Core Viewpoint - Short-term copper prices are fluctuating, but the outlook for copper prices is positive for 2026 due to ongoing supply-demand tightness [4]. Group 1: Market Overview - As of February 6, 2026, SHFE copper closed at 100,100 CNY/ton, down 3.45% from January 30, while LME copper closed at 13,060 USD/ton, down 0.08% [4]. - The market perceives a low probability of the Federal Reserve lowering interest rates in March 2026, which supports overall commodity sentiment [4]. Group 2: Inventory - Domestic copper social inventory increased by 4.0%, while LME copper inventory rose by 4.9% [5]. - As of February 6, 2026, domestic mainstream port copper concentrate inventory stood at 638,000 tons, down 5.2% from the previous week [5]. - Global electrolytic copper inventory totaled 1,021,000 tons, up 3.6% from January 30, with LME copper inventory at 183,000 tons, up 4.9% [5]. Group 3: Supply - The price difference between refined copper and scrap copper decreased by 504 CNY/ton this week [6]. - In October 2025, China's copper concentrate production was 137,000 tons, up 12.9% month-on-month but down 9.9% year-on-year [6]. - Global copper concentrate production in November was 1,923,000 tons, down 1.9% year-on-year and 0.6% month-on-month [6]. Group 4: Smelting - The TC spot price reached a new low this week, at -51.23 USD/ton, down 0.9 USD/ton from January 30 [7]. - In January 2026, China's electrolytic copper production was 1,179,300 tons, up 0.1% month-on-month and 16.3% year-on-year [7]. - In December 2025, electrolytic copper imports were 260,000 tons, down 4.0% month-on-month and 29.8% year-on-year [7]. Group 5: Demand - Cable manufacturing, which accounts for 31% of domestic copper demand, saw an increase in operating rate to 60.15%, up 0.69 percentage points from the previous week [8]. - Air conditioning production, which represents 13% of domestic copper demand, is projected to decline by 31.6% in February, 6.5% in March, and increase by 4.0% in April [8]. - Copper rod production, accounting for 4.2% of domestic copper demand, had a January operating rate of 50.86%, down 1.9 percentage points month-on-month but up 9.2 percentage points year-on-year [8]. Group 6: Futures - As of February 6, 2026, SHFE copper active contract positions decreased by 21.4% to 175,000 lots, placing the position at the 47th percentile since 1995 [9]. - COMEX non-commercial net long positions were 48,000 lots, down 1.2% from the previous week, at the 77th percentile since 1990 [9].

证券日报网讯 2月9日，光大证券在互动平台回答投资者提问时表示，合并是重大信息，公司不存在应 披露而未披露的信息。 （文章来源：证券日报） ...

证券日报网讯 2月9日，光大证券（601788）在互动平台回答投资者提问时表示，公司持续贯彻"以投资 者为本"的理念，切实加强投资者保护，制定和披露了《公司市值管理工作办法》，不断建立健全市值 管理运作机制，完善与资本市场的持续沟通交流机制。公司合法合规地开展市值管理，将综合运用经营 提升、现金分红、投资者关系管理、信息披露等方式提升公司投资价值。公司将继续加强与市场分析 师、投资者的密切沟通交流，进一步提升资本市场对公司投资价值的发现和认可，使公司股价更合理地 体现公司价值。公司也将继续加强经营管理，促进公司稳定健康发展，努力提升业绩和股东回报水平。 公司将一如既往地承担央企责任，践行国家战略，助力资本市场建设，持续为客户创造价值。 ...

上证公告（基金）【2026】307号 特此公告。 上海证券交易所 2026年02月09日 为促进华夏中证农业主题交易型开放式指数证券投资基金（以下简称农业，基金代码:516810）的 市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上市基金做市业 务》等相关规定，本所同意光大证券股份有限公司自2026年02月10日起为农业提供主做市服务。 ...

为促进中证800交易型开放式指数证券投资基金（以下简称800ETF，基金代码:515800）的市场流 动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上市基金做市业务》等 相关规定，本所同意光大证券股份有限公司自2026年02月10日起为800ETF提供主做市服务。 上证公告（基金）【2026】304号 2026年02月09日 特此公告。 上海证券交易所 ...

2026年02月09日 上海证券交易所 上证公告（基金）【2026】309号 为促进华夏中证文娱传媒交易型开放式指数证券投资基金（以下简称文娱ETF，基金代 码:516190）的市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上 市基金做市业务》等相关规定，本所同意光大证券股份有限公司自2026年02月10日起为文娱ETF提供主 做市服务。 特此公告。 ...

Core Viewpoint - The A-share market is expected to experience a significant upward trend after the Spring Festival, with a 70% probability of rising in the first five trading days post-holiday, and a projected increase of 4.85% in 2024 [1][2]. Market Trends - Historical data shows that the market typically rebounds in the five trading days leading up to the Spring Festival, with a notable upward trend continuing until around T+6 days post-holiday [2]. - The trading volume is characterized by a "decrease before the holiday and an increase after" [1]. Institutional Recommendations - Major brokerage firms recommend "holding stocks over the holiday," anticipating a resurgence in market activity post-Spring Festival [1][3][4]. - Economic and profit expectations are likely to improve during the holiday, with positive consumer data anticipated [5]. Liquidity and Market Sentiment - Liquidity is expected to remain loose during the Spring Festival, with potential for accelerated capital inflow post-holiday [5]. - Market sentiment is projected to be neutral, with limited external risks impacting domestic markets [5]. Sector Focus - Key sectors to watch include technology growth and cyclical industries, which are expected to outperform due to policy support and ongoing industry trends [5][6]. - Specific attention is recommended for AI computing, chemicals, and power equipment sectors [6]. Style Rotation - There is a notable style rotation expected, with large-cap stocks outperforming small-cap stocks before the holiday, while small-cap stocks are anticipated to lead post-holiday [7]. - The market is expected to shift towards a more defensive strategy, gradually moving towards growth sectors [8].

Primary Market - In the week from February 2 to February 6, 2026, a total of 432 credit bonds were issued, with a total issuance scale of 399.33 billion yuan, a decrease of 15.10% week-on-week [4] - Among the issuances, industrial bonds accounted for 184 bonds with an issuance scale of 166.02 billion yuan, down 30.88%, representing 41.57% of the total issuance [4] - Local government bonds issued 210 bonds with an issuance scale of 141.50 billion yuan, an increase of 19.61%, making up 35.43% of the total [4] - Financial bonds totaled 38 bonds with an issuance scale of 91.82 billion yuan, down 17.94%, accounting for 22.99% of the total [4] - The average issuance term for credit bonds was 2.82 years, with industrial bonds at 2.29 years, local government bonds at 3.49 years, and financial bonds at 2.19 years [4] - The average coupon rate for credit bonds was 2.13%, with industrial bonds at 2.03%, local government bonds at 2.25%, and financial bonds at 1.91% [4] - Four credit bonds were canceled during the week [4] Secondary Market - In terms of credit spreads, the largest increase for AAA-rated industries was in food and beverage, up 2.2 basis points, while the largest decrease was in light industry, down 1.2 basis points [5] - For AA+ rated industries, the largest increase was in non-ferrous metals, up 5.6 basis points, and the largest decrease was in agriculture, down 2.4 basis points [5] - The largest increase for AA-rated industries was in non-bank financials, up 1.8 basis points, while the largest decrease was in computers, down 6.3 basis points [5] - Regionally, the largest increase in AAA-rated local government bonds was in Jilin, up 5.9 basis points, and the largest decrease was in Inner Mongolia, down 2.1 basis points [5] - For AA+ rated local government bonds, the largest increase was in Beijing, up 5.8 basis points, and the largest decrease was in Fujian, down 2.7 basis points [5] - The largest increase for AA-rated local government bonds was in Guangxi, up 1.5 basis points, while the largest decrease was in Yunnan, down 6.7 basis points [5] Trading Volume - The total trading volume of credit bonds was 1,470.41 billion yuan, a decrease of 8.17% week-on-week [6] - The top three categories by trading volume were commercial bank bonds, corporate bonds, and medium-term notes [6] - Commercial bank bonds had a trading volume of 497.06 billion yuan, down 8.95%, accounting for 33.80% of the total trading volume [6] - Corporate bonds had a trading volume of 413.42 billion yuan, down 9.23%, representing 28.12% of the total [6] - Medium-term notes had a trading volume of 312.07 billion yuan, down 7.75%, making up 21.22% of the total [6]

近日，多家券商研究所陆续发布关于春节行情的研判观点。根据记者梳理，"持股过节"是机构的主流建议，其 理由既来自对历史"春节效应"的复盘，也基于对当前经济预期、流动性环境及风险偏好的综合评估。 投资者该如何把握春节前后的市场节奏？对此，多家券商认为，节前要注重均衡与防御，节后聚焦成长与产业 趋势。 解码"春节效应" A股在春节前后往往呈现明显的"日历效应"，无论是量能变化、风格轮动还是行业表现，均有规律可循。记者 注意到，多家券商近期对近20年A股春节前后的市场表现进行复盘。 "节前缩量、节后放量"是券商眼中春节行情的典型特征。 据东吴证券策略团队分析历史数据，节前市场量能 通常自T-8日（T为春节）起开始回落。该团队认为，本轮行情亦贴合上述规律，2026年2月4日成为量能分水 岭，5日、6日成交金额跌破2.5万亿元，向2万亿元水平靠拢。"根据历年经验，缩量的趋势一般会持续到节后 首个交易日，T+2日起市场量能中枢显著抬升，交投热情回暖，市场流动性逐步修复。" 如何应对春节前的最后一个交易周？ 春节长假将至，近期A股成交量下滑，杠杆资金持续流出。投资者再次面临选择：是持币观望规避不确定性， 还是持股博弈"红包行 ...

中国经济网北京2月8日讯 纳芯微(688052.SH)近日发布2025年年度业绩预告。 经财务部门初步测算，纳芯微预计2025年度实现营业收入330,000.00万元至340,000.00万元，较上年同期 相比，将增加133,972.58万元至143,972.58万元，同比增长68.34%至73.45%；预计2025年度实现归属于 母公司所有者的净利润-25,000.00万元至-20,000.00万元，较上年同期相比，亏损将收窄15,287.82万元至 20,287.82万元；预计2025年度实现扣除非经常性损益后归属于母公司所有者的净利润-29,000.00万元 至-24,000.00万元，较上年同期相比，亏损将收窄16,677.81万元至21,677.81万元。 纳芯微2024年实现营业收入19.60亿元，同比增长49.53%；归属于上市公司股东的净利润-4.03亿元，上 年同期为-3.05亿元；归属于上市公司股东的扣非净利润-4.57亿元，上年同期为-3.93亿元；经营活动产 生的现金流量净额为9505.33万元，上年同期为-1.39亿元。 纳芯微于2022年4月22日在上交所科创板上市，公开发行股票2 ...