Group 1 - The terahertz concept sector declined by 3.40%, ranking among the top declines in concept sectors, with companies like Shaanxi Huada, Wanxun Zikong, and Shuo Beide experiencing significant drops [1] - The terahertz sector saw a net outflow of 1.994 billion yuan in main funds today, with 18 stocks experiencing net outflows, and 6 stocks seeing outflows exceeding 100 million yuan [2] - The stock with the highest net outflow was ZTE Corporation, with a net outflow of 414 million yuan, followed by Shuo Beide, Hengtong Optic-Electric, and Haige Communication [2] Group 2 - The top stocks in the terahertz concept sector by net outflow include ZTE Corporation (-2.04%), Shuo Beide (-5.33%), and Hengtong Optic-Electric (-2.38%) [3] - Other notable declines in the sector include Shaanxi Huada (-6.54%) and Lei Ke Defense (-5.11%), while Changfei Fiber saw an increase of 6.11% [2][3] - The trading volume for ZTE Corporation was 7.17%, while Shuo Beide had a turnover rate of 20.05% [3]

Group 1 - The Terahertz concept sector increased by 3.01%, ranking 7th among concept sectors, with 13 stocks rising, including Changfei Optical Fiber which hit the daily limit, and Tianyin Electromechanical, Chuangyuan Xinke, and Hengtong Optic-Electric showing significant gains of 9.17%, 8.48%, and 7.96% respectively [1] - The Terahertz concept sector experienced a net outflow of 935 million yuan, with 10 stocks seeing net inflows, and 5 stocks receiving over 100 million yuan in net inflows, led by Hengtong Optic-Electric with a net inflow of 298 million yuan [2] - In terms of capital inflow ratios, Changfei Optical Fiber, Shenglu Communication, and Hengtong Optic-Electric had the highest net inflow rates at 36.14%, 10.11%, and 9.21% respectively [3] Group 2 - The top gainers in the Terahertz concept included Hengtong Optic-Electric with a 7.96% increase, and Tianyin Electromechanical with a 9.17% increase, while the top losers included Taihao Technology with a 3.04% decrease [4] - The overall performance of the Terahertz concept was part of a broader market trend, with various sectors experiencing mixed results, such as Rare Earth Permanent Magnets rising by 4.88% and the Horse Racing concept declining by 0.49% [2]

Group 1 - The fentanyl concept sector increased by 1.24%, ranking second in terms of sector gains, with one stock, Botao Bio, hitting a 20% limit up [1][2] - The main stocks in the fentanyl sector experienced mixed performance, with notable declines in Renfu Pharmaceutical, Oriental Bio, and Guoyao Modern, which fell by 3.16%, 2.59%, and 1.23% respectively [1][2] Group 2 - The fentanyl concept sector saw a net inflow of 50 million yuan, with four stocks receiving significant inflows, led by Botao Bio with a net inflow of 51.6459 million yuan [2][3] - The net inflow ratios for Botao Bio, Oriental Bio, and Wanfu Bio were 11.85%, 5.85%, and 5.04% respectively, indicating strong interest from main funds [3]

Market Overview - The Shanghai Composite Index has achieved a four-day winning streak, reaching a new high for the year at 3639.67 points, with a slight increase of 0.16% [2][4] - The Shenzhen Component Index closed at 11157.94 points, down by 0.18% [2] - The market showed mixed performance, with over 3000 stocks declining, indicating a lack of significant profit-making opportunities [4] Sector Performance - The top-performing sectors included Non-ferrous Metals (1.20%), Beauty Care (0.99%), Real Estate (0.82%), Textiles and Apparel (0.81%), and Transportation (0.73%) [3][4] - Conversely, the worst-performing sectors were Pharmaceutical Biology (-0.92%), Electric Equipment (-0.74%), Communication (-0.47%), Defense and Military Industry (-0.39%), and Household Appliances (-0.29%) [3][4] - Concept indices that performed well included Rare Earth Permanent Magnet (3.24%), Brain-Computer Interface (2.69%), Hyperbaric Oxygen Chamber (2.56%), Terahertz (1.65%), and Blood Oxygen Monitor (1.62%) [3][4] Economic Indicators - In July, China's total imports and exports reached 3.91 trillion yuan, marking a growth of 6.7%. Exports were 2.31 trillion yuan, up by 8%, while imports were 1.6 trillion yuan, increasing by 4.8% [4] - The Ministry of Industry and Information Technology and other departments issued opinions to promote the development of the brain-computer interface industry [4] Future Outlook - The overall market trend remains strong, supported by a recovery in the funding environment and fundamentals, with the margin financing balance returning to over 2 trillion yuan, indicating rising market confidence [4] - However, the Shanghai Composite Index is approaching previous high levels, suggesting potential selling pressure in the near term [4] - Recommended sectors for future investment include Financials, Non-ferrous Metals, Construction Decoration, Agriculture, Forestry, Animal Husbandry, and Machinery Equipment [4]

Group 1 - The Terahertz concept sector rose by 1.65%, ranking fourth among concept sectors, with 10 stocks increasing in value, led by ShuoBeide which hit a 20% limit up [1] - Notable gainers in the Terahertz sector include Chuangyuan Xinke, Saiwei Electronics, and Shaanxi Huada, which rose by 4.96%, 3.97%, and 3.88% respectively [1] - The sector experienced a net inflow of 0.80 billion yuan from main funds, with ShuoBeide receiving the highest net inflow of 6.22 billion yuan [2][3] Group 2 - The main fund inflow ratios for ShuoBeide, Shaanxi Huada, and Saiwei Electronics were 16.10%, 11.75%, and 8.58% respectively, indicating strong investor interest [3] - The top stocks in the Terahertz concept based on fund inflow include ShuoBeide, Saiwei Electronics, and Shaanxi Huada, with significant trading volumes and turnover rates [3] - The overall market saw declines in other sectors, with notable losers including Tianhai Defense and LeiKe Defense, which fell by 1.75% and 1.61% respectively [1][4]

Market Overview - The three major indices closed higher, with the Shanghai Composite Index at 3583.31, up 0.66% [2] - The Shenzhen Component Index closed at 11041.56, increasing by 0.46% [2] - The CSI 300 Index ended at 4070.70, rising by 0.39% [2] - The ChiNext Index reached 2334.32, up 0.50% [2] - The STAR 50 Index closed at 1049.41, with a gain of 1.22% [2] - The Beijing Stock Exchange 50 Index finished at 1433.25, increasing by 0.96% [2] Sector Performance - The top-performing sectors included Defense and Military Industry (+3.06%), Machinery Equipment (+1.93%), and Nonferrous Metals (+1.87%) [3] - The sectors with the lowest performance were Retail Trade (-0.46%), Oil and Petrochemicals (-0.36%), and Social Services (-0.21%) [3] - Concept sectors showing strong performance included Military-Civilian Integration (+3.53%) and Aerospace Engine (+3.47%) [3] - Underperforming concept sectors included Dairy Industry (-0.46%) and Animal Vaccines (-0.39%) [3] Future Outlook - The market showed a mixed performance with over 3800 stocks rising, indicating a positive market sentiment [4] - Key sectors to watch include Machinery Equipment, Finance, Public Utilities, and Construction Decoration [5] - The recent tax policy from the State Taxation Administration provides a VAT exemption for individuals purchasing government bonds up to 100,000 yuan monthly until December 31, 2027, which may stimulate market activity [4] - The U.S. Trade Representative confirmed that new tariffs on imports from several countries are largely finalized, which could impact market dynamics [5]

Core Viewpoint - The Terahertz concept sector has shown a significant increase of 3.40%, ranking sixth among concept sectors, with 19 stocks rising, including Aerospace Electronics which hit the daily limit, and other notable gainers such as Shaanxi Huada, Saiwei Electronics, and Tianhe Defense [1][2]. Market Performance - The Terahertz concept sector received a net inflow of 1.079 billion yuan, with 12 stocks experiencing net inflows, and 6 stocks seeing inflows exceeding 50 million yuan. Aerospace Electronics led with a net inflow of 491 million yuan, followed by Haige Communication, Saiwei Electronics, and Tianhai Defense with net inflows of 227 million yuan, 127 million yuan, and 98.08 million yuan respectively [2][3]. Stock Performance - Key stocks in the Terahertz concept sector include: - Aerospace Electronics: 9.99% increase, 38.42% net inflow ratio - Haige Communication: 4.62% increase, 10.55% net inflow ratio - Saiwei Electronics: 5.51% increase, 10.61% net inflow ratio - Tianhai Defense: 4.15% increase, 10.88% net inflow ratio - Tianyin Machinery: 2.85% increase, 11.81% net inflow ratio - Taihao Technology: 4.03% increase, 11.15% net inflow ratio [3][4].

- The report discusses the market performance of various indices, including the Shanghai Stock Exchange 50 Index, which performed well with a rise of 0.58%[6] - The report highlights the performance of sector indices, noting that the banking, comprehensive finance, media, steel, and pharmaceutical industries performed well, with returns of 1.85%, 1.13%, 0.72%, 0.52%, and 0.41%, respectively[7] - The report provides data on market sentiment, including the number of stocks that hit their daily limit up and down, with 41 stocks hitting the limit up and 13 stocks hitting the limit down at the close of trading[12] - The report includes information on the financing and securities lending balance, which stood at 18,591 billion yuan as of July 3, 2025, with a financing balance of 18,464 billion yuan and a securities lending balance of 127 billion yuan[16] - The report discusses the premium and discount rates of ETFs, noting that the innovative drug ETF Huatai Bairui had the highest premium at 0.92%, while the Kechuang New Materials ETF Huatai Bairui had the highest discount at 0.74%[20] - The report provides data on block trading, noting that the average daily transaction amount over the past six months was 1.2 billion yuan, with the transaction amount on July 3, 2025, being 1.8 billion yuan and the average discount rate over the past six months being 5.75%[23] - The report discusses the annualized discount rates of stock index futures, noting that the annualized discount rates of the main contracts of the Shanghai Stock Exchange 50, CSI 300, CSI 500, and CSI 1000 stock index futures were 3.86%, 5.27%, 15.75%, and 14.40%, respectively, on July 4, 2025[25] - The report provides data on institutional attention and the Dragon and Tiger list, noting that the stocks with the highest net inflows from institutional seats were Shenzhou Cells, Xice Testing, Longyang Electronics, Guangsheng Tang, Nanling Technology, Rejing Biology, Desheng Technology, Yihong New Materials, Xuedilong, and Canning Power[27][30][33] - The report includes data on the net inflows and outflows of stocks from the Shanghai-Hong Kong Stock Connect, noting that the stocks with the highest net inflows were Beijing New Pharmaceuticals, Hengbao Shares, Bomin Electronics, Longyang Electronics, Guangsheng Tang, and Shenzhou Cells[34]

Group 1 - The Artemisinin concept index increased by 0.65%, ranking 10th among concept sectors, with four stocks rising, including Haizheng Pharmaceutical which hit the daily limit, and Zhejiang Medicine, Huaren Shuanghe, and Baiyunshan also showing gains of 0.79%, 0.69%, and 0.08% respectively [1] - The leading decliners in the sector included Rundu Co., New Harmony, and Kunming Pharmaceutical, which fell by 1.41%, 1.36%, and 1.17% respectively [1] - The net inflow of main funds into the Artemisinin concept sector was 95 million yuan, with Haizheng Pharmaceutical receiving the highest net inflow of 105 million yuan, followed by Zhejiang Medicine, New Harmony, and Baihua Pharmaceutical with net inflows of 25.71 million yuan, 9.91 million yuan, and 2.14 million yuan respectively [2][3] Group 2 - In terms of fund inflow ratios, Haizheng Pharmaceutical, Zhejiang Medicine, and Baihua Pharmaceutical had the highest net inflow rates of 9.03%, 5.48%, and 2.27% respectively [3] - The trading performance of key stocks in the Artemisinin concept included Haizheng Pharmaceutical with a daily increase of 10.02% and a turnover rate of 9.22%, while Zhejiang Medicine rose by 0.79% with a turnover rate of 3.19% [3][4] - Other stocks such as New Harmony and Baihua Pharmaceutical experienced declines of 1.36% and 0.41% respectively, with turnover rates of 1.04% and 3.34% [3][4]

Market Overview - A-shares experienced a rebound on June 30, with the ChiNext Index leading the gains. The Shanghai Composite Index closed at 3431.18 points, up 0.20%, with a trading volume of 346.8 billion yuan. The Shenzhen Component Index rose 0.54% to 10434.48 points, with a trading volume of 567.5 billion yuan. The ChiNext Index increased by 0.93% to 2144.06 points, with a trading volume of 281 billion yuan [1] Sector Performance - The gaming sector saw significant strength, with stocks like Kaiying Network and Giant Network hitting the daily limit. The military industry continued its strong performance, with nearly 20 stocks, including Great Wall Military Industry, also hitting the daily limit. The semiconductor industry chain rose, with stocks like Haoshanghao and Chengbang shares reaching the daily limit. Conversely, bank stocks continued to adjust, with Qingdao Bank dropping over 2% [1][2] Institutional Insights - CITIC Securities noted that the recent popularity of YU7 and Europe's delay in banning oil vehicles signify a shift towards product capability over product form, accelerating the global electrification process. The upcoming third quarter may see a focus on the full industrial chain's monetization capabilities in the electrification sector and advancements in AI. The resumption of IPOs for tech companies in A-shares could redirect market attention towards the tech sector, potentially continuing the trends seen in innovative pharmaceuticals and new consumption [3] - According to招商证券, the market may experience an upward breakthrough in July, with aggressive sectors like technology and non-bank financials outperforming. Improved fiscal indices and resilient consumption are expected to enhance total demand growth in the second quarter, leading to potential performance improvements in the upcoming mid-year report period across technology, consumption, and midstream manufacturing sectors [3] Commodity Insights - According to GF Securities, coal prices have been stable and are expected to rise further. The inventory levels across various segments have been declining since June, and seasonal demand is anticipated to increase after July, with limited growth in supply. The domestic spot prices for coking coal have shown slight recovery, driven by production cuts in major producing areas and increased downstream replenishment [4] Economic Indicators - The manufacturing Purchasing Managers' Index (PMI) for June in China was reported at 49.7%, marking a continuous increase for two months. This indicates an improvement in the manufacturing sector's economic conditions, with 11 out of 21 surveyed industries in the expansion zone, an increase of four from the previous month [5] ETF Market Dynamics - The scale of the CSI A500 ETF reached approximately 210 billion yuan, with the total number of products increasing to 35. The Huatai-PB CSI A500 ETF leads with a scale of 20.256 billion yuan, surpassing the Guotai CSI A500 ETF at 18.649 billion yuan. Other ETFs from firms like Harvest, Huaxia, and Southern also maintain scales above 10 billion yuan, indicating ongoing competition among leading firms in the A500 market [6]