来源：光大证券微资讯 热点聚焦 1、隔夜美股科技股反弹提振市场情绪，纳指大涨近1%，道指再创历史新高。甲骨文涨超9%，微软、 博通涨超3%。COMEX黄金期货涨超2%，COMEX白银期货大涨8%。美东时间2月9日，美元大幅走 弱，衡量美元对六种主要货币的美元指数大跌0.84%，跌破97关口。美国亚特兰大联储主席博斯蒂克表 示，他开始看到人们对美元信心产生质疑。 2、隔夜，纳斯达克中国金龙指数收涨0.12%。恒指期货夜盘收涨0.62%，报27221点，高水194点。新兴 市场ETF连续第16周吸金。今年迄今为止，资金流入合计260亿美元。当周，中国流入2.151亿美元，前 一周流入为11.5亿美元。2月9日17:14，离岸人民币兑美元升破6.92，日内涨超100点，涨幅约0.15%。 3、隔夜，WTI原油期货收涨1.27%，报64.36美元/桶；布油期货收涨1.45%，报69.04美元/桶。此前，美 国向途经霍尔木兹海峡商船发布指南，建议"悬挂美国国旗的商船尽可能远离伊朗领海，并在被伊朗军 队要求登船时口头拒绝——如果伊朗军队登船，船员不应强行抵抗"。 4、谷歌母公司Alphabet Inc.计划通过发行美元债 ...

Market Data - As of February 9, the Shanghai Composite Index rose by 1.41% to 4123.09 points, the Sci-Tech Innovation 50 Index increased by 2.51% to 1458.16 points, the Shenzhen Component Index climbed by 2.17% to 14208.44 points, and the ChiNext Index surged by 2.98% to 3332.77 points [1] - On the same day, all three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up by 0.04% to 50135.87 points, the S&P 500 Index rising by 0.47% to 6964.82 points, and the Nasdaq Composite Index increasing by 0.9% to 23238.67 points [1] - International oil prices rose on February 9, with light crude oil futures for March delivery increasing by $0.81 to $64.36 per barrel, a rise of 1.27%, and Brent crude oil futures for April delivery up by $0.99 to $69.04 per barrel, a rise of 1.45% [1] Financial News - On February 9, the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange launched a package of measures to optimize refinancing, aimed at enhancing flexibility and convenience for technology innovation and new productivity development. The measures include increased support for quality listed companies, better adaptation to the refinancing needs of tech innovation enterprises, enhanced refinancing flexibility, and strengthened regulatory oversight throughout the refinancing process [2] - The Ministry of Commerce held a meeting on February 6 to discuss automotive consumption, emphasizing the potential for expanding automobile consumption in China. The ministry plans to implement policies to support and innovate in the automotive sector, including optimizing the vehicle trade-in program and conducting pilot reforms in automotive circulation [2] - The Ministry of Human Resources and Social Security, along with other departments, is working to protect the rights of workers in new employment forms, conducting administrative guidance for 16 companies including Meituan and Didi, requiring them to improve labor management and ensure worker rights [3] - The State Administration for Market Regulation announced new regulations for the management of bulk liquid food transportation, establishing a comprehensive system for safety and traceability in this sector [4] - The China Futures Industry Association reported that in January 2026, the national futures market saw a trading volume of 9.12 billion contracts and a turnover of 100.26 trillion yuan, representing year-on-year increases of 65.09% and 105.14%, respectively, indicating active trading and support for high-quality economic development [4] - On February 9, Chongqing introduced new policies to stabilize the real estate market, proposing 22 measures to optimize housing supply, reduce purchasing costs, and encourage transactions, including subsidies and increased support for loans [4] - On February 9, Zhongke Shuguang announced plans to issue convertible bonds to raise up to 8 billion yuan, marking the first refinancing proposal following the new refinancing policies [5]

沪深北交易所优化再融资政策支持优质及科创企业融资主板引入"轻资产、高研发投入"认定标准 商务部：我国超大规模市场基础牢全链条扩大汽车消费大有可为 市场监管总局发布系列制度文件加强重点液态食品道路散装运输管理 2月9日，沪深北交易所宣布优化再融资一揽子措施。在进一步支持优质上市公司创新发展方面，沪深北交易所明确，对经营治理与信息披露规范，具有代表 性与市场认可度的优质上市公司，优化再融资审核，进一步提高再融资效率。同时，为更好适应科创企业再融资需求，沪深交易所已修订上市公司"轻资 产、高研发投入"规则，明确主板企业认定标准。沪深北交易所存在破发情形的上市公司，可以通过定增、发行可转债等方式合理融资，募集资金需投向主 营业务。此外，沪深北交易所还明确提升再融资灵活性、便利度，加强再融资全过程监管。（新华社） 俄罗斯外交部长拉夫罗夫9日表示，俄罗斯绝不允许在乌克兰境内部署任何威胁俄安全利益的武器。（新华社） 日本东京电力公司9日说，为调查故障原因而暂时关闭的日本柏崎刈羽核电站6号机组9日再次启动。（新华社） 日本厚生劳动省9日公布的初步统计结果显示，由于通货膨胀持续，扣除物价上涨因素后，2025年日本人均实际工资比 ...

Group 1 - The optimistic expectation for the post-holiday market is supported by factors such as accelerated policy catalysis, improved funding conditions, and the release of some risks from previous adjustments [1][10] - The Ministry of Commerce held a seminar with automotive industry representatives to discuss measures to expand automobile consumption, emphasizing the potential of China's large market and the need for policy support and reform [4] - The Ministry of Human Resources and Social Security is guiding companies in the new employment form to improve labor management and protect workers' rights, focusing on major delivery platforms [3][5] Group 2 - The recent announcement of tax incentives for cross-border e-commerce export returns aims to boost the sector by exempting certain goods from import duties and taxes during a specified period [3] - The stock market showed positive trends, with major indices like the Dow Jones reaching new highs, indicating a favorable investment environment [7] - Precious metals and oil prices have seen significant increases, with COMEX gold futures rising over 2% and WTI crude oil prices up by 1.27%, reflecting strong market demand [8]

《科创板日报》2月10日讯 今日科创板早报主要内容有：高德打车被约谈；三星显示正考虑扩大OLED 面板产能；埃夫特：拟购买盛普股份100%股份。 交通运输新业态协同监管部际联席会议办公室约谈高德打车 交通运输新业态协同监管部际联席会议办公室组织对高德打车进行了约谈。约谈指出了高德打车对合作 网约车平台管理不到位、压低运价、应急处置不当等突出问题，并要求高德打车立即落实约谈要求，深 刻反思，采取针对性措施，确保全面整改到位，切实维护司机群体合法权益。 认购需求空前旺盛 Alphabet料通过发行美元债筹资200亿 《科创板日报》主播小K为您播报。 市场动态 习近平：建设社会主义现代化强国 关键在科技自立自强 9日上午，习近平总书记在位于北京亦庄的国家信创园考察科技创新工作，走进展厅察看人工智能、机 器人等科技创新成果展示，并同科研人员和科技企业负责人代表亲切交流。习近平说，建设社会主义现 代化强国，关键在科技自立自强。要充分发挥我们国家集中力量办大事的优势，把各种优质要素集合起 来攻关，加快解决突出短板问题，实现我们的战略目标。 七部门对头部平台企业和快递企业开展用工行政指导 人力资源社会保障部近日会同中央社会 ...

每经记者｜王帆 每经编辑｜金冥羽 胡玲 张喜威 1 隔夜市场 周一美股三大股指收盘普涨，道指涨0.03%，纳指涨0.90%，标普涨0.45%。英伟达涨超2%，苹果跌超1%，谷歌微涨，微软涨超3%，亚马逊跌0.65%， Meta涨超2%，博通涨超3%，特斯拉涨超1%。纳斯达克中国金龙指数收涨0.12%，热门中概股涨跌不一。世纪互联涨近6%，大全新能源涨逾5%，亚朵涨 超5%，新东方跌超4%，理想汽车跌逾3%，好未来跌约3%，蔚来跌近3%，哔哩哔哩跌超2%。 周一（2月9日）纽约尾盘，美元指数跌0.85%，报96.808点，日内交投区间为97.737-96.793点，整体持续震荡下行。在岸人民币兑美元（CNY）北京时间 03:00收报6.9208元，较上周五夜盘收盘涨146点。 周一（2月9日）纽约尾盘，现货白银涨6.98%，报83.2699美元/盎司，盘中一度涨超8%。COMEX白银期货涨7.67%，报82.795美元/盎司。现货黄金涨 2.01%，报5064.10美元/盎司。COMEX黄金期货涨2.04%，报5081.50美元/盎司。 标题点睛 近期，在国家文物局工作组指导下，江苏省委省政府调查组对南京博物院 ...

Group 1 - The Ministry of Human Resources and Social Security, along with six other departments, is taking measures to protect the rights of workers in new employment forms by providing administrative guidance to 16 companies including Meituan, Taobao Shanguo, JD Seconds, and Didi [1] - The involved companies are required to fully implement their responsibilities as employers, continuously improve labor management, and effectively safeguard the rights of workers in new employment forms [1]

Investment Rating - The report maintains a "Recommended" rating for key companies in the transportation sector, including SF Holding, Eastern Airlines Logistics, and Spring Airlines, among others [2]. Core Insights - The report highlights the competitive landscape in the instant retail sector, emphasizing the strategic moves by Meituan and Alibaba, which are intensifying their investments in instant retail. The market for instant retail in China is projected to grow significantly, with an expected CAGR of 43.6% from 2018 to 2026, reaching a market size of 1.2 trillion yuan by 2026 and over 2 trillion yuan by 2030 [7][14]. - The report also notes the strong performance of the aviation sector during the Spring Festival, with both passenger volume and ticket prices showing positive trends. The average ticket price for domestic economy class has increased by 4.8% year-on-year as of February 6, 2026 [44][47]. - The logistics sector, particularly SF Express, is highlighted for its rapid growth and profitability, with a 49% year-on-year revenue increase in the first half of 2025. The company is positioned as a leading independent third-party instant delivery service provider, benefiting from the expansion of the instant delivery market [22][34]. Summary by Sections Instant Retail Competition - Meituan and Alibaba are aggressively expanding their instant retail capabilities, with Meituan planning to acquire Dingdong Maicai to enhance its supply chain and delivery capabilities [12]. - The instant retail market in China is experiencing rapid growth, with significant investments from major players like Alibaba and the entry of competitors such as Pinduoduo and Douyin [14][21]. - SF Express is positioned to benefit from the tightening supply in the instant delivery sector, enhancing its competitive edge [34]. Aviation Sector - The Spring Festival has led to a surge in both passenger numbers and ticket prices, with domestic flights operating at 116.74% of 2019 levels [36]. - The average ticket price for domestic economy class has risen to 840.52 yuan, reflecting a 3.06% increase compared to the previous year [44]. - The report suggests that the strong performance in the aviation sector could catalyze investment sentiment, particularly if pre-sale performance improves [47]. Logistics and Freight - SF Express reported a significant increase in revenue and profitability, with a 120.4% year-on-year increase in net profit for the first half of 2025 [24]. - The logistics sector is expected to see continued demand growth, driven by stable demand in food delivery and retail sectors [28]. - The report recommends focusing on leading logistics companies like Eastern Airlines Logistics, which are well-positioned to capitalize on the expected demand surge during the Spring Festival [59]. Port Operations and Coal Production - The report highlights a significant increase in daily traffic at the Ganqimaodu port, with a 117.3% year-on-year increase in daily vehicle traffic [60]. - Indonesia plans to significantly reduce coal production in 2026, which may impact global coal prices and supply dynamics [72].

Group 1 - The Ministry of Human Resources and Social Security, along with several other governmental departments, is taking measures to protect the rights of workers in new employment forms by providing administrative guidance to 16 companies including Meituan, Taobao, JD, and Didi [1] - The meeting emphasized the need for these companies to fully implement their responsibilities as employers, continuously improve labor management, and effectively safeguard the rights of workers in new employment forms [1]

Group 1 - The Ministry of Human Resources and Social Security, along with six other departments, is conducting administrative guidance on labor practices for major platform and express delivery companies [2] - The initiative focuses on protecting the rights of workers in new employment forms, targeting 16 companies including Meituan, Taobao Shanguo, JD Seconds, and several express delivery firms [2] - Companies are required to fully implement their responsibilities regarding labor management and ensure the protection of workers' rights [2]