Group 1 - The ChiNext Mid-Cap 200 Index increased by 3.5%, the ChiNext Growth Index rose by 2.5%, and the overall ChiNext Index saw a 1.2% increase this week [1][3] - The average daily trading volume of the ChiNext ETF managed by E Fund (159915) approached 3 billion yuan [1] - China Galaxy Securities suggests that the spring market trend is likely to continue in the short term, with a high probability of sector rotation and an increased focus on the fundamentals of performance, particularly in the technology innovation sector [1] Group 2 - The ChiNext Mid-Cap 200 Index consists of 200 medium-sized stocks with good liquidity, reflecting the overall performance of representative companies in the ChiNext market [4] - The information technology sector accounts for over 40% of the ChiNext Mid-Cap 200 Index, while the power equipment, communication, and electronics industries together account for nearly 60% [4] - There are currently 17 ETFs tracking the ChiNext Index, 5 tracking the ChiNext Mid-Cap 200 Index, and 1 tracking the ChiNext Growth Index, with varying fee rates and tracking errors [4] Group 3 - The rolling price-to-earnings (P/E) ratio for the ChiNext Index is 42.7 times, for the ChiNext Mid-Cap 200 Index is 114.7 times, and for the ChiNext Growth Index is 41.4 times [3] - The rolling P/E ratio percentile indicates that the ChiNext Index is at a 41.3% percentile, while the ChiNext Growth Index is at 48.0% [3][5] - The cumulative performance over the past year shows the ChiNext Index increased by 47.9%, the ChiNext Mid-Cap 200 Index by 27.3%, and the ChiNext Growth Index by 70.3% [7]

智通财经APP获悉，2月13日，中国证监会发布《关于同意无锡理奇智能装备股份有限公司首次公开发行股票注册的批复》。据悉，理奇智能拟在深交所创 业板上市，国泰海通证券为其保荐机构，拟募资10.0816亿元。 | 索 引 号 | bm56000001/2026-00001790 | | --- | --- | | 发布机构 | | | 名 赤 | 关于同意无锡理奇智能装备股份有限公司首次公开发行股票注册的批复 | | 文 를 | 证监许可〔2026〕 269号 | 据招股书，理奇智能专注于物料自动配料、分散乳化、混合搅拌等物料自动化处理领域，提供专业的物料智能处理系统整体解决方案。公司为客户提供咨 询、设计、制造、安装、调试、培训及售后的一站式服务，产品广泛应用于锂电制造、精细化工、复合材料等行业。 ...

商业航天反复活跃，军工ETF（512810）、通用航空ETF（159231）场内价格分别上涨0.47%和0.43%。消息面上，2月11日，我国长征十号运载火箭一级箭 体完成受控海上溅落，突破可复用火箭关键技术。专家指出，新型"网系回收"方案比传统着陆腿更稳定，有望提升运载效率。 | 序号 代码 | | 名称 | 版大幅 ▼ | | --- | --- | --- | --- | | 15 | 159131 | 港股信息技术ETF T+0 | 0.97% | | 2 | 512810 | 室 ETF半宝 | 0.47% | | 3 | 159231 | 通用航空ETF华宝 | 0.43% | | 4 | 589190 | 科创芯片ETF华宝 | 0.21% | | ഗ | 589520 | 科创人工智能ETF华宝 | 0.14% | 中原证券认为，受益于政策催化提速、资金面边际改善，叠加前期市场调整已释放部分风险，多重因素共同支撑节后市场乐观预期。建议投资者采取均衡配 置策略，在坚守AI等科技成长主线的同时，积极关注具备潜在投资价值的消费板块。预计上证指数大概率维持小幅震荡上行走势，投资者需重点跟踪宏观 经济数 ...

Core Viewpoint - The A-share market has shown a slow bull pattern in the Year of the Snake (2025), with significant gains across major indices, driven by policy support, economic recovery, and external environment fluctuations [2][4]. Market Performance - As of the last trading day of the Year of the Snake, the Shanghai Composite Index closed at 4082.07, the Shenzhen Component Index at 14100.19, the ChiNext Index at 3380.83, and the North Star 50 at 1529.77 [2]. - The Shanghai Composite Index increased by 24.83% for the year, while the Shenzhen Component Index rose by 37.73%. The ChiNext Index led with a 62.31% increase, followed by the North Star 50 and the Sci-Tech 50, which rose by 42.59% and 48.65%, respectively [2]. Sector Performance - In 2025, the non-ferrous metals sector topped the performance chart with a 109.89% increase, followed by the communication, electronics, and power equipment sectors, which rose by 90.78%, 58.08%, and 57.80%, respectively. Other sectors like computers, automobiles, and pharmaceuticals saw increases between 15% and 30% [3]. - Concept sectors also performed well, with the optical module (CPO) index leading at 119.25%, followed by the storage chip index at 98.63%, the lithography machine index at 74.61%, the semiconductor index at 70.07%, and the robotics index at 55.11% [3]. Individual Stock Performance - Nearly 4700 stocks saw price increases, with 779 stocks doubling in price and over 100 stocks increasing by more than 200%. The top three performers, excluding newly listed stocks, were Upway New Materials, Tianpu Co., and Jiamei Packaging, with increases exceeding 1800%, 900%, and 800%, respectively. Only 23 stocks fell by more than 40%, with 8 stocks declining over 50% [3]. Trading Activity - The A-share market experienced high trading activity, with daily trading exceeding 1 trillion yuan becoming the norm. The average daily trading volume rose to 1.89 trillion yuan, a nearly 70% increase compared to the previous year, with days exceeding 2 trillion yuan accounting for 35% of trading days [3]. Future Outlook - The investment environment for the A-share market in the Year of the Horse (2026) is expected to continue improving, with a slow bull market likely to persist. Key drivers include policy benefits, economic recovery, and technological leadership. Sectors such as semiconductors and artificial intelligence are anticipated to maintain strong performance, while caution is advised for cyclical sectors like non-ferrous metals and new energy [4].

从全年看，三大指数全线飘红。 2月13日，三大指数集体收跌，沪指跌1.26%，深证成指跌1.28%，创业板指跌1.57%，科创综指跌 0.38%。 | 代码 | 名称 | 涨幅� | 现价 | | --- | --- | --- | --- | | 300719 | 安达维尔 | +19.99% | 20.89 | | 601890 | 亚星锚链 | +10.04% | 12.39 | | 600893 | 航发动力 | +10.01% | 57.17 | | 688586 | 江航装备 | +8.31% | 16.55 | | 300589 | 江龙船艇 | +8.17% | 21.58 | | 688563 | 航材股份 | +7.92% | 76.30 | | 000738 | 航发控制 | +7.44% | 29.45 | | 688510 | 航亚科技 | +7.19% | 44.28 | | 300065 | 海兰信 | +6.90% | 28.81 | | 300424 | 航新科技 | +6.59% | 19.40 | | 603268 | *ST松发 | +5.00% | 100.10 | ...

Group 1 - The A-share market in the Year of the Snake concluded successfully, with major indices showing strong performance, including a 25.58% increase in the Shanghai Composite Index, a 38.84% rise in the Shenzhen Component Index, and a leading 58.73% surge in the ChiNext Index [1] - The trading activity in the A-share market was robust, with daily trading volumes exceeding 1 trillion yuan becoming the norm, and the average daily trading amount reaching 1.89 trillion yuan, marking a nearly 70% increase compared to the previous year [1] - Nearly 4,700 stocks rose throughout the year, with 779 stocks doubling in price and over 100 stocks increasing by more than 200%. The top three performers, excluding newly listed stocks, were Upway New Materials, Tianpu Co., and Jiamei Packaging, with increases of over 1800%, 900%, and 800% respectively [1] Group 2 - Only 23 stocks experienced declines of over 40%, and 8 stocks fell by more than 50%, indicating a strong overall market performance [1]

Core Viewpoint - North American CSP companies are accelerating capital expenditures, focusing on high-power servers, power systems, cooling, and networking equipment, indicating a significant increase in AI training and inference demand [1] Group 1: AI Industry Dynamics - The domestic AI application sector is rapidly expanding, with large-scale implementations expected to significantly increase the frequency of inference computing power usage, creating a reverse pull on upstream computing power and infrastructure [1] - The AI industry is transitioning from a "single-point computing power boom" to a collaborative expansion phase involving "computing power, infrastructure, and application ecosystem" [1] Group 2: Market Opportunities - The server, power equipment, data centers, and liquid cooling sectors, along with the domestic computing power supply chain, are positioned to benefit continuously from these trends [1] - Recent domestic AIDC tenders are beginning to emerge, with clear growth potential in the HVDC/SST industry trend, indicating a high market space and further value enhancement opportunities [1] Group 3: New Energy Sector - The Guotai New Energy ETF (159387) tracks the Innovation Energy Index (399266), which has a daily price fluctuation limit of 20%, selecting listed companies involved in clean energy, new energy vehicles, and energy storage technologies to reflect the overall performance of innovative and growth-oriented companies in the new energy sector [1]

中信证券研报称，预计算力板块2025年业绩将在CSP大厂Capex持续兑现、Token需求不断释放、产品能 力不断提升等背景下持续景气增长；AI应用显现结构性亮点，如AI金融科技、AI医疗、AI数据等领域 表现突出，通用Agent应用亦韧性增长；板块整体盈利有望明显改善。展望2026年，算力景气有望持 续、AI应用迎拐点机遇。 中证人工智能主题指数选取50只业务涉及为人工智能提供基础资源、技术以及应用支持的上市公司证券 作为指数样本，以反映人工智能主题上市公司证券的整体表现；中证科创创业人工智能指数则从科创板 和创业板中选取50只业务涉及人工智能基础资源、人工智能技术以及人工智能应用领域的股票作为指数 样本，反映双创板块中人工智能主题股票的整体表现。 2月13日，PCB、存储芯片概念午后活跃，带动相关指数反弹。截至13:44，中证人工智能主题指数上涨 0.4%，中证科创创业人工智能指数上涨0.3%，人工智能ETF易方达（159819）盘中净申购达6000万份。 （文章来源：每日经济新闻） ...

截至午间收盘，创业板中盘200指数下跌0.6%，创业板指数下跌1.0%，创业板成长指数下跌1.1%，资金交投活跃，创业板ETF易方达（159915）半日成交额 达15亿元，获超1亿份净申购。 每日经济新闻 ...

Market Overview - The A-share market experienced a turbulent morning session with all three major indices declining, led by the ChiNext Index which fell by 0.96% [1][2] - The Shanghai Composite Index decreased by 0.7%, and the Shenzhen Component Index dropped by 0.67% [1][2] - Trading volume significantly shrank, with the total turnover in the Shanghai and Shenzhen markets reaching 1.2 trillion yuan, a decrease of 125.6 billion yuan compared to the previous trading day [1][2] Sector Performance - The semiconductor sector showed strong performance, with concepts related to photolithography machines and photolithography adhesives rapidly rising [1][2] - Guofeng New Materials achieved a notable performance with two consecutive trading limits in four days [1][2] - The semiconductor equipment concept continued to strengthen, with Shenghui Integration hitting the daily limit and setting a new historical high [1][2] - The paper-making sector also demonstrated resilience, with Wuzhou Special Paper reaching the daily limit [1][2] Declining Sectors - The port and shipping sector faced a collective downturn, with significant declines in stocks such as COSCO Shipping Energy and China Merchants Energy [1][2]