Group 1 - The general retail sector increased by 0.81% on January 22, with Jinhe Commercial Management leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] - Notable gainers in the general retail sector included Jinhe Commercial Management (up 4.11%), Hemei Group (up 3.26%), and Ningbo Zhongbai (up 3.08%) [1] Group 2 - The general retail sector experienced a net outflow of 676 million yuan from institutional investors, while retail investors saw a net inflow of 792 million yuan [2] - Major stocks with significant net inflows from retail investors included Youa Co. (1864.64 million yuan) and Hemei Group (1531.57 million yuan) [3] - Conversely, stocks like Xiaoshangpin City and Youa Co. faced net outflows from institutional investors, indicating varied investor sentiment across the sector [3]

人民财讯1月20日电，企查查APP显示，近日，湖北长江企业管理研究院有限公司成立，法定代表人为 涂君山，注册资本3000万人民币，经营范围包括社会经济咨询服务、信息技术咨询服务、企业管理咨询 等。企查查股权穿透显示，该公司由湖北省投资公司、长江证券全资子公司长江证券创新投资（湖北） 有限公司、天风证券（601162）全资子公司天风创新投资有限公司共同持股。 ...

Core Viewpoint - The announcement details the judicial auction and transfer of shares held by the controlling shareholder of Ningbo Zhongbai Co., Ltd., resulting in a change of control to Hangzhou Jindi Commercial Management Co., Ltd. Group 1: Judicial Auction Details - The shares involved in the judicial auction are 35,405,252 shares held by the controlling shareholder, Tibet Zetian Investment Development Co., Ltd., which represents 15.78% of the company's total share capital [2][4] - The Qingdao Intermediate People's Court issued a ruling transferring ownership of the shares to the buyer, effective upon delivery of the ruling to the buyer, and the shares were released from judicial freeze [2][6] Group 2: Change of Control - Following the completion of the share transfer, Hangzhou Jindi Commercial Management Co., Ltd. became the controlling shareholder of the company, holding a total of 64,970,952 shares, or 28.96% of the total share capital [4][8] - The actual controllers of the company are identified as Lu Sikan and Kong Lielan, and the company’s operations are reported to be normal without significant adverse effects from this change [4][8] Group 3: Future Shareholding Restrictions - Hangzhou Jindi Commercial Management Co., Ltd. has committed not to transfer its shares in the company for the next 18 months, barring any legal exceptions [4][8]

证券代码：600857 证券简称：宁波中百 公告编号：2026-001 宁波中百股份有限公司 关于公司控股股东、实际控制人所持股份被司法拍卖 暨完成过户登记的进展公告 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。 重要内容提示： 一、本次拍卖的基本情况 本次被司法拍卖的标的为控股股东、实际控制人西藏泽添投资发展有限公司 （以下简称"西藏泽添"）持有宁波中百股份有限公司（以下简称"公司"） 股份 35,405,252 股（均为无限售条件流通股），占公司总股本的 15.78%。 公司收到山东省青岛市中级人民法院（以下简称"青岛中院"）执行裁定书 【（2022）鲁 02 执 924 号之四十一】，裁定公司 35,405,252 股无限售流通股 股票的所有权归买受人所有。上述财产的所有权自该裁定送达买受人时起转 移，买受人可持该裁定到登记机构办理相关股票登记过户手续。解除公司 35,405,252 股无限售流通股股票的冻结措施。 本次权益变动已履行国家市场监督管理总局经营者集中审查程序，该司法拍 卖事项已办理过户登记。 截至本公告披 ...

宁波中百股份有限公司 简式权益变动报告书 上市公司名称：宁波中百股份有限公司 信息披露义务人：西藏泽添投资发展有限公司 住所：宝山区共和新路4727号202D室 通讯地址：上海市浦东新区花园石桥路66号901室 股份变动性质：股份减少（司法拍卖） 签署日期：2026年【1】月【17】日 上市地点：上海证券交易所 股票简称：宁波中百 股票代码：600857 信息披露义务人声明 一、本报告书依据《中华人民共和国证券法》、《上市公司收购管理办法》、 《公开发行证券的公司信息披露内容格式与准则第15号—权益变动报告书》及其 他相关法律、法规及部门规章的有关规定编写。 二、本信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《证券法》、《收购办法》、《准则第15号》的规定，本报告书已 全面披露了信息披露义务人在宁波中百股份有限公司拥有权益的股份变动情况。 截至本报告书签署日，除本报告书披露的信息外，信息披露义务人没有通过 任何其他方式增加或减少其在宁波中百股份有限公司中拥有权益的股份。 第一节 释义 在本报告书中，除非文义载明，以下简称具有如下含义： 四、本次权益变动是根据本报告书所载明的资料进行的。除信息披 ...

Group 1 - The establishment of joint ventures is a significant trend, with multiple companies engaging in partnerships to enhance their market presence and operational capabilities [1][1][1] - Notable joint ventures include the collaboration between Anshan Zhichuang Digital Information Industry Development Co., Ltd. and Telai Electric New Energy Co., Ltd., set to be finalized on December 29, 2025 [1] - Another key partnership involves Jinhua Jintou Group Co., Ltd. and Zhejiang Public Information Industry Co., Ltd., with the joint venture expected to be established on December 30, 2025 [1] Group 2 - Talisman Partners Ltd. is acquiring a stake in Feizloy (CQ) Ltd. from Mokore Energy Group Ltd. and Itochu Corporation, with the deal also set for December 30, 2025 [1] - Kangmaier Industrial Group Co. is set to acquire shares in Shanghai Naboteske Hydraulic Co., Ltd. from Shanghai Electric Hydraulic Pneumatic Co., Ltd. and Komatsu Ltd. by December 31, 2025 [1] - Yongtai Yuhua Chemical Logistics Co., Ltd. is forming a joint venture with Shandong Port Group International Investment Development Co., Ltd., expected to be finalized on December 31, 2025 [1] Group 3 - Huitongda Network Co., Ltd. is acquiring shares in Jintongling Technology Group Co., Ltd., with the transaction scheduled for December 31, 2025 [1] - Hangzhou Jindi Commercial Management Co., Ltd. is set to acquire shares in Ningbo Zhongbai Co., Ltd. by December 31, 2025 [1] - China Resources Power Holdings Co., Ltd. is establishing a joint venture with Jiangsu Yueda Low Carbon Technology Development Co., Ltd., expected to be finalized on December 31, 2025 [1]

Group 1 - The general retail sector increased by 0.29% compared to the previous trading day, with Guoguang Chain leading the gains [1] - The Shanghai Composite Index closed at 4023.42, up 1.38%, while the Shenzhen Component Index closed at 13828.63, up 2.24% [1] - Key stocks in the general retail sector showed various performance, with Guoguang Chain closing at 20.05, up 3.40%, and Dongbai Group at 18.39, up 3.20% [1] Group 2 - The general retail sector experienced a net outflow of 615 million yuan from institutional funds, while retail investors saw a net inflow of 488 million yuan [2] - Major stocks like Dongbai Group and Wushang Group had significant net outflows from institutional investors, with Dongbai Group seeing a net outflow of 270.19 million yuan [3] - Guoguang Chain had a net inflow of 181.14 million yuan from institutional investors, indicating strong interest despite overall sector outflows [3]

Core Viewpoint - Investors should adopt a systematic and disciplined approach to investment decisions, avoiding reliance on short-term emotional fluctuations and utilizing public index enhancement tools for market participation [1] Group 1: Investment Strategy - The core principle of model-based investing emphasizes discipline over intuition, ensuring that decisions are made based on objective models rather than subjective judgments [2] - The investment strategy focuses on a fundamental model-based approach complemented by price-volume strategies, aiming to capture stock price drivers over weeks to months [3] - A dynamic factor evaluation and rotation mechanism is established to regularly assess the effectiveness, relevance, and stability of various factors, ensuring the rigor and replicability of strategies in practice [3] Group 2: Market Context - The total scale of public products utilizing model-based investment has surpassed 400 billion yuan as of the end of Q3 2025, indicating rapid industry expansion [3] - The domestic model-based investment landscape is still in its "youth phase," with ongoing innovation required within compliance frameworks to differentiate strategies [4] Group 3: Long-term Perspective - The current market is viewed as a transitional period between old and new driving forces, where model-based fund managers must construct complex probabilistic systems and adhere to disciplined execution [5] - Ordinary investors with limited time and resources are encouraged to consider public index enhancement products for systematic investment in undervalued market phases to achieve long-term returns [6]

Market Overview - The Shanghai Composite Index closed at 3889.35 points, with a change of 0.41% [1] - The total trading volume of A-shares reached 2119.01 billion yuan [1] Technical Analysis - 28 A-shares experienced a crossover where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Hengfeng Information: -0.95% - Huaxia Happiness: -0.87% - Haitai New Light: -0.79% [1] Individual Stock Performance - Hengfeng Information (300605) saw a decline of 6.66% with a turnover rate of 18.06% [1] - Huaxia Happiness (600340) decreased by 1.63% with a turnover rate of 7.60% [1] - Haitai New Light (688677) increased by 1.19% with a turnover rate of 0.80% [1] - Jiangsu Beiren (688218) fell by 1.35% with a turnover rate of 3.68% [1] - Shenhui Technology (300853) decreased by 0.99% with a turnover rate of 2.24% [1] - Other notable declines include: - Zhongke Tongda (688038): -1.51% - Zhongke Information (300678): -0.37% - Fa Lion (605318): -0.91% [1] Additional Stock Movements - Stocks with minor declines include: - New Times (002527): -0.45% - Shanghai Environment (601200): -0.62% - Mind Electronics (300656): +0.29% [2] - The stock performance of various companies indicates a mixed market sentiment, with some stocks showing resilience while others face downward pressure [2]

Group 1 - The general retail sector increased by 2.79% compared to the previous trading day, with Yonghui Supermarket leading the gains [1] - On the same day, the Shanghai Composite Index closed at 3900.5, down 0.23%, while the Shenzhen Component Index closed at 13316.42, up 0.29% [1] - Notable gainers in the general retail sector included Yonghui Supermarket, which rose by 10.11% to a closing price of 5.23, and Central Plaza, which increased by 10.10% to 4.47 [1] Group 2 - The general retail sector saw a net inflow of 1.007 billion yuan from main funds, while retail funds experienced a net outflow of 699 million yuan and individual investors saw a net outflow of 308 million yuan [2] - The trading volume for Yonghui Supermarket was 2.7269 million hands, with a transaction amount of 1.426 billion yuan [1][2] - Other significant stocks in the sector included Meikailong, which rose by 10.04% to a closing price of 3.07, and Maoye Commercial, which increased by 10.03% to 7.13 [1]