上海汽配股价震荡，受政策与资金面影响

Group 1 - Shanghai Automotive Parts (603107) experienced a fluctuating stock price, with a 1.24% increase to 15.47 yuan on February 9, 2026, and a slight decline of 0.39% to 15.38 yuan by February 12, 2026, indicating a total fluctuation of 0.59% and a trading range of 1.96% [1] - The stock's performance was slightly below the automotive parts sector, which saw an index increase of 2.43% during the same period [1] - The net outflow of main funds was 51.86 thousand yuan on February 9 and 234.41 thousand yuan on February 12, suggesting a divergence in market sentiment [1] Group 2 - The Ministry of Commerce announced a subsidy policy for vehicle trade-in during the Spring Festival, effective from February 15 to 23, 2026, aimed at stimulating automotive consumption, which may indirectly boost demand in the automotive parts industry [2] - On the same day, the central bank conducted reverse repurchase operations, injecting 448 billion yuan into the market to support liquidity [2] Group 3 - Market analysis on February 9 highlighted that Shanghai Automotive Parts' recent stock movements were driven by themes related to China-Russia trade, new energy vehicles, and automotive thermal management [3] - The company's fundamentals appear robust, with a 12.11% year-on-year revenue growth and a 59.66% increase in net profit for Q3 2025, although persistent net outflows may indicate short-term adjustment pressures [3] - Long-term prospects are supported by the company's international expansion plans, such as investments in Morocco, and favorable policy environments in the automotive sector [3]