Group 1: Industry Research Highlights - The most popular industries for institutional research in the week of February 9-13, 2026, ranked by the total number of institutional surveys, are machinery, automotive, basic chemicals, and electronics, with a notable focus on power equipment and machinery in the past five days [11][13]. - Over the past 30 days, the industries with the highest number of institutional surveys are machinery, electronics, pharmaceuticals, and basic chemicals, with machinery and electronics receiving significant attention [13][14]. Group 2: Company Research Highlights - In the week of February 9-13, 2026, the companies with the highest number of institutional surveys, where the number of institutional ratings exceeds 10, include Huari Precision, China National Heavy Duty Truck Group, and Guoneng Rixin [17][20]. - Over the past 30 days, the companies with the most institutional surveys and ratings exceeding 10 are Jiemai Technology, Ice Wheel Environment, and Shanghai Bank [19][21]. Group 3: Key Company Insights 1. **Guoneng Rixin** - Focused on strategic upgrades driven by electricity trading and policies, leveraging its self-developed "Kuangming" new energy model 3.0 to create a closed loop of "prediction-decision-execution-optimization" [23][24]. - The National Development and Reform Commission's new pricing mechanism for independent energy storage significantly enhances project return expectations, driving demand for electricity trading operations [24]. - The company is expanding its investment in new energy assets through its subsidiary Rixin Hongsheng [23]. 2. **Changan Automobile** - Announced a share repurchase plan of 1-2 billion yuan to optimize capital structure and enhance shareholder confidence, alongside a product roadmap that includes 43 new models over the next three years, with over 80% being new energy vehicles [25][26]. - The Avita 06T, a product of its collaboration with Huawei, features advanced technologies and aims to produce the world's first sodium-ion battery passenger vehicle [27]. 3. **Huari Precision** - Expected to achieve a net profit of 180-200 million yuan in 2025, representing a year-on-year increase of 68-87%, driven by recovering downstream demand and product performance improvements [29]. - The company ranks second in domestic production of hard alloy CNC blades and is transitioning towards becoming a comprehensive cutting solution provider [28][29]. - It has a strong focus on R&D, with 32 authorized invention patents and a commitment to high-precision manufacturing capabilities [29][30].

Group 1 - The report highlights that during the period from February 2 to February 8, 2026, three listed companies announced shareholder buyback plans, with average buyback amounts as a percentage of total market value being 0.62% for LinYong Energy, 0.004% for FuRi Shares, and 0.03% for ChangHong HuaYi [1][10]. - A total of 16 companies announced management buybacks during the same period, with notable buyback amounts exceeding 0.05% of total market value, including PengLing Shares [1][11]. - LinYong Energy's controlling shareholder plans to buy back shares worth between 50 million and 100 million yuan, representing 0.62% of the company's total market value, with the aim of boosting investor confidence and stabilizing the stock price [2][12]. Group 2 - LinYong Energy operates in three main sectors: smart grid, renewable energy, and energy storage, providing solutions that include smart meters, renewable power plant development, and energy storage systems [3][13]. - The company has over 1.3 GW of renewable energy plants and offers operation and maintenance services, focusing on solar and wind energy projects [3][14]. - In the energy storage sector, LinYong Energy has developed a comprehensive product line and solutions, including advanced energy storage systems and software platforms, with a production capacity of 10 GWh for energy storage batteries [16][17]. Group 3 - The report emphasizes LinYong Energy's strategic initiatives, including a share buyback plan with a maximum price of 8.75 yuan per share, which is a 40% premium over the closing price of 6.25 yuan on February 9, 2026 [2][13]. - The company aims to enhance its capital structure by canceling previously unused repurchased shares, which will improve earnings per share [2][13]. - Following the announcement, LinYong Energy's stock price increased by 6.66% on the first trading day [2][13].

Key Points - The report highlights the recent increase in shareholding by major stakeholders in several A-share listed companies, indicating confidence in their long-term value and growth potential [10][12]. - Key companies to focus on include Jintian Copper, Pianzaihuang, and Sanofi Biologics, each demonstrating significant management confidence through share buybacks or increases in shareholding [14][20][26]. Group 1: Jintian Copper - Jintian Copper's controlling shareholder plans to increase holdings by no less than 50 million RMB and no more than 100 million RMB, representing an average of 0.36% of the total market value [11][14]. - The company is a leader in copper and copper alloy materials, with a complete industrial chain and a focus on rare earth permanent magnet materials, serving sectors like new energy vehicles and clean energy [14][16]. - Jintian Copper is also the largest recycler of copper in China, emphasizing its commitment to green and low-carbon development [15][16]. Group 2: Pianzaihuang - Pianzaihuang's controlling shareholder plans to increase holdings by no less than 300 million RMB and no more than 500 million RMB, which is about 0.42% of the total market value [12][20]. - The company specializes in traditional Chinese medicine, with its core product, Pianzaihuang, having a history of nearly 500 years and protected formulation techniques [21][22]. - Pianzaihuang is expanding its product line into liver disease, cold medications, and skincare, while also upgrading its pharmaceutical distribution business [22][23]. Group 3: Sanofi Biologics - The Vice Chairman and General Manager of Sanofi Biologics increased her holdings by 1,017.8 million RMB, representing 0.1% of the total shares [12][26]. - The company focuses on diabetes and chronic disease management, transitioning from single glucose monitoring to a multi-parameter detection system [26]. - Sanofi Biologics has expanded its market presence to 187 countries and regions, developing a comprehensive sales system and innovative healthcare solutions [26].

Group 1: Popular Industry Research - The most researched industries from January 26 to January 30, 2026, are electronics, machinery, basic chemicals, and pharmaceutical biology, with electronics and machinery receiving the highest attention in the past five days [10][12] - Over the past 30 days (December 31, 2025, to January 30, 2026), the most researched industries are machinery, electronics, pharmaceutical biology, and basic chemicals, with machinery and computers having the most research institutions [13][14] Group 2: Popular Company Research - In the past five days, the companies with the most research occurrences and more than 10 institutional ratings are Jiemai Technology, Ice Wheel Environment, and Zhou Dazheng [17][19] - Over the past 30 days, the companies with the most research occurrences and more than 10 institutional ratings include Daikin Heavy Industry, Jiangsu Bank, and Naipu Mining Machinery [22][23] Group 3: Key Company Research Summary 1. **Shanghai Bank** - The focus of the research is on strategic planning and shareholder returns, with a new five-year development plan approved, emphasizing technology finance with a loan balance exceeding 187.05 billion [26] - The asset quality remains stable, with credit focus on key regions and retail ecosystems, and a commitment to maintain cash dividends of no less than 30% annually from 2025 to 2027 [26][27] 2. **Liugong** - The research highlights significant growth in core business, with domestic demand for earth-moving machinery rebounding and overseas sales of electric loaders doubling [29] - The company expects a profit increase of 15% to 25% for the year, despite short-term impairment impacts, and is advancing its overseas manufacturing layout [29][30] 3. **Jiemai Technology** - The focus is on the domestic substitution of electronic film materials and capacity expansion, with high-end release films achieving stable supply and certification from major domestic and international clients [31] - The Tianjin base is expected to start trial production in the first quarter of 2026, enhancing supply chain resilience [31][32]

Group 1: Industry Research Highlights - The most focused industries for institutional research from January 19 to January 23, 2026, are machinery equipment, electronics, automotive, and basic chemicals, with machinery and electrical equipment receiving the highest attention in the past five days [9][12]. - Over the past 30 days, the industries with the most institutional research are machinery equipment, electronics, basic chemicals, electrical equipment, and automotive, with machinery and computers having the most research institutions [12]. Group 2: Popular Companies in Institutional Research - The companies with the highest number of institutional research in the past five days, with more than 10 ratings, include Jiemai Technology, Honglu Steel Structure, and Naipu Mining Machinery [16]. - In the past 30 days, the companies with the most institutional research and more than 10 ratings include Ice Wheel Environment, Huichuan Technology, and Jiemai Technology [20][21]. Group 3: Key Company Research Insights 1. **Dajin Heavy Industry** - The core focus of the research is on the expected high growth in 2025, with a projected net profit of 1.05 to 1.20 billion yuan, representing a year-on-year increase of 121.58% to 153.23% [23]. - The growth is driven by strong overseas business, with export revenue accounting for nearly 79% in the first half of 2025, and holding over 10 billion yuan in orders [24]. - The company is transitioning from a single product supplier to a comprehensive service provider, enhancing profitability [24]. 2. **Naipu Mining Machinery** - The research highlights the global launch of a new high-alloy forged composite liner, which is expected to significantly improve efficiency and lifespan [25]. - The company is advancing its overseas production capacity, with a factory in Chile set to start production soon and a project in Peru funded by convertible bonds [26]. - The issuance of 450 million yuan in convertible bonds will support capacity expansion and liquidity [27]. 3. **Jiemai Technology** - The research indicates that the industry is currently experiencing high demand, with core products achieving full production and sales [28]. - The Tianjin production base is expected to begin trial production in the first quarter of 2026, enhancing service capabilities for strategic customers [28]. - The company is also entering the new energy materials sector, with significant production capacity planned [28].

Group 1: Drivers of Excess Returns from Stock Buybacks - Stock buybacks are positively correlated with the buyback ratio, where higher buyback ratios lead to greater excess returns. The highest excess returns for companies with buyback ratios over 5% are 4.48% and 4.36% for the 5th and 4th groups, respectively, while other groups yield less than 1.5% [1][11] - The valuation logic of "stronger gets stronger" and "undervaluation recovery" exists post-buyback announcement. Companies with low valuation (1st group) show a significant excess return of 7.45%, while the highest and lowest valuation groups yield 3.32% and 2.11% excess returns, respectively, over 90 days post-announcement [1][13] Group 2: Recent Stock Buyback Activities - From January 12 to January 16, 2026, 16 companies with more than 10 institutional ratings announced buybacks, with Salted Fish (盐津铺子) being notable for a buyback ratio exceeding 1%. Proya (珀莱雅) is recommended for its low PE percentile over the past three years [2][17] - Salted Fish efficiently completed its buyback, demonstrating strong confidence in its value, with revenue of 4.427 billion and net profit of 605 million in the first three quarters of 2025. The company is upgrading its distribution channels and enhancing profitability [2][19] - Proya initiated its first buyback on January 15, 2026, repurchasing 230,800 shares with a total plan amounting to 80 million to 150 million. The company reported revenue of 7.098 billion and net profit of 1.026 billion in the first three quarters of 2025, with a gross margin of 73.69% [2][19] Group 3: Yearly Stock Buyback Overview - From January 16, 2025, to January 16, 2026, 28 companies with more than 10 institutional ratings announced buybacks, with notable mentions being Jian Sheng Group (健盛集团) and Jingxin Pharmaceutical (京新药业) for buyback ratios exceeding 5% [3][20] - Jian Sheng Group initiated a buyback plan in October 2025, using 150 million to 300 million in self-funds and loans, with a maximum buyback price of 14.69 per share. The company reported revenue of 1.886 billion and net profit of 309 million in the first three quarters of 2025, with a significant cash flow increase of 72.95% [3][23] - Jingxin Pharmaceutical started its buyback plan in January 2025, planning to use 350 million to 700 million in self-funds for employee stock ownership plans. The company reported revenue of 3.048 billion, a slight decline of 5.0%, and a net profit of 576 million, with a non-recurring net profit growth of 8.92% [3][23]

Group 1: Popular Industry Research - The most researched industries from January 12 to January 16, 2026, are mechanical equipment, computers, electronics, and power equipment, with mechanical equipment and computers receiving the highest attention in the past five days [9][11]. - Over the past 30 days (December 17, 2025, to January 16, 2026), the most researched industries are mechanical equipment, electronics, automobiles, power equipment, basic chemicals, and computers, with mechanical equipment and computers again leading in the number of research institutions [11]. Group 2: Popular Company Research - In the past five days, the companies with the most research occurrences and more than 10 institutional ratings include Ice Wheel Environment, Ningbo Bank, and Zhou Dasheng [14]. - Companies with the highest number of research institutions in the past five days, each with more than 10 institutional ratings, include SF Holding, Aobi Zhongguang-UW, and Qianwei Central Kitchen [15]. - Over the past 30 days, the companies with the most research occurrences and more than 10 institutional ratings include Ice Wheel Environment, Kebo Da, and Jiangbolong [18]. Group 3: Key Company Research Insights 1. **Ice Wheel Environment**: The focus of research is on its three high-growth sectors: data center liquid cooling, nuclear power and heating, and thermal management. The company is the only supplier of cooling systems for the entire nuclear island area in China and has successfully implemented liquid cooling solutions in several benchmark projects domestically and internationally [21][22]. 2. **SF Holding**: The research highlights its strategic shareholding agreement with Jitu Express, where both companies will invest approximately HKD 8.299 billion in each other. This partnership aims to integrate SF's advantages in cross-border logistics with Jitu's local delivery capabilities in Southeast Asia, the Middle East, and Latin America [23][24]. 3. **Aobi Zhongguang-UW**: The research focuses on the rapid growth of its performance, attributed to the penetration of 3D vision technology in various applications. The company reported a revenue of CNY 714 million for the first three quarters of 2025, a year-on-year increase of 103.50%, and a net profit of CNY 108 million, up 279.12% [25][26].

Investment Rating - The report does not explicitly provide an investment rating for the industry or companies discussed [28]. Core Insights - The report highlights that the mechanical equipment, electronics, and computer industries are currently receiving significant attention from institutional investors, with a notable increase in the number of institutions conducting research in these sectors [10][12]. - Key companies such as Ice Wheel Environment and Nengke Technology are leading in institutional research, showcasing their advancements in high-growth areas like data center cooling and aerospace digitalization [24][26]. Summary by Sections 1. Institutional Research on Popular Industries - During the week of January 5 to January 9, 2026, the mechanical equipment, computer, electronics, automotive, and basic chemicals sectors were the most researched by institutions, with a particular focus on the computer and automotive sectors in the past five days [10][12]. - Over the past 30 days, the same sectors maintained high interest, with mechanical equipment and electronics receiving the most attention from research institutions [12]. 2. Institutional Research on Popular Companies - In the week of January 5 to January 9, 2026, Ice Wheel Environment and BOE Technology Group were among the top companies researched, each receiving attention from more than 10 institutions [16][19]. - Over the past 30 days, Ice Wheel Environment, Kebo Technology, and Dazhu Laser were highlighted for their significant research activity, with Ice Wheel Environment receiving 13 research visits [20][21]. 3. Key Company Research Insights Ice Wheel Environment - The focus of the research on Ice Wheel Environment included advancements in data center liquid cooling, nuclear thermal management, and the commercialization of "dual carbon" technologies. The company has successfully implemented its cooling systems in major projects like the National Supercomputing Center in Guangzhou and is expanding into international markets [24][26]. - The company has also made strides in nuclear power technologies, with successful applications in several nuclear power plants and recent wins in projects related to small modular reactors [24]. Nengke Technology - Nengke Technology showcased its leadership in the aerospace sector, having served over 200 aerospace clients with total orders exceeding 1 billion yuan. The company is leveraging AI technologies in various manufacturing processes, including rocket assembly quality inspection and CAD drawing recognition [25][26]. - The company is also initiating product development in remote sensing based on new customer demands for satellite monitoring, and it has received approval for a fundraising initiative to support the development of three AI platforms [26].

Group 1: Key News and Insights - The December 22 LPR remains unchanged at 3.0% for 1-year and 3.5% for 5-year loans, indicating a stable monetary policy environment [1][12] - The launch of the National Venture Capital Guiding Fund aims to attract diverse investments, targeting a total fund size of trillions by leveraging central government funds [1][22] - The National Development and Reform Commission (NDRC) has initiated 21 key measures to support the high-quality development of the Western Land-Sea New Corridor, emphasizing financial support and cooperation [1][15][16] Group 2: Market Overview - The domestic securities market showed mixed performance, with the Sci-Tech 100 index rising by 5.60%, while other major indices experienced declines [2][26] - The non-ferrous metals sector led the industry gains with a 6.43% increase, reflecting strong demand dynamics [2][28] Group 3: Buyback and Stake Increase - A total of 5 companies reported significant shareholder buybacks, with Kangnibei planning to increase its stake by over 1% of total shares [3][34] - 60 companies announced buyback plans, with 9 companies intending to repurchase more than 1% of their total shares, highlighting a trend of corporate confidence [3][36] Group 4: Investment Recommendations - In the technology sector, companies focused on artificial intelligence, semiconductor chips, and robotics are expected to outperform due to favorable policies and liquidity conditions [4][39] - The non-bank financial sector, particularly brokerage firms, is anticipated to benefit from a slow bull market, while insurance companies may see improved returns on long-term assets [4][40] - The copper market is expected to maintain a tight supply-demand balance, supporting price increases, while energy metals like lithium and cobalt remain attractive due to battery and storage demand [4][40] - The electric equipment sector is poised for growth driven by AI and renewable energy, indicating a robust future demand for power equipment [4][41] - Domestic consumption is projected to expand, with a focus on enhancing consumer spending capabilities [4][42]

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Luxshare Precision, Haiguang Information, Zhongke Shuguang, Jereh, and Huichuan Technology [11] - In the last five days, the most popular companies for institutional research were Haiguang Information, Zhongke Shuguang, Weichuang Electric, Superjet, and Shenghong Technology [11] - Among the top twenty companies in the past 30 days, 13 companies had 10 or more rating agencies involved [11] Group 2: Major Shareholder Increase in A-Share Companies - From December 8 to December 12, 2025, two A-share companies announced significant shareholder increases, with Inpai Si planning to increase its holdings by an amount that represents more than 1% of the market value on the announcement date [18] - From January 1 to December 12, 2025, a total of 307 companies announced shareholder increases, with 77 of them having 10 or more rating agencies involved [19] Group 3: A-Share Company Buyback Situation - Between December 8 and December 12, 2025, 50 companies announced buyback progress, with 13 having 10 or more rating agencies involved [22] - Four companies are recommended for attention based on their buyback amounts exceeding 1% of their market value on the announcement date, including Naxin Micro, Midea Group, SF Holding, and China Merchants Jinling [22] - From January 1 to December 12, 2025, a total of 1,830 companies announced buyback progress, with 356 having 10 or more rating agencies involved [24]