来源：沐甜科技 品种：白糖SR 日期：2026-02-06名次会员简称交易量（手）增减量会员简称持买仓量增减量会员简称 持卖仓量增减量1东证期货（代客）74,794-438中粮期货（代客）67,9611,553中粮期货（代客） 100,1394,7192中信期货（代客）58,9805,673银河期货（代客）54,914409中信期货（代客）68,5571,7583 国泰君安（代客）39,3854,691东证期货（代客）49,173-861乾坤期货（代客）49,2742,1044广发期货 （代客）32,3971,636中信期货（代客）37,917260东证期货（代客）34,1241,3935南华期货（代客） 28,5403,999国泰君安（代客）28,1821,326浙商期货（代客）32,538-496五矿期货（代客）26,8794,682华 泰期货（代客）23,027-225华泰期货（代客）26,653-1,3007海证期货（代客）23,8153,506永安期货（代 客）18,7412,086永安期货（代客）24,7051,0818银河期货（代客）19,3703,228中信建投（代客）15,917- 1,07 ...

期货市场不仅是实体经济风险管理的核心平台，更是上海国际金融中心与全球资产管理中心建设的重要 支撑。 上海市人大代表、国泰君安期货有限公司计划财务部总经理助理马炜在今年上海两会现场告诉《国际金 融报》记者，上海期货市场一直扎根实体经济，产融服务基地在去年数量达到120多家，还通过系统升 级、机制优化帮助企业降成本，上海自贸试验区也为"期现联动"提供了政策支持。 但马炜认为，当前服务仍存在精准匹配不足、数字化协同不深等问题，比如，对新能源、高端制造这些 重点产业的定制化服务还不够；期现数据没能全部打通；中小微企业想做套期保值、风险管理的门槛较 高；各方协同还有待加强等。 因此，马炜建议，"由上期所牵头，联合行业龙头、优质期货公司及产融服务基地，组建'产业服务联 盟'，针对链上中小微企业特点，设计一站式'价格风险解决方案包'"，他认为，"龙头带中小"的帮扶机 制能够提升整个产业链抗风险能力。 马炜表示，搭建期现一体化的数字平台，让数据直接帮助企业管理风险，这样能实现"数据多跑路、企 业少跑腿"。对于战略产业链中的中小企业，马炜认为，要降低参与门槛，简化流程、设专项担保，帮 助它们用得上、用得好风险管理工具。 马炜还 ...

中国经济网北京2月6日讯 今日，国泰海通资管公告，张静离任国泰海通中证港股通高股息投资指 数发起(QDII)、国泰海通中证香港科技指数发起（QDII）。 张静历任英国瑞盟集团、上海敦煌财富管理公司家族办公室负责人，负责客户家族资产海外投资管 理；2016年8月加入上海国泰君安证券资产管理有限公司，历任跨境业务部、国际业务部、全球资本市 场部总经理助理，现任综合策略投资部总经理助理。自2024年10月8日起担任基金经理。 | 基金名称 | 国泰海通中证港股通高股息投资指数型发起式证券投资基金(QDII) | | --- | --- | | 基金简称 | 国泰海通中证灌胶通高股息投资指数发起(QDII) | | 基金主代码 | 023073 | | 基金管理人名称 | 上海国泰海迪正券资产管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息技解管理办法》、《东企管理公司投资管理 人员管理指导意见》等相关法律法规规定 | | 基金经理变更差型 | 解聘基金经理 | | 共同管理本基金的其他基金经理 姓名 | 钱玲玲,邓雅琨 | | 离任基金经理姓名 | 张静 | | 基金名称 | 国泰海通中证香港科技指数 ...

1月7日，富特科技披露《2025年度向特定对象发行A股股票募集说明书(修订稿)》。本次向特定对象发 行A股股票募集资金总额不超过52,822.22万元，扣除发行费用后拟用于新能源汽车核心零部件智能化生 产制造项目(三期)、新能源汽车车载电源生产项目第二基地购置项目、新一代车载电源产品研发项目、 补充流动资金。 | 序号 | 项目名称 | 投资总额 | 募集资金拟投入金额 | | --- | --- | --- | --- | | | 杜此還沒有些核心不部件智能化生活 制造项目(三期) | 23.424.79 | 23,424.79 | | | 一带回居在井默申露中出印度提瑞 基地购置项目 | 15,960.26 | 15,500.00 | | | 新一代车载电源产品研发项目 | 3.642.43 | 3.642.43 | | 1 | 补充流动资金 | 10.255.00 | 10,255.00 | | | 合计 | 53,282.47 | 52.822.22 | 本次向特定对象发行的股票为境内上市人民币普通股(A股)，每股面值为人民币1.00元。 本次发行采取向特定对象发行股票的方式，公司将在通过深交所审核并 ...

Core Insights - The establishment of Shanghai M&A Private Equity Fund Phase III with a capital contribution of 830 million RMB [1] Group 1: Fund Details - The fund is managed by Haitong M&A (Shanghai) Private Fund Management Co., Ltd. [1] - The fund's operational scope includes private equity investment, investment management, and asset management activities [1] Group 2: Contributors - The fund is jointly funded by Haitong Kaiyuan Investment Co., Ltd., Haitong M&A (Shanghai) Private Fund Management Co., Ltd., and Changxin Bochuang [1]

明星策略分析师张忆东的下一站正式落定。原兴业证券全球首席策略分析师张忆东已加盟国泰海通，担 任海通国际证券执委会委员、股票研究部主管及首席经济学家，分管股票研究部与股票销售交易部。目 前中证协官网尚未更新张忆东最新执业信息，但他已在个人社交账号上转发相关新闻确认了这一消息， 也对外回应表示："感谢亲朋好友、境内外的投资者朋友们的厚爱和祝福。"去年末，张忆东在个人公众 号"张忆东策略世界"官宣从兴业证券离职，其表示经过长时间考虑，出于对自己职业生涯后半程的转型 规划及家庭因素考量，已于正式向兴业证券提出辞职申请，"即将转型海外业务，专注于香港及海外资 本市场的拓展。" 点评：明星分析师张忆东履新海通国际，将强化其在港市场研究实力。作为核心人才，其策略视野有助 提升公司品牌影响力与市场话语权，利好相关业务拓展。券商业竞争白热化，头部机构招兵买马意在巩 固优势，此举或加剧券商研究板块分化。人才流动折射行业生态变化，资本市场对专业价值认可度持续 提升。 NO.31月123只新基金成立，募资超1200亿元 1月，国内基金发行市场呈现"数量规模双丰收"的良好态势。最新统计数据显示，全月共有123只新基金 完成发行并成立， ...

Investment Rating - The report maintains an "Outperform" rating for the non-bank financial sector [5][4]. Core Insights - The report emphasizes that the intervention of stabilization funds has become a normalized and institutionalized mechanism in capital markets, which requires institutional investors to adapt their asset allocation strategies to include policy variables for long-term considerations [2][11]. - The shift from direct intervention in individual stocks to a focus on broad-based ETFs represents a strategic evolution aimed at maintaining market stability while minimizing distortions in price signals [3][52]. - The report highlights that the actions of the "national team" in stabilizing the market have led to a gradual formation of a "slow bull" market, improving the operating environment for non-bank financial sectors and enhancing long-term valuations for brokerages and insurance companies [3][12]. Summary by Sections Overseas Perspective - Stabilization funds are viewed as essential stabilizing forces in capital markets, with examples from Japan and the U.S. demonstrating their long-term operational roles rather than short-term emergency measures [2][11]. - Japan's central bank has become a major player in market interventions, with its ETF holdings reaching approximately 37 trillion yen by the end of 2025, indicating a shift to a normalized intervention strategy [14][20]. Domestic Practice - Since 2023, the central financial institutions in China have optimized their strategies by focusing on increasing holdings in broad-based ETFs like the CSI 300 and SSE 50, which has effectively reduced irrational market volatility and guided investors towards core market assets [3][12]. - The report notes that this transition from precise stock interventions to macro-guided asset combinations has laid a solid foundation for a long-term value return in the market [3][12]. Key Company Earnings Forecasts - The report provides earnings per share (EPS) and price-to-earnings (PE) ratios for several companies, all rated as "Outperform": - China Ping An: EPS 7.87 (2025E), PE 8.56 (2025E) [4] - China Life: EPS 6.07 (2025E), PE 8.02 (2025E) [4] - China Pacific Insurance: EPS 5.40 (2025E), PE 8.28 (2025E) [4] - CITIC Securities: EPS 2.21 (2025E), PE 12.83 (2025E) [4] - Guotai Junan: EPS 1.53 (2025E), PE 13.08 (2025E) [4] - Industrial Securities: EPS 0.39 (2025E), PE 17.69 (2025E) [4] - Dongfang Securities: EPS 0.69 (2025E), PE 14.84 (2025E) [4]

Core Viewpoint - The National Cybersecurity Incident Response Center has identified 72 mobile applications that illegally collect and use personal information, including several financial apps, highlighting significant compliance issues in the industry [1][2]. Group 1: Overview of Violations - A total of 72 mobile applications were flagged for illegal collection and use of personal information between December 26, 2025, and January 20, 2026 [1]. - Among the flagged apps, several financial applications were noted, including Zhongshan Securities, Dazhihui, Guotai Junan Futures, and Wukuang Futures [1]. Group 2: Specific Violations in Financial Apps - Dazhihui was found to have the most violations, totaling six, including failure to clearly inform users about privacy policies and collection practices [2]. - Specific violations included not providing clear consent mechanisms, not listing the purposes and methods of data collection, and failing to inform users about third-party data sharing [2][3]. - Other issues included inadequate options for users to correct or delete their personal information and lack of mechanisms for withdrawing consent for data collection [3].

Core Viewpoint - The liquidity crisis is intensifying market volatility, accelerating the repricing of major asset classes, while global equities and commodities may still present performance opportunities. The recommendation is to overweight AH shares, US stocks, crude oil, and industrial commodities in February [1][2]. Group 1: Strategic Asset Allocation Framework - The company has developed an "all-weather" asset allocation framework consisting of Strategic Asset Allocation (SAA), Tactical Asset Allocation (TAA), and Major Event Review Adjustments to guide investment decisions [2]. - SAA aims to diversify macro risks and set long-term allocation benchmarks to ensure portfolio robustness, while TAA uses quantitative methods to identify assets with superior short-term risk-return characteristics and adjusts portfolio weights accordingly [2]. - The final step involves subjective review of major events to calibrate and supplement quantitative results [2]. Group 2: Equity Asset Recommendations - Multiple factors support the performance of Chinese equities, recommending an overweight in A/H shares. The upcoming economic work conference and the expectation of further expansion in the broad deficit suggest a more proactive economic policy [3]. - The Federal Reserve is expected to lower interest rates in December, and the stable appreciation of the RMB provides favorable conditions for monetary easing in early 2026, enhancing market risk appetite [3]. - The "Goldilocks" scenario is emerging, favoring US stock performance, with the US economy showing resilience despite marginal cooling, and corporate earnings expectations potentially supporting upward movement in US stock indices [3]. Group 3: Bond Asset Recommendations - The recommended bond allocation weight for February 2026 is 35.00%, including long-term and short-term government bonds [4]. - Structural monetary policy may strengthen the allocation to government bonds, as the imbalance between financing demand and credit supply remains a reality, but the trend of rising risk appetite may lead to a rebalancing of asset allocations [4]. - The US economy is cooling but not stalling, with a moderate decline in the labor market and favorable conditions for reducing inflationary pressures, suggesting a potential decline in US Treasury yields [4]. Group 4: Commodity Asset Recommendations - The recommended commodity allocation weight for February 2026 is 12.50%, with an overweight in crude oil and industrial commodities [5]. - The geopolitical situation in the Middle East is intensifying, suggesting an overweight in crude oil, as global demand remains relatively weak, and OPEC+ has decided to continue production cuts [5]. - Demand expectations for industrial commodities are being revised upward, with structural demand driven by construction, electric grids, and electric vehicles, indicating a potential supply-demand imbalance for industrial metals like copper [5].

登录新浪财经APP 搜索【信披】查看更多考评等级 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！ 证券代码：601211 证券简称：国泰海通 公告编号：2026-006 国泰海通证券股份有限公司 关于A股限制性股票激励计划预留授予部分第三个限售期解除限售暨上市公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为2,916,898股。 ● 本次股票上市流通总数为2,916,898股。 ● 本次股票上市流通日期为2026年2月12日。 ● 公司高级管理人员自愿性承诺：基于对公司未来发展前景的信心及对公司价值的认可，在本次公司A 股限制性股票解除限售上市流通之日起12个月内，不以任何方式减持公司A股股票，亦不会要求公司回 购所持公司A股股票。 国泰海通证券股份有限公司（曾用名：国泰君安证券股份有限公司，以下简称国泰海通或本公司或公 司）于2026年1月20日召开第七届董事会第十次会议（临时会议），审议通过了《关于公司A股 ...