锂电产业链逆势爆发 倍轻松大跌超13% 具体来看，锂电池产业链集体走强，天际股份（002759）实现8天4板，宏源药业（301246）、永兴材料（002756）等多股涨停，华盛锂电、 恩捷股份（002812）、天花新能等涨幅居前。 锂矿概念同步走高，中矿资源（002738）、国城矿业（000688）、天齐锂业（002466）等个股股价纷纷上扬。 消息面上，12月26日，碳酸锂主力合约盘中强势突破13万元/吨关口，创2023年11月份以来新高。 一则消息引爆，碳酸锂期货突破13万关口 12月26日，A股三大指数小幅低开后震荡上行，截至午盘涨跌不一，沪指跌0.19%，深成指涨0.17%，创业板指跌0.15%。沪深两市半日成交 额1.47万亿元，全市场超3900只个股下跌。 国际贵金属全线走强，黄金站上4500美元/盎司，白银再刷新高，铂金涨超8%。 个股方面，"智能按摩设备第一股"倍轻松盘中大幅跳水，截至午盘，该股大跌超13%。消息面上， 公司及实控人被立案。 白银再刷新高 国投白银LOF复牌一字跌停 12月26日，国际贵金属市场开市全线飘红。 现货黄金站上4500美元/盎司；现货白银再刷新高，盘中最高触及75美 ...

Market Performance - The Shanghai Composite Index experienced a slight decline of 0.19% in the morning session, while the ChiNext Index fell by 0.15%. In contrast, the Shenzhen Component Index rose by 0.17% [1] - The total market turnover reached 1.4648 trillion yuan, an increase of 252.9 billion yuan compared to the previous day's trading volume [1] Sector Performance - The AI industry chain saw a collective pullback, with CPO, liquid cooling, and high-speed copper concepts leading the declines. Technology sectors such as robotics and photolithography machines also underwent a general correction [1] - Conversely, the lithium battery industry chain surged, with the non-ferrous metals sector accelerating. Companies like Luoyang Molybdenum and Zijin Mining reached historical highs [1] - The commercial aerospace concept began to show signs of differentiation [1] ETF Performance - Mini-sized Hong Kong stock ETFs continued to rise, with GF Fund's Hang Seng ETF and Cathay Fund's Hong Kong Stock Connect 50 ETF increasing by 7.11% and 2.84%, respectively. Their latest premium/discount rates are 16.96% and 12.35% [1] - The non-ferrous metals sector remained strong, with Southern Fund's Non-Ferrous Metals ETF, Huatai-PineBridge Fund's Non-Ferrous 50 ETF, and Yinhua Fund's Non-Ferrous Metals ETF all rising by 3% [1] - The photovoltaic sector also showed strength, with Harvest Fund's New Energy ETF and Bosera Fund's New Energy Theme ETF both increasing by 2% [1] - The semiconductor sector declined, with chip equipment ETFs and semiconductor equipment ETFs falling by 1.6%. The CPO sector also saw a pullback, with communication ETFs and 5G communication ETFs dropping by 1.6% and 1.43%, respectively [1]

记者丨曾静娇 见习记者 林芊蔚 编辑丨吴桂兴 视频丨王学权 见习编辑陈泽楷 12月26日， A股三大指数小幅低开后震荡上行 ，截至午盘涨跌不一，沪指跌0.19%，深成指 涨0.17%，创业板指跌0.15%。沪深两市半日成交额1.47万亿元， 全市场超3900只个股下跌。 消息面上，12月26日， 碳酸锂主力合约盘中强势突破13万元/吨关口，创2023年11月份以来新 高。 一则消息引爆，碳酸锂期货突破13万关口 | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 3952.09 | 13554.07 | 1459.17 | | -7.53 -0.19% +22.66 +0.17% +1.21 +0.08% | | | | 科创50 | 创业板指 | 万得全A | | 1342.12 | 3234.63 | 6407.02 | | -6.94 -0.51% -4.72 -0.15% -2.87 -0.04% | | | | 沪深300 | 中证500 | 中证A500 | | 4643.95 7415.97 | | 5646.41 | | +1.41 +0.03% +5.2 ...

2025.12.26 本文字数：1430，阅读时长大约2分钟 作者 |一财阿驴 11:31 A股午盘丨沪指午前小幅跳水半日跌0.19% 截至午盘，沪指跌0.19%，深成指涨0.17%，创业板指跌0.15%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | 7 | 3952.09 | -7.53 | -0.19% | | 399001 | 深证成指 | হ | 13554.07 | 22.66 | 0.17% | | 399006 | 创业板指 | W | 3234.63 | -4.72 | -0.15% | 盘面上，AI产业链集体回调，CPO、液冷、高速铜概念跌幅居前，机器人、光刻机等科技类题材普遍休 整；锂电池产业链逆势爆发，有色行业集体加速，洛阳钼业、紫金矿业双双历史新高，商业航天概念开 始分化。 | 板块名称 | 涨幅号 | 涨速 | 张停数 | | --- | --- | --- | --- | | 海南自贸区 | +3.83% | +0.48% | 4 | | 海南 | ...

2025.12. 26 本文字数：1430，阅读时长大约2分钟 作者 | 一财 阿驴 11:31 A股午盘丨沪指午前小幅跳水半日跌0.19% 截至午盘，沪指跌0.19%，深成指涨0.17%，创业板指跌0.15%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | 5 | 3952.09 | -7.53 | -0.19% | | 399001 | 深证成指 | ﺟ | 13554.07 | 22.66 | 0.17% | | 399006 | 创业板指 | 14 | 3234.63 | -4.72 | -0.15% | 盘面上，AI产业链集体回调，CPO、液冷、高速铜概念跌幅居前，机器人、光刻机等科技类题材普 遍休整；锂电池产业链逆势爆发，有色行业集体加速，洛阳钼业、紫金矿业双双历史新高，商业航天 概念开始分化。 | 板块名称 | 涨幅号 | 涨速 | 涨停数 | | --- | --- | --- | --- | | 海南自贸区 | +3.83% | +0.48% | પ | | ...

Core Viewpoint - The market shows mixed performance with the Shanghai Composite Index rising while the ChiNext Index experiences a pullback, amidst a focus on the performance of the Dividend Low Volatility ETF (512890) which leads its category in trading volume and price stability [1][6] Market Performance - On December 25, the Dividend Low Volatility ETF (512890) increased by 0.08% to a price of 1.178 yuan, with a turnover rate of 0.92% and a trading volume of 246 million yuan, making it the top performer among similar ETFs [1][6] - Over the past five trading days, the ETF has seen a net inflow of 930 million yuan, with a total of 1.72 billion yuan over the last ten days, and 5.81 billion yuan over the last sixty days, indicating strong investor interest [2][7] Institutional Insights - Shenwan Hongyuan Securities anticipates the initiation of a spring market rally in 2026, highlighting that while key sectors like AI may have limited upward potential, alternative themes such as policy-driven investments and high dividend strategies are expected to be active [4][9] - The firm notes two positive short-term factors: sustained liquidity in the spring market and a favorable policy window in the coming months, which historically supports market rebounds before the Spring Festival [4][9] - Open Source Securities emphasizes that "technology first" will be the strongest theme in the upcoming bull market, with a shift towards factor investing focusing on profit growth and return on equity (ROE) [4][9] ETF Historical Performance - The Dividend Low Volatility ETF (512890) was established in December 2018 and has shown robust historical performance, achieving a return of 135.06% as of December 24, 2025, significantly outperforming its benchmark and ranking 80th among 502 similar products [5][10] - The ETF is positioned as a stable investment tool for volatile markets, with recommendations for investors to consider regular investment strategies to mitigate risk [5][10]

过去一周，市场风格出现显著切换。偏防守的价值因子以及代表交易博弈的量价类因子（波动率、技术）表现强势。 而此前表现优异的成长因子和一致预期因子则有所回撤。这反映出在震荡环境下，资金暂时脱离了业绩驱逻辑，转而 寻求低估值防御。展望未来一周，考虑到年末资金避险情绪，我们预期价值因子的防御属性仍将受捧，同时量价类因 子有望延续活跃态势，而成长风格短期或需等待拥挤度消化后的企稳。 以上结果通过历史数据统计、建模和测算完成，在政策、市场环境发生变化时模型存在失效的风险。 过去一周，国内主要市场指数平稳，其中上证 50、沪深 300、中证 500 和中证 1000 涨跌幅分别为 0.61%、-0.15%、 0.01%和-0.56%。 微盘股指标监控：综合来看，当前轮动模型由于微盘股滚动 20 天斜率收负，茅指数为正斜率，当前轮动模型发出切 换至茅指数信号，中期配置茅指数的预期能有更高相对收益。从中期微盘股择时角度来看，目前风控信号还没触发， 但能看到波动率拥挤率正在快速上行，风险有明显聚集。对于持有微盘板块投资者建议做好风险控制，以及密切跟踪 相对净值、动量及中期风险指标的动态。 过去一周，政策端进入了高频落地的执行期， ...

根据wind数据，中证A500ETF（159338）盘中净流入15.03亿份，资金抢筹更均衡的大宽基。 国金证券表示，中美股市联动性增强，A股与美股波动区间同步收窄，宏观经济环境类似"金发姑娘"阶 段，即"向上弹性不足、向下风险收敛"。对于AI产业链，报告认为投资出现两大特征：一是"泛AI"资产 表现优于AI核心资产；二是投资者对AI公司的高资本开支缺乏营收增长的矛盾容忍度降低，或可关注 实物需求拉动与内需政策红利。 相较沪深300而言，中证A500强调行业均衡与细分龙头，其风格更分散、成长性暴露更高，能在产业结 构升级周期提供更优的Beta底盘。所以，其指数历史走势更优。截至2025年12月23日，中证A500指数 基日以来涨幅高达459.24%，而同期沪深300指数为360.24%，超额为99.0%。2025年至今，中证A500上 涨21.34%，同期沪深300指数涨幅为17.43%，超额为3.91%。 从客户数量来看，根据2025年中报，国泰中证A500ETF总户数位列同类首位，是第二名的三倍多，更多 人选择中证A500ETF（159338），感兴趣的投资者或可关注中证A500ETF（159338）。 ...

Market Overview - A-shares saw a slight increase with major indices closing higher, total trading volume reached approximately 1.9 trillion yuan, an increase of 37.9 billion yuan from the previous trading day[1] - The Shanghai Composite Index closed above 3900 points, marking five consecutive days of gains, while the ChiNext Index remained above 3200 points, indicating stronger momentum compared to the Shanghai index[1] Sector Performance - More sectors declined than rose, with notable gains in oil, power equipment, non-ferrous metals, and construction materials; leading sectors included photolithography machines, liquid cooling, solid-state batteries, lithium mining, and PCB[1][2] - Over 1500 stocks rose, while more than 60% of stocks fell, indicating a mixed market sentiment[1] Investment Trends - The focus is on technology growth sectors, driven by domestic substitution and surging demand for computing power, particularly in photolithography, liquid cooling, and PCB sectors[2] - The lithium battery supply chain is experiencing a rebound due to increased demand from energy storage and new energy vehicles, with structural market trends becoming clearer[2] Fundraising and Investment - In 2023, over 1469 new funds were established, with a total issuance of 11,358.88 billion yuan, marking a record high since 2022; stock funds accounted for 4086.66 billion yuan of this total[11][12] - Stock ETFs saw net subscriptions exceeding 400 billion yuan in December, with broad-based ETFs attracting significant investor interest, totaling 111.37 billion yuan in net inflows[13] Policy and Infrastructure - The central government emphasizes the need for state-owned enterprises to lead in new infrastructure development and ensure supply chain autonomy[5] - The transportation sector's investment during the 14th Five-Year Plan reached 18.8 trillion yuan, with significant progress in major projects, aiming for a robust transportation network[6]

受访人士表示，尾盘拉升并非普涨，而是资金集中追逐高确定性标的的结构性行情，亦折射出避险情绪升温。不过，从当前两市成交额来看，具备支 撑"春季躁动"的基础，接下来宜保持"重概念、轻指数"思路。 零售、军工板块熄火 今日，沪指收涨0.07%报3919.98点，创业板指收涨0.41%报3205.01点，深证成指收涨0.27%。科创50、沪深300、上证50微涨，北证50微跌。 12月23日，A股午后下探、尾盘拉升，主要指数多数收红，成交额放量突破1.9万亿元，却有3856只个股收跌，电力设备、半导体板块相对强势。 市场放量391亿元，成交额升至1.92万亿元；杠杆资金持续加码，截至12月22日，沪深京两融余额刷新至2.52万亿元。 盘面上，大消费与军工板块领跌，商业航天、天机互联、北斗导航、航空航天装备、零售以及休闲服务跌幅居前。半导体、英伟达概念、动力电池回收、 氟化工、麒麟电池、稀有金属等概念则涨幅居前。 | 名称 | . | 米幅% ↓ | 涨停家数 | 跌停家数 | 成交额 | 年初至今涨幅% | 5日涨幅% | | --- | --- | --- | --- | --- | --- | --- | --- ...