定向增发、可转债、配股等多元化再融资工具，是资本市场支持技术攻关与产业升级的重要抓手。近年 来，上市公司借助再融资加大核心技术研发、关键设备更新、产业链补链强链等关键领域投入，有效破 解了科创企业研发周期长、投入强度大、现金流压力高等共性问题，推动科技创新成果从"实验室"走 向"生产线"。 2月9日，沪深北交易所同步推出一揽子再融资优化举措，聚焦提升资本市场服务科技创新和新质生产力 发展的效能，通过优化审核效率、适配科创企业需求、简化申报流程、强化全程监管等多方面调整，引 导资本精准流向国家战略领域。 接受《证券日报》记者采访的专家表示，本次再融资优化以制度创新回应市场需求，标志着资本市场服 务科技创新进入更高效、更适配、更可持续的新阶段。未来，随着各项举措的逐步落地实施，沪深北交 易所将进一步发挥协同效应，持续完善再融资制度体系，让资本更好地成为科技创新的"孵化器"和"助 推器"，为科技自立自强与新质生产力发展提供更强有力的金融支撑。 以2025年为例，据Wind资讯数据统计，全年共有199家A股上市公司实施再融资，合计募集资金9508.65 亿元。其中，17家公司年内完成两次定向增发，补充了研发与产业发展 ...

住房公积金政策优化已为不少城市的多子女家庭购房提供了助力。例如，据长春市住房公积金管理中心 统计，长春市对多子女家庭给予贷款最高额度上浮40%的倾斜政策，截至2025年末已累计为284户多子 女家庭发放贷款3.08亿元。 "优化住房公积金政策，能将闲置低效的资金释放出来，不仅在提高首付能力、月供支付能力方面有意 义，还能发挥住房公积金贷款的低利率优势，支持新市民租房和买房，推动刚性住房需求释放。"广东 省住房政策研究中心首席研究员李宇嘉在接受《证券日报》记者采访时分析称，购房补贴通过一次性的 资金投放降低购房门槛，不仅能够使潜在的购房群体转化为现实的购房需求，还能助力新市民在城镇安 居。 对于各地调整和优化房地产政策的下一步方向，李宇嘉表示，各地应该梳理已经出台的政策，打通居民 购房、换房交易过程中的堵点，重点疏通二手房"以旧换新"流程，提高二手房供给效率。同时，要将短 期政策和长期改革结合起来：一方面通过短期纾困来稳定市场，另一方面推进新型城镇化，稳步推进基 本公共服务均等化、租购同权等长期举措，提高城市对人口的吸引能力。 包括重庆在内，2026年以来，已有多个城市调整优化房地产政策，通过发放购房补贴、调整 ...

Group 1 - Ping An Bank plans to redeem 200 million preferred shares on March 9, 2026, with a total scale of 20 billion yuan [1] - The bank's capital adequacy ratio, tier 1 capital adequacy ratio, and core tier 1 capital adequacy ratio as of September 2025 are 13.48%, 11.06%, and 9.52%, respectively, all exceeding regulatory requirements [1] - The redemption of preferred shares is part of a broader trend among listed banks, driven by changes in interest rate environments and capital tool management [2] Group 2 - The redemption of preferred shares is seen as a financial optimization strategy to lower financing costs by replacing higher dividend rate preferred shares with lower-cost perpetual bonds [2][4] - The preferred share market may enter a contraction phase, leading to reduced market size and liquidity, which could affect investors' access to high-quality, high-yield assets [3] - Institutional funds are expected to shift towards perpetual bonds and other alternative capital instruments due to the shrinking supply of preferred shares [4]

在债券市场方面，北交所强化债券市场支持科技创新功能，落实建设债券市场"科技板"决策部署，出台 支持发行科技创新债券、服务新质生产力的审核政策；落地全国首单中小微支持可续期公募债、"两区 建设"贴标债等特色品种债券。 截至目前，2025年以来，北交所服务国债发行5.61万亿元，约占同期国债发行总额的三分之一，历史累 计发行国债已达14.12万亿元；服务地方政府债发行3881.93亿元，服务省市从年初9个增加至14个，累计 发行地方政府债达1.12万亿元；强化债券市场支持科技创新功能，2025年发行信用债7只，募集金额52 亿元。 中信证券首席经济学家明明对《证券日报》记者表示，北交所通过"股债联动"构建了服务创新型中小企 业的"一站式"融资平台，股权与债券融资可形成有效互补与接力，尤其有利于支持科技创新与产业发 展。 市场活力迸发 近年来，北交所市场活力与韧性持续提升。截至今年1月30日，2025年以来，北交所日均成交金额约270 亿元，较2024年增长约120%；北证50指数累计上涨约50%，市场总市值超9300亿元。 2025年以来，北京证券交易所（以下简称"北交所"）立足"服务创新型中小企业主阵地"定位， ...

本报记者 舒娅疆 零碳园区建设正成为推动区域乃至国家低碳转型的关键路径与重要方式。陈启章表示，宜宾临港经济技术开发区东部产业 园成功入选国家级零碳园区建设名单，成为四川省唯一的首批建设单位，这标志着四川在推动产业绿色转型、探索园区低碳发 展新路径上迈出了重要一步。 在陈启章看来，发展零碳园区和零碳工厂对地方和企业的意义深远。在推进四川"双碳"目标落地与本土产业体系升级的进 程中，中自科技将致力于扮演三个角色：一是零碳解决方案的提供商，为四川零碳园区、绿色工厂、低碳交通等场景提供涵盖 减污、节能、降碳等多个维度的系统性解决方案；二是绿色产业链的参与者与赋能者，积极对接四川省在清洁能源、先进材料 等优势产业和新兴领域低碳转型升级的需求，提供高性能产品与技术支撑；三是"川企创新共同体"的推动者，深化与本土高 校、科研院所及产业链伙伴的协同创新，共同攻关关键共性技术，推动创新成果在四川优先转化和产业化，吸引并带动产业链 相关企业在川集聚，为四川经济发展贡献力量。 在2026年四川省两会的会场内外，"绿色低碳""零碳园区""零碳工厂""零碳转型"成为热议关键词。四川省政协委员、中自 科技股份有限公司（以下简称"中自科技 ...

Core Viewpoint - Lichong Group has transformed from a small family workshop into a leading global player in the aluminum alloy industry, achieving over 30 billion yuan in revenue through a focus on innovation and a complete industrial chain [1][2][8]. Group 1: Company History and Development - Founded in the early 1980s in Baoding, Hebei, Lichong Group started as a family-run workshop focused on waste aluminum recycling and processing [2][3]. - The company capitalized on the booming demand for aluminum during China's economic reforms, achieving a net profit of over 9 million yuan in 1988 as aluminum prices surged from 7,000 yuan/ton to over 18,000 yuan/ton [2][3]. - Lichong Group avoided diversification and focused on the aluminum alloy sector, which allowed for deep exploration and innovation in production processes [3]. Group 2: Technological Innovation - The company has invested heavily in R&D to overcome initial technological barriers, leading to the development of high-purity aluminum-silicon-magnesium-titanium alloys, breaking foreign monopolies [4]. - Lichong Group's latest innovation, a heat treatment-free aluminum alloy, enhances manufacturing efficiency and reduces costs, marking a significant technological breakthrough [4][6]. - The company has established a comprehensive technical system covering alloy materials, wheel manufacturing, and new material applications, with a total of 984 patents, including 181 invention patents [6]. Group 3: Global Expansion and Market Strategy - Lichong Group has built overseas production bases in Thailand and Mexico, creating a supply chain network across Southeast Asia, Europe, and America, which helps mitigate trade barriers and respond quickly to international orders [7][8]. - The company emphasizes a complete industrial chain from waste aluminum recycling to new energy materials, achieving a resource closed loop that significantly reduces energy consumption and carbon emissions [7]. - Lichong Group's products span various sectors, including automotive, rail transportation, robotics, aerospace, and high-end manufacturing, enhancing its resilience against market fluctuations [7][8]. Group 4: Future Outlook - The company plans to continue focusing on aluminum alloy new materials and automotive lightweight strategies while exploring emerging fields such as humanoid robots and solid-state batteries [5][8]. - Lichong Group aims to strengthen its position in both traditional and new industries, striving for high-quality development in the aluminum alloy sector [8].

Group 1 - The Ministry of Industry and Information Technology, along with four other departments, issued an implementation opinion to enhance the capabilities of the information and communication industry to support low-altitude infrastructure development, aiming for a nationwide ground mobile communication network coverage rate of no less than 90% by 2027 [1] - The opinion emphasizes the continuous improvement of technical foundation, industrial supply capacity, network support capability, and security assurance capability in the information and communication sector [1] - The document outlines the goal of developing at least 10 information infrastructure standards and creating typical low-altitude application scenarios in urban governance, logistics, and cultural tourism by 2027 [1] Group 2 - China Mobile is enhancing new information infrastructure construction, aiming to build an integrated low-altitude smart network system, with applications already in 160 cities and covering over 1,000 kilometers of flight routes [2] - China Telecom is focusing on key technologies for low-altitude connectivity and has made significant progress in establishing a robust low-altitude network foundation, actively participating in standard-setting and policy formulation [2][3] - China Tower is leveraging its extensive site resources to support low-altitude economic development, integrating various intelligent sensing devices into its digital towers to meet the demands of the low-altitude economy [3] Group 3 - The recent acceleration of policy implementation is expected to strengthen the institutional support system for low-altitude economic development, with more supporting policies anticipated to be introduced [4] - The low-altitude economic development strategy is becoming clearer, with ongoing national policy support expected to continue, paving the way for the industry [4]

本报记者 王僖 2月10日晚间，东阿阿胶股份有限公司（以下简称"东阿阿胶"）发布公告称，公司拟投资14.85亿元自有资金建设健康消费 品产业园项目，其中固定资产投资14.21亿元，铺底流动资金0.64亿元。该举措标志着东阿阿胶在转型升级中迈出关键一步，进 一步彰显其深耕大健康产业的战略决心。 公告显示，该项目将打造集药食同源食品、保健品、功能性食品等健康消费品的生产与配套仓储物流、质检中心、新品孵 化中心、电商分拣及药品成品仓储于一体的综合性基地。 养生年轻化 滋补类中药行业正迎来黄金发展期，年轻一代正迅速成为滋补类中药的消费主力。《天猫保健滋补行业消费场景与人群洞 察》显示，从2020年到2024年，保健滋补行业人均消费提升31%，成交人数提升34%，这一趋势体现了健康养生市场的年轻化 转变。 前述东阿阿胶负责人表示，东阿阿胶健康消费品产业园项目正是看准了银发经济这一历史性机遇，项目建成后将为老年人 提供更多高品质、个性化的健康消费品。 夯实发展基础 东阿阿胶在滋补产业领域拥有深厚的全产业链布局，为健康消费品产业园项目奠定了坚实基础。据前述东阿阿胶负责人介 绍，目前该公司已突破阿胶口服含化技术，研发出阿胶速 ...

Group 1 - Jin Hui Mining Co., Ltd. plans to acquire 100% equity of Huixian Fusheng Mining Development Co., Ltd. for 210 million yuan, marking a strategic move into the gold mining sector [1] - Zijin Mining Group has set ambitious gold production targets, aiming for 105 tons in 2026 and 130 to 140 tons by 2028, reflecting a strong focus on expanding its gold resource portfolio [1][2] - The overall performance of mining companies is expected to improve due to rising prices of gold and copper, alongside increased production capacity [1] Group 2 - The gold sector has become the most favored area for investment among mining companies, with Chinese firms' overseas gold acquisitions nearing 60 billion yuan since the second half of 2025 [2] - Zijin Mining's subsidiary plans a significant acquisition of Canadian United Gold for 28 billion yuan, which would expand its asset base to 12 countries and significantly increase gold production [2] - Other mining leaders, such as Luoyang Molybdenum and Shengda Resources, are also actively acquiring high-quality gold mining assets to bolster their production capabilities [2] Group 3 - The global mining industry is entering a "gold-led, multi-metal collaborative" growth cycle, with mergers and acquisitions and capacity releases becoming key industry themes [4] - The current wave of gold acquisitions is characterized by accelerated transaction speeds and strategic geographic or process synergies among acquired assets [4] - The importance of strategic metals like copper and lithium is expected to rise, driving the mining industry towards higher-end and greener transformations [5]

展望未来，杨海平认为，2026年，在低利率环境和股市结构性行情背景下，理财市场或呈现以下特点和 趋势：其一，由于当前的货币政策走向及宏观调控导向，固收类资产的收益率受到压制，以固收类产品 为基本盘的银行理财产品，其收益率整体上仍将呈现承压状态；其二，理财公司积极升级投研体系，以 此为基础探索增加权益类理财产品供给，或者在"固收+"及混合类理财产品项下，增配权益类资产、其 他大类资产，以此改善理财产品的收益率表现；其三，理财业务的收入结构将发生变化，理财公司将更 加注重提升服务，与服务内容、服务质量相挂钩的收入占比将提升；其四，理财市场整体规模将稳中有 升。 2026年首月，银行理财市场告别了对规模"开门红"的单一关注。华西证券（002926）发布研究称，今年 1月份最后一周(1月26日至1月30日)，在回表的驱动下，银行理财规模再度承压，为33.18万亿元，环比 下降1788亿元。从1月全月来看，在去年12月份理财规模回表5100亿元背景下，今年1月份银行理财规模 并未如市场预期那样回升，而是继续呈缩量态势，月度环比降幅为1142亿元。此外，回溯近四年(2022 年至2025年)1月份银行理财规模变动情况，除 ...