记者丨彭新 编辑丨包芳鸣 11月24日，A股AI算力龙头工业富联（601138.SH）股价午后跳水，一度触及跌停，最终收跌7.80%，报55.94元/股，创下 两个月以来的新低 。作为市值一度突破1.3万亿元的AI算力核心标的，工业富联单日蒸发市值近千亿元，近三个交易日累计跌幅已超14%。 同日，有投资者在互动平台向工业富联提问：有消息传，公司已经下调了第四季度业绩目标，同时也有观点认为，大客户在L10/L11商业模式 上会有调整，可能对公司在业务布局和盈利能力产生不利影响。请问属实吗，公司如何看待？ 工业富联回应称，当前，公司第四季度整体经营，包括GB200、GB300等相关产品出货均按既定计划推进，客户需求持续畅旺，生产及出货一 切正常。公司未向市场下调第四季度利润目标，不存在应披露未披露的信息。同时，与客户合作开发的下一代产品，也正在按前期的计划如期 顺利推进当中。 同日，工业富联母公司鸿海精密（2317.TW）亦同步发布相关澄清公告，强调生产及出货一切正常。11月25日，截至当日收盘，工业富联上涨 1.2%，报56.61元/股。 股价震荡 值得注意的是， 目前机构目标价与工业富联现价存在显著差距。 1 ...

分组1 - Weili Medical plans to distribute a cash dividend of 2 yuan per 10 shares to all shareholders, based on an undistributed profit of 704 million yuan as of September 30, 2025 [1] - Tongding Interconnect's shareholder plans to reduce their stake by up to 0.49%, equating to a maximum of 605,800 shares [1] - Caitong Securities has received approval from the China Securities Regulatory Commission to issue short-term corporate bonds with a total face value of up to 5 billion yuan [1] 分组2 - Youfu Food intends to use 70 million yuan of its own funds to invest in wealth management products with expected annual returns of up to 4.2% [3] - Keres received an administrative regulatory decision from the Guangdong Securities Regulatory Bureau for violations related to accounts receivable aging calculations and related party transactions [5] - Ouma Software's controlling shareholder has completed the transfer of state-owned equity, changing the controlling shareholder to Shandong Guotou [7] 分组3 - ST Huapeng's wholly-owned subsidiary has completed a major overhaul project and is now in production [8] - Beiqi Blue Valley has received approval from the China Securities Regulatory Commission for a stock issuance to specific investors [8] - Weijie Chuangxin received a government subsidy of 5 million yuan, accounting for 21.07% of its projected net profit for 2024 [9] 分组4 - China Resources Double Crane's subsidiary has received a drug registration certificate for a hypertension treatment drug [11] - Huafeng shares are continuing to suspend trading due to a planned change in control [13] - Kaifa Electric's shareholder plans to transfer 36.6869 million shares, representing 11.63% of the total share capital [14] 分组5 - Heng Rui Medicine has received approval for two clinical trials for innovative anti-tumor drugs [15] - Kosen Technology plans to invest 30 million USD to establish a new production base in Malaysia [17] - Sanxing Medical's subsidiary is expected to win a procurement project from the State Grid worth approximately 107 million yuan [18] 分组6 - Sitai Li's subsidiary has received a drug registration certificate for a contrast agent used in MRI [21] - Daren Tang's subsidiary has received a drug registration certificate for a pain relief gel [22] - Saike Xide has received approval for three medical device products, expanding its product range in the in vitro diagnostic field [23] 分组7 - Hasa Lian has elected a new chairman and vice chairman for its board of directors [24] - Two-sided Needle's subsidiary plans to invest 68.8522 million yuan in a production base expansion project [25] - Sunshine Nuohe plans to transfer 70% of its controlling subsidiary's equity for 2 million yuan [26] 分组8 - Hengbang shares received an administrative regulatory decision from the Shandong Securities Regulatory Bureau for failing to complete the election of independent directors [27] - Huali shares plan to sign a related transaction contract worth approximately 59.2847 million yuan [28] - Shangwei shares plan to invest 520.4 million yuan to gain a controlling stake in Sichuan Zhongfu Taihua [30] 分组9 - Zejing Pharmaceutical's ZG006 has been included in the list of breakthrough therapeutic varieties for treating advanced neuroendocrine cancer [32] - Yaopi Glass's shareholder plans to reduce their stake by up to 2.26%, equating to a maximum of 21.1469 million shares [34] - Huate Gas has initiated a major lawsuit involving a claim of 180 million yuan [36] 分组10 - Zhongchumei's controlling shareholder plans to increase their stake by between 42 million and 80 million yuan [37] - Huitong shares' shareholder plans to reduce their stake by up to 1% [38] - Miaowei Exhibition plans to apply for an initial public offering of H shares on the Hong Kong Stock Exchange [40] 分组11 - Tianqi Lithium's subsidiary has appealed to the Chilean Supreme Court regarding a partnership agreement with SQM and Codelco [42] - Naxin Micro plans to repurchase shares worth between 200 million and 400 million yuan [44] - Pingao shares have reported significant uncertainty regarding future business development and profitability [46] 分组12 - Shunyu shares have been pre-selected for a project worth 1.023 billion yuan [48] - Zhongyuan Neipei plans to acquire a 2.5% share in an aerospace industry fund for 50 million yuan [50] - Huifa Food's shareholder plans to reduce their stake by up to 3%, equating to a maximum of 727.14 million shares [53] 分组13 - Junshi Biosciences' subcutaneous PD-1 new formulation has reached its primary endpoint in a Phase III clinical trial [54] - Industrial Fulian clarified that it has not lowered its fourth-quarter profit target amid market rumors [55] - Longpan Technology's subsidiary has signed a major supply agreement for lithium iron phosphate materials, significantly increasing the supply volume [56]

这是工业富联破除"谣言"后的表现。总体来看，它的市场表现不算强势，股价的下跌趋势也并没有因为谣言的破除而改变，尚处于下跌通道之 中。 星标 ★ IPO日报 精彩文章第一时间推送 11月25日，工业富联股价以56.36元开盘，涨幅不到1%，然后震荡上涨，最高涨至58.34元，大约10点51分后开始震荡下跌，收盘价56.61元，上涨 幅度1.2%。 张力制图 此前有谣言称，工业富联"下调第四季度业绩目标""大客户在L10/L11商业模式上会有调整"等不实言论，引发了市场关注，并导致11月24日工业 富联股价一度跌停，尾盘股价有所反弹，但依然大跌。它一度成为当时市场上市值最大的跌停股，惊吓了一众投资者。 对于投资者来说，面对这种暴跌，情绪化的操作（如盲目跟风杀跌或急于抄底）是最危险的。 不过，工业富联随后反应迅速，立即澄清称，网络上流传的相关言论不实，公司第四季度经营均按既定计划推进，客户需求旺盛，生产及出货一 切正常。 可见在资本市场上，有时谣言对投资者会产生重大影响，造成重大投资损失。在此，笔者希望相关监管部门对谣言进行追责，给投资者一片清朗 的投资空间。 与此同时，笔者认为，谣言是引导工业富联股价大跌的导火索 ...

11月24日，A股AI算力龙头工业富联（601138.SH）股价午后跳水，一度触及跌停，最终收跌7.80%，报 55.94元/股，创下两个月以来的新低。作为市值一度突破1.3万亿元的AI算力核心标的，工业富联单日蒸 发市值近千亿元，近三个交易日累计跌幅已超14%。 同日，有投资者在互动平台向工业富联提问：有消息传，公司已经下调了第四季度业绩目标，同时也有 观点认为，大客户在L10/L11商业模式上会有调整，可能对公司在业务布局和盈利能力产生不利影响。 请问属实吗，公司如何看待？ 工业富联回应称，当前，公司第四季度整体经营，包括GB200、GB300等相关产品出货均按既定计划推 进，客户需求持续畅旺，生产及出货一切正常。公司未向市场下调第四季度利润目标，不存在应披露未 披露的信息。同时，与客户合作开发的下一代产品，也正在按前期的计划如期顺利推进当中。 同日，工业富联母公司鸿海精密（2317.TW）亦同步发布相关澄清公告，强调生产及出货一切正常。11 月25日，截至当日收盘，工业富联上涨1.2%，报56.61元/股。 股价震荡 尽管工业富联基本面保持高增长，但近期股价却呈现单边下跌态势。自10月30日创下阶段性高 ...

（原标题：单日蒸发近千亿！工业富联急跌背后，机构乐观难敌商业模式隐忧） 21世纪经济报道记者 彭新 11月24日，A股AI算力龙头工业富联（601138.SH）股价午后跳水，一度触及跌停，最终收跌7.80%，报55.94元/股，创下两个月以来的新低。作为 市值一度突破1.3万亿元的AI算力核心标的，工业富联单日蒸发市值近千亿元，近三个交易日累计跌幅已超14%。 同日，有投资者在互动平台向工业富联提问：有消息传，公司已经下调了第四季度业绩目标，同时也有观点认为，大客户在L10/L11商业模式上会 有调整，可能对公司在业务布局和盈利能力产生不利影响。请问属实吗，公司如何看待？ 工业富联回应称，当前，公司第四季度整体经营，包括GB200、GB300等相关产品出货均按既定计划推进，客户需求持续畅旺，生产及出货一切 正常。公司未向市场下调第四季度利润目标，不存在应披露未披露的信息。同时，与客户合作开发的下一代产品，也正在按前期的计划如期顺利 推进当中。 同日，工业富联母公司鸿海精密（2317.TW）亦同步发布相关澄清公告，强调生产及出货一切正常。11月25日，截至当日收盘，工业富联上涨 1.2%，报56.61元/股。 ...

Market Overview - The market showed strong performance in the early session, with the Shanghai Composite Index rising over 1% and the ChiNext Index increasing over 2% [1] - By the end of the morning session, the Shanghai Composite Index was up 1.13%, the Shenzhen Component Index rose 2.04%, and the ChiNext Index gained 2.6% [1] Sector Performance - The computing hardware sector continued its strong momentum, with stocks like TeFa Information achieving three consecutive trading limits and LongFly Optical Fiber, HuiLv Ecology hitting the daily limit [2] - The AI application sector saw a resurgence, with ShiDa Group achieving four consecutive trading limits and RongJi Software hitting six limits in seven days [2] - The anti-influenza sector was also active, with GuangJi Pharmaceutical achieving two consecutive limits and TeYi Pharmaceutical, BeiDa Pharmaceutical hitting the daily limit [2] - Conversely, the aquaculture sector experienced fluctuations, with stocks like ZhangZi Island and ZhongShui Fishery hitting the daily limit down [2] Trading Volume - The total trading volume for the Shanghai and Shenzhen markets reached 1.17 trillion yuan, an increase of 149.3 billion yuan compared to the previous trading day [3] Individual Stock Highlights - ZhongJi XuChuang led in trading volume with over 16.5 billion yuan, followed by XinYiSheng, BlueFocus, and YangGuang Electric with significant trading volumes [4]

Market Performance - The Shanghai Composite Index rose by 0.05% to close at 3836.77 points, with a daily high of 3854.33 points [1] - The Shenzhen Component Index increased by 0.37% to close at 12585.08 points, reaching a high of 12655.29 points [1] - The ChiNext Index gained 0.31%, closing at 2929.04 points, with a peak of 2951.43 points [1] Margin Trading Data - The total margin trading balance in the Shanghai and Shenzhen markets was 24511.26 billion yuan, with a financing balance of 24347.55 billion yuan and a securities lending balance of 163.71 billion yuan [1] - The margin trading balance decreased by 27.05 billion yuan compared to the previous trading day [1] - The Shanghai market's margin trading balance was 12499.83 billion yuan, down by 6.24 billion yuan, while the Shenzhen market's balance was 12011.43 billion yuan, down by 20.81 billion yuan [1] Top Stocks by Margin Buying - A total of 3459 stocks had margin buying, with the top three being: - Zhongji Xuchuang with a buying amount of 3.215 billion yuan - Bluefocus with 2.116 billion yuan - Industrial Fulian with 1.562 billion yuan [1]

Group 1 - A total of 3738 stocks in the A-share market received financing purchases on November 24, with 310 stocks having purchase amounts exceeding 100 million yuan [1] - The top three stocks by financing purchase amount were Zhongji Xuchuang, BlueFocus, and Industrial Fulian, with amounts of 3.215 billion yuan, 2.116 billion yuan, and 1.562 billion yuan respectively [1] - Four stocks had financing purchase amounts accounting for over 30% of the total transaction amount, with Senying Windows, Pinggao Group, and Shisheng Intelligent leading at 42.73%, 41.08%, and 39.44% respectively [1] Group 2 - Seventeen stocks had net financing purchases exceeding 100 million yuan, with BlueFocus, Cambrian, and Tianqi Lithium ranking the highest at 393 million yuan, 290 million yuan, and 262 million yuan respectively [1]

Market Overview - US stock market continued its upward trend, with the Dow Jones rising by 202.86 points (0.44%) to 46,448.27, the Nasdaq increasing by 2.69% to 22,872.01, and the S&P 500 gaining 1.55% to 6,705.12, driven by expectations of a Federal Reserve rate cut in December [2] - The Nasdaq China Golden Dragon Index rose by 2.8%, with Baidu increasing by 7.4% after JPMorgan upgraded its rating from "neutral" to "overweight," citing growth in Baidu's cloud and AI business [3] - Economic data indicated a contraction in manufacturing activity, with the Dallas Fed's manufacturing index dropping from -5.0 in October to -10.4 in November, suggesting a worsening factory activity [4] Company Performance - Tesla shares surged by 6.8%, Amazon by 2.5%, and Alphabet (Google's parent company) by 6.3%, nearing a market capitalization of $4 trillion due to optimism surrounding its AI advancements [2] - Broadcom's stock rose by 11%, becoming the largest gainer among S&P 500 and Nasdaq components, following an upgrade in target price by HSBC from $400 to $535 [2] - Novo Nordisk's shares fell by 5.6% after its Alzheimer's clinical trial using semaglutide failed to show efficacy in slowing disease progression [2] Economic Indicators - The market anticipates a 80.9% probability of a 25 basis point rate cut by the Federal Reserve in December, up from 71% the previous week [4] - The US Commerce Department announced it would not release the delayed preliminary GDP estimate for Q3, shifting to a future update report [5] - The holiday shopping season is set to begin, with the National Retail Federation forecasting holiday sales to exceed $1 trillion for the first time, despite concerns over consumer spending amid rising layoffs [6] Investment Trends - Amazon announced a plan to invest up to $500 billion to expand AI and supercomputing capabilities for its government clients, with construction of new data centers expected to begin in 2026 [18] - Industrial Fulian, a key supplier to Nvidia, saw its stock price drop by 30.77% from October 30 to November 24, raising concerns about its fourth-quarter performance amid rumors of lowered shipment expectations [17]

Market Overview - The market showed strong performance in the early session, with the Shanghai Composite Index rising over 1% and the ChiNext Index increasing over 2% [1] - By the end of the morning session, the Shanghai Composite Index was up 1.13%, the Shenzhen Component Index rose 2.04%, and the ChiNext Index gained 2.6% [1] Stock Performance - Nearly 4,900 stocks in the market experienced an increase [2] - The computing hardware sector continued to show strength, with stocks like TeFa Information achieving three consecutive trading limit ups, and Longi Green Energy and Huayou Cobalt hitting the daily limit [3] - The AI application sector saw a resurgence, with Shida Group achieving four consecutive trading limit ups and Rongji Software hitting six limit ups in seven days [3] - The anti-influenza sector was also active, with Guangji Pharmaceutical achieving two consecutive limit ups, and Te Yi Pharmaceutical and Peking University Pharmaceutical hitting the daily limit [3] Declining Stocks - The aquaculture sector experienced fluctuations, with stocks like Zhangzi Island and Zhongshui Fishery hitting the daily limit down [4] Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 1.17 trillion yuan, an increase of 149.3 billion yuan compared to the previous trading day [5] Top Stocks by Trading Volume - Zhongji Xuchuang led with a trading volume exceeding 16.5 billion yuan, followed by Xinyi Sheng and BlueFocus with high trading volumes [6]