【导读】汽车零部件、多元金融等板块表现活跃 中国基金报记者 李智 一起来看下最新的市场情况及资讯。 12 月 25 日上午， A 股市场走势分化，截至午间收盘，沪指涨 0.29% ，深成指跌 0.11% ，创业板指跌 0.37% 。 | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 3952.50 | 13472.22 | 1460.60 | | +11.56 +0.29% -14.19 -0.11% +15.06 +1.04% | | | | 科创50 | 创业板指 | 万得全A | | 1344.45 | 3217.47 | 6388.02 | | -7.68 -0.57% -12.10 -0.37% +16.33 +0.26% | | | | 沪深300 | 中证500 | 中证A500 | | 4631.00 | 7375.81 | 5618.23 | | -3.06 -0.07% +23.77 +0.32% -4.28 -0.08% | | | | 中证1000 | 深证100 | 中证红利 | | 7548.12 | 5841.48 | 5485.90 | ...

据交易所数据显示，截至12月25日午间收盘，大盘主力资金净流出256.41亿元。主力资金流入前十大板块分别为：航天航空（18.67亿元）、 汽车零部件 （18.27亿元）、 通用设备（16.00亿元）、 电机（6.05亿元）、 包装材料（5.13亿元）、 房地产开发（2.55亿元）、贸易行业（1.52亿元）、 酿酒行业 （1.00亿元）、 保险（0.95亿元）、 仪器仪表（0.83亿元）。 | | 板块名称 涨跌幅(%) 板块资金流向 | | 净流入最大 | | --- | --- | --- | --- | | 航天航空 | 3.5 | 18.67亿元 | 航天电子 | | 汽车零部件 | 1.52 | 18.27亿元 | 万向钱潮 | | 通用设备 | 1.69 | 16.00亿元 | 中核科技 | | 电机 | 2.45 | 6.05亿元 | 方正电机 | | 包装材料 | 1.95 | 5.13亿元 | 顺灏股份 | | 房地产开发 | 0.56 | 2.55亿元 | 首开股份 | | 贸易行业 | 0.89 | 1.52亿元 | 跨境通 | | --- | --- | --- | --- | | 酿 ...

Core Viewpoint - Minth Group is a leading enterprise in the automotive exterior and body structure components sector, continuously expanding its product offerings and customer base, with projected net profits for 2025-2027 at 2.813 billion, 3.443 billion, and 4.073 billion yuan, reflecting growth rates of 21%, 22%, and 18% respectively, and a corresponding market PE of 13, 11, and 9 times [1] Group 1: Business Overview - Minth Group has over 30 years of industry experience, with core business lines including metal trim, plastic parts, aluminum components, and new energy vehicle battery boxes, showcasing both depth and breadth in its operations [1] - The company serves over 70 leading domestic and international automakers, including BMW, Mercedes-Benz, Tesla, and BYD, with overseas revenue increasing from 41% in 2021 to 65% in the first half of 2025, indicating significant progress in its globalization strategy [1] - The business structure is continuously optimized, with the battery box segment projected to account for 27% of revenue in the first half of 2025, becoming the largest revenue source; aluminum products are expected to see a CAGR of 12% from 2020 to 2024, maintaining a gross margin above 30% [1] Group 2: Growth Drivers - The traditional exterior component business remains robust, with a diverse range of products contributing to sustained performance; the company is leveraging lightweight and intelligent upgrades to enhance value, with aluminum alloy exterior parts gaining traction in high-end European and American brands [2] - The battery box business, a core segment in the new energy sector, has established a global supply system with factories in Serbia, France, and Poland, achieving a remarkable CAGR of 173% from 2020 to 2024; the company is also expanding into collision modules, subframes, and die-casting structural components, enhancing the integrated value of battery boxes and chassis structures [2] Group 3: Emerging Opportunities - Minth Group is actively entering emerging sectors such as humanoid robots, liquid cooling, and low-altitude economy, leveraging its manufacturing expertise; it has signed a strategic cooperation agreement with ZhiYuan Robotics to develop joint modules and electronic skin components, with initial samples completed [3] - The AI server liquid cooling business has secured orders from leading Taiwanese manufacturers, integrating into the global semiconductor supply chain, and a joint venture with Fuman Technology aims to achieve mass production capabilities by the end of 2025 [3] - In the low-altitude aircraft sector, the company is collaborating with EHang Intelligent to develop eVTOL airframes and rotor systems, and is working with Siemens on wireless charging systems for electric vehicles, creating smart mobility solutions [3]

Core Viewpoint - Minth Group (00425) is a leading player in the exterior and body structure components sector, continuously expanding its new products and customer base, with projected net profits for 2025-2027 at 2.813 billion, 3.443 billion, and 4.073 billion yuan, representing growth rates of 21%, 22%, and 18% respectively, and corresponding market PE ratios of 13, 11, and 9 times [1] Group 1 - Minth Group has over 30 years of industry experience, with core business lines including metal trim, plastic parts, aluminum components, and new energy vehicle battery boxes, serving over 70 major domestic and international automakers such as BMW, Mercedes-Benz, Tesla, and BYD [2] - The company's overseas revenue share increased from 41% in 2021 to 65% in the first half of 2025, indicating significant progress in its globalization strategy [2] - The business structure is continuously optimized, with the battery box segment projected to account for 27% of revenue in the first half of 2025, becoming the largest revenue source [2] Group 2 - The traditional exterior component business remains robust, with a diverse range of products contributing to sustained growth, benefiting from the dual upgrades of lightweight and intelligent features [3] - The battery box business, a core area in the new energy sector, has established a global supply system with factories in Serbia, France, and Poland, achieving a revenue CAGR of 173% from 2020 to 2024 [3] - The company is extending its offerings to include front and rear collision modules, subframes, and die-casting structural components, enhancing the integrated value of battery boxes and chassis structures [3] Group 3 - Minth is actively entering emerging sectors such as humanoid robots, liquid cooling, and low-altitude economy, leveraging its manufacturing expertise [4] - In the humanoid robot sector, Minth has signed a strategic cooperation agreement with Zhiyuan Robotics to develop joint modules and electronic skin, with small batch samples already completed [4] - The company has received orders for AI server liquid cooling from leading Taiwanese manufacturers and is collaborating with Fuman Technology to establish a factory capable of mass production by the end of 2025 [4]

Group 1 - The core action in the humanoid robot sector is the acquisition by UBTECH (9880.HK) of a 43% stake in Fenglong Co., Ltd. (002931.SZ) for 1.665 billion yuan, marking a significant step in UBTECH's "H+A" dual capital platform strategy [2] - The share transfer and tender offer price is set at 17.72 yuan per share, reflecting a 10% discount from Fenglong's last closing price of 19.68 yuan before suspension [2] - Following the announcement, Fenglong's stock surged to a limit-up of 21.65 yuan per share upon resuming trading, increasing its market capitalization to 4.7 billion yuan [2] Group 2 - Fenglong's business focus on garden machinery parts, automotive components, and hydraulic parts complements UBTECH's needs for extending its industrial chain [4] - UBTECH has no immediate plans to alter Fenglong's main business or make significant adjustments within the next 12 months [4] - The acquisition aligns with UBTECH's capital strategy and industrial implementation, aiming to leverage multi-tiered capital market synergies for global expansion and resource enhancement [4] Group 3 - UBTECH's humanoid robot Walker S2 has seen significant market expansion, including a strategic partnership with Texas Instruments and a project win in Huizhou worth nearly 60 million yuan [5] - Current monthly production capacity for Walker S2 exceeds 300 units, with an expected annual delivery of over 500 units, and a projected capacity increase to 10,000 units by 2026 [5] - The humanoid robot industry is experiencing a dual drive of industrialization and capitalization, with leading companies pursuing mergers and IPOs to accelerate their capital processes [5]

Core Viewpoint - The main market experienced a net outflow of 26.031 billion yuan in principal funds as of December 25, with specific sectors attracting significant inflows [1]. Group 1: Sector Performance - The top sectors with net inflows included General Equipment (1.18% increase, 1.215 billion yuan), Auto Parts (1.17% increase, 1.174 billion yuan), and Aerospace (3.32% increase, 0.869 billion yuan) [2]. - Other sectors with notable inflows were Insurance (2.82% increase, 0.351 billion yuan), Electric Motors (1.86% increase, 0.314 billion yuan), and Real Estate Development (0.22% increase, 0.306 billion yuan) [2][3]. Group 2: Individual Company Highlights - Key companies with the largest net inflows included China Nuclear Technology in General Equipment, Wanxiang Qianchao in Auto Parts, and Aerospace Electronic in Aerospace [2]. - In the Insurance sector, Ping An Insurance saw significant inflows, while Fangzheng Electric led in Electric Motors [2]. - Other notable companies included Hanwei Technology in Instrumentation, Kuaijingtong in Trade, and Zhongjian Technology in Chemical Fiber [3].

Core Viewpoint - The acquisition of approximately 43% of Fenglong Co., Ltd. by UBTECH Robotics through a combination of "agreement transfer + tender offer" aims to secure control over the company and enhance its capabilities in humanoid robot development and commercialization [2][5]. Group 1: Acquisition Details - UBTECH plans to invest approximately 1.665 billion RMB to acquire 43% of Fenglong's shares, with the transaction structured in three steps [2]. - The share transfer price and tender offer price are both set at 17.72 RMB per share, representing a discount of about 10% compared to Fenglong's last trading price of 19.68 RMB [2]. - The acquisition will result in UBTECH becoming the controlling shareholder of Fenglong, with the actual controller changing from Dong Jianggang to UBTECH's founder, Zhou Jian [2]. Group 2: Board Restructuring and Performance Commitments - Following the acquisition, the board of directors of Fenglong will consist of 7 members, with UBTECH entitled to nominate 6, indicating a complete takeover of operational decision-making [3]. - The transaction includes performance commitments from the sellers, ensuring Fenglong's net profits for the fiscal years 2026, 2027, and 2028 will not be less than 10 million, 15 million, and 20 million RMB, respectively [4]. Group 3: Strategic Rationale and Financial Context - UBTECH's acquisition aims to integrate its humanoid robot technology with Fenglong's manufacturing capabilities, supply chain relationships, and customer base to accelerate development and production [5]. - Fenglong's projected revenues for 2023 and 2024 are 433 million RMB and 479 million RMB, with net profits of -7 million RMB (loss) and 4.6 million RMB (profit) respectively [5]. - UBTECH, while having larger revenue projections of 1.305 billion RMB for 2024, also faces profitability challenges, indicating a strategic move to enhance production capacity through acquiring a mature manufacturing enterprise [5].

12月25日，中原内配盘中上涨2.11%，截至10:23，报13.08元/股，成交1.16亿元，换手率1.97%，总市值 76.96亿元。 中原内配所属申万行业为：汽车-汽车零部件-底盘与发动机系统。所属概念板块包括：航天军工、无人 机、长安汽车概念、燃料电池、无人驾驶等。 截至12月10日，中原内配股东户数4.76万，较上期减少1.40%；人均流通股9567股，较上期增加1.42%。 2025年1月-9月，中原内配实现营业收入28.67亿元，同比增长16.35%；归母净利润3.26亿元，同比增长 39.89%。 分红方面，中原内配A股上市后累计派现7.96亿元。近三年，累计派现2.18亿元。 机构持仓方面，截止2025年9月30日，中原内配十大流通股东中，招商量化精选股票发起式A （001917）位居第二大流通股东，持股430.61万股，相比上期增加143.01万股。平安匠心优选混合A （008949）位居第四大流通股东，持股380.36万股，为新进股东。长城久富混合(LOF)A（162006）位 居第五大流通股东，持股296.76万股，为新进股东。平安鼎信债券A（002988）位居第六大流通股东， 持股2 ...

Group 1 - The core stock price of Lichong Group increased by 2.03% to 23.16 CNY per share, with a total market capitalization of 15.878 billion CNY as of December 25 [1] - The company has seen a year-to-date stock price increase of 45.08%, with a 5-day increase of 5.75% and a 20-day increase of 11.61%, while experiencing a 60-day decline of 3.14% [1] - Lichong Group's main business includes the research, production, and sales of aluminum alloy wheels, lightweight and functional intermediate alloy new materials, and cast aluminum alloys, with revenue composition being 54.50% from cast aluminum alloys, 33.23% from aluminum alloy wheels, 7.81% from intermediate alloys, and 4.46% from others [1] Group 2 - As of December 20, Lichong Group had 29,100 shareholders, a decrease of 1.90%, with an average of 20,517 circulating shares per shareholder, an increase of 4.80% [2] - For the period from January to September 2025, Lichong Group achieved a revenue of 22.921 billion CNY, representing a year-on-year growth of 18.34%, and a net profit attributable to shareholders of 625 million CNY, up 26.77% year-on-year [2] - The company has distributed a total of 730 million CNY in dividends since its A-share listing, with 339 million CNY distributed over the past three years [3]

Group 1 - Guangqi Technology's controlling shareholder proposed a share buyback of 50 million to 100 million yuan for employee stock ownership plans or equity incentives [1] - Xingyuan Zhuomai received a supplier designation from a domestic electric vehicle manufacturer to develop and supply reducer shell components, with expected sales of approximately 575 million yuan over four years from 2027 to 2030 [2] - Weigao Bio's application for clinical trials of subcutaneous human immunoglobulin has been accepted by the National Medical Products Administration, targeting primary immunodeficiency diseases [3] Group 2 - Hongda Electronics disclosed uncertainty regarding the IPO progress of its associate Jiangsu Zhanxin, in which it holds a 13.79% stake [4] - Kangchen Pharmaceutical received FDA approval to conduct clinical trials for its KC1086 project, aimed at treating advanced recurrent or metastatic solid tumors [5] - Kweichow Moutai adjusted its share buyback price ceiling to 1863.67 yuan per share, effective from December 19, 2025 [6] Group 3 - Mousse Co. announced that its controlling shareholder and actual controllers committed not to reduce their holdings within one year [7] - Tongxingbao's subsidiary signed a business contract worth 43.166 million yuan for a cloud expansion project [8] - Kaifa Electric announced plans for three shareholders to collectively reduce their holdings by 0.6999% [9] Group 4 - Longpan Technology plans to increase the production capacity of lithium iron phosphate cathode materials from 62,500 tons per year to 100,000 tons per year [10] - Zhuhai Guanyu announced plans for two shareholders to reduce their holdings by up to 3% [11] - Jiaheng Home Textiles is planning a change in control, leading to a temporary suspension of its stock [12] Group 5 - Kehua Bio's subsidiary received a medical device registration certificate for a gene polymorphism detection kit [13] - Saitex New Materials' actual controller plans to reduce holdings by up to 3% [14] - Sanhui Electric announced a shareholder's plan to reduce holdings by up to 2% [15] Group 6 - Binhua Co. plans to establish a venture capital fund with a total scale of 400 million yuan, focusing on strategic emerging industries [16] - Jindun Co. announced plans for two shareholders to reduce their holdings by up to 4% [17] - Hengdian East Magnetic's controlling shareholder plans to reduce holdings by up to 1% [18][19] Group 7 - Luxin Investment's controlling shareholder plans to reduce holdings by up to 1% [20] - Huakang Clean announced a joint bid for a hospital procurement project worth 157 million yuan [21] - Xuedilong plans to reduce its repurchased shares by up to 488,560 shares [22] Group 8 - Enhua Pharmaceutical's subsidiary signed an exclusive commercial cooperation agreement for three long-acting antipsychotic products [23] - Aier Eye Hospital plans to acquire partial equity in 39 institutions for a total of 963 million yuan [24] - Gaozheng Mining plans to acquire 100% equity of Overseas Explosives for 510 million yuan [25] Group 9 - Donghong Co. plans to repurchase shares worth 30 million to 60 million yuan for employee stock ownership plans [26] - Bear Electric's controlling shareholder plans to reduce holdings by up to 0.64% [27] - *ST Zhengping announced the initiation of pre-restructuring by the Xining Intermediate Court [28][29] Group 10 - Caesar Travel's shareholder plans to reduce holdings by up to 3% [30] - Lianchuang Electronics announced a change in controlling shareholder to Jiangxi State-owned Assets Supervision and Administration Commission [31] - Beixin Road and Bridge plans to transfer 5.33% equity in Henan Yuhang for 243 million yuan [32] Group 11 - Fenglong Co. is planning a change in control, with stock resuming trading [33]