Group 1 - The commercial vehicle sector experienced a decline of 0.69% on January 12, with Yutong Bus leading the drop [1][3] - The Shanghai Composite Index closed at 4165.29, up 1.09%, while the Shenzhen Component Index closed at 14366.91, up 1.75% [1] - Major stocks in the commercial vehicle sector showed varied performance, with Jinlong Automobile increasing by 2.51% and Yutong Bus decreasing by 2.65% [1][3] Group 2 - The net outflow of main funds in the commercial vehicle sector was 505 million yuan, while retail investors saw a net inflow of 314 million yuan [3][4] - The trading volume for major stocks included 248,600 shares for Yutong Bus and 578,000 shares for Jianghuai Automobile, with transaction amounts of 784 million yuan and 2.851 billion yuan respectively [3][4] - The fund flow analysis indicated that retail investors had a significant net inflow in several stocks, including Jiangling Motors, which saw a net inflow of 11.05% [4]

Market News - China will release December import and export data on January 14, with exports expected to grow by 3.0% year-on-year, down from 5.9% in November, while imports are anticipated to decline by 2.9% [3] - The trade balance for December 2025 will also be published on January 14, with total goods trade from January to November 2025 reaching 41.21 trillion yuan, a year-on-year increase of 3.6% [3] Commodity Futures - The Shanghai Futures Exchange will adjust the price limit for platinum and palladium futures contracts to 16% starting from January 13, 2026, with the trading margin standard set at 18% [4] Energy Outlook - The U.S. Energy Information Administration (EIA) will release its Short-Term Energy Outlook report on January 13, maintaining the WTI crude oil price forecast for 2025 at slightly below $69 per barrel [5] U.S. Economic Data - The U.S. will release December CPI data on January 13, with core CPI expected to rebound significantly, predicted at 0.36% by Morgan Stanley and 0.38% by Bloomberg, both higher than the average of 0.08% in October and November [6] - Key economic indicators including October and November PPI and November retail sales will also be released, with expectations of moderate PPI growth and a 0.7% rebound in retail sales for November [6] Federal Reserve - The Federal Reserve will publish its latest Beige Book on January 14, indicating that government shutdowns and AI applications have weakened the job market, while rising tariffs and healthcare costs have increased business expenses [7] Earnings Season - The earnings season for Q4 2025 will commence this week, with major banks including JPMorgan, Citigroup, and Goldman Sachs set to report [8] Sector Events - The second China eVTOL Innovation Development Conference is scheduled for January 15-16, 2026, in Shanghai, focusing on the new commercial era of eVTOL [10] - The fourth Data Center Liquid Cooling & AI Chip Thermal Management Supply Chain Conference will be held on January 14-15, 2026, in Shenzhen [10] - China's first comprehensive law in the nuclear energy sector, the Atomic Energy Law, will take effect on January 15, 2026 [11] Individual Company News - Hangyu Technology announced on January 11 that it has repurchased 752,800 shares, with plans to sell them within six months [13] - Huadong Medicine's subsidiary has developed a breakthrough treatment for severe hypertriglyceridemia, which has been included in the list of breakthrough therapies by the National Medical Products Administration [13] - Jingfeng Mingyuan plans to acquire 100% of Sichuan Yichong Technology Co., with a key review meeting scheduled for January 16, 2026 [13] - TSMC has commenced research on its next-generation 1.4nm process, with risk trial production expected to start in 2027 [13] Lock-up Expiration - From January 12 to January 16, 2026, 23 companies will have lock-up shares released, totaling 2.434 billion shares with a market value of approximately 48.56 billion yuan [16] - The highest market value of lock-up shares released on January 12 is from Tianxin Pharmaceutical at 7.84 billion yuan [17] New Stock Calendar - Two new stocks are set to be issued this week, with a total issuance of approximately 34 million shares and expected fundraising of 1.909 billion yuan [19] Market Outlook - The current market enthusiasm is driven by concentrated inflows from previously cautious funds, with expectations for continued momentum in thematic and small-cap stocks until after the Two Sessions [22] - Guojin Securities suggests that the spring market is likely to perform well, with a focus on AI investments and the recovery of domestic manufacturing [23] - Everbright Securities anticipates sustained market heat but warns of potential cooling as the Lunar New Year approaches, recommending attention to sectors like electronics and power equipment [24]

Group 1 - The core viewpoint of the article is that Hanma Technology's subsidiary, Wuhu Fuma, is involved in land reserve activities, and any progress will be announced in future announcements [2] Group 2 - The company responded to investor inquiries on its interactive platform regarding the status of its land reserve activities [2] - The announcement indicates a potential development in the company's operations that may be of interest to investors [2]

Core Viewpoint - The commercial vehicle sector experienced a slight increase of 0.41% on January 9, with Jianghuai Automobile leading the gains. The Shanghai Composite Index rose by 0.92%, while the Shenzhen Component Index increased by 1.15% [1]. Group 1: Market Performance - Jianghuai Automobile closed at 50.53, up by 1.16% with a trading volume of 507,700 shares [1]. - Foton Motor and China National Heavy Duty Truck both saw increases of 0.69% and 0.54%, closing at 2.91 and 16.89 respectively [1]. - The overall trading volume for the commercial vehicle sector was significant, with Foton Motor achieving a transaction value of 294 million [1]. Group 2: Fund Flow Analysis - The commercial vehicle sector saw a net outflow of 80.51 million from institutional investors, while retail investors contributed a net inflow of 31.18 million [2]. - Among individual stocks, Zhongshun Vehicle had a net inflow of 12.14 million from institutional investors, while it faced a net outflow of 1.44 million from speculative funds [3]. - China National Heavy Duty Truck experienced a net inflow of 2.94 million from speculative funds, despite a net outflow of 3.27 million from retail investors [3].

汉马科技集团股份有限公司 证券代码：600375 证券简称：汉马科技 公告编号：临 2026-002 汉马科技集团股份有限公司 关于部分限售股上市流通的提示性公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为 其他 股份；股票认购方式为 网下 ，上市股数为 140,000,000股。 2024 年 2 月 23 日，汉马科技集团股份有限公司（以下简称"本公司"、"公司"、 "汉马科技"或"上市公司"）收到安徽省马鞍山市中级人民法院(以下简称"法 院")出具的(2024)皖 05 破申 21 号及(2024)皖 05 破申 21 号之一《决定书》，决 定对公司启动预重整并指定临时管理人（详见公司于 2024 年 2 月 24 日披露的《汉 马科技集团股份有限公司关于收到法院启动公司预重整并指定临时管理人决定书 的公告》，公告编号：临 2024-030）。 2024 年 3 月 1 日，全资子公司安徽华菱汽车有限公司(以下简称"华菱汽车")、 安徽星马专用汽车有限公司(以下简称"星马专汽" ...

华泰联合证券有限责任公司 关于汉马科技集团股份有限公司重整投资人受让资本公积 转增的部分限售股份上市流通的核查意见 华泰联合证券有限责任公司（以下简称"财务顾问"）作为汉马科技集团股份有限 公司（以下简称"公司"或"汉马科技"或"上市公司"）2024 年破产重整事项的财务 顾问，根据《中华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所股 票上市规则》《上海证券交易所上市公司自律监管指引第 13 号——破产重整等事项》 的相关规定，对上市公司重整投资人受让资本公积转增的部分限售股份将上市流通事项 进行了审慎核查，具体情况如下： 一、本次解除限售股份基本情况 2024 年 2 月 23 日，汉马科技收到安徽省马鞍山市中级人民法院(以下简称"法院") 出具的(2024)皖 05 破申 21 号及(2024)皖 05 破申 21 号之一《决定书》，决定对公司启 动预重整并指定临时管理人。 2024 年 3 月 1 日，全资子公司安徽华菱汽车有限公司(以下简称"华菱汽车")、安 徽星马专用汽车有限公司(以下简称"星马专汽")、安徽福马汽车零部件集团有限公司(以 下简称"福马零部件")、安徽福马电子科技有限公 ...

Group 1 - The company Hanma Technology announced that 140 million restricted shares will be unlocked and listed for trading on January 15, 2026, representing 8.73% of the company's total share capital [1]

Production Summary - In December 2025, Hanma Technology produced 1,451 trucks (including incomplete vehicles), a year-on-year increase of 131.42% from 627 units in the same month last year [1] - The cumulative production for 2025 reached 14,015 units, up 59.72% from 8,775 units in the previous year [1] - Electric medium and heavy trucks showed remarkable performance, with December production of 1,371 units, a significant increase of 196.11% compared to 463 units last year, and an annual cumulative production of 11,654 units, up 157.43% from 4,527 units [1] - Chassis assembly production in December was 11 units, with a cumulative production of 354 units for 2025, down 86.6% from 2,642 units last year [1] - Alcohol-hydrogen power system production in December was 192 units, a slight decrease of 3.52% from 199 units last year, with an annual cumulative production of 3,158 units, down 22.96% from 4,099 units [1] Sales Summary - In December 2025, truck sales (including incomplete vehicles) reached 1,206 units, a year-on-year increase of 93.27% from 624 units [2] - The cumulative sales for 2025 amounted to 14,005 units, up 58.45% from 8,839 units in the previous year [2] - Electric medium and heavy trucks had December sales of 1,126 units, a growth of 135.56% compared to 478 units last year, with an annual cumulative sales of 11,449 units, up 153.46% from 4,517 units [2] - Chassis assembly sales in December were 11 units, with a cumulative sales of 353 units for 2025, down 87.46% from 2,814 units last year [2] - Alcohol-hydrogen power system sales in December were 162 units, a decrease of 46% from 300 units last year, with an annual cumulative sales of 3,945 units, down 7.26% from 4,254 units [2]

Group 1 - Maduro denies all charges from the U.S. and claims he is still the President of Venezuela [2] - The U.S. has accused Maduro of drug terrorism conspiracy, cocaine smuggling conspiracy, and possession of firearms [2] - Maduro states he was forcibly taken from his home in Caracas [2] Group 2 - China condemns the U.S. for violating Venezuela's sovereignty and international principles [3] - The U.S. is accused of undermining multilateralism and threatening peace in Latin America and the Caribbean [3] Group 3 - Venezuela's oil exports have nearly dropped to zero due to U.S. sanctions and blockade [4] - The Venezuelan oil company is reducing production and closing some oil fields due to accumulated inventory [4] - Shortages of diluents for blending heavy crude oil are further restricting production activities [4] Group 4 - Trump claims the U.S. must have complete access to Venezuela's resources and asserts U.S. control over the country [5][6] - The U.S. Vice President's residence was attacked, with one suspect arrested [6] Group 5 - High expectations for Chinese stocks with projected annual growth of 15% to 20% in 2026 and 2027 [8] - Corporate earnings in China are expected to grow by 14% and 12% in 2026 and 2027, respectively [8] - Factors driving growth include AI applications, international expansion, and policies to reduce internal competition [8]

Group 1 - Fulin Precision's subsidiary plans to invest 6 billion yuan to build a high-end lithium iron phosphate project with an annual production capacity of 500,000 tons [11] - Feiwo Technology has completed the acquisition of 60% of Xinsai Aerospace, focusing on metal 3D printing services for commercial aerospace [2] - Zhongcai Technology expects a net profit increase of 73.79% to 118.64% in 2025 [30] Group 2 - Hengrui Medicine has received approval for clinical trials of HRS9531 injection in combination with HRS-5817 injection for treating obesity [2] - Deyun Co. announced that its actual controller has been arrested for illegal public deposit collection, but the company's operations remain normal [3] - Hengshi Technology's control is set to change as it enters a strategic cooperation agreement with New Base Information Technology Group [4] Group 3 - Zhejiang Mining plans to acquire 100% of Alaigyr Company, which holds core assets in lead-silver mines [5][6] - Guizhou Tire intends to invest in a project in Morocco to produce 6 million semi-steel radial tires annually, with a total investment of 299 million USD [7] - Dongfang Zircon plans to invest in a project to produce 10,000 tons of high-purity composite zircon oxide for new energy batteries [8] Group 4 - Xingsheng Group has received a project designation notice from a North American electric vehicle manufacturer, with a total sales amount of approximately 7.8 billion yuan [18] - Jin Di Co. plans to acquire a 3.36% stake in Baoshilai New Materials Technology for 21.6 million yuan [10] - Huayi Technology has signed a strategic cooperation agreement with Fujian Fuyou University to enhance research and development in alloy materials [6] Group 5 - Juxing Technology expects a net profit increase of 5% to 20% in 2025 [23] - Huayou Cobalt anticipates a net profit increase of 40.8% to 55.24% in 2025 [24] - Chifeng Gold expects a net profit increase of approximately 70% to 81% in 2025 [25]