《科创板日报》1月27日讯（记者 吴旭光） 又一家上市公司计划收购IPO撤单企业。 1月26日晚间，埃夫特发布公告称，其正在筹划以发行股份及支付现金的方式，收购上海盛普流体设备股份有限公司（下称：“盛普股份”）的股权。 公告显示，埃夫特已与交易意向方签署《股份收购意向协议》，拟通过发行股份及支付现金的方式取得交易标的控制权。埃夫特股票自2026年1月27日开市起停牌，预计停牌时间不超过10个交易日。 标的公司为IPO撤单企业 公开信息显示，盛普股份专注于精密流体控制设备及其核心零部件的研发、生产和销售，致力于为客户提供安全、智能、高效的流体控制解决方案。 《科创板日报》记者发现，盛普股份之前有过申请上市经历，最终以失败告终。 2022年6月，深交所受理了盛普股份首次公开发行股票并在创业板上市的申请文件；2023年1月20日，该公司IPO顺利过会。然而，在其过会一年8个月后，2024年9月，盛普股份撤回了IPO申请。 从审核与问询情况来看，深交所分别于2022年7月25日、2022年10月24日下发第一轮、第二轮审核问询函，盛普股份分别于2022年10月11日、2022年11月30日提交了相关回复。 工商信息显示，盛普股份成立于2007年，实际控制人为付建义、刘燕二人，他们通过上海至骞实业发展有限公司，以间接持股方式持有公司60.56%的股权。 标的公司主营业务为精密流体控制设备及其核心零部件的研发、生产和销售，产品主要应用于新能源（包括光伏、动力电池等）、汽车电子等领域的生产制造，可实现流体的精密输送以及动力电池电芯、模组、电池包的涂胶设备等。 需要注意的是，盛普股份报告期内经营规模较小，其最后一个完整会计年度的净利润，可能难以满足创业板新规中“不低于6000万元”的要求。 财务数据显示，2019年至2021年及2022年上半年，盛普股份营业收入分别为1.26亿元、1.77亿元、2.64亿元和1.24亿元；扣非归母净利润分别为2174.57万元、3480.82万元、5201.25万元和2156.36万元。 此外，盛普股份的综合毛利率呈现持续下滑态势，报告期内分别为43.06%、42.11%、40.86%和38.78%。 埃夫特业绩承压 埃夫特是一家专注于智能机器人产业的高科技公司，于2020年在科创板上市。公司以通用机器人研发制造为基础，在喷涂、焊接等应用领域提供解...

Chinese AI and tech firms continue to impress with their development of cutting-edge, state-of-the-art AI language models. Today, the one drawing eyeballs is Alibaba Cloud's Qwen Team of AI researchers and its unveiling of a new proprietary language reasoning model, Qwen3-Max-Thinking. You may recall, as VentureBeat covered last year, that Qwen has made a name for itself in the fast-moving global AI marketplace by shipping a variety of powerful, open source models in various modalities, from text to image to spoken audio. The company even earned an endorsement from U.S. tech lodgings giant Airbnb, whose CEO and co-founder Brian Chesky said the company was relying on Qwen's free, open source models as a more affordable alternative to U.S. offerings like those of OpenAI. Now, with the proprietary Qwen3-Max-Thinking, the Qwen Team is aiming to match and, in some cases, outpace the reasoning capabilities of GPT-5.2 and Gemini 3 Pro through architectural efficiency and agentic autonomy. The release comes at a critical juncture. Western labs have largely defined the "reasoning" category (often dubbed "System 2" logic), but Qwen’s latest benchmarks suggest the gap has closed. In addition, the company's relatively affordable API pricing strategy aggressively targets enterprise adoption. However, as it is a Chinese model, some U.S. firms with strict national security requirements and considerations may be wary of adopting it. The Architecture: "Test-Time Scaling" Redefined The core innovation driving Qwen3-Max-Thinking is a departure from standard inference methods. While most models generate tokens linearly, Qwen3 utilizes a "heavy mode" driven by a technique known as "Test-time scaling." In simple terms, this technique allows the model to trade compute for intelligence. But unlike naive "best-of-N" sampling—where a model might generate 100 answers and pick the best one — Qwen3-Max-Thinking employs an experience-cumulative, multi-round strategy. This approach mimics human p...

翰森製藥建議發行46.8億元2033年到期零息可換股債券。 初始換股價每股57.39元、較上日收市價溢價四成二，可換成逾8,154萬股，佔已擴大發行股本百分之1.3。 集資所得的六成半用於藥物研發及引進授權。兩成半用於新建研發中心及生產線，並升級現有研發和生產設施。餘額用於營運資金。

格隆汇1月27日｜现货黄金向上触及5050美元/盎司，日内涨0.83%。

本周一，美元再度承压，跌至四个月以来新低，市场对美日联手干预、提振日元的预期升温，成为美元走弱的关键原因之一。 ICE美元指数（DXY）周一 下跌 0.6%，至约97，盘中一度触及96.85，为去年9月以来的最低点。同时，该指数上周五收于5月下旬以来最差的单周表现。投资者注意到，上周五纽约联邦储备 银行 已联系部分交易对手，询问美元兑日元的市场报价，这被视为美国可能参与干预日元的信号。 日元兑美元也在周一走强，汇率回升至153-154日元兑1美元附近。相比之下，仅在两周前，日元汇率仍在159左右，接近过去30年来的最弱水平。由于日本与美国之间长期存在利率差异，日元利率较低，使其长期处于“融资货币”的角色，投资者借入低息日元资金，投资于高收益的美国资产，形成“套息交易”。 然而，日元近期的转强，主要受到干预预期影响。据分析公司Klarity FX Amarjit Sahota表示，市场对美元已持续看空一段时间，而关于日元干预的讨论正在迅速升温。他指出，一旦日元走强，投资者将不得不撤出用廉价日元融资的美股投资，“ 某 种程度上说，这是时候发生的事。” 在日本国内方面，市场此前因首相高市早苗传出计划加大财政支出以刺激经济的消息，推低了日元汇率。受此影响，日本40年期国债收益率一度突破4%，创下纪录新高。不过，随着干预传闻增多，日元近期已略有回升。 市场研究机构Jefferies认为，日元的上涨还有进一步空间。RSM US首席经济学家Joseph Brusuelas表示，他认为美日联合干预汇率“已迫在眉睫”。而嘉信理财首席固定收益策略师Kathy Jones则认为，干预可能只能短暂减缓贬值趋势，若要彻底扭转日元走弱的局面，还需经济基本面出现变化。 此外，因预测2008年次贷危机而成名的投资人迈克尔·伯里也表示，日元“长期以来都应出现趋势性反转”，其背后将带来一系列影响。 在美元持续走软的背景下，ICE美元指数已接近去年7月和9月因贸易关税不确定性和经济放缓预期而下探的低点。Sahota指出，如果跌破96关口，将意味着自去年夏季以来暂缓的美元弱势行情可能重新启动。“现在说美元会大幅 下跌 还为时尚早，”他补充道，“但目前确实感受到市场的下行压力。” 周一打压美元的因素还有可能的美国政府关门风险、美联储独立性受到质疑、特朗普拟更换美联储主席鲍威尔的传言，以及最高法院即将就特朗普...

《科创板日报》1月27日讯（记者 陈俊清） 随着全球低轨卫星组网进入密集建设期，卫星通信产业链成为近期市场焦点。 Wind数据显示，近2个月卫星通信板块指数上涨约40%，其中多家卫星通讯相关的芯片企业涨幅显著。从市场情况来看，在低轨卫星通信芯片领域，多家企业已实现关键技术突破并进入批量出货阶段。 市场人士认为，随着卫星互联网规模化发射临近，芯片作为终端核心组件，或将率先享受需求爆发红利。 ▍卫星芯片实现批量出货 当前，在低轨卫星芯片领域，多家企业实现技术突破与规模化出货。 从芯片代工厂商来看 ，近日，立昂微在投资者互动平台披露，公司旗下子公司立昂东芯已掌握业内领先的单芯片集成工艺技术，目前基于该技术开发的、应用于低轨卫星通信的芯片已实现大批量出货。 具体来看，立昂微表示，立昂东芯拥有行业内首个将栅长0.15μm的功率管、低嗓声晶体管、PN二极管、E/D逻辑及射频开关集成于单芯片的商业化以及可量产工艺技术，该技术融合了独立优化的栅长为0.15um的Emode低噪声pHEMT与0.15um Dmode功率pHEMT，实现同芯片内业界性能领先的功率放大器和低噪声放大器。 据介绍，上述技术以及其它多种0.15、0.25um的GaAs pHEMT工艺技术和GaN HEMT工艺技术，既可应用于卫星的通信领域，也可应用于地面通信终端通信。 目前应用于低轨卫星通信芯片已实现大批量出货， 实现包括功率放大器（PA），低噪声放大器（LNA）以及射频开关（SW）等功能；应用于地面通信终端的芯片已通过客户验证。 《科创板日报》记者致电立昂微证券部获悉，其应用于低轨卫星通信的芯片主要基于pHEMT工艺开发，目前有产品线出货。该工艺于2023年完成开发，同年开始进入低轨卫星终端客户，并实现大规模出货。 从具体出货量来看，立昂微近期披露的2025年业绩预告显示，该公司2025年化合物半导体射频及光电芯片销量约4万片，同比增长约0.7%，其中pHEMT、BiHEMT芯片销量约0.23万片，同比增长约26.12%。占比较低，但增速较快。 此外，立昂东芯的氮化镓射频芯片工艺也将实现卫星领域应用作为目标。对此，立昂微证券部工作人员向《科创板日报》记者表示，目前， 该公司应用在低轨卫星通信领域的氮化镓射频芯片工艺已经开发完成，未来有订单可直接用于生产。 ▍卫星通讯芯片商业化加速 除单芯片代工技术突破外，低...

在对关税的担忧情绪中，金价在亚洲早盘交易中上涨。现货黄金上涨0.7%，报每盎司5，046.58美元。美国总统特朗普周一表示，美国对从韩国进口的汽车、药品和木材征收的关税将从15%上调至25%，因为该国立法机构尚未批准与美国的贸易协议。Tradu.com的高级市场分析师Nikos Tzabouras表示：“在持续的贸易和地缘政治紧张局势下，黄金继续吸引避险资金流入。“不过，这位高级市场分析师补充说，该贵金属“尤其是在投机性仓位增加的情况下，仍然容易受到获利了结和波动性的影响“。 责任编辑：王永生

在特朗普与欧洲因格陵兰问题在达沃斯发生公开交锋、跨 大西洋 关系再现裂痕之际，德国政界与部分知名经济学家再次将焦点投向一项长期争议：德国存放在美国的巨额 黄金 储备是否应尽快“回国”。支持者认为，地缘政治风险与美方政策不确定性上升，使得将大量黄金长期存放海外的战略风险加大；而德国政府与央行则强调，美国纽约联储仍是“可靠托管方”，目前并未考虑将黄金运回。 “在当前地缘政治环境下，将如此多黄金存放在美国存在风险。”德国知名经济学家、曾任德国央行（Bundesbank）研究部门负责人伊曼努埃尔·蒙希（Emanuel Mönch）日前对德国媒体表示，出于提升对美“战略独立性”的考虑，德国央行理应认真评估黄金回流方案。 德国官方黄金储备总量为3,350.25吨，规模仅次于美国的8,133.46吨。在德国储备中，约37%（约1,236吨）目前存放于纽约联邦储备 银行 金库。该安排源于冷战时期的安全与流动性考量，也与国际黄金交易与结算体系相关联。 随着争议升温，欧洲纳税人协会（TAE）及德国纳税人协会负责人米夏埃尔·耶格尔（Michael Jäger）也重申其立场，敦促柏林将存放在美国的黄金储备迁回国内。他在接受当地媒体 采访 时称，特朗普“不可预测”，并倾向于采取能“创造收入”的政策，这让德国黄金“已不再安全”。耶格尔进一步提出担忧：如果类似格陵兰的摩擦持续升级，德国央行未来获取其黄金的能力可能受限，因此应尽快将储备运回。 德国联邦议院反对党绿党（Greens）财政事务发言人卡塔琳娜·贝克（Katharina Beck）同样呼吁把黄金“带回德国”。她将黄金称作“稳定与信任的重要锚”，并强调这些储备“不应沦为地缘政治争端中的筹码”。 不过，德国执政阵营对“回流”诉求持保留态度。德国基民盟（CDU）方面近期表态称，政府目前并未考虑将国家黄金储备运回。与此同时，德国央行也试图安抚各界担忧。德国央行行长约阿希姆·纳格尔（Joachim Nagel）在去年10月于华盛顿举行的国际货币基金组织（IMF）年会期间表示，对于存放在纽约联储的德国黄金“没有理由担忧”。 过去一年，特朗普再度当选以及其更具对抗性、不可预测的国际政策主张，被认为推高了德国国内对海外储备安全与“可获得性”的焦虑。今年4月，德国新一届基民盟主导政府内部的部分资深人士就曾讨论过黄金回流的可能性，理由是担心美国“不再是可靠伙...

US President Donald Trump said on Monday that he would raise tariffs on imports from South Korea, accusing the country of “not living up to its deal” with the US. Tariffs had declined to 15 per cent but, assuming his threat is carried out, will jump back to 25 per cent. “Because the Korean Legislature hasn’t enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS,” he wrote on social media. The 79-year-old president previously imposed 10 per cent tariffs on South Korea after declaring an economic emergency and bypassing US Congressional approval. Advertisement Seoul, however, needed legislative approval for the framework deal announced in July, which was subsequently affirmed during Trump’s October visit to the country when he met with Chinese President Xi Jinping “Our Trade Deals are very important to America. In each of these Deals, we have acted swiftly to reduce our TARIFFS in line with the Transaction agreed to,” Trump said. “We, of course, expect our Trading Partners to do the same.” Trump says China and other countries trading with Iran to face additional 25% tariffs Trump says China and other countries trading with Iran to face additional 25% tariffs The agreement was finalised after Trump met his South Korean counterpart, Lee Jae Myung , last autumn, and included investment commitments from South Korea alongside tariff cuts by the United States.

《科创板日报》1月27日讯（记者 黄修眉） 成大生物昨日晚间发布公告称，预计公司2025年度实现归母净利润1.23亿元至1.39亿元，同比下降59.34%至63.98%。 由此计算，该公司2025年第四季度预计实现归母净利润-0.418亿元至-0.258亿元，相较于2025年第三季度4252万元的净利润，环比大幅下滑且由盈转亏。 这亦是该公司从2021年以来，首次单季度亏损。 至于业绩下滑原因，成大生物表示，主要系营业收入减少及资产减值损失计提增加等因素综合影响所致。 成大生物是一家专注于人用疫苗研发、生产和销售的生物科技企业，其人用狂犬病疫苗于2005年上市。据该公司2024年报显示，2008年以来，“成大速达”在我国人用狂犬病疫苗市场中销量稳居第一。人用狂犬病疫苗也一直是成大生物营收的主要来源。 近期终止多个人用疫苗子项目 在成大生物发布2025年度业绩预告同日（1月26日）晚间，成大生物公告称决定终止b型流感嗜血杆菌结合疫苗（hib疫苗）研发项目，并拟对该项目研发资本化金额8067万元全额计提资产减值准备。 截至本公告披露日，成大生物研发的hib疫苗项目累计投入1.61亿元，其中费用化金额8059万元，资本化金额8067万元，预计将导致公司2025年度利润总额减少8067万元。 实际上，成大生物早在去年12月18日就已公告拟终止“人用疫苗研发项目”项下子项目“b型流感嗜血杆菌结合疫苗”（下称：“hib疫苗”）的开发。该疫苗项目临床应用定位于预防2月龄至5周岁儿童因b型流感嗜血杆菌引发的脑膜炎、肺炎、败血症等侵袭性感染疾病，此前处于三期临床试验收官阶段。 回顾来看，hib疫苗项目于2018年6月获得国家药品监督管理局核发的《药物临床试验批件》，并于2019年12月启动Ⅰ期临床试验；项目于2022年12月至2025年12月期间开展Ⅲ期临床试验，期间已完成Ⅲ期临床试验全程免疫及基础免疫血清检测等阶段性工作。 其去年12月的终止公告显示，成大生物认为，近年来，国内hib疫苗市场格局与需求趋势显著变化，“联苗替代单苗”已成为行业明确发展方向，hib单苗的市场需求空间逐步缩减；当前国内hib疫苗市场竞争格局已趋于稳定，成熟产品占据主流，项目即便上市；叠加行业内对WHO推荐hib疫苗纳入免疫规划的预期，单苗未来的商业化回报空间，已难以匹配公司对hib疫苗项目的预期投入。 而...

msft MSFT Stock Rallies Into Earnings as Microsoft Maia 200 Chip Reframes the Debate Microsoft shares have rebounded into earnings as the company unveiled its Maia 200 AI chip, easing reliance on external suppliers even as... Written by: Skerdian Meta • • 5 min read • Quick overview Microsoft's shares have rebounded as the company introduced its Maia 200 AI chip, signaling a strategic shift to reduce reliance on external suppliers. Despite the positive momentum, investors remain cautious about costs and the pace at which AI investments will yield profits. Analysts have adjusted price targets for Microsoft, reflecting broader pressures in the software sector rather than concerns over weak earnings. The company's ambitious global expansion plans come with heightened scrutiny regarding the financial implications of its AI infrastructure investments. Live MSFT Chart 0.0000 MARKETS TREND [[MSFT-graph]] Microsoft shares have rebounded into earnings as the company unveiled its Maia 200 AI chip, easing reliance on external suppliers even as investors remain focused on costs, margins, and execution. A Rebound That Reflects Relief More Than Conviction Microsoft enters the heart of earnings season with momentum returning to its share price—but the rally carries a different tone than in prior quarters. After peaking above $555 in October, the stock endured a sharp reset, shedding more than $100 at its lows and briefly dipping below $440 last week. That pullback reflected growing unease around costs, valuation, and the pace at which AI investments would translate into profit. Over the past week, however, sentiment has improved meaningfully. Shares rebounded strongly on expectations of a solid fiscal second-quarter report, and upside extended further after Microsoft unveiled its latest in-house AI chip. The move has given investors a reason to re-engage—but not necessarily to suspend skepticism. Maia 200 Signals a Strategic Shift Microsoft’s announcement of the Maia 200 AI accele...

来源：环球市场播报 一位 半导体 行业资深CEO警告称， 存储芯片 价格上涨和供应短缺的情况很可能会持续到 2027 年。这进一步表明，由 人工智能 基础设施建设热潮所引发的供应短缺问题可能会比预期持续更长时间。 存储芯片是智能手机和笔记本电脑等 消费电子 设备的重要组成部分。它们也已成为人工智能 数据中心 以及这些设施中安装的 服务器 的关键组成部分。特别是，对高带宽存储芯片的需求十分巨大。 随着大量资金被持续投入到数据中心基础设施建设中，对存储芯片的需求急剧增加，导致半导体价格出现了前所未有的上涨，这种上涨趋势今年还将持续下去。 半导体设计工具公司Synopsys的首席执行官赛斯尼·加齐（Sassine Ghazi）最近接受 采访 时表示，芯片“短缺”的局面将持续到 2026 年和 2027 年。 加齐表示，主要厂商的大部分内存“直接流向了人工智能基础设施，但许多其他产品也需要内存，因此这些其他市场目前面临内存短缺，因为没有剩余产能。” 加齐表示，尽管这些公司正致力于扩大生产规模，但要真正实现生产上线则需要至少两年的时间，这也是短缺局面将持续下去的一个原因。 存储芯片一直呈现出供应短缺或供应过剩的周期性变化，这决定了内存组件的价格。然而，一些分析师将当前的趋势称为“超级周期”。 “现在是内存公司的 黄金 时期，”加齐说道。

富国银行 表示，在美国发布新关税威胁后，韩元可能会下跌，但如果美国财政部长斯科特·贝森特再次尝试稳定韩元，那么跌幅可能会得到控制。驻纽约的新兴市场经济学家和外汇策略师Brendan McKenna表示，韩元可能会走弱，但“全面反应可能稍晚出现，因市场在等待贝森特的反应”。贝森特已经“表达了确保外汇稳定的强烈意愿”。“如果韩元压力持续增大，那么贝森特干预将成为最后的保障”；“如果贝森特保持沉默，韩元可能会回吐过去几天/几周内的大部分涨幅”。 责任编辑：王永生

From Opex Discipline to CapEx Aggression The "Year of Efficiency" in 2023/2024 was characterized by headcount reductions and the flattening of organizational structures. This phase successfully restored investor confidence and drove the stock price recovery. However, 2025 marked the beginning of a new phase: the "AI Arms Race." Unlike the Metaverse pivot of 2021, which was viewed skeptically as a drift away from core competencies, the current pivot to AI is directly synergistic with Meta’s core business. The "Meta Superintelligence Labs" are not just building abstract AGI; they are powering the recommendation algorithms that keep users glued to Instagram and the ad-ranking engines that maximize ROI for advertisers. Nevertheless, the costs are staggering. The firm raised its full-year 2025 CapEx guidance multiple times, landing at $70–$72 billion, a 70% jump from the previous year. The "Founder Mode" Paradigm A critical qualitative factor influencing institutional sentiment is the governance structure of Meta. Analysts at Rothschild Redburn have upgraded the stock to "Buy" with a $900 price target, explicitly citing CEO Mark Zuckerberg’s "founder mode" as a long-term positive. This term describes a leadership style where the founder, insulated by dual-class share structures, ignores short-term Wall Street pressure to pursue generation-defining technological shifts. While "founder mode" allows for bold bets, it also introduces principal-agent risk. Investors are effectively passengers on Zuckerberg’s vessel. With reports that he is pursuing AI investments "regardless of financial cost," the Q4 earnings call will be scrutinized for any signs of fiscal guardrails. The concern is that without external checks, the pursuit of Llama 4 and beyond could lead to a period of "profitless prosperity," where revenue grows but free cash flow evaporates into GPU clusters. The Valuation Disconnect Despite the stock’s 12.74% rise in 2025, Meta underperformed the Nasdaq 100 (which gain...

中国常驻联合国代表傅聪26日在安理会国际法治公开辩论会上作补充发言，回击美国代表在发言中污蔑中国在南海所谓“扩张性非法声索”的错误言论。傅聪说，中方坚决反对美国代表关于南海问题的错误言论，不得不做出严正回应。中国在南海诸岛及其附近海域拥有无可争辩的主权，对相关海域拥有主权权利和管辖权。中国在南海的领土主权和海洋权益具有充分的历史和法理依据。（央视新闻）

澳大利亚股市于周二早盘走高， S&P/ASX 200 基准指数上涨 0.8%，报 8930.40 点。 在市值不低于 150 亿澳元（约合 103.7 亿美元）的澳大利亚本土企业中，必和必拓集团（BHP Group）为本交易日早盘领涨龙头，股价上涨 3.0%；South32涨幅达 2.8%；瑞尔集团（REA Group）以 2.6% 的涨幅跻身早盘涨幅榜前三。 皮尔巴拉矿业集团（PLS Group）是早盘跌幅最大的个股，股价下跌 1.7%；澳洲航空与Scentre Group紧随其后，均下跌 0.9%。 外汇市场方面，美元指数持平于 94.69；美元兑澳元汇率稳定在 1 美元兑换 1.45 澳元。 债券市场上，澳大利亚 10 年期国债收益率上涨 0.86 个基点，报 4.822%。 责任编辑：王永生

近来市场围绕龙虎榜制度出现诸多讨论。龙虎榜的制度基础是沪深交易所规则。比如深交所规定，对于有涨跌幅限制的股票、封基，主板涨跌幅偏离±7%、振幅15%、换手率20%以上，创业板涨跌幅±15%、振幅30%、换手率30%以上，各取前五只，交易所公布其买卖金额最大的五家营业部或交易单元名称及对应买卖金额。 追溯龙虎榜制度的建立初衷，其核心价值在于提升市场透明度，是对市场微观结构信息的一种补充性揭示。这些信息为中小投资者提供了直观的资金流向参考，打破资金交易的信息壁垒，帮助其更好地判断市场动向，同时公开信息有利于发挥市场监督作用，本身就是一种威慑。监管部门根据这些信息也可快速锁定异动交易背后的资金主体，为后续监控、核查提供明确线索，提升对违法违规交易的查处效率。 目前龙虎榜仅披露买卖金额最大的前五家营业部或交易单元，并未披露背后的实际资金主体、账户数量，部分主力通过分仓操作，少量资金在知名营业部席位买入，同时可通过其他隐蔽席位大量卖出，通过反向交易获取利益。 完善龙虎榜制度，可以更好地为中小投资者提供有价值的补充性投资信息参考，也能更好地发挥对涉嫌违法、违规炒作行为的辅助监管作用。笔者认为，具体优化路径可多管齐下： 首先，龙虎榜可分不同对象做差异化披露。对于普通投资者，交易所可考虑将龙虎榜披露的“营业部或交易单元”调整为“证券公司（399975）层面”，不再具体到单个营业部，从根源上切断游资通过知名营业部席位造势的渠道；同时尝试增加披露资金性质分类(如区分机构、普通投资者、陆股通等)以及汇总的账户数量等信息。对于监管部门，交易所披露的龙虎榜信息则可具体到单个投资者，允许监管部门对营业部交易数据拥有穿透式监控权限。 其次，建立并强化“披露即监管”的联动机制。龙虎榜的核心价值在于辅助监管，若仅披露信息而不跟进核查，其基础作用将大打折扣。要让每一张龙虎榜的背后，都伴随着监管的“电子眼”与“分析仪”，大幅提高违法违规的成本与风险。为此交易所与证券监管部门应建立高效的线索筛查与联动响应流程，对于龙虎榜中出现的连续多日异常上榜、拉抬打压、反向交易等情况，要及时开展穿透式核查，查清背后的实际资金主体、账户组以及交易目的，对确认存在市场操纵等违法违规行为的，依法从严处罚。同时，应加强与证券公司（399975）的协同监管，要求证券公司（399975）加强对营业部席位交易的合规管控，及时发现并上...

Oil steadied as traders weighed the impact on demand from a sweeping US winter storm, which has led to disruptions at major refiners such as Exxon Mobil Corp. across the Texas coast. West Texas Intermediate traded near $61 a barrel after closing 0.7% lower on Monday. Brent settled below $66. The freezing conditions affected a number of refineries on the US Gulf Coast, and curtailed some oil production. While the massive storm has passed, there are concerns that the deep snow and ice unleashed by the sweeping system could prolong its impact . Oil futures have rallied at the start of the year, despite expectations supply will outpace demand as OPEC+ and other producers pump more. US President Donald Trump has injected some risk premium into prices following his renewed threats against Iran, dispatching naval assets to the Middle East. To get Bloomberg’s Energy Daily newsletter in your inbox, click here . WTI for March delivery was 0.4% higher at $ 60.85 a barrel at 7:34 a.m. in Singapore. Brent for March settlement closed 0.4% lower at $ 65.59 a barrel on Monday.

財經事務及庫務局2026年1月26日，與上海黃金交易所簽訂合作協議，同意共同推動黃金市場合作發展。上海黃金交易所經中國國務院批准，由中國人民銀行組建，於2002年成立，是中國唯一的國家級、專營黃金現貨交易的金融市場。提供黃金、白銀、鉑金等貴金屬的集中交易、清算、交割與倉儲服務。交易所2014年啟動「國際板」，2016年推出以人民幣計價的 「上海金」基準價，是人民幣黃金定價的錨點。 中國市場方面，交易所2014年啟動「國際板」，2016年推出以人民幣計價的 「上海金」基準價，是人民幣黃金定價的錨點，主導國內定價。 全球市場方面，中國作為全球最大黃金消費國的主要入口，中國透過上海黃金交易所的進口量，顯著影響全球實物黃金供需平衡。「上海金」與「倫敦金」（美元計價）形成互補，為全球提供重要的人民幣計價黃金基準。 滬港兩地簽訂合作協議作用 協議旨在深化滬港黃金市場互聯互通，主要作用包括： 共建金融基建：上海黃金交易所將參與，香港黃金中央結算系統的規則設計與風險管理，提升香港市場效率與安全。 共享實物倉儲：探索利用上海黃金交易所，於內地的成熟倉儲體系，服務香港及國際投資者，強化香港的實物黃金樞紐功能。 推動市場互通：為未來兩地產品互掛、投資者雙向參與奠定基礎，構建更一體化的大中華區黃金市場。 提升戰略協同：結合香港的國際化平臺，與上海的實物定價中心優勢，共同提升中國在全球黃金市場的，定價權與規則影響力，服務人民幣國際化。 近日金價走勢 金價在今早首次升破5,000美元後，午後再升穿5,100美元，今年以來金價累升17%，已超越多家大行今年給予的目標價。 機構目標價與預測 摩根士丹利指出，金價已超越其原先下半年4750美元的目標價，認為今輪黃金牛市未完，主要受地緣政治風險、央行釋放的積極訊號及ETF買盤支撐，估計下半年升至5700美元。 美國銀行指出，基於對過去牛市周期推測，金價在43個月內平均上漲約300% ，黃金有望在今年春季觸及每盎司6,000美元。隨着市場條件趨緊和盈利敏感性增强，黃金不僅是一種有效的對沖工具，還能為組合帶來超額收益，成為抵禦不確定性的重要資產。 高盛指出，2026年底的金價預測從每盎司4,900美元上調至5,400美元，主因是預計各國央行今年每月將購買約60噸黃金，且為對沖政策風險而買入黃金的私營部門投資者，估計不會在今年拋售持倉，從而推高金價預測。

財經事務及庫務局2026年1月26日，與上海黃金交易所簽訂合作協議，同意共同推動黃金市場合作發展。上海黃金交易所經中國國務院批准，由中國人民銀行組建，於2002年成立，是中國唯一的國家級、專營黃金現貨交易的金融市場。提供黃金、白銀、鉑金等貴金屬的集中交易、清算、交割與倉儲服務。交易所2014年啟動「國際板」，2016年推出以人民幣計價的 「上海金」基準價，是人民幣黃金定價的錨點。 中國市場方面，交易所2014年啟動「國際板」，2016年推出以人民幣計價的 「上海金」基準價，是人民幣黃金定價的錨點，主導國內定價。 全球市場方面，中國作為全球最大黃金消費國的主要入口，中國透過上海黃金交易所的進口量，顯著影響全球實物黃金供需平衡。「上海金」與「倫敦金」（美元計價）形成互補，為全球提供重要的人民幣計價黃金基準。 滬港兩地簽訂合作協議作用 協議旨在深化滬港黃金市場互聯互通，主要作用包括： 共建金融基建：上海黃金交易所將參與，香港黃金中央結算系統的規則設計與風險管理，提升香港市場效率與安全。 共享實物倉儲：探索利用上海黃金交易所，於內地的成熟倉儲體系，服務香港及國際投資者，強化香港的實物黃金樞紐功能。 推動市場互通：為未來兩地產品互掛、投資者雙向參與奠定基礎，構建更一體化的大中華區黃金市場。 提升戰略協同：結合香港的國際化平臺，與上海的實物定價中心優勢，共同提升中國在全球黃金市場的，定價權與規則影響力，服務人民幣國際化。 近日金價走勢 金價在今早首次升破5,000美元後，午後再升穿5,100美元，今年以來金價累升17%，已超越多家大行今年給予的目標價。 機構目標價與預測 摩根士丹利指出，金價已超越其原先下半年4750美元的目標價，認為今輪黃金牛市未完，主要受地緣政治風險、央行釋放的積極訊號及ETF買盤支撐，估計下半年升至5700美元。 美國銀行指出，基於對過去牛市周期推測，金價在43個月內平均上漲約300% ，黃金有望在今年春季觸及每盎司6,000美元。隨着市場條件趨緊和盈利敏感性增强，黃金不僅是一種有效的對沖工具，還能為組合帶來超額收益，成為抵禦不確定性的重要資產。 高盛指出，2026年底的金價預測從每盎司4,900美元上調至5,400美元，主因是預計各國央行今年每月將購買約60噸黃金，且為對沖政策風險而買入黃金的私營部門投資者，估計不會在今年拋售持倉，從而推高金價預測。

Nvidia may have some catalysts ahead. Since the start of the artificial intelligence (AI) boom, investors have asked one question with each new year: Can Nvidia (NVDA 0.64%), the world's AI chip leader, deliver yet another year of outstanding stock market performance? The company has seen its stock soar over the past three consecutive years, in total advancing more than 1,100%. The reason for this is clear: Nvidia has established itself as a key player in a market marching toward trillions of dollars in value. Analysts expect the AI market to reach about $2 trillion by early next decade. Nvidia is well-positioned to benefit as it sells the AI chips that the biggest tech companies have been flocking to -- and Nvidia prioritizes innovation in order to maintain its dominance. Of course, it's impossible to guarantee with 100% certainty what Nvidia stock will do this year. Any unexpected event, either specific to the company or industry, or an economic or geopolitical happening, could alter the picture. But we can make predictions based on the company's growth track record and revenue potential to give ourselves an idea of where Nvidia may be by the end of the year. With this in mind, my prediction is that Nvidia's stock will reach the following level by the end of 2026. The early Nvidia story Before diving in, though, let's trace Nvidia's path so far. The company isn't new to the scene; Chief executive officer Jensen Huang founded Nvidia more than 30 years ago, and in the company's early days, its biggest business was serving the video games market. But it was clear that Nvidia's graphics processing units (GPUs) could also be game changers in other industries. So, the company developed the parallel computing platform, CUDA, to make that happen. That was one key move. The second key move was Huang's decision to focus GPU design on serving the AI market. This allowed the company to get in on this space early and construct a leadership position. The strategy worked, catapu...

Key Points Nvidia stock has soared more than 1,100% over the past three calendar years. This is thanks to the company’s dominance in the high-growth AI market. 10 stocks we like better than Nvidia › Since the start of the artificial intelligence (AI) boom, investors have asked one question with each new year: Can Nvidia (NASDAQ: NVDA), the world's AI chip leader, deliver yet another year of outstanding stock market performance? The company has seen its stock soar over the past three consecutive years, in total advancing more than 1,100%. The reason for this is clear: Nvidia has established itself as a key player in a market marching toward trillions of dollars in value. Analysts expect the AI market to reach about $2 trillion by early next decade. Nvidia is well-positioned to benefit as it sells the AI chips that the biggest tech companies have been flocking to -- and Nvidia prioritizes innovation in order to maintain its dominance. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Of course, it's impossible to guarantee with 100% certainty what Nvidia stock will do this year. Any unexpected event, either specific to the company or industry, or an economic or geopolitical happening, could alter the picture. But we can make predictions based on the company's growth track record and revenue potential to give ourselves an idea of where Nvidia may be by the end of the year. With this in mind, my prediction is that Nvidia's stock will reach the following level by the end of 2026. The early Nvidia story Before diving in, though, let's trace Nvidia's path so far. The company isn't new to the scene; Chief executive officer Jensen Huang founded Nvidia more than 30 years ago, and in the company's early days, its biggest business was serving the video games market. But it was clear that Nvidia's graphics processing units (GPUs) could also be game changers in other industries. So, the company d...

The S&P 500 Index ($SPX) (SPY) on Monday rose +0.63%, the Dow Jones Industrials Index ($DOWI) (DIA) rose +0.68%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose +0.59%. March E-mini S&P futures (ESH26) rose +0.56%, and March E-mini Nasdaq futures (NQH26) rose +0.49%. Stocks saw support from lower T-note yields and the stronger-than-expected US durable goods orders report, which suggested a resilient US economy. Join 200K+ Subscribers: However, stocks were undercut by President Trump’s new threat of 100% tariffs on US imports from Canada, the possibility of a US government shutdown over ICE funding, lingering concerns about Greenland, and business and travel disruptions from the massive storm that just crossed the US. There is also political uncertainty about the Fed, as the FOMC is expected to leave rates unchanged at its meeting this week, potentially drawing new threats from Mr. Trump for a refusal to cut interest rates further. Stocks were undercut on Monday by increased trade uncertainty after President Trump on Saturday threatened 100% tariffs on US imports from Canada if Canada signs a trade agreement with China. Canada is seeking other trade partners amid President Trump’s propensity for tariffs. The risk of another partial government shutdown is also weighing on stocks. Senate Democrats threatened to block a government funding deal over Department of Homeland Security/ICE funding after the ICE shooting of an ICU nurse in Minnesota on Saturday. There could be a partial government shutdown when the current stopgap funding measure expires this Friday. The dollar index on Monday fell -0.5% and hit a 4-month low amid speculation that the US might coordinate intervention with Japan to boost the yen, which would dovetail with Mr. Trump’s apparent view that a weak dollar is good for the US as a stimulus to US exports. US authorities reportedly contacted market participants last Friday to check dollar/yen prices, a possible precursor to intervention. The dollar is also l...

Gold rose, holding above $5,000 an ounce for a second day, as a weak dollar helped to extend a rally fueled by geopolitical risks and investor flight from sovereign bonds and currencies. Bullion jumped as much as 0.8% early on Tuesday, its seventh straight day of gains. A gauge of the dollar fell to the lowest in nearly four years during the previous session, making gold more affordable for most buyers, while US President Donald Trump threatened to hike tariffs on South Korean goods to 25%. Gold’s recent gains — the metal has risen nearly 17% so far this year — reflect the revival of the so-called debasement trade, whereby investors retreat from currencies and sovereign bonds. A massive selloff in the Japanese bond market last week is the latest example of investors rejecting heavy fiscal spending. Gold rose 0.7% to $5,042.52 an ounce as of 7:27 a.m. in Singapore. Silver advanced 2.7% to $106.54 an ounce, having hit an all-time high above $117.71 in the previous session before retreating. Platinum and palladium climbed, while the Bloomberg Dollar Spot Index was flat after falling 0.4% in the previous session.

(RTTNews) - The Malaysia stock market has moved higher in back-to-back sessions, gathering more than 6 points or 0.4 percent along the way. The Kuala Lumpur Composite Index new rests just beneath the 1,495-point plateau and it may tick higher again on Friday. The global forecast for the Asian markets is mixed to higher, with support coming from technology, finance and oil stocks. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The KLCI finished slightly higher on Thursday as gains from the financials, plantations and telecoms were capped by weakness from the glove makers. For the day, the index rose 3.38 points or 0.23 percent to finish at 1,494.73 after trading between 1,486.98 and 1,497.66. Volume was 2.392 billion shares worth 1.861 billion ringgit. There were 416 gainers and 372 decliners. Among the actives, Axiata and Genting Malaysia both gained 0.34 percent, while Dialog Group and INARI both added 0.45 percent, Digi.com climbed 0.57 percent, Hartalega Holdings plunged 2.42 percent, IHH Healthcare rose 0.32 percent, Maybank collected 0.22 percent, Maxis surged 1.60 percent, MISC jumped 0.99 percent, MRDIY advanced 0.48 percent, Petronas Chemicals sank 0.56 percent, PPB Group fell 0.24 percent, Press Metal strengthened 0.60 percent, Sime Darby spiked 1.33 percent, Sime Darby Plantations perked 0.23 percent, Telekom Malaysia soared 1.55 percent, Tenaga Nasional rallied 1.14 percent, Top Glove tumbled 1.24 percent and IOI Corporation, Kuala Lumpur Kepong, CIMB Group, Public Bank, RHB Capital and Genting were unchanged. The lead from Wall Street is positive as the major averages shook off early weakness on Thursday, using an afternoon rally to climb up into positive territory. The Dow jumped 193.24 points or 0.61 percent to finish at 31,774.52, while the NASDAQ gained 70.23 points or 0.60 percent to end at 11,862.13 and the S&P 500 rose 26.31 points or 0.66 percent to close at 4,006.18. The volatil...

PORTLAND, Maine, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based bank, today reported net income of $20.7 million, or $2.47 per diluted common share, for the quarter ended December 31, 2025, compared to net income of $22.4 million, or $2.74 per diluted common share, for the quarter ended December 31, 2024. Net income for the six months ended December 31, 2025 was $43.3 million, or $5.14 per diluted common share, compared to $39.5 million, or $4.85 per diluted common share, for the six months ended December 31, 2024. The Board of Directors declared a cash dividend of $0.01 per share, payable on February 25, 2026, to shareholders of record as of February 11, 2026. "The Bank generated strong loan activity during the second fiscal quarter,” said Rick Wayne, Chief Executive Officer. “Quarterly loan volume totaled $895.7 million, consisting of $532.9 million of purchased loans at an average price of 92.6% of unpaid principal balance, a record $252.4 million of National Lending originated loans, $39.8 million of SBA 7(a) loans and $70.6 million of insured small balance business loans. Total loans at December 31, 2025 were $4.35 billion, representing an increase of $594.4 million or 15.8% over June 30, 2025. The majority of the loan activity occurred late in the second fiscal quarter, resulting in minimal impact on the quarter's average loan balance of $3.89 billion and net interest income. This loan growth provides a strong tailwind for net interest income in the next and subsequent quarters. Our capital levels remain strong and provide us with the capacity to respond to opportunities available in the marketplace." As of December 31, 2025, total assets were $4.95 billion, an increase of $668.2 million, or 15.6%, from total assets of $4.28 billion as of June 30, 2025, due to the following: 1. The following table highlights the changes in the loan portfolio, including loans held for sale, for the six months ended December 31, 2025: ...