证券研究报告 2026 年 1 月 7 日 星期三 【A 股市场大势研判】 沪指十三连阳再创十年新高 市场表现： | 指数名称 | 收盘点位 | 涨跌幅 | 涨跌 | 上证指数分时图 | | --- | --- | --- | --- | --- | | 上证指数 | 4083.67 | 1.50% | 60.25 | | | 深证成指 | 14022.55 | 1.40% | 193.92 | | | 沪深 300 | 4790.69 | 1.55% | 72.95 | | | 创业板 | 3319.29 | 0.75% | 24.74 | | | 科创 50 | 1429.30 | 1.84% | 25.89 | | | 北证 50 | 1493.04 | 1.82% | 26.62 | | 资料来源：东莞证券研究所，iFinD 数据 板块排名： | 申万行业表现前五 | | | 申万行业表现后五 | 概 | 念板块表现前五 | 概念板块表现后五 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 有色金属 | 4.26% | 通信 | -0. ...

分享一个近期流传甚广的一个段子： 几年前，我问一个基金经理，你投资框架是什么? 答曰：马斯克搞什么我就搞什么。 我跟人吐槽，说这人咋没有自己的想法。 对不起我错了， 我当时说话太大声了...... 沪指13连阳，再创10年新高。量能持续放大，沪深两市成交额2.81万亿，较上一个交易日放量2602亿，超4100只个股上涨，143只个股涨停，连续两日超 百股涨停。在普涨行情阶段，随便买大概率都是能赚的，这个阶段是最容易赚钱的阶段，本以为这里指数会冲高回落震荡一下，没想到继续放量中大阳拔 高，这种主升行情，比的就是谁的胆子大，敢买就赢。 智能驾驶 AI应用 新能源 从今日板块表现来看，商业航天概念持续爆发，鲁信创投8天6板，北斗星通、中国卫通6天4板。脑机接口概念延续强势，三博脑科、美好医疗、创新医疗 2连板。智能驾驶概念走强，万集科技、路畅科技等多股涨停。 最强的领涨板块方向都是马斯克概念，这个炒作不会是一日游，而是今年会反复多波段炒作，可以重点关注多概念属性叠加的个股，或是这一波明牌的龙 头，等待调整后参与二波的机会。 除了科技方向，在指数主升阶段的大金融也是会有机会的，昨日市场的异动，大金融板块除了保险，证券 ...

目前来看，大盘当前位置有资金持续接力，证券、保险等大金融板块再度接过领涨"接力棒"连续拉高。 机构认为，短期大金融板块仍有冲高动能，真正的周线级别压力在4184点至4200点附近。 三大指数集体收涨，沪指高开高走，再创十年新高。 盘面上，商业航天概念持续爆发，十余只成分股涨停，鲁信创投8天6板，北斗星通、中国卫通6天4板。 脑机接口概念延续强势，三博脑科、美好医疗、创新医疗2连板。大金融板块集体拉升，华林证券、大 智慧涨停。智能驾驶概念走强，化工板块走高，有色金属板块表现活跃。 截至收盘，沪指涨1.5%，深成指涨1.4%，创业板指涨0.75%。市场热点轮番活跃，全市场超4100只个股 上涨，其中有143只个股涨停，连续两日超百股涨停。量能持续放大，沪深两市成交额2.81万亿，较上 一个交易日放量2602亿。 沪指13连阳！大金融板块强力护盘 今日沪指高开高走涨超1%刷新10年新高，盘中最高触及4083.67点。目前，沪指实现13连阳，创出该指 数史上最长连阳纪录。 热点方向看，非银金融全线爆发，保险、证券、金融科技等细分均涨幅居前。 信达证券表示，从2024—2025年上半年银行股上涨的经验看，非银板块的PB ...

智驾概念股多数走高，截至发稿，黑芝麻（000716）智能(02533)涨7.32%，报20.96港元；浙江世宝 （002703）(01057)涨6.26%，报5.26港元；小马智行-W(02026)涨6.29%，报123.4港元；文远知行- W(00800)涨4.54%，报24.42港元。 消息面上，据报道，最近，一辆搭载FSD v14的Model3，从美国西海岸洛杉矶出发，横穿整个大陆，在 2天20小时内抵达东海岸南卡罗来纳州。全程2732英里，100%依赖FSD，覆盖高速公路、城市道路、夜 间驾驶及多次进出超级充电站等复杂场景，整个行程未出现任何人工接管。东吴证券指，继续坚定看好 2026年L4RoboX主线。东方证券认为，在法规政策支持、市场需求提升的驱动下，预计2026年L3级自 动驾驶产业化进展有望持续加速，相关智驾硬件及软件供应商有望受益。 ...

（文章来源：每日经济新闻） 每经AI快讯，12月29日，市场焦点股胜通能源（11板）高开3.04%，商业航天概念股再升科技（15天9 板）低开9.67%、神剑股份（7板）高开9.87%，实控人变更的嘉美包装（8板）竞价涨停，智能驾驶概 念股浙江世宝（9天6板）低开1.46%，海南板块安通控股（5板）低开0.76%、海南发展（6天5板）平 开，锂电池板块华联控股（6天4板）低开0.90%、天际股份（8天4板）高开1.07%，机器人概念股锋龙 股份（3板）竞价涨停、大业股份（3板）高开6.02%。 ...

Group 1 - The core focus of the market on December 25 includes significant stock movements, with Shengtong Energy hitting the upper limit of its price increase for the ninth consecutive trading day [1] - Local stock Anji Food opened high at 8.04% after achieving ten consecutive days of price increases [1] - Dongbai Group opened flat, while commercial aerospace concept stock Zhenxing Technology reached the upper limit for the seventh consecutive day [1] Group 2 - The stock of Shenkai Co., which has undergone a change in actual control, also reached the upper limit for the sixth consecutive day [1] - Intelligent driving concept stock Zhejiang Shibao opened low at 1.71%, indicating a potential pullback in this sector [1] - Hainan Development and Antong Holdings from the Hainan sector opened high at 4.13% and 9.06% respectively, reflecting positive market sentiment [1] Group 3 - Cleanroom concept stocks such as Shenghui Integration and Chuangyuan Technology opened high at 2.41% and 0.13% respectively, showing resilience in this niche market [1]

Group 1: Lithium Battery Sector - The lithium battery concept continues to be strong, with Tianji Co. achieving three consecutive trading limits in six days [10] - On December 23, lithium carbonate futures surged by 5.67%, marking a three-day increase and surpassing 120,000 yuan, reaching a new annual high [11] Group 2: Stock Market Overview - On December 24, A-shares opened slightly higher, with the Shanghai Composite Index at 3920.19, up 0.01% [2] - The market saw strength in sectors such as non-ferrous metals, storage chips, and rare earth permanent magnets, while sectors like 6G concepts and commercial aerospace faced declines [2] Group 3: Individual Stocks - Yibang Diao Ding (002718) announced a temporary suspension of trading due to a planned change in control, following a strong limit-up on December 23, closing at 32.67 yuan per share with a total market value of 4.229 billion yuan [3] - Zhongji Xuchuang saw its stock price rise over 2%, reaching a market value of nearly 700 billion yuan [3] Group 4: Emerging Technologies - The liquid cooling server concept gained traction, with Jitai Co. achieving two consecutive trading limits, and several other companies showing significant gains [6] - The AI industry is accelerating the application of liquid cooling technology, with Google raising its TPU chip shipment target by 50% to 6 million units by 2026 [7] Group 5: Autonomous Driving - The smart driving concept is gaining momentum, with Zhejiang Shibao achieving five trading limits in seven days, focusing on advanced steering technologies for high-level autonomous vehicles [8] Group 6: Data Center Power Supply - The data center power supply concept showed strength, with companies like Xinle Energy and Maigemi Te reaching trading limits [9]

1. Report Industry Investment Rating There is no information about the industry investment rating in the provided content. 2. Core View of the Report The report comprehensively presents the overnight performance of global financial and commodity markets, along with significant macro - economic, industrial, and policy news, offering a multi - faceted view of market trends and potential investment opportunities [3][7][35] 3. Summary by Relevant Catalogs Overnight Night - market Market Trends - International precious metal futures generally rose, with COMEX gold futures up 2.13% at $4480.60 per ounce and COMEX silver futures up 2.37% at $69.09 per ounce [4] - US oil and Brent crude oil futures both increased, with US oil up 2.53% at $57.95 per barrel and Brent crude up 2.45% at $61.52 per barrel [5] - London base metals showed mixed results, with some rising and some falling [5] - Most domestic futures contracts closed higher, with PVC, fuel oil, etc. rising, while ethylene glycol (EG) fell nearly 1% [5] Important News Macro News - Li Qiang emphasized planning major projects in the '15th Five - Year Plan' to boost future development and current economic stability [8] - The PBOC kept the one - year and five - year LPR unchanged for seven consecutive months [9] - Multiple futures exchanges will adjust fee policies from January 1, 2026 [9] - Fed Governor Milan said the need for a 50 - basis - point rate cut has weakened [10] - Trump will meet with national security officials, and Russia is evacuating diplomats' families from Venezuela [11] - The Shanghai Export Container Settlement Freight Index (European route) rose 5.2% [13] - LME plans to introduce option auto - expiration and e - option trading in 2026 [13] Energy and Chemical Futures - Domestic gasoline and diesel prices were cut on December 22 [15] - Jiangsu's styrene port inventory increased [15] - Domestic soda ash manufacturers' total inventory rose slightly [15] - Qingdao's natural rubber inventory increased [16] Metal Futures - The SHFE adjusted trading rules for silver futures [18] - The first - quarter long - term price of a large Guinean mine decreased [18] - Global and Chinese primary aluminum production data were released [20] - The non - ferrous metal industry maintained growth [20] - Australian lithium concentrate shipments to China decreased [20] - The GZEX adjusted the delivery rules for lithium carbonate and polysilicon futures [21] - The holdings of major gold and silver ETFs increased [21] Black - series Futures - Multiple departments launched inspections on illegal mining [23] - Global and Australian - Brazilian iron ore shipments decreased [25] - China's port arrival volume of iron ore decreased [25] - Coke purchase prices in Shandong and Hebei markets were cut [25] - A silicon - manganese alloy plant in Inner Mongolia plans to expand production [26] Agricultural Product Futures - US soybean export data showed growth [28] - Malaysia's palm oil market is expected to stabilize in 2026 [30] - Domestic soybean crushing volume increased [30] - Malaysian palm oil export and production data for December showed changes [31] - Sugar production data in Guangxi and India were reported [31] - Brazil's soybean production forecast was raised [33] - Brazil's soybean sowing rate and shipping data were updated [34] Financial Market Finance - A - shares rose with increased trading volume, and the HSI also increased [36] - The exchanges announced holidays for 2026 [37] - Shenzhen's M&A market and Shanghai's refinancing market showed good performance [38] - Goldman Sachs analysts expect Chinese stocks to continue rising [38] - But Bin is optimistic about the A - share AI industry [39] Industry - China and relevant parties negotiated on the semiconductor supply chain [40] - China imposed anti - subsidy measures on EU dairy products [40] - Guangzhou proposed plans for horse - racing and e - sports industries [42] - Many Sino - Japanese flights were cancelled [42] - Shenzhen expanded the housing voucher resettlement pilot [42] - Some land auctions in Guangzhou failed [42] - Domestic refined oil prices dropped for the third consecutive time [43] - A 70 - billion financial product of Jinyafu defaulted [43] - The market regulator reformed the CCC certification [43] Overseas - Ukraine and the US completed the initial draft of a 'peace plan' [45] - Trump will appoint a new Fed chair [45] - Fed Governor Milan warned of recession risks without rate cuts [45] - The Trump administration increased cash subsidies for illegal immigrants' voluntary departure [45] - The EU extended sanctions against Russia and introduced anti - circumvention measures [45] - India and New Zealand reached a free trade agreement [46] Commodity - The SHFE adjusted trading fees for silver futures to cool the market [50] - International precious metal futures rose due to policy expectations and geopolitical risks [50] - Crude oil futures prices rose due to supply concerns in Venezuela [51] - London base metals showed mixed trends [52] Bond - China's bond market weakened, and institutions adjusted their bond allocations [53] - Insurance companies accelerated bond issuance [53] - US bond yields rose [54] Foreign Exchange - The on - shore RMB rose against the US dollar, and the US dollar index fell [56] - Japan and South Korea warned against currency speculation [56] Upcoming Events - The RBA will release its December monetary policy meeting minutes [58] - The PBOC will have 1353 billion yuan of reverse repurchases due [58] - The State Council Information Office will hold a press conference [58] - Multiple conferences and events will take place [58] - New stocks will be listed and申购 [58] - The Bank of Canada will release its monetary policy meeting minutes [58]

其他蓝筹股方面，紫金矿业（601899）(02899)涨5.3%，报35.38港元，贡献恒指17.01点；泡泡玛特 (09992)涨4.61%，报201.8港元，贡献恒指10.55点；药明康德（603259）(02359)跌2.6%，报101.1港元， 拖累恒指2点；恒隆地产(00101)跌2.23%，报8.78港元，拖累恒指0.57点。 港股今早冲高回落，恒指及国指午后一度翻绿，恒科指数则表现最佳，盘中最高涨超1%。截止收盘， 恒生指数涨0.43%或111.24点，报25801.77点，全日成交额为1697.77亿港元；恒生国企指数涨0.43%，报 8939.68点；恒生科技指数涨0.87%，报5526.83点。 华泰证券指出，当前市场依然在左侧布局区间，右侧拐点尚未清晰。市场对春季躁动提前的一致预期较 强，但港股年底仍有供需压力，"Santa rally"有不确定性，一季度或是胜率更高的阶段。行业上，锂 矿、铜、航空及酒店盈利预期上修，或进入配置窗口；科技中AI龙头、困境反转的本地生活龙头和L3 落地后新品进展提供左侧布局机会。 蓝筹股表现 中芯国际(00981)领涨蓝筹。截至收盘，涨5.92%，报68. ...

盘面上，海南自贸概念全线爆发，海汽集团、海南海药等近20股涨停；免税概念走强，中国中免等多股 涨停；国际金银价格齐创历史新高，贵金属板块走高，晓程科技涨超7%；算力硬件概念表现活跃，新 易盛再创历史新高，长飞光纤4天3板；机器人概念股午后拉升，首开股份、卧龙电驱等多股涨停；商业 航天概念反复走强，神剑股份回封涨停。下跌方面，影视院线概念下挫，博纳影业跌停；SPD概念走 低，华人健康跌逾9%；教育板块下挫，中国高科跌停；盲盒、谷子经济及银行等板块跌幅居前。 热点板块 海南延续强势 海南板块短线拉升，海汽集团、海南发展涨停，凯撒旅业、海南高速等纷纷走高 消息面上，12月18日，海南自由贸易港全岛封关运作正式启动。据三亚市商务局统计，封关首日，三亚 全市免税销售额达1.18亿元。其中，三亚国际免税城进店客流超3.6万人次，同比增长逾60%。 智能驾驶概念反复活跃 智能驾驶概念反复活跃，浙江世宝5连板，万集科技涨超10%。 12月22日，A股三大股指高开高走，全天高位震荡，截止收盘，沪指涨0.69%报3917.36点，深成指涨 1.47%报13332.73点，创业板指涨2.23%报3191.98点，科创50指数涨2. ...