格隆汇1月26日｜南京市人民政府印发《关于加快培育新质生产力推动高质量发展的若干政策（2026年版）》，其中提出，加快未来产业布局建设。聚焦第六代信息通信（6G）、基因与细胞、先进半导体材料、原子级制造、脑机接口、合成生物等未来产业新赛道，建立国家、省、市协同衔接的未来产业先导区培育体系，对入选国家级未来产业先导区的园区给予支持。鼓励专业机构参与市级以上未来产业先导区运营服务，引入产业要素资源，完善产业创新生态。大力培育新一代光伏电池等未来能源，推进全市虚拟电厂能力建设。

Kiwis/iStock via Getty Images National HealthCare ( NHC ) has had a nice run in the recent months. Total return is 17% in the past 3 months and 51% in the past 6 months: Total Return of NHC vs. S&P 500 (Seeking Alpha) The gains appear to have been driven by earnings growth, with valuation ratios nearly unchanged from year-ago levels. EV/EBITDA is currently in the low double digits, which could indicate that the market is not expecting high earnings growth in the next few years. However, I continue to believe that high growth is the more likely outcome, and NHC remains the largest position in my portfolio. Inpatient stays in rehab hospitals and traditional hospitals are incredibly expensive. Recent trends of moving some of that inpatient burden to far less expensive skilled nursing facilities will continue. The result of this will be a continued increase in nursing home occupancy and patient acuity. For those that may not be familiar with the company, NHC owns and operates skilled nursing facilities, assisted living facilities, and independent living facilities. NHC also owns and operates home health, home personal care, and hospice agencies. Skilled nursing facilities are really the heart of the business, contributing approximately 85% of total revenue. Although NHC owns the majority of facilities that it operates, it rents a significant portion from National Health Investors ( NHI ). The master lease expires at the end of 2026, and lease renewal negotiations are ongoing. This article includes: A review of NHC's strong 3rd quarter results and a 4th quarter earnings preview. A section about the lease renewal between NHC and NHI, with a potential solution that would benefit both companies. Valuation using fair value models Potential hidden value in NHC's owned properties Overview and commentary on the primary risks the company faces 3rd Quarter Results and 4th Quarter Preview In November, NHC once again reported strong quarterly earnings . Highlights included adjusted...

郭毅可表示，“不应该担心‘人类被机器战胜’，而是应该思考怎么样用好人工智能来帮助我们人类自己更好地进化。” 【财新网】 2026年1月高山书院十周年系列活动期间，高山书院学术管理委员会委员、英国皇家工程院院士、中国工程院外籍院士、国际知名计算机科学家、香港科技大学首席副校长郭毅可在接受财新专访时表示，AI应用于投资领域，一定会比人类交易员做得更好。 人们在讨论人工智能问题的时候，会非常关注机器将来会不会取代人类？机器是不是会有意识？机器的智能跟人类智能有没有区别？郭毅可认为，“我们还要思考最基本的问题——什么是智能？什么是生命？什么是意识？它们之间的关系和智能产生的原理到底是什么样的科学进化过程？然后这些都要搞清楚智能机制是什么？这些都得要做一些的研究，如果没有这些基础性研究，只是空谈一些观点，是不会对学科的发展有太大影响的。”

日本首相、执政党自民党总裁高市早苗26日在党首辩论上称，若执政党阵营在众议院选举中未获得过半数议席，她将即刻辞职。（央视新闻）

现货黄金站上5110美元/盎司，日内涨2.44%。

腾讯正在通过其最擅长的社交打法，试图在日益拥挤的AI赛道中复制当年的移动支付奇迹。 1月26日，腾讯董事会主席马化腾在公司年会上定调2025年为“AI大年”，并宣布旗下AI应用“元宝”将于2月1日启动春节分10亿元现金活动。马化腾明确表示，希望通过此次高额补贴，重现当年微信红包“摇一摇”绑定数亿用户的盛况。这标志着腾讯已将AI产品的用户获取与活跃度提升至集团战略级的优先地位。 与此同时，腾讯元宝低调开启了名为“元宝派”的社交功能内测，马化腾透露该产品此前属于“绝密项目”。根据媒体报道，“元宝派”允许用户创建群组，AI在其中不仅担任助手，还深度参与社交互动。此举意味着腾讯正试图打破当前AI应用仅作为提效工具的局限，将其拉入高频的社交场景，通过“人机共生”的交互模式构建新的流量护城河。 分析人士指出，腾讯此次“左手重金补贴，右手社交裂变”的组合拳，显示出其在AI商业化落地上的紧迫感。在经历了去年的行业混战后，腾讯正试图利用其在社交链上的垄断优势，加速完成对用户AI使用习惯的“闪电式改造”，以应对字节跳动、百度等竞争对手在AI应用侧的激烈挑战。 10亿现金重注，意在复刻支付战役奇迹 对于腾讯而言，春节往往是其关键产品的爆发节点。马化腾在年会上提及，元宝即将展开的春节分10亿元现金活动，旨在复刻2015年微信支付的成功路径。当年，微信凭借春晚“摇一摇”发放数亿现金红包，成功将海量用户绑定至其支付生态，完成了对移动支付格局的颠覆。 根据腾讯官方发布的信息，此次活动将于2月1日正式上线。用户登录元宝App即可参与瓜分10亿现金红包，单个红包金额最高可达万元，此外还设有“万元小马卡”等激励机制。目前，元宝App已更新版本并开启预约，预约用户可获得额外抽奖次数。 市场观点认为，腾讯多年未在大规模现金补贴战中现身，此番重金投入元宝，凸显了管理层对AI赛道“不容有失”的决心。通过高额补贴降低用户门槛，再结合春节这一高流量窗口，腾讯意在短时间内迅速扩大元宝的用户基数，为其后续的社交化探索提供流量土壤。 “绝密项目”浮出水面，AI杀入社交腹地 除了资金投入，腾讯在产品形态上也打出了差异化的一张牌。据硬AI报道，1月26日开启内测的“元宝派”，被视为腾讯探索AI社交新形态的关键一步。 从流出的内测信息来看，“元宝派”打破了传统Chatbot（对话机器人）“一对一”问答的工具属性。用户可以创建...

格隆汇1月26日｜国海证券研报指出，顺丰控股短期利润扰动或面临拐点；收入稳增叠加降本增效，中期盈利能力有望稳步提升；长期看供应链及国际业务第二增长曲线蓄势待发。考虑到多网融通及营运变革深入推进，对成本费用节约的效果逐步显现，预计2025-2027年归母净利润分别110.75亿元、122.85亿元、138.23亿元，同比增长8.90%、10.92%、12.52%，对应PE分别18倍、16倍、14倍。参考顺丰控股A股近三年平均PE（TTM）约24倍，考虑公司激活经营下业务量增长、精益管理成本费用有望带动利润率提升，预计进入产能投放后回报周期，远期国际业务有望打开增长空间，首次覆盖，给予公司“买入”评级。

在今日召开的腾讯年会上，腾讯董事会主席马化腾表示，腾讯视频去年没那么多爆款产品，要给耐心，这跟投入周期有关。腾讯视频去年受到短剧冲击，除了坚持高品质长视频投入，接下来也要做一些广告驱动的产品。（第一财经）

格隆汇1月26日｜A股市场疫苗股集体走强，其中，华兰疫苗、金迪克20CM涨停，智飞生物涨超15%，康乐卫士涨超13%，康希诺涨超12%，沃森生物涨超10%，康泰生物涨超7%，万泰生物涨近6%。 消息面上，近日，印度西孟加拉邦暴发尼帕病毒疫情。可人传人，死亡率最高达75%，尚无疫苗。泰国民航局宣布，26日起对来自印度西孟加拉邦的航班进行全面筛查，以防止尼帕病毒输入泰国。 值得注意的是，金迪克对媒体称，公司注意到了尼帕病毒相关新闻，但公司没有相关产品。

南京市人民政府印发《关于加快培育新质生产力推动高质量发展的若干政策（2026年版）》，其中提出，加快未来产业布局建设。聚焦第六代信息通信（6G）、基因与细胞、先进半导体材料、原子级制造、脑机接口、合成生物等未来产业新赛道，建立国家、省、市协同衔接的未来产业先导区培育体系，对入选国家级未来产业先导区的园区给予支持。鼓励专业机构参与市级以上未来产业先导区运营服务，引入产业要素资源，完善产业创新生态。大力培育新一代光伏电池等未来能源，推进全市虚拟电厂能力建设。

A baggy green cap worn by the Australian cricket great Sir Donald Bradman has sold for $460,000 to an anonymous buyer at a Gold Coast auction. Bradman wore the cap during the 1947-48 series against India – his final home Test series before retiring in 1948 with a career batting average of 99.94, earning him the reputation as cricket’s greatest batter. Bradman gifted the cap to the Indian cricketer SW Sohoni during the series and it remained with his family for generations, never exhibited publicly. It was sold on Monday afternoon by Lloyds Auctions. View image in fullscreen The Sohoni family displays Bradman’s cap before auction. Photograph: Lloyds Auctioneers and Valuers Lee Hames, the chief operating officer of Lloyds Auctioneers and Valuers, called the cap a “holy grail of cricket” before the bidding commenced. Hames said at the auction that Sohoni’s “dying wish was to have the cap return to Australian shores”. “It has been hidden for 75 years, that’s over three generations under lock and key,” he said. “If you were a family member you were only allowed to look at it when you were 16 years old for five minutes.” A spokesperson for Lloyds Auctions said the cap would now remain in Australia and “will be put on display at a prominent museum”. View image in fullscreen Sohoni and Bradman’s names are inscribed in the interior of the cap. Photograph: Lloyds Auctioneers and Valuers On the inside of the cap, the names “D.G. Bradman” and “S.W. Sohoni” are inscribed. Bids for the baggy green started at $1, garnering significant interest from buyers in person and online from around Australia, India and the UK – ultimately selling for $460,000 before the addition of a 16.5% buyer’s premium. “Cherished in the family collection ever since, this cap links you to Don Bradman’s invincible era and a memorable exchange with the Indian squad,” the cap’s auction description said. “Australia dominated, winning 4–0 with one match drawn … part of the post-World War II revival of internat...

Caribbean cannabis growers eye budding domestic sales and exports 5 hours ago Share Save Gemma Handy Business reporter, St John’s, Antigua Share Save Gemma Handy Antiguan cannabis grower Michaelus Tracey says that a lot of effort is put into developing new strains Rub the leaf and inhale the fragrance, Michaelus Tracey is saying. The musky scent of this cannabis plant is distinctly different from the citrusy aroma of another that he is also holding. To the untrained eye, the neat rows of flowering cannabis crops in front of us are indistinguishable from each other. Yet master cultivator Tracey can identify the separate varieties by their smell and the shape of their leaves. Nine strains are being grown here at Pineapple Road, a farm deep in the countryside on the Caribbean island of Antigua. The warm temperatures, abundant sunshine, and high humidity make this prime territory for growing the plants. Intense trials were conducted to produce the various strains, Tracey explains. "We wanted different flavour profiles as well as different effects, but all with a medicinal value - something to help you relax, something to give you more energy, more pain relief, less anxiety." Gemma Handy Cannibis plants thrive in Antigua's warm, sunny conditions Last year marked a decade since Jamaica decriminalised the recreational use of cannabis and legalised its production and sale for medical reasons. Several other Caribbean nations, including the twin island country Antigua and Barbuda in 2018, have since followed suit. Smoking cannabis is emblematic of Caribbean culture, to the extent it has become a cliché. But while the region's affection for the plant is well documented, its status as a leader in the field is less so. Today the region is home to a plethora of legally registered cannabis farms and medicinal dispensaries, where both locals and tourists can purchase the drug if they have a valid medical authorisation card. Yet Prof Rose-Marie Belle Antoine, an expert on the cannab...

加尔各答附近一家私立医院的两名医护人员是本次立百病毒疫情中最早被确诊的患者。 （示意图／Pixabay） 印度西孟加拉邦一名卫生官称，加尔各答附近一家私立医院的两名医护人员是本次立百病毒疫情中最早被确诊的患者。 印度媒体引述西孟加拉邦的一名卫生官员说，加尔各答附近一家私立医院的两名医护人员，极有可能是从一名出现严重呼吸道症状的患者那里感染立百病毒（Nipah virus）。这名患者在接受立百病毒检测前就已去世。 位于印度东部的西孟加拉邦近期出现立百病毒疫情，确诊病例已升至五起。感染者正在西孟加拉邦首府加尔各答及周边医院接受治疗，其中一名患者病情危重。 报道说，当地政府正采取措施遏制病毒传播，目前已有近百人被要求居家隔离。由于立百病毒通常由蝙蝠传染给人类，西孟加拉邦已要求多个动物园对圈养的蝙蝠进行采样检测。 据世界卫生组织（WHO）介绍，立百病毒是一种人畜共患病毒，可通过受感染的动物（如蝙蝠或猪）或受这些被感染动物唾液、尿液、排泄物污染的食物传染给人类，少数情况下也可人际传播。人类感染后的症状包括急性呼吸道感染和致命性脑炎，病死率通常在40%以上。目前尚无获得许可的疫苗或特效药。 流行病专家建议人们勤洗手、避免直接接触感染者或疑似确诊者的体液。 由于蝙蝠是立百病毒的天然宿主，专家警告人们避免接触任何与蝙蝠相关的事物，包括避免前往蝙蝠栖息地、避免接触蝙蝠、避免食用可能被蝙蝠污染的生食，如生枣椰树汁或生水果等。 养猪场等区域则须定时进行常规清洁消毒，以有效预防病毒。此外，计划兴建养猪场时，须考虑周边地区是否有果蝠出没。 印度自2001年以来多次出现立百病毒疫情。2025年5月17日至7月12日，印度喀拉拉邦报告了四起立百病毒感染病例，其中包括两起死亡病例。

格隆汇1月26日丨现货黄金涨逾2%，首次站上5100美元/盎司，日内大涨超110美元。

中国国开行2025年发放铁路贷款超过2000亿元（人民币，下同，363.7亿新元），同比增长27.8%，铁路贷款余额首次突破1万亿元。图为河北雄安新区，高铁列车驶入白洋淀站。 （中新社） 中国国开行2025年发放铁路贷款超过2000亿元（人民币，下同，363.7亿新元），同比增长27.8%，铁路贷款余额首次突破1万亿元。 据新华社报道，至2025年底，中国国开行参与支持的高铁项目运营总里程超过4.25万公里，占高铁网运营总里程的85%以上。 报道称，2025年，国开行发挥中长期投融资优势，积极运用中长期贷款、国开新型政策性金融工具等，支持干线铁路、重要支线铁路和铁路枢纽建设，助力沪渝蓉沿江高铁、重庆至昆明高铁等标志性项目建设。 国开行交通运输业务部总经理关宏岩表示，下一步，将持续加大对高铁网主通道建设、普速铁路干线通道能力提升、铁路多式联运和数智化升级、高铁“走出去”等领域支持力度，为完善现代化综合交通运输体系作出新贡献。 中国国家铁路集团今年1月公布，中国过去五年的铁路营业里程由14.63万公里增长12.8%至16.5万公里，高铁由3.79万公里增长32.98%至5.04万公里，已建成世界规模最大、先进发达的高速铁路网。 但与此同时，中国高铁却一直被传负债压力大，多条线路亏损。国铁集团负债2025年上半年负债约6.19万亿元。

现货黄金站上5100美元/盎司，日内涨2.24%，续创历史新高。

Russia’s first domestically-built ice-class tanker is closing in on the US-sanctioned Arctic LNG 2 plant, expanding the facility’s fleet of vessels able to transport the fuel in winter. The Alexey Kosygin tanker has completed its monthlong maiden journey across the eastern part of the Northern Sea Route and is preparing to dock at the Novatek PJSC -led plant, according to ship-tracking data compiled by Bloomberg. Once the Alexey Kosygin docks at Arctic LNG 2, it will be only the second ever ice-class tanker to do so. It is rated Arc-7, the highest ice-class ranking, which means the ship can service the plant in the winter. Until now, the only such vessel going to the facility has been the Christophe de Margerie. Designed to be Russia’s largest liquefied natural gas plant, Arctic LNG 2 is central to the country’s ambition to triple annual LNG output to 100 million tons and capture a 20% share of the global market. The addition of another ice-class tanker to the plant’s winter fleet would support LNG production and exports during the season when thick ice covers Arctic waters. The operator and Novatek, the project’s largest shareholder, did not respond to Bloomberg requests for comment on the current or future operations of the vessel. With a design capacity of nearly 20 million tons per year, Arctic LNG 2 began producing super-chilled fuel at the end of 2023 but only started exports in the summer of 2024 after western sanctions delayed shipments. During winter, when ice thickens along the Northern Sea Route, only tankers with reinforced hulls can load cargoes at Arctic LNG 2. Most vessels servicing the facility are not designed to operate in such conditions, and western restrictions have made it difficult to procure additional ice-class ships. Domestic construction of ice-class tankers has also taken longer than expected due to limited expertise in Russia. The Alexey Kosygin, built at the Zvezda shipyard in the country’s Far East, was originally scheduled for deliver...

For Immediate Releases Chicago, IL – January 26, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog includeMicrosoft Corp. MSFT, Anheuser-Busch InBev SA/NV BUD, CVS Health Corp. CVS and Stran & Co., Inc. SWAG. Here are highlights from Monday’s Analyst Blog: Top Stock Reports for Microsoft, Anheuser-Busch and CVS Health The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 12 major stocks, including Microsoft Corp., Anheuser-Busch InBev SA/NV and CVS Health Corp., as well as a micro-cap stock, Stran & Co., Inc.. The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today’s research reports here >>> Ahead of Wall Street The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning. You can read today's AWS here >>> Pre-Markets Lower Ahead of Massive Polar Vortex Today's Featured Research Reports Microsoft’s shares have outperformed the Zacks Computer - Software industry over the past year (+2.3% vs. -3.7%). The company demonstrates strong fundamentals anchored by Azure's 25% cloud market share and strategic AI integration through OpenAI. Microsoft generates exceptional operating cash flows, exceeding $100 ...

財經事務及庫務局局長許正宇回應有傳內地收緊來港上市門檻，指出本港最重要是確保股票市場質素可持續，未來一年會優化上市要求，進一步提升市場競爭力。 財經事務及庫務局局長許正宇稱：「我認為關鍵的一點，是我們努力確保我們自身市場的持續穩定發展。所以你可以看到，在未來一年裡我們會著手進行多項的工作。首先是我們對上市的要求，我們將完善上市要求，以進一步提升我們在資本市場的競爭力，尤其是在加權投票權方面。其次是於二級市場交易上，我們正研究如何將目前結算周期，由T+2調整為與市場同步的T+1，同時正在檢視交易單位，並審視股票市場的最小買賣價差，以期提高我們資本市場的整體流動性。」

《大行》中金建議關注理想汽車(02015.HK)L系列增程改款升級 維持「跑贏行業」評級 富途资讯

《大行》中金建議關注理想汽車(02015.HK)L系列增程改款升級 維持「跑贏行業」評級 富途牛牛

When David Warr was 11 he thought he was dying. At his school swimming lesson, he jumped in and swam – then realised with horror that his feet couldn’t feel the bottom. He recalls his teacher, standing on the side of the pool, shouting at him to “just swim” and his own immobilising fear. “I thought, ‘I can’t. I don’t know what to do.’ I started to panic hard. I thought, ‘She’s going to let me die.’” Warr, 61, has blocked out how he reached safety, but for five decades he refused to go out of his depth again. He lives on the island of Jersey where water is a fact of life – but even when his sons were small, he would only wade a bit, and watch them swim with envy and pride. In contrast, he felt he was “battling the water”. Warr runs a tea and coffee business and also works as a politician; he’s a deputy for the St Helier South district. He doesn’t go on holiday often, but last year he and his wife visited Norway and stayed in a hotel on a lake. The water was murky and dark. There were no shallows. Warr’s wife swam; he dipped in a toe. “I thought, ‘I’m not going in there. I don’t trust myself.’” A few days later, they passed a long zip wire. Warr plays tennis and keeps fit, and “the sense of holding age at bay is strong” for him. “I have this thing in me, which is, if there’s an inadequacy, I want to overcome that.” Warr went on the zip wire, and when he and his wife returned to Jersey, he asked his boys’ old swimming teacher, Sally Minty-Gravett, for lessons. She had repeatedly swum the Channel, so she knew what she was doing. View image in fullscreen Dream team … Sally Minty-Gravett and David Warr. Photograph: Courtesy of David Warr They met at the bottom of a slipway. Warr put on goggles and a hat. “All the gear, and no idea.” In the first lesson, he practised floating. After a few sessions, he became more confident, but he still couldn’t go out of his depth. When Minty-Gravett asked him to jump off the slipway into the deep, it was “the most fearful moment … Here I...

Investors once again pulling away from the dollar has given precious metals yet another boost, with gold and silver both rallying to new highs . Gold has risen past $5,000/ounce for the first time, and silver has hurtled through $100/ounce, having only made that level for the first time on Friday. It is now trading around $109/ounce. The yen intervention risk adds to a catalogue of risks sending traders into precious metals, including ongoing worries about Federal Reserve independence and erratic policymaking from the White House.

《大行》中金建議關注理想汽車(02015.HK)L系列增程改款升級 維持「跑贏行業」評級 AASTOCKS.com

格隆汇1月26日丨南京市政府印发《关于加快培育新质生产力推动高质量发展的若干政策（2026年版）》。其中指出，探索房地产发展新模式。用好用足国家房地产支持政策，持续释放“房七条”等既有政策效应，有效满足居民各类刚性和改善性住房需求。推动既有库存商品房全部纳入房票超市，推行“全城通兑”和“电子房票”，满足被征收群众安置需求。扩大提取住房公积金按月直付房租业务范围，在我市无住房的多子女家庭，每月提取住房公积金支付房租的限额提高20%。购房人父母、子女符合提取条件的均可申请提取住房公积金用于支付购房款，延长存量房公积金最长贷款期限至30年。

Source: Bloomberg, 5:34

财联社1月26日讯（记者 沈娇娇 实习记者 林嘉豪） 近日，海底捞（06862.HK）在上海开设首家“糖水铺”。不同于之前火锅门店内的自助糖水区，糖水铺采用“店中店”模式独立运营。 该门店店长告诉财联社记者，在没有任何线上推广的情况下，仅靠线下客流，每天的订单量保持在100单以上。 2025年12月，海底捞同样动作频频。“海底捞大排档火锅”于12月上旬在广州开出首店，采用“一人一锅”的形式，将“生鲜市集”搬进火锅店。之后陆续在青岛、上海、和武汉开业，目前总计4家门店。 事实上，面对竞争日益激烈的餐饮市场和快速迭代的消费需求，海底捞主业业绩承压，近年来主动谋求第二增长曲线。 财报显示，2025年上半年，公司营收和利润双双下滑，在总收入中占比89.8%的海底捞餐厅经营业务同比下降9%。翻台率的疲软是公司业绩下滑的重要原因，作为餐饮核心指标的翻台率2025年上半年为3.8次/天，相比去年同期的4.2次/天有所下降。 在此背景下，2024年海底捞启动“红石榴计划”，通过孵化多个餐饮品牌寻求新的业务增长路径。目前已开始运营总计14个餐饮品牌，涵盖寿司、烤肉、炸鸡等品类。值得注意的是，其他餐厅经营收入虽增长较快但占比较低，尚无法对公司业绩形成较强的支撑作用。与此同时，公司也在主动关停经营表现不达预期、增长潜力不足的餐厅。 另外，据知情人士透露，糖水铺不属于海底捞正在推进的“红石榴计划”，而是门店为提升客户体验进行的场景创新。公司给予门店主动权，鼓励门店根据区域特征开发个性化产品，通过差异化运营满足当地消费者偏好，增强竞争力。 “与糖水铺不同，推出不久的海底捞大排档火锅归属于‘红石榴计划’，是公司2026年比较重视的店型。”上述知情人士进一步指出。 从糖水铺到大排档，海底捞尝试在非正餐以及非火锅场景中捕捉增量。然而，新业务和新品牌从试点到规模化盈利仍需时间验证，且多元化布局对供应链和品牌管理能力提出了更高要求。在主业承压的情况下，如何培育出具备市场竞争力的新增长引擎，将是海底捞面临的长期考验。

格隆汇1月26日｜国海证券研报指出，南京银行2025年营收预计同比增长10.48%，归母净利润同比增长8.08%；2025Q4单季度营收同比+16.0%，归母净利润同比+8.2%。2025年公司利息净收入实现30%以上的同比增长，资产质量指标环比稳定。2025年末资产总额突破3万亿元，对公板块客户拓展速度接近20%。公司交易性金融资产占金融投资比例一度在40%以上，截至2025Q3末已低于30%，根据利率环境的变化适当灵活调整。承销业务保持领先，零售AUM同比增速高于存款增速。南京银行2025年度营收增速强劲，灵活调整金融资产结构，维持“买入”评级。