【导读】沪指盘中突破3600点，基金公司解读后市投资机会 在基金公司看来，当前市场或仍处于上涨趋势中，不能轻易言顶。与以往相比，此次行情基础更为扎 实，市场赚钱效应有望逐步扩散。 多因素驱动 7月23日，沪指、上证50指数等盘中突破3600、2800点，续写新篇章。 本轮指数突破有何独特之处？后续走势将如何展开？ 业内认为，近期市场的上涨是多重利好因素共同推动的结果。 对于近期的上涨，长城基金认为有几个驱动因素：一是"反内卷"政策不断深化。从去年7月中央政治局 会议首次提到"反内卷"到现在已有一年时间，范围不断扩大，从上游资源品、"新三样"到快递、航空 等，而不是像上一轮供给侧改革主要集中在传统行业的去产能。"反内卷"政策的推出及执行，有望上修 PPI和A股盈利预期。 二是世界级超级工程—总投资达1.2万亿元的雅鲁藏布江下游水电项目宣布开工，对顺周期板块的情绪 拉动较大，一定程度上可支撑指数上行。 三是中国资产重估大趋势不改，积极因素不断累积，包括世界多极化趋势、美国例外论受到质疑，中国 新质生产力出现高光时刻和国内丰富的政策工具储备等。 近期，A股市场表现强劲。沪指自7月9日成功突破3500点后，连续9个交 ...

【导读】中邮保险举牌绿色动力环保，险资年内已举牌21次 又有保险公司出手举牌上市公司。 中邮保险表示，以7月4日绿色动力环保港股收盘价和同日日终港元兑人民币汇率为基准，该公司持有绿色动力环保股票的账面余额约 为人民币0.941亿元，占公司2025年二季度末总资产的比例为0.014%，符合监管要求。 公司称，本次投资将纳入权益类投资管理。受托管理人中邮人寿资管将密切关注企业的经营状况及市场后续反应，不排除后期继续追 加投资的可能。 公告还披露，截至今年3月31日，根据新准则合并口径的中邮保险总资产为6313.8亿元，净资产为79.97亿元。截至6月30日，该公司权 益类资产账面余额为人民币1007.75亿元，占公司2025年一季度末总资产的比例约为17.08%。 资料显示，绿色动力环保成立于2000年，是北京市国有资产经营有限责任公司控股的专门从事循环经济、可再生能源产业的国有上市 企业集团，是中国垃圾焚烧发电行业内首家A+H股上市企业。此前，也有保险公司举牌绿色动力环保，去年7月31日，长城人寿增持 绿色动力H股至7015万股，持股比例增加至5.0343%，构成举牌。 年内险资已举牌上市公司21次 7月22日 ...

Core Insights - A significant capital influx is observed in Ethereum following the signing of the "Genius Act" by Trump, with Ethereum's price surging 8% to over $3600, reaching a market cap of $437.9 billion [1] - Many publicly listed companies in the U.S. are adjusting their cryptocurrency reserve strategies, incorporating Ethereum as a core asset on their balance sheets [1][2] - The number of entities holding Ethereum has increased from 40 in June to 59 by July 23, with the top 10 companies holding over 860,000 Ethereum, valued at approximately $3.2 billion, marking a 45% increase since June [2] Company Strategies - SharpLink Gaming has emerged as the largest holder with 360,000 Ethereum (approximately $1.3 billion), surpassing the Ethereum Foundation [3] - Bit Digital, a digital asset platform, raised about $172 million through a public offering and used the proceeds to acquire 120,000 Ethereum, indicating a strategic shift towards Ethereum due to its potential to "reshape the financial system" [4] - Companies are employing various financing strategies to acquire Ethereum, including selling Bitcoin and utilizing decentralized finance (DeFi) protocols for leveraged purchases [6] Market Dynamics - The "Genius Act" establishes a federal regulatory framework for stablecoins, contributing to the rapid increase in Ethereum's value [6] - Institutions are shifting their investment logic from speculation to balance sheet management, viewing Ethereum as a "digital treasury bond" and participating in staking and DeFi to generate annual cash flows of 5% to 10% [7] - Ethereum is becoming a favored asset in corporate portfolios, alongside other major cryptocurrencies like BNB, SOL, and TRX [7]

Group 1 - Alibaba is set to launch its first self-developed AI glasses this week, entering the competitive "hundred glasses war" [1][2] - The AI glasses will feature a voice assistant, music playback, phone calls, real-time translation, and meeting minutes, integrating functions from Alibaba's ecosystem such as maps, payments, and shopping [2][3] - Two versions of the product will be released: non-display AI smart glasses and AI+AR smart glasses, with the latter being prioritized [2][3] Group 2 - The development of these AI glasses is an extension of Alibaba's AI to consumer strategy, completed by the Tmall Genie hardware team and Quark AI research team [3] - The AI glasses project was officially initiated in April, with the team actively expanding [3] - The glasses will utilize a dual-chip architecture, featuring Qualcomm Snapdragon AR1 and Hengxuan BES2800 chips, and will include a Sony IMX681 image sensor with 12 million pixels [2][3] Group 3 - Other major tech companies in China are also advancing their AI glasses development, indicating a growing market [4][6] - Baidu's CEO announced the launch of the world's first native AI glasses equipped with a Chinese large model, while Xiaomi introduced its AI glasses, priced from 1999 yuan, directly competing with Meta's Ray-Ban [5][6] - The AI glasses market is expected to expand rapidly as more players enter, with a busy product release and mass production period anticipated in the second half of the year [6]

Core Viewpoint - The Shanghai market regulatory authorities have taken action against platforms like Ele.me, requiring them to implement significant rectifications in response to the ongoing "takeout war" and related promotional practices [2][5]. Group 1: Regulatory Actions - Shanghai's market regulatory department has conducted talks with Ele.me and other platforms, mandating three key rectifications: the complete removal of "zero-yuan purchase" promotions, a significant reduction in the scope of free meal marketing, and the establishment of a special task force to enhance activity monitoring, price control, and rider rights protection [1][2]. - The National Market Supervision Administration previously held discussions with major platforms including Ele.me, Meituan, and JD.com, urging them to comply with legal regulations and promote fair competition [2][4]. Group 2: Industry Response - In light of the intensified competition, major platforms have launched various promotional campaigns, including significant discounts and "zero-yuan" offers, which have led to record-high order volumes [5][6]. - Meituan reported a daily order volume exceeding 1.5 billion as of July 12, a notable increase from 1.2 billion the previous week, while Taobao Flash Sale announced a new high of 80 million daily orders [5]. Group 3: Future Strategies - Following the regulatory actions, major platforms are pivoting to new strategies. Meituan has initiated a "Ten Thousand Brands" plan to support 10,000 well-known restaurant brands, while JD.com has launched a "Dish Partner" recruitment plan with a cash investment of 1 billion yuan [7]. - JD.com has emphasized its focus on reducing industry commissions, ensuring rider benefits, and promoting quality takeout, distancing itself from the recent aggressive subsidy practices [6][7].

Group 1 - The core viewpoint of the article highlights the significant rise in the Yajiang Hydropower Station concept stocks, with related funds experiencing substantial inflows, particularly in building materials and infrastructure ETFs [1][2] - On July 22, the market saw all three major indices reach new highs for the year, with the Yajiang Hydropower Station concept stocks continuing to surge, and the coal sector also experiencing a sharp increase [1][2] - A total of 22 billion yuan was attracted by four leading products in the Yajiang Hydropower Station concept, with the overall market for stock ETFs reaching a total scale of 3.77 trillion yuan [1][3] Group 2 - The building materials ETFs were among the top gainers, with net inflows of 8.92 billion yuan and 7.53 billion yuan from two different funds, contributing to the overall inflow of over 22 billion yuan for the day [3][4] - The construction materials index saw a net inflow of 18.22 billion yuan, while the Hong Kong Stock Connect Internet index attracted over 32 billion yuan in the past five trading days [1][3] - Despite the strong performance of sector-specific ETFs, broad-based ETFs experienced a net outflow of 58.28 billion yuan, indicating a shift in investor focus towards more targeted investments [6][7] Group 3 - Major fund companies like E Fund and Huaxia Fund reported significant net inflows in their ETFs, with E Fund's Hong Kong Securities ETF seeing over 3.7 billion yuan in inflows [5][6] - The article notes that the market is currently in a strong upward trend, with analysts suggesting that the A-share market is entering a new development window, supported by positive policy signals and improving company performance [9]

Market Overview - The A-share market experienced a rally on July 23, with the Shanghai Composite Index rising 0.75% to 3608.58 points, the Shenzhen Component Index increasing by 0.31% to 11134.07 points, and the ChiNext Index up by 0.72% to 2327.48 points [1][2]. Financial Sector Performance - The financial sector showed significant strength, with brokerage stocks experiencing notable gains. Guosheng Financial Holdings hit the daily limit, while Guosen Securities, Harbin Investment, and Bank of China Securities all rose over 5% [5][8]. - Other financial stocks such as China Pacific Insurance, Agricultural Bank of China, and Qilu Bank also saw increases exceeding 3% [8]. CRO Sector Activity - The Contract Research Organization (CRO) sector saw a surge, with stocks like Zhaoyan New Drug hitting the daily limit and companies such as Medisino, Boteng Co., and Haoyuan Pharmaceutical rising over 5% [10][11]. - Analysts from Zhongtai Securities noted that leading CRO and CDMO companies reported better-than-expected mid-year results, indicating a recovery in demand and potential for profit and valuation increases [11]. New Stock Listings - Two new stocks were listed on July 23, with Shanda Electric experiencing a dramatic rise of over 500% shortly after its debut. The company issued 40.72 million shares at an initial price of 14.66 yuan per share [13][14]. - Another new listing, Jiyuan Group, saw its shares increase by over 370%, with a current market capitalization of 16.6 billion yuan [15][16].

Group 1 - The concept stocks related to the Yarlung Tsangpo River hydropower project continue to gain popularity, with over twenty stocks hitting the daily limit up, including Tiedao Heavy Industry and Deepwater Survey Institute, both reaching a 20% increase [4][6] - The total investment for the Yarlung Tsangpo River downstream hydropower project is approximately six times that of the Three Gorges Project, with an expected annual investment of 60 billion to 80 billion yuan over a construction period of 15 to 20 years [7] - Major players in the steel sector, such as China Electric Power Construction and China Energy Engineering, have seen their stock prices rise significantly, with total market values reaching 116.6 billion yuan and 128.8 billion yuan respectively [6][7] Group 2 - The steel sector experienced a sharp increase, with stocks like Shengde Xintai and Liugang Co. hitting the daily limit up, while the overall steel prices have risen week-on-week [8] - The Ministry of Industry and Information Technology announced a new round of growth stabilization plans for key industries, including steel, aimed at optimizing supply and eliminating outdated production capacity [8] - Meibang Co. saw a dramatic drop in stock price, falling from a limit up of 31.1 yuan to a limit down of 25.86 yuan, reflecting volatility in high-position stocks [9]

【导读】美日达成贸易协议，日经225指数涨超2% 特朗普在其社交平台"真实社交"上发文称，美国刚刚与日本达成了一项"巨大的"协议，可能是有史以来最大的一项。按照其指示，日本将向美国投资5500 亿美元，美国将获得其中90%的利润。这项协议将创造数十万个就业岗位。 特朗普还称，日本将开放其市场进行贸易，包括汽车、卡车、大米以及其他部分农产品和商品。日本将向美国支付15%的对等关税。 据日本广播协会援引日本政府官员的消息报道，日本和美国已同意将汽车关税降至15%。 日本首席关税谈判代表赤泽亮正在X平台上表示称，任务完成。 一起来看下日韩股市的最新市场情况及资讯。 特朗普称美日达成贸易协议 7月23日早间，受日美贸易协议消息影响，日本股市高开，日经225指数涨幅扩大至2%。 日本汽车股大涨，三菱汽车、马自达汽车均涨超10%，本田汽车、日产汽车涨超7%，丰田汽车股票因买单过多一度暂停交易。 | 名称 | 现价 | 涨跌幅 = | 总市值 | i | | --- | --- | --- | --- | --- | | 马自达汽车 | 952.9 | 12.89% | 6020亿 | | | 7261.T | | | | ...

【导读】标普500指数再创新高，科技巨头亚马逊、马斯克再度加码AI，原油下跌、黄金提振 见习记者储是 美东时间7月22日，美股三大指数涨跌不一，标普500指数再创新高，科技股巨头涨跌不一，热门中概股普涨。 亚马逊、马斯克xAI继续加码AI领域；关税谈判陷入停滞，原油价格持续走弱，黄金价格因美元走弱而提振。 美股三大指数涨跌不一，市场在消化近期涨幅 截至收盘，道琼斯工业指数上涨0.40%，报收于44502.44点；纳斯达克指数下跌0.39%，报收于20892.69点；标普500指数上涨0.06%，报收于6309.62点，再 创新高。 Baird投资策略分析师Ross Mayfield指出，市场在消化近期涨幅，目前处于蓄势观望阶段。接下来一两周，两大重磅催化剂即将落地：一是8月1日的关税 大限，二是美股七巨头密集披露的关键财报。 大型科技股涨跌不一 大型科技股涨跌不一，谷歌上涨0.50%，苹果上涨0.9%，特斯拉上涨1.1%。英伟达下跌2.54%，Meta下跌1.16%，微软下跌0.94%，亚马逊下跌0.78%。 热门中概股普涨 热门中概股普涨，纳斯达克中国金龙指数收涨1.7%。大全新能源涨16.79%，蔚来涨超 ...