Market Overview - The market experienced a low open followed by a rebound, but overall profitability remained poor [3] - The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index closed down by 0.25%, 0.33%, and 0.73% respectively, with total trading volume shrinking to 2.1 trillion [4] Sector Performance - The Traditional Chinese Medicine sector opened high but showed a trend of high open and low close [3] - The PCB sector saw a strong morning performance with stocks like Shenzhen South Circuit hitting the daily limit, but retreated in the afternoon [3] - Solid-state and sodium-ion battery stocks showed localized strength, with several stocks hitting the daily limit [3] - The space photovoltaic sector rebounded in the afternoon, with stocks like GCL-Poly Energy achieving three consecutive daily limits [3] AI Applications - AI application stocks faced significant declines, following a downturn in the Nasdaq index, marking the worst three-day drop since April 2025 [9] - Notable declines included FaceSet dropping over 7% and Thomson Reuters falling over 5% [9] - The release of a new AI model by Anthropic raised concerns about potential disruptions to traditional software business models, leading to market panic [9] Precious Metals - Precious metals like silver and gold experienced violent declines in overseas markets, leading to a significant drop in A-share prices [13] - Despite initial low openings, the sector saw a collective rebound, with stocks like Hunan Gold hitting the daily limit [13] - Overall, most precious metal stocks ended the day either slightly up or down, with gold rising by 0.76% and silver down by only 1% [13] Company-Specific Events - Alibaba's Qianwen launched a promotional event offering free milk tea, which generated significant online buzz and led to a surge in related concept stocks [7] - The event caused a temporary disruption to the Qianwen platform due to high traffic, but also positively impacted stocks in the "milk tea" sector [7]

投资咨询业务资格：证监许可【2012】669号 股指期货：股市缩量收跌，⼤消费季节性⾛强。 股指期权：隐波⾛势分化，情绪指向区间博弈。 国债期货：国债期货全线⾛⾼。 股指期货⽅⾯，股市缩量收跌，⼤消费季节性⾛强。周四沪指收跌， 板块出现春节前的季节性特征，补涨集中在低位大消费，影视、美容护 理、旅游酒店、食品零售等春节消费股走强。另外，银行、券商等金融权 重板块午后崛起，对应算力硬件、太空光伏等题材补跌，有色股跟随商品 价格再度下行。美股AMD财报业绩下滑，引发市场对AI资本开支和利润又 一次的担忧，对应算力链条承压，向A股传导。参考2008年以来的历史规 律，春节前易呈现价值红利占优，特别是节前遇到缩量环境，但长假后流 动性恢复，政策偏暖难证伪的环境中，小盘成长的胜率最高。因此在全年 成长风格的趋势中，我们看长做短，捕捉月度机会，节前低吸IM多单，以 待进攻。 股指期权⽅⾯，隐波⾛势分化，情绪指向区间博弈。股指期权方面， 周四标的震荡调整，大盘风格强于小盘。波动率方面，各品种期权隐波走 势分化，50、300期权延续降波，当前走至近半年65-70%分位，中证 1000、科创50ETF期权隐波小幅上升。情绪指标 ...

来源：市场资讯 （来源：价值研学社） 今天，沪指收了个缩量阳十字星，两市跌家数超3700只，市场整体成交额明显缩量，市场亏钱效应持续 发酵，各热点板块轮动节奏加快且缺乏持续性，题材炒作普遍呈现一日游特征。资金整体风险偏好断崖 式下降，从高弹性题材板块向低风险的避险板块转移，多数板块均缺乏有效赚钱效应。 金银方向也再度出现大幅下挫，截至目前，现货伦敦金在4830美元/盎司左右，跌幅近3%，现货伦敦金 银75美元/盎司左右，跌幅超15%。此外，加密货币也在暴击，bit币跌破70000美元了。 今天，AI应用方向呈现缩量震荡、局部修复态势，整体表现为指数调整、结构分化，叠加消费属性的 细分方向相对强势，资金避险情绪下板块内部分化加剧。 消息面上 1）阿里千问近期动作频频，马云近日低调现身杭州阿里总部千问项目组办公楼为团队打气，恰逢项目 关键节点。千问即将启动30亿春节请客计划，还落地奥运史上首个官方大模型，阿里云同步内测AI视 频创作工具 "万镜一刻"。 2）豆包App官方发布消息，官宣今年除夕将为用户送上 "硬核" 好礼，目前具体福利内容暂未公布，有 网友猜测，春节期间豆包的抽奖活动中，可能会加入相关惊喜产品作为 ...

近期，SpaceX提交百万颗级算力卫星星座计划，再度引爆太空光伏概念。 事实上，太空光伏产业的布局早已启动。2025年11月，马斯克首次对外披露，计划将AI数据中心发射至太空，其核心目标是依托太空太 阳能资源，解决大规模算力运行过程中的电力供给问题。2026年1月，在达沃斯世界经济论坛上，马斯克进一步明确规划，未来3年内特 斯拉与SpaceX将联合在美国新增年产能达200GW的光伏产能，其中相当一部分产能将专门服务于太空光伏领域发展需求。 从成本维度来看，根据方正证券数据，电源结构在卫星平台总成本中的占比高达22%，是卫星制造成本的核心组成部分之一。随着卫星 发射数量呈现指数级增长，如何降低电源结构的制造成本正逐步成为推动太空光伏大规模应用的核心议题。 根据美国联邦通信委员会最新披露的文件显示，SpaceX正在推进一项规模空前的太空算力卫星星座建设计划，规划部署的卫星数量高达 100万颗，卫星将采用太阳能供电模式，引发市场对于太空光伏行业需求或将超预期爆发的强烈预期。 从行业发展逻辑来看，随着全球商业航天产业逐步步入高速发展通道、卫星星座规模实现快速增长，以及太空AI算力中心对稳定能源的 需求持续扩大，太空光 ...

2月5日，A股三大指数回调。截至收盘，上证指数跌0.64%，深证成指跌1.44%，创业板指跌1.55%。 从板块来看，大消费板块大涨，其中零售概念午后拉升，茂业商业4分钟内直线涨停，走出5天3板；大金融板块午后走强，华林证券、厦门银行涨停；商 业航天概念局部活跃，神剑股份3天2板；算力租赁概念回暖，群兴玩具4天2板，二六三涨停。 贵金属概念集体大跌，湖南白银跌停。今日，黄金、白银盘中直线跳水，伦敦银现一度跌超16%，伦敦金现盘中跌破4800美元/盎司。 此外，电网设备、油气等板块跌幅居前，太空光伏概念大幅回调。 零售概念午后拉升 今日，大消费板块大涨，食品饮料、零售、影视院线、旅游酒店方向轮番活跃。 银行板块表现强势，厦门银行涨停，重庆银行、上海银行等涨幅居前。 市场观点认为，从2026年资金趋势以及策略逻辑来看，一方面高股息红利资产需求仍在，银行板块依然具备稀缺配置价值。 中邮证券预计，2026年保险行业新增入市资金或将超过2万亿元，险资对于可提供4%以上股息率的红利资产需求将逐步上行。此外，财信证券认为，公募 基金当前配置银行股仍处于低位，未来仍有增配空间；银行作为指数权重股，有望受益于被动指数基金扩容。 ...

上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限量发放！先到先得！ 其中，零售概念午后拉升，茂业商业4分钟内直线涨停，走出5天3板。 茂业商业此前 发布股票交易异常波动公告称，公司股票于1月30日、2月2日连续两个交易日内日收 盘价格涨幅偏离值累计达到20%。 经公司财务部门初步测算，预计公司2025年实现归属于上市公 司股东的净利润为亏损2.01亿元至2.42亿元。 消息面上，2月5日，财政部、海关总署、税务总局三部门联合发布《关于海南自由贸易港岛内居民 消费的进境商品"零关税"政策的通知》。 《通知》提出，对海南自由贸易港岛内居民在指定经营 场所购买的进境商品，在免税额度和商品清单范围内免征进口关税、进口环节以及国内环节增值税 和消费税。 此外，2025年以来，受益于AI技术应用爆发，智慧零售增长动能明显增强 ，在补货、巡检、营销 与客服等环节释放清晰的提质增效回报 。 国际咨询机构弗若斯特沙利文 2月3日发布的《中国智慧 零售市场追踪报告》显示，预计到2030年，智慧零售市场规模将增长至约645亿元，年复合增长率 达22%。 今日，A股三大指数回调。截至收盘，上证指数跌0.64% ...

Market Overview - The three major A-share indices collectively declined, with the Shanghai Composite Index down 0.64% to 4075 points, the Shenzhen Component Index down 1.44%, and the ChiNext Index down 1.55% [1][2] - The total market turnover was 2.19 trillion yuan, a decrease of 309 billion yuan compared to the previous trading day, with over 3700 stocks declining [1] Sector Performance - Precious metals stocks experienced significant declines, with Hunan Silver and Sichuan Gold dropping over 9%, and Xiaocheng Technology falling more than 10% [4][5] - The space photovoltaic concept stocks entered a "cooling period," with several stocks, including Junda Co. and Shuangliang Energy, hitting the daily limit down [2][6] - Lithium mining stocks also saw collective declines, with Ganfeng Lithium and Tianqi Lithium both dropping over 6% [7][8] - The tourism sector showed strength, with Sanxia Tourism hitting the daily limit up and Shaanxi Tourism rising over 8% [9][10] - New retail concept stocks were active, with companies like Huangting Hotel and Maoye Commercial hitting the daily limit up [11][12] - Bank stocks performed well, with Xiamen Bank hitting the daily limit up and Chongqing Bank rising over 5% [13] Key Stock Movements - Notable declines in precious metals included Xiaocheng Technology at -10.20%, Hunan Silver at -9.97%, and Sichuan Gold at -9.79% [5] - In the space photovoltaic sector, significant drops included Optech at -12.51% and Jiejia Weichuang at -12.39% [6] - Lithium stocks saw Ganfeng Lithium at -6.31% and Tianqi Lithium at -6.27% [8] - In the tourism sector, Sanxia Tourism rose by 10% and Shaanxi Tourism by 8.57% [10] - New retail stocks like Huangting International rose by 10.11% and Maoye Commercial by 10.04% [12] - Bank stocks showed strong performance with Xiamen Bank at +9.99% and Chongqing Bank at +5.73% [13]

2月5日，A股三大股指集体走低，创业板指跌幅一度扩大至2%，市场情绪略显低迷。截止午盘，沪指 跌42.29点，跌幅1.03%报4059.91点，深成指下跌255.95点，跌幅1.81%报13900.33点，创业板指下跌 64.24点，跌幅1.94%报3247.27点，沪深两市半日成交额1.45万亿，较上个交易日缩量1682亿，全市场超 3600只个股下跌。 盘面热点较为杂乱，大消费（核心股）板块大涨，食品饮料、零售、影视（核心股）院线方向涨幅居 前，横店影视6天5板，杭州解百2连板，安记食品、海欣食品、金逸影视涨停。阿里概念局部异动，新 华都直线涨停。算力（核心股）租赁概念回暖，二六三封涨停。银行板块逆势拉升，厦门银行涨超 6%。下跌方面，贵金属概念集体大跌，湖南白银跌停。算力硬件概念持续下挫，德科立、太辰光跌超 10%。 热门板块表现分化 存储芯片等算力（核心股）硬件股持续低迷： 存储芯片、光模块等算力（核心股）硬件股成为市场下跌的"重灾区"。炬光科技跌近10%，长飞光纤跌 逾8%，天通股份、亨通光电、罗博特科、德科立等纷纷跟跌，跌幅居前。 消息面上，美国软件板块周三遭遇2022年以来最严重的抛售，这场由软 ...

市场早间震荡调整，三大指数均跌超1%。大消费板块逆势走强，美容护理、影视、食品等方向领涨， 拉芳家化、浙文影业、横店影视、海欣食品等多股涨停。下跌方面，太空光伏概念调整，钧达股份、双 良节能等跌停；贵金属板块下挫，湖南黄金、湖南白银触及跌停。个股跌多涨少，沪深京三市超3700股 飘绿，上午半天成交1.46万亿。午间收盘沪指跌1.03%，深成指跌1.81%，创业板跌1.94%。 ...

Market Overview - The Hang Seng Index showed minor fluctuations, closing up by 0.05%, but structural issues in the market are prominent [1] - The U.S. Navy has increased its military presence in the southern waters of Iran, with around 32 vessels reported as of February 3 [1] - Gold stocks, such as WanGuo Gold International, saw a rise of over 7% [1] Trade Agreements - The U.S. has reduced tariffs on Indian imports from 50% to 18%, but details of the trade agreement remain unclear [1] - India is shifting towards a more pragmatic approach in its economic development, moving away from previous over-optimism [1] Technology Sector - The technology sector is facing challenges, particularly in AI and gaming, with significant stock declines in companies like TIS and Trend Micro [3] - Samsung Electronics' market value surpassed 1 trillion Korean won (approximately 68.8 billion USD) due to strong demand for storage chips [2] - Chinese companies in the semiconductor space, such as Zhongji Xuchuang and Han's Laser, are experiencing stock declines [2] Energy Sector - Hydrogen energy is gaining traction, with the Ministry of Industry and Information Technology planning to increase green hydrogen production to 250,000 tons per year by 2025 [3] - Companies like Guofu Hydrogen Energy and Zhongshun Energy have seen stock increases of over 18% and 12%, respectively [3] Coal Industry - Indonesia's government has announced significant coal production cuts, impacting China's coal supply by 5.3% [4] - Major coal companies like Yanzhou Coal and China Coal Energy have seen stock increases of over 8% due to these developments [4] Aerospace and Technology - SpaceX announced the acquisition of xAI, aiming to integrate AI with space technology, which could lead to significant advancements in energy production and storage [5] - Companies in the solar energy sector, such as GCL-Poly and Xinyi Solar, are also performing well, with stock increases of over 2% [6] Real Estate Market - China Construction Bank is supporting the acquisition of second-hand housing for rental projects in Shanghai, which is expected to improve inventory turnover in major cities [6] - Real estate companies like Yuexiu Property and China Resources Land have seen stock increases of over 5% [6] Aviation Sector - The Spring Festival travel season has begun, with a 5.3% year-on-year increase in passenger volume on the first day [7] - Major airlines like China Eastern and China Southern have reported significant stock increases of over 5% due to improved performance and cost management [7] Digital Economy - The Guangdong government is promoting digital consumption and smart services, focusing on areas like autonomous driving and smart tourism [8] - Companies involved in autonomous driving, such as Youjia Innovation and Horizon Robotics, are expected to benefit from these initiatives [8] Company-Specific Developments - China Shipbuilding Defense announced a new contract for the construction of 16 container ships, valued between 736 million to 896 million USD, which is expected to positively impact cash flow and future performance [9] - The company anticipates a significant increase in net profit for 2025, with projections of 9.4 to 11.2 billion CNY, reflecting a year-on-year growth of 149.61% to 196.88% [9]