本报记者 彭衍菘 公募基金发行市场持续升温。Wind资讯数据显示，截至9月23日（按基金成立日统计），9月份以来新成立基金143只（仅 统计主份额）。 具体来看，9月份以来多只新成立基金呈现"认购热"特征。主动权益类产品里，招商均衡优选混合A于9月2日首发时设置50 亿元募集上限，最终认购申请确认比例为56.67%，成立规模接近上限，成为年内最受关注的主动权益类产品之一；被动指数型 产品则聚焦细分赛道，富国国证机器人产业ETF、天弘国证港股通科技指数A、广发创业板指数增强A等产品，凭借对机器人、 港股科技、创业板等领域的垂直布局，吸引大量资金参与，反映出投资者对细分赛道的专业化配置需求较大。 据《证券日报》记者统计，9月份以来新成立的基金中，40余只基金聚焦科技领域，覆盖AI产业链、机器人、科创板等细 分方向；13只基金以港股为主要投资标的，涵盖港股通科技、恒生生物科技等主题。 相关基金对于科技赛道的布局也与产业发展趋势高度契合。富荣基金基金经理郭梁良对《证券日报》记者表示："当前， AI算力需求正从训练向推理场景大规模迁移，这一趋势正在驱动硬件设计发生根本性变革。这影响了PCB（印制电路板）、连 接器、散热 ...

Group 1 - The core point of the news is that Mengke Pharmaceutical-U experienced a significant increase in stock price, reaching a limit up of 20.02% during trading on September 23, with a trading volume of 635 million yuan and a turnover rate of 13.05% [1] - Among the stocks listed on the Sci-Tech Innovation Board, 57 stocks were reported to be rising, with 5 stocks showing an increase of over 10%, including Mengke Pharmaceutical-U, Haibosi Chuang, and Jingzhida [1] - Conversely, 528 stocks were reported to be declining, with notable decreases in ST Sike Rui, De Ke Li, and Kai Pu Yun, which fell by 13.49%, 9.80%, and 8.98% respectively [1] Group 2 - In terms of capital flow, Mengke Pharmaceutical-U saw a net outflow of 2.4013 million yuan from main funds on the previous trading day, but a net inflow of 34.505 million yuan over the past five days [2] - The latest margin trading data as of September 22 shows a total margin balance of 85.0489 million yuan, with a decrease of 0.74% from the previous trading day [2] - Over the past ten days, the total margin balance increased by 0.40%, with the financing balance also growing by 0.40% [2] - In terms of institutional ratings, the stock received a buy rating from one institution in the past month, with a report from Guangda Securities on August 27 recommending a buy [2]

值得一提的是，根据"科创板八条"的相关试点安排，禾元生物也是首家采用网下发行差异化限售与配售 安排的公司。禾元生物公告显示，其网下整体限售比例不低于40%，对投资者报价设置了3档差异化限 售档位，申购最高限售档位投资者的配售比例不低于最低限售档位的9倍。 北京商报讯(记者丁宁)9月22日晚间，禾元生物(688765)披露发行安排及初步询价公告等，正式启动发行 工作。 招股书显示，禾元生物是一家创新型生物医药企业，拥有全球领先的植物生物反应器技术平台。据悉， 禾元生物是重启科创板第五套标准后的首家过会并取得注册批文的企业，也是科创成长层新注册企业中 首家启动发行工作的企业。 ...

Market Performance - The Sci-Tech Innovation Board (STAR Market) index rose by 3.38%, closing at 1408.64 points, with a total trading volume of 4.626 billion shares and a turnover of 270.488 billion yuan, resulting in an average turnover rate of 2.46% [1] - Among the tradable stocks on the STAR Market, 363 stocks closed higher, with 16 stocks rising over 10%, including Honglida and Zhongke Lanyun, which hit the daily limit [1] - The turnover rate distribution shows that 2 stocks had a turnover rate exceeding 20%, 21 stocks between 10% and 20%, and 83 stocks between 5% and 10% [1] Stock Highlights - The stock with the highest turnover rate was Lianyun Technology, which closed up 9.43% with a turnover rate of 25.52% and a transaction amount of 980 million yuan [1] - Zhongke Lanyun also hit the daily limit with a closing price increase of 20.00% and a turnover rate of 24.47%, with a transaction amount of 1.448 billion yuan [1] - Other notable stocks with high turnover rates include Canxin Technology, Zhenlei Technology, and Huahai Chengke, with turnover rates of 18.59%, 15.09%, and 15.07% respectively [1] Sector Analysis - In terms of sector performance, the electronics sector had the most stocks with a turnover rate exceeding 5%, totaling 50 stocks, followed by machinery and equipment, and computer sectors, each with 15 stocks [2] - Among the high turnover stocks, 56 experienced net inflows of main funds, with the highest net inflows seen in SMIC, Chipone, and Dongxin, amounting to 508 million yuan, 483 million yuan, and 241 million yuan respectively [2] Leverage Fund Movements - A total of 78 stocks received net purchases from leveraged funds, with significant increases in financing balances observed in SMIC, Dekeli, and Juguang Technology, which increased by 2.056 billion yuan, 479 million yuan, and 216 million yuan respectively [2] - Conversely, stocks like Kaipu Cloud, Huahong Company, and Aerospace Hongtu saw significant decreases in financing balances, with reductions of 94.232 million yuan, 86.227 million yuan, and 64.006 million yuan respectively [2]

以最新收盘价计算，科创板平均股价为41.46元，其中股价超100元的有70只，股价最高的是寒武纪-U。 证券时报·数据宝统计显示，科创板股今日上涨的有363只，下跌的有215只，以收盘价为基准测算，科 创板平均股价为41.46元，其中，收盘价超过100元的有70只，股价在50元至100元之间的有148只，股价 在30元至50元的有147只。 科创板股中，收盘价最高的是寒武纪-U，今日报收1398.00元，上涨3.61%，其次是茂莱光学、源杰科技 等，最新收盘价分别为453.00元、391.06元。 科创板百元股中，今日平均上涨2.76%，具体来看，今日上涨的有51只，涨幅居前的有中科蓝讯、芯原 股份、聚辰股份等。下跌的有19只，跌幅居前的有浩欧博、石头科技、德科立等。 向前追溯发现，科创板百元股最新收盘价相对发行价平均溢价422.98%，溢价幅度居前的有寒武纪-U、 安集科技、百利天恒等，溢价幅度分别为2071.14%、1418.37%、1392.31%。 以申万一级行业分类，科创板百元股较为集中的行业有电子、医药生物、计算机等，分别有34只、12 只、8只股票上榜。 资金流向方面，科创板百元股今日主力资金合 ...

Market Performance - The Sci-Tech Innovation 50 Index opened slightly lower on September 22, then fluctuated and eventually closed significantly higher, ending at 1408.64 points with a gain of 3.38% and a total trading volume of approximately 114.2 billion [1] - The overall Sci-Tech Innovation Index rose by 2.21% to close at 1658.35 points, with a total trading volume of 270.5 billion [1] Stock Performance - Excluding suspended stocks, 588 stocks on the Sci-Tech board saw more gains than losses, with an average increase of 1.25% and an average turnover rate of 3.28% [1] - Notable individual stock performances included Honglida and Zhongke Lanyun hitting the daily limit up, while Borui Pharmaceutical experienced a significant drop of 13.15%, marking the largest decline [1] Sector Analysis - Semiconductor and specialized machinery stocks showed strong performance, while component and electrical instrument stocks faced the largest declines [1] - The performance of electrical equipment stocks was mixed [1] Trading Activity - The highest trading volume was recorded for SMIC at 19.86 billion, while the lowest was for Zhongke Weizhi at 1.082 million [2] - The highest turnover rate was for Lianyun Technology at 25.52%, while Longteng Optoelectronics had the lowest at 0.21% [2]

Group 1: Market Overview - The A-share market is experiencing increased volatility, with both the banking and liquor sectors facing structural challenges despite their traditional defensive attributes [1] - The banking sector is constrained by a continuous narrowing of net interest margins and weak credit demand, while the liquor industry is pressured by high inventory levels and slow consumption recovery [1] - There is a lack of strong catalysts for both sectors in the short term, raising concerns about insufficient valuation recovery momentum [1] Group 2: Trading Activity - The total trading volume across the three markets reached 3.17 trillion yuan, ranking as the fourth highest in history and third highest this year, indicating that capital remains in the market but is shifting away from previously hot sectors [3] - The STAR Market saw a record trading volume of 361 billion yuan, with the electronics sector accounting for nearly 60% of this volume, highlighting a significant concentration of trading activity [5] - The top three stocks in the STAR Market, including Cambrian, SMIC, and Haiguang Information, collectively accounted for 67.7 billion yuan, representing nearly 20% of the total trading volume [5] Group 3: Valuation Concerns - The STAR 50 index has seen a continuous rise for seven days, with a current price-to-earnings ratio nearing 180 times, suggesting that investors would need to wait 179 years to recoup their investment based on current profits, indicating a significant overvaluation [7] - The excessive concentration of funds in certain stocks has led to volatility, as the market corrects after previous rapid increases, suggesting a need to deflate the bubble [8] Group 4: Market Sentiment and Future Outlook - Despite recent declines, the underlying support for the current market rally remains intact, with expectations of moving out of deflation still present [12] - The macroeconomic environment is not expected to improve rapidly, and it may take several months for the effects of monetary policy to translate into the real economy [13] - The current market adjustment is viewed as a necessary step to solidify the foundation for future growth, with supportive policies and external factors, such as the recent interest rate cut by the Federal Reserve, providing a favorable backdrop for the A-share market [15] Group 5: Investment Strategy - Investors are advised to focus on segments of the technology supply chain that have real orders and can deliver, as well as cyclical sub-industries that are beginning to see price recovery [17] - High dividend sectors, such as banking and liquor, are currently less favorable for defensive strategies, with a recommendation to avoid these areas in favor of growth-oriented investments [19] - The current market fluctuations should not deter long-term investment strategies, as the overall trend remains positive, and maintaining a focus on profitable sectors is crucial for future returns [24]

Market Performance - The Sci-Tech Innovation Board (STAR Market) index fell by 1.28%, closing at 1362.65 points, with a total trading volume of 4.94 billion shares and a turnover of 263.32 billion yuan, resulting in a weighted average turnover rate of 2.63% [2] - Among the tradable stocks on the STAR Market, 187 stocks closed higher, with 2 stocks rising over 10% and 15 stocks rising between 5% and 10%. Conversely, 394 stocks closed lower, with 1 stock declining over 10% [2] Turnover Rate Analysis - The distribution of turnover rates shows that 1 stock had a turnover rate exceeding 20%, 23 stocks had turnover rates between 10% and 20%, 92 stocks between 5% and 10%, 139 stocks between 3% and 5%, 271 stocks between 1% and 3%, and 63 stocks had a turnover rate of less than 1% [2] - The stock with the highest turnover rate was Huafeng Technology, which closed down by 1.19% with a turnover rate of 20.55% and a transaction amount of 3.99 billion yuan [2] Sector Performance - In terms of sector performance, among stocks with a turnover rate exceeding 5%, the electronics sector had the most stocks, totaling 50, followed by machinery equipment and computer sectors with 17 and 16 stocks, respectively [3] Fund Flow - Among high turnover stocks, 52 stocks experienced net inflows of main funds, with the highest net inflows seen in Shijia Photon, Baiwei Storage, and Fuxin Technology, amounting to 251 million yuan, 133 million yuan, and 9.61 million yuan, respectively [3] - Conversely, the stocks with the largest net outflows included Lankai Technology, Huafeng Technology, and Yuntian Lefe, with net outflows of 565 million yuan, 348 million yuan, and 334 million yuan, respectively [3] Leverage Fund Movements - A total of 78 stocks received net purchases from leveraged funds, with notable increases in financing balances for SMIC, Dekeli, and Green Harmony, which saw increases of 1.87 billion yuan, 321 million yuan, and 293 million yuan, respectively [3]

新华财经北京9月19日电（罗浩）科创板两大股指19日早间高开，两股指盘初冲高回落后震荡整理，午 后波动下行，收盘时均显著下跌。至收盘时，科创50指数报1362.65点，跌幅1.28%，总成交额约1013亿 元。科创综指收于1622.55点，跌幅1.25%，总成交额约2633亿元，总成交额较上一交易日显著缩量。 换手率方面，华丰科技换手率为20.55%，位居首位；佰仁医疗换手率为0.33%，位居末位。 本周（2025年9月15日至9月19日），科创50指数累计上涨1.84%，科创综指累计上涨0.96%。 （文章来源：新华财经） 成交额方面，中芯国际成交额179.44亿元，位居首位；金达莱成交额1437.57万元，位居末位。 当日，科创板近七成个股收跌。元器件、通信设备、环境保护、航空、矿物制品、化工原料领域内股票 呈分化态势，其余细分领域内股票呈涨少跌多态势。 经新华财经统计，9月19日，剔除停牌的品茗科技，科创板其余588股平均跌幅0.73%，平均换手率 3.47%，合计成交额2633.17亿元，平均振幅为4.69%。 个股表现方面，富信科技收于约20%涨停，涨幅居首；峰岹科技下跌10.58%，跌幅居首。 ...

Market Performance - The Sci-Tech Innovation Board (STAR Market) index rose by 0.72%, closing at 1380.35 points, with a total trading volume of 6.879 billion shares and a turnover of 361.047 billion yuan, resulting in an average turnover rate of 3.66% [1] - Among the tradable stocks on the STAR Market, 175 stocks closed higher, with 11 stocks increasing by over 10%, including DeKeLi and HuaFeng Technology, which hit the daily limit [1] - The distribution of turnover rates shows that 4 stocks had turnover rates exceeding 20%, while 47 stocks had rates between 10% and 20% [1] High Turnover Stocks - LiYang Chip had the highest turnover rate at 24.65%, closing up by 5.38% with a trading volume of 1.865 billion yuan [1][3] - ZhongJuXin followed with a turnover rate of 24.21%, closing up by 4.85% and a trading volume of 1.416 billion yuan [1][3] - Other notable stocks with high turnover rates include HuaFeng Technology (23.25%), MaiWei Biology (21.87%), and ZhongYan Co. (19.10%) [1][3] Sector Analysis - Among stocks with a turnover rate exceeding 5%, the electronics sector had the most representation with 83 stocks, followed by machinery and computer sectors with 29 and 27 stocks, respectively [2] - The top gainers in this category included DeKeLi and HuaFeng Technology, both rising by 20.00%, and HuiCheng Co. with a 14.16% increase [2] Fund Flow - In terms of fund flow, 82 stocks experienced net inflows from main funds, with HuaFeng Technology, MaiWei Biology, and ZhongWei Company seeing the highest net inflows of 337 million yuan, 298 million yuan, and 220 million yuan, respectively [2] - Conversely, DongXin Co., ZhongXin International, and PuRan Co. faced significant net outflows of 819 million yuan, 731 million yuan, and 284 million yuan, respectively [2] Leverage Fund Movements - A total of 127 stocks received net purchases from leveraged funds, with notable increases in financing balances for ZhongXin International (1.988 billion yuan), XinYuan Co. (1.012 billion yuan), and Green Harmony (373 million yuan) [2] - Stocks with significant reductions in financing balances included HuaHong Company, Aerospace Hongtu, and YingShi Innovation, with decreases of 242 million yuan, 115 million yuan, and 114 million yuan, respectively [2]