近日，沪深交易所公布2025年第二季度融资融券标的证券最新调整结果，并于7月14日正式 施行。 融资融券ETF标的扩容至438只。其中，在交易型开放式基金方面，上交所调入1 6 只 ETF的 同时也调出了1 6只 ，深交所新增13只 、 剔除6只。 从最终调整结果来看，基础行情表现较好的 热门方向，如 黄金、创新药、信创、银行，以及 科创板等ETF成为新增主力军， 短期 表现一般的创业板、亚太 市场 ，以及消费、汽车等相 关ETF成为被剔除的主要品种。 ETF融资融券标的扩容至438只 为加强融资融券标的证券管理，沪深交易所根据《上海/深圳证券交易所融资融券交易实施细 则》相关规定及融资融券标的证券定期评估调整机制，于2025年7月11日发布通知，对融资 融券标的证券范围进行了调整，并于7月14日起执行。 其中，融资融券标的股票调整方面，以优先保留现有标的股票为基本原则，对符合规定的股 票，按照加权评价指标从大到小排序选取新增标的股票，调整后的标的股票数量分别为1000 只（上交所）/1200只（深交所）。 【导读】 2025年二季度 ETF融资融券标的扩容 7只，至438只 中国基金报记者 方丽 孙晓辉 融 ...

科创板融资余额较前一交易日增加3456.88万元，融券余额增加838.98万元。288股融资余额环比增加， 116股融券余额环比增加。 科创板融资余额增幅排名 | 代码 | 简称 | 最新融资余额 | 融资余额环比增 | 最新融券余额 | 融券余额环比增 | 当日涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | | | (万元） | 减（%） | (万元） | 减（%） | （%） | | 688221 | 前沿 | 16795.52 | 42.70 | 0.00 | | -5.72 | | | 生物 | | | | | | | 688183 | 生益 | 40575.40 | 40.96 | 448.16 | 1.90 | 2.33 | | | 电子 | | | | | | | 688265 | 南模 生物 | 5939.46 | 28.49 | 0.00 | | 5.31 | | 688486 | 龙迅 股份 | 14614.71 | 24.60 | 0.00 | | 3.45 | | 688658 | 悦康 药业 | 18904.88 | 22.38 ...

Group 1 - The total margin financing balance in the Shanghai, Shenzhen, and Beijing markets reached 1,885.39 billion yuan, with the financing balance accounting for 98.99% of this total [1] - A total of 108 companies experienced net financing inflows exceeding 100 million yuan, with BYD, Zijin Mining, and Zhongji Xuchuang leading the inflows [1] - The increase in margin financing indicates a growing confidence among investors, who are willing to use leverage to amplify investment returns [1] Group 2 - Among the 108 companies, 80 saw their stock prices increase during the period, with some, like Shanghai Steel Union and Shanghai Dazhihui, achieving over 20% growth [2] - 96 out of the 108 companies reported profits in the first quarter, representing 88.89% of the total, with four companies exceeding 10 billion yuan in net profit [2] - 46 companies have already disclosed mid-year performance forecasts, with 31 expecting positive results, indicating potential improvements in their fundamentals [2] Group 3 - The 108 companies are primarily from the non-bank financial and non-ferrous metals sectors, with 19 and 15 companies respectively [3] - The preference for non-bank financial stocks is attributed to the expansion of the stock market and the continuous development of the bond market, providing ample business opportunities [3] - In the non-ferrous metals sector, rising resource prices significantly enhance company performance, making these stocks attractive to investors [3]

| 交易日 | 两融会额（元） | 余额变动 (元) | 变动幅度 | | --- | --- | --- | --- | | 2025-07-14 | 2.48亿 | -137.87万 | -0.55% | | 2025-07-11 | 2.50亿 | -632.72万 | -2.47% | | 2025-07-10 | 2.56亿 | 545.02万 | 2.18% | | 2025-07-09 | 2.50亿 | -1113.59万 | -4.26% | | 2025-07-08 | 2.62亿 | 748.93万 | 2.95% | 对于投资者而言，了解融资融券的相关知识至关重要。目前，个人投资者若要参与融资融券交易，需满 足两个基本条件：首先，投资者需具备至少6个月的证券交易经验；其次，其账户资产需在前20个交易 日内达到日均50万元的水平。这些条件确保了投资者具备一定的市场经验和资金实力，以降低交易风 险。 融资融券标的股票的数量也在不断扩大。上交所已将主板标的股票数量由800只增加至1000只，而深交 所则将注册制股票以外的标的股票数量由800只扩大至1200只。这一变化为投资者提供了更多的选择 ...

Core Viewpoint - The article highlights the recent increase in margin trading (融资融券) balances in the A-share market, indicating a positive market sentiment and potential investment opportunities in specific sectors [1][3]. Group 1: Margin Trading Overview - As of July 11, the margin trading balance reached 18,757.94 billion yuan, with the financing balance at 18,625.86 billion yuan, marking five consecutive days of increase [1][3]. - During the period from July 7 to July 11, the financing balance increased by 63.59 billion yuan, 54.88 billion yuan, 38.43 billion yuan, 47.68 billion yuan, and 20.82 billion yuan respectively [3]. Group 2: Sector Performance - Among the 31 sectors, 22 experienced an increase in financing balances, with the non-bank financial sector seeing the largest increase of 35.35 billion yuan [3]. - Other sectors with significant financing balance increases include non-ferrous metals, computers, electrical equipment, and pharmaceuticals, all of which saw their indices rise during the same period [3]. Group 3: Individual Stock Activity - A total of 84 stocks saw financing increases exceeding 1 billion yuan, with the top 10 stocks being BYD, Zijin Mining, PetroChina Capital, Pegatron, Northern Rare Earth, Dazhihui, Zhongke Jin Cai, Guoxuan High-Tech, Changliang Technology, and Ping An Bank, with net purchases of 7.66 billion yuan, 5.74 billion yuan, 4.93 billion yuan, and so on [7]. Group 4: Brokerages and Market Trends - Brokerages are optimistic about the recovery of investment banking activities and increased market activity, which is expected to boost their performance [5]. - The number of individual investors in margin trading reached 7.48 million as of June 30, 2025, with an increase of 252,100 from the end of 2024 [9]. - Securities firms are actively expanding their margin trading business while ensuring risk management, with strategies focusing on enhancing customer service and product innovation [9].

7月14日北交所融资融券交易总量 | 融资买入额（万 | 融资余额（万 | 融券卖出量（万 | 融券余量（万 | 融券余额（万 | 融资融券余额 | | --- | --- | --- | --- | --- | --- | | 元） | 元） | 股） | 股） | 元） | （万元） | | 61370.09 | 591129.84 | 0.00 | 6.20 | 77.95 | 591207.78 | 证券时报·数据宝统计，7月14日北交所融资买入额为6.14亿元，最新融资余额为59.11亿元，融券余额为 77.95万元，融资融券余额为59.12亿元。 与上一交易日相比，北交所融资融券余额增加849.08万元。其中，融资余额较上一交易日增加848.35万 元；融券余额较上一交易日增加0.73万元。（数据宝） 近期北交所融资融券交易概况 | 日期 | 融资融券余额 | 较上一交易日增减 | 融资余额 | 融资余额较上一交易日 | 融券余额 | | --- | --- | --- | --- | --- | --- | | | （万元） | （万元） | （万元） | 增减（万元） | （万元） | | 2 ...

Market Overview - As of July 14, the total ETF margin balance in the two markets reached 99.315 billion, an increase of 0.207 billion from the previous trading day [1] - The financing balance was 93.659 billion, up by 0.353 billion, while the securities lending balance decreased to 5.656 billion, down by 0.146 billion [1] - In the Shanghai market, the ETF margin balance was 66.263 billion, increasing by 0.422 billion, with a financing balance of 61.361 billion, up by 0.538 billion, and a securities lending balance of 4.902 billion, down by 0.115 billion [1] - In the Shenzhen market, the ETF margin balance was 33.052 billion, decreasing by 0.215 billion, with a financing balance of 32.298 billion, down by 0.184 billion, and a securities lending balance of 0.754 billion, down by 0.03076 billion [1] ETF Margin Balance - The top three ETFs by margin balance on July 14 were: - Huaan Yifu Gold ETF (7.541 billion) - E Fund Gold ETF (6.71 billion) - Huaxia Hang Seng (QDII-ETF) (4.555 billion) [2] - The top ten ETFs by margin balance include: - Huatai-PB CSI 300 ETF (4.327 billion) - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 ETF (4.288 billion) - Bosera Gold ETF (3.658 billion) - E Fund Hang Seng China Enterprises (QDII-ETF) (3.117 billion) - Huaxia Shanghai Stock Exchange 50 ETF (2.81 billion) - HFT CSI Short Bond ETF (2.776 billion) - Southern CSI 500 ETF (2.434 billion) [2] ETF Financing Buy Amount - The top three ETFs by financing buy amount on July 14 were: - HFT CSI Short Bond ETF (1.184 billion) - E Fund CSI Hong Kong Securities Investment Theme ETF (1.08 billion) - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 ETF (0.596 billion) [3] - The top ten ETFs by financing buy amount include: - GF CSI Hong Kong Innovative Medicine (QDII-ETF) (0.569 billion) - Bosera CSI Convertible Bonds and Exchangeable Bonds ETF (0.491 billion) - Huatai-PB Southern Dongying Hang Seng Technology Index (QDII-ETF) (0.38 billion) - Huaxia Hang Seng Technology (QDII-ETF) (0.364 billion) - Guotai CSI All-Index Securities Company ETF (0.324 billion) - Pengyang CSI 30-Year Treasury Bond ETF (0.32 billion) - Invesco Great Wall NASDAQ Technology Market Cap Weighted (QDII-ETF) (0.281 billion) [4] ETF Financing Net Buy Amount - The top three ETFs by financing net buy amount on July 14 were: - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 ETF (0.126 billion) - Guotai CSI All-Index Securities Company ETF (84.8972 million) - HFT CSI Short Bond ETF (83.8735 million) [5] - The top ten ETFs by financing net buy amount include: - Pengyang CSI 30-Year Treasury Bond ETF (82.6388 million) - Jiashi Shanghai Stock Exchange Sci-Tech Chip ETF (81.6312 million) - E Fund Shanghai Stock Exchange 50 ETF (46.1064 million) - GF CSI Hong Kong Innovative Medicine (QDII-ETF) (39.1122 million) - Guolian An CSI All-Index Semiconductor Products and Equipment ETF (34.2281 million) [6] ETF Securities Lending Sell Amount - The top three ETFs by securities lending sell amount on July 14 were: - Southern CSI 1000 ETF (30.5007 million) - Huatai-PB CSI 300 ETF (16.2973 million) - Southern CSI 500 ETF (14.9671 million) [7] - The top ten ETFs by securities lending sell amount include: - Huaxia Shanghai Stock Exchange 50 ETF (7.4887 million) - Huaxia CSI 1000 ETF (3.6948 million) - Bosera CSI Convertible Bonds and Exchangeable Bonds ETF (1.3806 million) - Huabao CSI Bank ETF (1.2872 million) - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 ETF (0.7536 million) - GF CSI 1000 ETF (0.7049 million) - Jiashi CSI 300 ETF (0.6917 million) [8]

以下文章来源于申万宏源证券上海分公司 ，作者李金玲 申万宏源证券上海分公司 . 2.融资融券数据： 当前市场融资融券余额为18737.13亿元，较上期上升1.92%，其中融资余 额18605.04亿元，融券余额132.09亿元。本期两融日均交易额为1338.13亿元，较上期上升 12.86%，其中融资日均净买入1332.50亿元，较两周前上升12.86%，融券日均净卖出5.63 亿元，较上期上升11.65%。近两周融资净买入前三的行业分别为有色金属、非银金融和电力 设备；融券净卖出前三的行业分别为电子、基础化工和电力设备。 3.涨跌情况： 近两周全市场上涨家数高于下跌家数，近两周涨幅前三的行业为钢铁、建筑材 料和综合，下跌的行业为汽车。 4.强弱分析： 近两周全部A股强弱分析得分为6.19，沪深300强弱分析得分6.29，创业板强 弱分析得分5.97，科创板强弱分析得分5.91，处于中性区间。 测量结果：健康 诊断说明： 本周上证综指冲上3500点，7月11日两市成交额也创4个月新高，虽然后市面临 关键节点，但积极因素仍在累积。后续继续看好科技及港股机会。 申万宏源证券上海分公司官微，能为您提供账户开立、软件 ...

拓日新能今日下跌2.19%，全天换手率21.64%，成交额13.68亿元，振幅16.50%。龙虎榜数据显示，机构 净买入2114.00万元，深股通净买入2161.27万元，营业部席位合计净卖出1090.99万元。 深交所公开信息显示，当日该股因日振幅值达16.50%上榜，机构专用席位净买入2114.00万元，深股通 净买入2161.27万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交2.25亿元，其中，买入成交额为1.28亿 元，卖出成交额为9664.80万元，合计净买入3184.28万元。 具体来看，今日上榜的营业部中，共有2家机构专用席位现身，即买二、买五，合计买入金额3336.17万 元，卖出金额1222.17万元，合计净买入2114.00万元，深股通为第一大买入营业部及第二大卖出营业 部，买入金额为3990.13万元，卖出金额为1828.86万元，合计净买入2161.27万元。 融资融券数据显示，该股最新（7月11日）两融余额为1.33亿元，其中，融资余额为1.33亿元，融券余额 为11.33万元。近5日融资余额合计增加2293.62万元，增幅为20.91%，融券余额合计增加3.02万 ...

Market Overview - The Shanghai Composite Index rose by 1.09% to close at 3510.18 points, with a weekly high of 3555.22 points [1] - The Shenzhen Component Index increased by 1.78% to 10696.1 points, reaching a peak of 10757.24 points [1] - The ChiNext Index saw a 2.36% rise, closing at 2207.1 points, with a maximum of 2223.31 points [1] - In contrast, major global indices mostly declined, with the Nasdaq Composite down by 0.08%, the Dow Jones Industrial Average down by 1.02%, and the S&P 500 down by 0.31% [1] ETF Market Performance - The median weekly return for stock ETFs was 1.31% [2] - The highest weekly return among scale index ETFs was 3.71% for the Penghua CSI 1000 Enhanced Strategy ETF [2] - The Southern CSI All-Share Real Estate ETF led industry index ETFs with a return of 6.87% [2] - The highest return in thematic index ETFs was 10.66% for the China Asset Management CSI Rare Earth Industry ETF [2][4] ETF Liquidity - Average daily trading volume for stock ETFs increased by 11.8%, while average daily turnover rose by 2.6% [6] ETF Fund Flows - The top five stock ETFs by fund inflow included the Huatai-PB CSI 300 ETF with an inflow of 1.21 billion yuan and the Southern CSI 1000 ETF with 1.057 billion yuan [9] - The largest outflows were from the Guotai CSI All-Share Securities Company ETF, which saw a withdrawal of 553 million yuan [10] ETF Financing and Margin Trading - The financing balance for stock ETFs increased from 40.718 billion yuan to 41.396 billion yuan [11] - The highest financing buy amount was 989 million yuan for the Huaxia SSE Sci-Tech 50 ETF [11] ETF Market Size - The total size of the ETF market reached 4.380227 trillion yuan, with stock ETFs accounting for 3.070385 trillion yuan [14] - Stock ETFs represented 81.0% of the total number of ETFs and 70.1% of the total market size [16] New ETF Issuance - Ten new ETFs were issued, including various AAA technology innovation company bond ETFs [17] Industry Insights - Guojin Securities remains bullish on rare earth prices, citing strategic importance and potential price increases due to U.S. government actions [18] - Dongwu Securities predicts a significant performance surge in the rare earth industry for Q2, with a notable increase in prices and demand for rare earth oxides [19]