市场全天震荡走高，沪指重回3600点上方，再创年内收盘新高。南财金融终端显示，截至收盘，沪指涨 0.96%，深成指涨0.59%，创业板指涨0.39%。 算力硬件股表现活跃，长飞光纤涨停。 下跌方面，医药股展开调整，奇正藏药跌停。 沪深两市全天成交额1.6万亿元，较上个交易日放量975亿。个股方面，中际旭创成交额超86亿元居首， 工业富联、新易盛、西藏天路成交额靠前。 | 沪深A股 上证A股 | 深证A股 | 创业板 | 科创板 风险警示 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 代码 | 名称 | | 深刻 | 最新给 | 淵跌 | 源速 | 最比 | 换手率 | 張暢 | 成交额 ▼ | | 1 300308 | 中际旭创 | R | +1.20% | 210.92 | +2.50 | +0.01% | 0.91 | 3.77% | 7.13% | 26.986 | | 2 601138 | 工业需联 | RS | +6.31%: | 35.05 | +2.08 | +0.20% ...

Core Viewpoint - The company, Tibet Tianlu (600326.SH), is facing continuous losses in its main business and has decided to reduce its holdings in China Power Construction (601669.SH) to recover some funds [1][3]. Group 1: Stock Sale Details - Tibet Tianlu announced the sale of 25 million shares of China Power Construction, generating a total transaction amount of 184 million yuan, which accounts for 4.78% of the company's audited net assets for the last fiscal year [1]. - After the sale, Tibet Tianlu retains 41.77 million shares of China Power Construction [1]. - The net investment gain from this sale, after deducting costs and related transaction taxes, is approximately 45.75 million yuan, impacting the company's net profit by the same amount, which represents 43.87% of the last fiscal year's net profit [1]. Group 2: Financial Performance - Tibet Tianlu's main business includes engineering contracting, cement production and sales, asphalt production and sales, and mineral processing and sales [3]. - The company reported revenues of 3.845 billion yuan, 4.097 billion yuan, and 3.13 billion yuan from 2022 to 2024, with net losses of 498 million yuan, 532 million yuan, and 104 million yuan during the same period [3]. - The forecast for the first half of 2025 indicates a projected net loss of between 77 million yuan and 115 million yuan, representing an increase in losses of 14.38% to 70.83% [3]. - The company expects a decrease in net losses for the same period, with a projected loss of 45 million yuan to 83 million yuan, which is a year-on-year reduction of 23.25% to 58.39% [3]. - Over the past three and a half years, Tibet Tianlu's cumulative net losses are estimated to exceed 1.211 billion yuan [4].

Core Viewpoint - Tibet Tianlu has executed a strategic reduction of its holdings in China Power Construction Corporation, selling 25 million shares at an average price of 7.35 CNY per share, resulting in a total transaction value of approximately 184 million CNY, which significantly impacts its net profit for 2024 [4][3]. Group 1: Shareholding and Financial Impact - Tibet Tianlu sold 25 million shares of China Power Construction, realizing an estimated net gain of approximately 45.75 million CNY, which constitutes about 43.87% of the company's projected net profit for 2024 [4]. - Following the sale, Tibet Tianlu retains 41.77 million shares of China Power Construction [4]. - The average selling price of 7.35 CNY per share is notably higher than the closing price of 6.46 CNY on August 4 [3]. Group 2: Market Context and Performance - The stock prices of both Tibet Tianlu and China Power Construction have surged recently, with Tibet Tianlu's stock increasing by 107% and China Power Construction's by 34% [5]. - Tibet Tianlu's stock reached a historical high of 19.50 CNY on July 31, following significant investments in large infrastructure projects, including a major hydropower project with a total investment of approximately 1.2 trillion CNY [8]. - The company has a 65% market share in the cement sector in Tibet, positioning it as a key supplier in the region [8]. Group 3: Financial Performance and Future Outlook - The company has experienced fluctuations in its financial performance, with revenue and net profit showing declines in three out of the last four years [8]. - For the first half of 2025, Tibet Tianlu anticipates a net loss of between 77 million CNY and 115 million CNY, reflecting a year-on-year increase in losses [9]. - Despite a 10.76% increase in revenue to 339 million CNY in the first quarter, the company reported a net loss of 124 million CNY, indicating a trend of increasing revenue without corresponding profit growth [9].

市场早盘震荡分化，三大指数涨跌不一，沪指再度站上3600点。截至收盘，沪指涨0.53%，深成指涨 0.14%，创业板指跌0.26%。 沪深两市成交额约10056.96亿元，较前一个交易日放量约848.93亿元。 个股方面，中际旭创、新易盛、西藏天路、翰宇药业等成交额靠前。 | 序号 | 代码 | 名称 | 规价 | 商联 | 789天候 | 張綱 | 最高 | 根据 | 量比 | 狗手率 | 成交量 | 成交额 ▼ | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 300308 | 中际旭创 | 205.25 | -3.17 | -1.52% | 7.13% | 218,37 | 203.50 | 11.21 | 2.65% | 2927万 | 61.55亿 | | 2 | 300202 | 新易盛 | 177.84 | -6.66 | -3.61% | 7.43% | 190.01 | 176.30 | 1.08 | 3.57% | 3162万 | 57.98亿 | | 3 | 6003 ...

Group 1 - The core point of the news is that Tibet Tianlu has sold 25 million shares of China Power Construction, realizing a transaction amount of 184 million yuan, which is 4.78% of the company's audited net assets attributable to shareholders for the last fiscal year [1] - The average transaction price for the shares sold by Tibet Tianlu is approximately 7.35 yuan per share, while the closing price on August 4 was only 6.46 yuan per share, indicating that the company sold at a relatively high price [1] - The net investment income from the sale of China Power Construction shares is estimated to be around 45.75 million yuan, accounting for 43.87% of the company's net profit attributable to shareholders for the last fiscal year [1] Group 2 - At the end of 2022, Tibet Tianlu signed a subscription agreement with China Power Construction to purchase approximately 66.77 million shares at a price of 6.44 yuan per share, totaling about 430 million yuan [2] - The financial outlook for Tibet Tianlu in 2024 is not optimistic, with projected revenue of 3.138 billion yuan, a year-on-year decline of 23.4%, and a net profit attributable to shareholders of -104 million yuan, marking three consecutive years of losses [2] - In the first quarter of 2025, Tibet Tianlu reported revenue of 339 million yuan, a year-on-year increase of 10.76%, but still recorded a net profit of -124 million yuan [2] - A positive signal was noted in the company's half-year performance forecast, indicating a reduced loss for the first half of 2025 compared to the first quarter [2] - Tibet Tianlu's stock price surged nearly doubling from July 21 to July 31, reaching 19.15 yuan per share, with a market capitalization of 25.4 billion yuan, driven by significant investments in the Yarlung Tsangpo River downstream hydropower project [2]

Regulatory Changes - Recent tax regulations require individuals to declare and pay taxes on overseas stock trading income at a rate of 20% [1] - Taxpayers are allowed to offset gains and losses within the same tax year but not across different years [1] Market Performance - In July, wholesale sales of new energy passenger vehicles reached 1.18 million units, marking a 25% year-on-year increase but a 4% month-on-month decline [3] - A-share market saw 1.96 million new accounts opened in July, a 71% increase year-on-year and a 19% increase month-on-month, indicating a recovery in market activity [4] Corporate Developments - China Shipbuilding plans to absorb China Shipbuilding Heavy Industry, which may lead to the latter's stock being delisted [5] - A stock resumption is scheduled for Aug 5 for a company that reported a 12.5% increase in revenue but a 32.91% decrease in net profit due to foreign exchange losses [6] - A company has begun small-scale supply of humanoid robots, expecting sales revenue of approximately 10 million in 2025 [7] - A company plans to raise up to 730 million for projects related to precision gear manufacturing for new energy vehicles [8] - A company sold shares of China Power Construction for a total of 184 million, expecting a net investment gain of approximately 45.75 million [9] - Guizhou Moutai has repurchased 3.45 million shares for a total of 5.301 billion, representing 0.2748% of its total share capital [14] - A company is responding to government calls to reduce production capacity in the photovoltaic glass sector [15] - A company plans to acquire 51% of a semiconductor firm to facilitate its strategic transition into the semiconductor industry [17]

Group 1 - A-share market sees over 100 billion yuan in cash dividends as 30 companies announce mid-term dividend plans for 2025 [1] - The trend of multiple dividends per year is expected to become a standard practice among listed companies, with an anticipated increase in the number of companies implementing mid-term dividends in 2025 [1] - Tesla grants CEO Elon Musk 96 million shares of restricted stock, valued at approximately 29 billion dollars based on last week's closing price [3] Group 2 - In July 2025, nearly 2 million new investors entered the A-share market, marking a year-on-year increase of over 70% [3] - Cumulative new investors in the A-share market from January to July 2025 reached approximately 14.56 million, a significant increase of 36.9% compared to the same period in 2024 [3] Group 3 - The Ministry of Finance emphasizes the use of proactive fiscal policies to boost consumption and expand domestic demand [5] - The People's Bank of China advocates for moderately loose monetary policies to support technological innovation and stabilize foreign trade [5] - The China Securities Regulatory Commission aims to consolidate market stability and enhance regulatory effectiveness [5] Group 4 - Guizhou Moutai repurchased 345.17 million shares, spending a total of 5.301 billion yuan [26] - The company plans to reduce its registered capital through the repurchased shares [26] Group 5 - Guoquan Food plans to distribute a mid-term dividend of 190 million yuan, with a total shareholder return exceeding 499 million yuan for 2025, a 130.7% increase year-on-year [15] - Yutong Bus reports a cumulative sales increase of 2.63% in the first seven months of 2025 [15] Group 6 - ChipLink Integrated achieved a 21.38% increase in revenue for the first half of 2025, with AI revenue contributing 6% of total revenue [31] - The company reported a significant reduction in net loss, with a quarterly profit for the first time [31] Group 7 - China Heavy Industry is set to delist from A-shares as it merges with China Shipbuilding, with trading suspended from August 13, 2025 [22]

Market Overview - On August 4, A-shares saw collective gains across major indices, with the Shanghai Composite Index rising by 0.66% to 3583.31 points, the Shenzhen Component Index increasing by 0.46% to 11041.56 points, and the ChiNext Index up by 0.5% to 2334.32 points [2][3] - The total trading volume in the Shanghai and Shenzhen markets reached 15,182 billion yuan, a decrease of 1,017 billion yuan from the previous day, with over 3,800 stocks rising [2] Sector Performance - The humanoid robot sector showed strong performance in the afternoon, while the gaming sector was also active. The medical device sector saw a rise, but the film and theater sector mostly adjusted downwards. The retail sector lagged, and the tourism and hotel sectors experienced declines, with Tibet Tourism hitting the daily limit down [2] International Market - The U.S. stock market indices rose on August 4, with the Dow Jones Industrial Average up by 1.34% to 44,173.64 points, the S&P 500 increasing by 1.47% to 6,329.94 points, and the Nasdaq Composite rising by 1.95% to 21,053.58 points [4][6] - European stock indices also saw gains, with the UK FTSE 100 up by 0.66%, the French CAC 40 up by 1.14%, and the German DAX up by 1.42% [4] Commodity Prices - International oil prices fell on August 4, with WTI crude oil down by 1.54% to $66.29 per barrel and Brent crude down by 1.31% to $68.76 per barrel [4][5] New Developments - China has made significant progress in HIV vaccine research, completing the first phase of clinical trials for a vaccine using a modified smallpox virus as a carrier, which has shown safety and effective immune response [7] - Shanghai's government is supporting enterprises in enhancing basic research and high-quality development through the "Explorer Plan," focusing on key scientific issues in industries like integrated circuits, biomedicine, and artificial intelligence [8] - Hainan province is accelerating the development of a commercial aerospace industry chain, aiming for a revenue target of 10 billion yuan by 2027 from its aerospace cluster [9] Industry Insights - The new energy passenger vehicle wholesale sales in China reached 1.18 million units in July, marking a 25% year-on-year increase, with a cumulative total of 7.63 million units sold from January to July, up 35% year-on-year [11] - A-share new account openings approached 2 million in July, with 1.96 million new accounts opened, reflecting a significant increase compared to previous months [12] Institutional Perspectives - Huafu Securities anticipates a turning point in the building materials sector due to supply-side structural reforms and a potential recovery in housing demand, which may stabilize the real estate market [13] - Kaiyuan Securities notes that the humanoid robot sector is poised for policy benefits, with significant growth in financing and capital activities within the industry [14]

Group 1 - Taxpayers in China are required to declare and pay taxes on overseas income from stock trading, as there are no tax exemptions for such income according to the personal income tax law [1] - Shanghai has issued measures to support enterprises in enhancing basic research, aiming to attract more companies in integrated circuits, biomedicine, and artificial intelligence to join the "Explorer Program" [2] - Significant progress has been made in HIV vaccine research in China, with the completion of the first phase clinical trial of a replicating Tian Tan smallpox vaccine vector HIV vaccine [3] Group 2 - In July 2025, A-share new accounts reached 1.96 million, showing a year-on-year increase of 71% compared to July 2024, and a month-on-month increase of 19.27% [4] - The wholesale sales of new energy passenger vehicles in China reached 1.18 million units in July, marking a year-on-year growth of 25% but a month-on-month decline of 4% [6] - Companies such as Fengli Intelligent and Lvtong Technology are planning to raise funds through private placements and acquisitions, indicating active capital market activities [7][8] Group 3 - Guizhou Moutai has repurchased a total of 3.45 million shares, with a total payment of 5.301 billion yuan [10] - The net profit of Shangwei New Materials for the first half of the year is expected to be 29.9 million yuan, a year-on-year decrease of 32.91% [10] - The net profit of Haowei Group is projected to increase by 39% to 50% year-on-year for the first half of the year [10] Group 4 - China Shipbuilding Industry Corporation plans to absorb China Shipbuilding, which may lead to the termination of the latter's stock listing [12] - The U.S. President has indicated plans to increase tariffs on India due to its oil trade practices, which could impact international trade dynamics [13] - The Federal Reserve's comments suggest potential interest rate cuts, which could influence market conditions and investment strategies [14]

Industry News - In July 2025, the number of new A-share accounts reached 1.96 million, showing a year-on-year increase of 71% and a month-on-month increase of 19.27% [6] - The China CDC and other teams completed the first phase clinical trial of a copy-type AIDS vaccine using the Tian Tan strain, marking significant progress in AIDS vaccine research in China [6] - The wholesale sales of new energy passenger vehicles in China reached 1.18 million units in July, representing a year-on-year growth of 25% and a cumulative total of 7.63 million units from January to July, up 35% year-on-year [6] - Tencent released four open-source small-sized models suitable for low-power scenarios, which can run on consumer-grade graphics cards [6] Company News - Kweichow Moutai announced a share buyback of 3.45 million shares, with a total payment of 5.301 billion yuan [8] - Leishan Electric announced that starting September 1, residential electricity will be charged at off-peak rates, which is expected to reduce the company's electricity business revenue by approximately 16.6 million yuan in 2025 [9] - Guizhou Moutai's share buyback reflects the company's commitment to enhancing shareholder value [8] - Green通 Technology plans to acquire 51% of DaMo Semiconductor for 530 million yuan, aiming for strategic transformation and industrial upgrade towards the semiconductor industry [10]