华龙证券认为，2026年作为"十五五"规划开局之年，政策环境持续优化，资本市场预期修复叠加交易活 跃度高位运行，有望推动券商板块实现估值与盈利的双重共振。监管层持续推进制度型开放，推动中长 期资金入市，居民存款搬家与长钱长投趋势强化了权益市场韧性，2025年两融余额突破2.5万亿元，A股 日均成交额维持在1.7万亿元左右，为经纪、两融及投资业务提供坚实支撑。市场慢牛预期下，券商权 益资产配置比例持续上升，叠加指数化投资与公募基金代销能力增强，财富管理业务迎来结构性机遇。 监管导向从规模扩张转向效率与回报考核，取消营收加分项、强化ROE导向，倒逼行业优化资源配置， 提升资本使用效率，券商迎来发展机遇期。头部券商凭借资本实力、客户基础与综合服务能力，有望实 现业绩修复与估值提升。 券商板块6日盘中发力走高，截至发稿，华林证券、华安证券双双涨停，东北证券涨超5%，华泰证券、 东方财富涨近4%。 机构表示，监管政策进入"积极"周期，券商投行、公募基金和海外业务有望接棒传统业务，支持证券行 业2026年盈利景气度，当下券商板块估值和机构持仓仍在低位，过往一年整体滞涨，看好券商板块开年 布局机会，短期看业绩预告和政策端有 ...

Market Overview - The Shanghai Composite Index has reached a new ten-year high, surpassing the previous peak of 4034.08 points, closing at 4054.30 with a gain of 0.77% [4][5] - A total of over 4000 stocks rose in the market, indicating a broad-based rally [2] Sector Performance - Non-bank financial stocks, often seen as the "flag bearers" of the bull market, have shown significant gains, with stocks like Huayin Securities and Huatai Securities hitting their daily limits [12][13] - The semiconductor sector and precious metals have also performed well, while some concepts like optical modules and optical communication have seen pullbacks [5][6] Brain-Computer Interface Sector - The brain-computer interface concept stocks have remained active, with companies like Aipeng Medical and Xiangyu Medical hitting their daily limits with gains of 20% [9][10] - Neuralink's announcement of large-scale production of brain-computer interface devices by 2026 has been highlighted as a significant milestone for the AI industry, indicating a shift towards human-machine symbiosis [11] Stock Highlights - Notable stock performances include: - Aipeng Medical (300753) at 39.96, up 20.00% - Xiangyu Medical (688626) at 87.12, up 20.00% - Meihua Medical (301363) at 34.63, up 19.99% [10] - In the software trading sector, stocks like Zhinanzhen and Tonghuashun have surged over 8% [15][16] Summary of Key Stocks - Huayin Securities (002945) rose to 17.84, up 9.99% - Huatai Securities (601688) increased to 25.33, up 4.02% - Zhinanzhen (300803) reached 147.06, up 8.35% [14][16]

| 名称 | 现价 涨跌 涨跌幅▼ | | --- | --- | | 华林证券 | 17.84 1.62 9.99% | | 华安证券 | 7.58 0.67 9.70% | | 东北证券 | 9.92 0.51 5.42% | | 圆刺湖园 | 21.82 0.89 4.25% | | 财达证券 | 7.01 0.28 4.16% | | 华泰证券 | 25.26 0.91 3.74% | | 东方财富 | 24.60 0.85 3.58% | | 国联民生 | 10.15 0.31 3.15% | | 天风证券 | 4.34 0.13 3.09% | | 长江证券 | 8.54 0.25 3.02% | 开源证券研报分析称，监管政策进入"积极"周期，券商投行、公募基金和海外业务有望接棒传统业务， 支持证券行业2026年盈利景气度，当下券商板块估值和机构持仓仍在低位，过往一年整体滞涨，看好券 商板块开年布局机会，短期看业绩预告和政策端有望带来催化。 华龙证券认为，市场慢牛预期下，券商权益资产配置比例持续上升，叠加指数化投资与公募基金代销能 力增强，财富管理业务迎来结构性机遇。监管导向从规模扩张转向效率与回 ...

1 月 6 日，上证指数早盘走势强劲，突破 2025 年 11 月的高点，再创 10 年新高。 上证指数再创10年新高 1月6日开盘后不久，上证指数突破2025年11月的高点，再创10年新高。 | 指标 叠加 事件 统计 画线 标记 +自选 返回 G = 上证指数 999999 | 15秒 多周期 更多 > | रे। | > | 4049.40 | ▲25.98 | 0.65% | 4050 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 4055.02- | 2 | 4026.02 | 今日开盘 | 3. | 4000 | | | | | 昨日收盘 | 4023.42 | 4. | 3950 | 指数振幅 | 29.93/0.74% | 5. | | | | 总成交额 | 3612.46亿 | 3900 | 总成交量 | 20680.0万 | 令如 | | | | | 3850 | 指数量比 | 2.93 | 财批 | 0.43% | 上证换手 | | 3800 | | | A股 涨停 | 增发 | 3750 | 涨幅 > 7% ...

盘面上，能源金属、医药商业、贵金属、有色金属、人脑工程概念等板块开盘活跃；船舶制造、航空航 天、玻璃玻纤、石油、燃气等板块开盘走低。 证券板块持续拉升，华林证券涨停，华安证券涨近9%，国泰海通、华泰证券、东北证券跟涨。 券商股集体爆发，其中华林证券直线拉升涨停。 1月6日早盘，A股三大指数开盘涨跌不一。截至发稿，三大指数全线飘红。上证指数持续走强，突破 2025年11月14日的阶段高点，刷新2015年7月底以来的新高。科创50指数涨超2%。 | 名称 | 序号 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | 上证指数 | 1 | 4052.29 | 28.87 | 0.72% | | 深证成指 | 2 | 13918.96 | 90.33 | 0.65% | | 科创综指 | 3 | 1716.13 | 20.29 | 1.20% | | 万得全A | ব | 6595.03 | 57.09 | 0.87% | | 创业板指 | 5 | 3298.58 | 4.03 | 0.12% | | 北证50 | 6 | 1478.81 | 12.39 | 0.8 ...

Core Viewpoint - The A-share market has seen a strong performance in brokerage stocks, with several companies experiencing significant price increases, indicating a positive trend in the sector [1]. Group 1: Brokerage Stock Performance - Huayin Securities (华林证券) reached a limit-up increase of 9.99%, with a total market capitalization of 48.2 billion and a year-to-date increase of 16.37% [2]. - Hua'an Securities (华安证券) increased by 9.70%, with a market cap of 35.5 billion and a year-to-date increase of 11.80% [2]. - Zhina Compass (指南针) rose by 8.02%, with a market cap of 89.2 billion and a year-to-date increase of 12.03% [2]. - Tonghuashun (同花顺) saw a rise of 7.79%, with a market cap of 192.5 billion and a year-to-date increase of 11.11% [2]. - Northeast Securities (东北证券) increased by 4.68%, with a market cap of 23.1 billion and a year-to-date increase of 5.69% [2]. - Dongfang Caifu (东方财富) rose by 4.00%, with a market cap of 390.4 billion and a year-to-date increase of 6.51% [2]. - Other notable increases include Guotai Haitong (国泰海通) at 3.87%, Huatai Securities (华泰证券) at 3.90%, and Tianfeng Securities (天风证券) at 3.80% [2]. Group 2: Market Indicators - The MACD golden cross signal has formed, indicating a positive momentum for these stocks [2].

【机构观点】 截至2026年1月6日 09:54，证券ETF(159841)盘中换手2.58%，成交2.74亿元。跟踪的中证全指证券公司指数(399975)强势上涨 2.76%，成分股华林证券(002945)上涨9.99%，华安证券(600909)上涨9.70%，华泰证券(601688)上涨4.11%，国泰海通(601211)， 天风证券(601162)等个股跟涨。 【产品亮点】 证券ETF(159841)跟踪指数聚焦A股的大市值证券龙头，涵盖传统证券龙头和金融科技龙头。 【相关产品】 证券ETF(159841)，对应场外联接基金（A：008590，C：008591）。 【热点事件】 罕见！沪指冲击13连阳， 盘中再刷新10年新高 1月6日早盘，A股三大指数集体走强，沪指突破2025年11月14日的阶段高点4034.08点，刷新2015年7月底以来的新高，强势冲击 13连阳。 值得一提的是，自2025年12月17日至2026年1月5日，上证指数实现日线12连阳，创1992年3月以来最长连阳纪录。Wind数据显 示，1992年3月以来，上证指数出现过三次11连阳，分别为：1992年5月5日至1992年5月19日 ...

证券板块持续拉升，华林证券涨停，华安证券涨超6%，国泰海通、华泰证券、东北证券跟涨。 ...

今日维力医疗（603309）涨7.36%，收盘报14.59元。 2025年10月22日，华安证券研究员谭国超,李婵发布了对维力医疗的研报《高毛利产品占比提升，海外 收入逐季攀升》，该研报对维力医疗给出"买入"评级。研报中预计2025-2027年公司收入分别为17.79亿 元、20.73亿元和24.26亿元，收入增速分别为17.9%、16.6%和17.0%，2025-2027年归母净利润分别实现 2.67亿元、3.18亿元和3.84亿元，增速分别为21.5%、19.1%和20.9%，对应2025-2027年的PE分别为15x、 12x和10x，维持"买入"评级。证券之星数据中心根据近三年发布的研报数据计算，该研报作者对此股的 盈利预测准确度为79.41%。 证券之星数据中心计算显示，对该股盈利预测较准的分析师团队为浙商证券的孙建、刘明。 维力医疗（603309）个股概况： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Group 1 - The core viewpoint is that the A-share market is expected to maintain a "slow bull" pattern in 2026, driven by policy support and economic recovery, with key investment themes including technology growth, supply-demand improvements, and beneficiaries of RMB appreciation [1] - The consumption subsidy for "old-for-new" policies decreased from 81 billion yuan in the first half of 2025 to 69 billion yuan in the second half, but is likely to continue into 2026, potentially boosting consumption [2] - Analysts predict that the first quarter of 2026 may see the lowest growth rate for the year due to weaker policy support compared to previous years and the impact of the extended Spring Festival holiday on production [2] Group 2 - The global economic outlook for 2026 remains resilient, with major economic organizations projecting only a slight decline in growth compared to 2025, indicating a favorable external environment [3] - The A-share market is entering a "profit-driven" phase in 2026, supported by fundamental recovery and global liquidity easing, with a focus on stabilizing employment and market expectations [4] - The "14th Five-Year Plan" emphasizes high-quality development and technological self-reliance, suggesting long-term policy support for technology and advanced manufacturing sectors [5] Group 3 - Investment strategies should focus on sectors highlighted in the "14th Five-Year Plan," including AI, commercial aerospace, low-altitude economy, and renewable energy, as well as traditional industries undergoing transformation [5] - The investment landscape is shifting towards industrial resources and equipment exports, with recommendations for sectors such as copper, lithium, and photovoltaic equipment, as well as consumer sectors benefiting from income recovery [6]