Group 1 - A-shares experienced significant market activity with 57 stocks hitting the daily limit up and 14 stocks hitting the limit down on February 12 [1] - The tungsten sector showed notable performance, with Xianglu Tungsten Co. achieving three consecutive limit ups in five days, and Zhangyuan Tungsten Co. achieving two consecutive limit ups [1] - ST Jinglan (rights protection) achieved ten consecutive limit ups over 14 days, while ST Zhongdi (rights protection) recorded six consecutive limit ups [1] Group 2 - Several stocks, including Dawi Technology and Zhangyue Technology, achieved four consecutive limit ups, while Haimass Data recorded three limit ups in five days [1] - ST Guohua faced a continuous decline with nine consecutive limit downs, and ST Cuihua (rights protection) experienced three consecutive limit downs [1] - Other stocks such as ST Yuanshang and Hengdian Film & Television also faced consecutive limit downs, indicating a challenging market environment for these companies [1]

场内ETF方面，截至2026年2月12日 10:24，中证稀有金属主题指数(930632)强势上涨1.88%，成分股章 源钨业两连板，盛和资源上涨6.70%，云路股份上涨6.38%，中钨高新，东方钽业等个股跟涨。稀有金 属ETF基金(561800)上涨1.83%，盘中最高涨超2%。 数据显示，截至2026年1月30日，中证稀有金属主题指数(930632)前十大权重股分别为洛阳钼业、北方 稀土、华友钴业、盐湖股份、赣锋锂业、厦门钨业、中矿资源、天齐锂业、中钨高新、中国稀土，前十 大权重股合计占比59.71%。 近期黑钨精矿（≥65%）价格两周大涨25.09%，锑锭报价上涨2.49%，镓、锗价格亦延续上行趋势；叠 加中国稀土价格指数两周上涨11.37%，镨钕氧化物涨幅达12.64%，反映上游资源端在供给约束与下游 高端制造需求共振下正加速提价。国元证券指出，上海期货交易所拟将符合国标的再生铅锭纳入铅期货 交割体系，标志着有色金属行业绿色低碳转型与循环利用政策持续落地，为稀有金属资源的可持续开发 与价值重估提供制度支撑。 中诚信国际认为，在矿端供应偏紧、需求韧性较强的背景下，2026年有色金属行业整体保持较高景气 ...

Group 1 - The core viewpoint of the article highlights the strong performance of the tungsten sector, with significant price increases in tungsten concentrate and ammonium paratungstate [1] - Zhangyuan Tungsten Co. reached its daily limit increase, indicating strong market interest and investor confidence [1] - Other companies in the tungsten industry, such as Xianglu Tungsten, Zhongtung High-tech, and Xiamen Tungsten, also experienced price increases, reflecting a broader trend in the sector [1] Group 2 - The price of black tungsten concentrate rose by 25.19% to 671,000 yuan per ton [1] - The price of ammonium paratungstate increased by 24.68% to 985,000 yuan per ton [1]

Core Viewpoint - The tungsten sector is experiencing a strong upward trend, with several companies in the industry seeing significant stock price increases, particularly Zhangyuan Tungsten, which has reached its daily limit up [1] Group 1: Company Performance - Zhangyuan Tungsten has hit the daily limit up, indicating strong investor interest and confidence in the company's performance [1] - Other companies in the tungsten sector, including Xianglu Tungsten, Zhongtung High-tech, Western Materials, Xiamen Tungsten, Antai Technology, and Luoyang Molybdenum, have also seen their stock prices rise in response to the overall market trend [1]

每经AI快讯，2月12日，章源钨业涨停走出2连板，2天累计涨幅达20.97%。 （文章来源：每日经济新闻） ...

Group 1 - The small metal sector has seen a significant rise, with Zhangyuan Tungsten reaching the daily limit increase [1] - Xianglu Tungsten has increased by over 8%, indicating strong market performance [1] - Other companies such as Zhongtung High-tech, Dongfang Tantalum, and Baotai Co. have also experienced gains, reflecting a positive trend in the industry [1]

Market Overview - The stock market experienced mixed performance with the ChiNext Index and the Sci-Tech Innovation 50 Index both declining over 1% [1] - The trading volume in the Shanghai and Shenzhen markets fell below 2 trillion yuan, decreasing by 121.3 billion yuan compared to the previous trading day [1] - Over 3,200 stocks in the market saw declines, while sectors such as chemicals, small metals, computing power leasing, and fiberglass led the gains [1] Company Highlights - Baichuan Co., Ltd. (002455) achieved 11 consecutive trading days of gains [1] - Dazhi Technology (600589), Decai Co., Ltd. (605287), and other companies have also seen significant stock performance, with some achieving multiple consecutive gains [1] - The recent surge in tungsten prices, with black tungsten concentrate and ammonium paratungstate both rising over 24% in two weeks, has led to a collective explosion in the small metals sector [1] - Companies like Xianglu Tungsten Industry (002842), Zhangyuan Tungsten (002378), and China Tungsten High-Tech (000657) reported trading limits and historical highs [1] Specific Company Announcements - Decai Co., Ltd. (605287) announced the establishment of Fujian Qixiang Infinite Network Co., Ltd., with a registered capital of 10 million yuan, where the company holds a 51% stake [2] - The newly established company is in its early development stage and has not yet impacted Decai's financial performance [2] - Dazhi Technology (600589) clarified that its main business remains unchanged and that its Zhangbei data center project does not involve computing power leasing [3]

Core Viewpoint - The article discusses recent developments in various sectors, highlighting significant technological advancements in space exploration, financial incentives in the tech industry, and market trends in materials and inflation data. Group 1: Space Exploration - The successful sea landing test of the Long March 10A rocket marks a significant breakthrough in technology, crucial for the recovery of low-orbit satellites and future landing operations [1] - The successful maximum dynamic pressure escape flight test of the Dream Chaser manned spacecraft indicates a major milestone in China's lunar exploration program [2] Group 2: Financial Incentives and Market Trends - Ant Group's promotional campaign offering new users a 16.8 yuan red envelope reflects a competitive landscape in the tech sector, with various platforms engaging users through incentives [4] - The glass fiber sector saw a notable increase in stock prices, driven by supply reductions from major producers due to rising demand [4] Group 3: Economic Indicators - January's CPI growth was 0.2% year-on-year, below expectations, while the core CPI reached its highest level in six months at 0.3% [9][15] - PPI data showed a slight improvement at -1.4%, with certain sectors like non-ferrous metals and AI-related industries experiencing price increases [15] Group 4: Stock Market Performance - On February 11, the A-share market showed mixed results, with the Shanghai Composite Index up by 0.09% and the Shenzhen Component down by 0.35% [17] - The glass fiber concept stocks surged, with several companies hitting the daily limit up, indicating strong market interest [17] Group 5: Industry Dynamics - The electric power sector is undergoing significant reforms, aiming to establish a unified national electricity market by 2030, which will enhance market participation and efficiency [20] - The AI sector is being prioritized for commercial applications, with government initiatives to foster growth and innovation in various industries [23]

Group 1: National Power Market Development - The State Council has issued an implementation opinion aiming to establish a unified national electricity market system by 2035, with a market transaction volume steadily increasing [1] - By 2030, the goal is to have about 70% of the total electricity consumption in the country come from market-based transactions, with all types of power sources and non-essential users participating directly in the market [1] - The implementation will include joint transactions across provinces and regions, with a fully operational spot market and a well-established market pricing mechanism by 2030 [1] Group 2: Stock Market Projections - The People's Bank of China projects that the average daily trading volume of the two stock exchanges will reach 17,045.4 billion yuan in 2025, an increase of 61.9% compared to 2024 [2] - By the end of 2025, the Shanghai Composite Index is expected to close at 3,968.8 points, reflecting an 18.4% increase from the end of 2024, while the Shenzhen Component Index is projected to rise by 29.9% to 13,525.0 points [2] Group 3: Solid-State Battery Standards - The first part of the national standard for solid-state batteries for electric vehicles is expected to be released in July 2026, with the draft completed by December 2025 [3] - The standard will include terminology and classification, with testing and validation scheduled for early 2026 [3] Group 4: Lithium Carbonate Futures and Market Activity - Lithium carbonate futures saw a significant increase, with the main contract rising over 9% on February 11 [4] Group 5: Glass Fiber Price Increases - Leading glass fiber companies have raised prices for electronic cloth, resulting in multiple stocks in the sector hitting their daily price limits [5] - Notable companies include International Composites, Changhai Co., and Honghe Technology, with price increases ranging from 10% to over 20% [5][6] Group 6: Tungsten and Rare Earth Market Movements - Zhangyuan Tungsten Industry announced significant price increases for long-term procurement contracts, with black tungsten and white tungsten prices rising by 28.1% and 28.2% respectively [7] - Rare earth product prices have accelerated, with neodymium oxide and metal prices increasing by 7.59% and 6.27% respectively, and a cumulative increase of 34% since the beginning of the year [8] Group 7: Solid-State Battery Technology Collaboration - Guoxuan High-Tech and BASF have signed a strategic cooperation memorandum to jointly develop next-generation solid-state battery technology, focusing on high-performance materials [9] - The collaboration aims to accelerate the commercialization of innovative results in various applications, including electric vehicles and energy storage [9] Group 8: Nickel Price Trends - Nickel prices have continued to rise, with LME nickel reaching $17,780 per ton, and domestic futures increasing over 4% [11] - Indonesia has reaffirmed plans to significantly reduce nickel ore production, with a production quota set between 260 million and 270 million tons for the year [11]

Group 1 - The A-share market showed mixed performance on February 11, with small metals sector leading the gains, particularly companies like Dongfang Molybdenum and Zhongtung High-tech hitting the daily limit, while Zhangyuan Tungsten and Xianglu Tungsten reached new highs [1] - The rapid development of high-demand sectors such as new energy and photovoltaics has significantly increased the demand value for tungsten and other small metals, which are essential functional materials [1] - According to data released by Zhongtung Online on February 11, the domestic price for 65% black tungsten concentrate rose to 697,000 yuan per ton, an increase of 7,000 yuan per ton compared to the previous trading day; similarly, the price for 65% white tungsten concentrate also increased by 7,000 yuan per ton to 696,000 yuan per ton [1] Group 2 - Huaxi Securities indicated that expectations for post-Spring Festival inventory replenishment are rising as the market approaches 2026, leading some holders to replenish their positions at lower prices, which has improved short-term transaction volume marginally [1] - The current situation of tight supply for tungsten raw materials has not yet eased [1]