From the first responsible investment concept fund and the first Equator Bank in the country, responsible investment has gone through a 15-year long journey, and ESG has become an emerging mainstream...

Sustainable Column | "Dual Carbon" Three-Year Anniversary, What Do 1889 Investors Say?

The better-than-expected earnings report has alleviated some concerns in the market about the demand for luxury goods. However, LVMH's scale and financial strength far surpass its peers in the industry, which does not fully indicate an overall improvement in the industry.

LVMH's impressive financial report: Is the downturn in the luxury goods industry over?

美国 12 月核心 PCE 物价指数同比增长 2.9%，增速创 2021 年 3 月以来新低。

保时捷发布了全新纯电动 Macan，这是其旗下第二款纯电车型，也是首款 SUV 车型。该车型分为 Macan 4 和 Macan Turbo 两款，目前在中国市场已经开始预售。虽然价格尚未确定，但预计起价约为 55 万元。保时捷希望通过推出电动 Macan 来提振销量，因为去年其销量下降了 15%。新车型的外观造型酷似保时捷传统风格，但网友们对其外观并不满意。新车型采用了家族式设计语言，车身尺寸较为紧凑，更像一台 Coupe 车型。全新纯电 Macan 的预计正式上市时间为 2024 年。

最便宜纯电保时捷来了！网友：不是买不起，小米更有性价比

Previously served as the Chief Auditor of BANK OF CHINA.

New Secretary of the Board of Directors Appointed at Bank of China: "Everything is Clear"

Tesla has already made contact with sovereign wealth funds in the Middle East and other countries, and xAI plans to raise $6 billion to challenge OpenAI.

Valued at $20 billion! Musk's AI startup reportedly seeks $6 billion in funding.

拼多多旗下跨境电商平台 Temu 推出 “半托管模式”，试点放在美国市场，旨在解决商家的清库存压力。该模式允许商家自行发货履约，但不能超过亚马逊的定价。此举有助于 Temu 扩充品类和降低履约成本。目前 Temu 的配送时常为 7-10 天，而亚马逊 Prime 会员则为 1-2 天，普通用户为 2-5 天。为了降低履约成本，Temu 与物流公司合作。

Temu 将启 “半托管” 模式，要帮亚马逊商家清库存

比特币日内涨幅扩大至逾 3%，ProShares 比特币策略 ETF 上涨 3.6%。

Options are not gambling tools, but rather sophisticated insurance.

Profile | He made 1 billion in just 3 months using options

Intel plunged 11% in pre-market trading, dragging down chip stocks.

Hot discussion on WSB | AMC ENT cumulative plummeted 99%, ranked 25th on the popularity list

比特币向上触及 41000 美元/枚，创 4 日新高，日内涨 2.83%。

Bank of America believes that the interest rate cuts by central banks in Europe and the United States may be much lower than market expectations. If the market expectations are not met, the US dollar may benefit in the short term.

If the central banks in Europe and the United States do not cut interest rates this year?

美国四季度 1 美元的 GDP 增长，是用 1.55 美元赤字、超 2.50 美元债务换来的。

美国 GDP 超预期，意味着软着陆？未必，还有个大隐患

会议强调，金融机构要高度重视，加强组织领导，建立内部机制，明确工作规则。对符合授信条件的项目，要建立授信绿色通道，优化审批流程、缩短审批时限，积极满足合理融资需求。对开发建设暂时遇到困难但资金基本能够平衡的项目，不盲目抽贷、断贷、压贷，通过存量贷款展期、调整还款安排、新增贷款等方式予以支持。同时，金融机构要加强资金封闭管理，严防信贷资金被挪用。

国家金融监督管理总局：对符合授信条件的项目积极满足合理融资需求 加强资金封闭管理，严防信贷资金被挪用

光大证券资管聘任张丁为总经理助理。张丁在过去担任了多个机构的研究员和经理，具备丰富的投资经验。2017 年加入光证资管后，他担任了多个集合计划的投资经理职务。这一提拔表明光大证券资管加强了固收投资能力。

巩固固收投资能力， 这家券商资管提拔一名总助

Tech stocks in the US stock market fell across the board before the market opened, with only Tesla rising by nearly 1%. Intel plummeted over 12% due to lower-than-expected Q1 performance guidance. AMD fell over 2%, while NVIDIA dropped over 1%. Chinese concept stocks also experienced a significant decline, with Bilibili falling over 3%, JD.com and NetEase dropping over 2%, and Li Auto, XPeng-W, Pinduoduo, Alibaba, and Nio all falling over 1%.

Pre-market US Stocks | Intel plunges 12%, leading the decline in chip stocks! Chinese concept stocks fall, Tesla rises!

Tech stock bull Wade Bush has lowered Tesla's target price from $350 to $315. Meanwhile, Lyon has raised PDD's target price to $180 but lowered Tencent's target price to HKD 440. Wall Street is also lowering target prices for JD, XPENG-W, and Apple!

Rating Quick Look | PDD, Netflix, Microsoft, AMD Target Prices Raised! Tesla, Tencent Face "Price Cuts"

多只重磅科技股将于下周放榜，美股盘后关注苹果、微软、谷歌亚马逊及 Meta Platforms。此外，埃克森美孚石油、通用汽车等明星股亦将公布最新财报。中国 1 月官方 PMI 将于下周公布，美国非农数据亦将于下周公布。美联储 FOMC 将于下周四凌晨公布利率决议，敬请留意。

英特尔美股盘前大跌 12%，公司一季度业绩指引远逊预期。

香港证监会今日告诫公众，提防两项分别名为 “Floki Staking Program＂及 “TokenFi Staking Program＂的可疑投资产品。两项产品涉及加密货币质押服务，并声称可提供 30% 至超过 100% 的高水平年率化回报目标。

香港证监会：提防两项可疑投资产品

The Nasdaq 100 futures, which are mainly composed of technology stocks, fell nearly 1%. European stocks continued their upward trend from the previous day, with the French CAC 40 index expanding its gains to 1.36%, driven by luxury goods giant LVMH.

US stock index futures all fell, while European stocks rose across the board, with LVMH surging 8%.

扎克伯格这两年似乎开始彻底放飞自我，甚至被称为 “马斯克化”。

元宇宙不去也罢？！小扎的新事业，是养吃坚果喝啤酒的神户牛

On January 26th, 200,000 contracts of Tesla with an expiration date of $180 were traded, making it the hottest overnight contract. Additionally, over 180,000 contracts of Tesla with a strike price of $190 were also traded! The trading volume of Alibaba options was halved to 220,000 contracts, with call options accounting for 72% of the total.

US Stock Options | Tesla's trading volume doubles to 4.68 million contracts! NVIDIA falls, BABA-SWR cut in half

灰度比特币信托基金（GBTC）的资金流出放缓，使比特币稳定在 4 万美元左右，有助于遏制比特币的暴跌。自 1 月 11 日比特币成为交易所交易基金以来，已有约 48 亿美元退出 GBTC 投资组合。GBTC 转型为现货 ETF 后，持有者选择抛售，引发了其他 9 只现货比特币 ETF 的上市。这些基金吸引了逾 50 亿美元的资金。

现货 ETF 已经主导市场？灰度比特币信托资金流出放缓 比特币站稳 4 万美元

港股半导体股尾盘多数下跌，宏光半导体跌近 7%，上海复旦、华虹半导体跌超 5%，中芯国际跌超 3%，晶门半导体跌近 2%。

OpenAI 连续推出五个大模型，其中包括 GPT-4 Turbo 预览模型、GPT-3.5 Turbo 模型、文本审核模型和文本嵌入模型。这些模型不仅更强大，还解决了以往的问题，比如 GPT-4 变懒的情况。此外，新的模型价格更低，降幅达到五分之一，对开发者来说是巨大的胜利。同时，OpenAI 还计划在未来几个月内推出新版 GPT-4 Turbo 和 GPT-3.5 Turbo 模型。总之，OpenAI 的连续更新为开发者带来了更多可能性。

GPT-4 不偷懒了！OpenAI 连甩五个大模型，价格最低打两折

美国银行：科技股迎来自 2023 年 8 月以来最大单周资金流入（28 亿美元）。

Individuals who understand both AI and product have become highly sought after by Silicon Valley giants.

Silicon Valley has already laid off 20,000 people at the beginning of the year. Are tech giants "laying off" to subsidize "AI"?

大摩調低恒指今年底目標至 16000 點，相當預測市盈率 8 倍。國企指數今年底的基本情境目標由 6350 點降至 5450 點。此為投資研究相關資訊。

大摩調低恒指今年底目標至 16000 點

1 月 26 日，特斯拉官博宣布，特斯拉赛博越野旅行车中国巡展将于 1 月 28 日正式开启，地点分别位于北京·华贸中心、上海·兴业太古汇、深圳·万象天地、杭州·湖滨 in77、南京·德基广场、西安·SKP、成都·太古里、重庆·龙湖时代天街。

特斯拉 Cybertruck 中国巡展将于 1 月 28 日开启

记者今日以投资者身份从华大智造方面获悉，就美国相关生物安全法案提案对公司的影响和公司的应对措施，公司正在核实、评估。注：今日下午，药明系和华大智造突然闪崩，业内流传美国拟出台《生物安全法案》，确保外国生物技术公司无法获得美国纳税人的资金，其中提及的公司有华大基因集团及其子公司华大智造和 Complete Genomics，以及另一家中国公司药明康德。

华大智造：对业内流传美提案影响正在核实、评估

针对美国个别议员拟相关生物安全法提案提议禁止华大基因、药明康德等外国生物公司一事，以及文件中提及 “药明生物首席执行官陈智胜曾任中国人民解放军军事医学科学院兼职教授” 这一信息，1 月 26 日下午，药明生物首席执行官陈智胜记者时称，“这只是一个反华议员的提议，到变成法律是极小概率事件，而且要几年时间。我个人也没有在军方任何机构任职过。我们会尽快公告澄清一下。

药明生物 CEO 陈智胜回应：美相关提案通过是极小概率事情

BC Technology Group's stock fell more than 8% during trading, and its stock price has dropped by 57% since the beginning of the year. As of the time of writing, it has fallen by 5.65% to HKD 5.18, with a turnover of HKD 8.2766 million. On the news front, since the US SEC approved 11 Bitcoin spot ETFs on January 11th, the price of Bitcoin has experienced multiple significant declines. This Tuesday, Bitcoin fell to $38,900, a 20.6% drop from its previous three-year high. JPMorgan pointed out that the price of Bitcoin has come under pressure, falling below $40,000, and the enthusiasm for spot ETFs may further diminish, leading to price declines and reduced trading volume, as well as a decrease in auxiliary revenue opportunities for companies like Coinbase. Deutsche Bank conducted a survey of 2,000 retail investors in the United States, the United Kingdom, and Europe after the listing of Bitcoin ETFs. More than one-third of the respondents stated that by the end of the year, the price of Bitcoin will fall below $20,000, and more people expect the cryptocurrency to disappear. Deutsche Bank pointed out that this negative sentiment is due to past lessons, such as the collapse of the cryptocurrency exchange FTX and the TerraUSD crash, combined with the tightening regulatory trend in the United States, which has collectively led to a lack of confidence among retail investors.

Hong Kong Stock Market News | BC Technology Group's stock price drops more than 8% during trading, with a cumulative decline of nearly 60% since the beginning of the year. Bitcoin prices continue to be under pressure.

AMD's stock price reached a new all-time high on Thursday, and UBS raised its target price. Analysts said they are more confident in AMD's data center GPU revenue opportunities and have raised the target price from $135 to $220, expecting AMD's annual revenue this year to be close to $10 billion.

AMD stock price hits a new all-time high, UBS "not afraid of high prices": significantly raises target price

商务部部长王文涛表示，中方愿意同美方认真落实好两国元首旧金山会晤共识，充分发挥两国商务部建立的沟通交流机制作用，包括部长级会谈、副部长级会议、司局级月度磋商和出口管制信息交流机制。双方将保持定期沟通，推动务实合作，为两国经贸合作特别是企业稳定预期创造良好环境。

商务部：中方愿意同美方认真落实好两国元首旧金山会晤共识 充分发挥两国商务部建立的沟通交流机制作用

Investors are optimistic that the booming development of artificial intelligence, cost-cutting measures, broader economic growth, easing inflation, and prospects of interest rate cuts will contribute to the continued impressive performance of technology giants.

Alphabet-C, Microsoft, and Meta Platforms all hit new highs, and next week's earnings reports are expected to be "fully loaded."

IBM's performance and revenue guidance exceeded expectations, with the stock price rising by over 9%, reaching a new high in over 10 years. The company's cognitive AI business orders doubled in the fourth quarter, leading Wall Street institutions to raise IBM's target price and proclaim the return of the "Blue Giant".

Stock price reaches a 10-year high! The AI frenzy has finally reached IBM, and Wall Street is cheering "The Blue Giant Returns"

内地揽客亦是 2023 年、2024 年国泰重建计划的重中之重。目前，国泰已经是提供最多出境航班的非内地航司，每周已经有 180 对往返香港和内地的航班。

香港最大航司继续押宝内地

In response to the EU antitrust case, Apple has made concessions by reducing its commission fee to "30%". However, analysts believe that the fixed fees charged by Apple based on app installations will undermine the motivation for people to launch third-party app stores, and the demand for third-party app stores in the market is still unclear.

Did Apple make concessions? Will they no longer charge the "Apple tax"? You're thinking too much.

JPMorgan Chase's senior management has undergone personnel changes, adjusting senior executives in the investment banking and consumer sectors to gain more experience in managing different businesses. JPMorgan Chase has appointed Marianne Lake as the sole CEO of the consumer sector, while Jennifer Piepszak will serve as co-CEO of the merged commercial and investment banking division alongside Troy Rohrbaugh. This change has sparked speculation about the successor to JPMorgan Chase's CEO. Analysts believe that Jennifer Piepszak's expanded role in the commercial and investment banking business gives her an advantage in succession planning. The issue of JPMorgan Chase's CEO succession has been a topic of great interest.

Top-level personnel changes at JPMorgan Chase, who will become the next "Wall Street King"?

香港恒生指数下跌 1%，至 16,047.82 点。恒生科技指数跌 2.7%。

大和资本市场：将特斯拉目标价从 280 美元下调至 245 美元。

Crisis is an opportunity. Researchers have found that whenever Tesla falls by at least 5% to a 6-month low, the stock will rebound strongly in the next 30 days! "100% success rate! Average return rate of 18%!"

Is this a buying opportunity for Tesla as it plunges over 12% to a new low?

Almost every AI startup is backed by a giant, and the US FTC says, "We must be vigilant about the potential for monopolistic behavior in this."

"Microsoft + OpenAIenAI" model attracts regulatory attention

马斯克在特斯拉财报会上发表的言论被视为消极，导致特斯拉股价大跌。他预测特斯拉今年的销量增长将放缓，同时对 Dojo 超算的成功概率持低看法。然而，一位用户指出 Dojo 已经有多个版本在开发中。马斯克回应称，在特斯拉和 SpaceX 初创时，他对它们成功的估计都不到 10%。他表示，人们告诉他可能会失败，但这并没有阻止他的决心。此次财报会上的言论引发了市场的关注和反应。

马斯克回应财报会 “消极” 言论：我当年估计特斯拉成功概率不到 10%！

淘宝的困境，也成了亚马逊的难题。

三十岁的亚马逊，遭遇出海 “四小龙” 围剿

摩根大通发布研究报告，将中国联通评级由 “中性” 上调至 “增持”，并将目标价上调 46% 至 7.3 港元。摩根大通认为，在中资电讯股中，他们较喜欢中国联通，其次是中国电信，再次是中国移动。中国联通是一家主要提供电信服务的香港投资控股公司，主要从事移动业务、固网业务及其他业务。

小摩：上调中国联通评级至 “增持” 目标价升 46% 至 7.3 港元

东方甄选中期净利下滑 57.4%，薪酬开支增加近 1.7 倍。CEO 俞敏洪表示，虽然这对公司不利，但对长远发展有好处，公司进行组织结构调整和战略重新定位。主播薪资有所调整，虽会影响利润，但不会太多。虽然有与辉同行平台，但销量稳定，不受太大影响。俞敏洪认为，公司应全面发展，不应只依赖董宇辉一个人。

东方甄选净利下滑，薪酬开支增近 1.7 倍！俞敏洪：只依赖董宇辉就不是正常公司

* 里昂升拼多多目标价至 180 美元 中国和海外市场份额不断增长

* 里昂升拼多多目标价至 180 美元  中国和海外市场份额不断增长

* 高盛降苹果目标价至 223 美元 料季绩符预期