Core Viewpoint - The recent surge in the convertible bond market, particularly the strong performance of new bonds, is attributed to changes in market supply-demand dynamics, shifts in capital allocation preferences, and the unique characteristics of the new bonds [1][6]. Group 1: Performance of New Bonds - The new convertible bonds launched in January 2026 have shown remarkable performance, with an average first-day increase of 57.3% and a turnover rate exceeding 200% on some days [1][2]. - All new bonds listed in January maintained prices above 150 yuan, with the "Lianrui Convertible Bond" being a standout, doubling in price within three trading days and closing at 226.512 yuan on January 30 [3][4]. - The average conversion premium for these new bonds is notably high, with "Lianrui Convertible Bond" at 115.52% and "Jin 05 Convertible Bond" at 103.15%, indicating strong market enthusiasm [3][4]. Group 2: Market Dynamics - The convertible bond market is experiencing a supply shortage, with an estimated 1,600 billion yuan of bonds expected to exit the market in 2026, leading to a supply-demand imbalance [6]. - The low interest rate environment has increased demand for yield-enhancing assets, further supporting the convertible bond market's high valuation [7]. - New bonds are characterized by a lack of strong redemption pressure and good liquidity, which, combined with their association with technology and innovation sectors, enhances their appeal [7][8]. Group 3: Investment Focus - Investors are advised to focus on convertible bonds with strong fundamental support, particularly those in the technology and high-end manufacturing sectors, which align with current market investment themes [5][8]. - The overall market sentiment remains optimistic, but there is a caution regarding the high valuations of new bonds, as potential corrections in the stock market could impact both stock and bond valuations [8][9]. - Future supply changes are anticipated, with a projected issuance of around 600 billion yuan in convertible bonds for 2026, which will be critical in assessing the sustainability of current valuation levels [9].

Summary of Key Points Core Viewpoint - In February 2026, a total of 111 companies in the A-share market will face the unlocking of restricted shares, with a total unlocking volume of approximately 12.902 billion shares and an unlocking scale of 233.584 billion yuan, representing a month-on-month decrease of about 21.32% and a year-on-year decrease of about 50.63% [1][3]. Group 1: Unlocking Scale and Key Companies - The largest unlocking scale is attributed to Xinda Securities, with an unlocking market value exceeding 40 billion yuan [1][3]. - Five stocks will have an unlocking market value exceeding 10 billion yuan, with Xinda Securities, Hunan YN, and Huaxi Nonferrous Metals leading the list [3][4]. - Xinda Securities will unlock 2.5514 billion shares on February 2, with an unlocking market value of approximately 44.93 billion yuan, accounting for 78.67% of its total share capital [3][4]. Group 2: Industry Distribution - The industries with the highest unlocking market values are non-bank financials, electronics, and power equipment [1][9]. - In the non-bank financial sector, Xinda Securities has a significant unlocking scale, while in the electronics sector, Zhongwei Semiconductor has a notable unlocking scale [9][10]. Group 3: Additional Notable Unlockings - Hunan YN will unlock 374 million shares on February 9, with an unlocking market value of approximately 24.179 billion yuan, accounting for 49.13% of its total share capital [7][9]. - Huaxi Nonferrous Metals will have an unlocking volume of 357 million shares, representing 56.47% of its total share capital, with an unlocking market value of approximately 22.47 billion yuan [7][9]. - Honghai Technology will have its anniversary unlocking in February, with an unlocking volume of approximately 137 million shares and a market value of about 1.955 billion yuan [9][10].

温永豹：我们启动实施新一轮招商引资"三年行动"，先后引进亿达鸿综合制剂、显东药品加工、德润巨牧鸵鸟养殖深加工等项目，投资1.8亿元建设总占地 面积近500亩的生物医药产业园区，虎林医药企业由5家发展到26家，五年间翻了两番，获得"中国刺五加名城"殊荣；农产品就地加工转换率提升至69.6%。 同时，虎林因地制宜发展新质生产力，中国科学院科学家工作室、中国农业大学教授工作站相继落户，全省首家中药领域院士工作站正式授牌，珍宝岛药业 入选国家技术创新示范企业，虎林生物医药产业集群晋升省级中小企业特色产业集群，科技创新走在全省县域前列。 接下来，虎林将落实省新一轮重点产业链高质量发展行动，全力做强生物医药、绿色食品两大核心产业，重点实施"刺五加+"战略，支持珍宝岛药业、乌苏 里江制药等头部企业增型转产，鼓励全乐制药、亿达鸿药业等成长企业增量扩产，推进中鑫生物低分子精品肝素钠等新建项目早完工、早投产，实体化运 行"借澳出海"公司，加快虎林刺五加地理标志商标和地理标志保护产品申报进程，构建"医药+食品+保健+美妆+日用品"全维度产业生态。力争2030年刺五 加种植总量达到32万亩、加工企业发展到15家、产品突破60种、产业 ...

Group 1 - The core viewpoint emphasizes the strategic importance of Heilongjiang Province as a key node in the "China-Mongolia-Russia Economic Corridor," suggesting that policy guidance and resource integration can transform its geographical advantages into energy hub and industrial development advantages [1] - A proposal is made to highlight the strategic position of energy in the provincial "14th Five-Year Plan," advocating for the development of special plans to support enterprises at critical nodes such as cross-border logistics corridors and key industrial parks, including the establishment of multi-energy complementary comprehensive energy stations [5] - China Petroleum & Chemical Corporation (Sinopec) Heilongjiang Petroleum Branch is accelerating its transformation from a traditional oil supplier to a comprehensive energy service provider, embracing the new energy revolution and developing a charging and battery swap network [5] Group 2 - The rich ice and snow resources and renowned specialty agricultural products of Heilongjiang are highlighted, with suggestions for the government to establish a platform for regular "energy-industry" connections to support the development of ice and snow tourism and modern agriculture [5] - A recommendation is made to pilot the construction of comprehensive energy stations that integrate diesel, charging, agricultural supplies, and smart agriculture services in collaboration with agricultural groups, aiding the development of modern agriculture [5] - To ensure the healthy and orderly development of the refined oil market, a proposal is made to promote the construction of an integrated big data regulatory platform for the refined oil market in Heilongjiang, addressing issues of fragmented regulatory platforms and data barriers [6]

Core Viewpoint - The release of the ISO international standard for "Broken Wall Ganoderma Spore Powder" marks a significant advancement in the standardization of traditional Chinese medicine (TCM), promoting quality and international development in the industry [1][2][4]. Group 1: Standardization and Innovation - The ISO standard (ISO/TS 25006:2025) for "Broken Wall Ganoderma Spore Powder" will be implemented in July 2025, following previous standards for other TCM products [2]. - The standard establishes key parameters such as raw material sources, a minimum 95% breaking rate, and a multi-index quality control system, enhancing production technology standardization [4]. - Experts emphasize that TCM standardization is a process of deriving scientific rules from clinical practices to form internationally recognized standards [4]. Group 2: Economic Impact - The implementation of ISO standards has led to significant increases in international trade, with related products seeing trade growth of 284.5% and 37.5% for Ganoderma and Dendrobium, respectively [5]. - The standards have been adopted in 31 countries, including major markets like the US, Canada, Australia, and Germany, facilitating trade recognition [5]. Group 3: International Collaboration - Collaborations with international institutions, such as clinical research on TCM's anti-tumor effects and cardiovascular benefits, are enhancing the scientific basis for standardization [6]. - The Zhejiang provincial government plans to strengthen the internationalization of TCM standards, focusing on local medicinal materials and specialty TCM products [6]. Group 4: Future Directions - The establishment of a comprehensive standard system covering the entire industry chain, from cultivation to clinical evaluation, is seen as essential for enhancing the industry's competitiveness [7]. - The company aims to deepen international standard formulation and promote local medicinal materials globally, particularly in countries along the Belt and Road Initiative [9].

Core Viewpoint - The article highlights the strategic transformation of Shanghai Mingzhi Electric Co., Ltd. from a "China-leading" to a "global-leading" enterprise by establishing an overseas manufacturing base in Vietnam, optimizing the global supply chain [1] Group 1: Company Expansion and Challenges - Mingzhi Electric's overseas expansion began several years ago, driven by increasing international market competition and global customer demand, making the establishment of overseas production bases a necessity [4] - The company faces various challenges in cross-border investment compliance, efficient capital allocation, and building an overseas operational system [3][4] Group 2: Financial Institution's Role - Financial institutions are evolving from traditional fund providers to partners that accompany enterprises in their cross-border operations, offering comprehensive solutions rather than just transaction services [5][8] - China Construction Bank (CCB) has partnered with Mingzhi Electric, providing tailored services such as policy interpretation and local account setup to ensure smooth capital flow [5][6] Group 3: Local Insights and Global Network - CCB's approach combines global network capabilities with local market insights, addressing challenges posed by changing policies, such as Vietnam's foreign exchange management adjustments in 2023 [6] - The bank's global financial service center in Shanghai enhances its ability to provide integrated cross-border financial services, ensuring that enterprises can navigate local regulations effectively [6][7] Group 4: Systematic Financial Services - The case of Mingzhi Electric is representative of a broader trend where Chinese companies are shifting from product exports to more complex global operations, prompting financial institutions to deepen their service offerings [7] - CCB has launched the "Shan Jian Hang Yuan" cross-border financial service brand, aiming to create a comprehensive financial service ecosystem that supports enterprises throughout their global operations [7][8] Group 5: Future Outlook - The article emphasizes that Chinese enterprises' overseas ventures have entered a new phase, requiring financial services to adapt to a more systematic support model [8] - CCB aims to enhance its global service capabilities to support more enterprises in their international endeavors, contributing to the narrative of Chinese manufacturing on the world stage [8]

转自：新华财经 此次贷款落地，是建行上海市分行积极响应国家"美丽中国"建设与绿色金融政策导向的具体行动，分行 通过快速学习新标准、精准对接企业需求，完成从政策解读到贷款投放的全流程服务。这笔流向食用菌 产业的资金，最终效益将体现在土壤活力的保持、农业废弃物的循环利用以及生态农业模式的推广之 中。 未来，建行上海市分行将以此为契机，深化对相关国际国内标准的研究，不断完善评估方法、产品体系 和激励机制，拓展生物多样性金融应用场景，以更加多元化的金融工具支持更多生态友好型项目，与千 企万众携手共绘"青山绿水"新图景。（邓侃） 编辑：李一帆 1月28日，建行上海市分行落地首笔专项用于支持生物多样性保护的贷款，为上海永大菌业有限公司提 供1000万元信贷支持，标志着该行在绿色金融创新领域迈出重要一步。 据了解，该笔贷款严格依照中国人民银行《生物多样性金融目录（试用稿）》相关标准发放，资金将主 要用于企业有机农产品采购，对应目录中"有机、绿色等认证农业"类别，旨在通过金融手段促进农业生 态系统的多样性维护与可持续发展。 上海永大菌业是一家专注于食用菌研发、种植、加工与销售的全产业链企业。公司长期推行绿色栽培模 式，已取得 ...

1月31日，海信正式推出全新产品——海信璀璨大冻梨冰箱。新款冰箱旨在系统性解决中国家庭在食材冷冻存储中长 期面临的容积不足、冷冻效果差等核心痛点，将行业竞争从"容积参数"引向"用户体验"。 转自：新华财经 长期以来，冰箱冷冻空间小、食材堆积杂乱、大块肉类冻不透、化冻后口感劣化等问题，困扰着无数中国家庭。尽管 用户需求清晰，但受限于传统设计定式、对"总容积"这一市场显性指标的盲目追逐以及技术突破难度，行业整体解决 方案进展缓慢。 在整机606升容积内，海信璀璨大冻梨冰箱"腾挪"出267升的超大冷冻空间，相当于"一台冰箱加一台冷柜"的复合能 力，满足家庭大批量、长周期存储需求。为提升使用便利性，其还采用98厘米高腰线设计，并将冷冻空间科学划分 为"3+3+1"精储分区，配备可平放整条羊腿或整扇排骨MAX超大抽屉。 （海信璀璨大冻梨冰箱，海信冰箱供图） 海信璀璨大冻梨冰箱在细节上也有创新考量。该产品采用特种玻璃与创新SMI磁性复合工艺，实现了玻璃质感与磁吸 功能的结合，在满足家居美学质感需求的同时，也能稳固吸附各类冰箱贴，承载家庭生活美好记忆。 业内观察人士指出，海信璀璨大冻梨冰箱的推出，说明头部企业主动跳出同质化 ...

转自：新华财经 1月30日，第六届江苏省动力电池产业创新发展峰会暨常州市"百场千企"产业链融链强链对接活动在常州市金坛区举行。本次活动由江苏省工信厅指导、常 州市政府主办，新能源汽车、具身机器人、低空飞行器及动力电池产业链企业、研发机构参与，旨在推动跨域协同、科技创新、绿色低碳，助力江苏省动力 电池产业链进一步向高端化、智能化、绿色化升级。 江苏省工信厅二级巡视员卢载贵致辞说，具身机器人、低空飞行器等新兴产业与新能源汽车技术同源、链条相通。围绕构建"技术共生、产业共融"的生态格 局，应聚力打通新域共融的技术发展路线，协同研发高适配性的新型动力电池，以科技创新引领新质生产力发展，为推进中国式现代化江苏新实践积极贡献 力量。 在成果发布环节，江苏省动力及储能电池产业创新联盟发布《2025年度江苏省动力电池产业链创新产品成果回顾》《江苏省动力电池产业发展报告 （2025）》，全方位展示2025年江苏省动力电池产业链创新引领和产业升级成效。 中国生产力促进中心协会副理事长兼秘书长王羽作《基于低空飞行器、智能网联汽车、人形机器人的共性技术支撑、供应链体系构建及场景融合应用》主题 分享，深入解读"车—空—人"三大领域技术 ...

Group 1 - The private economy in Hainan Province is projected to have approximately 3.6 million entities by the end of 2025, accounting for over 97% of the total operating entities in the province [1] - Hainan Qinfeng Food Co., Ltd. has maintained a growth trend for over 10 years, with its products exported to over 60 countries and regions across six continents [1] - The company operates six fish fillet production lines, covering an area of 50,000 square meters, with an annual raw material processing capacity of 66,000 tons [1] - A new industrial park covering over 180 acres is under construction, which is expected to achieve an annual output value of 3.8 billion yuan and create over 2,000 jobs upon completion [1] Group 2 - Agricultural Bank of China Hainan Branch is addressing the financing challenges faced by private enterprises by innovating financial products such as "Technology E-loan" and "Innovation Points Loan" [1] - The bank aims to increase financial service supply, with a projected credit scale exceeding 100 billion yuan by the end of 2025, including over 30 billion yuan in loans to private enterprises and more than 1,900 private enterprise loan clients [1] Group 3 - China Mobile Hainan is actively empowering private enterprises through digital transformation by offering customized AI solutions for various industries [2] - Solutions include "Bright Kitchen AI Supervision" for regulatory compliance and "Safety Fire AI Application" for intelligent recognition in fire safety scenarios, aimed at reducing manual supervision costs and enhancing safety management [2] - The company is promoting applications such as "Smart Hotels," "Smart Shops," and "Smart Canteens" to better serve the digital transformation and cost reduction efforts of private enterprises [2]