来源：中信建投证券 一、往期观点回顾 在上期策略中我们提到，下周A股料将震荡走稳，结构分化将进一步加剧。春节效应下，尽管节前资金心态 偏谨慎，但充裕的流动性仍为市场提供支撑，成长风格有望逐步回暖，不过板块轮动仍会较快。当前市场核 心逻辑围绕政策托底、业绩分化与流动性充裕展开，资金正向低估值蓝筹、业绩预增股及政策主线聚拢。操 作上，可保留核心仓位把握结构机会，同时警惕业绩暴雷、解禁减持等带来的回调风险，控制仓位逢低布 局。配置可聚焦三大主线：资源周期板块、科技成长赛道及消费基建领域，各主线均有明确的利好支撑与细 分布局方向。 二、一周市场回顾及走势分析 （一）市场整体表现 本周指数出现防御类风格企稳叠加成长类调整，且前期热点方向回落较明显，创业板指调整幅度较大。（见 图1） 图1： 资料来源：中信建投通达信 （二）板块表现 从行业板块表现来看，本周食品饮料、家庭用品和银行涨幅靠前。（见图2） 图2： 资料来源：wind资讯 从概念板块涨幅来看，本周市场白酒、饮料制造、银行等表现靠前。（见图3） 图3： 融资融券余额方面，最近两融余额小幅回落迹象。（见图4） 图4： 资料来源：wind资讯 （三）宏观经济数据 1 ...

转自：智通财经 智通财经2月7日讯（记者高艳云）2026年伊始，港股IPO市场仍保持高速态势。 今年以来，港股IPO融资额高达675.5亿元，同比增1029.23%，尚处于聆讯处理中的企业高达376家。就 此，甚至由此引发市场对IPO"堰塞湖"现象的担忧，但令人欣喜的是，港交所明确表示已安排足够人手 及资源，并称有信心保持40个工作日内完成审核并提供两轮意见的服务承诺。 中资券商在IPO保荐、承销两业务中均保持领先地位，其中中金公司位居年内港股IPO上市保荐、承销 两业务的冠军地位，华泰金控(香港)与中金香港在承销业务中断层领先其他券商；中金香港与中信香港 分别在聆讯处理中的项目分别多大103个、102个，各自占据近三成市场份额，优势显著。 开年IPO融资激增逾10倍 Wind数据统计显示，截至2月6日，港股股权融资总额880.15亿元，同比增614.95%，数量为84起，同比 增71.43%。 其中IPO融资总额为675.50亿元，同比增1029.23%，上市家数达18家，同比增125%；配售总额为181.98 亿元，同比增239.24%，数量为49起，同比增58.06%；供股总额为10.63亿元，同比增2 ...

（来源：千龙网） 立春时节，万物新生。昨天（6日）一大早，记者在怀柔区琉璃庙镇孙胡沟村看到，机器正轰鸣着进行 桥梁基础施工。村民们忙着打扫房屋、整理年货，准备迎接灾后的第一个春节。 孙胡沟村原村支书尹春燕和她的丈夫蔡永章走了，但他们走过的路有人接棒前行，他们牵挂的乡亲有人 继续照料。 安居之后，更要乐业。孙桂起拿起村里的特产如数家珍："去年蜂蜜三千六百多斤已经售完，杏仁油销 售了两千多斤。"他又指着护手霜样品，"我们联动镇民宿和小米公司推出杏仁油护手霜，已纳入'怀柔 礼物'。今年，我们还计划种植本地特色白花茶，借助'京北崎峰茶'的名气，到时候采茶、制茶、卖茶， 串起产业链，发展壮大村级产业！" 在孙胡沟村，房屋在修缮、道路在延伸、生活在恢复、村容在改变、产业在复苏。党员干部正将烈士精 神融入工作，一步步重建幸福家园。 琉璃庙镇党委副书记彭兴华介绍，目前该镇供排水、电力等关键基础设施修复成效显著，煤改电设施恢 复率达100%，住房修缮全部完工，农宅与农田保险理赔有序推进。 怀柔全区灾后重建工作也在扎实推进。截至目前，全区260宅房屋修缮任务已全部完工；101宅重建任务 中，30宅村民已完成下山安置，其余正在办理 ...

注：上证指数近10年（2016年至2025年）春节前5个交易日涨跌幅情况 随着春节假期临近，A股行情即将迈入最后一周，投资者纷纷聚焦今年能否继续迎来"红包行情"。从历 史数据上看，上证指数近10年节前5个交易日上涨比例达7成，平均涨幅近0.2%。其中，在2021年、 2024年、2023年节前，上证指数涨势较优，而在2022年、2020年、2018年节前则表现不佳。 受节前交易转淡影响，A股市场近期量能数据持续下滑，沪深京三市今日成交额2.16万亿元，继续刷新 年内最低纪录。其中，作为观测市场情绪关键指标的融资余额近日也大幅回落，截至2月5日数据，A股 融资余额目前规模达2.66万亿元，已连续6个交易日出现下降态势，并创1月12日以来近4周新低，期间 累计净卖额达611.9亿元。 双创指数表现较优，55%板块节前获收涨 市场主要指数方面，在近10年节前5个交易日期间，科创50、创业板指表现较优，平均涨幅分别达 2.4%、2.2%，同时以中证500、沪深300为代表的中盘股、大盘股指数表现优于以中证2000、国证2000 为代表的小微盘股。以上涨比例统计（不足10年以实际年份统计），创业板指、深证成指、红利指数 ...

活动以"茶香伴归途·西城年味浓"为主题，设置了广外茶文化区、老字号展销区、茶墨迎春区三大区 域，汇聚西城区一批特色京味老字号，同步设置茶文化讲解、票根送福等特色互动环节。 茶文化区立足广外马连道"中国茶叶第一街"核心产业优势，品类涵盖适配旅途的便携茶品、充满创意的 茶主题文创好物等。同时，邀请优质茶商参与，为周边居民及往来旅客提供免费品茶和专业茶文化讲解 等服务，让新春归途满溢广外茶香和人文温情。 写"福"字。 本报记者 方非摄 书法家在活动现场为旅客们书 本报讯（记者 张骜）春运归途，年味相伴。立春时节，伴随着春运涌动的人流，位于北京西站北广场 进站口前大厅的"西西市集"热闹开摊。本次新春市集由西城区广外街道联动北京西客站、西城区京味老 字号、西城区书法家协会共同呈现，为往来旅客打造一处"候车间隙5分钟可达"的春运暖心市集，将持 续到2月14日，每天10:30至18:30开摊营业。 展销区汇聚一众特色老字号商户，从承载京味记忆的紫光园点心、家宴必备的全聚德烤鸭到寓意吉祥的 年糕钱伴手礼、匠心独运的天蕙斋鼻烟壶，涵盖地道京味美食与创意文创等多个品类，让大家在购买好 物享受优惠的同时，感受西城多元人文和地道广外 ...

Group 1 - The consumer sector has recently rebounded after a prolonged period of stagnation, with multiple fund companies launching consumer-themed funds, indicating a potential shift in market sentiment [1][4] - Several new consumer-themed funds have been established, including the Guangfa Consumer Leading Stock Fund with a scale of 52.33 million and the Taixin Consumer Selected Mixed Fund with 10.08 million, both of which are initiated funds that can be quickly established [2] - As of February 5, 2023, consumer-themed ETFs have seen increased capital inflow, with the Huatai-PB Consumer ETF experiencing a net inflow of 1.936 billion, and both the Fuguo Consumer 50 ETF and the E Fund Hong Kong Stock Connect Consumer ETF exceeding 500 million in net inflows [3] Group 2 - The consumer sector's valuation and institutional holdings are at historical lows, presenting a favorable cost-performance ratio for investors, as noted by fund managers [4] - The allocation of public funds in the consumer sector has decreased, with the proportion of the consumer industry in active equity funds' A-share holdings dropping to 7%, reflecting a pessimistic outlook on consumption [4][5] - Future investment strategies in the consumer sector will focus on selective stock picking, emphasizing companies with solid business models and clear growth paths, rather than relying on single sectors for excess returns [6]

Core Viewpoint - The Dutch food safety authority announced that Danone has recalled certain batches of infant formula in the Netherlands due to the EU's recent reduction of the allowable limit for Bacillus cereus toxins in baby food [1] Group 1: Company Actions - Danone coordinated with Dutch authorities to recall multiple batches of its Nutrilon brand products [1] Group 2: Regulatory Changes - The recall is a response to the European Union's recent decision to lower the toxin limit in infant food products [1]

以下文章来源于创业板观察 ，作者梓隆 创业板观察 . 创业板观察致力于发布深交所创业板的市场发展、政策变化、监管导向、上市企业动态等的及时信息， 提供有价值的市场资讯。 随着春节假期临近，A股行情即将迈入最后一周，投资者纷纷聚焦今年能否继续迎来"红包行 情"。 从历史数据上看，上证指数近10年节前5个交易日上涨比例达7成，平均涨幅近0.2%。 其中，在2021年、2024年、2023年节前，上证指数涨势较优，而在2022年、2020年、 2018年节前则表现不佳。 注：上证指数近10年（2016年至2025年）春节前5个交易日涨跌幅情况 双创指数表现较优，55%板块节前获收涨 市场主要指数方面，在近10年节前5个交易日期间，科创50、创业板指表现较优，平均涨幅分 别达2.4%、2.2%，同时以中证500、沪深300为代表的中盘股、大盘股指数表现优于以中证 2000、国证2000为代表的小微盘股。以上涨比例统计（不足10年以实际年份统计），创业板 指、深证成指、红利指数、科创50、北证50指数该比例在六成以上。 注：市场主要指数近10年（2016年至2025年）节前5日上涨比例及平均涨跌幅 行业层面来看，31个 ...

Group 1 - The core viewpoint of the article highlights a significant rebound in consumer stocks, particularly in the food and beverage, cultural tourism, and film industries, driven by the longest Spring Festival holiday in history and ongoing consumer stimulus policies [1][4] - The consumer sector has seen a rotation and substantial increase since February, with notable growth in the food and beverage and cultural tourism sectors [1] - The Ministry of Commerce and nine other departments have launched a special Spring Festival activity plan to boost consumption during the nine-day holiday, focusing on cultural traditions and family gatherings [3] Group 2 - Travel booking orders have surged ahead of the Spring Festival, with a report indicating that the average travel days per user for the holiday have increased to 5.9 days, up by 1.1 days from last year [6] - Flight bookings for the holiday have shown a 20% year-on-year increase, with outbound travel service bookings rising nearly 40% and inbound flight bookings increasing over fourfold [6] - Online shopping has also seen remarkable growth, with a specific seafood package experiencing a 607% month-on-month increase in demand since the start of the New Year shopping festival [6]

Core Insights - The A-share market is experiencing a complex situation as it approaches the Spring Festival holiday, with previous hot sectors like optical modules, non-ferrous metals, and AI tech stocks in the US showing varying degrees of correction [1] - The Guangfa Fund advisory team suggests that after a significant rise in January, the market is becoming more rational, with a focus on "going overseas + technology" themes, emphasizing cyclical industries supported by global demand and sectors intersecting AI and overseas markets [1][3] Industry Performance - As of February 1, approximately 55% of listed companies in A-shares have disclosed their earnings forecasts for 2025, indicating an overall recovery in profitability, although significant industry divergence is noted, with non-bank financials and non-ferrous metals performing particularly well [1] - The median earnings growth forecast for all A-shares in 2025 is 18%, with a quarterly median growth forecast of 11% for Q4 2025. However, historical trends suggest that this data may decline after all companies complete their earnings disclosures [1] Positive Earnings Forecasts - The proportion of positive earnings forecasts varies significantly across industries, with non-bank financials at 100%, non-ferrous metals at 65%, and automotive and beauty care sectors exceeding 50%. In contrast, industries like coal, real estate, and light manufacturing have positive forecast ratios below 20%, indicating lower industry sentiment [2] - High earnings growth industries for 2025 are primarily in three areas: those directly boosted by market or price factors (e.g., non-bank financials and non-ferrous metals), those benefiting from AI-driven demand (e.g., machinery, electronics, computing, and communications), and those supported by overseas market demand (e.g., machinery, media, and batteries) [2] Investment Strategy - The Guangfa Fund advisory team recommends that investors maintain a balanced allocation strategy to mitigate risks and smooth portfolio volatility, especially in a market characterized by significant industry divergence [3] - The company emphasizes its comprehensive asset management capabilities, offering a full range of products to meet diverse investment needs across different economic cycles and market environments, suggesting that investors consider fund advisory combinations for a more manageable investment experience [3]