9月22日，A股市场整体上涨。 截至收盘，上证指数收报3828.58点，上涨0.22%；深证成指收报13157.97点，上涨0.67%；创业板指收报3107.89 点，上涨0.55%。两市合计成交21214.83亿元，较上一交易日减少2023.47亿元。 1. 两市主力资金净流出近150亿元 | | | 沪深两市最近五个交易日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | 净流入金额 开盘净流入 | 尾盘净流入 | 超大单净买入 | | 2025-9-22 | -149.51 | -77.29 | 37. 32 | -12. 91 | | 2025-9-19 | -431.42 | -147.94 | -31. 05 | -206. 34 | | 2025-9-18 | -760.44 | -203. 53 | -196. 21 | -332. 00 | | 2025-9-17 | -328.39 | -128. 05 | -39.90 | -150. 90 | | 2025-9-16 | -165.54 | -44. 85 | 4. 6 ...

（编辑 楚丽君） 证券日报网讯 9月22日晚间，领益智造发布公告称，根据安排，截至2025年10月14日收市后仍未转股 的"领益转债"将被强制赎回。本次赎回完成后，"领益转债"将在深圳证券交易所摘牌，特提醒"领益转 债"债券持有人注意在限期内转股。债券持有人持有的"领益转债"如存在被质押或被冻结的，建议在停 止转股日前解除质押或冻结，以免出现因无法转股而被赎回的情形。 ...

Group 1 - The pricing of Tesla's robots aligns with Figure's valuation, indicating a potential increase in the valuation ceiling for global robot manufacturers [1][2] - Figure's recent C-round financing has raised its post-money valuation to $39 billion, with a projected price per robot of $20,000 based on a production target of 100,000 units [2] - Tesla's robot business is projected to reach a market cap of $500 billion, with a target delivery of 1 million units, suggesting a price per unit of $25,000 [2] Group 2 - Core component companies are expected to enjoy significant valuation premiums, with potential P/E ratios reaching 200 times in the early stages of the industry [3] - The hardware cost for robots is estimated at 70%, with joint modules priced at $300 each, leading to a projected P/S ratio of around 30 times for joint module companies [3] - The market for robots is anticipated to grow exponentially, allowing core component companies to rapidly increase their valuations during the initial to scaling phases [3] Group 3 - Companies with capabilities in continuous R&D, engineering feasibility, and global manufacturing are likely to integrate into the supply chains of leading robot companies like Tesla and Figure [4] - Key components such as dexterous hands and actuators are critical for the practical application of robots, emphasizing the importance of supply chain vertical integration [4] - The focus on supply chain integration, AI chip development, and dexterous hands is central to the product requirements of both Tesla and Figure [3][4]

Group 1 - The main point of the article highlights that the main funds in the Shanghai and Shenzhen markets experienced a net outflow of 149.51 billion yuan on September 22, with the ChiNext board seeing a net outflow of 99.42 billion yuan [2] - Among the 11 industries tracked, the electronics industry had the highest increase, rising by 3.71%, while the social services industry saw the largest decline at 2.04% [2] - Seven industries received net inflows from main funds, with the electronics industry leading at 46.29 billion yuan, followed by the banking industry with 3.05 billion yuan [2] Group 2 - Notable individual stocks included Lingyi iTech, which saw a net inflow of 17.33 billion yuan, marking a 9.12% increase in its stock price [3] - Other companies with significant net inflows included Lixun Precision, Changying Precision, and ZTE, each exceeding 5 billion yuan [5] - In contrast, leading stocks such as Shenghong Technology and Xinyi Sheng experienced net outflows exceeding 11 billion yuan, with Shenghong Technology alone seeing a net outflow of 16.44 billion yuan over seven consecutive days [7]

Investment Rating - The industry investment rating is "Positive (Maintain)" [5] Core Viewpoints - The smart terminal market is expected to flourish, driven by the recovery in iPhone sales and the entry of large model manufacturers like Open AI, which will accelerate innovation in smart terminal categories and forms [3][8] - The iPhone 17 series has shown strong sales performance, with a fourfold increase in trade-in sales compared to the previous year, indicating a positive outlook for the supply chain [8] - Open AI's entry into AI hardware terminals is expected to enrich the product ecosystem, benefiting existing supply chain companies like Luxshare Precision and GoerTek [8] Summary by Sections Investment Suggestions and Targets - The report recommends buying shares of several companies in the AI supply chain, including Luxshare Precision (002475), Lens Technology (300433), and GoerTek (002241) among others [3] Industry Dynamics - The report highlights the potential for rapid growth in the AI hardware terminal market, with Open AI planning to launch its first device by late 2026 or early 2027, which will include various innovative products [8] - The report notes that the iPhone 17 series has prompted Apple to increase production capacity, reflecting strong market demand and potential for supply chain growth [8] - Meta's recent launch of multiple AI & AR glasses indicates a growing market for AR technology, suggesting a shift from accessory to independent smart terminal status for wearable devices [8]

Group 1: Market Overview - On September 22, the main funds in the Shanghai and Shenzhen markets experienced a net outflow of 14.951 billion yuan, with the ChiNext board seeing a net outflow of 9.942 billion yuan and the CSI 300 index stocks a net outflow of 2.6 billion yuan [1] - Among the 11 sectors tracked, the electronics sector led with a gain of 3.71%, while the social services sector saw the largest decline at 2.04% [1] - A total of 7 sectors received net inflows from main funds, with the electronics sector attracting the highest net inflow of 4.629 billion yuan [1] Group 2: Individual Stock Performance - The stock "Lingyi iTech" topped the list with a net inflow of 1.733 billion yuan, reflecting a price increase of 9.12% [4] - "Invech" and "Shanzi High-Tech" also saw significant net inflows of 1.132 billion yuan and 1.05 billion yuan, respectively, with price increases of 9.99% and 10.08% [4] - Other notable stocks with net inflows exceeding 500 million yuan include "Luxshare Precision," "Changying Precision," and "Zhongke Shuguang," each attracting over 500 million yuan [3] Group 3: Fund Flow Analysis - A total of 110 stocks experienced net outflows exceeding 100 million yuan, with "Shenghong Technology" and "Xinyi Sheng" leading with outflows of 1.644 billion yuan and 1.116 billion yuan, respectively [5] - The electronics sector, particularly "O-Film," "Ganfeng Lithium," and "BYD," also faced significant net outflows, each exceeding 500 million yuan [5] - In the tail-end trading session, the main funds saw a net inflow of 3.732 billion yuan, with "Changying Precision" leading the inflow at 441.135 million yuan [7]

电子、贵金属等行业走强 天普股份14连板 9月22日，上证指数全天窄幅震荡；深证成指、创业板指早盘窄幅震荡，午后一度回升，随后震荡回 落，尾盘再度回升；科创50指数早盘低开高走，午后震荡上扬，随后有所回落。截至收盘，上证指数报 3828.58点，涨0.22%，成交额9418亿元；深证成指报13157.97点，涨0.67%，成交额11796.9亿元；创业 板指报3107.89点，涨0.55%，成交额5474.91亿元；科创50指数报1408.64点，涨3.38%，成交额1142亿 元。沪深两市合计成交21214.9亿元，成交额较上一交易日减少2023亿元。 92股获主力资金净流入超1亿元 盘面上来看，行业板块、概念跌多涨少。其中，电子、贵金属、计算机、机械设备、证券、汽车等行业 涨幅靠前；存储芯片、苹果、AI手机、同步磁阻电机、算力、培育钻石等概念走势活跃。美容护理、 商贸零售、食品饮料、建筑装饰、石油石化、银行、教育、建筑材料等行业跌幅居前；低碳冶金、影 视、草甘膦、乳业、免税、净水、预制菜、冰雪经济等概念走势较弱。涨停个股主要集中在电子、化 工、机械设备、汽车、计算机等行业。 个股涨跌情况，截至收盘，沪深两 ...

Market Overview - The net outflow of large orders in the two markets reached 783 million yuan, with 1,679 stocks experiencing net inflows and 3,036 stocks seeing net outflows [1] - The Shanghai Composite Index closed up 0.22% [1] Industry Analysis - Eight industries saw net inflows of large orders, with the electronics sector leading at 10.634 billion yuan, followed by the computer sector with 3.854 billion yuan [1] - The real estate and machinery equipment sectors also had significant net inflows [1] - Conversely, 23 industries experienced net outflows, with the power equipment sector seeing the largest outflow of 2.392 billion yuan, followed by the pharmaceutical and biological sector with 2.218 billion yuan [1] Individual Stock Performance - A total of 44 stocks had net inflows exceeding 200 million yuan, with Zhongke Shuguang leading at 2.753 billion yuan [2] - Other notable stocks with significant inflows include Lingyi Technology (1.989 billion yuan) and Yingwei Technology (1.446 billion yuan) [2] - Stocks with the highest net outflows included Shenghong Technology (-1.498 billion yuan) and Jianghuai Automobile (-1.305 billion yuan) [4] Stock Price Movements - Stocks with net inflows over 200 million yuan saw an average increase of 8.98%, outperforming the Shanghai Composite Index [2] - Specific stocks that hit the daily limit include Changying Precision and Aotajia [2] Sector Concentration - The stocks with the highest net inflows were concentrated in the electronics, automotive, and computer sectors, with 21, 4, and 4 stocks respectively [2]

资金面上看，今日AI PC概念板块获主力资金净流入19.63亿元，其中，22股获主力资金净流入，9股主 力资金净流入超亿元，净流入资金居首的是领益智造，今日主力资金净流入19.71亿元，净流入资金居 前的还有长盈精密、鹏鼎控股、华勤技术等，主力资金分别净流入7.96亿元、4.46亿元、3.55亿元。 截至9月22日收盘，AI PC概念上涨2.80%，位居概念板块涨幅第7，板块内，35股上涨，长盈精密20%涨 停，德明利、鹏鼎控股等涨停，思泉新材、江波龙、领益智造等涨幅居前，分别上涨11.75%、9.96%、 9.12%。跌幅居前的有科森科技、中京电子、博敏电子等，分别下跌3.83%、3.44%、2.33%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 同花顺果指数 | 5.17 | 中韩自贸区 | -2.51 | | AI手机 | 4.06 | 高压氧舱 | -1.90 | | 智能音箱 | 3.43 | 免税店 | -1.90 | | 国家大基金持股 | 3.11 | 乳业 | -1.82 | | 富士 ...

沪指9月22日上涨0.22%，申万所属行业中，今日上涨的有11个，涨幅居前的行业为电子、计算机，涨 幅分别为3.71%、1.70%。电子行业位居今日涨幅榜首位。跌幅居前的行业为社会服务、美容护理，跌 幅分别为2.04%、1.36%。 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 002600 | 领益智造 | 9.12 | 9.84 | 197118.44 | | 688041 | 海光信息 | 10.70 | 3.09 | 126365.06 | | 002475 | 立讯精密 | 10.00 | 1.25 | 105147.79 | | 300115 | 长盈精密 | 20.01 | 19.24 | 79573.01 | | 002654 | 万润科技 | 10.01 | 22.42 | 59517.11 | | 688981 | 中芯国际 | 6.25 | 7.94 | 50773.92 | | 000727 | 冠捷科技 | 10.04 | 11.18 | 49659.51 | | 68 ...