新余国科公告，公司持股5%以上股东江西省农业发展集团有限公司2025年10月25日-2026年1月15日通 过集中竞价减持股份222.32万股，减持均价32.6元/股，减持比例0.80%；减持后持股7453.16万股，占总 股本26.93%。此前其计划减持不超276.76万股，占总股本1%，本次计划已实施完毕。 ...

今年以来，A股市场延续了去年12月中旬启动的这轮跨年行情，大盘出现17连阳并一度突破4100点整数 关口，市场整体风险偏好明显回升。 支撑这轮强势上攻的力量主要来自两方面：一是以AI等为代表的热点板块受到资金追捧并再次出现大 涨，带来较强的赚钱效应，吸引场外资金入场；二是一月份通常是全年信贷投放最多的月份，新增信贷 投放一般达到3万亿—4万亿左右，其中一部分资金可能成为市场的援军，资金面较为宽裕，共同推动了 本轮A股强势行情。在连续上行之后，市场呈现出短期过热的特征，包括单日成交额一度逼近4万亿大 关并创出历史新高，融资融券余额突破2.6万亿并刷新历史记录；某只基金一天的销售量更是高达120万 亿并创出近年纪录，这些都反映出短期交易拥挤与情绪偏热的迹象。 而市场上涨主要集中在科技创新板块，包括人形机器人、芯片半导体、算力算法、可控核聚变、商业航 天等，这些代表未来方向的行业短期内并没有太多业绩支撑。特别是前期被热炒的商业航天，距离释放 业绩仍较远，因此我也多次提醒风险，建议投资者不要追高，因为在短期快速拉升、交易过热之后，可 能面临较大的调整。 由此可见，基本面与市场表现的"温差"很大程度上源于观察角度不同： ...

2026年初，布鲁塞尔的寒风凛冽，街道被一群愤怒的农民用拖拉机封锁，他们朝着警察的盾牌砸下土豆，抗议的声音在空气中回荡。这一场景不仅撕裂了欧 洲的政治面纱，也成为了西方对俄罗斯制裁四年后最讽刺的一笔注脚。想不到吧？当俄罗斯的超市货架依然充盈，卢布汇率稳如磐石时，欧洲的工厂却因为 能源价格暴涨而不得不搬迁，德国制造业连续几个月陷入萎缩。这场经济对抗的结果，出乎所有人的意料——那些曾预言俄罗斯崩溃的专家们，现在只能默 默无言。 俄罗斯的绝地反击无疑是一个教科书般的成功案例。当西方切断SWIFT支付系统时，普京没有急于反击，而是冷静地推出了"天然气卢布令"，强制要求不友 好国家以卢布支付能源。这一举措不仅稳住了卢布汇率，甚至让卢布一度成为了全球最强的货币。俄罗斯与其友好国家的贸易额如今已占到其进出口总额的 77%。这背后，显现出了俄罗斯对外经济策略的精准把控。 援助成本而争论不休。这场经济博弈，几乎重新定义了21世纪的经济规则。俄罗斯凭借着"堡垒经济"的模式，展示了在极端压力下，集中体制所能爆发出的 惊人韧性。然而，这场生死对抗的代价同样沉重。随着战争逐渐成为俄罗斯经济支柱，和平反倒成了最大的挑战。 当硝烟散去，真 ...

2026年1月8日，美股开盘的前半小时仿佛一场过山车的刺激体验。道琼斯指数小幅上涨，而纳斯达克虽 然跌幅不大，但最让人感到震撼的是国防板块。洛克希德·马丁股价一度跌近5%，而雷神技术的跌幅更 是触目惊心，直接跌破7%，整个板块的市值在短短时间内蒸发了数百亿美元。投资者们盯着屏幕，彼 此对视，咖啡还未喝完，手中的军工股却早已染上了刺眼的绿色。 与此同时，一些人突然翻出前一天的新闻，猛地拍了拍大腿。特朗普在南卡罗来纳州的竞选集会上提 到，要将2027财年的军费预算提升至1.5万亿美元，较今年增加了2000多亿。按常理推断，军费上涨， 军工企业应该会欢欣鼓舞，因为这意味着更多的订单和利润。然而，华尔街的反应却完全相反，国防股 开始带头大幅下跌，这其中的原因显然不那么简单，背后隐藏着特朗普那句意味深长的军费要花在刀刃 上。 让华尔街为之震动的是，特朗普在竞选集会上所抛出的炸弹——他宣称要将2027年军费预算提高到1.5 万亿美元，创造历史新高。但接着，他又补充了一句：那些军工企业别想着拿到钱就回购股票，先把导 弹、战机造出来再说。这番话一出口，第二天雷神技术的股价瞬间就像失去了牵引的风筝，快速下滑。 有分析师私下议论 ...

2026年初的布鲁塞尔寒夜，街道被拖拉机堵得水泄不通，欧盟总部周围弥漫着紧张的气息。愤怒的农民将土豆狠狠砸向警察的盾牌，抗议声像雷霆般撕裂了 欧洲政治的体面——这一幕，成为西方制裁俄罗斯四年后最讽刺、最讽刺的注脚。寒风中，怒吼与呐喊交织，街头的混乱仿佛在无声地质问那些制定制裁政 策的人：你们真的算计对了吗？ 谁能料到呢？当俄罗斯超市的货架依旧琳琅满目，卢布汇率稳得如泰山般不动时，欧洲的工厂却因为能源价格飙升而纷纷外迁，德国制造业连续数月萎缩。 这场经济博弈的结果，让所有曾经预测俄罗斯会迅速崩溃的专家哑口无言，连他们的脸色也因意外而有些扭曲。曾经的战略自信，如今在现实面前显得脆弱 而讽刺。 俄罗斯的绝地反击堪称教科书级别。当西方切断SWIFT系统时，普京迅速推出天然气卢布令，强制要求不友好国家必须用卢布购买能源。这一操作不仅稳住 了卢布汇率，还让卢布一度成为全球最强货币。如今，俄罗斯与友好国家的贸易额已占其进出口总额的77%，稳固了经济底盘，也让国际金融市场为之一 振。 更令人瞩目的，是俄罗斯向东看的战略。欧洲在是否全面禁运俄罗斯油气的问题上犹豫不决，而印度和中国则成为急切的大买家。2025年第一季度， 俄罗斯 ...

Group 1 - UBS raised the target price for General Dynamics from $381 to $388, maintaining a "Neutral" rating [1]

Investment Rating - The industry investment rating is "Recommended" (maintained) [1][7] Core Insights - The report highlights the strategic opportunities in military trade, particularly the interest from multiple countries in procuring the JF-17 "Thunder" fighter jet, which has shown outstanding performance in combat [5][6] - The global geopolitical landscape remains complex, with ongoing issues such as the Ukraine crisis and increased military budgets in the U.S., suggesting a heightened demand for military trade [5][6] - China's military trade market is expected to open up significantly, driven by the emphasis on high-end equipment exports and the increasing importance of military trade within the defense industry [6][7] Summary by Sections Recent Performance - The defense and military industry has outperformed the CSI 300 index, with a 1-month increase of 25.0%, a 3-month increase of 27.9%, and a 12-month increase of 58.0% compared to the CSI 300's increases of 3.5%, 4.5%, and 24.1% respectively [4] Investment Highlights - The JF-17 "Thunder" fighter jet is attracting interest from various air forces due to its advanced avionics, active phased array radar, and cost-effectiveness compared to foreign counterparts [6] - The successful combat performance of the J-10CE fighter jet in 2025 has garnered global attention, showcasing the capabilities of Chinese military equipment [6] - The report emphasizes the importance of military aircraft as core platforms for integrated combat systems, which can drive growth in related manufacturing and systems industries [6] Industry Outlook - The report anticipates a golden period for China's military trade over the next five years, supported by supply-side reforms and a richer product spectrum [7] - Key areas for investment include main platform manufacturers, unmanned systems, guided munitions, and radar systems, with specific companies highlighted for potential growth [7]

Core Insights - The use of the "Oreshnik" missile by Russia marks a significant escalation in conventional strategic strike capabilities, demonstrating the ability to bypass existing Western defense systems [1][10][11] - The attack on the underground gas storage facility in Lviv, a critical energy hub for Europe, has profound implications for European energy security and market stability [3][5][8] Group 1: Missile Capabilities and Impact - The "Oreshnik" missile, capable of flying at speeds exceeding 10.53 Mach, can strike targets within minutes, rendering current defense systems nearly ineffective [1][10] - The missile's successful penetration of deep geological structures signifies a shift in Russia's military strategy, focusing on critical energy infrastructure rather than traditional military targets [3][12][17] Group 2: Energy Security Implications - The destroyed gas storage facility in Lviv holds over 17 billion cubic meters of gas, accounting for more than 52% of Ukraine's storage capacity, crucial for maintaining energy supply in Central Europe [5][8] - The attack has led to a 23% spike in TTF natural gas prices within 48 hours, indicating immediate market panic and potential long-term volatility in energy pricing [8][24] Group 3: Geopolitical Repercussions - The choice of target near the Polish border serves as a geopolitical provocation, challenging NATO's perceived security guarantees and highlighting vulnerabilities in collective defense mechanisms [8][12][19] - The incident has caused divisions within Europe regarding energy policy and defense strategies, with some countries advocating for increased military support for Ukraine while others push for energy independence [19][20] Group 4: Strategic Shifts in Warfare - Russia's approach reflects a transition from traditional territorial warfare to a strategy aimed at undermining the opponent's capacity to sustain conflict through targeted strikes on energy infrastructure [17][24][45] - The successful use of the "Oreshnik" missile may accelerate the development of hypersonic weapons globally, reshaping defense strategies and military preparedness in Europe and beyond [43][45]

商业航天牛股*ST铖昌和今年首只翻倍牛股志特新材今日双双宣布股票明日复牌。 今日晚间，志特新材发布公告称，公司股票自2026年1月5日至12日连续6个交易日涨停，涨幅达198.57%，为维护投资者利益，公司就股 票交易波动情况进行核查。经公司申请，公司股票自2026年1月13日开市起停牌，停牌期间，公司就股价波动的相关事项进行了核查。鉴 于相关自查工作已完成，公司股票将于2026年1月16日(星期五)开市起复牌。 针对近期公司股票异常波动情况，公司董事会对公司、控股股东、实际控制人及其一致行动人就相关事项进行了核实，有关情况如下： 截至目前，公司业务不涉及AI应用、人工智能、量子科技、机器人及商业航天领域，亦未形成相关收入。自上市以来，公司主营业务为 铝模、防护平台、装配式预制件等产品的研发、生产与销售，未发生任何变化； 经公司自查，公司目前生产经营活动一切正常，近期公司经营情况及内外部经营环境未发生重大变化； 公司2024年度实现营业收入252,638.67万元，归属于上市公司股东的净利润为7,369.51万元；2025年前三季度实现营业收入202,34 8.67万元，归属于上市公司股东的净利润为11,78 ...

Core Viewpoint - The company, Xinyu Guoke (300722), announced a plan for share reduction by key shareholders, which will not affect the company's control or governance structure [1] Group 1: Shareholder Reduction Plans - Chairman Yuan Yougen plans to reduce his indirect holdings by up to 100,000 shares, representing 0.0361% of the total share capital [1] - Director and General Manager Liu Aiping and Deputy General Manager He Guangming also plan to reduce their indirect holdings by up to 100,000 shares each, representing 0.0361% of the total share capital [1] - The total planned reduction amounts to no more than 300,000 shares, or 0.1084% of the total share capital, to be executed within three months starting from February 6, 2026 [1] Group 2: Reasons and Conditions for Reduction - The reason for the share reduction is stated as the shareholders' personal funding needs [1] - The reduction price will be determined based on the secondary market price, and will not be lower than the initial public offering price [1] - Shareholders have committed to not transferring more than 25% of their total holdings annually during their tenure, and they have adhered to this commitment so far [1] Group 3: Impact on Company Structure - The planned share reduction will not lead to any change in the company's control [1] - The governance structure and ongoing operations of the company will remain unaffected by this share reduction [1]