ERN 2 - 1 1 - 1 行业日报 | 北交所 上涨势态延续,锦波生物拟定增引入养生堂 证券研究报告 2025年06月30日 北交所市场点评 -- 20250627 · 核心结论 行情回顾:1)指数层面:6月27日北证A股成交金额达 347.6亿元,较上 一交易日下跌 55.1 亿元,指数收涨 1.06%。2)个股层面:当日北交所 268 家公司中 152 家上涨,7家平盘,109家下跌。其中涨幅前五的个股分别为: 国源科技(16.5%)、天马新材(11.8%)、林泰新材(10.8%)、九菱科 技(10.3%)、雅葆轩(10.2%):跌幅前五的个股分别为:优机股份(-14.8%)、 云创数据(-8.7%)、同辉信息(-8.3%)、方正阀门(-6.8%)、三友科技 (-6.6%)。 | 分析师 | | --- | | 曹森元 S0800524100001 | | 19821289688 | | caosenyuan@research.xbmail.com.cn | | 相关研究 | | 北交所:北证三连阳,情绪高涨,广信科技上 市 - 北 交 所 市 场 点 评 -- 20250625 | | 2025- ...

2025首届硫化物全固态电池国 际峰会暨展览会议程 主办方：起点固态电池、SSBA全固态电池联盟、起点研究 SPIR 总冠名: 茹天科技 CATALOGUE 生产工艺革新 02 03 04 · 1111 01111 | 01 活动背景与意义 | | --- | | 02 核心技术议题 | | 03 议程框架设计 | | 04 活动组织架构 | | 05 宣传推广方案 | CHAPTER 论坛背景与意 · 2121 硫化物全固态电池技术发展现状分 · 能量密度快速提升: 硫化物全固态电池能量密度预计从2025年的350Wh/kg提升至2030年的500Wh/kg，年均复合 增长率达7.4%,显著高于液态锂电池进步速度。 · 商业化节奏加速: 关键节点2026年实现规模化生产（原计划2027年），反映技术突破超预期（如电解质电导率>10 mS/cm、界面稳定性提升）。 · 中日技术路线趋同: 中日企业均聚焦硫化物路线，中国2024年专利申请量达日本三倍，但日本在基础专利仍占全球 40%，显示产业化竞争白热化。 · 政策驱动明确: 国内设定2027年装车节点，企业进度普遍提前半年（如60Ah电芯2025年下线），验 ...

Group 1: IPO Market - In the first half of the year, 134 companies were accepted for IPOs in A-shares, a year-on-year increase of 362.07% [1] - The Beijing Stock Exchange was the main contributor with 83 companies accepted, followed by the ChiNext (19), Sci-Tech Innovation Board (15), Shenzhen Main Board (9), and Shanghai Main Board (8) [1] - June was a significant month for IPOs, with 107 companies accepted, accounting for 79.85% of the total for the first half of the year [1] Group 2: Solar Glass Industry - Leading domestic solar glass companies plan to collectively reduce production by 30% starting in July to alleviate "involution" competition [1] - This reduction is expected to lead to a rapid decline in domestic solar glass supply, improving the supply-demand imbalance [1] - Domestic glass production is projected to decrease to approximately 45 GW in July [1] Group 3: Global Server Market - IDC forecasts that the global server market will reach $366 billion by 2025, representing a year-on-year growth of 44.6% [1] - The x86 server market is expected to grow by 39.9% to $283.9 billion, while the non-x86 server market is projected to grow by 63.7% to $82 billion [1] - Arm architecture servers are anticipated to grow at a rate of 70%, accounting for 21.1% of total shipments [1] Group 4: Automotive LED Market - The automotive LED and lighting market is expected to grow to $3.451 billion and $35.729 billion, respectively, by 2025 [2] - The recovery in the automotive market is anticipated in the second half of 2025, driven by the introduction of advanced technologies in new vehicle models [2] Group 5: Tesla Charging Stations - Tesla has launched its first batch of V4 supercharging stations, which are now operational in various locations including Shanghai and Gansu [2] - These charging stations feature multiple safety mechanisms and are now open to non-Tesla vehicles [2] Group 6: Market Performance - The A-share market saw a 2.76% increase in the Shanghai Composite Index in the first half of the year, while the North Exchange 50 Index surged by 39.45% [6] - Various sectors, including AI, humanoid robots, new consumption, innovative drugs, and solid-state batteries, attracted significant investment [6] - Over 3,700 stocks in the market rose in the first half, with more than 100 stocks increasing by over 100% [6]

本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 小米YU7点爆市场，大定量和锁单量超出市场预期，刷新市场纪录，随后港股小米股价涨超9%，市值一度超1.7万亿港元。值得关注的是，小米 的热度还吹向了私募，知名私募掌门人围绕小米及小米YU7展开辩论。 百亿主观私募海南希瓦梁宏已成为小米YU7大定的20万分之一，并且还想成为20万分之二，此外， 梁宏还将小米形象比喻为 "中国的苹果+特斯 拉" 。值得关注的是，4月份梁宏旗下私募产品出现回撤，其中或许有追涨港股小米的原因， 不过随着近期 YU7的发布，小米股价再创新高，近 1个月梁宏业绩迎来明显反弹。 图片来源：社交平台。 根据私募排排网数据，截至6月20日，梁宏旗下有业绩显示的23只产品，合计规模为40.85亿元，近1个月收益均值为 ***% ，近半年收益均值为 ***% ，其中梁宏管理的"希瓦小牛雪球"近半年收益为 ***% ，表现较为突出。（ 点此查看收益 ） [应监管要求，私募产品不能公开展示业绩，文中涉及收益数据用***替代，合格投资者可扫码查看收益数据。] | 2 | 希瓦小牛19号 | like l | 50-100亿 | 主观多头 | ...

Market Overview - On June 30, A-shares saw all three major indices rise, with the Shanghai Composite Index up by 0.59%, the Shenzhen Component Index up by 0.83%, and the ChiNext Index up by 1.35% [1] - The STAR Market Composite Index led the gains with an increase of 1.70% [2] - Over 4,000 stocks in the market experienced an increase [1] Hong Kong Market - On the same day, major indices in the Hong Kong stock market collectively declined, with the Hang Seng Technology Index down by 0.72% [4] - The Hang Seng Index fell by 0.87% [5] Sector Performance - The defense and military sector saw the highest gains, with an increase of 4.35%, followed by media at 2.82% and telecommunications at 1.90% [7] - In contrast, non-bank financials decreased by 0.77%, banks by 0.34%, and transportation by 0.09% [7] Industry Highlights Solid-State Battery Technology - A pilot project for all-solid-state battery electric bicycles was launched in Beijing, marking a significant step towards the commercialization of solid-state battery products [8] - Century Securities reported that the solid-state battery industry is progressing towards commercialization, with a recent announcement from a U.S. company indicating a 25-fold increase in heat treatment speed, leading to a 76.67% increase in stock prices over two days [8] Defense and Military Sector - There has been a significant inflow of capital into the defense and military sector, with the Defense ETF rising by 4.88% [9] - Northeast Securities highlighted the long-term growth certainty of the defense and military sector, noting that the industry is expected to recover as demand increases and structural capacity improves [9]

【CNMO科技消息】6月30日，A股市场迎来了2025年上半年的最后一个交易日。当天沪深两市成交额 达到了1.49万亿元人民币，虽然较前一交易日有所减少，但市场的积极情绪并未受到影响。截至收盘， 上证指数上涨了0.59%，深证成指上升了0.83%，创业板指则录得了1.35%的增长，而北证50指数也实现 了0.52%的涨幅。 回顾整个上半年，中国股市表现出了强劲的增长势头。上证指数累计上涨了2.76%，而北证50指数更是 大涨了39.45%，一度刷新了历史最高纪录。此外，国证2000指数也取得了超过10%的涨幅，显示出中小 盘股的优异表现。据统计，全市场有超过3700只股票在上半年实现了正收益，其中超过一百只个股涨幅 超过了100%。联合化学作为化工行业的佼佼者，以440%的涨幅荣登上半年"股王"宝座。 从板块来看，上半年的主题概念得到了大量资金的追捧，包括AI大模型、人形机器人、新消费趋势、 创新药物研发以及固态电池技术等热点领域轮番活跃，吸引了投资者的目光。值得注意的是，接近二十 家银行的股票在上半年创下了历史新高，表明金融板块同样表现出色。 放眼全球资本市场，中国资产不仅在国内市场上表现亮眼，在国际舞台上 ...

ETF Industry News - The three major indices collectively rose, with the Shanghai Composite Index up 0.59%, the Shenzhen Component Index up 0.83%, and the ChiNext Index up 1.35. Multiple gaming sector ETFs saw significant gains, including Huatai-PB Gaming ETF (516770.SH) up 5.99%, Gaming ETF (159869.SZ) up 5.95%, and Gaming ETF (516010.SH) up 5.82. In contrast, several non-bank financial sector ETFs declined, with the leading securities ETF (159993.SZ) down 0.41% [1] - According to Everbright Securities, four main investment logic points for the gaming industry are expected to remain sustainable: 1) The sector maintains a high level of prosperity, with consumer sentiment remaining elevated. 2) Leading manufacturers are focusing on high-quality end-game products, while mid-tier opportunities are more prevalent. 3) The summer 2025 release schedule is strong, with several key products set for launch or testing. 4) Continuous innovation in niche segments, such as "search and destroy," SLG, casual games, and high-quality content, shows strong absorption capacity [1] ETF Market Performance - The performance of ETFs in the first half of the year has been released, with the Hong Kong innovative drug-related ETFs performing well, particularly the Hong Kong Innovative Drug ETF, which surged 59.31% to take the top spot. Other related ETFs also saw gains exceeding 57%. In contrast, coal and photovoltaic concept stocks continued to weaken, with coal ETFs down over 12% and several photovoltaic-related ETFs down over 11% [2] - The overall performance of the A-share market showed that the three major indices rose collectively, with the Shanghai Composite Index closing at 3444.43 points, the Shenzhen Component Index at 10465.12 points, and the ChiNext Index at 2153.01 points. The top performers in the last five trading days included the ChiNext Index, Northbound 50, and Nikkei 225, with respective gains of 6.71%, 5.78%, and 5.56% [3] Sector Performance - In terms of sector performance, defense and military, media, and communication sectors ranked highest today, with daily gains of 4.35%, 2.82%, and 1.9%, respectively. Conversely, non-bank financial, banking, and transportation sectors lagged behind, with daily declines of -0.77%, -0.34%, and -0.09% [5] - Over the past five trading days, the defense and military, communication, and computer sectors showed strong performance, with gains of 9.4%, 7.33%, and 6.48%, while the oil and petrochemical, banking, and transportation sectors experienced declines of -2.92%, -0.88%, and -0.73% [5] ETF Categories Overview - The average performance of different categories of ETFs was calculated based on their scale and price changes. The stock-themed index ETFs performed the best with an average increase of 1.26%, while commodity ETFs had the worst performance with an average decline of -0.08% [8] - The top five performing ETFs today included gaming ETFs, with Huatai-PB Gaming ETF (516770.SH) leading at 5.99%, followed closely by Gaming ETF (159869.SZ) at 5.95% and Gaming ETF (516010.SH) at 5.82% [10] Trading Volume and Fund Size - The trading volume of various ETFs was analyzed, with the top three stock ETFs by trading volume being the CSI 300 ETF (510300.SH) at 4.3 billion, A500 ETF (159351.SZ) at 3.94 billion, and A500 ETF Fund (512050.SH) at 3.686 billion [13][14]

每经记者｜吴永久 每经编辑｜闫峰峰 6月的股市在今日收官。周一，A股三大指数集体收涨，沪指涨0.59%，收报3444.43点。沪深两市成交额达到14869亿元，较上周五缩量542亿元。盘面上， 军工、网络游戏板块涨幅居前。 在每日经济新闻App举办的掘金大赛中，第64期比赛于今日结束。其中冠军收益率59.73%，亚军收益率59.44%，季军收益率56.43%。本期比赛共1075名选 手取得正收益，创出比赛以来的纪录，他们都将获得现金奖励。 从6月的月度积分王来看，选手"你们快看"以15分位居第一名，选手"女篮"以14分位居第二名，第三名选手"大司马"的月度积分为13分。根据比赛规则，当 月度总积分相同时，以当月最后一期比赛的收益率进行排名，前100名选手都将获得现金奖励。 如果您的税前获奖金额超出100元，则需要报税，需获奖用户提供真实姓名、身份证号和手机号等信息以便报税。本期比赛奖励将于7月2日发放，恭喜大家 获奖。奖励查询方式：在每日经济新闻APP的主页上，点击右上角的"个人中心"（右上角头像），在"我的钱包"就可查询奖励，支付宝提现。 好消息来了，第65期比赛从7月1日开始报名，大赛为模拟炒股，模拟资金 ...

Market Performance - The A-share market saw all major indices rise in the first half of the year, with the Shanghai Composite Index increasing by 2.76%, the North Star 50 Index soaring by 39.45%, and the Wind Micro Index achieving a historical high with a gain of over 43% [1] - Over 3,700 stocks in the market rose, with more than 100 stocks increasing by over 100% [1] Sector Highlights - Various sectors attracted significant capital, including AI large models, humanoid robots, new consumption, innovative drugs, and solid-state batteries [1] - Nearly 20 bank stocks reached historical highs in the first half of the year [1] ETF Performance - The top ten core ETFs in the "Global Vision, Betting on China" category rose by 10.21%, significantly outperforming the CSI 300 Index, which only increased by 0.03% [3] - The Hong Kong Innovation Drug ETF led the performance with a remarkable increase of 56.69% [6] - The A500 ETF Fund (512050) recorded a gain of 1.47% in the first half of the year [3][5] Industry Insights - The A500 Index employs an industry-balanced sampling method, covering 35 sub-industries, with industrials (22.1%) and information technology (19.1%) as the top two sectors [5] - The index's net asset return on equity (ROE) has maintained around 9%, with a projected profit growth rate of 11.6% for 2025 [5] - The Hong Kong innovative drug sector's competitiveness has strengthened, with international revenue significantly improving the profit structure of pharmaceutical companies [8] Brokerage Sector - The brokerage ETF fell by 3% in the first half of the year, despite a strong performance from leading brokerages, which saw net profit growth exceeding 50% in Q1 2025 [9][11] - The average daily trading volume in A-shares remained above 1 trillion yuan, supporting brokerage revenue growth [11] - The brokerage sector is expected to benefit from ongoing capital market reforms and a stable trading environment in the second half of the year [11]

Group 1 - The A-share market showed a strong performance in the first half of the year, with major indices rising across the board, driven by sectors such as AI large models, humanoid robots, new consumption, innovative drugs, and solid-state batteries [1] - The CSI Artificial Intelligence Industry Index (931071) rose by 1.77% as of June 30, 2025, with notable gains in constituent stocks like Ecovacs (603486) up 6.40% and Zhongji Xuchuang (300308) up 5.39% [1] - The Artificial Intelligence ETF (515980) achieved a 2.05% increase, marking its fifth consecutive rise, and saw a weekly cumulative increase of 4.91% as of June 27, 2025 [1] Group 2 - The Artificial Intelligence ETF recorded a 34.01% increase in net value over the past year, with a maximum monthly return of 30.38% since its inception [2] - The ETF's Sharpe ratio was 1.10 as of June 27, 2025, indicating strong risk-adjusted returns, while the management fee was set at 0.50% and the custody fee at 0.10% [2] - The CSI Artificial Intelligence Industry Index is constructed from 50 representative listed companies based on their AI business proportion, growth level, and market capitalization [2] Group 3 - The top ten weighted stocks in the CSI Artificial Intelligence Industry Index accounted for 49.9% of the index, including companies like Inspur Information (000977) and Ziguang (000938) [3] - Recent advancements in AI technology were highlighted by Tencent's release of the Hunyuan-A13B model and Alibaba's QwenVLo model, both showcasing significant improvements in performance and efficiency [3] Group 4 - The market outlook for AI applications is optimistic, with expectations for a surge in the second half of 2025 driven by rapid advancements in domestic models and increased user engagement [4] - The AI application ecosystem is entering a phase of left-side configuration, with some well-performing stocks already starting to gain traction [4]