【博时市场点评2月11日】两市涨跌不一，创业板跌超1% 每日观点 今日沪深三大指数涨跌不一，创业板指跌超1%，两市成交较昨日继续缩量至略过2万亿。央行发布2025 年第四季度货币政策报告，重申继续实施适度宽松的货币政策，灵活运用多种工具保持流动性充裕，为 A股奠定了较为稳定的宏观流动性基础。同时提出将常态化开展国债买卖操作，关注长期收益率的变 化。政策核心是完善流动性管理框架、加强政策协同，而非直接进行大规模量化宽松。同时，报告表述 的细微变化显示政策更注重"精准滴灌"，短期降息概率或有所降低。1月物价数据公布，核心CPI温和上 涨的态势没有改变，PPI环比继续上涨，同比降幅延续收窄。数据释放了工业生产与居民消费两端动能 边际改善的积极信号，有助于提振企业盈利预期和整体市场信心。从当前市场行为看，资金或逐步从宏 观预期转向微观验证，市场整体有望在业绩验证中延续结构性行情。 2月10日，工业和信息化部等五部门联合发布《关于加强信息通信业能力建设 支撑低空基础设施发展的 实施意见》。文件设定了明确的发展目标：到2027年，全国低空公共航路地面移动通信网络覆盖率不低 于90%。为此，文件部署了推进低空通信网络覆盖、 ...

Group 1 - The core viewpoint of the article highlights a market trend characterized by "cyclical support and technological accumulation," indicating a divergence in performance between cyclical sectors and technology stocks [1] - The A-share market is experiencing a strong performance in undervalued cyclical sectors driven by rising economic recovery expectations and global reflation trades, while technology stocks are in a consolidation phase due to a lack of strong catalysts [1] - The Guotai Science and Innovation ETF (588360) tracks the Science and Innovation 50 Index (931643), which includes 50 large-cap emerging industry companies, reflecting the overall performance of representative emerging industries [1] Group 2 - The Science and Innovation 50 Index focuses on sectors such as electronics, power equipment, communications, and biomedicine, emphasizing technological attributes and innovative growth [1] - The index has a daily price fluctuation limit of 20%, indicating a high level of volatility and potential for significant price movements [1] - The overall market is expected to maintain a dynamic balance, with cyclical momentum requiring continuous validation from demand, while the next wave of technology advancement awaits clearer industrial signals and performance support [1]

Group 1 - Shenzhen Zhenyou Technology Co., Ltd. won a procurement project from Huaneng Coal Industry Co., Ltd. with a bid amount of 3.5886 million yuan [1][2][3] - In 2024, Zhenyou Technology reported an operating revenue of 952 million yuan, with a growth rate of 7.60%, and a net profit attributable to the parent company of 27 million yuan, reflecting a growth rate of 131.70% [2][3] - For the first half of 2025, the company experienced a decline in operating revenue to 350 million yuan, with a negative growth rate of 6.82%, and a net profit attributable to the parent company of -48 million yuan, indicating a drastic decline of 715.80% [2][3] Group 2 - The company operates in the information technology industry, with its main product types including command and dispatch systems (40.72%), centralized office systems (29.75%), technical and maintenance services (18.65%), core network systems (9.86%), and other businesses (1.02%) [2][3]

2026 年 2 月 11 日星期三 【实时热点】 【美国债市】 资料来源：BLOOMBERG、AASTOCKS、WIND、格隆汇、国元证券经纪（香港）整理 请务必阅读免责条款 美国去年 12 月零售销售意外"爆冷"，强化降息预期 特朗普称若美伊谈判失败，可能再派一个航母打击群前往中 东 五部门联合发文推动低空通信建设 国家发改委等部门发布加快招标投标领域人工智能推广应用 的实施意见 国家医保局：1 至 8 批国家集采药品新一轮接续采购开标已 产生拟中选结果 上海大都市圈国土空间规划中，覆盖长三角 14 城 2026 春节档电影预售票房破亿 可口可乐第四季度净营收 118 亿美元 低于预期 中芯国际 Q4 净利 12.23 亿元，同比增 23.2% 初代小米 SU7 正式停产 2 年期美债收益率跌 2.49 个基点报 3.454% 5 年期美债收益率跌 3.99 个基点报 3.701% 10 年期美债收益率跌 5.94 个基点报 4.143% 1 证 券 研 究 报 告 【经济数据】 | 重要指数 | 收市价 | 涨跌(%) | 海外市场重要指数 | 收市价 | 涨跌(%) | | --- | --- | - ...

【导读】A股主要指数走势分化；玻璃纤维概念股大爆发，中国巨石直线封板；影视股盘初跳水，通信板块走低 中国基金报记者 晨曦 大家好！一起来关注最新的市场行情和资讯～ 2月11日，A股主要指数早间小幅低开，随后走势分化。截至发稿，上证指数率先翻红，深证成指、科创综指、创业板指飘绿。 | Wind热门概念指数 | | | | | --- | --- | --- | --- | | 玻璃纤维 10.22% | 覆铜板 3.44% | 稀有金属 3.24% | 小金属 2.90% | | 锂电电解液 2.65% | 钻矿 2.55% | 镇矿 2.15% | 稀土 2.06% | | 化学纤维 1.94% | 锂矿 1.82% | GPU -1.18% | 光芯片 -1.54% | | 文化传媒主题 | 旅游出行 | 虚拟人 | 谷子经济 | | -1.58% | -1.61% | -1.80% | -1.83% | | 拼多多合作商 | 小红书平台 | 短剧游戏 | 光模块(CPO) | | -1.94% | -2.25% | -2.23% | -2.31% | 建筑材料板块直线拉升 小金属走强 上证指数(SH:00 ...

Core Insights - MSCI announced its quarterly index adjustments for February 2026, including the addition of 37 stocks to the MSCI China Index, reflecting international capital's recognition of China's growth in strategic emerging technology sectors such as AI and autonomous driving [1][3]. Group 1: New Additions - The newly added stocks include companies from various sectors such as technology, energy, and finance, with notable inclusions like Pony.ai (02026), Silver Holdings (601212.SH), and Leo Group (002131.SZ) [1][3]. - Among the new additions, four are Hong Kong stocks, including Pony.ai, SenseTime (00020), and Hesai Technology (02525), which represent the core technology chain for autonomous driving [1][3]. - The adjustment is expected to lead to passive fund inflows into the newly added stocks around the effective date of February 27 [1][3]. Group 2: Stocks Removed - A total of 16 stocks were removed from the index, primarily from traditional sectors such as real estate, finance, and automotive, including Zhejiang Expressway (00576) and China Communications Services (00552) [4][5]. - The removal of these stocks indicates a shift in market dynamics and a focus on enhancing the index's representation and liquidity [4][5].

Core Viewpoint - MSCI announced its quarterly index adjustments for February 2026, including the addition of 37 stocks to the MSCI China Index, reflecting international capital's recognition of China's growth in strategic emerging technology sectors such as artificial intelligence and new infrastructure [1][5]. Group 1: New Additions - The adjustment includes 37 new stocks, such as Xiaoma Zhixing (02026), Baiyin Nonferrous Metals (601212.SH), and Liou Co., Ltd. (002131.SZ), spanning various sectors including technology, energy, and finance [1]. - Among the new additions, four are Hong Kong stocks: Xiaoma Zhixing, SenseTime (00020), Hesai Technology (02525), and Changfei Optical Fiber (06869), which represent key components in the autonomous driving technology chain [1][3]. Group 2: Stocks Removed - A total of 16 stocks were removed from the index, primarily from traditional sectors such as real estate, finance, and automotive, including Zhejiang Huhangyong (00576) and China Communications Services (00552) [1][5]. - The removal of these stocks indicates a shift in market dynamics and a move towards enhancing the index's representation and liquidity [5].

Market Overview - On February 10, the Shanghai Composite Index rose by 0.13%, while the Shenzhen Component increased by 0.02%, and the ChiNext Index fell by 0.37%[3] - The total trading volume on February 10 was 2.12 trillion yuan, a decrease of approximately 150 billion yuan compared to the previous trading day[1] Sector Performance - The media, home appliance, and coal sectors saw significant gains, while real estate, food and beverage, and agriculture sectors experienced declines[1] - Major inflows of capital were observed in the film and television, IT services, and publishing sectors, while outflows were noted in photovoltaic equipment, military electronics, and batteries[3] Market Sentiment - Market strength weakened compared to Monday, reflected in reduced gains and trading volume[1] - The rise in media and entertainment stocks is attributed to the Seedance 2.0 event and the pre-Spring Festival timing, indicating a short-term speculative nature[1] Investment Strategy - Given the market's recent adjustments, a shift away from short-term thinking is advised, focusing on opportunities post-holiday in sectors like technology, non-ferrous metals, and chemicals[1] - Over 60% of private equity firms prefer to hold significant positions during the holiday, with 70% optimistic about post-holiday market performance[12]

注：指数成分股可能随指数编制规则发生变动，不构成任何投资建议或个股推荐。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，不构成投资建议或承诺。提及基金风 险收益特征各不相同，敬请投资者仔细阅读基金法律文件，充分了解产品要素、风险等级及收益分配原 则，选择与自身风险承受能力匹配的产品，谨慎投资。 每日经济新闻 相关机构表示，AI 数据中心需求推动光纤光缆量价齐升。数量上，光纤光缆被广泛应用在数据中 心 Scale Out 场景，伴随传输速率和配套光模块升级，传输通道数及光缆芯数也在增长；后续 Scale Across 和 Scale Up 场景亦有望打开光纤光缆的增量市场。价格上，行业供需关系改善引导G.657.A1、 多模等数据中心用光纤价格上行，同时也带来小芯径、超低损、空芯光纤等高价值产品需求。根据 C114 通信网，1 月 28 日，Meta 与康宁达成协议，拟于 26-30 年投资 60 亿美元用于 AI 数据中心光纤电 缆，印证行业景气度。 2 月 4 日及 2 月 5 日，谷歌母公 ...

对于受投资者关注的控股股东减持问题，梁建华回应，此前为支持公司业务发展，作为控股股东，他本 人数次质押股权融资，质押比例一度高达70%。减持是为了解决高质押的问题，预计后续股权质押比例 将降至20%左右。 （文章来源：新华财经） 超讯通信是国产GPU制造商沐曦股份的特定行业全国总代理。从2019年起，超讯通信开始推进业务转 型，布局智算业务，经过几年拓展，目前该业务营收占比已达80%。据梁建华介绍，目前超讯通信与国 央企、研究机构都有合作，有大量需求方主动接洽，订单及潜力订单充足，业务推进符合预期。 该公司2025年业绩预告显示，将实现扭亏为盈，归母净利润为3600万元到5400万元，扣除非经常性损益 归母净利润为2100万元到3100万元，主要原因包括公司算力业务在报告期内达到验收条件，从而确认相 关项目的收入和利润。同时，公司加强了应收账款的催收力度，减值损失对利润的影响较去年同期有所 减少。 日前记者采访超讯通信董事长梁建华时获悉，超讯通信后续会持续加大在智算领域的布局，考虑参股平 台软件、智能器件等相关企业，布局更完整的产业生态。 ...