灿灿是店里的王牌美甲师，2月9日她经过满负荷的工作，直至第二天的凌晨三点才下班，当天只吃了一顿饭。她对第一财经记者表示，"店长和我们提前说 过了，做好心理准备，就忙这一周。"对于美甲师而言最大的激励是收入，春节前两周的忙碌可以为美甲师带来翻倍的工资，"希望赚更多钱回家过年"。 美发、美甲、美睫与家政保洁并称节前消费"四大金刚"。 晚上9点，当周边附近的商家准备关门时，北京将台地区的美画美甲美睫店，正在陆续迎新客进门。 刚完成一单的美甲师灿灿在客人落座后立即戴上了口罩准备开工，陈列所需的用具。门店的王店长看了看顾客要求的款式，对第一财经记者透露，"这个款 完成大概需要两个小时，但之后可能还有客人，不一定能下班。" 春节前的两周，美甲行业迎来了一年中最旺的消费季。美团服务消费趋势显示，春节前两周开始，关于"美发、美甲、美睫"的搜索量环比增长超9成。美甲 需求尤其火热，近两周搜索量环比增长翻倍。 加班至凌晨 第一财经记者在2月11晚间走访了美画美甲美睫店，6位美甲师加上6位顾客以及等位的顾客，不到30平的门店里人头攒动，却异常安静，只能听到搓条和打 磨机的声音。 王店长解释称，"日常情况美甲师会和顾客聊聊天开开玩笑 ...

Core Viewpoint - The article discusses the opportunity for investors to utilize the 1-day treasury reverse repurchase agreement (repo) to earn interest during the upcoming extended Spring Festival holiday, highlighting the unique benefits and current market conditions affecting interest rates [1][4]. Group 1: Investment Strategy - Investors can trade 1-day treasury reverse repos on February 12 to earn interest for 11 days, with funds becoming available for trading on February 13 [2][3]. - The operation of treasury reverse repos is explained as a short-term loan where investors lend money and receive fixed interest, backed by bonds as collateral, making it a flexible and low-cost investment option [2][3]. Group 2: Market Conditions - The current market shows a significant decrease in interest rates for treasury reverse repos compared to previous years, with the 1-day repo rate reported at 1.27% and 1.21% for different exchanges as of February 12 [5]. - The People's Bank of China (PBOC) has adopted a liquidity-supportive stance, conducting a 10,000 billion yuan reverse repo operation to maintain ample liquidity in the banking system, indicating a broader trend of low interest rates [5][6]. Group 3: Historical Context - Historically, interest rates for treasury reverse repos tend to spike before holidays due to increased cash demand, but this year, the rates have remained stable and lower than in previous years, reducing the potential for profit from these transactions [4][5]. - In previous years, such as 2025, the 1-day repo rate surged above 5%, but this year's rates have shown less volatility, reflecting the PBOC's efforts to manage liquidity effectively [5].

机构预计，2月光伏组件排产预计约34GW至35GW，环比下降12%至13%。 市场成交价格亦出现小幅震荡。第一财经记者了解到，2月以来，有头部组件企业接受少量低价订单，部分分销商随银浆、电池片价格下 调而小幅降价出货。 成本端银价的上涨是光伏组件排产出现下滑的主要原因。2025年下半年以来，光伏银浆价格随银价持续飙升，金属银已经是光伏组件成 本中占比最高的材料。 SMM光伏分析师郑天鸿表示："随着年关将近，终端项目对高价组件接受意愿度下降较多，国内分布式项目装机开始减少，项目采买量 开始下降，分布式价格近期承压为主。" 据券商机构测算，光伏银浆从5000元/kg至7000元/kg已经上涨到目前的约20000元/kg至21000元/kg，导致普通TOPCon组件非硅成本上升 约0.11元/W至0.15元/W。 整体来看，2026年中国光伏市场新增装机或面临回调。中国光伏行业协会顾问王勃华说："因分布式光伏管理办法、上网电价市场化改革 等政策刚落地，中国市场存在观望情绪，2026年新增装机量可能出现回调。" 成本压力迅速传导至生产端。Infolink Consulting最新分析称："银价快速上行推升电池片价格， ...

Group 1 - Shanghai and Hong Kong are accelerating the deep integration of "technology + finance" to cultivate a new high ground for global innovation resource allocation [1] - Bank of China Shanghai Branch is actively participating in the collaborative development of the Shanghai-Hong Kong International Financial Center, leveraging its global advantages to provide robust financial support for the integration of innovation chains, industrial chains, and capital chains [1] Group 2 - The Bank of China Shanghai Branch has provided comprehensive credit support to a leading domestic lidar company, facilitating its dual listing on the Hong Kong and US stock markets, marking the largest financing scale for a Chinese concept stock IPO in Hong Kong in the past four years [2] - The bank has tailored a comprehensive financial service covering the entire listing process to meet the core needs of hard technology companies in accessing international capital markets [2] Group 3 - In serving an AI chip design company, the Bank of China Shanghai Branch offered customized financial services throughout the company's growth cycle, supporting its successful listing on the Hong Kong stock market [3] - The bank provided integrated services including equity incentive plans and funding coordination to support the company's research and talent stability in both Shanghai and Hong Kong [3] Group 4 - In the biopharmaceutical sector, the Bank of China Shanghai Branch has facilitated cross-border capital flow by participating in the expansion of a large biopharmaceutical merger fund and a Hong Kong biotech fund [4] - The bank aims to establish a new model of cross-border cooperation in biopharmaceuticals, focusing on "Shanghai R&D, Hong Kong financing, and industrial collaboration" to provide efficient capital support for the transformation and industrialization of cutting-edge technologies [4] - Looking ahead, the bank will continue to deepen financial cooperation and innovation linkage between Shanghai and Hong Kong, contributing to the construction of a globally influential technology innovation center [4]

Core Viewpoint - The domestic gold market is experiencing high volatility ahead of the Chinese New Year, prompting banks to tighten gold-related business operations to mitigate risks associated with international market fluctuations during the holiday period [1][4]. Group 1: Market Conditions - As of February 12, the London gold price is reported at $5063 per ounce, while the Shanghai Gold Exchange AU9999 is at 1123 yuan per gram, with retail prices in major cities reaching up to 1556 yuan per gram [1]. - The gold market has seen significant fluctuations, with the London gold price peaking above $5600 per ounce at the end of January and then dropping below $4500 within a few days, indicating a volatility of over 20% [4]. Group 2: Bank Responses - Major banks, including China Construction Bank and Industrial Bank, have announced adjustments to their gold trading operations, such as increasing margin requirements and suspending physical buyback services [2][3]. - China Construction Bank has implemented dynamic trading limits for gold products and raised the minimum purchase amount for gold accumulation products from 950 yuan to 1200 yuan [3]. Group 3: Risk Management - Analysts warn that holding positions over the holiday could expose investors to "time difference risks," as the Shanghai Gold Exchange will be closed while international markets remain open [4]. - Banks are raising risk assessment requirements for gold investment, with some institutions only allowing clients with higher risk tolerance to engage in gold wallet transactions [3]. Group 4: Investment Strategies - Investors are advised to control their positions and avoid excessive leverage, especially during the holiday period, to mitigate potential losses from market volatility [7]. - For those considering gold as a long-term investment, a strategy of gradual buying and holding is recommended, with a suggested allocation of 5% to 10% of their asset portfolio [7].

Core Insights - The digital transformation of China's manufacturing industry is entering a critical phase, with industrial internet applications penetrating 49 categories of the national economy and achieving full coverage of 41 industrial categories by early 2026, although challenges such as non-unified standards and data silos remain [1] Group 1: AI Integration in Manufacturing - The integration of AI into manufacturing processes is becoming a trend, but issues with technology adaptation persist, with 73% of manufacturing companies utilizing less than 40% of their data and 60% facing a disconnect between AI technology and actual needs [3] - Black Lake Technology is developing industrial AI Agents to enhance production efficiency, enabling rapid decision-making and process optimization, significantly reducing the time required for complex tasks [3] Group 2: Collaborative Platform Ecosystem - The lack of unified standards in China's manufacturing sector has led to poor software compatibility, with 85% of manufacturers reporting data silos that hinder collaboration, resulting in a 12% error rate in data transmission for automotive and electronics projects [4] - Black Lake Technology has launched products like "Black Lake Intelligent Manufacturing" and "Black Lake Supply Chain" to create a collaborative platform that aggregates and analyzes production data in real-time, addressing the issue of heterogeneous system compatibility [4] Group 3: Supporting Flexible Production - The rise of personalized consumer demands is pushing the manufacturing sector towards flexibility, with small-batch and multi-category orders becoming mainstream, necessitating improved responsiveness and resource integration [5] - Black Lake Technology's "Black Lake Small Order" product helps small factories enhance their flexibility in fulfilling customized orders, significantly reducing the time from trial production to mass production [6] Group 4: Sustainable Development Pathways - The digital transformation of manufacturing in China shows significant regional imbalances, particularly affecting small and medium-sized enterprises in central and western regions, where there is a lack of understanding of digital transformation and lean manufacturing principles [7] - Black Lake Technology focuses on training and awareness-building as a key strategy for promoting digital transformation, collaborating with professional teams to offer tailored training courses [7]

目前，英韧科技已形成面向不同AI场景的系列产品组合，并前瞻性布局PCIe 6.0主控研发，探索更先进制程工 艺，以应对未来AI数据中心高密度部署的需求。 在AI技术驱动数据量爆发式增长的背景下，全球存储芯片市场迎来结构性扩容机遇，同时也开启了国产替代的攻 坚周期。我国存储芯片市场规模持续攀升，但自给率偏低的结构性矛盾突出，为自主研发企业提供了突围空间。 英韧科技作为国内存储领域的标杆型企业，成立于2017年，自成立之初便专注于存储技术的自主研发与创新，核 心产品涵盖固态硬盘主控芯片、固态硬盘及各类存储系统解决方案，其发展轨迹折射出国内存储企业在技术突 破、产业链协同、市场拓展中的探索与破局，为行业国产化进程提供了重要参考。 全栈自研覆盖企业级到消费级市场 存储主控芯片，被誉为固态硬盘（SSD）的"大脑"，负责数据调度、纠错与寿命管理等核心任务，其性能直接决 定了存储产品的速度、稳定与可靠性。该领域长期被三星、美满电子等国际巨头把持，尤其在PCIe接口迭代中， 海外厂商始终占据先发优势。 作为数字信息存储的核心载体，存储芯片需兼顾容量、速度、稳定性与功耗平衡，研发覆盖芯片设计、晶圆制 造、封装测试等多环节，对企 ...

Core Viewpoint - The People's Bank of China (PBOC) is implementing significant liquidity injections through reverse repos to maintain a stable financial environment ahead of the Spring Festival, indicating a supportive monetary policy stance for economic recovery [1][3][4]. Group 1: Liquidity Operations - In February, the PBOC announced a 10 trillion yuan reverse repo operation scheduled for February 13, with a six-month term, to ensure ample liquidity in the banking system [1]. - The total mid-term liquidity maturing in February amounts to 15 trillion yuan, including 7 trillion yuan in three-month reverse repos, 5 trillion yuan in six-month reverse repos, and 3 trillion yuan in Medium-term Lending Facility (MLF) [1][2]. - The PBOC has already conducted an 8 trillion yuan three-month reverse repo operation on February 4, resulting in a net liquidity injection of 1 trillion yuan, leading to a total net injection of 6 trillion yuan for the month [2]. Group 2: Economic Context and Implications - Analysts suggest that the PBOC's actions are aimed at supporting key projects and maintaining economic momentum, especially with the early issuance of local government bonds and increased loan disbursements expected in the first quarter [3]. - The increase in reverse repo operations reflects a response to heightened liquidity demand due to seasonal factors like the Spring Festival and increased cash withdrawals [3][4]. - The PBOC's strategy indicates a continuation of a supportive monetary policy, with expectations of further liquidity support through MLF and government bond transactions in February [4]. Group 3: Policy Outlook - The recent increase in reverse repo net injections suggests a reduced likelihood of immediate interest rate cuts, as the PBOC is currently in an observation phase following a series of structural policy measures [5]. - Analysts believe that the substantial liquidity injections lessen the urgency for a comprehensive reserve requirement ratio (RRR) cut, although it remains a potential tool in the PBOC's policy arsenal [6].

蓝盾光电晚间公告，公司全资子公司蓝芯信息决定放弃就星思半导体新增注册资本461.3万元所享有的 优先认购权。交易完成后，星思半导体注册资本将增至2775.67万元，蓝芯信息持股比例由4.9533%降至 4.1301%。 ...

以下是第一财经对一些重要公告的汇总，供投资者参考。 【品大事】 ST新华锦：公司股票预计将自2026年2月26日起被上交所实施停牌 ST新华锦晚间公告，公司责令改正事项的期限将于2026年2月25日届满。截至本公告披露日，公司间接控股股东新华锦集团有限公司及其关联方累计归还占 用资金0元。公司如未在期限届满前完成整改，公司股票预计将自2026年2月26日起被上交所实施停牌，停牌期限不超过2个月。提醒投资者充分关注公司股 票停牌、被实施退市风险警示等退市相关风险。 江钨装备：筹划2026年度向特定对象发行A股股票事项 双良节能晚间公告，公司于2025年10月25日和2026年1月9日签订的3项海外订单总金额约170万欧元，约合人民币1392.3万元，占公司2024年度经审计营业收 入的0.11%，对公司经营业绩无重大影响。订单为高效换热器，用于SpaceX星舰发射基地扩建配套的燃料生产系统。公司为国际工业气体企业的燃料项目供 应换热器，间接参与相关商业航天项目，未直接与SpaceX合作。 鹏辉能源：拟在河南省正阳县投资21亿元建设120Ah电芯生产项目 鹏辉能源晚间公告，为进一步优化公司产能布局，增强公司业务的 ...