（文章来源：证券日报） 证券日报网讯 1月5日，新广益在互动平台回答投资者提问时表示，公司研发的高精度声学膜实现了中 国技术在声学膜领域的自主突破，声学膜技术国际领先，目前是全球知名品牌耳机产品主要材料供应商 之一。声学膜是耳机中起发声功能的核心材料，它是一种能够随电流驱动产生不同幅度形变，通过高频 震动带动周围空气传递出声音的薄膜，其声学性能决定了发声单元的各种声学参数（振动质量、瞬态、 失真和频响），因此声学膜是耳机中最重要的基础性材料之一，属于电子产品组件材料。公司声学膜在 核心技术指标超越国外同类产品，实现了中国技术在声学膜领域的自主突破，目前已经通过对歌尔声学 的销售，实现了对苹果高端耳机产品声学膜材料的配套。 ...

【韧性篇】 时钟的秒针在今年转过最后一个24点后，我们将迎来新年，以及"十五五"的最初时刻。 回望2025年的广州，城市活力更加凸显，经济增速持续回升，以AI为代表的创新实力节节攀升；民生 福祉更有保障，城乡居民可支配收入双双增长、差距收窄。广州推动高质量发展，以一城之力服务国家 大局。南沙崛起港澳青年新家园，让广州更深度地融入大湾区；广湛高铁建成通车，让广州更快速地联 通粤西和海南自贸港；白云机场T3航站楼启用，让广州更高效地通达世界；十五运会启幕开赛，让广 州再度成为全国焦点。 广州的城镇化进展更早更快，自然也在建设现代化城市的进程中，先面临存量发展的新阶段，需要更多 勇气和智慧去探索发展的答案。 今年7月份召开的中央城市工作会议明确提出，建设"创新、宜居、美丽、韧性、文明、智慧"的现代化 人民城市。"人民城市人民建，人民城市为人民。"回归到城市建设的主体力量和初心使命，在2025年， 广州有何为？那些贯穿全年，取自于街巷中、工厂里、田野间的新闻故事，汇聚成了"广州答案"。 新质生产力智库报告运用新技术摆数据、讲实例，寻找到了广州保持创新活力的密码；深度调研、政经 观察以深一层的采访、多一度的思考，解读区 ...

房价下跌背后的经济信号：别只看表面 在楼市遇冷的同时，工业数据却表现亮眼。11月汽车制造业同比增长11.9%，电子产品制造业也有9.2% 的增幅。这种"冰火两重天"的现象，或许反映出经济正在经历深刻的结构性调整——资金正从房地产这 类传统支柱产业，向高端制造、新能源等新兴领域流动。 房价下跌是行业回归理性的表现。过去靠炒房就能躺赚的时代已经过去，现在买房更要回归"居住本 质"，抛开投机心态，才能做出正确选择。 专家分析认为，当前的房价回调是市场挤泡沫的正常过程。对于真正的刚需购房者来说，现在反而是个 不错的入市时机。但投资客需要格外谨慎，高杠杆操作的风险正在加大。 国家统计局最新数据出炉——11月全国房价延续下跌趋势，70个大中城市几乎全线飘绿。这份数据报告 背后，究竟藏着哪些机会？现在该不该出手买房？今天我们就来深度解读一下。 "一线城市领跌，二三线惨淡"。这样的跌幅堪比双十一打折力度，让不少观望中的购房者既心动又犹 豫。 不同人群对号入座：你到底该不该买房？ 很多人看房价跌就慌，要么急着抄底，要么彻底不敢买。其实核心还是看你的"需求属性"，我们分三类 人群说清楚： 1. 刚需族：现在是"捡漏"好时机，但别 ...

- 亚太地区：该地区股市隔夜普遍收低。上周末，美国和中国的高级贸易官员举行了会晤，美国贸易代 表格里尔指出，北京正在遵守近期达成的协议条款。中国11月份出口反弹，扭转了10月份意外下滑的局 面。与此同时，日本第三季度最终GDP萎缩2.3%，逊于预期的2.0%降幅和此前公布的1.8%降幅。 - 目前预计标普500指数成分股公司本季度（第四季度）的每股收益（EPS）将增长7.4%，销售额也将增 长7.4%。如果实现，则全年指数收益将增长约11%。过去几周，对2026年的预期也持续上调，目前预计 全年每股收益将增长14%。 特别声明：以上内容仅代表作者本人的观点或立场，不代表新浪财经头条的观点或立场。如因作品内 容、版权或其他问题需要与新浪财经头条联系的，请于上述内容发布后的30天内进行。 来源：宏观对冲陈凯丰Kevin - 欧洲：午盘时分，股市普遍下跌，此前上周小幅上涨。德国10月份工业生产环比增长1.8%，高于预 期，也高于9月份的1.1%。建筑业、机械制造业和电子产品制造业的强劲增长是主要推动力，而汽车行 业的产出则有所下降。此外，最新的Sentix欧元区投资者信心报告显示，预期和现状两项指标均有所改 善，表 ...

Group 1 - The core viewpoint of the news is that Shenzhen Technology Co., Ltd. (深科技) has experienced a significant decline in stock price, dropping 5.01% on November 5, with a total market value of 40.266 billion yuan and a cumulative decline of 9.53% over four consecutive days [1] - The company, established on July 4, 1985, and listed on February 2, 1994, specializes in advanced manufacturing of hard disk heads, electronic products, measurement systems, payment terminal products, digital home products, and LED production [1] - The revenue composition of the company includes high-end manufacturing at 50.52%, storage semiconductor business at 27.13%, intelligent measurement terminals at 21.70%, and other supplementary sources at 0.66% [1] Group 2 - From the perspective of fund holdings, only one fund from Chuangjin Hexin has a significant position in Shenzhen Technology, with the Chuangjin Hexin CSI 500 Enhanced A Fund holding 261,700 shares, accounting for 1.53% of the fund's net value [2] - The fund has incurred a floating loss of approximately 353,300 yuan today, with a total floating loss of 743,200 yuan during the four-day decline [2] - The Chuangjin Hexin CSI 500 Enhanced A Fund was established on December 31, 2015, with a current scale of 202 million yuan and has achieved a year-to-date return of 29.92% [2]

Group 1 - The core point of the news is that Shenzhen Technology Co., Ltd. experienced a decline of 5.02% in its stock price, closing at 25.93 yuan per share, with a trading volume of 1.368 billion yuan and a turnover rate of 3.31%, resulting in a total market capitalization of 40.754 billion yuan [1] - The company, established on July 4, 1985, and listed on February 2, 1994, is primarily engaged in the research and production of hard disk heads, advanced manufacturing of electronic products, metering systems, payment terminal products, digital home products, and LEDs [1] - The revenue composition of the company is as follows: high-end manufacturing accounts for 50.52%, storage semiconductor business 27.13%, metering intelligent terminals 21.70%, and others 0.66% [1] Group 2 - From the perspective of fund holdings, one fund under Su Xin has a significant position in Shenzhen Technology, with the Su Xin CSI 500 Index Enhanced A (022790) holding 63,300 shares, representing 0.7% of the fund's net value, making it the seventh-largest holding [2] - The Su Xin CSI 500 Index Enhanced A (022790) was established on December 30, 2024, with a latest scale of 150 million yuan, and has achieved a return of 34.71% this year, ranking 1403 out of 4216 in its category [2] - The fund manager, Lin Maozheng, has been in position for 309 days, with the fund's total asset size at 535 million yuan, achieving a best return of 37.36% and a worst return of 5.24% during his tenure [3]

Core Viewpoint - The statement by Professor Jin Canrong highlights that China has not achieved economic strategic autonomy despite being the world's second-largest economy, excelling in manufacturing and infrastructure [1][21]. Group 1: Economic Strengths - China is recognized as the "world's factory," with strong production capabilities and high-quality products, maintaining order fulfillment even during tense US-China relations [5]. - The country has a significant export volume, with nearly 2 trillion yuan in export tax rebates, effectively subsidizing foreign consumers [7]. Group 2: Strategic Vulnerabilities - China's economic model is heavily reliant on external markets and key technologies, leading to strategic passivity [10]. - The country faces a critical technology gap, particularly in high-value sectors like semiconductors, importing over $300 billion worth of chips annually, which poses a risk of industry shutdowns if supply is disrupted [11][13]. - The lack of foundational research investment and a culture of innovation hampers the transition from "0 to 1" breakthroughs, making it difficult to achieve technological independence [15]. Group 3: Domestic Consumption Challenges - Despite having the largest single market with 1.4 billion people, domestic consumption remains underpowered due to financial pressures from housing, education, and healthcare [17]. - The income distribution structure is problematic, with a high Gini coefficient indicating that the majority of the population has limited disposable income, which constrains consumption [19]. - To stimulate domestic demand and consumption upgrades, deep reforms are necessary, including stabilizing the real estate market and expanding the middle-income group [19]. Group 4: Strategic Initiatives - The government has proposed the "dual circulation" strategy to strengthen domestic circulation and address technological shortcomings, aiming for greater autonomy in global competition [22]. - Achieving true strategic autonomy will require time, endurance, and the participation of the entire society, from enterprises to consumers [22].

Core Viewpoint - The company, Wuhu Yabo Xuan Electronic Technology Co., Ltd. (referred to as "Yabo Xuan"), has reported impressive financial results for the first three quarters of the year, indicating strong growth potential driven by robust market demand and increased R&D investment [1][3]. Financial Performance - For the first three quarters, Yabo Xuan achieved revenue of 419 million yuan, a year-on-year increase of 55.9%, and a net profit attributable to shareholders of 48.72 million yuan, up 36.59% year-on-year [1]. - In Q3 alone, the company reported revenue of 169 million yuan, representing an 86.75% year-on-year growth and a 10.38% quarter-on-quarter increase; net profit attributable to shareholders was 19.45 million yuan, up 72.42% year-on-year and 13.05% quarter-on-quarter [1]. Market Demand and Business Focus - Yabo Xuan specializes in electronic product R&D, production, and sales, primarily providing PCBA (Printed Circuit Board Assembly) services, with significant applications in consumer electronics, industrial control, and automotive electronics [3]. - The automotive electronics sector is a key growth area for Yabo Xuan, with revenue from this segment reaching 91.58 million yuan in the first half of the year, a remarkable year-on-year increase of 194.96% [3]. Industry Trends - The consumer electronics industry is recovering, driven by rapid advancements in AI technology, which is expected to boost demand for high-value PCB products [4]. - The emergence of AI glasses as a new force in the smart wearable device sector presents a market opportunity that Yabo Xuan is actively pursuing [4]. R&D and Capacity Expansion - Yabo Xuan has increased its R&D investment, with expenses reaching 11.92 million yuan in the first three quarters, a 35.98% year-on-year increase [5]. - The company is accelerating capacity expansion to meet market demand, with construction projects valued at 103 million yuan, a 107.5% increase from the beginning of the year [5]. Future Outlook - The company is expected to see continued growth in net profit, with projections of 64 million yuan, 80 million yuan, and 94 million yuan for the years 2025 to 2027, respectively [6].

Group 1 - India's exports to the US have significantly declined, with a 37.5% drop over the past four months following the implementation of a 50% tariff on August 27 [1][2] - The decline in exports to the US has been particularly severe in the textile and pharmaceutical industries, which accounted for $38 billion and $30.5 billion in exports respectively in the last fiscal year [2] - The textile industry anticipates a further decline of over 25% in exports over the next six months, prompting the Indian government to extend the tariff exemption on imported cotton [2] Group 2 - The pharmaceutical sector, heavily reliant on the US market, faces significant challenges due to high tariffs, with exports to the US amounting to approximately $10 billion in the last fiscal year [2] - In contrast, engineering products, which make up over 20% of India's exports to the US, have experienced minimal impact due to long order cycles and strong demand [3] - Indian companies are actively seeking alternative markets, with exports to non-US markets increasing by 10.9% in September, providing a buffer against the decline in US exports [4] Group 3 - The jewelry sector, which exports nearly $10 billion to the US annually, has already begun diversifying its markets, with exports to the UAE increasing by 65% from April to September [4] - The electronics sector has also seen significant growth, with exports reaching $22.2 billion from April to September, a 60% increase year-on-year [4][5] - The Indian government is implementing policy adjustments to support affected industries, including increasing export quotas for rice and sugar to compensate for the decline in seafood exports to the US [6]

Overview - The EAC certification (Eurasian Conformity Mark) is essential for entering the markets of Russia and other member countries of the Customs Union, indicating compliance with technical regulations related to safety, health, and environmental protection [1][3]. EAC Certification Requirements - EAC certification ensures that electronic products meet quality, safety, and electromagnetic compatibility (EMC) standards, acting as a "passport" for market entry [3]. - Electronic products must comply with various safety, health, and environmental protection regulations, providing consumer confidence and ensuring fair market competition [3][4]. Safety Requirements - Electrical safety: Products must not pose risks of fire or electric shock under rated voltage and current [4]. - Mechanical safety: The design must ensure stability and safety during use [4]. - Material safety: Materials used must not harm human health or the environment [4]. Electromagnetic Compatibility (EMC) - Products must undergo EMC testing to ensure they do not generate excessive electromagnetic interference and can withstand interference [5][7]. Environmental Protection Requirements - Compliance with environmental standards during production, use, and disposal is mandatory, including energy efficiency and waste recycling [7]. - Adherence to RoHS standards is required, prohibiting certain hazardous substances in electronic products [7]. EAC Certification Application Process - The application process involves several steps, including confirming applicable technical regulations and selecting the appropriate certification procedure based on product category and risk level [6][8]. - Products must pass tests conducted by accredited laboratories, covering electrical safety, EMC, material safety, and energy efficiency for household appliances [8][9]. Documentation and Certification - Manufacturers must prepare technical documents, including design files, production processes, and test reports, to submit to certification bodies [9][11]. - Upon successful review, an EAC certificate is issued, allowing the product to bear the EAC mark, indicating compliance with safety and technical requirements [9][10]. Validity and Maintenance of EAC Certification - EAC certification is typically valid for five years, during which manufacturers must ensure ongoing compliance with certification requirements [10]. - Regular checks and updates are necessary, especially if there are changes in product design or functionality [10]. Common Misconceptions - EAC certification focuses on compliance and safety rather than overall product quality [12]. - The certification process is not fixed and varies based on product type and certification body requirements [12]. - Although EAC certification is generally valid for five years, significant changes to the product or regulations may necessitate re-certification [12].