中经记者夏治斌石英婧上海报道 豪华品牌阵营亦反应迅速，纷纷"亮剑"。宝马中国在2026年年初宣布对旗下多达31款车型的官方指导价 进行下调，此举迅速成为行业焦点，引发了市场的广泛关注与热议。 进入2026年，车市迎来政策与市场的双重"换挡"。1月1日起，新能源汽车全额免征购置税政策退坡为减 半征收，与此同时，国家及地方新一轮"以旧换新"补贴陆续启动，以消费券、保险补贴等形式刺激购车 需求。但相关数据显示，目前国内市场仍处于调整期。 乘联分会数据显示，1月1—11日，全国乘用车市场零售同比下滑32%，环比下降42%。面对挑战，各大 车企并未重蹈简单降价的价格战覆辙，而是迅速打出一套涵盖金融方案、用户权益、服务保障等多维度 的"价值组合拳"，试图在稳定销量的同时，构建新的竞争壁垒。 对于2026年开年车市掀起促销热潮的背后原因，汽车行业资深分析师、资深顾问梅松林告诉《中国经营 报》记者，这是在新政策、新形势下企业采取的市场积极应对策略，也是带有进攻性的进取策略。"能 经受过去几年市场价格战洗礼，还能进一步提供购车优惠给消费者的厂家，要么是真有实力借此抢占市 场，要么是打肿脸充胖子也要保销量。" 中国汽车流通协会专 ...

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - On January 23, the current - month contracts of the four major stock index futures showed mixed performance. IF fell 0.34%, IH fell 0.73%, IC rose 3.31%, and IM rose 2.89%. On this trading day, the total trading volume of stock index futures rebounded, indicating an increase in investors' trading enthusiasm. The total trading volume and positions of IF, IH, IC, and IM all increased [1][2]. 3. Summary According to Relevant Catalogs 3.1 Stock Index Futures Data Tracking - **IF Contracts**: The closing prices of IF2602, IF2603, IF2606, and IF2609 were 4704, 4709.2, 4687.6, and 4647 respectively. The price of IF2602 and IF2603 decreased, while IF2606 and IF2609 increased. The trading volume and positions of each contract also changed to varying degrees [1]. - **IH Contracts**: The closing prices of IH2602, IH2603, IH2606, and IH2609 were 3032.4, 3037.8, 3036, and 3006 respectively. All contracts' prices decreased. The trading volume and positions of each contract increased [1]. - **IC Contracts**: The closing prices of IC2602, IC2603, IC2606, and IC2609 were 8656.2, 8658.2, 8578.8, and 8491 respectively. All contracts' prices increased. The trading volume of each contract increased, while the position of IC2602 decreased and others increased [1]. - **IM Contracts**: The closing prices of IM2602, IM2603, IM2606, and IM2609 were 8531.8, 8516.6, 8366.2, and 8219 respectively. All contracts' prices increased. The trading volume and positions of each contract increased [1][3]. 3.2 Trading Volume and Position Changes - The total trading volume of IF increased by 25,763 lots, IH increased by 9,434 lots, IC increased by 37,908 lots, and IM increased by 50,387 lots. The total positions of IF increased by 10,173 lots, IH increased by 11,239 lots, IC increased by 11,606 lots, and IM increased by 23,726 lots [2]. 3.3 Top 20 Member Position Changes - For different contracts of IF, IH, IC, and IM, the long - order and short - order positions of the top 20 members changed. For example, in IF2601, the long - order increased by 3364 and the short - order increased by 4396 [5]. 3.4 Trend Strength - The trend strength of IF and IH is 1, and the trend strength of IC and IM is also 1. The trend strength ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [6]. 3.5 Important Drivers - The China Securities Regulatory Commission officially issued the guidelines for the performance comparison benchmarks of public funds, and the Asset Management Association of China simultaneously issued the operating rules, which will be implemented on March 1st this year. The new rules address industry pain points such as "vague benchmarks", "style drift", and "fund blind boxes" [6]. 3.6 Stock Market Performance - **A - shares**: On Friday, A - shares fluctuated and climbed. The Shanghai Composite Index rose 0.33% to 4136.16 points, the Shenzhen Component Index rose 0.79%, the ChiNext Index rose 0.63%, and the Wind All - A Index rose 0.97%. The market turnover was 3.12 trillion yuan, compared with 2.72 trillion yuan the previous day. The "space photovoltaic" market was booming, and concepts such as commercial aerospace, non - ferrous metals, innovative drugs, and pharmaceutical retail strengthened [7]. - **Hong Kong Stocks**: Hong Kong stocks fluctuated and strengthened. The Hang Seng Index rose 0.45% to 26749.51 points, the Hang Seng Technology Index rose 0.62%, and the Hang Seng China Enterprises Index rose 0.51%. Southbound funds had a net sell - off of HK$1.6 billion, and Alibaba was net sold HK$1.49 billion [7]. - **US Stocks**: The three major US stock indexes closed with mixed performance. The Dow Jones Industrial Average fell 0.58% to 49098.71 points, the S&P 500 Index rose 0.03% to 6915.61 points, and the Nasdaq Composite Index rose 0.28% to 23501.24 points. Last week, the Dow Jones Industrial Average fell 0.53% cumulatively, the S&P 500 Index fell 0.35% cumulatively, and the Nasdaq Index fell 0.06% cumulatively [8].

| 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | Hટા | 恒生指数 | 26844.04c | 94.53 | 0.35% | | HSTECH | 恒生科技 | 5801.15 c | 3.14 | 0.05% | | HSBIO | 恒生生物科技 | 15924.23c | -12.84 | -0.08% | | HSCEI | 恒生中国企业指数 | 9188.19c | 27.38 | 0.30% | | HSCI | 恒生综合指数 | 4135.95c | 13.37 | 0.32% | 贵金属板块大涨，老铺黄金现涨超11%，中国白银集团涨超8%，赤峰黄金涨超7%，紫金矿业、山东黄 金、珠峰黄金、灵宝黄金、中国黄金国际等涨超5%。 科网股多数下跌，小鹏汽车跌近4%，百度集团、哔哩哔哩、快手跌超3%，蔚来、零跑汽车跌超2%；腾 讯音乐涨超3%。 1月26日，香港恒生指数开盘涨0.35%，恒生科技指数涨0.05%。 | 代码 | 名称 | 规价 | 消歧 | A 涨跌幅 | | --- | --- | --- | --- | - ...

Market Overview - The three major stock indices in A-shares opened higher, with the Shanghai Composite Index rising by 0.21%, the Shenzhen Component Index increasing by 0.37%, and the ChiNext Index up by 0.48% [1] - The STAR Market Index saw a slight increase of 0.04% [1] Sector Performance - The photovoltaic industry chain showed strong performance, particularly the space photovoltaic concept stocks, which led the gains [1] - Notable stocks such as Mingyang Smart Energy, Tuori New Energy, GCL-Poly Energy, Junda Co., and Shuangliang Eco-Energy hit the daily limit up, while stocks like Dongfang Risen, Optec, Aotwei, and Liancheng CNC opened over 10% higher [2] Hong Kong Market - The Hang Seng Index opened up by 0.35%, while the Hang Seng Tech Index saw a minor increase of 0.05% [3] - Stocks such as Pop Mart and Zijin Mining experienced significant gains, with Pop Mart rising over 4% and Zijin Mining nearly 3% [3]

Group 1 - The Hang Seng Index opened up by 0.35% and the Hang Seng Tech Index increased by 0.05% [1] - Pop Mart surged over 4%, while Zijin Mining rose nearly 3% [1] - Tencent Music and JD Health also showed significant gains [1] Group 2 - Baidu Group, Xpeng Motors, and NIO experienced notable declines [1]

港股汽车股盘初下探， 长城汽车跌超4%，蔚来-SW、零跑汽车、理想汽车-W跌超2%， 赛力斯、吉利 汽车跟跌。 ...

1月26日，香港恒生指数开盘涨0.35%，恒生科技指数涨0.05%。 | 代码 | 名称 | 现价 涨跌 涨跌幅 | | | --- | --- | --- | --- | | HSI | 恒生指数 | 26844.04c 94.53 | 0.35% | | HSTECH | | 5801.15c 3.14 0.05% | | | HSBIO | 恒生生物科技 | 15924.23c -12.84 - -0.08% | | | HSCEI | 恒生中国企业指数 | 9188.19c 27.38 0.30% | | | HSCI | 恒生综合指数 | 4135.95c 13.37 0.32% | | | 代码 | 名称 | 规价 | 浙先 | 涨跌幅 ▲ | | --- | --- | --- | --- | --- | | 9868 | 小鹏汽车-W | 73.750 | -3.050 | -3.97% | | 9888 | 百度集团-SW | 155.100 | -5.400 | -3.36% | | 9626 | 哔哩哔哩-W | 253.800 | -8.800 | -3.35% | | 1024 | ...

本文源自：金融界AI电报 港股汽车板块盘初走低，小鹏汽车(09868.HK)跌超3%，蔚来汽车(09866.HK)跌2.51%，长城汽车 (02333.HK)、零跑汽车(09863.HK)跌幅居前。 ...

A股三大股指集体高开，光伏产业链再度走强，太空光伏概念股领涨，贵金属及大宗商品价格大幅攀 升，黄金刷新历史新高。 09:25 A股开盘丨三大股指集体高开 光伏产业链再度走强 三大股指集体高开，沪指涨0.21%，深成指涨0.37%，创业板指涨0.48%。科创综指涨0.04%。光伏产业 链再度走强，太空光伏概念股领涨；黄金、锂矿、人形机器人、AI应用题材活跃。商业航天概念股局 部回调。 太空光伏概念继续大幅高开，明阳智能、拓日新能、协鑫集成、钧达股份、双良节能封涨停，东方日 升、欧普泰、奥特维、连城数控高开超10%。 9:21 港股开盘｜恒指高开0.35% 恒生指数高开0.35%，恒生科技指数涨0.05%。泡泡玛特涨逾4%，紫金矿业涨近3%，腾讯音乐、京东健 康涨幅靠前；百度集团、小鹏汽车、蔚来跌幅靠前。 8:41 现货黄金涨幅扩大1.2%，刷新历史新高至5050美元/盎司，本月累涨730美元。 8:40 现货铂金首次站上2800美元/盎司，今年首月累涨约37%。 7:01 现货黄金首次突破5000美元/盎司，日内涨0.5%。现货白银盘初再创新高，报104.76美元/盎司，涨 幅超1%。 | 名称 | 现价 | ...

Core Viewpoint - Yonghui Supermarket has reported continuous losses for five consecutive years, with a total loss exceeding 11.6 billion yuan from 2021 to 2025, indicating a significant decline in its financial health and operational efficiency [4][5]. Financial Performance - In 2025, Yonghui is expected to report a net loss of 2.14 billion yuan, compared to a loss of 1.47 billion yuan in the previous year, reflecting an increase in daily losses to approximately 6 million yuan [4]. - Cumulative losses from 2021 to 2025 are as follows: 3.944 billion yuan in 2021, 2.763 billion yuan in 2022, 1.329 billion yuan in 2023, 1.465 billion yuan in 2024, and 2.14 billion yuan in 2025, totaling over 11.6 billion yuan [4]. Strategic Adjustments - Yonghui has attempted various strategies to reverse its declining performance, including launching "Super Species" for fresh food and dining, establishing Yonghui MINI community stores, and exploring warehouse stores and digital transformation, but these efforts have not yielded positive results [4]. - The company has faced increased costs due to store adjustments, supply chain reforms, and asset impairments, which have contributed to the widening losses [5]. Market Reaction - Following the announcement of a support plan from the management of "Fat Donglai," Yonghui's stock price rose over 20% in three consecutive trading days, indicating market optimism regarding the company's transformation efforts [5].