Market Performance - Fenglong Co., Ltd. achieved a 14-day consecutive rise, while Xinhua Department Store and Sanbian Technology recorded 4 and 5 days of consecutive increases respectively [1] - The Shanghai Composite Index showed strong performance, with a total trading volume of 2.71 trillion yuan, a decrease of 317.9 billion yuan compared to the previous trading day [1] - Over 3,500 stocks in the market experienced an increase, with sectors such as power grid equipment, military industry, robotics, and precious metals leading the gains [1] Precious Metals Sector - International precious metal prices reached historical highs, with spot gold exceeding $4,690 and spot silver surpassing $94 per ounce [1] - The precious metals sector performed exceptionally well, with Sichuan Gold hitting the daily limit, and both Shanjin International and Xiaocheng Technology rising over 5%, achieving historical highs [1] Company Announcements - Yidian Tianxia announced the end of its suspension for stock trading, set to resume on January 20, 2026, after a self-examination regarding significant stock price fluctuations [2] - Chengdu Huamei projected a net profit increase of 74% to 109% for 2025, with Q4 net profit expected to grow by 458% to 614% due to increased demand in the special integrated circuit industry [2] - Dingtong Technology forecasted a 120% increase in net profit for 2025, driven by significant growth in its high-speed communication products due to strong market demand [3]

隔夜股市 | 标的 | 周一涨跌 | | --- | --- | | 上证指数 | 0.29% | | 深证成指 | 0.09% | | 恒生指数 | -1.05% | | 目经225指数 | -0.65% | | HEKOSPI | 1.32% | | CEDAX30 | -1.34% | | 法国CAC40 | -1.78% | | 英国官时100 | -0.39% | | 欧洲斯托克50 | -1.72% | | 纳斯达克指数 | 休市 | | 标普500指数 | 休市 | | 道琼斯指数 | 休市 | 受美国总统特朗普再次挑起贸易摩擦影响，全球主要指数周一多数下跌。美国股市因马丁·路德·金纪念 日休市。 商品市场 | 标的 | 周一涨跌 | | --- | --- | | NYMEX WTI原油 | 0.19% | | ICE布伦特原油 | 0.08% | | COMEX黄金 | 1.77% | | COMEX自银 | 6.49% | | NYMEX把金 | 3.33% | | NYMEX天然气 | 8.97% | | LME铜 | 1.28% | | LME铝 | 1.12% | | LME锌 | ...

Group 1 - The A-share market has shown strong performance at the beginning of 2026, driven by a combination of market trends, seasonal factors, and recovery in overseas markets [1][2] - Recent market fluctuations are attributed to the implementation of counter-cyclical adjustment policies and profit-taking in popular sectors, which are considered healthy adjustments that do not alter the overall upward trend [1][2] - The macroeconomic environment is expected to support five key investment themes for the year: the artificial intelligence industry chain, high-dividend assets, anti-involution sectors, domestic demand expansion, and resource sectors [1][5] Group 2 - The spring market rally is historically supported by liquidity and valuation drivers, typically lasting around 57 days, with the current phase still in its early stages [2] - Positive performance in overseas markets, particularly in Japan and South Korea, has significantly boosted investor sentiment in the A-share market [2] - Recent adjustments in the A-share market, including changes in financing margin ratios, are aimed at curbing excessive leverage and maintaining a stable upward trend [2][3] Group 3 - Investment strategies must adapt to changing market conditions, emphasizing the importance of position management and avoiding excessive leverage [3][4] - Investors are encouraged to develop independent judgment capabilities to avoid speculative traps and focus on fundamental research [3][4] - The market is transitioning from a speculative phase to one driven by fundamentals, with a focus on true technological growth and value [3][4] Group 4 - Four strategic recommendations for the pre-Spring Festival period include maintaining moderate positions, adopting a barbell strategy for asset allocation, focusing on specific technology sectors, and enhancing individual stock fundamental research [4] - The artificial intelligence industry chain is expected to shift towards application opportunities in 2026, with a focus on sectors like media and computing [5] - High-dividend assets remain a stable investment choice, with sectors such as white goods, banking, and utilities providing low volatility and steady returns [5] Group 5 - The anti-involution sector is entering a phase driven by fundamentals, with industries like coal, steel, and lithium batteries expected to see improved performance due to industry consolidation [5] - The expansion of domestic demand should focus on new consumption areas such as health, sports, and travel, which are expected to benefit from policy support [5] - Resource sectors, particularly strategic and industrial metals, are anticipated to experience valuation recovery in 2026, presenting potential investment opportunities [5][6]

◎记者 费天元 电网设备板块指数日K线图 郭晨凯 制图 昨日，有色金属板块整体走强，贵金属相关个股领涨。截至收盘，申万贵金属指数上涨4.20%，四川黄 金、招金黄金收获涨停，山金国际涨超8%，晓程科技、中金黄金涨超5%。 1月19日，A股市场全天横盘震荡，有色金属、石油石化等周期板块领涨，带动沪指飘红。截至收盘， 上证指数报4114.00点，涨0.29%；深证成指报14294.05点，涨0.09%；创业板指报3337.61点，跌0.70%； 科创综指报1851.07点，跌0.21%。沪深两市合计成交27084亿元，较上周五缩量3179亿元。 电网设备板块持续活跃 自上周五掀涨停潮后，电网设备板块昨日继续活跃。截至收盘，申万电网设备指数大涨7.01%，在所有 二级行业中涨幅居首，汉缆股份、森源电气、广电电气、积成电子等收获日线两连板，双杰电气收获 20%幅度涨停。 消息面上，1月17日，国家能源局宣布，2025年中国全社会用电量历史性突破10万亿千瓦时，达到10.4 万亿千瓦时，同比增长5%。这一数字在全球单一国家中尚属首次，相当于美国全年用电量的2倍多，超 过欧盟、俄罗斯、印度、日本四个经济体的年用电量总和。 ...

Group 1 - The core viewpoint emphasizes the importance of macroeconomic factors, such as monetary policy, macro expectations, geopolitical dynamics, and supply disruptions, in influencing metal price trends, despite a balanced supply-demand situation [1] Group 2 - Precious metals prices are experiencing fluctuations, with a slight increase attributed to positive U.S. employment data. Central bank gold purchases and rising gold ETF holdings are expected to support gold prices through 2026 [2] - Silver's rental rates in London have decreased, but U.S. silver inventories are declining rapidly [2] Group 3 - Copper prices are under short-term pressure due to macro sentiment adjustments and revised demand forecasts from Nvidia, but tight supply and ongoing demand from AI and power grid investments are expected to support prices. The State Grid's projected fixed asset investment of 4 trillion yuan during the 14th Five-Year Plan represents a 40% increase from the previous plan [3] Group 4 - Aluminum prices are experiencing high volatility due to mixed macro signals. Domestic new electrolytic aluminum projects are ramping up production, while demand is weakening ahead of the Spring Festival, leading to inventory increases [3] - Tin prices are expected to fluctuate as market sentiment cools following significant price movements and adjustments in trading regulations [3] Group 5 - Lithium carbonate inventories have begun to decrease, with demand showing signs of strength. The expected reduction in export tax rebates for battery products may lead to front-loaded demand [4] - The cobalt sector is facing high prices due to tight raw material supplies, while companies are extending their reach into downstream electric new energy sectors to enhance competitive advantages [4] Group 6 - Rare earth prices are recovering due to policy support and pre-holiday inventory demand, indicating strong investment value in rare earths as strategic resources [5]

证券日报网讯 1月19日，贵研铂业在互动平台回答投资者提问时表示，公司作为国内贵金属材料领域的 核心企业，长期以来参与国家重大工程配套，始终致力于为航空航天等领域提供高性能贵金属材料解决 方案。公司凭借在贵金属合金、功能材料等领域的技术积累和产品优势，确曾为相关任务的顺利实施提 供过材料配套支持，相关历史贡献是公司技术实力与行业地位的重要体现。 （文章来源：证券日报） ...

2026.01. 19 本文字数：3133，阅读时长大约5分钟 作者 | 第一财经 魏中原 景气度较差的地产行业，相关上市公司业绩也普遍承压。华夏幸福（600340.SH）预计去年归母净利润亏损160亿元至240亿元；绿地控股 （600606.SH）预亏160亿元至190亿元。就业绩亏损的原因，上述两家企业均表示市场有效需求不足、社会预期偏弱，房地产业的结转规模、基建产 业的营收规模同比均有较大幅度下降。 A股市场已有超过350家公司发布2025年度业绩预告，一幅清晰的产业景气度"分野图"就此展开。 业绩预告数据显示，在全球科技浪潮与商品周期驱动下， 半导体、有色金属 行业业绩耀眼，龙头公司普遍实现高增长；而曾备受瞩目的 光伏 产业则因 产能过剩、价格内卷深陷亏损，多家龙头预亏合计超300亿元。更为引人深思的是， 商业航天、AI应用 等此前遭资金热捧的赛道，多数公司业绩预告 亏损，凸显概念炒作后基本面与估值的严重脱节。 综观已披露的业绩预告，A股市场正在经历一场从"预期叙事"到"报表验证"的切换，市场资金正基于业绩真实成色进行博弈与调仓，业绩确定性已成为 当前市场的核心锚点。 半导体业绩实现高增长，光伏龙头陷 ...

面对这种"指数震荡、个股活跃"的格局，我们中长线投资者的策略应该更加清晰。第一，坚决聚焦主 线。对于像电网设备这样有长期政策背书、市场空间打开的板块，其行情往往不是一日游，可以深入挖 掘产业链中的核心环节和优质公司。第二，对高位热点保持谨慎。对于前期涨幅过大、且与业绩兑现尚 有距离的题材，在调整未稳时不宜轻易抄底。第三，均衡配置，关注"跷跷板"另一头的机会。当资金从 一些板块流出时，必然会寻找新的去处。一些估值合理、行业景气度有望触底回升的板块（如部分消 费、医药细分领域），可能会成为下一阶段资金关注的焦点。 总之，午盘的分化告诉我们，鸡犬升天的阶段可能已经过去，精挑细选的时代正在到来。在指数看似平 淡的震荡下，是暗流涌动的结构调整。我们要做的，就是放下对指数短期涨跌的过度焦虑，把精力放在 研究产业趋势和公司基本面上，稳稳地坐在"价值"这一头。我是帮主郑重，咱们收盘后再见。 今天的"跷跷板"两头非常清楚。一头是重重压下的，主要是前期过热的方向。AI应用、CPO（光模块） 板块出现了明显调整，多只人气股触及跌停。保险板块也持续下挫。这说明，在监管强调"防止大起大 落"、市场主动降温的背景下，那些短期涨幅巨大、交 ...

回顾上周以来海外主要市场动态：最新通胀数据显示温和降温，市场仍存在一定降息预期；美国当周初 请失业金人数意外下降，或对降息可能有所压制。此外，上周美国司法部对美联储主席鲍威尔展开刑事 调查，引发市场对美联储独立性的担忧，导致金价上涨；而特朗普表示倾向于让哈赛特留任国家经济委 员会主任而非担任美联储主席，贵金属价格有所调整。另外，地缘风险持续激发市场避险情绪。总体来 看，在地缘冲突持续与众多宏观事件落地后，金价震荡走强，或可考虑逢低分批布局黄金基金ETF （518800）。 周度回顾： （1）海外经济 截至上周五（1月16日），伦敦现货黄金报收4599.04美元/盎司，自1月9日以来累计上涨90.02美元/盎 司，涨幅达2%。上周伦敦现货黄金价格震荡走强，金价最高上行至4643美元/盎司。 经济数据上：通胀方面，美国12月CPI反弹幅度不及预期，核心CPI环比增速0.2%，低于预期的0.3%。 能源成本上涨推动美国11月PPI环比上涨0.2%，但核心PPI环比持平。美国至1月10日当周初请失业金人 数意外下降至19.8万人，为去年11月底以来的新低，显著低于21.5万人的市场预期；此外前值下修，截 至1月10日 ...

盘面上，电网设备概念爆发，十余只成分股涨停，保变电气、中国西电、广电电气涨停。机器人概念震 荡拉升，五洲新春、日盈电子涨停。贵金属板块涨幅居前，四川黄金、招金黄金涨停。旅游酒店概念走 强，大连圣亚、九华旅游涨停。商业航天概念局部活跃，九鼎新材、越秀资本涨停，超捷股份涨超 15%。下跌方面，CPO概念震荡下挫，剑桥科技跌停，腾景科技、光迅科技下挫。 热点角度来看，涨停板最多的方向是"电网设备"！这板块无论持股还是追涨体验都不太好。上周五追涨 的套了一批，今天上午自救反包，然后又是各种炸板，到了下午再拉升，比较考验心态。"机器人"有10 来家上板，主要靠消息催化，持续性目前看不大。整体上，现在板块的持续情况是不怎么行的，上周四 五连续两天表现最强的"芯片半导体"，今天就没表现。其实，自从市场最大主线题材"商业航天"退潮以 来的三天，每天的板块都是在快速轮动，完全无法让市场资金形成市场共振，也就很难在短期内奢望指 数发动新一波上攻行情。关于这个话题更多独到见解尽在"有看投"APP上，大家赶紧扫描下方"有看 投"二维码，注册下载"有看投"APP，小编和各位投资大咖在那里恭候各位股友~让我们一起抓住大牛股 ~ 直播课程 ...