重要消息 6月27日，沪深交易所就调整主板风险警示股票价格涨跌幅限制比例及有关事项公开征求意见，拟将主板风险警示股票价格涨跌幅限制比例由5%调整为 10%，与主板其他股票保持一致。 但投资者应当注意，涨跌幅限制调整后股票日内可波动空间更大，投资者需充分了解风险警示制度、风险警示股票交易规定和被实施风险警示上市公司的基本 面情况，特别关注相关提示性公告，根据自身财务状况、风险承受能力等，审慎考虑是否买入风险警示股票，避免遭受损失。 重要的消息有哪些 海关总署发布公告，在持续开展针对日本福岛核污染水排海的长期国际监测和中方独立取样监测且结果未见异常，日本政府承诺保障输华水产品质量安全的 前提下，根据我国食品安全法律法规和世界贸易组织《实施卫生与植物卫生措施协定》有关原则，为维护消费者合法权益，中方决定有条件恢复日本部分地 区水产品进口。 沪深交易所就调整主板风险警示股票价格涨跌幅限制比例及有关事项公开征求意见，拟将主板风险警示股票价格涨跌幅限制比例由5%调整为10%，调整后与 主板其他股票保持一致。 香港财政司司长陈茂波表示，稳定币的法例将在今年8月1日生效，特区政府及金融监管机构将致力营造有利的市场环境，配以必 ...

Group 1: Logistics and Economic Data - In the first five months of the year, the total social logistics in China reached 138.7 trillion yuan, representing a year-on-year growth of 5.3% [1] - In May alone, the logistics growth was 5.0%, a decrease of 0.5 percentage points from the previous month, indicating a narrowing fluctuation [1] Group 2: Company News - Chengdu XianDao announced the termination of its acquisition of approximately 65% of Nanjing Haina Pharmaceutical Technology Co., Ltd. due to failure to reach consensus on core terms after extensive discussions [3] - DeGuTe plans to acquire control of Haowei Technology through a combination of share issuance and cash payment, which is expected to constitute a major asset restructuring, with stock suspension starting June 30 [4] - *ST King Kong's subsidiary signed a service agreement worth 399 million yuan for a five-year period to provide computing power services [3] - Unigroup Guowei conducted its first share buyback, repurchasing 775,500 shares at a total cost of approximately 49.62 million yuan [5] Group 3: Market Insights - Wind data indicates that 68 stocks in the A-share market will face a lock-up expiration this week, with a total of 3.165 billion shares worth approximately 81.67 billion yuan being released, marking a week-on-week increase of 46.95% [2] - The report highlights that certain companies, such as Zhongwu Drone and Dizhe Pharmaceutical-U, will see significant increases in their market float due to the release of locked shares [2] Group 4: Research Insights - Everbright Securities suggests that short-term exports may maintain high growth, with domestic consumption being a key driver for economic recovery, recommending focus on domestic demand, localization, and sectors underfunded by investment funds [6] - Zhongtai Securities recommends positioning in the bond market and dividend assets, while also highlighting opportunities in the technology sector related to AI capital expenditures, which have seen improved valuations and chip structures [6]

Market Commentary - The easing of internal and external risks has improved risk appetite, with short-term negotiations boosting market sentiment, leading to a potential upward trend. However, after the positive news is priced in, there may be a lack of strong catalysts, and the domestic economy continues to show signs of weak recovery. Structural opportunities are expected to become more prominent in the second half of 2025 under the backdrop of macro policies and stabilization funds [1] - The easing of tariff disputes between China and the U.S. has exceeded market expectations, with the U.S. showing a more urgent willingness to reach an agreement due to multiple constraints. The short-term impact of tariffs on the market is weakening, but caution is advised regarding the potential for policy reversals reminiscent of Trump's administration [1] Domestic Economic Recovery - The temporary pause in tariffs is expected to accelerate export opportunities, while social financing and credit show uneven performance, indicating a need for stronger domestic demand policies. The new regulations on asset restructuring and policy support for technology finance are likely to attract foreign investment back to China [2] - Under the recovery of market risk appetite, sectors such as technology and export-oriented industries (e.g., machinery and automotive) are expected to benefit directly from the easing of U.S.-China trade tensions. The focus will shift towards new productive forces, with AI capital expenditures and domestic substitution accelerating [2] Financial Data Insights - In April, new credit amounted to 0.28 trillion yuan, while the total social financing increased by 1.16 trillion yuan, with a year-on-year growth of 8.7% in social financing stock and an 8.0% increase in M2 [5] - The financial data indicates strong fiscal expansion supporting social financing and M2 growth, but the internal credit tightening may continue, suggesting that the recovery of internal financing demand is still pending [6] Overseas Economic News - The U.S. April CPI increased by 2.3% year-on-year, lower than expected and previous values, while the core CPI remained stable at 2.8% [7] - The U.S. April CPI marks the lowest level since February 2021, indicating that the impact of tariffs has not fully materialized yet. The recent tariff reductions have significantly weakened inflation risks, leading to expectations that the Federal Reserve will maintain a wait-and-see approach regarding interest rate cuts [8] Asset Allocation Recommendations - The A-share market experienced fluctuations with accelerated sector rotation, with beauty care, non-bank financials, and automotive sectors leading gains. The market's risk appetite has improved following the U.S.-China joint statement, but there is a lack of strong catalysts for further upward movement [14] - The strategy focuses on actively positioning in core assets, leveraging both technology and dividend themes. The expansion of insurance capital pilot programs and the reduction of stock risk factors are expected to release over 100 billion yuan in incremental funds, favoring high-dividend assets in a low-interest-rate environment [15]