其他热点还有：外卖平台迎来反垄断调查，一周之内三家AI企业港交所上市。 光伏产品增值税出口退税取消 继2024年底中国将光伏、电池出口退税率由13%下调至9%后，1月9日财政部、税务总局发布公告，决 定自2026年4月1日起，取消光伏等产品增值税出口退税；自2026年4月1日起至2026年12月31日，将电池 产品的增值税出口退税率由9%下调至6%；2027年1月1日起，取消电池产品增值税出口退税。 当前，光伏产业存在供需错配和无序低价竞争等问题。去年7月初，工业和信息化部召开光伏行业制造 业企业座谈会，提出依法依规、综合治理光伏行业低价无序竞争，引导企业提升产品品质，推动落后产 能有序退出，实现健康、可持续发展。 根据中国光伏行业协会数据，光伏主产业链31家企业2025年前三季度营业收入同比下降16.9%，合计亏 损310.39亿元。受全球光伏产业链价格整体下行影响，我国光伏产品出口额已连续两年同比下降。 【点评】经过多年出口退税支持，我国光伏和电池产业在国际上已经具备竞争优势，但也出现了无序低 价竞争以及其他一些国家反补贴调查等问题。业内人士认为，取消出口退税可看作"反内卷"的另一举 措，意在逼迫企业放弃 ...

Core Viewpoint - Zhejiang Energy Group achieved record-high power generation and energy supply in 2025, with a total power generation of 211.5 billion kWh, coal supply of 75.23 million tons, gas supply of 14.9 billion cubic meters, and heat supply of 138.16 million GJ, all showing year-on-year growth, demonstrating high-quality energy supply capabilities [1][3]. Group 1: Energy Supply Achievements - In 2025, Zhejiang Energy Group's total power generation reached 211.5 billion kWh, marking a historical high [1]. - The company completed nearly 5 million kW of new installed capacity, contributing to the energy supply stability and safety [3]. - The group successfully launched several major projects, including the expansion of existing power plants and the construction of new units, all designed to meet leading domestic standards for coal consumption and emissions [3]. Group 2: Operational Efficiency - During peak summer demand, Zhejiang Energy Group's power generation units played a crucial role in ensuring energy supply, effectively managing equipment reliability and load capacity [4]. - The company implemented a comprehensive management strategy to enhance equipment reliability and address output constraints, ensuring maximum generation capacity [4]. Group 3: Fuel Supply and Infrastructure - Zhejiang Energy Group's fuel supply strategy, supported by a complete industrial chain, ensured effective coal supply to power plants, achieving record throughput at its port facilities [6]. - The company met its annual targets for coal import and throughput, reaching 15 million tons and 30 million tons respectively, both setting new records [6]. Group 4: Natural Gas and Renewable Energy - The natural gas division established a comprehensive supply system, optimizing the energy structure and enhancing public welfare [9]. - The Wenzhou LNG receiving station set a record for peak output, ensuring sufficient supply during high-demand periods [9]. - The company is advancing its green transition by expanding renewable energy projects, achieving a twofold increase in renewable energy installed capacity compared to the end of the 13th Five-Year Plan [9]. Group 5: Winter Preparedness - As winter approaches, the company is focusing on detailed deployment across power generation, coal supply, gas supply, and heating to enhance supply capabilities and ensure stable energy for the public [10].

Core Viewpoint - The Shanghai Composite Index surpassed 4100 points, reaching a ten-year high, driven by strong performances in AI applications, rare earths, commercial aerospace, and oil and gas sectors [1] Group 1: Market Performance - The AI application sector saw significant gains, with companies like Zhejiang Wenlian and Yidian Tianxia hitting the daily limit [1] - The rare earth permanent magnet sector was active, with Antai Technology and Xiamen Tungsten hitting the daily limit [1] - The commercial aerospace concept continued its upward trend, with over ten stocks including Xusheng Group and Guangqi Technology reaching the daily limit [1] - Oil and gas stocks performed well, with Intercontinental Oil and Gas hitting the daily limit [1] Group 2: ETF Performance - The CSI 2000 Enhanced ETF (159552) achieved a seven-day winning streak, with an intraday high of 2.13 yuan, marking a record since its listing [1] - According to data from Galaxy Securities Fund Research Center, as of January 2, the CSI 2000 Enhanced ETF (159552) had a one-year net value growth rate of 64.29%, ranking fifth among 33 similar enhanced index stock ETFs [1] Group 3: Investment Recommendations - CICC noted that the current global macro environment and trends in innovative industries remain favorable for growth styles, although valuations have increased after over a year of gains [1] - By 2026, the A-share market style may become more balanced due to the advancement of capacity reduction [1] - Three main investment themes are suggested: 1) Growth represented by computing power, optical modules, and cloud computing; 2) Growth opportunities from overseas expansion; 3) Cyclical reversal opportunities due to improving supply-demand issues or policy support [1]

Core Viewpoint - Citigroup's research report indicates that Sinopec Group's restructuring with China Aviation Oil Group is expected to enhance Sinopec's development in aviation fuel and sustainable aviation fuel, benefiting its refining and sales business while alleviating the impact of declining structural demand for gasoline and diesel in China [1] Group 1: Restructuring and Strategic Implications - Sinopec's restructuring with China Aviation Oil Group is anticipated to strengthen its position in the aviation fuel sector [1] - The long-term demand growth for aviation fuel is considered resilient, prompting attention to potential synergies between Sinopec's aviation fuel business and China Aviation Oil [1] - It remains unclear whether Sinopec Group will absorb assets from China Aviation Oil Group or establish a new entity [1] Group 2: Market Position and Recommendations - Citigroup does not see an urgent need for Sinopec to restructure or inject assets at the listed company level [1] - The target price for Sinopec is set at HKD 5.2, with a "Buy" rating [1] - Citigroup's preferred stock in the Chinese oil and gas sector remains PetroChina, which is viewed positively for its strong dividend capability in a low oil price environment [1]

Core Viewpoint - The restructuring of China Petroleum & Chemical Corporation (Sinopec) and China Aviation Oil Group (CAOG) marks a significant shift in the domestic aviation fuel market, creating a powerful entity that connects refining to airport fuel sales, thereby reshaping competition in the sector [1][3]. Group 1: Restructuring Details - The restructuring was approved by the State-owned Assets Supervision and Administration Commission (SASAC) and is the first major merger among oil and gas state-owned enterprises since the establishment of the National Oil and Gas Pipeline Group in December 2019 [1]. - Sinopec is the world's largest refining company and the second-largest chemical company, while CAOG is Asia's largest aviation fuel service provider [1][2]. Group 2: Market Implications - The merger is expected to reshape the competitive landscape of the domestic aviation fuel market, with CAOG gaining direct access to stable revenue streams from aviation fuel sales, while Sinopec strengthens its upstream supply chain [1][3]. - China's aviation fuel consumption is projected to grow significantly, with a 13% increase expected in 2024, reaching 39.28 million tons, and a forecast of 75 million tons by 2040 [3]. Group 3: Strategic Considerations - The merger aligns with global trends of vertical integration in the energy sector, enhancing the combined entity's strength in both upstream and downstream operations [4]. - The focus on sustainable aviation fuel (SAF) is critical, as it is seen as a key pathway for decarbonizing the aviation industry, with Sinopec being a pioneer in SAF production in China [5][6]. Group 4: Concerns and Challenges - There are concerns regarding market barriers that may arise from the merger, particularly for private SAF producers, as the new entity may leverage its integrated advantages to dominate the market [7]. - Other suppliers and airlines are apprehensive about potential reductions in market space and the impact on pricing power due to the consolidation of the largest supplier and distributor in the aviation fuel sector [7].

1月9日，A股三大指数早盘集体飘红，沪指时隔10年盘中再度突破4100点；港股科网股多数上涨，AI大模型公司Minimax上市首日股价狂 飙；黄金由涨转跌，白银持续下挫。 具体来看，截至午盘，沪指涨0.3%，深成指涨0.57%，创业板指涨0.1%。沪深两市半日成交额2.08万亿元，较上个交易日放量2963亿元。全 市场上涨个股有2343家，下跌个股有2928家，64只股涨停。 盘面上，能源金属、商业航天、医保支付改革、AI应用、算力硬件题材活跃，光伏、半导体、保险板块走弱。 | 名称 | 现价 | 涨跌 | 涨跌幅 | 年初至今 | | --- | --- | --- | --- | --- | | 伦敦金现 | 4465.768 | -12.062 | -0.27% | 3.42% | | 伦敦银现 | 76.584 | -0.310 | -0.40% | 7.00% | 其中商业航天再掀涨停潮，鲁信创投（600783）11天9板，巨人索具2连板，杭萧钢构（600477）等13股封板。 展望2026年，国信证券认为，伴随居民资金入市进程推进，全年增量资金预计达2万亿元。从资金流入项目看，散户活跃资金有望进一 ...

Market Overview - The A-share market saw all three major indices rise, with the Shanghai Composite Index breaking the 4100-point mark for the first time in 10 years, closing at 4095.33, up 0.3% [1][2] - The Shenzhen Component Index increased by 0.57% to 14038.46, while the ChiNext Index rose by 0.1% to 3305.48 [2] - The total trading volume in the Shanghai and Shenzhen markets reached 2.08 trillion yuan, an increase of 296.3 billion yuan compared to the previous trading day [1][2] Sector Performance - Active sectors included energy metals, commercial aerospace, healthcare payment reform, AI applications, and computing hardware, while solar energy, semiconductors, and insurance sectors showed weakness [2] - The commercial aerospace sector experienced a surge, with multiple stocks hitting the daily limit, including Lushin Investment, which achieved 9 limit-ups in 11 days [2] AI and Technology Stocks - The AI application concept continued to strengthen, with stocks like Yuel Media and Easy Point Technology hitting the daily limit [3] - MiniMax, an AI model company, saw its stock price soar by 81% on its debut, later stabilizing at a 65% increase, with a market capitalization of 83.4 billion HKD [3] Precious Metals - Gold prices turned from gains to losses, with spot gold falling below 4470 USD, down nearly 0.3% [5][6] - Silver prices also declined, with spot silver dropping nearly 2% at one point, and futures contracts falling over 1% [5][6] Future Outlook - Guosen Securities predicts that with increased retail investor participation, the total incremental funds for the year could reach 2 trillion yuan [6] - The gold-silver ratio has dropped significantly, indicating potential profit-taking in the silver market, although there is speculation that silver prices may reach new highs around the Lunar New Year [6]

债市：国债期货全线下跌，截至发稿，30年期主力合约跌0.23%，10年期主力合约跌0.05%，5年期主力 合约跌0.07%，2年期主力合约跌0.03%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | HSI | 恒生指数 | ไ | 26219.99 | 70.68 | 0.27% | | HSTECH | 恒生科技 | 1 | 5697.03 | 18.69 | 0.33% | | HSCEI | 恒生中国企业指数 〜 | | 9069.27 | 29.93 | 0.33% | A股：截至发稿，沪指涨0.29%，深成指涨0.45%，创业板指跌0.18%。 港股：截至发稿，恒指涨0.27%，恒科指涨0.33%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | TL | CFFEX30年期国f し | | 110.70 | -0.25 | -0.23% | | T | CFFEX10年期国f / | | 107. ...

1月9日早盘，A股三大指 数 开盘涨跌不一 ， 沪指盘中拉升涨超0.5%，突破4100点，续创 2015年7月底以来新高。 （声明：文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。） 出品丨21财经客户端 21世纪经济报道 油气股高开，中国石化竞价涨停 知情人士：多晶硅龙头被约谈确有其事 SFC 21君荐读 沪深两市成交额连续第155个交易日突破1万亿，较上一日此时放量超900亿，预计全天成交金 额近3万亿。 | W | | | 上证指数(000001) | | | | --- | --- | --- | --- | --- | --- | | | | | 01-09 10:02:21 | | | | 4105.67 | | 昨收 | 4082.98 | 成交额 | 4088亿 | | 22.70 | 0.56% | 今开 | 4086.76 | 成交量 | 233.5亿 | | 上 涨 | 1450 | 中 | 120 | 下 跌 | 771 | | 最高价 | 4106.58 | 市盈率 | 17.1 | 近20日 | 5.26% | | 最低价 | 4083.62 | 市净率 | 1.55 ...

2026.01.09 本文字数：675，阅读时长大约1分钟 作者 |一财阿驴 09:28商业航天板块再度高开，远东股份4连板，中国一重3连板，中衡设计、盛洋科技、巨力索具2连 板。消息面上，广州提出到2035年，打造具有全球影响力的中国商业航天新一极。 09:25 A股开盘丨沪指高开0.09% 沪指高开0.09%，深成指低开0.30%，创业板指低开0.69%，科创综指低开0.47%。 | | 6.68 +0.61 +10.05% | | | 中国石化 1 立即 600028 交易 | | | | --- | --- | --- | --- | --- | --- | --- | | | SSE CNY 9:25:02 交易中 查看L2全景 | | | 好似成持受限 通 品 √ ○ + | | | | 港(0386) | 4.750(+1.71%) H/A:-36.02% | | Wind ESG评级A | | | 详情 | | 委托 | -84.26% 委差 | -93598 | रेस | 8.09% 120日 | | 17.86% | | 或五 | | | 5日 | 8.09% 250日 | | 4.54 ...