Core Viewpoint - International Composites (301526) has shown a positive performance with a closing price of 5.24 yuan, reflecting a 2.75% increase as of August 13, 2025, indicating a potential upward trend in the stock price [1]. Financial Performance - The company reported a main revenue of 1.869 billion yuan for Q1 2025, representing a year-on-year increase of 21.68% [3]. - The net profit attributable to shareholders was 52.67 million yuan, up 176.96% year-on-year [3]. - The net profit after deducting non-recurring gains and losses was 44.38 million yuan, showing a 152.71% increase year-on-year [3]. - The company's debt ratio stands at 57.33% [3]. Market Position - International Composites has a total market value of 19.759 billion yuan, ranking 5th in the glass fiber industry [3]. - The company's net assets are valued at 8.994 billion yuan, placing it 6th in the industry [3]. - The price-to-earnings ratio (P/E) is 93.78, which ranks 13th among its peers [3]. - The price-to-book ratio (P/B) is 2.47, ranking 11th in the industry [3]. - The gross margin is 14.9%, while the net margin is 3.37%, ranking 14th in the industry [3]. - Return on equity (ROE) is at 0.66%, also ranking 14th [3]. Capital Flow Analysis - On August 13, 2025, the net inflow of main funds was 57.93 million yuan, accounting for 7.73% of the total transaction amount [1][2]. - Retail investors experienced a net outflow of 55.92 million yuan, representing 7.46% of the total transaction amount [1][2]. - Over the past five days, the stock has seen fluctuations in capital flow, with notable changes in both main and retail investor activities [2].

天眼查商业履历信息显示，深圳市英唐智能控制股份有限公司，成立于2001年，位于深圳市，是一家以 从事计算机、通信和其他电子设备制造业为主的企业。企业注册资本113759.7085万人民币，实缴资本 113759.7085万人民币。公司法定代表人为胡庆周。 通过天眼查大数据分析，深圳市英唐智能控制股份有限公司共对外投资了20家企业，参与招投标项目3 次，知识产权方面有商标信息66条，专利信息67条，此外企业还拥有行政许可17个。 来源：金融界 金融界消息 截至2025年8月13日收盘，英唐智控（300131）报收于9.06元，上涨0.67%，换手率4.37%， 成交量45.49万手，成交金额4.11亿元。 资金流向方面，今日主力资金净流出3175.64万元，占比成交额7.72%。其中，超大单净流出1282.52万 元、占成交额3.12%，大单净流出1893.12万元、占成交额4.6%，中单净流出流出1842.30万元、占成交 额4.48%，小单净流入5017.94万元、占成交额12.21%。 英唐智控最新一期业绩显示，截至2025一季报，公司营业总收入12.64亿元、同比增长0.55%，归属净利 润1741.2 ...

金融界消息 截至2025年8月13日收盘，湘邮科技（600476）报收于18.75元，上涨1.13%，换手率 4.93%，成交量7.94万手，成交金额1.48亿元。 资金流向方面，今日主力资金净流入1228.79万元，占比成交额8.3%。其中，超大单净流出260.64万 元、占成交额1.76%，大单净流入1489.43万元、占成交额10.06%，中单净流出流出533.95万元、占成交 额3.61%，小单净流出694.84万元、占成交额4.69%。 通过天眼查大数据分析，湖南湘邮科技股份有限公司共对外投资了6家企业，参与招投标项目729次，知 识产权方面有商标信息67条，专利信息33条，此外企业还拥有行政许可3个。 来源：金融界 湘邮科技最新一期业绩显示，截至2025一季报，公司营业总收入1.01亿元、同比增长25.20%，归属净利 润555.33万元，同比增长171.49%，扣非净利润537.67万元，同比增长369.98%，流动比率0.580、速动比 率0.479、资产负债率87.81%。 天眼查商业履历信息显示，湖南湘邮科技股份有限公司，成立于2000年，位于长沙市，是一家以从事电 信、广播电视和卫星传输 ...

金融界消息 截至2025年8月13日收盘，毅昌科技（002420）报收于6.9元，下跌0.14%，换手率5.63%， 成交量22.54万手，成交金额1.55亿元。 天眼查商业履历信息显示，广州毅昌科技股份有限公司，成立于1997年，位于广州市，是一家以从事电 气机械和器材制造业为主的企业。企业注册资本40884万人民币，实缴资本33800万人民币。公司法定代 表人为宁红涛。 通过天眼查大数据分析，广州毅昌科技股份有限公司共对外投资了24家企业，参与招投标项目64次，知 识产权方面有商标信息106条，专利信息444条，此外企业还拥有行政许可92个。 来源：金融界 资金流向方面，今日主力资金净流入1274.41万元，占比成交额8.2%。其中，超大单净流入1213.42万 元、占成交额7.81%，大单净流入60.99万元、占成交额0.39%，中单净流出流出215.05万元、占成交额 1.38%，小单净流出1059.36万元、占成交额6.82%。 毅昌科技最新一期业绩显示，截至2025一季报，公司营业总收入7.18亿元、同比增长25.47%，归属净利 润2189.09万元，同比减少59.42%，扣非净利润1979.2 ...

金融界消息 截至2025年8月13日收盘，丽江股份（002033）报收于8.9元，下跌0.22%，换手率2.41%， 成交量13.25万手，成交金额1.18亿元。 天眼查商业履历信息显示，丽江玉龙旅游股份有限公司，成立于2001年，位于丽江市，是一家以从事公 共设施管理业为主的企业。企业注册资本54949.0711万人民币，实缴资本54949.0711万人民币。公司法 定代表人为和献中。 通过天眼查大数据分析，丽江玉龙旅游股份有限公司共对外投资了14家企业，参与招投标项目63次，知 识产权方面有商标信息52条，此外企业还拥有行政许可18个。 来源：金融界 资金流向方面，今日主力资金净流入1589.73万元，占比成交额13.46%。其中，超大单净流出0.73万 元、占成交额0.01%，大单净流入1590.47万元、占成交额13.46%，中单净流出流出226.26万元、占成交 额1.92%，小单净流出1363.47万元、占成交额11.54%。 丽江股份最新一期业绩显示，截至2025中报，公司营业总收入3.78亿元、同比减少1.85%，归属净利润 9450.22万元，同比减少15.86%，扣非净利润9610.60万 ...

Group 1 - The stock price of Chengyi Pharmaceutical is reported at 15.65 yuan as of August 12, 2025, reflecting a decrease of 0.33 yuan from the previous trading day [1] - The opening price for the day was 16.16 yuan, with a highest point of 16.45 yuan and a lowest point of 15.26 yuan, resulting in an intraday volatility of 7.45% [1] - The trading volume reached 548,445 hands, with a total transaction amount of 870 million yuan [1] Group 2 - Chengyi Pharmaceutical primarily engages in chemical pharmaceutical business, with products covering various therapeutic areas including anti-infection drugs, anti-tumor drugs, and cardiovascular drugs [1] - The company is headquartered in Zhejiang Province and holds a certain market position in the pharmaceutical manufacturing sector [1] Group 3 - On August 12, the net outflow of main funds was 39.1563 million yuan, with a cumulative net outflow of 90.5487 million yuan over the past five trading days [1] - The stock experienced rapid fluctuations during the trading session, with a quick 2% drop at 9:37 AM followed by a 2% rebound at 9:50 AM, indicating active market trading [1]

Core Viewpoint - The stock of Kaichuang International (600097) has shown a slight decline, with a closing price of 11.22 yuan on August 12, 2025, down by 0.36% [1] Group 1: Stock Performance and Trading Data - On August 12, 2025, the stock had a turnover rate of 1.85%, with a trading volume of 44,500 lots and a total transaction amount of 50.01 million yuan [1] - The net outflow of main funds was 6.94 million yuan, accounting for 13.88% of the total transaction amount, while retail investors saw a net inflow of 4.61 million yuan, representing 9.22% of the total [1] - Over the past five days, the stock has experienced fluctuations in fund flows, with notable net outflows from main funds on several days [2] Group 2: Financial Metrics and Industry Comparison - As of the first quarter of 2025, Kaichuang International reported a main revenue of 583 million yuan, a year-on-year increase of 5.04%, and a net profit attributable to shareholders of 12.92 million yuan, up 70.33% year-on-year [3] - The company has a total market value of 2.703 billion yuan, with a net asset value of 2.296 billion yuan, and a net profit of 12.92 million yuan, which is below the industry average [3] - Key financial ratios include a price-to-earnings ratio of 52.31 and a price-to-book ratio of 1.2, with a gross margin of 32.46% and a net margin of 2.41% [3]

Core Points - Jianghan New Materials (江瀚新材) reported a closing price of 25.29 yuan as of August 12, 2025, with a decrease of 0.28% [1] - The company experienced a net outflow of main funds amounting to 10.76 million yuan, representing 26.57% of the transaction amount [1] - The latest quarterly report shows total revenue of 492 million yuan, a year-on-year decrease of 16.20%, and a net profit attributable to shareholders of 96.60 million yuan, down 37.39% year-on-year [1] Financial Performance - Total revenue for the first quarter of 2025 was 492 million yuan, reflecting a 16.20% decrease compared to the previous year [1] - Net profit attributable to shareholders was 96.60 million yuan, a decline of 37.39% year-on-year [1] - The company's current ratio is 11.024, quick ratio is 10.575, and debt-to-asset ratio is 8.74% [1] Company Overview - Jianghan New Materials Co., Ltd. was established in 1998 and is located in Jingzhou, primarily engaged in the manufacturing of chemical raw materials and products [2] - The company has a registered capital of 3.73 billion yuan and a paid-in capital of 1.22 billion yuan [1] - The legal representative of the company is Gan Shuguan [1] Investment and Intellectual Property - The company has made investments in 2 external enterprises and participated in 33 bidding projects [2] - Jianghan New Materials holds 2 trademark registrations and 124 patents, along with 640 administrative licenses [2]

证 券 研 究 报 告 政策不确定性下降，7月全球资金回流美股美债 www.swsresearch.com 证券研究报告 2 ◼ 7月全球资产价格回顾：7月受益于大而美法案的通过，政策不确定性落地提升全球资金风险偏好，多数权益类资产涨幅靠前，亚太类市场领涨全球。1）权益方面，7月一方面关税冲击 的影响逐步消退，市场开始逐步适应特朗普的执政风格，另一方面大而美法案的通过提升资金风险偏好，亚太股市，尤其是A股、越南股市和香港股市涨幅靠前；2）固收层面，7月美联 储不降息基本符合市场预期，10年美债收益率先升后降，整体来看7月变动幅度不大，美元指数则反弹3.40%；3）商品层面，本月原油价格有所反弹，受益于全球经济基本面的提升预期 以及沙特和俄罗斯减产计划，布伦特原油价格上涨9.4%；黄金下跌1.6%。 ◼ 7月美国大而美法案于7月3日获得众议院通过。大而美法案中囊括了国防、边境安全、能源政策、医疗补助、社会福利、教育等多项支出的增减；从金额来看，法案计划在未来10年内减 税4万亿美元、削减至少1.5万亿美元支出。该项综合性财政法案通过后，提升了全球资金的风险偏好，7月以来，中国、中国香港、美国和欧洲的主要股指均录 ...

Group 1 - The core viewpoint of the news is that Meichen Technology (300237) has shown a mixed performance in its latest financial results, with a decline in revenue but a significant increase in net profit [1] - As of August 11, 2025, Meichen Technology's stock closed at 2.1 yuan, up 0.48%, with a trading volume of 554,900 hands and a transaction amount of 116 million yuan [1] - The company's latest quarterly report indicates total operating revenue of 405 million yuan, a year-on-year decrease of 6.14%, while net profit attributable to shareholders reached 48.39 million yuan, a year-on-year increase of 47.84% [1] Group 2 - Meichen Technology has a current liquidity ratio of 0.950 and a quick ratio of 0.870, indicating its short-term financial health [1] - The company has a high debt-to-asset ratio of 96.74%, suggesting significant leverage [1] - Meichen Technology has made investments in 18 companies and has participated in five bidding projects, showcasing its active engagement in the market [2]