以最新收盘价计算，A股平均股价为13.74元，其中股价超过100元的有159只。 百元股作为判定市场热度的信号之一，历来受到投资者关注。证券时报·数据宝统计显示，截至12月9日 收盘，沪指报收3909.52点，下跌0.37%，A股平均股价为13.74元，个股股价分布看，股价超过100元的 有159只，股价在50元至100元的有431只，股价在30元至50元的有747只。 股价超百元个股中，收盘价最高的是寒武纪，今日报收1436.00元，上涨1.28%，其次是贵州茅台、源杰 科技等，最新收盘价分别为1401.01元、675.50元。 市场表现方面，收盘股价超百元股中，今日平均上涨0.55%，跑赢沪指0.92个百分点。今日上涨的有68 只，涨停的有线上线下、淳中科技等，下跌的有90只，跌幅居前的有科达利、天普股份等。 追溯发现，最新百元股近一个月平均上涨4.29%，其间沪指下跌2.20%，涨幅居前的有德科立、腾景科 技、长光华芯等，涨幅分别为76.02%、64.00%、61.39%，今年以来平均涨幅为127.51%，强于沪指 110.87%，累计涨幅居前的有上纬新材、天普股份、胜宏科技等，涨幅分别为1530.97 ...

Market Performance - The ChiNext Index rose by 0.61%, closing at 3209.60 points, with a total trading volume of 535.03 billion yuan, a decrease of 55.10 billion yuan from the previous trading day [1] - Among the tradable ChiNext stocks, 349 stocks closed higher, with 13 stocks rising over 10%, including Zhongchuang Environmental Protection and Hengxin Dongfang, while 1021 stocks closed lower [1] Turnover Rate - The average turnover rate for the ChiNext today was 3.78%, with 40 stocks having a turnover rate exceeding 20% [1] - The highest turnover rate was for Hongxiang Co., which closed up 5.60% with a turnover rate of 52.25% and a trading volume of 3.398 billion yuan [1] Sector Analysis - Among the high turnover stocks, the electronics sector had the most representation, with 10 stocks listed, followed by the computer and machinery equipment sectors with 6 and 5 stocks, respectively [2] Institutional Activity - Eight high turnover ChiNext stocks appeared on the Dragon and Tiger List, with significant institutional buying in Hengxin Dongfang and Deyi Culture, net buying amounts were 53.06 million yuan and 15.40 million yuan, respectively [3] - The top net buying stocks by brokerage firms included Shanxi Huada and Hongjing Technology, with net buying amounts of 94.66 million yuan and 87.70 million yuan, respectively [3] Capital Flow - Among high turnover stocks, 18 stocks saw net inflows from major funds, with the highest inflows in Qianzhao Optoelectronics, Hengxin Dongfang, and Hongjing Technology, with net inflows of 273 million yuan, 216 million yuan, and 210 million yuan, respectively [4] - The stock with the highest expected net profit growth for 2025 was Nannetwork Digital, with a projected net profit of 586 million yuan, representing a year-on-year increase of 2.76% [4]

证券时报·数据宝统计显示，今日可交易科创板股中，153只股收盘上涨，涨幅超过10%的有3只，涨幅 在5%至10%的有11只，收盘下跌的有436只，跌幅超10%的有2只。 科创板股换手率区间分布显示，换手率超过20%的有2只，换手率10%~20%的有14只，换手率5%~10% 的58只，换手率3%~5%的60只，换手率1%~3%的258只，换手率不足1%的有202只。 换手率最高的是C摩尔，该股为上市5日内的新股，收盘涨幅5.73%，换手率30.72%，日成交额54.78亿 元，全天主力资金净流入2.22亿元。其次是航天环宇，该股今日收盘下跌3.70%，全天换手率23.82%， 成交额9.50亿元，换手率居前的还有德科立、恒坤新材、必贝特等，换手率分别为19.94%、15.84%、 15.73%。 科创50指数今日下跌0.27%，报收1347.11点，科创板全日成交量31.74亿股，成交额1791.25亿元，加权 平均换手率为1.65%。 从杠杆资金动向看，高换手个股中，共40股近期获杠杆资金净买入，统计显示，截至12月8日，近5日融 资余额增加较多的有C摩尔、长光华芯、国盾量子等，分别增加19.81亿元、1. ...

行业日报 | 北交所 放量上涨，关注海希通讯等优质转型个股边际变化 证券研究报告 2025 年 12 月 09 日 北交所市场点评——20251208 核心结论 行情回顾：1）指数层面：12 月 8 日北证 A 股成交金额达 151.0 亿元，较上 一交易日增加 18.0 亿元，北证 50 指数收盘价为 1426.25，上涨 1.27%， PE_TTM 为 67.50 倍。北证专精特新指数收盘价为 2379.06，上涨 1.92%。 2）个股层面：当日北交所 286 家公司中 224 家上涨，6 家平盘，56 家下跌。 其中涨幅前五的个股分别为：天力复合（16.7%）、天工股份（8.0%）、纳 科诺尔（7.1%）、海希通讯（6.7%）、惠丰钻石（6.1%）；跌幅前五的个 股分别为：泓禧科技（-5.9%）、星图测控（-4.2%）、天润科技（-4.0%）、 美之高（-2.8%）、康乐卫士（-2.7%）。 新闻汇总：1）中共中央政治局召开会议分析研究 2026 年经济工作，习近平 主持会议：12 月 8 日，中共中央政治局召开会议，主要聚焦两大核心议题： 一是分析总结 2025 年及过去 5 年经济社会发展成效，明 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The equity market has supportive policies and reserved incremental funds, with expected abundant capital liquidity. In 2026, the equity market liquidity is expected to remain strongly supported due to continuous loose signals from regulatory authorities and sufficient remaining incremental funds in the market [1][8]. - The constant equity - bond ETF may inject more liquidity into the market. It has great development potential in the convertible bond market, and it is expected that in 2026, constant equity - bond ETF products will be launched more rapidly, bringing more incremental funds to both the equity and convertible bond markets [1][10][16]. 3. Summary According to the Directory 2026: A Year Still Supported by Strong Liquidity - Since the second half of 2024, with frequent capital market supportive policies, the broad - based indices of the equity market have grown steadily, and the scale of public funds under management has increased rapidly. As of the end of Q2 2025, it has increased by 10.65% compared to the same period last year. Insurance funds have also significantly increased their investment in the stock market since H2 2025 [1][8]. - The proportion of stock investment in the available funds of insurance companies is only 10%, and the margin trading balance is still in a relatively neutral range. Regulatory authorities have continuously released loose signals, indicating that the equity market liquidity will remain strongly supported in 2026 [1][8]. - The constant equity - bond ETF has shown better performance than general equity/pure - bond indices in most indicators over the past 10 years. It has great potential in the convertible bond market, and it is expected to bring more incremental funds to the market in 2026 [10][15][16]. Market Review: Convertible Bonds Rose Slightly Weekly, and Valuations Were Passively Lifted Weekly Market Conditions - Last week, major stock indices rose. The Shanghai Composite Index rose 0.37%, the Shenzhen Component Index rose 1.26%, the ChiNext Index rose 1.86%, the SSE 50 Index rose 1.09%, the CSI 1000 Index rose 0.11%, and the CSI Convertible Bond Index rose 0.08%. There are 400 issued but un - matured convertible bonds, with a balance scale of 541.56 billion yuan [17]. - In the equity market, sectors showed mixed performance. Non - ferrous metals, communication, national defense and military industry, machinery and equipment, and non - bank finance led the gains, while textile and apparel, computer, food and beverage, real estate, and media led the losses. In the convertible bond market, half of the sectors rose, with national defense and military industry, non - bank finance, petroleum and petrochemical, machinery and equipment, and electronics leading the gains [21]. Valuation Performance - The weighted average closing price of convertible bonds was 132.28 yuan, a 0.11% decrease from the previous Friday. The closing prices of equity - biased, bond - biased, and balanced convertible bonds showed different trends. The proportion of convertible bonds in the 120 - 130 (including 130) price range decreased significantly [26]. - The premium rates of convertible bonds of most ratings and scales increased. Terms and Supply: Three Convertible Bonds Announced Forced Redemption, with a Total Pending Issuance Scale of Approximately 18.3 Billion Yuan Terms - As of December 5, Limin, Xinhua, and Nenghui convertible bonds announced early redemption; Huamao, Yake, and Yong 02 convertible bonds announced no early redemption; Hugong and Shouhua convertible bonds announced that they are expected to meet the forced redemption conditions [2][49]. - Last week, no convertible bond issued a board - proposed downward revision bill announcement, and no convertible bond announced the downward revision result. Six convertible bonds announced no downward revision, and 16 convertible bonds announced that they are expected to trigger downward revision [2][49]. Primary Market - Last week, Puxin convertible bonds were issued with a scale of 243 million yuan, and no new convertible bonds were listed [3][52]. - Last week, 2 companies added board proposals, 3 companies passed the general meeting of shareholders, 2 companies passed the approval of the issuance review committee, and no new company was approved by the CSRC. Compared with the same period last year, the changes were +0, +3, +0, - 2 respectively [3][53]. - As of December 5, 6 listed companies have obtained convertible bond issuance approvals, with a proposed issuance scale of 4.475 billion yuan. 8 listed companies have passed the issuance review committee, with a total scale of 9.81 billion yuan. Last week, Zuoli Pharmaceutical and Zhongding Co., Ltd. added board proposals, with a total scale of 4.056 billion yuan [3][60].

Group 1: Economic and Industrial Trends - The core of the "14th Five-Year Plan" focuses on building a modern industrial system, emphasizing the reconstruction of high-tech industries over the next decade, particularly in areas like artificial intelligence, aerospace, and biomedicine [4][5] - The real estate market is undergoing a significant cleanup, returning to reasonable levels, with new construction and sales dropping to levels seen a decade ago, indicating a shift towards quality and sustainability in development [6][7] - The service consumption sector is identified as a key area for domestic demand growth, with current service consumption accounting for only 46.1% of household spending, significantly lower than the nearly 70% in the U.S., suggesting substantial room for expansion [7] Group 2: External Environment and Market Dynamics - The external environment is experiencing profound adjustments, with U.S.-China tech competition entering a new phase characterized by "ecological competition," which is more systematic and long-term [2][8] - The domestic industry is showing a "K-shaped" differentiation, where high-tech exports are growing while traditional labor-intensive products are declining, reflecting a structural shift in profitability among listed companies [8][9] - The trend of technology companies expanding overseas is becoming a significant growth engine, particularly in sectors like media, communications, and computing, highlighting a disparity between macroeconomic data and social sentiment [9] Group 3: Corporate Profitability and Market Outlook - Corporate profitability is showing signs of recovery, with A-share non-financial companies' revenue turning positive and net profit growth improving, indicating a shift towards asset-liability repair after a prolonged period of risk aversion [11][12] - The capital market is expected to transition from valuation-driven to performance-driven growth, with a structural bull market forming due to improving profitability and favorable internal and external conditions [12] - A potential super cycle for commodities is anticipated, with current commodity prices at historically low levels compared to U.S. equities, suggesting a forthcoming significant and sustained increase in prices [12]

Core Viewpoint - Shanghai Weian Electronics Co., Ltd. (hereinafter referred to as "Weian" or "the company") has restarted its IPO counseling process with the intention to list on the A-share market after previously withdrawing its application due to market conditions [1][2]. Company Overview - Weian was established on May 2, 1996, with a registered capital of 63.822523 million yuan, and is primarily engaged in the research, production, and sales of electronic components, power semiconductor discrete devices, and analog integrated circuits [2]. - The company is controlled by Shanghai Materials Research Institute, which holds a 35.31% stake [1]. Financial Performance - In terms of financials, Weian's total assets increased from 731.00 million yuan in 2020 to 988.33 million yuan in 2022 [3]. - The company's operating revenue rose from 784 million yuan in 2020 to 1.188 billion yuan in 2022, while net profit increased from 79.10 million yuan to 126.85 million yuan during the same period [3]. - The net profit attributable to the parent company was 126.85 million yuan in 2022, with a basic and diluted earnings per share of 1.99 yuan [3]. - The company's R&D investment as a percentage of operating revenue was 8.96% in 2022, up from 7.75% in 2020 [3]. IPO Process - Weian had previously applied for an IPO on the Shanghai Stock Exchange in June 2023 but withdrew the application due to changes in market conditions. The Shanghai Stock Exchange decided to terminate the review of the company's IPO application in January 2025 [1][2]. - The current IPO counseling is being conducted by CITIC Securities, with the accounting firm being Lixin Certified Public Accountants and the legal firm being Shanghai Guangfa Law Firm, all of which were involved in the previous IPO attempt [2].

今日早盘，成长风格再度走强，价值风格相对承压。指数层面，国证成长100指数上涨2.9%、有望实现"四连阳"，国证价值100指数下跌1.3%，国证自由现 金流指数下跌1.4%。 国证成长100指数聚焦A股成长风格突出的股票，紧扣经济转型脉搏，当前指数超七成权重集中于电子、通信、计算机板块，精准卡位AI算力核心环节，结 构锐度突出。成长ETF（159259）是市场唯一跟踪该指数的产品，可助力投资者把握成长风格投资机遇。 每日经济新闻 ...

今日早盘，AI产业链题材股局部活跃，CPO、英伟达产业链等概念强势领涨。截至午间收盘，中证人工智能主题指数上涨1.9%，上证科创板人工智能指数 下跌0.3%，相关ETF交投活跃，人工智能ETF（159819）半日成交额近8亿元。 | 该指数覆盖A股人工智能产 | | | | --- | --- | --- | | 业链龙头,由市场中50只 | 截至午间收盘 | 该指数 该指数自2 | | 市值较大且业务涉及人工 | 该指数涨跌 | 滚动市销率 发布以来估 | | 智能基础资源、技术以及 | | | | 应用支持的股票组成，计 | 1.9% | 4.9倍 95.50 | | 算机、电子、通信行业合 | | | | 计占比约90%。 | | | 东吴证券表示，当前AI发展进程主要依赖大模型驱动全球加速演进，中美作为AI产业的头部集中区域，企业均在加码布局基础设施和硬件建设，全球AI产 业规模将快速突破，AI有望引领全球创新产业共振。 每日经济新闻 ...

国家知识产权局信息显示，京东方科技集团股份有限公司取得一项名为"显示基板及显示装置"的专利， 授权公告号CN119894269B，申请日期为2025年2月。 天眼查资料显示，京东方科技集团股份有限公司，成立于1993年，位于北京市，是一家以从事计算机、 通信和其他电子设备制造业为主的企业。企业注册资本3741388.0464万人民币。通过天眼查大数据分 析，京东方科技集团股份有限公司共对外投资了73家企业，参与招投标项目292次，财产线索方面有商 标信息776条，专利信息5000条，此外企业还拥有行政许可47个。 成都京东方光电科技有限公司，成立于2007年，位于成都市，是一家以从事仪器仪表制造业为主的企 业。企业注册资本2500000万人民币。通过天眼查大数据分析，成都京东方光电科技有限公司参与招投 标项目908次，专利信息5000条，此外企业还拥有行政许可519个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 ...