2025.06. 11 本文字数：1631，阅读时长大约3分钟 作者 | 第一财经 6月11日午盘，上证指数报3403.0点，涨0.54%，深成指报10252.69点，涨0.89%，创业板指报 2063.49点，涨1.29%。 Wind数据显示，个股涨多跌少，全市场超3600股上涨。 稀土永磁概念股爆发，固态电池、汽车零部件、金融科技题材活跃，券商股涨幅居前；创新药、离境退 税、算力、可控核聚变概念股调整。 | | | A股重要指数 | | | --- | --- | --- | --- | | 名称 | 最新 | 涨跌 | 涨幅 | | 上证指数 | 3403.00 | +18.18 | +0.54% | | 深证成指 | 10252.69 | +90.51 | +0.89% | | 北证50 | 1426.22 | -1.71 | -0.12% | | 创业板指 | 2063.49 | +26.22 | +1.29% | | 日期: 2025-06-11 | | 跌 1585 | 涨 3604 | | 跌停 1 | 涨停 55 | | --- | --- | --- | --- | --- | --- | ...

6月11日周三，A股早盘走高，三大股指集体上涨，创业板涨超1%，稀土永磁、汽车等板块涨幅居前。 港股恒指、恒科指双双上涨，汽车股拉升。债市方面，国债期货多数上涨。核心市场走势： | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | | 3406.15 | 21.33 | 0.63% | | 399001 | 深证成指 | | 10285.86 | 123.68 | 1.22% | | 399006 | 创业板指 | | 2073.64 | 36.37 | 1.79% | | 000300 | 沪深300 | | 3904.47 | 39.00 | 1.01% | | 000016 | 下证50 | | 2696.28 | 19.88 | 0.74% | | 000680 | 科创综指 | | 1196.43 | 6.74 | 0.57% | | 000688 | 科创20 | | 988.54 | 5.63 | 0.57% | | 899050 | 北证50 | | 1433.37 | ...

Group 1 - The ChiNext Index increased by over 1%, indicating a strong market performance [1] - The Shanghai Composite Index rose by 0.31%, while the Shenzhen Component Index increased by 0.65% [1] - Nearly 3,200 stocks in the Shanghai, Shenzhen, and Beijing markets experienced gains [1] Group 2 - Sectors such as rare earth permanent magnets, solid-state batteries, and the automotive supply chain showed significant growth [1]

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Market Overview - The A-share market saw most indices decline today, with the Shanghai Composite Index down by 0.44% closing at 3384.82 points, and the Shenzhen Component Index down by 0.86% closing at 10162.18 points [1] - The ChiNext Index fell by 1.17% to close at 2037.27 points, while the Sci-Tech 50 Index decreased by 1.47% to 982.90 points [1] - Overall, 4034 stocks declined while 1260 stocks rose, with a total trading volume of 14154 billion yuan, an increase of 1289.67 billion yuan compared to the previous trading day [1] Industry Performance - Among the Shenwan first-level industries, sectors such as beauty care, banking, pharmaceutical biology, transportation, media, and non-ferrous metals led the gains, while sectors like defense, computer, electronics, communication, non-bank financials, and construction materials experienced declines [1] Sector Highlights - The top-performing concept sectors today included tax refunds for outbound tourists, rare earth permanent magnets, medical beauty, pet economy, and biobreeding, among others [1]

昨日A股 6月9日，市场全天震荡走高，创业板指领涨。截至收盘，沪指涨0.43%，深成指涨0.65%，创业板指涨 1.07%。沪深两市全天成交额1.29万亿，较上个交易日放量1344亿。 盘面上，市场热点快速轮动，个股涨多跌少，全市场超4100只个股上涨。从板块来看，创新药概念股再 度大涨，足球概念股反复活跃，核电股展开反弹。板块方面，创新药、足球概念、稀土永磁、可控核聚 变等板块涨幅居前，贵金属、白酒等少数板块下跌。 | 名称 | 最新点位 | 涨跌幅 | | --- | --- | --- | | 上证指数 | 3399.77 | +14.41(0.43%) | | 深证指数 | 10250.14 | +66.44(0.65%) | | 创业板指 | 2061.29 | +21.85 (1.07%) | | | 日期:6月9日 制图:21投资通 | | 隔夜外盘 纽约股市三大股指6月9日涨跌不一。截至当天收盘，道琼斯工业平均指数比前一交易日下跌1.11点，收 于42761.76点，跌幅接近于零；标准普尔500种股票指数上涨5.52点，收于6005.88点，涨幅为0.09%；纳 斯达克综合指数上涨61.28点 ...

Equity Market - On June 9, the market experienced a steady rise throughout the day, with the ChiNext Index leading the gains. The total trading volume in the Shanghai and Shenzhen markets reached 1.29 trillion yuan, an increase of 134.4 billion yuan compared to the previous trading day. Over 4,100 stocks rose in the market, with sectors such as innovative pharmaceuticals, football concepts, rare earth permanent magnets, and controllable nuclear fusion showing significant gains, while a few sectors like precious metals saw declines. By the end of the trading day, the Shanghai Composite Index rose by 0.43%, the Shenzhen Component Index increased by 0.65%, and the ChiNext Index climbed by 1.07% [3]. Retail Industry - The Ministry of Commerce announced the first batch of 38 pilot cities for national retail innovation and enhancement, including major cities like Beijing, Shanghai, Guangzhou, and Shenzhen, with Nanjing and Suzhou also making the list. From June 6 to 9, the Jiangsu Provincial event for foreign trade products and the Jiangsu Province "Three Advances and Three Promotions" initiative, along with the China (Jiangsu) Time-honored Brands Expo, attracted nearly 300 foreign trade enterprises and over 280 time-honored brands from within and outside the province to participate [4]. Agriculture - The Jiangsu Agricultural Technology Promotion Station reported that on June 7, the average yield of wheat in a typical high-yield plot in Shengli Village, Lingcheng Town, reached 806.2 kilograms per mu. This marks the first time that the yield of wheat following rice in Jiangsu has surpassed 800 kilograms per mu, setting a new provincial record for this crop type [4]. Trade and Economic Data - In the first five months of the year, China's total goods trade value reached 17.94 trillion yuan, reflecting a year-on-year increase of 2.5%. In May alone, the trade value was 3.81 trillion yuan, up by 2.7%. Exports in May amounted to 2.28 trillion yuan, showing a growth of 6.3%. The consumer price index (CPI) for May decreased by 0.1% year-on-year, while the producer price index (PPI) fell by 3.3% year-on-year [6]. - The United States remains China's third-largest trading partner, with a total trade value of 1.72 trillion yuan, down by 8.1%. Exports to the U.S. were 1.27 trillion yuan, a decrease of 8.7%, while imports from the U.S. were 447.51 billion yuan, down by 6.3% [6]. Automotive Industry - Honda China reported that its automobile sales in May totaled 55,108 units, representing a year-on-year decline of 16.8% [6]. Technology and AI - Canalys forecasts that the penetration rate of AI smartphones will reach 34% by 2025, driven by the optimization of edge models and improvements in chip computing power [6]. Global Economic Indicators - Citigroup anticipates that the Federal Reserve will lower interest rates by a total of 50 basis points in January and March 2026, with an expected reduction of 75 basis points throughout 2023 [6]. - In Japan, Prime Minister Kishida announced an investigation into the sudden surge in rice prices, which saw an increase of 98.4% year-on-year in April, marking the largest rise since 1971 [6]. Autonomous Driving - Waymo, a subsidiary of Google, announced the suspension of its services in downtown Los Angeles following incidents where several of its vehicles caught fire during protests [6].

Group 1 - The central government issued opinions to enhance and improve people's livelihoods, focusing on addressing urgent public concerns and promoting equitable, balanced, and accessible social services [2][3] - Key measures include removing household registration restrictions for social insurance participation, increasing minimum wage standards, and expanding the supply of affordable housing [2][3] - The National Bureau of Statistics reported a 0.4% month-on-month decline in the Producer Price Index (PPI) for May, with a year-on-year decrease of 3.3% [2] Group 2 - China's total goods trade value reached 17.94 trillion yuan in the first five months, a year-on-year increase of 2.5%, with exports at 10.67 trillion yuan (up 7.2%) and imports at 7.27 trillion yuan (down 3.8%) [3] - The Ministry of Industry and Information Technology and the Ministry of Civil Affairs announced a pilot program for intelligent elderly care service robots, aiming to enhance product design and safety for elderly users [3] - Beijing's commerce department launched a plan to expand fashion consumption, promoting cross-industry collaborations and cultural events to enhance the city's fashion image [3] Group 3 - The Shanghai Municipal Market Supervision Administration released an action plan to improve the business environment, focusing on optimizing market access for foreign enterprises [4] - The Shenzhen Stock Exchange announced adjustments to the Hong Kong Stock Connect eligible securities list, effective June 9, 2025 [4] Group 4 - The upcoming American Diabetes Association's annual meeting will showcase advancements in GLP-1 drugs, which are expected to lead the obesity treatment market [7] - The GLP-1 drug market is rapidly expanding into new therapeutic areas, indicating significant growth potential [7] Group 5 - The rare earth permanent magnet sector has seen a resurgence, with companies like Zhongke Magnetic and Jiuling Technology leading the gains [8] - The Ministry of Commerce emphasized compliance in rare earth export controls, which may boost demand for rare earth materials [8] Group 6 - Public funds have significantly increased their purchases of equity funds, with a total of 2.268 billion yuan in self-purchases reported as of June 9 [15] - Multiple Hong Kong innovative drug ETFs saw record trading volumes, indicating strong interest in the sector [16] - The Guangfa Hong Kong Innovative Drug ETF reached a trading volume of 6.996 billion yuan, marking a historical high [16]

Group 1: GLP-1 Drugs and Market Dynamics - The success of Wegovy and Zepbound has validated the commercial model and medical value of GLP-1 class drugs, leading to a shift towards next-generation drugs targeting multiple pathways (GLP-1+GIP, GLP-1+Glucagon, and combinations including Amylin/Calcitonin) [1] - Eli Lilly and Novo Nordisk have initiated a "triple agonist battle," with platform-based research and development becoming the mainstream direction in the industry, reflecting a competition for long-term metabolic reconstruction capabilities [1] - Significant clinical progress has been made with oral versions of these drugs, such as Novo Nordisk's oral Wegovy, which has been accepted by the FDA, and Eli Lilly's orforglipron, which is expected to file for approval within the year [1] - Companies like Roche, Viking, and Structure are rapidly entering this field, and multiple non-injection blockbuster products may emerge in the coming years, reshaping the market structure [1] Group 2: Northern Rare Earths - Rare earth prices have surged, with Dysprosium and Terbium reaching $850/kg and $3000/kg respectively, directly enhancing the company's profitability and cash flow, turning operating cash flow from negative to positive at 410 million yuan [2] - In the context of rapidly growing demand in global new energy vehicles, wind power, and humanoid robots, Northern Rare Earths is expected to become a core beneficiary amid structural shortages in the global rare earth market [2] - The company has accelerated its transformation from a "resource exporter" to a "material solutions provider," integrating downstream magnetic material businesses into its system, thereby enhancing the stability and added value of its profit structure [2] - Northern Rare Earths is advancing a green smelting project with a total investment of 7.8 billion yuan, which, once fully operational, will increase rare earth separation capacity to over 100,000 tons, further solidifying its dominant position in the global rare earth industry chain [2] - Long-term, this research and development capability will support continuous breakthroughs in high-end magnetic materials and rare earth permanent magnets, likely gaining stronger policy support and industry influence [2] Group 3: Robotic Vacuum Cleaner Industry - DJI's entry into the robotic vacuum cleaner market, leveraging its four years of research and development, is expected to capitalize on its advantages in positioning navigation, image recognition, and edge AI computing to quickly penetrate the high-end market [4] - Based on its success in the consumer drone market, DJI is likely to challenge current high-end market leaders (such as Roborock and Ecovacs) through technological innovation and product experience, altering the existing homogeneous competition landscape [4] - According to IDC data, global robotic vacuum cleaner shipments are projected to grow by 11.2% year-on-year in 2024, with sales revenue expected to increase by nearly 20%, indicating a moderate expansion phase for the industry, with a trend towards higher pricing [4] - The technological background and brand influence of DJI will compel the industry to rethink core technological differences and user experience advantages, potentially driving a shift from "functional competition" to "scenario experience innovation" [4] - The smart pet device sector is evolving from basic functions like automatic feeding and positioning to comprehensive solutions that include health monitoring, emotional interaction, and behavioral intervention [4] - New technologies such as IoT, AI, millimeter-wave radar, and AR/VR are enabling pet devices to incorporate features like emotion recognition, remote interaction, and disease warning, shifting core competitiveness from hardware to integrated system capabilities [4] - The competitive landscape is currently characterized by "international brands dominating the high-end market and local brands maintaining the mid-range," with international brands focusing on health chips and smart wearables for professional medical scenarios, while local brands (like Cat King Smart and Pet Seeking Treasure) are creating cost-effective products around high-frequency demand scenarios [4] - Eco-friendly pet products (such as biodegradable toys and insect protein pet food) align with the sustainable preferences of the new generation of consumers, serving as an important value addition for brand building [4] Group 4: Quantum Song and the Toy Industry - Quantum Song's entry into the toy market from online adult education is based on the logic of capturing the rising consumer demand for "immediate satisfaction" and "emotional comfort" during economic downturns [5] - This shift from a functional focus to emotional value aligns with the successful paths of leading toy brands like Pop Mart, opening new high-growth opportunities for the company and enhancing market expectations for its valuation [5] - Thanks to adjustments in cost and market strategy, net profit and adjusted net profit have increased to 41.1 million yuan and 37.8 million yuan year-on-year, demonstrating strong profit control capabilities [5] - The education business maintains a high gross margin of 83.1%, and even with the subsequent consolidation of the toy business lowering the overall gross margin, the company's overall profit quality remains advantageous [5] - The company continues to collaborate with third parties like Letsvan and TOP TOY for sales while attempting to build its retail system, having launched its first pop-up store in Beijing in May, indicating a gradual alignment with Pop Mart's "IP + retail + community" closed-loop model [5]

Group 1 - Multiple banks have reduced management fees for wealth management products to attract investors, with some products having conditional fee reductions or no fees at all [1] - Canalys predicts that 2026 may be a key year for the recovery of the foldable smartphone market, with Apple's rumored foldable product potentially stimulating market demand [1] - TrendForce reports that the global wafer foundry industry revenue decreased by approximately 5.4% in Q1 2025, amounting to $36.4 billion, due to international market conditions [1] Group 2 - As of Q1 this year, China's market regulatory authorities have repaired a total of 8.7779 million pieces of corporate illegal credit information, a year-on-year increase of 34.52% [2] - In the first five months of this year, over 200,000 defective children's products were recalled in China, including 54 recalls of toys involving 96,600 items [2] - Greenme's Hong Kong listing process is progressing in an orderly manner, with the company committed to timely information disclosure [2] Group 3 - Qualcomm has agreed to acquire UK-listed company Alphawave for approximately $2.4 billion, valuing the entire issued and to-be-issued share capital at £1.83 per share [3] - Xiaomi has undergone personnel adjustments in its China region, with Vice President Wang Xiaoyan taking on additional responsibilities as General Manager of Xiaomi Home [4] - JD.com has launched its wine and travel business, actively recruiting talent and establishing a complete business line for "flights + hotels + travel" [4] Group 4 - Midea Group clarified that the recall of its U-shaped air conditioning units in North America is a voluntary recall, not a mandatory one, and the product meets market standards [4] - A rumor regarding Hoshine Silicon Industry's control transfer has been denied by a company insider, stating that the information is false [5] - Haosai announced the termination of the transfer of a 0.71% stake in Yida New Energy due to unmet conditions of the agreement [5] Group 5 - Yibin Technology received a project designation notice from a domestic new energy vehicle company, with an estimated total sales amount of approximately 256 million yuan over a five-year lifecycle [6] - Kaichun Co. announced an adjustment to its share repurchase price limit from 26.625 yuan per share to 40 yuan per share, effective from June 10, 2025 [7] - The ChiNext index rose over 1% with more than 4,100 stocks in the market increasing, indicating a strong market performance [8]