Group 1 - China Petroleum & Chemical Corporation and China Aviation Oil Group have received approval from the State Council for a restructuring [2] - The Guangzhou Municipal Government has issued a plan to accelerate the construction of an advanced manufacturing city from 2024 to 2035, focusing on reusable rocket technology and establishing testing bases for large liquid rockets [2] - On January 8, polysilicon futures hit the limit down with a decline of 9%, following a meeting where the State Administration for Market Regulation discussed monopoly risks with major solar companies [2] Group 2 - Nestlé has initiated a precautionary recall of specific batches of infant formula in several European countries, with the Chinese subsidiary complying with the recall to protect consumer rights [3] - Fenglong Co. may apply for a trading suspension if its stock price continues to rise abnormally [5] - Pritchard Co. does not expect large-scale orders for its LCP film products in the brain-computer interface sector in the short term [6] - Vanke A has announced the resignation of its retiring executive vice president, Yu Liang [7] - Jiangshun Technology is planning to jointly invest in the establishment of an investment fund [8] - Kuanse Co. clarified that it is not involved in commercial aerospace or satellite navigation businesses, countering media reports [9]

Core Viewpoint - The State Administration for Market Regulation (SAMR) has conducted discussions with several major companies in the Chinese photovoltaic industry regarding monopoly risks and has issued clear rectification requirements [1] Group 1: Regulatory Actions - SAMR has required the China Photovoltaic Industry Association and the companies involved not to agree on production capacity, capacity utilization rates, production volumes, or sales prices [1] - The companies are prohibited from market division, production allocation, and profit distribution through any form of investment ratio [1] - SAMR has mandated that the association and the companies submit written rectification measures by January 20 [1]

Group 1 - The State Administration for Market Regulation (SAMR) has conducted interviews with major companies in the photovoltaic industry, including China Photovoltaic Industry Association, Tongwei Co., GCL-Poly Energy, Daqo New Energy, Xinte Energy, Asia Silicon, and Dongfang Hope, regarding monopoly risks and required corrective actions [1] - SAMR has mandated that the interviewed companies and the association must not agree on production capacity, utilization rates, sales volumes, or pricing; they are also prohibited from market division, production allocation, or profit distribution through any form of capital contribution [1] - A written report detailing corrective measures must be submitted to SAMR by January 20 [1] Group 2 - On January 8, domestic commodity futures experienced significant volatility, with polysilicon futures hitting the limit down, and precious and non-ferrous metals markets also declining sharply [2] - Polysilicon futures dropped by 9%, while other metals like silver, nickel, and copper saw declines of over 5% to 8% [2] - The price of put options for polysilicon surged dramatically, with some contracts experiencing increases of over 110,000% in a single day [2][3]

Core Viewpoint - The meeting minutes from the State Administration for Market Regulation indicate a halt to self-regulatory practices in the photovoltaic industry due to antitrust concerns, which could significantly impact market dynamics and pricing strategies in the sector [1][2][3]. Group 1: Antitrust Concerns - The meeting highlighted multiple reports of price manipulation in the polysilicon market under the guise of industry self-regulation since July 2025 [1][14]. - Companies have been accused of signing commitment letters and forming a platform company to control production and sales, effectively dividing the market and squeezing downstream players [1][15]. - The association has been warned multiple times to comply with regulations but failed to report progress to the authorities [1][16]. Group 2: Rectification Measures - The authorities have mandated a comprehensive review of existing practices, requiring detailed documentation of agreements and protocols related to funding and corporate governance [2][17]. - Companies are instructed to create rectification plans that prohibit agreements on production capacity, utilization rates, sales volumes, and pricing [2][18]. - The association and companies must establish internal antitrust regulations and conduct self-assessments to prevent future violations, with a deadline for submitting written rectification measures set for January 20 [2][18]. Group 3: Market Reactions - Following the announcement, polysilicon futures contracts experienced a significant drop, indicating market apprehension regarding the implications of the regulatory actions [6][21]. - There were rumors about the potential cancellation of polysilicon futures trading, which were confirmed to be untrue [6][21]. Group 4: Comparative Insights - The article suggests that the Japanese model for industry self-regulation, which includes legal exemptions and administrative approvals for collaborative actions, could serve as a reference for the Chinese photovoltaic industry [8][23]. - Examples of legal exemptions in Japan highlight the importance of government oversight and transparency in managing industry practices to avoid price manipulation [8][24][25].

Group 1 - On January 8, polysilicon futures hit the limit down, with a decline of 9% [1] - A leaked meeting summary indicated that on January 6, the State Administration for Market Regulation held discussions with several companies in the photovoltaic sector regarding monopoly risks and required corrective actions [1] - Industry insiders did not deny the authenticity of the leaked meeting content, suggesting that companies will comply with regulatory requirements and disclose information as mandated [1] Group 2 - The drop in polysilicon futures is likely influenced by the leaked meeting summary, indicating a potential shift towards a marginal cost pricing model in the market [1] - An industry representative expressed confidence that the "anti-involution" measures in the photovoltaic sector will succeed, albeit with possible changes in approach [1]

本次减持计划实施前,上海卓然工程技术股份有限公司（以下简称"公司"或"卓然股份"）持股5%以上股 东马利平先生直接持有公司无限售条件流通股 13,749,187股，占公司总股本的5.89%，股份来源为公司 首次公开发行前取得的股份，该部分股份已于2022年9月6日解除限售并上市流通。上海牧鑫私募基金管 理有限公司－牧鑫通盈2号私募证券投资基金持有公司股份1,125,300股，占公司总股本的0.48%。上述 主体构成一致行动人，合计持股比例为6.37%。 ● 减持计划的实施结果情况 证券代码：688121 证券简称：卓然股份（维权） 公告编号：2026-005 上海卓然工程技术股份有限公司 持股5%以上股东减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 大股东持有的基本情况 （二）本次减持是否遵守相关法律法规、本所业务规则的规定 √是 □否 ■ 二、减持计划的实施结果 （三）本次实际减持情况与此前披露的减持计划、承诺是否一致 √是 □否 （四）减持时间区间届满，是否未实施减持 ...

证券日报网讯 1月7日，卓然股份发布公告称，本次减持计划实施前，上海卓然工程技术股份有限公司 （以下简称"公司"或"卓然股份"）持股5%以上股东马利平先生直接持有公司无限售条件流通股13， 749，187股，占公司总股本的5.89%，股份来源为公司首次公开发行前取得的股份，该部分股份已于 2022年9月6日解除限售并上市流通。上海牧鑫私募基金管理有限公司－牧鑫通盈2号私募证券投资基金 持有公司股份1，125，300股，占公司总股本的0.48%。上述主体构成一致行动人，合计持股比例为 6.37%。公司于2026年1月7日收到股东马利平先生及其一致行动人上海牧鑫私募基金管理有限公司—牧 鑫通盈2号私募证券投资基金发来的《关于减持股份结果的告知函》，截至2026年1月6日，股东马利平 先生通过集中竞价交易方式累计减持公司股份2，165，925股，占公司总股本比例为0.93%。股东马利 平一致行动人上海牧鑫私募基金管理有限公司—牧鑫通盈2号私募证券投资基金通过大宗交易减持股份 700，000股，占公司总股本比例为0.30%，合计减持数量占公司总股本比例为1.23%，本次减持计划实 施完毕。 （文章来源：证券日报） ...

每经AI快讯，卓然股份1月7日晚间发布公告称，公司于2026年1月7日收到股东马利平先生及其一致行 动人上海牧鑫私募基金管理有限公司—牧鑫通盈2号私募证券投资基金发来的《关于减持股份结果的告 知函》，截至2026年1月6日，股东马利平先生通过集中竞价交易方式累计减持公司股份约217万股，占 公司总股本比例为0.93%。股东马利平一致行动人上海牧鑫私募基金管理有限公司—牧鑫通盈2号私募 证券投资基金通过大宗交易减持股份700,000股，占公司总股本比例为0.30%，合计减持数量占公司总股 本比例为1.23%，本次减持计划实施完毕。 （记者 曾健辉） 每经头条（nbdtoutiao）——十年首现，沪指连续站稳关键位置！高盛：建议高配中国股票！券商分析 师：人民币升值等因素加速跨境资本回流 ...

格隆汇1月7日丨卓然股份（维权）(688121.SH)公布，公司于2026年1月7日收到股东马利平先生及其一 致行动人上海牧鑫私募基金管理有限公司—牧鑫通盈2号私募证券投资基金发来的《关于减持股份结果 的告知函》，截至2026年1月6日，股东马利平先生通过集中竞价交易方式累计减持公司股份216.59万 股，占公司总股本比例为0.93%。股东马利平一致行动人上海牧鑫私募基金管理有限公司—牧鑫通盈2 号私募证券投资基金通过大宗交易减持股份70万股, 占公司总股本比例为0.30%，合计减持数量占公司 总股本比例为1.23%，本次减持计划实施完毕。 ...

证券代码：688121 证券简称：卓然股份 公告编号：2026-005 上海卓然工程技术股份有限公司 持股 5%以上股东减持股份结果公告 公司于 2025 年 9 月 9 日披露了《上海卓然工程技术股份有限公司持股 5%以 上股东减持股份计划公告》（公告编号 2025-040）。马利平先生及其一致行动 人上海牧鑫私募基金管理有限公司—牧鑫通盈 2 号私募证券投资基金拟通过集 中竞价交易与大宗交易相结合的方式减持其所持有的公司股份，本次累计减持不 超过 3,036,982 股，即不超过公司总股本的 1.3%，采取集中竞价交易方式的， 在任意连续 90 日内，减持股份的总数不超过公司股份总数的 1%，采取大宗交易 方式的，在任意连续 90 日内，减持股份的总数不超过公司股份总数的 0.3%。 公司于 2026 年 1 月 7 日收到股东马利平先生及其一致行动人上海牧鑫私募 基金管理有限公司—牧鑫通盈 2 号私募证券投资基金发来的《关于减持股份结果 的告知函》，截至 2026 年 1 月 6 日，股东马利平先生通过集中竞价交易方式累 1 计减持公司股份 2,165,925 股，占公司总股本比例为 0.93%。股东马 ...