FII(SH:601138) 第一财经·2025-12-31 07:53Core Viewpoint - The A-share market closed the year 2025 with significant gains, with the Shanghai Composite Index rising 18.41%, marking a 10-year high, while the Shenzhen Component Index and the ChiNext Index also saw substantial increases of 29.87% and 49.57% respectively [3][6]. Market Performance - The commercial aerospace sector continued to show strong performance, with AI applications also gaining traction. Sectors such as education, aviation, and cultural media led the gains, while pharmaceuticals, shipbuilding, batteries, oil, and semiconductors experienced declines [6][10]. - Notable stocks in the commercial aerospace sector included Beidou Starlink, Fenghuo Communication, and Leike Defense, with 20 stocks hitting the daily limit up [7][8]. Stock Highlights - Top gainers included: - Jiuzhiyang (300516) +20.00% at 80.70 - Feiwo Technology (301232) +17.91% at 168.37 - Xinwei Communication (300136) +16.98% at 62.00 - Qianzhao Optoelectronics (300102) +15.75% at 27.56 - Aerospace Universe (688523) +14.55% at 55.96 [8]. - The AI sector also performed well, with stocks like BlueFocus (300028) hitting a 20% limit up [9]. Capital Flow - Main capital inflows were observed in aerospace, media, and computer sectors, while outflows were noted in electronics, automotive parts, and agriculture [10][11]. - Specific stocks with significant net inflows included BlueFocus with 2.746 billion, Liou Shares with 2.300 billion, and Aerospace Electronics with 1.810 billion [11]. Institutional Perspectives - Everbright Securities noted a clear divergence in market funds, suggesting that structural trends are likely to continue [12]. - CICC indicated that the structural differentiation observed on the last trading day would persist into 2026, with a trend of gradual upward movement expected [14]. - CITIC Securities projected a low-volatility slow bull market for A-shares in 2026, driven by policy support and long-term capital inflows, with expectations for continued improvement in listed companies' net profits [15].