Market Performance - The A-share market continues to show strong performance, with the Shanghai Composite Index achieving a 13-day winning streak, reaching its highest level since July 2015, closing at 4083.67 points, up 1.50% [3][5] - The Shenzhen Component Index rose by 1.40% to 14022.55 points, while the ChiNext Index increased by 0.75% to 3319.29 points. The total trading volume in the Shanghai and Shenzhen markets reached 283.26 billion, an increase of 26.51 billion from the previous day [3][5] Market Dynamics - The current market trend is characterized as a "short squeeze" rally, with the Shanghai Composite Index breaking through previous highs and maintaining a strong upward momentum [4][5] - Nearly 4000 stocks rose, with only 1210 declining, indicating a broad-based rally. The median increase among stocks was 0.8% [5] Sector Performance - The insurance sector led the market with a gain of over 4%, indicating its role as a core driver of the current rally since early December [5] - The securities sector also performed well, benefiting from prior adjustments, while the banking sector contributed to stabilizing the index despite initial declines [5] - Technology stocks, particularly in communications and semiconductors, faced adjustments, leading to a weaker performance in the ChiNext Index [6] Capital Flow - Significant capital outflows were observed in the communications sector, with approximately 11.1 billion leaving, while the securities sector saw a net inflow of 3.9 billion, indicating a potential shift in market focus [6] - The overall market experienced a net outflow of about 8 billion, despite the strong index performance, suggesting caution among investors [7] Future Outlook - The current market rally is seen as an early start to the spring market, but there are concerns regarding upcoming earnings reports that could impact speculative stock performance [7] - Investors are advised to monitor the performance of the Hang Seng Index and the Hang Seng Technology Index, which showed signs of a pullback towards the end of the trading day [7]

Core Viewpoint - The A-share market continues to show strong performance, with the Shanghai Composite Index achieving a 13-day winning streak, reaching its highest level since July 2015. However, there was a net outflow of main funds totaling 17.668 billion yuan across the market [2]. Group 1: Industry Performance - All major industry sectors saw gains, with notable increases in insurance, energy metals, chemical fertilizers, securities, and small metals. The beauty and personal care sector was the only one to decline [2]. - Among the 13 industries with net inflows, non-ferrous metals, non-bank financials, automotive, and computer sectors had net inflows of 3.423 billion yuan, 2.185 billion yuan, 1.477 billion yuan, and 1.064 billion yuan respectively. Other sectors like banking, oil and petrochemicals, electronics, and public utilities also saw inflows exceeding 100 million yuan [2]. Group 2: Individual Stock Performance - A total of 54 stocks experienced net inflows exceeding 200 million yuan, with 10 stocks seeing inflows over 600 million yuan. Notably, Dongfang Caifu had a net inflow of 2.658 billion yuan, while Shanzhi Gaoke saw 1.455 billion yuan [3][4]. - The top stocks with significant net inflows included: - Dongfang Caifu: 5.73% increase, 2.658 billion yuan net inflow - Shanzhi Gaoke: 10.12% increase, 1.455 billion yuan net inflow - TCL Technology: 8.35% increase, 1.293 billion yuan net inflow - Tonghuashun: 12.01% increase, 1.003 billion yuan net inflow - Zhinan Zhen: 9.61% increase, 915 million yuan net inflow [4]. Group 3: Net Outflow Analysis - A total of 63 stocks experienced net outflows exceeding 200 million yuan, with notable outflows from Zhongji Xuchuang, Xinyi Sheng, and Tianji Shares, each exceeding 1 billion yuan [5][6]. - The stocks with the highest net outflows included: - Zhongji Xuchuang: -2.93% change, 2.647 billion yuan net outflow - Xinyi Sheng: -2.13% change, 2.277 billion yuan net outflow - Tianji Shares: 0.35% change, 1.281 billion yuan net outflow [6]. Group 4: Tail-End Fund Movement - At the end of the trading day, the main funds saw a net inflow of 1.805 billion yuan, with significant inflows in the computer, non-bank financial, and national defense industries, each exceeding 400 million yuan [7]. - Individual stocks with notable tail-end inflows included: - Dongfang Caifu: 5.73% increase, 508.907 million yuan net inflow - Liou Shares: 6.94% increase, 271.545 million yuan net inflow - Tonghuashun: 12.01% increase, 233.563 million yuan net inflow [8].

Group 1 - The energy metals sector increased by 4.11% on January 6, with Huayou Cobalt leading the gains [1] - The Shanghai Composite Index closed at 4083.67, up 1.5%, while the Shenzhen Component Index closed at 14022.55, up 1.4% [1] - Key stocks in the energy metals sector showed significant price increases, with Huayou Cobalt rising by 8.07% to a closing price of 73.49 [1] Group 2 - The energy metals sector saw a net inflow of 1.878 billion yuan from main funds, while retail investors experienced a net outflow of 1.272 billion yuan [2] - Major stocks like Huayou Cobalt and Ganfeng Lithium attracted significant main fund inflows, with Huayou Cobalt receiving 4.43 billion yuan [3] - Retail investors showed a negative trend in several stocks, with notable outflows from Ganfeng Lithium and Tianqi Lithium [3]

| 序号 | 板块 | 涨跌幅(%)▼ | | 总成交量（万手） = 总成交额（亿元）▼ | 净流入 (亿元) ▼ | 上涨家数 | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 小金属 | 4.77 | 1378.28 | 460.18 | 32.34 | 26 | 1 | | 2 | 保 | 4.22 | 444.17 | 206.11 | 16.87 | ട | 0 | | 3 | 化学原料 | 3.94 | 2310.25 | 211.18 | 26.42 | 54 | ഗ | | র্ব | 能源金属 | 3.69 | 543.46 | 272.28 | 21.77 | 12 | 1 | | 5 | 证券 | 3.65 | 6984.44 | 932.45 | 157.41 | 50 | 0 | | 6 | 工业等選 | 3.45 | 6088.45 | 843.90 | 39.79 | 56 | N | | 7 | 农化制品 | 2.82 | 1766.89 | 276.20 | 24.16 | રેટ | র্ণ | ...

股票研究 /[Table_Date] 2026.01.06 地缘局势增加供给不确定性 [Table_Industry] 有色金属 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 李鹏飞(分析师) | 010-83939783 | lipengfei2@gtht.com | S0880519080003 | | 魏雨迪(分析师) | 021-38674763 | weiyudi@gtht.com | S0880520010002 | | 刘小华(分析师) | 021-38038434 | liuxiaohua@gtht.com | S0880523120003 | | 王宏玉(分析师) | 021-38038343 | wanghongyu@gtht.com | S0880523060005 | | 梁琳(分析师) | 021-23185845 | lianglin@gtht.com | S0880525070014 | | 李阳(分析师) | 021-23185618 | liyang7@gtht.com | S088052 ...

Group 1 - The Shanghai Composite Index rose by 1.14%, breaking the previous high from November 14, 2025, and reaching a new ten-year high [1] - The Shenzhen Component Index increased by 0.81%, while the ChiNext Index fell by 0.04% [1] - The Sci-Tech Innovation Board Index gained 1.05%, indicating positive momentum in the tech sector [1] Group 2 - Brokerage and insurance sectors showed the highest gains, reflecting strong investor confidence [1] - Stocks related to trading software, energy metals, semiconductors, brain-computer interfaces, commercial aerospace, and intelligent driving concepts experienced significant strength [1] - Adjustments were noted in computing hardware sectors such as CPO and high-speed copper connections [1]

Core Viewpoint - The A-share market showed mixed performance with the Shanghai Composite Index rising over 1% in early trading, indicating positive investor sentiment despite some sector declines [1]. Market Performance - The Shanghai Composite Index closed at 4069.38 points, up 1.14% - The Shenzhen Component Index closed at 13940.24 points, up 0.81% - The ChiNext Index closed at 3293.18 points, down 0.04% [1]. Sector Performance Top Performing Sectors - Insurance sector increased by 4.91% with a total trading volume of 292.22 million hands and a net inflow of 15.55 billion - Small metals sector rose by 4.67% with a trading volume of 954.96 million hands and a net inflow of 37.26 billion - Energy metals sector gained 3.72% with a trading volume of 384.15 million hands and a net inflow of 18.67 billion [2]. Underperforming Sectors - Communication equipment sector decreased by 0.68% with a trading volume of 1889.06 million hands and a net outflow of 77.51 billion - Components sector fell by 0.65% with a trading volume of 929.90 million hands and a net outflow of 31.50 billion - Beauty care sector declined by 0.25% with a trading volume of 157.47 million hands and a net outflow of 0.42 billion [2].

1月6日，盛新锂能盘中上涨2.08%，截至10:34，报37.36元/股，成交15.41亿元，换手率4.58%，总市值 341.95亿元。 资金流向方面，主力资金净流入3000.32万元，特大单买入1.71亿元，占比11.07%，卖出1.21亿元，占比 7.87%；大单买入4.16亿元，占比27.00%，卖出4.35亿元，占比28.26%。 截至9月30日，盛新锂能股东户数12.42万，较上期增加1.92%；人均流通股6974股，较上期减少1.88%。 2025年1月-9月，盛新锂能实现营业收入30.95亿元，同比减少11.53%；归母净利润-7.52亿元，同比减少 62.96%。 分红方面，盛新锂能A股上市后累计派现9.29亿元。近三年，累计派现8.11亿元。 机构持仓方面，截止2025年9月30日，盛新锂能十大流通股东中，香港中央结算有限公司位居第十大流 通股东，持股1043.29万股，为新进股东。华夏行业景气混合A（003567）退出十大流通股东之列。 责任编辑：小浪快报 盛新锂能今年以来股价涨8.51%，近5个交易日涨6.11%，近20日涨26.22%，近60日涨100.75%。 资料显示，盛新锂能集 ...

Core Viewpoint - The non-ferrous metal sector is leading the market, with the popular ETF, Huabao Non-Ferrous ETF (159876), reaching a historical high and attracting significant capital inflow, indicating strong investor confidence in the sector's future performance [1][8]. Group 1: Market Performance - The Huabao Non-Ferrous ETF (159876) saw an intraday increase of 3.03%, currently up 2.45%, marking a new historical high [1][8]. - As of January 5, the latest scale of the Huabao Non-Ferrous ETF reached 879 million yuan, also a historical high [1][8]. - The ETF has received a net subscription of 32.4 million units, with a total capital inflow of 56.48 million yuan over the past four days, reflecting positive market sentiment [1][8]. Group 2: Stock Performance - Leading stocks in the non-ferrous metal sector include Huayou Cobalt, which rose by 7.44%, and several others like Luoyang Aluminum and Zhongjin Lingnan, which increased by over 5% [2][10]. - Notable companies such as Zijin Mining are expected to achieve a net profit of 51 to 52 billion yuan in 2025, representing a year-on-year growth of 59% to 62% [2][11]. Group 3: Future Outlook - Analysts predict that the non-ferrous metal sector is likely to continue its bullish trend, with expectations of a bull market driven by monetary, demand, and supply factors in 2026 [3][12]. - The consensus among institutions is that the non-ferrous metal sector is entering a "super cycle," with varying degrees of performance across different metals [4][13].

Market Overview - The Shanghai Composite Index opened up 0.06% at 4026.02 points, while the Shenzhen Component Index rose 0.01% to 13830.3 points. The ChiNext Index fell by 0.45% to 3279.81 points, and the STAR Market 50 Index decreased by 0.12% to 1401.79 points. The total trading volume in both markets was 22.167 billion yuan, with nearly 2500 stocks rising [1][2]. Sector Performance - The brain-computer interface sector is gaining traction, with Neuralink, founded by Elon Musk, planning to significantly increase the production of brain-machine devices by 2026. Additionally, the National Medical Products Administration has established a priority approval list for high-end medical devices, which includes implantable brain-machine interface devices [2]. - The energy metals sector, particularly lithium mining, is leading the gains, with lithium carbonate prices rising over 4%. Other metals like silver, aluminum, and international copper also saw increases of over 2% [2]. Corporate Developments - ByteDance's AI glasses, branded "Doubao," are set to enter the shipping phase, with a no-screen version expected to launch in Q1 2026 and a display version anticipated in Q4 2026 [3]. - Nvidia's CEO Jensen Huang announced the arrival of a "ChatGPT moment" in robotics during a keynote at CES 2026, introducing a series of open-source "physical AI" models [4]. Analyst Insights - Everbright Securities predicts that external funds are likely to continue flowing back into the market, potentially pushing the Shanghai Composite Index to new highs. The index has seen a 12-day consecutive rise, nearing last year's peak [5]. - CITIC Securities notes that as the annual report disclosure season approaches, expectations for improvements in the fundamentals of technology assets are likely to strengthen, suggesting a focus on sectors like semiconductors, AI applications, and storage chips [6][7].