从资金流向上来看，当日专业工程板块主力资金净流出446.36万元，游资资金净流出1271.53万元，散户 资金净流入1717.89万元。专业工程板块个股资金流向见下表： | 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 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 600477 | 杭萧钢构 | | -9636.31万 | 14.13% | -2707.07万 | -3.97% | -6929.24万 | -10.16% | | 300986 志特新材 | | | 5146.77万 | 19.94% | -696.55万 | -2.70% | -4450.22万 | -17.24% | | 603929 亚翔集成 | | | 5132.91万 | 6.44% | 1430.89万 | 1.79% | -6563.80万 | -8.23% | | 601133 柏诚股份 | | | 2143.09万 | 7.32% | -419.13万 | -1.4 ...

Investment Rating - The report maintains an investment rating of "Leading the Market - A" for the construction industry, indicating an expected return that will outperform the CSI 300 index by 10% or more over the next six months [6]. Core Insights - The 2026 fiscal policy is set to remain proactive, with a focus on increasing fiscal spending and optimizing government bond tools to enhance local financial capabilities. This is expected to support economic growth and improve the construction industry's operational conditions [18][11]. - Infrastructure investment has shown signs of recovery, with November data indicating a month-on-month improvement. The construction sector is anticipated to stabilize as policies aimed at debt reduction and "anti-involution" continue to be implemented [2][11]. - The demand for cleanroom construction is expected to rise due to increased capital expenditures in the semiconductor and cloud service sectors, driven by rapid advancements in AI technology [3][15]. Summary by Sections Industry Dynamics - The national fiscal work conference highlighted the achievements of 2025 and outlined the key tasks for 2026, emphasizing a more active fiscal policy to stimulate consumption and manage risks in key areas [18]. - The construction industry is expected to benefit from a combination of improved fiscal policies and a recovering investment environment, leading to marginal improvements in operational performance [2][11]. Market Performance - The construction industry saw a weekly increase of 2.26%, outperforming the CSI 300 index, with the decoration and renovation sector showing the highest growth at 11.37% [20][21]. - The overall industry valuation metrics indicate a TTM P/E ratio of 12.47 and a P/B ratio of 0.83, with several companies showing low valuations, suggesting potential investment opportunities [24][28]. Key Companies to Watch - Recommended companies include low-valuation state-owned enterprises such as China State Construction, China Communications Construction, and China Railway Construction, which are expected to benefit from improved cash flow and profitability [11][13]. - Cleanroom engineering leaders like Yaxin Integration and Shenghui Integration are highlighted for their potential growth due to increasing demand in the semiconductor sector [3][15].

| 名称 | 涨跌幅 | 龙虎榜净买 | 净买额占 | 换手率 | | | --- | --- | --- | --- | --- | --- | | | | 额(万元 | 总成交比 | | | | 航天发展 | 10% | 114148 | 13.55% | 18.93% | 3家机构买入,成功 | | | | | | | 率50.22% | | 北斗星通 | 9.99% | 45761 | 9.66% | 25.91% | 2家机构买入,成功 | | | | | | | 率47.36% | | 优刻得 | 19.99% | 40792 | 14.29% | 24.63% | 上海资金买入,成功 | | | | | | | 率39.91% | | 德明利 | 10% | 34709 | 5.61% | 16.36% | 3家机构买入,成功 | | | | | | | 率43.63% | | 天通股份 | 10% | 34251 | 8.36% | 24.88% | 上海资金买入,成功 | | | | | | | 率54.38% | | 通宇通讯 | 10.01% | 21000 | 4.61% | 34.1 ...

盘后数据显示，12月26日龙虎榜中，共47只个股出现了机构的身影，27只股票呈现机构净买入，20只股票呈现机构净卖 出。 当天机构净买入前三的股票分别是航天发展、德明利、中国卫星，净买入金额分别是4.82亿元、2.05亿元、2亿元。 当天机构净卖出前三的股票分别是亚翔集成、天际股份、圣晖集成，净流出金额分别是2.47亿元、1.37亿元、1.28亿元。 | | 龙虎榜 12.26 | -12 | | --- | --- | --- | | 证券简称 | 目涨跌幅 | 机构净买入 (万元) | | 航天发展 | 10.00% | 48176.53 | | 德明利 | 10.00% | 20503.64 | | 中国卫星 | 10.00% | 20019.80 | | 浙江世宇 | 9.99% | 16647.18 | | 航天电子 | 4.62% | 14973.18 | | 广联航空 | 12.37% | 13207.29 | | 楚环科技 | -3.97% | -2948.23 | | --- | --- | --- | | 标榜股份 | 20.01% | -3579.08 | | 海欣食品 | -6.88% ...

资金流向方面，今日该股主力资金净流入5152.41万元，其中，特大单净流入8678.40万元，大单资金净 流出3525.99万元。近5日主力资金净流出7848.46万元。 10月31日公司发布的三季报数据显示，前三季度公司共实现营业收入31.09亿元，同比下降29.63%，实 现净利润4.42亿元，同比增长0.78%。（数据宝） 亚翔集成12月26日交易公开信息 亚翔集成(603929)今日下跌5.09%，全天换手率7.53%，成交额17.58亿元，振幅16.60%。龙虎榜数据显 示，机构净卖出2.47亿元，营业部席位合计净买入1983.09万元。 上交所公开信息显示，当日该股因日振幅值达16.60%上榜，机构专用席位净卖出2.47亿元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交5.13亿元，其中，买入成交额为1.43亿 元，卖出成交额为3.70亿元，合计净卖出2.27亿元。 具体来看，今日上榜的营业部中，共有1家机构专用席位现身，即卖一，合计净卖出2.47亿元。 近半年该股累计上榜龙虎榜5次，上榜次日股价平均涨0.22%，上榜后5日平均跌0.33%。 | 买/ | 会员营业部名称 | 买入金 ...

Investment Rating - The investment rating for the cleanroom engineering sector is "Outperform the Market" (maintained) [2][3]. Core Insights - The cleanroom engineering sector is becoming a key focus in AI infrastructure as capital expenditures shift towards engineering investments, with cleanroom projects representing a significant portion of this trend [5][6]. - Major companies in the cleanroom sector, such as Yaxiang Integration and Shenghui Integration, are positioned to benefit from the increasing demand for cleanroom construction driven by the urgent expansion needs of leading firms like Micron [5][28]. - The cleanroom engineering segment is critical for the AI computing industry, accounting for approximately 60% of engineering investments related to chip production [16][18]. Summary by Sections Market Performance - From December to the present, major cleanroom sector stocks have seen significant increases, with Yaxiang Integration rising by 74%, Shenghui Integration by 60%, and Meiyai Technology by 52% [4]. Industry Dynamics - The cleanroom engineering industry is experiencing explosive growth in demand due to the global AI capacity expansion, which is currently constrained by limited construction capabilities [22][23]. - The complexity and customization of cleanroom projects create high entry barriers, resulting in strong customer loyalty and long-term relationships between clients and engineering service providers [25][27]. Future Outlook - As AI infrastructure transitions from procurement to construction, the proportion of capital expenditure directed towards engineering will significantly increase, making cleanroom engineering a central component of this evolution [6][28]. - The cleanroom engineering market is expected to continue its upward trajectory, driven by the urgent needs of major clients and the limited supply of qualified engineering resources [23][28].

龙虎榜数据显示，该股因连续三个交易日内，涨幅偏离值累计达20%上榜龙虎榜1次，买卖居前营业部 中，机构净卖出1.27亿元，沪股通累计净买入4002.16万元，营业部席位合计净买入1.08亿元。 据天眼查APP显示，亚翔系统集成科技(苏州)股份有限公司成立于2002年02月28日，注册资本21336万人 民币。（数据宝） 近日该股表现 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.12.25 | -1.20 | 4.85 | -3719.39 | | 2025.12.24 | -0.94 | 6.84 | -18252.93 | | 2025.12.23 | 10.00 | 3.82 | 2284.31 | | 2025.12.22 | 10.00 | 2.71 | 6687.13 | | 2025.12.19 | -5.11 | 2.60 | -1917.43 | | 2025.12.18 | 4.79 | 3.06 | 2185.07 | | 2025.12.17 | -2.68 | 2.49 | -277 ...

Core Insights - The report highlights a significant decline in fixed asset investment (FAI) in 2025, with infrastructure investment becoming a drag on the economy, prompting the economic work conference to emphasize "investment stabilization" [2][9] - Looking ahead to 2026, the report suggests that "active fiscal policies" will drive investment stabilization, with a focus on structural opportunities in the construction sector, including western infrastructure, overseas engineering, and new infrastructure [2][9] Group 1: Economic Overview - In 2025, FAI experienced a comprehensive decline, with infrastructure investment significantly dropping, particularly in the third quarter, where narrow infrastructure investment turned negative, declining by 8.7% in October [23][28] - The report notes that the actual situation of infrastructure investment may have deteriorated earlier than expected in 2024, despite apparent growth in infrastructure investment [30][34] Group 2: Structural Opportunities - The report emphasizes the importance of structural opportunities in the construction sector, particularly in western infrastructure projects, overseas engineering, and new infrastructure driven by technological advancements [45][46] - Specific recommendations include focusing on high-dividend leading companies in western regions, such as Sichuan Road and Bridge, and exploring opportunities in Xinjiang and Tibet [9][10] Group 3: Overseas Engineering - The report indicates that overseas engineering demand remains strong, driven by favorable client structures and business models of central enterprises, as well as private enterprises expanding into international markets [10][11] - Key recommendations for overseas engineering include companies like China National Materials, Jianghe Group, and Jinggong Steel Structure, which are expected to perform well in terms of earnings and dividends [10][11] Group 4: New Infrastructure - The report identifies several sectors within new infrastructure that are expected to see growth, including clean rooms, commercial aerospace, nuclear power, and low-altitude economy, driven by technological advancements and safety demands [10][11] - Specific companies recommended in these sectors include Yaxiang Integration for clean rooms and China Nuclear Engineering for nuclear power projects [10][11] Group 5: Traditional Demand - The report notes that traditional demand, particularly in real estate, remains under pressure, with new and second-hand housing demand still facing challenges [11] - It highlights the potential turning point for companies like Honglu Steel Structure, which may benefit from improved cyclical sentiment and operational efficiency [11] Group 6: Reform and Restructuring - The report discusses the need for deep reforms in the construction sector to enhance global competitiveness, focusing on identifying quality assets and new business opportunities for central enterprises [12][12] - It also emphasizes the importance of market value management and the potential for mergers and acquisitions in the construction industry [12][12]

另外，公司于2025年9月2日披露了股东EVER CREATIVE减持股份计划公告。减持期间：2025年9月23日～2025年12月22日，EVER CREATIVE于2025年12月 11日减持41.4万股，敬请广大投资者注意股东减持风险。 格隆汇12月25日｜昨日创新高的亚翔集成(603929.SH)跌超4%，该股年内累计涨幅超3倍，现报102.8元，总市值219亿元。 消息上，亚翔集成公布股票交易异常波动公告，当前公司股票价格短期涨幅较大，存在市场情绪过热、非理性炒作风险，敬请广大投资者注意二级市场交易 风险，理性决策，审慎投资。 ...

据天眼查APP显示，亚翔系统集成科技(苏州)股份有限公司成立于2002年02月28日，注册资本21336万人 民币。（数据宝） 数据宝统计，截至10:52，亚翔集成成交额10.21亿元，创2023年11月14日以来新高。最新股价下跌 1.01%，换手率4.31%。上一交易日该股全天成交额为8.75亿元。 （文章来源：证券时报网） ...