Market Overview - The A-share market experienced a slight pullback from September 1 to 5, with the Shanghai Composite Index down 1.18% to close at 3812.51 points, while the Shenzhen Component fell 0.83% and the ChiNext Index rose 2.35% [1] - Among the sectors, power equipment, light industry manufacturing, and textile and apparel showed the highest gains, while defense, computer, and communication sectors performed relatively weak [1] - New energy themes such as power batteries, photovoltaic inverters, lithium battery electrolytes, lithium battery anode materials, and energy storage exhibited significant rotation and activity [1] Institutional Research Highlights - A total of 353 companies disclosed institutional research minutes last week, with approximately 30% of these companies achieving positive returns [1] - Notable performers included China Ruilin, which saw a stock price increase of 27.64% over four days, and several other companies like Huasheng Lithium Battery and Huawai Technology, which recorded gains exceeding 20% [1] Company-Specific Insights 澜起科技 (Chip Design) - 澜起科技 received attention from 231 institutions last week, reporting a revenue of 2.633 billion yuan for the first half of 2025, a year-on-year increase of 58.17%, and a net profit of 1.159 billion yuan, up 95.41% [3] - The company attributed its growth to the booming AI industry, with significant increases in the shipment of DDR5 memory interface and module chips, as well as rapid growth in three high-performance chips [3][4] - The PCIe Retimer chip, crucial for AI servers, has evolved from PCIe 3.0 to PCIe 4.0, doubling data transmission speed from 8GT/s to 16GT/s, addressing issues of signal integrity and timing [3][4] 炬光科技 (Optical Technology) - 炬光科技 engaged with 192 institutions, reporting a revenue of 393 million yuan for the first half of 2025, a 26.20% increase, and a net loss reduction to 24.94 million yuan, improving cash flow [6] - The company's gross margin improved significantly to 33%, driven by optimizing business structure, turning around the gross margin of automotive micro-lens array products, and accelerating new business development [6] 恺英网络 (Gaming Industry) - 恺英网络 held discussions with 162 institutions, achieving a revenue of 2.578 billion yuan for the first half of 2025, a 0.89% increase, and a net profit of 950 million yuan, up 17.41% [8] - The company introduced its AI toy brand "Warm Star Valley Dream Journey," targeting emotional companionship for the 12-35 age group, with plans to launch products in 2025 [8][9] - Additionally, 恺英网络 developed an AI full-process development platform "SOON" for the gaming industry, significantly shortening traditional game development cycles, and has attracted strategic investments [9]

来源：市场资讯 （来源：ETF炼金师） 在8月中美两国延迟实施对等关税并且美俄、美乌领导人会晤或将提升俄乌冲突停息的可能性背景下， A股市场呈现出强劲的上涨趋势。这一趋势得到美联储鸽派言论的助力，市场对降息的预期进一步增 强。在国内政策方面，国务院积极推行"人工智能+"行动计划，以及上海市放宽限购等一系列政策，均 为市场注入了新的活力。本月的A股表现尤为亮眼，上证指数逐步逼近3900点，公募基金新发份额、私 募管理规模和融资余额均出现了明显的增长，北向资金日均成交额持续活跃，机构和个人投资者的新增 开户数也显著增加，机构与个人投资者的资金增量实现共振。 在牛市的主线风格上，"强者恒强"的局面依然明显，但周期股在后期的表现同样值得关注。通过对06- 07年及14-15年牛市的复盘，发现周期风格在大盘整固后的后半段表现相对强劲。本轮牛市中，周期股 保持了较为稳定的超额收益，尽管未能显著跑赢大盘。根据四象限分析，2025年第二季度的行业格局出 现了一定变化，其中有色金属和化工行业的营收增速及净资产收益率（ROE）环比变化均较为乐观，显 示出良好的基本面特征。 从2025年中报的视角分析，多个行业的景气度表现向好，包 ...

好太太股价创出历史新高，截至9:48，该股上涨6.53%，股价报26.42元，成交量245.36万股，成交金额 6334.57万元，换手率0.61%，该股最新A股总市值达106.32亿元，该股A股流通市值106.32亿元。 证券时报•数据宝统计显示，好太太所属的轻工制造行业，目前整体跌幅为0.10%，行业内，目前股价上 涨的有55只，涨幅居前的有景兴纸业、中锐股份、好太太等，涨幅分别为10.00%、9.93%、6.53%。股 价下跌的有95只，跌幅居前的有中源家居、*ST亚振、佳合科技等，跌幅分别为4.92%、3.00%、 2.62%。 公司发布的半年报数据显示，上半年公司共实现营业收入6.77亿元，同比下降5.00%，实现净利润 8617.10万元，同比下降39.97%，基本每股收益为0.2100元，加权平均净资产收益率3.51%。（数据宝） 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 ...

分行业看，申万所属行业中，融资余额增加的行业有11个，增加金额最多的行业是电力设备，融资余额 增加11.44亿元；其次是汽车、交通运输行业，融资余额分别增加3.39亿元、2.34亿元。 9月4日沪指下跌1.25%，市场两融余额为22795.44亿元，较前一交易日减少103.17亿元。 证券时报·数据宝统计显示，截至9月4日，沪市两融余额11634.78亿元，较前一交易日减少49.81亿元； 深市两融余额11087.02亿元，较前一交易日减少53.49亿元；北交所两融余额73.64亿元，较前一交易日 增加0.13亿元；深沪北两融余额合计22795.44亿元，较前一交易日减少103.17亿元。 具体到个股来看，融资余额出现增长的股票有1812只，占比48.72%，其中，294股融资余额增幅超过5% 。融资余额增幅最大的是宏裕包材，该股最新融资余额840.29万元，较前一交易日增幅达145.92%；股 价表现上，该股当日上涨29.99%，表现强于沪指；融资余额增幅较多的还有欧普泰、中科美菱，融资 余额增幅分别为66.83%、65.72%。 | 代码 | 简称 | 最新融资余额（万 | 较前一个交易日增减 | 当日涨 ...

| | | 览 "马字辈"个股涨幅一 | | | --- | --- | --- | --- | | 证券代码 | 证券名称 | 涨跌幅% | 所属申万一级行业 | | 002210.SZ | 飞马国际 | 9.90 | 环保 | | 300993.SZ | 玉马科技 | 6.88 | 轻工制造 | | 600810.SH | 神马股份 | 5.89 | 基础化工 | | 605378.SH | 野马电池 | 5.26 | 电力设备 | | 838971.BJ | 天马新材 | 4.12 | 基础化工 | | 000572.SZ | 海马汽车 | 2.48 | 汽车 | | 002563.SZ | 糕鸟服饰 | 2.21 | 纺织服饰 | | 603686.SH | 福龙马 | 1.89 | 环保 | | 600375.SH | 汉马科技 | 1.77 | 汽车 | | 603530.SH | 神马电力 | 1.74 | 电力设备 | | 301533.SZ | 咸马农机 | 1.56 | 机械设备 | | 603668.SH | 天马科技 | 1.51 | 农林牧渔 | | 688360.SH | 德马科技 ...

见习记者丨李益文 编 辑丨叶映橙 9 月 3 日 ， A 股 市 场 震 荡 分 化 ， 但 " 马 字 辈 " 个 股 却 异 动 拉 升 。 截 至 收 盘 ， 飞 马 国 际 （ 002210.SZ ） 涨 停 、 玉 马 科 技 （ 300993.SZ ） 、 神 马 股 份 （ 600810.SH ） 、 野 马 电 池 （605378.SH）涨超5%，天马新材（838971.BJ）、海马汽车（000572.SZ）等个股跟涨。 | | | "马字辈"个股涨幅一览 | | | --- | --- | --- | --- | | 证券代码 | 证券名称 | 涨跌幅% | 所属申万一级行业 | | 002210.SZ | 飞马国际 | 9.90 | 环保 | | 300993.SZ | 玉马科技 | 6.88 | 轻工制造 | | 600810.SH | 神马股份 | 5.89 | 基础化工 | | 605378.SH | 野马电池 | 5.26 | 电力设备 | | 838971.BJ | 天马新材 | 4.12 | 基础化工 | | 000572.SZ | 海马汽车 | 2.48 | 汽车 | | 0 ...

好太太股价创出历史新高，截至9:48，该股上涨6.53%，股价报26.42元，成交量245.36万股，成交金额 6334.57万元，换手率0.61%，该股最新A股总市值达106.32亿元，该股A股流通市值106.32亿元。 公司发布的半年报数据显示，上半年公司共实现营业收入6.77亿元，同比下降5.00%，实现净利润 8617.10万元，同比下降39.97%，基本每股收益为0.2100元，加权平均净资产收益率3.51%。（数据宝） 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （文章来源：证券时报网） 证券时报·数据宝统计显示，好太太所属的轻工制造行业，目前整体跌幅为0.10%，行业内，目前股价上 涨的有55只，涨幅居前的有景兴纸业、中锐股份、好太太等，涨幅分别为10.00%、9.93%、6.53%。股 价下跌的有95只，跌幅居前的有中源家居、*ST亚振、佳合科技等，跌幅分别为4.92%、3.00%、 2.62%。 ...

◎记者 时娜 此外，创业板公司"造血"能力明显增强，平均实现经营活动现金净流入1.13亿元，同比大幅增长 54.44%。 上半年，1384家创业板上市公司中，1028家公司实现盈利，占比74.28%；728家公司净利润实现同比增 长，占比52.60%，较上年同期增加4.86个百分点。其中，305家公司净利润同比增长幅度超50%，173家 公司净利润同比增长幅度超100%。 上半年，创业板头部公司业绩保持较快增长，持续发挥"压舱石"作用：市值排名前百位的公司合计实现 营业收入9372.31亿元，同比增长14.59%；合计实现净利润1024.54亿元，同比增长21.56%；营业收入和 净利润占板块总额的比重分别为45.68%和68.06%。 2025年第二季度，创业板公司收入、净利润进一步向好，合计实现营业收入1.10万亿元，平均实现营业 收入7.93亿元，环比增长14.95%；合计实现净利润788.20亿元，平均实现净利润0.57亿元，环比增长 9.90%。 截至2025年8月底，创业板1384家上市公司完成了2025年半年报披露。总体来看，创业板上市公司坚持 创新发展，上半年营收、净利润增速双双"领跑"A股。 ...

Core Insights - In the first half of 2025, companies on the ChiNext board achieved a total revenue of 2.05 trillion yuan and a net profit exceeding 150 billion yuan, with year-on-year growth rates of over 9% and 11% respectively, leading the A-share market [1][2] Revenue and Profit Growth - ChiNext companies reported a total revenue of 2.05 trillion yuan, with an average revenue of 1.48 billion yuan, marking a year-on-year increase of 9.03% [2] - The total net profit reached 1505.42 billion yuan, with an average net profit of 1.09 billion yuan, reflecting a year-on-year growth of 11.18% [2] - Over 70% of ChiNext companies were profitable, with more than half reporting a year-on-year increase in net profit, an increase of 4.86 percentage points compared to the previous year [2] - In Q2 2025, ChiNext companies achieved a total revenue of 1.10 trillion yuan, with a quarter-on-quarter growth of 14.95% [2] Key Growth Areas - The ChiNext board actively engaged in economic development, focusing on advanced manufacturing, digital economy, and green low-carbon sectors, with over 800 listed companies in these areas [3] - Companies in these three key sectors generated a total revenue of 1.34 trillion yuan, with a year-on-year growth of 9.87% and a net profit of 1139.19 billion yuan, growing 15.90% year-on-year [3] - The green low-carbon sector showed strong performance, with over 190 companies achieving a total revenue of 507.35 billion yuan, a year-on-year increase of 10.85% [3] Digital Economy and Advanced Manufacturing - The digital economy sector, comprising over 300 companies, reported a total revenue of 3709.48 billion yuan, growing 8.66% year-on-year, and a net profit of 292.15 billion yuan, increasing 40.03% [4] - The advanced manufacturing sector, with 327 companies, achieved a total revenue of 4611.34 billion yuan, reflecting a year-on-year growth of 9.79% [4] Highlights of Performance - The top 100 companies on the ChiNext board generated a total revenue of 937.23 billion yuan, with a year-on-year growth of 14.59% and a net profit of 1024.54 billion yuan, growing 21.56% [6] - Overseas revenue for ChiNext companies increased significantly by 21.26%, with notable growth in the electronics and communication sectors [6] - The consumer electronics, automotive, and small home appliance sectors saw net profit growth of 16.80%, 9.57%, and 21.94% respectively, driven by supportive policies [7] Investment and R&D Trends - ChiNext companies increased their R&D expenditures to a total of 949.89 billion yuan, a year-on-year growth of 5.35% [7] - Long-term asset investments by ChiNext companies totaled 182.23 billion yuan, reflecting a year-on-year increase of 9.43%, indicating a strong recovery in investment expansion intentions [7]

【导读】上半年 创业板公司 合计实现 营收 2.05 万亿元，净利润超 1500 亿元 从单季度业绩看，收入净利润环比增速亮眼。创业板公司2025年第二季度合计实现营收1.10 万亿元，平均实现营收7.93亿元，环比增长14.95%；合计实现净利润788.20亿元，平均实 现净利润0.57亿元，环比增长9.90%。 三大重点领域增长动能强劲 创业板主动融入经济社会发展大局，积极贯彻创新驱动发展战略，在先进制造、数字经济、 绿色低碳等重点领域汇聚超800家上市公司。 中国基金报记者 张燕北 伴随着上市公司2025年半年报披露完毕，创业板公司半年度的经营情况全部浮出水面。在今 年上半年复杂多变的外部环境下，创业板公司整体经营业绩明显改善，合计实现营业收入 （以下简称营收）超2万亿元，实现归属于上市股东的净利润（以下简称净利润）超1500亿 元，同比增速分别超过9%和11%，领跑A股市场。 整体亮眼的经营业绩背后，创业板公司三大重点领域增长动能强劲。此外，业绩报告透露出 几大重要趋势，例如海外多元化布局成效显现、研发创新投入持续加大等。 营收、净利润增速领跑A股市场 截至8月31日，创业板1384家上市公司披露20 ...