来源：新浪证券-红岸工作室 1月8日，弘业期货涨0.00%，成交额1.05亿元，换手率1.29%，总市值107.63亿元。 异动分析 期货概念+创投+国企改革 1、弘业期货股份有限公司主要从事商品期货经纪、金融期货经纪、期货投资咨询、资产管理、基金销 售、金融资产投资业务。是期货行业首家A+H股上市公司。 2、公司认缴弘瑞新时代创业投资有限公司，出资金额 2,200 万元，持股比例为 22%。弘瑞新时代的主 要经营地为江苏省南京市，主营业务为创业投资和管理咨询。 3、公司属于国有企业。公司的最终控制人为江苏省政府国有资产监督管理委员会。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 弘业期货所属申万行业为：非银金融-多元金融-期货。所属概念板块包括：期货概念、QFII持股、江苏 国资、H股、中盘等。 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额7436.93万，占总成交额的2.89%。 技术面：筹码平均交易成本为11.23元 该股筹码平均交易成本为11.23元，近期该股获筹码青睐，且集中度渐增；目前股价靠近压力位10.69， 谨防压力位处回调，若突破压力位则可能会开 ...

铁水产量回升，盘面高位震荡 铁矿石周报 20260106 供应：外矿方面，12月29日-1月4日，全球铁矿石发运总量3213.7万吨，环比减少463.4万吨；澳洲发运量1939.6万吨，环比减 少174.1万吨；巴西发运量792.5万吨，环比减少151.5万吨，非主流矿发运量1029万吨，环比减少191.1万吨。中国45港到港总 量2756.4万吨，环比增加155万吨。内矿方面，截至12月31日，全国186家矿山铁精粉日均产量43.33万吨，环比降0.06万吨， 产能利用率55.45%，环比降0.08%；矿山精粉库存84.52万吨，环比降0.95万吨。 需求：12月31日当周，日均铁水产量227.43万吨，环比+0.85万吨。钢厂产量指标限制结束，部分钢厂高炉复产，铁水产量回 升，对矿价有所支撑。 库存：本期进口矿库存延续增加，在港船舶数量增加2艘至105艘。本期压港小幅增加，到港维持高位，港口库存延续累库，维 持高位水平，而钢厂库存低位小幅增加，冬储补库预期仍存支撑。 基差：05、09合约基差小幅回升。 利润：钢厂盈利率小幅回升，进口矿价在100-105美元/吨区间震荡。 总结：本期全球发运环比季节性回落， ...

公司名稱: 蘇豪弘業期貨股份有限公司 呈交日期: 2026年1月6日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03678 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 249,700,000 | RMB | | 1 RMB | | 249,700,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 249,700,000 | RMB | | 1 RMB | | 249,700,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | ...

Core Viewpoint - 弘业期货 has shown a significant increase in stock price and trading volume, indicating potential investor interest and market activity [1] Company Overview - 弘业期货 is primarily engaged in commodity futures brokerage, financial futures brokerage, futures investment consulting, asset management, fund sales, and financial asset investment [2][7] - The company is the first A+H share listed company in the futures industry and is controlled by the Jiangsu Provincial Government State-owned Assets Supervision and Administration Commission [3][7] Financial Performance - For the period from January to September 2025, 弘业期货 reported operating revenue of 462 million yuan, a year-on-year decrease of 76.77%, and a net profit attributable to shareholders of 2.09 million yuan, down 87.27% year-on-year [7] - The company has distributed a total of 44.34 million yuan in dividends since its A-share listing, with 14.11 million yuan distributed over the past three years [8] Shareholder Structure - As of September 30, 2025, 弘业期货 had 54,400 shareholders, a decrease of 13.10% from the previous period [7] - Major shareholders include Hong Kong Central Clearing Limited and Southern CSI 1000 ETF, with notable changes in their holdings [8] Market Activity - The stock experienced a net inflow of 19.6 million yuan today, with a trading volume of 2.28 billion yuan and a turnover rate of 2.76% [1][4] - The average trading cost of the stock is 11.24 yuan, with the current price near a support level of 10.83 yuan [6]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The industrial silicon market is currently in a state of weak supply and demand, with high inventories and strong cost support at the bottom. The market is expected to maintain a volatile trend in the short term. Attention should be paid to the changes in the northern operating rate [2]. - The polysilicon market also shows weak supply and demand, with inventory pressure still existing. However, due to strong price support in the market and downstream market games, it is expected to remain volatile at a high level in the short term [3]. 3. Summary of Relevant Catalogs Industrial Silicon - **Price**: As of January 4, 2026, the price of Xinjiang industrial silicon 553 oxygen - passed was 8,800 yuan/ton, unchanged from last week. The price of Xinjiang industrial silicon 421 oxygen - passed was 9,050 yuan/ton, also unchanged from last week. The main contract of industrial silicon futures fluctuated at a low level, closing at 8,860 yuan/ton on December 31 [2][7]. - **Supply**: In early January, some production capacities in Xinjiang were cut, and the output decreased month - on - month. The operating rate in Yunnan remained stable, and that in Sichuan slightly decreased. Overall, the output of industrial silicon continued to decline month - on - month [2][16]. - **Demand**: The weekly operating rate of polysilicon was basically stable, and the output in December increased slightly month - on - month. In January, some enterprises planned to reduce the load or production, and the scheduled production was expected to decline. The output change of organic silicon was limited, and there was still a possibility of decline under the background of emission reduction and price support. The operating rate of aluminum alloy enterprises was basically stable. In November, the export of industrial silicon was 54,900 tons, a month - on - month increase of 22% and a year - on - year increase of 4% [2]. - **Cost**: The cost of industrial silicon remained stable this week [2]. - **Inventory**: As of December 31, the total social inventory of industrial silicon in the country was 557,000 tons, an increase of 2,000 tons from last week [2]. - **Price Difference**: As of January 4, 2026, the price difference between Yunnan industrial silicon 553 oxygen - passed and 421 oxygen - passed was 400 yuan/ton, unchanged from last week. The price difference between Xinjiang industrial silicon 553 oxygen - passed and 421 oxygen - passed was 250 yuan/ton, also unchanged from last week [11]. Polysilicon - **Price**: As of January 4, 2026, the price of N - type dense material was 50,000 yuan/ton, unchanged from last week. The main contract of polysilicon futures fluctuated and corrected at a high level, closing at 57,920 yuan/ton on December 31 [3][14]. - **Supply**: The expected output of polysilicon in December was 114,500 tons. In January, a small number of enterprises planned to reduce the load or production, and the scheduled production was expected to decline month - on - month [3]. - **Demand**: Recently, there was an obvious game in the polysilicon market, with more inquiries from downstream. Under the influence of the establishment of the polysilicon production capacity integration platform and the expected sales restriction in January, leading enterprises strongly supported the price. Downstream silicon wafer enterprises increased the production reduction intensity, and maintained rigid demand procurement in the short term. Enterprises with low inventory increased the procurement intensity. In November, the import volume of polysilicon was 1,055.1 tons, a month - on - month decrease of 27%; the export volume was 3,230.1 tons, a month - on - month increase of 109% [3]. - **Cost**: The cost of polysilicon remained stable this week [3]. - **Inventory**: As of January 2, the factory inventory of polysilicon was 287,800 tons, a decrease of 18,000 tons from last week [3][22]. Downstream Products - **Silicon Wafer**: As of January 4, 2026, the average prices of N - type M10 - 182(130µm), N - type G10L - 183.75(130µm), N - type G12R - 210R(130µm), and N - type G12 - 210(130µm) were 1.375, 1.375, 1.475, and 1.65 yuan/piece respectively, a week - on - week increase of 0.05, 0.05, 0.075, and 0.05 yuan/piece respectively. The price of the silicon wafer market strengthened, and the transaction increased significantly compared with the previous period [26]. - **Battery Chip**: As of January 4, 2026, M10 single - crystal TOPCon, G10L single - crystal TOPCon, G12R single - crystal TOPCon, and G12 single - crystal TOPCon were quoted at 0.38 yuan/watt respectively, a week - on - week increase of 0.03 yuan/watt. The battery chips were strongly pulled up by cost drivers [30]. - **Component**: As of January 4, 2026, 182 single - sided TOPCon, 210 single - sided TOPCon, 182 double - sided TOPCon, and 210 double - sided TOPCon were quoted at 0.685, 0.705, 0.685, and 0.705 yuan/watt respectively, unchanged from last week. The cost of components increased, and enterprises successively raised their quotes, but the overall transaction was weak in the off - season at the end of the year, showing a situation of high prices but few transactions [33]. Organic Silicon - **Price and Operation**: As of January 4, 2026, the price of organic silicon DMC in East China was 13,700 yuan/ton, unchanged from last week. The offers of mainstream monomer factories of organic silicon remained stable. The raw material inventories of some downstream silicone rubber and silicone oil enterprises were gradually consumed, and the inquiry and procurement increased. The operating rate change was not large in January, and it was expected to weaken [35][37]. Aluminum Alloy - **Price and Operation**: As of December 31, 2025, the price of Shanghai aluminum alloy ingot ADC12 was 22,000 yuan/ton, a week - on - week increase of 400 yuan/ton. The operating rate of aluminum alloy enterprises was stable, and they purchased at low prices as needed [41].

钢材产量增加，钢价震荡运行 钢材周报 20250105 周贵升 从业资格证：F3036194 投资咨询证：Z0015986 段怡雯 从业资格证：F03131526 成材：钢材产量增加，钢价震荡运行 （1）供给：钢厂复产，供应增加。全国主要钢厂螺纹钢当周产量为188.22万吨（+3.83），热轧当周产量为304.51万吨（+10.97）。 （2） 需求：螺纹需求季节性偏弱，热卷需求回升。上周螺纹表观需求为200.44万吨（-2.24），热轧表观需求310.77万吨(+3.73）。 螺纹钢总库存422.03万吨(-12.22），社会库存282.66万吨(-11.53)，钢厂库存139.37万吨(-0.69); 热轧总库存370.96万吨(-6.26),社会库存288.64万吨(-8.06)，钢厂库存82.32万吨(+1.8)。 （4）基差：截至12月31日，螺纹主力合约基差178元/吨（+6），热轧主力合约基差0元/吨（+13）。 （5）总结： 钢厂盈利率上升至38.1%，钢厂利润有所修复; 铁水产量227.43万吨，环比增加0.85万吨。 高炉开工率78.94%，环比上升0.62%，高炉产能利用率85.26%， ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Holly Futures （ 於中華人民共和國註冊成立的股份有限公司 ， 中文公司名稱蘇豪弘業期貨股 份有限公司 ， 在香港 以 Holly Futures 的名義開展業務 ） ( 「 本 公 司 」 ) （股 份 代 號：3678） 海外監管公告 蘇豪弘業期貨股份有限公司 第五屆董事會第九次會議決議公告 本公告乃本公司根據香港聯合交易所有限公司證券上市規則第13.10B條而作 出。 茲 載 列 本 公 司 於 深 圳 證 券 交 易 所 網 站 刊 發 之《蘇 豪 弘 業 期 貨 股 份 有 限 公 司 第 五 屆 董 事 會 第 九 次 會 議 決 議 公 告》，僅 供 參 閱。 承董事會命 董事長兼執行董事 儲開榮先生 中國南京 2025年12月31日 第五届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整 ...

苏豪弘业期货股份有限公司 第五届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 证券代码：001236 证券简称：弘业期货 公告编号：2025-062 一、董事会会议召开情况 苏豪弘业期货股份有限公司（以下简称"本公司"或"公司"）于2025年12月31日在 公司会议室以现场结合通讯会议方式召开第五届董事会第九次会议。提议召开本次会议的 通知已于2025年12月31日以电子邮件方式发出，全体董事一致同意豁免本次会议通知时限。 会议由董事长储开荣先生主持，本次会议应出席董事8人，实际出席8人，通讯出席5人 （薛炳海先生、蒋海英女士、卢华威先生、黄德春先生及张洪发先生以通讯方式参加会 议），部分高管列席会议。会议召开符合《中华人民共和国公司法》《深圳证券交易所股 票上市规则》等有关法律法规和《苏豪弘业期货股份有限公司章程》（以下简称"《公司 章程》"）的规定。 二、董事会会议审议情况 同意票7票，反对票0票，弃权票0票，回避票1票。关联董事赵伟雄先生回避表决。 （二）会议审议通过了《弘业期货经理层成员任期制契约化2024年度考核结果兑现细 ...

Core Insights - The A-share market in 2025 closed positively, with major indices showing significant gains, and brokerage "golden stock" portfolios delivering impressive results [1] - The top ten brokerage golden stock portfolios achieved returns exceeding 50%, with the highest being Guoyuan Securities at 84.08% [1][5] Brokerage Performance - Guoyuan Securities led with a return of 84.08%, with its best stock being Zhongtung Gaoxin [2][5] - Northeast Securities ranked second with a return of 68.38%, highlighting its best stock as Wukuang Resources [2][6] - Other notable performers include Kaiyuan Securities (67.1%), Huaxin Securities (62.23%), and Dongxing Securities (61.98%) [2] Stock Selection Strategies - Guoyuan Securities focuses on selecting stocks based on China's new economic growth drivers and emerging industries, aiming to identify companies with strong fundamentals and market expectations [5] - Northeast Securities employs a collaborative approach with nearly 30 teams contributing to stock recommendations, emphasizing technology and cyclical sectors [6][7] - Dongguan Securities utilizes a systematic research framework that integrates macroeconomic analysis with industry insights to select high-quality stocks [8] Research Methodologies - Huazhong Securities emphasizes a dual approach, combining top-down macroeconomic analysis with bottom-up stock selection to identify high-potential sectors and individual stocks [9] - The overall performance of brokerage golden stock portfolios in 2025 significantly outperformed previous years, with the lowest return among the top 20 brokerages nearing 40% [5]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Holly Futures 蘇豪弘業期貨股份有限公司 投資者關係活動記錄表 本公告乃本公司根據香港聯合交易所有限公司證券上市規則第13.10B條而作 出。 茲 載 列 本 公 司 於 深 圳 證 券 交 易 所 網 站 刊 發 之《蘇 豪 弘 業 期 貨 股 份 有 限 公 司 投 資 者 關 係 活 動 記 錄 表》，僅 供 參 閱。 承董事會命 董事長兼執行董事 儲開榮先生 中國南京 2025年12月31日 於 本 公 告 日 期，董 事 會 成 員 包 括 執 行 董 事 儲 開 榮 先 生 及 趙 偉 雄 先 生；非 執 行 董 事 薛 炳 海 先 生 及 蔣 海 英 女 士；獨 立 非 執 行 董 事 黃 德 春 先 生、盧 華 威 先 生 及 張 洪 發 先 生；以 及 職 工 董 事 陳 克 先 生。 证券代码：001236 证券简称 ...