Core Insights - Insurance capital management is increasingly focused on deep research of individual stocks and industries, with significant interest in A-share listed companies as indicated by over 300 companies being researched since the beginning of 2026 [1][2] Group 1: Research Trends - A total of 96 insurance companies and 32 insurance asset management companies have participated in the research of A-share listed companies since the beginning of 2026 [2] - Key players such as Taiping Pension, Changjiang Pension, and China Life Pension have conducted over 30 research sessions each within a month [2] - Regional banks and sectors like electronic components, semiconductor materials, and devices are receiving heightened attention from insurance capital [2] Group 2: Investment Strategies - Insurance capital views company research as a crucial part of investment strategy, often focusing on high-quality stocks with long-term growth potential [3] - The demand for high dividend stocks is driven by the need for stable cash flow in a low-interest-rate environment, with banks being a primary focus for insurance capital [4] - Insurance capital is increasingly adopting a dividend strategy, favoring high dividend stocks to stabilize returns amid pressure on fixed-income yields [4] Group 3: Focus on New Productive Forces - Insurance capital is aligning with long-term investments in new productive forces, particularly in technology innovation and emerging strategic industries [5] - There is a focus on investing in sectors with real technological barriers and clear business models that can deliver performance [5] Group 4: Investment Paths - For mature technology leaders, insurance capital is likely to invest directly for excess returns, while for emerging tech sectors, indirect investments through ETFs or industry funds are preferred to manage risks [6] - The insurance capital sector is particularly interested in AI-driven technology and high-end manufacturing, with a strategy to invest in companies with clear business models and strong competitive advantages [6]

"无论是配置盘还是交易盘，险资投资框架都是基于对个股和行业的深度研判。"一位保险资管人士日前 在接受中国证券报记者采访时表示。作为对个股和行业研判的重要环节，上市公司调研透露出险资一段 时间内的兴趣点。Wind数据显示，2026年开年以来，保险公司及保险资管公司合计调研A股上市公司逾 300家。从调研标的分布来看，部分区域性银行和新质生产力领域个股备受险资关注。 调研个股透露险资偏好 从调研机构看，截至2月5日，2026年以来有96家保险公司、32家保险资产管理公司参与调研A股上市公 司。保险公司中，太平养老、长江养老、国寿养老、人保养老在一个多月的时间里调研次数均超过30 次。保险资管公司中，泰康资产、华泰资产、新华资产、人保资产、国寿资产、大家资产调研次数居 前，也均达到30次以上。 从调研对象来看，部分区域性银行以及电子元件、电子设备和仪器、半导体材料与设备等领域关注度颇 高。 上海银行、南京银行、苏州银行、齐鲁银行、厦门银行等多家区域性银行，均位列险资调研行列，上海 银行被14家保险公司及保险资管公司调研，南京银行也得到10家保险公司及保险资管公司调研。息差变 化及管理举措、投资策略、资产质量、分红计 ...

今年以来，机构调研热度持续攀升。Wind资讯数据显示，1月1日至2月5日，已有超700家上市公司接受 机构调研。 头部企业的"出海"表现也成为机构调研的焦点之一。大金重工是国内风电塔筒行业首家上市企业，公司 相关负责人透露，公司在德国海风基础领域市占率很高，项目交付业绩出色，并且在德国库克斯哈芬港 口已锁定码头，未来用于开展本地化服务；公司在波兰市场已完成布局，拥有员工储备，且具备本地化 安装和检验的项目经验。 "机构对计算机、医药生物及电子板块的密集调研，本质上是对新兴科技从概念窗口期迈向业绩兑现期 的深度摸底。以脑机接口和具身智能为代表的交叉学科技术，正加速商业化闭环进程。"深度科技研究 院院长张孝荣对《证券日报》记者表示。 排排网财富公募产品运营曾方芳对《证券日报》记者表示："2026年机构调研更加聚焦企业技术研发进 展、订单签订及落地情况，重点围绕AI产业链、先进制造等高景气赛道展开，具备硬科技属性和可持 续盈利模式的企业正成为资金布局的重点。" （文章来源：证券日报） 从行业分布来看，计算机、机械设备、医药生物和电子板块成为机构关注的重点。大金重工股份有限公 司（以下简称"大金重工"）、北京海天瑞声 ...

Summary of Key Points from Conference Call Records Industry and Company Involved - The focus is on the **commercial aerospace industry** and **AI technology sector**, specifically highlighting **SpaceX** and its initiatives [1][2]. Core Insights and Arguments - **SpaceX's Progress**: SpaceX is actively advancing its IPO process and plans to integrate xAI into its business model. It has submitted an application to the FCC for a million AI satellites, aiming to create a satellite constellation for space computing power [1]. - **Collaboration with Apple**: SpaceX is collaborating with Apple to promote direct satellite connectivity for mobile phones, which is expected to expand the downstream applications in the commercial aerospace sector [1]. - **AI and AGI Development**: Major companies like Ant Group and Google are releasing world models, which are crucial for the advancement of Artificial General Intelligence (AGI). The integration of Large Language Models (LLM) and world models is anticipated to enhance AI's ability to understand and interact with the physical world [1]. Additional Important Content - **AI Traffic Competition**: Major companies are competing for AI traffic during the Spring Festival, with total investments exceeding 1.5 billion. The success of DeepSeek and subsequent promotions is setting a precedent for AI product marketing during the festival [2]. - **Future AI Product Promotion**: In 2026, various companies are expected to launch promotional subsidies, which may accelerate the adoption of Bot-type AI products and lay the groundwork for the commercialization of AI applications [2]. - **Investment Recommendations**: Continued optimism is expressed for the synergy between aerospace and AI. Key companies to watch include: - **AI Sector**: Haitai Ruisheng, Deepin Technology, Dingjie Zhizhi, Hehe Information, Guoneng Rixin, Zhongkong Technology, and Wanxing Technology [2]. - **Commercial Aerospace**: Focus on three main areas: - Rocket manufacturing materials and structural components (e.g., Guoji Jinggong) - Core components and testing services for satellites (e.g., Electric Science Digital, Suochen Technology) - Terminal and service-related companies in space computing and communication operations [2].

本周投资组合：#深信服、海光信息、鼎捷数智、同花顺、虹软科技、合合信息、电科数字、海天瑞声、国能日新 # 商业航天SpaceX链催化持续。 SpaceX积极推进上市进程，拟吸收xAI整合业务。 SpaceX向FCC提交百万颗AI卫星申请，目标打造太空算力卫星星座。 苹果与SpaceX拟联合推动手机直连卫星服务 # 继续看多AI与商业航天 【建投计算机】 # 继续看多AI与商业航天 【建投计算机】 SpaceX向FCC提交百万颗AI卫星申请，目标打造太空算力卫星星座。 苹果与SpaceX拟联合推动手机直连卫星服务，商业航天下游应用领域有望拓展。 #全球世界模型赛道大厂云集，#蚂蚁和谷歌连续发布世界模型，#AGI进展有望加速。 如果LLM是AGI的大脑，世界模型就是AGI感知物理世界的抓手，两者结合将推动AI从处理文本信息进阶到理解并 操作物理世界，加速实现AGI之路。 #大厂争夺春节AI流量，#总投入超15亿。 2025年春节DeepSeek及后续元宝推广爆火，已为大厂打样春节AI产品推广流量时机。 本周投资组合：#深信服、海光信息、鼎捷数智、同花顺、虹软科技、合合信息、电科数字、海天瑞声、国能日新 # 商业航 ...

2026年以来，在商业航天、AI应用、脑机接口等板块的轮动热潮下，科技股成为险资机构调研的"香饽 饽"。据不完全统计，今年1月，共有97家险资机构调研约170家上市公司，参与调研的险资机构数量同 比增长超两成。其中，被调研企业超半数为科技类公司，海天瑞声、熵基科技、中际旭创、能科科技、 复旦微电等公司被重点关注，均被5家以上险资机构调研。从参与调研的险资机构类型来看，今年以来 参与调研次数前四名均为养老险公司，分别是太平养老、长江养老、平安养老、国寿养老，均参与调研 超10次。（上证报） ...

1月30日，A股三大指数涨跌不一。截至收盘，沪指跌0.96%报4117.95点，深成指跌0.66%报14205.89点，创业板指涨1.27% 报3346.36点。从板块行情上来看，今日表现较好的是光通信模块、CPO概念和算力概念，而黄金概念、小金属概念和稀缺 资源等板块下跌。 基金经理是一只基金产品最核心的成员，能决定一只基金的投资方向、投资策略以及投资风格，基金经理出色的择时选股 能力和调研预测能力是基金业绩的有力保证，所以基金经理是投资者在选择基金产品时的重要参考依据。基金经理的变动 很大程度上会影响到基金产品未来的表现，是一个需要特别关注的信息。1月30日共有30位基金经理发生任职变动。 根据巨灵统计的数据，近30天（12.31-1.30）共有567只基金产品的基金经理发生离职。其中今天（1.30）有44只基金产品 发布基金经理离职公告，涉及10名基金经理。从变动原因上来看，有4位基金经理是由于个人原因而从管理的18只基金产品 中离职。有1位基金经理是由于产品到期而从管理的2只基金产品中离职。有5位基金经理是由于工作变动而从管理的24只基 金产品中离职。 | | | 基金代码 | 公告日期 | 变动日期 ...

记者｜庞华玮 编辑｜包芳鸣 2026年伊始，A股市场迎来机构调研热潮。 截至1月26日，已有超过500家上市公司接受机构调研，其中工业机械、电子元件、电气设备、 半导体及汽车零配件等行业成为关注重点。 其中，"硬科技"与"出海"主线尤为突出。 在个股层面，大金重工、翔宇医疗、海天瑞声等14家公司获得超百家机构扎堆调研，其中大金 重工以209家机构调研数量位居第一。 机构调研热潮 新年伊始，机构调研活跃。Wind数据显示，截至1月26日，开年以来共有512家A股上市公司 接受了机构调研，调研总次数达801次。这一数据保持了较高的市场热度。 值得关注的是，个股层面，超百家机构扎堆调研14家A股公司，这些个股涨幅显著。 其中，大金重工以209家机构调研数量领先，这家电气设备公司受到了市场的广泛关注。 此外，医疗行业的翔宇医疗、爱朋医疗、美好医疗和博拓生物等分别获得208家、177家、125 家和117家机构调研；计算机行业的海天瑞声、熵基科技、能科科技和航天宏图，分别获得207 家、132家、107家和101家机构调研；汽车领域的超捷股份，获138家机构调研；工业机械领 域的耐普矿机，获132家机构调研；电子领域的 ...

2026年伊始，A股市场迎来机构调研热潮。 机构调研热潮 新年伊始，机构调研活跃。Wind数据显示，截至1月26日，开年以来共有512家A股上市公司接受了机构调研，调研总次数达801次。这一数据 保持了较高的市场热度。 格上基金研究员托合江指出，2026年以来机构调研总次数为801次，而2025年同期为953次，A股机构调研整体活跃度虽有所回落，但当前调研 活动更集中于高景气赛道，凸显机构布局的结构性特征。 从调研频率看，泰和新材以12次调研位居榜首，冰轮环境以10次紧随其后，汇川技术和天禄科技分别为9次，博盈特焊和太力科技分别为8次。 这些高频被调研公司主要集中在制造业和技术创新领域。 从行业分布来看，机构调研呈现出明显的硬科技与高端制造导向。工业机械行业以55家公司被调研位居第一，成为机构关注的焦点领域。 电子元件行业有35家公司获得调研，紧随其后。此外，电子设备和仪器、电气部件与设备、商品化工、汽车零配件与设备、集成电路等行业分 别有29家、27家、26家、22家和22家公司被调研。 截至1月26日，已有超过500家上市公司接受机构调研，其中工业机械、电子元件、电气设备、半导体及汽车零配件等行业成为关注 ...

Core Insights - The A-share market has seen a surge in institutional research activities at the beginning of 2026, with over 500 listed companies undergoing institutional investigations, particularly in sectors like industrial machinery, electronic components, electrical equipment, semiconductors, and automotive parts [1][3][10] - The main themes of focus are "hard technology" and "going global," with a notable concentration on high-growth sectors [5][11] Institutional Research Activity - As of January 26, 2026, a total of 512 A-share companies have been researched by institutions, with 801 total research instances, indicating a high level of market engagement [3][4] - The frequency of research is led by Taihe New Materials with 12 instances, followed by Ice Wheel Environment with 10, and several others with 9 or 8 instances, primarily in manufacturing and technology innovation [3][4] Industry Focus - The industrial machinery sector has the highest number of researched companies at 55, followed by electronic components with 35, and various other sectors including electrical equipment, automotive parts, and integrated circuits [3][4] - Notable companies receiving significant attention include Dajin Heavy Industry with 209 institutions, Xiangyu Medical with 208, and others in the medical and technology sectors [4][6] Stock Performance - The 14 companies that attracted over 100 institutional research instances have generally seen significant stock price increases, with Dajin Heavy Industry rising by 18.43% and the highest increase being 80.19% for Dike Shares in the photovoltaic equipment sector [4][6] Institutional Preferences - Institutions are focusing on companies with technological breakthroughs, capacity expansion, international strategies, and commercialization progress [5][10] - Different types of institutions show varied preferences, with public funds tracking companies like Huichuan Technology and Taihe New Materials, while insurance asset management focuses on value and dividend-oriented companies [9][10] Future Trends - The trend for institutional research is expected to continue focusing on "hard technology" and globalization, particularly in AI computing power, semiconductors, and high-end manufacturing [11][12] - Institutions are likely to adopt a more refined approach, concentrating on leading companies in specific sectors and assessing their performance and long-term growth potential [12]