【导读】多次盘中拉抬股价，浩坤昇发遭限制交易3个月 中国基金报记者 孙越 北交所近日发布一则自律监管措施决定书，对浙江浩坤昇发资产管理有限公司（以下简称浩 坤昇发）名下相关证券账户采取限制交易三个月的监管措施，自2026年1月26日至2026年4 月25日。 值得注意的是，这是浩坤昇发在两个多月内第二次受到监管处罚。去年11月5日，浙江证监局 就曾对该公司采取出具警示函的监管措施。 北交所在此次自律监管措施决定书中也指出，浩坤昇发名下证券账户曾多次因异常交易行为 被采取连续实施暂停证券账户交易等自律监管措施，但其仍未改正，继续实施异常交易行 为。 1月23日，浩坤昇发名下相关账户继续实施拉抬股价行为，10:02:14.62至10:03:58.62期 间，股价涨幅为6.42%，相关账户买入成交43.67万股、1013.74万元，买入成交占比达 67.90%；10:25:12.31至10:27:21.29期间，股价涨幅为2.45%，相关账户买入成交13.79 万股、310.50万元，买入成交占比达87.95%。随后，相关账户于10:02:30.94至 10:35:01.44反向卖出成交28.92万股、658.47 ...

【导读】上期所调整白银、锡期货交易限额，以及铜、铝期货涨跌停板幅度等 中国基金报记者 忆山 1月26日，上海期货交易所（以下简称上期所）发布多条公告，再次收紧白银、锡期货相关合 约交易限额的同时，进一步调整了铜、铝期货相关合约涨跌停板幅度和交易保证金比例。 调整白银、锡期货相关合约交易限额 上期所表示，根据《上海期货交易所风险控制管理办法》的有关规定，经研究决定，自2026 年1月27日（即1月26日夜盘）交易起，非期货公司会员、境外特殊非经纪参与者、客户在白 银、锡期货已上市合约的交易限额调整如下： 白银期货AG2602、AG2603、AG2604、AG2605、AG2606、AG2607、AG2608、 AG2609、AG2610、AG2611、AG2612、AG2701合约的日内开仓交易的最大数量为800 手。 锡期货SN2602、SN2603、SN2604、SN2605、SN2606、SN2607、SN2608、 SN2609、SN2610、SN2611、SN2612、SN2701合约的日内开仓交易的最大数量为200 手。 实际控制关系账户组日内开仓交易的最大数量按照单个客户执行。套期保值交易和做市交 ...

【导读】压单又来了！ 中国基金报记者 泰勒 大家好，今天在一系列"降温"措施之下，市场震荡下跌，一起看看发生了什么事情。 1月26日，沪指全天横盘震荡，深成指、创业板指跌近1%。截至收盘， 沪指跌0.09%，深成 指跌0.85%，创业板指跌0.91%。 个股跌多涨少， 1604只个股上涨，77只个股涨停，3771只个股下跌。 | 880005 4 1 2 3 | | | | | | --- | --- | --- | --- | --- | | 草中 | 涨停 | | | | | 涨幅 | > 7% | | | 152 | | 涨幅 | 5-7% | 1 | | 100 | | 张幅 | 3-5% | | | 219 | | 涨幅 | 0-3% | | | 1133 | | 跌幅 | 0-3% | | | 2402 | | 跌幅 | 3-5% | | | 900 | | 跌幅 | 5-7% | | | 269 | | 跌幅 | > 7% | | | 200 | | 其中 跌停 | | | | 40 | | 上涨家数 下跌家数 | | | | 1604 | | | | | | 3771 | | | | | | ...

【导读】环比大增420%，最短持有期理财产品受青睐 中国基金报记者 李树超 张玲 随着行情持续回暖，理财新发市场逐渐活跃，最短持有期产品尤其受到资金青睐，2025年12 月募集规模环比增逾4倍。 业内人士认为，多重因素推动最短持有期产品新发规模大增。普通投资者应根据自身需求匹 配不同期限理财产品，避免盲目追高。 最短持有期产品新发规模大增 中国理财网显示，1月以来，上银理财、信银理财、招银理财、青银理财等理财公司已累计发 布超20只最短持有期产品。同时，信银理财，浙江富阳农商银行、萧山农商银行旗下共9只最 短持有期产品处于待售状态。 Wind数据显示，2025年12月，理财新发规模达4631.76亿元，环比增长29.2%。其中，最 短持有期产品新发规模为近4个月最高，7天～1个月期限产品规模环比大增420.4%。 睿智新虹理财研究院表示，最短持有期理财产品能较好地平衡收益与流动性。对于投资者而 言，该类产品每日可以申购，享有"持有期后近似活期"的流动性体验，且其收益水平通常高 于日开放型产品。对于理财机构而言，设置固定持有期有助于缓解资金流动性管理的压力， 使其可以适当配置期限较长、收益较高的资产，进一步支撑 ...

Core Viewpoint - The A-share market experienced a broad increase, but there was a significant outflow of funds from stock ETFs, totaling over 717 billion yuan on January 23, indicating a trend of profit-taking among investors [2][7][8]. Group 1: Market Performance - On January 23, the A-share market saw all three major indices rise, with total trading volume exceeding 30 trillion yuan [2]. - The total scale of stock ETFs in the market reached 4.58 trillion yuan as of January 23, 2026 [4]. - The trading volume of stock ETFs on that day was 368.61 billion yuan, an increase of over 68 billion yuan compared to the previous trading day [4]. Group 2: Fund Flows - Stock ETFs experienced a cumulative net outflow of nearly 450 billion yuan over the past five trading days, with 26 ETFs seeing outflows exceeding 1 billion yuan on January 23 [8][10]. - The largest net outflows were observed in broad-based ETFs, with four ETFs experiencing single-day outflows exceeding 100 billion yuan, and one ETF exceeding 200 billion yuan [8][10]. Group 3: Sector Performance - The solar and satellite sectors led the gains among stock ETFs, with four solar ETFs and six satellite ETFs among the top ten performers [5]. - On January 23, 21 stock ETFs had an increase of over 8%, with the top performers being the Sci-Tech Innovation Board New Energy ETF and various satellite ETFs, each rising by 10% [5][6]. Group 4: Fund Inflows - Despite the overall outflow, 58 stock ETFs saw inflows exceeding 100 million yuan, with the CSI 500 ETF, Sci-Tech Chip ETF, and Chemical ETF leading the inflows [8][9]. - Notable inflows were recorded for ETFs managed by leading fund companies, such as E Fund and Huaxia Fund, indicating continued interest in specific sectors [12].

【导读】 360doc 个人图书馆宣布将无偿转让 中国基金报记者 忆山 日前，已成立 20 年的知名知识管理与分享平台 "360doc 个人图书馆 " 宣布将无偿转让， 引发广泛关注。 接收方应具备 500 万元以上资金实力 1 月 24 日， 360doc 个人图书馆团队发布消息称，因公司业务调整，现决定将 360doc 个 人图书馆的全站平台资产（核心技术、数据及运营团队），向具备诚意与能力的伙伴进行无 偿转让。 该团队表示，期望有意愿者具备以下条件： 1. 充足的资金实力（不少于 500 万元），能保障平台安全稳定、持续服务。 2. 对内容与用户的尊重，理解平台承载的独特价值，保障用户的完整使用权益。 3. 清晰可行的持续运营计划，能让这个陪伴用户多年的平台继续成长。 资料显示， 360doc 个人图书馆目前是中国领先的独立网上知识管理与学习社区之一，主要 为用户提供一个能够方便存储、管理及分享网上数字资产的个人空间。 蔡智强调，正因为 " 无偿 " ，她才必须设定最严格的门槛。 500 万元不是售价，而是根据 平台数据规模、运营成本估算出的，确保未来两年安全、稳定运营的起码保障。 " 我们无法 承受接 ...

Market Overview - The A-share market opened higher but experienced a "W" shaped fluctuation, with the Shanghai Composite Index closing at 4141.01 points, a slight increase of 0.12% [1] - The Shenzhen Component Index fell by 0.74%, and the ChiNext Index dropped by 0.86% [1] Individual Stock Performance - A total of 3756 stocks declined, while 1606 stocks rose, with 50 stocks hitting the daily limit up [2] - The total trading volume in the Shanghai and Shenzhen markets reached 2.24 trillion yuan, an increase of 347.8 billion yuan compared to the previous trading day [2] Sector Performance Precious Metals - The precious metals sector saw significant gains, with individual stocks like Hunan Gold and Jin Hui shares hitting the daily limit up [5] - Gold prices reached a new high, with spot gold surpassing $5000 per ounce, and Goldman Sachs raised its 2026 gold price forecast to $5400 per ounce from $4900 [8] Oil and Gas - The oil and gas sector experienced a rally, with major companies like China National Petroleum, China National Offshore Oil, and Sinopec all seeing gains of over 4% [10] - The rise in oil prices was attributed to geopolitical tensions, with WTI and ICE Brent crude both increasing by over 3% [10] Financial Sector - The financial sector showed upward movement, with securities stocks rising significantly; for instance, Caitong Securities and Industrial Securities increased by over 4% [14] - Insurance stocks also performed well, with New China Life and China Pacific Insurance rising by over 3% [16] Alcoholic Beverages - The liquor sector faced a downturn, dropping over 1%, with stocks like Yanghe and Kweichow Moutai experiencing notable declines [20] - Yanghe's forecast indicated a potential net profit drop of 62.18% to 68.30% for the fiscal year 2025, leading to a projected loss of 1.451 billion to 1.859 billion yuan in Q4 2025 [21]

Core Viewpoint - The Hong Kong Special Administrative Region (HKSAR) government has established the "Hong Kong Gold Settlement Company," marking a significant step towards deeper cooperation between the gold markets of Hong Kong and Shanghai [2][4]. Group 1: Cooperation Agreement - The cooperation agreement was signed at the Asian Financial Forum, witnessed by key officials including the Chief Executive of HKSAR and the Deputy Governor of the People's Bank of China [2]. - The agreement aims to support the construction of a Hong Kong gold clearing system and enhance the collaboration between Hong Kong and Shanghai as international financial centers [5]. Group 2: Strategic Significance - The agreement emphasizes the strategic importance of gold in the global financial system, especially amid geopolitical uncertainties and inflation pressures [5]. - The collaboration reflects the commitment to high-quality financial openness and the coordinated development of the gold markets in both cities [5]. Group 3: Key Arrangements - The first key arrangement involves establishing a high-level governance structure for the Hong Kong Gold Central Clearing System, with the HKSAR Financial Secretary as the chairman and a representative from the Shanghai Gold Exchange as the vice-chairman [6]. - The second arrangement focuses on exploring new pathways for physical infrastructure collaboration and market connectivity, leveraging the Shanghai Gold Exchange's storage management system [6]. Group 4: Six Initiatives for Market Development - The HKSAR government announced six initiatives aimed at enhancing the gold market, including: 1. Expanding gold storage capacity at Hong Kong International Airport to exceed 2,000 tons within three years [8]. 2. Signing a memorandum of cooperation with Shenzhen for processing trade collaboration [8]. 3. Launching the Hong Kong Gold Central Clearing System for trial operations within the year [8]. 4. Proposing legislative changes to include precious metals in tax incentive investment categories [8]. 5. Introducing a new gold fund that will facilitate physical gold transactions and storage [8]. 6. Developing a sustainable gold governance framework to promote ethical sourcing and environmental standards [8]. Group 5: Future Outlook - The collaboration between Hong Kong and Shanghai is seen as a historical opportunity to shape the future of the global gold market, aiming to create lasting value for global investors and economies [9].

Group 1 - The core point of the article is that Jumpshare Star has completed a B+ round financing of 5 billion yuan, setting a record for single financing in the large model sector over the past 12 months [2] - Jumpshare Star announced that Yin Qi has officially taken over as the chairman of the company, responsible for overall strategic rhythm and technological direction [3] - Yin Qi has extensive experience in the artificial intelligence field and will work with the core management team to enhance the company's strategic direction and execution [3] Group 2 - Yin Qi expressed two main expectations for Jumpshare Star: to become one of the best companies in the foundation model field and to establish a commercial closed-loop model [4] - The company aims to integrate AI or large models with terminal applications, focusing on both B2B and B2C markets [4] - The primary focus for Jumpshare Star under Yin Qi's leadership will be on research and development, emphasizing the need for more talented individuals to support the vision of AGI and commercial realization [4]

【导读】基金公司探索基金经理团队制 中国基金报记者 方丽 陆慧婧 公募基金高质量发展行动方案明确支持基金经理团队制管理模式。近年来，部分基金公司开 始试水以基金经理团队制替代传统的"明星基金经理"单打独斗模式。 近期，睿远基金发行成立的睿远研选均衡三年持有混合发起式基金由3位基金经理共同管理， 更早之前成立的工银领航三年持有混合基金则由四位基金经理共同管理。Wind数据显示，截 至1月25日，全市场的普通股票型基金、偏股混合型基金、平衡混合型基金中，有25只基金 由3位及以上的基金经理共同管理。 在业内人士看来，将投资从"明星基金经理"升级为"投研体系化"，本质上是通过系统化协作 降低对个体的依赖。这种发展趋势是资管行业走向成熟的必由之路，也体现了行业对长期性 的追求。 基金公司加大力度探索基金经理团队制 公募基金高质量发展行动方案提出，加快"平台式、一体化、多策略"投研体系建设，支持基 金经理团队制管理模式，做大做强投研团队。基金公司纷纷响应号召，加大力度探索基金经 理团队制。 近期，睿远基金发行成立了睿远研选均衡三年持有混合发起式基金，据悉，该基金将采用基 金经理团队制管理模式，3位基金经理分别为董春峰、 ...