- The report introduces a "Total Heat Index" for monitoring market sentiment, which aggregates the browsing, self-selection, and click counts of individual stocks, normalized by their market share on the same day, and then multiplied by 10,000, with a value range of [0,10000][7] - The "Total Heat Index" is used as a proxy variable for "emotional heat" to track the sentiment of broad-based indices, industries, and concepts[7] - The report constructs a simple rotation strategy based on the weekly heat change rate (MA2) of different broad-based indices, buying the index with the highest heat change rate at the end of each week, and staying out of the market if the highest change rate is in the "others" group[12][15] - The rotation strategy based on the heat change rate (MA2) has an annualized return of 8.74% since 2017, with a maximum drawdown of 23.5%, and a return of 32.7% in 2025[15] - The report also constructs two simple portfolios based on the heat change rate of concepts: a "TOP" portfolio consisting of the top 10 stocks with the highest total heat in the hottest concepts, and a "BOTTOM" portfolio consisting of the bottom 10 stocks with the lowest total heat in the hottest concepts[29] - The "BOTTOM" portfolio historically achieved an annualized return of 15.71% with a maximum drawdown of 28.89%, and a return of 40.9% in 2025[31] - The "Total Heat Index" for broad-based indices includes the heat of the CSI 300, CSI 500, CSI 1000, and CSI 2000 indices, as well as an "others" group for stocks not included in these indices[8][9] - The weekly heat change rate (MA2) for the main broad-based indices shows that the CSI 500 had the highest increase of 3.33%, while the CSI 300 had the largest decrease of 4.11%[15] - The weekly heat change rate (MA2) for the Shenwan primary industries shows that the real estate industry had the highest increase of 48.8%, while the defense industry had the largest decrease of -31.0%[26] - The weekly heat change rate (MA2) for the Shenwan secondary industries shows that the top 5 industries with the highest positive change rates are house construction II, film and cinema, paper, coal mining, and home appliance parts II[26] - The weekly heat change rate for concepts shows that the top 5 concepts with the highest positive change rates are house inspection, underground pipelines, car dismantling, prefabricated buildings, and Shanghai state-owned enterprise reform[27][29] - The current valuation historical percentiles (rolling 5 years) for the main broad-based indices are 81% for the CSI 300, 99% for the CSI 500, and 94% for the CSI 1000[36] - The Shenwan primary industries with current valuations above the 80th historical percentile include power equipment, electronics, computers, light manufacturing, defense, pharmaceuticals, retail, building materials, banking, coal, and basic chemicals[37] - The Shenwan secondary industries with current valuations above the 80th historical percentile include chemical pharmaceuticals, aerospace equipment, wind power equipment, steel raw materials, biological products, semiconductors, large state-owned banks, environmental protection equipment, general retail, airports, components, clothing and textiles, automotive services, tourism and scenic spots, commercial vehicles, rubber, building materials, real estate services, professional chains, diversified finance, animal health, electronic chemicals, optical and optoelectronics, chemical fibers, digital media, other electronics, glass and fiberglass, automation equipment, and games[40]

Core Viewpoint - Tongji Technology's stock has shown significant growth this year, with a year-to-date increase of 61.26%, and recent trading activity indicates strong interest despite some net outflow of funds [1][2]. Company Overview - Tongji Technology, established on June 11, 1993, and listed on March 11, 1994, is located at 20th Floor, Tongji United Plaza, 1398 Siping Road, Shanghai. The company specializes in engineering consulting services, environmental engineering technology services, investment construction, technology park construction and management, building engineering management, and real estate development [1]. - The main revenue composition includes: 86.88% from engineering construction and consulting services, 10.21% from environmental engineering and environmental protection operations, 2.57% from real estate income (residential development), and 0.34% from other sources [1]. Financial Performance - For the first half of 2025, Tongji Technology reported operating revenue of 1.517 billion yuan, a year-on-year decrease of 17.12%, and a net profit attributable to shareholders of 146 million yuan, down 37.26% year-on-year [2]. - The company has distributed a total of 1.565 billion yuan in dividends since its A-share listing, with 355 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Tongji Technology was 35,600, a decrease of 2.71% from the previous period, with an average of 17,524 circulating shares per shareholder, an increase of 2.79% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 6.2236 million shares, an increase of 1.2494 million shares from the previous period, while the CSI Shanghai State-owned Enterprise ETF (510810) is a new entrant holding 4.1373 million shares [3].

Core Viewpoint - Oriental Yuhong's stock has shown a significant increase in recent months, with a year-to-date rise of 10.96% and a notable 26.99% increase over the past 60 days, indicating strong market performance and investor interest [1]. Financial Performance - For the first half of 2025, Oriental Yuhong reported a revenue of 13.569 billion yuan, a year-on-year decrease of 10.84%, and a net profit attributable to shareholders of 564 million yuan, down 40.16% compared to the previous year [2]. - Cumulatively, since its A-share listing, Oriental Yuhong has distributed a total of 10.714 billion yuan in dividends, with 7.603 billion yuan distributed over the past three years [3]. Shareholder Structure - As of August 20, 2025, the number of shareholders for Oriental Yuhong was 181,400, a decrease of 1.20% from the previous period, while the average number of tradable shares per shareholder increased by 1.21% to 10,558 shares [2]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 372 million shares, which is an increase of 29.126 million shares from the previous period [3].

Core Viewpoint - Huajian Group's stock price reached a closing price of 17.18 yuan on September 15, with a significant increase of 9.99% for the day, driven by market expectations and sector performance in infrastructure and water conservancy [1][2]. Group 1: Stock Performance - The stock hit the daily limit at 9:46 AM and experienced three instances of limit opening before closing [1]. - The stock has seen a cumulative increase of 83.12% this year, indicating a technical breakout that has attracted follow-up buying [1]. Group 2: Market Factors - The rise in Huajian Group's stock is attributed to the overall activity in the infrastructure, water conservancy, and housing inspection sectors, which were collectively active on that day [1][2]. - A recent announcement on September 12 indicated a deviation in stock price over three days exceeding 20%, leading to market speculation about potential positive developments despite the company stating no undisclosed matters [1]. Group 3: Capital Flow - On September 15, the net outflow of main funds was 13.97 million yuan, accounting for 1.32% of the total trading volume, while retail investors saw a net inflow of 15.62 million yuan, representing 1.47% of the total [1][2]. - The housing inspection concept rose by 1.05%, the infrastructure concept increased by 0.72%, and the water conservancy concept grew by 0.51% on the same day [2].

建研院所属申万行业为：社会服务-专业服务-检测服务。所属概念板块包括：设计咨询、房屋检测、绿 色建筑、微盘股、新型城镇化等。 截至6月30日，建研院股东户数2.46万，较上期减少11.63%；人均流通股20242股，较上期增加13.16%。 2025年1月-6月，建研院实现营业收入3.24亿元，同比减少12.06%；归母净利润319.91万元，同比减少 83.08%。 分红方面，建研院A股上市后累计派现1.67亿元。近三年，累计派现5576.15万元。 9月11日，建研院盘中下跌2.21%，截至09:47，报4.42元/股，成交1148.30万元，换手率0.52%，总市值 21.97亿元。 资金流向方面，主力资金净流出114.46万元，大单买入109.78万元，占比9.56%，卖出224.24万元，占比 19.53%。 建研院今年以来股价涨15.56%，近5个交易日涨1.14%，近20日涨0.23%，近60日涨11.90%。 今年以来建研院已经1次登上龙虎榜，最近一次登上龙虎榜为3月17日，当日龙虎榜净买入4191.85万 元；买入总计8609.60万元 ，占总成交额比34.32%；卖出总计4417.75万元 ...

Company Overview - Su Bote New Materials Co., Ltd. is located in Nanjing, Jiangsu Province, established on December 15, 2004, and listed on November 10, 2017. The company specializes in the research, production, and sales of concrete additives [1][2]. Financial Performance - For the first half of 2025, Su Bote achieved operating revenue of 1.673 billion yuan, representing a year-on-year growth of 7.03%. The net profit attributable to shareholders was 63.245 million yuan, an increase of 18.68% year-on-year [2]. - Since its A-share listing, Su Bote has distributed a total of 740 million yuan in dividends, with 234 million yuan distributed over the past three years [3]. Stock Performance - As of September 10, Su Bote's stock price increased by 2.01%, reaching 11.15 yuan per share, with a total market capitalization of 4.753 billion yuan. The stock has risen by 51.49% year-to-date [1]. - The stock has seen a trading volume of 54.66 million yuan with a turnover rate of 1.19%. The net outflow of main funds was 1.1986 million yuan, with large orders accounting for 5.00% of total buy and 7.19% of total sell [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 19,300, with an average of 21,807 circulating shares per person, a decrease of 1.53% from the previous period [2]. - Among the top ten circulating shareholders, Noan Pioneer Mixed A (320003) is the sixth largest, holding 5.6563 million shares as a new shareholder [3]. Business Segments - The main business revenue composition includes high-performance water-reducing agents (51.83%), functional materials (20.74%), technical services (20.21%), and others [1].

Core Insights - The company reported a revenue of 2.977 billion yuan for the first half of 2025, a year-on-year decrease of 17.25% [1] - The net profit attributable to shareholders was 137 million yuan, down 26.84% year-on-year, with a non-recurring net profit of 83.3 million yuan, a decline of 54.60% [1] - Basic earnings per share stood at 0.14 yuan, with a weighted average return on equity of 2.58% [1] Financial Performance - The gross profit margin for the first half of 2025 was 22.55%, a decrease of 1.09 percentage points year-on-year, while the net profit margin was 4.67%, down 0.78 percentage points from the previous year [1] - In Q2 2025, the gross profit margin was 22.07%, a year-on-year decline of 1.13 percentage points and a quarter-on-quarter decrease of 1.09 percentage points; the net profit margin was 4.63%, down 0.98 percentage points year-on-year and 0.09 percentage points quarter-on-quarter [1] Expense Management - Total operating expenses for the first half of 2025 were 498 million yuan, a reduction of 110 million yuan compared to the same period last year, with an expense ratio of 16.72%, down 0.17 percentage points year-on-year [2] - Sales expenses decreased by 17.88%, management expenses fell by 18.16%, and R&D expenses dropped by 27.43%, while financial expenses increased by 119.97% [2] Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 42,300, a decrease of 5,244 households, representing an 11.02% decline; the average market value per household increased from 160,700 yuan to 193,300 yuan, a growth of 20.23% [2] Company Overview - The company, established on June 12, 1992, and listed on February 9, 1993, is based in Shanghai and focuses on providing high-quality integrated solutions for urban and rural construction, with main business revenue sources including engineering design (51.39%), engineering contracting (38.36%), and engineering consulting and management (9.87%) [2]

Core Viewpoint - Shenzhen Ruijie announced a share buyback plan with a maximum amount of 17.84 million yuan and a maximum price of 29.74 yuan per share, which is 57.02% higher than the current price of 18.94 yuan [1] Group 1: Company Overview - Shenzhen Ruijie Technology Co., Ltd. was established on April 12, 2010, and listed on April 20, 2021 [1] - The company is located in Longgang District, Shenzhen, Guangdong Province, and its main business includes third-party evaluation, management, and consulting services for construction projects [1] - The revenue composition of the company is as follows: 57.84% from third-party evaluation, 41.44% from project management, and 0.72% from other services [1] Group 2: Financial Performance - As of August 20, the number of shareholders of Shenzhen Ruijie was 8,674, an increase of 0.78% from the previous period [2] - The average circulating shares per person decreased by 0.77% to 10,923 shares [2] - For the first half of 2025, the company achieved an operating income of 200 million yuan, a year-on-year decrease of 4.11%, while the net profit attributable to shareholders increased by 79.58% to 19.01 million yuan [2] Group 3: Shareholder and Dividend Information - Since its A-share listing, Shenzhen Ruijie has distributed a total of 127 million yuan in dividends, with 38.72 million yuan distributed over the past three years [3] - As of June 30, 2025, the top ten circulating shareholders saw the exit of the CCB Trend Mixed A fund from the list [3]

Group 1 - The stock price of Chengbang Co., Ltd. is 8.58 yuan as of August 27, 2025, with a decrease of 0.46 yuan, representing a decline of 5.09% from the previous trading day's closing price [1] - Chengbang Co., Ltd. opened at 9.05 yuan per share, reached a high of 9.06 yuan, and a low of 8.58 yuan, with a trading volume of 231,379 hands and a transaction amount of 204 million yuan [1] - The company is involved in sectors such as engineering construction, Zhejiang region, housing inspection, micro-disc stocks, and storage chips, with its main business activities including construction engineering, municipal public engineering, and building decoration [1] Group 2 - Chengbang Co., Ltd. has announced a plan to distribute cash dividends of no less than 15% of the annual distributable profits for the next three years [1] - As of August 27, 2025, the net outflow of main funds from the company is 26.13 million yuan, accounting for 1.15% of the circulating market value, with a total net outflow of 32.29 million yuan over the past five days, representing 1.42% of the circulating market value [1]

Core Insights - New Point Software received a net financing inflow of 23.13 million yuan last week, ranking 499th in the market [1] - The company operates in various sectors including software development, Jiangsu region, and smart city solutions [1] Financing and Investment - The total financing amount for New Point Software last week was 104 million yuan, while repayments amounted to 81.30 million yuan [1] - Over the past 5 days, the main capital outflow was 8.12 million yuan, with a decline of 0.95% [1] - In the last 10 days, the main capital outflow reached 2.78 million yuan, with a decline of 0.21% [1] Company Profile - Founded in 1998, New Point Software Co., Ltd. is based in Suzhou and primarily engages in software and information technology services [1] - The company has a registered capital of 330 million yuan and has made investments in 19 enterprises [1] - New Point Software has participated in 5,000 bidding projects and holds 98 trademarks and 267 patents [1]