从连续性进行统计， 有2只股获南向资金连续3天以上净买入，连续净买入天数较多的有阿里巴巴-W、 中芯国际，连续净买入天数分别为4天、4天。以其间净买入金额统计，净买入金额最多的是中芯国际， 合计净买入为11.76亿港元，其次是阿里巴巴-W合计净买入为5.78亿港元。（数据宝） 7月22日南向资金成交活跃股 | 代码 | 简称 | 成交金额（万港元） | 成交净买入（万港元） | 今日涨跌幅（%） | | --- | --- | --- | --- | --- | | 02628 | 中国人寿 | 191863.98 | 87850.80 | 4.23 | | 00939 | 建设银行 | 202947.92 | 75542.83 | -1.19 | | 00981 | 中芯国际 | 456868.79 | 51150.55 | 2.75 | | 03690 | 美团-W | 400715.04 | 38247.29 | -1.38 | | 06655 | 华新水泥 | 482203.23 | 33955.91 | -15.05 | | 03339 | 中国龙工 | 327254.27 | 26330.16 | ...

Group 1 - On July 22, 2025, the top three companies by trading volume in the Hong Kong Stock Connect (southbound) were Dongfang Electric (01072) with a trading volume of 4.374 billion, Huaxin Cement (06655) with 3.489 billion, and Tencent Holdings (00700) with 2.647 billion [1] - In the Shenzhen-Hong Kong Stock Connect (southbound), the top three companies by trading volume were SMIC (00981) with 1.979 billion, Meituan-W (03690) with 1.833 billion, and Alibaba-W (09988) with 1.739 billion [1] Group 2 - The top active companies in the Hong Kong Stock Connect (southbound) included Dongfang Electric (01072) with a net buy of 0.165 billion, Huaxin Cement (06655) with 0.313 billion, and Tencent Holdings (00700) with 0.271 billion [2] - In the Shenzhen-Hong Kong Stock Connect (southbound), SMIC (00981) had a net buy of 0.779 billion, while Meituan-W (03690) had a net sell of 0.050 billion [2]

Core Viewpoint - The stock performance of Dongfang Electric has diverged between its A-shares and H-shares, influenced by a significant trading anomaly and the commencement of a major hydropower project, which is expected to provide substantial business opportunities for the company [2][3][9]. Trading Performance - On July 22, Dongfang Electric's A-shares opened with a "limit-up" and closed at the same level, continuing a strong upward trend from the previous trading day [3][9]. - In contrast, the H-shares experienced volatility, initially rising over 12% before closing down 2.84% [4][5]. - An unusual trading event on July 21 saw the H-shares surge by 65% due to a single erroneous trade that inflated the price by over 700% [5][8]. Trading Anomaly - The spike in H-share trading volume reached 101 billion HKD, a dramatic increase from less than 2 million HKD the previous day [5][6]. - The anomalous trading was attributed to a possible "fat finger" error, where a trader mistakenly entered a high price, triggering a series of high-value trades [5][7]. - The influx of southbound capital contributed significantly, with net purchases reaching 10.85 billion HKD, accounting for 10.7% of the total trading volume [8]. Industry Context - The commencement of the Yarlung Tsangpo hydropower project is expected to benefit Dongfang Electric, as it positions the company to secure substantial orders related to the project [9]. - Analysts estimate that the project could yield new orders worth between 27 billion to 54 billion RMB, representing 40% to 77% of the company's projected total revenue for 2024 [9]. Financial Performance - Dongfang Electric reported a revenue of 16.3 billion RMB in Q1, with a year-on-year growth of 10%, and a net profit of 1.2 billion RMB, up 27% [10]. - Despite strong overall revenue growth, the contribution from the hydropower segment remains relatively low, with projected revenue of 2.96 billion RMB for 2024, accounting for only 4.23% of total revenue [10][11].

| 6.08亿 | 4.51亿 | 10.59亿 +1.57亿 | | --- | --- | --- | | 小米集团-W 5.07亿 | 5.00亿 | 10.07亿 +670.13万 | | 中国龙工 4.09亿 | 4.10亿 | 8.18亿 -86.81万 | | 康方生物 HK 09926 HK 01810 HK 03339 | | | 智通财经APP获悉，7月22日港股市场，北水成交净买入27.17亿港元，其中港股通(沪)成交净买入29.85 亿港元，港股通(深)成交净卖出2.67亿港元。 北水净买入最多的个股是中国人寿(02628)、建设银行(00939)、中芯国际(00981)。北水净卖出最多的个 股是国泰君安国际(01788)、腾讯(00700)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 东方电气 | 22.70亿 | 21.05 乙 | 43.74 Z | | HK 01072 | | | +1.65 亿 | | 华新水泥 | 19.01亿 | 15.88 亿 | 34.89 乙 | | ...

智通财经7月22日电，东方电气(600875.SH)发布股价异动公告称，经自查，并向公司控股股东书面核 实，确认截至目前，不存在应披露而未披露的重大事项。公司目前生产经营活动一切正常，内部经营管 理有序推进，行业政策不存在重大调整。 两连板东方电气：行业政策不存在重大调整 ...

重要内容提示： 一、股票交易异常波动的具体情况 公司 A 股股票连续三个交易日（即 2025 年 7 月 18 日、7 月 21 日、7 月 22 日）收盘价格涨幅偏离值累计达到 20%。根据《上海证券交易所交易规则》等相 关规定，属于异常波动的情形。 证券代码：600875 股票简称：东方电气 编号：2025-037 东方电气股份有限公司 关于股票交易异常波动的公告 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、准确性和完整性承担个别及连带责任。 经自查，公司未发现可能或已经对公司股票交易价格产生影响的媒体报道或 市场传闻和涉及热点概念的事项。 （四）其他股价敏感信息 经自查，公司未发现其他有可能对公司股价产生较大影响的重大事件，公司 董事、监事、高级管理人员、控股股东及其一致行动人在公司本次股票交易异常 波动期间不存在买卖公司股票的情况。 三、风险提示 公司股票价格连续三个交易日内收盘价格涨幅偏离值累计达到 20%，属于股 票交易异常波动情形。《上海证券报》《中国证券报》及上海证券交易所网站 (http://www.sse.com.cn)为本公司指定 ...

Core Viewpoint - The article discusses the commencement of the Yarlung Tsangpo River downstream hydropower project in Tibet, highlighting its significance in China's energy landscape and the expected contributions from leading domestic equipment manufacturers [3][4]. Group 1: Project Overview - The Yarlung Tsangpo River downstream hydropower project officially started on July 19, 2025, with a total investment of approximately 1.2 trillion yuan and a total installed capacity of 60 to 81 million kilowatts [3][4]. - The project will consist of five tiered power stations and is expected to generate an annual electricity output of 300 billion kilowatt-hours, equivalent to three Three Gorges power stations [4]. Group 2: Market Dynamics - The conventional hydropower equipment industry in China is characterized by a "dual oligopoly" market structure, with Dongfang Electric holding a 45% market share in conventional hydropower and 41.6% in pumped storage by 2024, while Harbin Electric accounts for 50% of the domestic large hydropower installed capacity [5]. - The project is anticipated to provide significant orders to domestic manufacturers, particularly Dongfang Electric and Harbin Electric, as the technology for hydropower equipment becomes increasingly mature [5]. Group 3: Order Growth and Financial Outlook - In 2024, Dongfang Electric achieved new effective orders of 101.14 billion yuan, a year-on-year increase of 16.88%, reaching a historical high of 152.61 billion yuan in hand orders by the end of 2024 [6]. - Harbin Electric reported a formal contract signing amount of 56.87 billion yuan in 2024, with a year-on-year growth of 30.55%, and a significant increase in new orders for various power equipment, including a 64.29% rise in hydropower equipment orders [6].

Market Overview - On July 22, A-shares saw collective gains across major indices, with the Shanghai Composite Index rising by 0.62%, the Shenzhen Component Index by 0.84%, and the ChiNext Index by 0.61%, all reaching new highs for the year [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets was 1.9286 trillion yuan, an increase of 201.5 billion yuan from the previous day [1] - Over 2,500 stocks rose, with more than 100 stocks hitting the daily limit for the second consecutive day [1] Sector Performance Hydropower Sector - The Yarlung Tsangpo River hydropower concept stocks experienced a surge, with multiple brokerages publishing reports on investment opportunities related to the Yarlung Tsangpo River downstream hydropower project [4] - The project is expected to become the world's largest hydropower station, generating approximately 300 billion kilowatt-hours annually, which will significantly boost demand for engineering machinery [4] - Key suppliers in China's hydropower equipment market include Dongfang Electric, Shanghai Electric, and Harbin Electric, with Dongfang Electric achieving a 100% localization rate for 1 million kilowatt generator sets [4] Cement Sector - The cement sector is gaining momentum due to the "anti-involution" news, with the Yarlung Tsangpo hydropower project expected to provide a new boost [5] - Major players in the Tibet cement market include Tibet Tianlu, Huaxin Cement, and Conch Cement, with Tibet Tianlu accounting for about 30% of the region's total cement production [5] Liquor Sector - The liquor sector showed active performance, despite a decline of over 10% year-to-date as of July 21 [6][7] - Fund managers have mixed strategies regarding liquor stocks, with some reducing positions while others increase their allocations [8] - Many institutions believe that the current valuation of liquor stocks presents investment opportunities, especially for leading companies with strong management and risk resilience [9] Precious Metals Sector - The precious metals sector saw gains amid fluctuating market conditions influenced by U.S. economic data and Federal Reserve speculation [10] - Despite short-term pressures, the long-term bullish trend for gold remains intact due to ongoing global uncertainties and central bank purchasing [10]

Core Insights - The article highlights the significant advancements and achievements in China's clean energy supply chain, showcasing its role in global energy transition and sustainability efforts [1][6]. Industry Overview - China's clean energy investment has reached $625 billion, accounting for one-third of global investments, with the country leading in new energy vehicle sales, solar, and wind power installations for ten consecutive years [1][2]. - Over 80% of global solar components and 70% of wind power equipment are manufactured in China, indicating the country's comprehensive clean energy industrial chain [1]. Key Developments - Major companies like China National Offshore Oil Corporation (CNOOC) and Sinopec are pivotal in stabilizing the energy supply chain, with CNOOC achieving a 92% localization rate in core equipment for deep-sea oil and gas development [2]. - Sinopec has established the world's largest green hydrogen project in Xinjiang, with an annual capacity of 20,000 tons, demonstrating advancements in flexible hydrogen production technology [2]. Technological Innovations - Innovations such as the 5 MW chemical chain combustion system by Dongfang Electric can reduce carbon capture costs by two-thirds, enhancing the economic viability of clean coal utilization [3][4]. - Sinopec's advancements in hydrogen production have led to a 30% reduction in manufacturing costs for alkaline electrolysis cells, making green hydrogen more accessible [3]. Global Collaboration - CNOOC's overseas operations span over 40 countries, establishing a robust energy network that supports energy security in the Asia-Pacific region [4][5]. - The Belt and Road Initiative has facilitated green energy project collaborations with over 100 countries, contributing to local energy shortages and promoting global energy transition [5][6]. Future Directions - The clean energy supply chain is expected to focus on enhancing hydrogen storage and transportation technologies, improving system collaboration, and expanding high-level openness to international standards [6].

Core Viewpoint - The commencement of the world's largest hydropower project, the Yarlung Tsangpo River downstream hydropower project, has significantly boosted the stock prices of power equipment companies in the Hong Kong market, reflecting a trend towards "Americanization" in the Hong Kong stock market [1][8]. Group 1: Market Reaction and Stock Performance - As of July 21, 2023, stocks of major power equipment companies surged, with Dongfang Electric (01072) rising by 65%, Northeast Electric (00042) by 40%, Harbin Electric (01133) by 28%, and Shanghai Electric (02727) by 6% [1]. - An unusual trading incident involving Dongfang Electric, where a trade was executed at 119.90 HKD per share instead of the intended 19.90 HKD, led to a dramatic market reaction, causing a fluctuation in market capitalization [1][2]. - The stock price quickly corrected to around 20.85 HKD per share, indicating a rapid market response to the initial volatility [2]. Group 2: Project Details and Investment Implications - The Yarlung Tsangpo River downstream hydropower project, located in Tibet, has a total investment of approximately 1.2 trillion RMB and is expected to have an installed capacity of about 60 million kilowatts, making it the largest planned hydropower station globally [3][4]. - The project is anticipated to create significant demand for hydropower equipment, with estimates suggesting that the total value of related orders for turbines and auxiliary equipment could range from 535 to 954 billion RMB [4][6]. - The project is expected to take at least 10 years to complete, with equipment tenders likely occurring around 2030, which could provide a new growth point for the hydropower equipment industry [4][6]. Group 3: Industry Outlook and Company Positioning - The hydropower equipment sector in China has achieved full localization, with leading companies like Dongfang Electric and Harbin Electric capturing a significant market share [6][7]. - Dongfang Electric and Harbin Electric are projected to maintain high production capacity, with expected deliveries of 15-17 GW per year from 2025 to 2027, supported by existing orders [6][7]. - The ongoing development of the Yarlung Tsangpo project is expected to provide long-term benefits to key suppliers of hydropower equipment and core components for power grid projects [4][5][8].