来源：@究竟视频微博 来源：@究竟视频微博 【公司与行业0226丨指数分化超2800股下跌 算力能否扛起主线？】主持人：阳子现场嘉宾：吴文昶、 顾勇菁、陈莉三大指数涨跌分化，超2800只个股下跌，市场连续放量后能否继续上攻？英伟达财报超预 期，CPO、PCB、液冷服务器等算力硬件全线爆发，算力行情空间再打开？从存储涨价到材料涨价，AI 产业链涨价行情持续性如何？GTC大会临近，还有哪些方向值得提前布局？津巴布韦突发锂矿出口禁 令，对锂电产业链影响几何？"铁空气电池" 新技术会否重塑电池产业格局？小金属、燃气轮机等方向 持续走强，哪个更具配置价值？AI 应用板块连续调整，行情是否已经结束？今晚《公司与行业》，吴 文昶、顾勇菁、陈莉重磅坐镇解码！嘉宾陈莉拆解指数分化核心逻辑，预判行情走向；嘉宾吴文昶将拆 解锂电产业链的机会与风险，挖掘周期品种的配置价值。深耕科技赛道嘉宾顾勇菁，将拆解算力产业链 的投资逻辑。 【公司与行业0226丨指数分化超2800股下跌 算力能否扛起主线？】主持人：阳子现场嘉宾：吴文昶、 顾勇菁、陈莉三大指数涨跌分化，超2800只个股下跌，市场连续放量后能否继续上攻？英伟达财报超预 期，CPO、 ...

Core Insights - The global energy storage market is expected to see a significant expansion, with new installed capacity surpassing 100 GW for the first time in 2025, representing a year-on-year growth of 43% [1] - Despite a slowdown in growth anticipated for 2026 due to policy adjustments in major economies, long-term prospects remain strong driven by government tenders and support for distributed energy storage [1] Global Market Overview - By 2025, China will maintain its leading position in global energy storage deployment, accounting for 54% of total installed capacity, supported by renewable energy development goals and strong domestic manufacturing capabilities [2] - The U.S. is projected to see a 53% year-on-year increase in energy storage capacity by 2025, although policy challenges persist, particularly regarding supply chain restrictions [2] - Emerging markets in Europe, the Middle East, and Asia-Pacific are also expanding their energy storage deployments, with Europe expected to see a 160% increase in new installations in 2025 [3] Regional Developments - Germany leads Europe in distributed energy storage, while the UK is at the forefront of large-scale utility projects [3] - In the Middle East, Saudi Arabia is establishing itself as a key emerging market with multiple large-scale projects, despite some delays [3] - Australia is experiencing a 55% growth in its energy storage market, with over 6.5 GW of projects currently under construction [3] Market Segmentation - By 2025, grid-scale energy storage projects will account for 82% of installed capacity, driven by demand for renewable energy integration and government procurement plans [4] - The average storage duration for grid-scale systems is expected to be around 2.5 hours, with continued strong growth anticipated in this sector [4] Technological Advancements - Non-lithium storage technologies such as sodium-ion, flow batteries, and iron-air batteries are beginning to see large-scale applications, with increasing investment and technology initiatives in major markets [5] - These technologies are gaining attention for their unique advantages in fixed storage scenarios, despite currently having higher unit costs compared to lithium-ion batteries [5] Demand Drivers - The year 2026 is identified as a critical year for energy storage as a foundational technology for grids dominated by variable renewable energy sources [6] - Data centers are emerging as a key area for energy storage deployment, helping to increase the share of green electricity and stabilize grid performance [6] - The integration of energy storage with renewable sources like wind and solar is becoming a core driver for scaling up energy storage solutions globally [6]

公司业务状况 滴滴充电于2026年2月26日发布2025年度桩企伙伴运维报告，截至2025年底，合作桩企超800家，充电桩 设备平均异常率低至3.3%，累计提供充电服务超17亿次。报告强调行业正从规模扩张转向体验与效率 并重，并与桩企共建智能运维服务能力。 来源：经济观察网 行业政策与环境 经济观察网 星星充电（万帮数字能源股份有限公司）于2026年1月4日向香港交易所提交招股书，计划 在香港主板上市。招股书显示，公司2025年前三季度营业收入30.72亿元，海外收入占比18.6%，并计划 在非洲、中东、东南亚、南美及北美拓展营销网络。如果上市进程顺利，该公司或成为年内充电桩领域 的重要IPO事件。 行业状况 2026年2月25日，储能领域迎来进展，谷歌宣布在数据中心采用铁空气电池技术，同时东吴证券报告指 出，全球储能需求预计高增长，其中国内大储2026年增速可能超60%，新技术应用可能间接推动充电基 础设施升级。 以上内容基于公开资料整理，不构成投资建议。 国家能源局于2026年2月23日表示，将发布实施新型能源体系及分领域规划，重点加力建设新型能源基 础设施，包括充电设施网络全场景覆盖、大功率充电技术推广 ...

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 1.44% to close at 26,381.02 points, and a total trading volume of 259.27 billion HKD [1] - The Hang Seng China Enterprises Index dropped by 2.44%, while the Hang Seng Tech Index decreased by 2.87% [1] Blue-Chip Performance - Cheung Kong Holdings (00001) saw a notable increase of 4.52%, closing at 64.8 HKD, contributing 12.09 points to the Hang Seng Index [2] - The sale of UK Power Networks by Cheung Kong's subsidiaries was valued at over 110 billion HKD, with each company selling their respective stakes [5] - Other blue-chip stocks like Cheung Kong Infrastructure (01038) and Power Assets Holdings (00006) also reported gains, while New Oriental (09901) and Innovent Biologics (01801) faced declines [2] Sector Highlights - Large technology stocks faced pressure, with Alibaba down 3.57% and Tencent down 2.01% [3] - Power equipment stocks performed strongly, with Dongfang Electric (01072) rising by 15.52% and Harbin Electric (01133) increasing by 7.15% [3] - The AI computing sector saw significant gains, with Tensent Intelligence (09903) up 20.27% following strong earnings from Nvidia [4] Lithium Sector - Lithium stocks experienced volatility, with major players like Contemporary Amperex Technology (03750) and Ganfeng Lithium (01772) showing mixed results due to Zimbabwe's export ban on lithium [6] - The ban is expected to tighten lithium supply, potentially driving prices up significantly [6] Notable Stock Movements - MINIMAX (00100) showed strong performance, rising 4.64% amid positive analyst reports [7] - Conch Cement (00914) fell by 6.97% following a significant share sale by a subsidiary [8] - Hysan Development (00014) dropped 6.88% after releasing its annual results, which showed a slight increase in revenue but a decrease in recurring profit [9] - Yancoal Australia (03668) faced pressure post-earnings, with a 5.63% decline in share price due to a significant drop in revenue and profit [10]

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 1.44% to close at 26,381.02 points, and a total trading volume of 259.27 billion HKD [1] - The Hang Seng Tech Index dropped by 2.87%, while the Hang Seng China Enterprises Index decreased by 2.44% [1] Blue-Chip Performance - CK Hutchison Holdings (00001) saw a notable increase of 4.52%, closing at 64.8 HKD, contributing 12.09 points to the Hang Seng Index [2] - The sale of UK Power Networks by CK Hutchison's subsidiaries was valued at over 110 billion HKD, with each company selling their respective stakes [5] Sector Highlights - Power equipment stocks performed strongly, with Dongfang Electric (01072) rising by 15.52% and Harbin Electric (01133) increasing by 7.15% [3] - The demand for power systems is expected to rise due to electricity shortages in the U.S., benefiting gas turbines and energy storage sectors [3] Computing Power Sector - Computing power stocks generally rose, with Tianzuo Zhixin (09903) increasing by 20.27% [4] - NVIDIA reported significant revenue growth, indicating a surge in demand for computing power driven by AI advancements [4] Lithium Sector - Lithium stocks experienced volatility, with major players like Contemporary Amperex Technology (03750) declining by 6.49% [6] - Zimbabwe's ban on lithium exports is expected to tighten supply and potentially increase lithium prices [6] Notable Stock Movements - MINIMAX (00100) rose by 4.64%, attributed to its advancements in AI technology [7] - Conch Cement (00914) fell by 6.97% following a significant share sale by a subsidiary [8] - Hysan Development (00014) dropped by 6.88% after releasing its annual performance report [9] - Yancoal Australia (03668) faced pressure post-earnings, with a revenue decline of approximately 13% [10]

智通财经APP获悉，锂电池概念下挫，截至发稿，中创新航(03931)跌8.6%，报25.21港元；宁德时代 (03750)跌5.82%，报502港元。 另据媒体报道称，谷歌正重押"铁空气电池"。这类被称为"铁空气电池"的新型设备，能够提供长达100 小时的稳定电力，相较于现行主流锂电池仅能维持4至8小时的限制，此技术大幅提升了绿能设施的使用 寿命。 消息面上，受津巴布韦禁令刺激，碳酸锂期货主力合约今早开盘一度涨超11%。2月25日，津巴布韦矿 业部发布锂矿出口禁令，旨在加强矿产监管，推动矿产品深加工发展。中信证券指，2025年中国19%的 进口锂精矿来自津巴布韦，预计2026年津巴布韦锂资源产量占全球12%，该国的锂矿出口禁令将导致中 国碳酸锂短期供应愈发紧缺，有望推动锂价大幅上涨。 ...

消息面上，受津巴布韦禁令刺激，碳酸锂期货主力合约今早开盘一度涨超11%。2月25日，津巴布韦矿 业部发布锂矿出口禁令，旨在加强矿产监管，推动矿产品深加工发展。中信证券指，2025年中国19%的 进口锂精矿来自津巴布韦，预计2026年津巴布韦锂资源产量占全球12%，该国的锂矿出口禁令将导致中 国碳酸锂短期供应愈发紧缺，有望推动锂价大幅上涨。 另据媒体报道称，谷歌正重押"铁空气电池"。这类被称为"铁空气电池"的新型设备，能够提供长达100 小时的稳定电力，相较于现行主流锂电池仅能维持4至8小时的限制，此技术大幅提升了绿能设施的使用 寿命。 锂电池概念下挫，截至发稿，中创新航(03931)跌8.6%，报25.21港元；宁德时代（300750）(03750)跌 5.82%，报502港元。 ...

2026 年 2 月 26 日星期四 【实时热点】 【美国债市】 请务必阅读免责条款 资料来源：BLOOMBERG、AASTOCKS、WIND、格隆汇、国元证券经纪（香港）整理 1 证 券 研 究 报 告 美贸易代表：美对部分国家加征的"全球进口关税"税率或达 15% 韩国出生人口连续两年回升 总和生育率升至 0.8 泰国央行意外将关键利率下调 25 个基点至 1% 我国科学家取得锂电池核心技术首创性突破 续航力成倍提 升 人民币对美元汇率突破 6.87，创近三年新高 上海发布楼市新政"沪七条"，非沪籍购房大松绑 港交所将就推动"T+1"结算周期的具体实施方案咨询市场 英伟达 Q4 财报亮眼 公司称算力需求依然饥渴 消息称谷歌正重押"铁空气电池"，可提供长达 100 小时稳定 电力 SK 海力士拟在韩国投资 151 亿美元，以扩建芯片产能 2 年期美债收益率涨 3.10 个基点报 3.471% 5 年期美债收益率涨 3.29 个基点报 3.622% 10 年期美债收益率涨 2.10 个基点报 4.052% 【经济数据】 | 重要指数 | 收市价 | 涨跌(%) | 海外市场重要指数 | 收市价 | 涨跌(%) ...

2月26日，A股三大股指开盘走势分化，其中沪指涨0.09%报4151.07点，深成指涨0.14%报14495.86点， 创业板指跌0.24%报3346.74点，科创50指数涨0.37%报1478.73点。锂矿概念大幅高开，金圆股份封一字 涨停，江特电机、永杉锂业、国城矿业、大中矿业、融捷股份、永兴材料等涨幅靠前；磷化工板块延续 强势，澄星股份3连板，六国化工、和邦生物、川发龙蟒、湖北宜化、云天化跟涨。昨日市场冲高回 落，创业板指盘中一度涨超2%，沪深两市成交额达2.2万亿，全市场超4000只个股上涨，其中109只个 股涨停。 盘面上，市场焦点股豫能控股（5板）高开0.09%，电网设备板块汉缆股份（4板）低开0.61%，光纤光 缆概念股法尔胜（3板）低开0.41%，算力工程概念股罗曼股份（3板）低开0.01%，有色金属板块江钨 装备（5天4板）高开2.03%，磷化工板块澄星股份（2板）高开10.03%。 公司动态：减持、停牌、更名与立案，多事交织 牧原股份：公司于2026年2月25日召开第五届董事会第十三次会议，审议通过《关于变更公司名称的议 案》，拟将公司名称由"牧原食品股份有限公司"变更为"牧原食品集团股份 ...

Group 1 - Nvidia reported Q4 FY2026 revenue of $68.1 billion, a 73% year-over-year increase, exceeding market expectations of $65.684 billion [2] - Data center revenue reached $62.3 billion, surpassing analyst expectations of $60.62 billion, while networking business revenue was $10.98 billion, significantly above the expected $9.02 billion [2] - Nvidia's guidance for the next quarter projects revenue between $76.44 billion and $79.56 billion, with the midpoint significantly higher than the market consensus of $72.78 billion [2] Group 2 - SK Hynix plans to invest 21.6 trillion KRW (approximately $15.1 billion) to expand chip production capacity in South Korea from March 2026 to December 2030 [5] - Haiguang Information reported a net profit of approximately 2.542 billion yuan for 2025, a 31.66% year-over-year increase, with total revenue of 14.376 billion yuan, up 56.91% [7] - Meizu's mobile business is reportedly ceasing operations and will officially delist in March 2026, with indications of significant financial distress [8] Group 3 - The Hong Kong Stock Exchange is consulting the market on the implementation of a "T+1" settlement cycle as part of its efforts to optimize the securities market [11] - Morgan Stanley forecasts that gold prices will reach $6,300 per ounce by the end of 2026, raising its long-term forecast to $4,500 per ounce [12] - The Shanghai government has announced new real estate policies, including adjustments to purchase requirements for non-local residents, effective February 26, 2026 [17]