私募春节长假后的进攻方向，可从节前的调研路径窥得端倪。私募排排网最新统计数据显示，截至2026年2月14日，今年以来共有超800家私募参与到A股 调研活动中，合计调研次数超过2800次。从行业分布来看，机械设备、计算机、电子等板块是私募调研的"心头好"。与此同时，淡水泉、景林资产、高毅 资产、复胜资产等知名百亿级私募也密集调研机械设备、电子、计算机等板块个股。 在业内人士看来，中国经济周期见底叠加流动性充裕是资本市场的有力支撑，结构性行情在节后有望进一步延续，在场远比择时重要。从投资机会来看， 成长空间广阔的AI相关标的以及全球市占率提升的中国制造企业，均值得关注。 私募调研青睐三大板块 私募排排网最新数据显示，截至2026年2月14日，今年以来共有874家私募参与到A股调研活动中，覆盖到28个申万一级行业中的501只个股，合计调研次 数达2845次。 从行业分布来看，机械设备行业最受私募青睐，被调研频次高达452次，被调研个股数量达67只。紧随其后的是计算机行业，今年以来该行业被私募调研 个股数量达40只，合计调研次数达432次。电子行业以374次的私募调研频次排名第三，但该行业被调研个股数量达78只之多， ...

如果说显示技术保障了赛事的"好看"，那么中国运动装备的科技进化则在保障赛事的"好用"。除了 TCL，在米兰的冰雪赛场上，中国品牌正通过硬核科技，在全球范围内提供竞技保障。 在2026年米兰冬奥会即将启幕之际，当地时间2月5日，南都湾财社记者从TCL获悉，来自湾区智造的人 文地标"雪绒奇境"米兰冬奥主题馆在意大利米兰中央火车站开馆。 这座位于欧洲腹地的科技人文地标，是粤港澳大湾区乃至中国科技企业全球化布局的一个缩影。据悉， 从显示终端到竞速装备，中国制造已全面渗透进此次冬奥会运行的"毛细血管"。 在"雪绒奇境"馆内，TCL展示了印刷OLED与Micro LED等前沿技术成果。其中包括全球首款印刷OLED 折叠便携显示屏及4K 120Hz印刷OLED显示器。作为下一代显示产业的竞争焦点，印刷OLED技术被视 为中国厂商实现弯道超车的关键。 TCL科技CEO王成表示，这些技术成果将在米兰冬奥会中发挥关键作用，为本届赛事增加活力和激情。 记者注意到，本届冬奥会上，中国品牌为多国运动员冲击金牌提供了"技术靠山"。安踏集团除助力中国 队外，还为希腊、意大利、荷兰等多个国家代表团提供专业装备；李宁品牌则将航天技术引入领奖装 ...

前言 当前，中国企业全球化的画卷正以前所未有的广度与深度展开。站在这一时代背景下，渣打银行与第一 财经携手，共同发起《征程》栏目，旨在深入记录并解读中国中小企业出海的结构性变革。这一联合行 动，本身即是对新时代协作方式的一种回应一一在复杂而多变的全球环境中，唯有跨界协同，方能形成 更具穿透力的洞察。 渣打银行在今年1月对其相关业务进行了系统升级，正式确立为"国际及创新企业银行业务"。这一调 整，并非简单的名称更新，而是基于对中国企业发展阶段与全球经济格局的长期判断。"国际"，源于渣 打覆盖全球54个市场、深度融入东盟及"一带一路"区域的网络优势;"创新"，则指向其对中国经济新旧 动能转换的持续关注，以及对创新型企业全球化进程的长期陪伴。 从助力科技企业搭建海外创新与运营枢纽，到支持实体企业完善跨区域供应链与全球运营网络，渣打在 不同市场的实践不断印证其角色定位:不仅参与企业的当下发展，更关注商业成就如何跨越时间与空 间，沉淀为可持续、可延展的长期基业。 与此同时，任何一家企业的成功出海，都是一个融入更广泛生态系统的过程。金融机构、财经媒体、智 库、法律与专业服务机构、当地合作伙伴等，共同构成支持企业远征的"生 ...

（文章来源：证券日报） 展望后市，淡水泉投资相关人士表示，市场驱动逻辑有望从估值修复转向盈利支撑，从全年时间节点来 看，上半年尤其是四月底前，是一个值得重点把握的布局窗口。此外，资金对核心资产的青睐将主要围 绕科技创新、中国企业全球化等主题展开，以AI为例，今年AI投资逻辑有望从总量向结构转变。未 来，本公司将重点关注供给紧张、约束明显且市场认知尚未充分挖掘的板块或资产，尤其是国内算力基 建在先进制程突破与供应链自主可控进程中所带来的机会。 当前市场流动性保持宽松，投资者风险偏好处于高位，资金集中流向具备成长逻辑的方向。近日，淡水 泉（北京）投资管理有限公司（以下简称"淡水泉投资"）相关人士向记者表示，开年以来，资金从商业 航天、AI应用产业链，到电网设备、金属、油气、化工等板块快速轮动，市场交易情绪活跃，更多体 现出投资者对中国资产的信心稳步回升。伴随着风险偏好进一步回暖，市场开始期待更具持续性的走强 格局。 ...

最近看了新华社对泡泡玛特王宁的采访，很有感触，想写点什么，但又不知道从哪个角度来讲，毕竟盲 盒对我来说，从来都不是一个感兴趣的话题。 直到无意去翻看中国企业出海的榜单时，才发现一个挺有意思的重合。 在消费品和年轻人社交圈，大家谈论的王宁，是泡泡玛特创始人，那个把一个小公仔卖到卢浮宫旁边的 年轻人。在能源和重工业圈子，大家提起宁王，指的是宁德时代，那个在福建宁德起家，现在统治着全 球电动车电池供应链的曾毓群。 这两家公司，一个做的是几十克重的塑料玩具，一个做的是重量级的电池包，生意模式相差了十万八千 里。 但我观察了很久，发现一件值得讨论的事情。本质上，他们都在为这个时代提供一种动力，只不过曾毓 群提供的是让车跑起来的物理动力，王宁提供的是让年轻人觉得生活还没那么枯燥的情感动力。 两股力量，一个掌控着电动汽车的心脏，一个攥紧了年轻人的心跳，在这个时代巧妙地撞在了一起。 1、起点，往往没有人看好 先说曾毓群。在宁德时代的办公室里，曾经挂着一幅字，叫赌性坚强。这四个字后来被传得很广。曾毓 群这辈子做的最大的决定，就是认定动力电池这个赛道一定能跑出巨头。那时候大家还在怀疑电动车是 不是骗局，他已经带着团队死磕锂电池的 ...

Group 1 - The phenomenon of cultural resonance is crucial for global communication, as no country has a uniform cultural experience [2][3] - The 1995 English exam essay featuring the fictional character "Li Hua" has gained significant attention on platforms like Xiaohongshu and TikTok, leading to emotional responses from many foreign users who expressed regret for not replying to such sincere communication [3] - This case illustrates that transcending cultural barriers requires genuine interaction and human connection rather than one-way communication [3] Group 2 - Chinese enterprises are transitioning from a "going out" strategy to a "going in" approach, seeking symbiotic relationships within different cultural and institutional contexts, reflecting a new phase of globalization [4] - High-level openness for Chinese companies should focus on five key capabilities: institutional openness, supply chain governance, technological innovation, digital trade development, and participation in global governance [4] - The importance of management in driving technological innovation is emphasized, suggesting that without effective management, technological advancements may struggle to succeed [5]

Group 1 - The annual meeting of Fudan University EMBA Alumni Association highlighted the theme "Economic Stability and Reform Breakthroughs" presented by Zhou Hanmin, emphasizing the development path for macroeconomics and technological innovation during the 14th Five-Year Plan [1] - Zhou pointed out that high-level openness should focus on five capabilities: institutional openness, supply chain governance, technological innovation openness, digital trade development, and participation in global governance [1] - Chinese enterprises are transitioning from "going out" to "going in," seeking symbiotic relationships in different civilizational and institutional contexts, reflecting China's institutional openness [1] Group 2 - Fudan University and the University of Washington's Foster School of Business EMBA program ranked first globally in the Financial Times 2025 EMBA rankings, while Fudan University's EMBA program ranked in the top eight globally and has maintained the top position among Chinese programs for four consecutive years [2]

Group 1: Market Outlook for 2026 - The market logic for 2026 is expected to shift from valuation recovery to profit-driven strategies, with capturing the "expectation gap" being the core opportunity for the year [1][5][20] - Investor sentiment is generally more optimistic, with three anticipated characteristics: increased preference for Chinese assets, a new narrative forming around "Chinese assets," and a focus on profit-driven logic rather than valuation recovery [5][21][22] Group 2: Liquidity and Policy Environment - Liquidity is identified as the most certain favorable factor for the stock market in 2026, with potential for increased stock allocation from both domestic and foreign investors [7][24] - The "anti-involution" policy is showing initial positive effects, with companies exhibiting a mindset change towards reduced competition, which could lead to operational improvements for leading firms [7][24] Group 3: Investment Opportunities - In the short to medium term (6-12 months), the focus should be on identifying "expectation gaps" in low-attention assets across various industries [8][25] - Over a longer horizon (three to five years), key opportunities are expected to arise from technological innovation empowering various sectors and the globalization of Chinese enterprises [8][25] Group 4: Technology Sector Insights - AI is viewed as a long-term positive technology rather than a bubble, with a focus on tracking capital expenditure from leading cloud vendors as a key variable [10][27] - China has advantages in the AI supply chain, particularly in power, manufacturing, and human resources, with significant opportunities in AI applications and integration across industries [10][27][28] Group 5: Consumer and Commodity Strategies - The approach to the "commodity bull market" is to focus on material substitution opportunities and post-cycle investments in mining and exploration, highlighting the competitiveness of Chinese firms [12][29] - In the consumer sector, "new consumption" represents structural opportunities, with a focus on demographic changes and the evolution of channels, emphasizing the need to identify sustainable structural opportunities [12][29] Group 6: Risk Management and Investment Evolution - Key risk management strategies include being cautious of crowded trades and adapting to new market pricing dynamics [15][31] - The company emphasizes the importance of proactive scenario planning to manage uncertainties and improve investment success rates through strategic timing and collaboration among teams [15][33]

Core Viewpoint - The globalization process of Chinese enterprises is entering a new stage, characterized by increased resilience and global competitiveness, as highlighted by the launch of the "Wenhai: New Observations on Chinese Enterprises Going Global" column by Yicai [2] Group 1: Globalization Trends - Chinese enterprises are showing high activity in overseas markets, with exports increasing by 6.2% to 24.46 trillion RMB and foreign direct investment rising by 7.5% to 1.13145 trillion RMB in the first 11 months of 2025 [2] - Direct investment in countries along the Belt and Road Initiative saw a significant increase of 19% to 255.53 billion RMB, while new contracts for overseas engineering projects grew by 20.4% to 1.44269 trillion RMB [3] - The current wave of globalization for Chinese enterprises began in 2023, transitioning from individual efforts to a more collaborative approach supported by government initiatives [3] Group 2: Challenges and Adaptations - The globalization landscape is facing new challenges due to rising trade protectionism and geopolitical tensions, leading to a more complex and uncertain environment for global operations [4] - The UNCTAD reports that by the end of 2024, 46 countries will have established foreign direct investment review mechanisms, more than double the number from a decade ago, indicating a tightening of investment scrutiny [4] - The Chinese enterprise globalization index is projected to grow by 6.1% in 2025, reaching 604.8, reflecting the continued expansion of Chinese enterprises in global markets [5] Group 3: Sectoral Insights - Emerging industries such as renewable energy and industrial robotics are experiencing sustained export growth, while digital technology is accelerating its integration with local services [8] - The report identifies 50 leading Chinese enterprises in globalization based on their overseas impact, global layout, and social responsibility, highlighting the diverse nature of current Chinese global enterprises [8] Group 4: State-Owned Enterprises (SOEs) - SOEs play a unique and critical role in globalization, characterized by a focus on cooperation and responsibility, with significant overseas investments since 2001 [11] - Compared to private enterprises, listed SOEs show higher levels of overseas revenue, particularly in heavy asset industries like construction and oil [12] - SOEs face dual challenges in globalization, including regulatory scrutiny and the need for effective cross-cultural management [16] Group 5: Service Trade Opportunities - The global service trade is projected to reach 8.69 trillion USD by 2024, with China’s service trade expanding and optimizing its structure, although it still faces a trade deficit in high-value services [19][22] - The overseas revenue of listed service enterprises in China is expected to grow from 1.4 trillion RMB in 2020 to 1.7 trillion RMB in 2024, marking a 21.4% increase [22] - Recommendations for enhancing the quality of China's service trade include optimizing service structures, promoting digital transformation, and supporting the development of emerging service sectors [22]

Core Insights - The article highlights the transformation of Chinese companies' international expansion strategies during the "15th Five-Year Plan" period, moving from simple product exports to a more integrated approach involving technology, brand, and ecosystem development [2][8]. Group 1: Project Developments - A 2600 MW solar power plant in Saudi Arabia, the largest in the Middle East, showcases the EPC capabilities of China Energy Engineering Group, integrating China's strong manufacturing with Schneider Electric's advanced technology [1]. - Schneider Electric collaborates with China Energy Engineering Group to provide electrical solutions for the solar project, demonstrating effective risk management in complex overseas environments [3]. Group 2: Globalization and Localization - The article emphasizes the need for Chinese companies to adopt a validated globalization methodology and seek reliable partners, particularly multinational corporations that understand both Chinese and global markets [3][6]. - Schneider Electric's extensive global network and deep understanding of the Chinese market position it as a key partner for Chinese companies looking to expand internationally [6][7]. Group 3: Collaborative Opportunities - Schneider Electric is actively partnering with various Chinese firms, such as China Power Construction and CATL, to explore third-party markets in the Middle East and Southeast Asia, contributing to local energy infrastructure [4]. - The collaboration with core suppliers like Jinrong Tianyu has led to significant upgrades in digitalization and internationalization, enhancing their global supply chain presence [4]. Group 4: Innovation and Technology Transfer - Schneider Electric's localized operations have resulted in a strong innovation network in China, producing advanced technologies like environmentally friendly switchgear and new generation circuit breakers that are now entering global markets [7][8]. - The partnership between Schneider Electric and Chinese companies facilitates the transfer of China's innovations in new energy and digitalization to broader markets, aligning with the global expansion of Chinese enterprises [8][9].