Market Overview - On July 7, the Shanghai Composite Index rose by 0.02%, while the CSI 300 fell by 0.43%, the STAR Market 50 dropped by 0.66%, the CSI 1000 increased by 0.24%, and the ChiNext Index decreased by 1.21%. The Hang Seng Index also fell by 0.12% [4]. - The best-performing industries on July 7 were comprehensive (+2.57%), utilities (+1.87%), real estate (+1.68%), light industry manufacturing (+1.52%), and environmental protection (+1.1%). The worst-performing industries included coal (-2.04%), pharmaceuticals and biology (-0.97%), telecommunications (-0.77%), home appliances (-0.7%), and electronics (-0.67%) [4]. - The total trading volume for the entire A-share market on July 7 was 1,227.1 billion yuan, with net inflow from southbound funds amounting to 12.067 billion Hong Kong dollars [4]. Key Insights Light Industry Manufacturing - The report emphasizes a trend in consumer growth industries, advocating for a balanced investment in value stocks [5]. - The market outlook indicates that the first half of 2025 saw insufficient national subsidies and weak overall consumption, leading to a structural growth in "new" consumption [5]. - The underlying logic of "new" consumption is attributed to generational shifts and changes in consumer attitudes during the economic transition period. Despite full pricing, mid-term performance growth is expected to digest valuations, making the second half of the year a clear investment focus for the sector [5]. - Key drivers include the sustained prosperity of new consumption and the performance turning point for traditional consumption [5]. - Recommendations include focusing on growth in consumer experience and prioritizing quality manufacturing stocks that have solidified their bottom lines [5]. Strategy Insights - The report projects that in Q3 2025, the domestic equity market may be dominated by local factors, suggesting banks as a stable investment while recommending balanced allocations in brokerage, military industry, and TMT sectors [6]. - The report notes a potential slowdown in the global trend of "de-dollarization" and emphasizes the need for rebalancing in dollar asset allocations. It suggests that U.S. stocks may show resilience beyond expectations, although caution is advised regarding potential inflationary pressures [6]. - Key factors to monitor include the expiration of the 90-day tariff exemption on China by the U.S. in mid-August and the earnings reports of U.S. stocks for Q2 2025 [7]. - The report highlights that the current dollar is likely entering a prolonged downtrend, with U.S. Treasury rates expected to remain high and volatile in Q3 2025 [7].

Investment Rating - The industry investment rating is positive, indicating a favorable outlook for the sector, with a focus on companies with stable performance and reasonable valuations [35]. Core Insights - The report highlights that the North Exchange 50 Index experienced a slight decline of 1.71% this week, closing at 1415.04 points, while the average market capitalization of A-share constituent stocks is 3.083 billion [5][11]. - The report emphasizes the importance of focusing on quality stocks with stable growth and reasonable valuations in the North Exchange, particularly in the context of the 2025 investment landscape [5]. Summary by Sections Overall Market Overview - As of July 4, 2025, the North Exchange A-share market consists of 268 stocks, with an average market capitalization of 3.083 billion. The North Exchange 50 Index saw a decline of 1.71% this week, while the Shanghai and Shenzhen 300 Index increased by 1.54% [5][11]. - The average daily trading volume for the North Exchange 50 was 27.983 billion, down 17.81% from the previous week, with a turnover rate of 3.18% [5][24]. Stock and Industry Performance - In the past week, 50 stocks increased in value, while 217 stocks decreased, resulting in an increase ratio of 18.66%, which is a decrease of 74.63 percentage points week-on-week [17]. - The top five performing industries were Beauty Care (8.60%), Light Industry Manufacturing (1.9%), Pharmaceutical Biology (1.57%), Transportation (0.60%), and Environmental Protection (0.47%). Conversely, the bottom five industries included Electronics (-4.86%), Automotive (-4.58%), Communications (-3.92%), Media (-3.88%), and Public Utilities (-3.22%) [19][22]. New Stock Updates - No new stocks were listed on the North Exchange this week, but one company, Jinhua New Materials, passed the review for listing, while another, Beikang Testing, is scheduled for review next week [28][29]. Key Companies and Earnings Forecast - The report identifies key companies to watch, including: - Tongli Co., Ltd. (stock code: 834599.BJ) with a buy rating and an expected EPS of 1.99 for 2025 [6]. - Wuxin Tunnel Equipment (stock code: 835174.BJ) also rated as buy with an expected EPS of 1.64 for 2025 [6]. - Kaide Quartz (stock code: 835179.BJ) rated as hold with an expected EPS of 1.03 for 2025 [6]. - Hualing Co., Ltd. (stock code: 430139.BJ) rated as hold with an expected EPS of 0.34 for 2025 [6]. - Hengtou Open Source (stock code: 834415.BJ) rated as hold with an expected EPS of 0.22 for 2025 [6]. - Tianli Composite (stock code: 873576.BJ) rated as buy with an expected EPS of 1.03 for 2025 [6].

沪指7月7日上涨0.02%，申万所属行业中，今日上涨的有18个，涨幅居前的行业为综合、公用事业，涨 幅分别为2.57%、1.87%。美容护理行业今日上涨0.46%。跌幅居前的行业为煤炭、医药生物，跌幅分别 为2.04%、0.97%。 | 603630 | 拉芳家化 | -0.71 | 2.17 | -624.78 | | --- | --- | --- | --- | --- | | 300886 | 华业香料 | -0.54 | 6.21 | -630.11 | | 600249 | 两面针 | -1.00 | 3.57 | -634.92 | | 603238 | 诺邦股份 | 3.78 | 3.27 | -696.55 | | 300849 | 锦盛新材 | -0.31 | 3.91 | -981.03 | | 300896 | 爱美客 | -0.97 | 1.06 | -1378.83 | | 300740 | 水羊股份 | -1.57 | 3.34 | -2057.25 | （文章来源：证券时报网） 资金面上看，两市主力资金全天净流出143.37亿元，今日有10个行业主力资金净流入，轻工制造行业主 ...

7月7日，沪指上涨0.02%，深成指下跌0.70%，创业板指下跌1.21%，沪深300指数下跌0.43%。可交易A 股中，上涨的有3255只，占比60.24%，下跌的1978只。 资金面上，今日主力资金全天净流出143.37亿元，已连续8个交易日资金呈净流出状态。其中，创业板 主力资金净流出84.04亿元；科创板主力资金净流出13.75亿元；沪深300成份股主力资金净流出56.88亿 元。 分行业来看，申万所属的一级行业中，今日上涨的有18个，涨幅居前的行业为综合、公用事业，涨幅为 2.57%、1.87%。跌幅居前的行业为煤炭、医药生物，跌幅为2.04%、0.97%。 今日各行业资金流向 | 行业 | 日涨跌幅（%） | 资金流向（亿元） | 行业 | 日涨跌幅（%） | 资金流向（亿元） | | --- | --- | --- | --- | --- | --- | | 轻工制造 | 1.52 | 9.30 | 国防军工 | 0.09 | -1.81 | | 房地产 | 1.68 | 9.17 | 汽车 | -0.11 | -1.93 | | 美容护理 | 0.46 | 6.54 | 环保 | 1.10 | ...

Core Insights - The main point of the article is the analysis of capital flow across various industries, highlighting significant net inflows and outflows of funds in today's market [1] Industry Summary - The industry with the largest net capital inflow is Light Industry Manufacturing, with a net inflow of 930 million yuan and a price change of 1.52% [1] - Real Estate follows closely with a net inflow of 917 million yuan and a price change of 1.68% [1] - The industry experiencing the largest net capital outflow is Electronics, with a net outflow of 4.475 billion yuan and a price change of -0.67% [1] - Other notable industries with significant net inflows include Beauty Care (654 million yuan) and Banking (461 million yuan) [1] - Industries with substantial net outflows include Medical Biology (3.430 billion yuan), Computer (1.918 billion yuan), and Communication (239.9 million yuan) [1]

涨停股中，*ST国华、ST金鸿等10只股为ST股。连续涨停天数看，*ST亚振已连收7个涨停板，连续涨 停板数量最多。从收盘涨停板封单量来看，华银电力最受资金追捧，收盘涨停板封单有4153.28万股， 其次是韶能股份、金一文化等，涨停板封单分别有4064.75万股、3886.70万股。以封单金额计算，国投 中鲁、华银电力、韶能股份等涨停板封单资金较多，分别有3.94亿元、2.78亿元、2.49亿元。（数据 宝） 两市涨停股一览 | 002052 | 同洲电子 | 12.42 | 8.37 | 294.63 | 3659.30 | 家用电器 | | --- | --- | --- | --- | --- | --- | --- | | 603256 | 宏和科技 | 20.25 | 5.82 | 170.42 | 3451.01 | 建筑材料 | | 605500 | 森林包装 | 9.97 | 11.70 | 317.37 | 3164.23 | 轻工制造 | | 603822 | 嘉澳环保 | 57.16 | 6.14 | 51.74 | 2957.46 | 基础化工 | | 603976 | 正川股份 | ...

证券时报·数据宝统计，截至下午13:58，今日沪指涨0.01%，A股成交量812.25亿股，成交金额9750.46亿 元，比上一个交易日减少16.04%。个股方面，3086只个股上涨，其中涨停66只，2117只个股下跌，其 中跌停2只。从申万行业来看，综合、房地产、轻工制造等涨幅最大，涨幅分别为2.15%、1.77%、 1.59%；煤炭、医药生物、通信等跌幅最大，跌幅分别为3.78%、0.91%、0.72%。（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） | 石油石化 | | | | 中曼石油 | | | --- | --- | --- | --- | --- | --- | | 通信 | -0.72 | 473.23 | -16.03 | 有方科技 | -11.95 | | 医药生物 | -0.91 | 890.55 | -8.56 | 科兴制药 | -14.75 | | 煤炭 | -3.78 | 62.77 | -2.84 | 中国神华 | -2.94 | 今日各行业表现（截至下午13:58） | 申万行业 | 行业涨跌（%） | 成交额（亿元） | 比 ...

（原标题：7月4日银行、电子、有色金属等行业融资净卖出额居前） 7月4日各行业融资余额环比变动 截至7月4日，市场最新融资余额为18400.47亿元，较上个交易日环比减少63.41亿元，分行业统计，申万 所属一级行业有4个行业融资余额增加，建筑材料行业融资余额增加最多，较上一日增加7245.14万元； 融资余额增加居前的行业还有轻工制造、房地产、美容护理等，融资余额分别增加6795.96万元、 4768.47万元、2216.16万元；融资余额减少的行业有27个，银行、电子、有色金属等行业融资余额减少 较多，分别减少7.24亿元、5.67亿元、5.22亿元。 以幅度进行统计，建筑材料行业融资余额增幅最高，最新融资余额为118.18亿元，环比增长0.62%，其 次是轻工制造、美容护理、房地产行业，环比增幅分别为0.52%、0.36%、0.16%；融资余额环比降幅居 前的行业有银行、钢铁、通信等，最新融资余额分别有563.91亿元、143.13亿元、629.66亿元，分别下 降1.27%、0.91%、0.78%。（数据宝） 代码 最新融资 余额（亿元） 较上一日增减（亿元） 环比增幅（%） 建筑材料 118.18 ...

报告要点： 2025 年 7 月 4 日 A 股冲高回落，大金融领涨。上证指数上涨 0.32%，深 证成指下跌 0.25%，创业板指下跌 0.36%。市场成交额 14283.65 亿元，较上 一交易日增加 1187.78 亿元。全市场 1197 只个股上涨，4160 只个股下跌。 风格上看，各指数涨跌幅排序为：金融>稳定>消费>0>成长>周期；大盘 价值>小盘价值>大盘成长>中盘价值>中盘成长>小盘成长；基金重仓表现优 于中证全指。 分行业看，30 个中信一级行业涨跌互现；表现相对靠前的是：银行 （1.85%），综合金融（1.13%），传媒（0.72%）；表现相对靠后的是：有色金 属（-1.49%），基础化工（-1.38%），轻工制造（-1.14%）。概念板块方面， 多数概念板块下跌，重组蛋白、昨日涨停、退税商店等大幅上涨；噪声防 治、昨日触板、电子烟等大幅走低。 证券研究报告 9[Table_Title] 每日复盘 2025 年 7 月 4 日 2025 年 7 月 4 日 A 股冲高回落，大金融领涨 资金筹码方面，主力资金 7 月 4 日净流出 336.46 亿元。其中超大单净流 出 118.79 亿元， ...

| 家用电 | 15.88 | -2.77 | 2.07 | 0.03 | -3.89 | | --- | --- | --- | --- | --- | --- | | 器 | | | | | | | 社会服 | 13.50 | 11.98 | 2.99 | -0.20 | -4.08 | | 务 | | | | | | | 环保 | 18.96 | 11.58 | 2.12 | -1.03 | -4.59 | | 医药生 物 | 68.04 | -1.48 | 2.49 | 0.39 | -5.73 | | 通信 | 32.51 | 17.15 | 1.87 | -0.85 | -15.10 | | 汽车 | 45.27 | -0.21 | 2.09 | -0.53 | -17.97 | | 基础化 工 | 71.27 | 1.70 | 2.66 | -1.22 | -21.74 | | 机械设 | 65.11 | -6.74 | 2.40 | -0.97 | -28.36 | | 备 | | | | | | | 国防军 | 32.96 | -12.68 | 3.05 | -0.91 | -29.30 | ...