证券日报网讯 1月26日，中国中免在互动平台回答投资者提问时表示，公司始终秉持"分享购物的快 乐，延伸旅游的享受"的企业使命，服务各行各业群体的消费需求。公司非常重视数字化转型带来的机 遇，目前已经在购物小程序上实现云逛店服务，并通过算法模型应用在商品计划采购以及供应链履约环 节等，提升公司运营管理效率。公司还在持续探索AI在销售及对客服务等过程中的应用。 （文章来源：证券日报） ...

A股复盘 | 来，朝这儿砸 / 2026.01.26 谁这么会总结？建议去 SpaceX上班！ 今天咱妈又教育熊孩子了。早上先是ETF放量，尾盘又来压，紫金矿业卖一超40亿元 。 主要是，黄金白银真的涨疯了！早上还没开盘就直线冲破了5000美元，突破重要关口之后直线加速，午后一度涨超5100美元/盎司，续创历史新高。 受此影响，申万一级有色金属行业今日大涨4.57%，而今年以来有色金属行业大涨24%，其中紫金矿业大涨14.59%。 美银分析师迈克尔·哈特尼特（Michael Hartnett）在一份致客户的报告中写道："历史虽不能完全预示未来，但回顾此前四轮黄金牛市，金价在约43个月内平 均上涨达300%。 这一规律暗示，金价有望在2026年春季升至每盎司6000美元。"若该目标实现，意味着金价将较当前历史高位再上涨逾20%。 再说存储，有个传闻，咱们群友跑得快！ | 立昂微v | | | | | | --- | --- | --- | --- | --- | | 605358 融 沪股通 L1 | | | | | | 42.63 | 高 | 44.20 | 市值 286.21亿 | 量比 1.35 | | ...

证券研究报告 | 浙商早知道 报告日期：2026 年 01 月 27 日 ：wanghe@stocke.com.cn 市场总览 资金：1 月 26 日全 A 总成交额为 32806 亿元，南下资金净流出 8.26 亿港元。 重要观点 【浙商大制造中观策略 邱世梁/王华君/张菁】机械设备 年度行业策略报告：2026 年度策略：油轮散货订单接力， 产业共迎盈利释放——20260126 重要点评 浙商早知道 2026 年 01 月 27 日 ：王禾 执业证书编号：S1230512110001 ：021-80105901 【浙商传媒互联网 冯翠婷】传媒 行业深度：重仓股配置比例下降，前期涨幅高的收益确认，AI 应用标的配置提 升——20260126 http://www.stocke.com.cn 1/4 请务必阅读正文之后的免责条款部分 大势：1 月 26 日上证指数下跌 0.09%，沪深 300 上涨 0.1%，科创 50 下跌 1.35%，中证 1000 下跌 1.24%，创业板 指下跌 0.91%，恒生指数上涨 0.06%。 行业：1 月 26 日表现最好的行业分别是有色金属（+4.57%)、石油石化（+3. ...

Core Insights - The collaboration between Softcom Power and Jinpan Technology has led to the launch of the "Softcom Tianxuan AI Factory Intelligent Manufacturing Solution" aimed at accelerating the deployment of AI platforms and applications in the manufacturing sector [1][2] - The AI Factory solution has already empowered various industries including retail, finance, manufacturing, healthcare, energy, and automotive [1] Group 1 - The Softcom Tianxuan MaaS platform serves as a critical component of the AI Factory solution, functioning as an "AI flywheel engine" that drives intelligent scenarios across vertical industries [1] - The Tianxuan AutoAgent utilizes five core technological innovations to deconstruct complex tasks into executable units, enabling flexible development and deployment of intelligent agents [1] - The Tianxuan Digital WorkMate platform allows enterprises to quickly build a silicon-based workforce platform, encapsulating industry know-how into a standardized, reusable digital employee matrix [1] Group 2 - The AI Factory solution is built on a secure, compliant, and autonomous technical foundation, offering customized product combinations and implementation paths tailored to the transformation needs of different industries and enterprise sizes [2] - The partnership with Jinpan Technology represents a significant practical application of the AI Factory solution, providing a replicable benchmark for intelligent transformation in sectors like new energy and new infrastructure [2] - The company plans to continue enhancing its full-stack AI capabilities and deepen collaborations with industry partners to promote the AI Factory solution in more scenarios [2]

Market Overview - On January 26, the market experienced fluctuations with significant divergence between large and small indices, where the Shenzhen Component and ChiNext indices opened high but closed down over 1% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 3.25 trillion yuan, an increase of 163 billion yuan compared to the previous trading day [1] - The market saw over 3,700 stocks decline, with only 79 stocks hitting the daily limit up [1] Sector Performance - The non-ferrous metals sector led the gains, particularly the precious metals concept, with notable performances from Sichuan Gold, which achieved four limit-ups in eight days, and Zijin Mining reaching a historical high [1] - The oil and gas sector also showed strength, with China National Offshore Oil Corporation hitting a historical high and Intercontinental Oil & Gas achieving three limit-ups in four days [1] - The chemical sector experienced a rebound, with stocks like Hongbaoli and Chengxing Co. hitting the limit up [1] - Conversely, the commercial aerospace and semiconductor equipment sectors faced significant declines, with several commercial aerospace stocks hitting the limit down [1] Limit-Up and Limit-Down Stocks - A total of 70 stocks hit the limit up today (excluding ST and delisted stocks), with 15 stocks on consecutive limit-ups [1] - Key stocks included Baiyin Nonferrous Metals with five consecutive limit-ups and Sichuan Gold with four limit-ups in eight days [1][9] Related Hotspots - The precious metals sector continues to rise, with gold prices in New York surpassing $5,100 and silver prices exceeding $109 [11] - In the AI sector, major companies like Tencent and Baidu have initiated cash red envelope activities for the Spring Festival, indicating a competitive landscape in AI applications [12] - The robotics sector saw a partnership announcement between China Central Television and Magic Atom for the 2026 Spring Festival Gala [12]

Core Viewpoint - The A-share market is experiencing a shift in capital flow, with a notable move from high-valuation speculative stocks to low-valuation defensive sectors, particularly in precious metals and financials [4][9][10]. Market Performance - The Shanghai Composite Index fell by 0.09% to 4132.61 points, the Shenzhen Component dropped by 0.85% to 14316.64 points, and the ChiNext Index decreased by 0.91% to 3319.15 points [3][8]. - The total trading volume in the Shanghai and Shenzhen markets reached 3.52 trillion yuan, an increase of over 500 billion yuan compared to the previous trading day [3][8]. Sector Analysis - The precious metals sector emerged as a key highlight, with significant inflows of over 4.5 billion yuan, driven by the international gold price surpassing 5000 USD per ounce and strong performance from companies like Hunan Gold [3][8]. - Defensive sectors such as banking, insurance, oil and gas, and coal saw gains, attracting both northbound and main capital flows [3][8]. Capital Flow Dynamics - Northbound capital recorded a net inflow of 3.2 billion yuan, focusing on low-valuation stocks while reducing exposure to the semiconductor sector [4][9]. - There was a significant outflow from high-valuation sectors, with 12.4 billion yuan leaving the semiconductor sector, 12 billion yuan from military equipment, and 43.6 billion yuan from robotics [3][8]. Regulatory Environment - The increase in the financing margin ratio from 80% to 100% aims to curb high-leverage speculation, effective from January 19 [4][9]. - Regulatory measures, including scrutiny of stock price anomalies and trading suspensions, are intended to limit speculative trading and promote a more rational market environment [4][9][10]. Market Outlook - The market is expected to maintain a "horizontal consolidation" trend leading up to the Spring Festival, with a focus on low-valuation stocks and core leaders in the precious metals sector [10]. - The current consensus is to avoid high-valuation speculative stocks lacking earnings support, as the market shifts towards more stable investments [10].

Market Analysis - A-share market showed mixed performance with the Shanghai Composite Index closing at 4132.61, down 0.09%, while the Shenzhen Component Index fell 0.85% to 14316.64[2] - Total market turnover increased to 3.28 trillion yuan, up 5.2% from the previous trading day, marking the second consecutive day above 3 trillion yuan[2] Precious Metals Performance - Precious metals led the market with the gold jewelry index rising 7.08%, and international spot gold surpassing 5100 USD/oz, reaching a historical high[5] - Silver futures prices climbed to 100 USD/oz, contributing to rapid valuation recovery in the industry chain[5] Commodity Market Trends - The Nanhua Commodity Index closed at 2829.85, up 1.59%, with silver leading gains at 12.78%, platinum up 9.68%, and gold rising 3.67%[7] - Energy and shipping sectors also saw gains, with fuel prices increasing by 6.81%[7] Bond Market Insights - The bond futures market showed mixed results, with the 30-year contract (TL2603) rising 0.20% to 112.51 yuan, while the 10-year contract (T2603) fell 0.02% to 108.18 yuan[7] - The central bank conducted a net withdrawal of 207.8 billion yuan, indicating a tightening liquidity environment[7] Investment Recommendations - Focus on sectors such as photovoltaic, commercial aerospace, and precious metals, while being cautious of speculative risks in concept stocks[7] - Monitor upcoming performance forecasts and the impact of the Federal Reserve's meeting on January 28[13]

Group 1 - Tencent's chairman Ma Huateng announced a cash giveaway of 1 billion yuan for the Spring Festival, aiming to replicate the success of WeChat red envelopes [1] - The cash distribution will start on February 1, with individual red envelopes reaching up to 10,000 yuan [1] - The event is designed to maximize user participation and social sharing through features like "share red envelope," allowing users to forward red envelopes to friends on WeChat or QQ [4] Group 2 - Baidu has also entered the Spring Festival cash red envelope competition, offering a total of 500 million yuan from January 26 to March 12, with individual rewards up to 10,000 yuan [5] - Baidu's AI assistant will be featured as the chief AI partner in the 2026 Beijing Broadcasting Television Spring Festival Gala [5]

新闻荐读 板块方面，贵金属再度爆发，带动有色金属概念股集体走强，化工等方向同样涨幅居前；AI应用概念股局部发力，浙文互联盘中涨停，浙数文化、盛天 网络、天舟文化等直线拉升；午后油气股持续走高，中曼石油盘中涨停，通源石油、中国海油、中国石油、中国石化、潜能恒信跟涨；生物医药概念午后 快速拉升。商业航天概念持续走弱，中国卫通、中国卫星等多股跌停；半导体设备概念震荡走弱，白酒板块震荡下挫，军工、卫星等方向跌幅居前。 26日，A股三大指数集体高开，随后震荡下行，集体收跌。截至收盘，沪指跌0.09%，深证成指跌0.85%，创业板指跌0.91%。全市成交额3.28万亿，超 3700只个股下跌。 | L | w A股 | | | Q | | --- | --- | --- | --- | --- | | A股 港股 美股 | 全球 | 商品 | 汁 三 外汇 | | | 已为您生成昨日市场智评 | | | 查看 | | | 内地股票 它 ○ | | | | | | 行情 | 资金净流入 | | 涨跌分布 | | | 上证指数 | 深证成指 | | 科创综指 | | | 4132.61 | 14316.64 | | 1857 ...

Market Overview - The market experienced fluctuations with 70 stocks hitting the daily limit up and 40 stocks facing limit down, resulting in a sealing rate of 64% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 3.25 trillion yuan, an increase of 163 billion yuan compared to the previous trading day [1] - The Shanghai Composite Index fell by 0.09%, the Shenzhen Component Index dropped by 0.85%, and the ChiNext Index decreased by 0.91% [1] Stock Performance - Silver and non-ferrous metals stocks showed strong performance, with Silver Nonferrous achieving a five-day limit up and Mingyang Smart Energy achieving a three-day limit up [1][3] - The number of stocks with three or more consecutive limit ups decreased to only two, indicating a decline in market enthusiasm [3] - The commercial aerospace sector faced significant corrections, with major stocks like China Satellite and China Satcom hitting the limit down [3] Sector Analysis - Precious metals prices have surged, with spot gold and silver prices breaking through $5,100 and $110 per ounce, respectively, leading to a strong performance in the non-ferrous sector [7] - The oil and gas sector also saw a rebound due to rising natural gas prices in the U.S., with China National Offshore Oil Corporation's stock rising over 6% to reach a historical high [7] - The "space photovoltaic" concept gained traction following support from Tesla's CEO Elon Musk, with several companies in this sector achieving consecutive limit ups [6] Emerging Trends - The recent outbreak of the Nipah virus in West Bengal, India, has led to a surge in stocks related to virus testing and biological vaccines, with multiple stocks hitting the limit up [9][17] - The AI computing power rental concept has strengthened, driven by AWS's price increase for machine learning capacity, indicating a shift in cloud computing pricing logic [8][24] - The healthcare sector is experiencing heightened interest due to the Nipah virus outbreak, with several medical diagnostic companies seeing significant stock price increases [27] Future Outlook - The market is showing signs of volatility, with the small-cap index experiencing a significant pullback after reaching new highs [10] - Investors are advised to remain cautious as the peak period for earnings forecasts approaches, with potential risks for underperforming stocks [10] - The commercial aerospace sector's ability to recover from recent declines will be crucial for its future performance [6]