2月13日电力设备板块整体下跌2.03%，大盘(上证指数跌1.26%)环境疲软加剧个股抛压。公司当前市盈 率(TTM)29.82倍虽低于行业平均，但市场对特高压建设进度及原材料成本波动的担忧仍存，导致资金 偏向谨慎。 以上内容基于公开资料整理，不构成投资建议。 资金面与技术面 2026年2月2日至13日区间股价涨幅达8.20%，期间多次出现主力资金净流出(如2月9日净流出426.75万 元)。2月13日股价下跌3.33%，当日换手率6.06%，MACD指标出现死叉(DIF下穿DEA)，且KDJ指标中J 线降至25.31，显示短期超买后的技术性回调。 行业板块情况 经济观察网大连电瓷（002606）(002606.SZ)近期在基本面有利好背景下出现股价调整，主要受短期市 场情绪、资金流向及技术面因素影响。具体分析如下： 公司基本面 公司于2026年2月6日公告子公司预中标国家电网项目1.19亿元(占2024年营收7.95%)，但市场更关注其 2025年前三季度归母净利润同比下降25.82%的业绩压力。尽管特高压订单充足，但利润下滑主因产线 改造导致产能阶段性下降及高毛利产品结构变化，削弱了利好对信心的提振。 ...

经济观察网近期和邦生物（603077）股价呈现震荡走势。2026年2月11日，公司股价盘中上涨2.04%至 2.50元/股，主力资金净流入227.97万元，但当日收盘价报2.47元，全日涨幅0.82%。截至2月13日收盘， 股价下跌2.86%至2.38元/股，成交额4.77亿元，换手率2.25%；近5日累计跌幅2.46%，但年初至今仍上 涨5.31%。技术面显示，当前股价处于20日布林带下轨附近(支撑位2.23元)，短期表现弱于大盘及行业指 数。 近期事件 2026年2月13日，公司公告拟以6615.04万元向关联方重庆和友购买6.5万吨纯碱，单价1017.70元/吨，交 易旨在优化供应链；过去12个月内同类关联交易累计9497.98万元，占净资产比例不足1%。 机构观点 机构最新舆情偏中性。根据2026年2月14日数据，机构评级中性占比100%，无明确利好或利空倾向；2 家机构预测公司2025年净利润同比增长6.85%，营收预计达129.15亿元。当前市场关注度一般，调研频 率较低，未出现显著目标价调整。 以上内容基于公开资料整理，不构成投资建议。 公司近期披露两项重要公告： 2026年2月12日，和邦生物 ...

经济观察网溢多利（300381）近7个交易日(截至2026年2月13日)股价呈现震荡走势，最新收盘价为6.77 元，单日下跌0.59%，成交额约3149万元，换手率0.94%。资金流向方面，2月13日主力资金净流出约 159万元，散户资金净流出约184万元，整体资金面偏谨慎。近5日累计跌幅为1.17%，区间振幅收窄， 当前股价处于20日均线(6.93元)下方，技术面短期压力位关注7.19元，支撑位参考6.67元。 机构最新调研显示，溢多利市场关注度一般，舆情中性，机构评级以中性为主(占比100%)。公司近期机 构调研次数行业排名靠前(38/504)，但盈利预测暂无显著调整。2025年业绩预告显示全年净亏损区间为 1300万-2600万元，主要受下游需求不足及非经常性损益拖累，但主营业务毛利率保持46.51%，财务结 构稳健(负债率8.95%)。中长期需关注其在生物酶制剂、半导体材料等新兴领域的业务拓展进展。 机构观点 以上内容基于公开资料整理，不构成投资建议。 ...

经济观察网乐歌股份（300729）近期涉及公司治理和资金安排，包括募投项目结项及资金用途调整、员 工持股计划延期等事项。 公司状况 在同一董事会会议上，公司同意将第一期员工持股计划存续期延长2年，至2028年3月11日。该计划持有 股份未出售或质押，延期已获持有人会议通过。 以上内容基于公开资料整理，不构成投资建议。 公司项目推进 乐歌股份于2025年12月30日召开第六届董事会第五次会议，审议通过将募投项目"美国佐治亚州Ellabell 海外仓项目"结项，并将节余募集资金3,367.47万元永久补充流动资金的议案。该项目已实施完毕并达到 预定可使用状态，节余资金源于建设成本控制及现金管理收益。该议案已获董事会通过，并提交公司 2026年第一次临时股东大会审议，股东大会于2026年1月15日召开，审议结果需以公告为准。 ...

战略推进 机构观点 2026年第一季度产品推出计划：里昂证券在2026年1月20日的研报中指出，公司计划在2026年第一季度 推出多元化产品，以支持中长期增长目标。 机构业绩预测：高盛在2026年2月5日的研报中预计，2025年至2027年，公司销售额和净利润复合年增长 率将分别达到23%和22%。申万宏源同期报告预测，2025年利润端增速约为35%。 经营状况 线上渠道表现：根据2026年2月5日的数据，毛戈平在2026年1月抖音美妆榜单中排名升至第4位，显示线 上势能增强。公司管理层此前预计2025年第四季度线上销售同比增长超40%。 经济观察网 毛戈平H股全流通获联交所批准，机构研报看好其业绩增长与线上渠道表现。 近期事件 H股全流通获批：2026年1月29日，公司获得联交所批准，允许2.28亿股H股上市及买卖，这一举措可能 提升股票流动性。该公告于2026年2月5日发布。 国际市场拓展：公司于2025年10月在香港海港城开设首家海外专柜，持续推进"光影美学"国际化战略。 公司状况 近期市场动态：2026年2月5日，毛戈平入选《2025胡润中国500强》，企业估值410亿元。此外，高盛于 同日将公司纳入 ...

Group 1 - The core announcement from Nairui Radar includes the release of 2,087,165 restricted shares (0.69% of total share capital) for circulation on March 2, 2026, with no objections from the sponsor, CITIC Securities [1] - The actual controller, Bao Xiaojun, and his concerted parties have renewed the "Concerted Action Agreement," extending its validity until February 28, 2029, to stabilize the company's control, which CITIC Securities believes will not lead to a change in the controlling shareholder [1] - The company held its 2026 annual meeting on February 9, 2026, where it launched its corporate IP image "Nairui Niu" and outlined plans to focus on expanding into new markets such as low-altitude economy and civil aviation in 2026 [1] Group 2 - Over the past 7 days (as of February 13, 2026), Nairui Radar's stock price fluctuated by 1.10%, with a range of 3.90%, reaching a high of 42.00 yuan on February 12 and a low of 40.40 yuan on the same day [2] - On February 11, there was a net outflow of 4.34 million yuan in main funds, causing the stock price to drop by 0.58% to 40.90 yuan; however, on February 13, the latest data showed a net inflow of 5.59 million yuan, with the stock closing at 41.45 yuan, a single-day decline of 0.67% and a trading volume of 133 million yuan [2] - The defense and military industry sector has been active, with the military index rising by 0.65% on February 13, driven by policies related to commercial aerospace and low-altitude economy [2]

Group 1: Stock Performance - The stock of Dongwei Semiconductor opened at 94.64 yuan, peaked at 100.88 yuan (an increase of 6.02%), but closed at 98.12 yuan, indicating a high volatility of 7.76% throughout the day [1] - From January 15 to February 13, the stock experienced a total fluctuation of 17.85%, with a single-day increase of 7.27% on February 12, leading some investors to lock in profits during the peak [1] Group 2: Industry Sector Situation - Despite strong capital expenditure expectations for AI infrastructure (with the four major CSP manufacturers expected to exceed 670 billion yuan in 2026), the semiconductor sector showed flat overall performance (semiconductor index change was 0.00%) [2] - Market funds are shifting between sub-sectors, with more attention on storage chips, which may have diverted short-term focus from power semiconductor stocks [2] Group 3: Company Fundamentals - Dongwei Semiconductor reported a 41.60% year-on-year revenue growth and a 58.46% increase in net profit for Q3 2025, but the cash flow situation raised market concerns with a negative cash flow of -436.59% [3] - On the day in question, there was a net inflow of 27.19 million yuan from institutional investors, while retail investors experienced a net outflow, reflecting market divergence regarding short-term earnings quality [3]

Recent Events - The company held its 33rd meeting of the 9th Board of Directors on February 13, 2026, to review a proposal for a loan restructuring, seeking up to 369 million yuan from Guangdong Nanhai Rural Commercial Bank for operational development, with guarantees from subsidiaries and actual controllers. This move is related to the ongoing pre-restructuring process, which has been extended twice, with the latest extension until January 11, 2026, but the transition to formal restructuring remains uncertain pending court decisions [2]. Company Status - The company is facing significant litigation pressure, with a total litigation amount of approximately 92.27 million yuan as of February 8, 2026, accounting for 8.78% of the latest audited net assets. This includes a contract dispute with Guangzhou Wanbo Jiacheng Venture Capital of 20.92 million yuan and a financial loan dispute with a bank of 44.96 million yuan, with some cases still unresolved, and the impact on profits is yet to be assessed [3]. Performance and Operations - The company expects a net loss attributable to shareholders of 635 million to 934 million yuan for the full year of 2025, primarily due to high financial expenses, asset impairments, and litigation costs. Given the continuous losses, there is a need to be cautious about the risk of delisting [4].

Core Viewpoint - Changhong Technology (300151) is experiencing fluctuations in financing and stock prices, with recent financial data indicating a decline in revenue and net profit, despite a recent uptick in stock performance [1][3]. Group 1: Financing and Stock Performance - As of February 11, 2026, the financing and securities balance for Changhong Technology was 539 million yuan, down 0.37% from the previous day, with a net sell of 1.9988 million yuan in financing and 200 shares in securities [1]. - On February 12, 2026, the stock price showed a slight increase of 0.41%, closing at 17.20 yuan, following a recent trend of price fluctuations [1]. - Over the past week (February 9 to 13, 2026), the stock price increased by 7.11%, with a daily high of 5.07% on February 9, closing at 17.00 yuan, and reaching 17.33 yuan on February 13, up 0.76% [2]. Group 2: Financial Performance - The financial report released on February 12, 2026, indicated that for the first nine months of 2025, Changhong Technology's revenue was 743 million yuan, a year-on-year decrease of 4.95%, while the net profit attributable to shareholders was 48.4626 million yuan, down 40.47% year-on-year [3]. - The main business segments include smart manufacturing products, accounting for 66.94%, and medical devices and consumables, accounting for 25.87% [3]. - Despite the recent stock price increase, the financial data suggests that the company's short-term performance is under pressure [3].

方跃/文 2025年，AI技术进展几乎以"日"为单位刷新着人们的认知。大模型、智能体、算力、数据中心、应用生态——每一个环节都在加速迭代与拓展。从全球范围 来看，OpenAI在企业市场暂时处于领跑地位，但Anthropic和Google等企业正在快速逼近。2026年，AI领域的竞争将不再仅仅是模型能力的排名变化，更是 认知方向、落地路径与组织能力的全方位比拼。 2025年的"祛魅"让市场认识到：热潮并不等同于价值，试点也不意味着能够规模化应用，模型能力更不能等同于组织能力。回顾过去一年的落地经验，生成 式AI的应用并未在所有企业中转化为更高的员工创造力。 进入2026年，真正的分水岭不在于"又推出了哪个更强的模型"，而在于AI能否真正开启"向人"与"向实"的进化。这里的"向"，既是方向，也是路径：能力向 更高阶迁移、分工向更合理重排、组织向新形态跃迁。但它们有着共同的底线——最终仍要以人为本，为人类服务。AI越强大，越需要将人置于中心位 置。 这一轮AI变革与过去的技术浪潮最大的不同在于，它不只是生产工具的迭代。生产力的提升不再仅仅是"让旧流程跑得更快、更高效"，而是彻底打破了生产 力三要素（劳动力、生产工具 ...