交银国企改革灵活配置混合A（519756）基金经理为沈楠。 截至发稿，沈楠累计任职时间10年301天，现任基金资产总规模33.36亿元，任职期间最佳基金回报 224.96%， 任职期间最差基金回报9.45%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月26日，云路股份涨5.56%，截至发稿，报117.48元/股，成交1.53亿元，换手率1.14%，总市值140.98 亿元。 资料显示，青岛云路先进材料技术股份有限公司位于山东省青岛市即墨市蓝村镇鑫源东路7号，成立日 期2015年12月21日，上市日期2021年11月26日，公司主营业务涉及先进磁性金属材料的设计、研发、生 产和销售。主营业务收入构成为：非晶合金薄带及其制品74.71%，纳米晶产品16.07%，磁性粉末及其 制品7.45%，其他(补充)1.77%。 从基金十大重仓股角度 数据显示，交银施罗德基金旗下1只基金重仓云路股份。交银国企改革灵活配置混合A（519756 ...

Group 1 - The core point of the article is that Yunlu Co., Ltd. announced a share reduction plan by shareholder Guo Keyun, involving a total reduction of 3,599,713 shares, which represents 3.00% of the total share capital [2] - The reduction will occur through centralized bidding and block trading, with a price range of 91.07 to 109.69 yuan per share, resulting in a total reduction amount of approximately 352.25 million yuan [2] - After the completion of the reduction plan, Guo Keyun will hold 17,306,235 shares, accounting for 14.42% of the total share capital [2]

Group 1 - The core point of the article is that Yunlu Co., Ltd. announced the completion of a share reduction plan by shareholder Guo Keyun, who reduced his holdings by a total of approximately 3% of the company's total share capital [1] - Guo Keyun reduced his shares through two methods: approximately 1.2 million shares (1% of total shares) via centralized bidding and approximately 2.4 million shares (2% of total shares) through block trading, totaling around 3.6 million shares [1] - The share reduction plan has reached its deadline and has been fully implemented [1] Group 2 - The article also highlights a significant financial discrepancy for a listed company, where net profit surged ninefold before unexpectedly reporting a loss exceeding 200 million yuan [1] - The chairman of the company reportedly invested 50 million yuan of personal funds to cover the financial shortfall, raising questions about the company's financial management [1] - There is uncertainty regarding the whereabouts of 5 billion yuan in trust investments, leading to confusion among shareholders [1]

重要内容提示： 大股东及董事持有的基本情况 本次减持计划实施前，股东郭克云持有青岛云路先进材料技术股份有限公司 （以下简称"公司"）股份 20,905,948 股，占公司总股本的 17.42%，上述股份 为公司首次公开发行前取得的股份，已于 2022 年 11 月 28 日解除限售并上市流 通。 减持计划的实施结果情况 证券代码：688190 证券简称：云路股份 公告编号：2026-010 青岛云路先进材料技术股份有限公司 股东及董事减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 公司于 2025 年 10 月 24 日披露了《青岛云路先进材料技术股份有限公司股 东及董事减持股份计划公告》（公告编号：2025-048），郭克云先生因自身资金需 求，计划通过集中竞价方式及大宗交易方式减持其所持有的公司股份不超过 3,600,000 股，即不超过公司总股本的 3.00%。该次减持计划自前述公告披露之 日起 15 个交易日后的 3 个月内实施。 公司于近日收到公司股东郭克云先生出具的《关于减持股份结 ...

Group 1: Stock Performance - Yunlu Co., Ltd. (688190) stock price increased by 10.36% on February 12, closing at 116.34 yuan, reaching a new 60-day high. This breakthrough was driven by multiple factors including market focus on technology, active positioning by major funds, strong company fundamentals, and stable institutional holdings [1][2]. Group 2: Market Trends - The A-share market exhibited a structural trend on the same day, with technology sectors such as computing power, liquid cooling servers, and CPO showing strong performance. Yunlu Co., as a supplier of magnetic materials, benefits from applications in high-growth areas like new energy vehicles, wireless charging, and data centers, being categorized as a hot stock in the liquid metal and magnetic levitation concepts [2]. Group 3: Capital Flow - On February 12, the net inflow of major funds was 1.0887 million yuan, which, while not large in absolute terms, indicates continued accumulation by major players in the days leading up to the holiday, with a notable net inflow of 176 million yuan on February 9. The turnover rate reached 3.23%, with a transaction volume of 441 million yuan, reflecting high participation from investors [3]. Group 4: Company Fundamentals - The company's Q3 2025 report indicated a revenue growth of 5.03% year-on-year, although net profit declined by 4.96%. However, the company's technological advantages in high-end magnetic materials such as amorphous materials and nanocrystals, along with expanding downstream demand in new energy vehicles and computing infrastructure, provide a long-term optimistic outlook. Additionally, the recent lifting of the detention of Chairman Li Xiaoyu has alleviated concerns regarding management uncertainties [4]. Group 5: Institutional Insights - Invesco Great Wall New Energy Industry Fund A and other funds have significant holdings in Yunlu Co., with recent institutional ratings indicating a "buy" recommendation. As of September 30, 2025, several funds from the Invesco Great Wall group ranked among the top ten circulating shareholders, enhancing market confidence through stable institutional holdings [5].

Group 1 - The core viewpoint of the article highlights that Yunlu Co., Ltd. emphasizes the close relationship between its amorphous product business and the global distribution transformer industry development [2] - The company reports that its amorphous product capacity utilization rate has remained at a high level in recent years [2]

证券代码：688190 证券简称：云路股份 公告编号：2026-009 青岛云路先进材料技术股份有限公司 2026年第一次临时股东会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （四） 表决方式是否符合《公司法》及公司章程的规定，股东会主持情况等。 1、 公司在任董事14人，列席14人； （一） 股东会召开的时间：2026 年 2 月 9 日 （二） 股东会召开的地点：公司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 75 | | --- | --- | | 普通股股东人数 | 75 | | 2、出席会议的股东所持有的表决权数量 | 89,875,164 | | 普通股股东所持有表决权数量 | 89,875,164 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 74.8959 | | 例（%） | | | 普通股股东所持有 ...

北京德和衡律师事务所 关于青岛云路先进材料技术股份有限公司 2026年第一次临时股东会的 法律意见书 德和衡证见意见（2026）第16号 中国·北京市朝阳区建国门外大街 2 号银泰中心 C 座 11、12 层 电话： (+86 10) 8540 7666 邮编：100022 www.deheheng.com 北京德和衡律师事务所 关于青岛云路先进材料技术股份有限公司 本法律意见书仅就本次股东会的召集和召开程序、会议召集人和出席会议人员的资格、会 议表决程序和表决结果的合法有效性等发表意见，并不对本次股东会所审议的议案内容和该等 议案中所表述的事实或数据的真实性和准确性发表意见。 本所及经办律师依据《律师事务所从事证券法律业务管理办法》等规定及本法律意见书出 具日以前已经发生或存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信用原则，进 行了充分的核查验证，保证本法律意见书所认定的事实真实、准确、完整，所发表的结论性意 见合法、准确，不存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责任。 本法律意见书仅供贵公司为本次股东会之目的而使用，不得用于其他任何目的。本所律师 同意贵公司将本法律意见书随贵公司本 ...

Core Viewpoint - Yunlu Co., Ltd. (688190) has announced the lifting of the detention measures against its Chairman and General Manager, Li Xiaoyu, after eight months, leading to a recovery in the company's governance structure and a subsequent rise in stock price by 8.2% to 108.04 CNY per share, with a total market value of 12.965 billion CNY [1][3]. Group 1: Company Governance and Leadership - The company has confirmed that Li Xiaoyu can now participate in daily operations after the lifting of the detention measures, restoring the original governance structure with the resignation of acting officials [3]. - Li Xiaoyu, born in 1970 and a graduate of Tsinghua University with a PhD, has a notable career history, including roles in various companies related to magnetic materials [3][4]. - During Li's detention, the company experienced capital movements, including a share reduction plan by Vice Chairman Guo Keyun and share increases by other executives [4]. Group 2: Financial Performance - In the first three quarters of 2025, the company reported total revenue of 1.458 billion CNY, a year-on-year increase of 5.03%, while net profit attributable to shareholders decreased by 4.96% to 250 million CNY [5]. - The third quarter alone saw a revenue of 472 million CNY, a decline of 1.17% year-on-year, and a net profit of approximately 80.31 million CNY, down 16.24% [5]. - The stock price experienced volatility, initially dropping after the detention news but later rebounding, reaching a closing price of 131.42 CNY per share by October 15, 2025 [5].

Core Viewpoint - The rare earth industry is experiencing a significant price increase, with expectations for continued growth in 2026, driven by supply-demand dynamics and strategic value reassessment [1] Price Trends - As of February 6, the price of praseodymium-neodymium oxide reached 758,000 yuan/ton, a monthly increase of 24.9% and a year-on-year increase of 79.9% [1] - The price of heavy rare earth terbium oxide rose to 6,155 yuan/ton, with a monthly increase of 2.2% [1] Market Dynamics - There is a notable divergence between rare earth prices and stock prices, suggesting a potential return to fundamental pricing as market liquidity effects are digested [1] - Analysts predict that domestic rare earth prices will continue to rise, with the praseodymium-neodymium oxide price surpassing 700,000 yuan/ton [1] Supply and Demand Factors - The supply side is characterized by a separation of mining and smelting, with total quantity control and a slowdown in domestic production growth, lagging behind demand expansion [1] - Demand is being driven by rapid developments in industries such as robotics, low-altitude economy, and military applications [1] - High overseas smelting costs are also providing support for prices [1] Investment Perspective - The CSI Rare Earth Industry Index focuses on core segments of the rare earth industry chain, covering leading companies from mining and smelting to deep processing and downstream applications [1] - The E Fund Rare Earth ETF (159715) offers a low-cost investment tool with a management fee rate of only 0.15% per year for investors looking to enter the rare earth sector [1]