Investment Rating - The report does not explicitly provide an investment rating for the industry or specific companies [23] Core Insights - The North Exchange A-share trading volume reached 22.508 billion yuan on February 4, an increase of 0.958 billion yuan from the previous trading day, with the North Exchange 50 Index closing at 1,538.571, down 0.71% [1][7] - The market exhibited characteristics of "few leading stocks declining, many individual stocks diverging," with notable rebounds in undervalued stocks like Kaiter Co., while weighted stocks like Liancheng CNC dragged down the index [3] - The report highlights ongoing positive factors for the North Exchange market, including policy support from the central bank for technology and green sectors, and successful IPOs of national-level specialized and innovative "little giant" enterprises [3] Market Review - On February 4, among 292 companies listed on the North Exchange, 113 stocks rose, 9 remained flat, and 170 declined [15] - The top five gainers were *ST Yunchuang (24.1%), Haitai New Energy (14.1%), Oputai (13.0%), Kaiter Co. (8.7%), and Tress (8.4%) [15] - The top five decliners were Liancheng CNC (-9.1%), Tianli Composite (-8.8%), Meibang Technology (-7.6%), Meideng Technology (-6.9%), and Liujin Technology (-5.8%) [15] Important News - Elon Musk's teams from SpaceX and Tesla are exploring China's photovoltaic industry, with the Tesla team currently in the factory inspection phase and SpaceX having placed orders with a leading heterojunction equipment manufacturer [2][17] - The first satellite launch technology facility for commercial aerospace has been established, which is expected to double the efficiency of single-rocket launches and reduce network costs by over 30% [2][18] Company Announcements - Yizhi Magic Yam announced the completion of a share buyback of 17,521 shares, accounting for 0.0170% of the total share capital before the buyback [19] - Tress plans to repurchase shares primarily to reduce registered capital, with a total repurchase amount between 10 million and 20 million yuan, representing 0.41%-0.82% of the current total share capital [20]

每经讯，2026年2月5日，北交所上市公司流金科技（920021，收盘价：13.33元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日换手率达到24.01%，成交数量5590.06万股，成交金额7.52亿元。买一席位为机构专用，买入1785.76万元；卖一席位为机 构专用，卖出1933.68万元。 | | 2026-02-05流金科技 (920021) 龙虎榜 | | | | --- | --- | --- | --- | | 序号 | 交易营业部名称 | 买入金额 | 卖出金额 | | | | (元) | (元) | | 买T | 机构专用 | 17857565.87 | 19336771.18 | | 买2 | 东方财富证券股份有限公司拉萨东环路第一证券营业部 | 15568305.65 | 6941431.29 | | ポ3 | 东方财富证券股份有限公司拉萨团结路第二证券营业部 | 12863640.46 | 10810504.14 | | न्द्र 4 | 东方财富证券股份有限公司拉萨东环路第二证券营业部 | 12408566.29 | 12801347.11 | | નેર | 东方财富证券股份 ...

（记者 张明双） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前核实。据此操作，风险自担。 每日经济新闻 每经讯，2026年2月4日，北交所上市公司流金科技（920021，收盘价：13.06元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日换手率达到26.09%，成交数量6073.83万股，成交金额7.85亿元。买一席位为机构专用，买入1845.09万元；卖一席位为长 城证券股份有限公司西北分公司，卖出4123.33万元。 | | 2026-02-04流金科技 (920021) 龙虎榜 | | | | --- | --- | --- | --- | | 序号 | 交易营业部名称 | 买入金额(元) | 卖出金额(元) | | नेट ग | 机构专用 | 18450946.29 | 9571798.83 | | ग्रेट | 国信证券股份有限公司深圳互联网分公司 | 15471081.66 | 11605240.71 | | 买3 | 东方财富证券股份有限公司拉萨团结路第一 证券营业部 | 15193166.25 | 9815806.75 | | ग्रेस | 东方财富证券股份有限公司拉萨东环 ...

证券代码：920021 证券简称：流金科技 公告编号：2026-004 北京流金岁月传媒科技股份有限公司 使用闲置自有资金委托理财进展的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 一、 授权委托理财情况 （一）购买理财产品的审议情况 北京流金岁月传媒科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第四届董事会第六次会议，审议通过《关于公司使用自有闲置资金进 行委托理财》议案。在满足生产经营资金需求的情况下，根据闲置资金状况和 经营计划，适当购买金融机构理财产品，以提高资金使用效率。使用额度不超 过人民币 15,000 万元的自有闲置资金购买安全性高、流动性好、风险较低的理 财产品，在此额度内可以循环滚动使用。具体内容详见公司 2025 年 4 月 25 日 在北京证券交易所（www.bse.cn）披露的《北京流金岁月传媒科技股份有限公 司使用闲置自有资金委托理财的公告》（公告编号：2025-014）。 （二）购买理财产品的披露标准 根据《北京证券交易所股票上市规则》相 ...

每经讯，2026年2月3日，北交所上市公司流金科技（920021，收盘价：13.86元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日换手率达到29.42%，成交数量6850.82万股，成交金额9.64亿元。买一席位为东方财富证券股份有限公司拉萨东环路第二 证券营业部，买入1496.89万元；卖一席位为机构专用，卖出2030.86万元。 （记者 曾健辉） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前核实。据此操作，风险自担。 每日经济新闻 ...

每经讯，2026年2月2日，北交所上市公司流金科技（920021，收盘价：13.42元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日换手率达到30.68%，成交数量7143.21万股，成交金额9.83亿元。买一席位为机构专用，买入1978.24万元；卖一席位为国 信证券股份有限公司深圳互联网分公司，卖出2212.26万元。 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前核实。据此操作，风险自担。 每日经济新闻 （记者 曾健辉） ...

Group 1 - The report highlights the recent issuance of a notification by the National Development and Reform Commission and the National Energy Administration to improve the capacity pricing mechanism for power generation, which aims to adapt to the needs of the new power system and market structure [6][9]. - As of the end of 2025, China's cumulative installed capacity of new energy storage is expected to reach 213.3 GW, representing a year-on-year growth of 54%. The market share of lithium-ion batteries in new energy storage is projected to increase significantly from 8.2% at the end of the 13th Five-Year Plan to 65.8% by the end of the 14th Five-Year Plan [12][19]. - The report identifies 13 core companies in the energy storage industry chain listed on the Beijing Stock Exchange, including Changhong Energy, Haixi Communication, and others, which are involved in various aspects of energy storage technology and products [28][29]. Group 2 - The median price-to-earnings (P/E) ratio for the new energy industry on the Beijing Stock Exchange has decreased from 37.1X to 35.9X, with the median market capitalization dropping from 27.2 billion to 24.2 billion [31][32]. - The report notes that the median P/E ratio for electronic equipment companies on the Beijing Stock Exchange has declined from 65.8X to 61.1X, indicating a shift in market valuation trends [31][32]. - The report indicates that the median P/E ratio for mechanical equipment companies has decreased from 44.6X to 42.3X, reflecting changes in investor sentiment and market conditions [31][32].

（记者 曾健辉） 每经讯，2026年1月30日，北交所上市公司流金科技（920021，收盘价：13.1元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日换手率达到32.28%，成交数量7515.74万股，成交金额9.72亿元。买一席位为国信证券股份有限公司深圳互联网分公司， 买入2247.68万元；卖一席位为机构专用，卖出2119.47万元。 | | 2026-01-30流金科技 (920021) 龙虎榜 | | | | --- | --- | --- | --- | | 序号 | 交易营业部名称 | 买入金额(元) | 卖出金额(元) | | ਜੇਟ ਹ | 国信证券股份有限公司深圳互联网分公司 | 22476845.56 | 12317149.98 | | 买2 | 东吴证券股份有限公司苏州西北街证券营业部 | 18521326.37 | 5400244 45 | | 买3 | 东方财富证券股份有限公司拉萨团结路第二证券营业部 | 15211404.32 | 11344953.55 | | ग्रेडर | 东方财富证券股份有限公司拉萨东环路第二证券营业部 | 14258517.26 | 1518323 ...

Core Insights - The report indicates that since the fourth quarter, the funding structure of the Beijing Stock Exchange (BSE) has shown a "dual expansion" characteristic, with both the number and attention towards index funds steadily increasing, forming a preliminary bottom position for index products. Concurrently, some active funds are beginning to identify individual stocks with growth potential and undervaluation advantages, transitioning from a concentrated to a structured optimization approach, maintaining overall market stability [7][16] - From the market ecology perspective, the concentration of index constituent stocks has increased, and the valuation anchoring effect is gradually becoming evident. Some newly listed stocks with solid fundamentals and low coverage have become focal points for new incremental funds. As the allocation logic evolves towards the medium to long term, the market style is gradually shifting to a "selected + low turnover" characteristic. Overall, the current valuation of the BSE market offers relative cost-effectiveness, with a resonance structure among index funds, active funds, and new stock supply, which is expected to provide medium-term support for the market [7][16] Market Review and Valuation - As of January 29, 2026, the BSE 50 Index rose by 6.64% in January, with a maximum increase of 3.96% during the period. Among BSE stocks, 222 stocks increased, 69 stocks decreased, and none remained flat [8][17] - The average PE (TTM) of the BSE 50 Index as of January 29, 2026, is 64.50 times, with a median of 64.74 times. In comparison, the average PE (TTM) of the ChiNext Index is 43.24 times, and the Sci-Tech Innovation Board is 175.49 times [22] New Stock Dynamics - In January, four new stocks were listed on the BSE, bringing the total number of listed companies to 291 as of January 29, 2026. From January 1 to January 30, 2026, five companies were subscribed and five were listed [32] Key Company Announcements - The report includes various company announcements, highlighting significant contracts and operational updates from companies such as Copper Crown Mining, Taihu Yuanda, and Dana Biotechnology, which indicate ongoing business activities and strategic developments [40]

AI 驱动权威信源回流，渠道资源壁垒深厚 ——流金科技点评报告 电视广播Ⅱ 执业证书编号：S0740525020002 Email：xianglan@zts.com.cn | 基本状况 | | --- | | 总股本(百万股) | 309.00 | | --- | --- | | 流通股本(百万股) | 232.84 | | 市价(元) | 10.85 | | 市值(百万元) | 3,352.65 | | 流通市值(百万元) | 2,526.34 | 执业证书编号：S0740519050004 Email：fengsheng@zts.com.cn 公司点评报告 1、《核心业务承压，技术转型蓄力 未来增长》2025-06-24 2、《电视频道覆盖龙头服务商，微 2025-03-19 流金科技（920021.BJ） 证券研究报告/公司点评报告 2026 年 01 月 29 日 | 评级： | 增持（维持） | 公司盈利预测及估值 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 指标 | | | | 2023A | 20 ...