12月10日，A股三大指走势分化，截至收盘，上证指数下跌0.23%报3900.50点，深成指上涨0.29%报13316.42点，创业板指 微跌0.02%报3209.00点。从板块行情上来看，今日表现较好的是免税概念、光通信模块和社区团购，而新型工业化、 ChatGPT概念和跨境支付等板块下跌。 | 基金经理 | | 基金代码 | 公告目期 | 变动日期 | 任职状态 | 变动原因说明 | | --- | --- | --- | --- | --- | --- | --- | | 杨力元 | 中金恒宁债券A | 025272 | 2025/12/10 | 2025/12/10 | 在职 | 开始任职 | | | 中金恒宁债券C | 025273 | 2025/12/10 | 2025/12/10 | 在职 | 开始任职 | | | 蒸元中证A100指数A | 023630 | 2025/12/10 | 2025/12/10 | 在脂 | 开始任职 | | | 益元中证A100指数C | 023631 | 2025/12/10 | 2025/12/10 | 在即 | 开始任职 | | | 蒸元上证科创板综合价格指 ...

今日早盘，A股震荡调整，上证指数低开低走失守3900点，北证50同样击穿1400点，盘中一度创近半年 来新低，深证成指、创业板指、科创50等也均有所下跌，市场成交呈萎缩趋势。 盘面上，一般零售、影视院线、航天装备、海南自贸等板块逆市活跃，消费电子、光伏设备、培育钻 石、银行等板块跌幅居前。 零售概念逆市走强 会议还要求，要准确把握守正与创新、"变"与"不变"、盘活存量与做优增量、"线上"与"线下"、有为政 府与有效市场之间的关系，统筹推进零售业创新发展；要学习推广胖东来等企业的好经验好做法，加快 推动零售业转型提升；要更加注重下沉市场，发展新业态新模式新场景，激发消费潜力。 会议上公布的数据显示，2025年前三季度，限额以上零售业单位中便利店、超市、百货店、专业店、品 牌专卖店零售额，同比分别增长6.4%、4.4%、0.9%、4.8%、1.5%。 旺季来临影视院线走高 影视院线概念股近来频频走强，今日盘中再度放量大涨逾3%，连续第5日上涨。博纳影业开盘仅约10分 钟就强势涨停，连续第3日涨停，股价创2年半来新高，光线传媒、中国电影、北京文化等涨幅居前。 近日上影的《疯狂动物城2》刷新了中国影史进口动画片票房冠 ...

Market Overview - A-shares experienced fluctuations with the Shanghai Composite Index falling below 3900 points and the North Stock 50 Index dropping below 1400 points, marking a near six-month low [1] - The Shenzhen Component Index, ChiNext Index, and STAR Market 50 also saw declines, with market trading volume shrinking [1] Retail Sector Performance - Retail concept stocks showed strong performance, with the general retail sector leading the gains, rising over 5% to reach an 11-month high [2] - Notable stocks included Dongbai Group and Yonghui Supermarket, both hitting the daily limit for consecutive days [2] - Other sectors such as new retail, duty-free concepts, and professional chains also saw gains, with multiple stocks reaching their daily limit [4] Retail Industry Insights - The "National Retail Industry Innovation Development Conference" is scheduled for December 9-10 in Beijing, emphasizing retail as a key area for fostering domestic demand and high-quality development [4] - The conference highlighted the importance of balancing innovation with traditional practices and promoting new business models to stimulate consumer potential [4] - Data released indicated that retail sales for convenience stores, supermarkets, department stores, specialty stores, and brand stores are expected to grow by 6.4%, 4.4%, 0.9%, 4.8%, and 1.5% respectively by Q3 2025 [4] Film and Entertainment Sector - The film industry, particularly cinema chains, has seen a surge, with stocks rising over 3% for five consecutive days [5] - The release of "Zootopia 2" has set multiple box office records, boosting expectations for the upcoming holiday movie season [7] - Despite positive box office growth, net profits for film companies may vary based on the performance of individual films, with a focus on key release periods [7]

Market Overview - A-shares experienced fluctuations with the Shanghai Composite Index falling below 3900 points and the North Stock Exchange 50 dropping below 1400 points, marking a near six-month low [1][8] - The market showed a shrinking trend in trading volume, with declines in the Shenzhen Component Index, ChiNext Index, and STAR Market 50 [1][8] Retail Sector Performance - Retail concept stocks surged in the morning, with the general retail sector leading the gains, rising over 5% to reach an 11-month high [2][9] - Notable performers included Dongbai Group and Yonghui Supermarket, both hitting the daily limit for consecutive days [2][9] - Other sectors such as new retail, duty-free concepts, and professional chains also saw significant gains, with multiple stocks reaching their daily limits [4][11] Retail Industry Insights - The "National Retail Industry Innovation Development Conference" is scheduled for December 9-10 in Beijing, emphasizing the retail sector's role in enhancing domestic demand and promoting high-quality development [4][11] - The conference highlighted the need for innovation in the retail industry, focusing on both online and offline strategies, and the importance of tapping into lower-tier markets [4][11] - Data presented indicated projected growth in retail sales for various store types by 2025, with convenience stores expected to grow by 6.4% and supermarkets by 4.4% [4][11] Film and Entertainment Sector - The film industry saw a boost with cinema stocks rising over 3%, marking the fifth consecutive day of increases [5][12] - The success of "Zootopia 2" set multiple box office records, enhancing expectations for the upcoming holiday movie season [7][13] - Despite positive overall box office growth, individual company profits varied based on the performance of specific films, with a focus on key release periods [14]

盘面上看，银行、石油、地产、化工等板块走低，零售板块再度活跃，海南自贸、免税概念、黄金概念 等活跃。 东莞证券表示，随着经济韧性增强、企业盈利改善，基本面叠加流动性的双轮驱动或成为市场主旋律。 在此背景下，低估值安全边际、高股息防御属性、业绩成长确定性强以及较强科技特征的行业板块或更 受市场青睐，关注即将出炉的美联储议息会议决议内容。 10日早盘，两市主要股指盘中震荡下探，沪指失守3900点，创业板指、科创50指数等跌超1%，全A超 3800股飘绿。 截至午间收盘，沪指跌0.72%报3881.51点，深证成指跌0.56%，创业板指跌1.23%，科创50指数跌 1.26%，沪深北三市合计成交11455亿元。 ...

炒股的朋友可以免费领取福利，具体看这里。 要闻精选与涉及板块 1. 中央政治局会议：明年经济工作要坚持稳中求进、提质增效，更好统筹国内经济工作和国际经贸斗 争，更好统筹发展和安全；继续实施更加积极的财政政策和适度宽松的货币政策，发挥存量政策和增量 政策集成效应。 【涉及板块】整个市场流动性无忧，这是市场走牛的必备前提之一 2. 央视新闻：进入冬季，多地中小学生相继迎来"雪假"出游热度高涨。11月29日至12月7日"雪假"期 间，从乌鲁木齐和阿勒泰出发的机票预订量显著增长。从乌鲁木齐出发的机票预订量环比11月15日至23 日增长45%，而从阿勒泰出发的机票预订量环比增长48%，尤其飞往南方温暖城市的航线更受欢迎。 【涉及板块】AI应用概念 5. 税务总局：前11个月，办理离境退税的境外旅客数量同比增长285%，退税商品销售额和退税额同比 增长98.8%。截至11月底，全国离境退税商店已达12252家，提供"即买即退"服务的商店超7000家。 【涉及板块】免税概念 6. 证券时报：临近年末，跨年行情预期升温。但公募在跨年布局上则各有各的"心思"，浮盈明显的基金 想保存收益平稳收尾，前期回报不明显的基金则想最后再冲 ...

资金流向方面，主力资金净流入3097.02万元，特大单买入1.23亿元，占比23.53%，卖出6312.38万元， 占比12.08%；大单买入6144.30万元，占比11.76%，卖出9028.55万元，占比17.28%。 厦门港务今年以来股价涨105.96%，近5个交易日涨32.72%，近20日涨33.33%，近60日涨66.80%。 来源：新浪证券-红岸工作室 12月9日，厦门港务盘中涨停，截至09:35，报14.52元/股，成交5.22亿元，换手率4.92%，总市值107.71 亿元。 今年以来厦门港务已经1次登上龙虎榜，最近一次登上龙虎榜为11月6日，当日龙虎榜净买入-6111.75万 元；买入总计6626.57万元 ，占总成交额比6.68%；卖出总计1.27亿元 ，占总成交额比12.85%。 资料显示，厦门港务发展股份有限公司位于福建省厦门市湖里区东港北路31号港务大厦20楼,21楼，成 立日期1999年4月21日，上市日期1999年4月29日，公司主营业务涉及为散杂货码头装卸及相关综合物流 服务、商品贸易、建材销售等。主营业务收入构成为：综合供应链业务89.43%，港口配套服务5.65%， 码头装 ...

业绩方面，2025年1月-9月，海南发展实现营业收入24.99亿元，同比减少10.12%；归属净利润-3.65亿 元，同比减少56.65%。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 12月8日，海南发展收盘首板涨停，沪深京交易所数据显示，截至当日收盘，海南发展报15.33元/股， 成交额14.28亿元，总市值129.53亿元，封板资金5546.32万元。 异动原因 该股票涨跌停原因可能涉及：公司实际控制人为海南省国资委，属国企；涉及海南自贸区、幕墙工程、 BIPV概念；控股股东及其一致行动人完成增持计划，合计增持金额约1亿元；控股股东承诺两年内注入 免税相关资产。 ...

Core Viewpoint - Hainan Strait Shipping Co., Ltd. has experienced significant stock price fluctuations, with a year-to-date increase of 96.31%, but a recent decline of 17.01% over the past 20 days [1][2]. Group 1: Stock Performance - On December 3, the stock price fell by 2.14% to 12.78 CNY per share, with a trading volume of 5.03 billion CNY and a turnover rate of 1.73%, resulting in a total market capitalization of 285.58 billion CNY [1]. - The stock has seen a net outflow of 26.90 million CNY from main funds, with large orders showing a buy of 119 million CNY (23.68%) and a sell of 124 million CNY (24.71%) [1]. - The stock has appeared on the daily trading list five times this year, with the most recent occurrence on November 6, where it recorded a net buy of -55.32 million CNY [1]. Group 2: Company Overview - Hainan Strait Shipping Co., Ltd. was established on December 6, 2002, and listed on December 16, 2009, focusing on shipping and ferry port services [2]. - The company's revenue composition includes 72.21% from the Hai'an route, 10.48% from the Yan-Da route, 6.17% from the Xisha route, 5.40% from port services, and 3.72% from other routes [2]. - As of November 20, the number of shareholders decreased by 7.48% to 99,000, while the average circulating shares per person increased by 8.08% to 22,570 shares [2]. Group 3: Financial Performance - For the period from January to September 2025, the company achieved a revenue of 3.923 billion CNY, reflecting a year-on-year growth of 21.84%, while the net profit attributable to shareholders decreased by 24.99% to 190 million CNY [2]. - The company has distributed a total of 1.740 billion CNY in dividends since its A-share listing, with 448 million CNY distributed over the past three years [3]. Group 4: Shareholder Information - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder with 17.6967 million shares, an increase of 1.7003 million shares from the previous period [3]. - The Southern CSI 1000 ETF and Huaxia CSI 1000 ETF are also among the top shareholders, with the former holding 6.1152 million shares (a decrease of 68,500 shares) and the latter holding 3.6344 million shares as a new shareholder [3].

Investment Rating - The report maintains an "Outperform" rating for the social services industry, indicating that the industry index is expected to perform better than the benchmark index in the next 6-12 months [1][47]. Core Insights - The social services sector experienced a decline of 1.13% in the last two trading weeks, ranking 8th among 31 industries in the Shenwan classification. Despite this, the sector outperformed the CSI 300 index by 1.06 percentage points [1][12]. - The winter season typically sees a slowdown in cultural and tourism activities, but interest in winter snow tourism is rising, particularly in northern regions [1][4]. - The upcoming full closure of Hainan Island on December 18 is expected to positively impact the local tourism industry, with preparations already in place for this transition [1][4]. Summary by Sections Market Review & Industry Dynamics - The social services sector's performance was relatively better compared to the overall market, with the CSI 300 index down by 2.19% and the Shanghai Composite Index down by 2.55% during the same period [1][12]. - Among the sub-sectors, education saw a rise of 3.67%, while tourism and retail sectors faced declines of 4.03% and 10.48%, respectively [1][16]. Investment Recommendations - The report suggests focusing on companies with strong growth potential in the travel and related industries, including Tongcheng Travel, Huangshan Tourism, and Lijiang Co., among others. It also highlights hotel brands like Junting Hotel and Jinjiang Hotels that are expected to benefit from the recovery in business travel [1][4]. - The recovery of cross-border travel is anticipated to boost airport duty-free sales, with recommendations to monitor companies like China Duty Free Group and Wangfujing [1][4]. Industry Company News - Notable developments include the launch of the 2025 China Duty Free Year-End Festival, which aims to enhance sales across various duty-free outlets [1][29]. - Junting Hotel is undergoing a potential change in control, which may affect its market position [1][29]. Travel Data Tracking - Domestic travel is showing signs of recovery post-pandemic, with significant increases in passenger flow. The report notes that in the first ten months of 2025, cross-regional passenger flow reached 56.88 billion, a year-on-year increase of 3.6% [1][34].