Economic Overview - The national economy achieved a GDP growth of 5% for the year, successfully meeting the target [2][11] - Exports continued to support growth, benefiting from reduced trade disruptions post the China-US Kuala Lumpur Agreement, with strong growth in the electronic and high-tech product sectors [2] - Investment saw a further decline, with all three major investment categories experiencing downward trends, particularly in manufacturing and real estate [2][4] Industrial Production - Industrial production showed signs of recovery, with the industrial added value for December increasing by 5.2% year-on-year [3] - The mining, manufacturing, and electricity sectors reported growth rates of 5.4%, 5.7%, and 0.8% respectively [3] - Exports contributed positively to industrial production, with a year-on-year increase in export delivery value of 3.2% [3] Investment Trends - Fixed asset investment saw a year-on-year decline of 15.1%, with private investment dropping by 17.2% [4] - Real estate investment experienced a significant decline of 35.8%, while manufacturing investment fell by 10.5% [4] - Infrastructure investment also faced challenges, with traditional and new standards showing declines of 15.9% and 12.2% respectively [4] Consumer Behavior - Retail sales growth slowed to 0.9% in December, marking a new low since 2023, influenced by the real estate cycle and consumer debt [7] - Service consumption showed resilience, with a year-on-year growth rate of 5.5%, supported by policy initiatives [7] - Essential consumer goods saw a decline in growth, while discretionary goods showed a narrowing decline [7] Real Estate Market - Real estate sales area saw a year-on-year decline of 15.6%, although the rate of decline improved compared to November [8] - New construction area decreased by 19.4%, while the completion area also faced a decline [8] - Housing prices continued to drop across various city tiers, with both new and second-hand residential prices decreasing [8] Employment and Economic Stability - The urban unemployment rate remained stable at 5.1%, consistent with previous months [11] - Overall, the economy is facing challenges from external uncertainties and ongoing structural adjustments, with a focus on expanding consumption as a key growth strategy for 2026 [11]

Economic Performance - In December, the national GDP growth for the year reached 5%, successfully meeting the target[10] - The fixed asset investment in December saw a year-on-year decline of 15.1%, an increase of 3.1 percentage points from the previous month[4] - The manufacturing investment dropped by 10.5%, while real estate investment fell by 35.8%[4] Consumption Trends - Retail sales growth in December decreased by 0.4 percentage points to 0.9%, marking the lowest level since 2023[19] - Service retail sales continued to rise, with a cumulative year-on-year growth of 5.5%, indicating strong resilience in service consumption[19] - The average growth rate of essential consumer goods increased to 3.2%, while discretionary goods saw a decline of 4.4%[22] Industrial Production - The industrial added value in December grew by 5.2% year-on-year, with significant contributions from equipment manufacturing and high-tech industries[11] - The mining, manufacturing, and electricity sectors reported growth rates of 5.4%, 5.7%, and 0.8% respectively[11] Real Estate Market - The sales area of real estate in December experienced a year-on-year decline of 15.6%, although this was an improvement from November[25] - Housing prices continued to decline, with both new and second-hand residential prices showing a widening year-on-year drop[10] Employment and Future Outlook - The urban unemployment rate remained stable at 5.1%, consistent with the previous month and year[26] - The report emphasizes that expanding consumption is crucial for stabilizing growth in 2026, with "new infrastructure" and "energy infrastructure" as potential short-term strategies[26]

Market Overview - The specialized equipment sector increased by 0.59% on January 19, with Qiangrui Technology leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Top Gainers in Specialized Equipment Sector - Qiangrui Technology (301128) closed at 113.68, up 16.00%, with a trading volume of 133,000 shares and a transaction value of 1.471 billion [1] - Huayan Precision Machinery (301138) closed at 46.95, up 10.55%, with a trading volume of 107,100 shares and a transaction value of 498 million [1] - Standard Shares (600302) closed at 13.31, up 10.00%, with a trading volume of 335,500 shares and a transaction value of 420 million [1] - Other notable gainers include Zhongjie Resources (002021) up 9.85% and Yansikai (300521) up 9.82% [1] Top Losers in Specialized Equipment Sector - Nanxing Co. (002757) closed at 19.91, down 6.96%, with a trading volume of 579,200 shares and a transaction value of 1.152 billion [2] - Hejian Dunning (603011) closed at 26.88, down 6.70%, with a trading volume of 584,000 shares and a transaction value of 1.576 billion [2] - Other significant losers include Zhanpeng Technology (603488) down 5.88% and Aerospace Engineering (603698) down 4.86% [2] Capital Flow Analysis - The specialized equipment sector experienced a net outflow of 1.391 billion from institutional investors and 189 million from retail investors, while retail investors saw a net inflow of 1.58 billion [2] - Notable stocks with significant capital inflow include Tianqi Co. (002009) with a net inflow of 171 million from institutional investors [3] - Other stocks with notable capital movements include Jerey Co. (002353) and Zhongjie Resources (002021), both showing varying degrees of net inflow and outflow from different investor categories [3]

（文章来源：每日经济新闻） 山东矿机（002526.SZ）1月19日在投资者互动平台表示，公司链条产品主要用于公司煤矿机械产品，个 别产品可以用于船舶。 每经AI快讯，有投资者在投资者互动平台提问：贵公司及子公司生产的索链索具，是否可用于大型船 舶、大型海洋港口、大型水利工程等？ ...

Investment Rating - The report maintains a positive outlook on the Heilongjiang capital market, indicating a bullish trend for 2026, supported by favorable economic conditions and policy implementations [5][20][22]. Core Insights - The report highlights a significant increase in inbound tourism to Heilongjiang, with a 43.8% year-on-year growth in visitor numbers from January 1 to 9, 2026, attributed to visa facilitation measures and the region's unique winter tourism resources [10]. - Heilongjiang's power grid reached a historical peak load of 18.728 million kilowatts on January 14, 2026, reflecting a steady increase in winter electricity demand, with a year-on-year growth of 25.1 thousand kilowatts [11]. - The Heilongjiang index has shown a 3.14% increase since January 2026, maintaining an upward trend despite a slight decline of 1.18% from January 12 to 16 due to market adjustments [20][22]. - The report notes that 11 companies in Heilongjiang have achieved over 5% gains since January, with four companies exceeding 10% growth, including China First Heavy Industries (+34.09%) and Weidi Co., Ltd. (+17.69%) [22][23]. Summary by Sections Inbound Tourism - The report emphasizes the impact of visa policies and winter tourism on the influx of foreign visitors, with specific statistics showing a substantial increase in cross-border traffic at various ports [10]. Power Demand - The report details the record electricity demand in Heilongjiang, outlining measures taken by the State Grid to ensure stable operations during peak loads, including resource allocation and emergency preparedness [11]. Market Performance - The Heilongjiang index's performance is analyzed, indicating a positive trajectory for the year ahead, driven by economic stability and structural upgrades, alongside the effects of favorable policies [20][22]. Company Performance - The report provides insights into the performance of listed companies in Heilongjiang, highlighting strong performers and noting the overall positive sentiment in the market despite some companies experiencing losses [22][23].

Group 1 - The main market experienced a net outflow of 17.805 billion yuan in principal funds as of January 19, with significant withdrawals from various sectors [1] - The top ten sectors with the largest fund outflows included: Semiconductor (-4.467 billion yuan), Internet Services (-3.914 billion yuan), Communication Equipment (-3.685 billion yuan), Non-ferrous Metals (-2.369 billion yuan), Software Development (-2.266 billion yuan), Cultural Media (-1.494 billion yuan), Medical Services (-0.787 billion yuan), Specialized Equipment (-0.727 billion yuan), Consumer Electronics (-0.724 billion yuan), and Securities (-0.711 billion yuan) [1][3] Group 2 - The Medical Services sector saw a fund outflow of 0.787 billion yuan, indicating a negative change of -0.33% [3] - The Specialized Equipment sector experienced a fund outflow of 0.727 billion yuan, with a positive change of 0.63% [3] - The Consumer Electronics sector had a fund outflow of 0.724 billion yuan, reflecting a positive change of 0.4% [3] - The Securities sector recorded a fund outflow of 0.711 billion yuan, with a slight negative change of -0.07% [3]

Group 1 - Zhejiang Mining Co., Ltd. experienced a stock price increase of 5.05% on January 19, reaching 45.54 CNY per share, with a trading volume of 18.93 million CNY and a turnover rate of 0.61%, resulting in a total market capitalization of 4.55 billion CNY [1] - The company, established on September 4, 2003, and listed on June 5, 2020, specializes in the research, design, production, and sales of crushing and screening equipment. Its main business revenue breakdown is as follows: 40.17% from complete crushing and screening production lines, 21.84% from single crushing and screening equipment, 21.13% from operation management, and 16.86% from parts and others [1] Group 2 - Among the top ten circulating shareholders of Zhejiang Mining, a fund under Zhongjia Fund ranks as a new entrant. The Zhongjia Specialized and New Quantitative Stock Selection Mixed Fund A (021990) acquired 343,900 shares, representing 0.5% of the circulating shares, with an estimated floating profit of approximately 753,100 CNY [2] - The Zhongjia Specialized and New Quantitative Stock Selection Mixed Fund A (021990) was established on November 12, 2024, with a current scale of 197 million CNY. Year-to-date returns are 5.96%, ranking 3,262 out of 9,009 in its category, while the one-year return is 67.28%, ranking 995 out of 8,164 [2] Group 3 - The fund manager of Zhongjia Specialized and New Quantitative Stock Selection Mixed Fund A (021990) is Lin Muchen, who has been in the position for 2 years and 269 days. The fund's total asset size is 911 million CNY, with the best return during the tenure being 68.92% and the worst return being -2.12% [3]

Core Viewpoint - Yongchong Intelligent has received approval from the China Securities Regulatory Commission (CSRC) for a simplified procedure to issue shares to specific investors, raising approximately 300 million yuan for a new project and working capital [3][4]. Company Announcement Summary - Yongchong Intelligent's stock closed at 15.55 yuan on January 16, 2026, up 3.87% from the previous week, with a market capitalization of 7.736 billion yuan [1]. - The company plans to issue shares at a price of 11.29 yuan per share, with a total fundraising amount of approximately 300 million yuan, aimed at producing 3,500 sets of digital intelligent solid food packaging equipment and supplementing working capital [2][4]. - The issuance will involve 9 specific investors, with a lock-up period of 6 months [2][4]. - The issuance has passed the necessary board and shareholder meeting approvals and complies with relevant laws and regulations [2][3].

股东户数变动 截至2026年1月9日，公司股东户数为3.18万户，较12月31日增加560户，增幅1.79%。户均持股数量由上 期的1.47万股下降至1.45万股，户均持股市值为65.91万元。 截至2026年1月16日收盘，凌云光（688400）报收于45.18元，较上周的45.51元下跌0.73%。本周，凌云 光1月12日盘中最高价报49.55元。1月15日盘中最低价报43.24元。凌云光当前最新总市值208.27亿元， 在专用设备板块市值排名18/177，在两市A股市值排名1014/5183。 本周关注点 股本股东变化 公司公告汇总 凌云光技术股份有限公司近日收到中国证券监督管理委员会《关于同意凌云光技术股份有限公司向特定 对象发行股票注册的批复》（证监许可〔2026〕28号），同意公司向特定对象发行股票的注册申请。批 复自同意注册之日起12个月内有效。公司将严格按照报送上海证券交易所的申报文件和发行方案实施发 行。如在有效期内发生重大事项，需及时报告并按规定处理。公司董事会将依据批复及相关法规，在规 定期限内办理后续事宜并履行信息披露义务。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备3 ...

Core Viewpoint - The company emphasizes Europe as a crucial direction in its globalization strategy, highlighting its significant market presence and operational capabilities in the region [1] Group 1: European Market Strategy - Europe is currently the company's largest overseas market, showcasing a diverse range of downstream application scenarios and a wide distribution of customers across various industries and regions [1] - The company's European operations include local subsidiaries such as Voithcrane, as well as exports from its domestic brand [1] - The main approach for expanding overseas markets involves direct sales conducted by the group headquarters, subsidiaries, and overseas sales companies [1]