11月24日，金太阳盘中上涨2.22%，截至11:20，报21.65元/股，成交4105.15万元，换手率1.63%，总市 值29.95亿元。 资金流向方面，主力资金净流出242.93万元，大单买入481.47万元，占比11.73%，卖出724.41万元，占 比17.65%。 金太阳今年以来股价涨13.52%，近5个交易日跌5.66%，近20日跌19.90%，近60日跌10.94%。 资料显示，东莞金太阳研磨股份有限公司位于广东省东莞市大岭山镇大环路1号，成立日期2004年9月21 日，上市日期2017年2月8日，公司主营业务涉及新型精密抛光材料、高端智能装备研发生产销售以及精 密结构件制造服务业务,为客户提供精密抛光与精密结构件制造综合解决方案。主营业务收入构成为： 纸基/布基抛光材料60.74%，智能数控装备及精密结构件24.77%，新型抛光材料14.22%，其他0.27%。 金太阳所属申万行业为：机械设备-通用设备-磨具磨料。所属概念板块包括：算力概念、芯片概念、工 业母机、第三代半导体、消费电子等。 截至9月30日，金太阳股东户数1.57万，较上期减少8.80%；人均流通股7486股，较上期增加8.0 ...

04 供给端 02 期现市场 05 需求端 高价抑制下游需求， 预计锡价震荡为主 锡周报 2025/11/22 刘显杰（联系人） 0755-23375125 liuxianjie@wkqh.cn 交易咨询号：Z0015924 从业资格号：F03130746 吴坤金（有色金属组） 从业资格号：F3036210 CONTENTS 目录 01 周度评估及策略推荐 03 成本端 06 供需平衡 01 周度评估及策略推荐 周度评估及策略推荐 ◆ 成本端：10月国内进口锡精矿增量明显，国内原料端供应紧缺略有缓解。根据中国海关公布的数据，10月锡矿砂及其精矿进口量11632实物 吨（折合约4938金属吨），同比下降15.74%，环比增加43.36%。其中从缅甸的进口量为2367吨（折合约861金属吨），同比下降43.64%，环 比增加1.50%；除缅甸外10月从其他国家合计进口量为9266吨（折合约4077金属吨），同比下降5.90%，环比增加57.05%。 ◆ 供给端：缅甸佤邦锡矿复产进度缓慢，出口量维持低位，云南地区冶炼企业原材料紧张现象仍存，短期开工率持稳，但进一步上行动力不足。 江西地区则因废料显著减少，粗锡供应不 ...

来源：新浪证券-红岸工作室 11月21日，英集芯跌5.54%，成交额1.34亿元，换手率1.65%，总市值79.34亿元。 异动分析 汽车芯片+无线耳机+消费电子概念+芯片概念+专精特新 1、根据2025年4月29日公告：在汽车电子领域，公司成功研发符合AEC-Q100标准的车规级车充芯片， 并顺利导入国内外汽车厂商，完成规模量产。 2、2022年3月29日招股书显示英集芯的TWS耳机充电仓芯片能够以单颗芯片为TWS耳机充电仓提供高 集成度的电源解决方案,支持MCU软件深度定制,可降低客户的设计复杂度和物料成本。英集芯专门为 TWS耳机充电仓设计的电源管理芯片不仅支持电源管理功能,还集成了双向通讯功能和内部通讯隔离功 能。 3、目前，公司基于在移动电源（即充电宝）、快充电源适配器（即充电器、充电头）等应用领域的优 势地位，成为了消费电子市场主要的电源管理芯片和快充协议芯片供应商之一。 4、公司的主营业务为为电源管理、快充协议芯片的研发和销售。主要产品是电源管理芯片、快充协议 芯片。 公司简介 资料显示，深圳英集芯科技股份有限公司位于广东省珠海市香洲区唐家湾镇港湾1号港7栋三楼，成立日 期2014年11月20日 ...

ETF方面，华夏基金豆粕ETF涨0.45%，领涨市场。博时基金龙头家电ETF涨0.09%。债券ETF逆势上 扬，科创债ETF景顺、科创债ETF鹏华和科创债ETF博时分别涨0.05%、0.04%和0.04%。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 格隆汇11月21日｜A股三大指数集体调整，截至午盘，沪指跌1.88%，深成指跌2.72%，指跌3.18%，沪 深京三市半日成交额13174亿元，较上日放量2004亿元。全市场超4900只个股下跌。锂电池产业链全线 下挫；算力硬件题材集体回调，存储器、CPO方向领跌；光伏、英伟达、稳定币、消费电子、半导体概 念股跌幅靠前。市场近5000股下跌。 稀有金属板块遭重挫，稀有金属ETF、稀有金属ETF基金分别跌7.05%、6.99%。半导体板块下挫，中韩 半导体ETF跌6.06%。板块全线飘绿，科创新能源ETF、科创板新能源ETF均跌5.8%。 ...

Core Viewpoint - The company, Baotou Yinstar Rare Magnetic New Materials Co., Ltd., is focusing on research and development in 2025, particularly in the areas of non-heavy rare earth development and applications across multiple fields, including the electric vehicle sector [2][3]. Group 1: Research and Development Focus - In 2025, the company's R&D will concentrate on three main areas: the development and application of non-heavy rare earths to reduce reliance on medium and heavy rare earths, optimization of production processes and technology to enhance efficiency and product performance, and deepening applications in consumer electronics, electric vehicles, high-end motors, and robotics [2][3]. Group 2: Electric Vehicle Sector - The company's products in the electric vehicle sector are primarily used in safety control systems, sensor systems, and auxiliary function components. Current mass production projects have achieved stable supply, and the company is actively expanding its customer base and new projects, with some new projects entering the sample testing phase [3]. Group 3: Consumer Electronics - Orders for magnetic components in the consumer electronics sector exhibit significant seasonality, closely linked to the product release cycles of end customers. If customers plan to launch new products in the first half of the year, mass production typically occurs in the previous year's fourth quarter or the first quarter of the current year; for launches in the second half, mass production is concentrated in the second and third quarters of the current year [4]. Group 4: Profit Margins - The company indicates that the gross margin of magnetic components in the consumer electronics sector varies significantly due to factors such as product type, process design, and material prices, and is not strictly correlated with the type of end product [5]. Group 5: Core Customer Collaboration - The company is deepening collaboration with existing core customers, expanding both the breadth and depth of cooperation. This includes aligning with customer capacity planning, participating in new project development, and securing orders. The rise of innovative products like foldable screens is expected to enhance the value of upstream core components, allowing the company to expand its supply categories and scale due to its responsive R&D system and stable product quality [6].

证券代码：301622 股票简称：英思特 包头市英思特稀磁新材料股份有限公司 投资者关系活动记录表 编号：2025-014 | ☑ 投资者关系活动 | 特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及 | 中邮证券有限责任公司 翟一梦 | | 人员姓名 | 金鹰基金管理有限公司 何欢 | | 时间 2025 | 年 11 月 20 日 10:00-11:00 | | 地点 | 线上会议 | | 上市公司接待人 | 董事会秘书范立忠先生、证券事务代表雷永龙先生、IR 及综 | | 员姓名 | 合专员吕淑诣女士 | | | 2025 年 11 月 20 日 10:00-11:00 中邮证券有限责任公司 | | | 翟一梦，金鹰基金管理有限公司何欢对包头市英思特稀磁新材 | | | 料股份有限公司进行线上调研，主要内容如下： | | | 1、问：公司 2025 年研发项目的重点和主要业务方向？ | | | 答：公司 2025 年的研发 ...

Market Overview - The Hong Kong stock market showed signs of recovery with the Hang Seng Index rising by 0.02%, while the Hang Seng China Enterprises Index fell by 0.08% and the Hang Seng Tech Index dropped by 0.58%, marking five consecutive days of decline [1] - Market sentiment remains low, but there are indications of a potential rebound [1] Sector Performance - Major technology stocks such as Baidu, Meituan, and Kuaishou saw gains, with Baidu up by 2.43% and Kuaishou up by 2.28%, while Xiaomi continued to decline, dropping nearly 3% to a new low [3][5] - Financial stocks, including banks and insurance companies, performed actively, with several Chinese brokerage stocks showing gains despite a high open and subsequent decline [3][9] - The real estate sector remained strong in the afternoon, with Sunac China and Zhongliang Holdings leading the gains [3][8] - The biopharmaceutical, home appliance, and aviation sectors also showed relative activity [3] Real Estate Market Insights - According to Centaline Property, Hong Kong's residential market recorded over 1,700 transactions in October, marking the ninth consecutive month of over 1,000 transactions, matching the longest record from March to November 2019 [7] - The month also saw at least 64 transactions exceeding HKD 50 million, totaling over HKD 6.8 billion, a new high for the year [7] - Major international banks, including Morgan Stanley and Citigroup, predict a recovery in the Hong Kong real estate market post-2025 [7] Brokerage Sector Developments - Chinese brokerage stocks saw significant increases, with Financial Street Securities rising over 4% [9][10] - The announcement of major asset restructuring plans by several brokerages is expected to enhance industry consolidation and competitiveness [9] Semiconductor Sector Activity - The semiconductor sector was active, with stocks like Contrelon rising over 8% [10][12] - Reports indicate that the U.S. may delay the imposition of long-promised semiconductor tariffs, which could impact the sector positively [11] New Energy Material Sector Decline - The new energy materials sector faced declines, with companies like China Silicon Corporation dropping over 16% [13] - The lithium battery sector also saw significant drops, with CATL falling by 5.66% [14][15] Coal Sector Insights - Coal prices have risen above RMB 830 per ton, but short-term price increases may be stabilizing [16] - The coal industry's supply-demand dynamics have fundamentally shifted since May, indicating a long-term upward trend in coal prices [16] Individual Stock Highlights - Gakos-B surged by 19.97% following the approval of its self-developed KRAS G12C inhibitor for commercialization [18] - Southbound capital saw a net inflow of HKD 15.992 billion, indicating strong investor interest [21] Future Market Outlook - CITIC Securities anticipates that the Hong Kong stock market will benefit from internal and external economic policies, predicting a second round of valuation recovery and performance resurgence by 2026 [23] - Suggested investment directions include technology sectors, healthcare, resource commodities, essential consumer goods, and sectors benefiting from RMB appreciation [23]

消费电子行业正迎来AI驱动的新一轮迭代周期，手机、智能穿戴等终端成为AI应用最佳入口。Canalys 预测2028年AI手机出货占比将过半，终端集成度提升推动高阶PCB需求激增。 在巨大的产业增量背景下，AI终端对PCB的高密度、高频高速特性提出刚性需求。 科翔股份作为国内全品类PCB龙头，消费电子营收占比近20%，其通过"直接绑定头部品牌+ODM间接 渠道"的双重布局，深度嵌入中兴通讯、小米等主流品牌供应链，有望在行业超级周期中实现量利齐 升。 全力抢抓AI手机机遇 在智能硬件领域，与海康威视、大华股份的合作持续深化，产品覆盖安防摄像头等终端；同时为大疆消 费级无人机供应高频PCB，技术认可度经实战验证。2024年存量客户单批次订单量同比提升，采购份额 持续扩大，头部效应凸显。 比如，科翔股份与中兴通讯从2020年开始合作，已有5年时间。从2024年开始产品订单类型升阶，主要 合作应用于手机、通讯设备、功放等领域的中高端PCB产品，单价稳步上升。 同时，科翔股份也以间接供货形式，借道ODM触达多个AI消费电子及AI手机终端。 据悉，通过与龙旗、闻泰科技达成深度合作，科翔股份成功切入ODM供应链核心环节，此外 ...

11月20日，智动力（维权）盘中下跌2.06%，截至14:09，报14.76元/股，成交5906.50万元，换手率 2.32%，总市值38.47亿元。 资金流向方面，主力资金净流出570.04万元，特大单买入0.00元，占比0.00%，卖出261.05万元，占比 4.42%；大单买入709.42万元，占比12.01%，卖出1018.42万元，占比17.24%。 智动力今年以来股价涨69.07%，近5个交易日跌4.90%，近20日跌0.47%，近60日涨10.40%。 截至11月10日，智动力股东户数1.84万，较上期减少14.86%；人均流通股9230股，较上期增加17.46%。 2025年1月-9月，智动力实现营业收入11.97亿元，同比增长6.03%；归母净利润-6445.38万元，同比增长 19.96%。 分红方面，智动力A股上市后累计派现4863.84万元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，智动力十大流通股东中，大成中证360互联网+指数A（002236） 退出十大流通股东之列。 责任编辑：小浪快报 今年以来智动力已经3次登上龙虎榜，最近一次登上龙虎榜为8月26日， ...

Group 1 - The Hang Seng Tech Index has decreased by 0.82% as of November 20, 2025, with mixed performance among constituent stocks, where Baidu Group-SW led with a rise of 2.79% and Kingsoft fell by 8.98% [1] - Kuaishou Technology reported a 14.2% year-on-year revenue growth in Q3, reaching 35.6 billion yuan, with operating profit increasing by 69.9% to 5.3 billion yuan [1] - The Hang Seng Tech Index ETF has seen a 4.59% increase over the past three months, with a current trading price of 0.8 yuan [1] Group 2 - CITIC Securities predicts a rebound in the Hong Kong stock market in 2026, driven by a recovery in fundamentals and significant valuation discounts [2] - The report suggests five long-term investment directions, including the technology sector, healthcare, resource commodities, essential consumer goods, and sectors benefiting from RMB appreciation [2] Group 3 - The latest size of the Hang Seng Tech Index ETF is 4.278 billion yuan [3] - The ETF has reached a new high with 5.639 billion shares outstanding, and has seen continuous net inflows over the past 15 days totaling 69.6169 million yuan [4] - The top ten weighted stocks in the Hang Seng Tech Index account for 68.89% of the index, including Alibaba-W, SMIC, and Tencent Holdings [4]