证券时报·数据宝统计显示，涨停个股中，主板有95只，北交所6只，创业板10只，科创板3只。以所属 行业来看，上榜个股居前的行业有机械设备、基础化工、建筑装饰行业，上榜个股分别有24只、16只、 16只。 截至收盘，上证指数报收3581.86点，上涨0.62%；深证成指收于11099.83点，上涨0.84%；创业板指上 涨0.61%；科创50指数上涨0.83%。 不含当日上市新股，今日可交易A股中，上涨个股有2540只，占比47.02%，下跌个股有2724只，平盘个 股138只。其中，收盘股价涨停的有114只，跌停股有11只。 两市涨停股一览 | 代码 | 简称 | 收盘价（元） | 换手率（%） | 涨停板封单（万股） | 封单资金（万元） | 行业 | | --- | --- | --- | --- | --- | --- | --- | | 601669 | 中国电建 | 6.15 | 0.95 | 86262.78 | 530516.12 | 建筑装饰 | | 600326 | 西藏天路 | 11.59 | 0.52 | 31247.11 | 362153.96 | 建筑材料 | | 601868 | ...

Group 1 - The cement sector experienced a rise of 4.58%, ranking third among concept sectors, with 33 stocks increasing in value, including China Energy Engineering, Wan Nian Qing, and Jidong Equipment reaching the daily limit [1] - Notable gainers included Sichuan Shuangma, Qingsong Jianhua, and Jidong Cement, which rose by 8.44%, 8.43%, and 6.67% respectively [1] - The sector saw a net outflow of 1.16 billion yuan in principal funds, with 16 stocks receiving net inflows, and 6 stocks attracting over 30 million yuan in net inflows [1] Group 2 - Tianshan Co., Jidong Equipment, and China Energy Engineering led the net inflow of principal funds, with net inflows of 116 million yuan, 111 million yuan, and 82.8 million yuan respectively [1] - The top three stocks by net inflow ratio were Huaxin Cement, Tianshan Co., and Tibet Tianlu, with net inflow ratios of 65.93%, 29.47%, and 28.22% respectively [2] - The trading volume for Tianshan Co. was 115.9 million yuan, with a daily increase of 9.98%, while Jidong Equipment saw a 10.02% increase with a trading volume of 111.1 million yuan [2][3]

Market Overview - A-shares experienced a strong rebound today, with all three major indices reaching new highs for the year [1] - The Shanghai Composite Index rose by 0.62%, marking its fifth consecutive day of gains, while the Shenzhen Component increased by 0.84% and the ChiNext Index rose by 0.61% [2] - Total market turnover was approximately 1.93 trillion yuan, an increase of 201.5 billion yuan compared to the previous trading day [2] Sector Performance - The infrastructure construction sector remains hot, with significant gains in engineering machinery, civil explosives, and coal mining and processing sectors [4] - Multiple stocks in the "Chinese state-owned enterprises" category saw a surge, with companies like China Energy Engineering, China Railway Industry, and China Tungsten High-Tech hitting the daily limit [4] Engineering Machinery Sector - The engineering machinery sector led the market, with several stocks hitting the daily limit, including Wuxin Tunnel Equipment, Iron Tuo Machinery, and Hengli Drilling Tools [10] - Notable performers included: - Wuxin Tunnel Equipment: +29.99%, 5-day increase of 95.18% [11] - Iron Tuo Machinery: +29.99%, 5-day increase of 68.98% [11] - Hengli Aluminum: +29.97%, 5-day increase of 67.05% [11] - The China Construction Machinery Industry Association reported that excavator sales reached 120,520 units in the first half of 2025, a year-on-year increase of 16.8%, with exports up by 10.2% [12] - The demand for engineering machinery is expected to continue to recover, supported by positive macro policies and increased infrastructure investment [12] Coal Sector - The coal sector saw significant gains in the afternoon, with stocks like Shanxi Coking Coal, Haohua Energy, and Shanmei International hitting the daily limit [14] - Key performers included: - Shanxi Coking Coal: +10.07%, 5-day increase of 17.08% [15] - Haohua Energy: +10.06%, 5-day increase of 14.04% [15] - Shanmei International: +10.04%, 5-day increase of 13.77% [15] - The "double焦" futures contracts also surged, with coking coal futures reaching 1,048.5 yuan/ton and coke futures at 1,697 yuan/ton [16] - Expectations for supportive policies in the coal industry are increasing, which may help reverse the sector's challenges [17]

中国能建（601868）今日涨停，成交额8.01亿元，换手率0.88%，盘后龙虎榜数据显示，沪股通专用席 位卖出5079.35万元，有2家机构专用席位净卖出4711.48万元。 ...

Market Performance - A-shares experienced a strong upward trend on July 22, with all three major indices reaching new highs for the year. The Shanghai Composite Index closed at 3581.86 points, up 0.62%, with a trading volume of 840.6 billion yuan. The Shenzhen Component Index closed at 11099.83 points, up 0.84%, with a trading volume of 1052.5 billion yuan. The ChiNext Index closed at 2310.86 points, up 0.61%, with a trading volume of 481.3 billion yuan. The total trading volume for both markets was 1.89 trillion yuan, an increase of 193.1 billion yuan from the previous trading day [1]. Sector Performance - Most industry sectors saw gains, with engineering machinery, coal, cement and building materials, steel, engineering consulting services, engineering construction, energy metals, and precious metals leading the way. Conversely, packaging materials, gaming, and banking sectors experienced declines [1]. Fund Flow and Investor Sentiment - The A-share market is witnessing a significant improvement in liquidity, with a notable increase in the financing balance, which rose by over 15 billion yuan, marking the highest increase since March 6. The total financing balance reached 1.904566 trillion yuan, with the Shanghai Stock Exchange reporting 959.609 billion yuan and the Shenzhen Stock Exchange reporting 938.876 billion yuan [5]. - The market's risk appetite has increased, with many institutions expressing optimism about future performance. The shift in investor sentiment is attributed to several factors, including the low valuation of "anti-involution" sectors and strong financial data from June, which supports mid-term profit expectations [5][6]. Institutional Insights - Multiple institutions, including Zhongjin Company, have noted that the A-share market is undergoing structural differentiation, with new sectors showing strong capital support. The focus is shifting towards technology and consumer sectors, which are gaining attention from foreign investors [6]. - The insurance capital allocation in A-shares is expected to increase from approximately 11% to 15% or higher over the next two to three years, with an annual net increase in allocation potentially reaching 300 to 500 billion yuan [3]. Regulatory Developments - The Ministry of Human Resources and Social Security is set to advance reforms in pension insurance, including national coordination and delayed retirement age, which may positively impact the market by enhancing fund management and investment capabilities [2].

Core Viewpoint - The A-share market has shown strong performance recently, with significant gains in the coal sector following a favorable policy announcement aimed at stabilizing coal supply [2][3]. Group 1: Market Performance - On July 22, a favorable policy was announced, leading to a surge in the coal sector, with many stocks hitting the daily limit [3]. - The market experienced fluctuations but ultimately closed higher, with the Shanghai Composite Index rising by 0.62%, the Shenzhen Component by 0.84%, and the ChiNext by 0.61% [9]. - A total of 2,540 stocks rose, with 112 stocks hitting the daily limit, while 2,724 stocks declined [10][11]. Group 2: Policy Impact - The newly introduced "anti-involution" policy aims to regulate coal production, mandating that annual coal output does not exceed announced capacity and monthly output does not exceed 10% of the announced capacity [3]. - This policy is likened to previous supply-side reforms, which significantly influenced coal prices and market performance [7]. - Historical data shows that coal prices have dropped from a peak of 1,202 CNY/ton in 2021 to 658 CNY/ton, a decrease of 45.3% [7]. Group 3: Sector Analysis - Analysts from Zheshang Securities suggest that the "anti-involution" policy could reverse the coal industry's challenges, similar to past supply-side reforms that led to significant price recoveries [7]. - Long-term coal price improvements are anticipated if demand-side improvements follow, particularly with potential interest rate cuts and domestic stimulus [8]. - The demand for coking coal is expected to rise due to high steel mill profits, which are correlated with increased production and operational rates [8].

Market Overview - The market showed an overall upward trend with the Shanghai Composite Index achieving a five-day winning streak and increased trading volume [1] - The coal sector experienced a sudden surge, with stocks like Shanxi Coking Coal and Shanmei International hitting the daily limit, driven by a notice from the National Energy Administration regarding coal mine production inspections [1][4] - Other sectors such as hydropower, civil explosives, engineering machinery, cement, and steel also saw significant gains, with leading companies like China Power Construction and China Energy Construction achieving consecutive gains [1] Stock Performance - A total of 2,540 stocks rose while 2,724 declined, with 114 stocks hitting the daily limit and 11 stocks hitting the lower limit [2] - High-profile stock Weiqi New Materials achieved a record of 10 consecutive daily limits, with a cumulative increase of over 519% [1] Fund Flow - Main capital inflows were observed in coal mining, liquor, battery, photovoltaic equipment, and energy metals sectors [3] - Conversely, there were capital outflows from IT services, automotive parts, software development, general equipment, and diversified finance sectors [3] Policy and Regulatory Updates - The National Energy Administration announced a crackdown on coal mines exceeding production capacity to stabilize coal supply and market order [4] - Shenzhen is expected to see reforms that will allow companies listed in Hong Kong to return to the Shenzhen Stock Exchange [5] Market Outlook - China Galaxy expressed optimism about the market, indicating that the Shanghai Composite Index is likely to maintain above 3,500 points, suggesting a potential upward trend [2][7] - Long-term expectations for the coal sector remain positive, with anticipated strong coal prices and a peak demand season approaching [8] - Huazhong Securities forecasted that the technology sector will continue to perform strongly, supported by macroeconomic policies aimed at stabilizing the economy [9]

Group 1 - The core viewpoint is that the A-share market is experiencing a significant increase in risk appetite, with the CSI A500 Index rising over 6% in the past month, leading to a recovery in the net asset values of related ETFs [1][2] - The CSI A500 ETF (560510) has seen a 0.50% increase, marking its fourth consecutive rise, with a trading volume of 175 million yuan and a turnover rate of 3.35% [1] - Major constituent stocks of the CSI A500 Index, such as China Energy Engineering and Tunnel Engineering, have experienced substantial gains, with increases exceeding 10% [1] Group 2 - According to Shenwan Hongyuan Securities, the economic growth rate in the second half of 2025 may decline compared to the first half, but the A-share market remains strong due to stable capital market expectations and a controlled risk outlook [2] - The market is expected to break upward in Q4 2025, supported by improved supply-demand dynamics and a rebound in net profit growth for A-shares in 2026 [2] - The CSI A500 ETF serves as a differentiated investment tool for investors looking to capitalize on the "big and beautiful" A-share market [3]

Group 1 - The China Infrastructure Engineering Index (399995) has seen a strong increase of 4.24%, with constituent stocks such as China Energy Engineering (601868), Tunnel Co. (600820), and China Power Construction (601669) hitting the 10% daily limit up [1] - The Infrastructure 50 ETF (516970) has risen by 5.05%, marking its fourth consecutive increase, with a trading volume of 7.32 billion yuan and a turnover rate of 23.73% [1] - As of July 21, the Infrastructure 50 ETF has achieved a net inflow of 5.98 billion yuan, with its latest scale reaching 2.978 billion yuan, a six-month high [1] Group 2 - The Infrastructure 50 ETF closely tracks the China Infrastructure Engineering Index, which includes listed companies in the construction and engineering sectors, reflecting the overall performance of these companies [2] - The top ten weighted stocks in the China Infrastructure Engineering Index account for 61.81% of the index, with major companies including China State Construction (601668) and China Railway (601390) [2] - The commencement of the Yarlung Tsangpo River downstream hydropower project, with a total investment of approximately 1.2 trillion yuan, is expected to boost demand for construction materials and services in the hydropower sector [2] Group 3 - In the first half of the year, infrastructure investment in China grew by 4.6%, outpacing overall investment growth by 1.8 percentage points, contributing to a 1.0 percentage point increase in total investment [3] - The ongoing construction of major regional projects is anticipated to further stimulate infrastructure investment growth in China [3] - Investors can access the infrastructure sector through various off-market connection products linked to the Infrastructure 50 ETF [3]

Market Overview - The A-share market showed slight gains with the Shanghai Composite Index up 0.25% to 3568.78 points, the Shenzhen Component Index up 0.56% to 11069.57 points, and the ChiNext Index up 0.69% to 2312.74 points [1] - The total trading volume in the Shanghai and Shenzhen markets exceeded 1.14 trillion yuan, an increase of 513 billion yuan compared to the previous trading day [3] Sector Performance - The infrastructure sector experienced a significant rally, with key sectors such as precious metals and construction leading the gains in A-shares [3] - The concept stocks related to the Yajiang Hydropower Station and water conservancy construction continued to perform strongly, with notable increases in stock prices [4][5] - Steel stocks also saw widespread gains, with companies like Xining Special Steel and Yinlong Co. hitting the daily limit [10] Notable Stocks - Yajiang Hydropower Station concept stocks surged, with Wuxin Tunnel Equipment hitting a 30% limit up for two consecutive trading days, bringing its market capitalization to over 7.4 billion yuan [5][7] - Semiconductor company SMIC saw a 3.28% increase in its stock price, leading the Hang Seng Index constituents [9] - Other notable gainers included Iron Construction Heavy Industry and Zhukang Design, both of which saw their stock prices rise by over 20% [13] Policy and Regulatory Updates - The Ministry of Human Resources and Social Security announced plans to advance national coordination of pension insurance and reform measures related to personal pension policies [14]