Core Viewpoint - The Shanghai Composite Index fell by 0.40% on November 20, with the total margin financing balance decreasing to 24,917.03 billion yuan, a reduction of 62.37 billion yuan from the previous trading day [1] Margin Financing Overview - As of November 20, the margin financing balance in the Shanghai Stock Exchange was 12,635.55 billion yuan, down by 53.99 billion yuan; in the Shenzhen Stock Exchange, it was 12,203.81 billion yuan, down by 7.34 billion yuan; and in the Beijing Stock Exchange, it was 77.67 billion yuan, down by 1.04 billion yuan [1] - The total margin financing balance across Shanghai, Shenzhen, and Beijing decreased by 62.37 billion yuan [1] Industry Analysis - Among the industries tracked by Shenwan, 11 industries saw an increase in financing balance, with the telecommunications sector leading with an increase of 14.02 billion yuan, followed by the banking and defense industries with increases of 5.39 billion yuan and 4.11 billion yuan, respectively [1] Individual Stock Performance - A total of 1,593 stocks experienced an increase in financing balance, accounting for 42.51% of the total, with 169 stocks seeing an increase of over 5% [1] - The stock with the largest increase in financing balance was Hengguang Co., with a latest financing balance of 98.05 million yuan, reflecting a 52.57% increase, despite a price drop of 6.90% on the same day [1] - Other notable stocks with significant increases in financing balance included Dexin Technology and Inspur Software, with increases of 47.04% and 29.06%, respectively [1] Top Gainers and Losers - Among the top 20 stocks with the largest increase in financing balance, the average price change was an increase of 0.74%, with the highest gainers being Zhengguang Co., Aerospace Development, and Delijia, with increases of 20.01%, 9.98%, and 8.54%, respectively [2] - Conversely, Hengguang Co., Chlor-alkali Chemical, and Inspur Software were among the largest decliners, with price drops of 6.90%, 6.19%, and 5.58%, respectively [2] Declining Stocks - A total of 2,154 stocks saw a decrease in financing balance, with 190 stocks experiencing a decline of over 5% [4] - The stock with the largest decrease in financing balance was Reite Technology, with a latest balance of 6.06 million yuan, down by 48.78% from the previous trading day [4] - Other stocks with significant declines included Wangcheng Technology and Oukang Pharmaceutical, with decreases of 41.86% and 35.55%, respectively [4]

而龙虎榜中资金净流出最多的是多氟多（002407.SZ），被净卖出为3.04亿元，占总成交金额的3.74%。多氟多收 盘下跌9.99%，换手率为20.64%。 11月20日，上证指数下跌0.4%，深证成指下跌0.76%，创业板指下跌1.12%。盘后龙虎榜数据显示，共有45只个股 因当日异动登上龙虎榜，资金净流入最多的是浪潮软件（600756.SH），达1.76亿元。 据21投资通智能监测，23只个股龙虎榜出现了机构的身影，北向资金参与龙虎榜中的个股共涉及14只。 1.76亿资金抢筹浪潮软件，3.04亿资金出逃多氟多 45只上榜的龙虎榜个股中，19只个股被净买入，26只个股被净卖出。其中，资金净买入最多的是浪潮软件，达 1.76亿元，占总成交金额的4.84%。浪潮软件当日收盘下跌5.58%，换手率为45.73%。 | 名称 | 涨跌幅 | 龙虎榜净买 | 净买额占 | 换手率 | | | --- | --- | --- | --- | --- | --- | | | | 额(万元) | 总成交比 | | | | 浪潮软件 | -5.58% | 17634 | 4.84% | 45.73% | 卖一主卖,成功率3 ...

下面我们来看下今日龙虎榜情况： 高位股方面，合富中国复牌后再度涨停走出15天13板，九牧王上演"天地天"晋级7连板，航天发展、中 水渔业5连板，榕基软件4连板。 龙虎榜单日净卖出额前三为多氟多、国联水产、好当家，分别为3.04亿元、1.67亿元、1.19亿元。 11月20日，沪深两市成交额1.71万亿，较上一个交易日缩量177亿。板块方面，海南、盐湖提锂、小金 属、银行等板块涨幅居前，乳业、美容护理、光伏设备、食品加工等板块跌幅居前。 | 代码 | 名称 | 涨幅 | 现价 涨停分析 儿天儿板 | | --- | --- | --- | --- | | 603122 | 合富中国 | +10.00% | 26.18 两岸医疗+体外诊断+非理性 15天13板 | | 601566 | 九牧王 | +9.98% | 18.41 海峡两岸+男裤+业绩高增+? 7连板 | | 000547 | 航大发展 | +9.98% | 13.78 商业航天+海峡两岸+亏损收 5连板 | | 000798 | 中水海V | +10.02% | 13.72 元洋渔业+国企改革+业绩增 5连板 | | 002474 | 榕基软件 | ...

| 序号 | 交易营业部名称 | | 买入金额(万) | 占总成交比例 | | --- | --- | --- | --- | --- | | 1 | 国金证券股份有限公司上海静安区南京西路证券营业部 | 14次 42.86% 2 | | | | 2 | 中信证券股份有限公司东阳吴宁西路证券营业部 | 16次 56.25% | | | | 3 | 开源证券股份有限公司西安西大街证券营业部 | 672次 49.26% | | | | 4 | 沪股通专用 | 587次 45.66% | | | | 5 | 东方财富证券股份有限公司拉萨东环路第二证券营业部 | 601次 30.78% | | | | | (买入前5名与卖出前5名)总合计: | | 36768.23 | 10.10% | 格隆汇11月20日｜此前3连板涨停的浪潮软件(600756.SH)今日跌5.58%，换手率45.73%，成交额36.41亿元。龙虎榜数据显示，游资"作手新一"位列买一席 位，买入1.28亿元；"量化打板"位列卖三席位，卖出3032万元；沪股通位列买三席位，买入6055万元。(格隆汇) | 买入金额最大的前5名 | | | | | | ...

Market Overview - The Shanghai Composite Index fell by 0.40% on November 20, with 7 industries experiencing gains, led by construction materials and comprehensive sectors, which rose by 1.40% and 0.87% respectively [1] - The beauty care and coal industries saw the largest declines, with drops of 2.39% and 2.10% respectively [1] - The computer industry also declined by 0.89% [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 47.655 billion yuan, with 4 industries seeing net inflows [1] - The banking sector led the net inflow with 2.188 billion yuan, resulting in a 0.86% increase [1] - The telecommunications sector followed with a net inflow of 1 billion yuan and a daily increase of 0.51% [1] - A total of 27 industries experienced net capital outflows, with the power equipment sector leading at 9.059 billion yuan, followed by the electronics sector at 5.582 billion yuan [1] Computer Industry Specifics - The computer industry saw a net outflow of 4.597 billion yuan, with 336 stocks in the sector [2] - Out of these, 99 stocks increased, with 3 hitting the daily limit, while 236 stocks declined [2] - The top net inflow stocks included Changshan Beiming with 368 million yuan, Junyi Digital with 195 million yuan, and Huasheng Tiancai with 165 million yuan [2] - The top net outflow stocks were Inspur Software, 360, and Kingsoft, with outflows of 516 million yuan, 409 million yuan, and 322 million yuan respectively [2][4] Top Gainers in Computer Industry - Notable gainers included: - Changshan Beiming: +3.62%, turnover rate 10.26%, net inflow 368.38 million yuan - Junyi Digital: +14.27%, turnover rate 35.78%, net inflow 195.46 million yuan - Huasheng Tiancai: +3.00%, turnover rate 39.23%, net inflow 165.25 million yuan [2] Top Losers in Computer Industry - Significant losers included: - Inspur Software: -5.58%, turnover rate 45.73%, net outflow 515.71 million yuan - 360: -4.55%, turnover rate 4.05%, net outflow 409.47 million yuan - Kingsoft: -3.38%, turnover rate 1.38%, net outflow 321.67 million yuan [4]

Market Overview - As of November 20, the Shanghai Composite Index closed at 3931.05 points, down 15.69 points, a decrease of 0.40% [1] - The Shenzhen Component Index closed at 12980.82 points, down 99.27 points, a decrease of 0.76% [1] - The ChiNext Index closed at 3042.34 points, down 34.50 points, a decrease of 1.12% [1] Stock Performance - A total of 80 A-shares had a turnover rate exceeding 20%, with stocks like Guqi Wool Material and Jianglong Shipbuilding exceeding 50% turnover [1] - The top three stocks by turnover rate included: - Guqi Wool Material (Stock Code: 001390) with a turnover rate of 58.81% and a closing price of 32.96 yuan, up 10.01% [1] - Jianglong Shipbuilding (Stock Code: 300589) with a turnover rate of 55.33% and a closing price of 19.58 yuan, up 2.09% [1] - C South Network Technology (Stock Code: 301638) with a turnover rate of 53.40% and a closing price of 22.00 yuan, down 7.91% [1] Notable Stocks - Other notable stocks with high turnover rates included: - Sanmu Group (Stock Code: 000632) with a turnover rate of 49.68% and a closing price of 7.45 yuan, up 5.08% [1] - C Hengkun (Stock Code: 688727) with a turnover rate of 47.40% and a closing price of 58.22 yuan, down 3.05% [1] - Langchao Software (Stock Code: 600756) with a turnover rate of 45.73% and a closing price of 22.50 yuan, down 5.58% [1] Additional Stock Insights - Other stocks with significant turnover rates included: - Intelligent Control (Stock Code: 002877) with a turnover rate of 44.48% and a closing price of 12.00 yuan, up 9.99% [1] - Guolian Aquatic Products (Stock Code: 300094) with a turnover rate of 43.66% and a closing price of 4.76 yuan, down 11.52% [1] - Chuling Information (Stock Code: 300250) with a turnover rate of 42.66% and a closing price of 32.10 yuan, up 7.72% [1]

Group 1: New Stock Offerings - Tianpu Co., Ltd. (Stock Code: 605255) has a tender offer period from November 20, 2025, to December 19, 2025[1] - Hangzhou Steam Turbine Co., Ltd. (Stock Code: 200771) has a cash option declaration period from November 19, 2025, to November 25, 2025[1] - Central Plaza (Stock Code: 600280) announced on November 20, 2025[1] Group 2: Stock Performance Alerts - Moen Electric (Stock Code: 002451) reported severe abnormal fluctuations on November 14, 2025[1] - ST Yuancheng (Stock Code: 603388) reported severe abnormal fluctuations on November 11, 2025[1] - ST Keli Da (Stock Code: 603828) reported severe abnormal fluctuations on November 12, 2025[1] Group 3: Recent Announcements - Jiumuwang (Stock Code: 601566) announced on November 20, 2025[1] - Taiping Bird (Stock Code: 603877) announced on November 20, 2025[1] - Huaci Co., Ltd. (Stock Code: 001216) announced on November 20, 2025[1]

Core Viewpoint - The trading volume of Inspur Software reached a record high of 3.158 billion yuan since its listing, despite a slight decline in stock price by 1.72% [2] Group 1: Trading Performance - The latest trading volume for Inspur Software was 3.158 billion yuan, marking a new high since its IPO [2] - The stock price experienced a decrease of 1.72% [2] - The turnover rate was reported at 39.15% [2] Group 2: Previous Trading Data - The trading volume for the previous trading day was 127 million yuan [2]

（文章来源：证券时报网） 数据宝统计，截至09:42，浪潮软件成交额20.15亿元，创2022年1月26日以来新高。最新股价上涨 1.93%，换手率24.61%。上一交易日该股全天成交额为1.27亿元。（数据宝） ...

Group 1 - The market focus stocks include HeFu China, which has seen a 14-day streak of 12 consecutive gains, opening flat [1] - Local stock Jiumuwang from Fujian opened up by 7.11% with a 6-day gain streak [1] - Aerospace Development, with a 4-day gain streak, opened at the daily limit [1] Group 2 - The actual controller change in Zhenai Meijia led to a 0.18% increase at the opening, maintaining a 6-day gain streak [1] - Perovskite concept stock Guosheng Technology opened flat, having a streak of 8 days with 6 gains [1] - Aquaculture stock Zhongshui Fishery reached the daily limit with a 4-day gain streak [1] Group 3 - Kaolin material concept stock Huaci Co., Ltd. opened down by 2.29% with a 4-day gain streak [1] - AI application concept stocks Rongji Software and Inspur Software opened up by 7.87% and 7.01% respectively, both with a 3-day gain streak [1] - Lithium extraction from salt lake concept stock Jinyuan Co., Ltd. reached the daily limit with a 3-day gain streak [1]