Group 1 - WanTai Biologics' nine-valent HPV vaccine has been approved for market launch, targeting women aged 9-45, enhancing the company's product line and core competitiveness [3] - Hainan Huatie is planning to issue shares overseas and list on the Singapore Exchange to advance its international strategy and enhance brand influence [4] - HeXing Co. clarified that it is not involved in "unmanned logistics vehicles" or "autonomous driving" businesses, despite market speculation [5] Group 2 - Maiwei Co. intends to invest 100 million yuan in a fund focused on growth-stage companies in the new energy and semiconductor sectors [6] - SuKun Agricultural Development plans to acquire 28.75% of JinTaiSun Grain and Oil for 178 million yuan, increasing its stake to 80% [7] - CITIC Construction Investment has received approval to issue up to 8 billion yuan in technology innovation corporate bonds to professional investors [8] Group 3 - Beibu Gulf Port reported a cargo throughput of 30.86 million tons in May, a year-on-year increase of 6.43%, with a cumulative throughput of 143 million tons for the year, up 12.96% [10] - Kweichow Moutai has repurchased 3.31 million shares for a total expenditure of 5.1 billion yuan by the end of May [12] - Contemporary Amperex Technology has repurchased 6.64 million A-shares for a total of 1.55 billion yuan by May 31 [13] - Jialong Co. has adjusted its share repurchase price ceiling from 2.20 yuan to 3.50 yuan due to recent stock price increases [14] Group 4 - China Electric Power Construction's subsidiary has won a 6.282 billion yuan energy storage project contract [16] - Xili Technology has been awarded a 1.31 billion yuan project by the State Grid for smart energy meters [17]

Market Overview - On June 4, the market continued to recover, with 3,900 stocks rising and 1,200 stocks falling, including 86 stocks hitting the daily limit up and 2 stocks hitting the limit down [1] - Market hotspots focused on solid-state batteries, IP economy, and beer sectors [1] High-Performance Stocks - Craft beer company Lehui International achieved 5 consecutive limit ups in 7 days, driven by growth in its Q1 report [3][4] - Financial service company Yuyin Co. recorded 5 consecutive limit ups, previously involved in digital currency [3][4] - Autonomous driving concept stocks such as Hexing Co. and Qiaoyin Co. also showed strong performance with multiple limit ups [3][4] Trading Data - The top three net purchases on the Dragon and Tiger list were Jili Rigging (147 million), Keheng Co. (85.86 million), and Huijin Co. (83.08 million) [5] - The top three net sales were Xue Ren Co. (114 million), Huijin Tong (78.64 million), and Hezhuan Intelligent (71.66 million) [5] Stock Performance - Notable stocks included: - Guoshen Youse: +10.00%, price at 52.03, turnover rate 7.29%, total transaction amount 2.56 billion [6] - Jili Rigging: +10.02%, price at 6.37, turnover rate 15.45%, total transaction amount 899 million [6] - Keheng Co.: +20.02%, price at 11.75, turnover rate 15.50%, total transaction amount 373 million [6] Institutional Activity - Institutional net purchases included Huasheng Pharmaceutical (40.36 million), Huijin Co. (38.27 million), and Hengbao Co. (37.82 million) [8] - Institutional net sales were led by Baile Electric (96.78 million), Lepu Medical (68.21 million), and Tianyuan Pet (55.06 million) [9] Sector Highlights - Solid-state battery and rare earth sectors saw significant interest, with Keheng Co. achieving a 20% limit up and a turnover rate of 15.5% [14] - The deep-sea mooring system sector is developing core products with international leading technical indicators, applicable in deep-sea oil and gas platforms [13]

Industry Environment - The globalization of e-commerce has entered a new phase, with digital marketing becoming a key weapon for companies going abroad. From 2012 to 2021, China's cross-border e-commerce market grew 5.7 times to 14.2 trillion yuan, becoming a crucial support for stable foreign trade. The core capability for companies going abroad has shifted to digital marketing, with a projected growth rate of 19% in digital marketing [2] - Mobile phone manufacturers are experiencing a new wave of overseas expansion, focusing on the mid-to-high-end market. Brands like Honor, OPPO, and Xiaomi are achieving success in Europe and Southeast Asia through localized operations and ecosystem building. However, they face challenges such as policies, patent issues, and supply chain complexities [3] - Chinese tea brands are accelerating their expansion into the U.S. market, with companies like Luckin Coffee and Nayuki opening new stores and focusing on health-oriented product innovation [6] New Opportunities in Europe - The synchronous lifting of restrictions between China and Europe presents new opportunities for expansion. The European market is witnessing trends of consumption upgrading and green transformation, with 80% of consumers willing to pay a premium for sustainable products. Chinese companies are advised to enhance product quality and adapt to cultural differences [7] Trade Relations and Globalization - A pause in the tariff war has led to a new consensus on globalization. The U.S. has canceled 91% of additional tariffs on China, with a reciprocal response from China. This reduction is expected to alleviate foreign trade pressures in the short term, but the long-term strategy will shift towards regional and global layouts [8] Brand Building and Global Competition - Chinese brands are transitioning from "brand recognition" to "brand building," with a focus on global competition. Companies like Anker and Xiaomi are leveraging platforms like Amazon for efficient market penetration, while AI technology is enhancing advertising returns [9] Autonomous Driving and Technology Export - In the global tech race, China and the U.S. are leading in autonomous driving. Companies like Waymo and RoboTaxi are expanding globally, with RoboTaxi leveraging its experience in complex Chinese road conditions to enhance competitiveness [11] Home Appliance Industry Trends - The Chinese home appliance market is shifting towards high-end products, with major players like Haier and TCL focusing on brand strategies to enhance overseas performance. The industry faces challenges from homogenization, but smart, high-end, and branded products are seen as key drivers for future globalization [12] Smart Cleaning Robots Market - The global market for smart cleaning robots is expected to reach $21.01 billion by 2030, growing at an annual rate of 23.7%. Chinese manufacturers are strong in cost control but need to improve in multi-modal sensing and cloud AI technologies [13] Tea Beverage Market Expansion - Chinese tea brands are rapidly expanding overseas, with the global ready-to-drink beverage market projected to exceed $1.1 trillion by 2028. Companies like Mixue Ice Cream and Nayuki are adopting different strategies to capture market share [14] Automotive Industry Developments - Changan Automobile aims to accelerate its overseas expansion, with a target of 3 million vehicle sales by 2025, including 1 million in new energy vehicles [16] Internationalization of Chinese Baijiu - Moutai is transitioning from product export to brand and cultural internationalization, with overseas revenue expected to reach 5.189 billion yuan in 2024, reflecting a growth of 19.27% [21] E-commerce Trends in Europe - TikTok Shop is rapidly expanding into the European market, with a projected e-commerce market size of $3.96 trillion by 2024. However, sellers must navigate challenges related to product quality and tax compliance [22] AI Industry Growth - Kunlun Wanwei has emerged as a leader in AI exports, achieving a revenue of 1.76 billion yuan in Q1 2025, with 94% of its income coming from overseas. The company is focusing on building an ecosystem around AI applications [25]

Summary of Key Points from Conference Call Records Industry or Company Involved - **康达新材 (Kangda New Materials)**: Focus on drone countermeasure systems and advanced radar technology - **乐惠国际 (Lehui International)**: Engaged in the craft beer industry with a focus on brewing equipment - **中毅达 (Zhongyida)**: Involved in market trends and stock performance - **新消费 (New Consumption)**: Refers to emerging consumer trends, particularly in sectors like health and beauty Core Points and Arguments - **Market Recovery and Rotation**: The market is experiencing a recovery phase with a lack of clear main themes, indicating a continued rotation of investment focus among sectors [1] - **Stability of New Consumption**: New consumption sectors, particularly health and beauty, are showing strong performance, with specific mention of cosmetics and medical aesthetics [1] - **Craft Beer Market Potential**: The penetration rate of craft beer in China is expected to reach 6.3% by 2025, indicating significant growth potential compared to the US rate of 13.5% [3] - **Technological Advancements in Radar**: 康达新材's subsidiary is leading in the development of drone detection and countermeasure systems, particularly with advanced radar technology capable of detecting low and slow targets [4] - **Stock Performance of Key Companies**: 康达新材, 乐惠国际, and 中毅达 have shown significant stock price increases of 9.98%, 10.00%, and 9.88% respectively, indicating positive market sentiment towards these companies [5] Other Important but Possibly Overlooked Content - **Investment Trends**: The report highlights a shift in investment focus towards high-recognition stocks within the new consumption sector, suggesting that short-term capital will likely concentrate on these areas [1] - **Emerging Technologies**: The mention of carbon fiber usage in drones and the establishment of a joint venture for advanced materials production indicates a strategic move towards innovation and domestic production capabilities [4] - **Market Sentiment**: The overall sentiment in the market is one of cautious optimism, with expectations of continued rotation among sectors rather than a broad-based rally [1][3]

2025 年 06 月 04 日 市场情绪：64 分（较热） 最近一年大盘走势 资料来源：Wind，华鑫证券研究 -15 -10 -5 0 5 10 15 20 (%) 沪深300 双融日报 --鑫融讯 分析师：万蓉 S1050511020001 wanrong@cfsc.com.cn 相关研究 ▌ 华鑫市场情绪温度指标：（较热） 华鑫市场情绪温度指标显示，昨日市场情绪综合评分为 64 分，市场情绪处于"较热"。历史市场情绪趋势变化可参 考图表 1。 ▌ 热点主题追踪 今日热点主题：人工智能、低碳、无人驾驶 1、人工智能主题：OpenAI 日前宣布以 65 亿美元全股收 购由苹果前首席设计师 JonyIve 创立的 AI 硬件初创公司 io，并计划推出一款革命性的 AI"伴侣"设备，目标在 2026 年底前发货 1 亿台。这款设备旨在成为一款环境感知智能 体，可放置在口袋或书桌上，通过多模态 AI 无缝融入用户日 常生活。相关标的：荣信文化(301231)、汤姆猫(300459) 2、低碳主题：近日召开的国常会审议通过《制造业绿色 低碳发展行动方案（2025—2027 年）》。会议指出，推进制 造业绿色低碳发 ...

Summary of Key Points from the Conference Call Industry or Company Involved - The document discusses various sectors including EDA (Electronic Design Automation), stablecoins, automotive industry, robotics, and innovative pharmaceuticals. Core Points and Arguments 1. **EDA Supply Chain Disruption**: U.S. EDA manufacturers have been ordered to stop supplying to China, leading to a complete supply halt from three major chip design EDA companies. This affects companies such as Guangli Micro, Yibo Technology, Taiji Co., Huada Jiutian, and others [1] 2. **Stablecoins as Key to Application**: A roundtable on decoding crypto payments is set to discuss stablecoins, which are crucial for the practical application of cryptocurrency. The cross-border interbank payment clearing company CIPS has signed a memorandum of cooperation with the Central Bank of the UAE, involving companies like Yuyin Co., Huibo Yuntong, and others [1] 3. **Automotive Industry Growth**: The "new automotive" sector saw a significant increase in delivery volumes in May. Notable developments include Hongmeng Zhixing reaching new highs and Xiaomi's YU7 set for mass production in July. Tesla plans to launch Robotaxi in Austin on June 12 [1] 4. **Advancements in Robotics**: The Zhiyuan Expedition A2 has become the first humanoid robot to receive certifications from China, the U.S., and Europe. Honor has confirmed its entry into the robotics business [1] 5. **Innovative Pharmaceuticals Recognition**: At the upcoming ASCO annual meeting in Chicago, over 70 research results from Chinese pharmaceutical companies will be showcased, highlighting the global impact of domestic innovative drugs [1] Other Important but Possibly Overlooked Content - The document emphasizes the importance of stablecoins in the context of cross-border payments and the strategic partnerships being formed to enhance this sector [1] - The automotive sector's growth is linked to broader transportation policy developments, indicating potential regulatory support for innovation in this area [1] - The recognition of Chinese pharmaceutical companies at an international conference underscores the increasing global competitiveness of domestic innovation in healthcare [1]

5月份，格力电器和江苏银行均获得6家券商推荐，当月股价分别上涨4.11%、8.07%；海大集团获得5家 券商推荐，当月股价上涨9.25%。 券商金股组合指数的表现也能反映出券商研究所的业务实力。5月份，有26只券商金股组合指数实现上 涨，其中14只券商金股组合指数当月涨超3%。"国元证券金股指数"当月上涨11.91%，涨幅居首；"国盛 证券金股指数""华创证券金股指数""浙商证券金股指数"当月分别上涨5.29%、4.8%、4.63%。 本报记者 周尚伃 见习记者 于宏 近日，券商密集发布6月份金股名单。截至6月2日，券商已合计推荐132只金股，其中，亚钾国际被推荐 次数暂居第一，已获得4家券商推荐。从行业分布来看，上述132只金股中，来自工业和信息技术行业 （Wind一级行业，下同）的金股数量较多。展望6月份市场行情，多位券商分析师预计，科技、消费板 块仍为投资主线。 5月份最强金股涨超45% 回顾5月份，券商5月份合计推荐的272只金股中，132只金股当月股价实现上涨，占比48.53%。32只金 股当月股价涨幅超10%，占比11.76%。 具体来看，5月份涨幅最高的金股为天风证券推荐的潮宏基，当月涨幅为45 ...

Investment Rating - The report maintains an "Accumulate" rating for the industry [1] Core Insights - The industry of unmanned logistics vehicles is entering a rapid growth phase, supported by policy initiatives and cost optimization, with commercial viability being validated [8][12] - The market for unmanned logistics vehicles is projected to reach a scale of 6000 units in application by 2024, with significant growth expected in 2025 [11] - The annual freight scale of road logistics in China is estimated at 7 trillion yuan, indicating a substantial market opportunity for automated driving service subscriptions [17] Summary by Sections 1. Industry Entering 1-10 Phase: Policy Support and Cost Optimization - Road rights are being accelerated for opening, leading to a significant increase in operational scale, with over 100 cities granted public road rights for unmanned logistics vehicles [9][11] - Cost optimization is being achieved through improved management efficiency and pricing strategies, with examples showing a reduction in operational costs by up to 40% [13][12] 2. Trillion Yuan Market Space, Leading Manufacturers Strengthening Channel Operations and Multi-Scenario Development - The market for automated driving service subscriptions could reach nearly 500 billion yuan annually, with major players actively expanding both domestically and internationally [17][18] - Leading companies are diversifying their applications beyond traditional logistics to include security, sanitation, and retail delivery, with significant order growth reported [18][19] 3. Investment Recommendations and Related Targets - The report suggests focusing on companies with operational capabilities or relevant scenarios, as well as upstream core components and algorithm platform companies [19][20] - Recommended companies include logistics operators such as Kaile Co., China Post Technology, and Tongxingbao, as well as component and algorithm platform firms like Jingwei Hengrun and Wanjitech [20]

近日，天汇盛(北京)科技有限公司、北京蓝翼动力科技有限公司分别与三羊马（001317）数园科技(重 庆)有限公司签署无人快递车采购意向合同，拟分别向三羊马数园科技采购30台、20台无人驾驶快递配 送车。(三羊马官微) ...

计算机 2025 年 06 月 01 日 投资评级：看好（维持） 周观点：继续看好 AI 板块机会 （1）DeepSeek-R1 更新，模型思维深度和推理能力显著提升 相关研究报告 《周观点：AI 有望持续精彩 —行业周 报》-2025.5.25 《周观点：从巨头财报看 AI 板块机会 —行业周报》-2025.5.18 《持续布局 AI 核心产业方向—行业周 报》-2025.5.11 周观点：继续看好 AI 板块机会 ——行业周报 | 陈宝健（分析师） | 刘逍遥（分析师） | | --- | --- | | chenbaojian@kysec.cn | liuxiaoyao@kysec.cn | | 证书编号：S0790520080001 | 证书编号：S0790520090001 | 市场回顾：本周（2025.5.26-2025.5.30），沪深 300 指数下跌 1.08%，计算机 指数上涨 1.77%。 行业走势图 数据来源：聚源 -38% -19% 0% 19% 38% 58% 77% 2024-05 2024-09 2025-01 计算机 沪深300 无人驾驶已成为产业趋势，一方面，5 月 27 ...