证券之星消息，2月27日南向资金减持24.2万股中信资源（01205.HK）。近5个交易日中，获南向资金减 持的有5天，累计净减持41.4万股。近20个交易日中，获南向资金减持的有20天，累计净减持406.8万 股。截至目前，南向资金持有中信资源（01205.HK）7056.41万股，占公司已发行普通股的0.89%。 中信资源控股有限公司是一家主要从事勘探和销售天然资源业务的投资控股公司。该公司通过四个部门 运营业务。原油分部主要从事在印尼和中国经营油田和销售原油业务。电解铝分部主要从事经营电解铝 厂及于澳大利亚从事销售铝锭业务。煤分部主要从事在澳大利亚营运煤矿和销售煤业务。进出口商品分 部主要从事进口其他商品和制成品业务。 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310104345710301240019号），不构成 投资建议。 ...

中信资源控股有限公司是一家主要从事勘探和销售天然资源业务的投资控股公司。该公司通过四个部门 运营业务。原油分部主要从事在印尼和中国经营油田和销售原油业务。电解铝分部主要从事经营电解铝 厂及于澳大利亚从事销售铝锭业务。煤分部主要从事在澳大利亚营运煤矿和销售煤业务。进出口商品分 部主要从事进口其他商品和制成品业务。 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310104345710301240019号），不构成 投资建议。 证券之星消息，2月26日南向资金减持10.8万股中信资源（01205.HK）。近5个交易日中，获南向资金减 持的有5天，累计净减持20.6万股。近20个交易日中，获南向资金减持的有20天，累计净减持397.6万 股。截至目前，南向资金持有中信资源（01205.HK）7080.61万股，占公司已发行普通股的0.89%。 ...

文 | 赵伟、屠强 联系人 | 屠强、 耿佩璇 事件： 2月11日，国家统计局公布1月通胀数据，CPI同比0.2%、前值0.8%、预期0.4%、环比0.2%；PPI同 比-1.4%、前值-1.9%、预期-1.5%、环比0.4%。 核心观点：1月通胀分化，背后源于春节错位、输入性因素拉动提升，需求偏弱共同影响 1月PPI降幅明显收窄，主因铜价对PPI的拉动进一步增加，基期轮换也有一定程度的影响。 1月PPI环比 0.4%，同比上行0.5个百分点至-1.4%。我国价格指数每五年进行一次基期轮换，2026年开始为新一轮基 期轮换调整，但对每月PPI同比的影响仅为0.08个百分点。更重要的是，1月铜价涨幅扩大，相应有色采 选、有色压延业价格环比分别5.7%、5.2%， 拉动PPI环比0.5% ，为最强贡献项。钢价对PPI贡献也为 正， 拉动PPI环比0.1%。 相比之下，煤油等大宗商品价格、中下游PPI表现偏弱。 国际原油价格下行影响国内石油开采、精炼石 油产品制造价格分别下降3.1%和2.5%， 油价拖累PPI环比-0.08% ，煤价也有走弱， 拖累PPI环比-0.15% 。中下游产能利用率也未明显改善，导致上游涨 ...

Group 1: Production Trends - In January, the manufacturing PMI dropped to 49.3%, a decrease of 0.8 percentage points, indicating a contraction in manufacturing activity[3] - The average PMI over the past two months shows a recovery trend, rising 0.5 percentage points to 49.7% compared to November 2025[14] - The operating rate of blast furnaces in the metallurgical chain increased by 2.2 percentage points year-on-year to 1%[21] Group 2: Demand Insights - Export activity is expected to remain strong due to a delayed Spring Festival, with foreign trade cargo volume increasing by 13.9% year-on-year in the weeks leading up to the festival[5] - Retail sales are projected to see a slight rebound of approximately 1.9% in January-February 2026, supported by extended holiday periods and local consumption stimulus policies[39] - The government has introduced significant consumption vouchers in various regions, with Henan and Hubei issuing a total of 2 billion yuan in vouchers to stimulate spending[42] Group 3: Price Dynamics - The PPI is expected to show weak recovery, with January PPI at -1.4% year-on-year, reflecting limited transmission of upstream price increases to downstream sectors[59] - CPI is anticipated to exhibit a "V-shaped" trend, with January CPI declining to 0.2% year-on-year, but expected to rebound significantly in February due to seasonal factors[64] - Core CPI, excluding gold and silver, is likely to remain low due to weak demand and reduced government subsidies[64]

宏 观 研 究 通胀数据 2026 年 02 月 11 日 如何理解 1 月通胀分化？ —— 通胀数据点评（26.01） 事件：2 月 11 日，国家统计局公布 1 月通胀数据，CPI 同比 0.2%、前值 0.8%、预期 0.4%、 环比 0.2%；PPI 同比-1.4%、前值-1.9%、预期-1.5%、环比 0.4%。 相比之下，煤油等大宗商品价格、中下游 PPI 表现偏弱。国际原油价格下行影响国内石油 开采、精炼石油产品制造价格分别下降 3.1%和 2.5%，油价拖累 PPI 环比-0.08%，煤价 也有走弱，拖累 PPI 环比-0.15%。中下游产能利用率也未明显改善，导致上游涨价对中 下游的拉动相对有限，测算中下游仅拉动 PPI 环比 0.1%。 受春节错位的影响，1 月 CPI 同比明显回落；但剔除该因素后，CPI 整体仍偏弱。统计局 测算本轮基期轮换对每月 CPI 同比的影响是 0.06 个百分点。今年春节假期与 2025 年形成 错位，导致 1 月同比较前月回落 0.6 个百分点至 0.2%。而 1 月 CPI 环比仅 0.2%、明显低 于往年春节前月的 CPI 表现（0.6%），反映整体 C ...

Core Viewpoint - The Baltic Dry Index (BDI) has declined to a two-week low, pressured by weak freight rates for Capesize and Panamax vessels [1] Group 1: Baltic Dry Index (BDI) Performance - The BDI fell by 28 points, or 1.5%, to 1895 points, marking the lowest level since January 26 [1] - The Capesize Index (BCI) decreased by 85 points, or over 2.9%, to a two-week low of 2833 points [1] - Daily earnings for Capesize vessels dropped by $776 to $22,189 [1] Group 2: Panamax and Supramax Vessel Performance - The Panamax Index (BPI) declined by 4 points, or 0.2%, to 1648 points [1] - Daily earnings for Panamax vessels fell by $36 to $14,829 [1] - The Supramax Index (BSI) increased by 10 points, or 0.9%, to 1114 points [1] - The Handysize Index (BHSI) rose by 1 point to 639 points [1]

中信资源控股有限公司是一家主要从事勘探和销售天然资源业务的投资控股公司。该公司通过四个部门 运营业务。原油分部主要从事在印尼和中国经营油田和销售原油业务。电解铝分部主要从事经营电解铝 厂及于澳大利亚从事销售铝锭业务。煤分部主要从事在澳大利亚营运煤矿和销售煤业务。进出口商品分 部主要从事进口其他商品和制成品业务。 证券之星消息，2月6日南向资金减持5.0万股中信资源（01205.HK）。近5个交易日中，获南向资金减持 的有5天，累计净减持60.4万股。近20个交易日中，获南向资金减持的有20天，累计净减持411.4万股。 截至目前，南向资金持有中信资源（01205.HK）7091.41万股，占公司已发行普通股的0.9%。 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310104345710301240019号），不构成 投资建议。 ...

Core Viewpoint - Australia's merchandise trade surplus reached approximately AUD 3.373 billion (about RMB 16.338 billion) in December 2025, marking an increase of about AUD 776 million compared to the adjusted surplus in November [1] Group 1: Trade Data Summary - In December, Australia's merchandise exports increased by approximately 1% month-on-month, reaching about AUD 44.632 billion, while imports decreased by about 0.8% to approximately AUD 41.259 billion [1] - Rural goods exports rose by approximately 2.5% month-on-month to about AUD 7.108 billion, while non-rural goods exports increased by about 1% to approximately AUD 31.861 billion [1] - Non-monetary gold exports decreased by approximately 0.9% to about AUD 5.575 billion, while net exports of goods under merchanting remained unchanged at about AUD 89 million [1] Group 2: Economic Insights - After experiencing significant volatility, Australia's merchandise trade stabilized by the end of the year, with the trade surplus fluctuating between AUD 1 billion and AUD 6.4 billion throughout 2025 [2] - The export structure showed that exports to China reached their highest level in two years, while exports to the U.S. saw a slight increase, with gold making up a significant portion of the exports [2] - The basic trend of Australia's exports will depend on global demand for major commodities, which is expected to remain subdued, while rural goods exports may decline due to tightening domestic supply [2]

Core Viewpoint - The article highlights the continuation of technology and resource prosperity, indicating a potential turning point for domestic demand, driven by AI infrastructure investment and signs of recovery in consumer spending [2]. Group 1: Economic Indicators - Global technology hardware demand remains strong, with a temporary slowdown in storage chip price increases, yet prices remain high [2]. - Resource prices are experiencing localized increases, particularly in chemical products with significant supply constraints, while non-ferrous metal supply remains tight [2]. - Consumer recovery shows some positive signs, with high-end liquor prices stabilizing and progress in real estate policies, suggesting a potential stabilization in domestic demand [2]. Group 2: Downstream Consumption - High-end liquor prices, such as Moutai, have increased by 3.9% for original and 3.0% for bulk, likely due to pre-Spring Festival gifting demand [3]. - Real estate transactions in 30 major cities decreased by 23.1% year-on-year, with first-tier cities seeing a drop of 41.6% [3]. - Retail sales of passenger cars fell by 22.0% year-on-year, indicating ongoing pressure in the durable goods sector [3]. Group 3: Technology & Manufacturing - Storage price increases have slowed, with DRAM prices showing mixed trends; DDR4 prices decreased by 1.3% while DDR5 prices increased by 1.4% [4]. - Chemical product prices remain strong, with PX and PTA prices increasing by 5.2% and decreasing by 0.4%, respectively [4]. - Coal prices rose by 1.0% due to a brief cold snap, while industrial metal prices experienced significant volatility influenced by changes in Federal Reserve leadership [4]. Group 4: Logistics and Transportation - Passenger transport demand remained stable before the holiday, with a slight decrease of 0.2% in major cities [5]. - Freight logistics demand increased, with highway truck traffic and railway freight volume rising by 4.8% and 2.3% year-on-year, respectively [5]. - Port throughput showed a rebound, indicating a potential recovery in export activity [5].

2026年2月4日，美锦能源（sz000723）触及涨停，涨停价5.17元，涨幅10%，总市值227.66亿元，流通 市值227.24亿元，截止发稿，总成交额8.03亿元。 声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 根据喜娜AI异动分析，美锦能源涨停原因可能如下，资金效率优化+战略调整+评级稳定： 1、美锦能源 积极优化资金使用效率，终止低效项目并将剩余募集资金转为流动资金，提高了资金使用灵活性。同时 公司及时进行战略调整，终止进展不顺的氢能项目，转向轻资产合作模式，降低了投资风险。这些举措 有利于公司提升经营状况，对股价形成利好。 2、评级机构维持公司主体和债券信用等级为A+，评级 展望稳定，这表明公司在信用层面具有一定的稳定性，增强了市场 ...