| 属 | | | | | | | --- | --- | --- | --- | --- | --- | | 通信 | 23.27 | -10.64 | 1.33 | -0.75 | -10.19 | | 国防军 | 13.44 | -14.05 | 1.25 | -1.06 | -10.38 | | 工 | | | | | | | 食品饮 | 20.45 | -4.78 | 2.28 | -0.38 | -10.45 | | 料 | | | | | | | 房地产 | 51.63 | -18.02 | 2.37 | -3.66 | -15.54 | | 公用事 | 70.72 | 13.03 | 1.79 | 0.39 | -18.36 | | 业 | | | | | | | 电力设 | 47.36 | 5.45 | 1.93 | -0.59 | -18.40 | | 备 | | | | | | | 计算机 | 56.99 | -0.84 | 3.22 | -0.54 | -20.01 | | 非银金 | 33.17 | -11.39 | 0.79 | -0.67 | -21.94 | | 融 | | | ...

工信部组织开展2025年度国家工业和信息化领域节能降碳技术装备推荐工作 智通财经4月28日电，工业和信息化部办公厅组织开展2025年度国家工业和信息化领域节能降碳技术装 备推荐工作，具体包括五类：（一）重点行业领域节能降碳技术，包括钢铁、有色金属、石化、化工、 建材、机械、轻工、纺织、电子等行业工艺革新与流程优化技术，如短流程制造等；数据中心、通信基 站、通信机房等领域节能和能效提升技术，如算力与能源协同应用、高效制冷、高效供配电、绿色智算 系统解决方案等。（二）用能低碳转型技术，包括清洁低碳氢制备及应用、高效储能、工业绿色微电网 等可再生能源消纳技术；余热余压高效利用、系统能量梯级利用、电能替代等多能高效互补技术等。 （三）工业减碳技术，包括低碳原料燃料替代、产品全生命周期碳排放降低、二氧化碳捕集及高值化转 化利用、碳排放核算监测、非二氧化碳温室气体减排与替代等低碳零碳负碳技术。（四）数字化绿色化 协同转型技术，包括数字化能碳管理等深度融合大数据、人工智能、工业互联网、5G等信息通信技 术，实现能源消费和碳排放信息采集、智能分析、精细管理和系统优化技术。（五）高效节能装备，能 效指标达到或优于相关国家标准1 ...

2025 年 4 月 28 日 总量研究 市场波动温和提升，杠铃组合或占优 ——金融工程市场跟踪周报 20250428 要点 上周市场核心观点： 上周（2025.04.21-2025.04.25，下同）A 股窄幅震荡，市场整体表现不佳。主 要宽基指数量能维持近期低位，量能择时指标仍维持谨慎信号。资金面方面，ETF 资金周度净流出，大盘宽基 ETF 为净流出主要方向。市场波动方面，主要宽基 指数截面波动率、时序波动率环比上周皆有上升。 从市场大类因子表现来看，上周市场动量因子占优。结合上证 50 指数层面表现 的相对低迷来看，后市流动性延续宽松背景下，小市值或持续占优。确定性方面， 红利优势仍将维持。"红利+小盘"杠铃组合或为市场探寻方向背景下获取相对 收益的最优选择。 上周市场各指数涨跌不一，上证综指上涨 0.56%，上证 50 下跌 0.33%，沪深 300 上涨 0.38%，中证 500 上涨 1.20%，中证 1000 上涨 1.85%，创业板指上 涨 1.74%，北证 50 指数下跌 2.16%。 截至 2025 年 4 月 25 日，宽基指数来看，上证指数、上证 50、沪深 300、中证 500、中 ...

截至4月25日，市场最新融资余额为17914.72亿元，较上个交易日环比减少54.02亿元，分行业统计，申 万所属一级行业有6个行业融资余额增加，汽车行业融资余额增加最多，较上一日增加3.84亿元；融资 余额增加居前的行业还有医药生物、房地产、轻工制造等，融资余额分别增加3.76亿元、2.50亿元、 5872.98万元；融资余额减少的行业有25个，电子、通信、电力设备等行业融资余额减少较多，分别减 少10.48亿元、6.02亿元、5.43亿元。 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 以幅度进行统计，房地产行业融资余额增幅最高，最新融资余额为299.84亿元，环比增长0.84%，其次 是轻工制造、汽车、医药生物行业，环比增幅分别为0.50%、0.45%、0.31%；融资余额环比降幅居前的 行业有美容护理、纺织服饰、钢铁等，最新融资余额分别有56.28亿元、66.72亿元、151.13亿元，分别 下降2.07%、1.66%、1.40%。（数据宝） （文章来源：证券时报网） | 有色金属 | 778.15 | -3.10 | -0.40 | | --- | --- | --- | --- | ...

Core Viewpoint - The company, 瑞尔特, has experienced a significant decline in stock price and financial performance in the first quarter of 2025, attributed to changes in trade policies and varying implementation of consumer promotion policies across regions [2][4][6]. Trading Information Summary - On April 25, 2025, 瑞尔特 closed at 6.64 yuan, down 7.52%, with a trading volume of 159,516 shares and a transaction amount of 15.95 million yuan [2][6]. - Over the past ten trading days, the stock has seen a cumulative net inflow of 6.3963 million yuan from major funds, while the stock price has decreased by 4.16% [2][6]. - As of April 25, 2025, major funds had a net inflow of 4.5314 million yuan, while retail investors experienced a net outflow of 12.5974 million yuan [2]. Shareholder and Capital Changes - As of March 31, 2025, the number of shareholders increased to 14,200, a rise of 642, or 4.73%, compared to December 31, 2024 [3][6]. - The average number of shares held per shareholder decreased from 30,800 to 29,400, with an average market value of 228,100 yuan per shareholder [3]. Performance Disclosure Highlights - In Q1 2025, 瑞尔特 reported a main revenue of 412 million yuan, a year-on-year decline of 21.24%, and a net profit attributable to shareholders of 21.48 million yuan, down 63.31% [4][6]. - For the full year 2024, the company achieved a revenue of 2.358 billion yuan, a year-on-year increase of 7.96%, driven by a 13.37% growth in the smart toilet and lid category [4][6]. - The decline in Q1 2025 revenue is primarily due to changes in trade policies and inconsistent implementation of consumer promotion policies across different regions [4][6]. Impact of Tariff Policies - The company's direct exports to North America account for 10%-15% of its overseas revenue, which is a small proportion of total revenue [7]. - The company is actively seeking alternative methods to mitigate the impact of tariff policy changes and is optimizing its export market layout to diversify its export markets [7]. Industry Price Competition Insights - The industry is currently experiencing a price war, but favorable policies, such as national subsidies, are expected to improve competition by encouraging consumers to choose higher-quality products [8]. - New national standards for water efficiency in toilets are raising the bar for market players, which may help in reducing price competition [8]. Future Product Development Directions - The focus for future smart toilet product development will be on upgrading existing features, emphasizing health, environmental sustainability, and hygiene to enhance consumer experience [9]. - The company aims for a revenue growth of 10% and a net profit growth of 9.20% in 2025, with plans to diversify market channels and expand its product matrix [9].

Group 1 - The North Exchange 50 index decreased by 2.16%, with a trading volume of 1503.29 billion, reflecting an 8% decrease week-on-week [12][17][27] - The new code switching pilot for six stocks will be launched after May Day, aimed at enhancing the recognition of the North Exchange and distinguishing it from the New Third Board [12][13][54] - The report emphasizes a cautious approach before the holiday and a non-pessimistic outlook afterward, suggesting a focus on technology sectors that have undergone sufficient adjustments [13][17][49] Group 2 - No new stocks were listed on the North Exchange this week, with a total of 265 companies currently trading [3][31] - The New Third Board saw nine new listings and 18 delistings, with no new financing plans and a completed financing of 0.50 billion [4][55] - The report highlights the performance of specific companies, with notable gains for Fangda New Materials and Zhongyu Technology, while companies like Minshida and Kangbiter faced significant declines [39][40][42] Group 3 - The average PE (TTM) for the North Exchange is 78.81 times, with a median of 47.08 times, indicating a higher valuation compared to other exchanges [24][26] - The report notes that the financing balance for margin trading on the North Exchange increased to 53.14 billion, reflecting a slight rise from the previous week [30][27] - Key announcements include the issuance of guidelines for share changes and updates to the listing rules by the Beijing Stock Exchange [49][51]

以下文章来源于肖小跑 ，作者肖小跑 肖小跑 . 金融世界不讲道理的时候，向文史哲求救，大概率"叮"的一下就扣上了。因为在这里，您才能再次看到"人"：人的情绪，人的荒诞，人的大举 动小动作。这里有世界最本质的规律。 本文来自微信公众号： 肖小跑 ，作者：肖小跑，头图来自：视觉中国 虽然一切还没完全落地封死，但所有人都感觉到了让人喘不上气来的不确定性，和说不出具体在哪个位置的痛感。但这痛感落在每个人身上的分量是 不同的。"不惜一切代价"永远是有代价的。 目前我们听得到的声音，主要来自有时间、有精力、还有很大余地坐在桌前写文章、写小作文、发帖子、录播客的人。他们的痛感级别并不大，目前 内心热血澎湃，且看泱泱大国如何惩治恶霸。我也是其中一员，大家坐在舒适区里指点江山。 但那些没有发声的、发不出声的、没时间发声的人、企业和国家们，大概率痛感级别很大，六神无主。而他们才是大多数——包括外贸老板、凌晨三 点翻着汇率走势图的贸易人、已经搬去东南亚建厂的老板们、刚刚做了决定交了定金，但现在不知是否该继续"走出去"的老板们；还有大量刚刚有点 信心，现在又有点熄火的民营企业家们。 也包括那些夹在两个大国中间，但没有什么选择的小国家 ...

受访者由看好消费板块转向人形机器人等板块。 本周（4月21日至4月25日），A股市场成交放量，连续5个交易日成交额维持在万亿元以上。本周，沪指累计上涨0.56%，深证成指上 涨1.38%，创业板指上涨1.74%，沪深300上涨0.38%。 | 名称 | 年初至今 | 本周涨跌幅 | | --- | --- | --- | | | (%) | (%) | | 中证1000 | -0.31 | 1.85 | | 创业板指 | -9.08 | 1.74 | | 深证成指 | -4.78 | 1.38 | | 中证500 | -1.72 | 1.20 | | 上证指数 > | =1.69 | 0.56 | | 沪深300 | -3.76 | 0.38 | | 科创50 | 1.58 | -0.40 | | 北证50 | 25.28 | -2.16 | 从盈亏情况来看，本周有42%的受访者"盈利10%以内"，较上一期29%的比例大幅增长13个百分点；"亏损10%以内"的受访者占比 34%，上一期占比42%；"亏损10%到20%"的受访者占比11%，较上期继续下降2个百分点。 35%受访者认为大盘将站上3300点 对目前 ...

- The diffusion index model triggered a right-side buy signal at the close of trading on Tuesday, April 25, 2025 [6][14][33] - The first threshold method triggered a full position signal at the close of trading on April 7, 2025 [36] - The delayed threshold method gave an open position signal at the close of trading on April 22, 2025 [40] - The dual moving average method gave a short position signal at the close of trading on March 12, 2025 [41] Model Testing Results - Diffusion index model, weekly return 2.52% [43] - First threshold method, signal value 0.0225 [36] - Delayed threshold method, signal value not specified [40] - Dual moving average method, signal value not specified [41] Quantitative Factors and Construction - Factor name: Momentum factor; Construction idea: Based on the stock's price momentum; Construction process: Calculated using the rank IC method, weekly rank IC value 0.221, historical average -0.003 [5][13][27] - Factor name: Logarithmic market capitalization factor; Construction idea: Based on the logarithm of the stock's market capitalization; Construction process: Calculated using the rank IC method, weekly rank IC value 0.196, historical average -0.032 [5][13][27] - Factor name: Non-linear market capitalization factor; Construction idea: Based on the non-linear transformation of the stock's market capitalization; Construction process: Calculated using the rank IC method, weekly rank IC value 0.196, historical average -0.032 [5][13][27] - Factor name: Single-quarter ROE factor; Construction idea: Based on the stock's return on equity for a single quarter; Construction process: Calculated using the rank IC method, weekly rank IC value 0.19, historical average 0.025 [5][13][27] - Factor name: PE TTM reciprocal factor; Construction idea: Based on the reciprocal of the stock's price-to-earnings ratio trailing twelve months; Construction process: Calculated using the rank IC method, weekly rank IC value 0.189, historical average 0.02 [5][13][27] Factor Testing Results - Momentum factor, weekly rank IC value 0.221, historical average -0.003 [5][13][27] - Logarithmic market capitalization factor, weekly rank IC value 0.196, historical average -0.032 [5][13][27] - Non-linear market capitalization factor, weekly rank IC value 0.196, historical average -0.032 [5][13][27] - Single-quarter ROE factor, weekly rank IC value 0.19, historical average 0.025 [5][13][27] - PE TTM reciprocal factor, weekly rank IC value 0.189, historical average 0.02 [5][13][27]