【导读】 A 股三大股指高开，国防军工板块集体走强 中国基金报记者 张舟 大家好，新的一周开始了，基金君和你一起关注今天早盘的市场行情。 11 月 24 日， A 股三大股指集体高开，沪指开盘报 3848.66 点，涨 0.36% ，深证成指涨 0.53% ，创业板指涨 0.9% 。 截至发稿，沪深两市交易额突破 5000 亿元， A 股三大股指有所回调。 从板块看，国防军工、风电设备、可控核聚变板块领涨，中船系、光模块（ CPO ）、水产、 培育钻石概念股板块拉升；而此前涨幅明显的锂矿、两岸融合、摩尔线程、贵金属概念板块 出现回调。 国防军工板块盘初拉升 11 月 24 日开盘， A 股军工装备板块盘初拉升，领涨市场。卫星互联网、商业航天、军工信 息化等概念板块纷纷拉涨。 | 代码 | 名称 | 现价 | 涨跌幅▼ | 总市值1 年初至今涨跌 | | | --- | --- | --- | --- | --- | --- | | 688523 | 航天环宇 | 29.77 | 19.99% | 121亿 | 48.85% | | 002413 | 雷科防务 | 6.37 | 10.02% | 84亿 | 4 ...

Core Viewpoint - The military industry sector is experiencing a strong upward trend, driven by the announcement of the commercial trial of satellite IoT services in China, which aims to enhance market supply and support the development of new industries such as commercial aerospace and low-altitude economy [1]. Group 1: Industry Developments - On November 22, the Ministry of Industry and Information Technology announced the official launch of commercial trials for satellite IoT services, with a trial period of two years [1]. - The goal of the satellite IoT commercial trials is to enrich the satellite communication market supply, stimulate market vitality, enhance service capabilities, and establish a safety supervision system [1]. - The year 2025 is highlighted as a critical year for achieving national goals and completing the 14th Five-Year Plan, with expectations for more supportive policies for the commercial aerospace industry [1]. Group 2: Market Performance - As of 10:18 AM on November 24, the CSI High-end Equipment Sub-index 50 rose by 2.41%, with notable stock performances including Jiuzhiyang up by 15.72% and China Aerospace Defense up by 9.53% [1]. - The top ten weighted stocks in the CSI High-end Equipment Sub-index 50 account for 45.96% of the index, including companies like AVIC Shenyang Aircraft, Aero Engine Corporation, and China Satellite [2]. Group 3: Investment Opportunities - Investors can consider the CSI High-end Equipment Sub-index 50 ETF (159638) for exposure to leading companies in aerospace, military equipment, and satellite navigation sectors [2]. - The market offers opportunities for off-market investors to engage through the CSI High-end Equipment Sub-index 50 ETF linked fund (018028) to capitalize on industry rotation [3].

11月24日，航天科技涨5.11%，截至发稿，报18.50元/股，成交4.11亿元，换手率2.84%，总市值147.67 亿元。 资料显示，航天科技控股集团股份有限公司位于北京市丰台区海鹰路6号院2号楼，成立日期1999年1月 27日，上市日期1999年4月1日，公司主营业务涉及车联网及工业物联网、航天应用产品、汽车电子、石 油仪器设备和电力设备。主营业务收入构成为：汽车电子84.98%，航天应用产品9.36%，平台软件及感 知设备6.62%，其他业务0.31%。 从航天科技十大流通股东角度 数据显示，国泰基金旗下1只基金位居航天科技十大流通股东。国泰中证军工ETF（512660）三季度减 持102.58万股，持有股数544.33万股，占流通股的比例为0.68%。根据测算，今日浮盈赚取约489.89万 元。 国泰中证军工ETF（512660）成立日期2016年7月26日，最新规模141.09亿。今年以来收益9.68%，同类 排名3371/4208；近一年收益4.53%，同类排名3380/3981；成立以来收益14.25%。 国泰中证军工ETF（512660）基金经理为艾小军。 截至发稿，艾小军累计任职时间11 ...

下面我们来看下今日龙虎榜情况： 高位股方面，合富中国复牌后再度涨停走出15天13板，九牧王上演"天地天"晋级7连板，航天发展、中 水渔业5连板，榕基软件4连板。 龙虎榜单日净卖出额前三为多氟多、国联水产、好当家，分别为3.04亿元、1.67亿元、1.19亿元。 11月20日，沪深两市成交额1.71万亿，较上一个交易日缩量177亿。板块方面，海南、盐湖提锂、小金 属、银行等板块涨幅居前，乳业、美容护理、光伏设备、食品加工等板块跌幅居前。 | 代码 | 名称 | 涨幅 | 现价 涨停分析 儿天儿板 | | --- | --- | --- | --- | | 603122 | 合富中国 | +10.00% | 26.18 两岸医疗+体外诊断+非理性 15天13板 | | 601566 | 九牧王 | +9.98% | 18.41 海峡两岸+男裤+业绩高增+? 7连板 | | 000547 | 航大发展 | +9.98% | 13.78 商业航天+海峡两岸+亏损收 5连板 | | 000798 | 中水海V | +10.02% | 13.72 元洋渔业+国企改革+业绩增 5连板 | | 002474 | 榕基软件 | ...

11月19日，市场窄幅震荡，沪指、创业板指均收红。 热门ETF中，截至收盘，上海金ETF（159830）成交额超5300万，换手率超2.4%。资金流向上，据Wind 数据，截至11月18日，该ETF近20个交易日获资金累计净流入6.19亿元，净流入率为37.65%，居同标的 首位。 中证A500ETF天弘（159360）成交额超4000万元，成分股中，航天发展、春风动力、合盛硅业等股涨 幅居前。 上海金ETF（159830）紧密跟踪上海金（SHAU.SGE）；费率方面，上海金ETF（159830）管理费率 0.25%，基金托管费率为0.05%，均低于同标的产品平均水平，同时该ETF支持T+0交易。该ETF还配置 了场外联接基金（联接A：014661，联接C：014662）。 中证A500ETF天弘（159360）紧密跟踪中证A500指数，该指数从各行业选取市值较大、流动性较好的 500只证券作为指数样本，以反映各行业最具代表性上市公司证券的整体表现。 消息面来看，据21世纪经济报道，当地时间11月12日，亚特兰大联储主席博斯蒂克意外宣布将于2026年 2月28日任期届满时退休。需要注意的是，博斯蒂克是"鹰派" ...

具体来看，今日上榜的营业部中，深股通为第二大买入营业部及第三大卖出营业部，买入金额为 4291.83万元，卖出金额为7032.33万元，合计净卖出2740.50万元。 资金流向方面，今日该股主力资金净流出1.06亿元，其中，特大单净流出1.10亿元，大单资金净流入 352.74万元。近5日主力资金净流入6.60亿元。 融资融券数据显示，该股最新（11月18日）两融余额为9.34亿元，其中，融资余额为9.32亿元，融券余 额为221.65万元。近5日融资余额合计增加2.83亿元，增幅为43.62%，融券余额合计增加61.82万元，增 幅38.68%。（数据宝） 航天发展11月19日交易公开信息 航天发展今日涨停，全天换手率11.65%，成交额22.89亿元，振幅4.59%。龙虎榜数据显示，深股通净卖 出2740.50万元，营业部席位合计净卖出1.19亿元。 深交所公开信息显示，当日该股因日涨幅偏离值达10.50%上榜，深股通净卖出2740.50万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交6.15亿元，其中，买入成交额为2.34亿 元，卖出成交额为3.81亿元，合计净卖出1.46亿元。 卖五 ...

Group 1 - A-shares experienced a strong afternoon rally, with the Shanghai Composite Index closing in the green, supported by sectors such as shipbuilding, deep-sea technology, lithium mining, gold and jewelry, insurance, and industrial metals [1] - The A500 ETF fund (512050) saw a notable increase of 0.17%, with a turnover rate of 27.61% and a trading volume exceeding 5.3 billion yuan, ranking first among comparable funds [1] - Key stocks such as Aerospace Development and Spring Breeze Power reached their daily limit up, while companies like Chengxin Lithium, Zhongjin Gold, Chifeng Jilong Gold, Tianqi Lithium, and Shandong Gold showed significant gains [1] Group 2 - UBS China’s 2026 outlook report predicts another prosperous year for the Chinese stock market, driven by favorable factors including developments in innovative sectors [1] - The MSCI China Index is projected to reach a target of 100 by the end of next year, indicating a potential upside of 14% from current levels [1] - Earnings per share for Chinese companies are expected to grow by 10% in 2026, with a positive outlook for sectors such as internet, hardware technology, and brokerage firms [1] Group 3 - Shenwan Hongyuan forecasts that the technology structural bull market in 2025 represents the "Bull Market 1.0" phase, with a potential peak in spring 2026 [2] - The second half of 2026 may initiate a comprehensive bull market, termed "Bull Market 2.0," driven by the sequential emergence of policy, market, and economic bottoms [2] - The upcoming bull market is anticipated to be characterized by a "technology bull" or "China influence enhancement bull," supported by cyclical improvements in fundamentals, strengthening trends in emerging industries, and a shift in resident asset allocation towards equities [2]

消息面：搭载祖冲之三号同款芯片的超导量子计算机天衍-287已完成搭建。阿里巴巴正式宣布千问项目，全 力进军AI to C市场，当天千问APP公测版上线。华为将在11月21日发布AI领域的突破性技术，是通过软件创 新实现英伟达、昇腾及其他三方算力的统一资源管理与利用，屏蔽算力硬件差异，为AI训练推理提供更高效 的资源支撑。 低开低走后探底回升，但整体依然弱势，截止午盘三大指数集体收跌。其中沪指下跌0.43%，深成指下跌 0.35%，创业板指下跌0.8%。两市合计超2900只个股下跌，合计成交额1.27万亿。 福建板块再度爆发，其中厦工股份、平潭发展等10余股涨停。AI应用概念快速走强，包括三六零等在内的多 股涨停。军工板块延续强势，其中航天发展2连板。锂矿概念表现活跃，其中大中矿业3连板。 贵金属大幅低开后始终维持在低位盘整，截止午盘大跌2.56%、其中招进黄金大跌4.01%，湖南白银下跌 3.94%，赤峰黄金下跌3.1%，西部黄金、晓程科技等多股跌幅均在2%上方。医药股出现分化，其中济民健 康、药易购大幅下挫。 ...

Market Overview - The A-share market experienced a decline across the board, with the Shanghai Composite Index falling by 0.46% to close at 3972.03, the Shenzhen Component Index down by 0.11% at 13202.00, and the ChiNext Index decreasing by 0.20% to 3105.20 [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 19,303 billion, a decrease of 501 billion from the previous day [1] Sector Performance - The military, energy metals, and Fujian sectors showed gains, while precious metals and photovoltaic sectors underwent adjustments [1] - The rare metals sector led the gains, with ETFs such as the Jiashi Fund Rare Metals ETF and the Guangfa Fund Rare Metals ETF both rising by 3.6% [3] - The software sector also performed well, with the Huazhang Fund Software ETF and the Southern Computer ETF increasing by 2.56% and 2.42%, respectively [3] - AI hardware stocks rebounded, with various AI ETFs rising by 2.2% [3] - Conversely, the innovative drug sector declined, with the Guotai and Huitianfu ETFs dropping by 2.7% and 2.58% [3] - Gold stocks experienced a broad pullback, with gold stock ETFs falling by 2.57% and 2.4% [3]

Market Overview - The A-share market experienced a collective pullback on November 17, with the Shanghai Composite Index closing at 3973.31 points, down 0.43%, while the Shenzhen Component and ChiNext Index fell by 0.35% and 0.8% respectively [1][2]. Trading Volume and Stock Performance - The trading volume in the Shanghai and Shenzhen markets reached 1.27 trillion yuan, an increase of 329 billion yuan compared to the previous trading day. A total of 2337 stocks rose, with 79 hitting the daily limit, while 2960 stocks declined [2]. Lithium Mining Sector - The lithium mining sector showed significant strength, with stocks such as Shengxin Lithium Energy (002240), Rongjie Co. (002192), and Dazhong Mining (001203) all hitting the daily limit of 10%. Shengxin Lithium Energy's year-to-date increase is 160.74% [3][4]. - The National Energy Administration's recent guidance on the development of 100% renewable energy bases and the projected demand for lithium carbonate to grow by 30% by 2026, reaching 1.9 million tons, supports long-term demand for lithium [5]. Cross-Strait Integration Sector - The Fujian Free Trade Zone sector saw a surge, with stocks like Pingtan Development (000592) achieving a remarkable 14 consecutive trading limits. The stock has increased by 255.19% since its rise began on October 17 [6][7]. Aerospace and Defense Sector - The aerospace and defense sector continued to perform well, with companies like Changcheng Aerospace (601606) and Aerospace Development (000547) hitting the daily limit. The sector's strong performance is reflected in the significant year-to-date increases for these stocks [9][10]. AI Application Sector - The AI application sector was notably active, with stocks such as Xuanya International (300612) and Dahua Intelligent (002512) hitting the daily limit. The sector is buoyed by upcoming technological breakthroughs from Huawei in AI [11][13]. Precious Metals and Innovative Pharmaceuticals - The precious metals sector faced declines, with companies like Shengda Resources (000603) and Zhaojin Gold (000506) leading the downturn. The innovative pharmaceuticals sector also saw declines, with stocks like Kexing Pharmaceutical and Kanglong Chemical (300759) dropping over 6% [14][16].