华源证券8月18日发布研报称，给予德邦股份（603056.SH）增持评级。评级理由主要包括：1）聚焦大 件市场，收入延续较快增长趋势；2）毛利率短期承压，存在效率提升空间；3）费用节降持续发力，销 售费用因资源投入而小幅增长。风险提示：1）宏观经济波动导致运量增速不及预期；2）燃料价格上升 导致成本管控不及预期；3）市场竞争加剧导致份额流失。 （文章来源：每日经济新闻） ...

西南证券8月18日发布研报称，给予贵州茅台（600519.SH，最新价：1430.19元）买入评级。评级理由 主要包括：1）茅台酒保持稳健增长，顺利实现"时间过半，任务过半"；2）毛利率略有下降，合同负债 环比减少；3）积极推进"三个转型"，追求长期高质量发展。风险提示：经济复苏或不及预期，市场竞 争加剧风险。 （文章来源：每日经济新闻） ...

每经AI快讯，有投资者在投资者互动平台提问：请问公司是否存在被st的可能？ 大港股份（002077.SZ）8月18日在投资者互动平台表示， 股价受宏观经济、行业环境、市场情绪等多 重因素影响，公司业绩情况敬请关注将于2025年8月28日披露的2025年半年度报告。 （文章来源：每日经济新闻） ...

Market Performance - The China Securities Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index increased by 1.5% [1] - The Hang Seng Hong Kong Stock Connect Innovative Drug Index rose by 1.3% [1] - The China Securities Biotechnology Theme Index and the China Securities Innovative Drug Industry Index both saw an increase of 0.7% and 0.5% respectively [1] - The CSI 300 Pharmaceutical and Health Index grew by 0.6% [1] - The Hang Seng Innovative Drug ETF (159316) experienced a net subscription of 18 million units, reaching a record high of 1.26 billion yuan [1] Index Details - The Biotechnology ETF tracks the China Securities Biotechnology Theme Index, which focuses on leading A-share biotechnology companies involved in gene diagnosis, biopharmaceuticals, blood products, and other human biotechnology [4] - The rolling price-to-earnings (P/E) ratio for the Biotechnology Theme Index is 55.3 times, with a valuation percentile of 0.7% [5] - The Pharmaceutical ETF tracks the CSI 300 Pharmaceutical and Health Index, covering major companies in the pharmaceutical and health sector, including chemical pharmaceuticals, medical services, and medical devices [6][7] - The rolling P/E ratio for the CSI 300 Pharmaceutical and Health Index is 30.7 times, with a valuation percentile of 45.7% [7] ETF Characteristics - The Hang Seng Innovative Drug ETF is the only ETF tracking the innovative drug index, with a low management fee of 0.15% per year and a custody fee of 0.05% per year [9]

| | 都在用的窗业查询丁具 | 查公司 查表板 查关系 查风险 | | | | | --- | --- | --- | --- | --- | --- | | | 家中小企业发展子基金旗下机构 | 三只松鼠(无为)供应链管理有限公司 | × 天眼一下 | 十四四十 | 商务合作 企业级产 | | 基本信息 3 | 法律诉讼 | 经营风险 | 经营信息 | 公司发展 | 知识产 | | 工商信息 ● | | | | | | | 企业名称 | 三只松鼠(无为)供应链管理有限公司 | | | | | | 法定代表人 | 筒 周庭 | 登记状态(7) | 存续 | | 天眼评分 7 | | | | 成立日期 | 2025-08-15 | | | | 统一社会信用代码 2 | 91340225MAEU7TYC15 | 注册资本(2) | 10000万人民币 | | 实做资本 | | 工商注册号 | | 纳税人识别号 2 | 91340225MAEU7TYC15 | | 组织机构代码 7 | | 营业期限 | 2025-08-15 至 无固定期限 | 纳税人资质 | | | 核准目期 | | 合作文 | 有限责任公司 ...

（文章来源：每日经济新闻） 每经AI快讯，8月18日，鸿蒙智行首款旅行车享界S9T正式开启预订，预售价32.8万元起。 ...

Group 1 - The ChiNext Index continued its strong upward trend, rising by 3.63% in early trading on August 18, surpassing the 2600-point mark and reaching a new high since February 15, 2023 [1] - The liquid cooling server concept gained strength, and computing hardware stocks performed actively [1] - The low-fee ChiNext ETF managed by Guangfa (159952) rose by 3.65%, ranking among the top in trading activity, with a management fee rate of 0.15% and a custody fee rate of 0.05%, making its total fee the lowest in the market [1] Group 2 - The ChiNext ETF closely tracks the ChiNext Index, which is currently favored by the market due to its focus on growth style and relatively low valuation [1] - As of August 17, the latest price-to-earnings ratio (PE) of the ChiNext Index was 36 times, indicating a valuation below 76% of its historical levels, suggesting good value for investment [1] - The top three industries in the ChiNext ETF are power equipment (28%), electronics (14%), and communications (13%), with leading companies like CATL (18.3% weight), Zhongji Xuchuang (5.1%), and Xinyi Technology (4.5%) [1] Group 3 - Securities firms are generally optimistic about the market outlook, with policies supporting and new growth drivers emerging, indicating a "healthy bull" market [2] - The proportion of household deposits allocated to A-shares remains low, suggesting ample space and opportunities in the mid-term A-share market [2] - The computing power sector is experiencing multi-dimensional resonance, with clear investment opportunities in infrastructure such as optical modules [2]

8月18日上午，A股市值总和盘中突破100万亿元，创历史新高，这也是A股历史上首次突破100万亿 元大关。上证指数盘中一度涨0.94%突破3731.69点，创下近十年新高。 热门ETF中，截至11点14分，新一代核心宽基A500ETF基金（512050）涨1.24%，盘中成交额超35 亿元。持仓股芒果超媒、同花顺、中际旭创等多股涨超10%。 兴业证券策略团队分析，在国家战略方向指引下，叠加关键时刻的政策与资金托底、新动能的持续 显现，带动市场信心活化、增量资金入市不断形成合力之下，当前市场正在经历"健康牛"。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

开源证券观点认为，在光模块、PCB已大幅上涨的背景下，站在当前的时间点，液冷板块是战略性 投资机会。液冷，作为AI算力链条的一份子，具备"增长强劲、叙事完备、赔率占优"三大特征。胜率视 角看，（1）液冷基本面斜率变化或更陡峭；（2）对比光模块、PCB，当前所处时期较早；（3）政策 驱动下，能效标准趋严，液冷从"可选"变"刚需"。赔率视角看，在市场高低切后，液冷在AI算力链条内 的赔率优势很大。综合以上，液冷符合强主题三要素，具备自上而下推动明确、行业空间大、催化剂密 集。 北美云厂商资本开支持续扩张，显示AI算力需求强劲，国产算力产业链有望深度受益于海外映射 逻辑。公开信息显示，云计算50ETF（516630）跟踪云计算指数（930851）。该指数的AI算力含量较 高，覆盖了光模块&光器件、算力租赁、数据中心、AI服务器、液冷等热门算力概念。云计算50ETF （516630）为跟踪该指数合计费率最低的ETF。 每日经济新闻 （责任编辑：张晓波 ） 8月18日早盘，A股三大指数集体上涨，创业板指站上2600点关口，成功突破2024年10月8日创下的 阶段高点。盘面上，影视、液冷服务器、光模块、消费电子等方向领涨 ...

Group 1 - The global AI boom continues to drive rapid growth in the telecommunications and communication equipment industry, with AI server revenue growing over 60% year-on-year [1] - The GB200 series products have achieved mass production, and revenue from 800G high-speed switches is expected to increase nearly threefold compared to 2024, confirming the high demand for computing infrastructure [1] - The optical communication sector is performing well, with 400G and 800G optical modules achieving large-scale delivery, and the 1.6T product layout leading the market, while CPO solutions are driving the demand for liquid cooling [1] Group 2 - Domestic optical communication companies have seen rapid growth in performance, with Huagong Technology's connection business revenue increasing by 124% year-on-year, and Taicheng Light's dual layout in MPO and CPO fields [1] - The three major telecom operators are expected to see stable performance in the first half of 2025, with capital expenditure as a percentage of revenue continuing to decline and dividend ratios increasing [1] - The telecommunications industry overall is exhibiting a high prosperity trend, with outstanding performance in optical modules, IDC, and equipment manufacturers [1] Group 3 - The Guotai AI ETF (159388) tracks the ChiNext AI Index (970070), which can have a daily fluctuation of up to 20% [1] - This index selects listed companies involved in artificial intelligence technologies such as machine learning and natural language processing from the ChiNext market to reflect the overall performance of AI-related enterprises and highlight technological innovation and growth characteristics [1]