Market Overview - The market opened high and fluctuated throughout the day, with all three major indices rising collectively. The trading volume reached 3.12 trillion [1] - The photovoltaic sector saw a significant surge, with over 30 stocks including Longi Green Energy and Aiko Solar hitting the daily limit [1] - The commercial aerospace concept continued its strong performance, with nearly 20 stocks including Goldwind Technology and Aerospace Electronics also reaching the daily limit [1] - The precious metals sector remained strong, with stocks like China Gold and Silver Nonferrous hitting the daily limit [1] - In contrast, CPO concept stocks fell, with New Yisheng, Zhongji Xuchuang, and Tianfu Communication dropping over 5% [1] Photovoltaic Sector - The photovoltaic sector experienced a wave of limit-up stocks, with JunDa Co., Shuangliang Energy, Maiwei Co., and Saiwu Technology among those hitting the limit [4] - Elon Musk announced that SpaceX and Tesla are increasing solar energy production capacity, aiming for an annual target of 100GW [5] - JunDa Co. achieved a two-day limit-up, with a latest price of 99.44 and a 10% increase, while Shuangliang Energy rose by 9.94% to 7.85 [5] Aerospace Sector - The aerospace sector continued to rebound significantly, with stocks like Jieli Rigging and West Materials hitting the daily limit [7] - A press conference for the "Space Tourism Global Launch" was held, showcasing China's first commercial manned spacecraft, "Chuan Yue Zhe No. 1" [7] - Blue Arrow Aerospace's IPO status changed to "inquiry" on the Shanghai Stock Exchange [7] Lithium Battery Sector - The lithium battery sector saw a substantial increase, with stocks like Dazhong Mining and Weiling Co. hitting the daily limit [10] - Lithium carbonate futures surged by 5.47%, with a cumulative increase of over 20% in the past four trading days [10] - The market is experiencing a phase of supply-demand mismatch, with strong demand for lithium carbonate driven by battery exports and inventory shortages [11] Future Outlook - According to Citic Futures, the lithium market is expected to transition from slight oversupply to tight balance by 2026, with demand growth projected at 30% and supply growth at 25% [13] - The aerospace industry is anticipated to enter a low-cost era with the successful implementation of reusable rocket technology, benefiting upstream sectors such as high-temperature alloys and special materials [9]

Core Viewpoint - The photovoltaic industry chain stocks have collectively surged, leading to a wave of stock price limits being hit, driven by the space photovoltaic concept and strong performance in related sectors [1][4]. Photovoltaic Industry - The space photovoltaic concept has catalyzed a significant rise in the entire photovoltaic industry chain, with multiple stocks hitting their daily price limits. Notable performers include Liancheng CNC and Optech, both reaching a 30% increase, while companies like Maiwei and Jiejia Weichuang saw a 20% rise [4]. - The market saw a strong performance from various photovoltaic stocks, with over ten stocks achieving a 20% increase, and others like Longi Green Energy and Junda shares also showing significant gains [4]. Market Performance - On January 23, the A-share market indices rose across the board, with the North Securities 50 Index increasing by nearly 4%. The total market turnover exceeded 3 trillion yuan, with over 3,900 stocks gaining, and more than 120 stocks hitting their daily limits [2]. - The A-share market's strong performance was complemented by a notable increase in the non-ferrous metals sector, with cobalt, nickel, and gold stocks performing particularly well [2][8]. Precious Metals - International gold prices surged, with spot gold breaking through $4,950 per ounce, marking a historical high. The COMEX gold futures also saw significant gains, reaching up to $4,970 per ounce [10]. - The continuous rise in gold prices over the past three years has been attributed to various factors, including geopolitical tensions and concerns over the U.S. dollar's credibility, with expectations of further increases in gold prices [10]. Retail Pharmacy Sector - The retail pharmacy sector experienced a collective rise, with stocks like Yifeng Pharmacy hitting their daily limit, and others like Dazhenglin and Renmintongtai also showing strong performance [12]. - Recent policies from the Ministry of Commerce and other departments aim to promote high-quality development in the pharmaceutical retail industry, encouraging mergers and optimizing the business environment for pharmacies [14].

Market Overview - On January 23, A-shares saw all three major indices rise, with the Shanghai Composite Index up 0.33% to 4136 points, the Shenzhen Component Index up 0.79%, and the ChiNext Index up 0.63%. The North Star 50 Index surged by 3.82% [1] - The total market turnover reached 3.12 trillion yuan, an increase of 401.7 billion yuan compared to the previous trading day, with over 3900 stocks rising and 122 stocks hitting the daily limit [1] Sector Performance - The A-share market exhibited a divergence in performance, with the Shanghai 50 Index dropping over 1%. The CPO concept showed weak performance, with Xinyi Technology (300502) falling over 6%. Major sectors such as insurance and banking led the market decline [1] - In contrast, the domestic commodity futures market saw widespread gains, with lithium carbonate futures on the Guangxi Futures Exchange breaking through 180,000 yuan per ton, marking a rise of over 6% and reaching a new high since September 2023 [2] Precious Metals - Gold and silver continued to rise sharply, with spot gold stabilizing at 4950 USD per ounce and spot silver approaching the 100 USD mark, with an intraday increase of nearly 3%. Shanghai silver rose over 8% [2] - The National Investment Silver LOF (161226) experienced a volatile trading session, initially dropping over 8% before recovering to close down 1.15%, with a trading volume exceeding 4 billion yuan [3] Solar Energy Sector - The photovoltaic sector in A-shares experienced a significant surge, with Longi Green Energy (601012) and other companies seeing their stocks hit the daily limit. Notably, JunDa Co. (002865) achieved a two-day consecutive limit-up, while its H-shares soared over 49%, reaching a historical high [4] - The commercial aerospace sector is benefiting from favorable policies, technology advancements, and capital influx, driving rapid development in the space photovoltaic niche [9][10] Company Developments - Companies like JinkoSolar and Trina Solar are actively exploring market opportunities in space photovoltaics, with JinkoSolar's chairman emphasizing the need to explore this market [14] - Trina Solar has announced plans to accelerate the commercialization of perovskite solar cells and has made significant advancements in various solar technologies [14] - JunDa Co. has disclosed plans to invest 30 million yuan to acquire a 16.67% stake in Shanghai Xingyi Chip Energy, aiming to enter the low-orbit and space photovoltaic markets [15]

消息面上，北京时间1月23日上午，伦敦现货黄金价格历史首次突破4960美元/盎司，续创历史新高。此 外近期，国际投资机构相继调整贵金属目标价。高盛将黄金今年底目标价从每盎司4900美元上调至5400 美元。花旗集团近日将近3个月黄金目标价上调至每盎司5000美元。 热门个股方面，华峰铝业、铜陵有色、白银有色、兴业银锡等集体涨超9%，驰宏锌锗、国城矿业、中 金岭南等涨超7%，永兴材料等涨超6%，北方稀土、华友钴业等跟涨。 中国银河证券表示，特朗普宣布将因格陵兰岛问题自2月1日起对欧洲8国出口至美国的所有商品加征关 税，法国等欧洲多国强势回应，全球地缘冲突仍在加剧。此外，特朗普政策对新任美联储主席的任命也 即将出台，叠加对现任主席鲍威尔的调查，美联储独立性受动摇或将再度提升市场对美联储的降息预 期。在美元流动性边际宽松与全球地缘冲突加剧争夺关键战略资源的情况下，预计黄金、白银等贵金属 价格仍将上涨，建议关注A股贵金属龙头。 1月23日午后，沪深两市震荡上行，盘面热点快速轮动，盘面上，贵金属概念延续强势，今日上午白银 有色4连板，中国黄金、豫光金铅涨停；截至14：45，有色金属ETF基金（516650）涨2.79% ...

ETF放量突破上市高点，或为资金买点信号！截至发稿，有色ETF华宝（159876）获资金实时净申购5220万份，拉长时间来看，近20日狂揽8.44亿元！ 冲击日线5连阳！今日（1月23日）有色金属板块延续猛烈攻势，板块热门ETF——有色ETF华宝（159876）场内涨幅盘中上探3.55%，现涨3.29%，续创历 史新高！实时成交额1.07亿元，当前成交额已超昨天全天。 | 序号 | 名称 | 涨跌幅 ▼ | 两日图 | 申万一级行业 | 申万二级行业 | 申万三级行业 | 总市值 | 成交额 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 白银有色 | 9.97% CARDER | | 有色会属 | 工业会属 | #司 | 768亿 | 30.29亿 | | 2 | 铜陵有色 | 9.94% | | 有色全属 | 工业会属 | सब | 22026 | 48.89亿 | | 3 | 路口座原 | 9.60% ~~ | | 有色全属 | 当分属 | 白银 | 464亿 | 80.03亿 | | 4 | 兴业银锡 | 9.13% K ...

Core Viewpoint - The non-ferrous metal sector is experiencing a strong rally, with the popular ETF, Huabao Non-Ferrous ETF (159876), reaching a historical high and significant trading volume, indicating potential investment opportunities [1][11]. Group 1: Market Performance - The non-ferrous metal sector has shown a robust performance, with the Huabao Non-Ferrous ETF (159876) rising by 3.29% and achieving a trading volume of 1.07 billion yuan, surpassing the previous day's total [1][9]. - Major stocks in the sector, such as Baiyin Non-Ferrous and Tongling Non-Ferrous, have seen significant gains, with Baiyin Non-Ferrous up by 9.97% and Tongling Non-Ferrous by 9.94% [2][14]. - The overall market sentiment is positive, with the non-ferrous metal sector leading among 31 primary sub-industries in the A-share market [5][13]. Group 2: Gold Price Surge - International gold prices have surged, with spot gold reaching 4,950 USD per ounce, marking a new historical high, while COMEX gold futures peaked at 4,970 USD per ounce [2][10]. - The rise in gold prices is attributed to factors such as geopolitical tensions, U.S. risks, and central bank gold purchases, which are expected to support gold prices in the future [3][13]. Group 3: Investment Trends - The Huabao Non-Ferrous ETF has seen a net subscription of 52.2 million units, accumulating 844 million yuan over the past 20 days, indicating strong investor interest [1][11]. - The ETF covers a wide range of metals, including copper, aluminum, gold, rare earths, and lithium, allowing investors to capture various market cycles [6][16]. - Analysts predict that the demand for basic metals like copper, aluminum, and tin will continue to perform well due to emerging needs in AI, electricity, and new energy sectors [3][13].

Core Viewpoint - The recent performance of the non-ferrous metals ETF (512400) indicates a strong upward trend, driven by significant inflows and a favorable macroeconomic environment for the sector [1][2]. Group 1: ETF Performance - As of January 23, 2026, the non-ferrous metals ETF (512400) rose by 2.33%, with a turnover of 3.44% and a transaction volume of 1.284 billion yuan [1]. - The underlying index, the Zhongzheng Shenwan Non-Ferrous Metals Index, saw notable gains in constituent stocks, including silver up by 9.97% and Tongling Nonferrous Metals up by 9.78% [1]. Group 2: Fund Inflows and Market Trends - The non-ferrous metals ETF (512400) has experienced continuous net inflows over the past 14 days [2]. - According to the public fund quarterly report, there has been a significant increase in the allocation to the non-ferrous metals sector by active equity funds, indicating a positive outlook for this segment [2]. Group 3: Supply and Demand Dynamics - The global resource market is undergoing a "valuation reassessment" due to multiple factors, with expectations for a macroeconomic policy alignment between China and the U.S. in 2026 [2]. - New demand from AI data centers and renewable energy is emerging, while long-term capital expenditure in global mining remains insufficient, creating supply constraints [2]. Group 4: Precious Metals Outlook - Precious metals are experiencing a resurgence, with gold and silver reaching new historical highs, and spot gold surpassing 4,950 USD per ounce [2]. - The current economic data from the U.S. shows stability, and the expectation of continued monetary easing supports the case for precious metals as a favorable investment opportunity [2]. Group 5: Index Composition - The Zhongzheng Shenwan Non-Ferrous Metals Index comprises 50 listed companies selected from the non-ferrous metals and non-metallic materials sectors, reflecting the overall performance of the industry [2]. - The top ten weighted stocks in the index include Zijin Mining, Luoyang Molybdenum, and Northern Rare Earth, among others [2].

有色金属板块持续上扬， 盛达资源午后涨停， 豫光金铅、 白银有色此前封板， 兴业银锡、 驰宏锌 锗、 国城矿业跟涨。 ...

Market Overview - The A-share market showed mixed performance with the Shanghai Composite Index up by 0.27%, the Shenzhen Component Index up by 0.24%, and the ChiNext Index down by 0.17% as of midday trading [1][2] - The North Star 50 Index surged by 3.36%, with total trading volume in the Shanghai, Shenzhen, and Beijing markets reaching 19,136 billion yuan, an increase of 1,239 billion yuan compared to the previous day [1][2] Sector Performance - Key sectors that saw significant gains include photovoltaic equipment, precious metals, commercial aerospace, pharmaceutical retail, AI applications, horse racing, and battery industries [1][2] - Conversely, sectors that experienced declines include insurance, coal mining and processing, semiconductors, banking, and shale gas [1][2] Notable Stocks - Commercial aerospace and space photovoltaic sectors experienced a collective surge, with stocks like Jieli Suojue achieving three consecutive trading limits, while Zhongchao Holdings, Junda Co., and Western Materials recorded two consecutive limits [1][2] - The retail pharmacy sector performed well due to policy support for mergers and acquisitions, with stocks like Renmin Tongtai and Yifeng Pharmacy hitting trading limits [1][2] - International gold prices approached 5,000 USD, leading to a significant rise in gold stocks, with Baiyin Youse recording four consecutive trading limits [1][2] Market Dynamics - AI applications, battery, and chemical sectors showed notable activity during the trading session [1][2] - Some computing hardware stocks experienced a pullback, with Xinyi Sheng dropping over 6%, and stocks like Tianfu Communication, Zhongji Xuchuang, and Industrial Fulian also declining [1][2] - Several broad-based ETFs saw increased trading volumes, putting pressure on the three major indices [1][2]

全球最大黄金ETF--SPDR Gold Trust持仓较上日增加2吨，当前持仓量为1079.66吨。 摘要周五(1月23日)亚市盘中，贵金属金银铂钯齐涨，现货白银突破99美元关口，新年首月涨超38%， 100美元近在咫尺，现货黄金站上4950美元/盎司关口，再创历史新高，距5000美元大关不足50美元。A 股黄金概念持续拉升，中国黄金、豫光金铅涨停，白银有色4连板，湖南白银、盛达资源、晓程科技、 四川黄金跟涨。 周五(1月23日)亚市盘中，贵金属金银铂钯齐涨，现货白银突破99美元关口，新年首月涨超38%，100美 元近在咫尺，现货黄金站上4950美元/盎司关口，再创历史新高，距5000美元大关不足50美元。A股黄金 概念持续拉升，中国黄金、豫光金铅涨停，白银有色4连板，湖南白银、盛达资源、晓程科技、四川黄 金跟涨。 国内品牌金饰克价随之大涨，多家品牌金店金饰价格突破1500元/克，今日老庙黄金足金饰品报价1548 元/克，较昨日大涨52元，相比一月初更是涨幅约150元/克；周生生足金饰品报1545元/克，较昨日大涨 53元；周大福足金饰品报1542元/克，较昨日大涨44元；周六福足金饰品报1533元/克，较 ...