[Table_Info1] 银龙股份(603969) 机械设备 [Table_Date] 发布时间：2025-07-01 [Table_Title] 证券研究报告 / 公司点评报告 全球预应力材料领军企业，业绩或进入放量期 [Table_Summary] 事件：根据交易所互动平台信息，针对机器人腱绳业务，公司正在对精 细化线材产品的全品类应用场景进行深入研究，该项目尚处于前期调研 与技术储备阶段。 点评 预应力材料+轨交用混凝土制品营收利润高增，业绩进入加速放量期 预应力材料和轨交用混凝土制品作为公司的核心业务，2024 年实现营收 业务双高增。预应力材料：2024 年，公司预应力材料产业实现营业收入 24.25 亿元（同比+6.03%），实现归母净利润 1.74 亿元（同比+ 55.93%）， 主要系销量同比增长和高附加值产品占比提升。公司作为全球领先的预 应力材料全产业链企业，年产能超过 60 万吨。2025 年，公司将基于当 前在手订单及市场需求持续放量。同时，受益于国家重大基础设施工程 的稳健发展，公司将着力提升高附加值产品的市场占有率，进一步提升 盈利能力。轨交用混凝土制品：2024 年，公司轨交用 ...

Group 1 - In June, private equity firms showed unprecedented activity in research, with 751 private securities managers participating in A-share listed company research, covering 387 stocks across 28 first-level industries, resulting in a total of 1,769 research instances [1] Group 2 - A total of 46 stocks received significant attention from private equity firms in June, with each stock having more than 10 research instances; 32 stocks received between 10 to 19 instances, while 14 stocks had over 20 instances [3] - Maiwei Biotech topped the list with 51 research instances, attracting interest from several major private equity firms [3] - Another notable stock in the pharmaceutical and biotechnology sector, Baili Tianheng, received 29 research instances, ranking among the top ten [3] Group 3 - Research activity was diverse across industries, with 21 first-level industries receiving at least 10 research instances from private equity firms; 11 industries had between 10 to 49 instances, 4 industries had between 50 to 99 instances, and 6 industries exceeded 100 instances [4] - The electronics industry was the most favored by private equity research, with 56 stocks collectively receiving 275 research instances [4] - The pharmaceutical and biotechnology sector followed closely, with 41 stocks receiving a total of 266 research instances [4] - The machinery equipment industry ranked third, with 52 stocks receiving a total of 234 research instances [4] - The computer industry had 36 stocks receiving 213 research instances, while both the automotive and basic chemical industries also surpassed 100 research instances, each with over 25 stocks [4]

Group 1 - A total of 17 companies were investigated by funds, with Ice Wheel Environment, New Coordinates, and AVIC Shenfei receiving the most attention [1][2] - Ice Wheel Environment was the most popular, with 28 funds participating in its investigation, followed by New Coordinates with 20 funds and AVIC Shenfei with 13 funds [1][2] - The companies investigated belong to various sectors, with the automotive industry having the highest representation at 3 companies, followed by defense and military, and power equipment with 2 companies each [1] Group 2 - Among the companies investigated, 2 have a total market capitalization exceeding 500 billion, with AVIC Shenfei being one of them, while 8 companies have a market cap below 100 billion [1] - All investigated stocks have risen in the past 5 days, with Ice Wheel Environment, New Coordinates, and He Yuan Gas showing the highest increases of 13.16%, 12.87%, and 11.20% respectively [1][2] - In terms of net capital inflow over the past 5 days, AVIC Shenfei attracted 469 million yuan, followed by New Coordinates and Ice Wheel Environment with inflows of 86.08 million yuan and 74.84 million yuan respectively [2]

随着上半年交易收官，券商金股组合上半年投资"成绩单"也随之出炉。 每市APP数据显示，近九成的券商金股组合在上半年取得正收益，其中东北证券以45.45%的组合收益率稳居第 一。 从新鲜出炉的7月金股名单来看，电子、医药生物、机械设备行业的股票数量最多，电力设备、非银金融也有 不低的占比。 展望7月，大盘指数能否再次向上突破成为券商关注焦点。有券商认为，市场依旧具备尝试突破的潜力，配置 上，泛科技、券商等方向受到机构重点推荐。 6月最牛金股大涨63% 回顾6月金股表现，每市APP数据显示，申万宏源、国元证券共同推荐的巨人网络（002558.SZ）以63.09%的月 涨幅当选6月最牛金股，主要由于该公司推出的新游《超自然行动组》数据走强。由东北证券推荐的胜宏科技 （300476.SZ）以55.39%的月涨幅排名第二，该公司是英伟达在国内算力板领域的核心供应商。 排名第三的是由天风证券推荐的内蒙一机（600967.SH），当月涨幅为54.80%，该股属于国防军工板块。此 外，由中泰证券推荐的源杰科技（688498.SH）、由开源证券推荐的新易盛（300502.SZ）月涨幅也超40%。 数据显示，随着A股半年度收官， ...

晨会纪要（2025/07/01） 编辑人 022-28451618 SAC NO：S1150511010016 cuijian@bhzq.com 崔健 渤海证券研究所晨会纪要（2025.07.01） 宏观及策略研究 政策效果持续释放，推动制造业景气回升——2025 年 6 月 PMI 数据点评 金融工程研究 个人养老金定投指数型 ETF 的方式探索——金融工程专题 两融余额略有收缩，关注结构性变化——2025 年融资融券半年报 中证 A500 指数资金大幅流入，主动权益基金仓位下降——公募基金周报 基于随机森林的多因子选股模型构建——金融工程专题报告 证 券 研 究 报 告 晨 会 纪 要 请务必阅读正文之后的声明 渤海证券股份有限公司具备证券投资咨询业务资格 1 of 7 晨会纪要（2025/07/01） （1）制造业景气水平有所回升，产需两端均有改善，主要受益于扩大内需政策效果的持续释放，相关行业 景气度保持扩张。具体而言，6 月生产节奏进一步加快，生产指数回升 0.3 个百分点至 51.0%；同时，新订 单指数也回升 0.4 个百分点至 50.2%，重回扩张区间。进出口方面，关税暂缓期内，6 月新出口订 ...

Market Overview - The A-share market ended the first half of the year positively, with the Shanghai Composite Index rising by 0.59% to close at 3444.43 points, and the Shenzhen Component Index increasing by 0.83% [1] - Overall, the market exhibited a trend of oscillating upward, with major indices showing slight gains [1] - The Shanghai Composite Index rose by 2.76% in the first half, while the Shenzhen Component Index increased by 0.48%, the ChiNext Index by 0.53%, and the STAR 50 Index by 1.46%. The North Star 50 Index stood out with a significant increase of 39.45% [1] Sector Performance - In the first half, 26 out of 31 Shenwan first-level industries saw an increase, with the top five sectors being Beauty Care (24.5%), Nonferrous Metals (23.1%), National Defense and Military Industry (20%), Media (19.1%), and Machinery Equipment (17.8%) [1] - The market displayed a "dividend + small-cap growth" style, with banks and gold stocks leading the gains, while technology growth sectors such as AI, semiconductors, solid-state batteries, and innovative drugs showed strong rotation [1] Individual Stock Performance - Over 3800 stocks rose in the first half, accounting for approximately 70% of the total, with 626 stocks increasing by over 50% and 175 stocks rising by more than 100% [1] - The top five individual stocks in terms of growth were Xingtum Measurement and Control, Guangxin Technology, United Chemical, Tiangong Co., and Shutaishen, all of which saw increases exceeding four times their initial values [2] Future Outlook - Analysts expect the market to continue the small-cap style led by private equity funds in the short term, with a potential shift towards large-cap growth style as external liquidity improves and economic fundamentals recover, possibly around the fourth quarter [2] - Key areas for accelerated growth include AI hardware and applications, humanoid robots, solid-state batteries, domestic semiconductor innovation, controllable nuclear fusion, military trade overseas, and new consumption [2]

本报记者 于宏 Wind资讯数据显示，6月份以来，截至6月30日记者发稿，券商合计调高了11只个股的评级，下调了29 只个股的评级，并对411只个股进行了首次覆盖。 从整体来看，券商合计对617只个股给出了"买入"评级。其中，电子、医药生物、机械设备等行业的个 股较受券商关注。 值得注意的是，券商对个股的评级受到多重因素影响，因此，对于同一只个股，不同的券商可能对其给 出差异化的评级结果。例如，对于寒武纪-U，6月23日，浙商证券将其评级由"增持"上调至"买入"，相 关分析师认为，该公司于6月4日发布定增计划相关公告，募集资金拟投入大模型相关芯片平台和软件平 台研发项目，为产品持续迭代奠定基础。而在综合考虑市场风险、盈利情况等多方面因素的基础上，国 信证券则在6月16日将寒武纪-U的评级由"买入"下调至"优大于市"。 影石创新"人气"高 上述获得券商"买入"评级的617只个股中，有147只个股获得了2家及以上券商给出的"买入"评级。其 中，比亚迪、鼎捷数智、东山精密、长安汽车均累计获得7家券商给出"买入"评级；顺丰控股、天山铝 业获得6家；国科微、孩子王、联影医疗、泰凌微、万达电影、稳健医疗、小商品城、芯原股 ...

Group 1 - As of June 30, 2025, a total of 163 public fund institutions conducted research on 1,943 A-share listed companies, with a total of 40,093 research instances [1] - Public fund institutions are able to gain deeper insights into companies' operational conditions, development strategies, and industry positions through research, aiding in more accurate assessments of future profitability and growth potential [1] - There were 233 stocks that received at least 50 instances of research, with 189 stocks receiving between 50 to 99 instances, 41 stocks receiving between 100 to 199 instances, and 3 stocks receiving over 200 instances [1] Group 2 - The electronic industry led with a total of 7,376 research instances across 229 stocks, significantly outperforming other industries [2] - The pharmaceutical and biological industry and the mechanical equipment industry ranked second and third, with 5,150 and 4,958 research instances respectively [2] - The electronic industry is experiencing significant development opportunities driven by the acceleration of emerging technologies such as artificial intelligence, IoT, and 5G, supported by government policies [2] Group 3 - Other industries with high research frequency include computer, electric equipment, basic chemicals, automotive, telecommunications, national defense, and textile and apparel [3] - A total of 113 public fund institutions conducted more than 100 research instances, with leading institutions like Bosera Fund and Huaxia Fund conducting 971 and 870 instances respectively [3] - Public fund institutions are increasing research efforts to identify potential investment targets by focusing on technological barriers, industry synergy potential, and sustainable development capabilities [3]

2025 年 06 月 30 日 北交所行业研究 研究所： 证券分析师： 罗琨 S0350522110003 luok@ghzq.com.cn 联系人 ： 禹露 S0350124070012 yul06@ghzq.com.cn [Table_Title] 本周北证 50 实现领涨、广信科技上市，下周锦 华新材上会 ——北交所行业周报 最近一年走势 | 行业相对表现 | | | | 2025/06/27 | | --- | --- | --- | --- | --- | | 表现 | | 1M | 3M | 12M | | 北证 | 50 | 3.08% | 7.40% | 100.53% | | 沪深 | 300 | 1.60% | 0.06% | 12.69% | 相关报告 《北交所行业周报：近期北证 50 指数呈震荡回调， 下周奥美森上会（推荐）*中小盘*罗琨》—— 2025-06-23 《北交所行业周报：本周北交所放量下跌、交大铁 发正式上市，下周广信科技申购（推荐）*中小盘* 罗琨》——2025-06-16 《北交所行业周报：北证专精特新指数即将发布， 下周交大铁发上市（推荐）*中小盘*罗琨》—— 2 ...

6月30日，A股市场整体上涨。 截至收盘，上证指数收报3444.43点，上涨0.59%；深证成指收报10465.12点，上涨0.83%；创业板指收 报2153.01点，上涨1.35%。两市合计成交14868.57亿元，较上一交易日减少542.44亿元。 2. 沪深300主力资金净流出近27亿元 沪深300今日主力资金净流出26.76亿元，创业板净流出8.66亿元。 | | | 各板块最近五个交易日主力资金净流入数据(亿元) | | | --- | --- | --- | --- | | 日期 | 沪深300 | 创业板 | 科创板 | | 2025-6-30 | -26.76 | -8. 66 | -9. 17 | | 2025-6-27 | 11.90 | -99. 35 | -3.08 | | 2025-6-26 | -52. 46 | -147. 39 | 1. 39 | | 2025-6-25 | 19.12 | 37. 69 | -14. 67 | | 2025-6-24 | 18. 85 | 29.77 | -12. 35 | | | | 尾盘资金净流入数据(亿元) | | | 2025-6-30 ...