本文源自：金融界AI电报 中国平安A股涨2.6%，最高触及65.58元；H股涨超2%，最高触及68.4港元。 ...

（文章来源：每日经济新闻） 每经AI快讯，1月26日，A股保险板块上扬，新华保险涨超5%，中国人寿、中国太保涨超3%，中国人 保、中国平安跟涨。 ...

中国平安A股涨2.6%，最高触及65.58元；H股涨超2%，最高触及68.4港元。 消息面上，根据公募基金披露的2025年四季报，中国平安获主动偏股公募基金增持68亿元，为获增持金 额最大的个股，Q4持股市值达168亿元。 国际权威品牌评估机构Brand Finance近日发布《2026年全球品牌价值500强榜单》。中国平安以488.39 亿美元的品牌价值十度蝉联中国最具价值保险品牌，位列全球第32位，较2025年提升3位，排名中国第 10位，品牌价值同比增长13%。榜单方认为，中国平安在复杂多变的外部环境中，依然保持稳健经营与 持续增长，展现出突出的品牌韧性和长期价值。 此外，中金最新研报指，中国平安将于今年3月下旬发布2025年全年业绩，预计公司归母净利润同比增 长5.2%至1332.5亿元，归母营运利润(OPAT)增长8.8%至1325.4亿元，全年每股分红年增6.2%至2.71元。 中金重申此前判断，在"存款搬家"浪潮与客群升级机遇下，公司或有望再迎黄金发展期，依托其优秀核 心经营能力，实现好于行业整体的份额增长。中金维持公司"跑赢行业"评级，维持平安A股目标价89.8 元、H股目标价99.4港元不变 ...

A股1月23日共有3767只个股获融资资金买入，有676股买入金额超亿元。其中，中际旭创、新易盛、信 维通信融资买入金额排名前三，分别获买入36.03亿元、27.11亿元、26.4亿元。 从融资买入额占当日总成交金额比重来看，有3只个股融资买入额占比超30%。其中顺发恒能、赛微微 电、劲嘉股份（维权）融资买入额占成交额比重排名前三，分别为32.58%、30.44%、30.14%。 从融资净买入金额来看，有49只个股获融资净买入超亿元。其中，新易盛、中国平安、信维通信融资净 买入金额排名前三，分别获净买入5.7亿元、5.57亿元、5.49亿元。 MACD金叉信号形成，这些股涨势不错！ (本文来自第一财经) ...

点击按钮▲立即收听 " 每三张港险保单中，就有一张来自内地客户。 " 文 /巴九灵（微信公众号：吴晓波频道） "在利率下行的时代，保险 不仅是资本市场的新宠 ， 也 是财富的压舱石。 " 随着 A股站稳4100点大关，投资风向标并没有偏爱理应水涨船高的券商板块，而是涌入了保险板块。 截至 2026年1月25日，A股市场证券指数3年收益率为31.01%，相应的保险行业指数3年收益率已高达51.75%。 2025年前三季度，A股市场五大上市保险公司合计归母净利润高达4260亿元，同比增长33.5%。 | | 营业收入 (亿元) | 同比增长 | 归母净利润 (1470) | 同比增长 | | --- | --- | --- | --- | --- | | 中国平安 | 8329.40 | 7.4% | 1328.56 | 11.5% | | 中国人寿 | - 5378.95 | 25.9% | 1678.04 | 60.5% | | 中国人保 | 5209.90 | 10.9% | 468.22 | 28.9% | | 中国太保 | 3449.04 | 11.1% | 457.00 | 19.3% | | 新华保 ...

本报记者 方凌晨 作为以追求超额收益为主要目标的基金品类，主动权益基金的相关动向备受市场关注。随着公募基金 2025年四季报披露完毕，主动权益基金的规模、收益、重仓行业等最新情况一一揭晓。 整体来看，2025年第四季度，主动权益基金维持较高的股票仓位运作，价值风格的主动权益基金表现更 优。持仓A股方面，电子、医药生物和电力设备为主动权益基金前三大重仓行业，中际旭创、新易盛、 宁德时代为其前三大重仓个股。 具体到重仓个股，截至2025年末，主动权益基金在A股市场的前十大重仓股依次为中际旭创、新易盛、 宁德时代、紫金矿业、寒武纪、立讯精密、贵州茅台、东山精密、美的集团和阳光电源。 调仓动作方面，2025年第四季度，主动权益基金增持前三名个股分别是中际旭创、中国平安和东山精 密。 从管理人维度来看，截至2025年末，仅有易方达基金、中欧基金两家管理人的主动权益基金规模突破 2000亿元，分别达2660.46亿元、2316.10亿元；广发基金、富国基金、汇添富基金、华夏基金等管理规 模则均在1000亿元以上。在这些主动权益基金规模靠前的公募基金管理人中，中欧基金的主动权益基金 规模占其在管产品总规模的比例最高，为33 ...

Investment Rating - The industry investment rating is "Overweight" (maintained) [1] Core Insights - The report indicates a significant improvement in market trading volume and new fund issuance at the beginning of 2026, which is favorable for the fundamentals of financial IT and brokerage sectors. Brokerage firms are expected to continue rapid growth in their brokerage business, while investment banking, asset management, and overseas expansion are likely to enhance the return on equity (ROE) of leading brokerage firms. The insurance sector has also seen a strong start in both individual and bank-insurance channels, with a continued trend of deposit migration, suggesting a positive outlook for the insurance sector in the spring market [4][6]. Summary by Sections Brokerage Sector - Daily average trading volume for stock funds reached 3.44 trillion, down 16% week-on-week; however, the average trading volume since the beginning of 2026 is 3.64 trillion, a 105% increase compared to Q1 2025 [4] - New stock and mixed fund issuance in January 2026 totaled 44.3 billion, a 56% year-on-year increase [4] - The "Public Fund Performance Benchmark Guidelines" was officially released on January 23, 2026, establishing stricter standards for benchmark selection and changes, enhancing performance evaluation and compensation management systems [4] Insurance Sector - The fourth quarter of 2025 saw a stable research value for ordinary life insurance products at 1.89%, slightly down from 1.90% in the previous quarter, indicating a trend towards stability [6] - The individual insurance channel is under pressure due to various factors, but the strong start in 2026 is expected to improve new policy growth, aided by favorable market conditions [6] - The stabilization of long-term interest rates and a favorable equity market are expected to enhance net assets and profitability for insurance companies, with a potential valuation recovery towards 1x PEV for leading firms [6] Recommended Stocks - Recommended stocks include Guangfa Securities, Guotai Junan, Huatai Securities, and China International Capital Corporation H, as well as China Life, China Pacific Insurance, and Ping An Insurance [7]

Investment Rating - The report maintains a positive long-term outlook for the insurance sector, indicating a strong continuity in market performance despite recent fluctuations [2][12][16]. Core Insights - The financial sector experienced a mixed performance this week, with the non-bank financial index down by 1.45%, underperforming the CSI 300 index by 0.83 percentage points. The insurance sector saw a decline of 4.02%, while the brokerage sector decreased by 0.61% [1][10]. - The insurance sector's performance is driven by two main factors: policy support leading to economic recovery and liquidity easing combined with a strong stock market. The report suggests a shift from liquidity-driven growth to a focus on macro policy support and economic recovery expectations [2][13][16]. - The brokerage sector is expected to benefit from new regulations that enhance investment management quality, with a recommendation to focus on larger, undervalued firms and those involved in mergers and acquisitions [3][18]. - The banking sector is facing a slight decline, but there are signs of recovery in profitability for leading banks, with recommendations to focus on banks with high dividend yields and those expected to benefit from market conditions [19][21]. Summary by Sections Insurance Sector - The insurance sector's recent decline is attributed to short-term market sentiment and liquidity changes, but the long-term outlook remains positive due to strong support from both the liability and asset sides [2][12][16]. - Key recommendations include focusing on companies like China Pacific Insurance, China Ping An, China Life (H), and China Taiping, with a specific recommendation for New China Life [4][16]. Brokerage Sector - The brokerage sector's performance is slightly better than the overall market, with a focus on the new guidelines from the regulatory body that aim to improve fund management quality [3][17]. - Recommended firms include Guotai Junan, Huatai Securities, and others, particularly those with strong merger and acquisition prospects [4][18]. Banking Sector - The banking sector has shown a decline but is expected to stabilize, with recommendations to focus on banks with high earnings elasticity and strong dividend yields [19][21]. - Specific banks to watch include Hangzhou Bank, Ningbo Bank, and others, with a focus on those that have previously been undervalued [4][21].

Investment Rating - The industry investment rating is "Buy" [3] Core Insights - The report highlights a significant increase in insurance holdings, with public fund holdings in the non-bank financial sector rising from 1.49% in Q3 2025 to 2.48% in Q4 2025, driven by market style rebalancing and marginal support from the sector's fundamentals [24][34] - The report notes that despite the ongoing pursuit of high-elasticity technology sectors, the non-bank financial sector is at a historical low valuation, with strong performance in the insurance sector and increased trading volumes in brokerage firms, indicating fundamental resilience [24][34] - The report suggests that the public fund holdings in the securities sector increased slightly from 0.63% in Q3 2025 to 0.71% in Q4 2025, reflecting improved performance trends and the appeal of low valuations [33] Summary by Sections New Public Fund Issuance - In Q4 2025, the number of newly issued funds remained stable at approximately 477, with a year-on-year increase of 81% compared to 264 in Q4 2024, while the issuance volume decreased by 15.19% year-on-year [12][19] - The share of newly issued equity funds decreased from 41% in the previous quarter to 32%, while mixed fund shares increased from 15% to 19% [12] Non-Bank Financial Fund Holdings - Public fund holdings in the non-bank financial sector increased, with the total market capitalization share rising to 2.48% in Q4 2025 [24] - The report attributes this increase to a shift in funds from crowded technology sectors to undervalued defensive sectors, alongside a recovery in northbound capital allocations [24] Major Non-Bank Companies' Holdings - The report indicates that major non-bank companies saw slight increases in public fund holdings, with China Ping An leading at 1.11% and China Pacific Insurance at 0.35% [41] - The report recommends focusing on key companies such as CITIC Securities, Huatai Securities, and China Ping An for potential investment opportunities [24][41]

本周（1月19日至23日）三大指数涨跌不 一，沪指累计上涨0.83%，深成指涨1.11%，创业板指周跌 0.34%。板块方面，商业航天股爆发，贵金属、光伏设备板块走势活跃。 多图速览>> | | | 哥指数表现 1.19-1.23 | | | | | --- | --- | --- | --- | --- | --- | | 指数 | 周五涨跌幅 | | 周五收盘点数 周五成交额（亿元） 近一周涨跌幅 | | 年初至今 | | 上证指数 | 0.33% | 4136 | 13369 | 0.83% | 4.22% | | 深证成指 | 0.79% | 14440 | 17484 | 1.11% | 6.76% | | 北证50 | 3.82% | 1589 | 331 | 2.60% | 10.29% | | 科创50 | 0.78% | 1554 | 1108 | 2.62% | 15.59% | | 创业板指 | 0.63% | 3350 | 8169 | -0.34% | 4.57% | | FJESO | -0.69% | 3032 | 2005 | -1.54% | 0.04% | | 沪深300 ...