一位眼科医生通过用人工晶体置换混浊的晶状体（白内障），能在半小时内改变一个人的生活。在许多医疗领 域，从业者可以用明确的指标（如血液检测、骨骼扫描和其他生理指标）来评估干预的效果。 在心理健康护理领域，用于诊断和提供治疗方法的数据通常主要由逐步积累的文本构成。虽然标准化问卷和评分 量表提供了一些可量化的指标，但它们仍然依赖于自我报告或临床医生的判断。这使得叙述中可能出现许多漏 洞、误解和认知偏差。一位患者可能因为各种原因无法准确地在日志中记录自己的情绪、活动或行为，而临床医 生在有限的环境和较短的时间内与患者互动时，可能会对患者的病情做出错误的判断。 数字技术可以通过提供更客观和持续的数据收集方法来帮助缓解这些问题。现在可以利用智能手机和可穿戴设备 实现对行为的被动监测。能够主动提示用户情绪和行为状态的心理健康应用程序可以帮助人们实现更一致的自我 监测。利用AI分析地理定位数据、短信发送频率和通话时长，可以预测抑郁症或双相情感障碍的发作。 大语言模型还可以分析大量的治疗会话记录，以更好地了解在不同情境下哪种干预措施效果最好，以及哪些咨询 师行为可以带来不错的治疗效果。例如，2024年1月，隶属于质量保证和临床 ...

Market Overview - A-share market continued to rebound on June 4, with all three major indices opening higher and closing positively, particularly the ChiNext Index which rose over 1% [1][2] - The total trading volume reached 1.18 trillion yuan, with nearly 4,000 stocks rising and over 80 stocks hitting the daily limit [1][2] - The market is currently in a repair phase, supported by a series of domestic policies, limiting the adjustment space [1][5] Sector Performance - The consumer sector saw significant activity, with beauty care, textiles, and retail sectors leading the gains, with increases of 2.63%, 2.53%, and 2.41% respectively [2][3] - Solid-state battery and optical module sectors also performed well, contributing to the overall market rebound [1][2] - A total of 32 stocks reached historical highs, predominantly from the banking, pharmaceutical, and food and beverage sectors [3] Fund Flow - On June 4, the net inflow of main funds in the CSI 300 exceeded 3 billion yuan, indicating a recovery in market sentiment [3][4] - Among the 13 sectors with net inflows, electronics, communications, and power equipment led with inflows of 22.99 billion yuan, 13.48 billion yuan, and 11.00 billion yuan respectively [4] - Conversely, sectors such as defense, pharmaceuticals, and automotive experienced net outflows [4] Investment Strategy - Analysts suggest focusing on high-performance consumer leaders and traditional companies with new consumption thinking, as they may benefit from structural opportunities [3][5] - The current market environment is characterized by a focus on safety and stability, with recommendations to invest in dividend-paying stocks and technology sectors [5][6] - The upcoming Lujiazui Forum is expected to announce significant financial policies that could support market expectations [5]

6月4日，A股市场整体表现积极，指数、板块及个股收涨居多。其中，消费和科技股表现亮眼，而通用航空和大飞机 板块则微跌。 今日震荡走强 A股继续震荡走高，沪指收涨0.42%报3376.2点，创业板指收涨1.11%报2024.93点。科创50、沪深300、上证50均微涨， 北证50涨逾1%。交易量微增，今日A股日成交额共计1.18万亿元。 A股共计3963只个股收涨，涨停股86只；1238只个股收跌，跌停股2只。 31个申万一级行业板块中，仅有交通运输、国防军工、公用事业板块微跌，其余飘红。消费、科技股表现亮眼，美容 护理、综合、纺织服饰板块涨幅均超过2%，通信、商贸零售、电子等板块涨幅超过1%。轻工制造板块掀起涨停潮， 嘉美包装（002969）等10只个股涨停，其中金陵体育（300651）20cm涨停。 | 名称 | ● | 涨幅% ↓ | 涨停家数 | 年初至今涨幅% | 5日涨幅% | 10日涨幅% | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 昨日涨停 含- | 字 | 3.58 | 25 | 491.79 | 12.44 | 1 ...

策 略 研 究 太 平 2025 年 06 月 04 日 投资策略 策略日报（2025.06.04）：轮动 相关研究报告 洋 证 券 股 份 有 限 公 司 证 盘>>--2025-06-03 << 无 所 谓 有 无 所 谓 无>>--2025-05-06 下>>--2025-04-07 出>>--2025-04-07 E-MAIL：zhangdd@tpyzq.com 分析师登记编号：S1190522040001 E-MAIL：xuzm@tpyzq.com 分析师登记编号：S1190525050001 <<策略日报（2025.06.03）6 月变 债券市场：利率债普涨。今日股债商齐涨，考虑到股市波动率仍在 低位，维持债市后续将受益于避险资金的流入的判断。后续展望：股市 波动率可能抬高，资金避险需求或使得债券重拾涨势。 券 研 究 报 告 <<估值与盈利周观察——4 月第 1 期 ： 市 场 分 化 ， 红 利 上 成 长 <<流动性与仓位周观察——4 月第 1 期 ： 杠 杆 资 金 加 速 流 证券分析师：张冬冬 证券分析师：徐梓铭 股票市场：市场全天震荡上行，期指波动率继续下行的同时成交量 仍维持在 1 ...

北京、上海、广东、江苏、四川、福建、河北、山西、陕西、安徽等全国多省，已试点推进免陪护病房试点。本 月起在全国范围内试点推广。 面对人口老龄化和社会住院陪护成本的日益加深，我国将自本月起在全国范围内试点推广医院"免陪护病房"。在 未来两年里，各省区市人口老龄化程度较深的省会城市和地级市，至少要确定一到两所三级医院参与该项试点。 近日，国家卫健委发布《关于印发医院免陪照护服务试点工作方案的通知》（下称"试点工作方案"）并明确了上 述规划要求。 "免陪照护服务"是近年来新出现的一项医疗服务，主要用于破解"一人住院、全家奔波"的窘境，由经过规范化培 训的护理员为住院患者提供24小时不间断的专业医疗护理和生活照护。 2024年10月，国家医保局出台调整护理类价格相关政策，新设"免陪照护服务"价格项目，这意味着医院可以直接 主导开展"照护服务"，按指导价向患者收取费用，此举促进了该种新兴护理模式在多地的推广工作。 截至目前，北京、上海、广东、江苏、四川、福建、河北、山西、陕西、安徽等全国多省，已试点推进免陪护病 房试点。 "万事俱备，只欠病床。"一名参与北方某地免陪照护服务试点工作的机构人士对第一财经表示，在"免陪护" ...

Core Viewpoint - The stock price of Beautiful Garden Medical Health (02373.HK) surged by 34.25% on June 4, 2023, reaching a new high of 24.3 HKD per share, driven by positive market sentiment and favorable industry conditions [1][2]. Group 1: Stock Performance - On June 4, 2023, Beautiful Garden Medical Health's stock price increased significantly, closing at 24.3 HKD per share, with a trading volume of 1.6 billion HKD [1]. - The year-to-date increase in the stock price reached 36.52%, surpassing the Hang Seng Index's gain of 17.92% during the same period [1]. Group 2: Market Drivers - The surge in Beautiful Garden Medical Health's stock is attributed to the overall rise in the Hong Kong consumer and medical beauty sectors, with several companies in these sectors hitting historical highs [2]. - The recent boom in the emerging consumer sector is driven by a combination of policy support, holiday effects, and self-care consumption trends [3]. Group 3: Company Developments - Beautiful Garden Medical Health has expanded its brand portfolio, which includes multiple brands such as Beautiful Garden, Beili Shi, and others, focusing on lifestyle beauty, medical beauty, and healthcare [3]. - As of December 31, 2024, the company operates over 554 stores, with 275 being direct-operated and 279 being franchised or managed [3]. - The company announced a plan to acquire an additional 20% stake in Guangzhou Nairui, increasing its ownership to 90%, which is expected to enhance its business model and competitive edge [4]. - Recent shareholder activity, including CITIC Securities' purchase of 147,000 shares, has bolstered market confidence in the company [4].

Group 1 - Shenzhen companies are increasingly exploring emerging markets, with a focus on diversifying their business operations, particularly in the oral care consumer goods sector [1] - Financial institutions in Shenzhen are evolving into resource linking and overseas service stations, providing customized and comprehensive solutions for companies venturing abroad [1][2] - The demand from companies for services related to overseas logistics, market access, compliance, tax policies, cross-border financing, and localization is growing [2][3] Group 2 - Banks are not only facilitating resource matching but are also directly involved in advising companies on their overseas operations, offering both financial and non-financial services [3] - The international market is becoming a significant growth area for Chinese commercial banks, with examples like ICBC Brazil focusing on cross-border settlements and trade financing [3][4] - The use of the Renminbi in international trade is increasing, with over 50% of some Latin American countries starting to adopt it for trade and investment, benefiting Shenzhen's private enterprises [3][4] Group 3 - Shenzhen's cross-border insurance services are expanding to cover the entire process of companies going abroad, with a focus on risk mitigation [5] - Common risks faced by companies include exchange rate fluctuations, geopolitical changes, and buyer defaults, which are often excluded from standard insurance coverage [5] - The "Big Protection" insurance program supports small and medium-sized export enterprises, with 22,000 companies signing up in 2024, facilitating exports worth $90.91 billion, a 27.5% increase [5][6]

一、 0604 复盘点评：消费与科技双轮驱动，创业板领涨，成交放量但轮动加快 1. 大盘指数走势及成交量强度表现 今日市场呈现消费 + 科技双主线轮动格局，资金主要流向以下方向： • 大消费板块全线爆发：黄金珠宝（萃华珠宝 和 潮宏基 2 连板 ）、美容护理（豪悦护理）、食品饮料（ 啤酒消费的乐惠国际 7 天 5 板， 香 飘飘 和 西麦食品 涨停 ） 、口含烟（华宝国际 20CM ，劲嘉股份涨停） 领涨， 港股新消费 F4 继续引爆内外资， 618 消费旺季预期及政策 刺激（家电以旧换新 、服务消费刺激 ）推动资金涌入。 • AI 硬件端反弹： CPO （太辰光 +10% 、新易盛、天孚通信也拉涨 ）、铜缆高速连接（华脉科技涨停）受英伟达 GB200 供应链订单催化， 算力需求预期提升。 • 固态电池概念走强：宁德时代半固态电池量产预期带动科恒股份、传艺科技涨停，但部分标的（龙蟠科技 、领湃科技、金龙羽等 ）冲高回 落，显示资金分歧。 • 银行股创历史新高：沪农商行、长沙银行等城商行股价新高，低估值 + 高股息策略受青睐。 跌幅方面：机场航运（国际航线恢复不及预期）、物流（保税科技跌停 ，无人概念调整 ）、 ...

Core Insights - The article highlights that while many product categories are struggling, certain segments like liquid soap and low-temperature yogurt are experiencing significant growth, with liquid soap increasing by 55% despite an overall market downturn [1][3][6] Group 1: Market Trends - The personal care market is facing challenges, but some products are thriving due to structural changes in consumer behavior [6] - Health has become a key focus for consumers, transitioning from a concept to quantifiable metrics, with 62% of Chinese consumers actively working to improve their health [8] - Consumers are increasingly concerned about product ingredients, with 46% regularly checking food labels [8] Group 2: Successful Strategies - Liquid soap addresses consumer anxieties about traditional soap and shower gel by emphasizing ingredient transparency, environmental packaging, and hygienic design [10] - Low-temperature yogurt has successfully reframed health into a three-dimensional logic of trust, demand, and recognition through transparency, targeted benefits, and cultural relevance [10] - Both products illustrate that consumers are more attracted to structural health benefits rather than mere health claims [10] Group 3: Targeting Specific Demographics - Liquid soap targets high-value demographics, particularly young families and older households, focusing on health protection and convenience [11] - Low-temperature yogurt employs scenario-based solutions to meet specific consumer needs, such as sugar management and digestive health [12] - Brands must connect with specific consumer segments to drive growth, moving away from broad market strategies [13] Group 4: Growth Recommendations - Brands should develop a comprehensive "information structure" to effectively communicate their value propositions [14] - Identifying and optimizing existing market gaps can lead to growth opportunities, as demonstrated by successful brands like Luckin Coffee and San Don Half [15][16] - Companies do not always need to innovate new categories; they can succeed by offering alternatives to outdated consumer choices [16]