Summary of Key Points Core Viewpoint - In January 2026, the A-share market saw a total of 9 new listed companies, a decrease of 25% compared to the same period last year, while the net fundraising amount increased by 33.79% to 8.425 billion yuan [1]. Group 1: IPO Performance - A total of 9 new companies were listed in January 2026, with 3 on the Shanghai Stock Exchange, 1 on the Sci-Tech Innovation Board, and 5 on the Beijing Stock Exchange [1]. - The net fundraising amount for these new listings was 8.425 billion yuan, up from 6.297 billion yuan in the same month last year [1]. Group 2: Underwriter Performance - Eight underwriting institutions handled the IPOs of the 9 new listed companies in January 2026, with CICC ranking first with 2 deals [2]. - Seven other securities firms, including Shenwan Hongyuan, Guotou Securities, Dongwu Securities, Dongxing Securities, CITIC Securities, Guojin Securities, and Guotai Junan, each managed 1 deal [2][3]. Group 3: Law Firm Performance - Six law firms provided legal services for the IPOs, with Shanghai Jintiancheng, Beijing Zhonglun, and Beijing Kangda each handling 2 cases, ranking them jointly first [5]. - Beijing Jindu, Guohao (Shanghai), and Beijing Deheng each managed 1 case [5][6]. Group 4: Accounting Firm Performance - Six accounting firms provided auditing services for the new listings, with Rongcheng leading with 3 cases [7]. - Zhonghui ranked second with 2 cases, while Xinyong Zhonghe, Lixin, Tianjian, and Zhongxinghua each handled 1 case [7][8].

截至午间收盘，中证云计算与大数据主题指数下跌1.6%，中证芯片产业指数上涨0.3%，中证半导体材料设备主题指数下跌0.6%，半导体设备ETF易方达 （159558）半日净申购达2900万份。 国金证券认为，半导体设备是半导体产业链的基石，存储扩产与自主可控共振，国产化空间广阔。存储芯片架构从2D向3D深层次变革，随着3D DRAM技术 引入以及NAND堆叠层数向5xx层及以上演进，制造工艺中对高深宽比刻蚀及先进薄膜沉积的要求呈指数级提升，相关设备厂商将深度受益于工艺复杂度提 升带来的红利。 0.3% 半导体设备ETF易方达 跟踪中证半导体材料设备主题指数 该指数由40只业务涉及半 导体材料和半导体设备的公 司股票组成,聚焦未来计算 的硬件基础环节。 截至午间收盘 该指数涨跌 -0.6% 同标的指数中规模居第一 联际十九心 广州指数 该指数由50只业务涉及芯 片设计、制造、封装与测 试以及半导体材料、半导 体生产设备等公司股票组 成,聚焦未来计算的核心 硬件环节。 截至午间收盘 该指数涨跌 每日经济新闻 低费率(0.15%+0. 05%费 ...

Core Viewpoint - The global LNG market is expected to transition from a tight balance in 2025 to a loose supply situation by 2026, driven by a "super expansion cycle" in LNG production and a structural shift in supply and demand dynamics [1][2][3]. Group 1: Market Overview - From 2020 to 2024, the global natural gas industry experienced a complete cycle of demand collapse and low prices, followed by supply shocks and price increases, leading to a structural reshaping of global trade [1]. - The Netherlands TTF spot price has shown extreme volatility, and the EU's LNG import share has fluctuated, with the U.S. becoming the largest LNG exporter and China the largest importer [1]. - By 2025, the global natural gas market is projected to be in a structurally tight balance, with demand growth slowing to 0.9% and supply relying on new North American LNG projects [1]. Group 2: Supply Dynamics - The year 2026 marks a critical turning point for the global LNG "super expansion cycle," with an expected cumulative addition of approximately 202 million tons of LNG capacity from 2026 to 2030, a 40% increase from 2025 [2]. - The expansion of LNG capacity will be concentrated in North America and the Middle East, leading to a shift from a multi-polar supply structure to a "U.S.-Qatar dual-core" model [2]. - The share of pipeline gas is expected to decline due to geopolitical factors, enhancing LNG's pricing power in the global market [2]. Group 3: Demand Dynamics - From 2025 to 2030, the global natural gas demand is projected to grow at a compound annual growth rate of approximately 1.56%, with significant regional differentiation [2]. - Asia-Pacific is expected to see the fastest demand growth, with China as the core growth engine, while European demand is anticipated to contract due to renewable energy substitution and decarbonization policies [2]. Group 4: Price Trends - The global LNG market is expected to shift from a supply-constrained pricing system to one influenced by cost constraints and demand elasticity, with prices aligning more closely with U.S. and Qatari marginal supply costs [3]. - The Henry Hub price is projected to rise significantly by 2027, driven by LNG exports and electricity demand, marking the beginning of a new price upcycle in the U.S. market [4]. - The long-term cost of new natural gas wells in the U.S. is expected to stabilize between $3 and $3.5 per MMBtu, providing support for the Henry Hub price floor [4].

Summary of Key Points Core Viewpoint - In January 2026, the number of new companies listed on the A-share market decreased by 25% year-on-year, with a total of 9 new listings, while the net fundraising amount increased by 33.79% to 8.425 billion yuan compared to the same period last year [1]. Group 1: IPO Performance - A total of 8 underwriting institutions were involved in the IPO business for the 9 new listed companies in January 2026 [2]. - China International Capital Corporation (CICC) ranked first with 2 IPOs, while 7 other securities firms, including Shenwan Hongyuan, Guotou Securities, Dongwu Securities, Dongxing Securities, CITIC Securities, Guojin Securities, and Guotai Junan, each handled 1 IPO [3][4]. Group 2: Legal Services - Six law firms provided legal services for the 9 new listed companies' IPOs in January 2026 [5]. - Shanghai Jintiancheng, Beijing Zhonglun, and Beijing Kangda ranked jointly first, each with 2 IPOs, while Beijing King & Wood Mallesons, Guohao (Shanghai), and Beijing Deheng each handled 1 IPO [6][7]. Group 3: Audit Services - Six accounting firms provided auditing services for the 9 new listed companies' IPOs in January 2026 [8]. - Rongcheng ranked first with 3 IPOs, followed by Zhonghui with 2 IPOs, and Xinyong Zhonghe, Lixin, Tianjian, and Zhongxinghua each handled 1 IPO [9][10].

国金证券股份有限公司（以下简称"本公司"）于2024年1月29日发行了国金证券股份有限公司2024年面 向专业投资者公开发行公司债券（第一期）（债券简称：24国金01、债券代码：240564）,发行总额为 人民币15亿元，票面利率为2.83%，发行期限为3年。详见公司于2026年1月22日登载于上海证券交易所 网站（http://www.sse.com.cn）的《国金证券股份有限公司2024年面向专业投资者公开发行公司债券 （第一期）2026年付息公告》。 2026年1月29日，本公司"24国金01"公司债券付息完成，付息总额为人民币42,450,000.00元。 特此公告。 证券代码：600109 证券简称：国金证券 公告编号：临2026－8 债券代码：240564 债券简称：24国金01 国金证券股份有限公司 关于"24国金01"公司债券付息完成的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 国金证券股份有限公司 董事会 二〇二六年一月三十日 ...

证券日报网讯1月29日，国金证券在互动平台回答投资者提问时表示，公司三季报并未披露扣除客户交 易结算资金后的资产负债率，该指标通常在年报与半年报中予以披露。 ...

证券日报网讯1月29日，国金证券在互动平台回答投资者提问时表示，公司薪酬管理坚持市场化、绩效 导向和长期激励原则，旨在吸引和留住优秀人才，保障公司业务稳健发展。公司股价易受宏观市场等多 重因素影响，公司将持续优化薪酬与激励体系，使其更加契合公司战略目标和股东长期利益，实现员工 成长与企业价值提升的良性互动。 ...

| 证券代码：600109 | 证券简称：国金证券 | | 公告编号：临 2026－8 | | --- | --- | --- | --- | | 债券代码：240564 | 债券简称：24 01 | 国金 | | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 国金证券股份有限公司 关于"24 国金 01"公司债券付息完成的公告 董事会 二〇二六年一月三十日 国金证券股份有限公司（以下简称"本公司"）于 2024 年 1 月 29 日发行了国金证券股份有限公司 2024 年面向专业投资者公开发行 公司债券（第一期）（债券简称：24 国金 01、债券代码：240564）, 发行总额为人民币 15 亿元，票面利率为 2.83%，发行期限为 3 年。 详 见 公 司 于 2026 年 1 月 22 日 登 载 于 上 海 证 券 交 易 所 网 站 （http://www.sse.com.cn）的《国金证券股份有限公司 2024 年面向 专业投资者公开发行公司债券（第一期）2026 年付息公告》。 2026 年 1 月 29 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 来源：基本面力场 最近有一家公司正在申请于北交所IPO，公司全称是鹤壁海昌智能科技股份有限公司，股票简称海昌智 能（874519.NQ），保荐机构为国金证券（600109.SH），保荐代表人是周刘桥、解明。 公开资料显示，海昌智能主要从事高性能线束装备制造，产品作为线束生产的核心设备，下游客户中， 第一大客户为关联方、目前同样在申请IPO的天海电子，其他大客户还包括比亚迪（002594.SZ）、立 讯精密（002475.SZ）等。 更有意思的是，关于"战略低价客户"的销售细节信息，海昌智能全部申请了豁免披露。哪怕是在《第二 轮审核问询函》中，监管部门明确要求公司"说明天海电子与战略低价客户比亚迪、捷翼科技相同或类 似产品毛利率比较情况，分析实际定价时加成利润率的变动情况及与比亚迪、捷翼科技的比较情况"。 说起来，海昌智能与天海电子"本是同根生"，早先都是中概股天海电器的组成部分，后于2016年私有化 退市；再到2020年5月，天海电子剥离汽车线束生产自动化装备业务，海昌智能实现独立经营。目前的 状态则是，海昌智能和天海电子携手冲刺IPO，总体看下来，是不是挺会 ...

Core Viewpoint - The bond issuance by securities firms has accelerated significantly at the beginning of 2026, with a total of 2,650 billion yuan approved for issuance, reflecting a 216.53% increase compared to the same period in 2025 [1][5][6]. Group 1: Bond Issuance Overview - On January 27, Guolian Minsheng Securities announced the approval to issue bonds totaling 180 billion yuan and its subsidiary Minsheng Securities 80 billion yuan, with approvals valid for 24 months [2][3]. - As of January 26, 2026, securities firms have cumulatively issued bonds amounting to 2,380.3 billion yuan, a significant increase from 752 million yuan in the same period of 2025 [5][6]. - The bond issuance includes various types such as perpetual subordinated bonds and technology innovation bonds, indicating a diversification in the types of bonds being issued [6][7]. Group 2: Market Dynamics and Trends - The surge in bond issuance is attributed to favorable market conditions and the increasing capital needs of securities firms, driven by the overall positive trend in the capital market [5][6]. - The current low interest rate environment provides an advantageous window for securities firms to engage in debt financing, allowing them to enhance their capital adequacy and invest in diversified business areas [5][6]. - The issuance of technology innovation bonds has gained momentum, supported by regulatory policies that encourage financial institutions to fund technology innovation [6][7]. Group 3: Future Outlook - Analysts suggest that the concentrated bond issuance at the beginning of the year is a common practice among securities firms to secure operational capital for the year ahead [7]. - With expectations of a prolonged bull market in China's capital market, securities firms will require more capital to support diversified business operations [7]. - The trend of "Matthew Effect" is evident, where leading securities firms continue to expand their issuance scale, while smaller firms face constraints in financing capabilities [7].