1月20日，截至收盘，沪指跌0.01%，报4113.65点，深成指跌0.97%，报14155.63点，创业板指跌1.79%，报3277.98点。从板 块行情上来看，今日表现较好的是环氧丙烷、化工原料和降解塑料，而天基互联、北斗导航和光通信模块等板块下跌。 | | 票个数排行 | 近一个月基 | | | --- | --- | --- | --- | | | 调研股票家数 | 基金公司调研行 | | | 中昌县等官报 20 | 51 | 汽车零部件 | 165 | | 博时墓金管理有限公司 | 39 | 医疗器械 | 132 | | 南方基金管理股份有限公司 | 32 | 专用设备 | 103 | | 国泰基金管理有限公司 | 30 | 通用设备 | 98 | | 工银瑞信基金管理有限公司 | 30 | 化学制品 | 96 | | 富国基金管理有限公司 | Sa | 通信设备 | 95 | | 永赢星金管理有限公司 | 29 | 半导体 | 86 | | 交银施罗德基金管理有限公司 | 28 | 其他电源设备II | 64 | | 鹏华夏金复理有限公司 | 26 | 化学纤维 | 60 | | 易方达基金管理有 ...

Market Overview - A-share major indices showed a significant rebound this week, with the weekly performance of the indices as follows: CSI 300 at -0.57%, ChiNext 300 at 1.39%, STAR 50 at 2.58%, CSI 500 at 2.18%, CSI 1000 at 1.27%, and the humanoid robot index at 1.48%, with the STAR 50 showing the most notable recovery [1] Recent Events and Highlights - China applied to the International Telecommunication Union (ITU) for frequency resources for over 200,000 satellites, with more than 190,000 satellites coming from the newly established Radio Innovation Institute. Experts are optimistic about the institute's role in integrating industry resources and leveraging China's large market to accelerate its industry to catch up with SpaceX [2] Current Perspectives - The establishment of the humanoid robot and embodied intelligence standardization technical committee by the Ministry of Industry and Information Technology is viewed positively for the humanoid robot industry chain, with related companies including Hengshuai Co., Junpu Intelligent, Anpeilong, Keda Li, Lens Technology, Changying Precision, Sanhua Intelligent Control, Fengmao Co., Top Group, and Wuzhou Xinchun [3] - Guangdong has launched its first provincial-level drone governance system, creating a drone resource pool and a provincial management platform to build a "one network for unified flight" service ecosystem, with related companies including Xindong Link, Wanfeng Aowei, Wolong Electric Drive, and Zongshen Power [3] - The China Academy of Information and Communications Technology's Tair System Laboratory recently issued a liquid cooling capability testing report and certificate to Shenzhen Invech Technology Co., indicating that AI data center construction is expected to drive demand for liquid cooling equipment, with related companies including Invech, Nanfeng Co., Chuanrun Co., and Bojie Co. [3] - China's application to the ITU for over 200,000 satellites coincides with the U.S. Federal Communications Commission granting SpaceX significant authorization to build, deploy, and operate an additional 7,500 second-generation Starlink satellites, with related companies including Superjet Co., Xindong Link, Guoji Precision, and Electric Science Digital [3]

Market Overview - The IT services sector experienced a decline of 1.27% on January 19, with Yanshan Technology leading the drop [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Top Performers in IT Services - Langxin Technology (300682) saw a closing price of 19.26, with a significant increase of 7.36% and a trading volume of 816,700 shares, amounting to 1.563 billion yuan [1] - Huina Technology (300609) closed at 45.56, up 6.00%, with a trading volume of 174,700 shares, totaling 805 million yuan [1] - Jiechuang Intelligent (301248) closed at 49.49, up 5.91%, with a trading volume of 156,700 shares, amounting to 764 million yuan [1] Underperformers in IT Services - Ruosheng Technology (002195) experienced a significant drop of 9.93%, closing at 9.62, with a trading volume of 16.73 million shares, totaling 1.6345 billion yuan [2] - ST Saiwei (300044) closed at 5.40, down 8.16%, with a trading volume of 883,400 shares, amounting to 497 million yuan [2] - Huasheng Tiancai (600410) saw a decline of 7.55%, closing at 20.33, with a trading volume of 2.6993 million shares, totaling 5.515 billion yuan [2] Capital Flow in IT Services - The IT services sector experienced a net outflow of 4.973 billion yuan from institutional investors, while retail investors saw a net inflow of 3.896 billion yuan [2] - The sector also recorded a net inflow of 1.077 billion yuan from speculative funds [2] Individual Stock Capital Flow - Zimi Co. (000938) had a net inflow of 428 million yuan from institutional investors, but a net outflow of 1.91 billion yuan from speculative funds [3] - Langxin Technology (300682) reported a net inflow of 111 million yuan from institutional investors, with outflows from both speculative and retail investors [3] - Nanjing Digital (301638) saw a net inflow of 53.01 million yuan from institutional investors, while experiencing outflows from speculative and retail investors [3]

昨日基金共对24家公司进行调研，扎堆调研海天瑞声、帝科股份、钧达股份等。 证券时报·数据宝统计，1月15日共30家公司被机构调研，按调研机构类型看，基金参与24家公司的调研 活动，其中，5家以上基金扎堆调研公司共8家。海天瑞声最受关注，参与调研的基金达49家；帝科股 份、钧达股份等分别获12家、9家基金集体调研。 基金参与调研的公司中，按所属板块统计，深市主板公司有12家，创业板公司有9家，沪市主板公司有2 家，科创板公司有1家。所属行业来看，基金调研的公司共涉及15个行业，所属电力设备行业最多，有4 家公司上榜；汽车、纺织服饰等紧随其后，分别有2家、2家公司上榜。 从基金调研公司的A股总市值统计，总市值在500亿元以上的共有2家，其中总市值超千亿元的有宁波银 行、顺丰控股等，总市值不足100亿元的有9家，分别是民和股份、安利股份、正海生物等。 | 300945 | 曼卡龙 | 1 | 17.63 | 6.53 | 纺织服饰 | | --- | --- | --- | --- | --- | --- | | 300653 | 正海生物 | 1 | 22.06 | 5.05 | 医药生物 | | 002234 ...

证券日报网1月15日讯，海天瑞声在接受调研者提问时表示，公司于2024年整合了位于东南亚的一个超 过1000人的标注基地。该基地主要提供内容审核和数据标注服务。预计2025年该基地将贡献千万级美元 收入。此次布局标志着公司境外交付能力建设进入了新阶段。公司计划于2026年在东南亚地区建设第二 个本地化交付基地，预计到2026年底，境外基地总人数将再新增500人左右。该类基地建设为公司未来 承接中国一线科技公司的出海业务、以及北美头部客户的定制化大型订单提供了关键的基础保障。 ...

2026年，A股"开门红"后，市场活跃度显著提升，主题热点不断涌现。 券商机构的调研路线开始发生变化，重点逐步转向了AI应用、脑机接口等热门赛道。特别是最近备受 市场追捧的GEO（生成式引擎优化，核心逻辑是让品牌内容直接嵌入AI答案）概念，如壹网壹创获得 券商扎堆调研。 总体上，近期券商调研重点围绕行业高景气、业绩确定性、估值性价比等线索展开。 受访人士向21世纪经济报道记者指出，券商调研动向反映出市场三大趋势：一是风格更趋均衡，兼顾 AI、高端制造等高景气成长与消费、周期等修复板块；二是从题材炒作转向业绩兑现，重点关注有订 单、现金流支撑的细分龙头；三是持续聚焦国产自主化与出海主线，挖掘在产业链升级中具备全球竞争 力的优质企业。 机构调研新动向 2026年开年，机构调研热情高涨。据Wind统计，1月1日—1月14日，超过260家A股上市公司接受了机构 调研。其中，有230多家上市公司获得券商调研。 具体来看，年初以来，GEO概念股壹网壹创、AI+制药概念股成都先导、脑机接口概念股翔宇医疗分别 获得27家、25家、23家券商调研，为最受券商青睐的3家公司。 在调研过程中，机构比较关注上述企业在技术研发进展、业 ...

该类基地建设为公司未来承接中国一线科技公司的出海业务、以及北美头部客户的定制化大型订单提供 了关键的基础保障。 2026年1月15日，海天瑞声披露接待调研公告，公司于1月12日至1月15日接待淡水泉投资、Brilliance AM、Eastspring Investments、Matthews Int＇l Capital Mgmt、Pinpoint Asset Management、WT AM等204 家机构调研。 调研情况显示，海天瑞声在境外基地布局方面，2024年整合东南亚超1000人标注基地，提供内容审核和 数据标注服务，预计2025年贡献千万级美元收入，2026年计划在东南亚建设第二个基地，届时境外基地 总人数将新增500人左右，为承接中国科技公司出海业务及北美头部客户定制化订单提供支撑。境外传 统训练数据业务受全球化AI应用场景驱动，需求涵盖多语种语音识别（服务智能助手等）、手写体 （支持金融票据识别等）、文本数据（用于自然语言理解等），公司凭借全球供应链管理能力和技术积 累推动业务发展。政府类业务形成"特色数据建库、可信数据空间搭建、数据交易平台参与、场景化模 型开发"的合作模式，已与成都、长沙等 ...

Core Viewpoint - The company is expanding its overseas operations and focusing on high-growth areas such as embodied intelligence data, leveraging its capabilities in data annotation and management to meet increasing global demand for high-quality training data. Group 1: Overseas Base Development - The company plans to integrate a Southeast Asia-based annotation center with over 1,000 personnel by 2024, expected to generate millions in revenue by 2025, and aims to establish a second base in the region by 2026, adding approximately 500 personnel [1][3] - This expansion supports the company's ability to handle outbound business for Chinese tech firms and customized orders from leading North American clients [3] Group 2: Traditional Training Data Business Drivers - The demand for high-quality, multilingual, and scenario-based training data is driven by the rapid deployment of global AI applications [4] - Key product lines include multilingual speech recognition data, handwriting data for financial document processing, and multilingual text data for natural language understanding [4][5] Group 3: Government Business Collaboration - The company has established a clear collaboration model with local governments, focusing on building high-quality data sets based on local characteristics, ensuring data security, and developing data trading platforms [7] - Recent projects include partnerships with cities like Chengdu and Changsha, and the completion of initial data sets for Hohhot and the Guangxi ASEAN corpus [7] Group 4: Embodied Intelligence Data Business - The company views embodied intelligence data as a high-growth sector and has formed a dedicated team to explore opportunities in various cities [8] - Collaborations with robotics manufacturers and tech giants are underway to meet the demand for high-quality training data in real-world applications [8] Group 5: Competitive Advantages in Training Data - The company has developed a dual-service product model, with significant contributions from productization, ensuring high profit margins and scalability [9] - Emphasis on technological development, supply chain management, and data security compliance has strengthened its competitive position [9][10] - The company has achieved important certifications, enhancing its reputation and compliance with international and domestic regulations [10] Group 6: Pricing and Revenue Models - Custom services are priced using a cost-plus model, while product pricing is demand-driven, allowing flexibility based on market conditions [12] - The pricing strategy is influenced by supply and demand dynamics, with high-value data maintaining premium pricing, while more mature segments face price competition [12]

Core Viewpoint - The recent pullback of the Huabao Sci-Tech AI ETF (589520) after reaching a historical high is seen as a buying opportunity by investors, reflecting strong confidence in the domestic AI industry chain [1][3]. Group 1: ETF Performance - The Huabao Sci-Tech AI ETF (589520) experienced a decline of 2.71% after hitting a record high, with a trading volume exceeding 55 million yuan within half a day [1]. - Over the past three days, the ETF attracted a total of 121 million yuan in investments, indicating positive market sentiment towards the domestic AI industry chain [1]. Group 2: Component Stocks - Among the component stocks, Yaxin Security led with a gain of over 4%, while Hehe Information rose by more than 3%. Other notable gainers included Chipone Technology, Lattice Semiconductor, and Qi Anxin, each increasing by over 1% [3]. - Conversely, XH Technology saw a decline of nearly 20%, approaching its daily limit down, while Zhongke Shuguang and Haitan Ruisheng fell by over 18% and 11%, respectively, negatively impacting the index performance [3]. Group 3: Industry Developments - The Ministry of Industry and Information Technology recently issued a plan for the high-quality development of industrial internet platforms from 2026 to 2028, marking a new phase in China's industrial internet development [3]. - The plan introduces the concept of "industrial intelligence," emphasizing the deep integration of AI into the entire industrial chain, which is expected to revolutionize traditional manufacturing practices [3]. Group 4: AI Industry Outlook - The AI industry is transitioning from a focus on AIGC (Artificial Intelligence Generated Content) to applications in manufacturing, with the potential for AI to become a true productivity tool [3]. - According to CITIC Securities, the synergy between self-control and AI is expected to drive strong performance in related sectors by 2025, with this trend likely to strengthen further in 2026 [3]. Group 5: ETF Composition and Strategy - The Huabao Sci-Tech AI ETF (589520) is strategically diversified across four key segments: application software, terminal applications, terminal chips, and cloud chips, reflecting the current state of the AI industry chain [4]. - The ETF emphasizes domestic alternatives, with over 70% of its top ten holdings in the semiconductor sector, indicating a high concentration and aggressive positioning [5].

1月15日，A股市场AI应用板块全线回调，其中，光云科技20CM跌停，天龙集团逼近20CM跌停，值得 买跌超18%，蓝色光标跌12%，拓尔思、因赛集团跌超10%，浙文互联、岩山科技、天下秀10CM跌 停，海天瑞声、福石控股、省广集团、兆讯传媒跌超9%，川网传媒、欢瑞世纪、博瑞传播跌超8%。 | 代码 | 名称 | | 涨幅% ↑ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 688365 | 光云科技 | 1 | -20.00 | 117亿 | 62.18 | | 300063 | 天龙集团 | 1 | -19.97 | 106亿 | 62.78 | | 300785 | 值得买 | 4 | -18.18 | 136亿 | 56.64 | | 300058 | 蓝色光标 | 1 | -12.02 | 683亿 | 65.19 | | 300229 | 拓尔思 | + | -10.49 | 241亿 | 38.89 | | 300781 | 因悪集团 | | -10.34 | 74.90亿 | 31.17 | | 600986 | 浙文互联 ...