据iFind统计，截至8月15日，沪深两市共有163只个股连续5日或5日以上获融资净买入。连续获融资净 买入天数最多的股票是惠城环保，已连续25个交易日获净买入；连续获融资净买入天数较多的还有华曙 高科、景嘉微、凯盛新材、淳中科技、涪陵电力、诺瓦星云、博威合金、振华风光、美埃科技、华仁药 业等股，分别获14个、13个、12个、10个、10个、10个、10个、9个、9个、9个交易日净买入。 （文章来源：证券时报网） ...

Core Insights - The military electronics sector experienced a rise of 1.05% on August 15, with Zhenxin Technology leading the gains [1] - The Shanghai Composite Index closed at 3696.77, up 0.83%, while the Shenzhen Component Index closed at 11634.67, up 1.6% [1] Stock Performance - Zhenxin Technology (300101) closed at 25.47, with a gain of 5.12% and a trading volume of 249,000 shares, amounting to a transaction value of 631 million yuan [1] - Other notable performers included: - ST Aowei (002231) at 4.19, up 5.01% [1] - Aopu Optoelectronics (002338) at 53.00, up 4.62% [1] - Kahn Technology (688788) at 81.25, up 4.03% [1] - Jingjia Micro (300474) at 87.77, up 3.99% [1] Fund Flow Analysis - The military electronics sector saw a net outflow of 598 million yuan from institutional investors, while retail investors contributed a net inflow of 845 million yuan [2][3] - Key stocks with significant fund flows included: - Jingjia Micro (300474) with a net inflow of 173 million yuan from institutional investors [3] - Zhonghang Optoelectronics (002179) with a net inflow of 69.84 million yuan from institutional investors [3] - Zhenxin Technology (300101) with a net inflow of 30.27 million yuan from institutional investors [3]

Core Insights - As of August 14, a total of 132 stocks in the Shanghai and Shenzhen markets have experienced net inflows from financing for five consecutive days or more [1] - The stock with the longest consecutive net inflow is Huicheng Environmental Protection, which has seen net buying for 24 trading days [1] - Other notable stocks with significant consecutive net inflows include Huazhu Gaoke (13 days), Jingjia Micro (12 days), Kaisheng New Materials (11 days), and several others with 9 to 10 days of net buying [1] Summary by Category - **Stocks with Longest Net Inflows** - Huicheng Environmental Protection: 24 consecutive trading days of net inflow [1] - Huazhu Gaoke: 13 consecutive trading days of net inflow [1] - Jingjia Micro: 12 consecutive trading days of net inflow [1] - Kaisheng New Materials: 11 consecutive trading days of net inflow [1] - **Other Stocks with Notable Net Inflows** - Electric Investment and Financing: 10 consecutive trading days of net inflow [1] - Chuzhong Technology: 9 consecutive trading days of net inflow [1] - Fuling Electric Power: 9 consecutive trading days of net inflow [1] - Nova Star Cloud: 9 consecutive trading days of net inflow [1] - Yangmei Chemical: 9 consecutive trading days of net inflow [1]

（文章来源：证券时报网） 据统计，截至8月13日，沪深两市共有135只个股连续5日或5日以上获融资净买入。连续获融资净买入天 数最多的股票是惠城环保，已连续23个交易日获净买入；连续获融资净买入天数较多的还有探路者、华 曙高科、景嘉微、凯盛新材、安井食品、鑫宏业、天保基建、依米康、电投产融等股，分别获14个、12 个、11个、10个、10个、9个、9个、9个、9个交易日净买入。 ...

Group 1 - A total of 141 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more as of August 12 [1] - The stock with the longest consecutive net inflow is Huicheng Environmental Protection, which has seen net inflows for 22 trading days [1] - Other notable stocks with significant consecutive net inflows include Taijing Technology, Tanshan, Hengsheng Electronics, Huashu High-Tech, Jingjia Micro, Anji Food, Kaisheng New Materials, Electric Investment Production and Finance, Daoshi Technology, and Diweier, each with 13, 13, 13, 11, 10, 9, 9, 8, 8, and 8 trading days of net inflows respectively [1]

Core Viewpoint - The report from Haitong International highlights that Jingjia Micro is maintaining high R&D investment to pursue technological leadership, with a focus on GPU development and applications in artificial intelligence [1] Group 1: R&D and Product Development - Jingjia Micro continues to invest heavily in R&D, aiming for technological advancement and innovation [1] - The company has developed the Jinghong GPU and the JM11 graphics card, establishing a dual-line product strategy [1] - The internal management system transformation is driving innovation within the company [1] Group 2: Market Outlook and Financial Projections - The company is optimistic about the future of GPUs, particularly in the AI sector, and is committed to advancing from "specialized" to "specialized + general-purpose" strategies [1] - Successful development of high-performance intelligent computing modules and systems fills product gaps in AI training, inference, and scientific computing [1] - Due to downstream demand fluctuations and high R&D investments, the company's performance has been volatile, but it is expected to gradually recover driven by AI and new infrastructure [1] - EPS forecasts for 2025-2027 are projected at 0.06, 0.20, and 0.39 yuan respectively, with a target price of 86.50 yuan, reflecting a premium over the average [1]

Core Viewpoint - Haitong International has issued a report on August 7, giving a rating to Jingjia Micro (300474.SZ) with a target price of 86.50 CNY, highlighting the company's strong R&D investment and innovative management practices [1] Group 1: Company Performance - The company maintains high R&D investment to pursue technological leadership [1] - Jingjia Micro has a dual product line strategy with its Jinghong GPU and JM11 graphics card [1] - Internal management system reforms are driving innovation within the company [1] Group 2: Risks - Potential risks include product iterations not meeting expectations [1] - Downstream demand may fall short of projections [1]

Investment Rating - Maintain Outperform rating with a target price of RMB 86.50 [5][10] Core Views - The company is experiencing performance fluctuations due to downstream demand and high R&D investment, but is expected to recover driven by AI and information innovation [10] - EPS forecast for 2025-2027 is RMB 0.06, 0.20, and 0.39 respectively, with a premium applied above average value, resulting in a 65x PS for 2025 [5][10] - Revenue for 2024 is projected at RMB 466 million, a year-on-year decrease of 34.62%, with a net profit attributable to shareholders of -RMB 165 million, a year-on-year decrease of 376.67% [10] Financial Summary - Total revenue for 2023 is RMB 713 million, with a projected decline to RMB 466 million in 2024, followed by recovery to RMB 695 million in 2025, RMB 935 million in 2026, and RMB 1,220 million in 2027 [4] - Net profit attributable to shareholders is expected to be -RMB 165 million in 2024, recovering to RMB 32 million in 2025, RMB 106 million in 2026, and RMB 205 million in 2027 [4] - R&D investment remains high, accounting for 68.17% of revenue in Q1 2025, with a total investment of RMB 70 million [10] Product Development and Strategy - The company is transitioning from specialized to general-purpose GPUs, focusing on AI applications and developing high-performance GPUs, modules, and systems [10] - Successfully developed the Jinghong series high-performance intelligent computing modules and systems, filling product gaps in AI training, inference, and scientific computing [10] - The JM11 series graphics processing chips are designed for cloud applications and high-performance rendering needs, currently in the promotion stage [10] Management and Innovation - Comprehensive management reform is being implemented to optimize business processes and improve product development efficiency and quality [10] - The company is adopting a low-cost strategy through lean management, process optimization, and technology upgrades to drive product innovation and reduce operating costs [10] - Continuous focus on building organizational capabilities and enhancing management leadership and execution through systematic training [10]

（文章来源：证券时报网） Wind统计显示，8月5日，申万31个一级行业中有19个行业获融资净买入，其中，电子行业获融资净买 入额居首，当日净买入17.87亿元；获融资净买入居前的行业还有医药生物、电力设备、机械设备、计 算机、国防军工、化工等，净买入金额分别为17.2亿元、8.78亿元、8.57亿元、8.17亿元、6.72亿元、 5.95亿元。 个股方面，8月5日有1927只个股获融资净买入，净买入金额在3000万元以上的有161股。其中，13股获 融资净买入额超1亿元。胜宏科技获融资净买入额居首，净买入5.05亿元；融资净买入金额居前的还有 宁德时代、指南针、工业富联、药明康德、光迅科技、TCL科技、张江高科、景嘉微等，净买入额分别 为3.63亿元、1.92亿元、1.58亿元、1.39亿元、1.3亿元、1.28亿元、1.25亿元、1.15亿元。 ...

8月5日，上证指数早盘高开高走，午后持续上扬，再度站上3600点；深证成指早盘冲高回落，午后震荡 上扬；创业板指早盘冲高回落，午后探底回升；科创50指数早盘窄幅震荡，午后震荡回升。截至收盘， 上证指数报3617.60点，涨0.96%，成交额6563.83亿元；深证成指报11106.96点，涨0.59%，成交额 9396.98亿元；创业板指报2343.38点，涨0.39%，成交额4784.81亿元；科创50指数报1053.65点，涨 0.4%，成交额268.02亿元。沪深两市合计成交15960.81亿元，成交额较上一交易日增加975.3亿元。 银行、保险等行业走强 *ST亚振5连板 盘面上来看，行业板块、概念涨多跌少。其中，银行、保险、钢铁、传媒、通信、证券、汽车、房地产 等行业涨幅靠前；PEEK材料、铜缆高速连接、人脑工程、空间站、3D玻璃、复合集流体、液冷、轮毂 电机、汽车热管理等概念走势活跃。玻璃玻纤、珠宝首饰、生物制品等行业跌幅居前；重组蛋白、肝 炎、智谱AI、创新药、财税数字化等概念走势较弱。涨停个股主要集中在机械设备、汽车、通信、化 工、医药生物等行业。 个股涨跌情况，截至收盘，沪深两市合计3767 ...