经济观察网 根据2026年2月13日的市场数据，联美控股（600167）（600167.SH）收盘价报6.80元，当 日下跌1.45%，创下自2025年12月中旬以来的股价新低（较2026年1月26日高点7.73元累计回落约 12%）。其股价走弱主要受以下因素影响： 业绩经营情况 营收连续下滑：2025年前三季度公司营业收入为21.56亿元，同比下降6.19%，延续了2024年以来的收缩 趋势（2024年营收同比降幅为0.51%）。 盈利质量承压：尽管前三季度归母净利润同比增长6.88%至5.43亿元，但扣非净利润同比下降8.15%至 4.63亿元，且经营活动现金流净额为-3.34亿元，同比进一步恶化。 低流动性放大波动：近一周日均成交额不足5000万元，换手率均低于0.4%，低流动性环境下资金小幅 流出易加剧股价下行。 公司估值 均线系统空头排列：股价已跌破所有关键均线（5日、10日、20日均线分别位于6.90元、6.92元、7.10 元），MACD柱状图转负至-0.022，KDJ指标中K线仅12.56，处于超卖区间但动能不足。 估值高于行业水平：当前市盈率（TTM）为22.17倍，高于电力行业平均水平（约 ...

Core Viewpoint - Wuhan Holdings (600168) has experienced a stock price decline of 2.85% over the last five trading days, underperforming the market and industry averages [1] Group 1: Stock Performance - The stock closed at 5.11 yuan on February 13, with a single-day drop of 0.58% and a trading volume of 31.6 million yuan [1] - Technical indicators show a negative MACD, KDJ in the oversold region, with resistance at 5.37 yuan and support at 5.13 yuan [1] - On February 14, there was a net outflow of 271,200 yuan from main funds, while retail investor activity remained high [1] Group 2: Financial Performance - According to the Q3 2025 report, the company's main revenue was 3.037 billion yuan, reflecting a year-on-year growth of 6.45% [2] - The net profit attributable to shareholders was 82.929 million yuan, up 14.1% year-on-year, while the net profit excluding non-recurring items was 60.979 million yuan, showing a significant increase of 33.96% [2] - The company's return on equity is 1.55%, indicating a mid-tier ranking in profitability within the environmental governance industry [2] Group 3: Institutional Insights - Market attention towards the company is moderate, with a neutral sentiment in recent public opinion [3] - The frequency of institutional research is low, and the fund holding ratio is only 0.31% [3] - There have been no recent adjustments in target prices or ratings from brokerage reports [3]

Core Viewpoint - The company is facing a lawsuit related to its subsidiary Shanghai Xiangyi Pawn, which involves a dispute over pawn business amounting to over 31 million yuan, potentially impacting its 2025 performance [1][2]. Recent Events - On February 5, 2026, the company announced that its subsidiary Shanghai Xiangyi Pawn has filed a lawsuit due to a pawn business dispute, with the amount in question being 31 million yuan in principal and penalties. The case has been accepted by the Shanghai Changning District People's Court on February 2, 2026. The company indicated that this overdue project may negatively affect its 2025 performance, although the current market value of pledged stocks can cover the overdue amount [2]. Financial Report Analysis - On February 1, 2026, the company released a performance forecast for 2025, expecting a net profit attributable to shareholders of 74.5 million to 85 million yuan, representing a year-on-year growth of 40% to 60%. The net profit excluding non-recurring items is projected to be between 69 million and 79 million yuan, with the same growth rate. The growth in performance is primarily attributed to a more than 40% increase in revenue from financing leasing and effective recovery of non-performing projects [3]. Stock Performance - Over the past seven trading days (as of February 13, 2026), the company's stock price has experienced a volatile decline, with a range of 4.23% and a latest closing price of 9.64 yuan, reflecting a cumulative drop of 2.43% over five days. In terms of margin trading, on February 10, the company saw a financing purchase of 13.37 million yuan and a repayment of 16.5 million yuan, resulting in a net sell of 3.12 million yuan. The margin trading balance stands at 338 million yuan, down 0.98% from the previous day. Additionally, on February 13, there was a net inflow of 8.64 million yuan from major funds [4]. Institutional Viewpoints - As of February 14, 2026, market sentiment regarding the company is neutral, with low frequency of institutional research and no significant changes in ratings. The fund holding ratio is only 0.03%, indicating general market attention is moderate [5].

机构观点 国信证券2月2日发布的石化化工行业研报指出，2026年地缘风险叠加OPEC+减产预期，布伦特油价中 枢预计维持在55-65美元/桶，建议关注炼油炼化板块供给侧优化机会。最新市场观点(截至2月14日)显 示，机构对华锦股份评级偏中性，盈利预测方面，8家机构平均预计2025年净利润亏损18.03亿元，但 2027年有望扭亏为盈。 以上内容基于公开资料整理，不构成投资建议。 经济观察网近7天，华锦股份（000059）主要热点包括中东地缘政治风险对油价的潜在影响及公司股东 结构变化。2026年2月11日，金十数据报道指出，中东冲突升级可能引发油价大幅飙升情景，如伊朗关 闭霍尔木兹海峡或打击伊拉克石油设施，将冲击全球石油供应(该地区供应全球约三分之一石油)，对石 油化工行业构成外部风险。2026年2月13日，公司披露截至2月10日股东总数为40,814户，较1月30日减 少1,391户(减幅3.3%)，反映股权集中度小幅提升。 股票近期走势 华锦股份股价在近7天(2月7日至2月13日)呈现震荡走势。2月13日收盘价5.83元，单日下跌2.18%，区间 最高价为2月11日的6.10元，最低价为2月10日的5.8 ...

经济观察网人民同泰（600829）(600829.SH)于2026年2月13日收盘价10.69元，下跌1.02%，盘中最低触 及10.66元，跌破60日均线(11.89元)，创60日新低(前次低点为2025年12月16日的11.24元)。当日成交额 6991万元，换手率1.12%，主力资金净流出372.38万元，连续多日呈现净流出态势。近20日累计跌幅 3.69%，弱于医药商业板块(-2.54%)及上证指数(-1.26%)。 2月13日主力资金净流出372.38万元(占总成交额5.33%)，近5日累计净流出态势延续。 当日医药商业板块整体主力净流出1.84亿元，板块资金面偏弱放大个股抛压。 公司估值 股价跌破60日均线后，MACD柱状图转负至-0.18，KDJ指标中J线降至-4.44，呈现超卖信号。 布林带下轨支撑位下移至10.37元，若失守可能引发进一步技术性抛压。 医药商业板块当日下跌0.89%，受集采深化、医保回款周期延长等行业共性因素影响。 业绩经营情况 2025年三季报显示，公司前三季度归母净利润1.12亿元，同比下降45.69%；第三季度单季净利润 3929.73万元，同比下滑44.51%。盈利下 ...

Group 1 - The core point of the article is that Lao Feng Xiang has appointed young actor Ding Yuxi as its global brand ambassador, which has led to significant sales growth despite fluctuations in international gold prices [1] - On the day of the announcement, total sales across all channels exceeded 75 million yuan, and by February 4, sales of Ding Yuxi's series reached 609 million yuan [1] - The company is accelerating its international expansion strategy, with plans to open stores in Southeast Asia and explore markets in the Middle East and North America [1] Group 2 - Lao Feng Xiang's stock price has shown volatility, closing at 44.28 yuan on February 13, with a daily decline of 0.18% and a cumulative drop of 1.12% over the past five days [2] - The stock is currently near the lower band of the 20-day Bollinger Bands at 42.35 yuan, with a MACD indicator showing weakness, but the dividend yield is 4.63%, above the industry average [2] - The jewelry sector has seen an overall decline of 1.11%, and the broader market index has also performed weakly, with Lao Feng Xiang's stock price remaining relatively stable compared to the industry [2] Group 3 - For the third quarter of 2025, Lao Feng Xiang reported a revenue increase of 16.03% year-on-year to 14.646 billion yuan, but net profit fell by 41.61% to 217 million yuan, with a gross margin of 7.01% [3] - The latest comprehensive financial indicators show a net profit of 1.438 billion yuan, ranking first in the jewelry industry, with a return on equity (ROE) of 11.15%, surpassing the industry average [3] - Despite short-term profit pressures, the brand's value was recognized by international institutions in 2025, ranking 38th in the global apparel brand value list [3]

经济观察网茂业商业（600828）(600828.SH)在2025年业绩预亏的背景下出现股价异动，主要受业绩风 险释放、前期炒作资金退潮及行业基本面承压等多重因素影响。 截至2月13日，股价跌破布林带中轨(6.686元)，MACD柱状图转负(-0.173)，KDJ指标中J值降至-10.169， 呈现超卖状态，但均线系统空头排列，短期技术面偏弱。 未来发展 茂业商业股价异动是业绩风险兑现、资金面退潮与行业疲软共振的结果。公司需关注资产减值测试的最 终结果、消费复苏进展及债务结构优化情况。 以上内容基于公开资料整理，不构成投资建议。 主力资金大幅流出：2026年2月13日单日主力资金净流出4618.26万元，占总成交额10.91%，而散户资金 净流入5059.02万元，反映短期炒作资金撤离。前期异常波动后的回调：2026年1月30日至2月2日，公司 股价因市场情绪过热连续涨停，动态市盈率一度达225.36倍，显著高于行业平均的54.96倍。此后股价逐 步回调，截至2月13日，5日累计跌幅达15.41%。 行业政策与环境 板块整体承压：2月13日一般零售板块下跌0.77%，茂业商业领跌，板块主力资金净流出6.85亿 ...

Policy Situation - The stock price of Chengjian Development (600266.SH) reached a daily limit increase of 10.09%, closing at 6.0 yuan on February 3, 2026, driven by the advancement of Shanghai's affordable rental housing pilot policy [1] - The initiation of second-hand housing acquisition plans in Pudong, Xuhui, and Jing'an districts injects positive sentiment into the real estate sector, with potential for nationwide policy expansion impacting the industry [1] Financial Situation - On the same day, the main funds showed a net inflow of 126 million yuan, but institutional seats exhibited net selling, indicating a divergence between retail and institutional investors [2] - This capital competition may increase stock price volatility, necessitating attention to future capital flow changes [2] Performance and Operations - For the first three quarters of 2025, the company reported revenue of 19.311 billion yuan, a year-on-year increase of 64.2%, and a net profit of 765 million yuan, up 40.24% year-on-year [3] - However, the full-year performance forecast indicates a potential loss of between 284 million to 423 million yuan, compared to a loss of 951 million yuan in the same period last year, primarily due to inventory impairment [3] Strategic Progress - The company focuses on its core real estate development business and is optimizing its assets, such as the planned transfer of a 9.24% stake in Beike Construction Group for a listing price of 103 million yuan in January 2026 [4] - Such actions may affect the company's resource allocation and financial status [4] Technical Situation - The stock price has recently found support above the 60-day moving average (5.3 yuan), but there is strong resistance in the 7.5 yuan range [5] - The ability to maintain key price levels may indicate the short-term trend direction [5]

近期股价震荡下行：截至2026年2月13日收盘，金杯汽车报4.65元，当日微涨0.43%，但近5日累计下跌 2.11%，弱于大盘及汽车板块指数。成交额5285万元，换手率0.87%，技术面显示股价处于布林带下轨 附近，短期支撑位4.51元。 经济观察网金杯汽车（600609）于2026年2月13日发布公告，公司作为有限合伙人参与设立的沈阳汽车 产业投资基金合伙企业已完成工商变更登记和基金业协会备案。该基金总规模8亿元，公司认缴出资2.4 亿元，占比30%，旨在通过投资获取项目资源，但存在投资周期长、流动性低等风险。此事件可能对公 司长期战略布局产生积极影响，但短期财务影响有限。 财报分析 根据2026年2月13日最新行情数据，金杯汽车2025年财务表现承压：总营收33.19亿元，同比下滑 3.15%；净利润1.804亿元，同比下降38.17%；毛利率14.38%，净利率8.59%，负债率55%。业绩下滑主 要受行业需求波动影响，需关注后续盈利修复情况。 股票近期走势 机构观点 机构对金杯汽车关注度较低，当前评级以中性为主。4家机构预测2025年净利润约3.9亿元，2026年净利 润约4.33亿元，主要驱动因素 ...

Group 1: Financial Performance - The company expects to turn a profit in 2025, with a net profit of approximately 51.23 million yuan, driven by a rebound in the price of its core product, pentose, and optimized production plans [1] - For the first three quarters of 2025, the company reported revenue of 762 million yuan, a year-on-year decrease of 6.07%, but achieved a net profit of 45.11 million yuan, indicating a turnaround [4] - The third quarter of 2025 saw a year-on-year revenue growth of 5.84% and a significant increase in net profit [4] Group 2: Stock Performance - On February 11, 2026, the company experienced unusual trading activity, including a rapid rebound and large buy transactions, with a turnover rate of 7.88% [2] - As of February 13, 2026, the stock price increased by 2.37%, although there was a net outflow of main funds, indicating short-term market sentiment fluctuations [2] Group 3: Shareholder Information - As of September 30, 2025, Hong Kong Central Clearing Limited became the sixth largest circulating shareholder, holding 8.1622 million shares, indicating increased foreign interest [3] - The number of shareholders as of January 30, 2026, reached 146,800, an increase of 27.78% from the previous period [3]