来源：上海证券报·中国证券网 来源：上海证券报·中国证券网 上证报中国证券网讯 1月5日，创业板指盘中涨超2%，沪指重返4000点。截至10时33分，沪指涨 0.84%，深证成指涨1.66%，创业板指涨2.14%。全市场近4000只个股飘红。 盘面上看，脑机接口概念早盘大幅拉升，倍益康30CM涨停，三博脑科、翔宇医疗、伟思医疗、熵基科 技、爱朋医疗、诚益通20CM涨停。保险、游戏、半导体、风电设备等板块涨幅居前。 上证报中国证券网讯 1月5日，创业板指盘中涨超2%，沪指重返4000点。截至10时33分，沪指涨 0.84%，深证成指涨1.66%，创业板指涨2.14%。全市场近4000只个股飘红。 盘面上看，脑机接口概念早盘大幅拉升，倍益康30CM涨停，三博脑科、翔宇医疗、伟思医疗、熵基科 技、爱朋医疗、诚益通20CM涨停。保险、游戏、半导体、风电设备等板块涨幅居前。 ...

来源：上海证券报·中国证券网 上证报中国证券网讯 1月5日，沪指涨幅扩大至1%，重回4000点上方。截至11时05分，沪指涨1.00%， 深证成指涨1.79%，创业板指涨2.13%。全市场超4000只个股飘红。 盘面上看，脑机接口概念早盘表现抢眼，倍益康30CM涨停，三博脑科、翔宇医疗、伟思医疗等多股 20CM涨停。保险、游戏、半导体、风电设备等板块涨幅居前。 来源：上海证券报·中国证券网 上证报中国证券网讯 1月5日，沪指涨幅扩大至1%，重回4000点上方。截至11时05分，沪指涨1.00%， 深证成指涨1.79%，创业板指涨2.13%。全市场超4000只个股飘红。 盘面上看，脑机接口概念早盘表现抢眼，倍益康30CM涨停，三博脑科、翔宇医疗、伟思医疗等多股 20CM涨停。保险、游戏、半导体、风电设备等板块涨幅居前。 ...

Core Viewpoint - The article highlights the significant growth and transformation of Nantong's economy, driven by strategic partnerships, industrial upgrades, and a focus on international trade, particularly in the context of the "Belt and Road" initiative and high-level openness in the Yangtze River Delta region [5][10][36]. Group 1: Economic Growth and Trade - Nantong's foreign trade import and export scale has increased significantly, surpassing 400 billion yuan for the first time, with a year-on-year growth of 15.9% in the first eleven months of 2025 [10][11]. - The city's export of shipbuilding and marine engineering equipment accounts for one-tenth and one-fourth of the national total, respectively, with a 104% year-on-year increase in marine engineering exports [10][11]. - The proportion of high-tech product exports has risen from 14.1% to 22.9%, while traditional labor-intensive products have decreased from 27.3% to 24.1% [11]. Group 2: Strategic Partnerships and Investments - Nantong signed a strategic cooperation framework agreement with JD Group to optimize logistics and enhance trade, which has led to successful overseas promotional events attracting over 50 Middle Eastern buyers [2][5]. - The establishment of Scania's production base in Rugao, with an investment of 20 billion euros, marks a significant foreign investment project aimed at meeting local market demands [13][14]. - The total investment of 500 billion yuan in the China National Petroleum Corporation's Blue Ocean New Materials project is indicative of the rapid industrial development in the region [6][34]. Group 3: Industrial Transformation and Upgrades - Nantong is transitioning from a logistics-focused port to an industry-driven port, enhancing its resilience against external shocks and establishing itself as a crucial part of the global supply chain [9][10]. - The region is witnessing a shift towards high-end manufacturing, with companies like YKK AP focusing on high-quality aluminum alloy products, leveraging local industrial advantages [16][14]. - The development of cross-border e-commerce and the establishment of specialized industrial parks are facilitating the growth of local enterprises and enhancing their competitiveness in international markets [19][28]. Group 4: Future Outlook and Challenges - The article emphasizes the need for companies to adapt to changing global economic conditions, highlighting the importance of innovation and market responsiveness in maintaining competitiveness [23][31]. - Nantong's government is actively supporting businesses through efficient service and infrastructure development, aiming to attract more foreign investment and enhance the local economy [35][36]. - The ongoing transformation of traditional industries and the embrace of new technologies are crucial for sustaining growth and navigating the complexities of international trade [20][24].

Core Viewpoint - The 2026 mobilization meeting for major project construction and high-quality development in Henan province emphasizes the urgent need to focus on "projects" and "manufacturing" as key drivers for economic growth in the face of challenging external and internal environments [1][2]. Group 1: Project and Manufacturing Focus - The meeting highlights the importance of integrating infrastructure projects with industrial projects to drive regional economic growth, likening them to "wings of a bird" or "wheels of a vehicle" [2]. - A notable example is the Huike new display base in Zhengzhou, which achieved a record production timeline of 180 days from construction to operation, receiving 380,000 orders in January and shipping over 10,000 units daily [2][3]. Group 2: Economic Impact of Major Projects - Major projects like the Jiufeng Mountain Pumped Storage Power Station, valued at over 13 billion, are under construction, expected to save 156,000 tons of standard coal and reduce CO2 emissions by 688,500 tons annually, while also creating thousands of jobs and stimulating local economies [3]. - The push for a strong start in the first quarter is seen as foundational for the entire "14th Five-Year Plan" period, establishing a basis for high-quality development over the next five years [3]. Group 3: Strategic Planning and Market Integration - The strategy emphasizes moving beyond local markets to engage with the national unified market, leveraging Henan's substantial population and industrial diversity [4]. - The focus is on precision in project planning, targeting strategic emerging industries, such as biodegradable materials in Zhoukou, which are now integrated into the global green supply chain [4]. Group 4: Strengthening Industrial Chains - Efforts in Luoyang to enhance industrial chains include the development of a leading manufacturing base for high-power wind turbine bearings, reducing reliance on imports and strengthening the entire supply chain [5]. - The integration of AI technology in traditional manufacturing, as seen with Ruibeka in Xuchang, showcases the transformation of traditional sectors into modern fashion industries [6]. Group 5: Innovation and Technology Integration - The meeting calls for a combination of technological and industrial innovation to accelerate the conversion of laboratory results into competitive production capabilities [6]. - The establishment of industrial internet platforms in Zhengzhou demonstrates the potential for real-time data analysis and process optimization, enhancing operational efficiency [6]. Group 6: Overall Development Strategy - The comprehensive approach of promoting development through projects is set to define Henan's economic narrative for the new year, with a clear commitment to advancing through tangible initiatives [7].

Core Insights - The 2026 provincial major project construction and high-quality manufacturing development mobilization meeting in Kaifeng set the tone for the year, emphasizing the importance of projects and manufacturing for future growth [1] - The meeting highlighted the urgency for Henan to seize opportunities presented by national policies, particularly in the context of the "14th Five-Year Plan" and the beginning of the "15th Five-Year Plan" [1][2] Group 1: Project and Manufacturing Focus - The integration of infrastructure projects and industrial projects is crucial, as both are seen as essential drivers of regional economic growth [2] - The rapid establishment of the Huike new display base in Zhengzhou, which went from construction to production in just 180 days, exemplifies the commitment to accelerating project implementation [2][3] Group 2: Economic Impact of Major Projects - Major projects like the Jiufeng Mountain pumped storage power station, valued at over 13 billion, are expected to save significant amounts of standard coal and reduce carbon emissions, while also creating thousands of jobs and stimulating local economies [3] - The focus on achieving a strong start in the first quarter is intended to lay a solid foundation for the entire "15th Five-Year Plan" [3] Group 3: Strategic Planning and Market Integration - Henan's project planning must shift from a local focus to a national market perspective, leveraging its large population and industrial diversity [4] - The emphasis on precision in project planning, strategic emerging industries, and the transformation of the economy from a "channel economy" to a "hub economy" is critical for attracting investment [4] Group 4: Strengthening Industrial Chains - Efforts to strengthen and supplement industrial chains are underway, with companies like Axis Research Technology leading the way in producing critical components for wind power [5] - The integration of AI technology in traditional manufacturing, as seen with Ruibeka in Xuchang, showcases the blending of design, e-commerce, and content marketing to transform industries [5][6] Group 5: Innovation and Development - The meeting called for a combination of technological and industrial innovation to enhance competitiveness, with a focus on accelerating the conversion of laboratory results into production capabilities [6] - The overarching strategy of promoting development through projects is being actively pursued across Henan, marking the beginning of a new chapter in the province's economic narrative [6]

Group 1 - The core viewpoint of multiple brokerage strategies is the expectation of a strong market opening in January, supported by liquidity factors and potential policy changes such as interest rate cuts [1][3] - The market environment in January is expected to be better than the previous two years, with a favorable liquidity and exchange rate situation, which may drive the continuation of the cross-year market trend [1][3] - Analysts suggest that the upcoming earnings forecasts will provide further guidance for market trends, indicating a potential expansion of the market's upward structure [1][3] Group 2 - The focus for institutional funds post-holiday is likely to be on consensus stocks that have adjusted, such as sectors like non-ferrous metals, overseas computing power, and semiconductors [2][4] - There is a preference for sectors with lower heat and concentrated holdings that are beginning to gain attention, such as chemicals, engineering machinery, power equipment, and new energy [2][4] - The spring market rally is anticipated to start gradually, with the potential for structural market trends to continue, although some volatility may occur in January [4][5] Group 3 - The strategies from various brokerages highlight the importance of monitoring policy expectations and industry trends, which could support the spring market rally [3][4] - The current market risk appetite remains high, providing room for high-elasticity technology themes to continue their upward trajectory [4][5] - Analysts emphasize the need for a cautious approach towards sectors that have previously shown weak fundamental support, as they may face adjustment risks [1][3]

证券研究报告 | 行业周报 gszqdatemark 2026 01 04 年 月 日 电力设备 -10% 6% 22% 38% 54% 70% 2025-01 2025-05 2025-08 2025-12 电力设备 沪深300 硅片电池价格持续走高，两部委发布 2026 年消费品以旧换新通知 光伏：硅片电池价格持续走高，组件涨价预期增强。据 InfoLink Consulting，延续 上周偏强的价格走势，硅片厂于上周四陆续上调报价，整体市场仍维持挺价基调。 从各尺寸表现来看，183N 硅片新一轮报价普遍上调至每片 1.40 元人民币，210RN 主流报价同步调整至每片 1.50 元人民币，210N 上周四起报价上移至每片 1.70 元 人民币，相较上周三以前出现明显抬升，且已有零星成交陆续释出。继上周各尺寸 报价持续上涨，本周一线电池厂家基本能达到每瓦 0.38 元以上价格，报价每瓦 0.39-0.40 元以上则有少量成交。近期头部组件企业普遍响应行业自律行为，陆续 上调组件报价。在涨价讯号逐步明确的背景下，分布式分销渠道率先出现成交上 行。组件端开始反映银价成本的抬升上调报价，在上周调涨 TOPCon ...

证券研究报告·公司研究简报·风电设备 天顺风能（002531） 短期承压，后续有望迎来修复拐点 2026 年 01 月 04 日 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 7,727 | 4,860 | 4,957 | 7,658 | 8,917 | | 同比（%） | 14.67 | (37.10) | 1.99 | 54.49 | 16.44 | | 归母净利润（百万元） | 795.23 | 204.44 | 175.51 | 757.79 | 977.35 | | 同比（%） | 26.53 | (74.29) | (14.15) | 331.77 | 28.97 | | EPS-最新摊薄（元/股） | 0.44 | 0.11 | 0.10 | 0.42 | 0.54 | | P/E（现价&最新摊薄） | 15.50 | 60.30 | 70.23 | 16.27 | 12.61 | [Table_ ...

格隆汇1月4日丨九鼎新材（维权）(002201.SZ)公布，第十一届董事会第七次临时会议于2025年12月31 日审议通过了《关于公司全资子公司投资建设大型兆瓦级风电叶片生产线项目的议案》，决定投资 24,567.6万元建设"大型兆瓦级风电叶片生产线项目"。本项目建设规模为年产10-12MW风电叶片320 套。 ...

每经AI快讯，1月4日，九鼎新材（002201）(002201.SZ)公告称，公司全资子公司甘肃九鼎风电复合材 料有限公司拟投资2.46亿元建设"大型兆瓦级风电叶片生产线项目"，项目建设规模为年产10-12MW风电 叶片320套，建设地点位于甘肃酒泉经济技术开发区(西园)，建设期为1年。该项目符合公司长期发展规 划，符合行业发展方向和市场发展趋势。 ...