Group 1 - The A-share market opened with the Shanghai Composite Index down by 0.14% [1] - The Shenzhen Component Index opened down by 0.36% [1] - The ChiNext Index opened down by 0.49% [1] Group 2 - Digital currencies, mobile payments, and precious metals concept stocks showed strength [1]

5月29日，A股市场高开高走，迎来放量反弹行情。Wind数据显示，截至收盘，上证指数、深证成指、 创业板指、科创50指数、北证50指数分别上涨0.70%、1.24%、1.37%、1.61%、2.73%，上证指数报收 3363.45点，创业板指报收2012.55点。 5月29日，外部影响因素出现变化，市场风险偏好回升，A股和港股市场携手反弹。截至收盘，上证指 数站上3360点，深证成指、创业板指均涨逾1%，整个A股市场超4400只股票上涨，数字货币、移动支 付、金融科技、EDA等概念板块爆发。A股市场成交放量，成交额达1.21万亿元。港股市场也放量反 弹，恒生指数涨逾1%，恒生科技指数涨逾2%。 资金面上，Wind数据显示，29日沪深两市主力资金净流入超70亿元，南向资金净流入超40亿港元。本 周前三日A股融资余额增加超90亿元。 分析人士认为，当前市场所具备的估值基础、政策支撑与产业动能，为长期行情的展开提供了坚实土 壤，A股和港股市场有望迎来指数上行行情。 ● 本报记者 吴玉华 放量反弹 大小盘股票携手上涨，大盘股集中的上证50指数、沪深300指数分别上涨0.29%、0.59%，小微盘股集中 的中证1000 ...

Group 1: Company Overview - The main business of Xiongdi Technology (300546) involves providing integrated identity recognition and intelligent management solutions using trusted identity technology, artificial intelligence, digital security technology, and blockchain for global governments, institutions, and enterprises [1][4] - The company is a supplier of machine-readable travel document equipment for the United Nations ICAO [2] Group 2: Recent Stock Performance - Xiongdi Technology's stock has recently increased by 28% over two trading days, driven by strong concepts in digital currency, smart transportation, and trusted identity technology [5] - The stock shows bullish signals with moving averages in a bullish arrangement and MACD indicating potential for further upward movement, with a net inflow of 225 million yuan from main funds [5] Group 3: Key Concepts Driving Stock Price - The digital currency concept is gaining strength, with the company's products integrating advanced technologies such as NFC, QR code payment, multimodal biometric recognition, and national secret-level digital RMB hardware wallets, creating a comprehensive payment system [3] - In the smart transportation sector, the company is recognized as an innovator in smart travel payment, developing a fully proprietary technology matrix for all-scenario payment [3] - The trusted identity technology sector is also contributing to the stock's rise, as the company positions itself as a comprehensive service provider for trusted digital identity information [4]

Market Performance - On May 29, 2025, the A-share market indices showed a strong upward trend, with the Shanghai Composite Index rising by 0.70%, the Shenzhen Component Index by 1.24%, and the ChiNext Index by 1.37%[2] - The total market turnover reached 1,185.23 billion yuan, an increase of 175.48 billion yuan compared to the previous trading day[2] Sector Performance - Among the 30 major sectors, the top performers included Comprehensive Finance (7.68%), Computer (3.64%), and Medicine (2.33%), while the laggards were Banking (-0.21%), Food and Beverage (-0.20%), and Oil and Petrochemicals (-0.13%)[20] - Growth stocks outperformed value stocks, with small-cap growth leading the performance rankings[20] Capital Flow - On May 29, 2025, the net inflow of main funds was 15.196 billion yuan, with large orders showing a net inflow of 17.828 billion yuan and medium orders showing a net outflow of 18.550 billion yuan[24] - Southbound funds recorded a net inflow of 4.382 billion HKD, with the Shanghai-Hong Kong Stock Connect contributing 4.186 billion HKD and the Shenzhen-Hong Kong Stock Connect contributing 0.196 billion HKD[26] ETF Activity - Major ETFs such as the Huaxia Shanghai 50 ETF and the Huatai-PB CSI 300 ETF saw significant increases in trading volume, with changes of +1.514 billion yuan and +1.402 billion yuan respectively[29] - The inflow into the Sci-Tech 50 ETF on May 28 was 0.382 billion yuan, indicating a strong interest in technology-focused investments[29] Global Market Trends - On May 29, 2025, major Asia-Pacific indices closed higher, with the Hang Seng Index up 1.36% and the Nikkei 225 Index up 1.88%[33] - In contrast, European indices fell on May 28, with the DAX down 0.78% and the FTSE 100 down 0.59%[33]

证券研究报告 ·北交所报告 · 北交所定期报告 北交所定期报告 20250529 商务部:中方敦促美方彻底取消单边加征关 税 】 乐吴叶芬 2025年05月29日 证券分析师 朱洁羽 执业证书:S0600520090004 zhujieyu@dwzq.com.cn 证券分析师 易申申 执业证书:S0600522100003 vishsh@dwzq.com.cn 证券分析师 余慧勇 执业证书:S0600524080003 yuhy@dwzq.com.cn 研究助理 薛路熹 执业证书:S0600123070027 xuelx(@dwzq.com.cn 研究助理 武阿兰 执业证书:S0600124070018 wual@dwzq.com.cn ■ 今日新股:暂无。 风险提示:个股盈利不及预期,行业竞争加剧,贸易摩擦加剧,政策不及 预期等。 相关研究 《A 股三大指数震荡整理,9.44 亿净 流入商业百货》 2025-05-28 《商务部:支持符合条件的经开区上 市融资》 2025-05-27 1/8 东吴证券研究所 制度建立健全,节能市场化机制更加健全。4)浙江:到 2027年 以公 共云方式提供服务的智算规模达到 ...

我觉得今天的放量大阳线更多地体现了一种避险意愿的下降。你看昨天晚上黄金大跌，30年国债也大 跌，这当然和大洋彼岸的消息有关，关税战是不是要结束了？但我对那边的消息永远保持一份谨慎和冷 静的态度。从本质上讲，我们的市场还是在走独立行情。调整到位了，缩量到位了，主力筹码反复震荡 到位了。前面我反复说过，只要市场连续缩量在1万亿左右跌不动了，那基本上就该放量往上走了。 3400点以下这个位置没什么风险。但如果你想直接突破3400，那还需要天时地利人和。 所有人都在等待市场回补缺口的时候，市场却选择了直接向上突破，这再次证明了A股唯一的确定性就 是不确定性。今天早上的视频里，我们提到今天市场可能会有修复，但我也没想到会是这样一根放量大 阳线。那么，这是否意味着行情直接反转？是否酝酿出了新的主线呢？ 那么，新的主线的酝酿，我要说的就是今天下午直接高潮的数字货币。为什么我说它有可能走出新的主 线？其实是因为它是和大盘反转的节点共振。这样的板块，又有这么强的上涨力度，可以高看一眼。不 过，我不是让你去追高。有两个思路：第一个思路是等这种直接高潮的板块，明天回调出低点，跌不动 的时候去低吸博弈。它套了今天高开追高的人之后，割 ...

今天是5月29日星期四，如果大家今天紧盯股指的话，应该能够发现市场的走势验证了老索前期的判 断。在前期市场调整的时候，老索跟大家提到过，从技术形态上来看，市场在这个位置应该会有一波比 较深幅的调整。然而，目前市场最大的主力是汇金和央行，所以在这种强烈的干预态势下，市场资金不 敢无限制做空，因此市场在这个位置出现了高位横盘震荡的局面，并且今天开始出现了反抽。 老索个人认为，3400点应该不是今年的顶部。今天他要跟大家讲的其实并不是指数，而是市场中一个非 常令人迷惑的新概念——稳定币。今天市场中最大的热点可能是数字货币，而稳定币正是其中的关键。 稳定币的官方定义是一种锚定法币的加密货币，也就是说它锚定一个国家的真实货币，或者是锚定商 品、一揽子资产来保持价格稳定。它既是一种加密货币，又是一种数字货币，但背后有法币的支持。目 前，美元是稳定币背后的主要法币，虽然港元也在推行自己的稳定币，但目前最大的稳定币还是与美元 挂钩。 那么，为什么美元已经有了比特币，也有自己的支付系统，而且还是世界上第一大货币，却还要搞一个 稳定币呢？这其中的门道其实非常多，足以让人感到震撼。首先，对美元来说，最危险的事情就是全球 各个国家的 ...

Market Overview - On May 29, the A-share market saw major indices fluctuate and close higher, with the Shanghai Composite Index rising by 0.7%. The total trading volume reached 1.21 trillion yuan, an increase of nearly 180 billion yuan compared to the previous trading day. Approximately 4,500 stocks closed higher, while 831 stocks declined, with 120 stocks hitting the daily limit up and 16 stocks hitting the limit down [1]. Sector Performance - The digital currency sector led the market with a 6.5% increase, featuring over 10 stocks hitting the daily limit up, including Lakala, Xiongdi Technology, and Sifang Chuangxin [1]. - The innovative drug sector also performed strongly, with stocks like Ruizhi Pharmaceutical, Shutaishen, and Yifang Bio-U hitting the daily limit up. Shutaishen's stock price has surged by 108.7% over the past eight trading days, with individual investors buying 4.832 billion yuan worth of shares, accounting for 65.17% of total purchases [1]. - The autonomous driving sector experienced a wave of limit-up stocks, including Sanyou Technology and Wanma Technology [1]. Historical Highs - A total of 27 stocks reached historical closing highs, with the pharmaceutical and biological sector leading with 8 stocks, followed by machinery equipment with 6 stocks, and retail with 2 stocks. The average increase for these stocks was 7.5% [2][3]. Institutional Activity - On May 29, 8 stocks saw net purchases exceeding 10 million yuan from institutions, with Wangzi New Materials leading at 41.11 million yuan. Other notable net purchases included Sifang Chuangxin and Jiusheng Electric, each exceeding 30 million yuan [4][5]. - Conversely, Xiongdi Technology faced a net sell-off exceeding 100 million yuan, with other stocks like Yong'an Pharmaceutical and Youfu Co., Ltd. also experiencing significant net selling [4]. Northbound Capital - Northbound capital saw significant net purchases, with Sifang Chuangxin receiving 149.95 million yuan, followed by Lakala with 89.21 million yuan. The largest net sell-offs were recorded for Xue Ren Co., Ltd. and Guangju Energy [6]. Company Announcements - Guangyang Co., Ltd. announced the termination of its planned acquisition of Ningbo Yinqiu Technology Co., Ltd. due to a lack of consensus among parties involved. The stock will resume trading on May 30 [7]. - Fengcai Technology is in the process of applying for an H-share listing on the Hong Kong Stock Exchange and has received a filing notice from the China Securities Regulatory Commission [7]. - Zhongke Xingtou announced that it has been suspended from participating in military procurement activities starting May 28, 2025 [7]. - Pingao Co., Ltd. signed a service contract worth 397 million yuan with Shenzhen Yuanmai for providing computing power resources [7]. - Zoomlion plans to issue asset-backed securities (ABS) up to 4 billion yuan and credit bonds up to 1 billion yuan [7]. Land Acquisition - Xiaoshangpin City successfully acquired a state-owned construction land use right in Hangzhou for 569 million yuan, intended for the Yiwu market project [8].

Macro Dynamics - The Chinese Ministry of Commerce urges the U.S. to completely eliminate unilateral tariffs, emphasizing that trade wars have no winners and protectionism leads to negative outcomes [1] - The Chinese Ministry of Foreign Affairs firmly opposes the U.S. decision to unjustly cancel Chinese student visas, stating it harms the legitimate rights of Chinese students and disrupts normal cultural exchanges between the two countries [2] Market Data - On May 29, the A-share market saw the ChiNext Index rise by 1.37%, with significant gains in digital currency and EDA concepts, as well as autonomous driving and innovative drug sectors [7] - The total market turnover reached 1.2 trillion yuan, an increase from the previous day's 1 trillion yuan, with over 4,400 stocks rising [7] - As of May 28, the total margin balance in the two markets increased by 2.95 billion yuan, with the Shanghai Stock Exchange's margin balance at 909.99 billion yuan and the Shenzhen Stock Exchange's at 883.23 billion yuan [8] Company Dynamics - Tesla's CEO Elon Musk announced that the Model Y autonomous driving vehicle will be delivered to customers in June, with successful testing on public roads in Austin [10] - Ideal Auto reported a total revenue of 25.9 billion yuan for Q1 2025, a year-on-year increase of 1.1%, and a net profit of 647 million yuan, up 9.4% year-on-year, with total vehicle deliveries of 92,900 units, reflecting a 15.5% increase [12]

Group 1 - Several banks have suspended the issuance of 5-year large-denomination certificates of deposit (CDs), while 3-year CDs remain available but with limited quotas for certain clients [1] - The average selling price (ASP) of NAND Flash suppliers decreased by 15% quarter-on-quarter in Q1 2025, with total revenue for the top five brands dropping nearly 24% to $12.02 billion [1] - The global TV market saw a 2.4% year-on-year increase in shipment volume in Q1 2025, driven by stable demand in Western Europe and North America, along with government subsidies in China [1] Group 2 - The first domestic "liquid oxygen methane + stainless steel + sea soft landing recovery" rocket successfully completed its maiden sea flight recovery test, marking a significant technological breakthrough [2] - Zong Fuli has resigned as the legal representative of Xi'an Hengfeng Beverage Co., Ltd., with Zhu Lidan taking over the position [2] Group 3 - Kuaishou's Keling AI has launched a new 2.1 series model, offering competitive pricing for video generation, with 5-second videos costing as low as 20 inspiration points [3] - DJI has acquired land in Shenzhen for 2.287 billion yuan to establish a global headquarters for its smart aviation system industry ecosystem [3] Group 4 - Li Auto reported a net profit of 647 million yuan in Q1 2025, a year-on-year increase of 9.4%, with total revenue reaching 25.9 billion yuan [4] - Futu Holdings' Q1 2025 revenue was 4.695 billion HKD, a year-on-year increase of 81.1%, with net profit rising by 97.7% [4] Group 5 - CSPC Pharmaceutical Group reported a revenue of 7.015 billion yuan in Q1, a year-on-year decrease of 21.9% [5] - The former general manager of Pacific Securities' Haikou branch was fined for violating stock trading regulations, with a total trading amount exceeding 30 million yuan [5] Group 6 - China State Construction Engineering Corporation has recently won three major projects with a total value of 8.23 billion yuan [6] - Jiahuan Technology has been awarded a construction service project for China Mobile, with a total contract value of 2.185 billion yuan [7] Group 7 - Xiaogoods City’s wholly-owned subsidiary won a bid for a core land parcel in Hangzhou for 568.71 million yuan, planning to build two 14-story office buildings [8] Group 8 - The ChiNext index rose by 1.37% in a market rebound, with over 4,400 stocks increasing in value, and more than 100 stocks hitting the daily limit [9]