·综合整治"内卷式"竞争 2025年市场监管领域制度建设成果丰硕 ·水利部：力争2026年全国农村自来水普及率达到97% ·国家统计局：2025年12月份CPI同比涨幅继续扩大 PPI同比降幅收窄 【重点关注】 ·国务院反垄断反不正当竞争委员会办公室对外卖平台服务行业市场竞争状况开展调查、评估 【国际要闻】 ·美国国会众议院8日投票通过一项法案，将已经到期的《平价医疗法案》加强型补贴延长三年。 【国内要闻】 ·国务院反垄断反不正当竞争委员会办公室依据《中华人民共和国反垄断法》规定，决定对外卖平台服 务行业市场竞争状况开展调查、评估。 ·从国家发展改革委获悉，《中央预算内投资补助和贴息项目管理办法》已经公布，自2026年3月1日起 施行。办法提出，以投资补助和贴息方式安排中央预算内投资的项目管理，适用本办法。投资补助和贴 息资金应当投向市场不能有效配置资源的社会公益服务、公共基础设施、农业农村、生态环境保护、重 大科技进步、社会管理、国家安全等需要政府支持的公共领域项目。 ·市场监管总局9日举行新闻发布会，介绍2025年市场监管领域综合整治"内卷式"竞争制度建设成果，涉 及反不正当竞争、平台治理、标准引领等方面 ...

Market Overview - The three major indices opened higher, with the education sector leading the gains. As of the market opening, the Shanghai Composite Index was at 3968.73, up 0.09%; the Shenzhen Component Index was at 13627.26, up 0.17%; and the ChiNext Index was at 3247.74, up 0.15% [1]. Policy Announcements - The National Development and Reform Commission and the Ministry of Finance have allocated 625 billion yuan in special long-term bonds to support the consumption of old goods in the first batch for 2026 [1]. - The Ministry of Finance and the State Taxation Administration announced a new policy on the value-added tax for individuals selling homes, with a 3% tax rate for properties held for less than two years and exemption for those held for two years or more [1]. - The Ministry of Industry and Information Technology, along with three other departments, issued a plan for the digital transformation of the automotive industry, promoting the large-scale application of intelligent robots in various manufacturing processes [1]. - The Ministry of Commerce and eight other departments released the implementation details for the 2026 vehicle trade-in subsidy, offering up to 20,000 yuan for scrapping eligible old vehicles and purchasing new energy vehicles [1][2]. Industry Developments - The National Development and Reform Commission and the Ministry of Finance announced a large-scale equipment update and trade-in policy for consumer goods, providing a 15% subsidy for energy-efficient home appliances and a maximum of 1,500 yuan per item [2]. - The Ministry of Education plans to advance artificial intelligence in education, with policies expected to be released next year to enhance AI education and applications [2]. Corporate Announcements - Aoyuan Ceiling announced a change in its actual controller to Shi Qiming, and its stock has resumed trading. Dongjie Intelligent has terminated its major asset restructuring plan, and its stock has also resumed trading [4]. - Salt Lake Co. plans to acquire a 51% stake in Minmetals Salt Lake for 4.605 billion yuan to accelerate the development of a world-class salt lake industry base. Shengxin Lithium Energy intends to acquire a 30% stake in Qicheng Mining for 2.08 billion yuan [4]. - China National Airlines plans to purchase 60 Airbus A320NEO aircraft, with a total catalog price of approximately 9.53 billion USD [6]. - Guotou Zhonglu intends to issue shares at a premium of 147.4% to acquire 100% of China Electronics Engineering Design Institute for 6.026 billion yuan [6]. Market Sentiment - Citic Securities reported an increase in expectations for the appreciation of the RMB, which is favorable for the performance of RMB-denominated equity assets. The central bank is expected to adopt more flexible policy tools, focusing on domestic demand [10].

Core Viewpoint - The article emphasizes the integration of the securities industry with the real economy, highlighting the role of Wukuang Securities in reshaping investment banking through "technology finance + green finance" as dual engines for development [2][3]. Group 1: Industry Integration and Strategy - Wukuang Securities leverages the unique advantages of the China Minmetals industry chain to create a comprehensive service matrix that aligns with national strategic needs [2]. - The company focuses on strategic metal materials and hard technology sectors, moving from downstream operations to upstream mining and smelting, thereby establishing a complete industry chain [3]. Group 2: Financial Performance and Rankings - In 2024, Wukuang Securities ranked sixth in the industry for major asset restructuring transactions involving technology companies and first in underwriting small and micro-enterprise bonds in the first half of 2025 [4]. Group 3: Mergers and Acquisitions - Wukuang Securities played a significant role as a financial advisor in the acquisition of Salt Lake Co. by China Minmetals, marking a successful case of regional industrial upgrading [6]. - The company has established a market brand for mining mergers and acquisitions, with three cross-border mining projects completed in the first half of 2025 [6]. Group 4: Green Finance Initiatives - The company addresses challenges in green finance, such as inconsistent standards and insufficient disclosures, by developing a comprehensive green finance service system [8]. - Wukuang Securities aims to channel more financial resources into green sectors, promoting high-quality development of low-carbon industries [8][9]. Group 5: Research and Development Focus - The research department of Wukuang Securities has shifted to support real enterprises, providing decision-making support for industries like metal mining, new materials, and renewable energy [6]. - The company emphasizes the importance of collaboration with government and industry stakeholders to enhance its research capabilities and service offerings [6].