| 离任高级管理人员职务 | 副总经理 | | --- | --- | | 离任高级管理人员姓名 | 朱前 | 瑞财经 王敏 1月26日，华泰证券（上海）资产管理有限公司（以下简称"华泰资管"）高级管理人员变更公告，江晓阳正式出任董事长，朱前 升任总经理，刘博文兼任首席风险官。 江晓阳于2001年进入华泰证券股份有限公司，曾在华泰证券股份有限公司广州体育东路证券营业部、北京月坛南街证券营业部、金融创新 部、证券投资部等部门任职。 | 离任高级管理人员职务 | 总经理 | | --- | --- | | 离任高级管理人员姓名 | 江晓阳 | | 离任原因 | 职务调整 | | 离任日期 | 2026年1月23日 | | 转任本公司其他工作岗位的说明 | 董事长 | 2024年1月，江晓阳进入华泰证券（上海）资产管理有限公司，现任华泰证券（上海）资产管理有限公司董事长（代）、董事、总经理。 2025年上半年，华泰资管企业ABS发行数量77单，排名行业第一，发行规模为589.46亿元，排名行业第四。 | 离任原因 | 职务调整 | | --- | --- | | 离任日期 | 2026年1月23日 | | 转任本公 ...

截至1月26日，化工行业ETF易方达(516570)最新规模、最新份额均创成立以来新高。 从资金净流入方面来看，化工行业ETF易方达(516570)近7天获得连续资金净流入，最高单日获得 6218.06万元净流入，合计"吸金"2.05亿元。 华泰证券认为，油价或已进入筑底反弹阶段，叠加美联储降息对需求拉动，亚非拉地区成品油需求或景 气上行，上调2026年布伦特均价为65美元/桶（前值62美元/桶）。长期而言，考虑主要产油国边际成本 及"利重于量"诉求，油价中枢存60美元/桶底部支撑。具备增产降本能力及天然气业务增量的能源龙头 企业或将显现配置机遇；油价筑底后库存损失减少，炼化有望迎来盈利低迷下的景气反转。 截至2026年1月27日 09:35，中证石化产业指数(H11057)强势上涨1.12%。化工行业ETF易方达(516570)上 涨0.98%，成交额迅速走阔。 化工行业ETF易方达（516570，场外联接A/C: 020104/020105）一键打包三桶油、万华化学等石油石 化、基础化工产业龙头，跟踪的中证石化产业指数指数构成接近于石化化工板块中哑铃策略标的，同时 涵盖高股息+高成长成份券，2023年以来 ...

（文章来源：新华财经） 新华财经北京1月27日电华泰证券最新研报指出，2026年1月以来，委内瑞拉、伊朗等地缘紧张局势再次 引发市场供应风险担忧，1月23日WTI/Brent期货价格收于61.07/65.88美元／桶，较12月末上涨 6.4%/8.3%。地缘溢价已导致淡季油价筑底反弹，随着需求回升及全球性储备性累库，2026年第二至第 三季度油价有望见底上探，叠加美联储降息对需求拉动，亚非拉地区成品油需求或景气上行，上调2026 年布伦特原油均价为65美元／桶（前值62美元／桶）。长期而言，考虑主要产油国边际成本及"利重于 量"诉求，油价中枢存60美元／桶底部支撑。具备增产降本能力及天然气业务增量的能源龙头企业或将 显现配置机遇；油价筑底后库存损失减少，炼化有望迎来盈利低迷下的景气反转。 ...

｜2026年1月27日星期二｜ NO.1券商资管公司公募管理规模去年增长显著，千亿元级阵营扩容至5家 近日，随着公募基金2025年四季报披露完毕，各家券商及券商资管公司(以下统称"券商资管")的最新公 募基金管理规模也浮出水面。截至2025年末，共有5家券商资管公司公募基金管理规模在千亿元以上。 其中，东方红资产管理以2162.68亿元的管理规模居于榜首，较2024年末增长30.05%。其次是华泰证券 资管，管理规模为1808.28亿元，较2024年末增长29.15%。中银证券、财通资管的管理规模也排名居 前，分别为1339.33亿元、1197.6亿元，均较2024年末出现小幅下滑，降幅分别为1.88%、7.47%。得益 于并购整合，国泰海通资管管理规模为1110.58亿元，跻身管理规模千亿元行列，较2024年末增长 37.6%。长江资管、山证资管管理规模分别为390.98亿元、370.83亿元，较2024年末增长47.39%、 49.04%。 点评：券商资管公募规模扩容凸显财富管理转型成效，龙头机构凭借品牌效应持续吸纳资金，头部效应 强化。并购整合加速行业洗牌，中小机构需差异化竞争。长期看，资管业务实力提升 ...

｜2026年1月27日 星期二｜ NO.1 券商资管公司公募管理规模去年增长显著，千亿元级阵营扩容至5家 近日，随着公募基金2025年四季报披露完毕，各家券商及券商资管公司（以下统称"券商资管"）的最新 公募基金管理规模也浮出水面。截至2025年末，共有5家券商资管公司公募基金管理规模在千亿元以 上。其中，东方红资产管理以2162.68亿元的管理规模居于榜首，较2024年末增长30.05%。其次是华泰 证券资管，管理规模为1808.28亿元，较2024年末增长29.15%。中银证券、财通资管的管理规模也排名 居前，分别为1339.33亿元、1197.6亿元，均较2024年末出现小幅下滑，降幅分别为1.88%、7.47%。得 益于并购整合，国泰海通资管管理规模为1110.58亿元，跻身管理规模千亿元行列，较2024年末增长 37.6%。长江资管、山证资管管理规模分别为390.98亿元、370.83亿元，较2024年末增长47.39%、 49.04%。 点评：券商资管公募规模扩容凸显财富管理转型成效，龙头机构凭借品牌效应持续吸纳资金，头部效应 强化。并购整合加速行业洗牌，中小机构需差异化竞争。长期看，资管业务实力 ...

Group 1: Fixed Income and Economic Indicators - The core high-frequency index is at 129.6 points, with a year-on-year increase of 6.0 points [3] - The industrial production high-frequency index is 128.1, with a year-on-year increase of 4.8 points [3] - The inventory high-frequency index is 164.3, showing a year-on-year increase of 7.5 points [3] - The transportation high-frequency index is 135.1, with a year-on-year increase of 11.3 points [3] - The financing high-frequency index is 248.4, with a year-on-year increase of 31.2 points [3] Group 2: Non-Banking Financial Sector - The public fund performance benchmark has been officially released, indicating short-term market fluctuations do not alter the long-term positive trend [4] - The insurance sector is expected to benefit from long-term trends despite short-term adjustments due to regulatory stability [4] - The securities sector is experiencing high trading activity and is expected to benefit from increased market risk appetite [4] Group 3: Coal Industry - The company aims to become a leading private coal supplier in China, with coal mines located in Inner Mongolia, Ningxia, and South Africa [6] - The company has a strong cost control capability, with a projected gross profit margin of 60% per ton of coal by 2024, ranking first among 17 major listed coal companies [6] - The company has acquired 100% of Ningxia Power Mining, which is expected to add 210,000 tons per year in coking coal capacity [7] - The company has signed a cooperation agreement for the Roti Fengke titanium ore project, expected to generate a gross profit of $80 million [9] - Revenue projections for the company are estimated at 4.834 billion, 6.013 billion, and 6.553 billion yuan for 2025-2027, with corresponding net profits of 1.237 billion, 1.680 billion, and 2.404 billion yuan [10] Group 4: Environmental Monitoring and Policy - Recent policies indicate a shift towards collaborative remediation and development of polluted sites, creating opportunities in soil remediation and environmental consulting [11] - The introduction of differentiated management for air quality performance is expected to provide incentives for companies to transition towards greener practices [11] Group 5: E-commerce and Delivery Services - The new national subsidy policy is expected to improve demand for JD's retail segment, particularly in home appliances and digital products [13] - The company is expanding its delivery service, with a focus on improving user experience and reducing costs [14] - Revenue forecasts for JD are projected at 1.3074 trillion, 1.3755 trillion, and 1.4699 trillion yuan for 2025-2027, with a significant focus on the impact of the new subsidy policy [15] Group 6: Electronics and Storage Solutions - The company anticipates a revenue growth of over 40% in 2025, driven by increased demand for enterprise-level storage products [16] - The company has entered a growth phase with its proprietary brand, Haipu Storage, which is expected to achieve profitability in 2025 [16] - The company has secured AMD distribution rights, enhancing its competitive position in the AI and high-performance computing sectors [18]

【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 本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 【地缘紧张致油价反弹，华泰上调2026年布油均价】2026年1月以来，委内瑞拉、伊朗等地缘紧张局势 重燃市场对供应风险的担忧。1月23日，WTI/Brent期货价格收于61.07/65.88美元/桶，较2025年12月末上 涨6.4%/8.3%。 华泰证券指出，地缘溢价使淡季油价筑底反弹。随着需求回升和全球性储备性累库， 2026年二季度至三季度油价有望见底上探。 叠加美联储降息拉动需求，亚非拉地区成品油需求或景气 上行。华泰上调2026年布伦特均价至65美元/桶，前值为62美元/桶。 ...

Group 1 - Huatai Securities indicates that since mid-January, despite high outflows from broad-based ETFs, there remains incremental investment from insurance funds and an arbitrage demand from investors, suggesting continued market momentum [1] - The rotation of investment focus is expected to shift from thematic stocks to those with performance verification, particularly in industries with sustainable recovery capabilities, such as the price increase chain, high-end manufacturing, and AI chain [1] - Specific sectors to consider for allocation include electric equipment, basic chemicals, and semiconductor equipment, with a moderate increase in allocation towards cyclical dividends [1] Group 2 - CITIC Securities reports that the Indonesian government is expected to reduce nickel ore production quotas for 2026 to 250 million to 260 million tons, a significant decrease from 2025 [2] - If the 2026 production quota is implemented, Indonesia's nickel output may decline to 2.6 million to 2.7 million tons, leading to a global nickel supply shortage of 200,000 tons, which could push LME nickel prices up to $22,000 per ton [2] - The tightening regulatory stance of Indonesia towards the mining industry is likely to slow the growth rate of nickel production, indicating a gradual recovery in nickel prices from the bottom [2] Group 3 - Huatai Securities anticipates that the Federal Reserve is likely to pause interest rate cuts in January, maintaining its forward guidance for December 2025, with limited new information expected [3] - Attention is drawn to Powell's statements regarding the interest rate path, the independence of the Federal Reserve, and whether he will remain as a board member [3]

Group 1 - The public fund market has seen rapid growth, with total net asset value reaching 37.49 trillion yuan as of January 26, 2025, a 14.03% increase compared to the same period in 2024 [2] - Five brokerage asset management companies have surpassed 100 billion yuan in public fund management scale by the end of 2025, with Dongfanghong Asset Management leading at 216.27 billion yuan, a 30.05% increase from 2024 [2] - Several smaller brokerage asset management firms have shown significant growth, with Changjiang Asset Management and Shanzheng Asset Management increasing their management scales by 47.39% and 49.04%, respectively [2][3] Group 2 - Different institutions have distinct product structures, with non-monetary market funds dominating the management products of Dongfanghong Asset Management, Zhongyin Securities, and Caitong Asset Management, while Huatai Securities has over 85% of its products in monetary market funds [3] - Brokerages are actively exploring differentiated development paths in the public fund sector, with some increasing their stakes in public fund companies to enhance control and improve business synergy [4] - Companies are focusing on expanding their product lines and enhancing their capabilities in active equity products, with a particular emphasis on technology themes and the STAR Market [4][5]

Core Viewpoint - The article highlights the impending maturity of 50 trillion yuan in term deposits by 2026, leading to a competitive search for alternative investment products as traditional bank deposit rates have plummeted below 2% [1] Group 1: Market Dynamics - A significant number of households are facing reduced interest rates on their deposits, with rates dropping from over 3% to below 2% [1] - The upcoming maturity of 50 trillion yuan in one-year and longer term deposits is expected to intensify competition among financial products [1] Group 2: Investment Alternatives - Many depositors are actively seeking stable alternative investment products, referred to as "deposit substitutes," to achieve better returns [1] - Financial institutions, particularly wealth management subsidiaries, are launching low-risk "fixed income+" products to attract these depositors [1] Group 3: Competitive Strategies - Internet banks like WeBank and MyBank are initiating promotional activities to capture the market for alternative investment products [1] - The competition is characterized by a focus on low volatility assets while aiming to enhance returns for customers [1]