| 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600366 | 宁波韵升 | -7.24 | 18.24 | -38771.01 | | 300779 | 惠城环保 | -7.20 | 4.72 | -36052.32 | | 600111 | 北方稀土 | 0.14 | 5.40 | -27681.89 | | 002056 | 横店东磁 | -1.44 | 6.28 | -19567.39 | | 002645 | 华宏科技 | 10.04 | 27.83 | -19539.80 | | 002167 | 东方锆业 | -1.76 | 6.36 | -8821.77 | | 600010 | 包钢股份 | -1.48 | 3.36 | -7518.85 | | 601908 | 京运通 | -9.69 | 16.04 | -7407.26 | | 600206 | 有研新材 | -0.98 | 4.34 | -6779.37 | | 601609 | 金田股份 | -6.12 | 11.25 ...

谢谢慧玲秘书 各位投资者大家早上好 我是中泰有色团队的安永昌今天主要汇报基础板块的一个最新的观点因为上周的话其实整体的一个催化比较多板块的话也出现了这种涨停潮的一个情况然后周末的其实看到整体的一个热度其实也是一个非常高的一个情况 第一点先讲一下美国国防部投资MP的这个事情因为上周刚四晚上的时候MP公告了美国国防部要投资MP大概出10亿美元如果投资完成之后的话美国国防部大概支援MP大概15%的股份成为它第一大的股东所以它基本上从性质从原来完全自有的性质变成了国营的一个性质 它核心的内容其实也类似于我们国家去补贴半导体这样的一个产业链然后也是美国对MP这边做了一个比较大的补贴的力度其实整体的力度还是比较超一期的我们先回顾一下为什么美国贸易部要投资MP包括对它进行一个比较大的补贴 单对IU的市场成本大概是在2000美金就是它只做矿的时候即使稀土价格跌到像40万这种时候其实它的力量还是比较好的包括它原来的矿其实绝大多数都是通过肾核来包销到国内市场去做眼泪分离的但是从今年的情况就比较特殊了今年四月份之后然后美国对我们加对等关税之后我们做了一些反制然后这样的一个情况导致了一个结果就是它的矿没有办法进入到中国市场了所以整体 ...

Summary of Conference Call Notes Industry or Company Involved - The notes primarily discuss the overall market trends and specific sectors within the Chinese economy, including industrial metals, manufacturing, military, consumer goods, innovative pharmaceuticals, financial services, and public utilities. Core Points and Arguments 1. **Earnings Disclosure Timeline**: Companies are expected to disclose their earnings forecasts by July 15, with subsequent disclosures impacting market trading dynamics. The earnings reporting periods include annual, semi-annual, and quarterly reports, with the latter being less impactful on market trading compared to annual and semi-annual reports [1] 2. **Economic Recovery**: The current state of the domestic economy is characterized by a slow recovery in the financial chain, with overall economic growth being decent. The overall EPS for the A-share market may require more time to improve, suggesting a focus on structural economic trends [2][3] 3. **Industrial Metals Demand**: The demand for industrial metals is supported by the rapid development of sectors such as renewable energy and AI computing, leading to price increases and improved earnings for these metals [3][4] 4. **Manufacturing Sector Growth**: The manufacturing sector, particularly in wind power and exports of motorcycles and inverters, is experiencing high growth rates. The demand from emerging markets, especially Southeast Asia and South America, is driving this growth [4][5] 5. **Military Industry Outlook**: The military sector is expected to see continuous improvement in orders, supported by both domestic and international demand. This sector is highlighted for its potential earnings elasticity [6][7] 6. **Consumer Goods Performance**: The consumer goods sector, particularly in categories supported by government subsidies, has shown strong growth. Categories such as home appliances and communication equipment have experienced significant increases in sales [8] 7. **Innovative Pharmaceuticals**: The innovative pharmaceutical sector is benefiting from favorable policies and a surge in commercial opportunities. The second quarter has seen a significant increase in orders from Chinese pharmaceutical companies [9][10] 8. **Insurance Sector Dynamics**: The insurance sector is seeing improvements in both liability and asset sides, with premium income rising and investment returns being favorable. The demand for bank stocks as a stable investment is also noted [11] 9. **Investment Banking Recovery**: The investment banking sector is experiencing a recovery, with an increase in IPOs and fundraising activities. The number of IPOs reached 24, raising over 20 billion, significantly higher than the previous year [12] 10. **Emerging Technologies and Gaming**: The demand for computing power is expected to grow significantly, particularly in the AI sector, while the gaming industry continues to expand, with mobile game revenues increasing by 12% year-on-year [13][14][15] 11. **Public Utilities Focus**: Investors are advised to pay attention to the public utilities sector, particularly in electricity generation, with a focus on thermal power [15] Other Important but Possibly Overlooked Content - The notes emphasize the importance of structural economic trends and specific sectors that are likely to drive market performance in the near future. The focus on emerging markets and technological advancements indicates potential investment opportunities that may not be immediately apparent [2][4][6][9][12]

Summary of Conference Call on M&P Materials and Rare Earth Industry Company and Industry Involved - **Company**: M&P Materials, a rare earth company in the United States - **Industry**: Rare Earth Industry Key Points and Arguments 1. **Stock Price Surge**: M&P Materials' stock price increased by 40% due to the U.S. Department of Defense purchasing $400 million in preferred shares and obtaining warrants, making it the largest shareholder of M&P [1] 2. **Price Guarantee**: The U.S. Department of Defense has guaranteed that the price of M&P's mixed rare earths will not fall below $110 per kilogram, which translates to approximately 80,000 RMB per ton [1][3] 3. **Strategic Importance**: The involvement of the U.S. government in M&P signifies unprecedented attention to the rare earth supply chain, enhancing its strategic value [2] 4. **Price Comparison**: The guaranteed price from the U.S. government is over 20% higher than domestic prices in China, which are around 450,000 RMB per ton [3] 5. **Market Confidence**: The U.S. government's commitment to a price floor alleviates concerns about rising global rare earth prices negatively impacting domestic prices in China [4] 6. **U.S. Rare Earth Supply Chain**: The U.S. rare earth supply chain has been improving, with NOP's self-processing ratio increasing from under 10% in Q1 2023 to over 30% in Q1 2024 [6] 7. **Supply Dynamics**: The U.S. hydrogen industry is reportedly on the rise, indicating a strengthening of the U.S. rare earth supply chain, which was already in progress before government intervention [7] 8. **Resource Control**: China maintains a dominant position in rare earth resources, with significant control over supply from Southeast Asia and other regions [8][9] 9. **Export Controls**: China's export controls on rare earths are primarily focused on heavy rare earth products, which will not significantly impact China's pricing power [10] 10. **Market Trends**: The rare earth sector is experiencing a shift in trading logic, with expectations of price increases due to supply constraints and rising demand [11][12] 11. **Future Projections**: The overall supply growth in the rare earth sector is expected to be low, with a projected decline in supply in the second half of the year, which could lead to price increases [15][17] 12. **Investment Opportunities**: Key companies to watch include China Rare Earth Holdings, Guangsheng Nonferrous, and Northern Rare Earth, all of which are expected to benefit from rising prices and market dynamics [18][19][20] Other Important but Overlooked Content - **Market Sentiment**: The sentiment around the rare earth sector remains positive, with expectations of price increases driven by both domestic and international factors [21] - **Long-term Outlook**: The long-term outlook for the rare earth industry remains strong, with structural reforms and price adjustments expected to support growth [20]

截至2025年7月16日 10:54，中证稀土产业指数下跌0.46%。成分股方面涨跌互现，华宏科技领涨 7.19%，盛和资源上涨4.18%，奔朗新材上涨3.83%；京运通领跌，三川智慧、宁波韵升跟跌。稀土ETF 嘉实(516150)下修调整。拉长时间看，截至2025年7月15日，稀土ETF嘉实近1周累计上涨6.05%。 流动性方面，稀土ETF嘉实盘中换手3.58%，成交9933.64万元。拉长时间看，截至7月15日，稀土ETF嘉 实近1周日均成交2.79亿元，居可比基金第一。 规模方面，稀土ETF嘉实最新规模达27.64亿元，创近1年新高，位居可比基金第一。份额方面，稀土 ETF嘉实最新份额达21.93亿份，创近1年新高，位居可比基金第一。资金流入方面，稀土ETF嘉实最新 资金净流入1.55亿元。 中信建投证券近期研报观点指出，稀土海外高价将传导至国内市场，叠加金九银十消费旺季原料采购前 置，下游补库预期下，稀土价格易涨难跌。参考过往出口管制金属走势，海外高价往往带动国内价格上 涨，企业利润增厚，板块有望迎来估值+利润双击。 数据显示，杠杆资金持续布局中。稀土ETF嘉实连续4天获杠杆资金净买入，最高单日获得1 ...

丨证券研究报告丨 行业研究丨专题报告丨金属、非金属与采矿 [Table_Title] 稀土磁材：战略定位日益强化，价值重估催生动 能 报告要点 [Table_Summary] 随着全球新能源、半导体、军工等战略性产业的竞争加剧，关键战略矿产资源作为国家之间博 弈的核心筹码，重要性与日俱增。稀土作为我国核心战略金属代表品种，在全球贸易冲突不断 背景下，有望成为我国贸易反制的重要筹码，战略属性凸显。当前时点，在商品已至历史底部 背景下，供给压力缓解叠加战略金属定位催化，稀土板块有望迎来价值重估。 分析师及联系人 [Table_Author] 王鹤涛 王筱茜 许红远 肖百桓 周相君 SAC：S0490512070002 SAC：S0490519080004 SAC：S0490520080021 SAC：S0490522080001 SFC：BQT626 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 金属、非金属与采矿 cjzqdt11111 [Table_Title 稀土磁材：战略定位日益强化，价值重估催生动 2] 能 [Table_Summary2] 当前时点，稀 ...

中国神华净利润额位居榜首 南方精工成为半年报"预增王" 从预告净利润变动幅度上限来看，869家上市公司预计上半年净利润同比增长，占比56.98%。其中， 428家公司预计上半年净利润同比增长100%以上，118家公司预计上半年净利润同比增长300%以上，62 家公司预计上半年净利润同比增长500%以上，40家公司预计上半年净利润同比增长800%以上，33家公 司预计上半年净利润同比增长1000%以上，14家公司预计上半年净利润同比增长2000%以上，4家公司 预计上半年净利润同比增长3000%以上。南方精工以35784%增幅成为半年报"预增王"，华银电力以 4423%增幅位居第二，三和管桩以3889%增幅位居第三。 7月15日，A股中报业绩预告披露收官。据同花顺数据统计，截至7月15日，A股共有1525家上市公司披 露了2025年中报业绩预告，其中预喜公司662家（预增414家、续盈6家、扭亏189家、略增53家），占比 43.41%；预忧公司857家（预减198家、续亏429家、首亏214家、略减16家），占比56.19%；不确定公 司6家，占比0.40%。从行业分布来看，生物医药、基础化工、人工智能、半导 ...

| 广晟有色 | 7000万元-8500万元 | 扭亏为盈 | 下 | | --- | --- | --- | --- | | 中科三环 | 3500万元-5200万元 | 扭亏为盈 | | 10家稀土永磁行业上市公司披露中报业绩预告 华宏科技预计上半年净利同比最高增近40倍 智通财经7月15日电，据Choice数据统计，截至发稿，包括华宏科技、北方稀土、宁波韵升、有研新材、金力永磁、横店东磁、盛和资源、中国稀土、广晟 有色、中科三环在内的10家稀土永磁行业上市公司披露上半年业绩预告。其中，华宏科技预计上半年净利同比增长3047%-3722%，北方稀土预计上半年净利 同比增长1883%-2015%。环比表现方面，中科三环预计Q2净利环比增长59%-185%，宁波韵升预计Q2净利环比增长42%-163%。小财注：华宏科技昨日盘后 发布业绩预告，今日收盘录得3连板。 | | | 10家稀土永磁行业上市公 | | --- | --- | --- | | 证券简称 | 预计归母净利润 | 同比变动 | | 华宏科技 | 7000万元-8500万元 | 3047%-3722% | | 北方稀土 | 9亿元-9.6亿元 ...

随着2025年上半年收官，A股上市公司中报季大幕正式拉开，作为资本市场的"期中考试"，各行业业绩 成色备受瞩目。其中，有色金属板块无疑是上半年最亮眼的"考生"之一。Wind数据显示，按申万行业 分类，该板块上半年累计涨幅高达18.12%，成为引领市场情绪的重要力量。 如今，随着中报预告陆续披露，这一板块的业绩表现与股价走势形成的共振效应，正持续吸引市场目 光。截至7月14日收盘，已有61家有色金属上市公司率先发布中报预告，其中42家业绩预喜，显著高于 A股整体水平。从具体数据看，北方稀土以1882.54%至2014.71%的净利润同比增幅领跑。 业绩预增原因，主要是报告期矿产金、矿产铜、矿产锌、矿产银销售价格同比上升。此前的2022年至 2024年，紫金矿业的归母净利润分别为200.42亿元、211.19亿元和320.51亿元。值得一提的是，今年5 月，紫金矿业发布公告称，拟将控股子公司紫金黄金国际分拆至香港联交所主板上市。本次分拆完成 后，紫金黄金国际将进一步深耕境外市场业务，持续推进全球黄金资源开发。 27家公司预计净利润翻倍 多家有色金属公司中报预喜 随着2025年上半年结束，A股上市公司也迎来"期中考 ...

Core Viewpoint - The launch of hydrogen fuel electric two-wheelers by Northern Rare Earth Hydrogen Storage Company marks a significant advancement in zero-carbon transportation, with a 1.5 times increase in range compared to traditional electric vehicles [1][3]. Group 1: Product Features - The hydrogen fuel electric two-wheeler features a solid-state hydrogen storage bottle developed by Northern Rare Earth, capable of storing 80 to 90 grams of hydrogen, ensuring a range of over 90 kilometers [3][4]. - The vehicle operates on hydrogen fuel cells, producing only water as a byproduct, thus achieving complete zero-carbon emissions and being environmentally friendly [3][4]. - The two-wheeler exhibits strong low-temperature performance, outperforming traditional lithium batteries in cold environments, allowing for reliable operation even in harsh weather [3][4]. Group 2: Industry Development - Solid-state hydrogen storage is a key technology in the hydrogen energy industry and is a national development focus [4]. - Northern Rare Earth is accelerating its transformation towards high-end products, successfully developing solid-state hydrogen alloy products with high absorption capacity and efficient thermal management [4]. - The company has adopted a dual approach of independent and collaborative development to overcome challenges in the hydrogen storage device's engineering applications, significantly enhancing the vehicle's range from less than 10 kilometers to over 90 kilometers [4]. Group 3: Market Deployment - The first batch of 20 hydrogen fuel electric two-wheelers has been deployed at the Northern Rare Earth smelting subsidiary to address the "last mile" commuting issue for employees [6]. - An additional 30 vehicles are set for trial operation within Baogang Group by the end of July, with plans to expand deployment in Baotou and other cities, aiming to establish a unique "Rare Earth + Hydrogen Energy" brand in Inner Mongolia [6]. - Northern Rare Earth continues to deepen its engagement in the hydrogen energy sector, focusing on cultivating a hydrogen energy industry ecosystem and promoting pilot demonstrations to enhance the "North Rare Hydrogen Energy" brand [6].