同源康医药是一家专注于肿瘤创新药物研发的生物医药公司。由吴豫生于2017年11月发起创办，其现任 公司董事长、总裁，拥有超20年医药行业从业经验，曾任职于美国跨国药企先灵葆雅新药研发中心，具 备深厚的新药研发与项目管理能力。公司于2024年8月登陆港交所，开启研发与商业化协同发展新阶 段，始终致力于通过自主研发与全球合作，为患者提供突破性治疗方案。目前已有多个创新项目处于临 床或临床前开发阶段，形成了丰富的产品管线布局。 同源康医药近日迎来发展里程碑。公司宣布，其自主研发的针对非小细胞肺癌（NSCLC）脑转移的甲 磺酸艾多替尼片（TY-9591）新药上市申请（NDA）已获得国家药监局药审中心受理。 该药作为首个针对肺癌脑转移的新一代EGFR-TKI抑制剂，凭借差异化优势备受市场关注。公司管线布 局及差异化价值传递，也成为投资者聚焦的核心。 截至2月6日收盘，同源康医药股价为12.9港元/股，市值为49亿港元。 纳入优先审评阶段 产品上市进程提速 据介绍，甲磺酸艾多替尼片是已上市同类药物奥希替尼的氘代产品，通过技术改良，可减少药物有毒代 谢物AZ5104的产生，这一技术优化使得甲磺酸艾多替尼片能够以160mg的 ...

农历腊月二十的水贝国际珠宝交易中心一楼，消费者人头攒动，店员喜庆的红色着装与金饰柜台泛出的 暖光交相辉映，浓浓的年味儿扑面而来。 春节临近，作为全国黄金饰品集散地之一的深圳水贝黄金市场迎来了最忙碌的时节。中国证券报记者近 日调研发现，在近段时间黄金价格走强的背景下，来水贝市场里的深圳水贝国际珠宝交易中心和深圳水 贝万山珠宝商业中心购买各种金饰的消费者络绎不绝。在多元化需求的带动下，商户及相关产业链上的 公司力求在产品设计、渠道建设、服务体验等方面创新求变。 客流量成倍增加 编者按 春节将至，年味渐浓，本报今起推出"新春走基层"系列报道。中国证券报记者将分赴大江南北，深入繁 华都市的产业腹地、静谧乡村的田间地头，捕捉大城小镇升腾的烟火气，倾听普通人的梦想，记录他们 在岁序更新中的奋进与期待，用心感知中国经济生机勃勃的脉动。 "这几天，金价稍有回落，加上假期临近，客流量明显增多。"水贝国际珠宝交易中心一家档口的老板缪 先生表示，自己从业12年来，今年春节假期前的黄金行情波动比较大。一方面，国际金价连创新高，消 费者对黄金饰品的关注度空前，客流量成倍增加，销售额创下新高；另一方面，由于金价的波动，他的 加工厂在购买 ...

Core Viewpoint - Liaoning Province is implementing a "Capital Market Enhancement Project" to strengthen and optimize its capital market, addressing new demands for comprehensive revitalization and development [1] Group 1: Capital Market Development - The "2026 Capital Market Liaoning Action" event successfully took place, marking the beginning of capital market development in Liaoning for the 14th Five-Year Plan period [2] - Liaoning has a solid industrial foundation and is focusing on upgrading four trillion-yuan industrial bases, promoting traditional industries' digital transformation, and developing strategic emerging industries [2][3] - The province has seen significant growth in direct financing, with a 41.3% year-on-year increase in 2025, marking the highest growth rate in a decade [3] Group 2: Innovation and Financial Products - Various innovative financial products have been launched in Liaoning, including the first public REITs and QFLP fund in Northeast China, and a significant increase in financing through technology innovation bonds [3] - The province's capital market is gradually recovering, with a notable increase in the number of IPO applications and bond market financing [3] Group 3: Long-term Development Mechanism - Liaoning is establishing a long-term development mechanism for its capital market, focusing on nurturing high-quality listed companies and expanding bond financing [4][5] - The province has a reserve of 508 potential listed companies and aims to enhance their compliance and operational capabilities [5] Group 4: Addressing Shortcomings - Despite progress, Liaoning's capital market remains undercapitalized compared to its economic scale, and there are ongoing issues with market order violations [6] - The province is taking measures to optimize the financial ecosystem, including stricter regulations against financial misconduct and enhancing support for potential listed companies [6] Group 5: Future Initiatives - In 2023, Liaoning will implement an enterprise listing action plan, focusing on coordinated provincial efforts and precise services to boost the capital market's contribution to high-quality economic development [7]

国家外汇管理局2月7日发布的数据显示，截至2026年1月末，我国外汇储备规模为33991亿美元，较 2025年12月末上升412亿美元，升幅为1.23%。 国家外汇局表示，2026年1月，受主要经济体财政政策、货币政策及预期等因素影响，美元指数下 跌，全球主要金融资产价格总体上涨。汇率折算和资产价格变化等因素综合作用下，当月外汇储备规模 上升。 外储规模适度充裕 中银证券全球首席经济学家管涛分析，2026年1月，我国外汇储备规模连续第六个月增加，增幅创 2024年1月以来新高。当月，受美国经济基本面变化等因素影响，美元指数走势一波三折，连续第三个 月走弱，累计下跌1.4%至97.0。同期，全球主要金融资产价格总体上涨。 "截至2026年1月末，我国外汇储备规模已连续六个月处于3.3万亿美元之上，创2015年12月以来最 高。这背后主要是受2025年以来美元指数大幅下降，全球主要股指上涨，以及美债收益率有所下行、美 债价格走高等因素的影响。"东方金诚首席宏观分析师王青说。 国家外汇局表示，我国经济运行稳中有进，发展韧性进一步彰显，为外汇储备规模保持基本稳定提 供支撑。 按不同标准测算，我国当前逾3万亿美元的外储 ...

日前，辽宁省地方金融管理局副局长战巍在接受中国证券报记者采访时表示，面对全面振兴发展新要 求、资本市场发展新形势、各方发展新期待，将深入实施"资本市场提升工程"，针对辽宁实际采取更有 针对性的举措，全面提升整体效能，做强做优资本市场"辽宁板块"。 优势显著成果丰硕 "2026年资本市场辽宁行"活动日前成功举行。这场高规格、大规模的金融专题活动举办时间适逢立春节 气，万物勃发，汇聚三大证券交易所分管负责人、全省上市公司及上市后备企业负责人、各地市相关负 责人，拉开了工业大省辽宁"十五五"开局之年资本市场发展大幕，为做强做优资本市场"辽宁板块"破题 蓄势。 辽宁发展基础扎实、工业底蕴深厚，转型升级优势大、动能强、后劲足。"辽宁产业基础、创新态势、 市场空间与资本市场发展契合度高，老工业基地振兴发展需要资本市场强力助力。"战巍说。 当下，辽宁正推动4个万亿级产业基地提质升级，推进传统产业"智改数转"，加快打造"2211"产业体 系，在集成电路装备、工业母机、机器人、生物医药、新能源、航空航天、低空经济等战略性新兴产业 和未来产业上全面布局、加快成势。 "我们拥有丰富的科教资源、金融资源，能为各类企业发展提供重要的创 ...

Core Viewpoint - As of January 2026, China's foreign exchange reserves reached $339.91 billion, marking an increase of $41.2 billion or 1.23% from December 2025, driven by factors such as changes in major economies' fiscal and monetary policies and a decline in the US dollar index [1][2]. Group 1: Foreign Exchange Reserves - China's foreign exchange reserves have increased for six consecutive months, reaching the highest level since December 2015, primarily due to a significant decline in the US dollar index and rising global stock indices [2]. - The US dollar index fell by 1.4% to 97.0 in January 2026, contributing to the overall increase in foreign exchange reserves [2]. - The current foreign exchange reserves, exceeding $3 trillion, are considered adequately sufficient, providing support for maintaining the RMB exchange rate at a reasonable equilibrium level [2]. Group 2: Gold Reserves - As of January 2026, China's gold reserves stood at 7.419 million ounces, with an increase of 40,000 ounces, marking the 15th consecutive month of gold accumulation by the People's Bank of China [3]. - The strategy of diversifying international reserves and increasing gold holdings is expected to continue, enhancing the credibility of the sovereign currency and supporting the cautious internationalization of the RMB [3].

Core Insights - A total of 123 companies listed on the Beijing Stock Exchange have disclosed their performance forecasts for 2025, showing significant performance differentiation [1] - Among these, 40 companies are expected to have positive performance, with 24 forecasting growth, 13 turning losses into profits, and 3 showing slight increases [1] - Companies demonstrating strong resilience in development attribute their success to technological innovation, market expansion, and operational optimization [1] Performance Highlights - Twelve companies, including Hongyu Packaging and Huiwei Intelligent, are expected to see net profit growth exceeding 100% in 2025, driven by enhanced core competitiveness and industry development benefits [2] - Hongyu Packaging anticipates a net profit of 17 million to 22 million, representing a year-on-year increase of 357.91% to 492.59%, due to optimized customer and product structures and improved operational efficiency [2] - Haineng Technology expects a net profit of 41 million to 44 million, with a growth rate of 213.65% to 236.61%, benefiting from industry demand recovery and continuous investment in high-end product development [2] Turnaround Companies - Among the 13 companies that have turned losses into profits, Lierda and Chunguang Intelligent have implemented targeted operational strategies to achieve this transition [4] - Lierda forecasts a net profit of 35 million to 50 million, recovering from a loss of 109 million the previous year, driven by R&D investments and improved sales in its IoT solutions [4] - Shibibai's turnaround aligns with industry trends, expecting a net profit of 50 million to 60 million, benefiting from increased demand for its composite materials [4] Strategies for Recovery - Some companies are proactively addressing performance pressures through increased R&D investment, business structure optimization, and market channel expansion [6] - Weibo Hydraulic and Kerun Intelligent are focusing on market expansion and internal operational optimization to counteract the impact of rising raw material prices [7] - Companies like Naconor and Beiyikang are adjusting their strategies to improve profitability amid industry cycles and changing market conditions [7]

东证融汇资管基于持有人利益为先的原则，将东证融汇鑫享30天滚动持有中短债、东证融汇禧悦90天滚 动转至东财基金旗下，两只债券型产品将分别以东财鑫享30天滚动持有中短债、东财禧悦90天滚动持有 中短债的"新身份"重新启航。两只产品的原基金经理应洁茜、郑铮同步加盟东财基金，从本质上保持产 品投资的延续性，最大程度保护投资者利益。截至2025年三季度末，两只产品合计规模达90亿元以上。 谈及这次"跨界合作"，东证融汇资管表示，主要是基于固收投研及信息系统建设等能力考量，最终与东 财基金达成合作，选择其作为这两只重要债券型产品的管理承接方。 □本报记者 王鹤静 根据《证券公司大集合资产管理业务适用〈关于规范金融机构资产管理业务的指导意见〉操作指引》要 求，券商资管大集合产品改造为公募基金产品已接近尾声。近期，东证融汇资管携手东财基金，顺利推 动两只重磅债券型产品公募化转型落地。 两只产品的原基金经理应洁茜、郑铮同步加盟东财基金，将继续为两只产品的投资管理保驾护航。日 前，应洁茜、郑铮在接受中国证券报记者专访时表示，从券商资管大集合产品转型为公募基金后，两只 产品的投资管理风格依然以追求稳健的持有体验为目标，同时将更加 ...

近期，汇丰晋信基金、鑫元基金、光大保德信基金、摩根资产管理、瑞士百达资产管理等多家资管 机构对2026年的权益市场进行了展望。 有机构表示，企业业绩修复弹性或成为2026年的亮点。尽管全球宏观波动率上升，但国内尾部风险 收敛与股债性价比指标进入合理区间，使得中国权益资产吸引力凸显。此外，部分机构推出的策略呈现 新特征：从过去聚焦高股息与科技两端，转向"纺锤型"配置，中游周期制造业或成为关注对象。 俞一奇认为，从内部环境看，当前国内经济的尾部风险正逐渐收敛，国内宏观波动率正在降低。然 而与国内相反，全球宏观波动率却有所上升。这主要源于两方面，一是地缘局势的影响，二是全球主要 经济体普遍处于债务的后周期阶段，许多国家财政面临较大压力，从而推升了全球层面的宏观不确定 性。宏观波动率此消彼长，进一步提升了中国权益资产的吸引力。 权益资产仍有相对估值优势 从资金面的角度分析，光大保德信基金认为，当前融资余额/全A市值升至2015年来的次高水平，两 融杠杆资金规模创下历史新高。从数据上看，从2025年8月底开始，杠杆提升后赚钱效应却逐渐减弱， 这一定程度上会抑制杠杆资金的入市强度，后续杠杆资金的发力更多依赖市场上行空间。 ...

Group 1: Market Performance - The consumption and photovoltaic sectors saw significant gains last week, with several related ETFs, such as the E Fund Consumption ETF (513070) and E Fund New Energy ETF (589960), recording over 3% weekly increases [1][4] - Conversely, gold and artificial intelligence sectors experienced notable adjustments, with multiple related ETFs declining over 9% [1][6] Group 2: Trading Activity - The A-share market saw active trading in broad-based products, with the A500 ETF (159361) and others tracking the CSI A500 index achieving a total trading volume exceeding 254.8 billion yuan [2][8] - The Hang Seng Technology sector attracted significant capital inflow, with ETFs like the E Fund Hang Seng Technology ETF (513010) seeing substantial net inflows [3][10] Group 3: Sector Highlights - The Hang Seng Consumption ETF (513070) tracked the CSI Hong Kong Consumption Index, which rose over 4%, while the E Fund New Energy ETF (589960) and E Fund Photovoltaic ETF (562970) tracked indices that increased over 3% [4][5] - The gold sector showed weakness, with all 14 commodity gold ETFs declining over 5%, and some gold stock ETFs dropping more than 13% [6][7] Group 4: Future Outlook - Industry experts express optimism for the Hong Kong consumption sector in 2026, focusing on high-dividend consumer stocks, resilient domestic demand sectors like education, and timing strategies for new consumption sectors [5] - The market is expected to shift focus towards macroeconomic and industrial cues post-holiday, with a clearer framework for high-quality development and new-old kinetic energy conversion [12]