Market Overview - On February 4, the A-share market experienced a decline, with the Shanghai Composite Index turning negative and the ChiNext Index dropping over 2%. The total trading volume in the Shanghai and Shenzhen markets reached 1.63 trillion yuan, an increase of 12.7 billion yuan compared to the previous trading day, with over 2900 stocks declining [1]. Sector Performance - The space photovoltaic concept showed strong performance, with Zhonglai Co. hitting the daily limit and Guosheng Technology achieving two consecutive limits. The airport and shipping sectors also performed well, with China Eastern Airlines and Huaxia Airlines reaching their daily limits. The real estate sector was active, with Rong'an Real Estate and Caixin Development hitting their daily limits. The hydrogen energy concept surged, with Jingcheng Co. and Zhiyuan New Energy reaching their daily limits [4]. - The coal sector experienced a significant surge, with major coal companies like Yanzhou Coal Mining and China Coal Energy both hitting their daily limits. Other stocks such as Shaanxi Black Cat and Meijin Energy also reached their daily limits, while Shaanxi Coal and Chemical, Shanxi Coal International, Xinji Energy, and China Shenhua followed suit [4]. Coal Supply Impact - Reports indicate that the Indonesian government has proposed a significant production cut, leading to a suspension of spot coal exports by local miners. China is the largest importer of Indonesian coal, with an expected import of 242 million tons in 2024, accounting for 42.73% of Indonesia's total exports. This suspension is projected to impact China's thermal coal supply by 5.3%, increasing inventory pressure on power plants in Southeast China. Additionally, there are reports of rising coal prices domestically [6]. Precious Metals Market - The precious metals sector opened with a rebound but later turned negative, with companies like Zijin Mining and Hunan Gold experiencing declines. The National Investment Silver LOF resumed trading and hit the daily limit down, with a latest premium rate of 64.6%. After significant drops on January 30 and February 2, spot gold prices rebounded to over $5000, while spot silver reached $88 per ounce [7]. - Market sentiment remains volatile, with speculative funds showing significant movement. The geopolitical uncertainty surrounding US-Iran negotiations continues to pose risks. Overall, the precious metals market is influenced heavily by market emotions, with short-term volatility risks to be monitored, while long-term trends remain optimistic [7]. Individual Stock Highlights - Guizhou Moutai's stock rose over 2%, reaching a price above 1500 yuan for the first time since September 15, 2025 [8]. Hong Kong Market - The Hang Seng Technology Index fell over 2%, with many tech stocks in Hong Kong experiencing declines. Notable drops included Bilibili down over 4%, Tencent Holdings down over 3%, and other companies like Baidu, Lenovo, NetEase, Meituan, and Xiaomi all falling over 2% [9]. Cryptocurrency Market - The cryptocurrency market saw a collective downturn, with Bitcoin experiencing a high-level correction of nearly 40% [10].

每经编辑｜段炼 2月4日，A股早盘震荡调整。截至中午休市，沪指报4067.67点，基本平收；深证成指报13997.72点，跌0.92%；创指报3266.99点，跌1.74%。全市超2300 股上涨，近3000股下跌。 煤炭股强势爆发，兖矿能源、中煤能源、陕西黑猫、晋控煤业等多股涨停；地产板块走强，荣安地产、京投发展、财信发展涨停；航空股"起飞"，东航涨 停，国航、南航等大涨。 | 新闻 | 大V 成分 | 资金 | 研报 | | | --- | --- | --- | --- | --- | | √ 含新股次新股 | | 最新 | 涨幅 | 5分钟涨速 | | 究矿能源 | | | | | | SH600188 | | 15.27 | +10.01% | 0.00% | | 业绩龙头 4 市值龙头 4 | | | | | | 美锦能源 | | 5.17 | +10.00% | 0.00% | | SZ000723 | | | | | | 中煤能源 SH601898 | | 14.08 | +10.00% | 0.00% | | 业绩龙头 2 市值龙头 3 | | | | | | 陕西黑猫 | | 4.62 | ...

Market Overview - The A-share market experienced a volatile decline, with the Shanghai Composite Index turning negative and the ChiNext Index dropping over 2% during the session [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.62 trillion yuan, an increase of 116 billion yuan compared to the previous trading day [1] Sector Performance - The space photovoltaic concept saw a significant surge, with Zhonglai Co. hitting the daily limit up of 20% and Guosheng Technology achieving two consecutive limit-ups [3] - The coal sector rebounded collectively, with Yanzhou Coal, China Coal Energy, and Shanxi Black Cat all reaching the daily limit up [3] - The airport and shipping sectors strengthened, with China Eastern Airlines and Huaxia Airlines also hitting the daily limit up [3] - The real estate sector was active, with Rong'an Real Estate and Caixin Development reaching the daily limit up [3] - The hydrogen energy concept experienced a rapid rise, with Beijing Capital and Zhiyuan New Energy hitting the daily limit up [3] Declining Sectors - The precious metals sector opened high but fell back, with Zhaojin Mining and Sichuan Gold experiencing significant declines [3] - The AI application sector saw a collective downturn, with Yili Media hitting the daily limit down [3] Closing Summary - By the end of the trading session, the Shenzhen Component Index fell by 0.92%, and the ChiNext Index dropped by 1.74% [3]

2月4日，煤炭股爆发，兖矿能源、中煤能源、陕西黑猫、美锦能源、晋控煤业、云煤能源涨停，潞安环能、山 西焦化、宝泰隆、山煤国际、新集能源、大有能源等大涨。煤炭ETF一度大涨超7%，并带领红利指数狂拉超 2%。那么，究竟发生了什么？ | ■ 煤炭(32) | | . | 张幅%。 | 现价 | 量比 | 涨速% | 总市值 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 究矿能源 | R | 10.01 | 15.27 | 5.09 | 0.00 | 1532.72亿 | | 2 | 中煤能源 | R | 10.00 | 14.08 | 3.26 | 0.00 | 1866.82亿 | | 3 | 陕西崇猫 | R | 10.00 | 4.62 | 1.84 | 0.00 | 94.36亿 | | 4 | 美锦能源 | R | 10.00 | 5.17 | 3.73 | 0.00 | 227.66亿 | | 5 | 昌控煤业 | R | 9.99 | 15.86 | 4.41 | 0.00 | 265.45亿 | | 6 | 云煤能源 | | 9 ...

Group 1 - The methanol concept sector is active, with companies such as Yanzhou Coal Mining, Shanxi Black Cat, and China Coal Energy reaching the daily limit up [1] - Yunnan Coal Energy and Shanxi Coking Coal are among the stocks with significant gains [1]

Group 1 - The coke sector experienced a 1.14% increase on February 3, with Yunwei Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Key stocks in the coke sector showed varying performance, with Yunwei Co., Ltd. closing at 4.71, up 3.06%, and Shanxi Coking Coal at 4.42, unchanged [1] Group 2 - The net outflow of main funds in the coke sector was 75.75 million yuan, while retail investors saw a net inflow of 125 million yuan [1] - Detailed fund flow data indicated that Yunwei Co., Ltd. had a main fund net inflow of 25.40 million yuan, while retail investors had a net outflow of 19.83 million yuan [2] - Other companies like Antai Group and Shaanxi Black Cat also experienced mixed fund flows, with significant retail inflows for some stocks despite overall net outflows [2]

Core Viewpoint - The coking coal sector experienced a significant decline, with a 7.64% drop on February 2, led by Shaanxi Black Cat, amidst a broader market downturn reflected in the Shanghai Composite Index and Shenzhen Component Index [1] Group 1: Market Performance - On February 2, the Shanghai Composite Index closed at 4015.75, down 2.48%, while the Shenzhen Component Index closed at 13824.35, down 2.69% [1] - The coking coal sector saw individual stock performances with notable declines, including Shaanxi Black Cat down 10.04% and Meijin Energy down 7.91% [1] Group 2: Trading Volume and Capital Flow - The coking coal sector experienced a net outflow of 343 million yuan from main funds, while retail investors saw a net inflow of 366 million yuan [1] - The trading volume for key stocks included 1.86 billion yuan for Yunwei Co. and 6.77 billion yuan for Shanxi Coking [1] Group 3: Individual Stock Analysis - Major declines in individual stocks included: - Shaanxi Black Cat: 4.12 yuan, down 10.04%, with a trading volume of 1.33 million shares [1] - Meijin Energy: 4.66 yuan, down 7.91%, with a trading volume of 2.06 million shares [1] - The table of individual stock performances indicates significant losses across the board, with the highest decline being 10.04% for Shaanxi Black Cat [1][2]

Group 1 - The coal stocks in the A-share market experienced a collective decline, with Daya Energy hitting the daily limit down and Shaanxi Black Cat dropping over 8% [1] - Other companies such as Baotailong, China Coal Energy, and Meijin Energy fell more than 7%, while Shanxi Coking Coal, Yunmei Energy, and several others dropped over 6% [1] - The overall trend indicates a significant downturn in the coal sector, affecting multiple companies with varying degrees of decline [1] Group 2 - Daya Energy saw a decrease of 9.91% with a total market value of 15.9 billion [2] - Shaanxi Black Cat declined by 8.73%, holding a market capitalization of 8.538 billion [2] - Baotailong's stock fell by 7.99%, with a market value of 6.398 billion [2] - China Coal Energy dropped by 7.68%, with a market capitalization of 167.5 billion [2] - Meijin Energy decreased by 7.31%, valued at 20.7 billion [2] - Shanxi Coking Coal fell by 6.98%, with a market value of 38.6 billion [2] - Yunmei Energy declined by 6.72%, holding a market capitalization of 4.773 billion [2] - Other companies such as Electric Power Investment Energy, Zhengzhou Coal Electricity, and Shaanxi Coal Industry also reported declines ranging from 5.21% to 6.40% [2]

Core Viewpoint - The coking coal sector experienced a slight increase of 0.59% on January 30, with Yunmei Energy leading the gains, while the overall Shanghai Composite Index fell by 0.96% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4117.95, down 0.96% [1] - The Shenzhen Component Index closed at 14205.89, down 0.66% [1] - The coking coal sector stocks showed mixed performance, with Yunmei Energy rising by 5.25% to a closing price of 4.61 [1] Group 2: Stock Performance - Yunmei Energy (600792) led the sector with a closing price of 4.61 and a rise of 5.25%, with a trading volume of 1.21 million shares and a transaction value of 570 million [1] - Shaanxi Black Cat (601015) increased by 3.39% to 4.58, with a trading volume of 1.80 million shares and a transaction value of 844.7 million [1] - Antai Group (600408) rose by 2.54% to 4.03, with a trading volume of 1.09 million shares and a transaction value of 448 million [1] - Meijin Energy (000723) saw a modest increase of 0.80% to 5.06, with a trading volume of 2.92 million shares and a transaction value of 1.489 billion [1] - Shandong Jiao Hua (600740) decreased by 2.32% to 4.64, with a trading volume of 2.13 million shares and a transaction value of 1.028 billion [1] - Yunwei Co. (600725) fell by 2.86% to 4.76, with a trading volume of 551,800 shares and a transaction value of 263 million [1] Group 3: Capital Flow - The coking coal sector saw a net inflow of 249 million from main funds, while retail investors experienced a net outflow of 2.42 billion [1] - The main fund inflow for Meijin Energy was 126 million, accounting for 8.48% of its total [2] - Yunmei Energy had a main fund inflow of 100 million, representing 17.62% of its total [2] - Shaanxi Black Cat recorded a main fund inflow of 70.28 million, making up 8.33% of its total [2] - Antai Group had a main fund inflow of 32.66 million, which is 7.29% of its total [2] - Shandong Jiao Hua experienced a significant net outflow of 12.58% from main funds [2]

Group 1 - The core viewpoint of the news is that coal stocks in the A-share market experienced a significant increase, with several companies reaching their daily limit up, indicating strong market performance despite broader market trends [1] - Panjiang Coal and Electricity Co. (盘江股份) forecasts a net profit increase of 205.30% to 264.83% by 2025, which is a strong indicator of future growth potential [1] Group 2 - Notable stock performances include Panjiang Coal and Electricity Co. rising by 10.06% with a total market capitalization of 11.7 billion, and Yunmei Energy (云煤能源) increasing by 10.05% with a market cap of 5.35 billion [2] - Other companies such as Dayou Energy (大有能源) and Shaanxi Black Cat (陕西黑猫) saw increases of over 6%, with market caps of 17.8 billion and 9.64 billion respectively [2] - The overall trend in the coal sector is positive, as indicated by the MACD golden cross signal formation, suggesting a favorable outlook for these stocks [2]