展望"十五五"，深圳资本市场将聚焦服务新质生产力与深化改革创新，助力深圳加快建设具有全球重要 影响力的产业金融中心，并全力激活资本市场的枢纽功能。 多元融资赋能实体经济 □ 截至2025年9月底，深圳私募股权创投基金规模近1.37万亿元，投资中小企业1.38万个、高新技术企业 1.11万个、种子期和起步期企业近万个，持续为实体经济注入源头活水 ◎记者 唐燕飞 股权融资超4000亿元、债券融资（含ABS）超2.4万亿元、上市公司市值超11万亿元、头部机构加速集 聚……"十四五"期间（数据统计时间为2021年到2025年10月底），深圳资本市场在服务实体经济、支持 科技创新、培育市场经营主体等方面交出亮眼答卷。 一系列成绩的背后，是深圳上市公司群体鲜明的结构特色：一是高科技企业占比高，新增上市公司中约 80%为科创板、创业板企业；二是民营经济占主体地位，民营企业贡献了全市90%以上的就业；三是外 向型经济特征突出，深圳市出口规模连续32年居全国第一。目前，深圳拥有约20家千亿元市值企业。其 中，腾讯控股市值超5万亿元，工业富联、招商银行、中国平安市值超1万亿元，立讯精密、中兴通讯、 汇川技术等超千亿元市值企业凸显 ...

| | | 星矿板块主力资金监控:今日买入前五榜(2025年11月18日) | | | --- | --- | --- | --- | | 排名 | 板块名称 | 主力资金净流入(亿元) | 主力资金净流入率(%) | | 1 | 文化传媒 | 33.85 | 4.46 | | 2 | 计算机 | 25.07 | 1.49 | | 3 | 通信 | 9.18 | 1.18 | | 4 | 出版 | 3.49 | 5.47 | | 5 | 美容护理 | 0.17 | 0.28 | | | | 星矿板块主力资金监控:今日卖出前五榜(2025年11月18日) | | | 排名 | 板块名称 | 主力资金净流出(亿元) | 主力资金净流出率(%) | | 1 | 电新行业 | -260.30 | -9.88 | | 2 | 有色金属 | -134.63 | -9.59 | | ന | 基础化工 | -107.37 | -8.37 | | 4 | 灰药 | -89.46 | -8.45 | | 5 | 由力沿各 | -70 56 | -10 88 | 从主力板块资金监控数据来看，文化传媒板块主力资金净流入居首。 板块资 ...

Group 1 - The core viewpoint of the news is that Industrial Fulian's stock has shown significant growth this year, with a year-to-date increase of 217.55%, despite a slight decline in the last five and twenty trading days [1][2] - As of November 18, the stock price reached 66.24 yuan per share, with a market capitalization of 1,315.95 billion yuan and a trading volume of 3.724 billion yuan [1] - The company has seen a net inflow of main funds amounting to 85.35 million yuan, with significant buying and selling activity from large orders [1] Group 2 - Industrial Fulian's main business involves the design, research, manufacturing, and sales of various electronic devices, primarily focusing on 3C electronic products, which account for 99.85% of its revenue [1][2] - For the period from January to September 2025, the company reported a revenue of 603.93 billion yuan, reflecting a year-on-year growth of 38.40%, and a net profit attributable to shareholders of 22.49 billion yuan, up 48.52% year-on-year [2] - The company has distributed a total of 56.544 billion yuan in dividends since its A-share listing, with 35.152 billion yuan distributed in the last three years [3]

Group 1: Company Investigation - Kexin Information (300730) has been investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, as announced on November 17, 2025 [1] - The company reported a revenue of 93.65 million yuan for the first three quarters, a year-on-year decline of 36.58%, and a net loss attributable to shareholders of 58.84 million yuan [1] - Kexin Information's stock price was 18.01 yuan per share, with a total market capitalization of 4.343 billion yuan as of November 17 [1] Group 2: Financing Trends - The financing balance of A-shares has reached a historical high of 24,746.99 billion yuan as of November 14, 2025, marking a 34.63% increase from the end of the previous half-year [2] - Thirteen primary industries have seen net financing purchases exceeding 10 billion yuan, with the electronics sector leading at 148.91 billion yuan [2] - The power equipment sector followed with net financing purchases of 91.57 billion yuan, while the communication and non-ferrous metal sectors also exceeded 40 billion yuan [2] Group 3: Individual Stock Performance - A total of 110 stocks have recorded net financing purchases exceeding 1 billion yuan since the second half of 2025, with Ningde Times (300750) leading at 12.25 billion yuan [4] - Other notable stocks include Xinyi Technology (300502) and Zhongji Xuchuang (300308), with net financing purchases of 11.68 billion yuan and 11.43 billion yuan, respectively [4] - The demand for optical modules is expected to grow significantly, with a projected compound annual growth rate of 22% over the next five years, driven by AI applications and network upgrades [5]

Investment Rating - The report maintains a "Recommended" rating for the computer industry [1] Core Insights - The report highlights the increasing consensus on supernodes as a foundational infrastructure for AI, driven by significant capital expenditures from major cloud service providers (CSPs) and advancements in GPU/ASIC technologies [5][8] - OpenAI has secured substantial power agreements totaling over $1 trillion, indicating a robust demand for AI computing power [5][14] - The report emphasizes the growth potential in various segments including servers, liquid cooling, power supply, and storage, with clear growth momentum identified [7][8] Summary by Sections Demand Side - CSPs are raising their capital expenditure forecasts, with Google increasing its 2025 capex to $91-93 billion, Meta to $70-72 billion, and Amazon to $125 billion, primarily for AI infrastructure [5][29] - OpenAI has signed significant power agreements with NVIDIA, AMD, and Broadcom, totaling 26GW and over $1.1 trillion in value [5][15] - Sovereign AI investments are projected to reach $1 trillion over the next five years, with major projects in the US, EU, and Saudi Arabia [5][25] Supply Side - The report notes the continuous iteration of chips, with supernodes becoming a consensus in AI infrastructure, as evidenced by new product launches from various manufacturers [34][5] - NVIDIA's upcoming GPU architectures are expected to enhance computational capabilities significantly, with the Blackwell Ultra and Rubin architectures set to launch in the coming years [36][39] - Major companies like AMD and Huawei are also advancing their AI chip offerings, with AMD's Helios solution and Huawei's Atlas series expected to drive further innovation [41][44] Growth Segments - The server market is experiencing substantial growth, with companies like Hon Hai and Wistron achieving significant increases in AI server shipments [7] - Liquid cooling technology is becoming essential in AI data centers, with companies reporting high double-digit revenue growth [7] - The storage chip industry is entering a period of severe shortage, driving up DRAM prices and increasing demand from CSPs [7] Multi-modal and Application Ecosystem - The report outlines the rapid evolution of AI models, with major updates from OpenAI and Alibaba, and a significant increase in token usage across platforms [7][8] - OpenAI's new applications and models are enhancing its ecosystem, with a notable increase in daily token usage [7][8]

沪深股通今日合计成交2130.01亿，其中工业富联和宁德时代分居沪股通和深股通个股成交额首位。板块主力资金方面，计算机板块主 力资金净流入居首。 ETF成交方面，日经225ETF（513 880）成交额环比增长338%。期指持仓方面，IF合约多头加仓数量大于空头。 龙虎榜方面， 中矿资源遭三家机构卖出3.68亿 ，同时获一家机构买入1.06亿，一家量化席位（开源证券西安西大街）买入8110万。永 太科技遭三家机构卖出1.42亿。盛新锂能遭两家机构卖出8016万，同时获一家机构买入3148万，一家实力游资席位（国泰海通证券上 海新闸路）买入7975万。雅化集团获四家机构买入1.86亿，四家机构卖出1 .44亿。 一、沪深股通前十大成交 今日沪股通总成交金额为1004. 13亿，深股通总成交金额为1125 .87亿。 | | 沪股道( | 11月17日 | ) | | | --- | --- | --- | --- | --- | | 指 | 股票代码 | 股票名称 | | 成交金额(亿元) | | 1 | 601138 | 工业富联 | | 21.09 | | 2 | 603986 | 兆易创新 | | 12. ...

Investment Rating - The industry investment rating is "Outperform the Market" [5][42]. Core Insights - The SW Electronics industry saw a record high in fund heavy positions in Q3 2025, with a fund heavy ratio of 22.14%, up 4.91% quarter-on-quarter and 8.15% year-on-year [1][12]. - The focus of institutional investors is on AI computing power, semiconductor self-sufficiency, and an increased interest in the storage sector [2][22]. - The semiconductor sector remains the only sub-sector with an overweight position, while the concentration of the top five heavy positions has decreased, indicating a trend towards diversification in fund allocations [3][35]. Summary by Sections Fund Heavy Positions and Overweight Ratios - The SW Electronics industry had a matching ratio of 12.42% in Q3 2025, with a slight decrease of 0.14 percentage points quarter-on-quarter but an increase of 3.47 percentage points year-on-year [1][12]. - The overweight ratio for the SW Electronics industry in Q3 2025 was 9.71%, reflecting a quarter-on-quarter increase of 1.44 percentage points and a year-on-year increase of 3.65 percentage points [1][12]. Top Heavy Positions - The top ten heavy positions in the SW Electronics industry for Q3 2025 included companies like Cambricon, SMIC, and Industrial Fulian, with a significant focus on semiconductor and AI computing power stocks [2][17]. - All top ten heavy positions experienced price increases in Q3, with Industrial Fulian, Cambricon, and Shenghong Technology showing the highest gains [2][17]. Investment Focus Areas - Institutional investors are particularly focused on AI computing power, with key players in the AI server manufacturing and domestic AI chip sectors benefiting from accelerated industry development [2][22]. - The semiconductor sector is emphasized for its self-sufficiency, with companies like SMIC and Zhongwei benefiting from domestic supply chain improvements [2][22]. - The storage sector is gaining attention, with leading storage chip manufacturer Zhaoyi Innovation seeing continuous institutional accumulation due to favorable supply-demand dynamics [2][22]. Sub-sector Allocation - Only the semiconductor sector maintains an overweight position at 6.26%, despite a decrease of 1.60 percentage points [3][31]. - The optical and optoelectronic sector has seen a slight narrowing of its underweight ratio, indicating a potential shift in investor interest [3][31]. Diversification Trends - The concentration of the top five heavy positions in the SW Electronics industry has been declining since Q1 2025, suggesting a diversification trend in fund allocations [3][35]. - The market share of the top five, ten, and twenty heavy positions in the overall fund heavy market value is 36.36%, 58.02%, and 74.73%, respectively [3][35]. Investment Recommendations - The report suggests focusing on companies within the AI computing power and semiconductor self-sufficiency sectors, as well as the storage sector, which is expected to benefit from ongoing demand and price increases [2][40][37].

沪深股通今日合计成交2130.01亿，其中工业富联和宁德时代分居沪股通和深股通个股成交额首位。板块主力资金方 面，计算机板块主力资金净流入居首。ETF成交方面，日经225ETF（513880）成交额环比增长338%。期指持仓方 面，IF合约多头加仓数量大于空头。龙虎榜方面，中矿资源遭三家机构卖出3.68亿，同时获一家机构买入1.06亿， 一家量化席位（开源证券西安西大街）买入8110万。永太科技遭三家机构卖出1.42亿。盛新锂能遭两家机构卖出 8016万，同时获一家机构买入3148万，一家实力游资席位（国泰海通证券上海新闸路）买入7975万。雅化集团获四 家机构买入1.86亿，四家机构卖出1.44亿。 一、沪深股通前十大成交 今日沪股通总成交金额为1004.13亿，深股通总成交金额为1125.87亿。 | | | 沖股通( 11月17日 | | | --- | --- | --- | --- | | 排名 | 股票代码 | 股票名称 | 成交金额(亿元) | | 1 | 601138 | 工业富联 | 21.09 | | 2 | 603986 | 兆易创新 | 12.80 | | 3 | 600519 | 贵 ...

沪深股通今日合计成交2130.01亿，其中工业富联和宁德时代分居沪股通和深股通个股成交额首位。板块主力资金方面，计算机板块主力资金净流入居首。 ETF成交方面，日经225ETF（513880）成交额环比增长338%。期指持仓方面，IF合约多头加仓数量大于空头。龙虎榜方面，中矿资源遭三家机构卖出3.68 亿，同时获一家机构买入1.06亿，一家量化席位（开源证券西安西大街）买入8110万。永太科技遭三家机构卖出1.42亿。盛新锂能遭两家机构卖出8016万， 同时获一家机构买入3148万，一家实力游资席位（国泰海通证券上海新闸路）买入7975万。雅化集团获四家机构买入1.86亿，四家机构卖出1.44亿。 一、沪深股通前十大成交 今日沪股通总成交金额为1004.13亿，深股通总成交金额为1125.87亿。 | | 沪股通( | 11月17日 ) | | | --- | --- | --- | --- | | 排名 | 股票代码 | 股票名称 | 成交金额(亿元) | | 1 | 601138 | 工业富联 | 21.09 | | 2 | 603986 | 兆易创新 | 12.80 | | 3 | 600519 | 贵 ...

具体来看，电子行业以115次调研、覆盖18只个股的成绩位居榜首，无论在调研频次还是个股数量上均 排名第一。 新华财经上海11月17日电（林郑宏） 据公募排排网统计数据显示，上周（2025年11月10日-11月16日） 共有125家公募机构参与到A股调研活动中，覆盖到22个申万一级行业中的132只个股，合计调研次数达 707次，尽管较前一周小幅回落，整体调研热度仍处于较高水平。 万亿市值消费电子龙头企业工业富联最受公募青睐，吸引了博时基金、嘉实基金等48家机构集中调研， 重点关注其全球化扩张进程。同属电子行业的奥比中光获调研15次，机构主要关注其自研芯片的最新进 展。 在调研热度前十的个股中，医药生物和机械设备行业均有3只个股入围。医药生物行业方面，瑞迈特、 澳华内镜和安科生物分别获调研31次、25次和24次；机械设备行业中，博盈特焊、沃尔德与奥普特分别 获调研30次、19次和15次。 | 上周公募调研次数排名前十个股 | A 股简称 | 被调研次数 | 申万一级行业 | | | | --- | --- | --- | --- | --- | --- | | 电子 | 工业富联 | 48 | 瑞迈特 | 医药生 ...