【解剖大盘】 美国1月非农数据超预期，导致美联储3月降息概率从20%骤降至8%，如果晚间CPI数据再助力一下，对 股市自然就很不利。 AI恐慌引发纳指大跌超2%，直接引发各种连锁反应，比如说黄金，股市大跌，投资者抛售黄金补保证 金填补流动性，这种情况比较常见，非黄金基本面恶化。 反复提到的大模型概念相当凶悍，智谱(02513)专为AI编码打造的订阅制付费套餐GLM Coding Plan宣布 涨价。官方称GLM Coding Plan市场需求持续强劲增长，用户规模与调用量快速提升。敢于提价是背后 的实力的：在三个大Agent 评测基准上，GLM-5均为开源第一；GLM-5 Coding 能力逼近 Claude Opus 4.5；模型参数的翻倍直接拉动推理成本提高。大模型发展到现在，就是剩者为王，最终被消费者使用 的就容易变现。提价就是最好的催化，今天智谱(02513)再度大涨超20%。MiniMax+(00100)涨超15%+， 双双创历史新高。预计在春节后期间内地资金缺失的情况下，外资会重点炒作拉高股价。 2月12日，工信部公开征求《智能网联汽车 自动驾驶系统安全要求》等强制性国家标准的意见。该标准 将代替 ...

Investment Rating - The report initiates coverage on Nanshan Aluminum International with a "Buy" rating, assigning a target price of HKD 78.18 based on a PE of 13 times for 2026 [1]. Core Views - Nanshan Aluminum is a leading alumina producer in Southeast Asia with a stable cash flow and high growth potential, having established a production capacity of 4 million tons of alumina and plans for additional aluminum production [1][2]. - The company benefits from significant cost advantages in its alumina business due to Indonesia's rich bauxite resources and export bans, leading to higher profitability compared to domestic averages [2][14]. - A new 250,000-ton aluminum production capacity is expected to be operational by 2028, which could significantly boost future earnings [3][15]. - The global aluminum price is projected to reach an average of USD 3,200 per ton in 2026, supported by limited supply growth and recovering demand [4][16]. Summary by Sections Company Overview - Nanshan Aluminum International is primarily engaged in alumina production and sales, with a production base in Indonesia. The company has a total alumina capacity of 4 million tons, benefiting from low raw material costs [2][14]. - The company is controlled by Nanshan Aluminum, which holds a 56.97% stake, ensuring stable governance and resource support [18][20]. Financial Performance - The company has shown strong revenue growth, with projected revenues of USD 1.2 billion, USD 1.48 billion, and USD 1.6 billion for 2025, 2026, and 2027, respectively. Net profits are expected to reach USD 412.1 million, USD 475.3 million, and USD 568.3 million in the same years [5][11]. - The company has maintained a high gross margin, with a projected gross profit margin of 51% in the first half of 2025 [21][27]. Market Dynamics - The report highlights that the global supply of aluminum is expected to grow slowly, with a projected increase of only 1.7% in 2026. This is due to domestic production constraints and slow recovery in overseas capacities [4][34]. - Demand for aluminum is anticipated to grow by approximately 2.4% in 2026, driven by a recovery in the global manufacturing sector [4][16]. Future Growth Potential - The planned 250,000-ton aluminum project is expected to contribute approximately USD 259 million in net profit once operational, with further expansion plans for an additional 500,000 tons in the future [3][15]. - The company’s low-cost structure and stable cash flow from its alumina business are expected to support its growth trajectory and profitability in the coming years [2][14].

智通财经APP获悉，香港联交所最新资料显示，2月5日，南山铝业国际(02610)股东将股票存入华泰香 港，存仓市值20亿港元，占比5%。 南山铝业国际公告，于2026年1月30日，该公司根据配售及认购协议而配发及发行3100万股股份。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 重新提交 致：香港交易及結算所有限公司 公司名稱: 南山鋁業國際控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2026年2月5日 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02610 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 589,435,200 | | 0 | | 589,435,200 | | 增加 / 減少 (-) | | | 31,000,000 | | | | | | 本月底結存 | | | 620,435,200 | | 0 | | 620,435,200 | 足夠公眾持股量的確認 ...

截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 南山鋁業國際控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2026年2月4日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02610 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 589,435,200 | | 0 | | 589,435,200 | | 增加 / 減少 (-) | | | 31,000,000 | | | | | | 本月底結存 | | | 620,435,200 | | 0 | | 620,435,200 | I. 法定/註冊股本變 ...

Company News - Great Wall Motors (02333.HK) expects a total revenue of RMB 222.79 billion in 2025, representing a year-on-year increase of 10.19%. However, net profit is projected to decline by 21.71% to RMB 9.912 billion due to increased investments in new user channels and marketing for new models and technologies [2] - China Southern Airlines (01055.HK) anticipates turning a profit in 2025, with net profit expected to be between RMB 800 million and RMB 1 billion [2] - CICC (03908.HK) forecasts a net profit of RMB 8.542 billion to RMB 10.535 billion in 2025, reflecting a year-on-year increase of 50% to 85% [3] - Datang Power (00991.HK) projects a net profit of approximately RMB 6.8 billion to RMB 7.8 billion in 2025, indicating a year-on-year increase of about 51% to 73% [4] - Rongchang Bio (09995.HK) expects 2025 revenue of approximately RMB 3.25 billion, a year-on-year increase of about 89%, and a net profit of around RMB 716 million, achieving profitability [4] - Haijia Medical (06078.HK) anticipates revenue of approximately RMB 4.0 billion to RMB 4.05 billion in 2025, a year-on-year decrease of about 9% to 10%, with net profit expected to decline by 66% to 76% to around RMB 140 million to RMB 200 million [4] - Junshi Biosciences (01877.HK) expects 2025 revenue of around RMB 2.5 billion, a year-on-year increase of approximately 28.32%, with a net loss of about RMB 873 million, a reduction of 31.85% compared to the previous year [4] - Kaisa New Energy (01108.HK) issued a profit warning, expecting a year-on-year increase in net loss of approximately RMB 90.07 million to RMB 290 million [4] - Xingye Alloy (00505.HK) issued a profit warning, anticipating a year-on-year decrease in profit attributable to equity shareholders of about 50% [4] - Fudan Zhangjiang (01349.HK) issued a profit warning, expecting a net loss of approximately RMB 120 million to RMB 180 million in 2025 [4] - Chenming Paper (01812.HK) issued a profit warning, expecting a net loss of RMB 8.2 billion to RMB 8.8 billion, a significant increase compared to the previous year [5] - Tianqi Lithium (09696.HK) has commenced production of the first batch of standard chemical-grade lithium concentrate products from its third-phase expansion project [6] Financing and Buyback Activities - Xiaomi Group-W (01810.HK) repurchased approximately 4.2 million shares for about HKD 150 million, with repurchase prices ranging from HKD 35.13 to HKD 42.50 [10] - Vitasoy International (00345.HK) repurchased shares worth HKD 24.37 million, acquiring 3.492 million shares at prices between HKD 6.9 and HKD 7 [11] - Yujian Xiaomian (02408.HK) plans to repurchase up to HKD 100 million of H-shares [12] - Nanshan Aluminum International (02610.HK) completed a placement of 31 million shares, raising approximately HKD 1.987 billion [12]

南山铝业（600219）国际(02610)发布公告，于2026年1月30日，该公司根据配售及认购协议而配发及发 行3100万股股份。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 呈交日期： 2026年1月30日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | 股份類別 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) 02610 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 ( ...

经扣除就配售事项及认购事项产生的所有相关费用、成本及开支(包括但不限于法律开支及报销费用) 后，认购事项的所得款项净额约为19.87亿港元。 智通财经APP讯，南山铝业国际(02610)发布公告，配售事项已根据配售及认购协议的条款及条件于2026 年1月26日完成，其中合共3100万股出售股份已按每股出售股份64.50港元的配售价由配售代理竭力成功 配售予不少于六名承配人。 由于完成认购事项的所有条件均已达成，本公司于2026年1月30日根据配售及认购协议的条款及条件按 每股认购股份64.50港元向卖方配发及发行3100万股认购股份。因此，紧随认购事项完成后，卖方所持 有的股份数目与紧接配售事项前相同。 ...

格隆汇1月30日丨南山铝业国际(02610.HK)公告，董事会欣然宣布，配售事项已根据配售及认购协议的 条款及条件于2026年1月26日完成，其中合共3100万股出售股份已按每股出售股份64.50港元的配售价由 配售代理竭力成功配售予不少于六名承配人。据董事在作出一切合理查询后所深知、全悉及确信，各承 配人及彼等各自的最终实益拥有人为独立于公司及其关连人士且与彼等并无关连的订约方，且彼等概不 会于紧随配售事项完成后成为公司主要股东。 ...