Market Overview - The Shanghai Composite Index increased by 0.36% as of the morning close, with a trading volume of 783.11 million shares and a transaction amount of 934.47 billion yuan, a decrease of 3.50% compared to the previous trading day [1] Industry Performance - Real estate, banking, and oil & petrochemicals sectors showed the highest gains, with increases of 1.53%, 1.42%, and 1.23% respectively [1] - The automotive, defense, and electronics sectors experienced the largest declines, with decreases of 0.93%, 0.92%, and 0.76% respectively [2] Leading Stocks - In the real estate sector, Yuhua Development led with a gain of 9.94% [1] - In the banking sector, Minsheng Bank rose by 5.12% [1] - In the oil & petrochemicals sector, *ST Xinchao increased by 5.08% [1] - In the steel sector, Jinling Mining surged by 10.02% [1] - In the non-bank financial sector, Nanhua Futures also rose by 10.02% [1] - In the pharmaceutical sector, Qianyuan Pharmaceutical saw a significant increase of 19.98% [1] Sector Summary - The real estate sector had a transaction amount of 117.03 billion yuan, up 26.74% from the previous day [1] - The banking sector recorded a transaction amount of 266.82 billion yuan, up 36.61% [1] - The oil & petrochemicals sector had a transaction amount of 80.95 billion yuan, up 36.47% [1] - The automotive sector had a transaction amount of 389.36 billion yuan, down 16.50% [2] - The defense sector recorded a transaction amount of 316.85 billion yuan, down 23.79% [2] - The electronics sector had a transaction amount of 1,036.63 billion yuan, down 10.88% [2]

以下文章来源于秦朔朋友圈 ，作者巫珩 秦朔朋友圈 . 秦朔朋友圈是由中国著名媒体人、财经观察家秦朔牵头创立的一个新媒体与专业服务品牌，包括微信公 众号、微博、视频节目、音频节目等。内容聚焦于经济、金融和商业领域，关注重点为全球和中国财经 商业热点、企业家精神、创新与发明创造、商业文明探索等。 据说有这么一个地方， 已经成为 00后年轻人心目中的"低物价天堂"。就算你月薪只有3000元，在 这里也可以实现点菜自由。 来源 丨 秦朔朋友圈（ID：qspyq2015） 作者 丨 巫珩 图源 丨 pixabay 都说在这里，仿佛有一套名为 "东北币"的独立货币系统，物价低到超乎你的想象。 去年，笔者去了一趟东北，印象最深刻的就是物价便宜，那一刻我终于感受了一把 "点菜自由"。下 图是当时沈阳街边的一个餐馆的菜牌，炒甘兰一份9元，柠檬锅包肉26元，爆香肝19元，爆鱿鱼19 元，而且都是份量十足。 隔壁桌的椰子鸡，一大盆，很多鸡肉，一看价格才 36元，这要是放在广州，最少得100元。 你敢不敢想象，在沈阳，只需要 10块钱，就可以吃上一顿扶着墙出的早餐自助，光菜式就有四五十 种，堪比五星级大酒店。 你可别以为都是什么馒头 ...

证券研究报告 2025 年 7 月 10 日 星期四 【A 股市场大势研判】 大盘冲高回落，沪指 3500 点得而复失 市场表现： | 指数名称 | 收盘点位 | 涨跌幅 | 涨跌 | 上证指数分时图 | | --- | --- | --- | --- | --- | | 上证指数 | 3493.05 | -0.13% | -4.43 | | | 深证成指 | 10581.80 | -0.06% | -6.60 | | | 沪深 300 | 3991.40 | -0.18% | -7.05 | | | 创业板 | 2184.67 | 0.16% | 3.60 | | | 科创 50 | 983.11 | -0.89% | -8.84 | | | 北证 50 | 1410.36 | -0.75% | -10.63 | | 资料来源：东莞证券研究所，iFinD 数据 板块排名： | 申万行业表现前五 | | | 申万行业表现后五 | 概 | 念板块表现前五 | 概念板块表现后五 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 传媒 | 1.35% ...

证券时报·数据宝统计显示，18家创业板公司公布了上半年业绩预告。业绩预告类型来看，业绩预增的 有13家，预盈的有1家，预降的有1家，预亏的有1家。 创业板上半年业绩预告一览 | 代码 | 简称 | 业绩预告 | 业绩预告 | 预计净利润增幅中值 | 最新收盘价 | 今年以来涨跌 | 行业 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 日期 | 类型 | （%） | （元） | （%） | | | 300199 | 翰宇 | 2025.07.01 | 预盈 | 1567.36 | 18.76 | 45.54 | 医药生 | | | 药业 | | | | | | 物 | | 300505 | 川金 | 2025.07.08 | 预增 | 167.27 | 19.85 | 40.23 | 基础化 | | | 诺 | | | | | | 工 | | 300138 | 晨光 | 2025.07.10 | 预增 | 117.36 | 13.63 | 58.15 | 农林牧 | | | 生物 | | | | | | 渔 | | 300371 | 汇中 | ...

7月8—9日，"壮美广西·全面深化改革调研行"主题采访活动来到河池市，北线采访团深入宜州区、 环江毛南族自治县的大山深处，探访广西深化集体林权制度改革现场，聚焦农村集体经营性建设用地入 市试点，了解林业碳汇开发交易机制等生动的改革实践成果。 "我家中有10亩林地，每年通过林票分红和到林场打工，可增加1.6万元左右收入，就地务工也更方 便照顾家庭。"在满目葱茏、山高林密的九万大山西麓，环江川山镇下丰村坡湖屯林农韦继纯介绍。 2022年底，河池开始实施"广西国家储备林林票"制度改革试点，经过近三年探索实践，通过赋予林 票交易、质押、兑现等多元化权能，建立国有林业企事业单位与村集体、林农深度合作机制，有效破解 集体林经营"融资难、流转难、变现难"问题。 "林票制度改革提升了林地规模经营集群效益，聚拢国有林场、村集体经济、林农，实现多方共 赢！"广西国有黄冕林场环江分场场长廖静文说。 为破解森林资源生态产品价值转化困境，扎实推进绿色发展先行试验区建设，河池市先行探索地方 性林业碳汇试点工作。 2024年8月，广西首批林业碳票发行和交易在环江产生。截至2025年7月1日，河池市林业碳票累计 完成交易26笔，累计交易量1 ...

转债市场日度跟踪 20250709 市场概况：今日转债缩量下跌，估值环比压缩 债券研究 证 券 研 究 报 告 【债券日报】 指数表现：中证转债指数环比下降 0.25%、上证综指环比下降 0.13%、深证成 指环比下降 0.06%、创业板指环比上涨 0.16%、上证 50 指数环比下降 0.26%、 中证 1000 指数环比下降 0.27%。 市场风格：小盘价值相对占优。大盘成长环比下降 0.23%、大盘价值环比下降 0.13%、中盘成长环比下降 0.60%、中盘价值环比下降 0.17%、小盘成长环比 下降 0.32%、小盘价值环比下降 0.01%。 资金表现：转债市场成交情绪减弱。可转债市场成交额为 679.72 亿元，环比 减少 9.64%；万得全 A 总成交额为 15274.20 亿元，环比增长 3.58%；沪深两 市主力净流出 285.94 亿元，十年国债收益率环比上升 0.02bp 至 1.64%。 转债价格：转债中枢下降，高价券占比下降。转债整体收盘价加权平均值为 123.61 元，环比昨日下降 0.24%。其中偏股型转债的收盘价为 165.61 元，环比 下降 1.49%；偏债型转债的收盘价为 ...

国家税务总局青海省税务局税收数据显示，去年5月—今年5月，大规模设备更新政策实施重点领域经营 主体设备更新加快，生产稳中有升；消费品以旧换新政策落地见效明显，消费市场信心稳步增强。 增值税发票数据显示，去年5月—今年5月，青海省家电产品消费"升温"，冰箱等日用家电零售业、电视 机等家用视听设备零售业开票销售收入同比分别增长1.1倍、36.6%；家居产品特别是智能家居产品消费 走高，家具、卫生洁具零售业开票销售收入同比分别增长55.4%、27.1%，其中扫地机器人等智能家电 开票销售收入同比增长3.9倍；汽车以旧换新需求持续释放，全省新车零售开票销售金额同比增长 11.8%。消费品以旧换新政策带动一年来全省零售业开票销售收入同比增长4.8%，快于全省平均增速9.7 个百分点，消费促进经济内循环和实现高质量发展的重要引擎作用不断显现。(林浩索南尼玛韩世峰) 增值税发票数据显示：去年5月—今年5月，青海省有色、钢铁行业采购机械设备取得发票金额同比分别 增长2.8倍、92.1%；信息传输软件和信息技术服务业、科学研究和技术服务业采购设备取得发票金额同 比分别增长14.9%、36.4%；农林牧渔业采购农机设备取得发票金 ...

证券代码：603388 证券简称：*ST 元成 公告编号：2025-068 元成环境股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ●业绩预告的具体适用情形：净利润为负值 ●元成环境股份有限公司（以下简称"公司"）预计 2025 年半年度实现归 属于母公司所有者的净利润-14700 万元到-9300 万元；扣除非经常性损益后的净 利润-14500 万元到-9100 万元。 一、本期业绩预告情况 （一）业绩预告期间 （二）业绩预告情况 公司于 2025 年 6 月转让硅密电子股权，转让股权过程中，产生的税金、会计费 用、律师费用等转让损失，导致半年度净利润减少，预计减少利润总额约 5065.98 万元。 （三）本次业绩预告为公司根据经营情况的初步核算，未经注册会计师审计， 且注册会计师未出具对公司本期业绩预告的专项说明。 二、上年同期业绩情况 （一）利润总额：-9190.78 万元。归属于上市公司股东的净利润：-6518.20 万元。归属于上市公司股东的扣除非经常性损益的净利润：-4239.5 ...

- The industry mainline model uses the Relative Strength Index (RSI) indicator to identify leading industries. The construction process involves calculating the past 20, 40, and 60 trading days' returns for 29 primary industry indices, normalizing the rankings, and averaging them to derive the final RSI value. Industries with RSI > 90% by April are likely to lead the market for the year[11][13][14] - The industry rotation model is based on the "Prosperity-Trend-Crowdedness" framework. It includes two sub-models: the industry prosperity model (high prosperity + strong trend, avoiding high crowdedness) and the industry trend model (strong trend + low crowdedness, avoiding low prosperity). Historical backtesting shows annualized excess returns of 14.4%, IR of 1.56, and a maximum drawdown of -7.4%[16][18][22] - The left-side inventory reversal model focuses on industries with low inventory pressure and potential for restocking. It identifies sectors undergoing a rebound from current or past difficulties. Historical backtesting shows absolute returns of 25.9% in 2024 and excess returns of 14.8% relative to equal-weighted industry benchmarks[28][30][29] - The industry ETF allocation model applies the prosperity-trend-crowdedness framework to ETFs. It achieves annualized excess returns of 15.5% against the CSI 800 benchmark, with an IR of 1.81. The model's excess returns were 6.0% in 2023, 5.3% in 2024, and 7.7% in 2025[22][27][16] - The industry prosperity stock selection model combines industry weights from the prosperity-trend-crowdedness framework with PB-ROE scoring to select high-value stocks within industries. Historical backtesting shows annualized excess returns of 20.0%, IR of 1.72, and a maximum drawdown of -15.4%[23][26][16] - The industry prosperity-trend model achieved excess returns of 3.9% in 2025, while the inventory reversal model showed absolute returns of 1.3% and excess returns of -2.1% relative to equal-weighted industry benchmarks[16][28][30]

Market Overview - The Shanghai Composite Index fell by 0.13% on July 9, with 17 out of the 28 sectors rising, led by Media and Agriculture, Forestry, Animal Husbandry, and Fishery, which increased by 1.35% and 0.65% respectively [2] - The sectors with the largest declines were Non-ferrous Metals and Basic Chemicals, which dropped by 2.26% and 0.85% respectively [2] Capital Flow Analysis - The main capital outflow from the two markets totaled 38.536 billion yuan, with only three sectors experiencing net inflows: Media (1.055 billion yuan), Retail (864 million yuan), and Construction Decoration (40.34 million yuan) [2] - The Electronic sector saw the largest net outflow, amounting to 7.789 billion yuan, followed by Non-ferrous Metals with 5.412 billion yuan [2] Agriculture, Forestry, Animal Husbandry, and Fishery Sector - The Agriculture, Forestry, Animal Husbandry, and Fishery sector rose by 0.65% despite a net capital outflow of 437 million yuan [3] - Out of 103 stocks in this sector, 40 stocks increased, with one hitting the daily limit, while 55 stocks declined [3] - The top three stocks with net inflows were Xinwufeng (31.4665 million yuan), Haida Group (28.3706 million yuan), and Juxing Agriculture (21.9941 million yuan) [3][4] Top Gainers and Losers in Agriculture, Forestry, Animal Husbandry, and Fishery - **Top Gainers**: - Xinwufeng: +0.65%, 4.20% turnover, 31.4665 million yuan inflow [4] - Juxing Agriculture: +0.76%, 4.49% turnover, 21.9941 million yuan inflow [4] - **Top Losers**: - Muyuan Foods: -3.27%, 1.81% turnover, 71.5922 million yuan outflow [5] - Guolian Aquatic Products: -1.76%, 8.74% turnover, 45.2607 million yuan outflow [5]