Group 1 - The A-share market has shown a recovery, with the Shanghai Composite Index surpassing the 3600-point mark, indicating a rebound in market sentiment [2][3] - Institutions believe that the recent market adjustment is a phase of consolidation rather than a trend reversal, with a continued focus on growth sectors such as AI, robotics, and innovative pharmaceuticals [1][2] - The growth style has been active since June, with the ChiNext Index rising over 20% and the Sci-Tech 50 Index increasing nearly 10% by the end of July [2][5] Group 2 - The policy environment remains supportive of technology innovation, with the Central Political Bureau meeting emphasizing the need to enhance the attractiveness and inclusiveness of the domestic capital market [2][4] - There has been significant net inflow into growth-themed ETFs, with notable amounts in various funds, indicating strong investor interest in growth sectors [3][5] - The industrial sector is witnessing new momentum, particularly in humanoid and industrial robots, with production growth rates of 35.6% and 25.5% respectively [3][4] Group 3 - Institutions are focusing on undervalued growth sectors, with military industry and AI applications being highlighted as key areas for investment [6][8] - The AI application sector is expected to see further growth, driven by new model releases and the ongoing commercialization of AI technologies [6][9] - The macroeconomic backdrop, including a weak dollar and domestic growth policies, is seen as favorable for growth stocks, which are expected to benefit from improved liquidity and valuation [7][8] Group 4 - The technology growth trend is expected to continue, with a positive outlook for the market into 2025 and beyond, as structural improvements and capital inflows are anticipated [8][9] - AI remains a focal point within the growth sector, with expectations for accelerated innovation and expanded applications in various high-value scenarios [9]

● 本报记者 万宇 今年3月至7月，每个月新基金发行的数量都超过100只。随着上证指数站稳3500点，并突破3600点，市 场热度随之攀升，新基金发行的热度同样不减。数据显示，截至8月4日，披露发行日期的基金公告显示 已经有72只新基金在8月启动发行。 在部分日期，同日发行的新基金超过10只。8月1日，13只新基金开始发行；8月4日，更是有多达21只新 基金开始发行；8月11日，将有13只新基金开始发行。 发行新产品的机构既有易方达基金、广发基金、景顺长城基金等头部基金公司，开始发行易方达价值回 报、广发资源智选、景顺长城安恒增益三个月持有等产品；也有金鹰基金、百嘉基金等中小型公募，开 始发行金鹰中证全指自由现金流指数、百嘉科技创新等产品。 南方基金、富国基金、中欧基金等多家基金公司在8月都有多只基金开始发行，中欧基金甚至在8月4日 一天就有两只新基金同时启动发行，分别是中欧核心智选和中欧化工产业。 新发基金类型方面，权益类产品占多数。其中，16只主动权益类基金（包括偏股混合型基金和普通股票 型基金）开始发行，32只被动指数型基金开始发行。另外，还有3只混合型FOF、4只混合债券型二级基 金、9只中长期纯债型 ...

● 本报记者 张佳琳 在政策引导下，8月以来工商银行（601398）、农业银行（601288）、建设银行（601939）、交通银行 （601328）、平安银行等多家银行积极响应个人消费贷款贴息政策与服务业经营主体贷款贴息政策，部 署政策落地实施的各项准备工作，确保贴息政策精准高效地传导至千企万户，为提振消费、激发市场活 力注入强劲动能。 持续创新普惠金融产品 积极响应贷款贴息政策 不仅是工商银行，记者注意到还有多家国有大行、股份制银行持续加大对于个人消费贷款、服务业经营 主体贷款的支持力度。对于个人消费贷款贴息政策与服务业经营主体贷款贴息政策，多家银行表示，正 积极有序组织贷款贴息政策落实工作，持续创新金融产品，优化贷款流程，不断提高金融服务质效。 例如，交通银行表示，该行已研究制定《支持提振消费专项行动方案》，提出六大行动、35项具体措 施，推出个人贷款整体品牌"交银惠贷"，加大对以旧换新、汽车、家电家居、文旅健康、餐饮零售等重 点消费领域的支持力度。交通银行将积极贯彻落实贴息政策相关要求，切实做好政策传导，以数字化手 段和创新金融产品支持提振消费，让政策红利充分惠及各类主体。 滚烫的辣油浇在铺满鲜花椒的鱼 ...

Group 1 - Blue Arrow Aerospace and Yixin Aerospace have initiated their listing guidance work, marking a significant step for China's commercial aerospace companies in the capital market [1][2] - Blue Arrow Aerospace, valued at 20 billion yuan, has seen a 90 million yuan increase in valuation over the past year [2] - Yixin Aerospace, established in 2018, focuses on micro-satellite communication products and has developed IoT payloads for 26 satellites in orbit by 2024 [2] Group 2 - Multiple commercial aerospace companies have begun their A-share IPO journey, with companies like Star Glory and Aisida Aerospace also starting their listing guidance [3] - The commercial aerospace sector is characterized by high investment, high risk, and long cycles, with significant uncertainty in profitability before large-scale commercialization [4] - Blue Arrow Aerospace is focusing on the development and operation of medium and large liquid oxygen-methane launch vehicles, with its core product, the Zhuque-2 rocket, now in commercial operation [5][6] Group 3 - In 2024, China's commercial aerospace sector saw 138 financing events totaling 20.239 billion yuan, with satellite applications, rocket manufacturing, and satellite manufacturing receiving significant funding [7] - The China Securities Regulatory Commission has introduced policies to support the listing of technology-driven companies in emerging sectors, including commercial aerospace [8]

日前，财政部和税务总局发布公告，自2025年8月8日起，对在该日期之后(含当日)新发行的国债、地方 政府债券、金融债券的利息收入，恢复征收增值税。对在该日期之前已发行的国债、地方政府债券、金 融债券(包含在2025年8月8日之后续发行的部分)的利息收入，继续免征增值税直至债券到期。 中信保诚基金认为，国债、地方债、金融债恢复征收增值税整体来看对债市影响偏中性，但存量债券资 产相比后续新发债券有一定的结构性优势。即投资者在新增投资时，会优先选择具备增值税优势的老 券，新发的债券需要在票面利率上给予一定的税收补偿，导致未来各期限基准利率(新发)上行，但存量 估值受到影响相对较小。因此这一政策变化给予了债券市场投资端更多样的策略选择，债券市场走势主 要根据基本面和货币政策等因素来判断。在宽松的货币环境下，目前来看债券市场的配置价值依然较 好，在投资新券时仍需注意综合考虑税后收益。 禅龙资产表示，税收政策的调整对存量券和新发券采取"新老划断"，存量券相较于新发券具备免税优 势，短期机构投资者在综合成本的考虑之下，可能会出现抢购存量券的情况，部分交易盘对此进行博 弈，推动存量券收益率下行，而新发券由于征税，对机构投资者 ...

● 本报记者 杨梓岩 宠物经济浪潮下，国内宠物食品龙头中宠股份于8月5日晚披露2025年半年报。公告显示，中宠股份业绩 延续高增长态势，主粮业务爆发式增长与全球化产能布局成为核心驱动力。"随着年轻群体养宠渗透率 提升和消费升级，宠物行业正从基础用品向主粮、健康服务等高端领域延伸，产业链上市公司集体受 益。"业内人士表示，宠物经济已步入黄金发展期，但竞争加剧亦推动行业加速分化——产品研发、供 应链整合与全渠道运营能力将成为企业突围关键。龙头公司凭借技术壁垒和全球化资源整合优势，有望 在千亿赛道中持续领跑。 需求增长带动业绩提升 渠道市场双扩容 需求爆发的基础上，能否将市场潜力转化为持续竞争力，企业的渠道与市场布局能力至关重要。 中宠股份2025年半年度报告显示，今年上半年，中宠股份实现总营业收入24.32亿元，同比增长 24.32%；实现归母净利润2.03亿元，同比增长42.56%。 宠物主粮业务实现爆发式增长，成为中宠股份盈利新引擎。2025年上半年，公司宠物主粮收入达到7.83 亿元，同比增长85.79%，远高于宠物零食的6.37%增速，且毛利率达36.63%，显著优于宠物零食的 30.63%。 不止中宠股 ...

Sales Performance Summary - In July 2025, the company sold 6.355 million commodity pigs, representing a year-on-year increase of 13.02% [1] - The average selling price of commodity pigs was 14.30 yuan per kilogram, showing a year-on-year decrease of 21.86% [1] - The total sales revenue from commodity pigs was 11.639 billion yuan, reflecting a year-on-year decline of 10.41% [1] Monthly Sales Data - Cumulative sales data for the first seven months of 2025 shows a total of 44.749 million commodity pigs sold, with a cumulative revenue of 82.507 billion yuan [2] - The average price for commodity pigs in July 2025 was consistent with the previous month at 14.30 yuan per kilogram [2] Additional Sales Information - In July 2025, the company also sold 1.106 million piglets and 0.036 million breeding pigs [3] - The sales data provided is preliminary and unaudited, indicating potential discrepancies with periodic report disclosures [3]

Group 1 - Blue Arrow Aerospace and Yixin Aerospace have initiated their listing guidance work, marking a significant step for China's commercial aerospace companies in the capital market [1] - The China Securities Regulatory Commission (CSRC) has introduced policies to support companies in cutting-edge technology sectors, including commercial aerospace, to meet the fifth set of listing standards on the Sci-Tech Innovation Board [1][5] - Blue Arrow Aerospace's valuation has reached 20 billion yuan, increasing by 90 million yuan over the past year [1] Group 2 - Yixin Aerospace, established in 2018, focuses on the research and development of micro-satellite communication products and has provided IoT payloads for 26 satellites in orbit by 2024 [2] - Several commercial aerospace companies have begun their A-share IPO processes, with notable examples including Star Glory and Aisida Aerospace [2] - Industry experts emphasize the importance of building a funding support system and encouraging social capital investment in commercial aerospace [2] Group 3 - Blue Arrow Aerospace is focusing on the development and operation of medium and large liquid oxygen-methane launch vehicles, with its core product, the Zhuque-2 rocket, now in commercial operation [3] - The company has successfully completed a vertical landing test for its reusable Zhuque-3 rocket and has achieved a milestone in mass production of its rocket engine [3] - Multiple commercial rocket companies are working towards achieving reusable rocket technology and reducing costs to promote large-scale industrialization [3][4] Group 4 - The commercial aerospace industry in China has seen a surge in financing activities, with 138 financing events reported in 2024, totaling 20.239 billion yuan [4] - Leading companies in the sector, such as Tianbing Technology and Blue Arrow Aerospace, have raised over 1 billion yuan in cumulative financing [4] - The CSRC's recent policies aim to enhance support for emerging industries, particularly those in the commercial aerospace sector [5]

在中银证券首席策略分析师王君看来，8月投资应"轻指数，重结构"，在资金面支撑及基本面弱修复的 背景下，市场下行风险可控，节奏上或仍是"进二退一"，市场指数中枢有望逐级抬升。就风格而言，科 技成长板块有望迎来反弹机会。 青睐TMT、军工、医药等板块 "中上旬指数可能会呈现震荡格局，中下旬重新回归此前的上行趋势。"谈及对A股8月行情的展望，招 商证券首席策略分析师张夏如是说。 在经历小幅调整后，8月4日-5日，A股市场连续反弹。截至8月5日收盘，A股三大股指集体收涨，其中 上证指数重新站上3600点关口，并创出今年以来收盘新高。从成交情况看，A股近几个交易日的日成交 额均在1.5万亿元以上，市场交投活跃态势仍在延续。 在张夏看来，8月进入上市公司中报业绩集中披露期，部分涨幅比较大、偏主题概念的股票面临一定调 整压力，但8月中旬后市场风险偏好有望提升，叠加盈利效应积累后场外增量资金持续流入，最终A股 在8月有望走出"先抑后扬"走势，指数创下今年以来新高的可能性较大。 国泰海通首席策略分析师方奕同样看好A股股指后市续创今年以来新高，对投资者而言，市场出现调整 应"逆势"提高仓位："'反内卷'背后是经济治理思路的转变， ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 一、认证情况 中船（邯郸）派瑞特种气体股份有限公司（以下简称"公司"）近日收到日本GIGAPHOTON株式会社 （以下简称"GIGAPHOTON"）发来的合格供应商认证证书，公司光刻气产品（Kr/Ne、Ar/Ne/Xe）通过 了GIGAPHOTON的合格供应商认证，证书有效期至2030年7月23日。 二、日本GIGAPHOTON株式会社基本情况介绍 三、本次合格供应商认证对公司的影响 本次获得GIGAPHOTON光刻气产品（Kr/Ne、Ar/Ne/Xe）合格供应商认证，表明公司相关产品在纯度、 稳定性等核心性能指标上已满足国际高端半导体制造领域的严格要求。该认证是对公司技术研发实力和 产品质量控制体系的重要认可。获得此项认证，有助于公司拓展在高端半导体设备产业链中的业务机 会，提升在电子特种气体领域的市场竞争力，对公司拓展光刻气产品业务具有积极作用。 四、风险提示 公司本次获得GIGAPHOTON的合格供应商认证体现了光刻机激光设备厂商对公司光刻气产品的认可， 该认证本身并不 ...