zhanggang@ccnew.com 021-50586990 航天传媒行业领涨 A 股小幅上行 ——市场分析 分析师：张刚 登记编码：S0730511010001 相关报告 《市场分析：成长行业领涨 A 股震荡上行》 2026-02-09 《市场分析：电池电子行业领涨 A 股先抑后 扬》 2026-02-06 《市场分析：金融消费行业领涨 A 股小幅震 荡》 2026-02-05 联系人： 李智 电话： 0371-65585629 地址： 郑州郑东新区商务外环路10号18楼 地址： 上海浦东新区世纪大道 1788 号 T1 座 22 楼 证券研究报告-市场分析 发布日期：2026 年 02 月 10 日 投资要点： ◼ A 股市场综述 周二（02 月 10 日）A 股市场冲高遇阻、小幅震荡上行，早盘股指高 开后震荡上行，盘中沪指在 4134 点附近遭遇阻力，午后股指维持震 荡，盘中文化传媒、游戏、航天航空以及医疗服务等行业表现较 好；贵金属、珠宝首饰、光伏设备以及能源金属等行业表现较弱， 沪指全天基本呈现小幅震荡上扬的运行特征。创业板市场周二震荡 回落，创业板成分指数全天表现弱于主板市场。 ◼ 后市研判及 ...

Core Viewpoint - The data indicates significant outflows of capital from various stocks, with the top 20 stocks experiencing substantial withdrawals, highlighting potential concerns in the respective sectors [1][2][3] Group 1: Stock Performance and Capital Outflow - GCL-Poly Energy saw a capital outflow of 1.342 billion yuan, despite a price increase of 2.58% [2] - Lightway Technology experienced a capital outflow of 853 million yuan, with a decline of 1.71% [2] - Xinwei Communication had a capital outflow of 837 million yuan, with a drop of 3.66% [2] - Shanshan Co. faced an outflow of 827 million yuan, down 4.24% [2] - Tianfu Communication saw an outflow of 817 million yuan, with a decrease of 2.84% [2] - Zhongchao Holdings had a significant outflow of 780 million yuan, down 6.14% [2] - Contemporary Amperex Technology experienced a capital outflow of 701 million yuan, with a slight decline of 1.07% [2] - BlueFocus Communication saw an outflow of 687 million yuan, with a minor increase of 0.5% [2] - Aerospace Electronics faced an outflow of 679 million yuan, down 3.03% [2] - 360 Security Technology had a capital outflow of 672 million yuan, with a rise of 1.24% [2] - Western Materials experienced an outflow of 656 million yuan, down 6.78% [3] Group 2: Additional Stock Details - China Satellite had a capital outflow of 616 million yuan, with a decline of 1.79% [3] - Shunhao Co. faced an outflow of 604 million yuan, down 7.65% [3] - Aerospace Development saw an outflow of 584 million yuan, with a decrease of 4.48% [3] - Qianzhao Optoelectronics experienced an outflow of 538 million yuan, down 5.94% [3] - Wuzhou New Spring had a capital outflow of 524 million yuan, with an increase of 6.29% [3] - Robot Technology faced an outflow of 521 million yuan, down 5.81% [3] - Longi Green Energy saw an outflow of 507 million yuan, with a decline of 1.93% [3] - Kweichow Moutai experienced a capital outflow of 499 million yuan, down 1.45% [3] - JuLi Rigging faced an outflow of 475 million yuan, down 6.86% [3]

Core Viewpoint - The data indicates significant outflows of capital from various stocks, with the top 20 stocks experiencing substantial withdrawals, highlighting potential concerns in investor sentiment and market dynamics [1][2][3] Group 1: Major Stocks with Capital Outflows - GCL-Poly Energy saw the largest outflow of -1.009 billion yuan, indicating a negative trend in the photovoltaic equipment sector [1][2] - Soshine Technology experienced an outflow of -679 million yuan, reflecting challenges in the electronic components industry [1][2] - 360 Security Technology had a capital outflow of -649 million yuan, suggesting potential issues in the software development sector [1][2] Group 2: Additional Stocks with Notable Withdrawals - Tianfu Communication faced an outflow of -561 million yuan, indicating pressures in the communication equipment sector [1][2] - Aerospace Development reported a capital outflow of -530 million yuan, which may reflect broader concerns in the aerospace and defense industry [1][2] - Kweichow Moutai experienced an outflow of -428 million yuan, raising questions about the performance in the liquor industry [1][3]

Core Viewpoint - The data indicates significant outflows of main funds from various stocks, highlighting potential concerns in specific sectors and companies [1][2][3] Group 1: Stock Performance and Fund Flow - GCL-Poly Energy experienced a fund outflow of 1.151 billion yuan with a price increase of 3.77% [2] - Tianshu Communication saw a fund outflow of 816 million yuan with a price decrease of 4.65% [2] - Guangku Technology had a fund outflow of 763 million yuan and a price drop of 3.46% [2] - Shanshan Co. faced a fund outflow of 749 million yuan with a decline of 1.96% [2] - Western Materials reported a significant fund outflow of 735 million yuan and a price decrease of 8.52% [2] - Zhongchao Holdings had a fund outflow of 688 million yuan with a price drop of 6.05% [2] - BlueFocus Communication experienced a fund outflow of 666 million yuan and a price increase of 2.36% [2] - XW Communications saw a fund outflow of 665 million yuan with a price decrease of 4.11% [2] - 360 Security Technology had a fund outflow of 626 million yuan and a price increase of 1.94% [2] - Aerospace Development faced a fund outflow of 596 million yuan with a price drop of 5.67% [2] - China Satellite experienced a fund outflow of 539 million yuan with a price decrease of 2.37% [3] Group 2: Additional Stock Details - Aerospace Electronics had a fund outflow of 525 million yuan with a price drop of 3.98% [3] - Shunhao Co. reported a fund outflow of 518 million yuan and a significant decline of 9.67% [3] - Robot Technology faced a fund outflow of 496 million yuan with a price decrease of 6.67% [3] - Qianzhao Optoelectronics had a fund outflow of 491 million yuan and a price drop of 6.5% [3] - Yongding Co. experienced a fund outflow of 481 million yuan with a price decrease of 1.43% [3] - Julite Equipment reported a fund outflow of 476 million yuan and a price drop of 6.16% [3] - Shenghe Resources had a fund outflow of 463 million yuan with a price increase of 2.1% [3] - China Duty Free Group faced a fund outflow of 454 million yuan with a price decrease of 3.08% [3] - Wuzhou New Spring reported a fund outflow of 444 million yuan with a price drop of 2.04% [3]

当地时间2月8日，SpaceX创始人马斯克在社交平台X发帖称，"SpaceX已经将重心转移至在月球上建造 一座可自我扩张的城市上，因为我们有望在10年内实现这一目标，而前往火星则需要20年以上"。 马斯克补充表示，前往火星的时机仅限于每26个月一次的行星连珠（航程6个月），而登月发射周期可 缩短至每10天一次（航程2天）。他表示，这意味着月球城市的建设迭代速度远快于火星城市。 "尽管如此，SpaceX仍将致力于建设火星城市。"马斯克称，其计划在5至7年内启动相关工作。 此外，有消息称SpaceX正在奥斯汀和西雅图招聘工程师，以开发人工智能卫星和太空数据中心。马斯 克转发相关帖子并回复称：是真的。 据媒体此前报道，马斯克本月2日称，SpaceX公司收购同属马斯克名下的人工智能初创企业xAI公司， 他旗下两家企业"合二为一"。 有分析认为，马斯克合并这两家前沿技术企业，是布局"星际AI"的关键一步。 2月7日，据《华尔街日报》报道，SpaceX已推迟原计划于今年进行的火星任务，转而专注于承诺已久 的美国宇航局（NASA）登月飞行上。 事实上，SpaceX的这一战略转向并非毫无征兆。2026年原本被视为火星无人探测 ...

Core Insights - The report indicates a cautious market sentiment ahead of the Spring Festival, with a focus on individual stock plays and structural rotations, suggesting that opportunities will arise from quick stock trading and sector rotations rather than a clear trend [1][13][14] - The market is expected to exhibit a "seek stability before the festival, rebound after" rhythm, with defensive sectors like consumption and dividend stocks likely to attract attention before the holiday, while post-holiday focus may shift to small-cap growth stocks and sectors with clear industrial catalysts [1][13][14] Market Overview - Last Friday, the three major indices in the A-share market opened lower but rebounded to close in the green during the morning session, only to fall back in the afternoon, continuing the recent adjustment trend [4][5] - The chemical, battery, and mining sectors showed strength, while consumer and AI-related stocks experienced a collective pullback, indicating a structural rotation in the market [1][4][13] Sector Performance - The report highlights that cyclical sectors like chemicals and energy metals have been active, driven by ongoing domestic policies aimed at stabilizing growth and improving economic supply-demand dynamics [7][8] - The new energy sector, particularly battery and photovoltaic stocks, has shown resilience, supported by global trends towards carbon neutrality and domestic policy reforms aimed at reducing competition in these fields [8][9] - Consumer stocks have also been active, with government policies aimed at stimulating consumption creating structural investment opportunities, particularly in sectors catering to demographic trends and service consumption upgrades [10][11] Investment Strategy - Investors are advised to balance stability and flexibility in their strategies, focusing on consumption and dividend stocks before the festival while preparing for potential growth opportunities post-festival [2][14] - The report emphasizes the importance of timing in the current volatile market, suggesting that investors should be ready to adapt to changing market rhythms [2][14]

每经记者｜杨建 每经编辑｜肖芮冬 ｜2026年2月9日 星期一｜ NO.3 特斯拉据悉正在美布局多州建厂，以扩张太阳能电池制造版图 2月7日，据知情人士透露，特斯拉正评估美国多个选址，计划扩大太阳能电池制造业务，目标在未来三 年内实现每年100吉瓦的太阳能制造能力。知情人士补充称，特斯拉计划扩大纽约州布法罗工厂产能至 10吉瓦，并可能在纽约州建设第二座工厂，亚利桑那州和爱达荷州也在备选名单中。 NO.4 美"猎鹰9"火箭获准复飞，将执行"龙"飞船载人发射任务 美国联邦航空局2月6日称，对美太空探索技术公司的"猎鹰9"火箭相关任务异常的调查已结束。调查确 认，该事件未造成人员伤亡或公共财产损失，美联邦航空局已批准"猎鹰9"火箭恢复飞行。该火箭将按 期执行最新一期"龙"飞船载人发射任务。 NO.5 中国"海底空间站"成功应用 据中国铁建消息，中国"海底空间站"成功应用。2月6日上午，世界最长海底高铁隧道迎来新进展，历经 22天作业，国产首台盾构饱和带压进仓设备"深海空间站"，在中铁十四局承建的甬舟铁路金塘海底隧道 宁波侧完成"首秀"，成功实施75米深高压环境盾构进仓作业，累计换刀46把，标志着我国自主研发盾构 饱 ...

Core Viewpoint - The Shenzhou-21 crew, consisting of astronauts Zhang Lu, Wu Fei, and Zhang Hongzhang, has been on a space mission for over three months, continuing various experiments and environmental monitoring aboard the Chinese space station [1]. Group 1: Space Science Experiments - In the field of space medicine, the crew has completed blood sample collection and processing, which will be used to study the physiological changes and adaptation mechanisms of astronauts' skeletal, neural, and cerebrovascular systems during long-duration flights [2]. - The crew is conducting experiments on the effects of microgravity on visual asymmetry and its cognitive neural mechanisms using a laptop [4]. - Ongoing experiments in the field of microgravity physical sciences are being carried out [4]. Group 2: Environmental Monitoring - The crew is monitoring the thermal environment inside the station and conducting air cleanliness tests using equipment such as dew point meters [5]. Group 3: Health Management - Health management includes the use of an adhesive device to stimulate lower limb flexor muscles during exercise in a weightless environment, fulfilling exercise requirements [6]. - The crew has completed multiple medical checks, including intraocular pressure and fundus examinations, as well as overall visual function measurements and orbital B-scan measurements [6].

Domestic Finance - The People's Bank of China and seven other departments issued a notice to further prevent and address risks related to virtual currencies, stating that any losses incurred by individuals or entities investing in virtual currencies and related financial products will be borne by themselves [2][3] - As of January 2026, China's gold reserves reached 74.19 million ounces, marking a continuous increase for the 15th month [7] - The total scale of ETFs in China reached $860 billion, maintaining its position as the largest ETF market in Asia [8] Capital Market - The Shanghai Gold Exchange adjusted the margin levels and price limits for certain contracts, increasing the margin for Au (T+D) contracts from 17% to 18% and for Ag (T+D) contracts from 23% to 24% [9] - Guotou Ruijin Fund established a working group to address investor concerns regarding the silver LOF fund, emphasizing a commitment to investor rights [10] International Finance - Tesla is reportedly evaluating multiple sites in the U.S. to expand its solar battery manufacturing capabilities, aiming for an annual production capacity of 100 gigawatts within three years [11] - SpaceX has postponed its Mars exploration mission originally scheduled for this year, prioritizing a lunar landing by March 2027 [12]

被美国寄予厚望的阿尔忒弥斯2号载人绕月飞行任务原定于2月6日发射，但由于天气因素，这一计划被迫推迟至2月8日。然而，随着2月2日湿式彩排的进 行，情况出现了不小的波折。在这次彩排中，工作人员为太空发射系统（SLS）火箭加注推进剂并模拟发射倒计时，然而在推进剂加注的过程中，意外发 生了——推进剂泄漏了。面对这一突发状况，NASA不得不宣布暂停原定的载人绕月飞行任务，将其推迟至3月。 尽管阿尔忒弥斯1号的任务最终顺利发射，但从当时的情形来看，这个问题显然并未得到彻底解决。而今，阿尔忒弥斯2号任务将搭载四名宇航员前往月球 轨道，相比于不载人的阿尔忒弥斯1号，这一次的风险和责任无疑大大加重。因此，NASA决定在问题彻底解决之前，绝不冒险发射。毕竟，四名宇航员 的生命安全不能容忍任何疏漏。 尽管NASA宣布将任务推迟至3月，但仍然不排除进一步推迟的可能性。回顾2022年阿尔忒弥斯1号的准备阶段，火箭燃料泄漏问题也曾让任务推迟了超过 6个月。阿尔忒弥斯2号任务比阿尔忒弥斯1号更加复杂，涉及到更多的技术环节与人员配备，因此，解决现有问题的时间压力可想而知。 目前，NASA的时间窗口是2月至4月，若继续拖延，可能会错失这个关 ...