晨会纪要 2025-04-02 2025 年 04 月 02 日 星期三 【摘要】 【今日上市】 001389 广合科技 2025-04-02(上市日(公众部分)) 301658 N首航 2025-04-02(上市日(一般法人获配)) 【公告停牌】 159529 景顺长城标普消费精选ETF(QDII) 2025-04-02(为保护投资者利益,景顺长城标普消费精选ETF(QDII)将于 2025年4月2日开市起至当日10:30停牌) 159612 国泰标普500ETF 2025-04-02(为维护投资者利益,国泰标普500ETF将于2025年4月2日开市起至当日10:30停 牌) 159685 天弘中证1000增强策略ETF 2025-04-02(刊登基金份额持有人大会表决结果暨决议生效的公告,停牌1小时) 159822 新经济 2025-04-02(为了保护基金份额持有人的利益,新经济将于2025年4月2日开市起至当日10:30停牌) 164701 汇添富黄金及贵金属(QDII-LOF-FOF)A 2025-04-02(为保护投资者利益,汇添富黄金及贵金属(QDII-LOF- FOF)A将于2025年4月2日 ...

晨会纪要 2025-04-01 2025 年 04 月 01 日 星期二 【摘要】 ————————————————————————————————————————————— 敬请阅读末页的条款 第1页 【今日上市】 | 001335 信凯科技 2025-04-01(网上中签率公布日) | | --- | | 301662 宏工科技 2025-04-01(初步询价起始日期) | | 301662 宏工科技 2025-04-01(初步询价终止日期) | | 301665 泰禾股份 2025-04-01(网上中签率公布日) | | 603120 肯特催化 2025-04-01(初步询价终止日期) | | 603120 肯特催化 2025-04-01(初步询价起始日期) | 【公告停牌】 159329 南方基金南方东英沙特阿拉伯ETF(QDII) 2025-04-01(为保护投资者的利益,南方基金南方东英沙特阿拉伯 ETF(QDII)将于2025年4月1日开市起至当日10:30停牌) 159529 景顺长城标普消费精选ETF(QDII) 2025-04-01(为保护投资者利益,景顺长城标普消费精选ETF(QDII) ...

每日市场观察 2025 年 4 月 1 日 【今日关注】 周一指数收跌，成交额 1.24 万亿，比上一交易日增加约 900 亿。行业 多数收跌，电力设备、军工、地产、传媒等行业跌幅居前，通信、家 电、银行、公用事业等小幅上涨。 美国总统特朗普的"对等关税"政策与地缘局势的变数，对全球金融 市场造成扰动。上午 A 股跌幅一度较大，但是午后出现较强修复，从 其修复力度观察，似平有资金开始试探性入场，在经过一段持续的调 整之后，这一信号含有较多的积极含义。但另一方面，上午的跌幅较 大，全天市场指数仍然收阴，行业跌多涨少，所以市场主动做多的意 愿还有待提升。另外年报和一季报的业绩披露仍在进行当中，其中的 不确定性对市场还会有较大影响。综合来看，市场在当前位置可能还 有一定的弱势震荡，但对部分行业板块需要开始增加关注力度。 机器人板块对整体市场走势仍有重要影响，在经过一定调整后，其调 整幅度似乎仍不充分。而其他科技板块如算力、半导体、AI 应用等有 一些积极信号出现，周一盘中出现深 V 修复，但整体力度仍有欠缺。 上周半导体展会上，国产设备厂商已经展示出较大的研发进度，其对 行业上下游的潜在影响需要引起持续关注。 【市 ...

Market Overview - On March 28, the Shanghai Composite Index fell by 0.67%, the Shenzhen Component Index by 0.57%, and the ChiNext Index by 0.79%[2] - On March 28, net outflows from the Shanghai Stock Exchange were 5.927 billion CNY, and from the Shenzhen Stock Exchange were 1.708 billion CNY[3] Sector Performance - The leading sectors on March 31 included precious metals, diversified finance, cultural media, and bioproducts, while the chemical sector saw the largest decline[1] - The main inflow sectors were chemical pharmaceuticals, general equipment, and film and television, while the largest outflow sectors were agricultural chemicals, chemical raw materials, and specialized equipment[4] Policy and Industry Trends - The State Administration for Market Regulation aims to promote traditional industries' transformation and strategic emerging industries' growth through quality infrastructure projects[5] - A new plan for the aluminum industry emphasizes capacity consolidation and the development of competitive advanced manufacturing clusters[6] Investment Strategies - Short-term strategies suggest focusing on defensive sectors and exploring long-term opportunities in technology sectors[1] - Investors are encouraged to leverage short-term adjustments to identify better investment opportunities aligned with national policy support[1] Fund Dynamics - In February 2025, 828 private asset management products were registered, a year-on-year increase of 66.6%, with a total scale of 1.45723 billion CNY[13] - The total scale of private asset management products reached 12.18 trillion CNY by the end of February 2025, reflecting a slight increase of 0.03%[13] AI and Technology Focus - The AI industry is expected to see continued growth, particularly in mobile devices and smart driving technologies, as North American manufacturers begin a new product innovation cycle in 2025[14][15]

行 业 及 产 业 食品饮料 2025 年 03 月 25 日 行 业 研 究 行 业 月 报 证 券 研 究 报 告 马燕 15901097973 S0400524090001 mayan@cdzq.com 食品饮料行业周报 标配(维持) ——春糖反馈平稳，酒企&渠道更为理性 | 1．二级市场表现 . | | --- | | 1.1 板块及个股表现 | | 1.2 估值情况 . | | 2．宏观数据跟踪… | | 2. 1 宏观流动性数据 . | | 2. 2 社零及餐饮数据 | | 3．主要消费品及原材料量价数据 | | 3.1 白酒价格 . | | 3.1.1 高端白酒价格 . | | 3.1.2 次高端白酒价格 | | 3.2 白酒、啤酒和葡萄酒产量 | | 3. 3 上游原材料数据 ………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………10 | | 4． 行业动态 …………………………………………………………………………… ...

每日市场观察 2025 年 3 月 28 日 【今日关注】 盘面回顾：沪深两市开盘后快速下探并回升，走出"U"型形态，冲高 后震荡回落至收盘。此种走势表明市场当前仍存在较大分歧，资金博 弈现象明显。从中证全指表现来看，指数在上冲至前期高位区间后， 虽然出现回调表现，但仍未破坏宽幅震荡上行趋势。因此，当前市场 较前期并未出现明显的逻辑变化，延续性较好。板块方面，医药、化 学相关行业涨幅居前，估计主要受市场产品涨价、行业规模扩容等利 好推动。 板块机会：结合大盘宽幅震荡、资金博弈较为明显的特点，后续大概 率仍会以板块轮动为主。当前正处于年报披露期，因此资金对于产业 数据较为敏感。有些领域具备较为确定的涨价空间或利好预期，包括 上游原材料、能源等方向，有望在近期持续受到资金关注。 后市策略：短期建议跟随年报披露节奏，选择业绩预期相对确定的板 块和个股制定策略。中长期建议仍然关注新质生产力相关概念，尤其 是官方重点扶持、短期调整较深的领域。策略方面，结合中证全指宽 幅震荡的走势，建议合理控制仓位、提升操作频度。追求风格稳健的 投资者，可以重点关注行业或概念相关 ETF。 【市场回顾】 市场概况：3 月 27 日，市场 ...

Market Overview - The three major stock indices in China experienced slight declines on March 26, with the Shanghai Composite Index down 0.04%, the Shenzhen Component down 0.05%, and the ChiNext Index down 0.26%[3] - A total of 3,531 stocks rose while 1,498 stocks fell, with total trading volume exceeding 1.15 trillion CNY, indicating a continued contraction in market activity[1] Sector Performance - Sectors such as chemical fiber, electric machinery, automotive services, photovoltaic equipment, agriculture, and textile clothing showed notable gains, while shipbuilding, banking, mining, insurance, electricity, and coal sectors experienced slight adjustments[1] - The robotics sector remained a focal point for market funds, with significant interest in pork and chicken, industrial mother machines, and copper during intraday trading[2] Capital Flow - On March 26, net inflows into the Shanghai Stock Exchange amounted to 7.475 billion CNY, while the Shenzhen Stock Exchange saw net inflows of 5.514 billion CNY[4] - The top three sectors for capital inflow were general equipment, automotive parts, and electric machinery, while the sectors with the highest outflows included joint-stock banks, electricity, and securities[4] Industry Insights - The global semiconductor equipment spending is projected to grow by 2% in 2025, reaching 110 billion USD, marking the sixth consecutive year of growth since 2020[9] - The global smart camera market is expected to ship 137 million units in 2024, reflecting a year-on-year growth of 7.7%, although the growth rate is slowing compared to 2023[10] Strategic Recommendations - Investors are advised to focus on sectors related to artificial intelligence and robotics for potential value opportunities, while being cautious of companies with disappointing earnings forecasts for annual and quarterly reports[2] - The tourism and hotel sectors should be closely monitored as the "May Day" holiday approaches, approximately one month away[2]

晨会纪要 2025-03-26 2025 年 03 月 26 日 星期三 【摘要】 【今日上市】 603257 中国瑞林 2025-03-26(网上申购日) 【公告停牌】 159329 南方基金南方东英沙特阿拉伯ETF(QDII) 2025-03-26(为保护投资者的利益,南方基金南方东英沙特阿拉伯 ETF(QDII)将于2025年3月26日开市起至当日10:30停牌) 159529 景顺长城标普消费精选ETF(QDII) 2025-03-26(为保护投资者利益,景顺长城标普消费精选ETF(QDII)将于 2025年3月26日开市起至当日10:30停牌) 159612 国泰标普500ETF 2025-03-26(为维护投资者利益,国泰标普500ETF将于2025年3月26日开市起至当日10:30停 牌) 【特殊停牌】 000722 湖南发展 2025-03-26(因筹划重大资产重组,公司股票将于2025年3月19日开市起停牌) 002529 海源复材 2025-03-26(因公司拟筹划重大事项,公司股票将于2025年3月24日开市起停牌) 012381103 23中林集团SCP003 2025-03-26(2 ...

Summary of Key Points Core Insights - The report highlights the upcoming IPO of China Ruilin (stock code: 603257) on March 26, 2025, indicating a significant market event for investors [1] - Several ETFs, including Southern Fund's Saudi Arabia ETF and Invesco's S&P Consumer Select ETF, are temporarily suspended to protect investor interests, reflecting ongoing market volatility [1] - Major asset restructuring plans are underway for Hunan Development (stock code: 000722) and Haiyuan Composite (stock code: 002529), which may impact their stock performance [1] Company Announcements - China Ruilin is set to go public on March 26, 2025, with online subscription available [1] - Hunan Development's stock is suspended due to significant asset restructuring plans starting from March 19, 2025 [1] - Haiyuan Composite's stock is suspended as the company plans to undertake major matters starting from March 24, 2025 [1] ETF and Bond Suspensions - Southern Fund's Saudi Arabia ETF, Invesco's S&P Consumer Select ETF, and Guotai's S&P 500 ETF will be suspended until 10:30 AM on March 26, 2025, to safeguard investor interests [1] - Multiple bonds, including those from Zhonglin Group, have been suspended since November 21, 2023, indicating ongoing financial adjustments [1][2][3][4][5][6][7][8]

Market Overview - On March 25, the A-share market experienced fluctuations, with the Shanghai Composite Index closing flat, the Shenzhen Component down 0.43%, and the ChiNext Index down 0.33%[4] - The total trading volume was below 1.3 trillion yuan, a decrease of over 190 billion yuan compared to the previous trading day, with more than 2,500 stocks rising[1] Sector Performance - Leading sectors included coal, chemicals, oil, non-ferrous metals, and banking, while sectors such as computers, media, communications, automobiles, and machinery equipment saw significant declines[1] - The market is currently in a balanced state, with a focus on structural opportunities, particularly in the controllable nuclear fusion concept stocks[1] Fund Flow - On March 25, the net inflow for the Shanghai Stock Exchange was 4.537 billion yuan, while the Shenzhen Stock Exchange saw a net outflow of 2.178 billion yuan[5] Economic Insights - The chairman of China Construction Bank announced a target to provide financing of no less than 8 trillion yuan for the private economy by the end of 2027, emphasizing the importance of the private sector for high-quality development[6] - The Chinese economy is reportedly on a stable and sustainable growth trajectory, as stated by the president of the China Economic System Reform Research Association[9] Investment Recommendations - Investors are advised to focus on industries with high earnings growth in the first quarter, particularly in consumer sectors (automobiles, home appliances) and cyclical products with price increases[3] - In the current market environment, low-valuation, high-dividend sectors like electricity and coal are attracting attention for risk-averse investments[2]