远达工程公司已同意作为总承包商，为达州项目的脱硫系统提供一系列服务，包括系统设计、设备采 购、运输和储存、建筑安装、调试、完工认证(进行试运行、消缺、性能保证考核验收等)、培训、性能 质量保证、最终交付以及涵盖整个缺陷责任期(即最后一台系统机组完成其168小时满负荷试运后满一 年)的跟进服务。在缺陷责任期内，远达工程公司有义务修正可能出现的任何缺陷和损坏。 随着中国燃煤发电厂烟气排放标准日益严格，远达工程公司凭借其专业技术提供脱硫工程承包服务，以 协助客户达到烟气排放法规要求。透过获得达州项目的脱硫系统总承包合同，远达工程公司得以扩大其 在烟气处理领域的市场份额，并巩固其在环保领域的地位，从而推进本集团向绿色低碳能源供应商转型 的战略目标。 中国电力(02380)发布公告，2026年1月29日，远达工程公司(本公司一家非全资拥有的间接附属公司)与 达州能源订立了一份总承包合同。据此，远达工程公司将为达州项目的脱硫系统提供系统设计、设备采 购、建筑安装，以及其他技术支援服务，代价人民币1.99亿元。 总承包合同的代价符合市场上其他公司为同类脱硫系统提供相同服务所收取的现行市场价格。董事认 为，总承包合同的代价及 ...

数据显示，有色ETF汇添富（159652）备受资金青睐，近5日"吸金"超4.8亿，近20日"吸金"超15亿；最 新规模达73.48亿元！ 指数成份股掀起涨停潮，铜陵有色、北方铜业、盛和资源、湖南黄金、白银有色、西部黄金等涨停，紫 金矿业、山东黄金涨超2%，洛阳钼业、中国铝业涨超3%，江西铜业涨超7%，云南铜业涨超9%。 1月29日，A股有色板块走出深蹲反弹形态，早盘一度跌超3%，随后展开凌厉反弹！有色ETF汇添富 （159652）午后再度涨超3%，日内完成调整，盘中获净申购达1亿份，按盘中成交均价计算，净申购金 额已超2亿元！盘中成交额超8亿，换手率超10%，市场交投活跃！ 消息面上，美联储暂缓降息，但市场普遍押注美联储新任货币政策掌舵人或将在今年晚些时候更倾向于 采取更多宽松政策。贵金属市场延续强势，COMEX黄金价格一度突破5600美元关口，创纪录新高！沪 金主力合约强势突破1200元/克整数关口，现报1244.8元/克，续创历史新高，本月累涨超25%。 | 2.260 +0.044 +1.99% | | | | 有色ETF汇添富 | 水 | | --- | --- | --- | --- | --- | ...

东兴证券指出，金属行业供需结构明显优化，行业已处于弱供给周期。在供给端，全球矿业供给在2028 年前或延续强刚性化特征。需求端，绿色低碳能源转型、新质生产力发展及算力资本周期的来临或将提 振多金属品种需求曲线右移。具体来看，稀土行业供需结构持续优化，供给端受行业整合与政策管理而 收缩，需求端受新能源汽车、机器人等推动持续增长，出口管制政策或持续提升中国稀土行业的全球定 价权。锂行业供需关系或持续改善，供应过剩状况预计将持续减缓。锑行业因供需错配或进入强景气周 期，全球锑供需缺口预计将持续放大。钼行业供需延续紧平衡，价格中枢有望上行。镁行业供需或进入 持续性紧平衡状态，"反内卷"政策或有望向该行业扩散。此外，流动性周期的切换有助于金属价格的弹 性释放，全球央行资产负债表的再扩张或推动本就供需紧平衡的小金属品种获得流动性溢价。 1月29日，有色60ETF（159881）涨超3%，连续4日迎资金净流入，金属行业供需结构明显优化。 风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供参 考，不代表其未来表现，亦不构成对基金业绩的承诺或保证。观点可能随市场环境变化而调整，不构成 投资建 ...

1月29日，国内商品期货开盘多数上涨，沪金涨超7%，沪银涨超4%，燃油涨近3%，氧化铝、沪铝涨超 2%。有色金属板块强势拉升，白银有色8连板，中国黄金5连板，铜陵有色逼近涨停，兴业银锡涨超 8%，云南铜业涨超6%。截至9：35，工业有色ETF万家（560860）开盘大涨4.03%，创历史新高！成交 额达2.9亿，交投活跃。 工业有色ETF万家（560860）备受资金青睐，资金连续5日净流入，合计"吸金"超6.9亿元，近10日"吸 金"超11亿，近20日"吸金"超46亿元。截至1月28日，该基金最新规模攀升至164.78亿元，一举突破160 亿大关！ | 近5日净流入 | | | 单位(万元) | | --- | --- | --- | --- | | 22506 | | | 24411 | | | | 15322 | | | | 6011 | | | | | 1391 | | | | 1-22 | 1-23 1-26 | 1-27 | 1-28 | | 天数 | 净流天 | 净流额 | 净流率 | | 5 | 5 | 69642 | 5.04% | | 10 | 0 | 118700 | 9.14% | | ...

1月28日，有色60ETF（159881）收涨超7%，金属价格上行与供需格局变化利好。 每日经济新闻 （责任编辑：刘畅 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 东兴证券指出，金属行业已进入弱供给周期，全球矿业供给在2028年前或延续强刚性化特征。从需 求端观察，绿色低碳能源转型、新质生产力发展及算力资本周期的来临或将提振多金属品种需求曲线右 移。流动性周期的切换有助于金属价格的弹性释放，全球央行资产负债表的再扩张或推动本就供需状态 紧平衡的小金属品种获得流动性溢价。具体来看，稀土行业供需结构持续优化，供给端受政策管控增速 放缓，需求端受新能源汽车、机器人等推动持续增长，行业迎来价值重估。锂行业供需关系或持续改 善，供应过剩状况预计持续减缓。锑行业因供需错配进入强景气周期，全球锑供需缺口或持续放大。 镁、钼等品种的供需亦呈现紧平衡状态，有望推动价格中枢上行及行业盈利修复。 有色60ETF（159 ...

● 相关风险提示：该基金尚需取得中国证券投资基金业协会备案后方可实施。投资过程中可能存在因决 策或行业环境发生重大变化，导致投资项目不能实现预期收益、无法及时有效退出等风险。敬请广大投 资者注意投资风险。 一、投资设立基金概述 为满足公司战略发展需求及产业联动效应，进一步夯实储能领域的定位和布局，持续深化绿色、低碳、 可持续的能源体系转型，公司拟与管理人天津滨海新区新兴产业基金管理有限公司（以下简称"新兴基 管"）及其他合伙人天津滨海新能源投资管理有限公司（以下简称"滨海新能源"）、深圳市元科慧储投 资有限公司（以下简称"元科慧储"）共同投资设立储能基金并签订合伙协议，基金将主要对新型储能场 景及产业链上下游优质项目进行投资。基金目标总规模为人民币20亿元，初始规模5亿元，公司拟作为 有限合伙人认缴出资2.49亿元，持有合伙企业49.80%的份额比例。 天津滨海新区建设投资集团有限公司（以下简称"滨海建投"）系滨海新能源的控股公司，作为天津市国 资委全资企业，滨海建投拥有领先的资产实力，优质的资信水平，也沉淀了丰富的地方资源和产业储 备。公司与滨海建投共同发起设立储能基金，不仅可以助力储能上下游产业投资，打通 ...

Core Insights - The report emphasizes that China's asset value has significant room for revaluation, with the stock market expected to experience a slow bull market in 2025, driven by the transition from old to new economic drivers and the increasing share of the tertiary industry [6] - The report highlights that the liquidity environment is expected to remain supportive for the stock market in 2026, with potential interest rate cuts in China and a narrowing of interest rate differentials between China and the US [7] - The report anticipates a turning point in corporate earnings and valuations in the A-share market, with a projected profit growth rate of around 12% in 2026 [8] Economic News - The report notes that retail sales in various sectors, including home appliances and tourism, have shown significant year-on-year growth, indicating a recovery in consumer spending [2] - The People's Bank of China has announced measures to enhance offshore RMB liquidity, which may positively impact market confidence and investment [2] - The report mentions that foreign direct investment in China has increased, particularly in high-tech industries, reflecting a positive trend in attracting foreign capital [2] Industry Analysis - The report discusses the ongoing transformation of China's manufacturing sector, with a shift towards high-value-added services and technology-driven industries, which is expected to enhance the profitability of Chinese assets [6] - The report highlights the expected growth in the lithium industry, driven by the demand for electric vehicles and energy storage systems, with a projected compound annual growth rate (CAGR) of 21% for lithium demand from 2024 to 2027 [21] - The report indicates that the rare earth industry is undergoing a structural optimization, with supply constraints and increasing demand from sectors like electric vehicles and renewable energy, which may lead to price increases and improved profitability for related companies [17][18] Company Recommendations - The report recommends several stocks for 2026, including Torch Electronics, which is expected to benefit from improving industry conditions, and Guoli Electronics, which has a strong position in the semiconductor and new energy sectors [13] - Other recommended companies include Huace Navigation, which is poised to benefit from the Beidou satellite system, and Kingsoft Office, which is expected to see growth in its software business [13][14] - The report also highlights the potential of companies in the lithium and rare earth sectors, such as Zhongmin Resources and Jinyang Salt, due to the anticipated growth in demand for these materials [20][21]

Core Viewpoint - Beijing Energy International (00686) plans to acquire 70% equity of Yangzhou Tairun New Energy Power Development Co., Ltd. for approximately RMB 371 million (including tax) [1][3] Group 1: Acquisition Details - The acquisition is set to be completed by December 22, 2025 [1][3] - The target project has an installed capacity of approximately 460 megawatts [1][3] Group 2: Strategic Alignment - The board believes the acquisition aligns with the company's development strategy and provides an opportunity to expand its clean energy portfolio [1][3] - The move is consistent with the macro trend towards a green low-carbon energy system and aligns with China's 14th Five-Year Plan goals [1][3] Group 3: Operational and Financial Impact - The acquisition is expected to enhance the company's operational scale and asset base, generating potential operational synergies through effective resource allocation [1][3] - The geographical proximity of the target project to the company's existing photovoltaic project in Gaoyou, Jiangsu Province, is anticipated to improve project management and overall generation capacity, thereby enhancing profitability [1][3]

Core Viewpoint - Beijing Energy International (00686.HK) has announced a conditional agreement to acquire 70% of Yangzhou Tairun New Energy Power Development for approximately RMB 371 million, aligning with the company's strategy to expand its clean energy portfolio and optimize asset structure [1] Group 1: Acquisition Details - The buyer, Jingneng International (Gaoyou) New Energy, is a wholly-owned subsidiary of Beijing Energy International, while the seller is Gaoyou Yongtai Enterprise Operation Management [1] - The acquisition is set to be completed by December 22, 2025, and is expected to enhance the operational scale and asset base of the group [1] Group 2: Strategic Alignment - The board believes the acquisition aligns with the group's long-term focus on clean and renewable energy, supporting the transition to a green low-carbon energy system in line with China's 14th Five-Year Plan [1] - The deal is anticipated to create potential operational synergies through effective resource allocation and management integration, thereby strengthening the group's competitiveness in the clean energy market [1] Group 3: Project Capacity and Benefits - Post-acquisition, the target project's installed capacity will reach approximately 460 megawatts, which is geographically close to the group's existing photovoltaic project in Gaoyou, Jiangsu Province [1] - This proximity is expected to generate operational efficiencies and enhance overall power generation capacity, ultimately improving the group's profitability [1]

Core Viewpoint - Beijing Energy International (00686) plans to acquire a 70% stake in Yangzhou Tairun New Energy Power Development Co., Ltd. for approximately RMB 371 million, aligning with its strategy to expand its clean energy portfolio and optimize asset structure [1] Group 1: Acquisition Details - The acquisition is set to be completed by December 22, 2025, and is expected to enhance the company's operational scale and asset base [1] - The target project has an installed capacity of approximately 460 megawatts, which is geographically close to the company's existing solar power project in Gaoyou, Jiangsu Province [1] Group 2: Strategic Alignment - The board believes the acquisition aligns with the company's long-term focus on clean and renewable energy, supporting the transition to a green low-carbon energy system [1] - The move is in line with China's 14th Five-Year Plan goals, indicating a commitment to sustainable development [1] Group 3: Expected Benefits - The acquisition is anticipated to generate potential operational synergies through effective resource allocation and management integration [1] - It is expected to strengthen the company's overall competitiveness in the clean energy market, thereby enhancing profitability [1]