中电科蓝天科技股份有限公司董事长、党委书记郑宏宇女士 ——中电科蓝天科技股份有限公司首次公开发行股票并在科创板上市网上投资者交流会精彩回放 出席嘉宾 中电科蓝天科技股份有限公司总经理朱立宏先生 中电科蓝天科技股份有限公司总会计师、财务负责人张汇军先生 中电科蓝天科技股份有限公司董事会秘书王祎先生 中信建投证券股份有限公司项目负责人张恒征先生 中信建投证券股份有限公司保荐代表人郝智伟先生 中信建投证券股份有限公司保荐代表人李诗昀女士 中电科蓝天科技股份有限公司 董事长、党委书记郑宏宇女士致辞 尊敬的各位投资者、各位网友： 大家好！ 今天，我们怀着无比诚挚的心情，相聚在网上路演平台，与各位投资者和网友深入交流。首先，我谨代 表公司全体员工，向长期以来关心、支持电科蓝天发展的各级领导、合作伙伴、投资者及社会各界朋 友，表示最衷心的感谢！向参与本次网上路演的各位嘉宾和朋友，致以最热烈的欢迎！ 电科蓝天坚持以"先进电源服务国家，绿色能源造福人类"为宗旨，以"引领电能源技术及产业发展"为主 责，在电能源领域深耕数十年，致力于成为先进电能源系统解决方案和核心产品的供应商。公司主要从 事电能源产品及系统的研发、生产、销售及服 ...

北汽蓝谷分析师会议 调研日期：2026年01月29日 调研行业：汽车整车 参与调研的机构：易方达基金、中信证券、中信建投、方正证 券、中泰证券等 / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START ...

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！ 第1笔成交价格为14.46元，成交21.00万股，成交金额303.66万元，溢价率为-12.79%，买方营业部为机 构专用，卖方营业部为中国国际金融股份有限公司上海分公司。 第2笔成交价格为14.46元，成交15.00万股，成交金额216.90万元，溢价率为-12.79%，买方营业部为华 泰证券股份有限公司深圳后海中心路证券营业部，卖方营业部为中国国际金融股份有限公司上海分公 司。 1月29日，三江购物收涨3.17%，收盘价为16.58元，发生12笔大宗交易，合计成交量189.56万股，成交 金额2741.07万元。 第4笔成交价格为14.46元，成交13.84万股，成交金额200.13万元，溢价率为-12.79%，买方营业部为机 构专用，卖方营业部为中国国际金融股份有限公司上海分公司。 第5笔成交价格为14.46元，成交13.84万股，成交金额200.13万元，溢价率为-12.79%，买方营业部为机 构专用，卖方营业部为中国国际金融股份有限公司上海分公司。 第6笔成交价格为14.46元，成交13.84万股，成交金额200.13万元，溢 ...

中信建投判断，中国军工产业已从过去依赖国内单一需求的模式，演进为三轮驱动的新发展格局， 增长动能更加多元和可持续。"内需筑基、外贸扩张、民用反哺"的格局正在深刻重塑我国军工产业的面 貌和边界。行业从"周期成长"转向"全面成长"。第一曲线国内军工需求（基本盘）：聚焦"备战打仗"和 装备现代化，需求来自国防预算稳定增长及装备升级换代。强威慑高精尖+体系化无人化低成本是主要 增长方向。第二曲线军贸出海（新引擎）：凭借性价比优势、体系化作战能力和地缘战略合作，中国军 贸份额持续提升，成为全球重要供应方。第三曲线军用技术民用化（新边界）：尖端军工技术向民用领 域溢出，催生商业航天、低空经济、未来能源、深海科技、大飞机等万亿级新产业，形成"军技民用， 反哺军工"的良性循环。 每日经济新闻 （责任编辑：刘畅 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 军工ETF（512660）跟踪的是中证军工指数（399967 ...

1月29日，MSCIESGETF（159621）盘中涨超1%，市场关注ESG主题产品配置趋势。 MSCI ESG ETF（159621）跟踪的是MSCI中国A股人民币ESG通用指数，该指数基于通过"互联互通"机 制可投资的代表性大中盘A股。指数在母指数基础上调整自由流通市值权重，增持具有稳健ESG表现及 积极改善趋势的企业，以反映对ESG因素的投资偏好。 （文章来源：每日经济新闻） 中信建投指出，2025年，理财子产品非固收类的资产配置比例有所提高，发行的ESG主题理财产品数量 显著增加。ESG主题产品发行数量多，产品总规模较大，2025年共有7家样本理财子公司发行了ESG主 题产品合计148只，按规模上限测算总规模约为2.16万亿元。此类产品绝大部分为固定收益类，资产配 置以固收类资产为主，资产投向为固收类资产占比不低于80%。从产品特征来看，ESG主题产品以中期 限产品为主，整体业绩比较基准为2.16%，比2024年市场平均业绩比较基准低27bp，风险等级高于市场 平均水平。其基本费率较低，平均为0.33%，且起购金额较小，对个人投资者较为友好。展望2026年， 预计理财子将加快发行同金融五篇大文章相关的 ...

Group 1: Chinese Stock and Equity-Linked Market - In 2025, Chinese companies are projected to raise a total of $123.49 billion in the global capital markets through stock and equity-linked transactions, representing a year-on-year increase of 103% but a quarter-on-quarter decrease of 17% [3] - The number of issuances is expected to grow by 34% compared to 2024, totaling 566 transactions, with a 6% decrease in Q4 compared to Q3 [3] - Initial Public Offerings (IPOs) are expected to reach $25.77 billion, a 77% increase year-on-year and a 39% increase quarter-on-quarter [3] - The industrial sector leads with a 24% market share, raising $29.43 billion, which is a 98% increase compared to the previous year [5] - CITIC Securities ranks first among underwriters in the Chinese stock and equity-linked market [7] Group 2: Chinese Bond Market - The total issuance of RMB bonds in 2025 is projected to be approximately 29.2 trillion RMB, reflecting a year-on-year growth of 13%, although Q4 issuance is expected to decrease by 28% compared to Q3 [11] - The Panda bond market is expected to see a total issuance of approximately 134.16 billion RMB, a 13% decrease year-on-year, but with a 21% increase in Q4 compared to Q3 [12] - Government and institutional bond issuances are expected to account for about 14.4 trillion RMB, representing 49% of the market share, with a year-on-year growth of 13% [13] - CITIC leads the RMB bond underwriting rankings, while Bank of China ranks first in Panda bond underwriting [16] Group 3: Syndicated Loans - Bank of China leads the rankings for all currency syndicated and club loans, as well as for all currency loan book runners [23] - The total amount of all currency syndicated loans is projected to be $28.85 billion, with a market share of 46.2%, although this represents a 47% decrease compared to the previous year [24] - In the same category, Bank of China is expected to maintain a market share of 48.1% with a total of $20.89 billion in loans, despite a 51% decrease compared to the previous year [24]

昨日（1月28日）有色金属板块领涨两市，白银有色、湖南黄金、中国铝业等16只成份股涨停，有色 ETF华宝（159876）场内价格飙涨6.95%，续创历史新高！深交所数据显示，该ETF单日吸金1.85亿元， 拉长时间来看，此前20日连续吸金，合计狂揽超14亿元！ 值得一提的是，今日（1月29日）盘中现货黄金首次突破5500美元大关，本周金价从略低于5000美元的 水平一路狂飙，连破6道整百关口，周涨幅超500美元。 消息面上，北京时间周四（1月29日）凌晨，美联储结束为期两天的货币政策会议，宣布将联邦基金利 率目标区间维持在3.5%至3.75%之间，符合市场普遍预期。美联储暂停降息但释放未来宽松预期，叠加 市场对鸽派美联储主席人选的押注，推动贵金属避险及抗通胀属性凸显。 中信建投证券认为，只要美联储还处于降息通道中，有色金属价格仍有上涨动力。东方证券指出，美联 储降息周期里，供需偏紧的实物资产，即使是较小的供需缺口也有望产生较大的价格弹性。本轮降息周 期下，以铜、铝为代表的工业金属超级周期或已来临。 另一方面，芝加哥商品交易所对部分白银、铂金和钯金期货合约的保证金参数进行调整，部分白银合约 的新保证金比例提高至 ...

Group 1 - The non-ferrous metal sector is leading the market, with 16 constituent stocks including silver and aluminum companies hitting the daily limit, and the Huabao non-ferrous metal ETF (159876) rising by 6.95%, reaching a historical high [1][4] - The Huabao ETF attracted 185 million yuan in a single day, and over the previous 20 days, it accumulated more than 1.4 billion yuan [1][4] - As of January 29, the Huabao ETF's latest scale reached 2.68 billion yuan, marking a new historical high and making it the largest ETF tracking the non-ferrous metal index in the market [4][6] Group 2 - Spot gold prices have surpassed 5,500 USD for the first time, with a weekly increase of over 500 USD, reflecting strong demand for precious metals amid expectations of future monetary easing by the Federal Reserve [3] - The Federal Reserve maintained its target interest rate between 3.5% and 3.75%, aligning with market expectations, which has bolstered the appeal of precious metals as a hedge against inflation [3] - Analysts from CITIC Securities and Dongfang Securities suggest that as long as the Federal Reserve remains in a rate-cutting cycle, non-ferrous metal prices will continue to have upward momentum, indicating the potential onset of a super cycle for industrial metals like copper and aluminum [3][4] Group 3 - The Chicago Mercantile Exchange has adjusted margin parameters for certain silver, platinum, and palladium futures contracts, which may increase short-term volatility in the market [3] - The non-ferrous metal sector is experiencing a comprehensive bull market, with ongoing valuation recovery lagging behind commodity price increases, highlighting the performance elasticity of precious and industrial metals [4][6] - The Huabao ETF covers a wide range of metals, including copper, aluminum, gold, rare earths, and lithium, making it an efficient tool for investors to gain exposure to the non-ferrous metal sector [6]

Market Overview - The bond market showed signs of warming up with a general decline in interbank bond yields, particularly for government bonds with maturities of 5 years and above, where the 10-year government bond yield approached 1.81% [1] - The net injection in the open market was 14 billion yuan, leading to a decline in short-term funding rates across the board [1] Bond Futures - Government bond futures closed higher across the board, with the 30-year main contract rising by 0.07% to 112.09, the 10-year main contract up by 0.05% to 108.21, and the 5-year main contract increasing by 0.06% to 105.87 [2] - The China Convertible Bond Index rose by 0.50% to 531.58 points, with notable increases in several convertible bonds, including N Lianrui and Jinjiji bonds, which rose by 30.00% and 13.82% respectively [2] International Bond Market - In North America, U.S. Treasury yields showed mixed results, with the 2-year yield rising by 0.64 basis points to 3.596% and the 10-year yield increasing by 2.79 basis points to 4.243% [3] - In the Eurozone, yields on 10-year government bonds also increased, with French bonds rising by 0.1 basis points to 3.435% and German bonds up by 0.8 basis points to 2.873% [3] Primary Market - The Export-Import Bank's 2-year and 3-year financial bonds had winning yields of 1.5501% and 1.6044%, respectively, with bid-to-cover ratios of 5.34 and 4.54 [4] - The Xinjiang Uygur Autonomous Region's local bonds showed strong demand, with bid-to-cover ratios exceeding 15 times for both the 20-year and 30-year bonds [4] Funding Conditions - The central bank conducted a 7-day reverse repurchase operation with a total amount of 377.5 billion yuan at a rate of 1.40%, resulting in a net injection of 14 billion yuan for the day [5] - Short-term Shibor rates declined across the board, with the overnight rate down by 0.5 basis points to 1.366% [5] Institutional Insights - CITIC Securities noted that long-term government bonds are primarily priced by funds, which have significant holdings and trading volumes, while rural commercial banks have weaker pricing power [6] - Huaxi Fixed Income pointed out that the current interest rate decline is driven by a supply-demand mismatch, with banks increasing their allocations in the secondary market [7] - Zhejiang Commercial Bank indicated that while this week is a data vacuum period, supply pressure from government bonds will gradually emerge, and the market is sensitive to negative news [7]

1月28日，央企共赢ETF（517090）收涨超2%，科技金融为新质生产力构成关键支撑。 中信建投指出，科技金融是驱动金融资源与科技创新融合的重要工具，为发展新质生产力、实现科 技自立自强提供关键支撑。当前核心矛盾在于科技创新活动的高风险、长周期特性与传统金融追求安 全、短期回报的惯性之间存在结构性错配。解决此矛盾远非金融部门一己之责，亟需政府、市场、产业 等全社会多维度协同供给，以及"耐心资本"的长期培育。具体而言，金融机构应从单一融资提供者转向 为企业全生命周期提供"融资+融智+融资源"服务的产业生态共建者，构建覆盖初创、成长、成熟等各 阶段的综合服务方案，以陪伴企业成长并精准配置资源。 央企共赢ETF（517090）跟踪的是富时中国国企开放共赢指数，指数关注全球化和可持续发展，行 业集中于石油石化、建筑等领域，风格偏向大市值、低波动率和高股息，以反映相关上市公司证券的整 体表现。 风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供 参考，不代表其未来表现，亦不构成对基金业绩的承诺或保证。观点可能随市场环境变化而调整，不构 成投资建议或承诺。提及基金风险收益特征各不相同 ...