Market Overview - The A-share market continues to experience a pullback, with the Shanghai Composite Index down by 0.07%, closing at 3359.90 points. The total trading volume in the Shanghai and Shenzhen markets was 10,677 billion yuan, a decrease of 1,829 billion yuan compared to the previous day [1] - There were 1,540 stocks that rose while 3,645 stocks fell, indicating a bearish sentiment in the market [1] Sector Performance - Solid-state battery concept stocks maintained strong performance, while copper foil stocks in the PCB industry surged. However, oil and gas, as well as blockchain concept stocks, showed mixed results with some hitting the daily limit up and others limit down [1] - High-profile stocks such as Jinshi Technology and Limin Co. faced consecutive limit downs [1] Competition Insights - The 63rd session of the "Digging Gold" competition concluded with the champion achieving a return of 37.25%, the runner-up at 35.15%, and the third place at 35.08%. Participants capitalized on opportunities in oil and gas, nuclear pollution prevention, and blockchain concept stocks [1][3] - A total of 488 participants achieved positive returns and will receive cash rewards, with the distribution scheduled for June 23 [1] Upcoming Events - The 64th session of the competition will start on June 23, with registration open from June 21 to June 30. Participants will trade with a simulated capital of 500,000 yuan [1][10] - Weekly cash rewards will be distributed based on performance, with the first-place winner receiving 688 yuan and subsequent positions receiving varying amounts [10] Participant Strategies - Several participants effectively utilized "Fire Line Quick Review" to seize market opportunities, particularly in methanol and strontium carbonate sectors during the competition period [7][8] - The champion's strategy involved short-term trading with stocks like Langxin Group and Chuangshi Technology yielding profits, while the runner-up focused on military and nuclear pollution prevention stocks [5][6] Market Sentiment - Experts believe the A-share market is currently in a structural market phase, with support levels at the 60-day, 90-day, and 120-day moving averages. The market is expected to exhibit a range-bound trading pattern [9] - There is a focus on dividend assets such as insurance and highways, while small-cap stocks are seen as volatile and risky for retail investors [9]

Group 1 - 24控 plans to issue shares and pay cash to acquire 98.43% of Jiangsu Aoyikes' shares, with stock resuming trading [1] - Zhimingda has secured an order worth 101 million yuan, accounting for 13.5% of last year's revenue [1] - Yibin Paper Industry (rights protection) intends to acquire 67% of a vinegar fiber company for 206 million yuan [1] Group 2 - The Central Financial Committee supports the Shanghai Futures Exchange to become world-class [1] - Fujian aims to achieve a green hydrogen production capacity of 30,000 tons per year by 2030 [1] - Positive developments include AI-driven upgrades in the PCB industry and the launch of an interbank trading report library to promote the internationalization of the digital yuan [1] Group 3 - Numerous companies have announced positive news such as equity acquisitions, order wins, and project investments, indicating a favorable trend in the A-share market [3] - Active trading by institutions and retail investors is noted, with significant purchases in Zhongchao Holdings (115 million yuan) and Hu Dian shares [1][3]

一、行情 6月20日，PCB板块迎来连续走强。诺德股份4连板，中京电子3连板，正业科技（20CM）、光华科技盘中涨停，中一科技、逸豪新材、德龙激光、铜冠铜箔 等集体走强。 二、事件：多家PCB厂商积极看好+中国台湾PCB厂商同比增速显著 1）胜宏科技6月13日的机构调研纪要显示，该公司表示坚定"拥抱AI,奔向未来",精准把握AI算力技术革新与数据中心升级浪潮带来的历史新机遇,2025年一季 度，AI算力、数据中心相关产品收入占比超过40%。 沪电股份在6月11日的调研中对机构表示，AI驱动的服务器、数据存储和高速网络基础设施需求增长以及新兴应用领域的拓展为行业带来发展机遇,市场上相 关高阶产品的产能供应并不充裕,公司近两年已加大对关键制程和瓶颈制程的投资力度,预计2025年下半年产能将得到有效改善。 2）从台湾地区PCB行业月度营收数据来看，据财信证券统计，金像电、瀚宇博4、5月的单月营收持续稳定在历史高位区间，同比增速显著。 3）随云厂商积极自研ASIC芯片，ASIC正成为AI服务器市场中与GPU并行的重要架构，进一步带动高阶PCB的需求。 展望2025年，除AWS外，谷歌、meta的新产品中，ASIC服务 ...

PCB概念板块短线拉升，诺德股份（600110）、正业科技（300410）涨停，中京电子（002579）此前封 板,中一科技（301150）、强力新材（300429）涨超10%，德福科技（301511）、江南新材 （603124）、嘉元科技、光华科技（002741）、天山电子（301379）等跟涨。 暗盘资金流向曝光！提前捕捉庄家建仓信号>> ...

Market Overview - The market experienced a significant decline today, with 716 stocks rising and 4646 stocks falling, indicating a bearish sentiment [1] - The main capital outflow reached 73.9 billion, with trading volume at 59.1 billion, reflecting a pattern of increased selling pressure [1] Sector Analysis - Key sectors such as CPU, PCB, computing power, semiconductors, consumer electronics showed adjustments, but the declines were relatively minor compared to other sectors [1] - The current phase is viewed as a consolidation period, with the mid-year report season just beginning, suggesting potential for recovery in the aforementioned sectors [1] Investment Strategy - Two sectors, rare earth permanent magnets and innovative pharmaceuticals, are identified as potential rebound opportunities, but should be approached with a short-term mindset [1] - If stocks do not show gains within two days of purchase, it is advised to exit positions to mitigate losses [1] Stock Selection - The focus is on stock selection rather than overall market performance, with an emphasis on identifying leading stocks in an upward trend [2] - The strategy involves buying during market dips to capitalize on potential rebounds, especially if no negative news emerges [2]

今天A股市场震荡走低，三大指数"跳水"下挫。其中，创新药、核电等方向领跌，机器人、半导体、 PCB等板块盘中活跃。两市成交12506亿，较上一交易日放量595亿。收盘，沪指下跌0.79%，深指下跌 1.21%，创业板指下跌1.36%，市场超4600只个股下跌。 那，两市突然"跳水"大跌，原因是什么呢？我认为有三大原因：1、美联储宣布不降息，美元指数大 涨，股市承压。虽然，市场早有预期这次美联储不会宣布降息，但听鲍威尔讲话的意思，预计未来数月 将出现更多关税驱动的物价上涨，并且预测通货膨胀率为3%，纵然点阵图显示今年降息2次，但可能也 不会降息。受到不降息预期的刺激，美元指数已经突破99了，压制股票市场。 2、PCB概念持续活跃。有机构表示，英伟达GB200/300积极拉货，2025、2026年ASIC迎来爆发式增 长，目前多家AI-PCB公司订单强劲，满产满销，正在大力扩产，二、三季度业绩高增长有望持续。 3、半导体盘中活跃。主要有两方面的原因，一方面是三大巨头，三星、SK海力士、美光宣布停产，另 一方面是国产算力产业链仍在奋力追赶，关键环节处于"强需求、弱供给"的状态，国产化率的提升，刺 激了半导体板块。 ...

各位朋友，我是帮主郑重。今天早盘这行情看得人有点揪心啊——三大指数齐刷刷下跌，创业板指更是跌了1.1%，全市场超过4600只股票飘绿，简直是"绿 油油"的一片。不过别急，咱们来慢慢捋一捋，到底是什么情况让市场突然"降温"了？ 首先看整体盘面，沪指跌了0.86%，深成指跌1.01%，北证50也跌了快1%，半天成交额就干到了8000多亿，比昨天还放量了400多亿。量能放大说明市场交易 活跃，但这么多股票下跌，很明显资金在调仓换股。可能有朋友要问了：为啥突然跌这么狠？我琢磨着，可能和这几点有关：一是最近宏观经济数据有点承 压，市场对复苏预期有点犹豫；二是前期热门板块比如AI、减肥药开始回调，资金扎堆往防御性板块跑；三是外围市场昨晚也不太稳，多少有点影响咱们 的情绪。 再说说板块表现，今天固态电池、PCB和石油板块逆势上涨，诺德股份、湘潭电化这些票直接涨停了。固态电池为啥火？听说啊，最近行业又有技术突破的 消息，加上新能源赛道调整了一段时间，估值相对合理，资金开始回流了。石油板块涨呢，可能和中东局势有点关系，之前咱们聊过美国可能打击伊朗，油 价短期有波动预期，资金就先炒起来了。 但另一边，核聚变、军工、减肥药跌得比较 ...

市场早盘震荡走低， 创业板指领跌。沪深两市半日成交额7878亿，较上个交易日放量448亿。盘面上热 点较为杂乱，个股跌多涨少，全市场超4600只个股下跌。从板块来看，机器人概念股展开反弹， 江苏 雷利涨超10%。固态电池概念股一度冲高， 丰元股份涨停。PCB概念股持续活跃， 中京电子涨停。下 跌方面，创新药概念股持续调整， 常山药业20CM跌停。板块方面，游戏、 PCB、 电池、 人形机器人 等板块涨幅居前， 可控核聚变、 港口、军工、 创新药等板块跌幅居前。截至收盘， 沪指跌0.86%， 深 成指跌1.01%，创业板指跌1.1%。 ...

Market Overview - On June 18, the A-share market experienced a slight rebound after a day of bottom testing, with the three major indices showing minor increases. The Shanghai Composite Index rose by 0.04%, the Shenzhen Component Index increased by 0.24%, and the ChiNext Index gained 0.23% [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 1.19 trillion yuan, a decrease of 16.1 billion yuan compared to the previous trading day [1] Sector Performance - The market showed a mixed performance with over 3,400 stocks declining. Notable sectors included strength in computing hardware stocks, with companies like Huadian Co. hitting the daily limit [1] - AI glasses concept stocks remained active, with Bi Yi Co. also reaching the daily limit. Conversely, rare earth permanent magnet stocks experienced a downturn, with Zhongke Magnetic Materials dropping over 10% [1] International Market - In the U.S. stock market on June 18, the Dow Jones Industrial Average fell by 44.14 points (0.10%) to close at 42,171.66 points, while the S&P 500 decreased by 1.85 points (0.03%) to 5,980.87 points. The Nasdaq Composite, however, rose by 25.18 points (0.13%) to 19,546.27 points [3][4] - European markets showed mixed results, with the FTSE 100 up by 9.44 points (0.11%) while the CAC 40 and DAX indices fell by 27.61 points (0.36%) and 116.84 points (0.50%) respectively [3][4] - International oil prices saw a slight increase, with WTI crude oil futures rising by $0.30 (0.4%) to $75.14 per barrel, and Brent crude oil futures up by $0.25 (0.33%) to $76.70 per barrel [3][4] Policy Developments - The China Securities Regulatory Commission (CSRC) released opinions on establishing a growth layer in the Sci-Tech Innovation Board to enhance institutional inclusivity and adaptability, allowing unprofitable companies to list under the fifth set of standards [5][6] - The Central Financial Committee issued opinions to accelerate the construction of Shanghai as an international financial center, aiming for significant improvements in financial system adaptability and competitiveness over the next five to ten years [7] - The CSRC announced that qualified foreign investors will be allowed to participate in ETF options trading starting October 9, 2025, as part of efforts to optimize the foreign investor system [8] Industry Insights - According to Guohai Securities, the coal mining industry continues to face supply constraints, with demand expected to fluctuate. Leading coal companies exhibit strong asset quality and cash flow, characterized by high profitability and dividends [12] - Guolian Minsheng Securities anticipates a positive outlook for the insurance sector, with life insurance new business value expected to improve and property insurance profitability gradually increasing [12] - CITIC Securities noted that the recent bidding for wind turbine procurement by State Power Investment Corporation indicates a rising trend in domestic wind turbine prices, suggesting a potential for sustained performance in the wind energy sector [12] Automotive Market - Data from the China Passenger Car Association indicated that retail sales of new energy vehicles reached 402,000 units in the first half of June, marking a 38% year-on-year increase. The retail penetration rate for new energy vehicles stood at 57% [11]

投研笔记 热点 6月18日A股探底回升，三大指数小幅上涨，但个股跌多涨少，超3400只股票下跌，成交额1.19万亿元。 PCB、军工装备、AI眼镜等板块领涨，美容护理、脑机接口等板块下跌。银行股因防御属性受资金青 睐；啤酒板块反弹，夏季消费旺季将至；军贸板块因地缘冲突升温大涨；非银金融板块因避险情绪走 弱。PCB概念股集体爆发，受Meta新一代AI芯片需求刺激；AI算力板块全线走强。拓普集团因马斯克 透露机器人新进展上涨3%。市场热点轮动较快，资金偏向防御性板块和科技成长方向。 01 A股复盘 益研究 6月18日，市场全天探底回升，三大指数小幅上涨。沪深两市全天成交额1.19万亿，较上个交易日缩量 161亿。盘面上，市场热点较为杂乱，个股跌多涨少，全市场超3400只个股下跌。 板块方面，PCB、CPO、军工装备、AI眼镜等板块涨幅居前，美容护理、草甘膦、稀土永磁、脑机接口 等板块跌幅居前。截至收盘，沪指涨0.04%，深成指涨0.24%，创业板指涨0.23%。 资料来源：益研究 02 行业热点 01 银行股早盘普涨 防御属性受资金青睐 今日早盘银行板块表现强势，上海银行、浦发银行等多家银行股价上涨。分析认为，近 ...