Key Points - Tencent Holdings (00700), Yingfu Fund (02800), and Shandong Gold (01787) ranked the top three in net inflow of southbound funds, with net inflows of 736 million, 423 million, and 393 million respectively [1] - Alibaba-W (09988), SMIC (00981), and Hua Hong Semiconductor (01347) ranked the top three in net outflow of southbound funds, with net outflows of -524 million, -391 million, and -199 million respectively [1] - In terms of net inflow ratio, China Overseas Macro Holdings (00081), Xinhua Wencuan (00811), and China Oriental Education (00667) led the market with ratios of 55.30%, 50.59%, and 49.55% respectively [1] - Conversely, Zhengzhou Bank (06196), China Energy Construction (03996), and Hongye Futures (03678) had the highest net outflow ratios at -50.51%, -49.70%, and -48.03% respectively [1] Top 10 Net Inflow Stocks - Tencent Holdings (00700) had a net inflow of 736 million, representing a 5.67% increase, with a closing price of 548.000 [2] - Yingfu Fund (02800) saw a net inflow of 423 million, with a 5.13% increase, closing at 27.480 [2] - Shandong Gold (01787) experienced a net inflow of 393 million, with a significant 31.27% increase, closing at 40.180 [2] - Bilibili-W (09626) had a net inflow of 335 million, with a 27.53% increase, closing at 252.800 [2] - China National Offshore Oil (00883) had a net inflow of 301 million, with a 22.88% increase, closing at 24.800 [2] Top 10 Net Outflow Stocks - Alibaba-W (09988) faced a net outflow of -524 million, with a -6.30% decrease, closing at 160.100 [2] - SMIC (00981) had a net outflow of -391 million, with a -6.39% decrease, closing at 70.000 [2] - Hua Hong Semiconductor (01347) saw a net outflow of -199 million, with a -15.56% decrease, closing at 99.600 [2] - Changfei Optical Fiber (06869) experienced a net outflow of -172 million, with a -5.33% decrease, closing at 107.500 [2] - Minmetals Resources (01208) had a net outflow of -168 million, with a -32.19% decrease, closing at 10.160 [2] Top 10 Net Inflow Ratios - China Overseas Macro Holdings (00081) led with a net inflow ratio of 55.30%, with a net inflow of 8.1564 million, closing at 2.650 [3] - Xinhua Wencuan (00811) followed with a net inflow ratio of 50.59%, with a net inflow of 5.2208 million, closing at 11.080 [3] - China Oriental Education (00667) had a net inflow ratio of 49.55%, with a net inflow of 15.9379 million, closing at 6.100 [4] Top 10 Net Outflow Ratios - Zhengzhou Bank (06196) had the highest net outflow ratio at -50.51%, with a net outflow of -3.1282 million, closing at 1.150 [4] - China Energy Construction (03996) followed with a net outflow ratio of -49.70%, with a net outflow of -16.9578 million, closing at 1.180 [4] - Hongye Futures (03678) had a net outflow ratio of -48.03%, with a net outflow of -5.2165 million, closing at 3.220 [4]

Group 1 - The core point of the news is that Jiangsu Hongsu Industrial Co., Ltd., a shareholder of Hongye Futures, has completed a passive reduction plan due to judicial enforcement, reducing its shares by 18,134,522, which is 1.7995% of the total share capital, without changing control of the company [1] - The remaining shares to be reduced under the plan are 377 shares, and the shareholder has fulfilled the pre-disclosure obligations [1] - This event may impact short-term market sentiment [1] Group 2 - Hongye Futures' stock price has shown volatility, closing at 10.12 yuan on February 9, 2026, up 1.20% from the previous day, with a trading volume of 73.1666 million yuan, but with a net outflow of 669,100 yuan from main funds [2] - On February 6, 2026, the stock price closed at 10.03 yuan, down 0.79%, with a net outflow of 4.3405 million yuan from main funds, indicating low market participation and dispersed chips [2] Group 3 - For the first nine months of 2025, Hongye Futures reported a revenue of 462 million yuan, a decrease of 76.77% year-on-year, and a net profit attributable to shareholders of 2.0897 million yuan, down 87.27% year-on-year [3] - Despite a 57.36% year-on-year increase in net profit for the third quarter, the overall profit scale remains small, and the company has a high asset-liability ratio, indicating weak fundamentals [3] - Since its A-share listing, the company has distributed a total of 44.3422 million yuan in dividends, with 14.1089 million yuan distributed over the past three years [3]

Group 1 - The core point of the news is that Jiangsu Hongsu Industrial Co., Ltd. has completed a judicial enforcement plan, resulting in a passive reduction of 18,134,522 shares of Hongye Futures, accounting for 1.7995% of the total share capital, without changing control [1] Group 2 - On February 5, 2026, Hongye Futures A-shares closed at 10.11 yuan, up 0.7% from the previous day, with a trading volume of 79.3766 million yuan and a turnover rate of 1.04%, while net inflow of main funds was 3.2898 million yuan [2] - On February 9, the stock price further increased by 1.20% to 10.12 yuan, with a trading volume of 73.1666 million yuan, but main funds experienced a net outflow of 669,100 yuan, indicating a reduction in positions over two consecutive days [2] Group 3 - For the first nine months of 2025, Hongye Futures reported an operating income of 462 million yuan, a year-on-year decrease of 76.77%, and a net profit attributable to shareholders of 2.0897 million yuan, down 87.27% year-on-year [3] - The net profit for the third quarter alone was 5.6954 million yuan, showing a year-on-year increase of 57.36%, although the overall profitability remains low with a debt-to-asset ratio of 85.1% [3] - The company's business model is based on traditional futures brokerage, with risk management as the core growth point, but short-term performance is under pressure [3]

Core Viewpoint - The report highlights the AH premium rates of various companies, indicating significant discrepancies between their H-shares and A-shares, with some companies showing extremely high premiums while others exhibit negative premiums [1]. Group 1: Top AH Premium Rates - Northeast Electric (00042) has the highest AH premium rate at 831.03%, with H-share priced at 0.290 HKD and A-share at 2.25 CNY [1]. - Sinopec Oilfield Service (01033) follows with a premium rate of 296.70%, H-share at 0.910 HKD and A-share at 3.01 CNY [1]. - Beijing Jingcheng Machinery Electric (00187) ranks third with a premium of 285.05%, H-share at 4.280 HKD and A-share at 13.76 CNY [1]. Group 2: Lowest AH Premium Rates - Contemporary Amperex Technology (03750) has the lowest AH premium rate at -13.27%, with H-share priced at 511.000 HKD and A-share at 370 CNY [1]. - China Merchants Bank (03968) shows a premium of -4.06%, H-share at 49.300 HKD and A-share at 39.49 CNY [1]. - WuXi AppTec (02359) has a premium of -2.14%, with H-share at 120.800 HKD and A-share at 98.7 CNY [1]. Group 3: Top Deviation Values - Jinju Group (02009) has the highest deviation value at 24.42%, with a premium of 212.05% [1]. - Beijing Jingcheng Machinery Electric (00187) has a deviation value of 21.92%, with a premium of 285.05% [1]. - Longpan Technology (02465) ranks third with a deviation value of 19.68%, and a premium of 101.01% [1]. Group 4: Lowest Deviation Values - JunDa Co., Ltd. (02865) has the lowest deviation value at -70.56%, with a premium of 176.15% [2]. - Changfei Optical Fiber (06869) follows with a deviation of -45.38%, and a premium of 105.94% [2]. - Chenming Paper (01812) has a deviation of -26.81%, with a premium of 190.80% [2].

Core Insights - The article highlights the top and bottom AH premium rates for various stocks, indicating significant discrepancies between H-shares and A-shares [1] Group 1: Top AH Premium Rates - Northeast Electric (00042) has the highest AH premium rate at 831.03%, with H-share priced at 0.290 HKD and A-share at 2.25 CNY [1] - Zhejiang Shibao (01057) follows with a premium rate of 347.33%, H-share at 5.810 HKD and A-share at 21.7 CNY [1] - Sinopec Oilfield Service (01033) ranks third with a premium rate of 304.44%, H-share at 0.900 HKD and A-share at 3.04 CNY [1] Group 2: Bottom AH Premium Rates - Contemporary Amperex Technology (03750) has the lowest AH premium rate at -13.97%, with H-share priced at 513.500 HKD and A-share at 368.82 CNY [1] - China Merchants Bank (03968) has a premium rate of -3.80%, H-share at 49.220 HKD and A-share at 39.53 CNY [1] - Heng Rui Medicine (01276) shows a minimal premium rate of -0.35%, with H-share at 69.050 HKD and A-share at 57.45 CNY [1] Group 3: Top Deviation Values - Sinopec Oilfield Service (01033) leads in deviation value at 26.29%, indicating a significant difference from its average premium rate [1] - Beijing Jingcheng Machinery Electric (00187) has a deviation value of 22.66% [1] - Longpan Technology (02465) ranks third with a deviation value of 19.24% [1] Group 4: Bottom Deviation Values - Junda Co., Ltd. (02865) has the lowest deviation value at -66.46%, indicating a substantial drop from its average premium rate [1] - Zhejiang Shibao (01057) follows with a deviation value of -42.67% [1] - Yangtze Optical Fibre and Cable (06869) shows a deviation value of -33.26% [1]

来源：新浪证券-红岸工作室 2月9日，弘业期货涨1.20%，成交额7316.66万元，换手率0.95%，总市值102.29亿元。 异动分析 期货概念+创投+国企改革 1、弘业期货股份有限公司主要从事商品期货经纪、金融期货经纪、期货投资咨询、资产管理、基金销 售、金融资产投资业务。是期货行业首家A+H股上市公司。 2、公司认缴弘瑞新时代创业投资有限公司，出资金额 2,200 万元，持股比例为 22%。弘瑞新时代的主 要经营地为江苏省南京市，主营业务为创业投资和管理咨询。 3、公司属于国有企业。公司的最终控制人为江苏省政府国有资产监督管理委员会。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 主力没有控盘，筹码分布非常分散，主力成交额1796.44万，占总成交额的1.06%。 技术面：筹码平均交易成本为10.94元 该股筹码平均交易成本为10.94元，近期该股获筹码青睐，且集中度渐增；目前股价在压力位10.47和支 撑位9.88之间，可以做区间波段。 今日主力净流入-66.91万，占比0.01%，行业排名7/27，连续2日被主力资金减仓；所属行业主力净流 入-2.35 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Holly Futures （ 於中華人民共和國註冊成立的股份有限公司 ， 中文公司名稱蘇豪弘業期貨股 份有限公司 ， 在香港 以 Holly Futures 的名義開展業務 ） ( 「 本 公 司 」 ) （股 份 代 號：3678） 海外監管公告 蘇豪弘業期貨股份有限公司 關於召開2026年第一次臨時股東會的通知 本公告乃本公司根據香港聯合交易所有限公司證券上市規則第13.10B條而作 出。 茲 載 列 本 公 司 於 深 圳 證 券 交 易 所 網 站 刊 發 之《蘇 豪 弘 業 期 貨 股 份 有 限 公 司 關 於 召 開2026年 第 一 次 臨 時 股 東 會 的 通 知》，僅 供 參 閱。 承董事會命 董事長兼執行董事 儲開榮先生 中國南京 2026年2月6日 於 本 公 告 日 期，董 事 會 成 員 包 括 執 行 董 事 儲 ...

Holly Futures （ 於 中 華 人 民 共 和 國 （ 「 中 國 」 ） 註 冊 成 立 的 股 份 有 限 公 司 ， 中 文 公 司 名 稱 蘇 豪 弘 業 期 貨 股 份 有 限 公 司（前稱弘業期貨股份有限公司） ， 在 香 港 以 Holly Futures 的 名 義 開 展 業 務 ) ( 「 本 公 司 」 ) （股 份 代 號：3678） 2. 請填上以 閣下名稱登記的股份數目。 本人╱吾等 （附註1） 地址為 為本公司股本中每股人民幣1.00元 股H股的登記持有人 （附註2） ，謹此知會 本公司本人╱吾等擬出席（親身或委派代表）本公司將於2026年3月3日（星期二）下午二時正假座中國江 蘇省南京市建鄴區江東中路399號金融城二期A4幢21樓2105會議室舉行本公司2026年第一次臨時股東 會（「臨時股東會」）或其任何續會。 日期：2026年 月 日 簽署： 附註： 1. 請用正楷填上全名（中文或英文）及註冊地址（股東名冊所示地址）。 將於2026年3月3日（星期二）舉行之 2026年第一次臨時股東會（或其任何續會）之回條 致：本公司 3. 請填妥及簽署回條，並於2026年2月 ...

Holly Futures （ 於 中 華 人 民 共 和 國 （ 「 中 國 」 ） 註 冊 成 立 的 股 份 有 限 公 司 ， 中 文 公 司 名 稱 蘇 豪 弘 業 期 貨 股 份 有 限 公 司（前稱弘業期貨股份有限公司） ， 在 香 港 以 Holly Futures 的 名 義 開 展 業 務 ) ( 「 本 公 司 」 ) 地址為 為本公司股本中每股人民幣1.00元 股H股之登記持有人 茲委任 （附註3） 大會主席或 地址為 作為本人╱吾等受委代表並代表本人╱吾等出席本公司將於2026年3月3日（星期二）下午二時正假座中國江蘇省南京市建 鄴區江東中路399號金融城二期A4幢21樓2105會議室舉行之2026年第一次臨時股東會（「臨時股東會」）（或其任何續會）， 藉以審議及酌情通過日期為2026年2月6日的大會通告所載以下決議案，並按下文所指示於該大會上就決議案投票，或倘 無作出指示，則作為本人╱吾等的受委代表酌情投票。 | 審議及批准有關建議委任王宇偉先生為本公司獨立非執行董事及 | | | | | | --- | --- | --- | --- | --- | | 作為普通決議案 建議董事 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不就因本通告全部或任何部分內容而產生或因依賴該 等內容而引致的任何損失承擔任何責任。 Holly Futures （ 於 中 華 人 民 共 和 國 （ 「 中 國 」 ） 註 冊 成 立 的 股 份 有 限 公 司 ， 中 文 公 司 名 稱 蘇 豪 弘 業 期 貨 股 份 有 限 公 司（前稱弘業期貨股份有限公司） ， 在 香 港 以 Holly Futures 的 名 義 開 展 業 務 ) 董事長兼執行董事 儲開榮先生 ( 「 本 公 司 」 ) （股 份 代 號：3678） 臨時股東會通告 茲通告本公司謹訂於2026年3月3日（星期二）下午二時正假座中國江蘇省南京市建鄴區江東 中路399號金融城二期A4幢21樓2105會議室舉行2026年第一次臨時股東會（「臨時股東會」），藉以 考慮及酌情通過以下決議案： 普通決議案 1. 審議及批准有關建議委任王宇偉先生為本公司獨立非執行董事及建議董事薪酬的決 議案。 承董事會命 蘇豪弘業期貨股份有限公司 中國南京 2026年2月6日 附註： ...