New Stock Offerings - Jichuan Pharmaceutical (600566) has a tender offer period from June 18, 2025, to July 17, 2025[1] - *ST Yazhen (603389) has a tender offer period from June 10, 2025, to July 9, 2025[1] - Zhongcheng Tui (300208) has 11 trading days remaining until the last trading day[1] Delisting and Trading Reminders - Tui Shi Jin Gang (600190) has 11 trading days remaining until the last trading day[1] - Hengli Tui (000622) is in the delisting arrangement period with 8 trading days remaining[1] - Tui Shi Jiu You (600462) has 7 trading days remaining until the last trading day[1] Market Volatility - Beifang Changlong (301357) reported severe abnormal fluctuations[1] - Multiple companies, including Jichuan Pharmaceutical and *ST Yazhen, are under scrutiny for trading anomalies[1]

Core Viewpoint - The Chinese electronic circuit copper foil industry is experiencing rapid development and transformation, driven by the growth of emerging industries such as 5G communication, new energy vehicles, and the Internet of Things, with a projected sales volume of 440,000 tons in 2024, representing a year-on-year increase of 7.32% [1][12]. Industry Overview - Electronic circuit copper foil is a cathodic electrolytic material used as a core conductor in printed circuit boards (PCBs), facilitating electrical connections between electronic components [2]. - The industry can be categorized into electrolytic copper foil and rolled copper foil based on production processes [2]. Industry Development History - The industry has evolved through four stages: 1. Initial stage (1950s-1970s) focused on manual production with low product variety and quality [4]. 2. Localization stage (1980s-1990s) marked by increased demand and technology imports, leading to improved production techniques [4]. 3. Rapid development stage (2000s-2010s) where China became the largest producer globally, emphasizing technological innovation [5]. 4. High-end transformation stage (2010s-present) driven by new industries, with a focus on high-performance materials like ultra-thin copper foil [6]. Industry Supply Chain - The supply chain includes raw materials such as copper and sulfuric acid, production equipment like cathode rollers and foil machines, and downstream applications in communication devices, consumer electronics, and automotive electronics [8]. Market Size - The demand for electronic circuit copper foil is on the rise, with a projected sales volume of 440,000 tons in 2024, reflecting a 7.32% increase year-on-year [12]. Key Companies' Performance - The industry features leading companies such as Jiantao Copper Foil, Nanya Copper Foil, and Copper Crown Copper Foil, with 14 companies reporting sales over 10,000 tons, and five exceeding 20,000 tons [14][16]. - Notable companies include: - Jiantao Copper Foil: Largest domestic producer with advanced technology and a complete supply chain [16]. - Nanya Copper Foil: Strong in high-end copper foil technology [16]. - Copper Crown Copper Foil: Leader in RTF copper foil production, with significant revenue growth [16][18]. Industry Development Trends 1. **Technological Upgrades and High-end Development** - The industry is focusing on high-frequency, high-speed copper foil and ultra-thin products, with domestic companies achieving significant breakthroughs [20]. 2. **Market Demand Changes and New Application Areas** - The growth of 5G communication and new energy vehicles is driving demand for electronic circuit copper foil, particularly in high-performance applications [21][22]. 3. **Industry Chain Collaboration and Global Layout** - Companies are increasingly collaborating within the supply chain and expanding globally to enhance competitiveness and market presence [23].

Market Overview - The Shanghai Composite Index rose by 0.39% on July 1, with 20 out of 28 sectors experiencing gains. The top-performing sectors were Comprehensive and Pharmaceutical & Biological, with increases of 2.60% and 1.80% respectively. Conversely, the Computer and Retail sectors saw declines of 1.18% and 0.79% [1]. Electric Equipment Industry - The Electric Equipment sector declined by 0.37%, with a net outflow of 5.163 billion yuan in main capital. Out of 358 stocks in this sector, 141 rose, 3 hit the daily limit up, while 210 fell, with 1 hitting the daily limit down [1]. - Among the stocks with net inflows, 112 saw capital inflows, with 11 stocks receiving over 50 million yuan. The top stock for net inflow was C Xintong, with 399 million yuan, followed by Weilan Lithium and Micro Light, with inflows of 218 million yuan and 132 million yuan respectively [1]. - The stocks with the highest net outflows included Rongfa Nuclear Power, Weike Technology, and Nord Shares, with outflows of 347 million yuan, 324 million yuan, and 323 million yuan respectively [1][2]. Capital Flow Rankings Inflow Rankings - C Xintong: +286.36%, turnover rate 82.61%, main capital flow 398.73 million yuan - Weilan Lithium: +5.30%, turnover rate 10.44%, main capital flow 217.95 million yuan - Micro Light: +10.01%, turnover rate 7.41%, main capital flow 131.92 million yuan [1]. Outflow Rankings - Rongfa Nuclear Power: +1.71%, turnover rate 33.83%, main capital flow -346.51 million yuan - Weike Technology: +3.55%, turnover rate 37.48%, main capital flow -324.04 million yuan - Nord Shares: -10.01%, turnover rate 23.39%, main capital flow -323.30 million yuan [2].

证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交2.89亿元，其中，买入成交额为1.41亿 元，卖出成交额为1.48亿元，合计净卖出621.60万元。 具体来看，今日上榜营业部中，第一大买入营业部为国信证券股份有限公司浙江互联网分公司，买入金 额为3657.94万元，第一大卖出营业部为长江证券股份有限公司上海福州路证券营业部，卖出金额为 3944.70万元。 近半年该股累计上榜龙虎榜10次，上榜次日股价平均涨6.23%，上榜后5日平均涨16.27%。 诺德股份(600110)今日跌停，全天换手率23.39%，成交额26.35亿元，振幅9.86%。龙虎榜数据显示，营 业部席位合计净卖出621.60万元。 上交所公开信息显示，当日该股因日跌幅偏离值达-10.40%上榜，营业部席位合计净卖出621.60万元。 卖一 长江证券股份有限公司上海福州路证券营业部 3944.70 | 卖二 | 招商证券股份有限公司上海娄山关路证券营业部 | 3535.48 | | --- | --- | --- | | 卖三 | 国泰海通证券股份有限公司上海长宁区江苏路证券营业 | 2557.95 | | | 部 | | | 卖四 ...

New Stock Issuance - The new stock "同宇新材" (code: 301630) is listed at an issuance price of 84.00[1] - "信通电子" (code: 001388) has an issuance price of 16.42[1] Rights Issues and Announcements - "济川药业" (code: 600566) has a tender offer period from June 18, 2025, to July 17, 2025[1] - "中程退" (code: 300208) has 13 trading days remaining until the last trading day[1] - "退市锦港" (code: 600190) also has 13 trading days remaining until the last trading day[1] - "恒立退" (code: 000622) has 10 trading days remaining until the last trading day[1] Abnormal Fluctuations - "浙江东日" (code: 600113) reported severe abnormal fluctuations[1] - "汇金股份" (code: 300368) is noted for abnormal fluctuations[3]

诺德股份(600110)今日下跌5.28%，全天换手率29.64%，成交额36.15亿元，振幅13.07%。龙虎榜数据显 示，营业部席位合计净卖出8071.82万元。 上交所公开信息显示，当日该股因日换手率达29.64%上榜，营业部席位合计净卖出8071.82万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交4.60亿元，其中，买入成交额为1.89亿 元，卖出成交额为2.70亿元，合计净卖出8071.82万元。 具体来看，今日上榜营业部中，第一大买入营业部为国泰海通证券股份有限公司上海松江区中山东路证 券营业部，买入金额为5427.68万元，第一大卖出营业部为中国银河证券股份有限公司大连黄河路证券 营业部，卖出金额为9900.22万元。 近半年该股累计上榜龙虎榜9次，上榜次日股价平均涨6.69%，上榜后5日平均涨21.84%。 资金流向方面，今日该股主力资金净流出5.43亿元，其中，特大单净流出4.39亿元，大单资金净流出 1.04亿元。近5日主力资金净流出1.31亿元。 融资融券数据显示，该股最新（6月26日）两融余额为4.07亿元，其中，融资余额为4.07亿元，融券余额 为13.61万元。近 ...

Group 1 - The article discusses various financial metrics and projections for different companies and sectors in China, highlighting significant figures and trends in revenue and costs [1][2][3] - It mentions the expected financial performance for the year 2024, with specific attention to projected revenues and expenses across various industries [2][3] - The data includes detailed figures such as 84,412.86 for agricultural regulations and 46,182.94 for data services, indicating the scale of operations in these sectors [1][2] Group 2 - The report outlines the anticipated changes in contract values and payment structures, with a focus on the percentage of expected payments, such as 40% for certain contracts [2][3] - It highlights the importance of compliance with regulations and the impact of these on financial performance, particularly in sectors like agriculture and technology [1][2] - The document also provides insights into the expected market conditions and operational challenges that companies may face in the upcoming fiscal year [2][3]

Core Viewpoint - Nord Shares (600110.SH) experienced a significant stock price increase of 105.13% from June 16 to June 26, which raised concerns about abnormal trading behavior and potential risks of overheating in trading [1][2]. Group 1: Stock Performance and Financials - The stock price of Nord Shares reached 7.2 yuan, with a market capitalization of 12.493 billion yuan [1]. - The company reported a revenue of 5.277 billion yuan for 2024, reflecting a year-on-year growth of 15.44%, but incurred a net loss of 352 million yuan [2]. - In the first quarter of 2025, the revenue was 1.409 billion yuan, with a net loss of 38 million yuan [2]. Group 2: Business Operations and Market Position - Nord Shares specializes in the research, production, and sales of electrolytic copper foil for lithium-ion batteries, with a minimal contribution of less than 1% of its revenue coming from solid-state battery applications [2]. - The company is developing double-sided nickel-plated copper foil, which is compatible with semi-solid and solid-state battery technologies, but the business remains in its early stages and faces intense market competition [2]. Group 3: Regulatory and Compliance Issues - The company is under investigation by the China Securities Regulatory Commission (CSRC) for potential violations related to information disclosure and undisclosed related-party transactions [3][4]. - Nord Shares has been cooperating with the CSRC during the investigation and has not yet received conclusive opinions or decisions regarding the matters under investigation [3]. - The company is currently verifying whether its actual controllers and directors have undisclosed related-party relationships with Hongtian Shares and is urging relevant parties to clarify any potential connections [5].

Market Overview - The market experienced a broad decline after a previous day of enthusiasm, leading to discussions about the differences between past market cycles, particularly the short-lived bull market of September 24 and the conditions surrounding June 24 [1][3] - The banking sector has shown resilience, achieving nine consecutive days of gains, indicating a potential localized bull market despite overall market fluctuations [1][3] Market Sentiment - The notion that a bear market has begun due to a drop in the securities sector is questioned, suggesting that market dynamics are more complex and that understanding market rhythm is crucial for profitability [3][5] - The presence of a significant number of stocks still performing well, particularly in sectors like solid-state batteries and military technology, indicates that the market is not uniformly weak [5][6] Trading Data - Today's trading data shows a buy volume of 437, while sell volume was 443, indicating a slight imbalance but not a definitive trend towards a bear market [4] - The number of stocks hitting the daily limit up was 46, while the limit down was only 12, suggesting that bullish sentiment remains in certain sectors [4][6] Sector Analysis - The RWA (Real World Assets) theme has emerged, linked to the concept of tokenization, reflecting market interest in blockchain-related assets [5][6] - The solid-state battery sector has seen significant activity, with multiple stocks reaching their daily limit up, indicating strong investor interest and potential for growth [5][6] Conclusion - Overall, while there are signs of market weakness, particularly in the securities sector, there are also strong performances in specific industries, suggesting a more nuanced market environment where localized bull trends may still exist [1][3][5]

Group 1 - Great Wall Military Industry's stock has experienced a significant price increase, with a market-to-book ratio of 8.19, higher than the industry average of 4.69 [1] - Jida Zhengyuan's shareholder plans to reduce holdings by up to 1.37 million shares, representing 0.73% of the total share capital [2] - Guosheng Financial's stock price has deviated significantly, but the company reports no major changes in its operations or environment [3] Group 2 - Yintai's stock has seen a price increase of over 20% in two consecutive trading days, with a minor revenue contribution from selling related products [4] - Nord's stock price has surged by 100% over nine trading days, indicating potential trading overheating risks [5] - Beifang Navigation's executives have reduced their holdings in accordance with previously announced plans [6] Group 3 - Ningbo Huaxiang's subsidiary has signed a contract to produce biped robots for Shanghai Zhiyuan, which may positively impact future business expansion [8] - Fuguang's major shareholder plans to reduce holdings by up to 3% of the total share capital due to personal funding needs [9] - Xiangcai's stock has shown significant price deviation, but the company confirms no undisclosed major issues [10] Group 4 - Songyang Resources is planning a potential change in control, leading to a temporary suspension of its stock [11] - Dalian Heavy Industry expects a net profit increase of 11.12%-18.92% for the first half of 2025, driven by a 6% revenue growth [12] - Fuguang's major shareholder is set to reduce holdings by up to 3% of the total share capital [13] - Huate Dain's major shareholder plans to increase holdings by 1.85%-3.70% of the total share capital, reflecting confidence in the company's future [14]