Core Viewpoint - The A-share market is experiencing volatility and decline, particularly in the oil and gas sector, with significant net inflows into the oil and gas ETF Huatai-PineBridge (159309) despite the downturn [1][3]. Group 1: Market Performance - As of 13:22, the oil and gas ETF Huatai-PineBridge (159309) has dropped over 4%, with a net inflow of more than 106 million yuan during the day, marking a total of over 500 million yuan in inflows over the past 15 days [1]. - Major component stocks of the oil and gas ETF have mostly retreated, with Intercontinental Oil and Gas down over 9%, and China National Offshore Oil Corporation and China Petroleum down over 4% [3]. Group 2: Component Stocks - The top ten component stocks of the oil and gas ETF include: - Jerry Holdings (002353) up 1.71% - CNOOC (601857) down 3.54% - China Petroleum (600028) down 1.54% - Intercontinental Oil and Gas (600759) down 9.91% [4]. Group 3: Geopolitical and Supply Factors - Geopolitical risks have eased, with the U.S. indicating a positive relationship with Venezuela, potentially sharing oil revenues, and ongoing negotiations with Iran [5]. - OPEC+ members have agreed to maintain their production cut policies, with a commitment to market stability and low inventory levels [5]. Group 4: Industry Outlook - The medium to long-term outlook for the oil and gas industry remains positive, with expected exploration and development spending to maintain historical median levels from 2024 to 2030 [7]. - Key variables affecting the market include North American data center construction progress, OPEC+ production policies, and domestic policies on refining capacity [7]. Group 5: ETF Characteristics - The oil and gas ETF Huatai-PineBridge (159309) focuses on the oil and gas industry chain, including exploration, equipment, refining, and sales, emphasizing companies with quality reserves and low-cost advantages [8]. - The ETF has a streamlined sample size of 44 stocks, ensuring high purity with all top ten component stocks being leading oil and gas companies [8].

新京报贝壳财经讯2月1日，杰瑞股份（002353）发布公告称，公司全资子公司GenSystems Power Solutions LLC与美国某客户签署了燃气轮机发电机组销售合同，合同金额1.82亿美元(约合12.65亿元人 民币)，交付期限为30个月。这是公司自2025年11月以来与美国客户签署的第四份同类合同，交易对手 方为近期合作的第三家美国客户。本次销售的燃气轮机发电机组，将应用于数据中心供电领域。 ...

Group 1 - The Energy ETF Guangfa (159945) opened down 5.00%, trading at 1.253 yuan [1] - Major holdings in the Energy ETF Guangfa include China Shenhua down 0.67%, China Petroleum down 2.90%, China Petrochemical down 1.69%, Shaanxi Coal and Chemical down 1.66%, China National Offshore Oil down 4.70%, and others showing varied performance [1] - The performance benchmark for the Energy ETF Guangfa is the CSI All Share Energy Index, managed by Guangfa Fund Management Co., with a return of 31.88% since its inception on June 25, 2015, and a return of 11.60% over the past month [1]

油气ETF汇添富（159309）业绩比较基准为中证油气资源指数收益率，管理人为汇添富基金管理股份有 限公司，基金经理为晏阳，成立（2024-05-31）以来回报为38.77%，近一个月回报为20.14%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月2日，油气ETF汇添富（159309）开盘跌3.54%，报1.336元。油气ETF汇添富（159309）重仓股方 面，中国石油开盘跌2.90%，中国海油跌4.70%，中国石化跌1.69%，杰瑞股份涨6.74%，招商轮船跌 0.53%，广汇能源跌2.32%，中远海能跌0.95%，洲际油气跌9.91%，海油工程跌3.60%，招商南油跌 2.44%。 来源：新浪基金∞工作室 ...

Group 1 - Oil and gas assets have performed well due to geopolitical tensions and extreme weather, with international oil prices significantly rising; WTI crude futures increased by 6.78% and Brent crude futures by 7.30% [1] - A rare winter storm in the U.S. Gulf Coast temporarily reduced crude oil production by approximately 2 million barrels per day, reinforcing expectations of short-term supply tightening and driving oil prices higher [1] - The National Bureau of Statistics reported that as of January 20, 2026, the price of liquefied petroleum gas (LPG) in circulation rose by 1.18% month-on-month, reaching 4482.2 yuan/ton, the highest since late September 2025 [1] Group 2 - The Huatai-PineBridge Oil and Gas ETF (561570) tracks the CSI Oil and Gas Industry Index, which includes 60 fundamentally strong A-share companies across various segments of the oil and gas industry, providing a convenient tool for investors to access the overall opportunities in the sector [2] - The ETF has attracted significant attention with continuous net inflows for six consecutive trading days, accumulating over 86 million yuan, and the average daily trading volume exceeding 33 million yuan, significantly higher than the levels seen in 2025 [2] - The fund manager, Huatai-PineBridge, is one of the first ETF managers in China, with a strong track record, and offers competitive fee structures to help investors minimize costs [2]

Core Viewpoint - The company, Jerry Holdings (002353.SZ), is accelerating its "second growth curve" amid the global energy transition and computing power explosion, highlighted by a recent $181.5 million gas turbine generator sales contract in North America [1][5]. Group 1: Contract Achievements - Jerry Holdings signed its fourth gas turbine generator sales contract in North America since November 2025, marking a significant expansion in its high-end power market presence [1][5]. - The recent contract, valued at $181.5 million (approximately 1.265 billion RMB), is part of a series of successful orders driven by the urgent demand for power supply in global data centers [5][6]. - The company previously announced a $106 million (approximately 742 million RMB) contract with another U.S. client, indicating a strong order acquisition rhythm [5][6]. Group 2: Product and Market Fit - The company's gas turbine generator products are designed with modularity, allowing for quick assembly and flexible deployment, which addresses the specific power supply needs of data centers [1][5]. - The gas turbine generators are tailored for high-load, high-reliability, and low-emission power scenarios, making them suitable for the growing AI computing power demands [5][6]. Group 3: Supply Chain and Production Capacity - Jerry Holdings has established long-term partnerships with major gas turbine manufacturers like Siemens and Baker Hughes, enhancing its supply chain resilience [6]. - The company is expanding its production capacity in the U.S. and increasing local hiring to meet the rising demand for gas turbine generators [7][8]. Group 4: Future Outlook - The company plans to continue focusing on three key areas: data centers, industrial energy, and new power systems, aiming to enhance technological innovation and product delivery capabilities [8].

杰瑞股份 20260201 摘要 杰瑞股份新增订单预计在 2027-2028 年交付，贡献净利润 3-4 亿元人 民币，进一步增强了公司未来业绩的确定性，并提升了市场对其市值底 部的预期。 北美电力需求非线性增长与老化基础设施不匹配导致严重缺电，数据中 心建设集中加剧区域性短缺，天然气发电因其可靠性和增速成为最具潜 力的解决方案。 美国数据中心为解决供电问题倾向于自建电源，其中主电源市场空间更 大，新建数据中心 90%以上选择"电网+自备燃气轮机或燃气内燃机" 方式，燃气轮机因综合成本低、建设周期短和环保性能好而最具竞争力。 天然气发电在美国具有成本优势，得益于成熟的页岩气开采技术，且相 比风光储能更稳定，前期投资成本低于核能和地热，使其在快速发电竞 争中更具优势。 燃气轮机在天然气设备中优势明显，SOFC 商业化程度低，内燃机效率 较低，而燃气轮机效率高且应用广泛，尤其是在 AI 驱动的新需求下，各 类规模用途均展现出极高价值潜力。 Q&A 美国燃气轮机市场面临产能分配和供应链扩张挑战，中国燃气轮机产业 链公司迎来发展机遇，杰瑞股份、应流股份和联德凭借各自优势在市场 中占据重要地位。 杰瑞股份未来发展依赖于 ...

Core Viewpoint - The company, Jereh Group, is accelerating its "second growth curve" by successfully signing a significant gas turbine generator sales contract worth $181.5 million (approximately 1.265 billion RMB) with a U.S. client, marking its fourth such contract in North America since November 2025 [1][4]. Group 1: Contract Details - The recent contract is valued at $181.5 million, making it the fourth gas turbine generator sales contract signed with U.S. clients since November 2025 [4]. - The company had previously announced a $106 million (approximately 742 million RMB) sales contract on January 14, which was a repeat order from the same client, bringing the total contract value with that client to $212 million, accounting for 11.11% of the company's audited revenue for 2024 [4]. Group 2: Market Demand and Product Features - The surge in orders is driven by the urgent demand for power supply in global data centers, particularly due to the explosive growth in AI computing power [4]. - The gas turbine generator sets are designed for data center power supply, featuring a modular design that allows for quick assembly, flexible relocation, and reduced nitrogen oxide emissions, meeting the high-load, high-reliability, and low-emission requirements of data centers [5]. Group 3: Supply Chain and Production Capacity - The company has established long-term partnerships with major gas turbine manufacturers such as Siemens, Baker Hughes, and Kawasaki Heavy Industries, enhancing its supply chain resilience [5]. - Jereh Group is expanding its production capacity in the U.S. and increasing local hiring to strengthen its supply chain and delivery response speed [6][7]. Group 4: Delivery Timeline and Risks - The delivery timeline for the recent contract has been extended to 30 months, which introduces uncertainties in revenue recognition and execution due to potential macroeconomic changes and currency fluctuations [6]. - To mitigate risks associated with the long delivery period, the company has implemented strict payment terms, requiring a percentage of prepayment and full payment before equipment delivery [6].

Group 1 - The China Securities 500 Growth ETF (562340) opened down 1.00% at 1.388 yuan [1] - Major stocks in the ETF include Giant Network up 1.55%, Western Mining down 10.00%, Tianshan Aluminum down 7.27%, and Xiamen Tungsten down 4.99% [1] - The ETF's performance benchmark is the return of the CSI 500 Quality Growth Index multiplied by 100% [1] Group 2 - The fund is managed by Yinhua Fund Management Co., Ltd., with Zhang Yichi as the fund manager [1] - Since its establishment on April 25, 2024, the fund has returned 40.67%, with a return of 9.44% over the past month [1]

Hot Topics - Jia Mei Packaging's stock trading suspension review has concluded, and the stock will resume trading tomorrow [1] - Fenglong Co., Ltd.'s stock trading suspension review has concluded, and the stock will resume trading tomorrow [2] - Hongbaoli does not produce epoxy propylene products, and its subsidiary's related project has entered the preliminary preparation stage for trial production [2] - Hunan Gold's future market price for gold products has uncertainty regarding whether it can continue to rise or maintain high levels [2] - Tongding Interconnection's current operating conditions are normal, with no significant changes in the internal and external operating environment [3] - Tiandi Online's recent operating conditions and internal and external operating environment show no significant changes [4] - Dayue City reports no significant changes in its recent operating conditions and internal and external environment [5] - Huangtai Liquor Industry is not involved in hot concept matters, and its current operating conditions are normal [6] Performance - Leshan Electric Power reported a net profit of 23.4023 million yuan for 2025, an increase of 3.68% year-on-year [7] - Great Wall Motors sold 90,300 vehicles in January, a year-on-year increase of 11.59% [8] - Seres sold 45,900 vehicles in January, a year-on-year increase of 104.85% [9] - GAC Group sold 116,600 vehicles in January, a year-on-year increase of 18.47% [10] - BAIC Blue Valley's subsidiary sold 8,073 vehicles in January, a year-on-year increase of 11.83% [11] Shareholding Changes - Chipone Technology's shareholders plan to reduce their holdings by no more than 1.95% of the company's shares [30] Share Buybacks - Chuzhou Dongfeng's controlling shareholder proposed to repurchase shares worth 50 million to 100 million yuan [31] - GoerTek has increased the total amount for share repurchase from no less than 500 million yuan (inclusive) and no more than 1 billion yuan (inclusive) to no less than 1 billion yuan (inclusive) and no more than 1.5 billion yuan (inclusive) [31] Contract Awards - Jerry Holdings' wholly-owned subsidiary signed a sales contract for gas turbine generator sets worth approximately 1.265 billion yuan with a U.S. client [32] - Fulongma is expected to win four sanitation service projects in January, with a total first-year service fee of 83.5364 million yuan [34] Equity Changes - Yanzhou Coal Mining is transferring 100% equity of Xintai Coal [33] Mergers and Acquisitions - BGI Genomics plans to acquire 100% equity of Sanjian Qifa and 100% equity of BGI Xufeng to integrate two cutting-edge technology platforms in spatial omics and nanopore sequencing [34] Refinancing - Sanjia Technology (rights protection) plans to issue shares to its controlling shareholder to raise no more than 300 million yuan for working capital and repaying bank loans [35] Other - Fushikong's actual controller, chairman, and general manager Chen Yongliang has been placed under detention [36] - China Mobile's VAT tax category adjustment will change the applicable VAT rate from 6% to 9% [37] - China Telecom's VAT tax category adjustment will impact the company's revenue and profits [38] - China Unicom's VAT tax category adjustment will change the applicable VAT rate from 6% to 9% [39] - Nanwang Energy's price policy adjustment for pumped storage and new energy storage will increase uncertainty in revenue and profits from pumped storage power stations [39] - Wanbangde has completed the enrollment of 100 subjects for the clinical trials of Shishan Jianjia controlled-release tablets phases II and III [39] - Penghui Energy has submitted an application for issuing H-shares and listing on the Hong Kong Stock Exchange [40] - Haichuang Pharmaceutical has passed the GMP compliance inspection for drugs [41]