金融界8月4日消息，上证指数低开高走，AMAC有色金属指数 (AMAC有色，H30059)上涨0.81%，报 3387.8点，成交额365.11亿元。 数据统计显示，AMAC有色金属指数近一个月上涨8.81%，近三个月上涨21.63%，年至今上涨21.46%。 据了解，中基协基金估值行业分类指数依据《中国上市公司协会上市公司行业统计分类指引》中的门类 划分，编制16个门类指数（不包括制造业）；依据制造业门类下的大类划分，编制27个大类指数，共有 43条行业分类指数。该指数以2009年01月01日为基日，以1000.0点为基点。 从指数持仓来看，AMAC有色金属指数十大权重分别为：北方稀土（8.77%）、中国铝业（5.63%）、 华友钴业（5.56%）、赣锋锂业（3.87%）、天齐锂业（3.76%）、云铝股份（3.13%）、中国稀土 （2.92%）、盛和资源（2.81%）、神火股份（2.68%）、南山铝业（2.63%）。 从AMAC有色金属指数持仓的市场板块来看，深圳证券交易所占比52.51%、上海证券交易所占比 47.49%。 从AMAC有色金属指数持仓样本的行业来看，原材料占比96.48%、工业占比2.09 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截 | 至 | 份 | 月 | 態 | 年 | 狀 | 新 | 提 | 交 | 月 | 日 | 2 | 0 | 2 | 3 | 1 | 5 | 7 | : | : | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 致 | 港 | 交 | 算 | 有 | 香 | 易 | 及 | 結 | 所 | 限 | 公 | 司 | ： | | | | | | | | | | | | | | | | | | | | 公 | 司 | 名 | 稱 | 齊 | 業 | 天 | 鋰 | 份 | 有 | 限 | 公 | 股 | 司 | : | | | | | | | | ...

行业报告 | 行业深度研究 有色金属 证券研究报告 2025年08月02日 有色金属行业首席联盟培训框架 作者： 分析师 刘奕町 SAC执业证书编号：S1110523050001 请务必阅读正文之后的信息披露和免责申明 1 行业评级： 上次评级： 强于大市 强于大市 首次 （ 评级） 摘要 1. 基本金属：供需矛盾的出现与再平衡，衰退与复苏周期的再博弈 基本金属大量参与制造业，工业属性强，需求与总量经济相关性较强，供给与资源禀赋、产业政策强相关，库存包含国内外交易所等显性库存与社会隐性库存。铜以海 外定价为主，矿端为主要产量瓶颈，增量受限于前期资本开支，同时具备金融属性；铝的冶炼端为供应瓶颈，吨铝盈利决定运行产能。 2. 贵金属：央行购金+风险偏好回摆，金价有望上行 传统分析框架下，黄金是具备双重属性的特殊金属品类，自身由美元计价，同时在信用货币时代，黄金仍然扮演价值锚定角色。可以用实际利率表征黄金的金融属性， 但近年来，黄金与美债收益率一反其长期负相关的熟悉框架，走出趋同的走势。地缘政治环境变化背景下，多国开始加大力度增加黄金、特别提款权等储备资产，央行 购金为黄金需求主要增量。年内多种利好因子持续深化，金 ...

Group 1 - Lithium stocks continue to decline, with Tianqi Lithium down 4.25% at HKD 34.9 and Ganfeng Lithium down 4.21% at HKD 26.15 [1] - On July 31, lithium carbonate futures main contract fell over 6%, currently reported at CNY 68,300 per ton [1] - Southwest Futures indicates that the supply-demand balance in the lithium carbonate market remains unchanged, with supply still robust despite some major manufacturers undergoing maintenance [1] Group 2 - Although there has been a slight decrease in supply this week due to maintenance, overall supply levels remain high [1] - Recent improvements in downstream consumption are noted, with July production increasing primarily due to energy storage demand [1] - However, there is a strong reluctance to purchase at high prices in the downstream market, coupled with ample inventory leading to a cautious trading atmosphere [1]

Group 1 - Lithium stocks continue to decline, with Tianqi Lithium (002466)(09696) down 4.25% at HKD 34.9 and Ganfeng Lithium (002460)(01772) down 4.21% at HKD 26.15 [1] - On July 31, lithium carbonate futures main contract fell over 6%, currently reported at CNY 68,300 per ton [1] - Southwest Futures indicates that the supply-demand structure of the lithium carbonate market remains unchanged, with supply from the resource side still strong [1] Group 2 - Although some major manufacturers have halted production for maintenance, the overall supply remains high, and recent consumption has shown improvement due to increased production in July, primarily supported by energy storage demand [1] - However, downstream purchasing sentiment is cautious due to high prices, coupled with ample inventory leading to a strong wait-and-see attitude, resulting in relatively quiet trading [1] - The fundamental oversupply situation has not been reversed, although there remains significant uncertainty regarding supply from the mining sector [1]

Group 1 - The main focus of the article is on the significant outflow of capital from major stocks as of July 31, with specific amounts listed for each company [1] - The top three companies with the highest capital outflow are Baogang Co., Ltd. (-1.32 billion), Changjiang Electric Power (-0.92 billion), and Northern Rare Earth (-0.86 billion) [1] - Other notable companies experiencing capital outflow include Ningde Times (-0.84 billion), Guizhou Moutai (-0.70 billion), and BYD (-0.57 billion) [1] Group 2 - The total capital outflow from the listed companies indicates a trend of investors pulling back from these stocks [1] - The data reflects a broader market sentiment that may impact future investment strategies in these sectors [1]

Group 1 - Lithium stocks experienced significant declines, with Tianqi Lithium down 3.82% to 36.5 HKD and Ganfeng Lithium down 3.36% to 27.35 HKD [1] - The main contract for lithium carbonate, LC2509, saw a substantial reduction in positions, with a drop of 6% [1] - According to CITIC Futures, the weekly production from SMM showed a slight decline, primarily due to reduced output from salt lake sources, while the impact of maintenance on actual supply was limited [1] Group 2 - The overall inventory trend remains upward, but strong price increases are causing inventory to shift from upstream to intermediate stages [2] - Despite production cuts in Jiangxi and Qinghai, domestic output continues to rise, while July saw a year-on-year decline in retail and wholesale sales of new energy vehicles, with only the energy storage market showing growth [2] - The anticipated "anti-involution" policy in the bulk commodity market has made compliance risks regarding mining licenses in Jiangxi a focal point in the lithium carbonate market [2]

Group 1: Market Overview - The Hang Seng Index fell by 1.11%, down 284 points, closing at 25,383 points, while the Hang Seng Tech Index dropped by 1.69% [1] - The early trading volume in Hong Kong stocks reached 151 billion HKD [1] Group 2: Medical Sector - Medical device stocks rose in early trading, with the national drug procurement policy indicating a move away from internal competition, leading institutions to view this as a turning point for the industry [1] - Aikang Medical (01789) increased by 7.93%, and Weigao Group (01066) rose by 4.37% [1] - Yongsheng Medical (01612) saw a surge of over 27% following a profit warning, with sales orders increasing and expected mid-term net profit growth exceeding 50% year-on-year [2] - CRO concept stocks continued to rise, with Citigroup noting that the CXO sector is gaining market attention ahead of earnings season [2] - Kanglong Chemical (300759) (03759) rose by 8.4%, while Zhaoyan New Drug (603127) (06127) increased by 5.7%, and WuXi Biologics (02269) rose by 4.5% [2] Group 3: Consumer Sector - Nongfu Spring (09633) increased by over 3.56%, reaching a three-and-a-half-year high, with institutions expecting the company's first-half revenue growth to exceed market expectations [3] Group 4: Other Notable Stocks - Jihong Co., Ltd. (002803) (02603) rose by 16%, with two main business segments performing well, and expected first-half net profit growth of up to 65% [4] - China Merchants Port (01199) increased by over 4%, following reports that China Merchants Group plans to acquire assets from Cheung Kong Ports [5] - Guichuang Tongqiao (02190) rose by 2.6%, with expected mid-term net profit growth of 66.9%, as the company embraces procurement and actively expands overseas [6] Group 5: Lithium and Duty-Free Sector - News of supply disruptions in the lithium market led to Tianqi Lithium (002466) (09696) rising by 3.6% [7] - China Duty Free Group (601888) (01880) fell by over 6%, with pending details on Hainan's duty-free policies, and institutions noting that the closure operations have a dual impact on offshore duty-free business [7] Group 6: Technology Sector - Qianxun Technology (01640) fell by over 3%, having retreated 23% from its previous high, with recent comments from Yu Weiwen emphasizing the need to avoid excessive speculation on stablecoins [8]

作者 | 哥吉拉 数据支持 | 勾股大数 据（www.gogudata.com） 今天 A股震荡反弹，沪指涨0.65%报3605.73点，三年半以来首次收于3600点上方 。 助力 A股站上3600的题材真不少， 近期在"反内卷"主旋律催化下， 很多期货品种开始了大幅反弹，情绪面蔓延到 了股票市场。 今天又轮到了碳酸锂。 国内碳酸锂期货主力合约今天涨势强劲，盘中一度触及涨停（ 8%），关联个股如赣锋锂 业、天齐锂业相继涨停，港股涨幅也一度超过15%。 发生了什么？ 涨停！ 01 板块方面，钢铁、地产、券商、多元金融等板块涨幅居前，锂矿、小金属、水利水电等概念股跟 ，盘面热点杂乱， 海南自贸区、免税店、雅下水电概念涨幅居前。 | Wind中国行业指数 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 林木 | 机场 | 基本金属 | 生物科技 | 券商 | 餐饮旅游 | 3.07% | 2.59% | 2.39% | 4.18% | 3.26% | 2.50% | ...

Core Viewpoint - The China Securities New Energy Vehicle Index (CS New Energy Vehicle, 399976) has shown significant growth, with a 2.67% increase on July 24, 2023, and a year-to-date rise of 9.56% [1] Group 1: Index Performance - The CS New Energy Vehicle Index has increased by 8.88% over the past month and 9.74% over the last three months [1] - The index was established on December 31, 2011, with a base value of 1000.0 points [1] Group 2: Index Holdings - The top ten weighted companies in the CS New Energy Vehicle Index are: CATL (10.42%), Huichuan Technology (9.24%), BYD (8.84%), Changan Automobile (4.72%), Sanhua Intelligent Control (4.61%), Huayou Cobalt (4.39%), Yiwei Lithium Energy (4.32%), Ganfeng Lithium (3.3%), Tianqi Lithium (3.09%), and Gree Environmental (2.56%) [1] - The market distribution of the index holdings shows that 84.21% are listed on the Shenzhen Stock Exchange, 15.21% on the Shanghai Stock Exchange, and 0.58% on the Beijing Stock Exchange [1] Group 3: Industry Composition - The industry composition of the index holdings includes: 58.48% in industrials, 22.92% in consumer discretionary, 17.46% in materials, and 1.14% in information technology [2] - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2]