浙商证券研报指出，中国太保是上海国资委背景的唯一上市险企，长航转型纵深推进与Web3领域的前 瞻布局有望带来业绩与估值的戴维斯双击。超预期点，保险行业战略重要性提升，行业β凸显，太保在 寿险方面的长航转型、上海国资委的战略支持及Web3 领域布局有较大预期差。2026年人民币资产有望 进一步迎来系统性重估，资本市场改革政策持续发力，中国权益市场有望维持慢牛行情，险企资产端的 投资收益或持续受益增厚。随着内外部转型的纵深推进，太保寿险新业务价值（NBV）将实现强劲增 长。当前太保股价对应2025年PEV为0.67x，位置仍处于历史较低区间；太保估值相比同业处于低位。 按2026年0.9x PEV进行估值，对应目标价60.85元，空间27％，予以"买入"评级。 ...

Investment Ratings - Banking: Overweight (Maintain) [1] - Securities: Market Weight (Maintain) [1] - Insurance: Overweight (Maintain) [1] Core Insights - The banking sector shows a continued growth trend in social financing, with a marginal decrease in the contribution of government bonds. Corporate bonds increased by 178.8 billion yuan year-on-year, becoming the main increment in social financing. However, the demand for loans remains weak, with a year-on-year decrease of 190 billion yuan in new RMB loans in November [5][44]. - The securities industry has seen multiple core indicators reach historical highs in 2025, with total stock fund transaction volume exceeding 500 trillion yuan, a year-on-year increase of over 70%. The primary market has rebounded, with IPO and refinancing scales increasing by 95.64% and 326.17% respectively, indicating improved market liquidity and financing conditions [3][46]. - The insurance sector reported a total original premium income of 57,629 billion yuan in the first 11 months of 2025, a year-on-year growth of 7.6%. Life insurance companies saw a 9.1% increase in premium income, while property insurance companies grew by 3.9% [4][47]. Summary by Sections Market Review - As of January 8, 2026, the banking, securities, and insurance indices changed by -0.87%, +0.91%, and +1.95% respectively, while the CSI 300 index increased by +2.05%. Among 31 industries, the banking and non-banking sectors ranked 29th and 21st in performance [5][13]. Valuation Situation - As of January 8, 2026, the PB ratio for the banking sector is 0.74, with state-owned banks, joint-stock banks, city commercial banks, and rural commercial banks having PB ratios of 0.79, 0.61, 0.71, and 0.63 respectively. Notably, China Merchants Bank, Agricultural Bank of China, and Ningbo Bank have the highest valuations at 0.96, 0.95, and 0.87 [22][24]. Recent Market Indicators - The one-year MLF operation rate is 2.0%, with LPR rates at 3.0% for one year and 3.50% for five years. The average interbank borrowing rates for one day, seven days, and fourteen days are 1.33%, 1.50%, and 1.60% respectively [29][30]. Industry News - The China Banking and Insurance Regulatory Commission has released guidelines for data classification and grading in the insurance asset management industry, effective January 1, 2026, aimed at enhancing data security management standards [39][40].

半导体设备ETF 广发（560780.SH），场外联接(A类：020639；C类：020640）。 2026年1月8日，半导体设备ETF 广发（560780.SH）收跌1.09%，成交2.23亿元。获融资买入2226.22万 元，融资偿还1565.95万元，融资净买入660.27万元，居可比基金首位。（数据来源：Wind） 拉长时间看，该基金近2天杠杆资金连续流入，合计流入1424.29万元，居可比基金前2。（数据来源： Wind） ...

资金流向方面，申万31个一级行业中有21个行业获融资净买入，其中，非银金融行业获融资净买入额居首，当日净买入37.89亿元；获融资净买入居前的行 业还有电子、国防军工、计算机、电力设备、机械设备等。 个股方面，74只个股获融资净买入额超1亿元。寒武纪获融资净买入额居首，净买入10.44亿元；融资净买入金额居前的还有中国平安、岩山科技、中信证 券、蓝色光标、立讯精密、航天动力、东方明珠、华泰证券、中国太保等。 | 序号 | | | | | | --- | --- | --- | --- | --- | | | 证券代码 = | 证券简称 = | 交易日期 = | 融资净买入额(万元) ◆ | | 1 | 688256.SH | 寒武纪 | 2026-01-08 | 104,435. | | 2 | 601318.SH | 中国平安 | 2026-01-08 | 103,830. | | 3 | 002195.SZ | 岩山科技 | 2026-01-08 | 75,449 | | ব | 600030.SH | 中信证券 | 2026-01-08 | 65,988. | | 5 | 300058.SZ | 蓝色光 ...

南财投研通数据显示，1月8日，券商给予上市公司目标价共7次，按最新收盘价计算，目标价涨幅排名居前的公司有固德威、海光信 息、中国太保，目标价涨幅分别为49.60%、40.27%、29.61%，分别属于光伏设备、半导体、保险行业。 首次覆盖方面，1月8日券商共给出了7次首次覆盖，其中巨力索具获得东北证券给予"增持"评级，神驰机电获得中信证券给予"买入"评 级，晨光股份获得平安证券给予"推荐"评级，锦华新材获得华源证券给予"增持"评级，海安集团获得山西证券给予"买入"评级。 | | | 7家最新被首次覆盖的公司 | | | | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 机构 | 最新评级 | 行业 | | 002342 | 巨力索具 | 东北证券 | 増持 | 通用设备 | | 603109 | 神驰机电 | 中信证券 | 买人 | 汽车零部件 | | 603899 | 晨光股份 | 平安证券 | 推荐 | 文娱用品 | | 920015 | 锦华新材 | 华源证券 | 增持 | 化学制品 | | 001233 | 海安集团 | 山西证券 | 买人 | 汽车零部件 ...

单品种看，昨日资金主要流入的商品期货（主连合约）品种有焦煤、镍、纯碱、氧化铝和不锈钢，分别流入5.46 亿元、4.46 亿元、3.15 亿元、2.95 亿元和 2.01 亿元；主要流出的品种有碳酸锂、黄金、铜、铝和棉花，分别流出19.20 亿元、11.65 亿元、8.39 亿元、4.19 亿元和3.58 亿元。从主力合约看，黑色、化 工和农产品板块呈流入状态，金融和有色金属板块呈流出状态。 整体看，昨日商品期货（主连合约）资金呈大幅流出状态。有色金属板块流出较多，重点关注流出较多的碳酸锂、黄金、铜、铝、多晶硅和白银，同时关注 逆势流入的镍和氧化铝。黑色、化工和农产品板块小幅流入，重点关注流入较多的焦煤、纯碱、不锈钢、玻璃和豆油，同时关注逆势流出的棉花、苹果和 LPG。金融板块重点关注中证1000股指期货和30年期国债期货。（徽商期货 方正） 图为商品期货资金流出前十名（亿元） 图为板块资金流入额（亿元） 图为商品期货资金流入前十名（亿元） 图为金融期货主连合约资金流向（亿元） 图为商品期货主连合约资金流向（亿元） ...

从券商推荐家数来看，1月8日有30家上市公司得到券商推荐，其中精工钢构、海伦哲、中国化学各获得1家推荐。 评级调高方面，1月8日，券商调高上市公司评级达到1家次，中邮证券对全志科技的评级从"增持"调高至"买入"。 | | | 7家最新被首次覆盖的公司 | | | | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 机构 | 最新评级 | 行业 | | 002342 | 巨力索具 | 东北证券 | 増持 | 通用设备 | | 603109 | 神驰机电 | 中信证券 | 买人 | 汽车零部件 | | 603899 | 晨光股份 | 平安证券 | 推荐 | 文娱用品 | | 920015 | 锦华新材 | 华源证券 | 增持 | 化学制品 | | 001233 | 海安集团 | 山西证券 | 买人 | 汽车零部件 | | 688147 | 微导纳米 | 中泰证券 | 増持 | 光伏设备 | | 920106 | 林泰新材 | 中邮证券 | 増持 | 汽车零部件 | | | | 日期:01月08日,南财投研通×南财快讯制图 | | | | | | | 1家最新被调高评级的 ...

Market Overview - On January 8, the Shanghai Composite Index decreased by 0.07%, while the CSI 300 fell by 0.82%. The STAR Market 50 and CSI 1000 both increased by 0.82%, and the ChiNext Index dropped by 0.82%. The Hang Seng Index declined by 1.17% [3][4] - The best-performing sectors on January 8 were defense and military (+4.18%), media (+2%), construction and decoration (+1.76%), real estate (+1.6%), and building materials (+1.33%). The worst-performing sectors included non-bank financials (-2.81%), non-ferrous metals (-1.56%), telecommunications (-0.95%), banking (-0.89%), and food and beverage (-0.58%) [3][4] - The total trading volume for the A-share market on January 8 was 28,263 billion yuan, with net outflow of southbound funds amounting to 4.901 billion HKD [3][4] Key Recommendations - The report highlights China Pacific Insurance (601601) as a core financial asset with both offensive and defensive capabilities. The recommendation is based on the company's unique position as the only publicly listed insurance company backed by the Shanghai State-owned Assets Supervision and Administration Commission [5] - The rationale for recommending China Pacific Insurance includes the increasing strategic importance of the insurance industry, the alleviation of industry interest margin risks, and the company's transformation efforts that are expected to drive significant growth in new business value (NBV) [5] - The target price for China Pacific Insurance is set at 60.85 yuan, representing a potential upside of 27% based on a valuation of 0.9x PEV for 2026 [5] - Revenue projections for China Pacific Insurance from 2025 to 2027 are estimated at 419,626 million yuan, 462,993 million yuan, and 512,426 million yuan, with growth rates of 4%, 10%, and 11% respectively. Net profit attributable to shareholders is forecasted to be 47,769 million yuan, 57,881 million yuan, and 74,911 million yuan, with growth rates of 6%, 21%, and 29% respectively [5]

两连涨后两连跌，新年开门走了个寂寞。今天三大指数全天维持在中轴下方弱势盘整。截至收盘，沪指 跌0.07%，深成指跌0.51%，创业板指跌0.82%。两市合计超3700只个股下跌，合计成交额2.8万亿。 商业航天概念集体爆发，其中鲁信创投10天8板，金风科技3连板。脑机接口概念延续强势，其中创新医 疗、普利特、南京熊猫4连板。可控核聚变概念表现活跃，其中中国一重、国机重装、中国核建2连板。 AI应用概念走高，其中久其软件、宝信软件涨停。 保险板块低开低走陷入调整，截至收盘下跌2.17%，其中中国平安下跌4.18%，中国人寿下跌2.33%，中 国人保、中国太保等股跌幅均在1%上方。涨停强势的强势大回调，其中华林证券跌停。 大盘两连跌，一方面是受到宏观因素的影响，最为主要的还是对开门红的谨慎。 ...

①31张"百万"罚单 1家被罚超千万，5家超500万 ②问责到人力度大 115人被禁业， 47人终身禁业 ③Tomor row系结局 华夏人寿等3家，被吊销许可证 | 序 | Company of the Children Comments of the controlled on the controlled in the contribution of the contribution of the many of the many of the may be and the many of the many of | | 分支数 詞款总额 | ਲ | 寿险公司 | 分支数 | 罚款息额 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | a 2 | | 号 | 2 | | | | 1 | 人保财险 | 97 | 4,232.83 | 1 | 太保寿险 | 34 | 1,301.40 | | 2 | △ 太保财险 | | 69 2,879.50 | 2 | 中国人寿 | 82 | 1,255.50 | | 3 | 平安产险 | ୧୧ | 2, ...