转自：新华财经 新华财经北京9月5日电（王媛媛）市场全天震荡走高，创业板指涨超6%，沪指重新站上3800点。截至 收盘，沪指报3812.51点，涨1.24%，成交9791亿元；深证成指报12590.65点，涨3.89%，成交13256亿 元；创业板指报2958.18点，涨幅6.55%，成交6761亿元。沪深两市全天成交额2.3万亿元，较上个交易 日缩量2396亿元。 行业板块大部分收涨，固态电池概念爆发，电池、能源金属、光伏设备、风电设备、电源设备板块涨幅 居前，两市仅有银行、保险板块下跌。 盘面热点 消息面上 扩大服务消费若干政策举措有望近日推出 将着力增加高品质服务供给 据中证报，记者近日获悉，扩大服务消费若干政策举措有望近日推出。为顺应居民消费结构升级的趋 势，新政策举措将着力增加高品质服务供给，包括扩大入境消费，推出更多优质入境旅游线路和服务； 推动互联网、文化等领域有序开放；推动将露营、民宿、物业服务、"互联网+医疗"等服务消费条目纳 入鼓励外商投资产业目录等。 海南：实施更加开放便利的离岛旅客免税购物政策 推动提升免税购物额度 个股涨多跌少，全市场超4800只个股上涨，下跌个股不足500只。 机构 ...

低开低走后一路回撤，截止午盘三大指数集体收跌，其中沪指下跌1.97%，深成指下跌2.37%，创业板 指下跌3.2%，科创50大跌5.38%。两市个股涨跌互现，合计成交额1.6万亿。 大消费股逆势走强，旅游酒店、商业百货、零售等方向领涨，其中岭南空格、汇嘉时代、步步高等在内 的多股涨停。固态电池概念股维持强势，其中金龙羽涨停。光伏、储能概念股表现活跃，其中安彩高科 涨停。电池、食品、光伏等板块涨幅居前。 CPO概念低开低走陷入调整，截止午盘大跌5.11%，包括仕佳光子、炬光科技、天孚通信、新易盛、太 辰光等在内的超10只个股跌停或跌幅在10%上方。百元股、高宽带内存、半导体、存储芯片等板块紧随 其后，且跌幅均在4%上方。 消息面：2025年上半年，包括先导智能、海目星、赢合科技、利元亨等多家头部设备企业披露的新签及 在手订单总额已超过300亿元，同比涨幅高达70%至80%。全球以太网光模块市场规模有望持续快速增 长，2026年将同比增长35%至189亿美元。2025年Q2全球智能手表出货量同比增长8%，华为智能手表出 货量首次夺冠超越苹果 欢迎您在评论中分享自己的看法，大家一起学习和讨论。 ...

盘面热点 新华财经北京9月3日电 周三A股场全天震荡分化，三大指数涨跌不一。截至收盘，沪指跌1.16%，收报 3813.56点；深证成指跌0.65%，收报12472.00点；创业板指涨0.95%，收报2899.37点。沪深两市成交额 23641亿元，较昨日大幅缩量5109亿元。 板块方面，光伏、贵金属、游戏等板块涨幅居前，小金属、证券、软件开发、农业等板块跌幅居前。 消息面上 蚂蚁集团旗下公司等入股烨知芯科技后者经营范围含集成电路芯片设计等 天眼查工商信息显示，近日，上海烨知芯科技有限公司发生工商变更，新增蚂蚁集团旗下上海云玡企业 管理咨询有限公司、上海中科创星先导创业投资合伙企业（有限合伙）为股东，同时注册资本由100万 人民币增至约129.6万人民币。上海烨知芯科技有限公司成立于今年5月，法定代表人为李政，经营范围 包括集成电路芯片设计及服务、人工智能基础软件开发、人工智能理论与算法软件开发等。股东信息显 示，该公司现由李政、上海厚成至信企业管理合伙企业（有限合伙）及上述新增股东等共同持股。 财政部拟第二次续发行2025年超长期特别国债（三期） 招标面值总额350亿元 据财政部9月3日消息，财政部拟第二次 ...

| 代码 | 名称 | 最新价 | 涨跌幅 ▽ | | --- | --- | --- | --- | | 00968 | 信义光能 | 3.440 | 3.93% | | 03606 | 福耀玻璃 | 71.950 | 2.93% | | 01250 | 山高新能源 | 2.280 | 2.70% | | 01799 | 新特能源 | 7.980 | 2.70% | | 00451 | 协鑫新能源 | 0.780 | 2.63% | | 03868 | 信义能源 | 1.270 | 2.42% | | 00750 | 水发兴业能源 | 0.290 | 1.75% | | 06865 | 福菜特玻璃 | 10.680 | 1.04% | | 01108 | 凯盛新能 | 4.460 | 0.45% | 港股异动丨光伏股拉升 信义光能涨超4% 福耀玻璃、山高新能源涨约3% 信义光能(00968.HK)获摩根大 通增持67.53万股 港股异动丨光伏股拉升 信义光能涨超4% 福耀玻璃、山高新能源涨约3% 政策东风起， 山高新能源(01250.HK)的"稳"与"进" 新特能源(01799.HK)中期收入73.1亿元 ...

Core Viewpoint - The A-share market has shown strong performance, with the Shanghai Composite Index reaching a ten-year high, supported by both capital inflow and fundamental performance [2][3][4]. Market Performance - On August 18, the Shanghai Composite Index rose by 0.85%, closing at 3728 points, marking the highest level since August 20, 2015. The total market capitalization of A-shares surpassed 100 trillion yuan [2]. - Since the end of June, the A-share market has been on an upward trend, with daily trading volumes exceeding 2.8 trillion yuan. Small-cap and growth styles have outperformed, with notable increases in indices such as the ChiNext Index and the CSI 2000 [2][3]. Capital and Fundamental Support - The recent market performance is driven by capital inflow and earnings support, with a significant increase in trading volume and margin financing balances. The macroeconomic environment remains stable, with expectations of interest rate cuts from the Federal Reserve and ongoing supportive policies in China [3]. - The current earnings season is crucial, with a focus on industries showing strong fundamentals [3]. Valuation Analysis - The overall valuation of A-shares is considered reasonable, with the CSI 300's dynamic price-to-earnings ratio around 12.2 times, indicating it is not overvalued compared to historical levels. The market capitalization to GDP ratio remains relatively low among major global markets [4]. - The market's total capitalization to M2 ratio is approximately 33%, which is at the 60% historical percentile, suggesting a balanced valuation [4]. Investment Recommendations - Focus on sectors with high growth potential and earnings validation, such as AI/computing, innovative pharmaceuticals, military industry, and non-ferrous metals [5]. - Consider industries benefiting from increased retail participation, such as brokerage and insurance, as well as sectors aligned with government policies like photovoltaic energy [5].

板块方面，PEEK材料、液冷服务器、光伏设备、证券等板块涨幅居前，银行、白酒、游戏等板块跌幅 居前。 市场早盘震荡反弹，创业板指领涨。大小指数明显分化，中小盘股普涨。沪深两市半日成交额1.31万 亿，较上个交易日缩量1038亿。盘面上热点较为杂乱，个股涨多跌少，全市场超4400只个股上涨。截至 收盘，沪指涨0.47%，深成指涨1.19%，创业板指涨2.14%。 从板块来看，券商、金融科技股震荡走强，指南针再创历史新高。液冷服务器概念股再度爆发，川环科 技等多股涨停。光伏概念股展开反弹，欧晶科技涨停。下跌方面，银行股展开调整， "工农中建"四大 行均跌逾2%。 ...

Group 1 - The article highlights the importance of weekly announcements from Sunday to Thursday, which include significant stock market events such as suspensions, shareholding changes, investment wins, acquisitions, earnings reports, unlocks, and high transfers, marked in red for easy identification [1] - A company has achieved mass production and shipment in the optical module and CPO packaging fields, collaborating deeply with Nvidia on 1.6T optical module process development [1] - Another company is involved in high-performance chips with multiple projects undergoing sampling and validation, focusing on optical modules, glass substrates, advanced packaging, and storage chips in partnership with Huawei [1] Group 2 - A company plans to invest 300 million yuan in a project for aerospace composite materials high-performance fiber preforms, which encompasses military applications, large aircraft, solid-state batteries, robotics, controllable nuclear fusion, and third-generation semiconductors [1]

Core Insights - In June 2025, China exported approximately 21.7GW of photovoltaic (PV) modules, a month-on-month decrease of 3% and a year-on-year decrease of 2% compared to June 2024's 22.1GW [1] - The total PV module exports from China in the first half of this year reached about 127.3GW [1] - The top five countries importing from China accounted for approximately 34% of the global market [1] Regional Market Performance - The Asia-Pacific market saw a significant decline in demand, with a month-on-month drop of 19% in June, while Europe experienced a slight decrease of 2% [1] - The Middle East market grew by about 12%, and both the Americas and Africa markets saw a small increase of around 5% [1] - Compared to the same period last year, only the African market showed a significant growth of nearly 45% [1] European Market Details - In June 2025, China exported about 9.7GW of PV modules to Europe, a 2% decrease from May but a 4% increase from June 2024's 9.3GW [1] - Cumulatively, China exported approximately 50.5GW to Europe in the first half of the year, down 7% from last year's 54.2GW [1][2] Asia-Pacific Market Insights - In June 2025, China exported around 5.4GW of PV modules to the Asia-Pacific region, a 16% decrease from May and a 10% decrease from June 2024's 6GW [2] - The total exports to the Asia-Pacific market in the first half of the year were about 42.5GW, a 5% increase from last year's 40.5GW [2] Americas Market Overview - In June 2025, China exported approximately 2.03GW of PV modules to the Americas, a slight increase of 5% from May but a 30% decrease from June 2024's 2.9GW [3] - The total exports to the Americas in the first half of the year were about 14.15GW, down 16% from last year's 16.80GW [3] Middle East Market Performance - In June 2025, China exported about 3.05GW of PV modules to the Middle East, an 18% increase from May and a 9% increase from June 2024's 2.8GW [3] - The total exports to the Middle East in the first half of the year were approximately 12.91GW, a 17% decrease from last year's 15.60GW [3] African Market Growth - In June 2025, China exported around 1.47GW of PV modules to Africa, a 5% increase from May and a 34% increase from June 2024's 1.1GW [4] - The total exports to Africa in the first half of the year reached about 7.27GW, a 45% increase from last year's 5GW [4] Market Trends and Future Outlook - The overall trend indicates that while traditional markets are becoming saturated, manufacturers are increasingly developing emerging markets, particularly in Southeast Asia and Africa [5] - The third quarter may see adjustments in export tax policies, which could slightly raise component prices and influence procurement strategies [5]

Group 1 - Goldman Sachs raised the 12-month target for the MSCI China Index from 85 to 90, indicating a potential upside of 10% to 11% from the latest closing price [2] - The MSCI China Index has increased over 25% year-to-date, with recent market conditions allowing it to break out of a trading range, reaching four-year highs [2][3] - The investment strategy has shifted towards focusing on individual stocks, with upgrades to "overweight" for the insurance and materials sectors, while maintaining caution on banks and real estate [2][3] Group 2 - The Shanghai Municipal Economic and Information Commission announced measures to support the artificial intelligence industry, including the issuance of 600 million yuan in computing power vouchers [4] - The initiative aims to reduce the cost of using intelligent computing power and support the development of large models and related applications [4][5] - A total of 300 million yuan will be allocated for model vouchers to promote the application of third-party large model APIs [4][5] Group 3 - The Ministry of Industry and Information Technology emphasized the need to enhance policies for emerging industries, including humanoid robots and the Internet of Things [7] - A new round of actions to stabilize growth in ten key industries will be implemented, focusing on the integration of culture and industry [7] - The government aims to promote the digital transformation of industries and improve the quality of industrial software and open-source systems [7] Group 4 - The solar energy sector is undergoing a "de-involution" process, with recent efforts to address below-cost sales leading to initial price stabilization in the supply chain [8] - Analysts suggest that policy support and technological advancements may accelerate supply clearing in the solar industry, providing significant valuation recovery potential [8]

Group 1 - The article highlights the importance of cooperation between China and Europe, especially in the photovoltaic sector, as both regions are significant global economic entities [1] - China has become a leader in the global photovoltaic industry, excelling in technology, production capacity, and cost efficiency, which presents a substantial opportunity for Chinese photovoltaic companies in the European market [1] - Collaboration with European firms can help Chinese companies expand their overseas markets, alleviate domestic overcapacity, and enhance their technological capabilities and brand influence [1] Group 2 - The article mentions that Europe, being a major photovoltaic market, can benefit from partnerships with Chinese companies by accessing higher quality and lower-priced photovoltaic products and technologies, thus accelerating its energy transition [1]