南财智讯1月29日电，三木集团发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润 为-75,000万元至-82,000万元，即净亏损7.50亿元—8.20亿元；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-72,000万元至-80,000万元。2025年度公司整体业绩下滑主要原因为：由于 报告期内公司受房地产行业项目销售价格持续下行因素及贸易行业市场变化等影响，公司做出如下风险 提示：公司根据会计准则要求对各项资产进行减值测试，拟计提资产减值损失及信用减值损失累计约 46,000万元至51,000万元，预计减少归属于上市公司股东净利润约44,000万元至49,000万元。相关减值测 试程序仍在持续进行中，上述各项减值损失计提的最终金额仍存在不确定性，将由公司聘请的审计机构 及评估机构进行评审后确定。 ...

先看大盘整体数据。 2026年1月29日，A股主要指数分化显著。上证指数在权重股支撑下逆势收涨 0.16%，报4157.98点；而代表成长风格的科创50指数则大跌3.03%，创业板指下跌0.57%。 两市合计成 交额显著放大至3.23万亿元，环比增加超过2600亿元。 今日A股呈现冰火两重天格局：上证指数微涨，但科创50指数重挫超3%。市场风格剧烈切换，资金从 高估值成长赛道（半导体、新能源）大幅流出，涌入低估值顺周期板块（白酒、地产、金融）。 两市 成交额显著放量至3.23万亿元，显示出在关键风格分歧点上多空博弈的激烈程度。短期市场或延续"蓝 筹补涨、成长休整"的格局，而中长期科技创新主线正在震荡中孕育新的布局机会。 第一，短期风格惯性可能延续。 在政策预期和节前效应的支撑下，大消费和低估值蓝筹的补涨行情仍 有一定动能，但其反弹高度和持续性，将紧密依赖后续公布的宏观消费及地产销售数据能否给予验证。 这种"沪强深弱"、"价值强于成长"的格局，绝非偶然，而是多重因素驱动下资金集体选择的结果。 板块表现上，涨幅榜与跌幅榜阵营分明，宛如一场"现实派"与"梦想派"的对话。 领涨的"现实派"以消费和传统经济为主力。食品 ...

Market Overview - The A-share market showed mixed performance today, with the Shanghai Composite Index rising by 0.16% to close at 4157.98 points, while the Shenzhen Component Index fell by 0.3% to 14300.08 points. The ChiNext Index decreased by 0.57% to 3304.51 points, and the Sci-Tech 50 Index dropped by 3.03% to 1507.64 points. Overall, there were 1801 stocks that rose and 3562 that fell, with a total trading volume of 32.3 billion yuan, an increase of 2.646 billion yuan from the previous trading day [1][2]. Industry Performance - Among the Shenwan first-level industries, food and beverage, media, real estate, non-bank financials, and oil and petrochemicals led the gains, with increases of 6.57%, 3.53%, 2.65%, 2.28%, and 2.23% respectively. Conversely, the electronics, defense and military industry, electric equipment, and machinery sectors experienced declines, with drops of 3.56%, 1.79%, 1.78%, 1.76%, and 1.66% respectively [1]. Concept Sector Performance - The top-performing concept sectors today included liquor, beverage manufacturing, real estate selection, Xiaohongshu platform, oil and gas extraction, short drama games, brand leaders, Pinduoduo partners, virtual humans, insurance selection, Kimi, WEB3.0, rare earths, Chinese corpus, and bank selection. In contrast, sectors such as the SMIC industrial chain, copper-clad laminates, analog chips, and third-generation semiconductors saw a pullback [2].

Economic Growth and Targets - China's GDP growth target for 2026 is likely to remain around 5%, balancing short-term stability and long-term structural transformation [2][3] - The economic growth in 2025 is expected to achieve a target of 5%, with a quarterly growth rate of approximately 4.6% in Q4, indicating a "high first, low second" trend throughout the year [3] Consumption and Investment Trends - Consumption is expected to see a slight recovery in 2026, but growth will be limited due to policy, income, and balance sheet constraints, with a focus on structural upgrades in service consumption and new consumption scenarios [5][6] - Investment growth is projected to stabilize in 2026, driven by infrastructure and manufacturing sectors, with a notable shift towards new infrastructure projects such as 5G and AI [6][7] Export Performance - China's exports are anticipated to maintain resilience, with a projected growth rate of around 5% for the year, supported by market diversification and product structure upgrades [8][9] Price Trends - CPI is expected to rise moderately in 2026, driven by service price increases, while PPI is projected to see a narrowing of its decline due to rising prices in emerging industries and resource products [10] Monetary and Fiscal Policies - Monetary policy will continue to be moderately accommodative, focusing on precise measures to support the real economy and maintain liquidity [11][12] - Fiscal policy is set to remain actively expansive, with an emphasis on social welfare and debt management, alongside a significant increase in the deficit to support major projects [13][14] Overall Economic Outlook - The Chinese economy is in a phase of moderate recovery and structural adjustment, with new growth drivers such as technological innovation and manufacturing upgrades laying the foundation for long-term growth [15]

Market Performance - A-shares exhibited polarized performance on January 29, with the Shanghai Composite Index experiencing slight fluctuations, while the ChiNext Index fell back after a peak, and the STAR 50 Index dropped over 3% [1] - The Shanghai Composite Index closed up 0.16% at 4157.98 points, while the Shenzhen Component Index fell 0.3% to 14300.08 points, and the ChiNext Index decreased by 0.57% to 3304.51 points [1] - The total trading volume in Shanghai and Shenzhen reached 32,594 billion yuan, an increase of 2,671 billion yuan from the previous day, with over 3,500 stocks declining [1] Sector Performance - The non-ferrous metals sector was notably active, with copper and precious metals leading the gains; stocks like Western Gold and China Gold saw significant price increases [1] - Oil and gas stocks maintained strong performance, with Intercontinental Oil and other companies achieving multiple consecutive gains [1] - The real estate sector showed signs of recovery, with stocks such as Dayue City and I Love My Home hitting the daily limit [1] Specific Stock Movements - The liquor sector saw a rise in stocks like Luzhou Laojiao and Water Well, which reached their daily limit [2] - The insurance sector strengthened, with New China Life Insurance rising over 3% to reach a historical high, and China Pacific Insurance increasing nearly 5% [2] - In contrast, technology-related stocks, including those in the semiconductor sector, collectively weakened, with Industrial Fulian experiencing a drop of over 6% following its earnings forecast [2] Analyst Insights - Zheshang Securities suggests that the market will continue to favor mid-cap growth stocks, focusing on cyclical sectors [6] - CITIC Securities highlights the increasing urgency for European defense expansion and anticipates accelerated infrastructure investment plans, which may lead to a rise in sovereign bond issuance [6] - The report indicates that the divergence between the US and Europe is becoming more pronounced, creating a potential window for pragmatic cooperation between China and Europe [6]

涨停表现 凤凰网财经讯 1月29日，三大指数涨跌不一，沪指窄幅震荡，上证50指数涨超1%，创业板指冲高回落，科创50指数跌超3%。 沪深两市成交额3.23万亿，较上一个交易日放量2646亿。盘面上，市场热点快速轮动，全市场超3500只个股下跌。 截至收盘，沪指涨0.16%，深成指跌0.3%，创业板指跌0.57%。 从板块来看，白酒板块午后爆发，泸州老窖、水井坊、舍得酒业、皇台酒业、酒鬼酒涨停。有色金属板块反复活跃，金属铜、贵金属领涨，西部黄金7天4 板，中国黄金5连板，北方铜业2连板创历史新高。油气股延续强势，洲际油气7天5板，准油股份2连板，中曼石油4天3板。房地产板块震荡反弹，大悦城、 三湘印象、我爱我家涨停。 下跌方面，芯片产业链下挫，美埃科技、京仪装备跌超9%。 封板率 69.00% 封板 82 触及 36 昨涨停今表现 3.31% 高开率 75% 获利率 ...

Core Viewpoint - The real estate sector is experiencing a significant recovery driven by regulatory optimization, policy benefits, and a shift towards high-quality development, leading to valuation restoration and structural reconfiguration opportunities. Group 1: Market Performance - As of January 29, 2026, the Real Estate ETF (512200) saw an intraday increase of nearly 4%, currently up by 3.09%, with a turnover rate of 16.92% and a transaction volume of 994 million yuan, indicating active market trading [1] - Key stocks in the index, such as Zhujiang Holdings, Tefa Services, and Dayuecheng, saw increases of 10.07%, 10.06%, and 10.03% respectively, reflecting strong performance in the sector [1] Group 2: Regulatory and Policy Environment - The cancellation of the monthly reporting requirements for the "three red lines" indicates a shift in regulatory focus from universal deleveraging to differentiated and refined control, allowing financially sound companies more operational freedom and improving the financing environment [1] - The extension of the financing "white list" for five years provides real estate companies with a buffer for cash flow, effectively alleviating liquidity pressures [2] - The initiation of commercial real estate REITs trials is expected to activate existing assets and reduce reliance on financing, contributing to a comprehensive support system for the industry [2] Group 3: Industry Outlook - Despite current pressures on sales and prices, the accelerated release of policy benefits is driving the industry away from high leverage and expansion towards a new phase of quality development focused on asset optimization and operational efficiency [2] - The Ministry of Finance and other departments have extended tax refund incentives for home purchases until the end of 2027, reducing transaction costs for improvement demand [2] - The central bank has lowered the down payment ratio for commercial properties from 50% to 30%, directly stimulating liquidity in the commercial market [2] - A "small spring" in the real estate market is emerging, with policy efforts and demand in core cities creating a positive feedback loop, leading to a rebound in the secondary housing market [2]

Market Overview - The three major indices showed mixed performance, with the Shanghai Composite Index experiencing narrow fluctuations, the SSE 50 Index rising over 1%, while the ChiNext Index fell back after a peak, and the Sci-Tech 50 Index dropped over 3% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 3.23 trillion yuan, an increase of 264.6 billion yuan compared to the previous trading day [1] Sector Performance - The liquor sector saw a significant surge in the afternoon, with stocks such as Luzhou Laojiao (000568), ShuiJingFang (600779), SheDe JiuYe (600702), HuangTai JiuYe (000995), and JiuGui Jiu (000799) hitting the daily limit [1] - The non-ferrous metals sector was actively traded, with copper and precious metals leading the gains. Notable performances included Western Gold (601069) achieving four consecutive daily limits in seven days, China Gold (600916) with five consecutive daily limits, and Northern Copper (000737) hitting a historical high with two consecutive daily limits [1] - Oil and gas stocks continued their strong performance, with Intercontinental Oil and Gas (600759) achieving five daily limits in seven days, Zhun Oil Co. (002207) with two consecutive daily limits, and ZhongMan Petroleum (603619) recording three daily limits in four days [1] - The real estate sector experienced a rebound, with stocks like Dayuecheng (000031), Sanxiang Impression (000863), and Wo Ai Wo Jia (000560) hitting the daily limit [1] Declines - The semiconductor industry chain faced a downturn, with companies such as Meike Technology and Jingyi Equipment dropping over 9% [1] - At market close, the Shanghai Composite Index rose by 0.16%, while the Shenzhen Component Index fell by 0.3%, and the ChiNext Index decreased by 0.57% [1]

1月29日，上海市财政局等部门发布通知，经评估，《关于本市开展对部分个人住房征收房产税试点若 干问题的通知》(沪财发〔2020〕18号)需继续实施，有效期延长至2031年1月27日。据悉，《通知》明 确了个人住房房产税试点相关政策执行口径和具体征管事项，主要包括居民家庭住房套数和面积计算、 应税住房计税价格核定、应纳税额计算、申报纳税期、相关信息变化处理等共十个方面。 有效期延长至2031年1月27日 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The prices of the upstream sectors in the chemical and agricultural industries are continuously rising, while the mid - stream and downstream sectors show different trends. There are also important policy releases and event warnings in the production and service industries [1][2]. 3. Summary by Directory 3.1. Mid - level Event Overview - **Production Industry**: Eight departments jointly issued the "Special Action Implementation Plan for 'Artificial Intelligence + Manufacturing'" to promote AI in the manufacturing process. The Ministry of Agriculture and Rural Affairs and the China Meteorological Administration issued a snow disaster warning for facilities agriculture and animal husbandry in some regions from January 29 - 31 [1]. - **Service Industry**: Five departments in Shenzhen issued a three - year plan (2026 - 2028) to optimize the consumption environment, aiming to promote home consumption, improve the smart home industry ecosystem, and encourage the integration of home products with AI [1]. 3.2. Industry Overview 3.2.1. Upstream - **Chemical**: The prices of PTA and polyethylene are continuously rising [2]. - **Agriculture**: The prices of eggs and palm oil are rising [2]. - **Energy**: The international crude oil price has been increased [2]. 3.2.2. Mid - stream - **Chemical**: The PX operating rate remains at a high level [3]. - **Energy**: The coal consumption of power plants has decreased [3]. - **Infrastructure**: The operating rate of road asphalt has declined [3]. 3.2.3. Downstream - **Real Estate**: The sales of commercial housing in first, second, and third - tier cities have seasonally declined [4]. - **Service**: The number of domestic flights has increased [4]. 3.3. Key Industry Price Index Tracking - **Agriculture**: On January 28, the spot prices of corn, eggs, palm oil, cotton, and the average wholesale price of pork showed year - on - year increases of 0.32%, 4.28%, 4.26%, 0.35%, and 0.75% respectively [40]. - **Non - ferrous Metals**: On January 28, the spot prices of copper, zinc, aluminum, and nickel had year - on - year increases of 1.40%, 4.33%, 2.29%, and 0.31% respectively, while one of the aluminum spot prices decreased by 0.66% [40]. - **Ferrous Metals**: On January 28, the spot prices of rebar, iron ore, and wire rod had year - on - year changes of - 0.49%, 0.41%, and - 0.87% respectively [40]. - **Non - metals**: On January 28, the spot prices of glass, natural rubber, and the China Plastic City price index had year - on - year increases of 1.56%, 3.42%, and 0.83% respectively [40]. - **Energy**: On January 28, the spot prices of WTI crude oil, Brent crude oil, liquefied natural gas, and coal had year - on - year changes of 3.36%, 2.57%, 2.16%, and - 0.25% respectively [40]. - **Chemical**: On January 28, the spot prices of PTA, polyethylene, urea, and soda ash had year - on - year changes of 4.10%, 3.70%, - 0.14%, and 0.00% respectively [40]. - **Real Estate**: On January 28, the cement price index, building materials composite index, and concrete price index had year - on - year changes of - 0.49%, - 0.32%, and 0.00% respectively [40].