本周投资前瞻：长牛、慢牛基础进一步夯实

Market News - The policy for tax refunds on housing transactions for residents will be extended until the end of 2027, allowing taxpayers to receive refunds on individual income tax paid when selling their homes and purchasing new ones within one year [2] - The National Medical Insurance Administration has initiated a pilot program for "Personal Medical Insurance Cloud" from February to December this year, aiming to create a smart medical insurance management model covering the entire population [2] - Starting in 2026, companies providing paid services such as dining and accommodation to employees may be subject to VAT, as the new VAT law removes the exemption for such services [2] Sector Matters - The Ministry of Industry and Information Technology has outlined four major actions for the development of industrial internet platforms, aiming for over 450 influential platforms and more than 120 million connected industrial devices by 2028 [7] - Jiangsu Province has released an "Artificial Intelligence+" action plan, targeting an AI industry scale exceeding one trillion yuan by 2027, with a focus on developing intelligent robots and promoting autonomous driving applications [8] - The 2026 annual work meeting of the inter-ministerial joint conference on energy-saving and new energy vehicles emphasized enhancing the self-control capability of the supply chain and accelerating breakthroughs in solid-state batteries and advanced autonomous driving technologies [9] Individual Stock Events - Guizhou Moutai plans to adjust the factory prices of several products, including reducing the factory price of "Moutai Boutique Wine" from 2969 yuan to 1859 yuan [11] - Honor announced a collaboration with Pop Mart for the launch of the Honor Digital 500 series, positioning it as the industry's first trendy toy phone [11] - XPeng Motors' flying car division has reportedly submitted a confidential IPO application in Hong Kong, with plans to complete it within this year [11] - Baidu is considering upgrading its secondary listing in Hong Kong to a "dual primary listing" to attract more mainland capital [11] Lock-up Stock Expiration - A total of 37 companies will have lock-up stocks released this week, amounting to 3.445 billion shares with a total market value of 46.421 billion yuan based on the closing price on January 16 [15] - The peak of lock-up expirations is on January 19, with 20 companies releasing stocks worth a total of 23.323 billion yuan, accounting for 50.25% of the week's total [15] New Stock Calendar - Three new stocks are set to be issued this week, with a total of approximately 300 million shares expected to raise 5.38 billion yuan [18] Institutional Outlook - Caixin Securities suggests that a "slow bull" and "long bull" market is the foundation for high-quality growth, supported by strong pricing fundamentals for Chinese assets [21] - Galaxy Securities notes that the foundation for a long bull market in A-shares is further solidified, with active investor sentiment and a rise in margin trading [22] - Open Source Securities advises investors to remain confident in the ongoing bull market despite short-term fluctuations, emphasizing the importance of rational market behavior [23]