Core Viewpoint - Regulatory authorities have imposed strict measures on D Fund Company for engaging in marketing collaborations with unqualified influencers, leading to a suspension of public fund product registrations and accountability for key personnel [1][3]. Group 1: Regulatory Actions - The regulatory report indicates that D Fund Company was involved in a marketing partnership with an unqualified internet influencer, paying substantial advertising fees to promote a specific fund product, which misled investors [3]. - The company failed to adequately disclose risks to investors and did not manage investor suitability properly, violating relevant regulations [3]. - As a result, the regulatory authorities mandated corrective actions and suspended the acceptance of public fund product registrations for D Fund Company [3]. Group 2: Other Violations - The report highlights that some fund sales institutions and unlicensed third-party platforms have reintroduced "real-time fund valuation" features, which could mislead investors and dilute fund product returns [5][6]. - These features include rankings based on daily subscription amounts and displays of user holdings and returns, which may lead to investor complaints and disputes [5][6]. Group 3: Regulatory Requirements - The report emphasizes the need for fund companies and sales institutions to strengthen investor suitability management, ensuring that appropriate products are sold to suitable investors to prevent risk mismatches [8]. - Fund companies and sales institutions are strictly prohibited from collaborating with unqualified internet influencers for any form of fund sales or promotional activities [8]. - Fund sales institutions and third-party platforms must conduct self-inspections and remove misleading features such as "real-time fund valuation," "increased positions ranking," and "actual trading ranking" [9].

Core Viewpoint - The A-share market experienced fluctuations on January 29, with mixed performance across the three major indices and a total market turnover of 3.26 trillion yuan, indicating some capital withdrawal from the market [1] Group 1: ETF Fund Flows - The total net outflow from stock ETFs (including cross-border ETFs) was approximately 298.64 billion yuan on January 29, with significant outflows from broad-based ETFs [2][5] - Six ETFs had a net outflow exceeding 50 billion yuan, with one ETF alone seeing a net outflow of over 100 billion yuan [1][3] - Since the beginning of 2026, stock ETFs have faced cumulative net outflows exceeding 750 billion yuan due to severe "blood loss" in broad-based ETFs [1] Group 2: Sector Performance - Despite the overall net outflow, 61 stock ETFs recorded net inflows exceeding 1 billion yuan, with the gold and non-ferrous metal sectors leading the inflows [2] - The industry-themed ETFs and commodity ETFs saw net inflows of 221.41 billion yuan and 53.9 billion yuan, respectively, while broad-based ETFs had a net outflow of 520.18 billion yuan [2] - Specific ETFs such as the SGE Gold 9999 index saw a net inflow of 40.52 billion yuan, while the CSI 300 index ETF had the highest net outflow at 316.28 billion yuan [2] Group 3: Fund Management Insights - Leading fund companies like E Fund and Huaxia Fund have seen significant inflows in their ETF products, with E Fund's Sci-Tech Chip ETF and Gold ETF recording net inflows of 9.36 billion yuan and 3.55 billion yuan, respectively [5] - Huaxia Fund's non-ferrous metal ETF and gold stock ETF also saw substantial inflows of 14.97 billion yuan and 13.35 billion yuan [5] Group 4: Market Outlook - Analysts expect the A-share and Hong Kong markets to maintain high trading activity levels, driven by a stable macroeconomic policy and positive expectations for economic indicators [6] - Despite uncertainties in global geopolitical dynamics and domestic economic challenges, the valuation levels of A-share and Hong Kong equity assets remain attractive compared to major global indices [6]

【导读】今日上午A股三大指数涨跌不一，CPO、农牧饲渔、旅游酒店板块大涨，资源股重挫，个股掀"跌停潮" A股风云突变。 1月30日早盘，A股市场迎来大变化。三大指数上演"过山车"行情，A股多个指数开盘集体杀跌，科创综指盘中跌超2.5%，上证指数、深证成指、创业板指 均一度跌超2%。随后多个指数涨跌出现分化，创业板指翻红。 风云突变 个股跌多涨少，全市场共有3872只个股下跌，仅有1494只个股上涨，27只个股涨停。成交额方面，沪深两市半日成交额为1.93万亿元，较上个交易日缩量 836亿元。 贵金属板块领跌 今天上午，资源股重挫，有色板块大跌8%，贵金属概念股板块领跌，相关个股纷纷跌停。 十余只个股跌停。其中，晓程科技录得20%跌停，山东黄金（600547）、中金黄金（600489）、山金国际（000975）、赤峰黄金、四川黄金（001337）、 贵研铂业（600459）、金徽股份（603132）、招金黄金（000506）、恒邦股份（002237）、湖南白银（002716）、华锡有色（600301）均录得10cm跌 停，紫金矿业（601899）跌超8%。 1月最后一个交易日的早盘，A股主要指数涨跌不一。 热门 ...

【导读】中泰证券（600918）启动重大组织架构调整，核心业务条线"分公司化" 1月29日晚间，中泰证券发布一则公告，公司董事会审议通过了《关于公司组织架构调整的议案》。 根据公告，公司拟设立承销保荐分公司、自营分公司、研究咨询分公司三家专业分公司，并同步撤销原有的投资银行业务委员会、金融市场委员会、研究 院及其下设一级部门。此举意味着中泰证券核心业务条线正从总部职能部门体系转向独立运营的"分公司化"管理模式。时隔五年，中泰证券对业务架构再 度深度重塑。 对于此次调整的动因，中泰证券在公告中表述为"根据业务发展需要"。业内人士认为，将业务条线转变为独立分公司，意味着这些板块将获得更大的经营 自主权，有利于建立更为市场化和灵活的薪酬激励与考核机制。 中泰证券是山东省一家老牌券商，其前身为齐鲁经纪，成立于2001年5月15日。2004年12月，齐鲁经纪更名为齐鲁证券。2015年9月，齐鲁证券完成股份改 制，变更为中泰证券。 2021年初，中泰证券实施了自2007年整合天同证券以来力度最大的一次改革，将总部53个一级部整合压缩到41个，对75名干部进行了调整。坚持薪酬与考 核目标市场化"双对标"，在薪酬体系改革的基 ...

【导读】中泰证券启动重大组织架构调整，核心业务条线"分公司化" 1月29日晚间，中泰证券发布一则公告，公司董事会审议通过了《关于公司组织架构调整的议案》。 根据公告，公司拟设立承销保荐分公司、自营分公司、研究咨询分公司三家专业分公司，并同步撤销原有的投资银行业务委员会、金融市场委员会、研究 院及其下设一级部门。此举意味着中泰证券核心业务条线正从总部职能部门体系转向独立运营的"分公司化"管理模式。时隔五年，中泰证券对业务架构再 度深度重塑。 投行、自营、研究三条线成立分公司 公告显示，中泰证券计划设立的承销保荐分公司、自营分公司、研究咨询分公司（最终名称以监管核准为准），将分别对应原有的投行、自营和研究三大 核心业务板块。待三家分公司正式取得经营证券期货业务许可证后，公司现有的投资银行业务委员会、金融市场委员会、研究院及其下设一级部门将被撤 销。 净利润预计同比增加40%到60% 同日，中泰证券还发布2025年度业绩预增公告。报告期内，预计公司实现归属于母公司所有者的净利润约13.12亿元到15亿元，同比增加40%到60%。 谈及业绩预增的原因，中泰证券表示，2025年，资本市场活跃度回升，公司积极把握市场机遇 ...

【导读】*ST赛隆开盘再次跌停，年报审计机构以任务繁重为由辞任 1月30日，*ST赛隆（002898）开盘即封死跌停板。截至发稿，*ST赛隆股价报11.37元/股，跌幅达5.01%，总市值为20.01亿元。 1月29日晚间，*ST赛隆发布公告称，北京国府嘉盈会计师事务所（特殊普通合伙）（以下简称国府嘉盈）辞任公司2025年度财报审计机 构。 按照相关要求，A股公司披露2025年年报的截止时间是2026年4月30日。 《深圳证券交易所股票上市规则（2025年修订）》显示，上市公司应当合理安排新聘或续聘会计师事务所的时间，不得因未能及时聘请会 计师事务所影响定期报告的按期披露。 审计机构任职不足半个月辞任 辞任理由与前任审计机构相同 公告显示，1月27日，*ST赛隆收到国府嘉盈发来的《辞任函》。《辞任函》显示，自即日起，国府嘉盈辞任*ST赛隆2025年度财报审计机 构。 公告显示，国府嘉盈成立于2006年3月16日，2024年度末的合伙人、注册会计师数量分别为34人、162人，2024年上市公司审计客户达7家。 此前，*ST赛隆决定聘任国府嘉盈担任其2025年度财报审计机构，原因是*ST赛隆的前任审计机构辞任。 ...

Core Viewpoint - The regulatory authorities have intensified scrutiny on fund companies, particularly focusing on D Fund Company for engaging in marketing collaborations with unqualified influencers, leading to corrective measures and accountability for responsible personnel [1][2]. Group 1: Regulatory Actions - The regulatory report indicates that D Fund Company faced a significant increase in daily subscription volume exceeding 10 billion, raising concerns about potential violations in sales practices [2]. - D Fund Company was found to have collaborated with unqualified internet influencers, paying substantial advertising fees to promote its products, which misled investors regarding risk levels [2]. - The regulatory authorities have mandated D Fund Company to rectify its practices and have suspended the acceptance of new public fund product registrations [2]. Group 2: Violations and Concerns - The report highlights that some fund sales institutions and unlicensed third-party platforms have resumed offering "real-time fund valuation" features, which could mislead investors and dilute fund product returns [3][4]. - The emergence of features like "increased investment rankings" and "real account rankings" on these platforms has raised further concerns about investor misguidance [3]. Group 3: Regulatory Requirements - The report emphasizes the need for fund companies and sales institutions to enhance investor suitability management, ensuring that appropriate products are sold to suitable investors to prevent risk mismatches [5]. - Fund companies and sales institutions are strictly prohibited from collaborating with unqualified internet influencers for any form of fund sales or promotional activities [5]. - Fund sales institutions and third-party platforms are required to conduct self-inspections and remove misleading features such as "real-time fund valuation" and "investment rankings" [6].

【导读】贵金属现货、期货合约集体大跳水 刚刚，贵金属集体崩了！ 1月30日，现货黄金盘中急速跳水，最低跌至5111.96美元/盎司，跌幅近5%。 现货白银同步大跌，最低价跌至107.947美元/盎司，跌幅近7%。 | 名称 | 现价 | 淵鉄 | 涨跌幅 | | --- | --- | --- | --- | | 沪银2602 | 29345 | -1535 | -4.97% | | 沪银2603 | 29400 | -1392 | -4.52% | | 沪银2604 | 28801 | -934 | -3.14% | | 治−第2605 | 28523 | -856 | -2.91% | | 沖縄2606 | 28243 | -1071 | -3.65% | | 名称 | 现价 | 涨跌 | 涨跌幅 | | 辑2606 | 640.00 | | -74.85 -10.47% | | 辑2608 | 640.05 | | -73.90 -10.35% | | 铂2610 | | 633.00 - -82.65 -11.55% | | | 铂2612 | | 640.00 - -78.85 -10.97% | ...

Group 1 - ST Yingfituo experienced a significant stock price fluctuation, initially dropping to 2.19 CNY per share before rising to 2.43 CNY, marking a 5.19% increase with a trading range of 10.39% and a total market value of 2.913 billion CNY [1] - Following three consecutive days of decline, investors reacted positively to the stock's recovery, expressing surprise and excitement over the price rebound [2] - ST Yingfituo announced a projected net loss of 240 million to 310 million CNY for 2025, with expected net assets of -65 million to -130 million CNY by the end of 2025, indicating a potential delisting risk due to negative net assets [2] Group 2 - ST Yanshi also saw a similar stock price surge, reaching 2.18 CNY per share, following a significant price fluctuation [3] - The company projected an annual revenue of less than 300 million CNY for 2025, with both pre-tax and post-tax net profits expected to be negative, leading to a potential termination of its listing due to financial issues [3]

【导读】ST英飞拓、*ST岩石走出"地天板" 中国基金报记者 晨曦 市场震荡之际，又见"地天板"！ 1月30日，ST英飞拓在竞价阶段再度跌停，开盘报2.19元/股。随后股价直线拉升，迅速拉出"地天板"的 成绩。截至发稿，ST英飞拓报2.43元/股，涨幅为5.19%；当日振幅为10.39%，总市值为29.13亿元。 连跌3日后，对于今天的"开板放人"，股民们一片欢腾，大呼"想不到今天会开板""做梦开板了"。 此前，ST英飞拓于1月26日晚间披露2025年业绩预告，2025年预计净亏损2.4亿元至3.1亿元，亏损金额 有所缩减。同时，ST英飞拓预计，截至2025年末归母净资产为-0.65亿元至-1.3亿元，符合出现"最近一 个会计年度经审计的期末净资产为负值"的情形，公司股票交易将在2025年年度报告披露后被实施退市 风险警示，即股票简称变为*ST英飞拓。 此后，ST英飞拓股价持续走低，1月27日—1月29日连续3个交易日跌停。1月29日晚间，ST英飞拓发布 股票交易异常波动公告称，公司前期披露的信息不存在需要更正、补充之处，不存在应披露而未披露信 息。 | 最高:2.43 | 今开: 2.19 | 涨停:2.4 ...