北水抢筹大金融板块。中国平安(02318)、中国人寿(02628)、中金公司(03908)分别获净买入18.4亿、5.88亿港元、1.85亿港 元。消息面上，国金证券发布研报指出，2026年开门红高景气的延续是本轮保险行情持续的重要支撑。从负债端的展望 来看，存款搬家有望驱动新单与NBV双位数正增长，利差继续改善，分红险转型将助推行业市占率进一步提升。该行还 表示，建议继续重点关注春季躁动行情下低估值券商的补涨机会，强烈推荐估值及业绩错配程度较大的优质券商，建议 关注AH溢价率较高、有收并购主题的券商。 智通财经APP获悉，1月6日港股市场，北水成交净买入28.79亿港元，其中港股通(沪)成交净买入9.75亿港元，港股通(深) 成交净买入19.03亿港元。 北水净买入最多的个股是中国平安(02318)、阿里巴巴-W(09988)、中国人寿(02628)。北水净卖出最多的个股是中国移动 (00941)、腾讯(00700)、华虹半导体(01347)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 阿里巴巴-W HK 09 ...

日前，马斯克表示其脑机接口公司Neuralink将于2026年开始对脑机接口设备进行"大规模生产"。作 为生命科学与信息技术融合的前沿领域，脑机接口现在正处于政策支持加码、技术快速迭代、商业化 加速落地的关键阶段，相关技术预计将在2026年迈向商业化，并从医疗刚需向AI应用、机器人等多 领域渗透。《研报金选·行业》于2025年6月25日、8月11日、12月29日多次提示关注相关领域投资机 会，截至目前，代表公司如翔宇医疗累计涨幅超过130%、创新医疗涨幅超100%、三博脑科等上涨超 70%。 前言 券商研报信息复杂？机构调研数据过时？屡屡错失投资机会？那是你不会挖！想知道哪份研报有用？什 么时候该看？《研报金选》满足你！每日拆解热门产业链或核心公司，快市场一步的投研思维+严苛的 研报选择标准+几近偏执的超预期挖掘，游资私募都在用！ 【金选回顾】 ②AI浪潮驱动存储量价齐升，DRAM价格已飙涨171.8%！海外限制再收紧，国内晶圆厂加速"国产替 代"，这些设备厂商成核心受益标的； ③ 广东新政力挺险资入市，保险股迎"资产+负债"双击； ④ 央企巨头领投10亿押宝雷鸟创新，AI眼镜赛道引爆在即。 点击付费阅读，解 ...

Core Viewpoint - The article discusses the significant price reduction in medical consumables across China, driven by new policies aimed at addressing the issue of inflated prices, which is reshaping the competitive landscape of the pharmaceutical industry [4][6][10]. Policy Implementation - The current price governance features "full coverage and dynamic adjustment," with various regions implementing complementary policies to manage prices effectively [6][10]. - Ningxia's recent notification requires companies to confirm the national minimum effective price by January 28, 2026, targeting high-risk consumables [6]. - Jiangxi initiated a normalization of price linkage in November 2025, expanding management to all listed consumables, while Heilongjiang's policy covers all listed products [6][7]. Price Reduction Impact - Medical consumables are experiencing drastic price drops, with some products seeing reductions of over 97%, such as ultrasound endoscope water bags dropping from 4,400 yuan to 127.15 yuan [7]. - High-value consumables like coronary stents have decreased from an average of 13,000 yuan to around 700 yuan, a reduction exceeding 93% [7]. - The cumulative savings from the centralized procurement of coronary stents and artificial joints from 2020 to 2025 exceed 200 billion yuan and 150 billion yuan, respectively [8]. Industry Restructuring - The introduction of a "floor price" is accelerating the reshaping and transformation of the medical consumables industry, ending the previous model reliant on regional price differences [10]. - Companies that fail to adjust prices in a timely manner face suspension from listing, particularly affecting small and medium-sized manufacturers [10]. - The competitive landscape is shifting, with domestic brands outperforming foreign companies in procurement bids due to significantly lower pricing [10]. Market Regulation Mechanism - The new market regulation mechanism is characterized by "normalization and intelligence," allowing for real-time monitoring and automatic price comparisons across the country [11]. - The goal is to establish a unified national pricing system, enhancing transparency and efficiency in the industry [12]. - Companies are encouraged to adapt to a compliant and transparent market environment, focusing on cost control and increased R&D investment in high-value products [12]. Future Outlook - The ongoing price governance is seen as a necessary step towards high-quality development in the medical industry, balancing price control with innovation incentives [12]. - The industry is expected to transition towards a model that prioritizes innovation, quality, and patient value, moving away from rapid, unregulated growth [12].

内存条涨疯了！ 32G规格的内存条，从年初的不足800元，涨至现在2200多元。 难怪有网友戏称，内存条已经变成了"金条"。 什么导致存储芯片价格"坐上了火箭"？ 对中国供应链有何影响？ 01 涨价 "早买早享受，晚买有折扣。" 这是电子产品市场的普遍规律。 最近的存储芯片价格，却让消费者大跌眼镜。 2025年三季度以来，全球存储芯片市场出现一轮"史诗级"涨价潮。 32GB内存条价格上涨走势 还需要注意的是，存储产能扩建需2-3年周期，各大厂商此前因风险顾虑未按预期扩产，短期内供需缺口难以填补。 分析机构Counterpoint据此预测，明年年初，存储还将再涨20%。 华尔街投资机构伯恩斯坦在最新研报中预判，涨势或持续至2026年上半年。 存储涨价，几家欢喜几家愁。 直接受益者，当然是存储厂家。 三星电子，2025年第三季度财报实现营业利润12.16万亿韩元（约合85.6亿美元），同比增长32.2%。其中，存储业务销售额26.7万亿韩元，创历史新高。 美光，2026财年第一财季（截至2025年11月27日）业绩表现非常强劲，调整后营收达136.4亿美元，同比增长57%，远超分析师预期的129.5亿美元；经调 ...

行业主要上市公司：力合微(688589)、乐鑫科技(688018)、博通集成(603068)、全志科技(300458)等。 通信芯片行业产业链全景梳理 通信芯片产业链上游原料及配料供应商主要有中芯国际、中环股份、南大光电、北方华创、芯源微和电 科装备等。中游的芯片制造生产商主要有力合微、乐鑫科技等。产业链下游应用服务商包括阿里云智 能、中移物联网、海尔智能、小米等。 通信芯片产业代表性企业主要投资动向 近年来，中国通信芯片行业产线与项目投资活跃。立昂微50亿元投建海宁基地二期，剑指国内最大微波 射频芯片生产基地;光迅科技斥资67.5亿元建高端光电子及硅光芯片产业化项目，聚焦高速光模块研发; 柠檬光子1亿元启动半导体激光芯片制造项目，分阶段构建产业生态;芯辰半导体8亿元苏州太仓IDM生 产线2024年12月量产，填补国内高端光芯片制造空白。 | 时间 | 投资方 | 具体情况 | | --- | --- | --- | | | | 立昂微海宁基地二期总投资 50 亿元的年产 36 万片 6 英寸微波射频芯片及器件项目 | | 2025年 | 立昂微 | 已入选浙江省"千项万亿"重大项目,主体工程部分投用。该项目 ...

Core Viewpoint - The CMOS Image Sensor (CIS) market is experiencing structural growth, driven by the increasing penetration of L3+ autonomous driving, which is expected to increase the number of cameras per vehicle from 5-8 to 8-15 [3][4]. Market Position - The company has established a dual-layer market position as "third globally, first in segments." In 2024, the company holds a 13.7% share of the global CIS market, ranking third after Sony (approximately 40%) and Samsung (approximately 20%) [4]. - In the automotive CIS segment, the company leads with a projected market share of 32.9% in 2024, making it the global leader [5]. Business Composition - The company's core business is centered around CIS chips, which accounted for 82% of total revenue in 2023, expected to rise to 85% in 2024 and 88% by 2025. Other business segments, including display driver chips and semiconductor distribution, are gradually shrinking [5]. Financial Performance - In the first three quarters of 2025, the company achieved revenue of 21.78 billion yuan, a 15% year-on-year increase, and a net profit of 3.2 billion yuan, up 35% year-on-year. The third quarter of 2025 saw a record net profit of 1.1 billion yuan [6]. - The automotive CIS business generated 3.8 billion yuan in revenue in the first half of 2025, reflecting a 30% year-on-year growth, and is expected to maintain a growth rate of over 30% in 2026 [8]. Technological Advancements - The company has made significant strides in technology, with a total of 4,761 authorized patents as of June 2025. R&D expenses reached 2.1 billion yuan in the first nine months of 2025, accounting for over 9% of revenue, consistently above the industry average [10]. - The company is closing the gap in key technical indicators, with plans to launch a 160-megapixel sensor in 2024 and a 200-megapixel prototype in 2025, although it still trails behind Sony and Samsung in pixel count [13]. Globalization and Client Base - The company's business is highly internationalized, with overseas revenue expected to reach 21 billion yuan in 2024, accounting for 81.5% of total revenue. The top five clients include major smartphone brands and electric vehicle manufacturers, indicating a high client concentration [13]. - The company is strategically focusing on high-growth sectors such as automotive electronics and security monitoring, anticipating an increase in market share in these areas [13]. Future Plans - To strengthen its technological advantage and expand its global market presence, the company plans to issue up to 7.367 million shares, with proceeds aimed at R&D and channel development for new automotive and smartphone CIS products [14]. Market Observations - Since 2025, the company's stock price has experienced significant volatility, reflecting broader semiconductor market trends, and is currently stabilizing [15].

Core Viewpoint - The Hong Kong stock market experienced significant net buying from Northbound funds, totaling HKD 28.79 billion, with notable net purchases in major financial stocks and technology companies [1]. Group 1: Northbound Fund Activity - Northbound funds recorded a net purchase of HKD 28.79 billion, with HKD 9.75 billion from the Shanghai Stock Connect and HKD 19.03 billion from the Shenzhen Stock Connect [1]. - The most purchased stocks included China Ping An (02318), Alibaba-W (09988), and China Life (02628) [1]. - The most sold stocks were China Mobile (00941), Tencent (00700), and Hua Hong Semiconductor (01347) [1]. Group 2: Individual Stock Performance - Alibaba-W (09988) saw a net inflow of HKD 16.19 billion, driven by its advancements in AI and cloud services [5]. - China Ping An (02318) received a net purchase of HKD 12.26 billion, supported by positive market sentiment towards the insurance sector [4]. - Xiaomi Group-W (01810) had a net inflow of HKD 4.96 billion, with ambitious delivery targets for its automotive division [5]. - Kuaishou-W (01024) attracted a net purchase of HKD 2.34 billion, bolstered by strong performance in AI-generated content [5]. - Goldwind Technology (02208) gained a net inflow of HKD 1.7 billion, linked to its stake in Blue Arrow Aerospace [6]. Group 3: Sector Trends - The financial sector, particularly insurance stocks like China Ping An and China Life, is experiencing a bullish trend, supported by favorable market conditions and growth projections [4]. - Semiconductor stocks showed mixed results, with SMIC (00981) receiving a net inflow of HKD 224 million, while Hua Hong Semiconductor (01347) faced a net outflow of HKD 2.08 billion [6][7]. - The overall market sentiment indicates a shift towards sectors benefiting from AI and technology advancements, with significant interest in companies positioned in these areas [5][6].

智通財經APP獲悉，1月6日港股市場，北水成交淨買入28.79億港元，其中港股通(滬)成交淨買入9.75億港元，港股通(深) 成交淨買入19.03億港元。 北水淨買入最多的個股是中國平安(02318)、阿里巴巴-W(09988)、中國人壽(02628)。北水淨賣出最多的個股是中國移動 (00941)、騰訊(00700)、華虹半導體(01347)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 阿里巴巴-W | 35.55 乙 | 14.94 乙 | 50.49亿 | | HK 09988 | | | +20.61 乙 | | 中芯国际 | 20.94亿 | 23.33 乙 | 44.27 乙 | | HK 00981 | | | -2.40 Z | | 腾讯控股 HK 00700 | 20.61亿 | 20.49亿 | 41.10 乙 +1125.55万 | | 小米集团-W | 13.65 亿 | 8.80亿 | 22.44 Z | | HK 01810 | | | +4.85亿 | | 中国平安 | 12.26亿 ...

以下文章来源于公募排排网 ，作者排排产品研究中心 公募排排网 . 看财经、查排名、买基金，就上公募排排网，申购费低至0.001折。 本文首发于公众号"公募排排网"。（点击↑↑上图查看详情） 2026年首个交易日，A股迎来"开门红" 2026年首个交易日，A股迎来"开门红"。 在节前上涨趋势延续的背景下，三大指数高开高走， 上证指数盘中重返4000点， 节前积累的风险偏 好在节后集中释放，市场情绪明显修复。 从结构看，科技与成长板块成为主要做多力量。 AI、半导体、脑机接口等科技与新兴产业板块表现突出，多只核心标的涨停或领涨，对指数形成显著拉动效应，也进一步强化了市场对中长期产 业趋势的定价。 资金层面，人民币汇率企稳回升提供边际支撑。 近期人民币对美元汇率呈现稳中有升态势，在岸汇率一度回到6.98区间下方，有助于改善跨境资金预期，提升以人民币计价资产的相对吸引力， 为外资回流与流动性修复创造有利环境。 外部环境方面，港股与海外市场形成正向联动。 一是科技成长方向， 包括人工智能全产业链，以及半导体设备、材料等国产替代环节； 二是先进制造领域， 关注储能、光伏出海及新能源汽车智能驾驶渗透率提升； 三是顺周期与消 ...

（原标题：韩国股指暴力破4500点 上证"13连阳"站稳4000点! 亚洲股市2026开年"杀疯了" 创历史最佳开 局） 智通财经APP获悉，亚洲股市堪称2026年开年全球最强股票市场——迎来史上最佳年度开局表现，随着 投资者们在估值高企的美国股票市场之外积极寻找投资机遇，尤其是与AI投资主题密切相关联的投资 机遇，该地区的主权货币与主权债券价格也一同上涨。 最新统计数据显示，MSCI亚太基准指数(MSCI Asia Pacific Index)在2026年开年之后的股票市场交易日 里累计上涨约4%，势将创下该基准指数自1988年有记录以来最为强劲的年初交易日表现，其中韩国和 中国台湾股市领涨，港股与A股市场则不甘示弱，强劲的涨势紧随前两者其后。衡量该地区主权货币的 一项指标录得自2023年以来最佳年度开局，而以美元计价的亚洲市场公司债基准指数也实现同步上涨。 "美国市场的例外主义论调已触顶，并开始回撤，"来自Banque Pictet & Cie SA的管理合伙人Raymond Sagayam在接受媒体采访时表示。他强调，亚洲等新兴市场股市将受益于多项顺风因素，主要包括非常 具有吸引力的估值以及位列全球AI ...