转自：新华财经 •商务部回应近期将举行第六轮中美经贸磋商 •市场监管总局新规要求外卖增设"无堂食"专项标识 •中国人民银行：进一步支持境内银行业金融机构与境外机构开展人民币跨境同业融资业务 •伊朗外长：美伊日内瓦谈判取得"良好进展" 新一轮谈判预计于下周举行 •2026年国家药品抽检工作会在长沙召开。会议指出，各级药品监管部门和药检机构务实创新、通力合作，持续提升药品抽检科学性和靶向性，风险排查更 加细致深入，线索处置更加严格高效，有力维护群众用药安全，为保障全国药品安全形势稳定向好、助推医药产业高质量发展提供坚实的专业支撑。(新华 财经） •东方财富26日晚间公告称，接到公司控股股东、实际控制人其实通知，为支持教育事业发展，促进人才培养及科技创新，其实计划向上海交通大学教育发 展基金会捐赠其持有的公司2000万股无限售流通股，占公司总股本的0.13%。(新华财经） •当地时间2月25日，津巴布韦矿业部发文称，已暂停所有原矿和锂精矿的出口，即刻生效。上市公司盛新锂能、中矿资源、天华新能、雅化集团等均在津巴 布韦有锂矿等布局。华友钴业相关负责人表示，此次津巴布韦的"禁令"主要是对违规出口的监管，公司的采矿证是当 ...

Group 1 - China and the US are maintaining communication through the economic consultation mechanism, aiming for stable and sustainable development of bilateral trade relations [2] - German Chancellor Merz's visit to China resulted in over ten commercial agreements, emphasizing cooperation in AI and other advanced fields [3][51] - China has implemented export controls on Japan to prevent its militarization and nuclear ambitions, reflecting concerns over regional peace [4][52][53] Group 2 - The deployment of 11 US F-22 stealth fighters in Israel marks a significant military presence in the Middle East [5][54] - Indirect negotiations between the US and Iran have reportedly made significant progress, with further discussions scheduled [7][55] - China's AI model usage surged, surpassing the US for the first time, with a notable increase in model calls [8][56] Group 3 - New regulations for online food safety will take effect on June 1, requiring platforms to take responsibility for food safety throughout their operations [9][57] - The offshore RMB has appreciated significantly, breaking the 6.83 mark, indicating a strong upward trend in the currency [10][58] - Shanghai's gold recovery industry may soon require mandatory real-name registration to enhance security and traceability [11][59] Group 4 - Ctrip Group announced a change in leadership, with the resignation of its president and a significant increase in revenue for Q4 2025 [16][62] - The Guotou Ruijin silver fund compensation process has begun, with over 10,000 users engaging in the resolution process via an online platform [17][63] - The rumor regarding Sanzi Yang's successful backdoor listing has been officially denied, clarifying the company's current status [18][64] Group 5 - Nvidia reported record revenue for Q4 2026, driven by its data center business, which has seen substantial growth since the launch of ChatGPT [19][66] - Longcheng High-tech's new drug for treating boys' developmental issues has led to a significant increase in its stock price, reflecting market excitement [22][68] - The actual controller of Dongfang Fortune plans to donate a substantial amount of shares to Shanghai Jiao Tong University, highlighting corporate social responsibility [23][69]

Core Viewpoint - The news highlights significant financial performance updates from various companies for the year 2025, showcasing both growth and recovery in net profits across multiple sectors, alongside notable corporate actions such as stock issuance and restructuring efforts. Performance Highlights - Huaming Equipment reported a net profit of 710 million yuan for 2025, a year-on-year increase of 15.54%, with a proposed cash dividend of 2.1 yuan per 10 shares [4] - Ziji Shenzhou achieved a net profit of 1.422 billion yuan for 2025, marking a turnaround from a previous loss [4] - Bingchuan Network posted a net profit of 479 million yuan for 2025, recovering from a loss of 247 million yuan in the previous year [5] - Zhenmao Technology's net profit surged by 582.01% to 133 million yuan [6] - Zhimingda's net profit increased by 466.74% to 110 million yuan [7] - Sanyou Medical reported a net profit of 63.29 million yuan, up 451.85% [8] - Baiaosaitu's net profit grew by 416.37% to 173 million yuan [9] - Green Harmony's net profit rose by 122.4% to 125 million yuan [10] - Juxin Technology's net profit increased by 91.95% to 205 million yuan [11] - Qiangyi Co. reported a net profit growth of 70.73% to 398 million yuan [12] - Nawei Technology's net profit increased by 64.18% to 136 million yuan [13] - Ailis reported a net profit of 2.181 billion yuan, up 52.55% [14] - Zhongchumei's net profit grew by 45.55% to 212 million yuan [15] Corporate Actions - Mingde Electronics plans to raise up to 1 billion yuan through a private placement for semiconductor projects and working capital [11] - Longpan Technology's private placement application was approved by the Shanghai Stock Exchange [11] - Guangxun Technology's private placement application was approved by the Shenzhen Stock Exchange [11] - Wangli Security decided to terminate its simplified procedure for issuing shares to specific investors for 2024 [11] - Debang Logistics applied to withdraw its stock from the Shanghai Stock Exchange and transition to the National SME Share Transfer System [12] - Dongfang Fortune's controlling shareholder plans to donate 20 million shares to Shanghai Jiao Tong University [12] - Duorui Pharmaceutical confirmed the results of a tender offer acquisition, with significant shareholding changes [12] Major Events - ST Huawen's restructuring application was accepted by the court, leading to a risk warning for its stock [3] - ST Jinglan's stock was suspended for trading due to significant price fluctuations unrelated to company performance [2] - Tianli Lithium Energy's subsidiary resumed production after completing maintenance [14] - ST Dali signed a procurement framework agreement with a leading new energy company, valued at approximately 888.79 million yuan [14]

Group 1: AI Industry Developments - In February, China's AI model invocation volume surged, surpassing the US for the first time, with 41.2 trillion tokens compared to the US's 29.4 trillion tokens during the week of February 9-15 [1] - The following week, China's model invocation further increased to 51.6 trillion tokens, marking a 127% rise over three weeks, while the US's invocation dropped to 27 trillion tokens [1] - Four out of the top five global AI models are from China, indicating a collective rise of Chinese AI firms rather than reliance on a single product [1] Group 2: Financial Market Trends - The Hang Seng Tech Index fell by 2.87%, reaching a new low since July, down over 23% from its peak in October [2] - UBS analysts suggest that concerns over AI may create buying opportunities, as Chinese tech giants' capital expenditures are currently lower than their US counterparts [2] - UBS increased its weight on Tencent by 3 percentage points and adjusted weights for other companies like Bilibili and Meituan, while reducing allocations for Vipshop and Alibaba [2] Group 3: Corporate Earnings - Baidu reported Q4 revenue of 32.74 billion RMB, slightly above market expectations, with a quarter-on-quarter growth of 5% and an annual total revenue of 129.1 billion RMB [4] - The intelligent cloud infrastructure segment showed significant growth, with Q4 revenue reaching 5.8 billion RMB and AI high-performance computing subscription revenue increasing by 143% year-on-year [4] Group 4: Currency and Trade - The offshore RMB rose for three consecutive days, surpassing 6.83 against the USD, attributed to improved US-China trade relations and a weaker dollar due to investigations into the Federal Reserve [7] - The recent appreciation of the RMB is also linked to the release of accumulated settlement demand from high export growth [7] Group 5: Lithium Market Insights - Zimbabwe's mining department announced a temporary suspension of all raw and lithium concentrate exports, but industry analysts expect exports to resume within 1 to 4 weeks, with companies reporting sufficient raw material inventories [8] Group 6: Regulatory Changes - The State Administration for Market Regulation has issued new regulations to combat ghost restaurants and false qualifications in the food delivery sector, mandating real-name registration and substantive checks on food business licenses [9]

Group 1: Company Performance - BeiGene reported a total revenue of 38.205 billion yuan for 2025, a year-on-year increase of 40.4%, with a net profit of 1.422 billion yuan, marking a return to profitability [1] - Chipone Technology achieved a revenue of 3.152 billion yuan in 2025, up 35.77% year-on-year, with a narrowed net loss of 528 million yuan compared to a loss of 601 million yuan in the previous year [2] - Purans reported a total revenue of 2.32 billion yuan for 2025, a year-on-year increase of 28.62%, with a net profit of 208 million yuan, down 28.79% year-on-year [4] - Zhenray Technology saw a net profit increase of 582.01% in 2025 [11] - Jinlongyu reported a net profit increase of 26.01% in 2025 [12] Group 2: Product and Market Insights - BeiGene's product revenue reached 37.77 billion yuan, driven by sales growth of its products including Brukinsa and Tislelizumab [1] - Chipone Technology's mass production business revenue is expected to grow by 73.98%, with AI-related orders accounting for over 73% of new orders [2] - Purans' revenue growth was attributed to favorable changes in the storage chip market and increased demand for its products [4] Group 3: Strategic Developments - Huadian Electric is planning to sell its subsidiary Huangshi Supply Chain Management Co., Ltd. to focus on its core business [3] - Chipone Technology signed new orders worth 5.96 billion yuan, a 103.41% increase year-on-year [2] - Feilihua is in the testing phase for its ultra-thin quartz electronic cloth, which is expected to contribute about 5% to its overall revenue in 2025 [5]

今日聚焦 1、中微半导：初步确定的本次询价转让价格为43.35元/股 中微半导2月26日公告，根据2026年2月26日询价申购情况，初步确定的本次询价转让价格为43.35元/ 股。参与报价及申购的机构投资者家数为36家，合计有效认购股份数量为1498.6万股，对应的有效认购 倍数为1.87倍。本次询价转让拟转让股份已获全额认购，初步确定受让方为28家机构投资者，拟受让股 份总数为800.73万股。 2、德邦股份：向上交所提出终止上市申请 德邦股份2月26日公告，公司拟以股东会决议方式主动撤回A股股票在上海证券交易所的上市交易，并 申请股票进入全国中小企业股份转让系统退市板块继续交易。该事项已通过公司2026年第一次临时股东 会审议。公司已向上交所提交相关申请，尚需上交所决定是否受理。公司聘请中信证券和北京世辉律师 事务所作为财务和法律顾问，分别发表了意见。本次终止上市事项最终能否通过相关审批及实施尚存在 不确定性，敬请广大投资者关注后续公告并注意投资风险。 3、多瑞医药：王庆太、曹晓兵要约收购期满 公司股票将于2026年2月27日复牌 多瑞医药2月26日公告，公司股票将于2026年2月27日复牌。在2026年 ...

| 行情 | 资金净流入 | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 科创综指 | | 4146.63 | 14503.79 | 1843.20 | | -0.60 -0.01% | +27.92 +0.19% | +23.48 +1.29% | | 万得全A | 创业板指 | 北证50 | | 6914.39 | 3344.98 | 1544.91 | | +14.40 +0.21% -9.84 -9.84 -0.29% | | -2.29 -0.15% | | 沪深300 | 中证500 | 中证A500 | | 4726.87 | 8557.22 | 5961.51 | | -9.01 -0.19% | +29.66 +0.35% | -5.79 -0.10% | | 中证1000 | 深证100 | 中证红利 | | 8490.62 | 5937.55 | 5768.92 | | +64.29 +0.76% | 0.00 0.00% | -0.29% -16.65 | | 万得全A涨跌分布 | | | 算力板块爆发，多只CPO概念股2025年业绩亮眼。 今 ...

Group 1 - Tianhao Energy has obtained a loan commitment letter from Industrial Bank for a stock repurchase, with a borrowing limit of up to RMB 90 million, which is 90% of the repurchase amount [2] - Debang Co. has applied to terminate its listing on the Shanghai Stock Exchange and plans to continue trading on the National Equities Exchange and Quotations system [3] - Feilihua expects that revenue from its quartz electronic cloth business will account for about 5% of total revenue by 2025, indicating a small impact on overall performance [4] Group 2 - Tianli Lithium has completed maintenance on its lithium iron phosphate production line and has resumed production as of February 24, 2026 [5] - Zhongwei Semiconductor has set a preliminary transfer price of RMB 43.35 per share for its recent inquiry, with a total of 36 institutional investors participating [6] Group 3 - Shenzhou Taiyue reported a net profit of RMB 798 million for 2025, a decrease of 44.09% year-on-year, with total revenue of RMB 5.824 billion, down 9.74% [8] - Zhenlei Technology achieved a net profit of RMB 133 million in 2025, a significant increase of 582.01% year-on-year, with total revenue of RMB 432 million, up 42.3% [9] - CanSino reported a net profit of RMB 27.87 million for 2025, recovering from a loss of RMB 379 million in the previous year, with total revenue of RMB 1.068 billion, up 26.18% [10] - Zhongchumai reported a net profit of RMB 212 million in 2025, an increase of 45.55% year-on-year, with total revenue of RMB 856 million, up 28.37% [11] - Puranshi reported a net profit of RMB 208 million in 2025, a decrease of 28.79% year-on-year, with total revenue of RMB 2.32 billion, up 28.62% [12] - Nami Technology achieved a net profit of RMB 136 million in 2025, a growth of 64.18% year-on-year, with total revenue of RMB 925 million, up 18.18% [13] - Longxun Co. reported a net profit of RMB 172 million in 2025, an increase of 19.05% year-on-year, with total revenue of RMB 568 million, up 21.93% [14] - Longtu Guozhao reported a net profit of RMB 57.99 million in 2025, a decrease of 36.86% year-on-year, with total revenue of RMB 247 million, up 0.06% [15] - Jingwei Hengrun reported a net profit of RMB 99.54 million in 2025, recovering from a loss of RMB 550 million in the previous year, with total revenue of RMB 6.848 billion, up 23.59% [16] - Chip Origin reported a net loss of RMB 528 million in 2025, with total revenue of RMB 3.152 billion, up 35.77% [17] Group 4 - Xinyaqiang announced that shareholders plan to reduce their holdings by up to 4% of the total shares [19] - China Merchants Energy announced that four directors and senior management plan to reduce their holdings by up to 648,600 shares [20] - Weir Pharmaceutical announced that a shareholder plans to reduce its holdings by up to 0.33% of the total shares [21] Group 5 - *ST Dali signed a framework agreement for equipment procurement with a leading new energy company, with a contract value of approximately RMB 88.88 million, accounting for 32.34% of the company's audited revenue for 2024 [23]

中信证券股份有限公司 关于 德邦物流股份有限公司 主动终止上市的财务顾问意见 二〇二六年二月 重要提示 德邦物流股份有限公司（以下简称"德邦股份"）拟以股东会决议方式主动 撤回 A 股股票在上海证券交易所的上市交易，并在取得上海证券交易所终止上 市决定后申请在全国中小企业股份转让系统退市板块继续交易。 中信证券股份有限公司接受德邦股份的委托，担任本次德邦股份申请以股东 会决议方式主动终止上市的财务顾问，依照相关法律法规规定，按照行业公认的 业务标准、道德规范，本着诚实信用和勤勉尽责的原则，在审慎调查的基础上出 具财务顾问意见。 德邦股份已声明向本财务顾问提供了为出具本财务顾问意见所必需的资料， 保证所提供的资料真实、准确、完整，不存在任何虚假记载、误导性陈述或重大 遗漏，并承诺对所提供资料的合法性、真实性和完整性承担全部责任。 本财务顾问意见不构成对德邦股份的任何投资建议，对投资者根据本意见所 作出的任何投资决策可能产生的风险，本财务顾问不承担任何责任。 本财务顾问提请广大投资者认真阅读德邦股份以股东会决议方式主动终止 上市相关公告文件。 1 | 重要提示 | | 1 | | --- | --- | --- ...

德邦物流股份有限公司 关于股票在上海证券交易所终止上市后去向安排的说明 为了更好地顺应物流行业的发展趋势，更为高效、有力地统筹协调与整合 JD Logistics, Inc.（京东物流股份有限公司）体系内的物流资源，亦考虑积 极践行德邦物流股份有限公司（以下简称"德邦股份"或"公司"）间接控股股 东宿迁京东卓风企业管理有限公司于收购德邦股份时作出的关于同业竞争的承 诺，公司实施本次以股东会决议方式主动撤回 A 股股票在上海证券交易所（以 下简称"上交所"）的上市交易，并申请股票进入全国中小企业股份转让系统 退市板块继续交易（以下简称"本次终止上市"）。 公司本次终止上市后去向安排的具体情况如下： 一、公司已履行必要的内部决策程序 公司已履行了现阶段必要的公司本次终止上市的审议程序： 1. 2026 年 1 月 13 日，德邦股份召开第六届董事会第四次独立董事专门会 议，审议通过《关于以股东会决议方式主动终止公司股票上市事项的议案》； 2. 2026 年 1 月 13 日，德邦股份召开第六届董事会第十三次会议，审议通 过《关于以股东会决议方式主动终止公司股票上市事项的议案》《关于公司股票 终止上市后聘请代办机构 ...