | 名称 | | 涨跌幅 √ | 最新价 | 总市值 | | --- | --- | --- | --- | --- | --- | | 03696 | 英矽智能 | | 53.26% | 36.860 | 205.46亿 | | 06651 | 五一视界 | | 23.54% | 37.680 | 153.11亿 | | 02657 | 林清轩 | | 18.75% | 92.350 | 128.98亿 | | 0 ...

云际生物执行董事张璐鸥强调："这不是一次简单的技术嫁接，而是医药级研发逻辑对护肤产业的系统 性赋能。联合实验室的核心使命，是让AI大模型真正理解皮肤衰老并且模拟干预机制，让每一次产品 迭代都建立在可计算、可预测的科学基础上。" 来源：中华网 近日，人工智能驱动生命科学（AI for BioScience）领域的新秀企业云际生物宣布，旗下专注科学衰老 生物学干预的医研护肤品牌野兽贝拉（Beast Bella）与科颜医药生物科技有限公司达成战略合作，并正 式成立联合实验室。此次合作标志着AI生物大模型与前沿皮肤科学的深度融合，旨在以科学智能加速 细胞外基质（ECM）衰老生物学干预技术的产业化进程，共同定义人工智能时代下的"医研级护肤"新 范式。 2025年8月有关单位发布的《人工智能+行动》明确指出，我国要"加快科学大模型建设应用，推动人工 智能与生物制造等领域技术协同创新，实现2027年新一代智能终端、智能体等应用普及率超70%"。当 下，中国生物科学正经历前所未有的数据爆炸和技术加速，为合成生物创造了巨大的商业创新窗口，云 际生物携最硬核的生命科学，以护肤领域作为首个切入的载体，顺应时代潮流，用前沿科学探索与 ...

Group 1 - DJI expresses regret over the FCC's decision to include all non-U.S. manufactured drones in the "Covered List," stating it limits consumer choice and undermines fair competition [1] - DJI emphasizes its commitment to providing innovative tools for image creators and highlights the safety and reliability of its products, validated by independent third parties [1] - The company plans to evaluate all possible paths to protect its and its global users' legal rights [1] Group 2 - Zontai Auto denies rumors of collaboration with OPPO and Vivo for restructuring, stating there is currently no partnership [2] - Speculation arises regarding the involvement of OPPO and Vivo in Zontai's restructuring due to the new board composition, which includes members with ties to Chery Auto [2] Group 3 - Beijing issues the first L3 level autonomous driving vehicle license plates, marking a significant step towards mass production of autonomous vehicles in China [2] - The L3 autonomous driving feature is currently limited to specific highway segments in Beijing, with restrictions on other areas [2] Group 4 - Volvo Cars in China undergoes a leadership change with HUYANHANG replacing Yuan Xiaolin as chairman, but the company clarifies that this is a routine administrative change and does not affect daily operations [3] - Yuan Xiaolin remains a senior vice president at Volvo Group and president of Volvo Cars Asia Pacific [3] Group 5 - Kuaishou reports that its live streaming function was restored after a network attack on December 22, 2025, and other services were not affected [5] - The company has initiated legal actions against the perpetrators of the attack to protect its interests [5] Group 6 - Apple faces a fine of €98.635 million (approximately ¥817 million) from Italy for abusing market dominance through its App Tracking Transparency policy [11] - Cumulatively, Apple has incurred over ¥20.7 billion in fines across multiple European countries this year for similar reasons [11] Group 7 - JD.com confirms that its Paris warehouse has resumed normal operations following a theft incident involving over 50,000 electronic devices valued at approximately €37 million (around ¥306 million) [12] - The company disputes reports of significant losses, stating that the actual situation differs from what has been reported [12] Group 8 - Geely's management restructuring is complete following the merger with Zeekr, with key executives assigned to new roles [8] - Li Donghui is now the vice chairman of Geely Holding Group, while An Conghui serves as CEO, overseeing overall operations [8] Group 9 - ByteDance plans to invest significantly in AI, with a projected capital expenditure of ¥160 billion (approximately $23 billion) in 2026, including ¥85 billion reserved for semiconductor procurement [11] - The company aims to enhance its AI infrastructure and capabilities through this investment [11]

Fixed Income - The central economic work conference indicates a continuation of moderately loose monetary policy, suggesting that the current environment remains conducive to rate cuts and reserve requirement reductions [2][10] - The net financing scale of government bonds in 2026 is expected to slightly increase to around 14.5 trillion yuan, maintaining a stable issuance without significantly increasing supply pressure [10][12] - Social financing growth is projected to decline to approximately 7.3% in 2026, with a total increment of around 34 trillion yuan [10][12] - The bond market in 2026 may perform better than expected, with a potential policy interest rate cut of about 20 basis points anticipated [12][18] Pharmaceutical Industry - The collagen market shows significant potential, with animal-derived products having distinct advantages; Baijin Medical has three types of animal collagen products, with the first type recently approved [4][23] - The domestic market for animal-derived collagen in functional skincare and medical dressings is projected to reach 243 billion yuan by 2027 [23] - Baijin Medical is expected to submit 12 product registrations this year, with ongoing product launches anticipated, driving long-term growth [4][23] New Consumption - The CPI in November increased by 0.7%, primarily driven by rising food prices, marking the highest growth since March 2024 [28][29] - Lin Qingxuan, a high-end domestic skincare brand, reported a revenue of 1.052 billion yuan in the first half of 2025, reflecting a year-on-year growth of 98.3% [29][30] - The company has a strong offline presence with 554 stores, over 95% of which are located in shopping malls, positioning it as a leader among domestic and international high-end skincare brands [29][30] Metal New Materials - The Federal Reserve's recent rate cut of 25 basis points has led to an increase in copper prices, with expectations of a supply-demand shift towards a shortage in the future [32][33] - The lithium market is experiencing strong demand, with lithium prices entering an upward cycle due to ongoing inventory depletion [35] - Cobalt prices are expected to continue rising due to a tight supply situation, with recent changes in export regulations from the Democratic Republic of Congo impacting the market [36] North Exchange - The recent adjustments to the North Exchange 50 and specialized indices are expected to enhance the quality and scale of listed companies, with a focus on performance and strong growth potential [39][40] - The market is showing signs of stabilization, with an emphasis on identifying undervalued assets and companies in strong growth sectors such as commercial aerospace and AI [40]