Group 1: AI and Computing Power - Step1X-3D, a 3D large model with 4.8 billion parameters, has been released and open-sourced by Jieyue Xingchen, enhancing the capability of domestic large models in generating high-fidelity 3D content [2] - China's AI computing power expenditure is projected to grow from $18 billion in 2024 to $90 billion by 2029, indicating a strong demand for computing resources [2] - The successful launch of the "Trinity Computing Constellation" marks the establishment of China's first interconnected space computing infrastructure, with a total computing power of 1000 POPS [3] Group 2: E-commerce and Retail - Tencent has established an e-commerce product department to explore new transaction models within WeChat, aiming to enhance transaction infrastructure and ecosystem [4] - The integration of AI in e-commerce is expected to reshape the traditional retail landscape through intelligent product selection and personalized recommendations [4] Group 3: Biotechnology - The application of synthetic biology to transform microorganisms into "super factories" for efficient synthesis of new materials is seen as a key driver for the third biotechnology revolution [5] - The demand for biomanufacturing is increasing, with new regulatory frameworks anticipated to guide the healthy development of the synthetic biology industry [5] - AI technologies are expected to support synthetic biology research by analyzing large datasets and optimizing experimental conditions [5]

Group 1 - Federal Reserve Chairman Powell stated that the Fed is adjusting its overall policy framework, indicating that zero interest rates are no longer a baseline scenario and that there is a need to reconsider the language around labor market slack and average inflation rates, with an expectation that April PCE will drop to 2.2% [8] - Coinbase reported that customer data was compromised, and the company rejected a $20 million ransom from hackers, while the SEC is investigating its alleged misreporting of user numbers [10] - Alibaba's fourth fiscal quarter revenue reached 236.45 billion yuan, and the company plans to distribute $4.6 billion in dividends, while also forecasting that profits may be impacted by investments in instant retail [10] Group 2 - The U.S. stock market saw the Dow Jones Industrial Average rise by 0.65%, while the S&P 500 increased by 0.4%, and the Nasdaq Composite fell by 0.18% [4] - European stock indices experienced gains, with Germany's DAX 30 rising by 0.72% and the UK's FTSE 100 increasing by 0.57% [4] - The Hong Kong stock market faced volatility, with the Hang Seng Index closing down 0.79% at 23,453.16 points, and the Hang Seng Tech Index dropping by 1.56% [4]

国泰海通研报称，相较以往各平台预售时间错峰，今年天猫、抖音、京东三大平台均将大促首日定为5 月13日，流量竞争更加激烈。美护板块结构性机会突出，"6.18"年中大促各平台延长活动周期、简化玩 法、加码扶持商家，企业发力产品创新升级、优化运营矩阵，品牌有望实现多点爆发。 商报讯(记者苗露)昨日，A股主要股指弱势下探，沪指再次失守3400点，截至下午收盘，沪指跌0.68%报 3380.82点，深证成指跌1.62%报10186.45点，创业板指跌1.91%报2043.25点，科创50指数跌1.26%。场内 超3800股飘绿，总体来看个股跌多涨少。港股亦走低，恒生指数跌近1%，恒生科技指数跌1.5%。 盘面上，大消费领域多个方向表现亮眼，化妆品、服装、乳业板块纷纷走强；宠物经济板块震荡走高， 合成生物概念活跃，港口航运板块拉升，券商、军工、半导体等板块回调。 大消费领域多个板块强势拉升 昨日，大消费领域多个方向表现亮眼，也让关注消费赛道的投资者信心倍增。 据同花顺（300033）数据，昨日美容护理板块跃居当日行业板块排名第一，整体收涨6.46%，33只成分 股中31只上涨；细分板块中的化妆品板块领涨A股，个股"0"下 ...

[Table_Title] 资产配置日报：草木皆兵 | | | 复盘与思考: 5 月 15 日，降准操作落地日。股市进入"基金调仓"叙事后的定价修正期，债市受到流动性波动影响，小幅 下跌。 复盘各类资产表现，股市，大盘与红利表现稳定，上证指数、沪深 300、中证红利分别下跌 0.68%、0.91%、 0.41%；科技概念表现较弱，科创 50、创业板指、恒生科技分别下跌 1.26%、1.92%、1.56%；小微盘行情分化，中 证 2000 下跌 1.32%，万得微盘股指上涨 0.36%。债市，10 年国债活跃券收益率小幅上行 0.1bp 至 1.67%，30 年国 债活跃券收益率下行 0.4bp 至 1.92%；10 年、30 年国债期货主力合约分别上涨 0.02%、0.24%。 商品市场方面，随着近期全球地缘冲突、关税对抗缓和叙事走向尾声，贵金属单边下跌趋势减弱，伦敦金、 纽约金日线双双走出十字星行情，多空双方在 3175 美元/盎司附近反复争夺；沪金受交易时段错期影响，日盘显 著下跌 3.20%，沪银同样下跌 2.34%。欧线集运指数高开低走，日内涨幅由 10.1%收窄至 8.7%。国内其他商品方 面，工业 ...

Market Overview - On May 15, major market indices collectively declined, with the Shanghai Composite Index falling by 0.68% and the ChiNext Index dropping nearly 2% [1] - The total trading volume in A-shares reached 1.19 trillion yuan, with over 1,400 stocks closing higher, including 78 stocks hitting the daily limit [1] Sector Performance - The beauty and personal care sector led the gains, closing up 3.68%, with stocks like Qingsong Co., Huaye Fragrance, and Jieya Co. hitting the daily limit [1] - The port and shipping sector experienced a pullback after an initial rise, with stocks such as Nanjing Port and Ningbo Maritime continuing to hit the daily limit [1] - The synthetic biology concept index rose over 2%, with 10 stocks hitting the daily limit, including Chuaning Biology and Meinong Biology [1] Historical Highs - A total of 28 stocks reached historical closing highs, with the beauty and personal care, banking, and machinery sectors showing significant concentration [2] - The average increase for stocks that reached historical highs was 6.87%, with notable gainers including Babi Co., Dengkang Oral, and Ruoyuchen [2] Institutional Trading - On May 15, 14 stocks faced net selling by institutions exceeding 10 million yuan, with Youfu Co. leading the sell-off at 146 million yuan [4] - Only 8 stocks saw net buying from institutions, with Aerospace Nanhu and Yuzhong Three Gorges A receiving over 10 million yuan in net purchases [4] Northbound Capital Flow - Northbound capital saw net buying in 5 stocks, with Jilin Chemical Fiber leading at 33.01 million yuan, followed by Jingyun Tong at 28.59 million yuan [6] - Aerospace Nanhu experienced the highest net selling among northbound funds, amounting to 50.41 million yuan [6] Company Announcements - Feilong Co. received a project designation notice from a well-known domestic automotive brand, becoming a supplier for a thermal management module [7] - Yuyue Medical's automatic external defibrillator (AED) product obtained EU MDR certification [8] - Heng Rui Pharmaceutical completed a share repurchase of 12.90 million shares, accounting for 0.2% of its total share capital, with a total transaction amount of 601 million yuan [8]

（原标题：和讯投顾许寒：高低切节点，接替化工的炒作主线已明牌） 再看化工抱团，益达今日冲高回落放出近期天量，明日是低开的预期，而三峡今日虽然顶着益达和保利 的负反馈勉强封板，但盘中炸板频频，明日一个涨停就严重异动了，所以此三峡的抱团也只是化工鱼尾 的绝唱，而尤夫的尾盘封板走的是跨境的外贸预期，明日有冲高的预期，若冲高回落无大单承接需要及 时分手，而君君的小成飞今日以t字换手之姿突破700魔咒，且全天分时无任何漏单技巧，虽然表现强 劲，但是对后排无任何带动作用，中行也没有强势翻红。这符合峰哥昨天对君君的判断，目前君君仍然 处于前排淘汰赛之中，那小程飞从封单质量来看，明日有冲高预期，但仍然需要经历放量换手的考验， 目前和三峡一样只能作为一个短线情绪锚定，如果成飞晋级成功，稳健型选手可以留意通达的绿肺缘 分，最后聊因一则小作文爆发的nm题材，川宁率先上板带动合成生物板块爆发题材，因业绩驱动更偏 趋势，走法爆发的后排涨停，中金达主动性更强，以趋势手法绿肥红瘦对待即可。 5月15日，和讯投顾许寒分析，接替化工的炒作主线已明牌，其中会出现有望对标三峡高度的低位，新 龙随着陈小群在亿达一键式清仓怒赚一个小目标，易达盘中高开 ...

★ 宏观动态 ★ 央行：拟进一步丰富"互换通"产品类型 据中国人民银行消息，为进一步促进内地与香港金融衍生品市场协同发展，推动金融高水平对外开放，中国人 民银行、香港证券及期货事务监察委员会、香港金融管理局在充分总结"互换通"运行经验、认真听取境内外投 资者意见建议的基础上，拟进一步丰富"互换通"产品类型。一是延长合约期限，延长利率互换合约期限至30 年，满足市场机构多样化风险管理需求；二是扩充产品谱系，推出以贷款市场报价利率（LPR）为参考利率的 利率互换合约。两地金融市场基础设施机构将陆续上线以上优化措施。下一步，内地与香港金融管理部门将继 续指导两地金融市场基础设施机构，根据"互换通"的运行情况，持续完善相关机制安排，稳步推动中国金融市 场进一步对外开放，稳慎扎实推进人民币国际化，支持香港国际金融中心繁荣发展。 最高法、证监会：对于"小作文"损害他人权益且构成犯罪的，依法追究刑事责任 最高人民法院、证监会联合发布《关于严格公正执法司法 服务保障资本市场高质量发展的指导意见》。意见 提到，依法打击编传虚假信息、"维权黑产"、发行上市环节不正当竞争等干扰市场正常运行、扰乱资本市场秩 序的违法行为，形成风清气 ...

（原标题：主力资金丨这些股被盯上，尾盘主力资金出手抢筹） 今日，5个行业主力资金净流入。 5月15日，A股三大指数集体回调。行业板块涨少跌多，美容护理板块大涨，食品饮料和化学制药等板块涨幅居前。 沪深两市全天主力资金净流出531.15亿元。医药生物、美容护理、煤炭、农林牧渔和轻工制造5个行业主力资金净流入，净流入金额分别为7.04亿 元、3.88亿元、2.72亿元、2.24亿元、2870.19万元。 26个主力资金净流出行业中，计算机行业主力资金净流出金额居首，为104.66亿元；电子和非银金融行业主力资金净流出均超50亿元；机械设 备、电力设备和通信行业主力资金净流出均超40亿元。 2股尾盘主力资金净流出超亿元 尾盘沪深两市主力资金净流出49.3亿元。建筑装饰、煤炭、建筑材料、农林牧渔等行业尾盘主力资金净流入均超2000万元。 个股方面，盛天网络尾盘主力资金净流入超6000万元；中航成飞、晨曦航空、宁波远洋、宁波海运主力资金净流入均超4000万元。 中际旭创和宁德时代尾盘主力资金净流出超亿元；中欣氟材、红宝丽、同花顺尾盘主力资金净流出均超6800万元。 7股主力资金净流入均超2亿元 从个股来看，沪深两市29 ...

Core Viewpoint - The domestic beauty brand market in China is experiencing strong growth, driven by increasing consumer recognition and confidence in local brands, as stated by the CEO of Marubi Biotechnology during the 2024 annual and Q1 2025 earnings presentation [1] Financial Performance - Marubi Biotechnology achieved a net profit attributable to shareholders of 342 million yuan for the fiscal year 2024, representing a year-on-year increase of 31.69%, while the net profit after deducting non-recurring gains and losses was 327 million yuan, up 73.86% year-on-year [1] - In Q1 2025, the company reported a net profit attributable to shareholders of 135 million yuan, a year-on-year increase of 22.07%, with the net profit after deducting non-recurring gains and losses at 134 million yuan, up 28.57% year-on-year [1] - The stock price of Marubi Biotechnology has increased by over 150% since September 2024, with a closing limit up on May 15 [1] Strategic Transformation - The company has undergone a strategic transformation from a traditional beauty enterprise to a biotechnology beauty company, as indicated by the renaming of its stock from "Marubi Co., Ltd." to "Marubi Biotechnology" in 2024 [2] - Marubi Biotechnology emphasizes the importance of biotechnology in its current and future operations, particularly in the development and industrial application of key technologies such as recombinant collagen protein [2] Research and Development - In 2024, Marubi Biotechnology was recognized as a "National Research Center for Recombinant Functional Protein Technology," conducting 20 specialized studies on recombinant functional proteins throughout the year [2] - The company has made significant advancements in the development of various types of recombinant collagen proteins and has filed for 10 invention patents related to key technologies [2] Industry Trends - The beauty industry is witnessing accelerated penetration of advanced technologies such as artificial intelligence, synthetic biology, and smart manufacturing, which are driving industry upgrades [3] - Consumer demand is becoming more diverse and personalized, leading to higher expectations for quality, efficacy, and added value in beauty products and services [3] Sales and Distribution Strategy - Marubi Biotechnology is pursuing a multi-channel collaborative development strategy, with its brands already present in duty-free stores and actively exploring other channel opportunities [3]

A股复盘 | 实在是找不到主线了 / 2025.05.15 昨天大金融狂拉，给人一种牛市起点的感觉，没想到今天悉数还回去了！低开后 毫无抵抗，一路奔着下跌去了！ 从昨天晚上开始，一直讨论"报复性订单"、"集装箱预订量大涨"， 央视财经也报道"外贸企业连夜赶工应对爆单潮"。 今早，路透援引集装箱追踪软件供应商Vizion数据，在中美两国关税战停火之 后，美国方面预订从中国输美的集装箱运输订量激增了近300%。 不过航运和纺服并没有出现暴涨，资金还是盯着那几个确定性的票。 谁能想到，今天又出来一个新概念——麦角硫因。 早在5月8日，哈哈哈，科伦集团官方视频号发布了一条麦角硫因胶囊的广告，视 频中一男子赤裸上身，展现出结实的肌肉线条。该视频文案为"刘先生75岁—— 没有不可能！麦角硫因，生命长青。科伦永年，与您相伴。" 经核实，该视频中出现的男子确为科伦药业董事长刘革新。 哈哈哈，A股已经这样了吗？机器人、低空经济、算力、CPO啥的都不行了吗？ 又开始整这些奇奇怪怪的概念。 谁能给A股发明一个抗跌的产品？ 据科伦药业透露， 刘革新董事长已连续服用该产品三年，并且一直保持着每日清 晨五点健身的自律习惯，广告中的画面未 ...