炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 记者丨唐婧 编辑丨方海平 2月24日，最新贷款市场报价利率（LPR）报价出炉。其中，1年期LPR为3.00%，5年期以上LPR为3.50%，均与上月持平。这是自2025 年5月两个期限LPR各下降10个基点之后，LPR连续9个月"按兵不动"。 贷款市场报价利率（LPR）由各报价行按公开市场操作利率（公开市场7天期逆回购利率）加点形成的方式报价，由全国银行间同业拆 借中心计算得出，为银行贷款提供定价参考。加点幅度则主要取决于各行自身资金成本、市场供求、风险溢价等因素。 东方金诚首席宏观分析师王青告诉记者，2月两个期限品种的LPR报价保持不变，符合市场预期。一方面，2月以来政策利率（央行7天 期逆回购利率）保持稳定，意味着2月LPR报价的定价基础没有发生变化，已在很大程度上预示当月LPR报价会保持不动。另一方面， 2025年四季度末商业银行净息差持续处于1.42%历史低位水平，当前报价行缺乏主动下调LPR报价加点的动力。 王青认为，2025年6月以来LPR报价一直按兵不动，背后的根本原因是受出口持续偏强、以高技术制造业为代表的新质生产力领域 ...

南方财经记者魏彤广州报道 2月24日，新春开工第一天，广东召开全省高质量发展大会，聚焦制造业与服务业协同发展。 会上，潮州市潮安区委书记曹宇波介绍，作为工业强区，潮州市潮安区2025年GDP突破720亿元、增速 4.8%，经济总量连续三年粤东县区第一，制造业增加值对GDP增长贡献率达52.8%。 二是以新质蝶变锻造制造业与服务业协同发展新引擎。潮安将突出数智赋能，实施AI赋能相关重大科 技专项，建设数字园区标杆，以三环集团AI视觉检测、航牌工业万兆PON网等示范项目引领人工智能 全面赋能传统产业。突出品牌赋能，实施区域品牌、企业品牌、产品品牌"三牌同创"行动。突出服务赋 能，推行领导干部全面联系服务企业、全生命周期服务、工业用地"敞开申报"、"企业宁静日"等机制， 打造一流营商环境。 在特色产业提效方面，潮安与中山合作开发的陶瓷灯饰成为"瓷"与"光"跨界融合新潮品，智能卫浴产量 超500万台、居全国之首，入选全省首批食品工业培育试点县，糖果出口值居全省首位；在新质动能提 速方面，国内首个商业化300千瓦固体氧化物燃料电池发电项目在潮安投产，光通信用陶瓷插芯获国家 制造业单项冠军，规上工业企业连续三年每年增长超 ...

A股三大指数早盘集体上涨，截至午间收盘，沪指涨1.17%，报4129.78点，深成指涨1.82%，报14356.88点，创业板指涨1.76%，报3333.62点，科创 50指数涨0.34%，报1475.38点。沪深两市合计成交额15103.38亿元，较上一交易日同一时间放量超30000亿元，超4000只个股上涨。 一是政策预期推动或密集落地，两会临近将明确新质生产力、新型能源体系等产业支持细则，例如6G、水电、机器人等领域有望获得专项资金或 试点推广，直接提振相关板块估值提升预期。 二是流动性环境改善，节后资金回流叠加假期人民币汇率延续强势升值，以人民币计价资产的吸引力将提升，保险、外资等长期资金入场预期强 化，为市场提供增量资金支撑，量能中枢有望回升。 中信建投：节后行情核心驱动力有望来自三方面 板块题材上，油气开采及服务、贵金属、光纤概念、磷化工、化学原料、电网设备、煤炭开采加工、CPO、港口航运板块涨幅居前；影视院线、 AI应用、云计算、旅游及酒店、保险、白酒板块跌幅居前。 盘面上，特朗普关税政策引忧，美伊局势一触即发，石油天然气、黄金、化工等资源周期股全线大涨，中曼石油、湖南白银、金牛化工等多股涨 停 ...

Core Viewpoint - The A-share market experienced a collective rise on the first trading day after the Spring Festival, with the ChiNext Index increasing by 2%, driven by strong performance in hard technology sectors and the Double Innovation Leader ETF (588330) showing significant gains [1][5]. Market Performance - On February 24, the A-share market saw all three major indices rise, with the ChiNext Index's gains reaching 2% and the Double Innovation Leader ETF (588330) peaking at a 2.12% increase during trading [1]. - The ETF's price rose by 1.8% during the session, recovering its 5-day and 20-day moving averages [1]. Sector Highlights - Leading stocks in the optical module sector surged, with Tianfu Communication rising over 14% to reach a historical high, while Zhongji Xuchuang and Xinyi Sheng increased by over 7% and 4%, respectively [1][3]. - Other notable performers included Runze Technology, which rose over 14%, and Sanhuan Group, which increased by over 12% [1][3]. Fund Inflows - The total inflow of new capital from public funds into the market exceeded 90 billion CNY, with a focus on technology growth sectors [3]. - CITIC Securities noted that the overall strong performance of global markets during the Spring Festival period contributed to a positive market sentiment in A-shares, suggesting a potential new upward trend [3]. ETF Performance - The Double Innovation Leader ETF (588330) has achieved a cumulative increase of 60.86% year-to-date, outperforming major indices such as the ChiNext 50 (57.45%) and the ChiNext Index (49.57%) [5]. - The ETF is designed to track a selection of 50 large-cap strategic emerging industry companies from the STAR Market and ChiNext, focusing on sectors like optical modules, semiconductors, and photovoltaic equipment [5]. Historical Trends - Historical data indicates that the probability of the Shanghai Composite Index and ChiNext Index rising on the first trading day after the Spring Festival is around 60% [4]. - Analysis from Zhongyuan Securities suggests that the market's upward trend is likely to continue in the following trading days, aligning with the "14th Five-Year Plan" and global monetary easing trends [4].

截至11:07，港股通创新药ETF(159570)标的指数热门股多数回调：石药集团、中国生物制药、三生制药、翰森制药、荣昌生物跌超5%，信达生物跌超4%， 康方生物跌超3%。 | 序号 | 代码 | 名称 | 估算板車 | 涨跌幅 | 17.47 80 ▼ | | --- | --- | --- | --- | --- | --- | | 1 | 1801 | 信达生物 | 10.51% | -0.56% | 6.81亿 | | 2 | 1093 | 石药集团 | 12.18% | -3.15% | 5.98 7. | | 3 | 6160 | 高密被田 | 10.99% | -1.13% | 2.83 Z | | 4 | 1530 | 三生制药 | 6.50% | -2.57% | 2.65 Z | | 5 | 9926 | 康方生物 | 8.49% | -1.33% | 2.57 Z | | 6 | 3692 | 翰森制药 | 6.84% | -1.84% | 1.99 Z | | 7 | 1177 | 中国生物制药 | 10.01% | -3.66% | 1.74Z | | 8 | 6990 | 科伦博 ...

记者了解到，LPR上一次变化是在2025年5月，1年期和5年期以上LPR均下调10个基点。王青对此认 为，受出口持续偏强、以高技术制造业为代表的新质生产力领域较快发展等推动，2025年宏观经济顶住 外部经贸波动压力及国内房地产市场调整等影响，顺利完成全年经济增长目标。2026年1月，央行根据 经济金融形势需要，先行推出一揽子结构性货币政策，强化对科技创新、小微企业等国民经济重点领域 和薄弱环节的支持力度。这也意味着短期内货币政策处于观察期，政策利率和LPR报价保持稳定。 另外，此前发布的《2025年第四季度中国货币政策执行报告》提到，继续实施好适度宽松的货币政策。 把促进经济稳定增长、物价合理回升作为货币政策的重要考量，根据国内外经济金融形势和金融市场运 行情况，把握好政策实施的力度、节奏和时机。灵活高效运用降准降息等多种政策工具，保持流动性充 裕和社会融资条件相对宽松，引导金融总量合理增长、信贷均衡投放，使社会融资规模、货币供应量增 长同经济增长、价格总水平预期目标相匹配。 人民网北京2月24日电 (记者黄盛)中国人民银行(以下简称"央行")授权全国银行间同业拆借中心公布， 2026年2月24日，贷款市场报 ...

国内市场综述 缩量整理 震荡回调 周五（2 月 13 日）大盘缩量整理，震荡回调。截至收 盘，上证综指收于 4082.07 点，下跌 1.26%；深成指 收于 14100.19 点，下跌 1.28%；科创 50 下跌 0.72%； 创业板指下跌 1.57%，万得全 A 成交额共 19989 亿元， 较前一日有所下降。 行业方面，30 个中信一级行业有 29 个下跌，其中电 有色金属、石油石化及建材跌幅居前，仅有国防军工 小幅上涨，概念方面，中航系、半导体设备及通用航 空等指数表现活跃。 海外市场综述 美国三大股指全线收跌，IBM 跌超 13% 周一（2 月 23 日），美国三大股指全线收跌，道指跌 1.66%，标普 500 指数跌 1.04%，纳指跌 1.13%。IBM 跌超 13%，美国运通跌逾 7%，领跌道指。万得美国科 技七巨头指数跌 0.99%，微软跌超 3%，特斯拉跌近 3%。 纳斯达克中国金龙指数跌 0.95%，金山云跌近 9%。 新闻精要 1. 《求是》杂志发表习近平总书记重要文章《当前经 济工作的重点任务》 2. 中国 1 月金融数据：M2 同比增 9%，社融规模增量 为 7.22 万亿元定 ...

（原标题：最新LPR报价公布，连续9个月按兵不动） 2月24日，中国人民银行授权全国银行间同业拆借中心公布，2026年2月24日贷款市场报价利率(LPR) 为：1年期LPR为3.0%，5年期以上LPR为3.5%。以上LPR在下一次发布LPR之前有效。 这是两个期限品种的LPR报价自去年6月份以来连续9个月保持不变。 东方金诚首席宏观分析师王青分析，LPR报价一直按兵不动，背后的根本原因是受出口持续偏强、以高 技术制造业为代表的新质生产力领域较快发展等推动，同时2025年宏观经济顶住外部经贸波动压力和国 内房地产市场调整等影响，顺利完成全年经济增长目标；2026年1月，央行根据经济金融形势需要，先 行推出一揽子结构性货币政策，强化对科技创新、小微企业等国民经济重点领域和薄弱环节的支持力 度。这也意味着短期内货币政策处于观察期，政策利率和LPR报价有望保持稳定。 "值得注意的是，高频数据显示，2026年一季度我国出口还会处于偏强状态，物价水平有望延续温和回 升势头。这些都为当前货币政策保持定力提供了支撑。"王青称。 展望后续，中国人民银行副行长邹澜于1月15日在国新办新闻发布会上明确指出，今年降准降息还有一 定空 ...

当前，以人工智能、高端芯片、商用航天等为代表的硬科技领域，正迎来前所未有的聚焦。这为资本市场 注入了长期且坚实的成长内核，代表创新前沿与产业升级方向的成长板块，或有望成为这轮行情的核心主 线之一。 宏观上，随着传统经济风险逐步出清、新动能持续显现，企业盈利或步入修复通道。流动性上，随着全球 降息周期步入下半场，宏观流动性仍维持宽松，社会财富向权益资产配置的趋势方兴未艾。政策上，"十 五五"规划强调科技产业、居民消费与全国统一市场建设，为成长板块提供持续的催化。 指数工具优势：高效透明，聚焦龙头 近年来，指数化投资以其规则清晰、持仓透明、成本较低的特点，日益成为投资者进行资产配置、把握市 场贝塔收益的重要工具。 创业板50指数成分股集中于电力设备、通信、电子、医药生物等符合国家产业升级方向的战略新兴领域， 前三大行业占比约72%。自基日2010年5月31日以来，创业板50指数累计上涨238.58%，长期回报具有优 势，弹性收益明显。（数据来源：Wind，截至2026.2.6） 在日益复杂的宏观环境中，创业板50指数成分股凭借技术壁垒和商业模式创新，展现出较强的盈利韧性与 增长潜力。（数据来源：Wind，截至20 ...

Group 1: Weichuang Electric / Automation Equipment - The company is strengthening collaborations to promote technological innovation and market expansion in the robot-driven component business [4] - Plans to establish a joint venture in Thailand with Zhejiang Rongtai to expand the smart robot electromechanical integration market, with both parties holding 50% shares [4] - The company aims to deepen industry demand and continue global expansion, focusing on regions like Asia, Africa, and Latin America while enhancing product offerings [5] - Revenue projections for 2025-2027 are estimated at 1.977 billion, 2.444 billion, and 3.108 billion yuan, with net profits of 288 million, 346 million, and 419 million yuan respectively [6] Group 2: Lenovo Group / Computer Equipment - Lenovo reported FY2026Q3 revenue of approximately 22.204 billion USD, an 18% year-on-year increase, with a net profit of 546 million USD, down 21% year-on-year [7][8] - The adjusted net profit increased by 36% year-on-year, driven by efficiency optimization and a high-end product mix [8] - The Infrastructure Solutions Group (ISG) is undergoing strategic restructuring, expected to accelerate the return to profitability in FY2027 [9] Group 3: Shipping and Ports Industry - National import and export total reached 45.47 trillion yuan in 2025, with a 3.8% year-on-year growth [13] - Container throughput at major coastal ports reached 31.198 million TEUs, a 7% year-on-year increase [15] - The Baltic Dry Index (BDI) rose by 135.95% year-on-year, indicating a significant increase in dry bulk shipping rates [19] Group 4: Google-A / Overseas - Google reported Q4 2025 revenue of 113.828 billion USD, an 18% year-on-year increase, with a net profit of 33.455 billion USD, up 30% year-on-year [25] - Search advertising revenue grew by 17% year-on-year, driven by AI innovations enhancing user experience and monetization efficiency [26] - Google Cloud revenue surged by 48% year-on-year, reaching 17.7 billion USD, with a significant increase in annual recurring revenue [27] Group 5: Yutong Technology / Packaging Printing - The company plans to acquire 51% of Huayan Technology for 449 million yuan, aiming to enhance its capabilities in precision manufacturing [32][34] - The acquisition is expected to leverage industry synergies and empower the second growth curve, focusing on high-profile clients like Google and Samsung [34] - Revenue projections for 2025-2027 are estimated at 19.069 billion, 21.001 billion, and 23.077 billion yuan, with net profits of 1.608 billion, 1.798 billion, and 1.980 billion yuan respectively [34] Group 6: NetEase-S / Gaming - NetEase reported Q4 2025 revenue of 27.5 billion yuan, a 3% year-on-year increase, with a net profit of 6.2 billion yuan, down 28.8% year-on-year [36][37] - The gaming segment showed resilience with a revenue of 22 billion yuan, driven by strong performance from popular IPs and new game launches [38] - The company is focusing on AI-driven strategies to enhance operational efficiency and optimize its business structure [39] Group 7: Aidi Pharmaceutical / Biopharmaceuticals - The company is advancing its international product launch and received GMP certification from Tanzania, facilitating entry into the African market [43] - Revenue for 2025 is projected at 721 million yuan, a 72.57% year-on-year increase, with a focus on HIV innovative drug sales [43] - Multiple new drug pipelines are actively progressing, with significant clinical trial approvals received [44] Group 8: Meituan-W / Local Life Services - Meituan is projected to achieve total revenue of 916 billion yuan in Q4 2025, with a core local business revenue of 648 billion yuan, reflecting a competitive landscape [45][46] - The company is strategically increasing investments in marketing and rider incentives to enhance operational efficiency amid fierce competition [46] - Long-term growth potential is anticipated through refined operations in instant delivery and overseas expansion [49] Group 9: Huahong Semiconductor / Semiconductors - Huahong Semiconductor reported Q4 2025 revenue of 660 million USD, a 22.4% year-on-year increase, with a wafer shipment of 1.45 million pieces [50]