Core Viewpoint - The three major indices opened high but closed lower, with the ChiNext index experiencing a drop of over 2% during the day [1][2]. Market Performance - As of the market close, the Shanghai Composite Index fell by 0.01%, the Shenzhen Component Index decreased by 0.97%, and the ChiNext Index dropped by 1.79% [1][2]. - The real estate sector showed strength, with stocks such as Doyou City, Urban Investment Holdings, China Enterprise, and Hefei Urban Construction reaching their daily limit [1][2]. - The chemical sector also performed well, with stocks like Jiangtian Chemical, Cangzhou Dahua, and Hongbaoli hitting their daily limit [1][2]. - The AI marketing concept was active, with stocks like Zhejiang Wenlian and Guangdong Media reaching their daily limit [1][2]. - Precious metals experienced fluctuations, with stocks such as Zhaojin Gold and Hunan Silver also hitting their daily limit [1][2]. Sector Performance - The sectors with the highest gains included real estate, daily chemicals, chemical fibers, water utilities, and banking [1][2]. - Conversely, sectors that saw declines included communication equipment, military information technology, aviation, satellite navigation, and commercial aerospace [1][2].

Group 1 - Zhonghua Enterprises has reached the daily limit increase in stock price [1] - Other companies such as Wo Ai Wo Jia, Chengtou Holdings, and Dayuecheng previously hit the limit as well [1] - Following this trend, companies like China Merchants Jin Yu, China Merchants Shekou, and Binjiang Group have also seen stock price increases [1]

Market Overview - The Shanghai Composite Index closed at 4101.62 points, above the six-month moving average, with a decline of 0.30% [1] - The total trading volume of A-shares reached 18654.95 billion yuan [1] Stocks Above Six-Month Moving Average - A total of 119 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include Jiangtian Chemical (15.30%), Meibang Technology (10.67%), and Hanjian Heshan (10.04%) [1] Stock Performance Details - Jiangtian Chemical (300927) saw a price increase of 19.99% with a turnover rate of 13.00%, latest price at 30.31 yuan [1] - Meibang Technology (920471) increased by 20.28% with a turnover rate of 14.46%, latest price at 16.19 yuan [1] - Hanjian Heshan (603616) rose by 10.07% with a turnover rate of 8.34%, latest price at 6.23 yuan [1] Additional Stocks with Notable Performance - Other stocks with significant performance include: - Jiaxin Technology (000560) up by 10.00%, latest price at 3.30 yuan [1] - China Merchants Shekou (001979) up by 8.32%, latest price at 10.02 yuan [1] - Jingji Zhino (000048) up by 10.01%, latest price at 16.82 yuan [1] Stocks with Smaller Deviation Rates - Stocks with smaller deviation rates just above the six-month moving average include: - Zhongyuan Haifa (000048) with a deviation rate of 3.15% [2] - Daya City (000031) with a deviation rate of 3.94% [2] - Baichuan Chang (300614) with a deviation rate of 3.71% [2]

Market Overview - A-shares opened high but closed lower, with the Shanghai Composite Index down 0.3% at 4101.62 points, Shenzhen Component down 1.22%, and ChiNext Index down 1.83% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.85 trillion yuan, an increase of 568 billion yuan compared to the previous trading day [2] Sector Performance - The communication equipment, aerospace military, electronic components, basic metals, and energy equipment sectors experienced significant declines [2] - The banking and insurance sectors saw a notable rise, with food and beverage, real estate, and semiconductor sectors also performing well [2] Banking and Insurance Sector - The banking and insurance sector showed resilience, with major insurance stocks like China Life and Ping An rising over 1% [3] - Key banking stocks such as CITIC Bank increased by over 2%, while other banks like China Construction Bank and Bank of China rose by over 1% [5] - A report from China Galaxy Securities indicated that structural monetary policy tools and a marginal improvement in RMB credit could support bank lending [5] Food and Beverage Sector - The food and beverage sector was active, with food processing stocks leading the gains, including Hongmian Co., Jingji Zhino, and Weizhi Xiang, all hitting the daily limit [6] - Notable performers included Hongmian Co. with a 10.13% increase and Jingji Zhino with a 10.01% increase [7] Real Estate Sector - The real estate sector showed a rebound, with stocks like Dayue City and Chengtou Holdings hitting the daily limit, and others like China Merchants Shekou and Binjiang Group rising over 5% [8] - Recent data from the National Bureau of Statistics indicated a slight decrease in new residential sales prices in first-tier cities, which may influence market sentiment [10] Aerospace and Military Sector - The aerospace and military sector faced significant declines, with stocks like Tongyu Communication and Aerospace Power hitting the daily limit down, and Aerospace Hongtu dropping 13% [11] - Other companies in the sector, such as China Satellite and China Aerospace, also saw declines exceeding 6% [12]

Core Viewpoint - Dalian City (SZ000031) reached its daily limit on January 20, 2026, with a price of 3.25 yuan, a rise of 10.17%, and a total market capitalization of 13.931 billion yuan, indicating strong market confidence due to debt management and support from COFCO Group [1] Group 1: Debt Management and Credit Rating - The company has faced challenges in debt management but has consistently repaid bond principal and interest on time, maintaining an AAA credit rating, which reflects strong repayment capability and credit status [1] - Support from COFCO Group, as a core real estate platform, aids the company in navigating operational pressures during its transformation period [1] Group 2: Project Development and Financing - Despite the overall adjustment in the real estate sector, the company continues to advance real estate project development, with new quality projects in key cities such as Sanya, Chengdu, and Qingdao, providing future growth support [1] - The company has access to significant bank credit lines, indicating recognition from financial institutions and a smooth financing channel [1] Group 3: Market Performance and Technical Indicators - On the day of the stock's rise, some real estate stocks showed synchronized increases, creating a sectoral linkage effect [1] - The MACD indicator for the stock shows a potential golden cross trend, indicating short-term upward momentum [1] - There was a net inflow of large orders on that day, suggesting the involvement of major funds [1]

Core Viewpoint - The real estate sector experienced a significant rally, with several companies reaching their daily price limits following the announcement of an extension of tax incentives for home purchases until the end of 2027 [1] Group 1: Market Reaction - Major real estate stocks such as Dayuecheng and Wo Ai Wo Jia hit their daily price limits, indicating strong investor confidence [1] - Other companies like China Merchants Shekou, Binjiang Group, Poly Development, and China Enterprises saw their stock prices increase by over 5% [1] Group 2: Policy Announcement - The Ministry of Finance and two other departments announced the continuation of personal income tax incentives for residents purchasing new homes after selling their existing properties [1] - The policy allows taxpayers to receive a tax refund based on the ratio of the transaction amounts of the old and new homes, provided the new purchase occurs within one year of the sale [1]

房地产板块盘中再度拉升，大悦城封涨停，此前城投控股涨停，招商蛇口、滨江集团、保利发展、中华 企业均涨超5%。 ...

证券代码：000031.SZ 证券简称：大悦城 债券代码：148174.SZ 债券简称：23 大悦 01 大悦城控股集团股份有限公司2023年面向专业投资者公开 发行公司债券（第一期）2026年付息及回售部分债券兑付 公告 债权登记日：2026 年 1 月 16 日 债券付息日：2026 年 1 月 19 日 债券除息日：2026 年 1 月 19 日 凡在 2026 年 1 月 16 日（含）前买入并持有本期债券的投资者享有本次派发 的利息；2026 年 1 月 16 日（含）卖出本期债券的投资者不享有本次派发的利息 回售资金发放日：2026 年 1 月 19 日 大悦城控股集团股份有限公司 2023 年面向专业投资者公开发行公司债券 （第一期）将于 2026 年 1 月 19 日开始支付自 2025 年 1 月 19 日至 2026 年 1 月 18 日期间（以下简称"本年度"）的利息和回售部分债券的兑付资金。为保证本 次付息和回售部分债券兑付工作的顺利进行，方便投资者及时领取利息和回售部 分债券兑付资金，根据《大悦城控股集团股份有限公司 2023 年面向专业投资者 本公司及董事会全体成员保证信息披露的真 ...

证券代码：000031.SZ 证券简称：大悦城 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 特别提示： 本次"23大悦01"回售部分债券的本金及利息已于2026年1月15日足额支付 至中国证券登记结算有限责任公司深圳分公司指定银行账户，并将于回售资金 到账日2026年1月19日划付至投资者资金账户。 根据《大悦城控股集团股份有限公司2023年面向专业投资者公开发行公司 债券（第一期）募集说明书》的约定，"23大悦01"的债券持有人在回售登记 期内（2025年12月4日至2025年12月8日、2025年12月26日）选择将其所持有的 "23大悦01"全部或部分回售给大悦城控股集团股份有限公司（以下简称"公 司"或"发行人"），回售价格为100元/张（不含利息），回售资金兑付日为 2026年1月19日，本次回售资金已足额划转至中国证券登记结算有限责任公司深 圳分公司。 根据中国证券登记结算有限责任公司深圳分公司提供的数据，"23大悦 01"的回售数量为20,000,000张，回售金额为2,000,000,000.00元（不包含利 息）；本次有效回售后剩余未回售数 ...

广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 签署日期：2026 年 1 月 声明 本报告依据《公司债券发行与交易管理办法》《公司债券受托管理人执业行 为准则》《大悦城控股集团股份有限公司 2023 年面向专业投资者公开发行公司债 券受托管理协议》《大悦城控股集团股份有限公司 2022 年面向专业投资者公开发 行公司债券债券持有人会议规则》及其它相关公开信息披露文件以及大悦城控股 集团股份有限公司（以下简称"大悦城控股"或"发行人"）出具的相关公告、 说明文件等，由大悦城控股集团股份有限公司发行公司债券的受托管理人中信证 券股份有限公司（以下简称"中信证券"）编制。 股票简称：大悦城 股票代码：000031.SZ 债券简称：23 大悦 01 债券代码：148174.SZ 中信证券股份有限公司关于"23 大悦 01"回售结果 及转售事项的临时受托管理事务报告 发行人 深圳市宝安区新安街道 3 区龙井二路 3 号中粮地产集团中心第 1 层 101 室 受托管理人 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为中信证券所作的承诺 ...