Core Viewpoint - Zhejiang Dongfang Holdings plans to reduce its stake in Yong'an Futures by up to 43,666,666 shares, representing 3% of the total share capital, due to its operational needs [1] Group 1: Shareholder Reduction Plan - Zhejiang Dongfang intends to reduce its holdings from February 24, 2026, through centralized bidding and block trading [1] - The reduction includes a maximum of 14,555,555 shares via centralized bidding and 29,111,111 shares via block trading [1] - As of the announcement date, Zhejiang Dongfang holds 166,427,690 shares, accounting for 11.43% of the total share capital, all of which are unrestricted circulating shares [1] Group 2: Company Listing and Financials - Yong'an Futures was listed on the Shanghai Stock Exchange on December 23, 2021, with an initial public offering of 146 million shares at a price of 17.97 yuan per share [2] - The total funds raised from the IPO amounted to 2.616 billion yuan, with a net amount of 2.507 billion yuan after deducting issuance costs [2] - The total issuance costs (excluding VAT) were 108 million yuan, with underwriting and sponsorship fees amounting to 86.7925 million yuan [2] Group 3: Stock Performance - Yong'an Futures reached its highest price of 41.69 yuan on the sixth trading day after listing but has since experienced a decline and is currently in a state of stock price drop [2]

Core Viewpoint - The article emphasizes the importance of integrating "investment in material" and "investment in people" as a strategic upgrade for high-quality economic development in China, highlighting the need for both hard support through infrastructure and technology, and soft support through talent cultivation and service capabilities [1]. Group 1: Investment in Material - The futures market is expanding its product offerings to include new energy and green finance, enhancing participation from industrial clients and providing hard support for "investment in material" through innovative models like "insurance + futures" [2]. - The infrastructure of the futures market is deeply integrated with the real economy, with delivery warehouses evolving into hubs that link spot and futures markets, and tools being innovatively aligned with industry needs [2][3]. - The futures market provides risk management tools and venues for enterprises, with derivatives like options and swaps catering to personalized hedging needs, while also addressing the challenges of usage among enterprises [3]. Group 2: Investment in People - The focus on "investment in people" aims to address the pain points of enterprises that struggle with using futures effectively, by cultivating analysts and client managers who understand both financial derivatives and the industry chain [3]. - The industry faces a structural shortage of composite talents and lacks dedicated risk management teams within enterprises, which hampers the effective integration of "investment in material" and "investment in people" [4]. - The futures industry is encouraged to prioritize talent investment, extending services to broader areas that require financial support, and transitioning from mere transaction facilitation to comprehensive risk management services [5]. Group 3: Challenges and Recommendations - The current collaboration between "investment in material" and "investment in people" is still in its early stages, with a need for deeper integration and a systematic approach to overcome existing challenges [4]. - Recommendations include leveraging AI and digital platforms to lower professional barriers, fostering composite talent development, and creating a robust mechanism to support long-term integration [6]. - The futures industry should evolve from being a mere tool provider to a strategic partner, enhancing service models to cater to both large enterprises and small businesses, while also focusing on technology and talent development [7].

Group 1: Report Information - Report Name: Coke Daily Report [1] - Date: January 22, 2026 [1] - Research Team: Black Team of the Research Center [1] Group 2: Price Information - **Shanxi Standard First Wet Quenching Coke**: The latest price is 1430.97, with no daily or weekly changes, a monthly change of -54.61, and a year-on-year change of -11.18% [2] - **Hebei Standard First Dry Quenching Coke**: The latest price is 1680.00, with no daily or weekly changes, a monthly change of -55.00, and a year-on-year change of 7.69% [2] - **Shandong Standard First Dry Quenching Coke**: The latest price is 1625.00, with no daily or weekly changes, a monthly change of -35.00, and a year-on-year change of -9.22% [2] - **Jiangsu Standard First Dry Quenching Coke**: The latest price is 1645.00, with no daily or weekly changes, a monthly change of -55.00, and a year-on-year change of -10.11% [2] - **Inner Mongolia Second - Grade Coke**: The latest price is 1130.00, with no daily or weekly changes, a monthly change of -50.00, and a year-on-year change of -13.08% [2] Group 3: Production and Capacity Information - **Blast Furnace Operating Rate**: The latest rate is 85.48, with a weekly change of -0.56, a monthly change of 0.55, and a year-on-year change of 1.47% [2] - **Daily Average Hot Metal Output**: The latest output is 228.01, with a weekly change of -1.49, a monthly change of 1.46, and a year-on-year change of 1.57% [2] - **Coking Capacity Utilization Rate**: The latest rate is 71.61, with a weekly change of 0.87, a monthly change of -0.31, and a year-on-year change of -1.28% [2] - **Daily Average Coke Output**: The latest output is 50.40, with a weekly change of 0.65, a monthly change of -0.90, and a year-on-year change of -5.41% [2] Group 4: Inventory Information - **Coking Plant Inventory**: The latest inventory is 40.61, with a weekly change of -3.56, a monthly change of -11.29, and a year-on-year change of -39.01% [2] - **Port Inventory**: The latest inventory is 188.07, with a weekly change of 3.97, a monthly change of 12.42, and a year-on-year change of 1.87% [2] - **Steel Mill Inventory**: The latest inventory is 650.33, with a weekly change of 4.60, a monthly change of 16.60, and a year-on-year change of -4.83% [2] - **Steel Mill Inventory Days**: The latest number of days is 11.97, with a weekly change of -0.05, a monthly change of 0.25, and a year-on-year change of -11.79% [2] Group 5: Futures Information - **Futures Contract 05**: The latest price is 1674, with a daily change of -19.50, a weekly change of -69.50, a monthly change of -56.00, and a year-on-year change of -5.26% [2] - **Futures Contract 09**: The latest price is 1748, with a daily change of -21.50, a weekly change of -70.50, a monthly change of -55.50, and a year-on-year change of -4.48% [2] - **Futures Contract 01**: The latest price is 1861, with a daily change of -16.00, a weekly change of 361.00, a monthly change of 272.50, and a year-on-year change of 0.59% [2] - **05 Basis**: The latest basis is 52.85, with a daily change of 19.50, a weekly change of 69.50, a monthly change of -50.69, and a year-on-year change of -52.75% [2] - **09 Basis**: The latest basis is -21.15, with a daily change of 21.50, a weekly change of 70.50, a monthly change of -51.19, and a year-on-year change of -63.75% [2] - **01 Basis**: The latest basis is -134.15, with a daily change of 16.00, a weekly change of -361.00, a monthly change of -379.19, and a year-on-year change of -156.75% [2] - **5 - 9 Spread**: The latest spread is 187.00, with a daily change of 3.50, a weekly change of 430.50, a monthly change of 328.50, and a year-on-year change of 104.00% [2] - **9 - 1 Spread**: The latest spread is -74.00, with a daily change of 2.00, a weekly change of 1.00, a monthly change of -0.50, and a year-on-year change of -11.00% [2] - **1 - 5 Spread**: The latest spread is -113.00, with a daily change of -5.50, a weekly change of -431.50, a monthly change of -328.00, and a year-on-year change of -93.00% [2]

Report Summary Report Industry Investment Rating No information provided Core Viewpoints No information provided Summaries by Relevant Catalogs Price and Profit - Provided the spot prices of various steel products in different regions from January 15 to January 21, 2026, including Beijing, Shanghai, Chengdu, etc. The prices of most steel products showed a downward trend, such as Beijing's rebar price dropping by 20 yuan, and Shanghai's cold-rolled coil price dropping by 10 yuan [1] Basis and Spread No information provided Production and Inventory No information provided

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Industry Insights - The People's Bank of China is accelerating the construction of a cross-border payment system for the renminbi, promoting interconnectivity in cross-border payments and aiming for a diversified and multi-layered development of the payment system [2] - The Ministry of Finance and four other departments announced the establishment of new duty-free shops at 41 ports to boost consumption, facilitating duty-free shopping for incoming travelers [3] - The demand for AI is driving significant revenue growth for several companies in the industry, with storage chip leader Demingli expected to achieve revenue of 10.3 billion to 11.3 billion yuan in 2025, representing a year-on-year increase of 115.82% to 136.77% [4] - The consumer electronics market is showing signs of recovery, with companies like Jin'an Guoji and Baiao Intelligent reporting impressive performance [4] Company Performance - Demingli, a leader in storage chips, anticipates a revenue increase of 115.82% to 136.77% in 2025, projecting revenues between 10.3 billion and 11.3 billion yuan [4] - Tianfu Communication, a core supplier of optical modules, expects a net profit growth of 40% to 60% in 2025 [4] - Jin'an Guoji forecasts a net profit of 280 million to 360 million yuan in 2025, reflecting a year-on-year increase of 655.53% to 871.40% [14] - Daikin Heavy Industries projects a net profit of 1.05 billion to 1.2 billion yuan in 2025, indicating a growth of 121.58% to 153.23% [14]

Group 1 - Dongtong Tui (formerly Dongfang Tong) officially delisted from the stock exchange on January 22, 2026, due to financial fraud, having inflated revenue by 432 million and profit by 314 million from 2019 to 2022 [1][17] - The stock price at delisting was 1.72 yuan, a decline of over 96% from its historical high of 43 yuan, affecting approximately 46,000 shareholders [1][17] - The company may transition to the "old three boards" for trading, where liquidity is low and further price declines are expected [1][12] Group 2 - ST Asia Pacific announced an expected loss of 51.46 million yuan for 2025, marking its third consecutive year of losses, with a negative net asset value of 0.318 yuan per share [4][14] - ST Changyao's stock has been below 1 yuan for 15 consecutive trading days, with a market value of 223 million yuan, facing imminent delisting risks due to financial misconduct [4][18] - ST Aowei's stock has experienced 25 consecutive trading days of declines, with a market value currently at 281 million yuan, indicating a high likelihood of delisting [6][18] Group 3 - A significant wave of share reductions occurred on January 21, with 23 companies announcing plans to reduce holdings, including 7 companies with reductions exceeding 3% of total shares [6][12] - Notable reductions include Wentai Technology planning to reduce 3739.95 million shares (3% of total shares) for an estimated amount of 1.517 billion yuan, and Jingchen Co. planning to reduce 1310 million shares (3.11% of total shares) for approximately 1.219 billion yuan [8][10] - The market is witnessing a divergence, with some stocks reaching new highs while others, particularly those at risk of delisting, continue to decline [12][14]

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会、全体董事及相关股东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。 预披露期间，若公司股票发生停牌情形的，实际开始减持的时间根据停牌时间相应顺延。 (一)相关股东是否有其他安排 □是 √否 重要内容提示： ●大股东持股的基本情况：截至本公告披露日，永安期货股份有限公司（以下简称"公司"或"发行人"） 股东浙江东方控股集团股份有限公司（以下简称"浙江东方"）持有公司股份166,427,690股，占公司总股 本11.43%，全部为无限售条件流通股。 ●减持计划的主要内容：浙江东方因自身经营发展需要，拟自2026年2月24日起3个月内通过集中竞价和 大宗交易方式合计减持公司股份不超过43,666,666股（含本数），即不超过公司总股本的3%。其中，拟 通过集中竞价交易方式减持不超过14,555,555股，拟通过大宗交易方式减持不超过29,111,111股。 一、减持主体的基本情况 ■ 上述减持主体无一致行动人。 二、减持计划的主要内容 ■ 无 三、减持计划相关风险提示 (二)大股东此前对持股比 ...

Summary of Key Points Core Viewpoint - On January 21, a total of 21 A-share listed companies disclosed their shareholding changes, with notable buybacks and reductions in shareholdings by various stakeholders [1][3]. Group 1: Buyback Information - Aotai Biological plans to repurchase company shares worth between 100 million to 200 million yuan [2][4]. Group 2: Shareholding Reductions - Shenzhan Optoelectronics: Shareholder Songbao Investment intends to reduce holdings by no more than 1% [2][4]. - Hengshuai Co., Ltd.: Actual controller Yu Guomei and associated parties plan to reduce holdings by no more than 2.83% [2][4]. - Weining Health: Senior management member Wang Li plans to reduce holdings by no more than 0.0128% [2][4]. - Deepwater Haina: Shareholder Li Qin and associated parties plan to reduce holdings by no more than 1.92% [2][4]. - Xiangyuan New Materials: Shareholders Hubei Gaotou and Liangke Gaotou plan to reduce holdings by no more than 1.68% [2][4]. - Hongxing Co., Ltd.: Executives Liu Genxiang and Cheng Shengxiang plan to reduce holdings by no more than 0.06% [2][4]. - Kalait: Controlling shareholders plan to reduce holdings by no more than 3% [2][4]. - Glinda: Shareholder Juhe Investment plans to reduce holdings by no more than 3% [2][4]. - Fushi Holdings: Directors and executives plan to reduce holdings by no more than 0.04% [2][4]. - Xinxinda: Shareholders plan to reduce holdings by no more than 3% [2][4]. - Dongjian Technology: Shareholder and director Ma Huiyang plans to reduce holdings by no more than 2.56% [2][4]. - Yayi Technology: Shareholder Qinyi Partnership plans to reduce holdings by no more than 0.1846% [2][4]. - Jingrui Electric Materials: Controlling shareholder Xinyin International plans to reduce holdings by no more than 2% [2][4]. - Xueqi Electric: Shareholder Zhi Dao Investment plans to reduce holdings by no more than 3% [2][4]. - Blue Arrow Electronics: Shareholder Yin Shengyu reduced holdings by 2.3995 million shares from January 16 to January 20 [2][4]. - Wentai Technology: Zhuhai Ronglin and associated parties plan to reduce holdings [2][4]. - Tianwang Electric: Controlling shareholders plan to reduce holdings by no more than 1.09% [2][4]. - Beifang Navigation: Chairman Li Haitao plans to reduce holdings by no more than 31,100 shares [2][4]. - Huada New Materials: Shareholders plan to reduce holdings by no more than 1.46% [2][4]. - Yong'an Futures: Shareholder Zhejiang Dongfang plans to reduce holdings by no more than 3% [2][4]. - Xinjie Electric: Senior management member Guo Zhiqiang plans to reduce holdings by no more than 0.41% [2][4].

证券日报网讯 1月21日，永安期货发布公告称，截至本公告披露日，公司股东浙江东方控股集团股份有 限公司（简称"浙江东方"）持有公司股份166，427，690股，占公司总股本11.43%。浙江东方因自身经 营发展需要，拟自2026年2月24日起3个月内通过集中竞价和大宗交易方式合计减持公司股份不超过43， 666，666股（含本数），即不超过公司总股本的3%。其中，拟通过集中竞价交易方式减持不超过14， 555，555股，拟通过大宗交易方式减持不超过29，111，111股。 （编辑 任世碧） ...