| 序号 | | | | | --- | --- | --- | --- | | | 证券代码 ◆ | 证券简称 ◆ | 交易日期⇒ | | 1 | 601318.SH | 中国部安 | 2026-01-09 | | 2 | 002202.SZ | 金风科技 | 2026-01-09 | | ന | 300308.SZ | 中际旭创 | 2026-01-09 | | ব | 300418.SZ | 昆仑万维 | 2026-01-09 | | 5 | 600030.SH | 中信证券 | 2026-01-09 | | 6 | 300136.SZ | 信维通信 | 2026-01-09 | | 7 | 300450.SZ | 先导智能 | 2026-01-09 | | 8 | 002173.SZ | 创新医疗 | 2026-01-09 | | ರಿ | 603179.SH | 新泉股份 | 2026-01-09 | | 10 | 300750.SZ | 宁德时代 | 2026-01-09 | 中泰证券研报表示，中国商业航天正从"探索验证"阶段向"成长爆发"期过渡，行业迎来关键发展拐点。预计在"十五五"期间，随着政 ...

本周重要财经事件：（1）1月12日，七国集团(G7)财长会议召开。（2）1月14日，欧佩克公布月度原油 市场报告、EIA公布月度短期能源展望报告。（3）1月15日。美联储公布经济状况褐皮书。 后市市场将如何演绎？且看最新十大券商策略汇总。 上周，A股三大指数集体上涨，截至1月9日站上4100点，录得"16连阳"。沪指周涨3.82%，深证成指周 涨4.40%，创业板指周涨3.89%。 板块上，脑机接口、医疗服务、军工电子等板块领涨。机场航运、银行、海南自贸区板块下跌。 1. 中信证券：继续聚焦资源和传统制造定价权的提升 从当前的量价和风偏指标来看，短期市场热度偏高，但情绪指标还没有转弱迹象，预计主题、小票轮动 的震荡上行格局可能还会延续到两会前后，直至内需预期的上修，市场才会回到基本面驱动状态。不 过，抛开短期的市场躁动，站在全年维度，真正具备持续入场体量的配置型资金今年对权益组合降低波 动的诉求是更高的，需要考虑的是这部分可持续的"大钱"会持续流向的方向。配置上建议资源和传统制 造定价权提升逻辑打底，增配非银金融，兼顾反共识品种降低组合波动。 2. 广发证券：2026年A股估值有望打破历史规律 展望2026年 ...

Company Overview - Hangzhou Xinjian Electromechanical Transmission Co., Ltd. (referred to as "Xinjian Transmission") was established on January 8, 1999, and specializes in the research and production of products such as rolled worm gears, seat horizontal actuators, planetary roller screw linear electric drive joints, and rotary electric drive joints [1]. - The registered capital of Xinjian Transmission is 83.9717 million yuan, with the legal representative being Dan Xinping, who holds 60.8% of the voting rights [2]. Recent Developments - Xinjian Transmission has initiated the listing guidance process with CITIC Securities Co., Ltd. as the guiding institution [1]. - The company was previously listed on the New Third Board in April 2017 but terminated its listing in August 2023 due to long-term strategic and operational needs [2]. Financial Performance - In the last annual report before delisting, Xinjian Transmission reported a revenue of 184 million yuan for the year 2022, with a net profit attributable to the parent company of 12 million yuan after deducting non-recurring gains and losses [2].

该机构表示，预计2026年煤价底部抬升将带动行业均价中枢上移，上市公司业绩或跟随煤价有所改善， 红利龙头若维持分红比例不变，股息率也有小幅提升。预计板块2026年会出现阶段性行情，行情驱动或 来自于红利风格的轮动、或来自于阶段性煤价预期差带来的反弹行情。建议沿三条主线寻找投资机会， 一是逢低配置、长期持有动力煤红利龙头；二是关注有产能扩张、政策受益的Alpha公司；三是把握煤 价预期差驱动的反弹行情，建议届时阶段性关注弹性大的公司。 中信证券研报指出，展望2026年，预计煤炭行业将延续供需双弱的格局，但供给宽松的幅度或有所收 窄。再考虑"反内卷"政策的托底，预计煤价底部可有效抬升，低价持续时间也有望缩短。再考虑全球煤 炭供需格局的改善对国际煤价形成支撑，国内煤价中枢有望上移，预计2026年国内煤炭均价涨幅约为 5%～7%。 ...

中信证券：主题、小票轮动格局还会延续 目前的市场仍处于一个配置型和量化资金富裕，存量交易型资金活跃，个股定价型资金匮乏的环境，市 场要走出基本面驱动的单边趋势行情，还有待超预期的内需变化发生。从资金节奏看，今年春节后仅两 周便临近两会，对于在当前躁动主线中踏空的资金而言，"暂缓入市、等待更清晰的基本面线索"是更理 性的选择——无论是提振内需的具体政策、城乡居民增收计划，还是行业"反内卷"的方向，都可待两会 期间线索明朗后再布局。当前市场的一致预期是 "政策难有强变化"，这一判断在静态视角下成立。但 动态来看，今年外部贸易环境的复杂度远超去年，任何不利变动都可能进一步加大仅靠外需实现5%左 右GDP 增速的难度，内需的关键性会愈发凸显，政策调整也可能随形势变化随时落地，不能固守固有 政策叙事做线性外推。对配置型资金而言，当下的市场躁动并非调仓追热点的时机，今年3月下旬至4月 才是关键的结构调整决策窗口。从过去20年的历史来看，当年1月涨幅前三的行业与全年涨幅前三的行 业重合的概率为29%，慢牛路还长，踏空的投资者也无需过度焦虑。 上周五市场震荡拉升，沪指高开高走突破4100点，深成指涨超1%。沪深两市成交额3. ...

Core Viewpoint - The coal industry is expected to maintain a weak supply and demand balance in 2026, but coal prices may perform better than in 2025 due to policy support, leading to improved profitability and dividend expectations for listed companies [1] Industry Summary - The coal sector is projected to experience a continuation of weak supply and demand dynamics in 2026 [1] - Policy support is anticipated to positively influence coal prices, resulting in better performance compared to 2025 [1] - Profitability and dividend expectations for listed companies in the coal industry are likely to improve [1] Investment Opportunities - There may be short-term opportunities in the sector due to market style rotation and differences in industry expectations as sentiment improves [1] - Continued focus is recommended on leading companies benefiting from industry dividends, those with alpha, and potential high earnings elasticity targets [1]

需求增长动力有限，化工耗煤或显著贡献增量。 智通财经APP获悉，中信证券发布研报称，2026年煤炭行业或将延续供需双弱的格局，但在政策托底 下，煤价表现或好于2025年，上市公司盈利、分红预期也有望跟随改善。在景气预期转暖的预期下，板 块或随市场风格轮动或行业预期差出现阶段性的机会。中信证券建议继续关注行业红利龙头、具备 alpha的公司以及潜在业绩弹性大的标的。 中信证券主要观点如下： 2026年政策及进口因素或限制国内供给，供给增量或维持低位。 2025年下半年，核查超产政策、安全监管收紧等因素推动国内产量释放阶段性放缓，7～11月国内原煤 产量同比连续下降。我们预计2026年相关政策对供给约束的影响依然存在。展望2026年，我们预计净新 增煤炭产量2800万吨，对应产量增速约0.6%。2025年内煤炭进口同比下降明显，我们预计2026年印尼 等国煤炭减产计划和出口政策调整或影响全球煤炭供给，国内动力煤进口或受影响进一步减量，考虑焦 煤进口量的小幅增长，我们预计整体煤炭进口减量或在1900～2000万吨。若再考虑国内"反内卷"政策的 影响，预计煤炭供给有更大的减量空间。 风险因素： 宏观经济波动，影响煤炭 ...

中信证券指出，2025年12月美国新增非农就业人数和失业率均低于预期。失业率下行至4.4%，新增非 农就业集中在个别服务业，本次非农报告依旧描绘了美国就业市场"低招聘+低裁员"的格局。2025全年 美国新增非农就业58.4万人，明显低于2023和2024年水平。经过疫情至今6年的调整，我们认为如今美 国就业市场已经处于供求相对平衡的状态。鉴于特朗普的非常规提前披露数据行为，我们建议后续加强 对白宫经济顾问委员会（CEA）相关新闻和研究的关注。降息预期方面，我们依旧预计美联储将在1月 议息会议暂停降息，并认为鲍威尔任期内或还有一次降息。 ...

Core Viewpoint - The coal industry is expected to maintain a weak supply and demand balance in 2026, but coal prices may perform better than in 2025 due to policy support, leading to improved profitability and dividend expectations for listed companies [1] Group 1: Industry Outlook - The coal industry is projected to continue experiencing a dual weakness in supply and demand in 2026 [1] - Policy support is anticipated to positively influence coal prices, resulting in better performance compared to 2025 [1] Group 2: Company Performance - Listed companies in the coal sector are expected to see improvements in profitability and dividend expectations [1] - There may be short-term opportunities in the sector due to market style rotation and differences in industry expectations as the outlook improves [1] Group 3: Investment Recommendations - Continued focus is recommended on leading companies with industry dividends, those with alpha, and targets with potential earnings elasticity [1]

Core Viewpoint - The coal industry is expected to maintain a weak supply and demand balance in 2026, but coal prices may perform better than in 2025 due to policy support, leading to improved profitability and dividend expectations for listed companies [1] Group 1: Industry Outlook - The coal industry is projected to continue a dual weakness in supply and demand in 2026 [1] - Policy support is anticipated to positively influence coal prices compared to 2025 [1] Group 2: Company Performance - Listed companies in the coal sector are expected to see improvements in profitability and dividend expectations [1] - There may be short-term opportunities in the sector due to market style rotation and differences in industry expectations [1] Group 3: Investment Recommendations - Continued focus is recommended on leading companies with industry dividends, those with alpha, and targets with potential earnings elasticity [1]