本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 在经历了数月的箱体区间震荡之后，近期，上证指数再次来到箱体区间上沿附近，同时成交量也较往日有所放大。在反复震荡数月之后，投资者 对于指数向上突破期待已久。 那么， 7月份的A股市场行情是否值得期待呢？具体又有哪些板块和个股或有表现的机会呢？ 我们不妨参考下券商的观点和券商金股数据。 （券商金股是各家券商每月精挑细选出来的股票，是各家券商分析师的研究精华，颇受市场的关注。） （ 点此查看券商金股完整名单 ） 0 1 电子、电力设备关注度明显上升！ 展望7月的A股市场， 招商证券 表示， 市场可能会呈现指数突破上行，科技非银等进攻性板块占优的格局 。从基本面的角度来看，财政指数的 发力和消费的韧性，使得科技、消费、中游制造领域均存在业绩边际改善的可能，半年报披露窗口期成为A股有利的上行动力。 东吴证券 表示 ，市场整体进入多头思维，向后看年内沪指有较大可能性突破去年高点，但当 下指数处于3440-3500的筹码密集区，进一步突破 或需以时间换空间， 短期走势大概率偏震荡，以结构性行情为主 。本轮指数突破中，金融是上行突破的助推器，金融股带动指数搭台后 ...

Core Viewpoint - The artificial intelligence (AI) sector is showing strong performance, with the China Securities Artificial Intelligence Industry Index (931071) and related ETFs reflecting positive trends in the market [1][4]. Group 1: Market Performance - As of July 3, 2025, the China Securities Artificial Intelligence Industry Index (931071) increased by 0.70%, with notable gains from stocks such as Xinyisheng (300502) up 2.95% and Shitou Technology (688169) up 2.52% [1]. - The AI ETF (515980) also saw an increase of 0.59%, indicating a positive sentiment in the AI investment space [1]. Group 2: Liquidity and Scale - The AI ETF recorded a turnover of 1.24% during the trading session, with a transaction volume of 43.44 million yuan, and an average daily transaction volume of 172 million yuan over the past week [3]. - The latest scale of the AI ETF reached 3.491 billion yuan, with leveraged funds continuing to invest, as evidenced by a net financing purchase of 16.65 million yuan on the previous trading day [3]. Group 3: Index Composition and Weighting - The China Securities Artificial Intelligence Industry Index is constructed from 50 representative listed companies based on their AI business proportion, growth level, and market capitalization, with the top ten weighted stocks accounting for 52.07% of the index [3]. - The top ten stocks in the index include companies like Zhongke Shuguang (603019) and Keda Xunfei (002230), with varying weightings that reflect their market significance [6]. Group 4: Investment Outlook - Fund manager Gao Zhe suggests that the current A-share market is in a volatile phase, but the AI sector remains a key area of growth, especially as the second quarter earnings reports approach [4]. - The AI industry is viewed as a high-certainty growth area, making it a focal point for investors seeking opportunities amidst market fluctuations [4].

7月1日，Wind最新发布的2025年上半年"中国上市企业市值500强"榜单揭晓。在全国上市企业数量整体 调整的背景下，山东省共有21家A股上市公司登上榜单，其中中际旭创以明显的市值增幅成为一大亮 点。 资本市场稳中有进，结构性亮点频现 2025年上半年，中国上市企业市值500强榜单展现出市场整体的韧性与活力。头部企业保持稳定，腾讯 控股、工商银行、农业银行继续占据市值榜前三名。市值突破万亿元大关的企业数量维持在14家，与一 季度持平，显示出超大型企业的市场主导地位依然稳固。 值得一提的是，农业银行、建设银行、招商银行等金融巨头的排名均有所提升，金融板块表现良好。 根据榜单显示，2025年上半年中国上市企业市值500强中，山东省共有21家A股上市公司上榜。这些上 榜的山东企业涵盖了家电、化工、光通信、装备制造、能源、消费等多个关键领域。 从整体市值水平来看，500强企业的平均市值、中位数市值和最低市值均较一季度有所增长，分别达到 1601亿元、692亿元和355亿元。这表明市场整体价值稳步提升，企业规模效应进一步显现。 上半年共有31家新企业跻身500强榜单，其中不乏影石创新、中策橡胶等新上市公司，以及三生制 ...

Core Viewpoint - The CS Internet of Things Index (CS IoT, 930712) experienced a decline of 1.66%, closing at 2889.9 points, with a trading volume of 43.852 billion yuan, indicating a volatile market environment for IoT-related stocks [1] Group 1: Index Performance - The CS IoT Index has increased by 5.70% over the past month, decreased by 1.97% over the last three months, and has seen a slight increase of 0.23% year-to-date [1] - The index was established on June 29, 2012, with a base point of 1000.0 [1] Group 2: Index Composition - The top ten weighted stocks in the CS IoT Index are: Luxshare Precision (8.64%), Zhongji Xuchuang (6.2%), Huichuan Technology (6.1%), OmniVision Technologies (5.33%), ZTE Corporation (5.18%), Midea Group (4.98%), Haier Smart Home (4.82%), Hikvision (4.78%), iFlytek (4.77%), and Zhaoyi Innovation (4.03%) [1] - The index's holdings are primarily listed on the Shenzhen Stock Exchange (69.63%) and the Shanghai Stock Exchange (30.37%) [1] Group 3: Sector Allocation - The sector allocation of the CS IoT Index includes: Information Technology (63.41%), Communication Services (17.77%), Consumer Discretionary (9.80%), and Industrials (9.02%) [1] Group 4: Index Adjustment and Tracking Funds - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Public funds tracking the CS IoT Index include: E Fund CS IoT Theme Connection A, E Fund CS IoT Theme Connection C, Huaxia CS IoT Theme Connection A, Huaxia CS IoT Theme Connection C, and several ETFs [2]

Core Viewpoint - The steel industry is experiencing a significant price increase due to production cuts driven by environmental regulations and government policies aimed at eliminating outdated capacity. This has led to a reduction in steel output expectations, particularly in Tangshan, where a 30% production cut has been mandated from July 4 to July 15. The market anticipates further impacts on steel production as a result of these measures [1][3]. Group 1: Steel Industry Insights - The recent meeting of the Financial and Economic Committee emphasized the need to push for the elimination of outdated production capacity, directly influencing the steel market [1]. - Tangshan steel mills have received directives for a 30% production cut, which is expected to significantly lower steel inventories and production levels [1]. - The China Iron and Steel Association reported that steel billet exports in the first four months of 2025 have already surpassed the total for 2024, prompting suggestions for export restrictions [1]. - A total of approximately 30 million tons of production cuts have been ordered for the year, coinciding with a seasonal demand lull, which has heightened market expectations for reduced steel output [1]. Group 2: Market Reactions and Trends - Longjiang Securities noted that administrative production cuts could act as a bullish option for the steel sector, particularly in July, which is traditionally a slow season for demand [3]. - The announcement of production cuts in the photovoltaic glass sector has also led to significant price increases in that market, indicating a broader trend of supply-side reforms impacting various sectors [3]. - The steel sector saw a strong rally in stock prices, with companies like Liugang and Chongqing Steel hitting their daily price limits amid these developments [9][10]. Group 3: Broader Economic Context - The overall A-share market experienced a decline, with major indices falling and a significant number of stocks trading lower, reflecting broader economic pressures [9]. - The government is expected to focus on structural adjustments across multiple industries, including steel, refining, and new energy sectors, as part of its economic strategy [7]. Group 4: Investment Trends - Institutional investors have begun to sell off some positions in response to the recent price increases in steel, indicating a cautious approach to the current market dynamics [1][4]. - The market's reaction to production cuts in both the steel and photovoltaic sectors suggests a growing trend towards supply-side management as a means to stabilize prices and manage excess capacity [3].

Group 1 - The core index of the China Securities Industry Chain Index series includes the upstream resource index, midstream manufacturing index, and downstream consumption and service index, providing diversified investment targets for investors [2] - The China Securities Midstream Manufacturing Index has seen a 4.59% increase over the past month, a 0.87% decrease over the past three months, and a 2.73% decline year-to-date [2] - The top ten weighted stocks in the China Securities Midstream Manufacturing Index include CATL (7.5%), Luxshare Precision (1.95%), SMIC (1.94%), BOE Technology Group (1.66%), Northern Huachuang (1.59%), Haiguang Information (1.43%), NewEase (1.41%), Zhongji Xuchuang (1.4%), Huichuan Technology (1.38%), and China State Construction (1.37%) [2] Group 2 - The holdings of the China Securities Midstream Manufacturing Index are distributed with 50.48% on the Shanghai Stock Exchange and 49.52% on the Shenzhen Stock Exchange [2] - The industry composition of the index holdings shows that industrials account for 44.37%, information technology for 37.46%, materials for 8.34%, communication services for 5.70%, and consumer discretionary for 4.15% [2] - The index sample is adjusted biannually, with adjustments implemented on the next trading day after the second Friday of June and December, and can be temporarily adjusted under special circumstances [3]

Core Viewpoint - The AI computing industry continues to show strong performance, with significant gains in related stocks and ETFs, particularly in the context of increasing demand for AI infrastructure and components [1][3][5]. Group 1: Stock Performance - On the last trading day of June, the AI computing sector remained active, with the ChiNext AI ETF achieving a six-day consecutive rise, closing up 2.1% [1]. - Notable stocks such as Zhongji Xuchuang and Tianfu Communication saw significant fluctuations, with Tianfu Communication leading with a rise of over 6% [1]. - The ChiNext AI ETF Huabao (159363) recorded a trading volume of 1.59 billion yuan, indicating strong market interest [1]. Group 2: Monthly Performance - The ChiNext AI ETF Huabao reported a monthly increase of 16.99%, outperforming the ChiNext Index, which rose by 8.02% [6]. - The ETF's performance was significantly better than other AI-themed indices, such as CS AI and Kexin AI [6]. Group 3: Industry Outlook - The investment strategy for July suggests continued high demand for AI computing infrastructure, particularly in light of the upcoming earnings forecast season [3]. - Key sectors to watch include optical modules and copper connection industries, which are expected to benefit from global AI development [3]. - The server manufacturing sector is experiencing robust growth, with Taiwanese AI server manufacturers reporting a year-on-year revenue increase of 162% in May [4]. Group 4: Market Trends - The A-share computing industry is viewed as a rare growth sector, with expectations that the commercialization of AI will enhance its market position [5]. - The report emphasizes the importance of focusing on leading companies in the optical module sector and related fields to capture opportunities in the AI market [5].

Market Overview - The Shanghai Composite Index rose by 0.59% on June 30, with 28 out of the 31 sectors experiencing gains. The top-performing sectors were defense and military industry, and media, with increases of 4.35% and 2.82% respectively. The telecommunications sector ranked third in terms of growth [1] - The non-bank financial, banking, and transportation sectors were the worst performers, with declines of 0.77%, 0.34%, and 0.09% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 1.613 billion yuan across the two markets. However, 10 sectors saw net inflows, with the defense and military industry leading with a net inflow of 3.315 billion yuan, followed by the media sector with a net inflow of 1.441 billion yuan [1] - The non-bank financial sector had the largest net outflow, totaling 2.580 billion yuan, followed by the electronics sector with a net outflow of 2.391 billion yuan. Other sectors with significant outflows included computers, basic chemicals, and home appliances [1] Telecommunications Sector Performance - The telecommunications sector increased by 1.90% today, despite a net outflow of 205 million yuan. Out of 127 stocks in this sector, 97 rose, with 4 hitting the daily limit, while 26 fell, including 2 hitting the lower limit [2] - Within the telecommunications sector, 56 stocks experienced net inflows, with 7 stocks seeing inflows exceeding 100 million yuan. The top stock for net inflow was Dongxin Peace, with an inflow of 620 million yuan, followed by Tianfu Communication and Zhongji Xuchuang with inflows of 180 million yuan and 147 million yuan respectively [2] - The stocks with the highest net outflows included Hengbao Co., Ltd., with an outflow of 743 million yuan, followed by Erli San and Lian Te Technology with outflows of 296 million yuan and 225 million yuan respectively [3]

Market Overview - On June 30, A-shares saw all three major indices rise, with a total market turnover of 1.52 trillion yuan [1] - The aerospace, gaming, and shipbuilding sectors led the gains [1] Fund Flow Analysis - The main funds in the Shanghai and Shenzhen markets experienced a net outflow of 3.995 billion yuan [1] - Among 11 sectors, defense and military industry and media sectors saw the highest net inflows of 1.727 billion yuan and 1.212 billion yuan, respectively [1] - Other sectors with net inflows exceeding 100 million yuan included non-ferrous metals, retail, banking, and transportation [1] Individual Stock Performance - A total of 63 stocks saw net inflows exceeding 100 million yuan, with 10 stocks receiving over 300 million yuan [1] - Chengfei Integration received a net inflow of 693 million yuan, closing at the daily limit [1] - Dongxin Peace saw a net inflow of 540 million yuan, with digital currency concept stocks remaining active [2] Stocks with Significant Net Inflows - The top stocks with net inflows included: - Chengfei Integration: 693 million yuan, +10.00% [3] - Dongxin Peace: 540 million yuan, +10.03% [3] - Rongfa Nuclear Power: 513 million yuan, +7.46% [3] - Morningstar Aviation: 508 million yuan, +19.99% [3] - Zhongbing Hongjian: 456 million yuan, +10.00% [3] Stocks with Significant Net Outflows - 56 stocks experienced net outflows exceeding 100 million yuan, with 7 stocks seeing outflows over 300 million yuan [4] - The top stocks with net outflows included: - Hengbao Co.: 774 million yuan, +3.97% [5] - Dongfang Fortune: 562 million yuan, +0.39% [5] - BYD: 536 million yuan, -0.70% [5] - Shenzhen Huachuang: 402 million yuan, -2.29% [5] - Jin Yi Culture: 332 million yuan, +2.67% [5] End-of-Day Fund Flow - At the end of the day, the main funds saw a net inflow of 1.266 billion yuan, with communication, defense, non-ferrous metals, and pharmaceutical sectors receiving significant inflows [6] - Individual stocks with notable end-of-day inflows included: - Tianfu Communication: 269 million yuan [7] - Sifang Precision: 150 million yuan [7] - Zhongji Xuchuang: 105 million yuan [7] End-of-Day Net Outflows - Notable end-of-day net outflows included: - BYD: 640 million yuan [8] - Changjiang Electric: 622 million yuan [8] - Kweichow Moutai: 544 million yuan [8]

6月30日，沪深两市全天成交额合计14868.84亿元，较上一日缩量542.33亿元。其中，沪市成交额为 5671.37亿元（上一交易日为6057.32亿元），成交量为4.57亿手（上一交易日为5.23亿手）；深市成交额 为9197.47亿元（上一交易日为9353.85亿元），成交量为6.77亿手（上一交易日为6.99亿手）。中际旭创 成交额居首，为107.41亿元。其次是东方财富、天风证券、新易盛、四方精创，成交额分别为102.01亿 元、78.23亿元、74.53亿元、72.24亿元。 沪深两市今日成交额合计14868.84亿元，中际旭创成交额居首 ...