格隆汇1月29日｜广发证券研报指出，科大讯飞预计25年全年归母净利润为7.85亿元至9.5亿元，同比增 长40%-70%；25年利润大幅增长，大模型面向B端和C端的商业化落地持续推进。2025年，公司大模型 相关项目中标金额23.16亿元。公司加强回款，增强盈利质量。2025年，公司销售回款总额超过270亿 元，较2024年同期增长超过40亿元。公司研发投入持续，AI大模型基础技术。2025年，公司研发投入 同比增长超过20%。在研发持续投入下，公司讯飞星火大模型保持较好的性能水平。参考可比公司估 值，给予26年120倍PE，对应合理价值67.05元/股，维持"增持"评级。 ...

Core Viewpoint - The data indicates significant capital inflows into various stocks, highlighting investor interest in specific sectors and companies, particularly in cultural, beverage, and technology industries [1][2][3] Group 1: Stock Performance and Capital Inflows - BlueFocus has seen a capital inflow of 2.713 billion, with a price increase of 14.15% [2] - Kweichow Moutai attracted 2.559 billion in capital, reflecting a 6.88% rise [2] - Northern Rare Earth experienced a 7.77% increase with 1.610 billion in inflows [2] - iFlytek recorded a capital inflow of 1.557 billion, with a 6.96% rise [2] - Aerospace Science and Technology saw 1.144 billion in inflows, with a notable increase of 9.98% [2] Group 2: Sector Analysis - The cultural sector, represented by BlueFocus and Zhejiang Wenlian, shows strong investor interest, with inflows of 2.713 billion and 0.850 billion respectively [2][3] - The beverage industry, particularly Kweichow Moutai and Wuliangye, continues to attract significant capital, indicating robust consumer demand [2][3] - The technology sector, including companies like iFlytek and Tianfu Communication, demonstrates growth potential with substantial capital inflows [2][3] Group 3: Additional Notable Stocks - TCL Zhonghuan in the photovoltaic equipment sector attracted 0.651 billion, with a 5.83% increase [2] - Baosteel shares saw inflows of 0.650 billion, reflecting a 2.69% rise [2] - Other notable stocks include Longxin Bochuang and Luzhou Laojiao, with inflows of 0.595 billion and 0.578 billion respectively, indicating diverse investment interests across sectors [3]

Group 1 - The core viewpoint of the news highlights the performance of the AI-themed index and ETF, with notable gains in specific stocks like iFlytek and Kunlun Wanwei, while the AI ETF shows significant trading volume and growth in assets [1][2] - As of January 28, the AI-themed ETF has a total asset size of 34.06 billion yuan, with a recent increase of 2.24 million shares over the past six months, indicating strong investor interest [1][2] - The AI-themed index consists of 50 companies involved in providing resources, technology, and application support for artificial intelligence, with the top ten stocks accounting for 58.08% of the index [2] Group 2 - The storage chip supply tightness and price increases driven by the AI infrastructure boom are expected to persist until 2027, potentially leading to a systematic upcycle in the chip industry [2] - Domestic chip manufacturers are expected to raise prices, reflecting enhanced pricing power and accelerated localization, which may improve gross margins and cash flow, supporting R&D and expansion [2] - The AI ETF closely tracks the performance of the AI-themed index, which is designed to reflect the overall performance of listed companies in the AI sector [2]

Market Overview - As of January 29, A-share major indices showed mixed performance, with the Shanghai Composite Index down 0.1% and the Shenzhen Component Index up 0.01% [2] - The total trading volume in the Shanghai and Shenzhen markets reached 20,349 billion yuan, an increase of 1,042 billion yuan compared to the previous day [2] - Over 2,400 stocks in the market experienced gains [2] Gold Market - International gold prices reached new highs, with spot gold surpassing $5,500 per ounce, peaking at $5,598.75 per ounce, marking a year-to-date increase of over 28% [10][11] - Gold stocks surged, with China Gold achieving five consecutive trading limits [9][12] - Despite the surge, China Gold warned investors about potential risks, stating that its main business remains unchanged and projecting a net profit decrease of 55% to 65% for 2025 [12] AI Application Sector - AI application stocks saw a significant rally, with Keda Xunfei (科大讯飞) hitting the daily limit up after a positive earnings forecast [5][6] - Keda Xunfei expects a net profit of 785 million to 950 million yuan for 2025, representing a growth of 40% to 70% year-on-year [8] - The company reported over a 20% increase in R&D investment, emphasizing its commitment to core technology autonomy [8] - Analysts from CITIC Securities expressed optimism about the AI application and computing power sectors, anticipating a surge in AI-native applications and the need for increased computing power [8] Real Estate Sector - The real estate sector experienced a rebound, with stocks like I Love My Home and Shenzhen Deep Housing hitting daily limits [14] - Shenzhen Deep Housing projected a net profit of 80.8 million to 121 million yuan for 2025, marking a turnaround from a loss of 177 million yuan the previous year [14] - Hong Kong-listed property stocks also saw significant gains, with notable increases in companies like Contemporary Land and China Aoyuan [14][16] - The restructuring of debts among leading real estate companies is progressing, with Vanke successfully extending three domestic bonds and other companies like Country Garden and Sunac China entering execution phases for debt restructuring [17] - Experts suggest that a new financing model for real estate is emerging, focusing on cash flow safety and operational efficiency [18]

Core Viewpoint - The data indicates significant capital inflows into various stocks, highlighting investor interest in specific sectors and companies, with notable amounts flowing into BlueFocus and Kweichow Moutai among others [1][2][3] Group 1: Stock Performance and Capital Inflows - BlueFocus saw a capital inflow of 2.814 billion, with a price increase of 14.59% [2] - Kweichow Moutai experienced a capital inflow of 1.638 billion, with a price increase of 3.72% [2] - iFlytek had a capital inflow of 1.599 billion, with a price increase of 10% [2] - Northern Rare Earth attracted 1.397 billion in capital inflow, with a price increase of 8.34% [2] - Tianfu Communication received 1.090 billion, with a price increase of 5.09% [2] - Zhejiang Wenhu Interconnect had a capital inflow of 0.779 billion, with a price increase of 9.98% [2] - TCL Zhonghuan saw a capital inflow of 0.667 billion, with a price increase of 7.99% [2] - Baosteel received 0.608 billion, with a price increase of 4.23% [3] - Changxin Bochuang attracted 0.558 billion, with a price increase of 7.27% [3] - Jiejia Weichuang had a capital inflow of 0.553 billion, with a price increase of 11.6% [3] - Aerospace Science and Technology received 0.524 billion, with a price increase of 7.13% [3] - Yanshan Technology attracted 0.503 billion, with a price increase of 4.81% [3] - Shenghe Resources had a capital inflow of 0.486 billion, with a price increase of 10% [3] - Tianlong Group saw a capital inflow of 0.483 billion, with a price increase of 18.8% [3] - Kunlun Wanwei received 0.436 billion, with a price increase of 6.93% [3] - Junhai received 0.416 billion, with a price increase of 34.46% [3] - 360 had a capital inflow of 0.407 billion, with a price increase of 4.79% [3] - Xinke Mobile U attracted 0.400 billion, with a price increase of 5.92% [3] - Luzhou Laojiao received 0.395 billion, with a price increase of 5.54% [3]

2026.01. 29 本文字数：1325，阅读时长大约2分钟 作者 | 一财 阿驴 11:28 沪深两市成交额突破2万亿，较上一日此时放量近1000亿。 10:53 银行板块短线拉升，青岛银行涨停，齐鲁银行、渝农商行、成都银行、江阴银行、苏州银行跟 涨。 10:41 沪深两市成交额突破1.5万亿，较上一日此时放量近1000亿。 10:34 光伏设备板块震荡走高，钧达股份涨停，连城数控涨超10%，TCL中环、捷佳伟创、双良节 能、晶盛机电、高测股份跟涨。消息面上，工信部指出，推动光伏行业回归良性竞争、理性发展的轨 道。 10:22 有色金属持续跳水回吐盘初涨幅，新金路此前跌停，中钨高新、厦门钨业跌超8%，锡业股 份、湖南白银、兴业银锡纷纷跳水。 10:13 AI应用端持续走高，光云科技、因赛集团、人民网、引力传媒等多股涨停，流金科技、卓易信 息、天龙集团、蓝色光标、易点天下均涨超10%。 11:31 A股午盘丨创业板指冲高回落微跌 截至午盘，沪指跌0.1%，深成指涨0.01%，创业板指跌0.05%。科创综指跌0.91%，科创50指数跌 超1%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 ...

Group 1 - A-shares saw 49 stocks hitting the daily limit up and 14 stocks hitting the daily limit down during the first half of the trading day on January 29 [1] - The precious metals sector was active, with silver-related stocks achieving an 8-day consecutive limit up, and Western Gold reaching 4 limit ups in 7 days [1] - The short drama concept gained strength, with Tian Di Online achieving 5 limit ups in 9 days, and Hengdian Film and Television, Guangdong Media also hitting the limit up [1] Group 2 - Among the consecutive limit up stocks, China Gold achieved 5 consecutive limit ups, Zhejiang Wenhu Interconnection reached 4 limit ups in 8 days, and Jinchen Co. had 3 limit ups in 5 days [1] - Several stocks faced consecutive limit downs, including *ST Aowei with 15 consecutive limit downs, *ST Wanfang with 13 consecutive limit downs, and *ST Yanshi with 4 consecutive limit downs [1] - Other stocks like *ST Dongjing and ST Yingfeitop experienced 3 consecutive limit downs, while *ST Sailong and others faced 2 consecutive limit downs [1]

Core Viewpoint - The A-share market is experiencing a "resource bull + technology stock" trend, with significant gains in various sectors, particularly in technology and non-ferrous metals [1][7]. Group 1: Market Trends - In January, the non-ferrous metals index surged nearly 31%, while sectors like oil and petrochemicals, media, basic chemicals, electronics, and building materials saw increases of over 10% [1][7]. - The market is expected to maintain its focus on technology and non-ferrous sectors in February, with a continued "slow bull" trend supported by proactive fiscal and monetary policies for 2026 [1][7]. Group 2: Company Performance - A total of 31 technology stocks are identified with significant profit growth, meeting criteria such as having ratings from three or more institutions and projected profit increases exceeding 50% for 2025 [8]. - Zhenlei Technology is projected to achieve a net profit of 123 million to 145 million yuan for 2025, representing a year-on-year increase of 529.64% to 642.26% due to rising demand in the special integrated circuit industry [2][8]. - XianDao Intelligent expects a net profit of 1.5 billion to 1.8 billion yuan for 2025, reflecting a growth of 424.29% to 529.15% driven by increased orders from leading domestic battery companies [2][8]. Group 3: Institutional Attention - Stocks such as Tonghuashun, Keda Xunfei, and Lanke Technology have received ratings from over 20 institutions, indicating strong institutional interest [9]. - The average stock price increase among the listed companies is approximately 24%, significantly outperforming the broader market, with Jin Hai Tong leading with a rise of over 110% [3][9].

Group 1 - The core viewpoint of the news highlights the significant growth in AI computing power and applications, leading to a bullish market trend, particularly in cloud computing ETFs and key stocks like iFlytek [1][3] - iFlytek announced an expected net profit of 785 million to 950 million yuan for 2025, representing a year-on-year growth of 40% to 70%, driven by the accelerated deployment of AI applications [3] - The fourth quarter net profit for iFlytek is projected to reach 852 million to 1.017 billion yuan, indicating a staggering quarter-on-quarter increase of 394% to 490% [3] Group 2 - Meta's recent earnings report also exceeded market expectations, with significant revenue growth and a capital expenditure forecast of up to 135 billion yuan for 2026, nearly double that of the previous year [3] - The computing power industry is experiencing inflation from 2025 to early 2026, affecting storage, CPUs, and other semiconductor chips, driven by increased demand for AI training [3] - Alibaba is preparing to advance the independent listing of its AI chip subsidiary, Tianshu, which is expected to boost the development of domestic computing power chips [4] Group 3 - The open-source AI assistant Clawdbot has gained market attention, transforming personal AI assistants into proactive digital partners, indicating a shift in value from models to application frameworks [5] - The cloud computing ETF tracks a comprehensive index covering leading software developers and electronic component companies, providing a one-stop solution for the AI computing era [5]

Group 1 - The AI software sector experienced a strong rally, with the leading ETF (159899) rising by 3.74% as of 10:49 AM on January 29 [1] - Major stocks in the sector showed impressive performance, with iFlytek hitting the daily limit up at 10.00%, Kingsoft Office increasing by 4.27%, and other component stocks also generally rising [2] - The catalyst for this rally was the announcement of iFlytek's 2025 earnings forecast, projecting a net profit of 785 million to 950 million yuan, representing a significant year-on-year growth of 40% to 70% [2] Group 2 - The growth of iFlytek is driven by the successful commercialization of large models, with project bids amounting to 2.316 billion yuan, surpassing the total of the second to fifth ranked companies [2] - The trend towards large-scale commercialization of AI applications is becoming clear, supported by national initiatives and the establishment of key industry smart agents as a priority [3] - The software sector's strong fundamentals are reinforced by continuous technological breakthroughs and rapid user adoption, exemplified by the monthly active users of the Qianwen APP exceeding 100 million [3]