Market Overview - As of last weekend, the total scale of equity ETFs in the market reached 48,892.36 billion yuan, with a decrease of 2,906.25 billion yuan in total scale over the past week, and a reduction of 479.65 billion units, resulting in a net outflow of 3,137.53 billion yuan [1] Fund Inflow and Outflow Direction - In the broad-based and strategy ETF category, the top three inflow sectors were Free Cash Flow, Strategy-Dividend, and CSI 2000, while the top three outflow sectors were CSI 300, CSI 1000, and SSE 50 [3][4] - In the industry and thematic ETF category, the top five inflow sectors were Semiconductor Chips, Chemicals, Power Grid and Power Operations, Non-ferrous Metals, and Innovative Drugs, while the top five outflow sectors were Military Industry, State-owned Enterprises, Agriculture, Rare Earths, and Consumer Electronics [4][5] Key Focus Areas - The Chemical ETF (159870) has seen continuous net inflows for 16 days, with various sub-sectors receiving positive news. The prices of chemical futures have risen significantly, indicating a positive market outlook for chemical products [6] - Specific price increases include: - Butadiene rubber up by 4.69% - Ethylene glycol up by 4.51% - Styrene up by 4.07% [6] - The price of a key intermediate for disperse dyes has increased from 25,000 yuan per ton to 38,000 yuan, a rise of over 50% [6] - The domestic potassium chloride market is showing strength due to reduced domestic supply and increased import costs [6] - The Chemical ETF has attracted a total of 94.27 billion yuan in net inflows over the past 16 days, with an average daily net inflow of 5.89 billion yuan [6][9] New Energy Sector - The Innovative New Energy ETF (588830) has experienced three consecutive days of gains, driven by the announcement of plans to build 200 GW of solar capacity in the U.S. for data center power supply [10] - The expected demand for solar equipment is projected to be significant, with potential annual procurement needs of 60-70 GW, translating to substantial revenue and profit opportunities in the solar supply chain [10]

针对近期我国多地出现低温、大风、降雪天气的情况，中国海油各单位加密巡检、加强防护，多措并举 保障安全生产。"海洋石油941"钻井平台迅速行动，钻井部门聚焦核心作业环节开展全方位巡检，保障 设备启停顺畅、运行平稳；设备部门重点推进管线电伴热装置的加装与维保工作，确保设备完好。在山 西晋城，中联公司晋太分公司加强管道巡检和维护，同时对各井场进行全天候监控，为冬季安全生产提 供可靠保障。在山东滨州，中海炼化中沥公司在装置区启动应急清雪行动，确保巡检与生产通行路线安 全畅通。在山东，气电集团华北分公司山东销售分公司各加气站在降雪期间组建突击队，保障加气区、 进出站通道、储罐区等重点区域"随下随清、雪停路净"。湖北地区遭遇低温雨雪灾害天气，中海炼化海 油销售湖北公司各加油站组织员工及时清理地面积雪、铺设防滑草垫、设置警示标识，引导车辆低速有 序通行，保障进出口交通通畅安全。 中国中化也全面进入防寒防冻状态。中化东北石油成立防寒防冻应急领导小组，统筹部署防冻凝工作。 中化兴中岙山基地实施对油泵加注防凝冻润滑油等防凝措施，确保库区码头各项生产作业安全进行。中 化化肥玛纳斯工厂开展积雪集中清理作业，对仓库周边、物资运输通道等 ...

昨日市场全天震荡调整，大小指数分化明显，深成指、创业板指高开低走，盘中均跌超1%。沪深两市 成交额3.25万亿，较上一个交易日放量1630亿。盘面上，市场热点较为杂乱，全市场超3700只个股下 跌。 中信证券：家电板块四季度承压，关注国补衔接带来业绩改善 2026年家电国补政策调整，将聚焦核心品类与农村市场。政策覆盖大家电6个核心品类、补贴1级能效， 补贴比例为15%。首批625亿元额度提前下达，全国覆盖，重点攻坚农村市场。京东投入300亿元推 行"三免四不限"，预计新增覆盖3000-4000万农村人口，农村市场成2026年主增量场景。 中信建投：锂电通胀开始，产能刚性环节价格趋势明确，上限难以捉摸 鉴于本轮锂电周期与上轮光伏周期本质驱动力和截至目前的剧情演绎高度相似，本篇报告系统性地复盘 光伏大周期是为本轮锂电之参考，主要结论有三：1、市场多言涨价影响需求，但实际从未影响，最终 演绎的结果是量价齐升，中上游向下游电站要利润，全产业链通胀。2、产能刚性环节的价格是需求的 风向标，最终价格回落是由于产能投放而非需求萎缩。3、股价层面：底部估值抬升之后，市场可能会 对需求产生怀疑导致板块阶段性纠结，但最终因产业链 ...

Market Performance - The three major A-share indices opened high but closed lower, with the Shanghai Composite Index down 0.08% at 4132.9 points, the Shenzhen Component down 0.85% at 14316.64 points, and the ChiNext Index down 0.91% at 3319.15 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 32,453.25 billion yuan, with over 3,700 stocks declining throughout the day [1] Sector Performance - The non-ferrous metal sector led the market with significant gains, particularly in precious metals, where stocks like Sichuan Gold surged with 4 consecutive trading limits, and Zijin Mining reached a historical high [1] - The biopharmaceutical sector related to vaccines also saw collective gains, while the oil and gas sector strengthened, with China National Offshore Oil Corporation hitting a historical high [1] - The commercial aerospace sector experienced a downturn, with multiple stocks like Haige Communication and Shenjian Co. hitting the limit down, while the semiconductor equipment sector performed poorly [1]

智通财经APP获悉，1月22日,阿里巴巴-W（09988）、中国海洋石油（00883）、中国人寿（02628）南 向资金净流入金额位列市场前三，分别净流入14.11 亿、5.90 亿、5.08 亿 中国移动（00941）、腾讯控股（00700）、中国宏桥（01378）南向资金净流出金额位列市场前三，分 别净流出-8.48 亿、-6.71 亿、-4.32 亿 在净流入比方面，长江基建集团（01038）、优然牧业（09858）、海天味业（03288）以56.47%、 56.41%、51.11%位列市场前三。 在净流出比方面，中教控股（00839）、中国中药（00570）、碧桂园服务（06098） 以-62.38%、-57.48%、-55.30%位列市场前三。 前10大资金净流入榜 | 股票名称 | 净流入(元)↓ | 净流入比 | 收盘价 | | --- | --- | --- | --- | | 阿里巴巴-W(09988) | 14.11 亿 | 14.34% | 164.800（+0.98%） | | 中国海洋石油(00883) | 5.90 亿 | 21.89% | 22.740（+2.52%） | | 中 ...

男生普通话版 下载mp3 女声普通话版 下载mp3 粤语版 下载mp3 上海话版 下载mp3 东北话版 下载mp3 西南方言版 下载mp3 今日优选 欧佩克+代表：三月或维持停止增产的产量政策 日本央行账户数据没有明确迹象显示上周五干预汇市 1月底前美国政府停摆的概率约为8成 特朗普表示，伊朗局势"瞬息万变"，但他认为伊朗确实想要达成协议 特朗普：将韩国对等关税从15%提高至25% 中国人民银行召开2026年宏观审慎工作会议 市场盘点 周一，美元在兑一篮子货币汇率跌至四个月低点后持续疲软，而日元则因市场对美日联合干预汇市的猜测大幅上涨。美元指数最终收跌 0.436%，报97.04；基准的10年期美债收益率走低，最终收报4.2180%，对美联储政策利率敏感的2年期美债收益率收报3.598%。 由于美元疲软增强了需求，贵金属价格再创新高，但随后剧烈波动回落。现货黄金盘中突破5100美元/盎司，美盘午后震荡走低跌破5000美元 关口，最终收涨0.45%，报5008.55美元/盎司；现货白银盘中冲上117/盎司，日内一度暴涨14%，创全球金融危机以来最大盘中涨幅，随后自高 位大幅回落，抹去日内所有涨幅转跌，最终收涨0 ...

2026.01. 26 本文字数：1566，阅读时长大约3分钟 作者 | 第一财经 郭霁莹 近日，两大电网、五大发电集团、两大核电集团等多家能源央企密集召开年度工作会议，部署2026年重点 任务。 当前，国内能源转型与安全保障的双重需求突出。据国家统计局数据，2025年全社会能源消费总量初步统 计比上年增长3.5%。其中，全社会用电量历史性增至10.4万亿千瓦时，同比增长5%，相当于美国全年用 电量的两倍多，超过欧盟、俄罗斯、印度、日本四个经济体的年用电量总和。而且在"双碳"目标下，国内 2025年非化石能源占能源消费总量比重较上年提高约2个百分点，超过石油成为第二大能源类型，成为能源 增量主体。 第一财经记者梳理发现，挖掘潜力扩大有效投资、靠前谋划一批重大项目和标志性工程，保障能源电力安全 可靠供应，以及加快产业数智化转型、推动科技创新与产业创新深度融合，是能源央企在2026年工作规划 中谈及最多的三大任务。 扩大有效投资是上述企业"十五五"开局工作的核心抓手。电网与核电领域的标志性工程率先落地。1月中 旬，国家电网以"十五五"期间4万亿元创纪录的固定资产投资计划拉开序幕，南方电网紧随其后披露了 2026年 ...

Report Title - "Counting the Public Offering Pure Bond and Hybrid Asset Strategy Funds' 2025 Q4 Reports - The Scale of 'Fixed Income +' Reaches a New High, and the Exposure to Equity Slightly Declines" [1] Report Date - January 26, 2026 [2] Market Overview General Fixed - Income Fund Scale in 2025 Q4 - Among the top 20 fund companies in terms of general fixed - income fund scale, the scale of some companies increased while others decreased. For example, the scale of China Merchants Fund increased by 9.88% to 3512.27 billion yuan, while the scale of E Fund decreased by 4.71% to 3627.05 billion yuan [8]. Hybrid Asset Strategy Fund Scale in 2025 Q4 - In the hybrid asset strategy fund scale ranking, the scale changes also varied. For instance, the scale of Invesco Great Wall Fund increased by 32.11% to 2263.68 billion yuan, while the scale of Fullgoal Fund decreased by 5.85% to 1281.73 billion yuan [8]. Performance Return - Different types of funds had different average returns in 2025 Q4, year - to - date, and in the past 1 - year, 3 - year, and 5 - year annualized periods. For example, the average return of convertible bond funds in 2025 Q4 was 0.84%, and the year - to - date return was 23.10% [15]. Maximum Drawdown - The average maximum drawdowns of various fund types also differed. For example, the average maximum drawdown of convertible bond funds in 2025 Q4 was - 5.26%, and the year - to - date maximum drawdown was - 8.90% [15]. Annualized Sharpe Ratio - The annualized Sharpe ratios of different fund types were distinct. For example, the annualized Sharpe ratio of short - term pure bond funds in 2025 Q4 was 4.28 [15]. Asset Allocation Leverage Ratio - In 2025 Q4, different types of funds had different leverage ratios and their changes compared to Q3. For example, the leverage ratio of short - term pure bond funds was 111.89% in Q4, an increase of 0.40% compared to Q3 [40]. Holding Characteristics Stock Holdings - From 2025 Q1 to Q4, the industry and stock holding ratios of funds changed. For example, the proportion of non - ferrous metals in the stock market value increased from 11.27% in Q1 to 14.65% in Q4 [54][57]. Bond Holdings - The industry and bond holding ratios of funds also changed over the four quarters of 2025. For example, the proportion of bank bonds in the bond market value decreased from 20.75% in Q1 to 14.45% in Q4 [67][68]. Fund Managers' Views Pure Bond Market Views - Different fund managers had different views on the pure bond market in 2026 Q1. For example, Huang Yingjie of Bank of Communications Yulong Pure Bond A believed that the bond market might be in a range - bound market with a steeper curve [74]. Bond and Stock Market Views - Some fund managers had comprehensive views on the bond and stock markets. For example, Deng Xinyu and Zhao Yucheng of China Europe Dingli A were optimistic about the stock market's structural opportunities and adjusted their convertible bond positions [75]. Convertible Bond and Stock Market Views - Fund managers also had different views on the convertible bond and stock markets. For example, Huang Bo of Everbright Tianyi A planned to select high - cost - effective convertible bonds for the fund's fixed - income part [79].

Group 1 - The core focus of energy state-owned enterprises for 2026 includes expanding effective investment, planning major projects, ensuring reliable energy supply, and accelerating digital transformation and technological innovation [1][2][3] - The investment plan for the "14th Five-Year Plan" includes a record 4 trillion yuan from the State Grid and 180 billion yuan from the Southern Grid, targeting ultra-high voltage transmission, distribution network upgrades, and digital transformation [1] - The nuclear power sector is highlighted with the launch of the Jiangsu Xuwei nuclear heating power plant, which will supply 32.5 million tons of industrial steam annually and reduce carbon emissions by 19.6 million tons [2] Group 2 - The demand for energy transition and security is increasing, with a projected 3.5% growth in total energy consumption by 2025, and electricity consumption reaching 10.4 trillion kilowatt-hours, more than double that of the US [3] - Energy state-owned enterprises are prioritizing technological innovation and digital transformation as key drivers for high-quality development in 2026, with significant investments planned in these areas [3][4] - Policies from the National Development and Reform Commission and the National Energy Administration aim to integrate artificial intelligence with the energy sector, targeting the establishment of an innovation system by 2027 [4]

成交活跃股方面，今日上榜个股中，南向资金成交金额最多的是阿里巴巴-W，合计成交额56.22亿港 元，腾讯控股、中国海洋石油成交额紧随其后，分别成交43.07亿港元、33.93亿港元。以净买卖金额统 计，净买入的个股共有5只，腾讯控股净买入额为10.15亿港元，净买入金额居首，该股收盘股价上涨 0.76%，小米集团-W净买入额为8.22亿港元，泡泡玛特净买入额为6.13亿港元。净卖出金额最多的是中 国移动，净卖出11.77亿港元，该股收盘股价下跌0.88%，紫金矿业、盈富基金遭净卖出10.77亿港元、 10.36亿港元。 今日上榜个股中，腾讯控股、小米集团-W、钧达股份等7只股同时上榜港股通（深）、港股通（沪）成 交活跃股， 腾讯控股合计成交额43.07亿港元，成交净买入10.15亿港元，小米集团-W合计成交额30.90 亿港元，成交净买入8.22亿港元。紫金矿业合计成交额33.65亿港元，成交净卖出10.77亿港元，阿里巴 巴-W合计成交额56.22亿港元，成交净卖出2.35亿港元。 1月26日恒生指数上涨0.06%，南向资金全天合计成交金额为1145.35亿港元，其中，买入成交568.55亿 港元，卖出成交 ...