近5日机构合计调研287家公司，天孚通信、德赛西威、中矿资源等被多家机构扎堆调研。 | 002056 | 横店东磁 | 1 | 74 | 18.28 | 6.40 | 电力设备 | | --- | --- | --- | --- | --- | --- | --- | | 688599 | 天合光能 | 1 | 73 | 16.72 | 3.47 | 电力设备 | | 301191 | 菲菱科思 | 1 | 73 | 119.00 | 13.46 | 通信 | | 300181 | 佐力药业 | 1 | 70 | 19.77 | -2.51 | 医药生物 | | 002664 | 信质集团 | 1 | 69 | 27.40 | 1.48 | 汽车 | | 002407 | 多氟多 | 1 | 68 | 13.60 | 3.42 | 基础化工 | | 301162 | 国能日新 | 1 | 68 | 54.21 | 6.21 | 计算机 | | 688183 | 生益电子 | 1 | 67 | 71.76 | 31.14 | 电子 | | 301338 | 凯格精机 | 1 | 66 | 70.60 | 2.1 ...

宏观流动性： 上周美元指数继续回落，中美利差"倒挂"程度有所收敛。10Y 美债名义/实际利率均回落，通胀预期有所回升。离岸 美元流动性有所收紧，国内银行间资金面整体平衡、先紧后松，期限利差(10Y-1Y)走阔。 交易热度、波动与流动性： 市场交易热度继续回升，主要指数波动率均明显回升。行业上，计算机、机械、通信、消费者服务、汽车、电子等板 块交易热度在 80%分位数以上，大多数行业波动率均在 60%分位数以下。 机构调研： 电子、通信、计算机、汽车、医药等板块调研热度居前，商贸零售、有色、钢铁、电子、化工等板块的调研热度环比 仍在上升。 分析师预测： 全 A 的 25/26 年净利润预测分别被下调/上调。行业上，钢铁、煤炭、传媒、计算机等板块 25/26 年净利润预测均被 上调。指数上，上证 50 的 25/26 年净利润预测均被上调,中证 500、创业板指的 25/26 年净利润预测均被下调。风格 上，大盘成长/价值的 25/26 年的净利润预测均被上调，中盘/小盘成长、小盘价值的 25/26 年的净利润预测均被下调。 北上活跃度回升，整体净卖出 节奏上，北上经历了"净买入-净卖出-净买入"的过程。基于前 ...

投资策略点评 2025 年 08 月 25 日 机构关注度提升：电力设备、基础化工、食品饮料、 策略研究团队 机构调研信息是对基本面信息的重要补充，但信息量大且杂乱。为了清晰梳理 出调研中有效、增量信息，我们推出机构调研周跟踪系列，汇总最近一周、一 个月公开的机构调研信息，涵盖行业、个股两维度，包含调研热度（环比、同 比数据）、调研获得的行业及个股信息增量。 行业视角看机构调研情况:电力设备、基础化工、食品饮料、钢铁等关注度同 比增加 周度：上周，全 A 的被调研总次数有所回升，但仍低于 2024 年同期，显示调研 热度环比回温。一级行业中，按机构被调研总次数从高到低排序，电子、电力设 备、医药生物、基础化工、机械设备、汽车、计算机的关注度较高。 ——机构调研周跟踪 韦冀星（分析师） 简宇涵（分析师） weijixing@kysec.cn 证书编号：S0790524030002 jianyuhan@kysec.cn 证书编号：S0790525050005 "机构调研信息"是投资者决策过程当中，重要的信息补充 机构调研是资本市场信息传递和价值挖掘的重要环节。对于专业机构而言，是深 度研究、投资决策的关键步骤。相 ...

Group 1: Company Research - Ruifeng Fund recently conducted research on four listed companies, including Taicheng Light, Luwei Optoelectronics, East China Pharmaceutical, and Guangwei Composite [1][2][3] - Taicheng Light's main business is passive optical devices, with over 90% revenue share and a gross margin of around 30%. The company is expanding MT connector capacity and has established a close supply relationship with its largest customer [1] - Luwei Optoelectronics achieved a revenue of 544 million yuan in the first half of 2025, a year-on-year increase of 37.48%, and a net profit of 106 million yuan, up 29.13%. The company holds a 25.52% market share in G11 mask sales, ranking second globally [1] - East China Pharmaceutical has made significant progress in innovative drug development, with multiple products in clinical stages across ADC, autoimmune, and endocrine fields. The innovative drug business accounted for nearly 15% of revenue in the first half of the year [2] - Guangwei Composite is focusing on carbon fiber applications in various fields, with a projected production capacity of 4,000 tons from its Baotou project in the second half of 2024. The company is facing operational challenges due to price issues in the civil carbon fiber sector [3] Group 2: Market Insights - The global semiconductor mask market is expected to reach $8.94 billion in 2025, with the domestic market size around 18.7 billion yuan. The flat panel display mask market is projected to be $2 billion [1] - The demand for masks is influenced by product updates, new technology applications, and the exploration of new scenarios [1] - The company aims to become a world-class mask enterprise, contributing to the semiconductor and display industry chains [1] - The innovative drug sector is expected to grow, with several products anticipated to launch in the next two years [2] - The carbon fiber market is experiencing challenges due to overcapacity and policy incentives, but there is optimism for future growth in specific applications [3]

% 证券研究报告/投资策略 报告日期: 2025年08月19日 > 机构调研热门公司梳理 近30天机构调研家数前二十的热门公司有东鹏饮料、中宠股份、海康威视、 德福科技和新易盛等。近5天机构调研家数前二十的热门公司有南微医学、安 杰思、金橙子、新强联和百亚股份等。近30天机构调研家数前二十的热门公 司中评级机构家数大于或等于10家的有12家，分别为东鹏饮料、中宠股份、 九号公司、百亚股份、海康威视、杰瑞股份、新易盛、宏发股份、南微医学、 百济神州、华明装备和仕佳光子。其中新易盛、东鹏饮料、中宠股份和九号公 分析师:褚聪聪 执业登记编号： A0190523050005 chucongcong@yd.com.cn 研究助理:赵毅轩 执业登记编号: A0190124060001 zhaoyixuan@yd.com.cn 机构调研、股东增持与公司回购策略周报 (20250811-20250815) 投资要点 2025年8月11日至2025年8月15日，发布重要股东增持进展情况公告目评级 机构家数大于10家的公司共5家，但拟增持金额上下限均值占公告日市值比例 均低于1%。 > 本周A股上市公司回购情况 2025年8月1 ...

证券研究报告/投资策略 机构调研、股东增持与公司回购策略周报（20250811-20250815） 投资要点 ➢ 机构调研热门公司梳理 近30天机构调研家数前二十的热门公司有东鹏饮料、中宠股份、海康威视、 德福科技和新易盛等。近5天机构调研家数前二十的热门公司有南微医学、安 杰思、金橙子、新强联和百亚股份等。近30天机构调研家数前二十的热门公 司中评级机构家数大于或等于10家的有12家，分别为东鹏饮料、中宠股份、 九号公司、百亚股份、海康威视、杰瑞股份、新易盛、宏发股份、南微医学、 百济神州、华明装备和仕佳光子。其中新易盛、东鹏饮料、中宠股份和九号公 司 2024年归母净利润相较2023年实现较大增长。 ➢ 本周A股上市公司重要股东增持情况 2025年8月11日至2025年8月15日，发布重要股东增持进展情况公告且评级 机构家数大于10家的公司共5家，但拟增持金额上下限均值占公告日市值比例 均低于1%。 ➢ 本周A股上市公司回购情况 2025年8月11日至2025年8月15日，共计51家公司发布回购进展情况公告， 评级机构家数大于10家（含10家）的共10家，其中，预计回购金额上下限均 值占预案日市值比例大于 ...

Group 1: Industry Overview - The overall attention on the communication, food and beverage, public utilities, and beauty care industries has increased year-on-year [2][3][13] - In the past week, the total number of companies surveyed in the A-share market decreased to 136, lower than 200 in the same period of 2024, indicating a cooling in survey activity [12][21] - The top industries by survey frequency include electric power equipment, machinery, pharmaceutical biology, electronics, and computers [12][21] Group 2: Monthly Trends - In July, the total number of companies surveyed in the A-share market was 1,373, down from 1,505 in the same month of 2024, continuing a downward trend [21][22] - The most surveyed industries in the last month were electronics, machinery, pharmaceutical biology, electric power equipment, and automobiles [21][23] Group 3: Individual Company Focus - Companies such as Huaming Equipment, Weisheng Information, Xinqianglian, and Zhongke Sanhuan received significant market attention, with high survey counts and institutional participation [27][33] - Weisheng Information is focusing on AI large models to drive the intelligent transformation of energy products, with three surveys conducted in the past week [32] - Sanxin Medical is expanding its overseas market presence, enhancing its global competitiveness in blood purification, with two surveys conducted recently [32]

Group 1 - A total of 82 listed companies were investigated by institutions from August 11 to August 15 [1] - Nanwei Medical received the most attention with 183 participating institutions [1] - Anjiasi was investigated by 180 institutions [1] Group 2 - Jin Chengzi and Xin Qiang Lian were each investigated by over 160 institutions [1] - Weisheng Information was investigated 3 times by institutions [1] - Eight companies, including Landi Group, Jereh Group, and Shuanghui Development, were investigated 2 times [1] Group 3 - Institutions continue to focus on sectors such as integrated circuits, industrial machinery, and electronic components [1]

Core Viewpoint - The company, Desay SV, is experiencing a decline in stock price while showing significant growth in revenue and net profit for the first half of 2025 [1] Group 1: Financial Performance - The company reported a revenue of 14.644 billion yuan for the first half of 2025, representing a year-on-year increase of 25.25% [1] - The net profit for the same period was 1.223 billion yuan, reflecting a year-on-year growth of 45.82% [1] Group 2: Market Activity - The stock price of Desay SV is currently at 108.96 yuan, down by 0.23 yuan from the previous trading day [1] - The trading volume on the day reached 895 million yuan, with a fluctuation of 1.93% and a turnover rate of 1.48% [1] Group 3: Institutional Engagement - On August 14, the company hosted a research meeting with several institutions, including APS Asset Management and Goldman Sachs Asset Management [1] - During the meeting, it was disclosed that new project orders have an annualized sales value exceeding 18 billion yuan, and plans for overseas production capacity in Germany have been initiated [1] - Over the past year, the company has received a total of 605 institutional research visits, totaling 881 times [1] Group 4: Capital Flow - On August 15, there was a net outflow of 16.2119 million yuan from major funds, with a total net outflow of 275 million yuan over the past five days [1]

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Northern Rare Earth, Ice Wheel Environment, Weili Transmission, Jiangbolong, and Dazhu Laser [10][11] - In the last five days, the most popular companies for institutional research include Huaming Equipment, Tapa Group, BOE Technology Group, Xizi Clean Energy, and Amway Co., Ltd. [10][12] - Among the top twenty companies in the past 30 days, seven companies had ten or more rating agencies, including Zhongkong Technology, Ningbo Bank, China National Heavy Duty Truck Group, BOE Technology Group, Kebo Da, Huaming Equipment, and Northern Rare Earth. Notably, China National Heavy Duty Truck Group, BOE Technology Group, and Kebo Da are expected to see significant growth in net profit attributable to shareholders in 2024 compared to 2023 [10][11] Group 2: Shareholder Increase in A-Share Listed Companies - From August 4 to August 8, 2025, two companies announced significant shareholder increases: Huaxi Biological and Daodaquan. Huaxi Biological has more than ten rating agencies, with the average proposed increase amount accounting for approximately 1% of the latest market value [13][14] - From January 1 to August 8, 2025, a total of 246 companies announced shareholder increases, with 65 of them having ten or more rating agencies. Among these, 19 companies had an average proposed increase amount accounting for more than 1% of the latest market value, including New Energy, Tunnel Shares, Sailun Tires, and Wanrun Shares [14][15] Group 3: Share Buyback Situation in A-Share Listed Companies - From August 4 to August 8, 2025, a total of 106 companies announced buyback progress, with 33 of them having ten or more rating agencies. Among these, eight companies had an average expected buyback amount accounting for more than 1% of the market value on the announcement date, including Xiamen Xiangyu, Huafa Shares, Changhong Meiling, Newland, Xinmai Medical, Huaming Equipment, Jinzhai Food, and BOE Technology Group [17][18] - From January 1 to August 8, 2025, a total of 1,654 companies announced buyback progress, with 361 of them having ten or more rating agencies. Among these, 101 companies had a significant buyback ratio, with the expected buyback amount accounting for more than 1% of the market value on the announcement date, including Liugong, Sannuo Biological, Shantui Shares, Haixing Electric, Jiayi Shares, Fuanna, and Gao Neng Environment [18][19]