海外市场点评 假期海外市场的宏观悬念 glmszqdatemark 宏观数据的接连向好，可能会小幅弱化市场的降息预期，进而引发美元、美债收 益率短期反弹，对权益市场形成一定的不利扰动；但整体影响幅度预计有限：一 方面，市场已充分定价上半年美联储暂缓降息的预期，宏观数据也只是为利率"按 兵不动"提供进一步佐证；另一方面，数据层面的光鲜难以掩盖美国经济的脆弱 底色——就业市场年度下修近 90 万人，经济"K 型分化"态势日益严峻，复苏 基础并不牢固。 政策表态上，新任美联储主席候选人沃什的言论虽备受市场关注，但其政策立场 相关研究 本公司具备证券投资咨询业务资格，请务必阅读最后一页免责声明 证券研究报告 1 2026 年 02 月 12 日 [Table_Author] 分析师：陶川 分析师：林彦 研究助理：武朔 执业证书：S0590525110006 执业证书：S0590525110007 执业证书：S0590125110064 邮箱：taochuan@glms.com.cn 邮箱：linyan@glms.com.cn 邮箱：wushuo@glms.com.cn 随着春节假期的临近，海外市场又会孕育什么新的叙事 ...

Core Insights - The company, Puyuan Information, confirmed on November 26 that its products have achieved integration certification with Alibaba Cloud's private cloud products [1] - Currently, the company's products are connected to open-source models such as Qwen2.5, Qwen3.0, and QwQ-32B [1]

Core Viewpoint - The company has integrated its products with Alibaba Cloud's private cloud products through product ecosystem integration certification [1] Group 1 - The company's products are now connected to open-source models Qwen2.5, Qwen3.0, and QwQ-32B [1]

Group 1 - The core viewpoint of the article highlights the collaboration between Puyuan Information and Alibaba's ecosystem, specifically regarding product integration and certification [2]. - Puyuan Information confirmed that its products have achieved integration certification with Alibaba Cloud's proprietary cloud products [2]. - As of now, Puyuan Information's products have been integrated with open-source models such as Qwen2.5, Qwen3.0, and QwQ-32B [2].

Core Viewpoint - The company has integrated its products with Alibaba Cloud's private cloud products through product ecosystem integration certification [1] Group 1 - The company's products are now connected to open-source models Qwen2.5, Qwen3.0, and QwQ-32B [1]