| 新股发行及今日交易提示 | 2025/4/8 | 星期二 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 2025/4/8 | 新股发行 | 证券代码 | 证券简称 | 发行价格 | | | | 301662 | 宏工科技 | 26.60 | 2025/4/8 | 新股上市 | | | | 证券代码 | 证券简称 | 发行价格 | 603257 | 中国瑞林 | 20.52 | | | 2025/4/8 | 内地市场权益提示 | 类别 | 证券代码 | 证券简称 | 权益日期 | 最新公告链接 | | http://www.cninfo.com.cn/new/disclosure/detail?stockCode=600777&announcementId=122299 | 要约收购 | 600777 | ST新潮 | 要约申报期：2025年4月8日至2025年5月7日 | 2722&orgId=gssh0600777&announcementTime=2025 | -04-03 | | http://www.cninfo.com.cn/ne ...

hjn 2025 年 04 月 07 日 证券研究报告 | 公募基金周报 ETF 策略指数跟踪周报 2025/4/7 分析师：卫以诺 分析师登记编码：S0890518120001 电话：021-20321014 邮箱：weiyinuo@cnhbstock.com 分析师登记编码：S0890522110001 电话：021-20321297 邮箱：chengbingzhe@cnhbstock.com 021-20515355 1、《常青低波策略逆市获正收益，海外避 险情绪或近尾声—公募基金量化遴选类 策 略 指 数 跟 踪 周 报 （ 2025.03.30 ）》 2025-04-01 2、《ETF策略指数跟踪周报—2025/3/31》 2025-03-31 3、《常青低波策略占优，海外权益企稳反 弹—公募基金量化遴选类策略指数跟踪 周报（2025.03.23）》2025-03-25 2025-03-24 2025-03-18 投资要点 分析师：程秉哲 华宝研究大小盘轮动 ETF 策略指数：华宝研究大小盘轮动 ETF 策略指数利用 多维度技术指标因子，采用机器学习模型对申万大盘指数和申万小盘指数的收 益差进行预测 ...

New Stock Issuance - Kent Catalysts issued at a price of 15.00[1] - ST Xinchao has a tender offer period from April 8, 2025, to May 7, 2025[1] Abnormal Fluctuations - ST Gongzhi reported significant abnormal fluctuations on April 3, 2025[2] - ST Yu Shun experienced abnormal fluctuations on March 27, 2025[3] - ST Xintong reported abnormal fluctuations on April 4, 2025[3]

Group 1 - The report highlights that on April 2, Trump announced a list of "reciprocal tariffs" affecting over 180 countries, including China, with tariff increases exceeding market expectations [2][9] - In response, China implemented countermeasures, including a 34% tariff on all imports from the US and export controls on certain rare earth materials [3][10] - The report suggests that the tariff situation may be just the beginning, potentially leading to a protracted negotiation phase that could suppress market risk appetite [10][11] Group 2 - The report indicates that the global economic outlook is facing adjustment risks due to the potential escalation of tariff conflicts and retaliatory measures from other countries [10] - It notes that the increase in tariffs on Chinese exports to the US will likely increase export pressure in China during the second quarter [10] - The report recommends increasing allocations to low-volatility and safe-haven assets, such as domestic and foreign bonds, gold, and high-dividend assets, in response to the tariff situation [11] Group 3 - The weekly market review shows that the bond market has started to recover, with the 10-year government bond yield dropping from a high of 1.9% to around 1.8% [12] - The equity market has experienced significant adjustments due to the tariff escalation, leading to decreased trading volume and increased market divergence [12][14] - The report anticipates that the bond market will gradually return to normal, with a focus on medium to long-term and credit bond allocations [13] Group 4 - The report emphasizes that the A-share market should focus on low-valuation high-dividend sectors, tourism-related sectors during the Qingming holiday, and industries less affected by external demand [14] - It suggests that the global equity market will experience increased volatility due to the stronger-than-expected tariffs, which may suppress market risk appetite [14] - The report advises a cautious approach to equity assets in the short term, with a focus on defensive strategies until policy measures can restore market confidence [14]

Group 1 - The report highlights the uncertainty surrounding tariff policies, particularly the recent announcements from the US that exceeded market expectations, which may lead to increased market risk aversion [5][20][23] - The economic performance in Q1 was strong, but there are concerns about a potential slowdown in Q2 due to external tariff disturbances and weak domestic demand [6][7][33] - The report emphasizes the need for policy measures to support domestic consumption and counteract external pressures, suggesting that the government may implement strategies to boost consumer demand [7][8][41] Group 2 - The A-share market is currently in a phase of adjustment following a revaluation, with external tariff pressures impacting global risk appetite and leading to a cautious outlook [8][10] - The report indicates that the market is transitioning from a focus on valuation to an emphasis on earnings performance as the earnings season approaches [8][10] - Defensive strategies are recommended, with a focus on large-cap value and dividend stocks, as market volatility increases due to external uncertainties [8][10] Group 3 - The report notes a mixed performance in major asset classes, with A-shares experiencing slight declines while gold prices surged significantly due to heightened uncertainty in international trade [13][14] - The performance of various sectors in March showed a divergence, with defensive sectors like coal, non-ferrous metals, and banking performing well, while growth sectors faced declines [15][16] - The report suggests that the technology sector remains a key focus for the year, despite facing short-term adjustments due to reduced market sentiment [8][10][16]

| 新股发行及今日交易提示 | 2025/4/3 | 星期四 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 2025/4/3 | 内地市场权益提示 | 类别 | 证券代码 | 证券简称 | 权益日期 | 最新公告链接 | | http://www.cninfo.com.cn/new/disclosure/detail?stockCode=600777&announcementId=1222992722&orgI | 600777 | ST新潮 | 要约申报期：2025年4月8日至2025年5月7日 | d=gssh0600777&announcementTime=2025 | -04-03 | 要约收购 | | http://www.cninfo.com.cn/new/disclosure/detail?stockCode=688739&announcementId=1222921245&orgI | 688739 | 成大生物 | 要约申报期：2025年3月5日至2025年4月3日 | d=gfbj0831550&announcementTi ...

New Stock Listings - 首航新能 (Stock Code: 301658) listed at an issue price of 11.80 on April 2, 2025[1] Tender Offers - 成大生物 (Stock Code: 688739) has a tender offer period from March 5, 2025, to April 3, 2025[1] Abnormal Fluctuations - 回盛生物 (Stock Code: 300871) reported severe abnormal fluctuations on March 28, 2025[1] - 中科海讯 (Stock Code: 300810) reported severe abnormal fluctuations on March 28, 2025[1] - 亿利达 (Stock Code: 002686) reported severe abnormal fluctuations on March 21, 2025[1] - 四环生物 (Stock Code: 000518) reported severe abnormal fluctuations on April 2, 2025[1] - 立新能源 (Stock Code: 001258) reported severe abnormal fluctuations on April 2, 2025[1] - 兰石重装 (Stock Code: 603169) reported severe abnormal fluctuations on April 2, 2025[1] - 跨境通 (Stock Code: 002640) reported severe abnormal fluctuations on April 2, 2025[1] - 中毅达 (Stock Code: 600610) reported severe abnormal fluctuations on April 2, 2025[1] - 哈空调 (Stock Code: 600202) reported severe abnormal fluctuations on April 2, 2025[1] - 楚环科技 (Stock Code: 001336) reported severe abnormal fluctuations on April 2, 2025[1]

| 新股发行及今日交易提示 | 2025/4/1 | 星期二 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 2025/4/1 | 内地市场权益提示 | 类别 | 证券代码 | 证券简称 | 权益日期 | 最新公告链接 | | http://www.cninfo.com.cn/new/disclosure/detail?stockCode=688739&announcementId=1222921245&orgI | 要约收购 | 688739 | 成大生物 | 要约申报期：2025年3月5日至2025年4月3日 | d=gfbj0831550&announcementTime=2025 | -03-28 | | http://www.cninfo.com.cn/new/disclosure/detail?stockCode=600610&announcementId=1222927113&orgI | 600610 | 中毅达 | d=gssh0600610&announcementTime=2025 | -03-28 | | | | http ...

2025 年 04 月 01 日 证券研究报告 | 公募基金周报 常青低波策略逆市获正收益，海外避险情绪或近尾声 公募基金量化遴选类策略指数跟踪周报（2025.03.30） 分析师：程秉哲 分析师登记编码：S0890522110001 电话：021-20321297 邮箱：chengbingzhe@cnhbstock.com 分析师：黄浩 分析师登记编码：S0890524110001 电话：021-20321391 邮箱：huanghao@cnhbstock.com 销售服务电话： 021-20515355 1 、《 ETF 策 略 指 数 跟 踪 周 报 — 2025/3/31》2025-03-31 2、《常青低波策略占优，海外权益企稳 反弹—公募基金量化遴选类策略指数跟 踪周报（2025.03.23）》2025-03-25 3 、《 ETF 策 略 指 数 跟 踪 周 报 — 2025/3/21》2025-03-24 4、《ETF 策略指数跟踪周报—2025/3/》 2025-03-18 5、《市场关注消费提振新闻发布会，再 次点燃 A 股热情—公募基金量化遴选类 投资要点 本周 A 股市场在上周从高位回 ...

2025/4/1 分析师：卫以诺 分析师登记编码：S0890518120001 电话：021-20321014 邮箱：weiyinuo@cnhbstock.com 2025 年 04 月 01 日 证券研究报告 | 财富生态周报 ETF 及指数产品网格策略周报 分析师登记编码：S0890522110001 电话：021-20321297 邮箱：chengbingzhe@cnhbstock.com 销售服务电话： 021-20515355 2025/3/25》2025-03-25 2、《ETF 及指数产品网格策略周报— 2025/3/18》2025-03-18 3、《ETF 及指数产品网格策略周报— 2025/3/11》2025-03-11 4、《ETF 及指数产品网格策略周报— 2025/3/4》2025-03-04 5、《ETF 及指数产品网格策略周报— 2025/2/26》2025-02-26 投资要点 分析师：程秉哲 ◆网格交易策略概述：简单来说，"网格交易"本质上是一种高抛低吸的交易 策略。但与依赖判断长期走势的趋势交易不同，网格交易是一种基于价格波动 的策略，它不预测市场的具体走势，而是利用价格在一 ...