钛媒体App 1月25日消息，下周市场大事预告： 1.Wind数据显示，下周逆回购到期规模为11810亿元，周一至周五分别到期1583亿、3240亿、3635亿、 2102亿、1250亿；另有2000亿元MLF于周一到期。本周央行已开展11810亿元逆回购操作，净投放2295 亿元，市场关注流动性对冲工具使用情况。 2.周一（26日）：国新办就2025年商务工作及运行情况举行新闻发布会。 3.周二（27日）：将公布中国2025年12月及全年规模以上工业企业利润同比数据。 4.周三（28日）：国新办发布会，介绍2025年国资央企高质量发展情况。 5.周五（30日）：将公布中国香港四季度GDP同比初值等数据。 6.周六（31日）：将公布中国1月官方制造业PMI数据。 7.Wind数据显示，30家公司限售股解禁，总市值逾400亿元（按1月23日收盘价计算）。从解禁市值来 看，1月27日是解禁高峰期。解禁市值居前三位的是：海博思创（231.54亿元）、福斯达（53.67亿 元）、益方生物-U（42.51亿元）。从个股的解禁量看，解禁股数居前三位的是：益方生物-U（1.61亿 股）、福斯达（1.11亿股）、海博思创（0 ...

Group 1: Investor Sentiment - Retail investors are moving away from Apple Inc. (NASDAQ:AAPL) stock, with significant net purchases of Nvidia Corp. (NASDAQ:NVDA) totaling $15 billion since July 2025, surpassing all other Magnificent 7 companies combined [2] - Tesla Inc. (NASDAQ:TSLA) has also seen a notable $6 billion in net retail purchases, indicating a shift in investor preferences among major tech companies [3] Group 2: Awards and Recognition - Netflix Inc. (NASDAQ:NFLX) has received 16 nominations for the 98th Academy Awards, aiming for a strong comeback after leading last year [4] - Apple Inc. has secured a Best Picture nomination, while Warner Bros. Discovery has set a new record with its film 'Sinners' [4] Group 3: Technological Developments - Apple Inc. is reportedly developing an AI-powered wearable pin, which could run the next-generation Siri and is comparable in size to an AirTag, indicating a competitive landscape in AI wearables [5] - Nvidia Corp. has overtaken Apple Inc. as the largest customer of Taiwan Semiconductor Manufacturing Co. Ltd (NYSE:TSM), driven by increased demand for artificial intelligence [6] Group 4: Market Innovations - The New York Stock Exchange plans to develop a platform for trading and on-chain settlement of tokenized securities, which will include features like 24/7 operations for U.S.-listed stocks and instant settlement [7]

行业周报 | 电力设备 马斯克公布 200GW 光伏计划，Optimus 预计 2027 年公开销售 证券研究报告 电新行业周报 20260119-20260125 核心结论 马斯克公布 200GW 光伏计划剑指太空 AI，明阳智能收购中山德华 100%股权。马斯克 在达沃斯世界经济论坛宣布 SpaceX 与特斯拉三年内将在美实现 200GW 光伏产能。近 期，明阳智能发布公告，拟通过发行股份及支付现金方式收购德华芯片 100%股权。商业 航天板块景气度持续，推荐福斯特、迈为股份、明阳智能、金风科技，建议关注华菱线 缆、琏升科技、东方日升、泰胜风能、钧达股份、海优新材、赛伍技术、宇晶股份、永 贵电器、天合光能。固态电池板块推荐当升科技，建议关注先惠技术、先导智能、纳科 诺尔、宏工科技。光伏板块推荐标的：爱旭股份，建议关注帝科股份、聚和材料。 AWS 上调 GPU 价格推动算力价值重估，反映全球高性能 GPU 资源持续稀缺。AI 算力 数据中心配套推荐思源电气、东方电气、四方股份、伊戈尔，建议关注联德股份、西子 洁能、科士达。 马斯克预计 Optimus 机器人将于 2027 年底上市公开销售。1 月 22 日 ...

Group 1: Federal Reserve and Economic Data - The Federal Reserve is not expected to change interest rates at the upcoming meeting, but comments from Chair Jerome Powell will be closely analyzed due to pressure from the White House to lower rates [1][4] - The FOMC has lowered rates at three consecutive meetings, but officials are awaiting more economic data on inflation and the labor market before making further cuts [4] - Additional economic data this week includes a delayed report on December wholesale inflation and an update on the U.S. trade balance [5] Group 2: Earnings Reports from Major Companies - Major companies including Microsoft, Meta Platforms, Tesla, and Apple are scheduled to report earnings this week, providing insights into the artificial intelligence sector and the performance of leading firms [2][6] - Microsoft is reporting amid a decline in its share price, while Tesla is facing slowed deliveries, prompting a search for new growth opportunities [7] - Meta's report is expected to shed light on its AI plans as it shifts focus from its metaverse projects, and Apple will likely discuss AI in light of its recent partnership with Alphabet [7] Group 3: Other Notable Earnings and Industry Insights - Other tech firms such as Texas Instruments, ASML, and IBM are also in focus, alongside telecom companies AT&T and Verizon [8] - Earnings from companies like Caterpillar, Boeing, General Motors, and Lockheed Martin could provide insights into the strength of the U.S. manufacturing sector [8]

相关标的：潍柴动力、宇通客车、中国重汽、比亚迪、上汽集团、吉利汽车、零跑汽车、小鹏汽车、赛 力斯、福耀玻璃、松原安全、三花智控、浙江荣泰、拓普集团、银轮股份、均胜电子、地平线机器人、 比亚迪电子、禾赛科技、速腾聚创等。 公司层面：1）泉峰汽车：公司发布业绩预告，披露2025 年归属于母公司所有者的净利润预计为-3.4 亿 元至-2.9 亿元，较上年同期-5.17 亿元显著收窄；扣非净利润预计为-3.5 亿元至-3.0 亿元，较上年同 期-5.22 亿元亦明显改善。2）英搏尔：2025 年度，英搏尔归属于上市公司股东的净利润预计达1.7 亿至 1.9 亿元，同比大幅增长139.43%至167.60%；扣除非经常性损益后的净利润为7,000 万至9,000 万元，同 比增长80.86%至132.54%。 投资建议：1）车市向上动能持续蓄力，板块逐步迈入向上修复通道：2026年汽车以旧换新政策已落 地，有望有效提振内需表现。此前因补贴退坡终端形成短期观望，而开年比亚迪、小鹏等均已迎来主力 车型换代，为2026 年积蓄向上势能，全年车市或呈先抑后扬走势。当前乘用车PE-TTM 处近5 年40%分 位以下，悲观情绪充分 ...

人，魔法原子机器人将首秀春晚 ——行业周报 行业走势图 数据来源：聚源 -14% 0% 14% 29% 43% 58% 72% 2025-01 2025-05 2025-09 机械设备 沪深300 机械设备 机械设备 2026 年 01 月 25 日 投资评级：看好（维持） 马斯克表示2026年底或2027年向公众出售人形机器 相关研究报告 《聚氨酯 TPU 结构件：防护减震理想 选择，人形机器人量产落地的"安全 垫"—行业周报》-2026.1.18 《新剑传动启动上市辅导，特斯拉供 应链核心资产有望迎来价值重估 — 行业周报》-2026.1.11 《马斯克宏图的下一个篇章：脑机接 口，2026 年将启动大规模量产，有望 解锁人机协同终极形态—行业周报》 -2026.1.4 | 孟鹏飞（分析师） | 黄雄（分析师） | | --- | --- | | mengpengfei@kysec.cn | huangxiong@kysec.cn | 证书编号：S0790522060001 人形机器人板块：结构性走强，上行趋势明晰 近期人形机器人板块指数呈震荡向上走势，量能温和放大，进入震荡上行通道。 本周（1 月 19 ...

商业航天，三大利好！ 据最新消息，特斯拉CEO埃隆.马斯克在达沃斯世界经济论坛上表示，SpaceX希望今年通过"星舰(Starship)"技术实现火箭完全可重 复使用，这一突破将使太空进入成本骤降99%，降至每磅100美元以下。 1月23日，北京市经济和信息化局，北京市科学技术委员会、中关村科技园区管理委员会，北京市规划和自然资源委员会，北京市 政务服务和数据管理局联合印发《北京市关于促进商业卫星遥感数据资源开发利用的若干措施(2026—2030年)》。《若干措施》明 确提出优化金融支持，统筹市内现有财政资金和产业发展基金，鼓励各区及社会资本加大遥感数据资源优质项目投融资支持力度。 具体来看，《若干措施》涵盖加强遥感数据资源基础能力建设、加强遥感数据资源共性支撑能力建设、加强遥感数据资源科技创新 能力建设、优化遥感数据资源开发利用环境、拓展遥感数据资源应用场景等六方面内容。 据酒泉市人民政府网站消息，近日，《酒泉市商业航天产业发展规划(2026—2035年)》发布，其中提出，酒泉市以建设国家商业航 天发射基地、国家航天科研试验基地、国家商业航天技术勤务保障基地和国家商业航天数据应用基地等为战略定位，明确了园区 ...

Economic Indicators - The U.S. durable goods orders for November are expected to show a month-on-month increase of 3%, a significant recovery from the previous decline of -2.2% [3] - China's industrial profits for December are anticipated to decline by 13.1% year-on-year, indicating ongoing pressure on profitability in the industrial sector [3][4] - The U.S. PCE inflation data for December will be released on January 29, providing insights into price pressures in the economy [9] Major Financial Events - The upcoming week is termed "Super Earnings Week," with major tech companies like Microsoft, Meta, Tesla, and Apple set to report earnings, shifting focus from traditional financial metrics to the efficiency of AI capital expenditures [6][10] - The Federal Reserve is expected to maintain interest rates during its meeting on January 30, with Chairman Powell's comments likely to clarify the outlook for future rate cuts [7][10] - The OPEC+ monthly meeting is scheduled for February 1, where oil production policies will be discussed [17] Corporate Earnings - Key tech giants such as Tesla, Microsoft, Meta, and Apple will report earnings, with a focus on AI-related capital expenditures and hardware cycle recovery [10][11] - Storage companies like SanDisk, Western Digital, and Seagate, along with South Korean firms Samsung and SK Hynix, will also report, with market attention on the impact of AI on storage pricing and profitability [10][11] Geopolitical Events - The U.S. Treasury Secretary is expected to announce the new Federal Reserve Chairperson candidate during the week of January 26, which could influence market sentiment [12] - The EU-India summit may announce a historic trade agreement, reflecting the EU's strategic pivot in response to U.S. trade policies [12] - Political tensions and geopolitical risks, including developments in Greenland and the potential for another U.S. government shutdown, are expected to create market uncertainty [12][13] Industry Conferences - The China Academy of Information and Communications Technology will hold a seminar on space computing power on January 26, focusing on the integration of space information and intelligent computing [16] - The European Parliament will host a fusion energy conference on January 27, discussing the EU's fusion strategy [17]

行业走势图 数据来源：聚源 -14% 0% 14% 29% 43% 58% 72% 2025-01 2025-05 2025-09 机械设备 沪深300 机械设备 机械设备 2026 年 01 月 25 日 投资评级：看好（维持） 马斯克表示2026年底或2027年向公众出售人形机器 人，魔法原子机器人将首秀春晚 ——行业周报 相关研究报告 《聚氨酯 TPU 结构件：防护减震理想 选择，人形机器人量产落地的"安全 垫"—行业周报》-2026.1.18 《新剑传动启动上市辅导，特斯拉供 应链核心资产有望迎来价值重估 — 行业周报》-2026.1.11 《马斯克宏图的下一个篇章：脑机接 口，2026 年将启动大规模量产，有望 解锁人机协同终极形态—行业周报》 -2026.1.4 | 孟鹏飞（分析师） | 黄雄（分析师） | | --- | --- | | mengpengfei@kysec.cn | huangxiong@kysec.cn | 证书编号：S0790522060001 证书编号：S0790525070005 人形机器人板块：结构性走强，上行趋势明晰 近期人形机器人板块指数呈震荡向上走势，量能温和放大 ...

一、流动性充裕的环境下，后续还有哪些催化值得期待？ 我们在《春季行情仍会有新高》中强调，此次降温影响的更多是行情的节奏、结构而非整体趋势，支撑 春季行情向上的核心逻辑并未发生任何变化，本轮春季行情仍在半途。本周来看，虽然行情节奏趋缓， 但向上趋势仍在延续，并且结构上赚钱效应正在朝着更广的范围扩散。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：尧望后势 流动性充裕是支撑本轮春季行情向上的核心驱动力，背后来源于险资"开门红"支撑新增保费入市、居民 存款集中到期与人民币升值吸引的境外资金回流。 一方面，根据渠道数据，今年险资"开门红"表现亮眼，支撑大量新增保费入市。根据险企观察公众号披 露的渠道数据，截至1月中旬，头部公司个险保费增速普遍超30%，多家公司个险期交保费已突破百亿 关口，银保渠道甚至出现翻倍增长。新增保费30%需要入市的硬性配置需求，为市场带来大量增量资 金。 另一方面，根据居民定期存款到期期限推算，今年上半年将是居民存款集中到期的高峰，配合春季风险 偏好抬升，一季度有望是居民增配权益资产的重要窗口。2022年以来居民定期存款开始抬升，至2023年 年中到达阶段性高 ...