Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core Viewpoints - The central bank's tolerance of the current 10Y Treasury yield means it's unlikely to significantly raise DR rates if the (ultra) long - end of the yield curve stays at current levels or declines slightly and slowly [3][14]. - Before the next OMO rate cut, the room for further decline in the DR007 and DR001 central rates is limited [1][2][11]. - The 1Y CD rate is currently slightly overvalued, and the central bank will consider its impact on bank net interest margins, loan issuance, yield curve long - end, and future Treasury trading when supplying medium - term base money [15]. 3. Summary by Section 7 - month Funding Situation - Since July, the money market interest rates have been falling. As of July 4, DR001 and DR007 have dropped to 1.31% and 1.42% respectively, but the room for further decline is limited before the next OMO rate cut [1][9]. - OMO reverse repurchase operations have "tool mode" and "non - tool mode". In the "non - tool mode", the DR007 central rate is slightly higher than the 7D OMO rate, and DR001 is slightly lower. Currently, the spreads between DR007, DR001 and 7D OMO are lower than the 2024 average, approaching the 1/4 quantile [2][11]. - In the "non - tool mode", DR007 is not an indication of monetary policy attitude and is unlikely to decline ahead of the 7D OMO rate. In 2024, the 7D OMO rate changed first, and then DR007 adjusted accordingly [2][11]. Treasury Yield Analysis - The 10Y Treasury yield has been stable around 1.65% recently, and the central bank tolerates its current trend [3][14]. - Since June, the decline of the 50Y Treasury yield has been greater than that of the 10Y variety. As of July 4, the spread between the 50Y and 10Y Treasuries has compressed by 11.1bp compared to the end of May. If the (ultra) long - term interest rate yields decline significantly or rapidly, OMO may switch from "non - tool mode" to "tool mode", and the DR007 central rate may rise significantly [4][14]. CD Rate Analysis - The 1Y CD rate is currently slightly overvalued. On July 4, the spread between the 1Y AAA - rated CD and 7D OMO was 19.3bp, lower than 83% of trading days in 2024 [15]. - The central bank will consider the impact of CD rates on bank net interest margins, loan issuance, yield curve long - end, and future Treasury trading when supplying medium - term base money [15].

Core Points - The stock price of Shichuang Energy (688429) closed at 14.06 yuan on July 4, 2025, down 0.85% from the previous week [1] - The company's total market capitalization is 5.624 billion yuan, ranking 43rd out of 63 in the photovoltaic equipment sector and 2703rd out of 5149 in the A-share market [1] Company Announcements - As of June 30, 2025, Shichuang Energy has repurchased a total of 1.841 million shares, with a total expenditure of 25.5145 million yuan [1] - The repurchased shares account for 0.46% of the company's total share capital, with a maximum repurchase price of 14.55 yuan per share and a minimum price of 13.33 yuan per share [1] - The repurchase plan was first disclosed on April 29, 2025, with an implementation period from April 28, 2025, to July 27, 2025, and an expected repurchase amount between 30 million yuan and 60 million yuan [1] - The board of directors approved the repurchase plan on April 28, 2025, allowing the use of self-owned and raised funds for the repurchase, with a maximum price of 21.33 yuan per share [1] - The company commits to strictly adhering to relevant regulations and will disclose information regarding the progress of the repurchase [1]

Core Viewpoint - Debon Technology (688035) has experienced a decline in stock price, closing at 39.35 yuan as of July 4, 2025, down 3.03% from the previous week [1] Company Performance - The highest intraday price for Debon Technology on June 30 was 41.08 yuan, while the lowest on July 4 was 39.1 yuan [1] - The current total market capitalization of Debon Technology is 5.597 billion yuan, ranking 24th out of 33 in the electronic chemical products sector and 2715th out of 5149 in the A-share market [1] Share Buyback Program - As of June 30, 2025, Debon Technology has repurchased a total of 804,951 shares, with a total expenditure of 30,873,577.16 yuan [1] - The buyback plan was first disclosed on April 4, 2025, with an implementation period from April 2, 2025, to April 1, 2026, and an expected buyback amount between 40 million and 80 million yuan [1] - The purpose of the buyback is for employee stock ownership plans or equity incentives [1] - The repurchased shares account for 0.5659% of the total share capital, with an average repurchase price ranging from 35.79 yuan to 40.45 yuan per share [1] - In June 2025, the company repurchased 303,708 shares at a maximum price of 39.99 yuan and a minimum price of 37.17 yuan, totaling 11,557,310.29 yuan [1]

Core Viewpoint - Bid Pharma (688073) has seen a significant increase in stock price, closing at 55.8 RMB, up 8.64% from the previous week, indicating positive market sentiment and potential growth opportunities [1] Company Announcements Summary - Bid Pharma has announced a share buyback plan, with the purpose of employee stock ownership plans or equity incentives [1] - As of June 30, 2025, the company has repurchased a total of 2,072,148 shares, representing 2.28% of its total share capital [1] - The company has adjusted the upper limit of its buyback price to not exceed 71.44 RMB per share, down from the previous limit of 72.30 RMB per share [2] - The buyback plan was first disclosed on February 8, 2025, and is set to be implemented from February 24, 2025, to August 23, 2025, with an expected buyback amount between 50 million to 100 million RMB [2] - The total amount spent on repurchases so far is approximately 94,147,819.45 RMB, with actual repurchase prices ranging from 37.47 RMB to 53.30 RMB per share [2]

Core Viewpoint - Ailong Technology (688329) experienced a slight decline in stock price, closing at 18.41 yuan as of July 4, 2025, down 0.54% from the previous week, despite reaching a near one-year high of 19.58 yuan on July 1, 2025 [1] Shareholder Changes - As of June 30, 2025, the number of shareholders for Ailong Technology was 4,218, an increase of 134 from June 20, representing a growth rate of 3.28% [1][3] - The average number of shares held per shareholder decreased from 18,900 shares to 18,300 shares, with an average holding value of 352,100 yuan [1] Company Announcements - Ailong Technology announced a share repurchase plan, initially disclosed on April 29, 2025, with a repurchase period from April 25, 2025, to April 24, 2026, and an expected repurchase amount between 1.5 million yuan and 3 million yuan [1] - As of June 30, 2025, the company had not yet implemented any share repurchases, with a total repurchase amount of 0 yuan and no shares repurchased [1][3]

公司公告汇总: 截至2025年6月30日，ST逸飞累计回购公司股份2222800股，支付的资金总额为人 民币75552185.80元 公司公告汇总 截至2025年7月4日收盘，ST逸飞（688646）报收于28.8元，较上周的28.63元上涨0.59%。本周，ST逸飞 7月3日盘中最高价报29.1元。7月2日盘中最低价报28.06元。ST逸飞当前最新总市值27.41亿元，在自动 化设备板块市值排名67/79，在两市A股市值排名4463/5149。 本周关注点 2025年6月，公司通过上海证券交易所交易系统以集中竞价交易方式回购公司股份64414股，占公司总股 本95162608股的比例为0.07%，支付的资金总额为人民币1662167.47元。截至2025年6月30日，公司累计 回购公司股份2222800股，占公司总股本的比例为2.34%，支付的资金总额为人民币75552185.80元。本 次回购股份符合相关法律法规、规范性文件的规定及公司回购股份方案。公司将严格按照相关规定，在 回购期限内根据市场情况择机做出回购决策并予以实施，同时根据回购股份事项进展情况及时履行信息 披露义务。 以上内容为证券之星据公开信 ...

公司公告汇总 上海昊海生物科技股份有限公司发布关于2024年年度权益分派实施后调整回购A股股份价格上限的公 告。公司以集中竞价交易方式回购A股股份价格上限由不超过89.31元/股调整为88.72元/股，调整起始日 为2025年6月30日。公司于2024年8月16日召开董事会审议通过回购方案，回购资金总额不低于10,000.00 万元且不超过20,000.00万元，回购期限为12个月。2024年半年度权益分派实施后，回购价格上限曾调整 为不超过89.31元/股。2025年3月21日和6月10日召开的董事会及股东周年大会审议通过2024年度利润分 配预案，向全体股东每10股派发现金红利6.00元。本次权益分派A股股权登记日为2025年6月27日，除权 除息日为2025年6月30日。根据相关规定，公司对回购价格上限进行相应调整。调整后的回购价格上限 计算为88.72元/股。本次回购资金总额不变，按新价格上限测算，回购股份数量约为112.7142万股至 225.4283万股，占公司总股本比例约为0.48%至0.97%。公司将根据市场情况择机实施回购并履行信息披 露义务。 上海昊海生物科技股份有限公司发布关于第二期以集 ...

Core Viewpoint - Baolong Technology's stock price has decreased by 2.83% this week, closing at 38.11 yuan, with a total market capitalization of 8.174 billion yuan as of July 4, 2025 [1] Company Announcements Summary - Baolong Technology provided guarantees for its subsidiaries Baolong Industrial and Longgan Electronics, amounting to 359 million yuan and 17 million yuan respectively, with total guarantees reaching 2.762 billion yuan, accounting for 86.40% of the company's latest audited net assets [1] - The company issued convertible bonds with a total amount of 1.39 million bonds at a face value of 100 yuan each, raising 1.39 billion yuan, with a net amount of 1.377 billion yuan after expenses [2] - In the second quarter of 2025, 98,000 yuan of "Baolong Convertible Bonds" were converted into 2,414 shares, representing 0.0011% of the total shares before conversion [3] - As of June 30, 2025, the company has repurchased 1.0247 million shares, totaling 40.003 million yuan, as part of its share repurchase plan [5]

截至2025年7月4日收盘，诺唯赞（688105）报收于22.75元，较上周的21.88元上涨3.98%。本周，诺唯 赞7月3日盘中最高价报23.09元。6月30日盘中最低价报21.76元。诺唯赞当前最新总市值90.48亿元，在 生物制品板块市值排名29/50，在两市A股市值排名1798/5149。 一、回购股份的基本情况：公司于2025年6月19日召开第二届董事会第十七次会议，审议通过了以集中 竞价交易方式回购公司股份方案的议案，同意公司以不低于人民币500万元且不超过人民币1000万元的 自有资金，通过集中竞价交易方式回购公司已发行的部分人民币普通股股票，用于实施股权激励或员工 持股计划，回购价格不超过人民币30元/股，回购期限为自公司董事会审议通过本次回购股份方案之日 起12个月内。 二、回购股份的进展情况：截至2025年6月30日，公司尚未实施股份回购。 三、其他事项：公司将严格按照相关规定，在回购期限内根据市场情况择机做出回购决策并予以实施， 同时根据回购股份事项进展情况及时履行信息披露义务，敬请广大投资者注意投资风险。特此公告。南 京诺唯赞生物科技股份有限公司董事会2025年7月4日。 以上内容为 ...

截至2025年7月4日收盘，节能风电（601016）报收于2.94元，较上周的2.89元上涨1.73%。本周，节能 风电7月4日盘中最高价报2.97元。6月30日盘中最低价报2.88元。节能风电当前最新总市值190.32亿元， 在电力板块市值排名31/102，在两市A股市值排名835/5149。 本周关注点 公司公告汇总 7. 回购方案首次披露日为2025年4月29日，回购方案实施期限为2025年5月23日到2026年5月22日，预 计回购金额为1亿元到2亿元，回购用途为减少注册资本。 8. 因公司实施2024年年度权益分派，本次以集中竞价交易方式回购股份价格上限由不超过人民币 4.44元/股调整为不超过人民币4.37元/股，调整后的回购价格上限于2025年6月18日生效。 9. 截至2025年6月30日，公司尚未进行股份回购。 中节能风力发电股份有限公司发布了两则重要公告： 1. 可转债转股结果暨股份变动公告 6. 股份回购进展公告 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 公司公告汇总：截至2025年6月30日，累计已有人 ...