中信建投研报称，回顾2023年AI驱动游戏整体到30x，今年其实是更落地的EPS上修+景气度高+格局改 善驱动的，龙头和中型公司今年是一起好，大盘在扩张（1H国内自研网络游戏+20%，主要是arppu提升 带来）。而且，中报后估值切换到明年，游戏持续性很好。业绩节奏，三季度会是更好的一个季度（暑 期流水爆发），后续还有《无畏契约m》，《名将杀》，《九牧之野》，《伊瑟》国服，《异环》。今 年游戏板块费用节省多，利润上修有空间，taptap与小红书等新型内容社区崛起，CP对ROI考核严格， 传统买量式微，AI对中型公司产能提升大。 ...

美的置业 （派息日） 中国银河 （派息日） 中信建投证券 （派息日） 中国人寿 （派息日） 智通财经APP获悉，2025年8月21日，港股上市公司投资日志如下： | 类别 | 公司 | | --- | --- | | | 佳鑫国际资源 | | | (招股中) | | 新股活动 | 双登股份 | | | (招股中) | | | 康龙化成 | | | 速腾聚创 | | | 景联集团 | | | 滨江服务 | | | 移卡 | | 业绩公布日 | 腾盛博药-B | | | 春泉产业信托 | | | 金朝阳集团 | | | 载通 | | | 中国石油化工股份 | | | 金源发展国际实业 | | | 润利海事 | | | 新火科技控股 | | | 伟俊集团控股 | | | 中信银行 | | 股东大会召开日 | 悟喜生活 | | | 中国旺旺 | | | 文化传信 | | | 京能清洁能源 | | | GC CONSTRUCTION | | 分红派息 | 汇贤产业信托 | | | （除净日） | | | 卡宾 | | | （除净日） | | | 宝燵控股 | | | （除净日） | | | 太平洋航运 | | | （除 ...

Group 1 - The core viewpoint of the article is that SanDe Technology (SZ 300515) announced an investor research meeting on August 19, 2025, where the company's Vice General Manager and Board Secretary, Tang Fangdong, addressed investor inquiries [2] - For the year 2024, SanDe Technology's revenue composition is entirely from the instrumentation and meter industry, accounting for 100.0% [2]

Group 1 - The overall number of vaccine batch approvals in the first half of 2025 is 1,629, representing a year-on-year decrease of 17% [1] - Certain vaccines, such as rabies and HPV vaccines, have seen significant growth in batch approvals, while others like polio, meningitis, and measles-mumps-rubella vaccines have experienced substantial declines [1] - Several key vaccines have received approval for market launch in the first half of the year, including CanSino's PCV13 and Wantai's 9-valent HPV vaccine [1] Group 2 - Multiple products are currently in the review stage for market approval, including Zhifei's PCV15 and MCV4, as well as Kangtai's IPV and quadrivalent influenza vaccines [1] - It is anticipated that sales of certain products in the second half of 2025 may improve year-on-year, driven by new product launches contributing to revenue growth [1] - The ongoing development of innovative vaccine pipelines and expectations for external licensing are areas of interest, along with the implications of recent equity changes in some companies and the potential impact of new shareholders [1]

中信建投指出，2025年1-6月，血制品行业中白蛋白、静丙批签发保持稳健，其中国产白蛋白签发批次 占比同比有所提升。VIII因子、纤原等因子类产品批签发增速较快，反映了企业对因子类产品管线的持 续拓展。研发管线方面，企业针对重组产品和新型免疫球蛋白（包括层析静丙、皮下注射免疫球蛋白） 的研发持续推进，已有多款产品获批或处于上市审评阶段。下半年随着产品价格逐步稳定，叠加企业采 浆量增长及新产品带来的业绩增量，血制品行业预计整体保持稳健增长。建议关注处于行业头部，未来 有望通过内生增长+外延整合持续拓展浆站资源，血制品业务持续增长的企业。 （文章来源：第一财经） ...

Group 1 - The recent market has shown a strong performance, with public funds demonstrating significant profit-making ability and excess returns, particularly in themes like Hong Kong securities, innovative pharmaceuticals, and new consumption [1][2] - As of August 18, over 130 funds have achieved returns exceeding 100% in the past year, with three North Exchange theme funds reporting returns over 200% [1][2] - Notably, the top-performing North Exchange funds include those managed by Citic Securities and Huaxia, with returns of 249.27% and 225.42% respectively [1][2] Group 2 - Active management equity funds in the North Exchange have shown significant excess returns compared to their benchmarks, with one fund reporting a return of 190.48% against a benchmark return of 28.64% [2] - Hong Kong-related funds, especially in the securities and innovative pharmaceuticals sectors, have also performed well, with the E Fund Hong Kong Securities Investment Theme ETF achieving a return of 176% [2][3] - The performance of the E Fund ETF has been bolstered by a surge in trading volume, reaching nearly 120 billion yuan in a week, marking a record high since its launch [2] Group 3 - Several technology-themed funds have also reported impressive returns, such as the Yongying Advanced Manufacturing Fund, which focuses on humanoid robots and has a return of 172.28% [3] - The China Europe Digital Economy Fund, which targets artificial intelligence sectors, has achieved a return of 174.11% [3] - The growth of new consumption stocks has significantly contributed to the performance of funds like the GF Growth Navigator, which has a return of 162.55% [4]

香港联交所最新资料显示，8月13日，易方达基金管理有限公司增持中信建投证券(06066)23.35万股，每 股作价13.7港元，总金额约为319.9万港元。增持后最新持股数目为8828.05万股，最新持股比例为7%。 ...

中信建投研报表示，当前硬件端泛人形机器人已经达到物流场景商业化的门槛，但国产具身模型端距离 真正落地仍有一定提升空间。从分拣效率来看，1）海外：Figure 02效率已接近正常工人。基于Helix神 经网络，Figure 02处理一件包裹的平均时间为4.05 秒。而正常熟练分拣工人的单个标准小件快递分拣效 率为3-5秒。2）国内：智元精灵G1分拣速度较熟练工人仍有一定距离。此外，我们也需要注意，在分 拣质量和应对异常的处理上，泛人形机器人较熟练工人仍有差距。经济性方面，现阶段分拣场景泛人形 机器人替代工人处于临界点。展望后续，我们认为今年下半年泛人形机器人在物流场景会逐步从demo 场景转向交付客户试用，等客户验证后明年有望迎来爆发增长，海外由于人工成本更高昂，将会是物流 场景落地的首选。 ...

中信建投证券股份有限公司 关于安徽芯动联科微系统股份有限公司 使用自有资金支付募投项目所需资金并以募集资金等额置换的 核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"、"保荐人"）为 安徽芯动联科微系统股份有限公司（以下简称"芯动联科"、"公司"）首次 公开发行股票并在科创板上市的保荐人及持续督导机构，根据《证券发行上市保 荐业务管理办法》《上市公司募集资金监管规则》《上海证券交易所科创板股票 上市规则》《上海证券交易所科创板上市公司自律监管指引第1号——规范运作》 等法规的有关规定，对芯动联科使用自有资金支付募投项目所需资金并以募集资金 等额置换事项进行了审慎核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会出具的《关于同意安徽芯动联科微系统股份有 限公司首次公开发行股票注册的批复》（证监许可[2023]1012号）同意，安徽 芯动联科微系统股份有限公司（以下简称"公司"）首次向社会公开发行人民 币普通股（A股）5,521万股。公司每股发行价格26.74元，新股发行募集资金总 额为147,631.54万元，扣除发行费用12,195.64万元后，募集资金净额135,435.90 ...

中信建投期货表示，总体来看，内外宏观预期落地或下修，加速市场情绪回归理性，加之终端需求偏 弱，预计短期铜价承压整理为主。今日沪铜主力运行区间参考 78500-79600 元/吨。策略上，观望或区 间操作。 ...