"先锋领航"春节事件梳理 核心要点: 春节期间，海外主要股指多数上涨，原油价格走强，黄金白银价 格上涨；美伊谈判陷入僵局，美方下达最后通牒；美国最高法院判决 对等关税违法；国内春节假期出行、旅游、酒店、影视均有升温，机 器人、AI 应用表现亮眼。马年六大趋势前瞻：中美同步降息，全球 步入货币宽松周期；AI 超级应用迎来爆发元年，AI 应用将从"可用" 走向"好用"；中国力量崛起，全球 AI 竞争格局重塑；地缘政治风 险加剧，不确定性持续升温；大宗商品进入新一轮上涨周期；A 股牛 市逻辑不改，结构性机会延续，AI、机器人、商业航天、自动驾驶等 方向仍将是主线。 1、全球资产表现：海外股指多数上涨，人民币一度升至 6.88 春节假期前后（2 月 16 日-2 月 20 日），海外股指多数上涨。美 股方面，受最高法裁定 IEEPA 关税违法对风险偏好的提振，纳指、标 普 500 和道指分别上涨 1.5%、1.1%和 0.3%。亚洲市场，韩国综合指 数大涨 5.5%，恒指下跌 0.6%。欧洲方面，CAC40、富时 100、DAX30 集体上涨。美元指数反弹 0.9%、离岸人民币一度升至 6.88。油价继 续走强、金价 ...

Core Viewpoint - The A-share market experienced a strong opening on the first trading day after the Spring Festival, with over 4,000 stocks rising and more than 100 stocks hitting the daily limit up [1][3]. Market Performance - On February 24, the A-share market opened high and fluctuated throughout the day, with the Shanghai Composite Index closing up 0.87% at 4,117.41 points, while the Shenzhen Component Index rose 1.36% to 14,291.57 points. The ChiNext Index increased by 0.99% to 3,308.26 points [3][5]. - The total trading volume in the Shanghai and Shenzhen markets reached 2.2 trillion yuan, an increase of 219.4 billion yuan compared to the previous trading day [5]. Sector Performance - Resource stocks, particularly in oil and gas, surged due to geopolitical events, with multiple stocks hitting the daily limit up, including Tongyuan Petroleum and China National Offshore Oil Corporation [5]. - The chemical sector also saw significant gains, with stocks like Meibang Co. and Hongbao Li hitting the daily limit up [5]. - AI-driven demand led to strong performance in optical fiber and related hardware stocks, with Tianfu Communication rising over 10% and Changfei Optical Fiber hitting a new historical high [6]. Declining Sectors - The film and cinema sector faced declines, with stocks like Light Media and China Film hitting the daily limit down [7]. - AI application stocks also saw significant drops, with companies like ZhiYue Technology and Jingli Media experiencing substantial losses [7][9]. Future Outlook - Analysts from Zhonghang Securities suggest that the A-share market may have entered a phase of stabilization after recent fluctuations, with expectations for a gradual upward trend [9]. - Guotai Haitong Securities highlights that the upcoming policy window and the potential visit of a U.S. leader to China could bolster market confidence [10]. - Huatai Securities anticipates a continued spring market rally, driven by domestic consumption data and AI industry catalysts, despite external uncertainties [11].

更值得关注的是，传统电影春节档承压的同时，新晋崛起的短剧度过了一个热闹的春节档，红果短剧平 台推出的多部影片观看量突破10亿。分析师直言："微短剧已真正成为中国数字文化消费的'主力军'。" 院线遭遇"寒流"，线上短剧爆款频出 马年首个交易日，A股影视板块没能迎来"开门红"。 2月24日，A股影视板块开盘即陷入调整，全天表现垫底。截至收盘，中证影视主题指数（930781）大 跌6.73%，光线传媒（300251.SZ）、中国电影（600977.SH）、上海电影（601595.SH）、横店影视 （603103.SH）等多只个股跌停。场内资金避险情绪浓厚，与中证影视主题指数挂钩的两只ETF基金跌 幅均超7%，领跌全市场ETF。 二级市场的剧烈波动，是院线数据不及预期的直接表现。猫眼专业版统计数据显示，2026年春节档（2 月15日～2月23日）总票房为57.52亿元，同比下降39.5%；总观影人次1.20亿，同比下降35.8%。分析师 指出，现象级爆款、题材圈层化限制受众基础、宣发较晚等，是今年春节档表现乏力的主要原因。 首先是今年春节档缺乏爆款产品。2025年《哪吒之魔童闹海》春节档贡献48.42亿元票房，占当年 ...

有股民表示："太神奇了，春晚那么多机器人表演，以为要大涨呢，还想着把压岁钱都买相关股票，看不懂这个逻辑了，现在不敢买了。" 作者：蔡越坤封图：图虫创意 A股马年首个交易日，迎来开门红行情。 截至2月24日收盘，上证指数上涨0.87%，收于4117.41点；深证成指上涨1.36%，收于14291.57点；创业板指上涨0.99%，收于3308.26点。A股全天成交2.22 万亿元，上个交易日成交2万亿元。 马年春晚，人形机器人组团登上舞台，再次引起广泛关注。2月20日港股率先开盘，尽管恒生指数和恒生科技指数当日双双收跌，但受春晚机器人震撼表 演的催化影响，人形机器人概念股收红，受到资金追捧。 然而，2026年春晚后首个交易日，最值得期待的机器人板块并未如期大涨，上演高开低走行情。A股开盘后，机器人指数（884126）上涨近1.5%，然而截 至收盘，该指数仅上涨0.65%。 有股民表示："太神奇了，春晚那么多机器人表演，以为要大涨呢，还想着把压岁钱都买相关股票，看不懂这个逻辑了，现在不敢买了。" 展望后市，方正证券认为，国内方面，2026年开年以来，A股市场表现总体强势，春季行情拉开帷幕。往后看，随着新质生产力领域 ...

（文章来源：证券日报） 证券日报网讯 2月24日，中国电影在互动平台回答投资者提问时表示，公司密切关注人工智能前沿技术 发展趋势，积极探索其在电影领域的应用。 ...

Group 1 - The film industry sector experienced a decline at the beginning of trading, with major companies such as China Film, Hengdian Film, and Bona Film hitting the daily limit down [1] - Light Media and Happiness Blue Sea fell over 15%, indicating significant losses in the market [1] - Other companies including Golden Eagle Film, Wanda Film, Shanghai Film, Huanrui Century, and Huace Film also saw declines, reflecting a broader downturn in the industry [1]

Market Overview - On February 24, the first trading day after the Spring Festival, the Shanghai Composite Index rose by 0.87%, the Shenzhen Component Index increased by 1.36%, while the Sci-Tech Innovation Board Index fell by 0.61%, and the ChiNext Index rose by 0.99% [1][4] - The total market turnover for the day was 2.22 trillion yuan, with over 4,000 stocks in the green and 111 stocks hitting the daily limit [1][4] Oil and Gas Sector - Tensions in US-Iran relations have increased geopolitical risk premiums in the oil market, leading to a surge in the oil and gas sector, with multiple stocks hitting the daily limit [1][4] - Notable stocks include: - Xinjin Power: 20.07% increase, trading volume of 123 million shares, turnover of 7.96 billion yuan [2][5] - Tongyuan Petroleum: 20.04% increase, trading volume of 9.41 million shares, turnover of 11.84 billion yuan [2][5] - Qianeng Hengxin: 20.01% increase, trading volume of 3.47 million shares, turnover of 11.78 billion yuan [2][5] - Zhongyou Engineering: 10.13% increase, trading volume of 100 million shares, turnover of 4.20 billion yuan [2][5] Diamond Sector - The cultivated diamond sector saw significant gains, with stocks like Sifangda hitting the daily limit, and other stocks such as World and Huifeng Diamond rising over 10% [5] Precious Metals Sector - The precious metals sector was active, with stocks like Hunan Silver, Shengda Resources, and Sichuan Gold hitting the daily limit, while Xiaocheng Technology rose over 15% [6] - The CPO index for optical modules increased by over 4%, with major players like Yizhongtian achieving transaction volumes exceeding 10 billion yuan [6]

Core Viewpoint - The A-share market experienced a strong performance on the first trading day of the Year of the Horse, with all three major indices closing higher, driven by resource sectors and policy expectations as the Two Sessions approach [3][15]. Market Performance - On February 24, the Shanghai Composite Index rose by 0.87% to 4117 points, the Shenzhen Component increased by 1.36% to 14291 points, and the ChiNext Index gained 0.99% to 3308 points [3][15]. - The total trading volume for the day reached 2.2 trillion yuan, an increase of 219.2 billion yuan compared to the previous trading day, indicating heightened market activity [3][15]. Sector Analysis - Resource sectors, particularly oil and gas, led the market rally, with multiple oil and gas ETFs hitting the daily limit [4][16]. - In contrast, the film and media sector saw significant declines, with related ETFs dropping over 7% due to disappointing box office performance during the Spring Festival [4][17]. ETF Market Insights - Oil and gas ETFs showed remarkable performance, with several reaching the daily limit and an average increase of around 10% [5][18]. - The Standard & Poor's Oil and Gas ETF recorded a trading volume of 1.117 billion yuan and a turnover rate of 152.76%, reflecting strong market interest in this sector [5][18]. Investment Themes - Analysts suggest that resource products and technology sectors may become the main themes for the spring market, driven by policy expectations and industry trends [3][11]. - The focus on stable growth policies ahead of the Two Sessions is expected to benefit infrastructure and resource sectors [11][24]. Market Sentiment - Despite the overall market rally, there is a notable divergence in sector performance, with technology stocks experiencing mixed results [21][23]. - Southbound capital flows showed a "buy the dip" strategy, with net purchases of 3.131 billion Hong Kong dollars on February 24, indicating continued interest in the market despite fluctuations [22][24].

1、行情 马年第一个交易日，A股整体呈现小幅高开低走的表现。 题材方面，影视板块开盘集体核按钮，博纳影业、横店影视、中国电影集体一字跌停，光线传媒、万达电影、金逸影视、幸福蓝海、中文在线等 核按钮后跌停或重挫； 同样受到"清算"的还有机器人、算力板块，均是高开低走； 油气股开盘大涨，准油股份、山东墨龙、洲际油气、中曼石油、通源石油（20CM）、惠博普、新锦动力（20CM）、博迈科、中油工程、石化 油服、贝肯能源、中海油服、潜能恒信（20CM）先后涨停； 玻纤再度大涨，宏和科技、国际复材（20CM）、中国巨石涨停，菲利华、中材科技、长海股份大涨； MLCC概念高开，风华高科一字，昀冢科技20CM涨停，三环集团、达利凯普、国瓷材料、洁美科技等大涨； 磷化工掀起涨停潮，澄星股份、和邦生物、川发龙蟒、金正大、湖北宜化、云图控股、云天化、川润股份、兴发集团集体涨停； 此外，CPO、黄金、PCB、周期股等大涨，AI产业链、量子计算等重挫。 截至收盘，沪指、深成指、创业板指分别收涨0.87%、1.36%、0.99%，市场超4000股上涨，近1400股下跌，三市累计成交量超2.2万亿。 2、影视 影视板块今日迎来集体重挫。 ...

2月24日，市场冲高回落，创业板指盘中一度涨超2%。沪深两市成交额2.2万亿，较上一个交易日放量2194亿。盘面上，市场热点快速轮动，全市场超4000 只个股上涨，其中109只个股涨停。从板块来看，油气股集体上涨，通源石油、准油股份、山东墨龙、中海油服（核心股）等多股涨停。化工（核心股）板 块爆发，美邦股份4连板，红宝丽、红墙股份、澄星股份、金浦钛业涨停。培育钻石（核心股）概念大涨，四方达20cm涨停，黄河旋风涨停。玻纤概念反复 活跃，国际复材涨超4天2板，续创历史新高。下跌方面，影视院线、AI应用等板块跌幅居前。其中影视院线概念股集体大跌，光线传媒、中国电影等多股 跌停。截至收盘，沪指涨0.87%，深成指涨1.36%，创业板指涨0.99%。 今日全市场（不含ST股、退市股）共92股涨停，连板股总数7只，41股封板未遂，封板率为69%。焦点股方面，并购重组的韩建河山9天5板、豫能控股4连 板，光伏（核心股）板块协鑫集成9天5板，化工（核心股）板块美邦股份4连板，AI应用的风语筑6天4板。 一、板块异动 二、涨跌停温度 三、涨跌家数 1）油气：美国持续增兵中东，美伊关系愈发紧张，原油价格近日有所上涨。 2）化工 ...