为进一步规范深圳市黄金市场经营秩序，防范化解市场风险，保护消费者合法权益，促进黄金市场健康发展，2月13日，深圳市地方金融管理局、中国人 民银行深圳市分行等10部门发布关于进一步规范黄金市场经营行为的公开提示。 其中提出：企业不得违规开展黄金预定价交易、杠杆交易、延期交易等非法黄金交易活动，以及以黄金托管、租赁、回购等为名、承诺"保本付息"固定收 益回报的非法集资行为。 具体原文如下 ▽ 关于进一步规范黄金市场经营行为的公开提示 为进一步规范深圳市黄金市场经营秩序，防范化解市场风险，保护消费者合法权益，促进黄金市场健康发展，根据《中华人民共和国刑法》、《中华人民 共和国中国人民银行法》、《中华人民共和国期货和衍生品法》、《中华人民共和国反洗钱法》、《中华人民共和国金银管理条例》、《防范和处置非法 集资条例》、《国务院关于清理整顿各类交易场所切实防范金融风险的决定》等法律法规和有关规定，现就企业、个人、金融机构及非银行支付机构从事 黄金业务禁止性行为公开提示如下： 一、企业黄金业务禁止性行为 1.不得违规开展黄金预定价交易、杠杆交易、延期交易等非法黄金交易活动，如通过微信群或小程序、APP、网站等互联网平台，以 ...

Market Overview - The Hong Kong stock market has been experiencing continuous adjustments, with the Hang Seng Index and Hang Seng Tech Index declining consecutively, approaching recent low points [1] - Sectors such as gold, non-ferrous metals, and technology have seen widespread declines [1] ETF Performance - Major ETFs listed in mainland China, including the largest Hang Seng ETF (159920), Hang Seng Tech Index ETF (513180), and Hang Seng Internet ETF (513330), have followed the index adjustments, with significant increases in trading volume [1] Capital Flow - Southbound capital has accelerated its inflow, with net inflows exceeding 11 billion HKD as of February 13 at 15:00 [1] - According to Everbright Securities, southbound capital is transitioning from speculative traders to a pricing anchor in the Hong Kong stock market, playing a core role in industry rotation, sector allocation, and market valuation formation [1]

2月13日，中国黄金跌2.35%，截至发稿，报10.79元/股，成交6.61亿元，换手率3.61%，总市值181.27亿 元。中国黄金股价已经连续4天下跌，区间累计跌幅6.66%。 来源：新浪基金∞工作室 资料显示，中国黄金集团黄金珠宝股份有限公司位于北京市东城区安外大街柳荫公园南街1号，成立日 期2010年12月16日，上市日期2021年2月5日，公司主营业务涉及中国黄金是国内专业从事"中国黄金"品 牌黄金珠宝产品研发、设计、生产、销售、品牌运营的大型企业,是中国黄金集团黄金珠宝零售板块的 唯一平台,是我国黄金珠宝销售领域知名的中央企业。主营业务收入构成为：黄金产品98.83%，品牌使 用费0.67%，管理服务费0.22%，其他业务0.15%，K金珠宝类产品0.13%。 从中国黄金十大流通股东角度 数据显示，永赢基金旗下1只基金位居中国黄金十大流通股东。黄金股ETF（517520）三季度新进十大 流通股东，持有股数966.81万股，占流通股的比例为0.58%。根据测算，今日浮亏损失约251.37万元。 连续4天下跌期间浮亏损失744.44万元。 黄金股ETF（517520）基金经理为刘庭宇。 截至发稿，刘庭 ...

Core Viewpoint - Chifeng Gold's stock price has shown a year-to-date increase of 19.97%, with significant fluctuations in trading volume and net capital outflow observed recently [2][3]. Group 1: Stock Performance - As of February 13, Chifeng Gold's stock price decreased by 2.01%, trading at 37.48 CNY per share, with a total transaction volume of 1.254 billion CNY and a turnover rate of 1.99% [1]. - Year-to-date, Chifeng Gold's stock has increased by 19.97%, with a 1.27% rise over the last five trading days, a 16.04% increase over the last 20 days, and a 19.55% increase over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Chifeng Gold reported a revenue of 8.644 billion CNY, representing a year-on-year growth of 38.91%, and a net profit attributable to shareholders of 2.058 billion CNY, which is an increase of 86.21% year-on-year [2]. - The company has distributed a total of 387 million CNY in dividends since its A-share listing, with the same amount distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Chifeng Gold had 104,000 shareholders, a decrease of 14.13% from the previous period, with an average of 0 circulating shares per shareholder [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 49.8138 million shares, a decrease of 36.0486 million shares from the previous period [3].

Core Viewpoint - The significant drop in gold prices is attributed to multiple factors, including strong U.S. employment data, a sharp decline in U.S. stock markets, and profit-taking activities in the silver market, leading to a chain reaction affecting gold prices [2]. Group 1: Market Reactions - Gold prices fluctuated between $5040 and $5080 until a sharp decline occurred, dropping nearly $200 to a low of $4878 before stabilizing around $4888 [1]. - Following the drop, gold rebounded to a high of $4997 but faced resistance near the $5000 mark, currently trading around $4977 [1]. Group 2: Economic Indicators - The U.S. non-farm payroll data released on Wednesday showed an increase of 130,000 jobs, significantly above the expected 70,000 and previous value of 50,000, with the unemployment rate decreasing from 4.4% to 4.3% [2]. - This strong employment data has led to expectations that the Federal Reserve will maintain higher interest rates for a longer period until inflation is controlled, causing a delay in market expectations for the Fed's first rate cut this year [2]. Group 3: Market Sentiment and Technical Analysis - The decline in U.S. stock markets, driven by fears of AI disrupting traditional industries, prompted panic selling and increased demand for margin, leading some investors to liquidate gold positions for cash [2]. - Profit-taking in the silver market, which had seen significant gains, also contributed to the pressure on gold prices, as the volatility in silver prompted investors to exit positions in gold [2]. - Technical indicators suggest that gold prices are experiencing a rebound demand despite the recent drop, with support levels identified at $4930 and $4880, while resistance is noted at $5000 and $5100 [4].

Market Performance - The Hong Kong stock market opened lower and continued to decline, with the Hang Seng Index dropping by 1.79%, the National Enterprises Index falling by 1.74%, and the Hang Seng Technology Index decreasing by 1.65% [1] AI Sector - The "AI dual giants" in Hong Kong, Zhizhu and MINIMAX-WP, both reached historical highs, with their market capitalizations surpassing HKD 200 billion [1] Semiconductor Sector - The semiconductor sector experienced a rebound, with Aixin Yuan Zhi rising over 15% and Tian Shuzi Xin increasing by more than 10% [1] Insurance Sector - Insurance stocks continued to weaken, with Prudential falling over 6%, and other companies like China Life, AIA, China Pacific Insurance, and China Taiping also experiencing declines [1] Gold and Precious Metals - The gold and precious metals sector showed low-level fluctuations, with companies such as Zijin Mining, Wan Guo Gold Group, and Shandong Gold experiencing declines [1] Capital Flow - Southbound funds recorded a net purchase of HKD 7.294 billion during the half-day session [1]

Group 1 - The A-share market is expected to experience a "red envelope" effect post-Spring Festival, with historical data showing a higher probability of gains after the holiday [1][6][7] - Various institutions suggest holding stocks during the holiday to capitalize on post-holiday capital inflows and policy catalysts, while some recommend a cautious approach with light positions to manage volatility [1][6] - Historical trends indicate that the A-share market tends to favor high-dividend, defensive sectors before the holiday, with a shift towards small-cap and growth sectors after [7][12] Group 2 - Goldman Sachs predicts a 20% increase in the MSCI China Index by the end of 2026, driven primarily by earnings growth supported by AI, overseas expansion, and anti-involution policies [3] - Five major capital flows are expected to support the market, including record net inflows from southbound funds, domestic asset reallocation, and significant share buybacks [3] - Foreign institutions anticipate a gradual diversification away from USD assets towards Chinese markets over the next 3 to 5 years, highlighting China's complete industrial chain and strong innovation capabilities [4] Group 3 - The average performance of the Shanghai Composite Index in the ten trading days following the Spring Festival is better than in the first five days, indicating a warming trend in the market [6][7] - Analysts emphasize the importance of the last trading day before the holiday as a key window for positioning, with expectations of a trend reversal starting in the last five trading days before the holiday [12] - The current market environment suggests a focus on both cyclical and growth sectors, with a recommendation to maintain a balanced portfolio that includes resource assets like gold [9][10]

2026.02. 13 本文字数：1092，阅读时长大约2分钟 作者 | 一财阿驴 11:31 A股午盘丨创业板指半日跌近1% 截至午盘，沪指跌0.7%，深成指跌0.67%，创业板指跌0.96%，科创综指涨0.34%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | ww 19 | 4105.04 | -28.98 | -0.70% | | 399001 | 深证成指 | Nº M | 14187.44 | -95.55 | -0.67% | | 399006 | 创业板指 | Non Ma | 3295.99 | -32.07 | -0.96% | | 000680 | 科创综指 | rest and | 1822.29 | 6.14 | 0.34% | 盘面上，油气、海运、黄金、基本金属、煤炭、化工板块跌幅靠前，CPO概念股回调。半导体、商 业航天、存储器、人形机器人题材活跃。 沪深两市半日成交额1.2万亿，较上个交易日缩量1256亿。全市场超2600只下跌。 11:26 上 ...

Investment Summary - The article discusses the increasing interest in investments among individuals due to low bank deposit rates and rising inflation, leading many to explore various investment avenues such as gold, stocks, and real estate [21][23]. Gold Investment - Gold emerged as the most profitable investment, yielding a floating profit of 22,387 yuan, with a significant price increase from around 700 yuan to 1,200 yuan per gram [2][5]. - The author experienced emotional turmoil during the price fluctuations, particularly during a rapid price increase, leading to a fear of missing out (FOMO) [6][8]. - Despite the initial success, the overall profit from gold investments was offset by subsequent expenditures on gold jewelry, indicating a complex relationship with the asset [9][10]. Stock Market Investment - The stock market investment strategy involved a diversified approach, including various indices and sectors, but resulted in minimal gains, with a floating profit of only 5,000 yuan [11][12]. - The author noted a pattern of volatility, where profits would quickly evaporate, leading to frustration and questioning the effectiveness of their investment strategy [15][18]. - The experience highlighted the challenges of managing a diverse portfolio and the emotional impact of market fluctuations [20]. Fund Investment - Fund investments yielded a floating profit of 1,800 yuan, with the author actively managing investments and monitoring market trends [20][24]. - The initial excitement of rising fund values was quickly dampened by significant market corrections, illustrating the unpredictability of fund performance [23][24]. - The author reflected on the time and effort spent managing fund investments, likening it to a second job [20]. Real Estate Investment - The decision to invest in real estate was driven by a desire to avoid significant losses, with a purchase price of 3.5 million yuan for a property in Beijing [26][28]. - The approach to real estate investment involved careful consideration of market conditions and property evaluations, aiming to minimize risks while enhancing living conditions [29][30]. - The narrative emphasizes the emotional and financial complexities of real estate investment, particularly in a fluctuating market [29][30].

Core Viewpoint - The article discusses the regulatory measures introduced by Shenzhen's financial authorities to standardize the gold market operations, mitigate market risks, protect consumer rights, and promote healthy market development [1]. Group 1: Prohibited Activities for Corporate Gold Business - The guidelines outline six prohibited activities for corporate gold businesses, including engaging in illegal gold trading activities such as pre-priced transactions, leveraged trading, and deferred transactions through internet platforms [3]. - Companies are prohibited from conducting illegal fundraising activities under the guise of gold custody, leasing, or repurchase that promise fixed returns [4]. - Engaging in unauthorized gold investment activities, such as misleading consumers into purchasing physical gold without actual delivery, is also banned [5]. - Companies must not use internet live streaming or other channels to illegally promote gold products or develop illegal trading software [5]. - Misrepresentation of membership in the Shanghai Gold Exchange or making misleading commercial claims is strictly forbidden [5]. - The use of non-precious metals to impersonate pure gold and other deceptive practices is prohibited [6]. Group 2: Prohibited Activities for Personal Gold Business - The guidelines specify two prohibited activities for personal gold businesses: participation in illegal gold pre-priced transactions and illegal fundraising or investment activities [8]. - Individuals are not allowed to develop or sell illegal gold trading software or provide support for such activities, but qualified investors can participate in gold ETFs and futures through legitimate channels [8]. Group 3: Prohibited Activities for Financial Institutions and Non-Bank Payment Institutions - Financial institutions are prohibited from conducting gold business without proper regulatory approval and must adhere to reporting requirements for large and suspicious transactions [10]. - These institutions must not provide services to merchants engaged in illegal operations or promote illegal gold activities [10]. Group 4: Legal Consequences - The article emphasizes that violations of these regulations may lead to legal consequences, including charges of illegal business operations, fraud, and money laundering, with potential criminal prosecution [11].