（文章来源：证券日报） 证券日报网讯 2月24日，重庆建工在互动平台回答投资者提问时表示，截至2026年2月13日公司股东人 数为48761户。 ...

Core Viewpoint - Chongqing Construction (600939) held its fifth board meeting to review the 2026 overall operational target plan, which may influence the company's future business strategy [1] Stock Performance - In the recent five trading days (February 9 to February 13, 2026), Chongqing Construction's stock price showed a downward trend, closing at 3.15 yuan, down from 3.22 yuan, with a cumulative decline of approximately 2.17% and a trading range of 3.79% [2] - The trading volume peaked at 18.44 million shares on February 9 and dropped to 6.63 million shares on February 13, with the turnover rate decreasing from 0.97% to 0.35%, indicating a gradual reduction in market trading activity [2] - Technically, the stock price is currently within the middle to lower band of the Bollinger Bands, with a 20-day moving average resistance level around 3.28 yuan and a support level around 3.10 yuan [2] Institutional Perspective - Institutional interest in Chongqing Construction is relatively low, with the latest sentiment being neutral, showing no significant positive or negative ratings [3] - Profit forecasts indicate that the company is expected to continue reporting net losses in 2025, putting pressure on its fundamentals [3] - The fund holding ratio is only 0.06%, reflecting a subdued market sentiment [3]

1. 公开市场操作 央行公告称，2月11日以固定利率、数量招标方式开展了785亿元7天期逆回购操作，操作利率1.40%，投标量785亿元，中标量785亿元。同时，以固定数 量、利率招标、多重价位中标方式开展了4000亿元14天期逆回购操作。Wind数据显示，当日750亿元逆回购到期，据此计算，单日净投放4035亿元。 （*数据来源：Wind-央行动态PBOC） 2. 资金面 银行间市场资金面偏紧态势缓解有限，DR001加权平均利率小幅上行并徘徊于1.37%附近。匿名点击（X-repo）系统上，隔夜报价在1.35%供给明显收敛。 海外方面，最新美国隔夜融资担保利率为3.63%。 （IMM） // 债市综述 // 非银机构以信用债为抵押融入隔夜以及跨节资金，报价在1.6%上方。 3. 同业存单 （*数据来源：Wind-同业存单-发行结果） （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） 全国和主要股份制银行一年期同业存单最新成交在1.59%附近，较上日小幅下行。 4. 银行间主要利率债收益率 涨跌不一，长券表现较好 | （*数据来源：Wind-成交统计BMW） | | --- | 5. 近期城投债（A ...

经过近半年的建设，滇池绿道三个半岛段虾坝河新建桥梁已基本完工，目前工程正在收尾，计划春节前开放。届时，全长10公里的滇池绿道三个半岛段将 实现全线贯通。这座以"叠虹"为设计理念的新桥，不仅是一座贯通空间、延续文脉、践行生态的综合性景观桥，而且通过引入光伏发电等绿色技术，成为 一座"绿色桥""节能桥"。 虾坝河新桥，位于官渡区福保半岛与宝丰半岛之间的虾坝河上，是连接草海段绿道与外海段绿道的关键节点工程。由官渡区投资建设，重庆建工集团施 工。 项目的建成，将滇池绿道的"断点"转化为"亮点"，系统完善慢行网络，实现空间贯通、生态延续与人文体验的三重融合。市民和游客可以更流畅、更安全 地漫步骑行，沉浸于山湖一色的画卷中。 来源：昆明日报 编辑：毕群 桥体采用轻型钢结构与高延性混凝土施工构建，在模拟石拱桥质感的同时，大幅减少现场湿作业并缩短工期，最大限度保护生态完整性与稳定性。 桥梁在设计中创新融入屋顶光伏系统。桥顶覆盖高效光伏板，在不影响整体美学的前提下，将太阳能转化为电能，用于桥体夜景照明、监控系统及周边绿 道设施的供电需求。这一设计不仅减少对传统电网的依赖，降低运维成本，更生动诠释了"生态优先、可持续发展"的理念 ...

Group 1 - The Chongqing state-owned enterprise reform sector increased by 0.61% compared to the previous trading day, with Qianli Technology leading the gains [1] - On the same day, the Shanghai Composite Index closed at 4131.98, up 0.09%, while the Shenzhen Component Index closed at 14160.93, down 0.35% [1] - The trading volume and turnover for Qianli Technology were 347,300 shares and 369 million yuan, respectively, with a price increase of 2.22% [1] Group 2 - The net outflow of main funds in the Chongqing state-owned enterprise reform sector was 2.3995 million yuan, while retail investors saw a net inflow of 4.728 million yuan [2] - The trading data indicates that Qianli Technology had a net inflow of 25.4663 million yuan from main funds, while retail investors had a net outflow of 1.3324 million yuan [3] - The overall performance of stocks in the sector showed mixed results, with some stocks like Qianli Technology and Sanfeng Environment experiencing gains, while others like Chongqing Port and Chongqing Water experienced losses [3]

// 债市综述 // 1. 公开市场操作 央行公告称， 2 月 10 日以固定利率、数量招标方式开展了 3114 亿元 7 天期逆回购操作，操作利率 1.40% ，投标量 3114 亿元，中标量 3114 亿元。 Wind 数据显示，当日 1055 亿元逆回购到期，据此 计算，单日净投放 2059 亿元。 银行间市场资金面整体偏紧， DR001 加权平均利率上行超 9bp 至 1.36% 上方。匿名点击（ X-repo ）系 统上，隔夜报价在 1.35% 供给一般。非银机构以信用债为抵押融入隔夜以及跨节资金，报价分别升至 1.6% 及 1.65% 上方。 海外方面，最新美国隔夜融资担保利率为 3.64% 。 （IMM） （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） 3. 同业存单 全国和主要股份制银行一年期同业存单最新成交在 1.59% 附近，较上日小幅上行。 （*数据来源：Wind-同业存单-发行结果） 4. 银行间主要利率债收益率 （*数据来源：Wind-央行动态PBOC） 2. 资金面 | （*数据来源：Wind-成交统计BMW） | | --- | 5. 近期城投债（AAA）各期限利差走 ...

Market Overview - The Chongqing state-owned enterprise reform sector declined by 0.7% compared to the previous trading day, with Chongqing Pharmaceutical Holdings leading the decline [1] - The Shanghai Composite Index closed at 4128.37, up 0.13%, while the Shenzhen Component Index closed at 14210.63, up 0.02% [1] Stock Performance - Notable stock performances include: - Shanghai Sanmao (600689) closed at 14.29, up 0.78% with a trading volume of 30,300 shares and a turnover of 43.27 million yuan - Chongqing Construction (600939) closed at 3.23, up 0.31% with a trading volume of 133,800 shares and a turnover of 43.05 million yuan - Chongqing Pharmaceutical Holdings (000950) closed at 5.90, down 1.83% with a trading volume of 366,700 shares and a turnover of 218 million yuan [1][2] Capital Flow - The Chongqing state-owned enterprise reform sector experienced a net outflow of 119 million yuan from institutional investors, while retail investors saw a net inflow of 62.65 million yuan [2] - The capital flow for individual stocks shows: - Jieling Pickled Vegetables (002507) had a net inflow of 5.71 million yuan from institutional investors, but a net outflow of 13.01 million yuan from retail investors [3] - Chongqing Water (601158) had a net outflow of 3.40 million yuan from institutional investors, with a net inflow of 1.18 million yuan from retail investors [3]

// 债市综述 // 1. 公开市场操作 央行公告称， 2 月 9 日以固定利率、数量招标方式开展了 1130 亿元 7 天期逆回购操作，操作利率 1.40% ，投标量 1130 亿元，中标量 1130 亿元。 Wind 数据显示，当日 750 亿元逆回购到期，据此计 算，单日净投放 380 亿元。 （*数据来源：Wind-利差分析） （*数据来源：Wind-央行动态PBOC） 2. 资金面 银行间市场资金面整体平稳， DR001 加权平均利率小降并徘徊于 1.27% 低位， DR007 、 DR014 则因 长假因素有所上行。匿名点击（ X-repo ）系统上，隔夜报价在 1.25% 供给持续充裕。非银机构以信用 债为抵押融入隔夜，报价仍处 1.5% 下方；跨春节需求有所升温，利率仍相对平稳，在 1.6% 附近或稍 低位置。 海外方面，最新美国隔夜融资担保利率为 3.65% 。 全国和主要股份制银行一年期同业存单最新成交在 1.58% 附近，较上日小幅下行。 （IMM） （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） 3. 同业存单 （*数据来源：Wind-同业存单-发行结果） 4. 银行间主要 ...

Investment Rating - The investment rating for the construction decoration industry is "Positive" (maintained) [4] Core Viewpoints - The State Council meeting on February 6 emphasized the importance of effective investment for stabilizing economic growth, with major projects being a key focus for the "14th Five-Year Plan" [4][11] - In 2026, various provinces are disclosing major project lists, maintaining high investment intensity, with many provinces planning investments around 1 trillion yuan, indicating that stabilizing investment remains a core strategy for local economic work [5][12] - Infrastructure projects dominate the disclosed lists, with significant investments in transportation, municipal, water conservancy, and energy sectors, while advanced manufacturing and new energy projects are also on the rise, reflecting a focus on industrial upgrades and future growth [5][12] Summary by Sections 1. Weekly Insights - The State Council has set the direction for effective investment, highlighting major projects as crucial for the "14th Five-Year Plan" [11] - The focus is on long-term development needs and building future competitive advantages in key areas such as infrastructure and emerging industries [11] 2. Company Dynamics 2.1. Order-related - Companies like Chongqing Construction and Beixin Road and Bridge have secured significant project contracts, with Chongqing Construction winning two major projects worth approximately 11.19 billion yuan combined [14] 2.2. Other - Companies are engaging in strategic moves such as equity transfers and establishing investment funds to focus on sectors like intelligent manufacturing and new materials [16] 3. Market Review 3.1. Sector Tracking - The Shanghai Composite Index fell by 1.27%, while the construction decoration index dropped by 1.81%, with only a few stocks showing gains [17] 3.2. Major Transactions - A total of three companies engaged in block trades, with significant transaction volumes reported [18] 3.3. Infrastructure Data Tracking - New special bonds issued this week amounted to 134.28 billion yuan, with a cumulative issuance of 516.46 billion yuan, reflecting a year-on-year increase of 125.35% [22] 3.4. Funding Tracking - The macroeconomic indicators show a slight decline in the USD to RMB exchange rate and a decrease in the yield of ten-year government bonds [24]

Group 1: Open Market Operations - The central bank conducted a 315 billion yuan 7-day reverse repurchase operation at a fixed rate of 1.40%, with a total bid and winning amount of 315 billion yuan [1] - Additionally, a 3000 billion yuan 14-day reverse repurchase operation was carried out, with a total of 6000 billion yuan in 14-day reverse repos conducted over two days to support the liquidity during the Spring Festival [1] Group 2: Funding Conditions - The interbank market is experiencing a more relaxed funding environment, with the weighted average rate of DR001 dropping over 4 basis points to around 1.27% [3] - Overnight quotes in the anonymous click (X-repo) system fell to 1.25%, indicating ample supply, while non-bank institutions borrowed overnight against credit bonds at rates below 1.5% [3] - The latest overnight financing rate in the U.S. stands at 3.65% [3] Group 3: Interbank Certificates of Deposit - The latest transaction for one-year interbank certificates of deposit in the secondary market is around 1.590% [7] Group 4: Bond Market Overview - The yields on major interbank rate bonds have mostly decreased, with specific yields for various maturities showing declines, such as the 1-year government bond yield at 1.3125% and the 10-year yield at 1.8010% [10] - The data indicates a general downward trend in yields across different types of bonds, including government bonds and policy bank bonds [10] Group 5: Recent Economic Indicators - The Asian Manufacturing Purchasing Managers' Index (PMI) for January 2026 is reported at 51%, a slight decrease of 0.1 percentage points from the previous month, indicating continued expansion in the manufacturing sector [14] - The global manufacturing PMI increased by 1.5 percentage points to 51% in January [14] Group 6: Global Monetary Policy - The European Central Bank has maintained its benchmark interest rate, marking the fifth consecutive pause in rate cuts since June of the previous year, with officials closely monitoring the impact of euro appreciation on export competitiveness and inflation [16]