| 排序 | 公司简称 | 被私募调研次 数 | 5月涨跌幅(%) | | 季度持有 持有流通股数 机构持有流通股 | | 所属方向/板块 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 的机构数 | (万股) | 市值(万元 | | | 1 | 菜绅通灵 | 5 | 67.81 | 6 | 6303.03 | 41284.82 | 饰品 | | 2 | 曼卡龙 | 3 | 45.48 | 9 | 11026.41 | 131986.07 | 谷子经济、饰品 | | 3 | 潮宏基 | 3 | 45.30 | 29 | 44106.18 | 358583.23 | 盲盒经济、饰品 | | ব | | 7 | 44.16 | 3 | 514.83 | 12175.85 | 宠物经济 | | 5 | | 1 | 34.78 | 3 | 5826.66 | 83146.44 | 为泡泡玛特提供 产品设计服务 | | | 烦请扫码 | 1 | 30.36 | 3 | 25492.89 | 354606.15 | 饮料乳品 | | | | 15 ...

证券研究报告 策略 TMT 和先进制造景气回升 华泰研究 2025 年 6 月 12 日│中国内地 策略月报 核心观点 我们的中观景气模型显示，5 月全行业景气指数小幅回落，但下行斜率放缓。 分板块看，大金融、TMT、先进制造景气明显回升，景气改善或有一定持续 性的品种包括：1）TMT：AI 产业趋势方兴未艾，元件-存储链、通信设备、 游戏（新增）景气爬坡，软件景气筑底；2）制造：部分先进制造产能出清 或准出清，且需求有企稳迹象，如通用、自动化景气爬坡，风电、光伏、航 空装备景气回升；3）消费：新消费和大众品率先改善，美护、饰品（新增） 景气爬坡，啤酒（新增）、调味品、乳制品景气回升；4）其它：医药（投融 资周期回暖）、保险（新增）、电力（新增）景气回升，贵金属维持高位。 TMT：元件-存储链、通信设备、游戏景气爬坡，软件景气筑底 AI Agent 渗透率处于"奇点时刻"，海外 AI 资本开支有韧性，大模型迭代等 产业催化密集：1）元件-存储链：上游 PCB 台股 4 月营收同比增速回升； 中游 DXI 指数同比增速连续 3 个月回升，DRAM 价格同比降幅收窄，存储 周期有企稳回升迹象；2）通信设备：4 月 ...

A股饰品板块异动拉升，老凤祥封板涨停，曼卡龙、新华锦、萃华珠宝、迪阿股份、莱绅通灵等跟涨。 ...

饰品板块短线拉升，老凤祥（600612）涨停，曼卡龙（300945）、新华锦（600735）、萃华珠宝 （002731）、迪阿股份（301177）、莱绅通灵（603900）等纷纷走高。 这几只票暗盘资金正在偷偷流入，立即查看>> ...

Group 1 - The public fund industry continues to focus on high-intensity research, particularly in hard technology and pharmaceuticals, with 123 public fund institutions conducting 662 research sessions on 112 A-shares in the first week of June [1] - The optical and optoelectronic industry, represented by Hongjing Optoelectronics (301479), received the most attention, with over 20% of public fund institutions participating in 36 research sessions [1] - A total of 22 secondary industries received at least 10 research sessions, indicating a concentrated interest in specific sectors [1] Group 2 - The optical and optoelectronic industry had the highest research activity, with 7 stocks collectively receiving 72 sessions, followed by the chemical pharmaceutical industry with 59 sessions across 6 stocks [2] - The jewelry industry saw a notable increase in attention, with companies like Cuihua Jewelry and Mankalon receiving a total of 46 research sessions [2] - Public fund institutions are increasingly focusing on technology, pharmaceuticals, and consumer upgrades, reflecting current market conditions [2] Group 3 - Yifan Pharmaceutical (002019) discussed its innovative drug development during institutional research, emphasizing the importance of cautious and rational approaches to R&D, particularly for First-in-Class (FIC) drugs [3] - The company is prioritizing the development of its drug F-652 for alcohol-related liver disease in collaboration with U.S. research institutions, while also evaluating risks and opportunities [3] - Yifan Pharmaceutical is also advancing early-stage products like IL-15 fusion protein, which are still in the early research phase [3]

Core Viewpoint - In May, the A-share market showed a fluctuating recovery trend, with the Shanghai Composite Index and ChiNext Index rising over 2% and the Shenzhen Component Index rising over 1% [2] Group 1: Market Performance - In May, 325 out of 494 surveyed A-share companies saw an increase in their stock prices, accounting for 65.79% [2] - The private equity firms conducted a total of 2,544 surveys across 876 companies during May [2] Group 2: Sector Focus - The semiconductor and medical device sectors were among the most surveyed, with over 100 surveys each [3] - A total of 10 sectors, including semiconductor, medical devices, and chemical pharmaceuticals, were in the top 10 for survey frequency [5] Group 3: Company Performance - The average stock price change for surveyed companies in the semiconductor sector was -4.65%, while the medical device sector saw an average increase of 5.02% [5] - In May, 7 sectors experienced stock price increases, with the general equipment sector leading at 9% [5] Group 4: Notable Companies - Henglianda had the highest survey frequency at 44 times, with a stock price increase of nearly 90% in May [9] - Among the 494 surveyed companies, 70 were surveyed at least 10 times, and 25 were surveyed at least 20 times [6] Group 5: New Consumption Sector - 26 new consumption-related A-share companies were identified, with 25 of them experiencing stock price increases in May [12][13] - Lai Shen Tong Ling, a jewelry company, was surveyed 5 times and saw a stock price increase of 67.81% [12] Group 6: Private Equity Activity - 124 private equity firms conducted more than 5 surveys, with 48 firms conducting over 10 surveys [15] - Zhengyuan Investment and Panjing Investment were among the top private equity firms in terms of survey frequency [16]

黄金行情爆发中，一键布局买入黄金等避险资产>>> 饰品板块直线拉升，曼卡龙（300945）涨超10%，菜百股份（605599）、明牌珠宝（002574）、莱绅通 灵（603900）、新华锦（600735）、潮宏基（002345）等跟涨。 ...

Market Overview - A-shares experienced a "good start" in June, with major indices rebounding on June 3, including a 0.43% increase in the Shanghai Composite Index and a 1.03% rise in the North Star 50 Index, with a total market turnover of 11,638 billion yuan, a decrease of 4 billion yuan from the previous trading day [2] - Nearly 3,400 stocks in the market rose, with sectors such as precious metals, football concepts, gaming, banking, and innovative pharmaceuticals leading the gains [2] New Consumption Sector - The new consumption concept saw a collective surge, with significant increases in stocks related to gold, beauty, and pet economy, including a limit-up for Ruoyuchen and a more than 14% rise for Wancheng Group, both reaching historical highs [3] - The Hong Kong stock market's "new consumption trio" also rose, with Pop Mart's total market value returning to 310 billion HKD, and stocks like Mixue Group and Laopu Gold continuing to set historical highs [3] Innovative Pharmaceuticals - Innovative pharmaceutical stocks remained active, with Shutaishen's stock hitting a limit-up of 20%, accumulating a total increase of 188.04% since May 20 [3] - Shutaishen announced that its subsidiary received a notice from the National Medical Products Administration regarding the acceptance of its application for conditional approval for the drug "STSP-0601," which is intended for rapid hemostasis in adult patients with hemophilia A or B [3][4] Market Sentiment and Future Outlook - Citic Securities indicated that the market may have upward potential due to improved industrial profits and effective consumer incentive policies, supporting downstream consumption growth [7] - Huashan Securities noted that the market may shift focus to potential policy directions, with expectations of export recovery and subsequent policy actions providing upward opportunities, although sustained upward movement requires clear policy support or fundamental improvements [7][8] Stock Performance Highlights - Yiyang Health, known as the "first stock of room temperature lactic acid bacteria," experienced a "limit-up" trend, achieving five limit-ups in six days, with a turnover exceeding 800 million yuan [5] - Hexing Co. also saw a "limit-up" performance, with its stock price rising from a limit-down to a limit-up within 11 minutes of trading, and a turnover exceeding 300 million yuan [5][6]

Group 1 - The jewelry sector has seen a significant rise, with companies such as Mingpai Jewelry (002574) and Laishen Tongling (603900) reaching their daily limit increase [1] - Other companies in the jewelry sector, including Mankalon (300945), Cuihua Jewelry (002731), Feiyada (000026), Xinhua Jin (600735), and Shen Zhonghua A (000017), have also experienced notable gains [1]

Group 1 - The jewelry sector has seen a short-term surge, with companies like Laishentongling (603900) achieving three consecutive trading limits, and other companies such as Mingpai Jewelry (002574), Cuihua Jewelry (002731), Feiyada (000026), Shen Zhonghua A (000017), and Xinhua Jin (600735) also experiencing gains [1] - The spot gold price has continued to rise, surpassing $3,340 per ounce, marking a new high since May 9, with a daily increase of 0.74% [1]