Group 1 - The core viewpoint of the article highlights a significant increase in new A-share accounts in January 2026, with a total of 4.9158 million new accounts opened, marking a 89% month-on-month increase and a 213% year-on-year increase [1] - The majority of new accounts were opened by individual investors, totaling 4.9053 million, while institutional investors accounted for 10,554 accounts [1] - The new account figures for January 2026 surpassed all monthly totals from 2025 and ranked as the fifth highest in nearly a decade, indicating a strong market sentiment and renewed investor interest [1] Group 2 - The surge in new accounts is closely linked to the positive performance of the A-share market in January 2026, where all three major indices recorded gains and trading volumes reached historical highs [2] - The Shanghai Composite Index closed at 4,117.95 points, with a monthly increase of 3.76%, while the Shenzhen Component and ChiNext indices rose by 5.03% and 4.47%, respectively [2] - The total trading volume in January 2026 reached approximately 34.7 trillion shares, marking the second highest monthly trading volume, and the total trading value exceeded 60 trillion yuan, setting a new historical record [2] Group 3 - Market outlook from major brokerage firms is generally optimistic, with many analysts believing that the market is in the second phase of a bull market driven by continuous inflow of new capital [4] - Analysts from Industrial Securities emphasize that the recent market rally is supported by favorable domestic fundamentals, policy initiatives, and ample liquidity, which are expected to continue driving the market [4] - According to China Merchants Securities, while the market may experience fluctuations in February due to regulatory signals and ETF outflows, a better performance is anticipated post-Spring Festival, especially with the upcoming Two Sessions [5]

EFR 证券■ 时玩人行业 看好 相关研究 《证券行业 2026 年投资策略：权益浪潮 下的券商机遇：财富扩容，国际增效》 2025/11/17 证券分析师 罗钻辉 A0230523090004 luozh@swsresearch.com 金黎丹 A0230525060004 jinld@swsresearch.com 联系人 金黎丹 A0230525060004 jinld@swsresearch.com 行业点评 表 2: 重要上市券商估值表一览 (2026 年 2 月 3 日) 申万宏源研究微信服务号 华泰及广发 H 股再融资 加得国际业务 券商板块跟踪 请务必仔细阅读正文之后的各项信息披露与声明 2026 年 02 月 03 日 华泰证券：2026/2/3，华泰证券公告根据一般性授权发行 2027 年到期的 H 股零息转债 100 亿港 0 元。募资净额：拟 99.25 亿港元。初始转股价: 每 H 股 19.70 港元 (可予调整)，较收盘价溢价 率 6.78%。若以初始转股价计，转股约 5.08 亿股，占已发行 H 股的 29.53%，已发行总股本的 5.62%。摊薄影响：BPS 从 9M25 的 ...

行 业 及 产 业 非银金融/ 证券Ⅱ 行 业 研 究 / 相关研究 《证券行业 2026 年投资策略：权益浪潮 下的券商机遇：财富扩容，国际增效》 2025/11/17 证 券 研 究 报 告 证券分析师 罗钻辉 A0230523090004 luozh@swsresearch.com 金黎丹 A0230525060004 jinld@swsresearch.com 联系人 金黎丹 A0230525060004 jinld@swsresearch.com 2026 年 02 月 03 日 华泰及广发 H 股再融资落地，持续 加码国际业务 看好 ——券商板块跟踪 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 博时基金 博时基金管理有限公司(researchreport@bosera.com) 使用。1 行 业 点 评 ⚫ 华泰证券：2026/2/3，华泰证券公告根据一般性授权发行 2027 年到期的 H 股零息转债 100 亿港 元。募资净额：拟 99.25 亿港元。初始转股价：每 H 股 19.70 港元（可予调整），较收盘价溢价 率 6.78%。若以初始转股价计，转股约 5.08 ...

Core Insights - In early 2026, ETF fund flows showed significant divergence, with core broad-based ETFs experiencing large net outflows, while industry-themed ETFs gained popularity and saw substantial inflows [1][9] - The preference for industry-themed ETFs highlights a consensus among investors regarding the support from industrial policies and the positive fundamentals in specific sectors [1][6] ETF Performance - As of January 31, 2026, 14 ETFs had their scales increase by over 10 billion yuan, including 7 stock ETFs, 4 commodity ETFs, 2 cross-border ETFs, and 1 bond ETF [3] - Notable increases in scale included the Huaan Gold ETF (335.4 billion yuan), Southern Nonferrous Metals ETF (242.17 billion yuan), and Huaxia Nonferrous Metals ETF (169.52 billion yuan) [4][7] - The stock ETFs that saw significant scale growth were primarily industry-focused, indicating a market signal for bullish sentiment in related sectors [5][6] Market Trends - The overall ETF fund flow in January 2026 reflected a structural shift, with significant net outflows from core broad-based ETFs and inflows into industry-specific ETFs and gold [9][10] - The A-share market experienced a transition from exuberance to cooling, with the Shanghai Composite Index surpassing 4100 points before entering a consolidation phase [9][11] Investment Strategies - Institutions suggest that the market in February will likely experience volatility, with a focus on "growth and cyclical" dual strategies while being cautious of overheating sectors [11][12] - Recommended investment strategies include focusing on global manufacturing recovery, traditional industry improvements, and technology growth, particularly in AI applications and robotics [12][13]

3家券商去年净利润超百亿 2026.02. 03 本文字数：2573，阅读时长大约4分钟 作者 | 第一财经 周楠 随着1月收官，上市券商年报预告披露的首个高峰期结束。得益于A股过去一年的震荡上行，券商经纪及自营业务显著增长，进而带动整体业绩回暖。 Wind统计显示，截至1月底，中信证券（600030.SH）等5家上市券商已披露2025年业绩快报，另有17家披露了当期业绩预告，合计占到上市券商总 数的五成左右。整体来看，上述22家券商业绩集体报喜，8家去年的归母净利润增幅预计超七成。 从目前的排名来看，"一哥"中信证券继续霸榜，2025年实现营收748.3亿元、归母净利润300.51亿元，同比双双增长。除此之外，实现逾百亿净利的 券商还有2家，国泰海通（601211.SH）预计去年归母净利润275.33亿元至280.06亿元，同期，招商证券（600999.SH）预计实现归母净利润123亿 元。此外，天风证券（601162.SH）去年有望扭亏，预计实现归母净利润1.25亿元至1.85亿元。 二级市场上，伴随A股震荡调整，即便有业绩利好的提振，证券板块近期表现仍较为平淡。但在业内看来，板块短期调整并非意味着行情终 ...

来源：市场资讯 据上交所官网显示，中铁七局泰和里持有型不动产资产支持专项计划已获受理，该项目原始权益人为中铁中产置业有限公司，计划管理人为招商证券股份 有限公司，拟发行规模为9.36亿元。 据了解，中铁·泰和里是全国首个提出"社区、景区、街区三区合一"创新模式的城市更新典范、河南首个沉浸式文商旅夜经济综合体，以"历史文脉活化 +复合业态创新"为核心，在7.5万平方米空间内打造六大主题IP，实现"一街一时代"的沉浸式场景。 中铁中产置业有限公司为世界500强企业中国中铁股份有限公司的全资子公司，中铁置业的核心成员，成立于2001年8月，隶属于中铁七局集团有限公司， 注册资金1亿元。公司总部设在河南郑州，主营业务为房地产开发。前公司正在开发建设的项目有位于郑州二七区的郑州中央商务区项目、西安浐灞生态 | 债券名称 | 中铁七局泰和里持有型不动产资产支持专项计划 | | --- | --- | | 品种 | ABS | | 拟发行金额(单位:亿元) | 9.36 | | 原始权益人 | 中铁中产置业有限公司 | | 计划管理人 | 招商证券股份有限公司 | | 交易所确认文件文号 | - | | 项目状态 | 已受 ...

上交所最新披露2026年1月A股新开户数据，数据显示，2026年首月投资者新开A股账户达492万户。 2026年1月A股市场实现开门红，三大核心指数全线收涨且量能创历史新高，叠加政策与资金双重利好，市场赚钱效应吸引。月末受节前资 金避险、获利盘出逃等因素影响，主要指数迎来回调，市场情绪有所降温，但新增资金入场的整体趋势未改，市场中长期信心依旧充足。 如何看待492万的新开户数？ 一是492万户同比去年1月157万户增长213%，环比去年12月260万户增长89%，增长幅度明显； 二是结合全年新开户数据来看，492万户高于2025年所有月份，在2024年的12个月份中，也仅低于10月的685万户； 三是回顾A股开户历史，492万户的月度开户数能够跻身近十年次高、历史第五高位，前四名分别是2015年4月的720万、2015年6月的 712万、2024年10月的685万以及2015年5月的674万。 | | | 2026年A股新开户数据/万户 | | | | --- | --- | --- | --- | --- | | 序号 | 月份 | 个人 | 机构 | 合计 | | 1 | 1月 | 490.5257 | ...

证券日报网讯 2月3日，中国交建在互动平台回答投资者提问时表示，公司持有金融资产核心为招商银 行、招商证券等，是深度参与国企改革的重要举措，也是基于战略布局的资产配置安排。公司将始终聚 焦主责主业、深化转型升级，致力于以稳健经营和良好业绩回馈投资者。 （编辑 任世碧） ...

Group 1 - The core viewpoint of the news is that 矽电股份 (301629.SZ) has announced a significant decline in its projected net profit for the year 2025, with estimates ranging from 46 million to 56 million yuan, representing a decrease of 39.04% to 49.93% compared to the previous year [1] - For the year 2024, 矽电股份 reported a net profit attributable to shareholders of 91.87 million yuan and a net profit of 87.36 million yuan after deducting non-recurring gains and losses [1] - The company’s performance forecast data is based on preliminary calculations by its financial department and has not been audited [1] Group 2 - 矽电股份 raised a total of 545.38 million yuan from its initial public offering, with a net amount of 463.53 million yuan after deducting issuance costs, which is 92.35 million yuan less than originally planned [2] - The company initially aimed to raise 555.88 million yuan for various projects, including probe station R&D, sorting machine technology development, marketing service network upgrades, and working capital supplementation [2] - The total issuance costs for the IPO amounted to 81.85 million yuan, excluding VAT, with underwriting and sponsorship fees accounting for 44.80 million yuan [2]

Market Overview - Technology stocks experienced a significant decline in early trading, leading to a drop in the three major indices, but rebounded near midday and maintained a volatile trend in the afternoon [1] - The Hang Seng Index ultimately rose by 0.22%, after dipping as much as 1.3% during the session [1] - The Hang Seng Tech Index fell by 1.07%, having previously dropped by 3.4% [1] Company Performance - Major technology stocks mostly turned negative, with Baidu down by 3.6%, Tencent nearly 3%, and Xiaomi, JD.com, and Alibaba also experiencing declines [1] - Gold prices surged in the afternoon, surpassing $4,900, leading to a rebound in gold stocks, with Zijin Mining International rising nearly 8% [1] - Heavy machinery stocks continued to rise, with Zoomlion increasing by 9.68%, and China National Heavy Duty Truck achieving a historical high during the session [1] - Domestic airline ticket bookings for the Spring Festival increased by approximately 8% year-on-year, boosting airline stocks, with China Eastern Airlines rising over 7% [1] Sector Performance - The mobile gaming sector faced significant declines, while AI application concept stocks, lithium battery stocks, domestic bank stocks, Chinese brokerage stocks, and automotive stocks showed some weakness, with China Merchants Bank and China Merchants Securities both dropping over 1% [1]