6月10日，上证指数早盘窄幅震荡，午后一度快速下探，随后震荡回升；深证成指、创业板指早盘低位 窄幅震荡，午后一度快速下探，随后震荡回升；科创50指数早盘高开低走，午后一度快速下探，随后有 所回升。截至收盘，上证指数报3384.82点，跌0.44%，成交额5574.28亿元；深证成指报10162.18点，跌 0.86%，成交额8579.45亿元；创业板指报2037.27点，跌1.17%，成交额4118.01亿元；科创50指数报 982.90点，跌1.47%，成交额315.53亿元。沪深两市合计成交14153.73亿元，成交额较上一交易日增加 1289.62亿元。 盘面上来看，行业板块、概念跌多涨少。其中，美容护理、医药生物、银行等行业涨幅靠前；转基因、 重组蛋白、宠物经济、粮食、统一大市场等概念走势活跃。国防军工、计算机、电子、通信、证券、建 筑材料、机械设备、纺织服饰等行业跌幅居前；国资云、PEEK材料、财税数字化、AI手机、存储芯 片、轮毂电机、信创、换电等概念走势较弱。涨停个股主要集中在医药生物、电力设备、交通运输、化 工、传媒等行业。 个股涨跌情况，截至收盘，沪深两市合计1175只个股上涨，3857只个 ...

900只股公布截至5月31日最新股东户数，相比上期股东户数下降的有396只，降幅居前的是哈三联、中 欣氟材、洁雅股份等。 投资者除了在定期报告中获得股东信息数据外，还可以在交易所互动平台上通过提问方式了解部分公司 更及时（每月10日、20日、月末）的股东户数信息。以往3期分别有735家、671家、658家公司在互动平 台透露了股东户数，截至发稿，共有900家公司公布了截至5月31日股东户数。 上期筹码集中股回测：58%跑赢沪指 证券时报·数据宝对上一期(5月20日)筹码集中股监测显示，这些股5月11日以来平均上涨4.30%，走势强 于同期沪指表现（上涨1.28%），其中，58%的筹码集中股相对大盘获超额收益。 上期股东户数降逾一成个股中，*ST和科涨幅最高，5月11日以来累计上涨36.06%，涨幅居前的还有万 通智控、速达股份等。 29股最新股东户数降逾一成 证券时报·数据宝统计显示，共有900只个股公布了5月31日股东户数，与上期（5月20日）相比，股东户 数下降的有396只。其中股东户数降幅超一成的有29只。 股东户数降幅最多的是哈三联，截至5月31日最新股东户数为40260户，较5月20日下降25.74 ...

| | 成交量（亿 | 成交量较昨日增减 | 换手率 | 涨跌幅 | 今日主力资金净流入（亿 | | --- | --- | --- | --- | --- | --- | | | 股） | （%） | （%） | （%） | 元） | | | 45.63 | 25.96 | 0.34 | 0.48 | 8.71 | | | 41.83 | 42.39 | 1.06 | -0.04 | 8.22 | | 交通运 | 48.66 | 36.88 | 1.16 | 0.17 | 6.35 | | 美容护 | 7.13 | 51.77 | 6.38 | 1.10 | 0.64 | | 房地产 | 33.21 | 29.72 | 1.52 | -0.33 | 0.29 | | 渔 | 27.03 | 50.76 | 2.91 | -0.09 | -0.98 | | 钢铁 | 13.29 | -8.96 | 0.67 | -0.36 | -1.76 | | | 15.65 | 17.86 | 2.04 | -0.55 | -1.91 | | | 7.34 | 47.81 | 4.18 | -0.36 | -1.94 | ...

Market Overview - The Shanghai Composite Index fell by 0.44% on June 10, with six industries experiencing gains, led by the beauty and personal care sector, which rose by 1.10% [1] - The banking sector also saw an increase of 0.48%, while the defense and military industry and the computer sector faced declines of 1.97% and 1.87%, respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 45.141 billion yuan, with five industries seeing net inflows [1] - The banking sector had the highest net inflow of 871 million yuan, followed by the public utilities sector, which experienced a slight decline of 0.04% but had a net inflow of 822 million yuan [1] - A total of 26 industries experienced net capital outflows, with the electronics sector leading with an outflow of 7.532 billion yuan, followed by the computer sector with an outflow of 7.427 billion yuan [1] Beauty and Personal Care Sector - The beauty and personal care industry saw a rise of 1.10% with a net capital inflow of 63.98 million yuan [2] - Out of 31 stocks in this sector, 21 stocks increased in value, with two hitting the daily limit, while eight stocks declined [2] - The top three stocks with significant net inflows included Qingdao Kingway with 68.51 million yuan, Huaye Fragrance with 42.32 million yuan, and Haoyue Care with 16.43 million yuan [2] Individual Stock Performance - The top performers in the beauty and personal care sector included: - Qingdao Kingway: +3.41% with a turnover rate of 35.94% and a net inflow of 68.51 million yuan [2] - Huaye Fragrance: +20.00% with a turnover rate of 33.27% and a net inflow of 42.32 million yuan [2] - Haoyue Care: +6.82% with a turnover rate of 3.23% and a net inflow of 16.43 million yuan [2] - Conversely, the stocks with the highest net outflows included: - Shuiyang Co.: -5.71% with a net outflow of 23.91 million yuan [3] - Liangmian Needle: 0.00% with a net outflow of 17.31 million yuan [3] - Furuida: -0.71% with a net outflow of 17.14 million yuan [3]

证券研究报告 | 策略点评 2025 年 06 月 10 日 投资要点 分析师：孟之绪 执业编号：S0300524080001 电话： 邮箱：mengzhixu@ykzq.com 今日关注 指数涨跌情况：今日 A 股主要指数多数收跌。截止收盘，沪指跌 0.44%，收报 3384.82 点；深证成指跌 0.86%，收报 10162.18 点；科创 50 跌 1.47%，收报 982.90 点；创业板指跌 1.17%，收报 2037.27 点。总体上，全天个股跌多涨 少，Wind 数据显示，全市场 4034 只个股下跌，1260 只个股上涨，118 只个股 收平。沪深两市今日成交额合计 14154 亿元，较上个交易日放量 1289.67 亿 元。 投资策略研究 粤开市场日报-20250610 行业涨跌情况：今日申万一级行业涨少跌多，美容护理、银行、医药生物、 交通运输、传媒、有色金属等行业领涨，国防军工、计算机、电子、通信、 非银金融、建筑材料等行业领跌。 板块涨跌情况：今日涨幅居前概念板块为离境退税、稀土永磁、一号文件、 医美、宠物经济、南京市国资、反关税、短剧游戏、谷子经济、生物育种、 智慧农业、仿制药、CR ...

Market Overview - The A-share market experienced a significant decline in the afternoon, with the Shanghai Composite Index down by 0.44%, the Shenzhen Component down by 0.86%, and the ChiNext Index down by 1.17% [1] - Over 4,000 stocks in the market fell, with a total trading volume of 1.42 trillion yuan, an increase of 129 billion yuan compared to the previous trading day [1] Market Dynamics - A sudden wave of selling occurred between 13:10 and 13:30, leading to a nearly uniform sell-off across various sectors, causing major indices to drop by approximately 1% [2] - During this period of panic, the number of declining stocks approached 4,800 [4] Sector Performance - Despite the overall market decline, certain sectors such as port shipping, grain (including genetically modified crops, corn, and seed industry), and rare earths showed strong performance [4] - The market's reaction may be linked to the ongoing U.S.-China trade negotiations, with reports indicating that discussions were taking place in London [6][8] Investment Sentiment - The market's fluctuations suggest that some investors may be taking profits ahead of the negotiations, particularly from sectors that had seen significant gains recently [8] - The future market direction will largely depend on the progress of the U.S.-China negotiations, with a focus on official reports for accurate information [8] Analyst Insights - Recent reports from Zhongtai International Securities indicate that the U.S.-China talks may reduce uncertainty in the short term, but significant differences remain on issues such as tariffs and technology export controls [10] - The report also highlights that the Hong Kong market is experiencing a rotation of funds among focus sectors, with no significant new capital inflow [10] - Analysts suggest that low-valuation, high-growth potential sectors may perform well in the near term, while defensive dividend sectors still hold value [10] Stock Market Trends - The upcoming unlocking of shares for "new consumption" stocks in Hong Kong may lead to increased volatility in stock prices, suggesting that investors should consider taking profits [11] - This perspective may also be relevant for related sectors in the A-share market [11]

| 排名 | 板块名称 | 主力资金净流入（亿元） | 主力资金净流入率(%) | | --- | --- | --- | --- | | – | 航运港口 | 6.85 | 4.83 | | 2 | 银行 | 5.86 | 2.00 | | 3 | 交通运输 | 4.36 | 1.51 | | ব | 出版 | 0.95 | 1.54 | | 5 | 美容护理 | 0.81 | 0.81 | 主力资金监控：计算机板块净流出超92亿 智通财经6月10日电，智通财经星矿数据显示，今日主力资金净流入航运港口、银行、交通运输等板块，净流出计算机、电子、机械 设备等板块，其中计算机板块净流出超92亿元。个股方面，乐山电力涨停，主力资金净买入6.50亿元位居首位，汇洲智能、工商银 行、龙蟠科技主力资金净流入居前；海光信息遭净卖出超9亿元位居首位，东方财富、浪潮信息、中际旭创主力资金净流出额居前。 | 排名 | 股票名称 | 主力资金净流入(亿元) | 主力资金净流入率(%) | | --- | --- | --- | --- | | 1 | 乐山电力 | 6.50 | 31.42 | | 2 | 汇洲智能 | 4.61 ...

2025.06. 10 本文字数：1222，阅读时长大约2分钟 Wind数据显示，全市场跌多涨少，近3400股下跌。 医药股再度走强，CRO方向领涨；新消费、固态电池、跨境电商概念股走强；银行、电力涨幅居前。算力、中航 系、AI应用、半导体、新能源车题材走弱。 | 板块名称 | 涨幅量 | 主力金额 | 板块名称 | 涨幅备 | 王力金额 | | --- | --- | --- | --- | --- | --- | | 毛发医疗 | +2.45% | +50567 | 兵装重组概念 | -1.96% | -1.35 7 | | 美容护理 | +2.25% | +2078万 | 华为盘古 | -1.79% | -4.64亿 | | 減肥药 | +2.22% | +78157 | 华为异腾 | -1.72% | -15.65 7. | | 高压氧舱 | +2.20% | +15407 | 军工装备 | -1.69% | -15.47 7 | | CRO概念 | +1.80% | -2.16 7. | Sora概念皮生 ... | -1.60% | -4.65 7. | | 重组蛋白 | +1.62% | +46 ...

Market Overview - The Shanghai Composite Index opened slightly higher, while the Shenzhen Component and ChiNext Index opened slightly lower, indicating mixed market sentiment [1] - By midday, the Shanghai Composite Index was at 3403.52 points, up 0.11%, with a trading volume of approximately 308.5 billion; the Shenzhen Component was at 10226.55 points, down 0.23%, with a trading volume of about 480.2 billion; the ChiNext Index was at 2053.94 points, down 0.36%, with a trading volume of around 235.3 billion [1] Sector Performance - The top-performing sectors included dispersed dyes, liquid-cooled servers, and cultural and recreational sectors at the market open [1] - Active sectors also included recombinant proteins, hair medical, innovative drugs, beauty care, sports concepts, and solid-state batteries, while sectors like financial digitalization, PEEK materials, and AI saw significant declines [1] Institutional Insights - CITIC Securities suggests that small-cap stocks have a short-term advantage and may continue to perform strongly, while large-cap stocks are expected to follow suit as the macro economy recovers [2] - Huaxi Securities notes that the technology sector may experience rotation opportunities, with limited downside potential and promising upside as the sector has not reached high congestion levels [2] - Dongwu Securities anticipates a sustained recovery in the electronics industry in the second half of the year, driven by inventory depletion and seasonal demand [3] Government Initiatives - The National Development and Reform Commission expects a 30% increase in central budget investment for social undertakings compared to the end of the 13th Five-Year Plan [4] - The Ministry of Finance is accelerating the establishment of a childcare subsidy system to enhance elderly and childcare services [5]

证券研究报告 | 2025年06月10日 商贸零售行业 6 月投资策略 优于大市 618 大促表现稳中有进，新消费行情持续扩圈 618 大促阶段性数据公布，美护国货龙头表现平稳。平台方面，京东 5 月 30 日晚 8 点开启第一波 618，开门红 1 小时，成交额、订单量、下单用户数同 比增长均超 200%，超 2 万个品牌成交额同比增长超 3 倍。天猫 618 第一阶段， 截至 5 月 30 日晚 9 点，217 个品牌成交破亿。品牌方面，在美妆行业中，珀 莱雅拿下天猫第一阶段护肤品销售榜第一的位置，巨子生物旗下可复美排名 第十。毛戈平和彩棠分别拿下彩妆销售榜第二和第三的位置。 大促新特征：即时零售带动线下销售联动，AI 技术深度参与。一方面，今年 618 促销进一步拉长，天猫于 5 月 13 日晚 8 点便开启预售。促销规则上，多 家平台均取消了跨店满减活动，保留官方折扣和平台补贴，减少凑单退货情 况，也减轻了消费者计算优惠的难题。另一方面，美团闪购等即时零售平台 深度参与 618，联合线下商家，助力拓宽了地理边界和销售人群覆盖，从而 带动销售增长。此外，AI 深度参与助力商家运营，提升消费者交互购物体验 ...