北京商报讯（记者 张君花）2月4日，万里马在投资者互动平台表示，随着应急救援产品、防弹防护装 备产品市场的打开和直播电商业务稳步提升，公司有信心在持续推进应急防护装备产品+直播电商双轮 驱动战略下，能够改善公司经营业绩，实现扭亏为盈。公司决策管理层也将实现扭亏为盈作为今年首要 的经营目标。2026年公司将积极推进产能结构优化，严格加强成本管控，系统化盘活存量资产，全力推 进经营改善举措落地。 ...

Core Insights - The report indicates that the bond market will enter a "game" era in 2025, driven by increased fiscal policy and a focus on "debt reduction + development," with the deficit rate expected to rise to 4% [5][12] - The "15th Five-Year Plan" aims for a nominal GDP growth rate of around 5.5% to achieve a per capita GDP of $20,000 to $30,000 by 2035, necessitating a compound annual growth rate (CAGR) of 3.6%-7.5% from 2026 to 2035 [31][32] - The report emphasizes the need for a shift in investment strategies towards a focus on "coupon and leverage" rather than solely capital gains, as the market lacks clear trends [5][21] Group 1: Supply and Monetary Policy - The fiscal policy will continue to expand, with a focus on "debt reduction + development," leading to a significant increase in special bond issuance [7][12] - The monetary policy will maintain a cautious approach, with expectations of 1-2 rate cuts in 2026 to support fiscal efforts and alleviate bank liabilities [5][13] - The bond market is expected to face challenges due to a high supply of government bonds in the second and third quarters of 2026, which may test market sentiment [5][12] Group 2: Economic Growth and Internal Demand - The report highlights a shift in global monetary policy towards differentiation, with domestic growth needing to focus more on internal demand expansion [32][40] - The "15th Five-Year Plan" emphasizes the importance of innovation-driven growth and the establishment of a unified national market to enhance economic efficiency [31][32] - The expected economic growth will require a stable inflation rate and a focus on enhancing internal growth dynamics to recover from the impacts of previous economic models [31][32] Group 3: Investment Strategy and Market Dynamics - The report suggests prioritizing duration control in investment strategies for 2026, focusing on capturing short-term opportunities and structural adjustments in bond types [5][21] - The changing landscape of asset pricing and institutional demand may lead to differentiated investment behaviors among banks, insurance companies, and funds [5][12] - The report warns against a mechanical extension of duration for capital gains, advocating for a more active management approach to enhance returns [5][21]

天眼查App显示，近日，东莞市兴烨服饰有限公司成立，法定代表人为罗良材，注册资本5万人民币， 经营范围为一般项目：服饰制造；服装制造；鞋制造；鞋帽批发；鞋帽零售；皮革制品制造；皮革制品 销售；箱包制造；箱包销售；面料纺织加工；工艺美术品及礼仪用品制造（象牙及其制品除外）；工艺 美术品及礼仪用品销售（象牙及其制品除外）；包装材料及制品销售；日用品销售；电子产品销售；缝 制机械销售；摄影扩印服务；网络技术服务；技术进出口；货物进出口。（除依法须经批准的项目外， 凭营业执照依法自主开展经营活动）。 ...