Market Overview - The Sci-Tech Innovation Board (科创板) index fell by 0.89%, closing at 983.11 points, with a total trading volume of 2.85 billion shares and a turnover of 94.90 billion yuan, resulting in a weighted average turnover rate of 1.59% [1] - Among the tradable stocks on the Sci-Tech Innovation Board, 180 stocks closed higher, with 5 stocks rising over 10%, including Aowei New Materials, Haosen Intelligent, and Qinchuan Internet of Things, which hit the daily limit [1] Trading Activity - The distribution of turnover rates shows that 2 stocks had turnover rates exceeding 20%, 11 stocks had rates between 10% and 20%, and 36 stocks had rates between 5% and 10% [1] - C Yitang, a newly listed stock, had the highest turnover rate at 50.54%, closing down by 9.66% with a trading volume of 2.20 billion yuan and a net outflow of 134 million yuan [1][2] - Other notable stocks with high turnover rates include Jinchengzi, which closed down by 5.60% with a turnover rate of 25.85%, and Xinyuren, Sikan Technology, and Meidixi, with turnover rates of 18.75%, 16.84%, and 16.24% respectively [1][2] Sector Performance - In the high turnover rate stocks, the pharmaceutical and biological sector had the most representation, with 10 stocks listed, followed by the power equipment and machinery sectors, each with 8 stocks [2] - Among the high turnover stocks, 23 stocks saw an increase, with Haosen Intelligent, Qinchuan Internet of Things, and Meidixi leading with gains of 20.02%, 19.98%, and 13.36% respectively [2] Fund Flow - In terms of fund flow, 22 stocks experienced net inflows, with the highest inflows seen in Huyou Pharmaceutical, Jinchengzi, and Jiayuan Technology, with net inflows of 59.84 million yuan, 40.28 million yuan, and 38.97 million yuan respectively [2] - Conversely, C Yitang, Zhengfan Technology, and Weice Technology had the largest net outflows, with outflows of 134 million yuan, 62.06 million yuan, and 61.24 million yuan respectively [2] Leverage Fund Movements - Recent data indicates that 28 stocks have received net purchases from leveraged funds, with C Yitang, Huyou Pharmaceutical, and Rongchang Bio having the largest increases in financing balances of 208 million yuan, 114 million yuan, and 6.05 million yuan respectively [3]

Market Performance - The Sci-Tech Innovation Board (STAR Market) index fell by 0.66%, closing at 978.29 points, with a total trading volume of 2.401 billion shares and a turnover of 81.468 billion yuan, resulting in a weighted average turnover rate of 1.35% [1] - Among the tradable stocks on the STAR Market, 281 stocks closed higher, with 3 stocks rising over 10% and 17 stocks rising between 5% and 10%. Conversely, 292 stocks closed lower, with 2 stocks declining over 10% [1] Turnover Rate Analysis - The turnover rate distribution shows that 2 stocks had a turnover rate exceeding 20%, 10 stocks had a turnover rate between 10% and 20%, and 28 stocks had a turnover rate between 5% and 10%. Additionally, 76 stocks had a turnover rate between 3% and 5%, while 270 stocks had a turnover rate between 1% and 3%, and 202 stocks had a turnover rate below 1% [1] - The stock with the highest turnover rate was Jin Chengzi, which closed up by 15.37% with a turnover rate of 32.88% and a transaction amount of 397 million yuan. Other notable stocks included Si Kan Technology, which rose by 13.81% with a turnover rate of 26.69% and a transaction amount of 405 million yuan [1] Sector Performance - In terms of sector performance, the pharmaceutical and biotechnology sector had the highest representation among stocks with a turnover rate exceeding 5%, with 10 stocks listed. The electronics and power equipment sectors followed, with 7 and 5 stocks, respectively [2] Capital Flow - Among high turnover stocks, 21 stocks experienced net inflows of main funds, with significant net inflows seen in Changyang Technology, Si Kan Technology, and South Network Technology, amounting to 45.33 million yuan, 42.70 million yuan, and 39.75 million yuan, respectively. Conversely, stocks like Kexing Pharmaceutical, Youfang Technology, and Rongchang Biology saw significant net outflows, with amounts of 116 million yuan, 62.64 million yuan, and 31.08 million yuan, respectively [2] - Recent trends in leveraged funds indicated that 30 stocks received net purchases of leveraged funds, with Kexing Pharmaceutical, Weixin Biotechnology, and Huiyu Pharmaceutical showing the largest increases in financing balances, amounting to 117 million yuan, 88.84 million yuan, and 56.62 million yuan, respectively. In contrast, stocks like Rongchang Biology, Liyang Chip, and Xinpengwei saw significant decreases in financing balances [2]

Market Performance - The Sci-Tech Innovation Board (STAR Market) index fell by 0.01%, closing at 984.80 points, with a total trading volume of 2.973 billion shares and a turnover of 102.415 billion yuan, resulting in an average turnover rate of 1.67% [1] - Among the tradable stocks on the STAR Market, 126 stocks closed higher, with 5 stocks rising over 10% and 9 stocks rising between 5% and 10%. Conversely, 456 stocks closed lower, with 2 stocks declining over 10% [1] Stock Turnover Rates - The distribution of turnover rates shows that 2 stocks had turnover rates exceeding 20%, 6 stocks had rates between 10% and 20%, 63 stocks had rates between 5% and 10%, 89 stocks had rates between 3% and 5%, 284 stocks had rates between 1% and 3%, and 144 stocks had rates below 1% [1] - The stock with the highest turnover rate was Xinyuren, which closed down by 12.03% with a turnover rate of 27.05% and a trading volume of 457 million yuan. Jin Chengzi followed with a 5.51% increase and a turnover rate of 26.74% [1] Sector Analysis - In terms of sector performance, the pharmaceutical and biotechnology sector had the most stocks with a turnover rate exceeding 5%, totaling 21 stocks. The electronics and machinery equipment sectors followed with 15 and 9 stocks, respectively [2] Fund Flow - Among the high turnover stocks, 32 stocks experienced net inflows of main funds, with the highest net inflows seen in Huanyu Pharmaceutical (119 million yuan), Rejing Biological (79.625 million yuan), and Daqian Energy (55.749 million yuan). Conversely, the stocks with the highest net outflows included Yuanjie Technology (82.4535 million yuan), Juxin Technology (82.4145 million yuan), and Rongbai Technology (70.9039 million yuan) [2] Leverage Fund Movements - A total of 50 stocks with high turnover recently received net purchases from leveraged funds. Notably, stocks with significant increases in financing balances included Kexing Pharmaceutical (97.5237 million yuan), Weichip Bio (92.6148 million yuan), and Ruikeda (76.3542 million yuan). In contrast, stocks with notable decreases in financing balances included Rongchang Biological (60.2381 million yuan), Haibo Sichuang (56.7112 million yuan), and Guangda Special Materials (37.4973 million yuan) [3]

Group 1 - The average stock price of the Sci-Tech Innovation Board is 30.66 yuan, with 38 stocks priced over 100 yuan, and the highest priced stock is Cambricon at 547.47 yuan [1][2] - Among the stocks priced over 100 yuan, 126 stocks increased in price today, while 456 stocks decreased, with an average increase of 0.47% for the hundred-yuan stocks [1][2] - The average premium of the hundred-yuan stocks relative to their issue price is 342.63%, with the highest premiums from Baili Tianheng, Anji Technology, and Hotgen Biotech at 1143.52%, 1134.82%, and 938.74% respectively [1][2] Group 2 - The net outflow of main funds from the hundred-yuan stocks today totaled 3.56 billion yuan, with the highest net inflows from Hotgen Biotech, Zhongwei Company, and Chip Source at 7962.57 million yuan, 6166.17 million yuan, and 4054.76 million yuan respectively [2] - The total margin balance for the hundred-yuan stocks is 262.17 billion yuan, with the highest margin balances held by Cambricon, Haiguang Information, and Zhongwei Company at 43.37 billion yuan, 36.53 billion yuan, and 27.35 billion yuan respectively [2] - The hundred-yuan stocks are concentrated in the electronics, pharmaceutical biology, and computer industries, with 20, 8, and 5 stocks respectively [1][2]

Core Insights - The average stock price of the Sci-Tech Innovation Board is 30.77 yuan, with 39 stocks priced over 100 yuan, the highest being Cambricon at 547.30 yuan [1][2] - A total of 365 stocks increased in price today, while 208 stocks decreased, with the average increase for stocks over 100 yuan being 0.34% [1][2] - The average premium of stocks over their issue price for those priced over 100 yuan is 327.13%, with notable premiums for companies like Anji Technology and Baile Tianheng [1][2] Stock Performance - Cambricon closed at 547.30 yuan, up 0.40%, followed by Baile Tianheng at 298.00 yuan and Huitai Medical at 294.38 yuan [1][2] - Among the stocks priced over 100 yuan, 23 stocks increased, with the largest gainers being Hotgen Biotech, Zexin Pharmaceutical, and Naxin Micro [1][2] - The stocks with the largest declines included Longxin Technology, Sirepu, and Zhongke Lanyun [1][2] Industry Distribution - The stocks priced over 100 yuan are concentrated in the electronics, pharmaceutical, and computer industries, with 20, 8, and 5 stocks respectively [1][2] - The total net outflow of main funds from stocks priced over 100 yuan today was 5.46 billion yuan, with notable inflows into companies like Siterui and Zexin Pharmaceutical [2] - The total financing balance for stocks priced over 100 yuan is 26.624 billion yuan, with Cambricon leading at 4.478 billion yuan [2][3]

Market Overview - The Sci-Tech Innovation Board (STAR Market) index fell by 1.22%, closing at 982.64 points, with a total trading volume of 2.847 billion shares and a turnover of 93.68 billion yuan, resulting in a weighted average turnover rate of 1.60% [1] - Among the tradable stocks on the STAR Market, 105 stocks closed higher, with 3 stocks rising over 10% and 5 stocks rising between 5% and 10%. Conversely, 476 stocks closed lower [1] Trading Activity - The turnover rate distribution shows that 2 stocks had a turnover rate exceeding 20%, 7 stocks had a turnover rate between 10% and 20%, 51 stocks had a turnover rate between 5% and 10%, 84 stocks had a turnover rate between 3% and 5%, 305 stocks had a turnover rate between 1% and 3%, and 139 stocks had a turnover rate below 1% [1] - The stock with the highest turnover rate was Shengke Nano, which closed down 7.26% with a turnover rate of 27.87% and a transaction amount of 245 million yuan. The second highest was Kaiweite, which closed down 9.11% with a turnover rate of 23.34% and a transaction amount of 327 million yuan [1] Sector Performance - In terms of industry, the electronics and pharmaceutical sectors had the most stocks with a turnover rate exceeding 5%, each with 13 stocks [2] - Among high turnover stocks, 18 stocks experienced net inflows of main funds, with the highest net inflows seen in Daqian Energy (129 million yuan), Kexing Pharmaceutical (84.31 million yuan), and Rongbai Technology (82.93 million yuan) [2] Leverage Fund Movements - A total of 43 stocks received net purchases from leveraged funds, with notable increases in financing balances for Tailin Micro (200 million yuan), Ruikeda (8.35 million yuan), and Shengnuo Biological (7.50 million yuan). Conversely, significant decreases were observed in Rongchang Biological, Juhua Materials, and Guangda Special Materials [2] Notable Stocks - The following stocks had significant trading activity: - Shengke Nano: Latest closing price 26.56 yuan, daily change -7.26%, turnover rate 27.87%, net outflow -33.20 million yuan [3] - Kaiweite: Latest closing price 36.00 yuan, daily change -9.11%, turnover rate 23.34%, net outflow -19.64 million yuan [3] - Daqian Energy: Latest closing price 23.75 yuan, daily change +15.68%, turnover rate 7.23%, net inflow 129.11 million yuan [4]

Core Viewpoint - On July 1, the A-share market experienced a net outflow of 12.6 billion yuan from stock ETFs, indicating a trend of profit-taking among investors [2][3]. Fund Flow Summary - The total number of stock ETFs in the market reached 1,129, with a total scale of 3.59 trillion yuan as of July 1 [4]. - On the same day, 14 stock ETFs saw net inflows exceeding 10 million yuan, with the top three being the Jia Shi Sci-Tech Chip ETF, Huatai-PB Photovoltaic ETF, and Huaxia CSI 500 ETF, each gaining over 400 million yuan [5]. - Commodity gold ETFs also saw a resurgence in net inflows, attracting 950 million yuan on the same day [6]. ETF Performance - The top stock ETFs by net inflow included: 1. Sci-Tech Chip ETF: 6.79 million yuan [7] 2. Photovoltaic ETF: 4.42 million yuan [7] 3. Huaxia CSI 500 ETF: 4.29 million yuan [7] 4. Sci-Tech 50 ETF: 3.44 million yuan [7] - Conversely, significant outflows were observed in broad-based ETFs, particularly the CSI 500 ETF, which saw a net outflow of nearly 7 billion yuan [9]. Market Outlook - The overall trend since June has shown a net outflow of nearly 20 billion yuan from stock ETFs, with the CSI 500 ETF and Sci-Tech Board ETF experiencing net inflows [9]. - Market analysts suggest that the A-share market may continue to experience a volatile consolidation phase, with attention on upcoming policy meetings and corporate earnings reports [9].

Market Sector - The Sci-Tech 50 Index increased by 1.46% in the first half of 2025, ranking second among various sector indices, outperforming the ChiNext 50, Shenzhen 50, and Shanghai 50 indices [2] - As of the end of the first half of 2025, the total market capitalization of the Sci-Tech Board reached 7.62 trillion yuan, an increase of 0.27 trillion yuan or 3.72% from the end of Q1 2025, surpassing the market capitalization growth of the Shenzhen main board [4] - The total trading volume of the Sci-Tech Board in the first half of 2025 was 12.57 trillion yuan, with an average trading volume of 213.85 million yuan per stock, lower than the average trading volumes of the Shanghai and Shenzhen main boards and ChiNext [7][8] - The average daily turnover rate of the Sci-Tech Board was 2.67% in the first half of 2025, higher than that of the Shanghai main board but lower than that of the Shenzhen main board, ChiNext, and the Beijing Stock Exchange [9] - The price-to-book ratio of the Sci-Tech Board at the end of the first half of 2025 was 4.06 times, higher than that of the ChiNext and Shanghai and Shenzhen main boards [12] - The financing balance of the Sci-Tech Board reached 157.15 billion yuan at the end of the first half of 2025, an increase of 11.85 billion yuan from the beginning of the year [14] - The securities lending balance of the Sci-Tech Board was 0.056 billion yuan at the end of the first half of 2025, an increase of 0.0096 billion yuan from the beginning of the year [16] Individual Stocks - SMIC led with a market capitalization exceeding 400 billion yuan, followed by Haiguang Information, Cambrian-U, and BeiGene-U, with seven companies having market capitalizations exceeding 100 billion yuan [18] - Excluding the significant fluctuations on the first day of new stock listings, Sangfor Technologies had the highest increase at 153.60%, followed by Yifang Bio-U, Aerospace South Lake, and Youfang Technology, with 14 companies also exceeding 100% [19] - SMIC had a financing balance of 7.198 billion yuan, leading the list, followed by Cambrian-U, Haiguang Information, and Zhongwei Company, with 16 companies having financing balances exceeding 1 billion yuan [22] - SMIC also had the highest securities lending balance at 19.7038 million yuan, followed by Haiguang Information, Cambrian-U, and Chip Original Co., with six companies exceeding 10 million yuan [25] Industry Themes - In the first half of 2025, companies listed on the Sci-Tech Board were primarily distributed across three Wind Sci-Tech theme industries, with the new generation information technology industry leading with four companies, followed by high-end equipment manufacturing and biotechnology industries, each with one company [29] - Among the seven companies listed on the Sci-Tech Board in the first half of 2025, six met the first standard for listing, which requires positive net profits for the last two years and a cumulative net profit of no less than 50 million yuan, or a positive net profit for the last year with revenue of no less than 100 million yuan, and an expected market capitalization of no less than 1 billion yuan [31] - The companies listed in the first half of 2025 came from Beijing and Jiangsu (two each), and Hubei, Zhejiang, and Guangdong (one each) [34] - The total IPO financing for Sci-Tech Board companies in the first half of 2025 was 7.901 billion yuan, a year-on-year increase of 29.33%, with three companies raising over 1 billion yuan, three between 500 million to 1 billion yuan, and one below 500 million yuan [37] - Yitang Co. led the IPO financing in the first half of 2025 with 2.497 billion yuan, while Yingshi Innovation and Xingfu Electronics each raised over 1 billion yuan [41]

Group 1 - The total trading volume of the Shanghai Stock Exchange Sci-Tech Innovation Board 100 Index ETF reached 1.333 billion yuan today, an increase of 32.67% compared to the previous trading day [1] - The specific trading volumes for individual ETFs include: Sci-Tech 100 ETF (588220) at 474 million yuan, an increase of 84.49%; E Fund Shanghai Stock Exchange Sci-Tech Innovation Board 100 ETF (588210) at 74.42 million yuan, an increase of 1169.20%; and Bosera Sci-Tech 100 ETF (588030) at 330 million yuan, an increase of 15.90% [1][2] - The ETFs with the highest trading volume increases include E Fund Shanghai Stock Exchange Sci-Tech Innovation Board 100 ETF (588210) and GF Shanghai Stock Exchange Sci-Tech Innovation Board 100 Enhanced Strategy ETF (588680), with increases of 1169.20% and 451.36% respectively [1] Group 2 - As of market close, the Shanghai Stock Exchange Sci-Tech Innovation Board 100 Index (000698) rose by 1.59%, while the average increase for related ETFs was 1.60% [2] - The top-performing ETFs included E Fund Shanghai Stock Exchange Sci-Tech Innovation Board 100 Enhanced Strategy ETF (588500) and Sci-Tech 100 (588190), which increased by 2.21% and 1.71% respectively [2] - The trading volume changes for various ETFs show significant fluctuations, with some experiencing substantial increases while others, like Huatai-PineBridge Shanghai Stock Exchange Sci-Tech Innovation Board 100 ETF (589980), saw a decrease of 80.93% [2]

Market Performance - The Sci-Tech Innovation Board (STAR Market) index rose by 1.54%, closing at 1003.41 points, with a total trading volume of 3.253 billion shares and a turnover of 112.786 billion yuan, resulting in a weighted average turnover rate of 1.83% [1] - Among the tradable stocks on the STAR Market, 503 stocks closed higher, with 8 stocks increasing by over 10% and 43 stocks rising between 5% and 10%. Conversely, 77 stocks closed lower [1] Turnover Rate Analysis - The distribution of turnover rates shows that 3 stocks had turnover rates exceeding 20%, 14 stocks had rates between 10% and 20%, 63 stocks had rates between 5% and 10%, 100 stocks had rates between 3% and 5%, 293 stocks had rates between 1% and 3%, and 115 stocks had rates below 1% [1] - The stock with the highest turnover rate was Shengke Nano, which closed down by 4.40% with a turnover rate of 39.48% and a transaction amount of 368 million yuan. In contrast, Xinyu Ren closed up by 8.13% with a turnover rate of 27.42% and a transaction amount of 468 million yuan [1] Sector Performance - In terms of industry, the electronics sector had the highest number of stocks with turnover rates exceeding 5%, totaling 23 stocks, followed by the defense and military industry with 13 stocks and the pharmaceutical and biotechnology sector with 12 stocks [2] - Among high turnover stocks, 44 stocks experienced net inflows of main funds, with the highest net inflows recorded for Guokexing Military Industry, Huqiang Technology, and Youfang Technology, amounting to 60.4615 million yuan, 38.9915 million yuan, and 34.7934 million yuan, respectively [2] Leverage Fund Movements - A total of 46 stocks received net purchases from leveraged funds, with notable increases in financing balances for Tailin Micro, Liyuan Heng, and Juxin Technology, which saw increases of 120 million yuan, 97.1401 million yuan, and 79.6424 million yuan, respectively [2]