昨日三大指数集体收涨，沪指高开高走，再创十年新高。量能持续放大，沪深两市成交额2.81万亿，较 上一个交易日放量2602亿。盘面上，市场热点轮番活跃，全市场超4100只个股上涨，其中有143只个股 涨停，连续两日超百股涨停。从板块来看，商业航天概念持续爆发，脑机接口概念延续强势，化工板块 走高；截至收盘，沪指涨1.5%，深成指涨1.4%，创业板指涨0.75%。 商务部加强两用物项对日本出口管制，如果日本厂商的生产因出口管制而受到冲击，直接利好中国氧化 锆粉体厂商加速出海扩大市场份额，同时日本氧化锆厂商的客户也将受到影响，利好对应的中国同行获 取市场份额。 开源证券：脑机接口产业落地有望提速 马斯克在社交媒体上宣布脑机接口公司Neuralink今年将开启"大规模量产"，并转向更精简、全自动化的 外科手术流程。与此同时，脑机接口作为国内十五五规划明确布局的未来产业，政策也在持续加码，中 国的脑机接口公司正在加速临床，并呈现多种技术路线并行的格局。一场集体"插脑"竞赛进入冲刺阶 段。全球脑机接口领域竞争激烈，随着政策、技术与临床进展、想象力三重动力共振，A股市场脑机接 口概念板块火热，行情持续发酵。多重政策强力支持 ...

Core Viewpoint - The A-share market has set two historical records on January 6, with the Shanghai Composite Index closing at 4083.67 points, marking a nearly ten-year high, and achieving a record 13 consecutive trading days of gains, breaking a 33-year-old record [1][3][19]. Market Performance - On January 6, all three major A-share indices rose, with the Shanghai Composite Index up by 1.50%, the Shenzhen Component Index up by 1.4%, and the ChiNext Index up by 0.75% [3][19]. - The market volume reached 2.83 trillion yuan, indicating strong buying enthusiasm among investors [2][17]. - The brain-computer interface sector saw a surge, with nearly 20 stocks hitting the daily limit, while the commercial aerospace sector also performed well, with several stocks reaching their daily limit [3][19]. Fund Inflows - The main driving force behind the current market rally is the continuous inflow of funds from insurance, financing, and foreign investments [2][18]. - As of January 5, 2026, the financing balance reached 2.54 trillion yuan, a historical high, while insurance funds allocated to stocks and funds increased by 1.49 trillion yuan since the beginning of the year [8][23]. - The market anticipates significant inflows from financial institutions due to the "opening red" effect, with a large amount of new premium funds available for market allocation [6][22]. Sector Performance - On January 6, sectors such as non-ferrous metals, non-bank financials, basic chemicals, and defense industries led the market [4][20]. - The Wenke Brain-Computer Interface Theme Index surged by 12.97%, while the Commercial Aerospace Theme Index rose by 9.49% over the first two trading days of 2026 [3][19]. Investment Strategies - Institutions recommend a balanced allocation strategy in response to the market's historic performance, focusing on sectors such as AI, resilient external demand, domestic consumption, and high dividend stocks [11][27]. - The "dumbbell strategy" is suggested, emphasizing technology growth sectors like AI and semiconductors for offensive positions, while defensive positions should focus on cyclical assets like non-ferrous metals and chemicals [27][29]. - Investors are advised to avoid short-term speculation and focus on long-term industry directions and value from dividend assets [29].

智通财经1月7日讯，昨日三大指数集体收涨，沪指高开高走，再创十年新高。量能持续放大，沪深两市 成交额2.81万亿，较上一个交易日放量2602亿。盘面上，市场热点轮番活跃，全市场超4100只个股上 涨，其中有143只个股涨停，连续两日超百股涨停。从板块来看，商业航天概念持续爆发，脑机接口概 念延续强势，化工板块走高；截至收盘，沪指涨1.5%，深成指涨1.4%，创业板指涨0.75%。 在今日券商晨会上，中信建投认为，人形机器人板块处于底部反弹阶段；中信证券认为，商务部加强两 用物项对日本出口管制，看好氧化锆的投资机会；开源证券认为，脑机接口产业落地有望提速。 中信建投：人形机器人板块处于底部反弹阶段 预期上修有待新催化或量产进展验证 中信证券：商务部加强两用物项对日本出口管制，看好氧化锆的投资机会 商务部加强两用物项对日本出口管制，如果日本厂商的生产因出口管制而受到冲击，直接利好中国氧化 锆粉体厂商加速出海扩大市场份额，同时日本氧化锆厂商的客户也将受到影响，利好对应的中国同行获 取市场份额。 开源证券：脑机接口产业落地有望提速 马斯克在社交媒体上宣布脑机接口公司Neuralink今年将开启"大规模量产"，并转向更 ...

Group 1: Data Standards and Regulations - The National Bureau of Statistics announced that by 2026, China will introduce over 30 national standards in the data field, focusing on emerging areas such as intelligent agents and embodied intelligence [2] - The development of standards for public data, high-quality datasets, and data infrastructure will be accelerated, along with key standards for urban digital transformation and a national integrated computing network [2] - In 2025, China developed 48 national standards and technical documents in the data field, with over one-third undergoing simultaneous validation trials during the drafting process [2] Group 2: Technology Developments - Huang Renxun stated at CES that server racks equipped with the new Rubin chip can be cooled without water cooling systems, requiring airflow similar to that of racks with Blackwell chips [3] - Following Huang's comments, data center cooling concept stocks experienced significant declines, with companies like Johnson Controls and Trane Technologies dropping by 10% and Modine by 20% [3] Group 3: Financing and Investment - XAI announced it raised $20 billion in its E round of financing, surpassing its $15 billion target, with strategic investors including Nvidia and Cisco [4] - Qiang Brain Technology, a brain-computer interface "unicorn," completed approximately 2 billion yuan in financing, making it the second-largest financing in the brain-computer interface field after Neuralink [5] Group 4: Market Trends - Two listed companies in lithium iron phosphate confirmed price increases of 1,500 to 2,000 yuan per ton for major clients [6] - Companies like Xiangyu Medical and Weisi Medical are focusing on non-invasive brain-computer interface technologies, but have not achieved large-scale sales as of the end of 2025 [7][8] - Micron's products in the brain-computer interface field are still in the research and market cultivation phase, with no significant impact on company performance yet [9] Group 5: Corporate Actions - Chip Origin announced the completion of the acquisition of Zhudian Semiconductor, with a new registered capital of 9.5 billion yuan, making it the largest shareholder [11] - Shengke Communication's second-largest shareholder plans to reduce its stake by up to 3% through trading methods [12] - Yandong Micro's fourth-largest shareholder reduced its stake from 6.08% to 6.00% as part of a previously disclosed plan [13]

近日，我国首家专注于超声波脑机接口技术的创新企业——格式塔科技有限公司（以下简称"格式塔科 技"）在位于四川成都的天府国际生物城成立。该公司运用超声波及相控阵技术，开辟了脑机接口领域 的全新技术路径。 当前，脑机接口技术路径主要分为侵入式、半侵入式和非侵入式3种。区别于传统电学侵入式技术，非 侵入式超声波脑机接口技术优势明显。 "传统侵入式技术需要在颅骨上开孔植入电极，而超声波脑机接口通过经颅聚焦超声及相控阵技术，可 在颅内特定位置形成聚焦焦点，无需开颅即可对大脑功能进行调控。"格式塔科技创始人、首席执行官 彭雷说。 同时，超声波脑机接口技术还可通过超快超声成像，实现高时空分辨率全脑信号监测。"临床多数中枢 神经系统相关病症，如慢性疼痛、抑郁症、阿尔茨海默病等，病理机制涉及全脑多区域神经环路的协同 异常，超声波脑机接口是目前最有可能具备全脑读写能力的技术方向。"彭雷补充。 谈到超声波脑机接口技术的应用场景，彭雷表示，公司计划分多个代系推进产品形态：第一代是台架式 设备，第二代是可穿戴式设备，最终将迭代至半植入式设备。"我们的首款产品聚焦于慢性疼痛管理， 目前正在进行临床试验，预计今年底启动国家药品监督管理局注 ...

盘前要闻 1、央行明确2026年重点工作！继续实施适度宽松的货币政策，专家解读 类型：市场 类型：宏观 情绪影响：正面 2026年央行工作会议1月5日-6日召开。会议提到，要继续实施好适度宽松的货币政策，灵活高效运用降 准降息等货币政策工具。专家判断，2026年央行将主要依靠MLF和买断式逆回购向市场注入中期流动 性，引导金融资源更多流向科技创新、制造业升级、促消费等国民经济重点领域和薄弱环节。 2、涉及商业航天、脑机接口，热门股齐发公告!两大牛股停牌核查 类型：市场 情绪影响：中性 1月6日晚，北斗星通、航天环宇、三博脑科、翔宇医疗等多只商业航天、脑机接口概念的热门股齐发公 告，停牌核查或提示风险。其中，国晟科技和16天12板的嘉美包装因短期内股价涨超200%，自1月7日 开市起停牌核查。并提示当前存在市场情绪过热、非理性炒作风险，股票击鼓传花效应明显。 3、道指、标普齐创新高!黄仁勋讲话点燃芯片与存储股，闪迪大涨27% 情绪影响：正面 美股周二收高，由于AI热潮下存储芯片严重短缺引爆涨价潮，道指、标普500指数均创历史收盘新高。 英伟达CEO黄仁勋在CES上披露新一代AI处理器细节，并强调将引入一层新的存 ...

Core Viewpoint - The A-share market has achieved significant milestones, with the Shanghai Composite Index closing at 4083.67 points, marking a ten-year high and a record 13 consecutive days of gains, indicating strong investor confidence and a potential shift towards a balanced bull market in 2026 [1][3][7]. Market Performance - On January 6, all three major A-share indices rose, with the Shanghai Composite Index up 1.50%, surpassing last year's high and achieving a new ten-year peak [3]. - The market saw a trading volume of 2.83 trillion yuan, reflecting heightened investor enthusiasm [1]. - The brain-computer interface sector experienced a surge, with nearly 20 stocks hitting the daily limit, while the commercial aerospace sector also saw significant gains [3]. Sector Analysis - Key sectors leading the market included non-ferrous metals, non-bank financials, basic chemicals, and defense industries, driven by expectations of global supply chain restructuring and strong performance in the insurance and brokerage sectors [4][6]. - The Wenke Brain-Computer Interface Index rose by 12.97%, and the Commercial Aerospace Index increased by 9.49% in the first two trading days of 2026 [3]. Fund Flow and Investment Strategies - There is a strong expectation for capital inflow into the market, particularly from insurance companies, which saw a significant increase in new premium funds available for market allocation [5][6]. - As of September 2025, insurance funds allocated to stocks and funds reached 5.59 trillion yuan, an increase of 1.49 trillion yuan since the beginning of the year [6]. - The financing balance reached a historical high of 2.54 trillion yuan on January 5, 2026, indicating robust market liquidity [6]. Future Market Outlook - Analysts predict a transition from valuation-driven growth in 2025 to profit-driven growth in 2026, with a more balanced market style emerging [7]. - The market is expected to maintain an upward trend, supported by macroeconomic recovery, with key sectors such as technology, consumer goods, and new energy likely to see rotation and valuation recovery [7][9]. Investment Recommendations - Investment firms suggest a balanced allocation strategy, focusing on growth sectors like AI, while also considering defensive assets such as non-ferrous metals and chemicals [11][12]. - Emphasis is placed on long-term investment in sectors with strong fundamentals, avoiding short-term speculative trading [11][12].

1月6日晚，亚辉龙（688575）披露近日与深圳脑机星链科技有限公司（简称"脑机星链"）签署战略合作框架协议。当晚，上交所对公司下发问询函。 公司当晚补充披露，合作方脑机星链目前在研产品的技术路线为非侵入式技术路径，与马斯克创建的脑机接口公司Neuralink在技术路线上存在本质区别， 目前也尚无侵入式技术布局。 合作方成立不到半年 股价提前异动 1月6日晚，亚辉龙公告，公司与脑机星链签署《战略合作框架协议》。合作内容包括，通过公司在急诊、脑疾病诊断、儿科等领域强大的销售渠道为脑机 星链脑机接口现有及在研产品的市场拓展及销售进行全方位赋能，合作产生的销售收入按照双方后续协议比例进行分成。结合公司在儿科、脑神经疾病、 代谢等方向强大的专家、学术资源以及脑机星链在脑机接口领域优秀技术团队及研发实力，加强研发合作。双方一致同意，经双方有权机构批准，同等条 件下优先选择对方进行资本和股权层面的合作。该协议为框架性协议，不涉及具体金额，预计对公司本年度经营业绩不构成重大影响。 据亚辉龙公告，公司为体外诊断产品提供商，主营业务为以化学发光免疫分析法为主的体外诊断仪器及配套试剂的研发、生产和销售。 脑机星链成立于2025年 ...

Group 1: Stock Market Performance - The brokerage sector has collectively risen, with the non-bank financial sector up by 3.73% as of January 6, 2026, benefiting from the spring market and public fund reforms [1] - The A-share market has shown strong performance, with all three major indices rising, and the Shanghai Composite Index achieving a "thirteen consecutive days" increase, reaching a ten-year high [1] - The total market capitalization of A-shares has surpassed 122 trillion yuan, setting a new historical record, with a trading volume of 2.83 trillion yuan on January 6 [1] Group 2: Human-shaped Robot Industry - The human-shaped robot sector is gaining attention, with a 12.92% increase in the human-shaped robot concept index since December 17, 2025 [2] - Analysts believe the market for embodied robots has significant growth potential, with continuous technological breakthroughs and successful commercialization [2] Group 3: Monetary Policy and Economic Outlook - The People's Bank of China has outlined seven key priorities for 2026, emphasizing the use of various monetary policy tools to support economic stability and high-quality development [3] - The central bank aims to enhance financial services for the real economy and improve macroeconomic policy coordination [3] Group 4: Commercial Aerospace and Satellite Internet - The commercial aerospace sector has seen a surge in stock prices, with leading companies experiencing significant gains, such as China Satellite up over 165% [4] - Analysts recommend focusing on core suppliers within the industry chain, including satellite assembly and key component suppliers [4] Group 5: New Account Openings in A-shares - In December 2025, the Shanghai Stock Exchange reported 2.5967 million new A-share accounts, a 9% increase from the previous month and a 30.55% year-on-year growth [5] - The monthly new account openings showed a wave-like trend throughout 2025, with peaks and troughs reflecting market conditions [5] Group 6: Solid-State Battery Industry - The solid-state battery sector is gaining traction, with significant interest following the announcement of the world's first mass-producible solid-state battery at CES 2026 [7] - The industry is undergoing a transformation towards value competition, focusing on technology and performance rather than just scale [7] Group 7: Brokerage Asset Management - The asset management business of brokerages has shown steady growth, with private asset management scale reaching 5.8 trillion yuan by the end of November 2025 [8] - Brokerages are increasingly focusing on research capabilities and exploring differentiated development paths in asset management [8]

转自：证券时报 在A股市场持续走强并刷新10年新高的同时，中证转债指数1月6日也攀升走高，创下自2015年6月以来 的逾10年高点。 中证转债指数近期表现不仅延续了自2025年以来的强势格局，更凸显其在权益市场波动中"进可攻、退 可守"的独特价值。 中证转债指数刷新逾10年高点 1月6日，在权益市场强势走高，并刷新10年新高的背景下，中证转债指数也大涨1.35%，报505.77点， 创2015年6月以来高点。 此次行情的核心催化剂是脑机接口行业的商业化突破。特斯拉CEO埃隆·马斯克于2025年12月31日宣 布，旗下脑机接口公司Neuralink将于2026年启动设备大规模生产，并推进几乎完全自动化的手术方案。 这一表态被市场视为脑机接口从实验室走向大众消费的关键转折点。与此同时，国内政策支持力度持续 加码：国家药监局近期召开脑机接口医疗器械工作推进会，明确将加快相关产品审评审批流程；上海等 地出台专项行动方案，提出到2027年推动5款以上侵入式、半侵入式产品完成临床试验。 除塞力转债外，嘉美转债、联创转债等亦表现亮眼。嘉美包装股价大涨带动嘉美转债在1月5日涨 10.94%后，1月6日再度上涨14.95%，2 ...