由于受到大摩报告的激励，面板双虎9月25日股价强势表态。其中群创早盘一度亮灯涨停，终场则大涨 4.2%、收14.8元新台币；友达盘中也差一档涨停，终场大涨3.6%、收14.1元新台币，双双攀升本波股价 反弹以来的波段高峰。 相较于下游厂商第二季度的谨慎拉货态度，大摩预期出货动能改善，将有助于面板厂提升议价能力，缓 解价格压力。展望未来，预期电视面板价格应已接近短期底部，但反弹时点可能取决于即将到来的促销 活动的最终需求。 尽管大摩预期第三季度电视面板价格将季减约 2%，因此暂时仍给予面板双虎"中立"评级，不过大摩认 为面板股情绪在电视面板价格见底之际已转向正面，有助于驱动股价正向表态。 由于受到外资摩根士丹利（大摩）证券预期电视面板价格已接近短期底部并蓄势反弹的激励，面板双虎 9月25日股价逆势强涨，其中群创盘中一度亮灯涨停、友达也逼近涨停，成为市场投资人追捧的亮点。 大摩证券指出，包括32英寸、43英寸、55英寸、65英寸与75英寸主流电视面板价格9月与8月持平，符合 预期。随电视品牌厂自8月开始为年终促销活动调整採购，预计电视面板出货量将较8月增长中个位数百 分比。 ...

9月26日，*ST宇顺再度涨停，股价来到41.31元/股，总市值115.77亿元，同时年内涨幅则达到了1060.39%。 | *ST宇顺(002289) | | --- | 今日（9月26日），*ST宇顺逆市涨停，股价报收于41.31元/股，总市值115.77亿元。 值得注意的是，年初至今，其股价涨幅已经超过 1000%，在全A股中，仅次于上纬新材（年内涨幅1891.59%）。整个ST板块，则已有9股年内涨幅超100%。 *ST宇顺股价年内涨超10倍 资料显示，*ST宇顺成立于2004年，2009年登陆深交所，主营业务为液晶显示屏及模组、触摸屏及模组、触摸显示一体化模组等产品的研 发、生产和销售。主要产品包括各类手机、平板、小家电显示屏。 公司股价今年大幅上涨或与公司筹划重大资产重组加码智算赛道有关。根据公司披露的并购重组公告，公司拟向交易对方凯星有限公司、正 嘉有限公司、上海汇之顶管理咨询有限公司支付现金购买其持有的中恩云（北京）数据科技有限公司、北京申惠碧源云计算科技有限公司、 中恩云（北京）数据信息技术有限公司100%的股权，本次收购构成《上市公司重大资产重组管理办法》规定的重大资产重组，但不构成关 联 ...

证券日报网讯 TCL科技（000100）9月26日在互动平台回答投资者提问时表示，公司高度重视市值管理 和投资者关系工作，已通过多种渠道听取投资者建议，并将继续加强信息披露与沟通，提升公司透明度 与市场认可度，依法依规推动提升公司价值。 ...

TCL科技所属申万行业为：电子-光学光电子-面板。所属概念板块包括：在线教育、证金汇金、 QLED、商汤科技概念、电子纸等。 截至6月30日，TCL科技股东户数68.64万，较上期减少6.61%；人均流通股26366股，较上期增加 7.06%。2025年1月-6月，TCL科技实现营业收入856.62亿元，同比增长6.67%；归母净利润18.84亿元， 同比增长89.26%。 分红方面，TCL科技A股上市后累计派现146.83亿元。近三年，累计派现24.91亿元。 机构持仓方面，截止2025年6月30日，TCL科技十大流通股东中，香港中央结算有限公司位居第一大流 通股东，持股8.54亿股，相比上期增加3955.58万股。中国证券金融股份有限公司位居第五大流通股东， 持股4.11亿股，持股数量较上期不变。华泰柏瑞沪深300ETF（510300）位居第六大流通股东，持股3.35 亿股，相比上期增加2723.93万股。易方达沪深300ETF（510310）位居第八大流通股东，持股2.39亿 股，相比上期增加2383.41万股。光伏ETF（515790）位居第九大流通股东，持股2.19亿股，相比上期减 少109.34万 ...

Group 1: Currency and Economic Outlook - Barclays reports that despite recent negative events, the US dollar has remained resilient, with no significant decline observed since May, even amid weak economic data and challenges to the Federal Reserve's credibility [1] - Goldman Sachs predicts that the US economy will recover in the coming months, which may support the dollar's continued strength [1] Group 2: Oil and Emerging Markets - Goldman Sachs states that a complete ban on Russian oil imports by the EU is unlikely due to reliance from certain member states like Hungary and Slovakia, and any potential ban would only redistribute oil flows rather than reduce global supply [2] - Goldman Sachs expects emerging market stocks and currencies to rise by the end of the year, raising the MSCI Emerging Markets Index target from 1,370 to 1,480 points, indicating a potential 10% upside [2] Group 3: Domestic Market Insights - Dongfang Jincheng forecasts stable and ample market liquidity by year-end, with potential for a new round of reserve requirement ratio cuts and government bond purchases [4] - CITIC Securities highlights the long video industry benefiting from favorable policies, which may enhance production capacity and efficiency for content creators [6][10] - CITIC Securities notes a recovery in the restaurant industry, with August seeing a year-on-year increase in dining revenue, suggesting structural opportunities for leading companies with strong compliance and quality [8] Group 4: Sector-Specific Developments - CITIC Securities indicates that the carbon fiber industry is in a recovery phase, with strong demand in wind energy and aerospace sectors, recommending attention to high-quality companies with international exposure [9] - China Galaxy Securities observes a slight increase in cement prices due to seasonal demand, with expectations for further price support from rising coal prices [11][12] - China Galaxy Securities also reports positive signals in panel procurement ahead of the overseas promotional season, indicating a potential peak in TV demand [13] Group 5: Electronic Materials - Huatai Securities emphasizes the importance of electronic cloth in the PCB-CCL supply chain, predicting a supply shortage for various specialty electronic cloth products until 2026, and recommends companies with rapid capacity expansion [14][15]

Group 1 - The company is accelerating the adjustment of its TV panel product structure [2] - The company is promoting the enhancement of flexible production capacity for large-size high-refresh panels [2] - The company aims to improve its profitability [2]

Core Viewpoint - The upcoming promotional season in overseas markets is expected to boost panel procurement, which serves as a leading indicator for television demand [1] Group 1: Market Trends - In the first half of the year, Korean brands experienced poor sales, leading to significant inventory reduction that impacted panel procurement demand [1] - The inventory reduction phase has ended, signaling a turnaround in panel procurement [1] Group 2: Data Insights - According to Aowei Cloud Network data, global TV panel shipments reached 22.3 million units in August 2025, representing a year-on-year increase of 7.6% and a month-on-month increase of 4.9% [1] - This positive trend has continued since July, reflecting a cyclical recovery in inventory demand [1] Group 3: Future Outlook - Global TV brands are actively preparing for the upcoming overseas promotional peaks during Black Friday and Christmas, indicating a short-term surge in overseas TV demand [1] - This anticipated demand may help mitigate some of the impacts from the domestic subsidy reduction [1]

格隆汇9月25日｜中国银河证券指出，海外下半年促销旺季即将到来，面板采购呈现积极信号：面板采 购量是电视需求的前瞻指标。上半年韩国品牌销售较差，面板一度大力去库存，影响面部采购需求，当 前去库存结束迎来转机。奥维睿沃数据，25年8月全球电视面板出货量达22.3百万片，同比+7.6%、环比 +4.9%，延续了7月以来的积极态势，反应了市场周期性的库存回补需求，全球电视品牌商正为下半年 海外黑五、圣诞促销旺季积极备货。从全球角度看，下半年海外电视需求走向短期高峰，或将平抑国内 国补退坡的部分影响。 ...

Group 1 - Tianan New Materials plans to reduce its shareholding by no more than 0.22%, totaling up to 667,000 shares, due to personal funding needs [1] - Fulongma's urban service robots are still in the initial expansion phase, primarily used for internal sanitation projects, with low external sales [1][2] - Shennma Co. intends to repurchase shares worth between 100 million and 200 million yuan, with a maximum repurchase price of 14.97 yuan per share, aiming to reduce registered capital [3] - Poly Developments plans to issue corporate bonds not exceeding 15 billion yuan, with proceeds intended for debt repayment, working capital, project construction, and acquisitions [4] - Ganli Pharmaceutical signed a significant contract for the Brazil PDP project, expected to exceed 3 billion yuan, involving the supply of insulin raw materials and injection devices over ten years [5] - Jingce Electronics' actual controller plans to transfer 5.02% of the company's shares at a price of 60.24 yuan per share [6] - ST Xingnong's shareholder intends to reduce holdings by up to 3% of the company's shares, totaling approximately 811,350 shares [7] - Zhejiang Lino plans to reduce its shareholding by up to 3.25%, involving multiple stakeholders [8] - Chuling Information holds a minor indirect stake of 0.0229% in Moer Thread through its investment in Zhongyi Fund [9] - Jinpu Titanium Industry has decided to terminate a major asset restructuring due to market uncertainties [10] - ST Lian Stone's stock will be subject to delisting risk warning following its bankruptcy reorganization application [13] - Aerospace Technology appointed Zhong Min as the new general manager [14] - Aerospace Technology's subsidiary plans to publicly transfer 50% of its intangible assets related to a drilling system [14] - Nanxing Co. plans to reduce its shareholding by up to 3.03%, with multiple executives also planning to reduce their stakes [15] - Jiangsu Guotai's actual controller is planning a non-compensatory transfer of state-owned equity, changing the actual controller to a state asset management center [16] - Yashida Optoelectronics plans to reduce its shareholding by up to 400,000 shares due to personal funding needs [17] - Yuntuo Holdings successfully acquired a 49% stake in Shenglong Mining, with plans to provide financial support for its operations [18] - Ice Wheel Environment's directors and executives plan to reduce their holdings by no more than 22,750 shares [19] - Ruijia New Materials' actual controller will change following a non-compensatory transfer of state-owned equity [20] - Zhejiang Xiantong plans to establish a joint venture with Haohai Starry Sky, investing 40 million yuan for a 10% stake [21] - Inspur Software received approval from the CSRC for a stock issuance to specific investors [22] - Chuangye Huikang's shareholder plans to reduce holdings by up to 37,038,000 shares [23]

Domestic News - The "East Data West Computing" project has led to over 1 trillion yuan in social investment, forming 8 hub nodes and 10 data center clusters, covering 14 provinces and providing approximately 80% of the intelligent computing power for the nation, promoting the development of AI, smart manufacturing, and telemedicine [1] - In the first eight months of this year, Chongqing's automobile production reached 1.659 million units, a year-on-year increase of 7.6%, with new energy vehicle production at 690,000 units, up over 31% [2] - The 11th batch of national drug centralized procurement allows medical institutions to report quantities either by generic name or specific brand, optimizing the procurement process [2] - Jiangsu Province's industrial added value increased by 6.8% year-on-year from January to August, with advanced manufacturing and high-tech manufacturing leading the growth [3] International News - The European Central Bank's council member suggested that a rate cut in December would be beneficial for achieving inflation targets and economic development [5] - Tesla has received approval to test autonomous vehicles equipped with safety monitors in Arizona, marking a significant step in expanding its autonomous taxi business [5] - The United Nations Educational, Scientific and Cultural Organization awarded the "Al-Fozan Prize" to a researcher from the Chinese Academy of Sciences for contributions to marine climate change, highlighting the importance of scientific evidence in assessing climate risks [4]