（声明：文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。） 国海证券指出，展望2026年，煤炭行业供需关系预计将有改善，叠加政策托底，预计煤价中枢或有提 升，预计北港动力煤价中枢在750元左右、北港主焦煤均价在1550元左右，行业盈利能力有望得到一定 修复。与此同时，低利率时代背景下，煤炭板块的高股息价值是机构重要配置点。 1月7日，沪指微涨录得14连阳，创业板指冲高回落。从板块来看，煤炭板块持续拉升，大有能源、陕西 黑猫、安泰集团涨停，郑州煤电、潞安环能、山西焦煤、江钨装备等涨超6%，山西焦化、中煤能源、 金能科技等个股跟涨。 消息面上，大连商品交易所（大商所）焦煤、焦炭主力合约强势拉升，涨幅达8%并触及涨停，收盘分 别报1164元/吨、1773元/吨。 ...

1月7日，A股三大指数震荡调整，收盘集体上涨。上证指数微涨0.05%，收获14连阳，盘中逼近4100点；深证成指涨0.06%，创业板指涨0.31%。 全市场成交额超2.88万亿元，较上一交易日增加493亿元，超2100只个股上涨。 从盘面上看，光刻胶、煤炭开采加工、存储芯片、光刻机、可控核聚变等板块涨幅居前，脑机接口、互联网保险等板块集体调整。 今日，雷科防务收获"6连板"，冲上同花顺A股热股榜第一名。收盘报16.71元/股，总市值超220亿元。该股自2025年11月24日启动上涨行情，截至今日收 盘，区间累计涨幅已超188%。 1月6日晚间，雷科防务发布股票交易异常波动公告称，公司股票自2025年12月29日至2026年1月6日连续5个交易日涨停，累计涨幅偏离值（深证A股指 数）达到58.10%。公司股票短期内涨幅较大，显著偏离大盘指数，但基本面未发生重大变化，存在市场情绪过热、股价短期涨幅较大后下跌的风险。 东方证券认为，上证指数逼近4100点整数关口，技术层面来看，预计后市上行速度将有所放缓，不排除大幅震荡可能；未来产业仍是关注焦点，但需要提 防部分个股大幅炒作后的调整风险，板块内部的高低切换值得把握。 ...

Market Overview - The total market turnover exceeded 2.88 trillion yuan, an increase of 493 billion yuan compared to the previous trading day, with over 2,100 stocks rising [2] Sector Performance - The sectors that saw the highest gains included photoresists, coal mining and processing, storage chips, photolithography machines, and controllable nuclear fusion, while brain-computer interfaces and internet insurance sectors experienced collective adjustments [3] - The coal sector continued to rise, with stocks such as Dayou Energy, Shanxi Black Cat, and Antai Group hitting the daily limit, while Zhengzhou Coal Electricity, Lu'an Environmental Energy, and Shanxi Coking Coal also showed significant gains [6][8] Notable Stocks - Reiko Defense achieved a "6 consecutive limit up" and topped the A-share hot stock list, closing at 16.71 yuan per share, with a total market value exceeding 22 billion yuan. The stock has seen a cumulative increase of over 188% since the upward trend began on November 24, 2025 [3][5] - The controllable nuclear fusion sector saw strong gains, with companies like Hongxun Technology, Xue Ren Group, China Nuclear Construction, and Guoji Heavy Equipment hitting the daily limit [9] Coal Industry Insights - According to Guohai Securities, the supply constraints in the coal mining industry remain unchanged, while demand may fluctuate. The industry is expected to see improvements in supply-demand relationships by 2026, with policies supporting price increases and profitability recovery [8] - Leading coal companies exhibit characteristics of high profitability, high cash flow, high asset quality, high dividends, and high barriers to entry, making them attractive for investment [8] Controllable Nuclear Fusion Developments - Energy Singularity Company announced significant progress with its high-temperature superconducting Tokamak nuclear fusion experimental device, achieving a stable long-pulse plasma operation for 120 seconds, marking a milestone in commercial nuclear fusion technology [12] - Northeast Securities anticipates that the controllable nuclear fusion industry is transitioning from experimental validation to commercial demonstration, with expectations for demonstration power generation by the mid-21st century [12]

有能源(600403)、陕西黑猫(601015)涨停；半导体、可控核聚变、CPO概念及稀土永磁等板块涨幅居 前。另外，DRG/DIP概念走低，荣科科技20CM跌停；脑机接口板块大回调，诚益通(300430)、爱朋医 疗(300753)等多股跌逾10%；钛白粉板块走弱，振华股份(603067)领跌；数字货币、屏下摄影及券商概 念等跌幅居前。(格隆汇) | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 4085.77 14030.56 1496.28 | | | | +2.11 +0.05% +8.01 +0.06% +3.24 +0.22% | | | | 科创50 | 创业板指 | 万得全A | | 1443.39 | 3329.69 | 6654.10 | | +14.09 +0.99% +10.40 +0.31% +12.34 +0.19% | | | | 沪深300 | 中证500 | 中证A500 | | 4776.67 7875.08 5860.25 | | | | -14.03 -0.29% +60.95 +0.78% +0.05 0.00% | | | | ...

Market Overview - A-shares experienced narrow fluctuations on January 7, with the Shanghai Composite Index rising by 0.05%, the Shenzhen Component Index by 0.06%, the ChiNext Index by 0.31%, and the STAR Market Index by 1.53% [1][2]. Sector Performance - The semiconductor industry chain showed strength, with photolithography machines and memory sectors leading the gains. Active sectors included rare earths, CPO, innovative pharmaceuticals, and short drama gaming themes. Conversely, digital currency and cross-border payment sectors adjusted, while brokerage and oil & gas sectors saw significant declines [2][6]. Individual Stock Highlights - Notable stocks in the photolithography and photolithography adhesive sectors included: - Jiasian Co. (+25.68%) - Gaomeng New Materials (+20.03%) - Huarong Chemical (+20.03%) - Nanda Optoelectronics (+20.00%) - Xinyuan Micro (+20.00%) [3][4]. - The coal sector experienced a collective surge, with stocks such as Dayou Energy, Antai Group, and Shaanxi Black Cat hitting the daily limit [4]. Trading Volume and Market Sentiment - The total trading volume in the Shanghai and Shenzhen markets reached 2.85 trillion yuan, an increase of 476 billion yuan compared to the previous trading day, with nearly 3,200 stocks declining [4][6]. Capital Flow - Main capital inflows were observed in coal, electric grid equipment, and semiconductor sectors, while outflows were noted in computer, consumer electronics, and securities sectors [6][7]. Institutional Insights - Dongfang Securities noted that the market opened positively, with a favorable outlook for technology growth stages. - CICC highlighted an improvement in market risk appetite, suggesting that the spring market trend may continue. - China Merchants Securities indicated that A-shares are likely to maintain an upward trend, with a high probability of continuing the spring offensive [8].

机构表示，元旦后中东部低温将推升供暖需求，叠加供给收缩、政策托底预期，煤价有望止跌企稳。 信达证券指出，元旦后我国中东部大部地区平均气温将由前期显著偏高转为偏低1—2℃，煤炭消费端支 撑力度有望增强，叠加当前长协与市场煤价格再次倒挂，自7月以来的供给端约束底层逻辑仍然存在， 无需过度担忧煤价大幅下跌，静待需求边际改善或政策引导信号出现，煤价企稳节点正在逐步临近。能 源大通胀背景下，未来3—5年煤炭供需偏紧的格局仍未改变，优质煤炭企业依然具有高壁垒、高现金、 高分红、高股息的属性，叠加煤价筑底推动板块估值重塑，板块投资攻守兼备且具有高性价比，短期板 块回调后已凸显出较高的投资价值。 煤炭板块7日盘中大幅走高，截至发稿，大有能源、陕西黑猫、安泰集团涨停，郑州煤电涨超8%。 期货市场方面，焦煤、焦炭主力合约午后双双涨停。 ...

人民财讯1月7日电，煤炭板块持续上扬，大有能源（600403）、陕西黑猫（601015）、安泰集团 （600408）涨停，郑州煤电（600121）涨超8%，潞安环能（601699）、山西焦煤（000983）纷纷大 涨。 ...

Group 1 - A-shares in the coal sector experienced a collective rise, with notable stocks such as Shaanxi Black Cat and Antai Group hitting the daily limit, and Shanxi Coking Coal increasing by over 7% [1][2] - The Dalian Commodity Exchange's main contract for coking coal reached a limit-up price of 1164 RMB/ton, reflecting a 7.98% increase, while the coking coal contract rose by 6.85% to 1754.5 RMB/ton [2][3] - The strong performance in the futures market has positively influenced the sentiment in the A-share coal sector [2] Group 2 - According to Shanxi Securities' latest report, the demand for thermal coal is expected to increase due to low temperatures, coupled with a continued supply contraction, which may stabilize and gradually increase coal prices [7] - For coking coal, low inventory levels and supply contraction are expected to support prices, with downstream winter storage demand gradually being released, leading to a stable price outlook [7] - The coal mining sector is likely to see improved profitability as coal prices stabilize, benefiting companies with quality coal production capabilities [8] - The coal processing sector will experience reduced cost volatility due to stable coal prices, with rising coking coal prices positively impacting the prices of processed products [8] - Power generation companies will see their coal procurement costs return to reasonable levels as coal prices stabilize, alleviating profitability pressures during the heating season [8]

| 代码 | 名标 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 601015 | 陕西黑猫 | | 10.00 | 83.13亿 | 12.43 | | 000983 | 山西焦煤 | | 7.13 | 401亿 | 9.97 | | 600397 | 江钨装备 | | 5.20 | 80.09亿 | 6.45 | | 601699 | 潞安环能 | | 4.92 | 383亿 | 8.39 | | 600403 | 大有能源 | | 4.90 | 179亿 | 7.45 | | 601011 | 宝泰隆 | 1 | 4.45 | 67.43 乙 | 3.53 | | 600792 | 云煤能源 | | 4.01 | 46.06亿 | 6.96 | | 600121 | 郑州煤电 | | 3.93 | 54.83亿 | 7.91 | | 600740 | 山西焦化 | | 3.65 | 102亿 | 5.85 | | 601918 | 新集能源 | 1 | 2.98 | 179亿 | 4.54 | | 601898 | ...

Market Overview - The Shanghai Composite Index rose by 0.29%, approaching 4100 points, while the Shenzhen Component increased by 0.35%, and the ChiNext Index gained 0.41% [3] - The total trading volume in the Shanghai and Shenzhen markets reached 1.84 trillion yuan, an increase of 538 billion yuan compared to the previous trading day, with over 2700 stocks declining [3] Sector Performance - The coal sector showed strength, with major stocks like Antai Group hitting the daily limit, and other companies such as Baotailong and Shanxi Coking rising alongside [5] - The futures contract for coking coal hit the daily limit with a rise of 7.98%, priced at 1164 yuan per ton [6] - The semiconductor industry chain performed strongly, with significant gains in sectors like photolithography and storage chips [7] - The photolithography sector saw a rise of 6.66%, with stocks like Yake Technology hitting the daily limit [4] - The rare earth permanent magnet sector also experienced a rise of 3.37%, with companies like Zhongcai Rare Earth and Jiuling Technology seeing gains [9] Individual Stock Highlights - Shangfeng Cement opened over 3% higher after announcing a plan to invest 90 million yuan to establish a semiconductor industry fund [16] - Times New Material opened 3.38% higher following the signing of a 3.32 billion yuan wind turbine blade sales contract [18] - The stock of Puhua Technology surged over 10% as it reached a new historical high [12] International Market Influence - The Hang Seng Index opened down 0.41%, with notable declines in stocks like Alibaba and NIO, while companies like Huahong Semiconductor and SMIC showed strength [19] - The central bank conducted a reverse repurchase operation of 28.6 billion yuan at an interest rate of 1.40% [18]