Core Viewpoints - The latest strategies from top brokerages indicate a bullish sentiment in the A-share market, with a focus on sectors like technology, traditional manufacturing, and resource pricing power [1][2][3][4][5][6][7][8][9][10][11][12][13][14] Group 1: Market Trends - The A-share market is experiencing a "rally" phase, with significant trading volume and a risk appetite resurgence, as evidenced by the Shanghai Composite Index surpassing 4100 points [4][6] - The market is expected to maintain its upward trajectory until the Spring Festival, driven by favorable macroeconomic indicators and increased participation from institutional investors [3][4][11][13] Group 2: Sector Focus - Brokerages recommend focusing on technology sectors, particularly AI applications, commercial aerospace, and robotics, which are anticipated to benefit from policy support and market trends [3][7][12][14] - Traditional manufacturing and resource sectors are highlighted for their potential in pricing power enhancement, with suggestions to increase allocations in non-bank financials [2][4][8] Group 3: Investment Strategies - Investment strategies emphasize a balanced approach, suggesting a mix of growth-oriented and cyclical sectors, with a focus on themes like "anti-involution" and price recovery in industries such as chemicals and metals [7][8][14] - The importance of monitoring market sentiment and performance metrics is stressed, particularly as the market enters a period of earnings announcements and potential volatility [12][13]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 智通财经1月11日讯（编辑 若宇）十大券商最新策略观点新鲜出炉，具体如下： | 券商 | 核心观点 | | --- | --- | | 中信证券 | 继续聚焦资源和传统制造定价权的提升 | | 年西证券 | 把握做多窗口 牛市行情或将继续推进 | | 信达证券 | 市场成交放量风险偏好回升 交易性资金有望回暖接力 | | 中泰证券 | 开年市场新高后或如何演绎? | | 来等班券 | 春季行情短期进入主升阶段 继续聚焦科技成长和周期成长主线 | | 方正证券 | 春季攻势已经展开 配置上建议关注三条主线 | | 浙商证券 | 市场选择直接上攻 均衡配行业、持仓迎春节 | | 光大证券 | 政策红利释放 A股市场热度短期有望延续 | | 东吴证券 | 建议以景气成长为主 | | 中国银河 | A股市场开启"躁动"行情 重点布局结构性投资机会 | 中信证券：继续聚焦资源和传统制造定价权的提升 从当前的量价和风偏指标来看，短期市场热度偏高，但情绪指标还没有转弱迹象，预计主题、小票轮动 的震荡上行格局可能还会延续到两会前后，直至内需预期的上修， ...

中泰证券发布研究报告称，短期内市场或延续上行趋势，遇震荡行情，投资者可把握逢低布局机遇，抓 住春节前的重要窗口期配置价值。从板块配置角度看，机器人方向在本轮拉升过程中持续获得资金净流 入，板块上涨并未出现明显资金背离，趋势尚未结束，仍是当前阶段最重点建议关注的主线方向。商业 航天板块资金流入态势同样强劲，但当前交易拥挤度已处于历史高位，板块运行或由前期主升阶段逐步 转向第二阶段的"主题扩散"行情，操作上需更加注重节奏与分化。此外，可控核聚变、体育与消费者服 务、有色金属等方向亦出现资金持续流入迹象，若1月中旬市场局部出现震荡调整，上述板块有望成为 值得重点布局的结构性方向。 ...

Core Viewpoint - The market is expected to continue its upward trend in the short term, with opportunities for investors to strategically position themselves before the Chinese New Year [1][2]. Market Performance - The A-share market has shown strong upward momentum, with major indices like the Wind All A, CSI 300, and CSI 2000 rising by 5.11%, 2.79%, and 6.54% respectively this week [2]. - The Shanghai Composite Index has risen by 3.82%, surpassing 4100 points and achieving a 16-day consecutive increase, marking a significant trend [2]. - Daily trading volume has increased, with the average daily turnover reaching 2.85 trillion yuan, and a single-day turnover exceeding 3 trillion yuan, indicating a strong influx of new capital [2]. Sector Analysis - The robotics sector has seen continuous net inflows, indicating it remains a key focus area for investment [1]. - The commercial aerospace sector is also experiencing strong capital inflows, but its trading density is at historical highs, suggesting a shift from a primary upward phase to a "theme diffusion" phase [1][3]. - Other sectors such as controllable nuclear fusion, sports and consumer services, and non-ferrous metals are showing signs of sustained capital inflows, making them potential structural investment opportunities [1]. Industry Highlights - The technology sector has been a strong market driver, with significant gains in media (13.11%), computer (8.50%), and electronics (7.74%) industries [3]. - The defense and military industry has surged by 13.63%, influenced by geopolitical events and the ongoing development of commercial aerospace [3]. - Non-ferrous metals have also risen by 8.56%, supported by strong demand and strategic reserves [3]. Future Outlook - The upward trend in indices is likely to continue as long as trading volume remains robust, with average daily turnover increasing by 51.63% compared to the previous month [4]. - The market is expected to focus on technology sectors and resource demand, with a potential shift towards less crowded segments within technology [4]. - The growth of northbound and leveraged funds is providing strong momentum for the market, with margin financing balances steadily breaking previous highs [4].

Group 1 - The Guangzhou Municipal Government has issued a plan to accelerate the construction of a strong advanced manufacturing city, focusing on the development of the low-altitude economy and commercial aerospace [1] - The plan includes the establishment of a civil unmanned aerial vehicle (UAV) test zone and the development of new technologies, models, and business formats in the low-altitude sector [1] - Infrastructure construction for takeoff and landing, such as hub-type takeoff fields, vertical takeoff points, UAV test flight sites, and automated hangars, is emphasized [1] Group 2 - Guotai Junan Securities notes that the low-altitude economy is maturing with increasingly refined policies, highlighting the investment value of companies in related industries [2] - The consumer-grade UAV market in China is projected to reach 48.899 billion yuan in 2024, with a year-on-year growth of 20%, while the industrial-grade UAV market is expected to reach 113.4 billion yuan in 2023, indicating greater growth potential [2] - The commercial aerospace industry is entering a new phase of rapid development, with over 600 companies and 25 launch sites in operation or under construction, suggesting a significant investment opportunity in this sector [2]

众辰科技最终募集资金净额比原计划多74,627.86万元。2023年8月18日，众辰科技发布的招股说明 书显示，公司拟募集资金98,000.00万元，用于"变频器及伺服系统产业化建设项目""变频器、伺服系 统、电梯及施工升降机系统集成生产基地建设项目""研发中心建设项目""营销服务网络及信息化升级建 设项目""补充流动资金"。 众辰科技上市发行费用13,225.37万元，其中保荐及承销费用10,300.24万元。 (责任编辑：魏京婷) 中国经济网北京1月8日讯 众辰科技(603275.SH)今日收报46.98元，跌幅2.69%，总市值69.89亿元。 目前该股处于破发状态。 众辰科技于2023年8月23日在上交所主板上市，发行股份数量为3,719.2963万股，无老股转让，全部 为公开发行新股，发行价格为49.97元/股。众辰科技的保荐机构（主承销商）为中泰证券股份有限公 司，保荐代表人为倪婕、池铖庭。 上市当日，众辰科技盘中创上市以来最高价81.17元。 众辰科技上市发行募集资金总额185,853.24万元，募集资金净额172,627.86万元。 ...

Core Insights - The securities app market demonstrates strong resilience amid market fluctuations and technological changes, with an average monthly active user (MAU) of 127.28 million in the first 11 months of 2025, peaking at over 135 million in October [1][2]. User Engagement - The top 10 securities firms by MAU include Huatai Securities, Guosen Securities, and China Galaxy Securities, with Huatai's app achieving an average MAU of 8.25 million [4][5]. - A total of 18 firms reported an average MAU exceeding 1 million, indicating a competitive landscape [2][4]. App Development Trends - "High-frequency iteration" is a key trend, with the top 10 apps averaging 9 updates this year, focusing on trading features, market services, and AI capabilities [3][13]. - Guotai Junan's apps led the industry with 25 updates each, showcasing a commitment to continuous improvement [3][13]. Growth Metrics - Several apps achieved significant growth, with the highest increase seen in Industrial Securities' app, which grew by 67.64% from January to November [7][8]. - Year-over-year, 18 apps reported growth, with only two experiencing a decline [9][10]. Daily Active Users (DAU) - Huatai's app leads in DAU with an average of 337.97 million, significantly higher than the second-place app from招商证券 at 199.29 million [11][12]. AI Integration - The integration of AI in investment advisory services is a major focus, with firms like Guotai Junan and China Galaxy enhancing their apps with AI-driven features [13][14]. - The trend towards digital transformation is evident as firms aim to improve user experience and service efficiency through AI [13][14].

中泰证券研报指出，世纪华通成立于2005年，2011年深交所上市，历经"汽配跨界游戏、资本整合扩 围、多元拓展摘帽"三阶段，主营互联网游戏，是A股游戏板块龙头之一。2025年前三季度公司业绩实 现历史新高，营收272.23亿元同比增长75.30%，超过2024 年全年营业收入规模；同期归母净利润总额 43.57亿元，同比增长142%，净利润增速远超营收，凸显盈利效率提升红利。考虑到点点互动过往优秀 的游戏研发与游戏运营能力，集团2026业绩具备高成长性，给予"买入"评级。 ...

中国经济网北京1月8日讯 中国人民银行网站2025年12月31日发布山东省分行行政处罚决定信息公示表（鲁银罚决字〔2025〕29号）。中泰证券 （600918）股份有限公司（简称：中泰证券，600918.SH）存在以下违法行为：1.未按照规定开展客户尽职调查；2.未按照规定报告可疑交易。中国 人民银行山东省分行决定对其处以警告、罚款869000元。 二是中泰期货存在以自然人居间名义变相开展法人居间、对互联网营销平台尽调审核把关不严等问题，反映出中泰期货内部控制存在缺陷，违反了 《期货公司监督管理办法》（证监会令第155号）第五十六条的规定。 山东证监局决定对中泰期货采取责令改正的行政监督管理措施。 中泰证券(600918.SH)年报显示，中泰期货股份有限公司为上市公司持股63.10%的控股子公司。 中泰证券2025年9月6日披露关于向特定对象发行股票申请获得上海证券交易所审核通过的公告称，公司于2025年9月5日收到上海证券交易所出具的 《关于中泰证券股份有限公司向特定对象发行股票的交易所审核意见》，认为公司向特定对象发行股票申请符合发行条件、上市条件和信息披露要 求。 中泰证券本次发行的保荐机构为东吴证券股 ...

本项目底层资产涉及的7位债务人分别以智慧城市能源生产数据、植物生长策略数据、农产品追溯数 据、农业病虫害AI识别模型数据、社区服务数据和电池租赁数据等资产对底层资产进行赋能，并由潍 坊银行提供保函增信，获得了市场投资人的广泛认可。 我国"十五五"规划明确提出"深入推进数字中国建设"，作为数字经济时代重要的基础性资源，数据资产 通过证券化手段"变现"成为2025年以来市场关注的焦点。本项目的成功发行是山东省在金融服务数据资 产"变现"的一次重要尝试，也是响应"十五五"规划建议，促进实体经济与数字经济深度融合、以数智技 术赋能千行百业的一次成功实践。 中泰证券始终坚持金融工作的政治性、人民性，紧扣金融"五篇大文章"时代命题，不断提升服务实体经 济质效。2025年，公司服务230家企业融资1451.69亿元，其中服务山东省72家企业融资354.93亿元，相 继打造全国首单央企"知识产权+科技创新"双贴标资产证券化、中西部区域首单中小微企业支持及"专精 特新"知识产权资产证券化、天津市首单机构间REITs等标杆项目，通过多元化创新融资产品引导金 融"活水"源源不断流向实体经济重点领域和薄弱环节，切实践行金融报国的使命 ...