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中邮证券:低基数+竞争缓和 关注下半年消费建材盈利改善
智通财经网· 2025-08-26 03:41
行业需求端在地产影响下25年呈现持续下行态势,6-8月淡季需求表现尚可,但行业供需矛盾仍存,下 游终端需求改善有限。供给端,考虑到目前浮法玻璃行业中大部分企业已能达到环保要求,判断反内卷 政策不会产生一刀切式产能出清,但仍会提升环保要求及成本,加速行业的冷修进度。关注:旗滨集 团。 玻纤:AI产业链有望提振需求,细分领域表现景气 智通财经APP获悉,中邮证券发布研报称,消费建材行业虽然需求仍属于承压阶段,但也观察到积极信 号不断出现。展望下半年,预计行业已从左侧逐步进入右侧区域,一方面先行于行业基本面的地产开工 及施工数据有望进入企稳区间,另一方面,在低基数+竞争缓和背景下,盈利改善逻辑会在更多品类逐 步兑现,建议关注:东方雨虹(002271.SZ)、三棵树(603737.SH)、北新建材(000786.SZ)、兔宝宝 (002043.SZ)。 中邮证券主要观点如下: 水泥:逐步进入旺季,整体需求恢复缓慢 7月1日水泥协会发布响应反内卷政策文件,判断会推动限制超产政策更好的执行。从中期维度来看,水 泥行业产能有望在限制超产政策下产能持续下降,产能利用率从而大幅提升,目前水泥行业处于淡季需 求低点及价格低点。8 ...
昨日获超2400万元资金净流入,港股科技30ETF(513160)盘中溢价,机构:科技成长板块有望保持高景气度
成分股中,中国软件国际涨超4%,美图公司、黑芝麻智能、商汤-W等跟涨,东方甄选跌超7%,中兴通 讯、华虹半导体等跟跌。 8月26日,港股恒生科技指数盘中跌幅超1%。 全市场热门ETF中,港股科技30ETF(513160)截至发稿跌0.76%,成交额超9300万元,换手率 3.84%,盘中交投活跃,溢折率0.65%,盘中频现溢价交易。 (本文机构观点来自持牌证券机构,不构成任何投资建议,亦不代表平台观点,请投资人独立判断和决 策。) 中国银河证券表示,市场有望围绕AI产业链、反内卷、非银金融等板块轮动。行业与主题层面,科技 成长板块在AI技术革命及新兴产业趋势的推动下,有望保持高景气度。 资金流向上,Wind金融终端数据显示,港股科技30ETF(513160)昨日获2479万元资金净流入,该 ETF近5个交易日累计"吸金"超2.9亿元。 港股科技30ETF(513160)紧密跟踪恒生港股通中国科技指数,该指数跟踪可经港股通买卖,从事科技 业务并于香港上市的内地公司之表现。 消息面上,8月25日,英伟达正式推出其专为机器人应用设计的计算平台Jetson AGX Thor 开发者套件及 量产模块,目前已正式全面上市 ...
权重股走强 A股成交额超3万亿元
8月25日,A股市场主要指数普遍上涨。成交额放量至3.18万亿元,创历史第二高,为连续9个交易日超2 万亿元。通信板块领涨市场,行业板块全线上涨,整个A股市场超3300只股票上涨,逾90只股票涨停。 分析人士认为,当前市场情况下,赛道轮动仍是最显著的行情特征,市场有望围绕AI产业链、"反内 卷"、非银金融等板块轮动。 ● 本报记者 吴玉华 主要指数普遍上涨 8月25日,A股市场主要指数均上涨。截至收盘,上证指数、深证成指、创业板指、科创50指数、北证 50指数分别上涨1.51%、2.26%、3.00%、3.20%、0.23%。 权重股走强,大盘股集中的上证50指数、沪深300指数分别上涨2.09%、2.08%,小微股集中的中证1000 指数、中证2000指数、万得微盘股指数分别上涨1.56%、1.17%、0.27%,大盘股表现更为强势。 部分大盘股走强带动指数上行,从对指数贡献度来看,中际旭创、新易盛、胜宏科技、宁德时代、阳光 电源对创业板指贡献点数居前,合计为50.94点,占创业板指上涨点数的逾六成。寒武纪-U、海光信 息、澜起科技、芯原股份、大全能源对科创50指数贡献点数居前,合计为38.97点,占科创5 ...
中报逐步披露,关注下半年消费建材盈利改善
China Post Securities· 2025-08-25 09:20
证券研究报告:建筑材料|行业周报 发布时间:2025-08-25 行业投资评级 强于大市|维持 行业相对指数表现 研究所 分析师:赵洋 SAC 登记编号:S1340524050002 Email:zhaoyang@cnpsec.com 近期研究报告 《俄乌冲突有望结束,关注乌克兰重建 受益标的》 - 2025.08.18 建材行业报告 (2025.08.18-2025.08.24) 中报逐步披露,关注下半年消费建材盈利改善 投资要点 消费建材行业龙头企业已逐步披露中报,行业整体虽然需求仍属 于承压阶段,但我们也观察到积极信号不断出现,如防水、涂料等行 业龙头企业加强协同,开始在底部区域协同提价,各个品类价格竞争 明显缓和,同时如三棵树披露中报,我们看到其产品结构提升、费用 降低带来的盈利改善逻辑如期兑现。 展望下半年,我们认为行业已从左侧逐步进入右侧区域,一方面 先行于行业基本面的地产开工及施工数据有望进入企稳区间,另一方 面,在低基数+竞争缓和背景下,盈利改善逻辑会在更多品类逐步兑 现,建议关注:东方雨虹、三棵树、北新建材、兔宝宝。 | 行业基本情况 | | | --- | --- | | 收盘点位 | 5 ...
A股指数集体高开:创业板指涨1.41%,算力芯片、CPO等板块涨幅居前
凤凰网财经讯 8月25日,三大指数集体高开,沪指高开0.59%,深成指高开1.03%,创业板指高开 1.41%,算力芯片、CPO、华为昇腾等板块指数涨幅居前。 | | | | | 沪深京重要指数 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 *● | 咸新 | 张幅% | | 涨跌 涨跌家数 涨速% | | 总手 | 现手 金额 | | 上证指数 | 3848.16 | 0.59 | 22.40 | 1508/434 | -0.02 | 845 / | 845万 145.51亿 | | 深证成指 | 12291.12 | 1.03 | 125.06 | 1886/571 | 0.11 | 1055万 | 1055万 174.87亿 | | 北证50 | 1608.69 | 0.53 | 8.41 | 203/52 | 0.39 | 10.2万 | 10.2万 2.97亿 | | 创业板指 | 2720.28 | 1.41 | 37.73 | 924/308 | 0.07 | 297 万 | 297万 75.33亿 | 机构观点: ...
港股三大指数涨幅分化明显,场内热点快速轮动
Yin He Zheng Quan· 2025-08-24 07:08
策略研究 · 周度报告 港股三大指数涨幅分化明显,场内热点快速轮动 2025 年 08 月 24 日 核心观点: 分析师 杨超 :010-8092-7696 :yangchao_yj@chinastock.com.cn 分析师登记编码:S0130522030004 周美丽 :zhoumeili_yj@chinastock.com.cn 分析师登记编码:S0130525070002 相关研究 | 2025-06-27,2025 年大类资产中期投资展望:驭变谋 | | --- | | 势 | | 2025-06-22,2025 年港股中期投资展望:时移世易, | | 见机而作 | | 2025-06-21,2025 年 A 股中期投资展望:筑基行稳, | | 重塑鼎新 | | 2025-06-10,稳定币概念股投资展望 | | 2025-05-29,上市公司并购重组迎来哪些新变化? | | 2025-05-07,关键时间节点的发布会:一揽子金融政策 | | 稳市场稳预期 | | 2025-04-25,4 月中央政治局会议解读: "持续稳定和 | | 活跃资本市场"聚焦哪些方面? | | 2025-04-23,公募 ...
收评:沪指震荡微涨,石油、银行等板块拉升
Jing Ji Wang· 2025-08-21 08:25
Market Overview - The Shanghai Composite Index closed at 3771.10 points, with an increase of 0.13% and a trading volume of 997.74 billion [1] - The Shenzhen Component Index closed at 11919.76 points, down by 0.06%, with a trading volume of 1426.31 billion [1] - The ChiNext Index closed at 2595.47 points, decreasing by 0.47%, with a trading volume of 648.04 billion [1] Sector Performance - Sectors such as semiconductors, brokerage, non-ferrous metals, automotive, and liquor experienced declines [1] - The AI industry chain stocks also saw a pullback [1] - Conversely, sectors including oil, electricity, coal, and gas collectively surged, along with an upward movement in the banking sector [1] - Digital currency and fertilizer concepts remained active in the market [1]
收评:沪指震荡微涨,石油、银行等板块拉升,AI产业链股下挫
东兴证券指出,A股将会步入一轮中长期慢牛,市场走到目前阶段远未结束,居民存款搬家的空间仍然 十分巨大,经济未来进入新一轮复苏周期的时间节点可能也不会太远,同时,资本市场制度性红利不断 显现,上市公司质量稳步提升,新质生产力含量不断提升,市场有望出现业绩与指数共振的中长期趋 势。从短期来看,市场有望剑指4000点整数关口,进而强化中期慢牛的宏大叙事,同时有望进一步激活 场外资金对A股的配置热情,从更长的维度看,我们相信中国股票市场会创出新的高度。配置方向当前 以大科技为主。 21日,沪指盘中强势震荡,尾盘探底回升,深证成指、创业板指下探,场内超3000股飘绿。 截至收盘,沪指涨0.13%报3771.1点,深证成指微跌0.06%报11919.76点,创业板指跌0.47%报2595.47 点,上证50指数涨0.53%,沪深北三市合计成交24608亿元。 盘面上看,半导体、券商、有色、汽车、酿酒等板块走低,AI产业链股回落;石油、电力、煤炭、燃 气等板块集体拉升,银行板块亦上扬,数字货币、化肥概念等活跃。 (文章来源:证券时报网) ...
三大指数集体上涨 沪指大涨1.04%
Chang Jiang Shang Bao· 2025-08-20 23:48
Core Viewpoint - The three major indices in China experienced collective gains, reaching new highs for the year, indicating a positive market sentiment and increased investor participation [1] Market Performance - The Shanghai Composite Index closed at 3766.21 points, up 1.04% - The Shenzhen Component Index closed at 11926.74 points, up 0.89% - The ChiNext Index closed at 2607.65 points, up 0.23% - The total trading volume in the Shanghai and Shenzhen markets reached 2.41 trillion yuan [1] Sector Performance - Chip stocks surged in the afternoon, with Cambrian Technology hitting a historical high - Consumer stocks, particularly in the liquor sector, rebounded, with JiuGuiJiu achieving two consecutive trading limits - Consumer electronics stocks were active, with Anjie Technology reaching the daily limit - High-priced stocks experienced significant declines, with multiple stocks like Zhongheng Electric hitting the daily limit down [1] Investor Sentiment - China Galaxy noted that investors are accelerating their entry into the market, with a clear trend of reallocating household wealth towards financial assets - The recovery in market risk appetite is expanding the profit-making effect, with capital inflow becoming a crucial driving force for the market's upward trend [1] Market Outlook - Dongfang Securities indicated that the market is gradually entering a high-level fluctuation zone, with diminishing marginal positive factors - The end of August is expected to be a peak period for mid-year report disclosures, leading the market to refocus on performance-driven strategies, with defensive strategies becoming mainstream [1]
3700点纠结是否上车,这类基金或是答案?
Wind万得· 2025-08-20 22:49
Core Viewpoint - The article highlights the current market situation where the Shanghai Composite Index has reached a 10-year high, emphasizing the challenges ordinary investors face in timing the market and selecting stocks effectively [1] Industry Performance Summary - In recent years, the performance of various sectors in the A-share market has shown significant variability, with energy achieving double-digit growth even during the bear market of 2022, while real estate declined nearly 10% during the bull market of 2020 [1] - The annual performance of different sectors from 2019 to 2024 indicates that sectors like daily consumption and information technology have fluctuated significantly, with some years showing strong growth while others faced declines [3] Fund Manager Insights - Professional fund managers are better equipped to navigate market risks and opportunities, with several actively managed funds achieving positive returns and annualized rates above 16% since January 1, 2022 [4] - Specific fund managers, such as Shen Li, Zhang Chengyuan, and Hu Zhongyuan, have demonstrated effective strategies in managing their funds, focusing on growth, flexibility, and stable returns respectively [6][13][19] Investment Strategy Recommendations - Ordinary investors are advised to focus on finding suitable professional management tools that align with their risk preferences rather than getting caught up in short-term market fluctuations [25] - The article suggests that long-term investment strategies, rather than precise timing, are key to asset appreciation over time [25]