中证报中证网讯(记者林倩)12月25日，东吴证券策略首席分析师陈刚在中国证券报"金牛来了"直播间表 示，2026年资金将继续向股市流动，大类资产配置中，权益资产的配置比例中长期内将得到提升。 ...

Group 1 - The core logic driving "technology growth" will remain unchanged through 2026, according to Dongwu Securities' chief strategist Chen Gang [1] - AI trading is expanding towards applications and edge computing, indicating a shift in focus [1] - The company is optimistic about sectors such as edge consumer electronics and smart vehicles [1]

Core Viewpoint - The demand for optical modules is expected to reach tens of millions by 2026, driven by the continuous increase in computing power requirements, leading to a shift towards automation in production processes [1][2][3] Group 1: Market Demand and Trends - The demand for AI computing servers is continuously being revised upwards, which in turn boosts the demand for optical modules [2] - Google’s Gemini3 and Nvidia’s Rubin architecture are key drivers for increased server shipments and higher bandwidth requirements for optical modules [2] - The optical module is a core component for building efficient computing clusters, essential for the advancement of AI technologies [2] Group 2: Industry Transformation - Historically, the optical module industry has been labor-intensive, but technological upgrades and overseas expansion are driving the need for automation [3] - The transition from 800G to 1.6T optical modules necessitates higher precision in assembly and testing, making automation equipment essential [3] - Companies are increasingly establishing overseas production capacities, particularly in Southeast Asia, to meet North American client demands, further emphasizing the need for automation due to labor quality concerns [3] Group 3: Recommended Companies - Companies with relevant product layouts in the optical module sector are highlighted for investment opportunities, including: - Coupling equipment: Robotech (300757.SZ) - AOI testing equipment: Aotaiwei (688516.SH), Tianzhun Technology (688003.SH), Quick Intelligent (603203.SH) - Attachment equipment: Bozhong Precision (688097.SH) - Automation assembly equipment: Kaige Precision Machinery (301338.SZ) - Fiber Array Unit (FAU): Jieput (688025.SH) [1]

"中国财富管理当下正处于泛财富管理3.0阶段。"梁纯良将行业划分为三大发展阶段：以"产品体系和谱 系建设"为核心的金融产品供给阶段，这是财富管理转型1.0阶段；以"品牌升级、陪伴服务"为核心的大 类资产配置阶段，这是财富管理转型2.0阶段；以"线上线下、场内场外、境内境外"财富管理业务打通 为核心，构建业内领先的全生命周期财富管理平台和覆盖全球资产配置为目标愿景的泛财富管理3.0阶 段。 ◎记者 李雨琪 从"根据地"到"生态圈"的护城河 在资本市场改革深化与居民财富管理需求升级驱动下，财富管理行业正迎来从"产品销售"向"价值创 造"的深刻变革。 近日，东吴证券执委、财富管理委员会总经理梁纯良在接受上海证券报记者专访时表示，公司将围绕金 融"五篇大文章"进行全景化布局，深化买方投顾转型、优化资产配置能力、强化科技赋能、拓展服务场 景，最终构建一个与产业链上下游共荣的财富管理生态。 起于苏州，兴于长三角。这场以科技重塑服务、以生态定义未来的实践，正在为中国财富管理行业3.0 阶段提供一份独特的"东吴样本"。 行业定位： "注重大局意识，侧重功能性定位，凝聚匠心，着眼细节。"梁纯良概括了东吴证券财富管理的核心定 位 ...

（文章来源：证券日报） 证券日报网讯 12月24日，东吴证券在互动平台回答投资者提问时表示，公司始终坚持合规经营，严格 遵守各项法律法规，坚决维护所有股东，特别是中小股东的合法权益，不存在任何不正当行为。 ...

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601696 中银证券 | | 1.32 亿 | 6.73% | -2104.43万 | -1.07% | -1.11 Z | -5.66% | | 000776 广发证券 | | 8658.78万 | 9.27% | -6750.70万 | -7.23% | -1908.08万 | -2.04% | | 002670 国盛证券 | | 8427.51万 | 14.44% | -3490.00万 | -5.98% | -4937.51万 | -8.46% | | 601555 东吴证券 | | 6172.66万 | 10.64% | -6705.55万 | -11.56% | 532.88万 | 0.92% | | 601377 | 兴业证券 | 5324.91万 | 3.88% | -2264.45万 | -1.65% | -3060.46万 | -2.23% | | ...

截至发稿，佐力药业市值为119亿元。 每经头条（nbdtoutiao）——左手"欠款"右手"豪购"！杨陵江收购"国内酒庄第一股"，1919是否重启上 市？"吹太多牛都实现了，但千亿还没实现，我很着急" （记者 曾健辉） 每经AI快讯，佐力药业（SZ 300181，收盘价：16.98元）发布公告称，2025年12月23日15:00-16:00，佐 力药业接受东吴证券等投资者调研，公司董事、总经理汪涛先生，董事、常务副总经理冯国富先生，董 事会秘书吴英女士参与接待，并回答了投资者提出的问题。 2025年1至6月份，佐力药业的营业收入构成为：医药制造占比78.39%，医药流通占比21.35%，其他业 务占比0.26%。 ...

东吴证券研报指出，天赐材料为电解液行业龙头，六氟涨价弹性显著，布局固态打造第二成长曲线。26 年六氟价格上涨有望持续超预期，公司六氟完全自供，率先锁定下游客户需求，预计电解液出货100万 吨，市占率进一步提升，且六氟涨价公司盈利弹性明显。公司前瞻布局固态电池材料，卡位核心材料硫 化物及硫化物电解质，公司具备技术、研发、生产管理优势，有望复制液体六氟的成本领先技术，打造 第二成长曲线。公司固态电池产业进展稳步推进，行业内技术路线聚焦硫化物，技术趋势逐步收敛，核 心材料为固态电解质锂磷硫氯和其原材料硫化锂，工艺壁垒高，是量产瓶颈之一。此外，公司布局半固 态电解质材料，以及UV胶框材料、MOFs材料等，聚焦固态电池痛点，打造一体化解决方案，远期空间 庞大。考虑26年六氟涨价有望继续超预期，叠加公司固态材料布局领先，给予26年20xPE，目标价63.8 元，维持"买入"评级。 ...

Core Viewpoint - Dongwu Securities report highlights the strong performance of Baba Food's handmade soup dumpling new store model, with continued franchise enthusiasm and traditional stores showing signs of recovery [1] Company Performance - The new store model has been validated by the market, showing significant effectiveness and potential for expansion through franchising [1] - The company is leveraging mergers and acquisitions to support its mid-term goal of reaching 10,000 stores [1] Financial Projections - The company’s net profit forecasts for 2025-2027 are adjusted to 290 million, 330 million, and 400 million yuan respectively, reflecting year-on-year growth of 4%, 13%, and 22% [1] - The price-to-earnings (PE) ratios are projected to be 24, 21, and 18 times for 2025, 2026, and 2027 respectively [1] Investment Recommendation - The company is recommended as a "buy," with a focus on 2026 as a foundational year for the new store model and 2027 expected to see acceleration in growth [1]

12月24日午后，非银金融板块走强，截至13时10分，瑞达期货涨超7%，此前触及涨停，南华期货、华 金资本、中银证券等涨超2%。 | 代码 | 名称 | | 涨幅% 1 | 涨跌 | | --- | --- | --- | --- | --- | | 002961 | 瑞达期货 | 28.51 | 7.38 | 1.96 | | 600599 | *ST熊猫 | 10.36 | 3.50 | 0.35 | | 603093 | 南华期货 | 19.42 | 2.97 | 0.56 | | 000532 华金资本 | | 16.06 | 2.75 | 0.43 | | 601696 中银证券 | | 14.95 | 2.75 | 0.40 | | 600927 永安期货 | | 15.33 | 2.68 | 0.40 | | 600643 | 爱建集团 | 5.40 | 2.27 | 0.12 | | 601688 | 华泰证券 | 23.66 | 1.98 | 0.46 | | 601555 | 东吴证券 | 9.03 | 1.92 | 0.17 | 上证报中国证券网讯 12月24日午后，非银金融板块走强，截 ...