| 600660 | 福耀玻璃 | -1.32 | 1.18 | 2584.99 | | --- | --- | --- | --- | --- | | 603358 | 华达科技 | 0.55 | 1.60 | 2576.83 | | 002488 | 金固股份 | 2.01 | 8.28 | 2421.25 | | 301535 | 浙江华远 | -3.91 | 14.28 | 2326.20 | | 002126 | 银轮股份 | -1.45 | 4.29 | 2146.65 | | 002937 | 兴瑞科技 | 1.19 | 3.74 | 1926.34 | | 001311 | 多利科技 | 2.90 | 14.26 | 1813.14 | | 300375 | 鹏翎股份 | -7.04 | 14.20 | 1775.60 | | 603926 | 铁流股份 | 0.49 | 7.54 | 1769.74 | | 603121 | 华培动力 | -0.09 | 3.17 | 1685.13 | 汽车行业今日下跌2.31%，全天主力资金净流出92.66亿元，该行业所属的个股共284只，今日上涨的有 ...

Core Viewpoint - The data indicates significant outflows of capital from various stocks, with notable amounts withdrawn from companies across different industries, suggesting a potential shift in investor sentiment and market dynamics [1][2][3] Group 1: Major Stocks with Capital Outflows - Sanhua Intelligent Control experienced a capital outflow of 1.402 billion, with a decline of 2.73% in stock price [2] - Tongfu Microelectronics saw a capital outflow of 1.309 billion, with a decrease of 1.55% [2] - Contemporary Amperex Technology reported a capital outflow of 1.143 billion, with a drop of 2.8% [2] - Zhaoyi Innovation also faced a capital outflow of 1.143 billion, with a decline of 1.93% [2] - Changdian Technology had a significant outflow of 861 million, with a sharp decrease of 6.25% [2] Group 2: Other Notable Stocks - Hunan Silver experienced a capital outflow of 836 million, but its stock price increased by 6.67% [2] - Huada Technology saw an outflow of 825 million, with a decline of 3.1% [2] - Yango Technology faced a capital outflow of 723 million, with a significant drop of 6.37% [2] - Sungrow Power Supply had an outflow of 720 million, with a decrease of 1.16% [2] - TBEA reported a capital outflow of 653 million, with a decline of 2.5% [2] Group 3: Additional Stocks with Capital Outflows - Baiwei Storage experienced a capital outflow of 588 million, with a slight decrease of 0.79% [2] - Nanda Optoelectronics saw an outflow of 577 million, with a decline of 4.25% [3] - Lens Technology faced a capital outflow of 565 million, with a decrease of 2.09% [3] - Zijin Mining reported an outflow of 556 million, with a decline of 2.31% [3] - EVE Energy experienced a capital outflow of 555 million, with a drop of 2.99% [3]

| 行业 | 日涨跌幅（%） | 资金流向（亿元） | 行业 | 日涨跌幅（%） | 资金流向（亿元） | | --- | --- | --- | --- | --- | --- | | 电子 | 2.62 | 163.69 | 交通运输 | -0.77 | -2.67 | | 有色金属 | 2.79 | 72.89 | 环保 | 0.34 | -2.72 | | 计算机 | 0.67 | 21.86 | 建筑装饰 | -0.34 | -4.23 | | 机械设备 | 1.50 | 21.00 | 家用电器 | -0.53 | -4.28 | | 基础化工 | 0.84 | 11.24 | 银行 | -1.58 | -4.47 | | 石油石化 | 0.86 | 9.27 | 轻工制造 | 0.54 | -4.62 | | 房地产 | 0.63 | 8.79 | 社会服务 | -0.04 | -4.76 | | 建筑材料 | 1.35 | 5.50 | 非银金融 | -0.78 | -7.11 | | 钢铁 | 1.39 | 5.30 | 农林牧渔 | -0.72 | -8.20 | | 医药生物 | 0.1 ...

Volatility - A total of 12 stocks in the A-share market experienced a volatility exceeding 20% today, with Jin Sun and Jin Modern leading the list [1] Turnover Rate - There were 6 stocks in the A-share market with a turnover rate exceeding 40% today, with Guangdian Electric and Hongbaoli at the forefront [1] Main Capital Flow - Main capital saw a net inflow into the electronics and non-ferrous metals sectors, while experiencing a net outflow from the power equipment and national defense sectors [1] - The stocks with the highest net inflow included China Great Wall (14.27 billion), New Yisheng (12.14 billion), Huaten Technology (10.87 billion), Tongfu Microelectronics (10.17 billion), and Shengxin Lithium Energy (6.68 billion) [1] - The stocks with the highest net outflow included Xinwei Communication (17.59 billion), Shanzi Gaoke (10.52 billion), Zhongji Xuchuang (8.39 billion), Goldwind Technology (8.15 billion), and Xiangnong Xinchuan (7.8 billion) [1]

Core Viewpoint - The data indicates significant outflows of main funds from various stocks, with notable amounts withdrawn from companies across different sectors, suggesting a potential shift in investor sentiment and market dynamics [1][2][3] Group 1: Stock Performance and Fund Outflows - The top stock with the largest fund outflow is XW Communication, with a withdrawal of 1.851 billion yuan and a decline of 10.16% in its stock price [2] - Guizhou Moutai follows with a fund outflow of 1.480 billion yuan and a decrease of 1.64% [2] - TBEA Co., Ltd. experienced a fund outflow of 1.294 billion yuan and a drop of 3.83% [2] - Other notable companies with significant outflows include: - Sanzi Gaoke: -0.993 billion yuan, -4.43% [2] - Goldwind Technology: -0.892 billion yuan, -2.34% [2] - Zhongji Xuchuang: -0.829 billion yuan, -0.53% [2] Group 2: Sector Analysis - The consumer electronics sector is represented by XW Communication and Lens Technology, both experiencing substantial fund outflows [2][3] - The beverage industry, highlighted by Guizhou Moutai, shows a minor decline in stock price despite significant fund outflow [2] - The power equipment sector, including TBEA Co., Ltd. and China Western Power, reflects mixed performance with varying fund outflows [2][3] - The telecommunications sector, represented by companies like Zhongji Xuchuang and Fenghuo Communication, also shows notable fund withdrawals [2][3]

人民财讯1月21日电，企查查APP显示，近日，浙江山子零部件科技有限公司成立，注册资本5000万 元，经营范围包含：通用零部件制造；新能源汽车换电设施销售；新能源汽车电附件销售；新能源汽车 生产测试设备销售等。企查查股权穿透显示，该公司由山子高科（000981）间接全资持股。 ...

Core Viewpoint - The data indicates significant outflows of capital from various stocks, with notable declines in share prices across multiple sectors, suggesting a bearish sentiment in the market. Group 1: Major Stocks with Capital Outflows - Xinyi Communication experienced a capital outflow of 1.23 billion, with a price drop of 7.98% [1][2] - Tebian Electric witnessed a capital outflow of 671 million, with a price decline of 2.5% [1][2] - Shanzi Gaoke had a capital outflow of 636 million, with a decrease of 4.8% [1][2] - Tianyin Electromechanical saw an outflow of 501 million, with a drop of 2.34% [1][2] - Kweichow Moutai experienced a capital outflow of 431 million, with a decline of 0.84% [1][2] Group 2: Additional Stocks with Notable Outflows - Baiwei Storage had a capital outflow of 388 million, with a price drop of 1.55% [1][2] - Fenghuo Communication saw an outflow of 363 million, with a slight increase of 0.19% [1][2] - Goldwind Technology experienced a capital outflow of 357 million, with a price increase of 0.54% [1][2] - Shannon Chip Creation had an outflow of 337 million, with a decline of 1.36% [1][2] - Agricultural Bank saw a capital outflow of 333 million, with a drop of 1.67% [1][2] Group 3: Further Stocks with Capital Outflows - China Satellite Communications experienced a capital outflow of 332 million, with a decline of 1.3% [3] - Shanghai Electric saw an outflow of 326 million, with a price drop of 2.7% [3] - Wuliangye experienced a capital outflow of 324 million, with a decline of 1.52% [3] - Shanghai Hanxun had an outflow of 303 million, with a drop of 2.15% [3] - Jiuding New Materials saw a capital outflow of 297 million, with a significant decline of 6.03% [3]

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the automotive industry [5] Core Insights - The automotive industry in China is expected to achieve record production and sales in 2025, driven by policies encouraging vehicle trade-ins and the release of new models [5] - The passenger vehicle market is showing steady growth, with production and sales surpassing 30 million units in 2025, and domestic brands capturing nearly 70% of the market share [5] - The commercial vehicle market is recovering, with production and sales exceeding 4 million units, particularly strong performance in the new energy heavy truck segment [5] - New energy vehicles (NEVs) are experiencing rapid growth, with production and sales reaching approximately 1.66 million units in 2025, accounting for nearly 50.8% of domestic sales [5] - The report highlights two main investment themes: the acceleration of L3 level autonomous driving commercialization and the transition of automotive technology towards robotics and liquid cooling systems [5] Industry Performance Review - As of January 20, 2026, the automotive (CITIC) industry index increased by 4.07%, outperforming the Shanghai Composite Index by 2.15 percentage points [10] - Over 75% of automotive stocks saw an increase in value, with notable performers including Jiaoyun Co., Saifu Technology, and Siliang Zhidu [16] - The automotive sector's PE (TTM) is at 34.4 times, ranking 15th among 30 CITIC primary industries, while the PB (LF) is at 2.7 times, ranking 80th percentile [19] Key Data Tracking Industry Overview - In 2025, the total production and sales of automobiles reached 34.53 million and 34.40 million units, respectively, marking a year-on-year increase of 10.4% and 9.4% [27] Passenger Vehicles - Passenger vehicle production and sales for 2025 reached 30.27 million and 30.10 million units, with year-on-year growth of 10.2% and 9.2% [41] Commercial Vehicles - Commercial vehicle production and sales for 2025 totaled 4.26 million and 4.30 million units, reflecting year-on-year increases of 12% and 10.9% [56] New Energy Vehicles - New energy vehicle production and sales reached 1.66 million and 1.65 million units in 2025, with a market share of 47.9%, up 7.01 percentage points year-on-year [67]

Market Overview - The automotive parts sector experienced a decline of 0.6% on January 20, with Superjet Co. leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] Stock Performance - Notable gainers in the automotive parts sector included: - Tieliu Co. (603926) with a closing price of 22.21, up 10.00% and a trading volume of 143,900 shares, totaling 312 million yuan [1] - Shanzi Gaoke (000981) closed at 5.42, up 6.69% with a trading volume of 15,167,200 shares [1] - Riying Electronics (603286) closed at 81.81, up 5.78% with a trading volume of 147,600 shares [1] - Other significant gainers included ST Bailing (002592), Dongli Xinke (600841), and Shanghai Yanpu (605128) with respective increases of 5.01%, 4.96%, and 4.56% [1] Capital Flow - The automotive parts sector saw a net outflow of 3.849 billion yuan from institutional investors, while retail investors contributed a net inflow of 3.251 billion yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Key stocks with significant capital flow included: - Shanzi Gaoke (000981) with a net inflow of 444 million yuan from retail investors, but a net outflow of 171 million yuan from institutional investors [3] - Top Group (601689) had a net inflow of 136 million yuan from retail investors, despite a net outflow of 242 million yuan from institutional investors [3] - Huamao Technology (603306) saw a net inflow of 87.447 million yuan from institutional investors, while retail investors experienced a net outflow of 95.046 million yuan [3]

Core Insights - The main focus of the news is on the significant inflow of capital into various stocks, highlighting the top 20 stocks with the highest capital inflow as of January 20, with specific amounts listed for each company [1][2][3] Group 1: Stock Performance - China Power Construction saw a capital inflow of 690 million yuan with a price increase of 6.85% [2] - Shanghai Electric experienced a capital inflow of 624 million yuan and a price increase of 8.22% [2] - Contemporary Amperex Technology reported a capital inflow of 509 million yuan with a modest price increase of 0.34% [2] - China Duty Free Group had a capital inflow of 460 million yuan and a price increase of 2.74% [2] - Sanzi Gaoke recorded a capital inflow of 441 million yuan with a price increase of 6.1% [2] Group 2: Industry Insights - The engineering sector, represented by China Power Construction, is showing strong investor interest with significant capital inflow [2] - The electric power industry, highlighted by Shanghai Electric, is also attracting substantial investments [2] - The battery industry, represented by Contemporary Amperex Technology, is experiencing steady capital inflow despite a small price increase [2] - The tourism and liquor sector, represented by China Duty Free Group, is seeing positive capital movement [2] - The automotive parts sector, represented by Sanzi Gaoke, is gaining traction with notable capital inflow [2]