本期，课题组重点关注理财公司发行的混合类产品，从代销渠道为投资者筛选出表现较优的在售产品。 为提供有效的选品参考，榜单展示了产品近一月、近三月及近六月的年化业绩，并按照近三月年化收益率进行排序，以此反映 其在近期市场波动中的多维度收益表现。 | 2 | EB1008 | 阳光橙优选基金宝 光大银行 | | 光大 | 72.0 | 26.1 | 42.2 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 理财 | 7% | 6% | 4% | | 3 | ZYHC24 | 幸福99卓越混合(多 | 杭州银行 | 杭银 | 82.6 | 24.4 | 29.6 | | | 05 | 元平衡)90天持有期 | | 理财 | 0% | 6% | 9% | | 4 | ZYHC23 | 幸福99 中華台(国 企红利精选FOF)10 杭州银行 | | 杭银 | 75.9 | 22.5 | 26.6 | | | 02 | 0天守有期 | | 理财 | 9% | 2% | 1% | | 5 | 100755 | 招智泓瑞多资产FO | 招商银行 | 招 ...

Core Insights - The report focuses on the performance of pure fixed-income products issued by wealth management companies, highlighting the best-performing products available for sale through various distribution channels [1][4] Group 1: Product Performance - The ranking of products is based on their annualized returns over the past month, three months, and six months, with a particular emphasis on the three-month annualized yield to reflect their performance amid recent market fluctuations [1] - A total of 28 distribution institutions are involved, including major banks such as Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and others [1] Group 2: Product Availability - The list of products is categorized as "available for sale," but actual availability may vary due to factors such as sold-out quotas or differences in product listings shown to different customers by banks [1] - Investors are advised to refer to the actual displays on the distribution bank's app for the most accurate information regarding product availability [1] Group 3: Data Source - The data presented in the report is sourced from the Nanfang Financial Terminal and Nanfang Wealth Management, with statistics as of January 30 [3][5]

"越来越多的人发现，南京不是一座普通的城市。"法国巴黎银行中国副董事长魏海诺难掩兴奋——外界 对南京的认可就是对法巴银行选择南京的肯定。 布局中国，南京分量凸显。在南京设区域总部、职能中心以及研发中心成为很多跨国公司深耕中国新趋 势。 "十五五"开局之年首月，南京不断出牌。以对外开放和国际交往倒逼高质量发展成为"南京方案"关键主 线。 1月28日，南京市市长率各区区长和多个职能部门在沪召开"智汇南京 共筑全球投资合作新生态"重点企 业新春座谈会。一批知名跨国企业总裁级别高管热情表态深耕中国，加码南京。南京的回应可浓缩为三 个词：自信、真诚、务实。 城市和企业的互动共同释放强烈信号，投资和发展的逻辑已从追求规模转向构筑生态，聚焦创新。新格 局新气象，南京进入城运勃发黄金时代。 南京王牌释放磁石效应 《毕马威2025年跨国企业中国展望》显示，94%的受访企业仍继续投资和押注中国市场，这在南京的这 场跨城座谈中得到充分彰显。 "结合德国技术的深度，利用中国的创新速度，拓展我们全球市场的广度。"马勒投资中国区总裁沈梁玉 介绍，面向"十五五"，马勒倚重南京成为链接全球创新的重要节点，原因在于南京手握三张王牌。第一 是产 ...

Core Viewpoint - The A-share market's banking sector experienced a counter-trend increase, with several banks showing significant gains despite overall market conditions [1]. Group 1: Stock Performance - CITIC Bank saw an increase of 3.48%, with a total market capitalization of 414 billion [2] - Shanghai Bank increased by 2.49%, with a market cap of 134.6 billion [2] - Huaxia Bank rose by 2.05%, with a market cap of 103 billion [2] - Other banks such as Industrial Bank, Everbright Bank, and Nanjing Bank also reported gains exceeding 1% [1][2] - Agricultural Bank, Industrial and Commercial Bank, and China Merchants Bank had market caps of 2386.9 billion, 2619.6 billion, and 2304.7 billion respectively, with slight increases [2] Group 2: Year-to-Date Performance - Year-to-date performance shows that most banks have negative returns, with CITIC Bank down 3.38% and Shanghai Bank down 6.24% [2] - Notably, Qingdao Bank has a positive year-to-date return of 17.86%, indicating strong performance relative to its peers [2] - Other banks like Agricultural Bank and Industrial Bank have year-to-date declines of 11.20% and 7.31% respectively [2]

Core Viewpoint - The A-share market has seen a rise in bank stocks, with several banks experiencing significant gains despite overall market trends [1] Group 1: Stock Performance - CITIC Bank increased by 3.48%, with a total market capitalization of 414 billion [2] - Shanghai Bank rose by 2.49%, with a market cap of 134.6 billion [2] - Huaxia Bank saw a gain of 2.05%, with a market value of 103 billion [2] - Industrial Bank increased by 1.98%, with a market cap of 403.6 billion [2] - Everbright Bank rose by 1.81%, with a total market capitalization of 199.7 billion [2] - Nanjing Bank increased by 1.52%, with a market cap of 132.2 billion [2] - Beijing Bank saw a rise of 1.51%, with a market value of 113.7 billion [2] - Agricultural Bank increased by 1.49%, with a market cap of 23,869 billion [2] - Industrial and Commercial Bank rose by 1.38%, with a market value of 26,196 billion [2] - Zhejiang Bank increased by 1.37%, with a market cap of 81 billion [2] - Bank of Communications rose by 1.36%, with a market value of 592.9 billion [2] - Shanghai Pudong Development Bank increased by 1.29%, with a market cap of 338.7 billion [2] - Qingdao Bank saw a rise of 1.15%, with a market value of 30.7 billion [2] - Bank of China increased by 1.12%, with a market cap of 17,496 billion [2] - Minsheng Bank rose by 1.07%, with a market value of 165.9 billion [2] - China Construction Bank increased by 1.03%, with a market cap of 23,047 billion [2] - Ping An Bank rose by 1.02%, with a market value of 212.3 billion [2] Group 2: Year-to-Date Performance - CITIC Bank has a year-to-date decline of 3.38% [2] - Shanghai Bank has decreased by 6.24% year-to-date [2] - Huaxia Bank has a year-to-date decline of 4.34% [2] - Industrial Bank has decreased by 9.45% year-to-date [2] - Everbright Bank has a year-to-date decline of 3.15% [2] - Nanjing Bank has decreased by 6.47% year-to-date [2] - Beijing Bank has a year-to-date decline of 1.82% [2] - Agricultural Bank has decreased by 11.20% year-to-date [2] - Industrial and Commercial Bank has a year-to-date decline of 7.31% [2] - Zhejiang Bank has decreased by 2.96% year-to-date [2] - Bank of Communications has a year-to-date decline of 7.45% [2] - Shanghai Pudong Development Bank has decreased by 18.25% year-to-date [2] - Qingdao Bank has increased by 17.86% year-to-date [2] - Bank of China has a year-to-date decline of 5.24% [2] - Minsheng Bank has decreased by 1.04% year-to-date [2] - China Construction Bank has a year-to-date decline of 5.06% [2] - Ping An Bank has decreased by 4.12% year-to-date [2]

每日经济新闻 截至2026年2月2日 10:25，中证银行指数(399986)强势上涨1.54%，成分股上海银行上涨3.25%，中信银 行上涨2.92%，兴业银行上涨2.46%，华夏银行，南京银行等个股跟涨。银行ETF华夏(515020)上涨 1.34%，最新价报1.67元。 2026年1月30日，证监会发布《关于修改〈证券期货法律适用意见第18号〉的决定（征求意见稿）》， 在2026年3月2日前公开征求意见。意见稿围绕《关于推动中长期资金入市的指导意见》核心思想，承接 落实《关于推动中长期资金入市工作的实施方案》中提出的"允许公募基金、商业保险资金、基本养老 保险基金、企（职）业年金基金、银行理财等作为战略投资者参与上市公司向特定对象发行股票"。 国泰海通证券分析认为，本次修改对上市银行而言，一方面拓宽了可能的权益补充资金来源，且在服务 企业投融资、居民财富管理和养老保障方面，有望进一步深化金融机构合作。另一方面，丰富了理财资 金参与权益投资方式，利好银行理财向多元资产转型。进而银行长期业绩增长可期，红利策略仍有望延 续。 数据显示，银行ETF华夏（515020）是跟踪中证银行指数(399986)综合费率最 ...

Banking Sector - The banking sector is expected to see three major catalysts in 2026: 1) Interest margins are likely to stabilize as new loan rates reach a low point, and deposit repricing effects will continue to improve banks' funding costs [6][7] 2) Risks related to real estate exposure are expected to have peaked, with significant progress in mitigating financial risks in the real estate sector [6] 3) Retail business may show marginal improvement as credit risks ease and wealth management activities are expected to activate [6][7] - Investment strategies for 2026 suggest focusing on four main lines: 1) Increase allocation to high-quality city commercial banks with strong earnings elasticity, recommending Hangzhou Bank and paying attention to Ningbo Bank, Nanjing Bank, Chongqing Bank, Qingdao Bank, and Xiamen Bank [5][7] 2) Allocate to high-dividend large banks, with a focus on Bank of China Hong Kong (H), CITIC Bank (H), China Construction Bank (H), and China Merchants Bank [5][7] 3) Pay attention to Shanghai Bank and Industrial Bank due to expected strong redemption of convertible bonds [5][7] 4) Consider banks with significant valuation discounts and potential for performance recovery, such as Minsheng Bank and Ping An Bank [5][7] Mechanical Equipment - The CDU liquid cooling pump is expected to benefit from the accelerated construction of AI data centers, as it plays a crucial role in regulating coolant flow and pressure, constituting 30%-40% of the liquid cooling system's value [9][10] - The market size for CDU liquid pumps is projected to reach between $1.139 billion and $1.544 billion in 2026, driven by the increasing demand for liquid cooling solutions as chip power exceeds the limits of air cooling [9][11] - The cooling source side of the liquid cooling system is also expected to benefit from the rapid development of AI data centers, with the global market for cooling water units projected to grow from approximately 105.21 billion yuan in 2024 to nearly 167.33 billion yuan by 2031 [10] Commercial Aerospace - SpaceX's application for an orbital data center system aims to reduce energy consumption from ground data centers, which may create significant incremental opportunities for rocket launch service providers and satellite manufacturers [22][24] - The acceleration of low Earth orbit satellite constellations is expected to drive domestic leading rocket launch service providers to actively expand their satellite constellation-related businesses, creating new growth opportunities in upstream supply chain segments [22][24] - The construction of orbital data centers is anticipated to significantly reduce energy consumption, benefiting both rocket launch service providers and satellite manufacturers [24] Fixed Income - The manufacturing PMI for January showed a significant seasonal decline, with the index at 49.3%, indicating a contraction in the manufacturing sector [14][15] - The service sector PMI slightly decreased, while the construction sector's activity index fell below 40%, indicating a need for further economic stabilization measures [19] - The credit market is expected to face structural opportunities despite a less favorable recovery outlook in February, with a focus on medium to high-rated city investment bonds [42][47] Airline Industry - Air China is projected to report a net loss of approximately 1.3 billion to 1.9 billion yuan for 2025, with Q4 losses expected to be between 3.17 billion and 3.77 billion yuan, indicating an increase in losses compared to the previous year [27][28] - Despite the projected losses, operational data for 2025 shows steady improvement, with available seat kilometers (ASK) and revenue passenger kilometers (RPK) increasing by 3.24% and 5.85% respectively [27][28] - The long-term demand for civil aviation in China is viewed positively, supported by the company's strong route network [28] Steel Industry - Fangda Special Steel is expected to see a significant increase in net profit for 2025, projected between 835 million and 998 million yuan, representing a year-on-year growth of 236.90% to 302.67% [31][32] - The growth is attributed to increased production and sales volumes, along with a decline in raw material costs, which have helped restore steel margins [31][32] - The company is focusing on refined management and cost reduction strategies, alongside potential asset injections from its parent group [32] Home Appliances - The home appliance industry is experiencing a decline in production and sales, particularly in the air conditioning and refrigerator segments, with significant year-on-year decreases reported [34] - The introduction of innovative products like Clawbot is expected to reshape the AI assistant market, enhancing consumer engagement and operational efficiency [35] - Companies like Ecovacs and Ninebot are projected to see substantial profit growth in 2025, driven by new product launches and increased market penetration [36]

中央纪委国家监委网站 刘远航 加强新时代廉洁文化建设，是推进党的自我革命必须长期抓好的重大政治任务。习近平总书记强 调，"要加强新时代廉洁文化建设""用廉洁文化滋养身心"。 近年来，纪检监察机关坚持系统观念，压实各地区各部门政治责任，建立统筹协调机制，将廉洁文化建 设纳入党风廉政建设和反腐败工作整体进行谋划，推动新时代廉洁文化建设走深走实。 督促党委（党组）履行主体责任，推动把新时代廉洁文化建设作为管党治党重要任务，牵头统筹谋划、 部署推进。福建省南安市纪委监委加强监督，推动各级党组织特别是"一把手"等"关键少数"深学细悟习 近平总书记关于加强新时代廉洁文化建设的重要论述，筑牢思想根基；督促各部门各单位健全领导领学 促学、全员跟学互学的全覆盖廉洁教育机制，持续增强党员干部崇廉拒腐的思想自觉和行动自觉，夯实 加强新时代廉洁文化建设的思想基础。 江苏省南京市纪委监委派驻南京银行纪检监察组把抓好新时代廉洁文化建设作为履职尽责的重要内容， 压实驻在单位党委牵头抓总责任，推动南京银行党委对加强新时代廉洁文化建设作出安排部署，制定印 发实施意见，围绕完善制度机制、构建教育体系、营造良好氛围等方面细化18项具体举措。 注重 ...

点击注册小程序 查看完整报告 特别申明： 截至2026年1月30日，宽基指数来看，中证500、中证1000、创业板指处于估值分位数"适中"等级，上证指 数、上证50、沪深300处于估值分位数"危险"等级。 中信一级行业分类来看，食品饮料、非银行金融处于估值分位数"安全"等级。 截面波动率来看，沪深300、中证500、中证1000指数成分股横截面波动率环比前一周上升，短期Alpha环 境好转。 时间序列上来看，最近一周沪深300指数成分股时间序列波动率环比前一周上升，Alpha环境好转；中证 500中证指数成分股时间序列波动率环比前一周无变化，Alpha环境保持不变；1000指数成分股时间序列波 动率环比前一周下降，Alpha环境恶化。 资金面跟踪： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 本周市场核心观点： ...

又是一年"春之约"。1月31日，以"向新向优 笃行致远"为主题的第四届江苏财经年会如约而至。在这 里，来自全省政学金企的百余位代表们齐聚一堂，伴随着"2025年江苏十大财经热词""2025江苏十大财 经事件"的发布，回顾过去，展望未来；在这里，一场场"新质朋友圈"对话，启迪企业发展新的思路； 在这里，旧友新朋，共话合作，共谋发展。 本届财经年会由新华报业传媒集团和南京银行主办，江苏新华日报财经传媒有限公司承办、江苏汤沟两 相和酒业有限公司协办，江苏省体育产业指导中心、江苏省发展研究中心、江苏省战略与发展研究中 心、江苏省经济和信息化研究院、中国式现代化研究院、江苏省知识产权保护中心和中国质量认证中心 南京分中心联办。 （来源：新华日报） 本版统筹：陈晓春 赵伟莉 本期周刊选取了第四届江苏财经年会的部分参会企业，倾听他们科技创新的故事、企业发展的故事。 ...