今日无新债 | 殿 世昌股份 920022 纽 10.90 | 发行/行业市盈率 10.74/28.77 | | --- | --- | | 发行价(元) | 申购上限 74.57万股 | 投资有风险，入市需谨慎。本内容不构成任何投资建议。投 资者不应以该等信息取代其独立判断或仅根据该等信息做出 决策。申万宏源对这些信息的准确性或完整性不作保证，亦 不对因使用该等信息而引发或可能引游艇赢家登录品 免责声明 ...

供参考，如APP有更新， 请以实际显示界面为准。 市场有风险 ，入市需谨慎。 开户时请先在应用商店搜索下载"申万宏源大赢家"APP： 扫码下载大赢家APP 并准备好本人身份证、银行卡。 开户营业部选择" 16 51 - 上 海市静安区-北京西路营 业部 " 以下内容仅 仪 迷 元 温馨服务 01) 开户首页 点击"立即开户",开始开户流程或继续开户 流程。点击"继续上次开户"可查看开户进度 和继续开户流程。点击"一键检查"检查手机 设备是否满足开户需要。 板下 H 做好准备,轻松几步搞定开户 二代身份证 银行借记卡 刈塔市 一键检查 视频见证服务时间: 9:00~17:00 立即开户 财富官理 继续上次开户 > 75% 上次于2020-04-24已经提交 请,已完成进度75% 菲斯开户 ·继续上次开户 键检查 开户手机号码验证 甲万宏源证券开户 身份验证 资料完善 56s后重发 请输入验证码 没有收到短信吗?点击获取语音验证码 - નેને 选择开户营业部 03) 选择开户地区和营业部,点击"获取定位"可 就近推荐营业部。可选填推荐人信息,系统 根据员工工号自动匹配。 10:36 1 .. II ? C+ 选 ...

以下文章来源于申万宏源证券上海分公司 ，作者李金玲 申万宏源证券上海分公司 . 申万宏源证券上海分公司官微，能为您提供账户开立、软件下载、研究所及投顾资讯等综合服务，为您的财富保驾护航。 数据速看： 1.主力资金： 近两周主力资金合计净流出-5188.95亿元，无行业实现主力资金净流入，主力资金净流出额前三的行业为计算机、电子和机械设备。 2.融资融券数据 ：当前市场融资融券余额为22795.44亿元，较上期上升6.18%，其中融资余额22642.11亿元，融券余额153.33亿元。本期两融日均交易额为 3167.08亿元，较上期上升30.19%，其中融资日均净买入3158.54亿元，较两周前上升30.18%，融券日均净卖出8.54亿元，较上期上升36.06%。近两周融资 净买入前三的行业分别为电子、电力设备和通信；融券净卖出前三的行业分别为电子、医药生物和电力设备。 3.涨跌情况： 近两周全市场下跌家数高于上涨家数，近两周涨幅前三的行业为电力设备、综合和有色金属，跌幅前三的行业为国防军工、计算机和非银金 融。 4.强弱分析： 近两周全部A股强弱分析得分为4.07，沪深300强弱分析得分4.56，创业板强弱分 ...

首先，美联储降息预期主导市场短期运行。美国近期披露的新增非农就业数据低于市场预期，失业 率有所抬升，这进一步提高了市场对于美联储本月议息会议上进行降息的预期。从历史经验来看，大宗 商品和新兴市场资产价格往往在美元降息周期中受益或者表现活跃。这或许是主导国内股市短期运行的 一个重要力量。当然，正在陆续公布的八月份的宏观经济数据也会在很大程度上提供行情波动的线索， 但投资者总体更关注的是目前的国内宏观政策的实施力度，特别是"反内卷"工作的推进。因为这对 PPI 是否能够快速回升，进而加快上市公司利润增长有重大影响。 其次，两市震荡上行，沪指收回五天均线。周一，沪指小幅低开后震荡上行，收盘站上了五天均 线，但仍在十天均线下方。深圳成指近期相对强势，上周五已经收回全部短期均线，周一涨幅继续领先 沪市。两市量能达到 2.4 万亿元左右，较上周五略有放大。微观结构上，全天个股涨多跌少，全天涨停 股票数量较多。当天市场热点主要集中在化工和机械。投资风格方面，中小盘涨幅领先。 从市场运行节奏看，市场连续上行后，正在展开技术整固。沪指越过 2021 年的市场高点后，有加 速上行迹象，五天均线的乖离率明显增加，八月底开始，市场出 ...

Group 1 - The external environment has shown disturbances, leading to a slight increase in risk aversion, with significant rises in London gold prices driven by political and economic fluctuations in Europe and the US, causing a decline in investor confidence in sovereign debt [1] - The A-share market experienced a technical correction last week, influenced by these external factors, while the US stock market showed less volatility due to strong technology sector performance [1] - Last week, the market saw adjustments with the Shanghai Composite Index fluctuating, breaking below the 20-day moving average mid-week but recovering above it by Friday, while the Shenzhen Component Index outperformed, closing above the 5-day moving average [1] Group 2 - The market is currently undergoing technical consolidation after a continuous upward trend, with the Shanghai Composite Index showing signs of accelerated upward movement after surpassing the 2021 market peak, although profit-taking has emerged, indicating a divergence between bulls and bears [2] - Despite short-term fluctuations, the medium-term trend remains unchanged, with continued buying momentum expected, suggesting that structural market opportunities may still be anticipated [2]

Group 1 - The expectation of a turning point in the profit growth rate of listed companies has increased, with A-share non-financial and "three barrels of oil" companies showing a rebound in net profit growth to 6.8% in Q1 2025, followed by a decline to 2.9% in Q2 2025, but maintaining positive growth due to decreasing base pressure from 2024 [5][10] - Domestic growth stabilization measures are being implemented, including policies like "anti-involution," infrastructure projects in the western regions, and childbirth subsidies, creating a dual focus on supply and demand [5][10] - The stock market is increasingly optimistic about the overall profit growth of listed companies potentially transitioning from negative to positive, which is a significant factor influencing the mid-term market trend [5][10] Group 2 - The Federal Reserve's "neutral dovish" policy stance has significantly raised expectations for interest rate cuts in September, with implied probabilities for a cut rising from 72% to 94%, and the total number of cuts expected in 2026 increasing from 5.0 to 5.3 [6][13] - The rise in U.S. interest rate cut expectations has led to increased activity in global equity and commodity markets, marking it as a core influencing factor for market performance in September [6][13] Group 3 - The equity risk premium of the CSI 300 index was recorded at 5.61 at the end of August, significantly lower than the historical average, indicating a trend towards mean reversion [6][15] - The number of stocks in the market with gains exceeding 20% reached 789 in August 2025, a 76% increase from the previous month, marking the highest count for the year and reflecting a strong market characteristic [7][17] Group 4 - The Shanghai Composite Index has shown a rapid upward trend after breaking through its previous trading range, overcoming key resistance levels from the last quarter of the previous year and 2021 [8][19] - The CSI 300 index has also broken through its previous high from the last quarter of the previous year, indicating a potential return to an upward trend, with long-term resistance levels possibly turning into support [8][22]

Core Viewpoint - The article discusses the launch of the "Science and Technology Innovation Growth Layer" on the STAR Market, aimed at supporting unprofitable but promising technology companies, with specific guidelines for investors to participate in trading these stocks [5][19]. Group 1: Introduction to the Growth Layer - The "Science and Technology Innovation Growth Layer" was officially established on July 13, 2025, by the Shanghai Stock Exchange, marking a new phase for unprofitable technology enterprises [5]. - This layer is designed to enhance inclusivity for technology companies with significant growth potential that are not yet profitable [9][17]. Group 2: Participation Guidelines - Investors who already have STAR Market trading permissions and have a risk tolerance assessment of C4 (active) or above can trade stocks or depositary receipts listed after the new regulations [7][11]. - For investors without STAR Market trading permissions, they must first meet the basic requirements and open trading permissions before signing the risk disclosure for the Growth Layer [11][12]. - Specific requirements for individual investors include maintaining an average asset of at least 500,000 RMB in their accounts over the past 20 trading days, having at least 24 months of trading experience, and passing a knowledge test on STAR Market trading [12]. Group 3: Identification and Labeling - Stocks from the Growth Layer will have a "U" identifier to indicate their unprofitable status, with new registered stocks labeled as "成" and existing stocks labeled as "成1" to differentiate between them [17].

供参考，如APP有更新， 请以实际显示界面为准。 市场有风险 ，入市需谨慎。 以下内容仅 仪 迷 元 温馨服务 开户时请先在应用商店搜索下载"申万宏源大赢家"APP： 扫码下载大赢家APP 并准备好本人身份证、银行卡。 开户营业部选择" 16 51 - 上 海市静安区-北京西路营 业部 " 01) 开户首页 点击"立即开户",开始开户流程或继续开户 流程。点击"继续上次开户"可查看开户进度 和继续开户流程。点击"一键检查"检查手机 设备是否满足开户需要。 板下 H 做好准备,轻松几步搞定开户 二代身份证 银行借记卡 刈塔市 一键检查 视频见证服务时间: 9:00~17:00 立即开户 财富官理 继续上次开户 > 75% 上次于2020-04-24已经提交 请,已完成进度75% 菲斯开户 ·继续上次开户 键检查 开户手机号码验证 输入开户手机号后,点击"获取验证码"进行 手机号验证。收不到验证码短信可点击"语 音验证码"通过电话语音形式接收。 10:36 传身份证 可选择"扫描"、"拍照"或"从相册选择"自动 识别身份证信息, 推荐使用"扫描"方式。 除"国籍"和"身份证号"不可修改之外,其他 字段均可修改。如 ...

Group 1 - The core viewpoint of the article emphasizes that during the "14th Five-Year Plan" period, local economic growth can seek new momentum from three aspects: supply side, demand side, and enterprise development [2][3] Group 2 - From the supply side, the article highlights the need to focus on new growth points in industries. The contribution of agriculture to GDP has decreased from 9.5% at the end of the "11th Five-Year Plan" to 7.2% at the end of the "14th Five-Year Plan," while the service sector's contribution has increased significantly, reaching 56.7% by the end of 2024, up 11.6 percentage points from the end of the "11th Five-Year Plan" [4][5] Group 3 - On the demand side, the article points out that service consumption is becoming a more direct driver of local economic growth compared to goods consumption. In 2024, national service retail sales are expected to grow by 6.2%, outpacing goods retail sales by 3 percentage points, with per capita service consumption expenditure increasing by 7.4% [6][7] Group 4 - The article discusses the importance of high-quality enterprise development as a source of economic momentum. It emphasizes the need for innovation in enterprises, including original technology, model innovation, and concept innovation, to enhance market responsiveness and efficiency [8][9]

免责声明 投资有风险，入市需谨慎。本内容不构成任何投资建议。投 资者不应以该等信息取代其独立判断或仅根据该等信息做出 决策。申万宏源对这些信息的准确性或完整性不作保证，亦 不对因使用该等信息而引发或可能引游艇赢家预报品副副 今日无新股新债 % 公众号 · 申万宏源证券上海北京西路营业部 ...