Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - As the long holiday approaches, the futures index maintains a volatile pattern. The total trading volume of futures indices declined on April 28, indicating a decrease in investors' trading enthusiasm. The A - share market closed lower overall, with a decline in trading volume compared to the previous day [1][2][6] 3. Summary by Relevant Content 3.1 Futures Index Data - **Price and Change**: On April 28, the closing prices of the four major futures indices' current - month contracts showed mixed trends. IF fell 0.21%, IH rose 0.08%, IC fell 0.53%, and IM fell 0.95%. The underlying indices such as CSI 300, SSE 50, CSI 500, and CSI 1000 also had different changes, with CSI 300 down 0.14%, SSE 50 up 0.09%, CSI 500 down 0.51%, and CSI 1000 down 1.05% [1] - **Trading Volume and Open Interest**: The total trading volume of IF decreased by 13,541 lots, IH by 7,492 lots, IC by 12,934 lots, and IM by 38,222 lots. The total open interest of IF decreased by 1,592 lots, IH by 3,111 lots, IC by 5,259 lots, and IM by 7,247 lots [2] - **Basis**: The basis of each futures index contract is different. For example, the basis of IF2505 is - 19.42, and that of IH2505 is - 5.83 [1] - **Long and Short Orders**: The changes in long and short orders of each contract vary. For instance, the long orders of IF2505 increased by 618, and the short orders increased by 990 [5] 3.2 Market Driving Factors - **External Market**: The S&P had a narrow five - day gain, NVIDIA fell more than 2%, NXP tumbled after - hours, Chinese concept stocks rebounded, and NIO rose more than 7%. US Treasury yields hit a nearly two - week low, the US dollar index declined, and the yen rebounded more than 1%. Bitcoin and crude oil prices also had significant fluctuations [6] - **Domestic Policy**: China will introduce measures to stabilize employment and the economy and promote high - quality development, covering aspects such as employment support, foreign trade stability, consumption promotion, investment expansion, and a stable development environment [6] 3.3 A - Share Market Performance - **Index Closing**: The Shanghai Composite Index closed down 0.2% at 3,288.41 points, the Shenzhen Component Index fell 0.62%, the ChiNext Index fell 0.65%, and other indices also showed declines. The trading volume of A - shares was 1.08 trillion yuan, down from 1.14 trillion yuan the previous day [6] - **Sector Performance**: Bank stocks strengthened again, with stocks like China Construction Bank and Industrial and Commercial Bank of China hitting record highs. PEEK material concept stocks and online game concept stocks were active, while real estate and consumer sectors performed poorly. More than 4,100 stocks in the market fell [7] - **Fund Flow**: The net outflow of main funds from the Shanghai and Shenzhen stock markets was 31.852 billion yuan. Before the holiday, investors showed strong waiting - and - seeing sentiment [7]

Group 1 - The stock of Puli Pharmaceutical (普利制药) entered the delisting preparation period, with its stock price plummeting by over 70% at one point, reaching a maximum drop of 77.51% during trading [4][5][7] - The company previously announced that its 2021 and 2022 annual reports contained false records, with a total false profit amounting to 669 million yuan, accounting for 73.83% of the total disclosed profits for those two years [7] - The delisting preparation period for the company's stock and convertible bonds started on April 28, 2025, lasting for fifteen trading days, with the expected last trading date on May 21, 2025 [7][8] Group 2 - During the delisting preparation period, the company's stock will trade on the Shenzhen Stock Exchange's risk warning board, with no price limits on the first day, followed by a daily limit of 20% thereafter [8] - The company has warned investors that its stock is classified as a special security under the Shenzhen Stock Connect, meaning investors can only sell and not buy, which may affect future trading [8] Group 3 - In the A-share market, other sectors such as steel, internet, banking, and electricity showed gains, while real estate, tourism, and home goods sectors experienced declines [2] - Goldwind Technology (金风科技) reported a significant increase in its first-quarter revenue for 2025, achieving 9.472 billion yuan, a year-on-year growth of 35.72%, and a net profit of 568 million yuan, up 70.84% [3]

Market Overview - The market experienced a mixed performance with the Shanghai Composite Index showing strength while the ChiNext Index led the decline [1] - The total trading volume in the Shanghai and Shenzhen markets reached 715.8 billion, a decrease of 3.17 billion compared to the previous trading day [1] - Over 3,900 stocks in the market declined, indicating a broad-based sell-off [1] Sector Performance - The banking sector remained strong, with Industrial and Commercial Bank of China hitting a new historical high [1] - PEEK material concept stocks surged, with Xinhan New Materials rising over 10% [1] - Computing power concept stocks rebounded, with Dawi Technology hitting the daily limit [1] - Real estate stocks collectively adjusted, with companies like Yucheng Development hitting the daily limit down [1] Index Performance - The Shanghai Composite Index fell by 0.03% to 3,294.02 [2] - The Shenzhen Component Index decreased by 0.43% to 9,874.41 [2] - The ChiNext Index dropped by 0.55% to 1,936.40 [2] Trading Metrics - The limit-up rate was recorded at 64.00%, with 32 stocks hitting the limit and 18 stocks touching the limit down [6] - The opening rate was 49%, with a profit rate of 42% [6]

盘面上，PEEK材料概念涨超2%，肯特股份（301591）、新瀚新材（301076）等涨超10%，中研股份、 富恒新材等涨超5%。 4月28日早盘，A股市场主要指数震荡走弱，钢铁、银行、电力、互联网电商等逆市涨幅居前。 超超临界发电概念涨幅居前，华电能源（600726）、华银电力（600744）、京能电力（600578）等涨 停。 10股杠杆资金加仓超1亿元 截至4月25日，市场融资余额合计1.79万亿元，较前一交易日减少54.02亿元。 具体到个股，4月25日获融资净买入千万元以上的有250只，其中10只融资净买入额超1亿元。招商蛇口 （001979）融资净买入额居首，当日净买入2.01亿元；其次是比亚迪（002594）、拓维信息 （002261），融资净买入金额分别为1.94亿元、1.72亿元；融资净买入金额居前的还有寒武纪、浙江荣 泰（603119）、佐力药业（300181）等。 | 4月25日融资净买入居前个股 | | | | | | | --- | --- | --- | --- | --- | --- | | 融资净买入 代码 | | (亿元) | 最新融资余 额(亿元) | 占流通市值 比例 ( ...

PEEK材料概念股拉升，新瀚新材（301076）涨超10%，肯特股份（301591）涨超7%，中研股份、中欣 氟材（002915）、南京聚隆（300644）纷纷拉升。 暗盘资金正涌入这些股票，点击速看>>> ...

Market Overview - On April 24, the Shanghai Composite Index experienced slight fluctuations, closing with a trading volume of 1.14 trillion yuan, a decrease of 123.5 billion yuan from the previous trading day, with over 1,500 stocks rising and 64 stocks hitting the daily limit up, while 36 stocks hit the limit down [1] Industry Performance - The beauty care, banking, and public utilities sectors topped the industry gainers list, each with a closing increase of over 1% [2] - The PEEK materials concept surged by 3.7%, with companies like Xinhan New Materials and CGN Technology hitting the daily limit up [2] - The pet economy concept rose by 1.74%, with Tianyuan Pet and Zhongchong Co. hitting the daily limit up, and Zhongchong Co. and Guibao Pet reaching historical closing highs [2] Notable Stocks - A total of 23 stocks reached historical closing highs, with significant concentrations in the banking, automotive, and agriculture sectors, which had 6, 4, and 3 stocks respectively [5] - Among the stocks that hit historical highs, the average increase was 6.70%, with notable gainers including Zhaomin Technology and Zhongchong Co. [5] - The top three stocks by daily increase included Zhaomin Technology at 16.88%, Guibao Pet at 15.44%, and Lusi Co. at 14.74% [6] Institutional Activity - On April 24, institutions net bought over 100 million yuan in 6 stocks, with Qingdao Jinwang leading at 236.2 million yuan [8] - Conversely, 8 stocks faced net selling exceeding 10 million yuan, with N Tianyou leading at 196 million yuan [7] New Listings - The newly listed stock N Tianyou had an IPO price of 93.5 yuan, one of the highest on the Shanghai Stock Exchange, opening with a 49.73% increase but closing with a 24.06% rise [7]

Group 1: Market and Regulatory Updates - Shanghai and Shenzhen Stock Exchanges announced the Labor Day market closure from May 1 to May 5, 2025, resuming normal operations on May 6 [1] - Seven departments issued a plan for the digital transformation of the pharmaceutical industry, emphasizing the integration of artificial intelligence across the entire industry chain [2] - High-profile logistics platform GaoLu Group, backed by Hillhouse Capital, is seeking $100 million in private credit financing for asset acquisitions [3] Group 2: Company Financial Performance - Shenjian Co. reported a 2024 revenue of 2.418 billion yuan, a decrease of 5.97%, but a net profit increase of 32.29% to 33.65 million yuan, proposing a cash dividend of 0.5 yuan per 10 shares [6] - Jingwei Co. achieved a 2024 revenue of 673 million yuan, up 30.79%, but a net profit decline of 36.76% to 35.54 million yuan, proposing a cash dividend of 1.00 yuan per 10 shares [7] - Minsheng Health reported a 2024 revenue of 641 million yuan, a 10.23% increase, with a net profit of 91.83 million yuan, up 7.24%, proposing a cash dividend of 1.00 yuan per 10 shares [8] - Wangsu Technology's Q1 2025 net profit reached 192 million yuan, a 38.54% increase, with a revenue of 1.235 billion yuan, up 10.26% [9] - Beilu Pharmaceutical reported a Q1 2025 revenue of 283 million yuan, a 36.23% increase, with a net profit of 14.54 million yuan, up 26.13% [10] - Huning Co. reported a Q1 2025 revenue of 64.51 million yuan, a 4.37% increase, but a net profit decline of 45.68% to 3.61 million yuan [11] Group 3: Corporate Governance and Compliance - Pioneer's fund underwent significant management changes following a change in actual control, with the chairman resigning for personal reasons [4] - Hu Haiquan's private equity funds received regulatory warnings for failing to fulfill fiduciary duties and risk assessments during fundraising [5] - RNG's affiliated company was reported to owe 82,000 yuan in taxes [5]

银行股走强，工行、农行、中行三大行股价再创历史新高。 黄金股普遍回落。 高位热门股尾盘集体爆发， 安记食品（603696）、国芳集团（601086）走 出"地天板" ，乐山电力反包涨停，国光连锁、红宝丽、立方制药快速上扬。 分板块看， PEEK材料、电力、宠物经济、银行等板块涨幅居前 ，次新股、软件开发、算力等板块跌幅居前。 伦敦现货黄金今日上涨。A股黄金股普遍回落，晓程科技跌超3%，西部黄金跌超2%。 | < w | 黄金(882415) | | | | --- | --- | --- | --- | | | 39798.44 -307.56 -0.77% | | | | 资料 | 成分 资讯 | | 相关基金 | | 名称 | | 现价 | 涨跌幅 -- | | 晓程科技 | | 18.59 | -3.83% | | 300139.SZ | | | | | 世部黄金 | | 18.22 | -2.72% | | 601069.SH | | | | | 赤峰黄金 | | 27.65 | -1.85% | | 600988.SH | | | | | 湖南黄金 | | 23.23 | -1.53% | | 00 ...

新股方面，今天A股市场有两只新股上市，悉数大幅上涨，其中新股江顺科技（001400）盘中涨幅一度超过120%。 港股市场盘中走低，不过仍有不少股票大涨，其中凯莱英（002821）港股盘中一度大涨超19%。 CXO、维生素、电力等板块逆市走强。 今天上午A股市场整体窄幅震荡，电力、CXO、维生素等概念板块走强。 A股市场窄幅震荡 今天上午A股市场整体窄幅震荡走低。截至午间收盘，上证指数跌0.1%，深证成指跌0.66%，北证50指数跌2.8%，创业 板指跌0.68%。 主要行业板块和赛道方面，日用化工、煤炭、造纸、农林牧渔等板块涨幅居前。软件服务、互联网、矿物制品、IT设 备等板块跌幅居前。 | 电力板块走强，华银电力（600744）、西昌电力（600505）、郴电国际（600969）等多股涨停，另有多股大幅上涨。 | | --- | | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | | --- | --- | --- | --- | --- | | 600744 | 华银电力 | 3.85 | 0.35 | 10.00% | | 600505 | 西昌电力 | 17.31 | 1.57 | 9.97% ...

Core Viewpoint - The A-share market experienced a narrow fluctuation today, with certain sectors such as electricity, CXO, and vitamins showing strength despite the overall market trend [2][6]. Group 1: Market Performance - The A-share market showed a slight decline, with the Shanghai Composite Index down 0.1%, the Shenzhen Component down 0.66%, the North Star 50 Index down 2.8%, and the ChiNext Index down 0.68% [6]. - The electricity sector performed well, with stocks like Huayin Power, Xichang Power, and Chenzhou International reaching their daily limit up [7][8]. - New stocks listed today saw significant gains, with Jiangshun Technology's intraday increase exceeding 120% [3][15]. Group 2: Sector Highlights - The electricity sector saw notable gains, with multiple stocks experiencing significant increases, including Huayin Power at 10% up, Xichang Power at 9.97% up, and Chenzhou International at 9.95% up [8]. - The CXO sector also showed strong performance, with Jin Kai Sheng Ke hitting the daily limit up and other stocks like Hehua Co., Kailai Ying A-shares, and Lingkang Pharmaceutical also reaching their limits [10]. - The vitamin sector demonstrated a clear upward trend, contributing to the overall strength of the market [8]. Group 3: New Stock Listings - Two new stocks were listed today, both experiencing substantial increases, with Jiangshun Technology's stock price rising significantly [14][15]. - Tian You Wei, another new stock, saw its price increase by nearly 50% during the trading session [16]. Group 4: Hong Kong Market - The Hong Kong market experienced a decline, with the Hang Seng Index dropping over 1% [17][19]. - Despite the overall downturn, stocks like New Oriental saw significant gains, with an intraday increase exceeding 6% following the release of their financial results [20].