格隆汇2月10日丨华绿生物(300970.SZ)公布2026年限制性股票激励计划，本激励计划拟向激励对象授予 的限制性股票数量为470.00万股，约占本激励计划草案公告时公司股本总额12,260.91万股的3.83%。本 激励计划授予的激励对象总人数为32人，本激励计划授予激励对象限制性股票的授予价格为11.44元/ 股。 ...

据路透社报道，阿根廷外交部长巴勃罗·基尔诺表示，阿根廷在本周与美国签署了一份关键矿产协议，然而，这份协议并不意味着中国无法参与或不再参与 阿根廷的投资。实际上，中国已经在阿根廷的矿产领域进行了大量投资。不过，基尔诺在声明中特别强调，这一表态有效期至今天，显然，阿根廷也意识到 这件事情充满了巨大的不确定性。近年来，美国为打造稀土产业的供应链，投入了大量心血，50多个国家的财长和矿产部长轮番前往华盛顿开会。2月4日， 美国副总统万斯终于明确宣布要建立一个关键矿产贸易集团，并由美国主导，制定一整套为相关大宗商品设定底价的机制。 阿根廷在美国决议出台后，迅速成为首个签订协议的国家，同时，双方还签订了附加的互惠贸易与投资协议。根据新协议，阿根廷承诺在铜、锂等矿产方 面，将美国视为优先贸易伙伴。而中国，则在美国的叙事中被描绘成操控市场的经济体或企业。要知道，中国目前是阿根廷的第二大贸易伙伴，中资企业对 阿根廷的投资已经涵盖了能源、矿产等各类基础设施，累计投资数十亿美元。当中美之间的博弈与特朗普的门罗主义2.0战略发生碰撞时，阿根廷等地区国 特朗普针对稀土问题提出的去中国化供应链计划，注定难以顺利实施。原本，美国还在思考是 ...

"我清空了美股，但我绝不会卖掉金银铜。" 在全球金融局势波谲云诡的2026年开年，现年84岁的"商品大王"吉姆·罗杰斯（Jim Rogers）给出了他的 生存指南。 这位传奇投资家26岁只身闯荡华尔街，早在上世纪80年代就以精准抄底奥地利股市而一战成名，并曾准 确预测1987年全球股灾和2008年美国次贷危机。 2025年12月，吉姆·罗杰斯再次对全球经济发出警告。他认为，美国作为世界历史上最大的债务国，其 高达38万亿美元的国债规模正将国家引向深渊，并预言下一次危机将是他"一生中见过的最惨烈的一 次"，其根源在于全球令人窒息的债务规模。 2026年2月6日，《每日经济新闻》记者（以下简称NBD）对吉姆·罗杰斯进行了专访。在访谈中，他详 细阐述了自己对潜在危机的看法、具体的避险策略以及看好金属的底层逻辑。 面对潜在的危机，吉姆·罗杰斯透露，他已经清空了全部美股持仓，转而将黄金、白银和铜等实物商品 视为"完美的保险单"，并计划将其作为遗产留给后代。 谈商品：金银铜是"避难所"，不交易、只持有 NBD：2026年开年以来，国际金价剧烈波动，你怎么看？ 吉姆·罗杰斯：我建议每个人都应该在手里握有一些黄金和白银。因为 ...

Core Viewpoint - The company, Nopson (002215.SZ), has signed a licensing agreement with Mountain Blue Orchards Pty Ltd (MBO) for blueberry variety intellectual property, aiming to enhance its blueberry business growth and quality through strategic collaboration [1]. Group 1 - The licensing agreement allows Nopson's wholly-owned subsidiary, Aimeizhuang Agricultural Group Co., Ltd. (referred to as "Aimeizhuang Group"), to cultivate and commercialize several patented blueberry varieties in a specified region [1]. - The collaboration between Aimeizhuang Group and MBO is designed to leverage both parties' strategic layouts and resource advantages, establishing a long-term and stable cooperative system [1]. - This partnership is expected to effectively optimize the company's variety resource structure, providing ongoing support for future growth and quality improvement in the blueberry business [1].

Asset Allocation Insights - A-shares are focusing on mid-cap blue chips, with a neutral stance on bonds and US stocks, and a cautious outlook on gold in the short term[2] - The risk appetite in A-shares is shifting, with structural opportunities being the main focus amid overall market fluctuations[2] - Bond performance in February is expected to follow risk appetite trends, serving as a hedge against risk assets[2] Market Sentiment and Risk Assessment - Regulatory measures in January have led to a more balanced risk preference, with high-risk investors showing decreased appetite while low-risk investors gain confidence[9] - Trading sentiment across large, mid, and small-cap stocks has cooled, but medium-term uncertainty remains relatively stable[9] Industry and Sector Recommendations - Current price increases in cyclical goods are key indicators for asset allocation, with a positive outlook on sectors like chemicals, agriculture, and non-ferrous metals[30] - The report highlights two main drivers for price increases: industrialization in emerging economies and geopolitical tensions affecting import prices[30] Model and Strategy Suggestions - The recommendation includes increasing positions in mid-term bonds and focusing on sectors such as non-ferrous metals, chemicals, and military technology for February[5] - The multi-asset allocation strategy suggests a combination of passive and active enhancements, with a focus on risk parity models for stock and bond allocations[48] Performance Metrics - The low-volatility strategy has achieved an annualized return of 11.8%, while the high-volatility strategy has reached 18.1% since 2025[9] - The industry rotation strategy has outperformed benchmarks with an annualized return of 44.8% since 2025[9]

Market Outlook - A-shares are focusing on mid-cap blue chips, with a neutral stance on bonds and US stocks, and a cautious outlook on gold in the short term[2] - Risk appetite in A-shares is shifting, with structural opportunities being the main focus amid overall market fluctuations[2] - The bond market is expected to continue following risk appetite trends, serving as a hedge against risk assets[2] Investment Strategy - The report recommends increasing allocations to mid-cap blue chips and sectors such as non-ferrous metals, chemicals, new energy, military, communication, and electronics[5] - A dual strategy of passive and active enhancement is suggested for stock-bond allocation, with a focus on increasing positions in mid-term bonds[48] Industry Insights - Price increases in cyclical goods are highlighted as key investment clues, particularly in the chemical, agricultural, and non-ferrous sectors[30] - Geopolitical tensions are raising global economic risk assessments, which is a fundamental driver for commodity price increases[30] Performance Metrics - The low-volatility strategy has achieved an annualized return of 11.8%, while the high-volatility strategy has reached 18.1% since 2025[9] - The industry rotation strategy has outperformed benchmarks with an annualized return of 44.8% since 2025[9] Risk Considerations - Extreme risk events could disrupt market expectations, and there is a risk of quantitative models failing to predict future trends[6]

Core Viewpoint - The 2026 Central No. 1 Document emphasizes the modernization of agriculture and rural areas, introducing new policies and initiatives to boost rural revitalization and enhance agricultural productivity [1][2][3][4] Group 1: Agricultural Modernization - The document prioritizes enhancing agricultural comprehensive production capacity through hard measures and technological advancements, addressing food security for over 1.4 billion people [2][3] - It introduces the integration of artificial intelligence with agriculture, marking the first inclusion of drones and robots in a Central No. 1 Document [3] Group 2: Rural Revitalization - The document outlines a strategy for rural revitalization that includes improving infrastructure while avoiding large-scale demolitions, ensuring both aesthetic and functional development of rural areas [4] - It emphasizes the importance of caring for vulnerable groups in rural communities, such as the elderly and left-behind children, through monitoring and support initiatives [4] Group 3: Long-term Development Policies - The extension of land contracting periods by an additional 30 years is highlighted as a measure to provide farmers with long-term security and stimulate rural development [4] - The concept of "regular precise assistance" is introduced for the first time, indicating a commitment to ongoing support for poverty alleviation efforts [4]

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The recent sharp decline in the market does not change the global inflation narrative, with the core driver of overseas markets being Trump's policies [1] - Domestic policies clearly aim to boost inflation, and globally, geopolitical tensions continue to drive the competition for mineral and energy resources [2] - In the short - term, be vigilant about market volatility, while in the long - term, inflation trends remain unchanged unless there is an economic recession or strong interest - rate hike expectations [2] Summary by Related Catalogs Market Analysis - On January 30, Trump announced the nomination of Kevin Warsh as the next Fed Chair. Warsh's policy of "rate cuts + balance - sheet reduction" led to a significant decline in silver and gold prices, and put pressure on Bitcoin, precious metals, and US stocks. On February 10, Warsh may make his first public speech as a Fed candidate [1] - Hasset believes that employment data may slow down, but it does not hinder strong economic growth [1] - The central economic work conference emphasized consumption promotion and price stability. The central bank cut interest rates on January 15, and the Ministry of Finance issued five important policy documents on January 20 [2] - The US manufacturing activity unexpectedly expanded in January, with the ADP employment increase of 22,000 people, lower than the expected 45,000. The US and India reached a trade agreement framework, and Trump confirmed India's commitment to stop importing Russian oil [2] - The ruling coalition in Japan won a majority in the House of Representatives election. Prime Minister Kaoi Sanae announced plans to discuss food tax cuts and promote private - public investment [2][4] - Due to the political turmoil of UK Prime Minister Starmer, the UK's stock, bond, and foreign - exchange markets all declined [2][4] Commodity Analysis - In the non - ferrous sector, long - term supply constraints remain unresolved, and precious metals have regained allocation value after the adjustment. In the energy sector, OPEC+ will keep oil production stable in March. The US plans to "sell on behalf" of Venezuelan oil, and Trump hopes to lower oil prices to $50 per barrel [2] - In the chemical sector, products like methanol and PTA are relatively resistant to decline under the "anti - involution" and stock - commodity linkage. For agricultural products, weather and short - term pig diseases need attention, and for the black metal sector, domestic policy expectations and low - valuation repair potential are key points [2] Strategy - For commodities and stock index futures, consider buying precious metals on dips [3] Important News - Hasset expects a slight decline in employment data, consistent with high GDP growth [4] - Kaoi Sanae will promote food tax - cut discussions in Japan, not issue deficit bonds, and seek to raise funds through non - tax revenues and subsidy reviews. She hopes to visit the US next month [4] - The ruling coalition in Japan won a majority in the House of Representatives election [4] - Two key officials of UK Prime Minister Starmer resigned [4] - Zelensky said the US hopes to end the Russia - Ukraine conflict by summer, and a new round of tripartite talks may be held this week [2][4]

宏观日报 | 2026-02-10 上游价格持续回落 中观事件总览 生产行业：1）商务部召开汽车企业座谈会，研究汽车流通消费有关工作。商务部副部长盛秋平在会上指出，我国 超大规模市场基础牢，汽车消费链条长潜力大，政策接续实施支撑稳，全链条扩大汽车消费大有可为。2026年， 商务部将会同相关部门，坚持政策支持和改革创新并举，存量措施和增量政策集成发力，优化实施汽车以旧换新， 开展汽车流通消费改革试点，完善行业管理制度，多措并举推动汽车消费扩容提质。 服务行业：1）财政部、海关总署、税务总局发布关于跨境电子商务出口退运商品税收优惠政策的公告。支持跨境 电子商务新业态发展，现将跨境电子商务出口退运商品税收优惠政策公告如下：对自2026年1月1日至2027年12月 31日期间在跨境电子商务海关监管代码（1210、9610、9710、9810）项下申报出口，因滞销、退货原因，自出口 之日起6个月内原状退运进境的商品（不含食品），免征进口关税和进口环节增值税、消费税；出口时已征收的出 口关税准予退还，出口时已征收的增值税、消费税参照内销货物发生退货有关税收规定执行。 数据来源：iFind，华泰期货研究院 行业总览 上游： ...

gtaxinstitute@essence.com.cn 综合晨报 2026年02月10日 (原油) 美伊均对上周五在阿曼举行的会谈给予积极评价,并计划本周继续磋商。市场短期认为局势失控风 险降低,对冲突和供应中断的担忧有所缓解。这一判断也与政治现实相符：考虑到低油价承诺及中 期选举临近，美方在选前主动升级局势的可能性较低。然而伊朗态度依然强硬，其外长强调承认铂 浓缩权利是谈判关键,双方核心分歧显著,僵局可能持续。而特朗普在委内瑞拉的成功或增强其对 伊朗的施压信心，不愿轻易让步。因此短期内对峙难有突破。布伦特油价在68-70美元区间大幅震 荡，反映出在谈判前景不明、对峙持续的背景下，市场持续计入地缘风险溢价。预计油价将保持高 波动性，且继续蕴含显著的地缘政治风险溢价。 【责金属】 隔夜贵金属震荡反弹。市场聚焦本周美国非农就业和CPI数据以重新评估降息前景，美国国家经济委 员会主任哈塞特预警就业增长数字将会下降，但认为GDP增长非常强劲。美伊谈判将会继续，她缘仍 存在不确定性。短期贵金属处于剧烈震荡阶段，观望等待波动率下降。 （铜） 隔夜铜价随贵金属反弹，沪铜节前继续减仓，市场持续关注地缘风险与长线战略金属价值 ...