Quantitative Factors and Construction Methods - **Factor Name**: Large Order Transaction Amount Ratio **Factor Construction Idea**: This factor captures the buying behavior of large capital by analyzing the proportion of large order transaction amounts in the total daily transaction amount[8] **Factor Construction Process**: 1. Use tick-by-tick transaction data to identify buy and sell orders based on the sequence numbers of bids and asks 2. Filter transactions by order size to identify large orders 3. Calculate the proportion of large buy order transaction amounts in the total daily transaction amount **Formula**: $ \text{Large Order Transaction Amount Ratio} = \frac{\text{Large Buy Order Transaction Amount}}{\text{Total Daily Transaction Amount}} $ **Evaluation**: This factor effectively reflects the buying behavior of large capital[8] - **Factor Name**: Net Active Buy Transaction Amount Ratio **Factor Construction Idea**: This factor measures the active buying behavior of investors by calculating the net active buy transaction amount as a proportion of the total daily transaction amount[8] **Factor Construction Process**: 1. Use tick-by-tick transaction data to classify each transaction as either active buy or active sell based on the buy/sell indicator 2. Subtract the active sell transaction amount from the active buy transaction amount to obtain the net active buy transaction amount 3. Calculate the proportion of the net active buy transaction amount in the total daily transaction amount **Formula**: $ \text{Net Active Buy Transaction Amount Ratio} = \frac{\text{Active Buy Transaction Amount} - \text{Active Sell Transaction Amount}}{\text{Total Daily Transaction Amount}} $ **Evaluation**: This factor provides insights into the active buying tendencies of investors[8] --- Factor Backtesting Results - **Large Order Transaction Amount Ratio**: - Top 10 stocks with the highest 5-day average values: 1. Hanjiang Heshan (603616.SH): 93.5%, 99.2% time-series percentile[10] 2. Minbao Optoelectronics (301362.SZ): 89.7%, 98.4% time-series percentile[10] 3. Hangdian Co., Ltd. (603618.SH): 86.1%, 99.6% time-series percentile[10] 4. Jinzhengda (002470.SZ): 85.2%, 83.9% time-series percentile[10] 5. Guofa Co., Ltd. (600538.SH): 84.9%, 92.4% time-series percentile[10] 6. Shunna Co., Ltd. (000533.SZ): 84.7%, 100.0% time-series percentile[10] 7. Quanzhu Co., Ltd. (603030.SH): 84.6%, 94.4% time-series percentile[10] 8. Beijing Investment Development (600683.SH): 84.5%, 96.0% time-series percentile[10] 9. Chongqing Steel (601005.SH): 84.3%, 52.2% time-series percentile[10] 10. Huadian International (600027.SH): 83.6%, 95.2% time-series percentile[10] - **Net Active Buy Transaction Amount Ratio**: - Top 10 stocks with the highest 5-day average values: 1. Minsheng Bank (600016.SH): 21.1%, 100.0% time-series percentile[11] 2. Kairuide (002072.SZ): 20.3%, 99.6% time-series percentile[11] 3. Intercontinental Oil & Gas (600759.SH): 19.5%, 100.0% time-series percentile[11] 4. Boen Group (001366.SZ): 17.8%, 100.0% time-series percentile[11] 5. Bowan Technology (600883.SH): 17.5%, 99.6% time-series percentile[11] 6. Xiangyou Technology (600476.SH): 16.8%, 99.2% time-series percentile[11] 7. Zhejiang Commercial Bank (601916.SH): 16.8%, 94.4% time-series percentile[11] 8. General Elevator (300931.SZ): 15.9%, 100.0% time-series percentile[11] 9. Weier Pharmaceutical (603351.SH): 15.3%, 94.0% time-series percentile[11] 10. Ruierte (002790.SZ): 15.2%, 98.4% time-series percentile[11]

Group 1 - The company, Hangzhou Dianzi (603618.SH), stated on the investor interaction platform that it has not engaged in any integrated cooperation with SpaceX regarding hollow core fiber optics [1]

Group 1 - The electric grid equipment sector opened lower, with Hangzhou Electric Co. hitting the daily limit down [1] - Shun Sodium Co., Tongguang Cable, Shuangjie Electric, and Senyuan Electric also opened lower [1]

Group 1 - GCL-Poly Energy has achieved a four-day consecutive limit-up in stock price [1] - Hangzhou Electric and Shanshan Co. have experienced a two-day consecutive limit-up in stock price [1] - Nearly 20 stocks, including Yamaton, Saiwu Technology, TCL Zhonghuan, Tuori New Energy, Aiko Solar, and Shuangliang Energy Conservation, have reached the daily limit [1]

Core Viewpoint - The optical fiber and cable sector is experiencing significant activity, with notable stock price increases among key companies [1] Group 1: Market Activity - The optical fiber and cable sector is active as of February 9, with stocks such as Changfei Optical Fiber reaching the daily limit increase [1] - Other companies showing strong performance include Guangku Technology, Hangdian Co., Zhishang Technology, Zhongtian Technology, and Hengtong Optic-Electric, all of which have notable price increases [1]

Group 1 - The top trending stocks in A-shares include Xiexin Integrated, Sanyan Co., Shenjian Co., Data Port, Juliy Suoj, Hangdian Co., Galaxy Electronics, Yongtai Technology, Intercontinental Oil and Gas, and Wuzhou New Spring [1][2] - Xiexin Integrated's rise is attributed to significant breakthroughs in perovskite tandem battery technology, achieving a certification efficiency of 33.31%, and its strategic focus on space photovoltaic equipment development [3] - Sanyan Co. is gaining attention due to a proposed investment of approximately 7.2 billion yuan from Anhui State-owned Wanhui Group, which alleviates uncertainties from its restructuring process [3] Group 2 - Shenjian Co. benefits from the growing commercial aerospace sector, with its subsidiary being a key supplier for major rocket components, enhancing investor interest [4] - Data Port's focus is driven by the "East Data West Calculation" strategy, which supports the data center industry, alongside increasing demand for AI and computing power [4] - Juliy Suoj is recognized as a core supplier in the commercial aerospace and deep-sea equipment sectors, with significant orders extending to 2026 [5] Group 3 - Hangdian Co. is experiencing growth due to multiple favorable themes and national investment plans in the power grid sector, with its business covering ultra-high voltage and optical communication [5] - Galaxy Electronics is gaining traction due to its involvement in military information technology and commercial aerospace, with a significant reduction in losses reported [6] - Yongtai Technology's partnership with CATL is a key catalyst for its market interest, as it aims to deepen integration within the new energy supply chain [6]

Group 1 - The core viewpoint of the article highlights that Hangdian Co., Ltd. has experienced a significant stock performance, achieving a seven-day consecutive rise with a trading halt at the upper limit today at 9:32 AM, with a transaction volume of 816 million yuan and a turnover rate of 7.90% [1] - The recent performance of Hangdian Co., Ltd. is attributed to market speculation and increased attention towards its industry sector, leading to a phase of heightened stock activity [1]

Core Viewpoint - Hangzhou Cable Co., Ltd. (杭电股份) has clarified that its main business remains unchanged despite being categorized as a "fiber optic" concept stock by some media outlets. The company has experienced significant stock price fluctuations, raising concerns about potential speculative trading risks [1][3]. Group 1: Stock Performance - From January 30 to February 6, 2026, Hangzhou Cable's stock price hit the daily limit up on five out of six trading days, with a cumulative increase of 66.79%, significantly outperforming peers in the industry [1]. - The trading volume surged on February 5 and 6, with turnover rates of 29.43% and 18.02%, indicating heightened trading activity and associated risks [1]. Group 2: Business Operations - The company reported that its daily production and operational conditions are normal, with no significant changes in the internal or external business environment [3]. - Hangzhou Cable's main business includes power distribution, optical communication, and electronic information materials, with optical communication expected to generate approximately 330 million yuan in revenue for 2024, accounting for only 3.73% of total audited revenue [3]. Group 3: Financial Performance - The company disclosed an anticipated net loss of around 300 million yuan for the fiscal year 2025, primarily due to impairment provisions for fixed assets at its wholly-owned subsidiary, Hangzhou Yongte Information Technology Co., Ltd., amounting to 264.486 million yuan [4]. - The decline in net profit is also attributed to rising raw material costs, which have negatively impacted the gross profit margin [4]. Group 4: Market Capitalization - As of February 6, the stock closed at 13.71 yuan, with a total market capitalization of 9.5 billion yuan [5].

Core Viewpoint - The stock price of Hangdian Co., Ltd. (603618.SH) has experienced a significant short-term increase, with a cumulative rise of 66.79% over six trading days from January 30 to February 6, 2026, with five of those days closing at the daily limit price [1] Group 1: Stock Performance - The stock price has surged significantly, outperforming peers in the same industry [1] - The company has noted that its stock price increase is being attributed to media classification as a "fiber optic" concept stock [1] Group 2: Business Overview - Hangdian's main business includes power distribution and transmission, optical communication, and electronic information materials [1] - The revenue from optical communication is projected to be 329.93 million yuan in 2024, accounting for only 3.73% of the total audited revenue for that year [1] - The company confirms that there have been no changes to its main business operations [1]

Core Viewpoint - The company, Hangdian Co., Ltd. (603618.SH), has issued a stock trading risk warning due to a significant short-term price increase, with a cumulative rise of 66.79% over six trading days from January 30 to February 6, 2026, with five of those days closing at the daily limit price [1] Group 1: Stock Performance - The stock price has experienced a substantial increase, with a cumulative rise of 66.79% over six trading days [1] - Out of the six trading days, five days closed at the daily limit price [1] Group 2: Business Operations - The company has noted that some media outlets have categorized it as a "fiber optic" concept stock [1] - The company's main business includes power distribution and transmission, optical communication, and electronic information materials [1] - For the fiscal year 2024, the revenue from optical communication is projected to be 329.93 million yuan, accounting for only 3.73% of the total audited revenue for that year [1] - The company confirms that its main business operations have not changed [1]