分行业来看，申万所属的一级行业中，今日上涨的有11个，涨幅居前的行业为商贸零售、美容护理，涨 幅为1.63%、1.19%。跌幅居前的行业为通信、电子，跌幅为8.48%、5.08%。 行业资金流向方面，今日仅有3个行业主力资金出现净流入，银行行业上涨0.79%，全天净流入资金 29.25亿元；商贸零售行业上涨1.63%，全天净流入资金18.65亿元；美容护理行业上涨1.19%，全天净流 入资金8332.65万元。 主力资金净流出的行业有28个，电子行业主力资金净流出规模居首，今日下跌5.08%，全天净流出资金 223.41亿元，其次是计算机行业，今日跌幅为3.17%，净流出资金为151.59亿元，净流出资金较多的还 有通信、有色金属、机械设备等行业。 9月4日，沪指下跌1.25%，深成指下跌2.83%，创业板指下跌4.25%，沪深300指数下跌2.12%。可交易A 股中，上涨的有2297只，占比42.41%，下跌的2990只。 资金面上，今日主力资金全天净流出925.47亿元，已连续9个交易日资金呈净流出状态。其中，创业板 主力资金净流出286.36亿元；科创板主力资金净流出141.76亿元；沪深300成份股主 ...

沪指9月4日下跌1.25%，申万所属行业中，今日上涨的有11个，涨幅居前的行业为商贸零售、美容护 理，涨幅分别为1.63%、1.19%。美容护理行业位居今日涨幅榜第二。跌幅居前的行业为通信、电子， 跌幅分别为8.48%、5.08%。 资金面上看，两市主力资金全天净流出925.47亿元，主力资金净流入的行业仅有3个，银行行业净流入 资金29.25亿元；商贸零售行业净流入资金18.65亿元；美容护理行业净流入资金8332.65万元。 （文章来源：证券时报网） 美容护理行业今日上涨1.19%，全天主力资金净流入8332.65万元，该行业所属的个股共29只，今日上涨 的有24只，涨停的有2只；下跌的有5只。以资金流向数据进行统计，该行业资金净流入的个股有19只， 其中，净流入资金超千万元的有7只，净流入资金居首的是依依股份，今日净流入资金7621.29万元，紧 随其后的是拉芳家化、青岛金王，净流入资金分别为2132.63万元、2029.14万元。美容护理行业资金净 流出个股中，资金净流出超千万元的有5只，净流出资金居前的有爱美客、嘉亨家化、水羊股份，净流 出资金分别为4899.63万元、1238.29万元、1129. ...

9月4日，A股市场整体下跌。 截至收盘，上证指数收报3765.88点，下跌1.25%，深证成指收报12118.7点，下跌2.83%，创业板指收报 2776.25点，下跌4.25%，北证50指数下跌0.8%。A股市场合计成交25822.18亿元，较上一交易日增加 1861.15亿元。 1. A股市场全天主力资金净流出676.8亿元 今日A股市场主力资金开盘净流出88.43亿元，尾盘净流出62.52亿元，全天净流出676.8亿元。 | | | 沪深两市近五日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | 净流入金额 开盘净流入 | | 尾盘净流入 超大单净买入 | | 2025-9-4 | -676. 80 | -88. 43 | -62.52 | -393. 14 | | 2025-9-3 | -479.12 | -51.09 | -97. 71 | -202. 78 | | 2025-9-2 | -1196. 85 | -404. 51 | -93.05 | -719.76 | | 2025-9-1 | -364. 22 | -183. ...

证券研究报告 | 策略点评 2025 年 09 月 04 日 投资要点 分析师：孟之绪 执业编号：S0300524080001 电话： 邮箱：mengzhixu@ykzq.com 投资策略研究 粤开市场日报-20250904 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 1.25%，收报 3765.88 点；深证成指跌 2.83%，收报 12118.70 点；科创 50 跌 6.08%，收报 1226.98 点；创业板指跌 4.25%，收报 2776.25 点。总体上，全天个股涨跌参 半，Wind 数据显示，全市场 2990 只个股下跌，2295 只个股上涨，140 只个股 收平。沪深两市今日成交额合计 25443 亿元，较上个交易日放量 1801.71 亿 元。 行业涨跌情况：今日申万一级行业涨少跌多，商贸零售、美容护理、银行、 社会服务、纺织服饰、煤炭等行业领涨，通信、电子、综合、有色金属、国 防军工、计算机等行业领跌。 板块涨跌情况：今日涨幅居前概念板块为冰雪旅游、乳业、首发经济、预制 菜、鸡产业、宠物经济、水产、免税店、央企银行、人造肉、动力电池、饲 料精选、离境退税、光伏逆 ...

消费板块起飞 今天，消费板块表现活跃。零售、饮料制造、食品加工制造、旅游及酒店、美容护理、乳业、免税店、预制菜等相关板块均抱团向上。 在消息面上，据文旅部数据， 2025年暑期国内旅游人次达14.3亿，恢复至2019年同期的112%水平，旅行服务进出口规模首次突破万亿元大关。中秋国庆 假期预订数据显示，出境游咨询量同比增长230%，国内长线游预订量超疫情前30%。 财通证券发布的研究报告显示， 此前商务部称，拟于9月推出扩大服务消费的若干政策措施。宴席补贴、消费券等直接刺激措施将直接提升餐饮消费额， 尤其婚宴、团餐等场景受益明显。餐供行业目前正处于周期底部逐步修复回暖的阶段，当前仍面临竞争加剧的影响，但伴随政策端持续加码，看好后续行 业终端需求的逐步恢复，持续看好政策预期下的顺周期板块机会。 9月4日，A股三大指数集体回调。截至收盘，沪指跌1.25%，收报3765.88点；深证成指跌2.83%，收报12118.70点；创业板指跌4.25%，收报2776.25点。沪 深京三市成交额达到25819亿元，较昨日增量1862亿元。 行业板块涨少跌多，零售、饮料制造、食品加工制造、旅游及酒店、美容护理等消费板块涨幅居前 ...

半导体股集体下跌，东芯股份跌超17%，寒武纪跌超14%，长光华芯、赛微电子、海光信息、华虹公司跌超10%。 | 代码 | 名称 | 现价 . | 涨跌 | 涨幅◆ | | --- | --- | --- | --- | --- | | 688110 | 东芯股份 | 99.04 | -20.34 | -17.04% | | 688167 炬光科技 | | 112.50 | -20.17 | -15.20% | | 688526 | 寒武纪-U | 1202.00 | -203.00 | -14.45% | | 688048 | 长光华芯 | 69.48 | -10.33 | -12.94% | | 300456 | 赛微电子 | 22.71 | -2.97 | -11.57% | | 688041 | 海光信息 | 173.28 | -21.70 | -11.13% | | 688347 | 华虹公司 | 69.35 | -8.54 | -10.96% | | 688286 | 敏芯股份 | 93.27 | -11.43 | -10.92% | | 688135 利扬芯片 | | 26.80 | -3.23 ...

A股市场板块涨跌幅排行 板块方面，零售、美容护理、饮料制造等涨幅居前，半导体、通信设备、元件等跌幅居前。 中国经济网北京9月4日讯 A股三大指数集体下跌，截至收盘，上证指数报3765.88点，跌幅1.25%，成交 额11078.92亿元；深证成指报12118.70点，跌幅2.83%，成交额14363.65亿元；创业板指报2776.25点，跌幅 4.25%，成交额7117.29亿元。 | 序号 | 板块 | 涨跌幅(%)▼ | 总成交量(万手) ▼ | 总成交额(亿元) ▼ | 净流入 (亿元) ▼ | 上涨家数 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 零售 | 2.89 | 6139.04 | 357.49 | 16.78 | ਦਰ | | | 2 | 美容护理 | 2.52 | 316.22 | 73.91 | 0.71 | 26 | | | 3 | 饮料制造 | 2.42 | 861.54 | 131.26 | 3.59 | 38 | | | র্ব | 食品加工制造 | 2.41 | 1052.53 | 130.96 | 8 ...

25H1 毛利率同比+2.3pct，净利率稳中有进。1）毛利率方面，25H1 毛利率为49.3%，同比+2.3pct。2） 费用率方面，25H1 销售/管理/研发费用率分别为17.19%/16.22%/1.44%，同比变化 +0.52pct/+0.30pct/+0.01pct。3）净利率方面，25H1 净利率为11.70%，同比+0.62pct。 机构：民生证券 研究员：解慧新 事件：美丽田园发布2025 年半年度报告。25H1 实现营收14.6 亿元，同比+28.2%；净利润1.7 亿元，同 比+35.5%；公司拥有人应占溢利1.56 亿元，同比+34.9%；每股基本盈利0.68 元。 三大业务协同高增，亚健康医疗营收翻倍。分业务来看：25H1，1）美容和保健服务，实现营收8.1 亿 元，同比+29.6%，占总营收55.2%，其中，直营店收入7.4 亿元，同比+31.0%，占总营收50.6%，主要系 高端美容服务同店收入提升及收购整合智能美养品牌奈瑞儿所致，加盟及其他收入6746.3 万元，同比 +16.2%，占总营收4.6%，主要系收购智能美养品牌奈瑞儿使得加盟门店数量增加所致。2）医疗美容服 务，实现营 ...

跌幅前五的行业分别是半导体-4.21%、贵金属-3.37%、通信设备-2.73%、航天航空-2.67%、电子化学品-2.46%。 | 指数 | 最新 | 涨跌幅 | | --- | --- | --- | | 上证指数 | 3738.32 | -1.97% | | 深证成指 | 12176.9 | -2.37% | | 创业板指 | 2806.63 | -3.2% | | 沪深300 | 4349.89 | -2.47% | （记者 谭玉涵） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每经AI快讯：北京时间9月4日11:30，上证指数早盘下跌75.24点，跌幅为1.97%，报收3738.32点，成交额6894.51亿元；深证成指 下跌295.1点，跌幅为2.37%，报收12176.9点，成交额9055.72亿元；创业板指下跌92.74点，跌幅为3.2%，报收2806.63点，成交 额4549.01亿元；沪深300下跌109.94点，跌幅为2.47%，报收4349.89点，成交额4882.93亿元。 涨幅前五的行业分别是旅游酒店2.82%、商业百货2.79%、电池2. ...

Group 1 - The report highlights that SAIC Motor Corporation achieved a total revenue of 299.59 billion yuan in H1 2025, representing a year-on-year increase of 5.2%, while the net profit attributable to shareholders was 6.02 billion yuan, a decrease of 9.2% [4][5] - The company reported a significant increase in non-recurring net profit, which reached 5.43 billion yuan, up 432.2% year-on-year, indicating strong operational performance despite challenges [4][5] - The sales volume of SAIC Motor's vehicles in H1 2025 was 2.053 million units, an increase of 12.4% year-on-year, with a notable 40.2% increase in new energy vehicle sales [5][6] Group 2 - Shenzhou Taiyue's H1 2025 revenue was 2.685 billion yuan, down 12.05% year-on-year, with a net profit of 509 million yuan, reflecting a decline of 19.26% [11][12] - The gaming segment contributed 75.53% of total revenue, with a significant drop in revenue from major titles, indicating a need for new product launches to drive growth [12][13] - The company is expected to enter a three-year product cycle from 2025 to 2027, with multiple new games set to launch, which could enhance revenue streams [12][14] Group 3 - Lemon Film's H1 2025 revenue reached 401 million yuan, a remarkable increase of 108.5% year-on-year, with a net profit of 10.82 million yuan, compared to a loss in the previous year [17][18] - The growth was driven by overseas distribution and short drama business expansion, alongside effective cost control measures [18][19] - The company is positioned as a leader in the long drama industry, with strong content production capabilities and a focus on overseas and short drama markets [21][22] Group 4 - Jinshi Resources reported a revenue of 1.726 billion yuan in H1 2025, a year-on-year increase of 54.24%, primarily due to the release of production capacity in fluorochemical products [23][24] - The company faced a net profit decline of 24.74% due to operational challenges and increased costs associated with mining projects [24][25] - The strategic shift towards global resource integration is expected to yield long-term benefits, with projected revenues of 3.727 billion yuan in 2025 [27][28] Group 5 - Zhongke Chuangda's H1 2025 revenue was 3.299 billion yuan, up 37.44% year-on-year, with a net profit of 158 million yuan, reflecting a growth of 51.84% [29][30] - The smart IoT business saw a remarkable growth of 136%, becoming the fastest-growing segment, while the smart automotive and software businesses maintained steady expansion [30][31] - The company is expected to continue leading in the edge AI sector, with projected revenues of 6.533 billion yuan by 2027 [35] Group 6 - Sound Group Inc. achieved a total revenue of 1.358 billion yuan in H1 2025, a 46.9% increase year-on-year, with a net profit of 68 million yuan, marking a turnaround from losses [39][42] - The audio entertainment segment remains the core revenue driver, while AI-related services are expected to enhance growth potential [39][40] - The company is focusing on user engagement and content creation to improve monetization and user retention [41][42] Group 7 - Beautiful Field Medical Health reported a revenue of 1.459 billion yuan in H1 2025, a 28.2% increase year-on-year, with a net profit of 171 million yuan, reflecting a growth of 35.5% [44][45] - The growth was driven by an increase in active members and the expansion of health services, particularly in the sub-health sector [45][46] - The company is expected to maintain a strong growth trajectory, with projected revenues of 3 billion yuan by 2027 [46]