Core Viewpoint - The company is centralizing its financial management functions at its headquarters to enhance operational efficiency and support business development [1] Group 1: Financial Management Strategy - The company has established a financial shared service center under its finance department to streamline financial operations [1] - The company is implementing technologies such as OCR intelligent recognition, one-click tax reporting, bank-enterprise direct connection, and imaging systems to improve the standardization and automation of financial processes [1] Group 2: Digital Transformation - The company aims to continuously optimize its financial management system in response to external environmental changes and internal management needs [1] - The focus is on accelerating the digital transformation of finance to enhance automation and intelligence, thereby promoting high-quality development [1]

1. Report Industry Investment Rating - Not provided in the given content 2. Report's Core View - The bond market is continuously recovering, with the net inflow of interest - rate bond ETFs turning positive. The scale of interest - rate bond and credit - bond ETFs may increase in the future. Short - term financing ETFs are favored due to year - end cash withdrawal and redemption needs, and there may be an opportunity for incremental funds in science - innovation bond ETFs and benchmark market - making credit - bond ETFs after the Chinese New Year [2][6]. 3. Summary According to Relevant Catalogs 3.1 各类债券 ETF 资金净流入情况 (Net Inflow of Funds for Various Bond ETFs) - The bond market is in continuous recovery, and the net inflow of interest - rate bond ETFs has turned positive. Last week, the net inflow of funds for interest - rate bond ETFs, credit - bond ETFs, and convertible - bond ETFs was +1.268 billion yuan, - 7.003 billion yuan, and +1.096 billion yuan respectively, with a total net inflow of - 4.639 billion yuan in the bond ETF market. The scale of the bond ETF market is 721.328 billion yuan, down 0.57% from the previous week's close and 13.01% from the beginning of the year, but its proportion in the total ETF market has increased by 28bp [2][5]. - Short - term financing ETFs, treasury - bond ETFs, and convertible - bond ETFs led in terms of net inflow of funds last week, with amounts of +3.256 billion yuan, +1.293 billion yuan, and +1.096 billion yuan respectively. Science - innovation bond ETFs and benchmark market - making credit - bond ETFs had relatively large net outflows, with amounts of - 8.056 billion yuan and - 2.453 billion yuan respectively [6]. 3.2 各类债券 ETF 份额及代表产品净值走势 (Share and Net Value Trends of Representative Products of Various Bond ETFs) - The shares of short - term financing ETFs and treasury - bond ETFs have increased. As of February 6, 2026, the shares of treasury - bond, policy - financial bond, local - bond, benchmark market - making credit - bond, science - innovation bond, corporate - bond, short - term financing, urban investment - bond, and convertible - bond ETFs changed by +1.8%, 0.0%, - 0.2%, - 2.3%, - 2.8%, 0.0%, +5.0%, +0.9%, and +1.5% respectively compared to the previous week's close, with a total change of +0.3% for bond - type ETFs [12][20]. - The net values of major bond ETFs generally increased, while the net value of convertible - bond ETFs declined. As of February 6, 2026, the net values of 30 - year treasury - bond ETF, policy - financial bond ETF, 0 - 4 - year local - bond ETF, corporate - bond ETF, short - term financing ETF, urban investment - bond ETF, and convertible - bond ETF changed by 0.68%, 0.23%, 0.06%, 0.03%, 0.04%, 0.03%, and - 0.02% respectively compared to the close on January 30, 2026 [21]. 3.3 各基准做市信用债 ETF 份额及净值走势 (Share and Net Value Trends of Each Benchmark Market - Making Credit - Bond ETF) - The shares of existing 8 credit - bond ETFs continued to have a net outflow. As of February 6, 2026, the shares changed by - 2.82%, no change, - 0.91%, no change, - 4.95%, - 1.48%, - 3.74%, and - 2.70% respectively compared to the close on January 30, 2026 [26]. - The net values of the 8 credit - bond ETFs increased slightly. As of February 6, 2026, the net values changed by 0.03%, 0.03%, 0.02%, 0.03%, 0.02%, 0.01%, 0.02%, and 0.01% respectively compared to the close on January 30, 2026 [27]. 3.4 各科创债 ETF 份额及净值走势 (Share and Net Value Trends of Each Science - Innovation Bond ETF) - Most science - innovation bond ETF products had a net outflow of shares. The total net inflow of shares last week was - 67.16 million, a 2.36% decrease from the previous week. The top three products in terms of share size were Science - Innovation Bond ETF Jiashi, Science - Innovation Bond ETF Yinhua, and Science - Innovation Bond ETF Penghua. The top three products with net outflows were Science - Innovation Bond ETF Jiashi, Science - Innovation Bond ETF Huitianfu, and Science - Innovation Bond ETF Fuguo [32][33]. - The net values of science - innovation bond ETFs continued to rise. As of February 6, 2026, the top - ranked products in terms of net value were Science - Innovation Bond ETF Wanjia, Science - Innovation Bond ETF Yongying, and Science - Innovation Bond ETF Huatai Bairui. The median net values of the first - batch and second - batch science - innovation bond ETFs increased by 0.02% and 0.03% respectively compared to the previous week's close [34]. 3.5 上周单只债券 ETF 市场表现情况 (Market Performance of Single Bond ETFs Last Week) - Convertible - bond ETFs led in terms of decline. Most bond ETF product net values increased last week, with 30 - year treasury - bond ETF and 30 - year treasury - bond ETF Boshi leading the increase, up 0.93% and 0.92% respectively. Only convertible - bond ETF and Shanghai - Stock - Exchange Convertible - Bond ETF had a slight decline in net value, down 0.30% and 0.23% respectively [37]. - In terms of premium - discount rates, 30 - year treasury - bond ETF Boshi, 30 - year treasury - bond ETF, and treasury - bond ETF had leading premium rates. Among science - innovation bond ETFs, the premium - discount performance of each product was differentiated, with Science - Innovation Bond ETF Yinhua and Science - Innovation Bond ETF Fuguo having a slight premium [37]. - In terms of scale changes, short - term financing ETF (+3.256 billion yuan), 30 - year treasury - bond ETF (+842 million yuan), and 30 - year treasury - bond ETF Boshi (+831 million yuan) had the highest net inflow of funds [37]. 3.6 基准做市信用债和科创债 ETF 的 PCF 清单边际变化 (Marginal Changes in the PCF Lists of Benchmark Market - Making Credit - Bond and Science - Innovation Bond ETFs) - The estimated change in the modified duration of Credit - Bond ETF Haifutong was relatively large (- 0.14 years). The average modified duration of new bonds added to the PCF lists of Corporate - Bond ETF Nanfang and Credit - Bond ETF Huaxia was 4.35 years and 1.64 years respectively. For products tracking the Shenzhen - Market - Made Corporate - Bond Index, the average modified duration of new bonds added to the PCF lists of Credit - Bond ETF Guangfa, Credit - Bond ETF Boshi, and Credit - Bond ETF Dacheng was 2.78 years, 2.72 years, and 0.21 years respectively [39]. - Bonds such as 26 Zhongjin K1, Shanmei KY07, and 24 Yankuang K4 were repeatedly included in the PCF lists of benchmark market - making credit - bond ETFs, mainly from industries such as Coal II, Non - Banking Finance, Construction, and Public Utilities II. Bonds such as 24 Baju K1, 24 Zhongmei K2, and 25 Zhaozheng K2 were repeatedly removed from the PCF lists of benchmark market - making credit - bond ETFs [40]. - The estimated changes in the modified durations of Science - Innovation Bond ETF Tianhong and Science - Innovation Bond ETF Jiashi were relatively large, - 0.12 years and - 0.09 years respectively. The average modified duration of new bonds added to the PCF list of Science - Innovation Bond ETF Tianhong was significantly longer than that of similar bonds, at 6.53 years. The average modified duration of new bonds added to the PCF list of Science - Innovation Bond ETF Boshi was significantly shorter than that of similar bonds, at 2.26 years [43]. - Bonds such as 25 Zhezi K2, 25CHNG2K, and Jingzi K14 were repeatedly included in the PCF lists of science - innovation bond ETFs, while bonds such as 23 Yuehuanbao K1, 24TCLK1, and 25 Jingzi K2 were removed from multiple science - innovation bond ETFs [45].

Group 1: Consumer Building Materials - The demand for traditional building materials is expected to rebound as the contraction in new real estate demand slows and the demand for stock updates gradually releases [1] - In 2025, national fixed asset investment (excluding rural households) is projected to be 48.5 trillion yuan, a year-on-year decrease of 3.8%, while real estate development investment is expected to be 8.28 trillion yuan, down 17.2% year-on-year [1] - The area of new housing starts is expected to decline by 20.4% year-on-year to 588 million square meters, only 25.87% of the peak value in 2019, indicating that the drag on demand from the new real estate market has been fully reflected [1] - The stock market for urban residential properties in China is approximately 33.55 billion square meters, with about 37.4 million housing units, indicating significant growth potential for renovation and upgrading of existing properties [1] - Policies aimed at stimulating demand for commercial housing, such as "stopping the decline and stabilizing" and "ensuring delivery," are expected to support the completion and sales of commercial housing [1] Group 2: Fiberglass Industry - The downstream application fields of fiberglass continue to expand, and the product structure of the industry is continuously optimized, with strong demand for specialty fiberglass fabrics such as electronic fiberglass cloth [2] - The industry is expected to see continuous improvement in profitability due to the explosive demand for computing power, leading to tight supply of specialty fiberglass fabrics like low-dielectric electronic cloth [2] - The overall price level of the industry is on the rise, and leading companies are expected to benefit significantly from industry dividends [2] Group 3: Infrastructure Demand - During the 14th Five-Year Plan, it is expected that over 700,000 kilometers of underground pipeline networks will be constructed and renovated, with new investment demand exceeding 5 trillion yuan [3] - There is a broad demand for upgrading and renovating underground pipeline networks for urban gas, water supply, sewage, drainage, and heating [3] Group 4: Companies with Second Growth Curve - Jinjing Technology (600586.SH) is expected to benefit from the significant production ramp-up in the downstream perovskite photovoltaic component industry, indicating broad future growth potential [4] - Puyang Refractories (002225.SZ) is expected to benefit from the demand space created by the replacement of wet metallurgy technology paths, with performance expected to be realized as production capacity is released [4] - Companies like Jinjing Technology and Puyang Refractories are recommended as they show significant incremental potential in their second growth curves [4]

Core Viewpoint - Southwest Securities has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue corporate bonds totaling up to 14 billion yuan to professional investors [1] Group 1: Stock Performance - As of February 6, 2026, Southwest Securities closed at 4.61 yuan, a 0.66% increase from the previous week's closing price of 4.58 yuan [1] - The stock reached a weekly high of 4.69 yuan on February 5, 2026, and a low of 4.46 yuan on February 2, 2026 [1] - The company's current total market capitalization is 30.634 billion yuan, ranking 38th out of 50 in the securities sector and 680th out of 5,186 in the A-share market [1] Group 2: Corporate Announcement - The CSRC has issued a formal approval for Southwest Securities to issue corporate bonds with a total face value not exceeding 14 billion yuan [1] - The issuance must strictly follow the fundraising prospectus submitted to the Shanghai Stock Exchange [1] - The approval is valid for 24 months from the date of registration, allowing the company to issue the bonds in tranches during this period [1] - The company is committed to adhering to relevant laws and regulations and fulfilling its information disclosure obligations throughout the issuance process [1]

证券代码：600369 证券简称：西南证券 公告编号：临2026－004 西南证券股份有限公司 关于控股股东变更进展情况的公告 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法律责任。 一、本次控股股东变更的基本情况 2025 年 1 月，为深入贯彻落实党的二十届三中全会精神和重庆市委六届四 次五次六次全会精神及重庆市委、市政府关于突出主责主业强化核心功能整合优 化改革攻坚的工作部署，重庆渝富控股集团有限公司（以下简称渝富控股）通过 国有股权无偿划转受让重庆渝富资本运营集团有限公司（以下简称渝富资本）持 有的西南证券股份有限公司（以下简称公司）1,960,661,852 股股份，占公司总股 本的 29.51%（有关内容详见相关信息披露义务人于 2025 年 1 月 8 日在上海证券 交易所网站披露的《西南证券股份有限公司收购报告书》）。 2026 年 2 月 7 日 1 截至本公告日，上述收购事项正按规定申请行政许可，且需待取得上海证券 交易所的合规确认后向中国证券登记结算有限责任公司上海分公司申请办理股 份转让过户登记，具有不确定性。 ...

Core Viewpoint - Southwest Securities announced a significant change in its ownership structure, with Chongqing Yufu Holding Group acquiring a 29.51% stake, making it the controlling shareholder of the company [1] Group 1: Ownership Change - Chongqing Yufu Holding Group acquired 1,960,661,852 shares from Chongqing Yufu Capital Operation Group, representing 29.51% of Southwest Securities' total share capital [1] - Following the acquisition, Yufu Capital will no longer hold any shares in Southwest Securities, and Yufu Holding will directly own the aforementioned shares [1] Group 2: Control and Governance - The actual controller of Southwest Securities remains the Chongqing Municipal State-owned Assets Supervision and Administration Commission [1]

Group 1 - Weichai Power announced that it will accept investor research from February 3 to February 5, 2026, with participation from company representatives Wang Li and Li Tingting [1] - The company will address questions raised by investors during this period [1] Group 2 - The news also includes an investigation into the legality of personal stock trading by fund managers, revealing unexpected answers from several leading public funds [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 公告送出日期：2026年2月6日 1.公告基本信息 ■ 2.基金募集情况 ■ 注：（1）本基金募集期间的信息披露费、会计师费、律师费以及其他费用，不从基金财产中列支。 国泰基金管理有限公司 二零二六年二月六日 国泰基金管理有限公司关于旗下 （2）本基金管理人高级管理人员、基金投资和研究部门负责人认购本基金份额总量的数量区间为0份； 本基金的基金经理认购本基金份额总量的数量区间为0份。 3.其他需要提示的事项 自基金合同生效之日起，本基金管理人正式开始管理本基金。 基金份额持有人可以到销售机构的网点查询交易确认情况，也可以通过本基金管理人的网站 （www.gtfund.com）或客户服务电话（400-888-8688）查询交易确认情况。 基金管理人可根据实际情况依法决定本基金开始办理申购的具体日期，基金管理人自基金合同生效之日 起不超过3个月开始办理赎回。在确定申购开始与赎回开始时间后，基金管理人应在申购、赎回开放日 前依照《信息披露办法》的有关规定在规定媒介上公告申购与赎回的开始时间。 风险提示：本基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但 ...

（记者 王晓波） 每经头条（nbdtoutiao）——仅老年独居者就数千万，谁能帮他们从容老去？意定监护在国内诞生已14 年，距全面落地还差"最后一公里" 每经AI快讯，潍柴重机发布公告称，2026年2月3日至2月5日期间，潍柴重机接受西南证券等投资者调 研，公司柳国超参与接待，并回答了投资者提出的问题。 ...

Group 1 - The core point of the article highlights a collective decline in the three major indices, while the banking sector shows strength, and the securities and fintech sectors experience an afternoon rally [1] - As of 1:55 PM, the securities ETF Huaxia (515010) rose by 0.81%, with its holdings such as Hualin Securities hitting the daily limit, and other stocks like Huaxin Co., Guosheng Securities, and Southwest Securities also performing well [1] - The financial technology ETF Huaxia (516100) saw a slight decline of 0.22% [1] Group 2 - The Shanghai Stock Exchange reported that in January, the number of new A-share accounts reached 4.9158 million, representing a month-on-month increase of 89% and a year-on-year increase of 213%, marking the highest level in nearly 15 months since November 2024 [1] - This surge in new A-share accounts indicates a sustained boom in brokerage business, driven by the upward trend in A-shares over the past year, which has significantly boosted brokerage and proprietary trading business, leading to an overall performance recovery [1] - The management fee rate for the securities ETF Huaxia (515010) and the fintech ETF Huaxia (516100) is 0.15%, with a custody fee rate of 0.05%, which are the lowest among comparable funds, facilitating investors' access to sector trends [1]