记者丨高江虹 免税零售专家平台创始人曹瑞杰认为，这项政策的发布， 标志着海南岛内居民消费进境商 品"零关税"政策正式落地实施。 该政策作为海南自贸港"一负三正"零关税清单体系中的最后 一张拼图，具有重要的里程碑意义。 编辑丨高梦阳 中国政府网2月5日发布消息，财政部、海关总署、税务总局联合印发《关于海南自由贸易港岛 内居民消费的进境商品"零关税"政策的通知》，自2月4日起实施。 该政策规定海南岛民每年 可购买1万元进口商品，包含202个税则号商品。 曹杰瑞表示，该202项清单作为海南自贸港封关运作后的首批岛内居民消费政策，预计后续会 根据实施情况动态调整， 预计每年调整幅度10—20%，逐步扩大至300—500项 ，期望未来纳 入小家电、智能家居、健身器材等升级型消费。 每人每年1万元限额 据介绍，政策规定，对海南自由贸易港岛内居民在指定经营场所购买的进境商品，在免税额度 和商品清单范围内免征进口关税、进口环节以及国内环节增值税和消费税。其中，岛内居民包 括持有海南省身份证、海南省居住证或海南省社保卡的中国公民，在海南省工作生活并持有居 留证件的境外人员。免税额度为每人每年1万元人民币，不限购买次数。免税商品 ...

Group 1 - The core viewpoint of the article indicates that the RMB appreciation has led to a decline in the related sectors, with a drop of 0.68% compared to the previous trading day, and the Shanghai Composite Index closing at 4075.92, down 0.64% [1] - The main beneficiaries of the RMB appreciation include companies like Caesar Travel and Zhongxin Tourism, which saw increases of 3.86% and 2.61% in their stock prices, respectively [1] - The leading decliner in the RMB appreciation beneficiary sector was Tongling Nonferrous Metals, which fell by 6.14% [2] Group 2 - The net outflow of main funds from the RMB appreciation beneficiary sector was 840 million yuan, while retail investors saw a net inflow of 696 million yuan [2] - The stock performance of various companies in the RMB appreciation beneficiary sector showed mixed results, with some companies like China Eastern Airlines and China Southern Airlines experiencing slight gains [1][2] - The trading volume for Tongling Nonferrous Metals was significant, with 7.39 million shares traded, resulting in a transaction amount of 5.379 billion yuan [2] Group 3 - The data indicates that the main net inflow for China Duty Free Group was 17.4 million yuan, while retail investors had a net outflow of 178 million yuan [3] - The stock of Zhongxin Tourism had a main net inflow of 85.04 million yuan, but retail investors experienced a net outflow of 106 million yuan [3] - The overall market sentiment reflected a cautious approach, with significant net outflows from several companies in the sector [3]

Group 1 - Changchun High-tech is expected to incur a loss of 1 billion in the fourth quarter due to product price adjustments, while investing over 2 billion annually in R&D to reduce reliance on growth hormones [1] - Vanke's losses are deepening, with a projected loss of 82 billion by 2025, and a bond extension of 6.8 billion as it seeks financial support [1] - GAC Group has issued a rare profit warning, expecting a loss between 8 billion to 9 billion, as CEO Feng Xingya emphasizes the "three major battles" for a turnaround [1] Group 2 - Nanhai Rural Commercial Bank was fined 3.8 million, with its net interest margin dropping to 1.15% after eight years of no results in the A-share market [1] - Yuanji Food is closing one out of every three new stores, with related party transactions amounting to 130 million involving the wife of its founder [1] - "Cheese Queen" Chai Xiu faced backlash from aggressive marketing strategies, leading to a 70% drop in the stock price of Miao Ke Lan Duo, with Mengniu taking full control [1] Group 3 - Zijin Mining is investing an additional 28 billion in overseas ventures, projecting a profit of 51 billion by 2025, with its market value stabilizing above 1 trillion [1] - Hunan Gold is restructuring 2.7 billion in assets to increase resource reserves, benefiting from rising prices of antimony and tungsten, achieving record profits exceeding 1.27 billion [1] - A major shareholder, Yu Han, was fined over 1 billion for manipulating stock prices, while Doctor Glasses spent 50 million on traffic acquisition but only 3 million on R&D [1] Group 4 - SAIC-GM-Wuling's debt ratio has risen to 85.24%, despite a 20.5% increase in sales, still falling short by 535,000 units compared to peak levels [1] - Su Nong Bank's "village reform branch" faced 18% opposition from minority shareholders, with total assets at 231.1 billion and revenue growth of only 0.41% [1] - Mingming Hen Mang opened 21,000 stores and distributed a pre-IPO dividend of 526 million, with Zhao Ding cashing out 130 million [1] Group 5 - Xibei's new round of financing received support from Zhang Yong and Hu Xiaoming, but the dream of a 100 billion market value faces challenges [1] - China Duty Free Group is acquiring 2.7 billion to build an international business platform, with performance declining for six consecutive quarters, and collaboration with LVMH remains to be observed [1] - Hikvision has returned to growth with an annual profit of 14.2 billion, enhancing cash collection management and recovering 13.7 billion in nine months [1]

资本市场，现在是冰火两重天。 买科技股的公募，最高年盈利233%，另一方面，持有老登股的基金经理们，逐渐被基民抛弃。 基金行业正在经历一轮大洗牌。本来嘛，基民的钱亏了，基金经理却还拿着高薪和奖金，管理费一分不 少，这事被吐槽很久了。 就在上个月，新规出来，一切都要改变。 文丨金融八卦女特约作者：兴华 · · · 除了医药女神，其他明星基金经理也有翻车的。 四季度，医药女神们纷纷扑街。还有基金持仓紧握老登股的基金经理，被爆出来自己偷偷买了很多科技 股赚了大钱，成了众矢之的。 业绩轮流翻车，去年的基金经理离职人数创下新高，已经达到453人。而基金经理总人数却在持续扩 大，很多年轻的基金经理，83%连上一轮牛市都没经历过。 整个基金行业，正在经历一轮大洗牌。 知名基金经理刘彦春的四季报，普遍亏损在5.8%-7.5%之间，最近五年基本上是腰斩。 尤其是基金的四季报一披露，不少医药女神都扑街了。张韡、赵蓓等管理的医药基都在四季度陷入了亏 损，把上半年的利润吐回去不少。 赵蓓管理的工银前沿医疗A第四季度跌了13.7%，年度回报17%。 张韡管理的添富创新医药A 第四季度跌了15.5%，年度回报为36%。 金笑非的鹏华医药 ...

每经AI快讯，中国中免(01880.HK)涨近3%，截至发稿，涨2.72%，报94.3港元，成交额2.08亿港元。 ...

消息面上，2月5日市场消息，随着离岛免税新政实施和海南自贸港封关运作正式启动，海南离岛免税购 物市场迎来"开门红"。据海口海关统计，2026年1月，海南离岛免税购物金额45.3亿元，购物人数56.0万 人次，购物数量336.7万件，同比分别增长44.8%、21.0%和14.0%。从购物群体来看，2026年首月，离境 旅客购买离岛免税商品1831.6万元；岛内居民"即购即提"购物金额1438.9万元。 值得一提的是，中国中免此前公告称，附属拟收购DFSCotaiLimitada全部已发行股本。长江证券指出， DFS港澳地区(9家)旅游零售门店业务，2024年，2025年前三季度，分别实现收入41.49亿元，27.54亿 元，净利润分别为1.28亿元，1.33亿元。收购资产并表后，将为上市公司带来利润端的直接贡献；未 来，也有望放大港澳门店渠道优势，实现规模突破。 中国中免（601888）(01880)涨近3%，截至发稿，涨2.72%，报94.3港元，成交额2.08亿港元。 ...

Core Viewpoint - The implementation of the new duty-free policy and the official launch of the Hainan Free Trade Port has led to a significant increase in the duty-free shopping market in Hainan, benefiting companies like China Duty Free Group (China CDF) [1] Group 1: Market Performance - China CDF's stock rose nearly 3%, with a current price of 94.3 HKD and a trading volume of 208 million HKD [1] - In January 2026, the duty-free shopping amount in Hainan reached 4.53 billion CNY, with 560,000 shoppers and 3.367 million items purchased, representing year-on-year growth of 44.8%, 21.0%, and 14.0% respectively [1] Group 2: Consumer Insights - In January 2026, outbound travelers purchased duty-free goods worth 18.316 million CNY, while local residents' "immediate purchase and pick-up" shopping amounted to 14.389 million CNY [1] Group 3: Strategic Developments - China CDF announced plans to acquire 100% of the issued share capital of DFS Cotai Limitada, which operates nine tourism retail stores in the Hong Kong and Macau regions [1] - According to Changjiang Securities, the DFS stores are projected to generate revenues of 4.149 billion CNY in 2024 and 2.754 billion CNY in the first three quarters of 2025, with net profits of 128 million CNY and 133 million CNY respectively [1] - The acquisition is expected to directly contribute to the company's profits and enhance its channel advantages in the Hong Kong and Macau markets, facilitating scale breakthroughs in the future [1]

36氪获悉，中国中免短线拉升涨超2%；消息面上，财政部发布关于海南自由贸易港岛内居民消费的进 境商品"零关税"政策的通知。 ...

Group 1 - Laplace's stock price surged by 105% since January 5, 2026, with a closing price of 73.90 yuan and a market capitalization of 29.48 billion yuan as of February 4 [1] - The company specializes in the research and sales of core equipment for high-efficiency photovoltaic cell production, achieving significant market share in thermal processing, coating, and automation equipment [3] - In January, 112 companies on the Sci-Tech Innovation Board received institutional research, with a focus on sectors such as semiconductors, medical devices, and specialized equipment [3] Group 2 - In January, 56 institutions conducted a total of 1,221 "buy" ratings covering 653 stocks, with 40 stocks receiving ratings from at least five institutions [4] - The banking and food and beverage sectors had the highest number of rated stocks, with 7 and 6 stocks respectively, as low valuation bank stocks attracted institutional attention [4] - The average return for billion-level quantitative private equity in 2025 reached 32.77%, with some firms achieving returns over 50% [5] Group 3 - Several small and medium-sized banks have raised deposit rates, while others have chosen to lower rates amid a declining market interest rate environment [6] - The total market capitalization of cryptocurrencies has decreased by approximately 467.6 billion dollars since January 29, despite supportive stances from the White House [7]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | --- | | 601888 | 中国中免 | 91.49 | -0.12% | | 26.53万 | | 24.18亿 | 从资金流向上来看，当日旅游零售板块主力资金净流出7200.42万元，游资资金净流入1.43亿元，散户资 金净流出7122.28万元。旅游零售板块个股资金流向见下表： 证券之星消息，2月4日旅游零售板块较上一交易日下跌0.12%，中国中免领跌。当日上证指数报收于 4102.2，上涨0.85%。深证成指报收于14156.27，上涨0.21%。旅游零售板块个股涨跌见下表： | 代码 名称 主力净流入 (元) 主力净占比 游资净流入 (元) 游资净占比 散户净占比 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 601888 中国中免 | -7200.42万 | -2.98% | 1.43亿 | 5.92% | -7122.28万 | -2.95 ...