以下文章来源于创业板观察 ，作者王晨 创业板观察 . 创业板观察致力于发布深交所创业板的市场发展、政策变化、监管导向、上市企业动态等的及时信息， 提供有价值的市场资讯。 2025年6月，A股市场新开户数达165万户，环比上月有所回升，2025年上半年已累计新开 1260万户。 如何看165万新开户数？2025年1月A股新开户总数仅为157万户，2月的284万户实现了近翻 倍增长，3月突破了300万户，4月因关税摩擦市场震荡环比下降37.22%，5月环比4月有所回 落，6月有所回升，环比增长5.84%。 放在去年月度新开户数据中来看，与2024年6月新增108万户开户数相比，同比增长达53%。 结合2024年全年开户数据对比，165万户高于去年的6个月份：2月（130万）、4月（147 万）、5月（127万）、6月（108万）、7月（115万）、8月（100万）。 截至6月底，A股累计新开户1260万户，与去年同期（949万户）相比，增长32.79%，上半 年圆满收官，奠定全年新开户稳健基础。 6月新开户数回升，一个重要因素在于A股赚钱效应回升 ，三大指数均大幅上涨，上证指数涨 2.9%，并在6月突破3450点 ...

Group 1 - The A-share market is experiencing positive signals with an increase in active equity fund positions, marking the end of a three-week downward trend [1] - As of May 23, the average position of active equity mixed funds rose to 83.94%, an increase of 1.46 percentage points from May 16, indicating a recovery in market sentiment [1] - Public fund self-purchase enthusiasm is on the rise, with a total of 2.1 billion yuan invested in equity funds by public institutions this year, reflecting their long-term value recognition of the market [1] Group 2 - After a reduction in positions in early April, stock private equity funds are gradually returning to rationality, with an overall position index stabilizing at 75.16% as of May 16 [2] - The insurance sector is also showing increased market participation, with a total of 1.12 trillion yuan approved for long-term investments, and an additional 60 billion yuan expected to be injected into the market [2] - As of May 22, the net inflow of funds in May accounted for 0.5% of the A-share market's circulating market value, indicating a slight net inflow of funds since the beginning of 2025 [2] Group 3 - In the context of weakening dollar credit, Chinese assets are expected to benefit from a global rebalancing of capital allocation, supported by domestic industrial breakthroughs and manufacturing advantages [3] - Continuous implementation of financial policies is anticipated to drive investors towards equity assets, further injecting marginal funds into the capital market [3]

Group 1 - The A-share market experienced fluctuations with strong performance in sectors such as photovoltaic equipment, steel, cement, and coal, while communication equipment, semiconductors, aerospace, and consumer electronics lagged behind [1] - Long-term capital inflow into the market is accelerating, with steady growth in ETF sizes and continuous inflow of insurance funds, providing significant support [1] - The Federal Reserve maintained interest rates in June, but uncertainty remains regarding the path of potential rate cuts, which could significantly boost global risk appetite if clear signals are released [1] Group 2 - The A-share market showed signs of adjustment, with the majority of Federal Reserve members expecting a rate cut later this year, while the U.S. economy remains robust [2] - Domestic manufacturing PMI data indicates a recovery in manufacturing sentiment, reflecting resilience in the Chinese economy [2] - Upcoming mid-year reports are expected to significantly impact individual stock performance, reinforcing the importance of earnings in market dynamics [2]

Core Viewpoint - The legal opinion letter from Beijing Tongshang Law Firm confirms that Weichai Power Co., Ltd. has obtained the necessary approvals for the adjustment of the repurchase price and the repurchase and cancellation of part of the A-share restricted stock under its 2023 A-share incentive plan, in compliance with relevant laws and regulations [1][7][9]. Summary by Sections Approval and Authorization of Repurchase Price Adjustment and Cancellation - The company has completed the necessary approval and decision-making procedures for the repurchase price adjustment and cancellation of restricted stock, including resolutions from the board of directors and the supervisory board [3][4][6]. Details of the Repurchase Price Adjustment - The repurchase price for the restricted stock will be adjusted based on the company's profit distribution, specifically from RMB 5.599 per share to RMB 5.252 per share, if the profit distribution occurs before the completion of the repurchase [8][9]. Reasons for Repurchase and Cancellation - The repurchase and cancellation of 820,000 shares of restricted stock are due to changes in employment status of eight original incentive targets, such as retirement and resignation [9]. Repurchase Price and Funding - The repurchase price is set at RMB 5.252 per share, plus applicable bank deposit interest, with a total funding requirement of approximately RMB 4.3066 million sourced from the company's own funds [9]. Conclusion - The legal opinion concludes that the repurchase price adjustment and cancellation of shares have met the necessary approvals and comply with relevant regulations, although final approval from the shareholders' meeting is still required [9].

（原标题：A股重磅！新开1260万户！） 上交所官网最新数据显示，今年6月A股新开户约165万户，其中，个人投资者开户163.8万户，机构投资 者开户0.84万户。这一数据较今年5月的156万户环比增长6%，远超去年6月的107.6万户，同比大增 53.35%。 上半年，A股新开户在1月份平稳开局，新开户数为157万户；2月达到284万户，环比接近翻倍；3月达 到306.55万户；4月下降至192.44万户；5月受假期影响再度回落，下降至156万户，6月小幅拉升至165万 户。 3月的开户潮引人注目，单月达到306.55万户，仅次于去年"9·24行情"启动后，10月份684万户的历史第 二高。 业内人士认为，3月新增个人投资者数量往往处于一年中的高位，这主要与春季行情的预期有关。同 时，不少券商推出"开门红"活动，也吸引了一批个人投资者入场。 券商经纪业务收入获"助力" 【导读】6月A股新开户约165万户，上半年累计新增逾千万户 见习记者 舍梨 7月2日，上交所发布最新的A股新开户数据，今年6月A股新开户约165万户，上半年累计新开户数达到 1260万户，较2024年上半年累计新开户数949万户增长超32%。 ...

Group 1 - Musk criticized Trump's "Big and Beautiful" tax and spending bill, suggesting that if passed, it would lead to the formation of a new political party called "American Party" [4] - Trump's interview indicated that Musk's discontent stems from the bill's proposal to eliminate tax credits for electric vehicle consumers, impacting Tesla's interests [6] - A survey revealed that 49% of Americans oppose the bill, while only 29% support it, indicating significant public dissent [9] Group 2 - In June, U.S. private sector employment unexpectedly fell by 33,000, marking the first negative growth since March 2023, with the service sector experiencing its largest decline since the pandemic [13] - Following the employment data, traders increased bets on at least two rate cuts by the Federal Reserve before the end of 2025, with expectations for the upcoming non-farm payroll report [15] - UBS forecasts a modest increase of 100,000 in non-farm payrolls for June, while Citigroup predicts an increase of only 85,000, with concerns about a potential rise in the unemployment rate [15]

Market Adjustment Analysis - The current market adjustment is expected to have some sustainability, characterized as a small peak level [1] - Despite the adjustment, the number of stocks down over 5% is relatively low, indicating some buying activity in the market [1] - The index and sector movements are not in sync, with some high-position stocks still showing strength [1] Technical Indicators - The 90-minute structure formed a new high point at 2 PM, suggesting a need for adjustment and pressure [2] - The average stock price shows a bearish K-line combination, indicating a potential for minor adjustments across most stocks [2] - The weekly index has risen for 13 consecutive weeks, indicating a strong upward trend but also a need for caution due to potential overextension [2] Short-term Outlook - The 60-minute technical indicators are showing a downward turn, suggesting adjustment pressure [3] - The 120-minute indicators are also slightly turning down, reinforcing the expectation of a high point [3] - A support level around 3420 is noted, with the expectation that this adjustment is a small cycle high point [3]

（原标题：和讯投顾刘文博：A股缩量成交13769亿， 本轮首阴出现，尾盘全团进城） 昨天提前出城三个营，今天市场单边下跌，盘中做低后尾盘结束进程。7月2号A股收盘了，和讯投顾刘 文博分析，首先昨天我们的三个营的品种跌破了持股线，按照纪律10:30~11:00我们减了三个营，那么 今天早盘的普跌呢我们就比大多数人少挨了一刀，到10:30的时候呢又1个东西跌破持股线了，所以6个 营变成了5个营，下午2点又有1个东西跌破了持股线，所以6个营变成了4个营。2:00撤离之后，呢指数 出现了一波快速的回落，在2:19左右大盘出现了一个今天的最低点，很幸运就在这个最低点我们进城了 两个营的部队，因为跌的比较深了，已经符合了我们低吸的标准，2:19的时候呢就是4个营重新变回了6 个营蓝筹，没想到进完之后指数就开始一路上行，但是由于这个上涨啊并没有量，从进程到2:45，指数 的量一丁点都没有放，代表着反弹并不得人心。 随后在2:35左右，指数又开始了一个小幅度的回落，那么也就是在2:50这个位置，也就是今天市场尾盘 的次低点，我们把4个营全都塞了回去，整体上就相当于昨天到今天做了1个小小的差价，肯定有人会问 为什么跌下来了，调 ...

【2025年上半年A股打新市场火爆，收益丰厚但中签率降，新股"三高"问题改善】 MACD金叉信号形成，这些股涨势不错！ 本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 今年上半年，打新市场延续去年火爆势头。Wind数据显示，A股有51家新上市公司，较2024年上半年增 15.91%。其中，创业板20家最多，主板18家、科创板7家、北交所6家。 51只新股上市首日零破发，赚 钱效应远超去年。首日平均涨幅229.09%，去年同期136.05%。44只涨幅超1倍、29只超2倍、13只超3 倍。 3月20日，江南新材上市，发行价10.54元/股，盘中最高涨幅超700%，收盘涨606.83%，报74.5元/ 股，换手率85%。 6月26日，广信科技（920037.BJ）上市，发行价10元/股，收盘涨500%，换手率 75%，是上半年北交所新股涨幅最高的。天工股份、星图测控首日涨幅紧随其后。 按上市首日收盘价 算，41只新股单签浮盈过万元，占比80%。影石创新单签浮盈6.49万元排第一，弘景光电、矽电股份分 列二三位。 丰厚打新收益吸引大量资金，致中签率大幅下降。今年上半年，新股网上中签率平均 0.0289 ...

据证监会消息，近日，中国证监会党委召开扩大会议，深入学习习近平同志在福建工作期间的金融论 述与实践启示，研究部署资本市场贯彻落实具体举措。证监会党委书记、主席吴清主持会议并讲话。 五要统筹发展与安全。始终把维护市场稳定作为监管工作首要任务，推动健全常态化稳市机制安排， 平稳有序防控债券违约、私募基金等领域风险，为资本市场高质量发展创造更加良好的环境。 会议强调，一要统筹"两个结合"。深刻把握马克思主义金融理论的中国化实践，借鉴全球经验，立 足国情市情，牢记"国之大者"，更好推动资本市场理论创新、实践创新、制度创新，毫不动摇走好 中国特色金融发展之路。 三要统筹效率与公平。持续优化股债融资、并购重组等资本市场机制安排，促进要素向最有潜力的领 域高效集聚，更好支持科技创新和产业创新融合发展。牢记我国资本市场中小投资者众多的最大市 情，不断完善投资者保护制度体系，坚决维护市场"三公"。 四要统筹对内改革与对外开放。深入推进以"两创板"改革为抓手的新一轮全面深化资本市场改革， 不断以改革优制度、增活力。全力抓好资本市场自主开放重点举措落地，以做强主场为方向，持续提 升A股市场吸引力、竞争力。 二要统筹政治性与专业性。 ...