Market Overview - On January 26, the A-share market experienced fluctuations, with the Shenzhen Composite Index and the ChiNext Index opening high but closing lower, both dropping over 1% during the day. The Shanghai Composite Index fell by 0.09%, the Shenzhen Composite Index by 0.85%, and the ChiNext Index by 0.91%. The total market turnover reached 3.28 trillion yuan, an increase of 162.5 billion yuan compared to the previous trading day, with over 3,700 stocks declining [1]. Precious Metals Sector - The precious metals sector led the market gains, with Sichuan Gold (001337) achieving four consecutive trading limits in eight days. Other stocks such as Xiaocheng Technology (300139), Hunan Gold (002155), and Shengda Resources (000603) also hit the daily limit, while Zijin Mining (601899) reached a historical high [1]. - On January 26, spot gold prices surpassed $5,100 per ounce, peaking at $5,110.26 per ounce. Silver prices also surged, with spot silver reaching a high of $109.453 per ounce, marking an increase of over 51% in just 17 trading days [3]. Investment Demand and Market Trends - The rising gold prices have significantly boosted market demand for gold investment and reserves, leading to a surge in bank safe deposit box rentals. For instance, at the Shenzhen branch of China Merchants Bank, all 8,000 safe deposit boxes are fully rented, with 500 to 600 customers waiting to rent a box. Given the annual turnover of only 20 to 30 boxes, new customers may have to wait 5 to 6 years [3]. - The A-share flu vaccine sector also showed strength, with stocks like Da'an Gene (002030), Hualan Biological (301207), and Zhijiang Biology hitting the daily limit, while Yongshun Biological surged over 27% [3]. Other Sector Movements - The oil and gas sector saw continued strength, with China National Offshore Oil Corporation (600938) reaching a historical high, and other companies like Zhongjie Oil and China Petroleum rising over 5% [6]. - The Tencent Cloud concept experienced localized movements, with stocks like Qunxing Toys (002575) hitting the daily limit and others like Ruijie Networks (301165) rising over 10% following Tencent's announcement of a new AI assistant app [7].

Market Overview - The A-share market experienced fluctuations on January 26, with the Shenzhen Component Index and the ChiNext Index both declining over 1% during the day. The Shanghai Composite Index closed down 0.09%, the Shenzhen Component Index down 0.85%, and the ChiNext Index down 0.91% [1][2] - The total market turnover reached 3.28 trillion yuan, an increase of 162.5 billion yuan compared to the previous trading day, with over 3,700 stocks declining [1][2] Gold and Precious Metals - Gold prices surged, breaking the 5,100 USD/oz mark for the first time, reaching a high of 5,110.26 USD/oz. Silver also saw significant gains, with prices peaking at 109.453 USD/oz, marking an increase of over 51% in just 17 trading days [4][9] - The rising gold prices have led to a substantial increase in market demand for gold investment and storage, resulting in a booming demand for bank safe deposit boxes. For instance, at the Shenzhen branch of China Merchants Bank, all 8,000 safe deposit boxes are fully rented, with 500 to 600 customers waiting to rent a box, which could take 5 to 6 years based on the current turnover rate [4][9] Vaccine Sector - The flu vaccine sector saw a strong performance, with stocks such as Da An Gene, Hualan Biological Engineering, and Zhijiang Biological all hitting the daily limit. Yongshun Biological surged over 27%, while other companies like Oriental Bio and Zhongsheng Pharmaceutical also experienced gains [4][5] - The vaccine index rose by 6.79%, indicating a positive trend in the sector [5] Oil and Gas Sector - The oil and gas sector showed strength, with China National Offshore Oil Corporation reaching a historical high. Other companies like Intercontinental Oil and China Petroleum saw increases of over 5% [7] - The space photovoltaic sector also remained active, with stocks like Mingyang Smart Energy and Tuojin New Energy hitting the daily limit [7] Tencent Cloud and AI Applications - Tencent's cloud concept saw some activity, with stocks like Qunxing Toys hitting the daily limit and Ruijie Networks rising over 10%. Tencent announced the launch of a cash red envelope event for its AI assistant app, which is expected to drive engagement [7]

转自：智通财经 【1月26日涨停分析】智通财经1月26日电，今日全市场共70股涨停，连板股总数15只，40股封板未遂， 封板率为64%（不含ST股、退市股）。焦点股方面，贵金属板块白银有色5连板、四川黄金8天4板，商 业航天概念股九鼎新材9天5板、瑞华泰科创板2连板，并购重组的明阳智能3连板。 ...

Market Overview - The Shanghai Composite Index experienced a slight decline of 0.09% while the Shenzhen Component Index and the ChiNext Index fell by 0.85% and 0.91% respectively [1] - The total market turnover reached 3.28 trillion yuan, with over 1,600 stocks rising [1] Sector Performance - The gold sector showed strong performance, with multiple stocks such as Hunan Gold, Shengda Resources, Sichuan Gold, and China Gold hitting the daily limit [1] - Resource sectors including oil, coal, and gas were active, with stocks like Heshun Petroleum and Intercontinental Oil & Gas also reaching the daily limit [1] - The virus prevention sector saw a surge, with stocks like Maike Biology, Cape Biology, Zhijiang Biology, and Hualan Vaccine hitting the daily limit [1] Declining Sectors - Sectors such as electric motors, automotive parts, semiconductors, communication equipment, satellite internet, robotic actuators, and commercial aerospace experienced declines [1] - The overall market showed a mixed performance with certain sectors like mining, small metals, non-ferrous metals, insurance, fertilizers, securities, and titanium dioxide showing gains [1]

国内市场，黄金概念股1月26日开盘冲高，湖南黄金（002155.SZ）、四川黄金（001337.SZ）、招金黄 金（000506.SZ）、湖南白银（002716.SZ）等纷纷涨停。 南华期货贵金属新能源研究组负责人夏莹莹对第一财经分析称，黄金强势突破5000关口，是短期避险需 求、中期政策预期、长期货币信用重构三重逻辑共振的结果。预计2026年金价或有望挑战6000美元关 口。当前金价处于高价位、高波动阶段，投资者需做好仓位控制。 金银价格继续"狂飙"。 避险情绪持续升温，金银齐创新高 1月26日，伦敦现货黄金冲破5000美元/盎司，最高触及5093美元，距5100美元/盎司仅一步之遥，距离 其首次突破4000美元关口仅过去100多天。伦敦现货白银更是一举升破109美元/盎司，再度创下历史新 高。 全球地缘不确定性加剧，贵金属价格也在多重利好支撑下继续上涨。 Wind数据显示，截至北京时间1月26日12：00，伦敦现货黄金报5076.53美元/盎司，最高触及5093.19美 元/盎司；COMEX黄金期货同步走强，报5076.2美元/盎司，最高至5091.5美元/盎司。 白银方面，伦敦现货白银报108.248美 ...

Core Viewpoint - The non-ferrous metal sector is experiencing significant growth, driven by high international gold prices and strong performance from leading companies, making it a focal point for investors in 2026 [1][2]. Group 1: Market Performance - The non-ferrous metal sector has outperformed other sectors, with the MSCI Metals and Mining Index rising nearly 90% since the beginning of 2025, surpassing semiconductor and global banking sectors [2]. - Major companies in the sector, such as Zijin Mining, are expected to report substantial profit increases, with projected net profits for 2025 reaching between 51 billion to 52 billion yuan, reflecting a year-on-year growth of 59% to 62% [2]. Group 2: Fund Inflows and ETF Growth - There has been a remarkable influx of capital into the non-ferrous metal sector, with over 36 billion yuan net inflow into non-gold themed ETFs as of January 22, 2026, pushing the total scale of these ETFs to over 100 billion yuan [3]. - The non-ferrous metal ETF (512400) reached a scale of 40 billion yuan, indicating strong investor interest and positioning in this sector [3]. - Public funds have significantly increased their holdings in the non-ferrous sector, with 15 related fund products reported in a short span from early December 2025 to mid-January 2026, indicating a robust investment trend [3]. Group 3: Geopolitical and Economic Factors - The non-ferrous metal sector is transitioning from traditional cyclical characteristics to a new phase characterized by a combination of safe-haven demand, strategic security, and tight supply-demand balance due to rising geopolitical risks [4]. - The recent surge in gold prices, surpassing 5,000 USD per ounce, and silver prices exceeding 100 USD per ounce, reflects a shift in the global monetary system and increased demand for these metals as safe-haven assets [4][5]. Group 4: Specific Metal Insights - Gold and silver are experiencing a "super cycle" driven by geopolitical conflicts, loss of confidence in the US dollar, and ongoing central bank purchases, making them attractive for investment [5]. - Copper prices are showing resilience due to strong pre-holiday stocking, with supply constraints emerging as copper concentrate treatment charges have dropped to negative values, indicating a tight supply situation [6]. - Aluminum prices are expected to rebound due to low global inventories and strong demand driven by investments in power grids and solar exports, despite slight domestic inventory increases [7]. - The strategic importance of metals like cobalt and lithium is being reaffirmed, with supply concentrated in regions like the Democratic Republic of Congo, highlighting their long-term investment potential [8].

Market Overview - The A-share market opened higher but experienced fluctuations, with the Shanghai Composite Index closing at 4141.01 points, a slight increase of 0.12% [1] - The Shenzhen Component Index fell by 0.74%, and the ChiNext Index dropped by 0.86% [1] Individual Stock Performance - A total of 3756 stocks declined, while 1606 stocks rose, with 50 stocks hitting the daily limit up [2] - The total trading volume in the Shanghai and Shenzhen markets reached 2.24 trillion yuan, an increase of 347.8 billion yuan compared to the previous trading day [2] Sector Performance Precious Metals - The precious metals sector saw significant gains, with stocks such as Hunan Gold (002155) hitting the daily limit up, and others like Jin Hui Shares (603132) and Zhao Jin Gold (000506) also achieving 10% limit up [3][5] - The price of spot gold surpassed $5000 per ounce for the first time, increasing by over 1%, while spot silver rose by over 5% [5] Oil and Gas - The oil and gas sector experienced a rally, with major companies like China Petroleum and China Oil & Gas seeing increases of over 4% [6] - International oil prices surged, with WTI and ICE crude oil both rising by over 3% due to escalating geopolitical tensions [6] Financial Sector - The financial sector showed upward movement, with securities stocks rising, and insurance and banking stocks also performing well [8] - Notable gains were seen in stocks like Caitong Securities (601108) and Xingye Securities, both increasing by over 4% [9] Alcoholic Beverages - The liquor sector faced a downturn, with a decline of over 1%, particularly affected by a significant drop in Yanghe Shares (002304), which fell by over 8% [13] - Yanghe Shares projected a net profit decline of 62.18% to 68.30% for the fiscal year 2025, indicating potential financial distress [14]

人民财讯1月26日电，沪指早间窄幅震荡，深证成指、创业板指走低。截至午间收盘，沪指涨0.12%， 深证成指跌0.74%，创业板指跌0.86%。盘面上，黄金概念持续走强，湖南黄金、盛达资源、四川黄 金、中国黄金等多股涨停；疫苗概念活跃，华兰疫苗20%涨停。此外，采掘、保险、有色金属、石油、 小金属、化肥等板块涨幅居前；航天航空、汽车零部件、游戏、半导体、家用轻工、商业航天、机器人 执行器概念等板块跌幅居前。全市场超1600只个股上涨，上午半天成交超2万亿元。 ...

记者｜黎雨桐 见习记者林芊蔚 编辑｜金珊 1月26日，A股市场早盘冲高回落。截至收盘，沪指涨0.12%，深成指跌0.74%，创业板指跌0.86%。沪深两市半日成交额超2.26万亿， 较上个 | 上证指数 | 深证成指 | 科创综指 | | --- | --- | --- | | 4141.01 | 14332.86 | 1864.01 | | +4.85 +0.12% -106.80 -0.74% -35.77 -1.88% | | | | 万得全A | 创业板指 | 北证50 | | 6857.67 | 3320.81 | 1573.21 | | -35.44 -0.51% -28.70 -0.86% -15.45 -0.97% | | | | 沪深300 | 中证500 | 中证A500 | | 4715.12 | 8522.32 | 5936.21 | | +12.63 +0.27% -67.85 -0.79% +1.10 +0.02% | | | | 中证1000 | 深证100 | 中证红利 | | 8365.64 | 5871.66 | 5654.38 | | -105.10 -1.24% | - ...

从业务布局来看，黄金天岳主要从事万古矿区的矿权整合、勘探，以及部分金矿的采选及销售，主要产 品为金精矿，拥有12宗矿业权，资源储备丰富。2025年实现营收2.21亿元、净利润6454.97万元。 据报道，2024年11月，湖南省地质院在万古金矿田地下2000米以浅发现超40条金矿脉，核心区累计资源 量300.2吨，专家预测其3000米以浅远景储量超1000吨，估值达6000亿元。 1月26日早间，现货黄金历史首次突破5000美元关口，盘中最高涨至每盎司5093.15美元，续创历史新 高。 对此，中信建投证券分析指出，押注美联储鸽派掌门人接班造成的美元信用弱化及地缘冲突风险抬升， 避险配置及央行购金行为延续，强化了贵金属牛市格局。高盛已在最新报告中，将黄金今年底目标价从 每盎司4900美元上调至5400美元。 在黄金格持续狂飙的带动下，A股贵金属板块热度同步攀升。今日早盘，该板块集体高开，湖南黄金涨 停，晓程科技、四川黄金盘中创新高，恒邦股份、湖南白银、中金黄金等纷纷跟涨。 值得一提的是，身处行业景气周期的湖南黄金，还在稳步推进并购扩产计划。 1月25日晚，湖南黄金宣布拟通过发行股份方式收购湖南黄金集团及天岳投 ...