消息面上，深交所全资子公司深圳证券信息有限公司于6月27日发布创业板电池指数、创业板医疗指 数、创业板算力基础设施指数等5条创业板主题指数，聚焦电池、医疗、算力等特色产业领域，选取市 值大、流动性好的50只创业板股票构成样本股。创业板在电池、医疗、算力等细分领域已形成明显的产 业集聚特征，相关领域上市公司市值规模可观，为指数编制提供了良好条件。此外，创业板同步启用第 三套上市标准，为符合条件（50亿元市值+3亿元营收）的未盈利创新企业提供新的融资通道，进一步 支持高科技企业发展。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 （文章来源：每日经济新闻） 中信建投指出，在2025年陆家嘴论坛上，证监会提出在创业板正式启用第三套上市标准（预计市值不低 于50亿元且最近一年营业收入不低于3亿元），支持优质未盈利创新企业上市。该政策将重点服务技术 有较大 ...

近期，海洋经济政策利好频出，发展势头强劲。 6月26日，广东省召开全省海洋经济工作会议。作为全国海洋经济发展的"领头雁"，广东海洋生产总值已连续30年位居全国首位。2024年，广东海洋生产总 值突破2万亿元大关，约占全国海洋生产总值的1/5。在"十四五"规划收官之年，广东正以新质生产力重塑海洋经济版图——传统产业升级焕新，新兴产业集 群成势，更前瞻布局深海矿产、可燃冰开发、海水制氢等未来产业。 6月25日，《上海市海洋产业发展规划（2025—2035）（征求意见稿）》公开征求意见。根据总体布局，上海将进一步筑牢两大海洋产业发展核。打造长兴 岛海洋产业发展核和临港新片区海洋产业发展核。到2030年，船舶与海工装备产业增加值超450亿元，大型LNG运输船本土化率提升到85%以上，基本建成 原创技术策源和绿色智能引领的世界级船舶与海洋工程装备产业体系。 从"向海而生"到"向海图强" 海洋经济是拓展全球经济发展空间的必然选择。 根据经济合作与发展组织（OECD）发布的《2030年的海洋经济》报告，当前全球海洋经济产值已突破2.5万亿美元大关，预计至2030年，这一数字将攀升至 3万亿美元，届时海洋经济规模将可媲美全球 ...

融资余额增幅前20只个股 6月25日沪指上涨1.04%，市场两融余额为18292.33亿元，较前一交易日增加72.27亿元。 证券时报·数据宝统计显示，截至6月25日，沪市两融余额9252.48亿元，较前一交易日增加23.96亿元； 深市两融余额8983.99亿元，较前一交易日增加47.17亿元；北交所两融余额55.86亿元，较前一交易日增 加1.14亿元；深沪北两融余额合计18292.33亿元，较前一交易日增加72.27亿元。 分行业看，申万所属行业中，融资余额增加的行业有16个，增加金额最多的行业是非银金融，融资余额 增加39.95亿元；其次是计算机、电子行业，融资余额分别增加22.77亿元、6.90亿元。 具体到个股来看，融资余额出现增长的股票有1865只，占比50.68%，其中，368股融资余额增幅超过5% 。融资余额增幅最大的是天罡股份，该股最新融资余额1175.72万元，较前一交易日增幅达96.70%；股 价表现上，该股当日上涨1.55%，表现强于沪指；融资余额增幅较多的还有联迪信息、三友科技，融资 余额增幅分别为72.77%、67.93%。 融资余额增幅前20只个股中，从市场表现来看，平均上涨6 ...

Group 1 - Foreign institutions have shown significant interest in A-share listed companies, with 76 companies receiving their attention since June, and 30 of these companies hosting at least three foreign institution visits [2] - The most notable company attracting foreign interest is Huichuan Technology (300124.SZ), which has hosted over 100 foreign institutions, including Morgan Stanley and UBS, highlighting the effectiveness of national equipment renewal plans in stimulating market demand [2][3] - Another company, Yihua Technology (301029.SZ), has also engaged with over 60 foreign institutions, focusing on expanding its services in various sectors, including semiconductors and new energy [3] Group 2 - The electronics industry has the highest visibility among foreign institutions, with companies like Lexin Technology (688018.SH) and Huidian Co. (002463.SZ) receiving considerable attention [4] - The machinery equipment sector is also favored, with Huichuan Technology and Yihua Technology being key players, alongside Jiangsu Shentong (002438.SZ) and Kangli Elevator (002367.SZ) [4] - In the computer sector, companies such as Zhongke Chuangda (300496.SZ) and Jingwei Hengrun (688326.SH) have attracted significant foreign interest [4] Group 3 - Foreign institutions maintain a generally optimistic outlook for the Chinese stock market in the medium to long term, despite short-term volatility [5][6] - UBS forecasts a gradual recovery in A-share earnings, projecting a 6% year-on-year growth in earnings per share for the CSI 300 index by 2025 [5] - Morgan Stanley suggests that structural reforms in China, including reduced tariffs and improved business environments, will enhance the attractiveness of investments in China [6][7]

——三大战略深化布局，开启巡检新模式 报告原因：有信息公布需要点评 买入（维持） | 市场数据： 2025 年 06 月 25 日 | | | --- | --- | | 收盘价（元） | 42.03 | | 一年内最高/最低（元） | 59.59/18.74 | | 市净率 | 3.5 | | 股息率%（分红/股价） | 1.02 | | 流通 A 股市值（百万元） | 3,644 | | 上证指数/深证成指 3,455.97/10,393.72 | | | 注："股息率"以最近一年已公布分红计算 | | 上 市 公 司 机械设备 2025 年 06 月 25 日 容知日新 (688768) 相关研究 | 基础数据: | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产（元） | 11.98 | | 资产负债率% | 14.25 | | 总股本/流通 A 股（百万） | 87/87 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 06-25 07-25 08-25 09-25 10-25 11-25 12-25 01-25 02-25 03- ...

Core Viewpoint - The continuous decline in the number of shareholders for many companies indicates a trend of increasing concentration of shares, which may present both opportunities and risks for investors [1][2]. Group 1: Shareholder Trends - A total of 548 companies reported their latest shareholder numbers as of June 20, with 104 companies experiencing a decline in shareholder numbers for more than three consecutive periods [1]. - Among the companies with the longest continuous decline, China Construction Environmental Energy (中建环能) has seen its shareholder count drop for 15 periods, with a cumulative decrease of 20.86%, while Kangxin New Materials (康欣新材) has declined for 11 periods with a total drop of 30.67% [1]. - Other companies with significant declines include Dingxin Communications (鼎信通讯) and Lianyun Technology (联芸科技) [1]. Group 2: Market Performance - Of the companies with declining shareholder numbers, 57 have seen their stock prices rise, while 46 have experienced declines, with notable increases in stock prices for Xiangtan Electric (湘潭电化) at 65.62%, Taotao Automotive (涛涛车业) at 53.16%, and Hengbo Co., Ltd. (恒勃股份) at 36.73% [2]. - 43 companies, accounting for 41.35%, outperformed the Shanghai Composite Index during this period, with Xiangtan Electric, Taotao Automotive, and Hengbo Co., Ltd. achieving relative returns of 63.38%, 50.93%, and 34.50%, respectively [2]. Group 3: Industry and Institutional Interest - The industries with the highest concentration of companies experiencing declining shareholder numbers include machinery, automotive, and basic chemicals, with 13, 11, and 10 companies respectively [2]. - In terms of market segments, 64 companies are listed on the main board, 38 on the ChiNext board, and 2 on the Sci-Tech Innovation board [2]. - In the past month, 20 companies with declining shareholder numbers have been subject to institutional research, with BoShiJie (博实结), HuiLv Ecology (汇绿生态), and Wantong Intelligent Control (万通智控) receiving the most attention, with 8, 5, and 3 institutional visits respectively [2].

Core Viewpoint - Foreign institutions are increasingly focusing on A-share companies, particularly in the electronics, machinery, computer, and automotive sectors, indicating a growing interest in the Chinese market despite short-term volatility [2][5][6]. Group 1: Foreign Institutional Research Trends - A total of 76 A-share companies have received foreign institutional research since June, with 30 companies hosting at least three foreign institutions [3]. - Notably, three A-share companies reported receiving over 50 foreign institutions for research activities [3]. - The highest attention from foreign institutions is on Huichuan Technology (300124.SZ), which has hosted over 100 foreign institutional research activities [3]. Group 2: Company-Specific Insights - Huichuan Technology highlighted that national equipment renewal plans are stimulating market demand in consumer-facing industries such as home appliances and automotive [3]. - Yihada (301029.SZ) received over 60 foreign institutions for research, focusing on automation components across various sectors including 3C, new energy lithium batteries, and semiconductors [4]. - Lexin Technology (688018.SH) also engaged over 60 foreign institutions, emphasizing its advancements in Wi-Fi technology and the growing demand for connectivity solutions across multiple industries [4]. Group 3: Industry Focus - The electronics sector has seen the highest engagement from foreign institutions, with companies like Lexin Technology and Hushan Co. (002463.SZ) attracting significant attention [5]. - Machinery and equipment sectors are also under scrutiny, with companies like Huichuan Technology and Yihada being key focus points [5]. - In the computer sector, companies such as Zhongke Chuangda (300496.SZ) are gaining foreign interest [5]. Group 4: Market Outlook - Foreign institutions generally maintain an optimistic long-term outlook for the Chinese stock market, despite anticipated short-term fluctuations [6][9]. - UBS forecasts a gradual recovery in A-share earnings, projecting a 6% year-on-year increase in earnings per share for the CSI 300 index by 2025 [7]. - Morgan Stanley suggests a balanced investment strategy in the face of short-term uncertainties, recommending a mix of technology/growth stocks and defensive assets [8].

Core Viewpoint - The shield tunnel lining segment mold market is experiencing significant growth driven by increasing demand for underground infrastructure projects, particularly in urban environments and transportation networks [2][3]. Market Overview - The shield tunnel lining segment molds are essential for manufacturing precast concrete segments that form the tunnel structure, ensuring precision and efficiency in the construction process [2]. - Innovations in mold design, automation, and material optimization are propelling market expansion, with a focus on developing customizable, durable, and easy-to-maintain molds [2][3]. Current Development Status - The market is characterized by advancements in mold technology, emphasizing efficiency, durability, and cost-effectiveness [3]. - Integration of automation and robotics in mold production is streamlining manufacturing processes and reducing delivery times [3]. - Adoption of 3D modeling and CAD has improved precision and customization, enhancing quality control and reducing material waste [3]. - The emergence of high-strength steel alloys and advanced composite materials is increasing mold lifespan and wear resistance [3]. Future Trends - The demand for shield tunnel lining segment molds is expected to grow in emerging markets, particularly in the Asia-Pacific region, due to rapid urbanization and infrastructure projects [4]. - The use of advanced high-performance materials will become more common, extending mold lifespan and reducing maintenance costs [4]. - Future molds will be designed for greater flexibility to accommodate various project requirements, focusing on modular and adjustable designs [4]. SWOT Analysis Strengths - There is a strong demand for infrastructure projects, including urban development and transportation networks, driving stable demand for shield tunnel lining segment molds [5]. - The durability and reliability of these molds ensure a long lifespan and dependable performance in demanding tunnel projects [5][6]. Weaknesses - Regular maintenance is required for molds, and repair or replacement costs can be high, especially in demanding tunnel projects [7]. - Market penetration in smaller regions may be limited due to financial and technological constraints [7]. - Strict building and safety standards can complicate manufacturing processes and increase compliance costs [7]. Opportunities - Rapid urbanization and infrastructure development in regions like Asia-Pacific, the Middle East, and Africa present significant growth opportunities for manufacturers [8]. - The trend towards customized and modular solutions allows manufacturers to create adaptable molds, enhancing versatility and reducing the need for new molds for each project [8]. Threats - The market is becoming increasingly competitive, with many companies vying for market share, leading to price wars and innovation pressures that could erode profit margins [9]. - Rapid advancements in mold design and production technology may render existing molds obsolete, necessitating continuous innovation [10]. - Fluctuations in raw material prices, such as steel and concrete, can impact profit margins and production costs [11]. Market Size and Projections - According to QYResearch, the global shield tunnel lining segment mold market is projected to reach USD 217.52 million by 2031, with a compound annual growth rate (CAGR) of 2.87% in the coming years [11]. Market Segmentation - The market is dominated by molds with a diameter of less than 10 meters, accounting for approximately 70.88% of the market share [16][18]. - The subway tunnel sector is the largest downstream market, representing about 61.49% of the demand [21]. Key Manufacturers - Major manufacturers in the global shield tunnel lining segment mold market include CBE Group, Qingdao Global Heavy Industry Technology, and Herrenknecht, with the top three companies holding approximately 67.62% of the market share [16].

Summary of Financing Balances by Industry Core Insights - As of June 24, the total market financing balance reached 1,810.30 billion yuan, reflecting an increase of 5.13 billion yuan from the previous trading day, with 20 out of 31 industries showing an increase in financing balance [1][2] Industry Financing Increases - The power equipment industry saw the largest increase in financing balance, rising by 1.31 billion yuan to a total of 129.50 billion yuan, marking a 1.03% increase [1] - Other notable increases were observed in the electronics industry (1.15 billion yuan increase), computer industry (668 million yuan increase), and pharmaceutical and biological industry (664 million yuan increase) [1] Industry Financing Decreases - 11 industries experienced a decrease in financing balance, with the communication industry facing the largest drop of 4.27 billion yuan, bringing its total to 60.00 billion yuan, a decrease of 0.71% [1][2] - Other industries with significant decreases included national defense and military industry (1.95 billion yuan decrease) and construction decoration industry (1.87 billion yuan decrease) [2] Summary of Financing Balances by Industry | Industry | Latest Financing Balance (billion yuan) | Change from Previous Day (billion yuan) | Percentage Change (%) | |-------------------|-----------------------------------------|------------------------------------------|-----------------------| | Power Equipment | 1295.03 | 13.17 | 1.03 | | Electronics | 2081.19 | 11.53 | 0.56 | | Computer | 1364.58 | 6.68 | 0.49 | | Pharmaceutical | 1315.83 | 6.64 | 0.51 | | Mechanical Equipment | 939.85 | 5.78 | 0.62 | | Media | 411.07 | 3.97 | 0.98 | | Automotive | 944.02 | 3.52 | 0.37 | | Non-ferrous Metals | 770.20 | 3.43 | 0.45 | | Agriculture | 250.27 | 1.56 | 0.63 | | Light Industry | 127.62 | 0.68 | 0.53 | | Retail | 212.65 | 0.65 | 0.31 | | Construction Materials | 116.04 | 0.34 | 0.30 | | Environmental | 148.15 | 0.33 | 0.22 | | Basic Chemicals | 782.64 | 0.24 | 0.03 | | Beauty Care | 59.28 | 0.23 | 0.39 | | Coal | 154.34 | 0.23 | 0.15 | | Public Utilities | 421.94 | 0.23 | 0.05 | | Comprehensive | 32.43 | 0.06 | 0.19 | | Non-bank Financial | 1501.68 | 0.06 | 0.00 | | Steel | 144.41 | 0.04 | 0.03 | | Social Services | 96.00 | -0.07 | -0.07 | | Real Estate | 300.05 | -0.07 | -0.02 | | Transportation | 340.92 | -0.14 | -0.04 | | Textile and Apparel | 67.20 | -0.46 | -0.69 | | Banking | 532.07 | -0.75 | -0.14 | | Home Appliances | 259.87 | -0.78 | -0.30 | | Oil and Petrochemicals | 257.65 | -1.20 | -0.46 | | Food and Beverage | 520.28 | -1.70 | -0.32 | | Construction Decoration | 318.04 | -1.87 | -0.59 | | National Defense | 636.01 | -1.95 | -0.30 | | Communication | 600.02 | -4.27 | -0.71 | [1][2]

Group 1 - The defense and military industry sector saw a net inflow of over 3.95 billion yuan, indicating strong investor interest [1][2] - Other sectors with net inflows include non-bank financials at 0.90 billion yuan and securities at 0.63 billion yuan [2] - The top individual stock with net inflow was Zhongbing Hongjian, which experienced a net buying of 0.49 billion yuan, reaching the daily limit [1][3] Group 2 - The electric new energy industry faced the highest net outflow at -1.64 billion yuan, followed by the communication sector at -1.54 billion yuan [2] - Other sectors with significant net outflows include machinery equipment at -1.52 billion yuan and basic chemicals at -1.50 billion yuan [2] - The stock with the largest net outflow was Guoxin Gaoke, with a net selling of -0.52 billion yuan [4] Group 3 - The top ten stocks with net inflows included Zhongbing Hongjian, Jianshe V, and Dongfang Caifu, with inflows of 0.49 billion yuan, 0.34 billion yuan, and 0.33 billion yuan respectively [3] - The top ten stocks with net outflows included Guoxin Gaoke, Wanma Technology, and Kweichow Moutai, with outflows of -0.52 billion yuan, -0.44 billion yuan, and -0.43 billion yuan respectively [4]