中国人民银行会同国家发展改革委、金融监管总局制定的《人民币现金收付及服务规定》自2026年2月1 日起施行。《规定》要求，采取人工方式收款、提供面对面服务以及线上预约、交易，线下完成服务或 货物交付，且具备当面收款条件的，收费单位、经营主体应支持现金支付，保持合理的零钱备付；采取 无人值守、机具设备等自助服务模式，以及采用"一卡通"结算、进行统一管理的园区、厂区、景区、学 校等场所，经营主体应在醒目位置标识支付方式、现金收取转换方式及服务联系电话。采取转换手段收 取现金，不得收取手续费或设置限制条件，造成转换不便。 2月，一批新规将施行，哪些新规将影响你我生活？ 采取转换手段收取现金不得收取手续费或设置限制条件 金融机构应当将适当的产品通过适当的渠道销售给适合的客户 国家金融监督管理总局发布的《金融机构产品适当性管理办法》将于2026年2月1日起施行。《办法》要 求，金融机构应当将适当的产品通过适当的渠道销售给适合的客户。《办法》明确适当性规则，根据不 同产品属性特征提出针对性要求。对于投资型产品，要求划分产品风险等级、进行投资者风险承受能力 评估，将投资者分为专业投资者与普通投资者，进行差异化的适当性管理。 ...

1月30日，A股三大指数早盘涨跌不一，截至午间休市，沪指跌1.19%，深证成指跌0.96%，创业板指涨 0.8%。沪深北三市半日成交19514亿元，较上日缩量836亿元。 盘面上，亚太交易时段国际金银价跳水，黄金股、有色资源股大幅回调，中金黄金等多股跌停。另一方 面，粮食、农业股逆势走强，登海种业等股封板。算力硬件股盘中同样拉升，天孚通信（300394）大涨 超10%创出历史新高，中际旭创、新易盛涨超4%。 行业层面，近期，海外推理和训练算力需求旺盛，亚马逊云和谷歌云双双涨价。推理侧， MoltBot（原 ClawdBot）、Claude Code等Agent产品加速落地，对于云计算资源的需求显著增加，2026年年初以来 Token调用量已经连续2-3周高速增长。训练侧，Grok-5、Veo4等模型仍然在持续迭代，工业界持续探索 Scaling上限，从而支撑训练算力需求。 中信证券研报认为，尽管当前AI应用大规模商业化落地能见度仍然不足，但展望未来3-6个月，随着推 理端AI应用落地的密集催化叠加训练端模型的持续迭代，预判算力需求仍有望进一步上行，一旦美股 财报季算力需求得到确认，前期压制算力板块情绪与估值的 ...

三是宏观层面的宽松预期为板块反弹带来了一定的想象空间。机构认为，市场已在博弈美联储未来的量 化宽松（QE）路径。一旦美联储开启QE，中国货币政策空间或将打开，有望推动实体经济资产负债表 修复与居民财富效应提升，从而驱动消费升级，开启白酒新一轮周期。 1月29日，白酒板块一根久违的长阳线，不仅击穿了箱体，更是点燃了市场情绪。这究竟是跌深反弹的 昙花一现，还是周期拐点的信号初现？且看机构近期研判。 1月29日，白酒板块在午后迎来久违的强劲拉升，申万白酒指数涨超5%，多只个股表现亮眼。机构分 析，这或是行业短期景气信号、低估值与宏观宽松预期等多重因素共振的结果。 一是春节动销"小阳春"初现，高端白酒批价已构筑"价格底"。随着2026年春节备货进入冲刺阶段，白酒 终端动销已渐次启动。太平洋证券研报认为，当前飞天茅台散瓶批价稳中有升，维持在1560元左右，五 粮液普五批价也趋于稳定。与此同时，茅台通过"i茅台"及专卖店团购拓宽消费群体，已初步交易出价 格底部，且传统渠道动销量未见明显下滑，预计全渠道有小幅增长。 二是板块估值处于历史极低分位，为反弹提供了较高的安全边际与赔率。华金证券研报数据显示，白酒 板块估值分位数低 ...

2026年开年以来，海外资金大幅加仓中国资产，景顺中国科技ETF、中国海外互联网ETF、锐联中国科技创新ETF等多只在美上市的中国股票ETF规模持 续攀升。多家知名外资机构在近日举办的2026年投资策略会上表示，尽管经历了2025年的强劲上涨，中国股票估值仍具吸引力，上行趋势有望进一步延 续。 中国资产迎显著资金净流入 今年1月，中国股票资产迎来海外资金的大手笔加仓，其中科技类资产尤其受到青睐。 高盛最新发布的全球资金流向报告显示，在截至1月14日的近一个月内，全球资金净流入股票基金1055.18亿美元，其中中国内地股票基金获得166.59亿美 元净流入。 与此同时，在美上市的多只中国股票ETF规模也呈现显著增长。富途数据显示，截至1月28日，景顺中国科技ETF资产规模为31.82亿美元，相较于去年底 的28.18亿美元增长近13%。该ETF前十大重仓股包括腾讯控股、百度集团、华虹半导体、地平线机器人、商汤-W等多只科技股龙头。 | 产规模 | | | --- | --- | | 次 | E | | 日期 | 资产规模(美元) | 变动比例 | | --- | --- | --- | | 2026/01/28 ...

Group 1 - The Ministry of Transport will hold a press conference on January 30, 2026, to discuss the economic operation of the transportation sector in 2025 [2] - The People's Bank of China reported that the weighted average interest rate for newly issued commercial personal housing loans in Q4 2025 was 3.06% [4] - The Industrial and Information Technology Ministry is drafting a water management regulation for industrial enterprises, emphasizing strict water management for large-scale users [4] Group 2 - The State Council has issued a plan to accelerate the cultivation of new growth points in service consumption, focusing on travel and residence services [6] - The total scale of the Kunshan Artificial Intelligence Industry Fund, launched on January 29, 2026, is 5 billion yuan, with an initial scale of 2 billion yuan [4] - The commercial space industry in China is set to upgrade with the development of reusable rockets and heavy-lift launch vehicles, addressing the demand for satellite deployment [9] Group 3 - Beijing's humanoid robot innovation center has launched a testing platform, which is expected to enhance the production and sales of humanoid robots [10] - Companies like Siling Zhidrive and Jinwo Co. are positioned to benefit from the growth in the humanoid robot sector due to their manufacturing capabilities [10] - Foton Motor expects a net profit of approximately 1.33 billion yuan for 2025, a year-on-year increase of about 1551% [13] Group 4 - Century Huatong anticipates a net profit of 5.55 billion to 6.98 billion yuan for 2025, representing a year-on-year growth of 357.47% to 475.34% [15] - Shenghe Resources expects a net profit of 790 million to 910 million yuan for 2025, an increase of 281.28% to 339.20% year-on-year [17] - China Shipbuilding Industry expects a net profit of 7 billion to 8.4 billion yuan for 2025, reflecting a year-on-year increase of approximately 65.89% to 99.07% [19]

Core Viewpoint - The company continues to provide guarantees for its wholly-owned subsidiary, Shanghai Xingyi International Trade Co., Ltd., to support its business development needs, with a guarantee amount not exceeding 195 million yuan [3][14]. Group 1: Board Meeting Details - The board meeting was held on January 29, 2026, with all 7 members present [2]. - The meeting was chaired by Chairman Zhu Yong and complied with relevant laws and regulations [2][3]. Group 2: Guarantee Proposal - The subsidiary, Shanghai Xingyi, applied for a credit line of 150 million yuan from Zheshang Bank, and the company will continue to provide a guarantee for this amount [3][9]. - The guarantee will cover a maximum amount of 195 million yuan and is valid for three years from the expiration of the main contract [3][11]. Group 3: Decision and Voting Results - The proposal to continue the guarantee was approved unanimously with 7 votes in favor, 0 against, and 0 abstentions [5][14]. - This guarantee does not require approval from the shareholders' meeting [4][9]. Group 4: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary for the subsidiary's business development and aligns with the company's overall interests and strategic goals [14]. - The company maintains effective management over the subsidiary's operations, ensuring controllable risk [14]. Group 5: Cumulative Guarantee Amount - As of the announcement date, the total amount of guarantees provided by the company and its subsidiaries is 499 million yuan, accounting for 6.65% of the latest audited net assets [15].

Core Viewpoint - The company, Huafeng Power Co., Ltd., anticipates a significant decline in net profit for the year 2025, projecting a decrease of 57.19% to 65.35% compared to the previous year [2][4]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025 [3]. - The estimated net profit attributable to the parent company's owners is projected to be between 25.5 million yuan and 31.5 million yuan, a decrease of 4.2088 million yuan to 4.8088 million yuan from the previous year [4]. - The estimated net profit after deducting non-recurring gains and losses is expected to be between 21.5 million yuan and 27.5 million yuan, reflecting a reduction of 4.07187 million yuan to 4.67187 million yuan compared to the previous year [4]. Group 2: Previous Year’s Performance - In the previous year, the total profit was 79.1924 million yuan, with a net profit attributable to the parent company's owners of 73.588 million yuan [5]. - The net profit after deducting non-recurring gains and losses was 68.2187 million yuan [5]. - The earnings per share for the previous year were 0.43 yuan [6]. Group 3: Reasons for Performance Decline - The decline in performance is primarily due to changes in demand in the heavy truck market, leading to a significant drop in component revenue. The insufficient demand for traditional diesel heavy trucks and the lack of layout in the new energy heavy truck component business contributed to this decline [7]. - The operational revenue from the company's subsidiary in India has decreased due to strategic adjustments by a key client and changes in visa policies, which hindered business communication and expansion [7]. - There has been an increase in credit impairment losses related to accounts receivable compared to the previous year [8]. - A reduction in sales orders, lower capacity utilization, and increased unit manufacturing costs have also impacted performance [9].

Core Viewpoint - Zhejiang Dechuang Environmental Technology Co., Ltd. is forecasting a significant decline in net profit for the year 2025, projecting a loss of approximately 28 million yuan, which represents a 222.46% decrease compared to the previous year [2][4]. Group 1: Performance Forecast - The company expects to achieve a net profit attributable to shareholders of approximately -28 million yuan for the fiscal year 2025, a decrease of 50.87 million yuan from the previous year [2][4]. - The projected net profit, excluding non-recurring gains and losses, is expected to be around -38 million yuan, reflecting a decrease of 44.12 million yuan, or 721.31%, compared to the previous year [2][4]. Group 2: Previous Year’s Performance - In the previous year, the total profit was 21.68 million yuan, with a net profit attributable to shareholders of 22.87 million yuan, and a net profit excluding non-recurring gains and losses of 6.12 million yuan [6]. Group 3: Reasons for Performance Decline - The absence of share-based payment reversal fees in the current reporting period, which amounted to 15.97 million yuan in 2024, is a contributing factor to the projected loss [7]. - The company has incurred significant foreign exchange losses due to the depreciation of the US dollar and Indian rupee against the Chinese yuan, impacting profits by approximately -16 million yuan [7]. - Investment losses from the associate company, Zhejiang Tianchuang Environmental Technology Co., Ltd., due to poor operational performance, are expected to affect profits by about -15 million yuan [7]. - An increase in accounts receivable due to business growth has led to higher provisions for bad debts, resulting in credit impairment losses impacting profits by approximately -18 million yuan [7].

Core Viewpoint - The company, Jiangsu Hongtian Technology Co., Ltd., anticipates a significant decline in net profit for the year 2025, projecting a profit of between 11.5 million to 17.25 million yuan, which represents a decrease of over 50% compared to the previous year [2][4]. Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025 [3]. - The estimated net profit attributable to the parent company is projected to be between 11.5 million and 17.25 million yuan, a decrease of 90.17% to 85.26% compared to the previous year's net profit of 116.99 million yuan [4][6]. - The estimated net profit after deducting non-recurring gains and losses is expected to be between -4.1 million and -2.05 million yuan, reflecting a decrease of 105.27% to 102.64% from the previous year's figure of 77.73 million yuan [4][6]. Reasons for Profit Decline - The decline in net profit is attributed to several factors: - A decrease in revenue recognition due to delays in the recovery of the equipment industry, which has lagged behind the recovery of the downstream electrolytic copper foil manufacturers [8]. - The company has made provisions for asset impairments based on prudence, further reducing profit levels [8]. - Increased R&D expenditures in the optical equipment sector, with R&D expenses amounting to 22.98 million yuan compared to 12.22 million yuan in the previous year, resulting in a profit reduction of approximately 10.76 million yuan [8][9]. - Non-operating gains and losses have also impacted profits, with government subsidies received decreasing from 29.14 million yuan in the previous year to 17.30 million yuan, leading to a profit reduction of about 1.18 million yuan [10].

Core Viewpoint - The company has approved a guarantee for its wholly-owned subsidiary, Qingdao Senqilin International Trade Co., Ltd., amounting to 50 million RMB as part of a broader authorization for guarantees totaling 250 million RMB for the year 2026 [2][4]. Group 1: Guarantee Overview - The company will provide a total guarantee amount of 250 million RMB for its subsidiaries, with an authorization period of 12 months from the date of shareholder approval [2]. - The specific guarantee for Qingdao Senqilin International Trade Co., Ltd. is set at 5 million RMB, approved during the fourth board meeting and the first extraordinary shareholders' meeting of 2026 [2][4]. Group 2: Financial Data and Risk Assessment - As of the announcement date, the company's total external guarantee balance is 27.39 million RMB, which represents 2.03% of the company's audited net assets for 2024 [4]. - There are no overdue guarantees or guarantees involving litigation, and the company has not provided guarantees for shareholders, actual controllers, or related parties outside the consolidated financial statements [4]. Group 3: Board's Opinion - The board believes that providing this guarantee will support the subsidiary's operational funding needs and enhance its operational capabilities, while the company maintains effective control over the subsidiary's financial risks [4].