（编辑 王雪儿） 证券日报网讯 1月30日，科达利在互动平台回答投资者提问时表示，公司在建工程款项主要用于机器设 备安装及生产基地建设项目的相关费用，具体情况可查阅公司定期报告中合并财务报表项目注释相关章 节内容。 ...

（编辑 楚丽君） 证券日报网讯 1月30日，科达利在互动平台回答投资者提问时表示，原材料价格上涨对公司会有一定的 影响。公司将通过产能扩充、技术创新、改善产品生产工艺技术以及提高公司管理等方面降低原材料上 涨对公司带来的影响。 ...

华泰柏瑞低碳经济智选混合A（015100）成立日期2022年8月2日，最新规模2.81亿。今年以来收益 4.24%，同类排名5511/8872；近一年收益40.24%，同类排名3159/8126；成立以来亏损35.11%。 华泰柏瑞低碳经济智选混合A（015100）基金经理为赵楠。 截至发稿，赵楠累计任职时间10年265天，现任基金资产总规模4.43亿元，任职期间最佳基金回报 115.8%， 任职期间最差基金回报-37.7%。 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。 责任编辑：小浪快报 1月30日，科达利跌5.03%，截至发稿，报149.58元/股，成交6.68亿元，换手率2.22%，总市值411.26亿 元。 资料显示，深圳市科达利实业股份有限公司位于广东省深圳市南山区科技南路16号深圳湾科技生态园11 栋A座27层，成立日期1996年9月20日，上市日期2017年3月2日，公司主营业务涉及精密结构件研发和 制造业务。主营 ...

晨会纪要 证券研究报告 2026 年 01 月 29 日 核心结论 分析师 【基金】公募 FOF 基金 2025 年 4 季报分析：结构重于指数，科技+周期是 主线 25Q4，公募 FOF 规模上升，百亿基金公司 7 家，易方达跃居规模第一，CR10 降至 60%。新发规模 458.54 亿元，偏债型为主。FOF 正收益比例 49%， 中信建投睿选 6 个月取得 25Q4 业绩之冠。配置上，增持债基、减持股基和 商品型基金。被增持较多的权益基金为中欧红利优享、汇添富外延增长主题 等。整体来看，FOF 基金经理对于后市相对乐观，预计呈现结构性机会，科 技+周期是主线。 【电池】海外电动车主题系列报告（二）：重启与突破：2026 年欧洲电动车 市场迈入新阶段 2025 年供给侧驱动，欧洲强车型周期+中性政策周期步入电动车销量快速修 复阶段，电动车渗透率预计达 29%；2026 年补贴政策加持+产品周期共振， 电动车渗透率有望达 35%，中国锂电产业链抓取欧洲市场崛起机遇，实现竞 争格局的巩固与突破。 【建筑装饰】建筑建材行业专题报告：建筑央企有望受益于国资央企战略性 /专业化重组 当前行业需求承压背景下，大建筑央 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002759 | 天际股份 | 38.07 | -6.30% | 59.71万 | 23.02亿 | | 301349 | 信德新材 | 49.34 | -4.75% | 2.73万 | 1.36亿 | | 002850 | 科达利 | 157.40 | -4.71% | 9.48万 | 14.96 Z | | 002245 | 蔚蓝锂芯 | 17.74 | -4.00% | 64.97万 | 11.62亿 | | 301150 | 中一科技 | 43.91 | -3.87% | 8.99万 | 4.01亿 | | 301325 | 曼恩斯特 | 52.55 | -3.63% | 3.76万 | 1.986 T | | 6688889 | 利元亨 | 61.93 | -3.60% | 5.82万 | 3.62亿 | | 688155 | 先惠技术 | 87.09 | -3.51% | 3.62万 | 3.15亿 | | 688148 | 芳源股份 ...

【环球网财经综合报道】随着2025年基金四季报的密集披露，公募基金的持仓路径图全景式展现在投资者面前。数据 宝最新统计显示，截至去年四季度末，共有2977只股票现身基金重仓股名单。从机构控盘程度来看，基金调仓换股的 动向颇为明显，其中共有107只个股的基金持股比例超过10%，显示出机构资金对这些个股具有极高的话语权和控盘 力。 机构抱团现象在基金高比例持仓股中依然显著。一般而言，基金控盘比例高的个股往往伴随着多家基金扎堆持有。数 据显示，这107只个股中，有100家以上基金扎堆持有的多达42只，50至99家基金集体持有的有29只。值得注意的是， 宁德时代虽然持股比例为11.63%，但持有基金家数最多，高达2056家基金抱团持有。中际旭创、紫金矿业、新易盛的 持有基金家数也均超过1300家，分别达到1809家、1800家和1396家。 从板块分布来看，基金高比例持仓的个股呈现出明显的"硬科技"与"创新"特征。107只个股中，科创板有42只，创业板 有27只，沪深主板有31只，北交所有7只。行业分布上，电子、医药生物、电力设备三大行业成为机构最青睐的领 域，分别有28只、20只、11只个股上榜。这表明在当前的宏观 ...

Core Viewpoint - The report highlights the performance and strategic focus of the Bosera New Energy Theme Mixed A Fund, emphasizing its investment in high-growth and low-penetration sectors within the new energy industry, particularly in electric equipment and solid-state batteries [3][4]. Fund Performance - The fund reported a profit of 440,800 yuan in Q4 2025, with a weighted average profit per share of 0.0022 yuan [3]. - The net asset value (NAV) growth rate for the fund was 0.39% during the reporting period, with a total fund size of 162 million yuan as of the end of Q4 [3][15]. - As of January 22, the fund's unit NAV was 0.872 yuan [3]. Comparative Performance - Over the past three months, the fund's NAV growth rate was 12.65%, ranking 49 out of 100 among comparable funds [4]. - The fund's NAV growth rate over the past six months was 41.54%, ranking 31 out of 100 [4]. - The one-year NAV growth rate was 52.48%, ranking 36 out of 92 [4]. - The three-year NAV growth rate was 10.94%, ranking 31 out of 68 [4]. Risk Metrics - The fund's Sharpe ratio over the past three years was 0.4889, ranking 25 out of 66 among comparable funds [9]. - The maximum drawdown over the past three years was 46.79%, with the highest single-quarter drawdown occurring in Q2 2022 at 22.22% [11]. Investment Strategy - The fund manager indicated an increased allocation to high-growth and low-penetration sectors within the new energy industry, specifically targeting electric equipment exports and upstream lithium battery materials [3]. - The solid-state battery sector is highlighted as a low-penetration area, with expectations for mass production to begin in 2026 and scale deployment in 2027 [3]. Portfolio Composition - As of December 31, the fund's top ten holdings included companies such as CATL, Sungrow Power Supply, and Tianqi Lithium [18]. - The average stock position over the past three years was 86.14%, with a peak of 89.88% at the end of Q1 2023 [14].

Core Viewpoint - The report from Zhonghang Securities indicates a strong recovery in the sales of new energy vehicles (NEVs) in nine European countries, projecting sales of 2.885 million units in 2025, a year-on-year increase of 32.6%, with a penetration rate of 29.0%, up by 6.7 percentage points [1][2]. Summary by Sections Overall Market Outlook - In 2025, NEV sales in nine European countries are expected to reach 2.885 million units, representing a 32.6% increase year-on-year, with a penetration rate of 29.0%, up 6.7 percentage points [2]. - The sales of Battery Electric Vehicles (BEVs) are projected at 1.892 million units, a year-on-year increase of 30.6%, while Plug-in Hybrid Electric Vehicles (PHEVs) are expected to reach 992,000 units, up 36.6% year-on-year [2]. Country-Specific Insights - **Germany**: The BEV sales are projected at 545,000 units, a 43.2% increase year-on-year, and PHEV sales at 311,000 units, up 62.3%. Germany will restart EV subsidies in January 2026, including Chinese brands [2][3]. - **United Kingdom**: BEV sales are expected to be 473,000 units, a 23.9% increase, and PHEV sales at 225,000 units, up 34.7%. EV subsidies will resume from July 2025 [2][3]. - **France**: BEV sales are projected at 326,000 units, a 12.1% increase, with December sales reaching 42,000 units, up 37.7%. Subsidies will continue into 2026 with increased standards [3]. - **Italy**: BEV sales are expected to be 95,000 units, a 44.2% increase, and PHEV sales at 99,000 units, up 89.4%. EV subsidies will be effective from October 22, 2025 [3]. - **Spain**: BEV sales are projected at 102,000 units, a 77.2% increase, and PHEV sales at 124,000 units, up 111.7%. The MOVES III subsidy plan will drive sales [3]. Investment Recommendations - The report suggests that the EU's proposal to adjust the 2035 emission reduction targets will not hinder the long-term trend of electrification in Europe. Instead, it will promote sales of small electric vehicles [4]. - Investment recommendations include: - **Lithium Batteries**: Recommended companies include CATL, Yiwei Lithium Energy, and Xinwangda [4]. - **Lithium Materials**: Recommended companies include Hunan Youneng and Tianci Materials [4]. - **Lithium Battery Structural Components**: Recommended companies include Minglida and Minth Group [4]. - **Power/Drive Systems**: Recommended companies include Weimaisi and Fute Technology [4]. - **Automotive Safety Components**: Beneficiary companies include Zhongrong Electric and Zhejiang Rongtai [4]. - **Charging Stations and Modules**: Recommended companies include Youyou Green Energy and Tonghe Technology [4].

Market Overview - A-share major indices showed a significant rebound this week, with the weekly performance of the indices as follows: CSI 300 at -0.57%, ChiNext 300 at 1.39%, STAR 50 at 2.58%, CSI 500 at 2.18%, CSI 1000 at 1.27%, and the humanoid robot index at 1.48%, with the STAR 50 showing the most notable recovery [1] Recent Events and Highlights - China applied to the International Telecommunication Union (ITU) for frequency resources for over 200,000 satellites, with more than 190,000 satellites coming from the newly established Radio Innovation Institute. Experts are optimistic about the institute's role in integrating industry resources and leveraging China's large market to accelerate its industry to catch up with SpaceX [2] Current Perspectives - The establishment of the humanoid robot and embodied intelligence standardization technical committee by the Ministry of Industry and Information Technology is viewed positively for the humanoid robot industry chain, with related companies including Hengshuai Co., Junpu Intelligent, Anpeilong, Keda Li, Lens Technology, Changying Precision, Sanhua Intelligent Control, Fengmao Co., Top Group, and Wuzhou Xinchun [3] - Guangdong has launched its first provincial-level drone governance system, creating a drone resource pool and a provincial management platform to build a "one network for unified flight" service ecosystem, with related companies including Xindong Link, Wanfeng Aowei, Wolong Electric Drive, and Zongshen Power [3] - The China Academy of Information and Communications Technology's Tair System Laboratory recently issued a liquid cooling capability testing report and certificate to Shenzhen Invech Technology Co., indicating that AI data center construction is expected to drive demand for liquid cooling equipment, with related companies including Invech, Nanfeng Co., Chuanrun Co., and Bojie Co. [3] - China's application to the ITU for over 200,000 satellites coincides with the U.S. Federal Communications Commission granting SpaceX significant authorization to build, deploy, and operate an additional 7,500 second-generation Starlink satellites, with related companies including Superjet Co., Xindong Link, Guoji Precision, and Electric Science Digital [3]

Core Viewpoint - KedaLi's stock price has shown fluctuations, with a recent decline of 2.02% and a total market capitalization of 45.393 billion yuan, while the company has experienced a year-to-date stock price increase of 4.59% [1] Financial Performance - For the period from January to September 2025, KedaLi achieved a revenue of 10.603 billion yuan, representing a year-on-year growth of 23.41%, and a net profit attributable to shareholders of 1.185 billion yuan, reflecting a growth of 16.55% [2] Shareholder Information - As of September 30, 2025, KedaLi had 21,400 shareholders, a decrease of 4.91% from the previous period, with an average of 9,210 circulating shares per shareholder, which is an increase of 5.31% [2] - The company has distributed a total of 1.312 billion yuan in dividends since its A-share listing, with 1.022 billion yuan distributed over the past three years [3] Major Shareholders - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 7.7715 million shares, an increase of 1.128 million shares from the previous period [3] - Other notable shareholders include QuanGuo XuYuan Mixed A and HuaXia Energy Innovation Stock A, with varying changes in their holdings [3] Business Overview - KedaLi, established on September 20, 1996, and listed on March 2, 2017, specializes in the research and manufacturing of precision structural components, with lithium battery structural components accounting for 96.52% of its revenue [1]