证券研究报告 2025 年 06 月 04 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3361.98 | 0.43 | | 深证成指 | 10057.17 | 0.16 | | 创业板指 | 2002.70 | 0.48 | | 科创 50 | 981.71 | 0.48 | | 北证 50 | 1423.15 | 1.03 | A 股市场概览 | 类别 | 总市值 | 流通市值 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | (亿元) | PE | PB | | 上证指数 | 648141 | 505727 | 11.90 | 1.23 | | 深证成指 | 214722 | 181765 | 19.77 | 2.09 | | 创业板指 | 56783 | 44758 | 26.46 | 3.68 | | 科创 50 | 33781 | 22052 | 53.16 | 4.07 | | 北证 50 | 3048 | 2119 | 47.96 | 4.78 | ...

证券研究报告 2025 年 06 月 03 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3347.49 | -0.47 | | 深证成指 | 10040.63 | -0.85 | | 创业板指 | 1993.19 | -0.96 | | 科创 50 | 977.03 | -0.94 | | 北证 50 | 1408.68 | -0.51 | | 沪深 300 | 3840.23 | -0.48 | A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 644994 | 503389 | 11.84 | 1.23 | | 深证成指 | 213804 | 181178 | 19.71 | 2.08 | | 创业板指 | 56439 | 44499 | 26.29 | 3.66 | | 科创 50 | 33697 | 21971 | 53.02 | 4.06 | | 北证 ...

Market Overview - The A-share market showed a rebound with the Shanghai Composite Index closing at 3363.45, up 0.70%, and the Shenzhen Component Index at 10127.20, up 1.24% [2][7] - The overall market sentiment improved, with the total trading volume reaching 12134.1 billion, an increase of 1795.37 billion compared to the previous trading day [8][9] Industry Dynamics - The lithium-ion battery import value in India for 2024 reached 2.88 billion USD, a year-on-year decrease of 13.2%, with a total of 10.7 billion units imported, marking a 3.9% increase [27] - The silicon-carbon anode industry is transitioning to a phase focused on mass production stability and consistency, with significant advancements in performance metrics being reported [29][31] Company Updates - Zejing Pharmaceutical (688266.SH) received approval for its new drug, Jikaxitini tablets, which are indicated for specific types of myelofibrosis and have been recommended in clinical guidelines [32][34] - Anhui Heli (600761.SH) signed a strategic cooperation agreement with JD Group to develop intelligent logistics and a green supply chain ecosystem [37] - Guizhou Chuanheng Chemical (002895.SZ) may trigger redemption conditions for its convertible bonds due to stock price performance [35]

2025 年 05 月 29 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3339.93 | -0.02 | | 深证成指 | 10003.27 | -0.26 | | 创业板指 | 1985.38 | -0.31 | | 科创 50 | 970.64 | -0.23 | | 北证 50 | 1378.23 | -1.39 | | 沪深 300 | 3836.24 | -0.08 | A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 643291 | 502476 | 11.83 | 1.23 | | 深证成指 | 213356 | 180634 | 19.67 | 2.08 | | 创业板指 | 56288 | 44371 | 26.23 | 3.65 | | 科创 50 | 33422 | 21829 | 52.95 | 4.03 | | 北证 50 | 2 ...

2025 年 05 月 28 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3340.69 | -0.18 | | 深证成指 | 10029.11 | -0.61 | | 创业板指 | 1991.64 | -0.68 | | 科创 50 | 972.92 | -0.95 | | 北证 50 | 1397.64 | 0.08 | | 沪深 300 | 3839.40 | -0.54 | A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 643439 | 502289 | 11.82 | 1.23 | | 深证成指 | 214172 | 181141 | 19.71 | 2.08 | | 创业板指 | 56808 | 44773 | 26.28 | 3.66 | | 科创 50 | 33561 | 21879 | 53.13 | 4.05 | | 北证 50 | 30 ...

证券研究报告 2025 年 05 月 27 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3346.84 | -0.05 | | 深证成指 | 10091.16 | -0.41 | | 创业板指 | 2005.26 | -0.80 | | 科创 50 | 982.26 | 0.17 | | 北证 50 | 1396.59 | 1.94 | A 股市场概览 | 类别 总市值 | 流通市值 | 市盈率 | 市净率 | | --- | --- | --- | --- | | (亿元) | (亿元) | PE | PB | | 上证指数 643974 | 503208 | 11.84 | 1.23 | | 深证成指 215144 | 181869 | 19.84 | 2.10 | | 创业板指 56809 | 44765 | 26.43 | 3.68 | | 科创 50 33863 | 22121 | 53.74 | 4.08 | | 北证 50 3036 | 2116 | 47.68 | 4.72 | | 何晨 | 分析师 | | - ...

| 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指 | 644294 | 503493 | 11.85 | 1.23 | | 数 | | | | | | 深证成 | 216399 | 182576 | 19.98 | 2.11 | | 指 | | | | | | 创业板 | 57345 | 45195 | 26.70 | 3.71 | | 指 | | | | | | 科创 50 | 33731 | 22078 | 53.61 | 4.07 | | 北证 50 | 2944 | 2042 | 46.80 | 4.63 | 证券研究报告 2025 年 05 月 26 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3348.37 | -0.94 | | 深证成指 | 10132.41 | -0.85 | | 创业板指 | 2021.50 | -1.18 | | 科创 50 | 980.58 | ...

证券研究报告 2025 年 05 月 23 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3380.19 | -0.22 | | 深证成指 | 10219.62 | -0.72 | | 创业板指 | 2045.57 | -0.96 | | 科创 50 | 990.71 | -0.48 | | 北证 50 | 1388.83 | -6.15 | | 沪深 300 | 3913.87 | -0.06 | A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 650258 | 508288 | 11.94 | 1.24 | | 深证成指 | 217973 | 183987 | 20.11 | 2.12 | | 创业板指 | 57931 | 45653 | 26.95 | 3.75 | | 科创 50 | 34081 | 22294 | 53.99 | 4.11 | | 北证 ...

Market Overview - The A-share market shows a mixed performance with the Shanghai Composite Index closing at 3387.57, up by 0.21% [2] - The Shenzhen Component Index and the ChiNext Index also experienced gains of 0.44% and 0.83% respectively, while the Sci-Tech 50 Index declined by 0.22% [2][6] - The overall market capitalization of the Shanghai Composite Index is 6511.95 billion, with a PE ratio of 11.97 and a PB ratio of 1.24 [3] Industry Dynamics - Jinlongyu New Energy has secured an order for 100,000 solid-state batteries, marking a significant milestone in the high-performance customized battery market for drones [24] - Google announced a partnership with XREAL to launch the first AR glasses designed for the Android XR platform, indicating a pivotal moment for the AR industry [26] - The smartphone market in the Middle East saw a 4% decline in shipments in Q1 2025, attributed to slowing retail demand and cautious consumer behavior [27] Company Updates - David Medical (300314.SZ) has added new models of medical infant beds and completed the registration change for Class I medical devices, enhancing its product line and competitiveness [29] - Haisco (002653.SZ) received a drug registration certificate for its innovative drug Anruikefen injection, which is significant for pain management post-abdominal surgery [30] - Weiling Co., Ltd. (002667.SZ) successfully acquired a 74.3% stake in Hunan Linwu Jiayu Mining Co., indicating strategic expansion in the mining sector [33]

证券研究报告 吧 宏观报告 特朗普 2.0 时代的政策研究 海外市场专题 2025 年 05 月 07 日 中债综指-上证指数走势图 -14% -9% -4% 1% 6% 11% 16% 中债综指 上证指数 张雯婷 分析师 执业证书编号:S0530524030002 zhangwenting30@hnchasing.com 相关报告 投资要点 此报告 考 请务必阅读正文之后的免责条款部分 通过对比特朗普1.0时代与当下执政环境的不同及对美国当下现状的 分析，对特朗普 2.0 时期政治诉求及政策路径进行分析研判。 执政环境与 1.0 时期不同：1）更高的支持率。2024 年的大选中，特 朗普基本完成罕见的"三权合一"；2）忠诚度筛选机制下的"同质化 团队"。一是将政治忠诚度放在首位。二是团队与特朗普政治理念趋 同。三是对华强硬派有所增加；3）选民基础及核心诉求。特朗普赢得 2024 年选举主要得益于：MAGA 群体及对民主党失望倒戈的选民。 特朗普 2.0政策核心内涵：整体来看，我们认为其核心内涵可归纳为 以下三个方面。1）产业结构层面：引导制造业回归；2）经济层面： 财政减负；3）社会治理层面：意识形态的重塑 ...