金融期货早评 宏观：美联储释放耐心信号 股指：美联储如期暂停降息，对 A 股影响有限 【市场资讯】1）国家能源局：截至 2025 年底全国累计发电装机容量 38.9 亿千瓦，同比增 长 16.1%。2）美联储 1 月议息：按下暂停键，维持利率在 3.5-3.75%区间，米兰和沃勒支 持降息 25BP；鲍威尔重申利率处于中性区间上端，政策没有预定路线，用数据说话。鲍威 尔还表示如果关税通胀触顶后回落，即表明可以放松政策，建议继任者远离政治。3）加拿 大央行宣布维持 2.25%基准利率不变。4）贝森特：特朗普可能在可能在一周公布美联储主 席人选。5）巴西央行将利率维持在 15%不变，表示将在下次会议上开始降息。6）加纳央 行行长：加纳央行已出售部分黄金储备以获取外汇。7）特朗普表达不担忧美元走弱后，贝 森特表示，美国长期奉行强势美元政策，还称绝对没有干预日元。8）特朗普警告对伊朗下 一次袭击将更严重，称后者时间不多了。伊朗常驻联合国代表团回应称，伊方愿在相互尊 重基础上与美对话。 【核心研判与传导逻辑】当前全球市场正处于"海外等待政策验证、国内等待需求修复"的 过渡阶段。海外方面，美联储最新 FOMC 议息会议维 ...

Core Viewpoint - The company, Tianqi Materials, has outlined its production capacity plans for lithium hexafluorophosphate (LiPF6) and lithium bis(fluorosulfonyl)imide (LiFSI), indicating significant future expansions in both areas [1]. Group 1: Production Capacity - The current annual production capacity of lithium hexafluorophosphate is approximately 110,000 tons, while the annual capacity for LiFSI is about 30,000 tons [1]. - The company plans to add approximately 40,000 tons of annual capacity for lithium hexafluorophosphate by 2026, with an additional 60,000 tons planned for completion in 2027 and 2028 [1]. - By the end of 2028, the annual production capacity for lithium hexafluorophosphate is expected to exceed 270,000 tons [1]. Group 2: Future Capacity Plans - For LiFSI, the company will add around 60,000 tons of annual capacity by 2026, aiming for a total annual capacity of approximately 90,000 tons by 2027 [1]. - The company's capacity planning will be adjusted based on market share targets, market demand, and changes in supply dynamics [1].

Core Viewpoint - The company, Meilian New Materials, has announced an expected net loss for the year 2025, contrasting sharply with the profit reported in the previous year [2] Financial Performance - The projected net loss attributable to shareholders for 2025 is estimated to be between 55 million to 79 million yuan, compared to a profit of 35.81 million yuan in the same period last year [2] - The net profit after excluding non-recurring gains and losses is expected to be a loss of 59 million to 83 million yuan, down from a profit of 33.33 million yuan in the previous year [2]

（编辑 楚丽君） 证券日报网讯 1月28日，龙蟠科技在互动平台回答投资者提问时表示，公司股价受到宏观经济环境、行 业竞争态势、市场情绪等多种因素的综合影响。公司管理层一直致力于提升公司的经营业绩和内在价 值，未来也会密切关注股价走势，并根据公司的实际情况和市场环境，适时采取合理的措施来维护股东 权益和提升公司市值。 ...

Core Viewpoint - The company announced the establishment of a wholly-owned subsidiary to implement industrialization projects for spinning oil agents and LCP resin [1] Group 1 - The company will hold the seventh meeting of the ninth board of directors on January 24, 2026, to review the investment proposal [1] - The subsidiary will be set up in the Haining Economic Development Zone (Jianshan) Chemical New Materials Park [1] - The company has completed the registration of the wholly-owned subsidiary and obtained a business license [1]

Core Viewpoint - The company, Jiaheng Jiahua, is forecasting a significant net loss for the year 2025, with expected losses ranging from 29 million to 39 million yuan for net profit attributable to shareholders, and from 32 million to 42 million yuan for net profit after deducting non-recurring gains and losses [1] Group 1: Financial Performance - The company anticipates a decline in net profit due to increased fixed operating costs, including depreciation and amortization from its wholly-owned subsidiary, Huzhou Jiaheng Industrial Co., Ltd., which has led to a decrease in sales gross margin compared to the previous year [1] - The company has experienced an increase in management expenses due to rising employee compensation and fixed asset depreciation to support the business development needs of Huzhou Jiaheng Industrial Co., Ltd. [1] - Financial expenses have also risen year-on-year, primarily due to an increase in bank borrowing and a reduction in interest capitalization during the reporting period [1]

证券日报网1月28日讯，兴欣新材（001358）在接受调研者提问时表示，公司积极开拓哌嗪及其衍生物 系列新产品、新应用。其中，公司更看好公司产品在环保化学品、电子化学品的发展前景。在环保化学 品领域，随着二氧化碳捕集与封存(CCUS)项目在国内陆续开展，公司的哌嗪衍生物将助力碳捕集绿色 高效溶剂的加速发展，开发和生产以哌嗪环为主体新型金属螯合剂和无卤阻燃剂等绿色化工产品，为下 游水处理和阻燃行业提供新的更好的替代产品。公司开发的脱硫脱碳剂作为新兴的、性能优异的环保溶 剂，未来发展前景广阔。在电子化学品领域，公司掌握了多项核心技术，公司生产的N-羟乙基哌嗪、 N，N-二甲基丙酰胺等产品已具有行业领先的产品性能，能够满足超净高纯试剂对精细化学品的纯度要 求。未来，随着电子化学品国产替代和自研技术的推进，使用哌嗪作为原料之一的技术路线有望得到开 发与发展。 ...

主要是受市场环境及公司基于长远发展战略考量开发布局新牌号产品等因素影响，公司主营产品毛利率 阶段性承压；产品切换阶段需要对生产流程进行适应性调整，一定程度上制约了当期产量释放；子公司 浙江长鸿生物材料有限公司为提升装置生产效率而实施的停工技改周期较长，对产量造成阶段性影响； 同时，相关项目投资亦增加了公司的财务成本等因素综合影响所致。2025年度，面对严峻的行业形势， 公司管理层积极应对，基于公司行业地位与技术积淀，不断加强研发创新和市场开拓，深入挖潜降本增 效，营业收入增长明显。 格隆汇1月28日丨长鸿高科(605008.SH)公布，经财务部门初步测算，预计2025年年度实现归属于上市公 司股东的净利润150.00万元到200.00万元，同比减少97.88%到98.41%。预计2025年年度归属于上市公司 股东的扣除非经常性损益的净利润-1,500.00万元到-2,200.00万元，同比减少121.82%到132.00%。 ...

长鸿高科公告，预计2025年年度实现归属于上市公司股东的净利润150万元到200万元，与上年同期相 比，将减少9222.29万元到9272.29万元，同比减少97.88%到98.41%。预计2025年年度归属于上市公司股 东的扣除非经常性损益的净利润-1500万元到-2200万元，与上年同期相比，将减少8374.97万元到 9074.97万元，同比减少121.82%到132.00%。 ...

南财智讯1月28日电，宝莫股份发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为 2591万元—3883万元，同比预减31.14%—54.06%；预计2025年全年归属于上市公司股东的扣除非经常 性损益的净利润为2185万元—3275万元，同比预增422.23%—682.74%。业绩变动原因说明：报告期 内，公司扣除非经常性损益后的净利润变动，主要是公司化学品业务销量较上年同期增加，主营业务收 入较上年同期增长；同时，公司全资子公司成都宝莫矿业有限公司于本报告期内收回在上年同期已确认 的应收股权转让款。 ...