多图速览>> 本周（7月28日到8月1日）的五个交易日中，A股三大指数均回调，沪指累计下跌0.94%，深证成指累计跌1.58%，创业板指累计跌0.74%。从板块、概念看， 医药股本周表现强势，AI应用、电子、光伏、固态电池活跃。 | 指数 | 周五涨跌幅 | | 周五收盘点数 周五成交额 (亿元) | 近一周 | | --- | --- | --- | --- | --- | | 上证指数 | -0.37% | 3560 | 6846 | -0 | | 深证成指 | -0.17% | 10991 | 9137 | -1 | | 北班50 | -0.23% | 1420 | 217 | -2 | | 科创50 | -1.06% | 1037 | 330 | -1 | | 创业板指 | -0.24% | 2323 | 4653 | -0 | | 下班50 | -0.79% | 2754 | 941 | -1 | | 沪深300 | -0.51% | 4055 | 3597 | -1 | ►牛熊股：这只创新药概念股领涨，50股跌超10% 消息面上，南新制药30日发布公告称，公司近期正在筹划购买某一国内药品技术等资产 ...

央行：继续实施好适度宽松的货币政策 8月1日，中国人民银行召开2025年下半年工作会议暨常态长效推动中央巡视整改工作推进会。总结2025年以来工作，分析当前金融形 势，部署下一阶段工作。 会议要求，一是继续实施好适度宽松的货币政策。综合运用多种货币政策工具，保持流动性充裕，引导金融机构保持信贷合理增长，使 社会融资规模、货币供应量增长同经济增长和价格总水平预期目标相匹配。抓好各项货币政策措施的执行，畅通货币政策传导，提升货 币政策实施效果。盘活存量，用好增量，提高资金使用效率。强化利率政策执行和监督。保持汇率弹性，强化预期引导，防范汇率超调 风险。 二是突出服务实体经济重点方向。做好金融"五篇大文章"，指导金融机构提升金融服务专业化精细化水平。用好科技创新和技术改造再 贷款政策，推动科技型中小企业贷款较快增长，加大"两重""两新"等重点领域的融资支持力度。支持化解重点产业结构性矛盾，促进产 业提质升级。合理保障外贸企业融资需求。加强应收账款电子凭证业务监管与风险防范。 三是防范化解重点领域金融风险。持续做好金融支持地方政府融资平台化债工作。有序推进重点地区和机构风险处置。进一步加强风险 监测评估和宏观审慎管理 ...

Summary of Key Points Group 1: Unlocking Scale and Impact - In August, 112 listed companies in A-shares will face unlocking, with a total market value of 517.205 billion yuan, significantly higher than the unlocking values of June and July, which did not exceed 290 billion yuan [1][2] - The unlocking value in August is the highest for the remaining months of the year, with September, October, November, and December estimated at approximately 284.1 billion yuan, 364.6 billion yuan, 148.3 billion yuan, and 384.2 billion yuan respectively [1] - The major contributor to the unlocking scale is Haiguang Information, with an unlocking value of 198.054 billion yuan, accounting for 38.3% of the total unlocking value for the month [1][2] Group 2: Significant Companies and Their Unlocking Values - Among the 112 companies, 50 have unlocking values exceeding 1 billion yuan, with Haiguang Information, Runze Technology, and United Imaging Medical leading the way [2] - The total unlocking value of the top seven companies, including Xugong Machinery and Dazhu CNC, exceeds 366.6 billion yuan, representing 70.88% of the total unlocking for August [2] - Xugong Machinery has the highest unlocking quantity at 3.569 billion shares, which is 30.37% of its total share capital, with a current unlocking yield of 68.7% [2][3] Group 3: High Unlocking Ratios and Their Implications - A significant number of companies have a high proportion of unlocking shares, with 35 companies having unlocking ratios exceeding 30%, and 13 companies exceeding 60% [3] - Dazhu CNC has the highest unlocking ratio at 84.39%, followed by Hualan Vaccine at 76.37% [3] - Haiguang Information's unlocking includes 1.438 billion shares, which is 61.85% of its total share capital, marking the first unlocking of original shareholders' restricted shares since its IPO [3] Group 4: Performance of Specific Stocks - Kema Technology has the highest unlocking yield at 575.5%, with a total unlocking of 86.5827 million shares valued at 4.679 billion yuan [4] - Other semiconductor companies like GeKongwei and Jiangbolong also have unlocking values exceeding 10 billion yuan, with Jiangbolong unlocking 1.55 billion shares valued at 13.6 billion yuan [4] - The unlocking of shares from strategic placement shareholders in Kema Technology includes significant holdings from companies like Zhongwei and Tuojing Technology [4] Group 5: Trends in Financing and Market Performance - Among the 18 stocks with unlocking shares from private placements, 14 have positive yields, with Runze Technology, Leshan Power, and Nanya New Materials leading with yields of 384.56%, 170.06%, and 215.27% respectively [6] - Runze Technology's stock price has increased by 114% since 2022, with a significant unlocking of 1.075 billion shares valued at 51.8 billion yuan [6] - The semiconductor sector is experiencing heightened interest, with several companies seeing substantial stock price increases due to market trends [6][7]

Group 1: Compliance Ecosystem Development - The development model of "compliance operation and honest taxation" is gaining momentum in Qiannan Prefecture, driven by local tax authorities' initiatives [1][2] - The "benchmark leading and point-to-surface" compliance promotion model has been implemented, focusing on different industry characteristics to instill compliance concepts across various sectors [1][2] Group 2: Industry Cluster Compliance - Guizhou Yonghong Heat Exchange Co., Ltd. has established a "chain-style" compliance ecosystem by attracting 14 related enterprises to the Huishui Mingtian Technology Park, enhancing compliance standards across the industry cluster [2][3] - The industrial cluster effect has not only filled key gaps in the regional industrial chain but also created stable employment for over 1,000 people in surrounding towns [2] Group 3: Tax Compliance in Food Processing - Miaoguniang Group, a representative enterprise in the food processing industry, has improved its tax compliance management through targeted guidance from the local tax bureau, becoming a model for tax compliance in the county [5][6] - The local tax bureau has formed a special service team to track the entire process from raw material procurement to product delivery, identifying and addressing tax management issues [5][6] Group 4: Forestry Industry Compliance - The local tax bureau has established a special working group to guide forestry enterprises like Guizhou Shengjia Wood Industry Co., Ltd. in compliance management, addressing common issues such as invoice management and tax declaration [7][8] - The guidance provided has led to a positive ripple effect, promoting compliance practices across the entire forestry industry in the region [8]

Group 1 - The core viewpoint of the articles highlights the increasing demand for talent in the private sector of Liaoning Province, with private enterprises accounting for nearly 90% of the total talent needs [1][2] - As of the end of June, 5,138 enterprises and institutions in Liaoning reported a total of 20,764 talent demand entries, indicating a robust growth in talent needs from private companies [1] - In the second quarter, 4,534 private enterprises expressed talent needs, representing 89.71% of all reporting companies, an increase of 1.08 percentage points from the first quarter [1] Group 2 - The demand for talent is concentrated in four trillion-level industrial bases and 22 key industrial clusters, with a focus on modern livestock and related industries showing rapid growth [1] - The top three industries in terms of talent demand are raw materials industry, high-end equipment manufacturing, and agriculture, collectively accounting for 35.03% of total enterprise demand [2] - Mechanical manufacturing positions continue to lead the demand rankings, with mechanical/manufacturing roles and automation majors being the most sought-after for six consecutive quarters starting from Q1 2024 [2]

Group 1 - The company plans to repurchase shares through a centralized bidding process, with the aim of using the repurchased shares for employee stock ownership plans or equity incentives [2][4] - The total amount allocated for the share repurchase is between RMB 30 million and RMB 50 million, utilizing the company's own funds and bank loans [2][5] - As of July 31, 2025, the company has repurchased a total of 1,312,500 shares, representing 0.5516% of the total share capital, with a total expenditure of approximately RMB 16.40 million [5] Group 2 - The company will continue to make repurchase decisions based on market conditions and will fulfill its information disclosure obligations in a timely manner [6]

Monetary Policy and Financial Support - The central bank will continue to implement a moderately loose monetary policy and promote rapid growth in loans to technology-oriented small and medium-sized enterprises, increasing financing support for key areas such as "two new" and "two heavy" [1] Taxation Changes - Starting from August 8, 2025, the Ministry of Finance and the State Taxation Administration will reinstate value-added tax on interest income from newly issued national bonds, local government bonds, and financial bonds [2] Infrastructure Development - Shanghai aims to establish at least five large-scale computing centers by the end of 2025, with a target computing power scale of over 100 EFLOPS (FP16) [3] Pharmaceutical Industry Insights - The Anhui Province centralized procurement platform has initiated market information collection for biological agents. Experts believe that the collective procurement of biological drugs cannot be directly compared to that of generic drugs, indicating significant flexibility in the pace of advancement and future price reductions [4] Company Performance - Shihua Machinery's independent director Zhou Jingping is under investigation [5] - Hikvision reported a year-on-year net profit increase of 11.71% in the first half of the year [5] - Ninebot Company achieved a net profit of 1.242 billion yuan in the first half of the year, a year-on-year increase of 108% [5] - BYD's automobile sales in July reached 344,296 units, a month-on-month decrease of 8.8% [5] - Luzhou Laojiao announced a dividend of 45.92 yuan per 10 shares for the 2024 fiscal year [5] - InnoCare responded to its collaboration with NVIDIA, stating that it is in the testing phase with no substantial orders yet [5]

智通财经APP讯，潍柴动力(02338)公布，截至2025年7月31日，公司通过回购专用证券账户以集中竞价 交易方式累计回购A股股份共计19,685,475股，占公司目前总股本的比例约为0.23%，最高成交价为人民 币15.43元/股，最低成交价为人民币 15.05元/股，支付的总金额为人民币299,979,726.55元(不含交易费 用)，本次回购符合相关法律法规及公司既定回购股份方案的要求。 ...

拓山重工今日下跌8.15%，全天换手率21.51%，成交额2.76亿元，振幅6.08%。龙虎榜数据显示，营业部 席位合计净买入364.75万元。 深交所公开信息显示，当日该股因日跌幅偏离值达-8.17%上榜，营业部席位合计净买入364.75万元。 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 华泰证券股份有限公司江阴福泰路证券营业部 | 813.27 | 19.75 | | 买二 | 国信证券股份有限公司浙江互联网分公司 | 379.45 | 391.10 | | 买三 | 招商证券股份有限公司上海牡丹江路证券营业部 | 321.42 | 367.48 | | 买四 | 东方财富证券股份有限公司拉萨东环路第一证券营业部 | 307.68 | 313.71 | | 买五 | 东方财富证券股份有限公司拉萨团结路第一证券营业部 | 295.03 | 317.28 | | 卖一 | 国信证券股份有限公司浙江互联网分公司 | 379.45 | 391.10 | | 卖二 | 东方财富证券股份有限 ...

Overall Inventory Cycle - In May, the total inventory in the U.S. increased by 2.62% year-on-year, down from 3.15% in the previous period[12] - Sales in May rose by 3.30% year-on-year, compared to 3.68% previously[12] - The U.S. is confirmed to be entering an active destocking phase, with a significant import surge occurring from November 2024 to March 2025[12] - A brief replenishment demand is expected in June and July, after which active destocking will continue[12] Industry Inventory Cycle - Six out of fourteen major industries are in active destocking as of May, including oil, gas, chemicals, transportation, automotive parts, textiles, and food[19] - The historical percentile for overall inventory in May is 32.4%, with construction materials at 83.6% and chemicals at 69.3%[19] - The first round of excess imports is estimated at $180 billion and the second at $100 billion, totaling $280 billion, which may be exhausted by November[12] - Recent rapid declines in copper prices are attributed to a 50% tariff on copper products while exempting raw materials, disrupting supply and demand dynamics[13] Risk Factors - The potential for U.S. economic fundamentals and policies to exceed expectations poses a risk to inventory and pricing stability[8]