[Table_StockNameRptType] 策略研究 市场点评 [Table_RptDate] 报告日期： 2025-6-26 [Table_Author] 策略分析师：郑小霞 执业证书号：S0010520080007 电话：13391921291 邮箱：zhengxx@hazq.com 策略分析师：刘超 6 月 25 日创业板大涨，从行业上涨结构看，为创业板上涨贡献颇多的主要 是证券行业大涨，其原因在于港股券商强势表现的情绪传导，其背后催化 在于香港证监会批准国泰君安国际升级虚拟资产交易牌照，这为近期活跃 的稳定币主题在证券板块实现了联动，受此影响国泰君安国际港股收涨近 200%，同时也催化 A 股证券板块。 此外，国防军工大涨也提供一定贡献，原因在于近日存在较多催化剂：一 是 6 月 24 日官宣将于 9 月 3 日举行阅兵活动，即中国人民抗日战争暨世界 反法西斯战争胜利 80 周年纪念活动。二是上海合作组织成员国国防部长会 议参会国国防部长在青岛会见，其中包括伊朗、巴基斯坦、俄罗斯等今年 来地缘政治冲突热点地区的直接参与方，军工出口预期再起。 ⚫ 站上新中枢，积聚新力量，再做新突破 潜在流动性足、 ...

证券研究报告 2025 年 06 月 26 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3455.97 | 1.04 | | 深证成指 | 10393.72 | 1.72 | | 创业板指 | 2128.39 | 3.11 | | 科创 50 | 995.61 | 1.73 | | 北证 50 | 1437.63 | 1.38 | | 沪深 300 | 3960.07 | 1.44 | A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 670810 | 520312 | 12.38 | 1.28 | | 深证成指 | 228707 | 186901 | 20.29 | 2.15 | | 创业板指 | 59752 | 47299 | 27.87 | 3.87 | | 科创 50 | 34795 | 22984 | 54.42 | 4.17 | | 北证 50 | ...

Market Overview - The A-share market continues to rebound with increased trading volume, and the Shanghai Composite Index reached a new high for the year at 3455.97, up by 1.04% [1][3] - The Shenzhen Component Index rose by 1.72% to 10393.72, while the ChiNext Index increased by 3.11% to 2128.39, indicating strong market performance across various indices [1][3] Sector Performance - The top-performing sectors include Non-bank Financials (up 4.46%), Defense and Military (up 3.36%), and Computers (up 2.99%) [2] - Conversely, the worst-performing sectors were Coal (down 1.00%), Oil and Petrochemicals (down 0.57%), and Transportation (down 0.21%) [2] Concept Index Performance - Leading concept indices included Internet Insurance (up 4.17%), Futures Concept (up 4.12%), and Domestic Aircraft Carriers (up 3.92%) [2] - The lagging concept indices were Combustible Ice (down 1.25%), Glyphosate (down 0.78%), and Russia-Ukraine Conflict Concept (down 0.69%) [2] Future Outlook - The market is expected to maintain its upward trend, supported by strong performance in the financial sector and a favorable macroeconomic environment [4] - The total trading volume in the Shanghai and Shenzhen markets reached 1.6 trillion yuan, an increase of 188.2 billion yuan from the previous trading day, indicating heightened investor activity [4] - Analysts suggest focusing on sectors such as finance, machinery, consumer goods, and TMT (Technology, Media, and Telecommunications) for potential investment opportunities [4]

6月25日，A股市场继续放量反弹，在大金融等权重板块带动下，三大指数全线上涨，上证指数创今年 以来新高，创业板指涨逾3%。炒股软件、军工、券商等板块爆发，整个A股市场超3900只股票上涨， 80只股票涨停，市场成交额达1.64万亿元。Wind数据显示，截至6月25日，A股总市值为99.93万亿元， 创历史新高。 本周以来，A股市场连续3个交易日放量反弹，上证指数、深证成指、创业板指分别累计上涨2.86%、 3.89%、5.90%。资金面上，资金情绪持续回暖，沪深300主力资金已连续2个交易日净流入。 分析人士认为，市场情绪逐渐回暖，投资者风险偏好提升，资金流入股市的意愿增强，推动了市场上 涨。下半年估值逻辑整体有利，不确定性趋于下降，A股市场更上一层楼可期。 非银金融板块中，东方财富涨逾10%，南华期货、国盛金控、天风证券、瑞达期货、湘财股份等多股涨 停，国泰海通涨逾9%。 ● 本报记者 吴玉华 市场放量上涨 6月25日，A股市场放量走强，三大指数全线上涨。截至当日收盘，上证指数、深证成指、创业板指、 科创50指数、北证50指数分别上涨1.04%、1.72%、3.11%、1.73%、1.38%，上证指数报收3 ...

美国总统特朗普宣称，北约应该购买美国生产的国防产品。 洛克希德·马丁（LMT）几乎完全回吐美股盘初涨幅。 ...

Core Viewpoint - The article highlights the graduation ceremony of the first engineering master's and doctoral students at Xi'an University of Electronic Science and Technology (Xidian University), emphasizing the collaboration between academia and industry in cultivating exceptional engineering talents to meet national strategic needs [1][3]. Group 1: Educational Reform and Collaboration - In 2022, the Ministry of Education and other departments initiated reforms for engineering master's and doctoral programs, focusing on national strategic demands [3]. - Xidian University has restructured its training system for exceptional engineers by deepening collaboration with partner enterprises, ensuring that all engineering master's and doctoral students are paired with dual mentors from both the university and industry [3][5]. - The university's approach includes a significant emphasis on practical experience, with over 80% of project topics being major engineering projects [3]. Group 2: Graduate Outcomes and Industry Engagement - The first cohort of engineering master's and doctoral students graduated with over 40 students, nearly half of whom secured jobs with partner enterprises, and over 60% are engaged in the national defense and military industry [4][5]. - Xidian University has collaborated with nine partner enterprises, enrolling over 70 engineering master's and doctoral students in the past three years, with plans to rank among the top in national enrollment by 2025 [4][5]. - The partnership between Xidian University and China Electronics Technology Group Corporation (CETC) has strengthened, with the number of jointly trained students increasing from 2 to 8 in the first year [5].

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。 （文章来源：证券时报网） 证券时报·数据宝统计，今日有10个行业主力资金净流入，21个行业主力资金净流出。资金净流入金额 最大的行业为非银金融，涨跌幅4.46%，整体换手率2.86%，成交量较前一个交易日变动100.63%，主力 资金净流量123.13亿元；今日资金净流出最大的行业为医药生物，涨跌幅0.41%，整体换手率1.81%，成 交量较前一个交易日变动0.99%，主力资金净流量-23.26亿元。（数据宝） 今日各行业主力资金流向一览 | 行业名 | 成交量（亿 | 成交量较昨日增减 | 换手率 | 涨跌幅 | 今日主力资金净流入（亿 | | --- | --- | --- | --- | --- | --- | | 称 | 股） | （%） | （%） | （%） | 元） | | 非银金 | 118.17 | 100.63 | 2.86 | 4.46 | 123.13 | | 融 | | | | | | | 计算机 | 95.14 | 26.92 | 5.34 | 2.99 | 67.93 | | 国防军 工 | 45.17 | 37.19 ...

Market Overview - The Shanghai Composite Index rose by 1.04% on June 25, with 28 out of 31 sectors experiencing gains, led by non-bank financials and defense industry, which increased by 4.46% and 3.36% respectively [1] - The coal, oil and petrochemical, and transportation sectors were the biggest losers, with declines of 1.00%, 0.57%, and 0.21% respectively [1] Capital Flow Analysis - The net inflow of capital in the two markets was 7.138 billion yuan, with 10 sectors seeing net inflows, primarily in the non-bank financial sector, which had a net inflow of 12.313 billion yuan [1] - The computer sector followed with a daily increase of 2.99% and a net inflow of 6.793 billion yuan [1] Defense Industry Performance - The defense industry saw a rise of 3.36% with a total net inflow of 4.328 billion yuan, where 133 out of 139 stocks in the sector increased in value, including 10 stocks hitting the daily limit [2] - The top three stocks by net inflow were Zhongbing Hongjian with 740 million yuan, Changcheng Military Industry with 340 million yuan, and Taihao Technology with 307 million yuan [2] Defense Industry Capital Outflow - The defense industry also had stocks with significant capital outflows, led by Neimeng Yiji with a net outflow of 1.329 billion yuan, followed by Guangqi Technology and Zhongke Haixun with outflows of 596 million yuan and 537 million yuan respectively [4] - A total of 6 stocks in the defense sector experienced net outflows exceeding 30 million yuan [4]

6月25日，上证指数、科创50指数早盘探底回升，午后震荡上扬；深证成指、创业板指早盘高开高走，随后有所回落，之后 再度上扬，午后持续走强。截至收盘，上证指数报3455.97点，涨1.04%，成交额6201.73亿元；深证成指报10393.72点，涨 1.72%，成交额9826.15亿元；创业板指报2128.39点，涨3.11%，成交额5184.21亿元；科创50指数报995.61点，涨1.73%，成 交额326.74亿元。沪深两市合计成交16027.88亿元，成交额较上一交易日增加1881.74亿元。 证券、国防军工等行业走强诺德股份连收7个涨停板 盘面上来看，行业板块、概念涨多跌少，其中，证券、国防军工、保险、计算机、电力设备、教育、商贸零售、汽车等行业 涨幅靠前；券商、摄像头、跨境支付、数字货币、航母、发电机、国产软件、商业航天等概念走势活跃。煤炭、石油石化、 珠宝首饰等行业跌幅居前；油气设服、草甘膦、重组蛋白、页岩气等概念走势较弱。涨停个股主要集中在非银金融、国防军 工、计算机、化工、汽车等行业。 个股涨跌情况，截至收盘，沪深两市合计3735只个股上涨，1210只个股下跌，平盘个股195只，停牌的个股1 ...

（原标题：主力资金丨尾盘抢筹券商龙头，净流入8.8亿元） 非银金融、计算机、国防军工、家用电器等行业获得主力加仓。 中际旭创的主力资金净流出额位居第二位，净流出5.09亿元。 6月25日，A股市场全天放量大涨，沪指创出年内新高，创业板指涨超3%。大金融板块全线爆发，军工板块集体走强，固态电池概念反复活跃， 半导体芯片、数字货币等板块涨幅居前；油气、农药、航运港口、美容护理等板块跌幅居前。 从资金流向看，沪深两市主力资金净流出53.94亿元。行业方面，申万31个行业中，有6个行业获得主力资金净流入，非银金融、计算机、国防军 工、家用电器等行业获得加仓，其中非银金融行业的净流入规模居前，为56.88亿元。电力设备、通信、基础化工、医药生物等9个行业的主力资 金净流出规模较大，均超10亿元。 金融科技概念获关注 63只个股获得主力资金净流入超1亿元。 东方财富的净流入额居首，金额为37.59亿元，创2024年10月18日以来新高，该股连续3日获得主力资金净流入，累计净流入51.47亿元。 宁德时代主力资金净流入额7.63亿元，仅次于东方财富，股价上涨3.65%。 大金融板块持续走强，金融科技指数连续第三日冲高，除东 ...