1月5日，A股三大指数集体高开。截至发稿，深证成指和创业板指涨超1%，科创50指数涨逾2%。 盘面上，人脑工程、航空、有色、通信设备、半导体等板块涨幅居前；公共交通、通用机械、运输服 务、传媒娱乐等板块跌幅居前。 保险板块盘中拉升，新华保险涨超6%，创历史新高，中国平安、中国人寿、中国人保、中国太保纷纷 上扬。 | 行情报价 封板竞价 | | | | | | --- | --- | --- | --- | --- | | ▼指 代码 名称 · · 涨幅%, | | | 现价 | 涨跌 | | 1 | 601336 新华保险 | R 6.93 | 74.53 | 4.83 | | 2 | 601318 中国平安 | R 4.27 71.32 71.32 | | 2.92 | | 3 | 601601 中国太保 | 4.18 R = | 43.66 | 1.75 | | ব | 601628 中国人寿 | p 3.71 47.19 | | 1.69 | | ഗ | 601319 中国人保 | 3.69 -------- Read | 9.28 | 0.33 | 白酒概念盘初拉升，怡亚通涨超3%，贵州茅台涨近2%， ...

Group 1 - The company has indicated that some of its products can be applied in the robotics sector [1] - However, the company has not made any formal shipments in the robotics business as of now [1]

Core Insights - The Hong Kong Stock Exchange Technology 100 Index (HKEXT100) has risen by 1.14% as of January 5, 2026, with most of the top ten weighted stocks showing positive performance [1] - The index tracks the performance of the 100 largest technology companies listed on the Hong Kong Stock Exchange, covering six major innovative themes [1] - The launch of the HKEXT100 index highlights the key role of the Hong Kong market in promoting the development of emerging industries [1] Stock Performance - Kuaishou-W increased by 10.87% - Innovent Biologics rose by 6.15% - BeiGene gained 5.47% - WuXi Biologics went up by 3.69% - Alibaba-W saw an increase of 2.48% - SMIC rose by 2.33% - Tencent Holdings increased by 0.48% - Meituan-W decreased by 0.10% - BYD Company fell by 1.87% - Xiaomi Group-W dropped by 2.33% [1] Index Features - The HKEXT100 index includes companies involved in artificial intelligence, biotechnology and pharmaceuticals, electric vehicles and smart driving, information technology, internet, and robotics [1] - All constituent stocks meet the qualifications for southbound trading, providing investors with an effective and comprehensive investment tool [1] - The index aims to help investors seize opportunities in technology and emerging sectors [1]

聚杰微纤（300819.SZ）1月5日在投资者互动平台表示，目前，公司仿生驱动纤维材料的应用研发工作 还在进行中，现阶段尚未实现产品的量产与销售。在此，提醒各位投资者留意投资过程中可能存在的风 险。 每经AI快讯，有投资者在投资者互动平台提问：贵公司的产品有没有应在在机器人上面？ （记者 王瀚黎） ...

Core Viewpoint - The innovative drug sector in China is experiencing significant growth, with a record number of approved innovative drugs and substantial increases in licensing transactions, indicating a strong market potential and investment opportunities in the pharmaceutical industry [1] Industry Summary - As of 2025, China has approved 76 innovative drugs, surpassing the 48 approved in 2024, marking a historical high [1] - The total value of licensing transactions for innovative drugs in China is expected to exceed $130 billion, with over 150 transactions, also a historical high [1] - The pharmaceutical research outsourcing sector is benefiting from a recovery in industry demand, with companies like WuXi AppTec and Hao Yuan Medical showing excellent growth [1] Company Summary - Companies in the innovative drug sector, such as Lepu Medical, Frontier Biotechnologies, and BeiGene, have seen significant stock price increases, with Lepu Medical hitting a 20% limit up and others like Frontier Biotechnologies rising over 13% [1] - The innovative drug industry's core driving factor is the breakthrough in global competitiveness of Chinese pharmaceutical companies, which are gaining recognition for their research capabilities [1] - The demand for CXO and research services within the innovative drug supply chain is expected to continue benefiting from favorable market conditions, leading to sustained performance exceeding expectations [1]

来源：新浪基金 市场有望在寻找主线中震荡上行，整体机会大于风险，操作上可保持积极，在科技成长与景气修复方向 中择优配置。短期来看，市场已进入针对春季行情的做多窗口。在节后增量资金回补下，有放大波动 率、选择方向的需求，整体走势偏乐观。 配置上建议围绕高景气和产业趋势展开，包括机构回补的景气趋势方向，如调整充分、具备估值和景气 度保护的板块（光模块、PCB、锂电储能和材料）等。同时，进行科技成长的纵深挖掘，如AI端侧与应 用、机器人等，以及潜在政策催化方向，跟踪"十五五"规划相关的前沿领域，根据催化事件布局。期货 端存在补涨潜力的铜、铝等工业金属也可关注。 美股市场：有望维持震荡偏强格局，关注宏观数据和盈利 随着假期因素逐步消退和成交量恢复，市场关注点有望重新回到宏观数据、货币政策信号以及企业盈利 预期上。若利率环境保持相对友好，且经济数据未出现明显下行风险，美股在2026年初仍具备维持震荡 偏强格局的基础。但是，考虑到指数仍处于历史相对高位，结构性分化与阶段性波动回升的可能性依然 存在，市场或将在乐观预期与谨慎定价之间反复博弈。 摩根资产管理资深环球市场策略师朱超平在2026年首期《每周市场洞察》中，对海内外 ...

2026.01. 05 | 09:34 % | | | | 11 2 75 | | 09:34 % | | | | | .11 ? 75 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | < W | | | 宇树机器人指数(8841902) | | | Q < w | | | 机器人指数(884126) | | Q | | | | | 01-05 09:34:38 | | | | | | 01-05 09:34:27 | | | | 2681.33 | | 昨收 | 2703.07 | 成交额 | 32.8亿 | 9393.47 | | 昨夜 | 9410.62 | 成交额 | 83.5亿 | | -21.74 | -0.80% | 今开 | 2675.92 | 成交量 | 8857.7万 | -17.16 | -0.18% | 六分 | 9413.89 | 成交量 | 3.41Z | | 上 涨 | 5 | 即 程 | 1 | 下 跌 | 22 | 上涨 | 37 | 中 品 | 5 | 下 跌 | 7 ...

Group 1 - The core viewpoint indicates that Hong Kong automotive stocks experienced a collective decline, with Great Wall Motors falling nearly 7% and NIO and Xpeng down over 4.2% [1] - The report from CICC suggests that the domestic automotive industry in mainland China will face certain challenges in demand due to ongoing policies, while overseas sales are expected to grow steadily [1] - Investment strategy emphasizes that auto parts are favored over complete vehicles, with a focus on opportunities arising from AI-related developments in robotics, intelligent driving, and data center liquid cooling [1] Group 2 - The report highlights that new policies are expected to support the passenger vehicle market, but domestic demand still faces challenges [2] - A study by Benchmark Mineral Intelligence predicts that global electric vehicle sales growth will reach its lowest level since the pandemic, with an expected increase of only 13% to 24 million units by 2026, significantly lower than the 22% growth forecast for 2025 [2] - The slowdown in the European market and rapid decline in the U.S. market are identified as new obstacles in the transition away from fuel vehicles [2]

Group 1 - The SW auto parts index increased by 2.91% this week, ranking first in the SW automotive sector, with a year-to-date increase of 42.58% since the beginning of 2025 [2][3] - The latest trading day PE (TTM) for the SW auto parts index is at the 79.44% historical percentile, while the PB (LF) is at the 75.50% historical percentile [3] - The robot index rose by 3.73% this week, with a year-to-date increase of 62.08% since the beginning of 2025, outperforming the SW auto parts index by 0.83% [2][3] Group 2 - Key companies' weekly changes include Silver Wheel Co., which invested 380 million yuan in Sichuan Silver Wheel for capacity construction of water-cooled plates and front-end modules, expected to reach production capacity by 2029 [3] - Huada Technology announced a mid-term dividend plan for 2025, proposing a cash dividend of 0.15 yuan per share (tax included), totaling 70.46 million yuan [3] - Fuda Co. completed the transfer of 25% equity in Guilin Fuda Alfin for 48 million yuan [3] Group 3 - The top five companies by weekly increase are Xinquan Co. (+14.05%), Beite Technology (+11.64%), Top Group (+8.26%), Daimai Co. (+8.01%), and New Coordinates (+7.97%) [4] - Investment recommendations for auto parts focus on product-oriented companies and those entering high-value sectors, prioritizing potential leaders with production capacity in Europe, North America, and Southeast Asia [4] - For the robotics sector, the focus is on certainty opportunities, with the Optimus V3 expected to launch in Q1 2026, and attention on domestic applications from companies like Xiaopeng, Yushu, and Zhiyuan [4]

Core Viewpoint - Lingyi Technology is facing challenges in its business performance and financial stability as it seeks to list in Hong Kong, with concerns over customer concentration and rising trade receivables [1][2] Financial Performance - The company has shown unstable financial performance, with revenue figures of 34.5 billion RMB in 2022, 34.1 billion RMB in 2023, and a projected 44.2 billion RMB in 2024, while net profit figures were 1.596 billion RMB, 2.051 billion RMB, and 1.753 billion RMB respectively [2][3] - In the first three quarters of 2025, the company achieved revenue of 37.6 billion RMB, a year-on-year increase of 19.25%, while net profit reached 1.941 billion RMB, up 37.66% [2] Business Segments - The company operates mainly in three business segments: AI terminal business, automotive and low-altitude economy, and other businesses including new energy [2] - The AI terminal business contributed over 80% of revenue in the first three quarters of 2025, but its gross margin has been declining, from 21.2% in 2022 to 16.1% in 2024, before recovering to 17.4% in 2025 [3][4] Customer Concentration - The concentration of revenue from the top five customers has increased, rising from 49.1% of total revenue in 2022 to 56.4% in the first three quarters of 2025 [4][5] Trade Receivables - Trade and other receivables have increased significantly, from 10.217 billion RMB at the end of 2022 to 14.461 billion RMB by the end of September 2025, accounting for 49% of current assets [5] M&A Activities - The company has been active in mergers and acquisitions, with plans to use funds from its Hong Kong IPO for strategic investments and acquisitions [6] - Recent acquisitions include a 60% stake in Jiangsu Kedasite Automotive Technology Co., with concerns raised about the target's high debt and cash flow issues [6][7] - Another acquisition involves a 35% stake in Dongguan Liminda Electronics Technology Co., with a significant premium of over 34 times its net asset value [7][8] Financial Health - The company's debt has been increasing, from 19.07 billion RMB in 2022 to 28.484 billion RMB by September 2025, with short-term loans of 7.33 billion RMB and cash equivalents of only 3.665 billion RMB, indicating potential liquidity issues [8]