| CERE | | | 日度策略参 | | --- | --- | --- | --- | | 行业板块 | 品种 | 趋势研判 | 逻辑观点精粹及策略参考 | | | | | 国内经济基本面支撑较弱,短期国内政策预期不强,海外扰动加 | | | | | 剧。 股指偏弱震荡为主,策略上结合期权工具对冲不确定性。 | | 宏观金融 | 国债 | 農汤 | 资产荒和弱经济利好债期,但短期央行提示利率风险,压制上涨 空间。 | | | 真金 | 看多 | 中东局势再度升级,或支撑金价;中长期上涨逻辑仍旧坚实。 | | | 白银 | 農汤 | 银价短期或偏弱震荡。 | | | | | 近期市场风险偏好反复,虽然国内下游需求进入淡季,但出口窗 | | | | 震荡 1 | 口打开情况下 铜库存有望进一步下滑,铜价短期维持高位震荡 | | | | | 近期国内电解铝库存持续下滑且库存水平偏低,挤仓风险仍存了6 | | | | | 铝价维持偏强运行。 氧化铝现货价格有所回落,但盘面价格更弱,期货维持贴水,限 | | | E 1 1 7 | 農汤 | 制下方空间。另一方面,冶炼端(现货)利润尚可,产量提升, | | | | ...

Group 1 - During the "14th Five-Year Plan" period, Heilongjiang Province focuses on technological innovation to lead comprehensive industrial revitalization, contributing to national strategic tasks such as manned spaceflight and Mars exploration [1][2] - The province has established a unified leadership for scientific and technological work, forming a Provincial Science and Technology Committee led by key provincial leaders [1] - Heilongjiang has achieved significant breakthroughs in various technologies, including shale oil and gas exploration, which supports the Daqing Oilfield in achieving a daily oil and gas equivalent production of over 1,000 tons [1][2] Group 2 - The province has secured 101 projects under the National Natural Science Foundation's regional innovation development joint fund, with direct funding of 260 million yuan, and has undertaken a total of 3,867 projects [2] - A total of 793 technology research projects have been organized in key areas such as modern agriculture and advanced manufacturing, with project funding amounting to 1.7 billion yuan [2] - The province has supported 100 major technology achievement transformation projects, resulting in new sales revenue of 9.429 billion yuan and new tax revenue of 1.698 billion yuan [3] Group 3 - An AI platform has been established to match scientific research teams with enterprise needs, leading to the transformation of 1,434 major technological achievements and generating economic benefits of 24.266 billion yuan [3] - The province is building innovation and entrepreneurship ecosystems around universities and research institutions, with 1,021 technology-based enterprises gathered in these ecosystems [3] - High-tech achievements such as smart surgical robots and carbon fiber ski equipment are being transformed into enterprises, injecting strong momentum into local economic development [3]

黄金、原油开盘拉涨 受上周末中东局势升级影响，现货黄金周一高开，最高至3398美元/盎司；WTI原油高开3.7%。布伦特原油期货开盘上涨5.7%，至81.4美元/桶。截至发 稿，黄金、原油价格均有所回落。 此外，中东地区天然气供应也会受到干扰，并与其他能化品种产生共振效应。据了解，以色列6月15日对伊朗南帕尔斯气田的空袭已导致该地区日产气量 下降，随着冲突进一步扩大，欧洲TTF天然气基准价格和亚洲LNG现货价格可能被进一步推高。"油气价格具有强相关性，天然气供应紧张不仅会强化原 油市场的看涨情绪，还将增加中东甲醇和尿素的生产成本，导致相关生产装置运行不稳。"苗扬称。 "美伊正面冲突已成现实，中东冲突呈现加速扩大化趋势。"广发期货分析师苗扬认为，美国从幕后支援转向直接打击伊朗战略核资产，标志冲突性质转变 为地区大国与世界强权间的军事对抗。 "美军直接介入伊朗核设施打击，符合此前机构推演。"海通期货能化负责人杨安表示，当前冲突暂限于核设施层面，但美国入局已为油价注入5～10 美元/ 桶的地缘溢价。"风险度提升是确定的，虽暂未失控，但市场情绪可能引发剧烈波动。" 在紫金天风期货分析师汤剑林看来，伊朗作为能源输出国， ...

Market Overview - The A-share market continues to experience a volume contraction, with the Shanghai Composite Index closing at 3359.9 points, reflecting a cumulative decline of 0.51% for the week [1] - Market sentiment is generally cautious as the end of the first half of the year approaches [1] ETF Performance - Bank-related ETFs have emerged as a "safe haven" during the weak market, with several bank ETFs reaching historical highs [1][4] - The overall performance of ETF products has been lackluster, with the median weekly return for over 1100 products at approximately -0.86% [1] - The bank ETF index fund recorded a weekly increase of 3.22%, with other related products also exceeding 3% in weekly gains [4] Top Performers - The top performers for the week include multiple bank ETFs, which have all achieved historical highs [4] - The wine ETF showed a weak rebound of 2.39%, entering the gainers' list, although its long-term trend remains uncertain [4] Underperformers - The decline in the market was predominantly driven by Hong Kong innovative drug-related ETFs, all of which experienced significant downturns [5][7] - The top 20 ETFs with the largest declines were all related to Hong Kong innovative drugs, with the leading product, the Hong Kong Medical ETF, dropping by 8.617% [5][7] - Additionally, gold-related ETFs also saw substantial declines, with several products falling over 6% due to a more than 2.5% drop in international gold prices [7]

Core Viewpoint - Zhejiang Jiayuan Energy Chemical Co., Ltd. has corrected the discrepancies in the number of shares held in its repurchase account due to the initiation of its 2025 share repurchase plan [1] Group 1: Share Repurchase Details - The company has established a dedicated repurchase securities account with China Securities Depository and Clearing Corporation Limited [1] - The number of shares in the repurchase account before cancellation was 44,165,685, with 34,165,685 shares set to be canceled on June 16, 2025 [1] - After the correction, the number of shares in the repurchase account is updated to 44,759,785, with 10,594,100 shares to be canceled [1] Group 2: Changes in Total Capital - Following the cancellation of shares, the total share capital of the company will decrease from 1,391,045,207 shares to 1,356,879,522 shares [1] - The registered capital will also be adjusted accordingly, with the company committing to complete the necessary business registration changes [1]

市场回顾： 本周（2025年6月16日-6月20日），三大指数在外部扰动中持续调整，目前外部风险尚未完全消退，叠加半年末关键时点临近，市场 整体风格趋于保守。从市场情绪看，上证指数3400位置开始回调，前期较为热门的板块估值回调明显。三大指数本周持续下探，上 证指数、深证成指、创业板指分别跌0.50%、1.15%、1.66%。 ETF方面，外部风险加剧或流动性趋紧，短期行情或维持弱势震荡。当前市场仍需关键变量驱动。红利类资产依旧有其较高的配置 价值。与此同时随着利率下行，债权类资产量价齐升。从上周ETF走势看，全市场ETF平均跌幅1.16%，其中债券ETF表现亮眼微涨 0.20%，股票型ETF、跨境兴ETF均有较大回撤。 ETF涨跌幅： 涨幅方面，红利类ETF稳中向上 | | | 本周ETF涨幅 TOP10 | | | | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 涨幅 | 基金管理人 | 投资类型 | | 159981 | 能源化工ETF | 4. 73% | 建信基金 | 商品型基金 | | 516210 | 银行ETF指数基金 | 3. 22% | 华安 ...

广发早知道-汇总版 广发期货研究所 电 话：020-88830760 E-Mail：zhaoliang@gf.com.cn 目录： 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银 集运指数 商品期货： 有色金属： 铜、锌、镍、不锈钢、锡、碳酸锂 黑色金属： 钢材、铁矿石、焦煤、焦炭、铁合金 农产品： 油脂、粕类、玉米、生猪、白糖、棉花、鸡蛋、花生、红枣、苹果 能源化工： 原油、PTA、乙二醇、苯乙烯、短纤、尿素、瓶片、烧碱、PVC、LLDPE、 PP 特殊商品： 橡胶、玻璃纯碱、工业硅、多晶硅 2025 年 6 月 20 日星期五 投资咨询业务资格： 证监许可【2011】1292 号 刘珂（投资咨询资格：Z0016336） 电话：020-88818026 邮箱：qhliuke@gf.com.cn 叶倩宁（投资咨询资格：Z0016628） 电话：020- 88818017 邮箱：yeqianning@gf.com.cn 周敏波（投资咨询资格：Z0010559） 电话：020-81868743 邮箱：zhoumingbo@gf.com.cn 本报告中所有观点仅供参考，请务必阅读正文之后的免责声 ...

2025 年 6 月 19 日星期四 重庆市江北区金沙门路 32 号 23 层； 023-67070250 上海市浦东新区世纪大道 210 号 10 楼 1001； 021-50591197 地址： 电话： 1 市场有风险 投资需谨慎 | | | | 铜： | | 17 | | --- | --- | --- | | 锡： | | 17 | | 镍： | | 18 | | 豆油、豆粕： | | 18 | | 棕榈油： | | 19 | | 菜粕、菜油： | | 20 | | 棉花： | | 20 | | 白糖： | | 21 | | 苹果： | | 22 | | 生猪： | | 23 | | 鸡蛋： | | 23 | | 玉米&淀粉： | | 24 | | 原木： | | 25 | | 免责声明 | | 26 | 国债： 上一交易日，国债期货收盘表现分化，30 年期主力合约涨 0.09%报 120.900 元， 10 年期主力合约跌 0.01%报 109.140 元，5 年期主力合约跌 0.01%报 106.280 元，2 年 期主力合约涨 0.01%报 102.544 元。 公开市场方面，央行公开市场开展 ...

广发早知道-汇总版 广发期货研究所 电 话：020-88830760 E-Mail：zhaoliang@gf.com.cn 目录： 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银 集运指数 商品期货： 有色金属： 铜、锌、镍、不锈钢、锡、碳酸锂 黑色金属： 钢材、铁矿石、焦煤、焦炭、铁合金 农产品： 油脂、粕类、玉米、生猪、白糖、棉花、鸡蛋、花生、红枣、苹果 能源化工： 原油、PTA、乙二醇、苯乙烯、短纤、尿素、瓶片、烧碱、PVC、LLDPE、 PP 特殊商品： 橡胶、玻璃纯碱、工业硅、多晶硅 2025 年 6 月 19 日星期四 投资咨询业务资格： 证监许可【2011】1292 号 组长联系信息： 张晓珍（投资咨询资格：Z0003135） 电话：020- 88818009 邮箱：zhangxiaozhen@gf.com.cn 刘珂（投资咨询资格：Z0016336） 电话：020-88818026 邮箱：qhliuke@gf.com.cn 叶倩宁（投资咨询资格：Z0016628） 电话：020- 88818017 邮箱：yeqianning@gf.com.cn 周敏波（投资咨询资格：Z00 ...

Group 1 - The core viewpoint of the articles highlights the strengthening of international relations and cooperation between Shaanxi Province and Central Asian regions through the establishment of friendly province and city relationships [1][2][3] - Shaanxi Province has signed agreements with regions in Turkmenistan, Tajikistan, and Kazakhstan, enhancing its international friendship city count to 120 across 41 countries [1] - The cooperation areas include agriculture, energy, logistics, cultural tourism, and education, aiming for mutual benefits and resource sharing [2][3] Group 2 - New friendships have been formed with Central Asian regions, including the establishment of friendly city relationships between Weinan and Samarkand, and Yulin and Tashkent [2] - Specific collaborations are planned in agriculture, energy, and cultural exchanges, with a focus on long-term partnerships and technology training [2][3] - Shaanxi's international friendship cities have expanded significantly, achieving full coverage with all five Central Asian countries [2]