Core Viewpoint - On January 12, the Shanghai Composite Index rose by 1.09%, the Shenzhen Component Index increased by 1.75%, and the ChiNext Index climbed by 1.82%. The most significant net inflow of funds was into Shanzi Gaoke (000981.SZ), amounting to 936 million yuan, while the largest net outflow was from Runze Technology (300442.SZ), totaling 559 million yuan [1][5]. Summary by Category Stock Performance - Shanzi Gaoke (000981.SZ) closed up by 10.09% with a turnover rate of 17.71%, and it had the highest net buying amount of 936 million yuan, accounting for 11.04% of the total trading volume [1][3][5]. - Runze Technology (300442.SZ) experienced a net selling of 559 million yuan, representing 5.88% of the total trading volume, and closed up by 20% with a turnover rate of 7.64% [1][4]. Institutional Activity - A total of 42 stocks appeared on the trading leaderboard with institutional participation, where institutions net sold 662 million yuan, buying 19 stocks and selling 23 stocks [5][10]. - The highest net buying by institutions was also in Shanzi Gaoke (000981.SZ), with a net purchase of 484 million yuan [6][14]. Northbound Capital Flow - Northbound capital participated in 34 stocks, with a total net outflow of 82.32 million yuan. The highest net buying was in Shanzi Gaoke (000981.SZ) at 532 million yuan, while the largest net selling was in Kunlun Wanwei (300418.SZ) at 250 million yuan [10][13]. - Northbound funds showed a divergence in some stocks, with institutions net selling BlueFocus (20.02%) while Northbound funds net bought it [13][14]. Overall Market Trends - Among the 63 stocks on the leaderboard, 32 stocks were net bought while 31 were net sold, indicating a mixed sentiment in the market [1][5]. - The overall market showed a positive trend with significant movements in specific stocks, particularly Shanzi Gaoke and Runze Technology, reflecting investor interest and institutional strategies [1][10].

Core Viewpoint - The AI application sector is experiencing a significant surge, with many stocks in the ChiNext AI index hitting the 20% daily limit up, indicating strong market enthusiasm and potential for further growth [1][7]. Group 1: Market Performance - The ChiNext AI index has seen a cumulative increase of over 12% since the beginning of the year, outperforming the communication equipment index [10]. - Eight stocks, including BlueFocus, Toprays, and Han's Information, achieved the 20% limit up, with Epoint and Kunlun Wanwei showing particularly strong performance [1][7]. - The ChiNext AI ETF (159363) experienced a price increase of 7.85%, reaching a new high, with a trading volume exceeding 1 billion yuan and a net subscription of 352 million units [1][7]. Group 2: Industry Catalysts - Recent developments in AI, such as the rise of "Generative Engine Optimization" (GEO) and Elon Musk's announcement to open-source the latest content recommendation algorithm, are seen as catalysts for the AI application market [3][9]. - A report from招商证券 highlights the rapid improvement in LLM reasoning and multimodal capabilities, along with reduced training costs, accelerating the commercialization of AI applications [10]. Group 3: Investment Strategy - The current market is transitioning to a new phase where application-driven investments are prioritized, moving from infrastructure to practical applications of AI technology [5][12]. - The ChiNext AI ETF is positioned to benefit directly from the commercialization of AI technology, making it an attractive investment option for capturing growth in this sector [12].

21智讯01月12日电，昆仑万维公告，公司股票于2026年1月9日、1月12日连续两个交易日收盘价格涨幅 偏离值累计超过30%，根据深圳证券交易所交易规则，属于股票交易异常波动的情况。针对上述情况， 公司进行了核实并说明：截至公告日，公司前期披露的信息不存在需要更正或补充之处；近期未发现公 共传媒报道可能对公司股价产生较大影响的未公开重大信息；公司当前经营情况及内外部环境未发生重 大变化；公司及控股股东、实际控制人不存在应披露而未披露的重大事项，也未处于筹划阶段的重大事 项；控股股东及实际控制人在股票异常波动期间未买卖公司股票。公司董事会确认，目前没有任何应予 以披露而未披露的事项，亦未获悉任何对公司股票交易价格产生较大影响的信息。 ...

Core Insights - On January 12, a total of 90 stocks were involved with institutional investors, with 46 showing net buying and 44 showing net selling [1] Group 1: Institutional Buying - The top three stocks with the highest net buying by institutions were: - Shanzi Gaoke with a net buying amount of 484.02 million [2] - China Satellite Communications with a net buying amount of 437.30 million [2] - Dongxin He Ping with a net buying amount of 420.39 million [2] - Other notable stocks with significant net buying included: - Huaqin Technology with a net buying of 339.53 million [2] - Liou Shares with a net buying of 309.43 million [2] - Xinghuan Technology with a net buying of 287.37 million [2] Group 2: Institutional Selling - The top three stocks with the highest net selling by institutions were: - Kunlun Wanwei with a net selling amount of 536.26 million [5] - Guobo Electronics with a net selling amount of 483.33 million [5] - Zaiseng Technology with a net selling amount of 355.73 million [5] - Other notable stocks with significant net selling included: - Hande Information with a net selling of 99.11 million [5] - Jin Wind Technology with a net selling of 161.33 million [5] - Blue Focus with a net selling of 283.99 million [5]

每经AI快讯，1月12日，昆仑万维（300418）公告称，公司股票于2026年1月9日、1月12日连续两个交 易日收盘价格涨幅偏离值累计超过30%，属于股票交易异常波动情况。经核实，公司前期披露的信息无 需要更正补充，近期公共传媒未报道可能影响股价的重大信息，公司经营情况及内外部经营环境未发生 重大变化，公司及控股股东、实际控制人无应披露而未披露的重大事项，且在股票异常波动期间未买卖 公司股票。 ...

Market Performance - The Shanghai Composite Index closed at 4165.29 points, up 1.09%, with a trading volume of 1.4462 trillion yuan, marking a historical high in trading volume [1] - The Shenzhen Component Index rose 1.75% to 14366.91 points, with a trading volume of 2.1552 trillion yuan [1] - The ChiNext Index increased by 1.82% to 3388.34 points, with a trading volume of 1.0962 trillion yuan [1] - The STAR 50 Index gained 2.43% to close at 1511.84 points, with a trading volume of 106.6 billion yuan [1] - The total trading volume of both markets reached 3.60142 trillion yuan, an increase of 478.659 billion yuan compared to the previous trading day [1] Sector Performance - Strong sectors included Media, Computer, Defense, Education, Communication, Retail, Steel, Machinery, and Textile, with notable gains [2] - Active concepts included Short Drama Interactive Games, Multi-modal AI, Satellite Internet, and Quantum Technology [2] - Weak sectors included Oil, Insurance, and Coal, with notable declines [2] Individual Stock Performance - 3872 stocks rose while 1167 stocks fell, with 197 stocks hitting the daily limit up and 9 stocks hitting the limit down [2] - Fenglong Co. achieved a record 12 consecutive limit-up days, leading the market [5] - 150 stocks saw net inflows exceeding 100 million yuan, with Dongfang Caifu leading at 1.81 billion yuan [9][10] - 168 stocks experienced net outflows exceeding 100 million yuan, with Yangguang Electric leading at 2.081 billion yuan [11][12] Institutional Activity - Institutions had a net sell of approximately 699 million yuan, with 15 stocks seeing net purchases and 21 stocks net sales [14] - The top net purchase stock by institutions was Shanzi High-Tech, with a net inflow of approximately 484 million yuan [14]

2、公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较大影响 的未公开重大信息。 昆仑万维科技股份有限公司 关于股票交易异常波动的公告 证券代码：300418 证券简称：昆仑万维 公告编号：2026-003 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。 一、股票交易异常波动情况 昆仑万维科技股份有限公司（以下简称"公司"）股票于2026年1月9日、1月12日， 连续两个交易日收盘价格涨幅偏离值累计超过30%，根据《深圳证券交易所交易规则》 的规定，属于股票交易异常波动的情况。 二、公司关注、核实相关情况 针对公司股票异常波动情况，公司就相关事项进行了核实，现就有关情况说明如下： 1、截至本公告日，公司前期披露的信息不存在需要更正、补充之处。 3、公司目前的经营情况及内外部经营环境未发生重大变化。 4、公司及控股股东、实际控制人不存在应披露而未披露的重大事项，也不存在处 于筹划阶段的重大事项。 5、控股股东、实际控制人在公司股票异常波动期间未买卖公司股票。 三、 董事会关于不存在应披露而未披露信息的说明 公司董事会确认，公司目前没有任何根据《创业板 ...

Core Insights - The AI application sector is experiencing a significant surge, with multiple stocks in the ChiNext index hitting the 20% daily limit up, indicating strong market enthusiasm for AI-related investments [1] - The ChiNext AI ETF (159363) has seen a substantial price increase of 7.85%, reflecting a robust inflow of capital, with a net subscription of 352 million units [1][3] - The overall performance of the ChiNext AI index has outpaced the communication equipment index, with a cumulative increase of over 12% since the beginning of the year [3] Group 1: Market Performance - Eight stocks, including BlueFocus, Toprays, and Han's Information, achieved the 20% limit up, showcasing the bullish sentiment in the AI sector [1] - The ChiNext AI ETF has recorded a trading volume exceeding 1 billion yuan in a single day, indicating strong investor interest [1] - The current price of the ChiNext AI ETF is approaching its pre-dividend closing price, suggesting a potential "fill the gap" scenario, which reflects high industry optimism [1] Group 2: Industry Developments - New catalysts for AI applications have emerged, particularly the growing interest in "Generative Engine Optimization" (GEO) as a new AI sector [3] - Elon Musk announced the upcoming open-source release of the latest content recommendation algorithm for the X platform, which is expected to enhance AI capabilities [3] - A report from China Merchants Securities highlights the rapid advancement in AI applications, driven by improved reasoning capabilities and reduced training costs, with expectations for better revenue realization by 2026 [3] Group 3: Investment Strategy - The ChiNext AI index is structured to cover a wide range of assets from computing infrastructure to deep integration of AI technologies across various industries, indicating a strategic shift towards application-driven investments [4] - The market is perceived to have entered a new phase of AI investment, where applications are prioritized over mere computational power, emphasizing the importance of a dual strategy in "computing power + AI applications" [4]

Group 1: Market Overview - The total trading amount for the Shanghai Stock Connect today was 1728.58 billion, while the Shenzhen Stock Connect totaled 2261.22 billion [2] - The top traded stocks in the Shanghai Stock Connect included Qihua Technology with 34.06 billion, followed by Qingshou Technology at 24.75 billion, and Lightway Innovation at 21.32 billion [3] - In the Shenzhen Stock Connect, the leading stock was Ningde Times with 61.26 billion, followed by Zhongji Xuchuang at 47.86 billion, and Xinyi Sheng at 43.50 billion [3] Group 2: Sector Performance - AI applications and commercial aerospace sectors showed significant gains, while insurance, oil and gas, and real estate sectors experienced declines [4] - The computer sector led with a net inflow of 155.26 billion, followed by cultural media at 46.05 billion, and securities at 43.45 billion [5] - The electric new industry sector had the highest net outflow at -136.83 billion, followed by electronics at -105.83 billion, and basic chemicals at -63.92 billion [6] Group 3: Individual Stock Activity - Dongfang Caifu had the highest net inflow among individual stocks at 17.42 billion, followed by Lingyi Zhi Zao at 16.51 billion, and Yanshan Technology at 14.36 billion [7] - China Ping An experienced the largest net outflow at -23.03 billion, followed by Sunshine Power at -20.71 billion, and Goldwind Technology at -19.51 billion [8] Group 4: ETF Trading - The top ten ETFs by trading amount included the Hong Kong Securities ETF with 145.29 billion, and the CSI A500 ETF at 82.10 billion [9] - The ETF with the highest growth in trading amount compared to the previous trading day was the Media ETF, which increased by 299.03% [10] Group 5: Futures Market - In the futures market, the main contracts for IH, IF, and IM saw both long and short positions increase, with a notable increase in short positions for IF and IM contracts [12] Group 6: Institutional and Retail Activity - Institutional activity was high, with notable purchases including Shanzi Gaoke at 4.84 billion and Leike Defense at 2.35 billion [14] - Retail investors showed significant activity, with Kunlun Wanwei receiving a purchase of 3.8 billion from a prominent retail investor, while BlueFocus received 2.25 billion [16]

Summary of Key Points Core Viewpoint - The trading volume of the Shanghai and Shenzhen Stock Connect reached a total of 398.98 billion, with Cambricon and CATL leading in individual stock trading volume on the Shanghai and Shenzhen exchanges respectively [1][2]. Trading Volume - The total trading amount for the Shanghai Stock Connect was 172.86 billion, while the Shenzhen Stock Connect totaled 226.12 billion [2]. Top Individual Stocks - In the Shanghai Stock Connect, Cambricon (688256) had a trading volume of 3.406 billion, followed by Zhaoyi Innovation (603986) at 2.132 billion [3]. - In the Shenzhen Stock Connect, CATL (300750) led with a trading volume of 6.126 billion, followed by Zhongji Xuchuang (300308) at 4.786 billion [3]. Sector Performance - The AI application and commercial aerospace sectors showed the highest gains, while insurance, oil and gas, and real estate sectors experienced the largest declines [4]. - The new energy sector saw the highest net outflow of funds [5]. Major Fund Inflows and Outflows - The top ten stocks with net inflows included Dongfang Caifu with 1.742 billion and Lingyi Technology with 1.651 billion [6]. - The top ten stocks with net outflows included China Ping An with -2.303 billion and Sunshine Power with -2.071 billion [6]. ETF Trading - The top ETF by trading volume was the Hong Kong Securities ETF (513090) with 14.5289 billion, followed by the CSI A500 ETF (159338) at 8.2104 billion [8]. - The CSI A500 ETF saw a decrease of 3.72% compared to the previous trading day [8]. ETF Share Changes - The top ten ETFs with the largest share increases included the Medical Device ETF (159883) with an increase of 2.768 billion shares, and the Securities Insurance ETF (512070) with an increase of 2.695 billion shares [10]. - The top ten ETFs with the largest share decreases included the Wine ETF (512690) with a decrease of 2.3994 billion shares, and the A500 ETF Leader (563800) with a decrease of 2.301 billion shares [11]. Market Activity - The four major index futures contracts saw both long and short positions increase, with the IF and IM contracts seeing a larger increase in short positions [12]. - The market saw significant activity from institutions, with notable purchases in stocks like Shanzi Technology and LeiKe Defense [14]. Retail and Quantitative Trading - Retail investors showed high activity, with significant purchases in stocks like Kunlun Wanwei and BlueFocus [16]. - Quantitative funds were also active, with notable purchases in stocks like Dazhi Technology and significant sell-offs in others [17].