记者丨刘雪莹 编辑丨曾静娇 开源证券表示，人形机器人板块调整趋近尾声，风险释放较为充分，对行业预期更加理性且一致；同时海外特斯拉和国内产业进展持续加速， 后续强催化较多。展望2026年，"趋势走强、景气上行"的布局窗口已然开启。 12月4日，A股市场早盘探底回升，创业板指盘中下跌0.5%，而后翻红一度涨超1%。沪深两市半日成交额1.04万亿，较上个交易日缩量555亿。 全市场近3500只个股下跌。 | 行情 | 资金净流入 | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 北证50 | | 3879.52 | 13000.88 | 1395.62 | | +1.52 +0.04% +45.63 +0.35% +3.14 +0.23% | | | | 科创50 | 创业板指 | 万得全A | | 1320.44 | 3059.76 | 6187.44 | | +12.08 +0.92% +22.97 +0.76% +8.15 +0.13% | | | | 沪深300 | 中证500 | 中证A500 | | 4543.93 | 7021.22 | 5458.54 | | ...

2025.12.04 本文字数：1321，阅读时长大约2分钟 作者 |一财阿驴 11:31 A股午盘丨创业板指半日涨0.76% 截至午盘，上证指数涨0.04%，深证成指涨0.35%，创业板指涨0.76%。 盘面上，机器人产业链活跃，具身智能、宇树机器人方向领涨；商业航天、低空经济概念股携手走强。 超硬材料、大消费、AI穿戴概念股走弱。 | 板块名称 | 涨幅量 | 涨速 | 涨停数 | | --- | --- | --- | --- | | 电机 | +2.58% | +0.04% | 0 | | 减速器 | 0 +2.03% | +0.02% | 3 | | 人形机器人 | 0 +1.35% | -0.00% | 7 | | 工业母机 | 0 +1.29% | +0.03% | 5 | | 航空发动机 @ +1.11% | | -0.01% | 3 | | 自动化设备 | +1.09% | +0.02% | 1 | | 同花顺新质50 @ +1.04% | | +0.02% | 11 | | 国家大基金 ... 0 +0.97% | | -0.09% | 0 | | 成飞概念 | 0 +0.88% | +0 ...

Core Viewpoint - The article discusses the performance of the A-share market, highlighting the active sectors such as robotics and commercial aerospace, while noting the decline in sectors like superhard materials and consumer electronics. Market Performance - As of the midday session, the Shanghai Composite Index rose by 0.04%, the Shenzhen Component Index increased by 0.35%, and the ChiNext Index gained 0.76% [3] - The total trading volume in the Shanghai and Shenzhen markets reached 1.03 trillion yuan, a decrease of 35 billion yuan compared to the previous trading day [3] Sector Highlights - The robotics industry chain showed strong performance, with companies like Junya Technology and Longxi Co. hitting the daily limit [11] - The commercial aerospace sector also performed well, with stocks like Aerospace Development hitting the daily limit for the 10th consecutive trading day [7] - The copper sector was active, with companies like Luoyang Molybdenum and Cangge Mining seeing gains of over 4%, driven by record high copper prices on the London Metal Exchange [9] Notable Stocks - The "23 Vanke 01" bond saw a price increase of over 90% before being temporarily suspended [7] - The stock of Moer Thread surged ahead of its listing on the Sci-Tech Innovation Board [9] Overall Market Sentiment - The market experienced a mixed sentiment with over 3,500 stocks declining, indicating a broader market weakness despite the gains in specific sectors [3][5]

Core Viewpoint - The A-share market showed significant activity with 31 stocks hitting the daily limit up and 7 stocks hitting the limit down, indicating a volatile trading environment on December 4th [1] Group 1: Stock Performance - Aerospace-related stocks were notably active, with Aerospace Machinery achieving three limit ups in five days [1] - The reducer concept stocks strengthened, with Jiu Lun Intelligent and Ri Fa Precision both hitting the limit up [1] - The Moore Thread concept saw gains, with Lian Mei Holdings and Chu Ling Information also reaching the limit up [1] Group 2: Continuous Limit Up Stocks - Hai Wang Biological achieved seven consecutive limit ups [1] - Rui Neng Technology recorded five limit ups in six days [1] - Gao Le Co., Ltd. had four consecutive limit ups, while Tai Yang Cable and An Ji Food both achieved three consecutive limit ups [1] Group 3: Limit Down Stocks - ST Yuan Zhi faced three consecutive limit downs [1] - *ST Zheng Ping experienced two consecutive limit downs [1] - Other stocks such as *ST Ao Wei and *ST Jian Yi also hit the limit down [1]

摩尔线程概念持续走强，初灵信息、联美控股双双涨停，和而泰、盈趣科技、大众公用、七匹狼、中科 蓝讯、宏力达等跟涨。 ...

Market Overview - The expectation for a Federal Reserve rate cut in December has sharply increased, leading to a rise in Hong Kong stocks, with the Hang Seng Index briefly surpassing 26,000 points [1] - The Hang Seng Index closed up 0.69% at 25,894.55 points, with a total turnover of HKD 231.149 billion [1] Blue Chip Performance - Xiaomi Group-W (01810) saw a notable increase of 4.35%, closing at HKD 40.34, contributing 47.94 points to the Hang Seng Index [2] - Founder Lei Jun invested over HKD 100 million to purchase 2.6 million shares, raising his stake to 23.26%, indicating confidence in the company's growth potential [2] - Other blue chips like Baidu Group-SW (09888) and Alibaba Health (00241) also performed well, with increases of 4.56% and 4.36% respectively [2] Sector Highlights - Major technology stocks generally rose, with AI application and computing power sectors showing significant activity, including a 5% increase in Bilibili [3] - Lithium stocks surged in the afternoon, with Tianqi Lithium rising 4.81% and Ganfeng Lithium up 3.46%, driven by increasing demand for lithium materials [4] - Gold stocks mostly rose, with notable increases in Chifeng Jilong Gold and Zijin Mining, amid expectations of a rate cut by the Federal Reserve [5] Airline Sector - Airline stocks continued to decline, with China Eastern Airlines dropping 5.9% and China Southern Airlines down 1.94%, attributed to a significant increase in flight cancellations to Japan [6] Notable Stock Movements - Longpan Technology (02465) surged 22.89% after signing a supplementary agreement with Chuangneng New Energy for sales exceeding HKD 45 billion [7] - Hesai Technology (02525) rose 13.43% following the launch of a new high-performance smart control chip [7] - The stock of Shandong Xinhua Pharmaceutical (00719) increased by 7.24% due to a spike in demand for flu medications during the flu season [10]

Core Viewpoint - The stock of Moore Threads, known as the "first domestic GPU stock," has shown significant market activity, with a high subscription rate for its recent issuance, indicating strong investor interest [1] Group 1: Market Performance - Moore Threads' stock has been actively traded, with related companies such as Dazhong Public, Chuling Information, Heertai, Lianmei Holdings, Yingqu Technology, and Zhejiang University Network New also experiencing price increases [1] - The initial subscription multiple for the online issuance reached 4126.49 times, reflecting high demand [1] - After activating the callback mechanism, the final online issuance winning rate was determined to be 0.03635054% [1] Group 2: Financial Implications - The issuance price of Moore Threads was set at 114.28 yuan per share, with a single subscription amounting to 5.71 million yuan for 500 shares [1] - If the stock price doubles upon listing, investors could earn over 50,000 yuan, and if it triples, earnings could exceed 100,000 yuan [1] - Year-to-date, new stocks listed on the Sci-Tech Innovation Board have seen first-day opening, closing, and average price increases exceeding 200% [1]

Group 1 - Dazhong Public (600635) shares rose over 8%, reaching a peak increase of 8.66% at HKD 4.14, with a trading volume of HKD 218 million [1] - The highly anticipated result of the Moer Thread's issuance lottery was announced, with an initial subscription multiple of 4126.49 times, leading to a final winning rate of 0.03635054% after the callback mechanism was activated [1] - Moer Thread's IPO price reached a record high of RMB 114.28 per share, marking the highest issuance record in the A-share IPO market for the year [1] Group 2 - Dazhong Public's main business segments include urban gas, environmental municipal services, and financial investment, with a significant stake in Shenzhen Capital Group [1] - The company directly holds 10.8% of Shenzhen Capital Group's shares, ranking fourth among all shareholders, and its total stake, including indirect holdings, amounts to 13.93% [1] - Shenzhen Capital Group has numerous external investment projects, including notable IPO candidates such as Yushu Technology and Moer Thread [1]

消息面上，11月24日晚间，备受关注的摩尔线程发行中签率结果出炉。网上发行初步的申购倍数达 4126.49倍。启动回拨机制后，网上发行最终中签率为0.03635054%。此次科创板上市后，摩尔线程将成 为"国产GPU第一股"，该股发行价高达114.28元/股，创下了今年A股IPO市场的最高发行纪录。 公开资料显示，大众公用目前主营业务主要涵盖城市燃气、环境市政、金融创投三大块。该公司是深创 投的主要股东之一。行业洞察系统股权穿透显示，大众公用直接持有10.8%的深创投股份，在全部深创 投股东中持股比例位列第四。若加上间接持股，则总持股比例达到了13.93%。而深创投的对外投资项 目众多，其中就包括了宇树科技和摩尔线程两大拟IPO明星企业。 智通财经APP获悉，大众公用(01635)涨超8%，公司A股涨停。截至发稿，涨8.66%，报4.14港元，成交 额2.18亿港元。 ...

Group 1 - Hainan sector shows active trading with companies like Jingliang Holdings and Hainan Haiyao experiencing significant price increases [2] - Zhongshui Fishery hits a limit up, marking its seventh consecutive trading day of gains [2] - Solid-state battery concept stocks are active, with GAC Group hitting a limit up and other companies like Funeng Technology and Liyuanheng also seeing gains due to the establishment of a large-capacity solid-state battery production line [3] Group 2 - Lithium mining stocks continue to adjust, with companies like Guocheng Mining and Shengxin Lithium Energy hitting the limit down [4] - A-shares open higher, with the Shanghai Composite Index up 0.36% and the Shenzhen Component Index up 0.53% [5] - The market sees active trading in sectors such as 6G, optical communication, AI applications, and battery technology, while lithium and aquaculture themes are experiencing a pullback [6] Group 3 - Hong Kong stocks open higher, with the Hang Seng Index up 0.92% and the Hang Seng Tech Index up 1.13%, driven by rebounds in tech and new energy vehicle stocks [7]