Group 1 - The company will hold a half-year performance briefing on October 17, 2025, from 15:00 to 16:00 [2][4] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an online interactive format [3][4] - Investors can submit questions for the briefing from October 10 to October 16, 2025, through the designated website [2][4] Group 2 - The briefing aims to provide a comprehensive understanding of the company's operating results and financial status for the first half of 2025 [2][3] - The company will address common investor concerns during the session [3][5] - Contact information for inquiries includes representatives Hu Bo and Li Yu, with a provided phone number and email [5]

Core Insights - The electricity sector experienced a rise of 0.71% on the previous trading day, with Lianmei Holdings leading the gains [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Stock Performance - Lianmei Holdings (600167) closed at 9.35, up 10.00% with a trading volume of 889,900 shares and a transaction value of 808 million [1] - Shanghai Electric (600021) closed at 25.12, up 7.90% with a trading volume of 1,973,300 shares [1] - Huayin Power (600744) closed at 6.82, up 6.40% with a trading volume of 1,951,200 shares [1] - Other notable performers include Waneng Power (000543) up 5.09% and Guiguan Power (600236) up 4.77% [1] Capital Flow - The electricity sector saw a net outflow of 773 million from institutional investors and 445 million from retail investors, while retail investors had a net inflow of 1.218 billion [2][3] - Major stocks like Changjiang Electric (600900) and Lianmei Holdings (600167) experienced significant capital movements, with Lianmei Holdings seeing a net inflow of 1.33 billion from institutional investors [3]

证券代码：600167 证券简称：联美控股 公告编号：2025-042 联美量子股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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法律责任。 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 10 日(星期五) 至 10 月 16 日(星期 四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目进 行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 重要内容提示： https://roadshow.sseinfo.com/） 联美量子股份有限公司（以下简称"公司"）已于 2024 年 8 月 30 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地 了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 17 日 下午 15:00-16:00 举行 2025 年半年度业绩说明会，就投 资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络文字互动形式召开，公司将针对 2025 年半年度的经营 ...

Core Viewpoint - Lianmei Holdings (600167) experienced a significant drop in stock price, reaching the daily limit down of 10.47%, with a trading volume of 8.24 billion yuan and a turnover rate of 3.90% [2] Trading Activity - The stock saw a net sell-off of 1,992.05 thousand yuan from the Shanghai-Hong Kong Stock Connect, with total net selling from brokerage seats amounting to 348.47 thousand yuan [2] - The top five brokerage seats accounted for a total transaction volume of 1.51 billion yuan, with buying amounting to 639.13 million yuan and selling at 873.18 million yuan, resulting in a net sell of 234.05 million yuan [2] - The largest buying and selling brokerage was the Shanghai-Hong Kong Stock Connect, with buying at 21.70 million yuan and selling at 41.62 million yuan, leading to a net sell of 1,992.05 thousand yuan [2] Capital Flow - The stock experienced a net outflow of 57.98 million yuan in principal funds, with large orders contributing to a net outflow of 44.12 million yuan and big orders at 13.86 million yuan [2] - Over the past five days, the total net outflow of principal funds reached 312 million yuan [2] Margin Trading Data - As of September 29, the margin trading balance for the stock was 768 million yuan, with a financing balance of 767 million yuan and a securities lending balance of 992.90 thousand yuan [2] - In the last five days, the financing balance increased by 50.09 million yuan, reflecting a growth rate of 6.99%, while the securities lending balance rose by 2.18 million yuan, marking an increase of 28.13% [2] Financial Performance - In the first half of the year, the company reported total revenue of 1.898 billion yuan, a year-on-year decrease of 2.65%, while net profit reached 525 million yuan, representing a year-on-year increase of 9.87% [3]

Market Overview - The electricity sector experienced a decline of 0.19% on the trading day, with Lianmei Holdings leading the drop [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Stock Performance - Notable gainers in the electricity sector included: - Hengtong Co., Ltd. (600226) with a closing price of 4.70, up 7.55% [1] - Shanghai Electric (600021) at 21.16, up 7.52% [1] - ST Yinda (300125) at 8.88, up 6.35% [1] - Lianmei Holdings (600167) was the biggest loser, closing at 9.05, down 9.95% [2] Trading Volume and Value - Hengtong Co., Ltd. had a trading volume of 1.477 million shares and a transaction value of 681 million yuan [1] - Shanghai Electric recorded a trading volume of 1.747 million shares with a transaction value of 359.5 million yuan [1] - Lianmei Holdings had a trading volume of 882,100 shares and a transaction value of 824 million yuan [2] Capital Flow - The electricity sector saw a net outflow of 984 million yuan from institutional investors, while retail investors contributed a net inflow of 735 million yuan [2] - The capital flow for key stocks showed: - Shanghai Electric had a net inflow of 395 million yuan from institutional investors [3] - ST Yinda experienced a net inflow of 19.5 million yuan from institutional investors [3]

Content: --------- <doc id='1'>大额买入与资金流向跟踪（20250922-20250926） [Table_Authors] 郑雅斌(分析师) 本报告导读： 参考团队前期发布的专题报告选股因子系列研究（五十六、五十七），本报告旨在通 过交易明细数据构建相关指标，跟踪大额买入和净主动买入。</doc> <doc id='2'>投资要点：</doc> <doc id='3'>| | 021-23219395 | | --- | --- | | | zhengyabin@gtht.com | | 登记编号 | S0880525040105 | | | 张耿宇(分析师) | | | 021-23183109 | | | zhanggengyu@gtht.com | | 登记编号 | S0880525040078 |</doc> <doc id='4'>[Table_Report] 相关报告 量化择时和拥挤度预警周报（20250928） 2025.09.28 高频选股因子周报（20250922-20250926） 2025.09.28 低频选股因子周报（2025.09.19-2025.09.26） 2025.09.27 国内权益资产震荡，资产配置策略整体回调 2025.09.26 绝对收益产品及策略周报（250915-250919） 2025.09.24 金 融 工 程 金 融 工 程 周 报 金融工程 /[Table_Date] 2025.09.30 [Table_Summary] 个股大额买入跟踪与净主动买入跟踪。近 5 个交易日大额买入排名 前 5 的个股为：华泰股份、美凯龙、联美控股、启迪环境、酒钢宏 兴；近 5 个交易日净主动买入排名前 5 的个股为：鄂尔多斯、中信 特钢、桂冠电力、南钢股份、京泉华。（本周报中，近 5 个交易日特 指 20250922 至 20250926。） 行业大额买入与净主动买入跟踪。近 5 个交易日大额买入排名前 5 的中信一级行业为：银行、石油石化、非银行金融、钢铁、房地产； 近 5 个交易日净主动买入排名前 5 的中信一级行业为：银行、石油 石化、农林牧渔、房地产、电力及公用事业。 ETF 大额买入跟踪与 ETF 净主动买入跟踪。近 5 个交易日大额买 入排名前 5 的 ETF 为：嘉实中证 500ETF、南方标普中国 A 股大盘 红利低波 50ETF、易方达中证红利 ETF、嘉实中证稀土产业 ETF、 易方达沪深 300ETF；近 5 个交易日净主动买入排名前 5 的 ETF 为： 富国创业板 ETF、嘉实中证新能源 ETF、华夏中证内地低碳经济主 题 ETF、广发创业板 ETF、鹏华中证国防 ETF。 风险提示。因子失效风险，模型误设风险，市场系统性风险。</doc> <doc id='6'>| 1. | 跟踪指标计算说明 3 | | --- | --- | | 2. | 个股大额买入与资金流向跟踪 3 | | 3. | 宽基指数大额买入与资金流向跟踪 3 | | 4. | 行业大额买入与资金流向跟踪 4 | | 5. | ETF 大额买入与资金流向跟踪 5 | | 6. | 风险提示 5 |</doc> <doc id='7'>1. 跟踪指标计算说明 本文使用大买单成交金额占比和净主动买入金额占比，跟踪个股、宽 基指数、行业和 ETF 的大额买入与资金流向。 大买单成交金额占比刻画了大资金的买入行为。根据逐笔成交数据中 的叫买和叫卖序号，可将逐笔成交数据还原为买卖单数据，并按照每单的 成交量筛选得到大单，计算其中大买单的成交金额占当日总成交金额的比 例。 净主动买入金额占比刻画了投资者的主动买入行为。根据逐笔成交数 据中的买卖标志，可界定每笔成交属于主动买入还是主动卖出。将两者的 成交金额相减，可得净主动买入金额，并计算占当日总成交金额的比例。</doc> <doc id='8'>2. 个股大额买入与资金流向跟踪 下表为全市场大买单成交金额占比过去 5 日均值排名前 10 的股票。</doc> <doc id='9'>| | 表 1 大买单成交金额占比前 10 股票列表（20250922-20250926） | | | | | --- | --- | --- | --- | --- | | 排序 | WIND 代码 | 股票名称 | 指标值 | 时序分位数 | | 1 | 600308.SH | 华泰股份 | 89.1% | 100.0% | | 2 | 601828.SH | 美凯龙 | 88.9% | 99.2% | | 3 | 600167.SH | 联美控股 | 88.7% | 98.8% | | 4 | 000826.SZ | 启迪环境 | 88.6% | 99.6% | | 5 | 600307.SH | 酒钢宏兴 | 87.9% | 95.9% | | 6 | 601996.SH | 丰林集团 | 87.7% | 98.0% | | 7 | 601366.SH | 利群股份 | 87.7% | 99.2% | | 8 | 002453.SZ | 华软科技 | 87.7% | 99.6% | | 9 | 600935.SH | 华塑股份 | 87.5% | 97.6% | | 10 | 600606.SH | 绿地控股 | 87.3% | 99.2% | 资料来源: Wind，国泰海通证券研究 下表为部分全市场净主动买入金额占比过去 5 日均值排名前 10 的股票。</doc> <doc id='10'>| | 表 2 净主动买入金额占比前 10 股票列表（20250922-20250926） | | | | | --- | --- | --- | --- | --- | | 排序 | WIND 代码 | 股票名称 | 指标值 | 时序分位数 | | 1 | 600295.SH | 鄂尔多斯 | 17.9% | 98.4% | | 2 | 000708.SZ | 中信特钢 | 17.4% | 100.0% | | 3 | 600236.SH | 桂冠电力 | 15.2% | 98.4% | | 4 | 600282.SH | 南钢股份 | 12.7% | 95.1% | | 5 | 002885.SZ | 京泉华 | 11.6% | 100.0% | | 6 | 600323.SH | 瀚蓝环境 | 11.5% | 95.1% | | 7 | 600176.SH | 中国巨石 | 11.5% | 99.2% | | 9 | 603037.SH | 凯众股份 | 11.0% | 100.0% | | 10 | 603091.SH | 众鑫股份 | 10.9% | 99.2% | 资料来源: Wind，国泰海通证券研究</doc> <doc id='11'>3. 宽基指数大额买入与资金流向跟踪 本文使用整体法计算主要宽基指数的大买单成交金额占比和净主动买 入金额占比，列于下表。</doc> <doc id='12'>表 3 宽基指数大额买入与资金流向（20250922-20250926） | | | 大买单成交金额占比 | | 净主动买入金额占比 | | --- | --- | --- | --- | --- | | | 5 日均值 | 5 日均值分位数 | 5 日均值 | 5 日均值分位数 | | 上证指数 | 72.3% | 2.9% | -3.6% | 21.6% | | 上证 50 | 70.2% | 7.3% | 1.1% | 18.4%

Core Viewpoint - The company, Lianmei Holdings (600167.SH), has confirmed that it is currently not involved in research or applications related to nuclear fusion technology [2] Company Summary - Lianmei Holdings responded to an investor inquiry on September 29, stating that it does not engage in nuclear fusion technology or its industrial applications [2]

New Stock Issuance - New stock issuance for Daoshengtianhe (Code: 780026) priced at 5.98 RMB on September 29, 2025[1] - Offer period for the acquisition of Shangwei New Materials (Code: 688585) is from September 29, 2025, to October 28, 2025[1] Delisting and Trading Alerts - Zitian Tui (Code: 300280) is in the delisting preparation period with 4 trading days remaining until the last trading day[1] - Significant abnormal fluctuations reported for Kaipu Cloud (Code: 688228) on September 25, 2025[1] Recent Announcements - Multiple companies including Zhonghuan Hailu (Code: 301040) and Shenhuafa A (Code: 000020) have recent announcements regarding their stock activities[1] - A total of 30 companies have made announcements regarding stock fluctuations and trading activities in the past week[1]

Core Viewpoint - The company announced an investment of 100 million yuan in Moer Thread through its wholly-owned subsidiary, Lhasa Lianhong Technology Development Co., Ltd, which will be disclosed in the 2024 annual report [1] Group 1 - The total investment amount in Moer Thread is 100 million yuan [1] - The investment was made through a wholly-owned subsidiary [1] - Further details regarding other investments will be available in the company's annual report [1]

Market Overview - The electricity sector increased by 0.23% compared to the previous trading day, with Lianmei Holdings leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up by 0.9%, while the Shenzhen Component Index closed at 13479.43, up by 2.05% [1] Top Gainers in the Electricity Sector - Lianmei Holdings (600167) closed at 10.05, with a rise of 5.79% and a trading volume of 997,400 shares, amounting to a transaction value of 1.013 billion [1] - Dongwang Times (600052) closed at 5.55, up by 5.31%, with a trading volume of 491,500 shares [1] - Jidian Co. (000875) closed at 6.12, increasing by 5.15%, with a trading volume of 1.8184 million shares [1] - Other notable gainers include Lixin New Energy (001258) and Tianfu Energy (600509), with increases of 4.62% [1] Top Losers in the Electricity Sector - Jiazhe New Energy (601619) saw a decline of 4.48%, closing at 5.33, with a trading volume of 4.3901 million shares [2] - Qianyuan Electric Power (002039) decreased by 1.68%, closing at 66.99, with a trading volume of 65,700 shares [2] - Leshan Electric Power (600644) fell by 1.64%, closing at 10.78, with a trading volume of 172,500 shares [2] Capital Flow Analysis - The electricity sector experienced a net outflow of 359 million from institutional investors and 207 million from retail investors, while retail investors saw a net inflow of 566 million [2] - Major stocks like Shanghai Electric (600021) and Huadian International (600027) had varying net inflows and outflows from different investor categories [3] Individual Stock Performance - Shanghai Electric (600021) had a net inflow of 159 million from major investors, while retail investors experienced a net outflow of 138.4 million [3] - Huadian International (600027) saw a net inflow of 56 million from major investors, with retail investors also facing a net outflow [3] - Jidian Co. (000875) had a net inflow of 21 million from major investors, while retail investors faced a net outflow of 2167.92 million [3]