Core Insights - The "Shanghai Intelligent Computing Industry High-Quality Development Initiative" was officially launched to promote the construction of next-generation intelligent computing centers and establish a high-level intelligent cloud service system [1] - Shanghai's intelligent computing resources have surpassed 120,000 PetaFLOPS, with nearly 20,000 PetaFLOPS managed by the municipal scheduling platform [5] - The initiative aims to transform the intelligent computing industry into a new engine for Shanghai's high-quality economic development [1][5] Industry Developments - The Shanghai Economic and Information Commission is implementing the "Artificial Intelligence +" action to lead the digital transformation of the manufacturing sector [5] - The city plans to build a series of intelligent computing infrastructures and accelerate the large-scale deployment of domestically produced chips [5] - The initiative emphasizes the creation of a self-controllable intelligent computing industry ecosystem, promoting the "National Chip, National Model, National Cloud" system [5] Collaborative Efforts - A "Computing Economy Empowerment Co-Creation System" was launched to address the challenge of converting computing resources into economic value [7] - The "Scientific Intelligent Open Community Computing Support Plan" was signed to provide a one-stop research tool and model services for scientists [7] - Major telecommunications companies and service providers in Shanghai are collaborating to build a city-wide intelligent computing ecosystem [7] Technological Innovations - Domestic chip companies showcased their latest products in GPU, large-scale cluster construction, and industry empowerment [9] - The forum highlighted the development of a "Dynamic Industry Map" to present the industry chain's landscape and trends [10] - Innovations in green and low-carbon development of computing infrastructure were discussed, showcasing the achievements of the "14th Five-Year Plan" [10] Future Directions - The initiative aims to enhance the efficiency and collaboration of the intelligent computing industry, focusing on hardware, intelligent cloud, models, and applications [6] - The industry is expected to evolve from "facility scale" to "comprehensive efficiency," creating a four-level interactive architecture [6] - The forum emphasized the importance of a supportive ecosystem involving technology, talent, and standards to drive high-quality development in intelligent computing [10]

阿里巴巴-W（09988）、中国移动（00941）、中国太保（02601）南向资金净流出金额位列市场前三， 分别净流出-14.88 亿、-7.45 亿、-4.66 亿 智通财经APP获悉，1月23日,泡泡玛特（09992）、小米集团-W（01810）、快手-W（01024）南向资金 净流入金额位列市场前三，分别净流入7.45 亿、6.09 亿、5.35 亿 前10大净流入比榜 | 股票名称 | 净流入比↓ | 净流入(元) | 收盘价 | | --- | --- | --- | --- | | 民生银行(01988) | 68.65% | 1.26 亿 | 3.820（+0.53%） | | 美的置业(03990) | 60.58% | 227.38 万 | 4.060（-0.25%） | | 环球新材国际(06616) | 51.04% | 2634.44 万 | 8.600（-2.82%） | | 四川成渝高速公路 | 50.36% | 504.87 万 | 5.200（+1.76%） | | --- | --- | --- | --- | | (00107) | | | | | 江苏宁沪高速公路 | 5 ...

发展新质生产力是一项系统性工程。今年省两会上，政府工作报告提出，坚持创新驱动发展，因地制宜 发展新质生产力。如何结合河南实际培育和发展新质生产力？高校怎样赋能产业向新？创新人才如何培 育？代表委员就相关话题展开了热烈讨论。 发挥比较优势 推动产业向新 "因地制宜，核心是将区域的资源禀赋与前沿技术深度融合。"省人大代表、万江新能源股份有限公司总 裁侯涛表示。作为深耕地热领域的企业，万江新能源围绕河南丰富的地热资源，成功研发中深层地热井 下换热技术，实现"取热不取水"，并创新岩土储能循环利用技术，实现"冷暖双供"。侯涛介绍，在新乡 中原农谷清洁供暖项目中，地热能替代天然气供暖，大幅降低了成本，为多元化应用场景提供绿色、经 济的能源保障。 省人大代表，郑州圆方集团党委副书记、董事长李圆方介绍，圆方集团将创新聚焦于民生服务。"河南 有近1亿人口，关爱'一老一小'、优化公共服务十分重要。"李圆方说，圆方集团自主研发"医智管"智能 体生态平台，提升医院后勤管理效率。他举例，在一个150人的中型保洁项目中，运用平台管理不仅能 节约成本，更能将管理响应速度提升40%。"我们依托已运行成熟的'AI+技能培训+就业匹配'数字人力 ...

Core Viewpoint - Inner Mongolia Autonomous Region is focusing on high-quality development and implementing the "1571" work deployment as a guiding framework for its future growth, aiming to ensure a strong start for the 14th Five-Year Plan [1][2]. Group 1: "1571" Work Deployment - The "1571" work deployment includes: "1" focusing on building a model autonomous region with a strong sense of national community; "5" emphasizing the construction of two barriers, two bases, and one bridgehead; "7" targeting seven key tasks to develop a modern industrial system with Inner Mongolia's characteristics; and "1" reinforcing the comprehensive leadership of the Party [2][3]. - The deployment is characterized by its political, strategic, systematic, and continuity aspects, providing clear direction for economic work in 2026 and beyond [2]. Group 2: Key Development Initiatives - The completion of the 500 kV power transmission project in Keshiketeng Banner enhances the regional grid's capacity by 30%, facilitating the delivery of green energy [2]. - The opening of the Baoyin High-Speed Railway connects Inner Mongolia to the national market, promoting regional economic integration and opportunities [3]. - The construction of the China Mobile Intelligent Computing Center in Hohhot and Linhe New District is part of the focus on developing a modern industrial system [3]. Group 3: Improvement of Business Environment - The establishment of a major project review and approval mechanism in Xingan League has reduced the time for obtaining land pre-approval for wind power projects to just 2 working days, enhancing the business environment [4]. Group 4: Social Welfare Initiatives - The implementation of the "Ten Major Livelihood Projects" aims to improve the quality of life for residents, including healthcare reforms that reduce patient costs [5][6]. - The introduction of electronic consumer vouchers for elderly care services is part of the efforts to enhance the quality of life for senior citizens [6]. - The overall goal of these initiatives is to ensure that the benefits of development are more equitable and accessible to all residents, laying a solid social foundation for achieving economic and social development goals [6].

证券研究报告|宏观点评报告 [Table_Date] 2026 年 01 月 27 日 [Table_Title] 资产配置日报：科技归来 [Table_Title2] [Table_Summary] 1 月 27 日， 股市低开高走，科技板块重新升温，上证指数几经周折，尾盘再度收于 4140 点，资金经历短期 纠结后，继续涌向双创领域，科创综指、创业板指单日上涨 1.72%、0.71%。"股债跷跷板"效应成为日内债市 定价主导变量，风险偏好小幅提振的背景下，债市收益率普遍上行。 权益市场缩量上涨。万得全 A上涨 0.14%，全天成交额 2.92 万亿元，较昨日（1 月 26 日）缩量 3592 亿 元。港股方面，恒生指数上涨 1.35%，恒生科技上涨 0.50%。南向资金净流出 6.35 亿港元，其中中国移动和紫金 矿业分别净流出 11.47 亿港元和 8.43 亿港元，而腾讯控股净流入 10.24 亿港元。 指数呈现 V 型走势。早盘 4000+只股票下跌，万得全 A 跌幅一度达 1.40%。不过前期在窄幅震荡区间聚集的 筹码，支撑指数从负转正。正如我们在《暗流涌动》中提及，这部分筹码在牛市延续的共识下进 ...

Core Insights - The 2026 Jiangsu Province Urban Football League has announced 24 official sponsors, with notable absences of previously rumored sponsors like Suning and JD.com [1] - The total sponsorship amount for the new season was previously reported to be 202 million yuan, but this figure is now considered inaccurate as some partnerships are still pending confirmation [10] - The league has eliminated the "official partner" category, indicating increased competition for commercial resources [10] Sponsorship Structure - The league's title sponsors are Jiangsu Bank and Suhao Holdings, which is a large state-owned enterprise in Jiangsu [10] - International brands such as Adidas and Coca-Cola have joined as official strategic partners, with Heineken upgrading its status from supplier to strategic partner [11] - New sponsors include well-known Chinese companies like Yanghe Baijiu and Yili, with a trend towards younger brands like Cotti Coffee and Suplay [11] Market Performance - The 2025 season saw over 2.43 million attendees, with an average attendance of 28,000, setting a record for provincial leagues [12] - Online viewership reached over 2.2 billion, and social media engagement surpassed 100 billion views [12] - The league's impact on local tourism was significant, with 23.97 million visitors to A-level tourist attractions, a 17.71% increase year-on-year [12] Expansion of Urban Football Leagues - Following the success of the Jiangsu league, other regional leagues like Sichuan, Zhejiang, and Guangdong are being developed [12][19] - The Sichuan Urban Football League has already begun, with significant ticket demand and sponsorship from international companies [13] - The overall growth of social football in China is evident, with a reported increase in amateur players and competitions [19]

Core Insights - The report highlights a mixed performance in the Hong Kong stock market, with the Hang Seng Index slightly up by 0.06%, while the Hang Seng Tech Index fell by 1.24%, indicating a shift of funds from tech growth sectors to resource sectors with clear inflation benefits [2][3] - International gold prices have reached a new high due to rising risk aversion and geopolitical tensions, with spot silver also hitting a new peak of $109 per ounce, driving up related stocks [3] - The report notes a significant increase in U.S. durable goods orders by 5.3% month-on-month in November, indicating strong corporate investment momentum despite political uncertainties [4][5] Industry Analysis - The report provides insights into the retail sector, indicating that the total retail sales in December 2025 reached 45,136 billion yuan, with a year-on-year growth of 0.9%, and an accumulated growth of 3.7% for the entire year [7] - The report observes a decline in growth rates across various consumer segments, with commodity retail sales in December at 39,398 billion yuan, showing a year-on-year increase of 0.7%, down 0.3 percentage points from the previous month [8] - The food and daily necessities retail sectors experienced a slowdown, with December retail sales for food and oil at 2,323 billion yuan, growing by 3.9%, and daily necessities at 776 billion yuan, growing by 3.7% [8] - The report notes that the clothing sector is struggling, with December retail sales at 1,661 billion yuan, showing only a 0.6% year-on-year increase [8] - The report highlights a strong performance in the telecommunications equipment sector, with December retail sales reaching 949 billion yuan, growing by 20.9%, attributed to subsidies for electronic consumer goods [8] - The automotive sector is facing challenges, with December retail sales at 5,482 billion yuan, declining by 5.0% year-on-year, reflecting diminishing effects from subsidies [8] Investment Strategy - The report suggests investment in Lao Pu Gold (6181.HK), anticipating increased consumer demand during the Spring Festival, with a projected PE of 18.5x for 2026 based on a 40% net profit growth [10] - Hai Di Lao (6862.HK) is highlighted for its potential growth during the Spring Festival, with a current PE-TTM of 17x, benefiting from improved same-store sales in the second half of 2025 [10] - Ming Ming Hen Mang (1768.HK) is noted for its upcoming listing and expected rapid growth during the Spring Festival season, attracting significant market attention [10]

Group 1 - The construction of the Xudabao Nuclear Power Plant in Huludao is being enhanced by the integration of 5G technology, setting a benchmark for the fusion of digital technology with major national projects [1][3] - Liaoning Mobile has established multiple 5G base stations to achieve seamless coverage of the plant, providing high-speed and stable communication services for over 10,000 construction workers [3] - The implementation of a 5G private network within the nuclear island addresses communication challenges posed by the thick concrete structure, ensuring network security and supporting various internal applications [4] Group 2 - The collaboration between Liaoning Mobile and the Xudabao Nuclear Power Plant is accelerating the digital and intelligent transformation of the nuclear power industry, offering a replicable success model for energy infrastructure upgrades across the country [4] - Future innovations in 5G technology applications in the nuclear power sector will include smart inspections and predictive maintenance, contributing to national energy security and the development of clean energy [5]

1月27日，南下资金净卖出港股6.35亿港元，为连续第三日净卖出。 其中：净买入腾讯控股10.24亿、中国人寿5.11亿、长飞光纤光缆3.54亿、中国海洋石油3.12亿；净卖出中国移动11.47亿、紫金矿业8.42亿、中芯国际5.52 亿、阿里巴巴-W 4.01亿、华虹半导体1.91亿、招金矿业1.45亿、紫金黄金国际1.33亿。 据统计，南下资金已连续5日净买入中海油，共计14.0858亿港元；连续3日净买入腾讯，共计22.7903亿港元；连续17日净卖出中国移动，共计140.4003亿港 元；连续3日净卖出阿里巴巴，共计21.2684亿港元。 | | 沪股通 | | | | | --- | --- | --- | --- | --- | | 名称 | 涨跌幅 | 净买入额(亿) | 成交额 | 名称 | | 阿里巴巴-W | 2.9% | -0.57 | 47.26 Z | 阿里巴巴-W | | 腾讯控股 | 1.3% | 8.69 | 33.88 Z | 腾讯控股 | | 中国移动 | -0.4% | -15.93 | 26.36 Z | 中芯国际 | | 中芯国际 | 1.4% | -0.86 | 2 ...

港股通成交数据披露（沪深合计） 恒生指数今日涨1.35%，报27126.95点，大市成交2543.73亿港元。 披露的南向资金成交股中，腾讯控股、中国人寿、长飞光纤光缆分别获净买入10.24亿港元、5.11亿港 元、3.55亿港元；中国移动、紫金矿业、中芯国际分别遭净卖出11.47亿港元、8.43亿港元、5.53亿港 元。 本文源自：市场资讯 作者：智投君 证券简称成交金额净买入额收盘价涨跌幅腾讯控股 0070056.62亿港元10.24亿港元607.00港元12.50%中国人寿 0262817.21亿港元5.11亿港元34.10港元59.70%长飞光纤光缆 0686923.09亿港元3.55亿港元65.15港元37.40%中国海洋石油 008839.47亿港元3.12亿港元23.52港元7.70%钧达股份 0286513.71亿港元0.38亿港元35.26港元-32.40%小米集团－Ｗ 0181015.00亿港元-0.96亿港元35.56港元9.70%紫金黄金国际 0225910.85亿港元-1.33亿港元233.00港元115.90%招金矿业 018187.94亿港元-1.45亿港元38.42港元-22. ...