人民财讯9月12日电，近日，南方电网公司2025年计量设备第一批框架招标项目中标结果公布，西力科 技成功中标，中标总金额约：4450万元，其中：A级单相智能电能表约3760万元，宽带双模通讯模块约 690万元。 ...

Quantitative Models and Construction Methods - **Model Name**: Chip Return Feature **Model Construction Idea**: The chip structure estimates the average holding cost of investors at different price levels, and the chip return measures the profitability of the current price relative to historical chip costs. It reflects the market's profit-making effect, which exhibits momentum effects in strong markets and reversal effects in weak markets[24] **Model Construction Process**: The chip return is calculated as the return rate of the current price relative to the historical chip cost. The detailed methodology is elaborated in the research team's report "Fusion of Momentum and Reversal from the Perspective of Chip Structure"[24] **Model Evaluation**: The model effectively captures the market's profit-making effect and provides insights into momentum and reversal dynamics[24] Model Backtesting Results - **Chip Return Feature**: Current profit-making effect of the solid-state battery index is 11.11%[5][25][26]

| 数据 | 来源：Choice金融终端 | | --- | --- | | 数 | | 据来源：Choice金融终端 来源：上海证券报·中国证券网 上证报中国证券网讯 截至9月12日10时25分，申万一级行业板块中，主力资金净流入汽车、有色金属、 交通运输等板块，其中，汽车、有色金属板块净流入超10亿元。主力资金净流出电子、医药生物、电力 设备等板块，其中，电子、医药生物板块净流出超27亿元。 ...

盛弘股份与MTE正式签署战略合作协议。双方携手致力于推出先进的电能质量解决方案，为数据中心 等关键应用场景筑牢电能质量安全防线。（盛弘股份） ...

Group 1: Macro and Strategy - The report highlights the impact of the Federal Reserve's quantitative easing (QE) policies on U.S. Treasury yields, indicating that while QE provides liquidity, its long-term effects significantly lower yields [8][9]. - The report outlines four phases of the Federal Reserve's bond purchasing history, detailing the transition from traditional monetary policy to QE during the 2008 financial crisis and the COVID-19 pandemic [9][10]. - Recent economic data indicates a potential rebound in the bond market, with expectations for improved performance following the release of economic growth data on September 15 [11][12]. Group 2: Industry and Company Insights - The semiconductor industry, particularly the analog chip sector, is expected to see growth, with global market sizes projected to increase by 3.3% and 5.1% in 2025 and 2026, respectively [16][17]. - Domestic companies in the analog chip market are anticipated to benefit from increased demand in industrial, automotive, and AI applications, with significant potential for domestic market share growth [17][18]. - The renewable energy sector, particularly wind power, is experiencing favorable pricing outcomes, with competitive bidding results indicating strong investment returns for wind projects [19][20]. - Agricultural products are projected to enter a bullish cycle, with expectations for rising prices in beef and milk, driven by supply dynamics and market recovery [21][22][23]. - The report notes that the company Golden Meat Industry has seen a significant increase in profits from its beef and lamb business, despite challenges in its pig farming segment [35][36]. Group 3: Company-Specific Developments - Daikin Heavy Industries has secured a large contract worth approximately 1.25 billion yuan for offshore wind turbine foundations, which is expected to positively impact its financial performance in 2026 [24][25]. - Kelaiying, a leading CDMO in China, is expanding its service offerings and is projected to achieve steady revenue growth, with a forecasted revenue of 66.8 billion yuan in 2025 [26][28]. - Aibo Medical has reported a significant increase in net profit driven by high-end artificial crystal products, with a 30% quarter-on-quarter growth in the second quarter [29][30][31]. - Bluko is launching new products to enhance its IP portfolio, which is expected to drive revenue growth, particularly in the lower-priced market segment [33][34].

一、证券市场回顾 南财金融终端数据显示，昨日（9月11日，下同）上证综指日内上涨1.65%，收于3875.31点，最高 3875.31点；深证成指日内上涨3.36%，收于12979.89点，最高12979.89点；创业板指日内上涨5.15%，收 于3053.75点，最高3053.75点。 二、融资融券情况 昨日沪深两市的融资融券余额为23326.59亿元，其中融资余额23159.16亿元，融券余额167.43亿元。两 市融资融券余额较前一交易日增加147.61亿元。分市场来看，沪市两融余额为11879.66亿元，相较前一 交易日增加32.94亿元；深市两融余额11446.93亿元，相较前一交易日增加114.67亿元。 两市共有3447只个股有融资资金买入，其中胜宏科技、中际旭创、新易盛排名前三，买入金额分别 65.21亿元、48.24亿元、46.75亿元。融资买入额前10个股详情见下表： | 代码 | 股票名称 | 融资买入额(亿元) | 所属申万行业 | | --- | --- | --- | --- | | 300476.SZ | 胜宏科技 | 65.21 | 电子 | | 300308.SZ | 中际旭 ...

数据显示，截至2025年8月29日，国证自由现金流指数(980092)前十大权重股分别为上汽集团、中国海 油、美的集团、洛阳钼业、格力电器、中国铝业、正泰电器、上海电气、厦门国贸和中国动力，前十大 权重股合计占比57.95%。 截至2025年9月12日9:47，国证自由现金流指数上涨0.27%，成分股潍柴重机涨停，新华百货、上海钢 联、云铝股份、大洋电机等跟涨。自由现金流ETF(159201)跟随指数上行。流动性方面，截至9月11日， 自由现金流ETF近1月日均成交3.4亿元，居可比基金第一。规模方面，自由现金流ETF最新规模达46.25 亿元，创成立以来新高，位居可比基金首位 截至9月11日，自由现金流ETF近6月净值上涨12.56%。从收益能力看，截至2025年9月11日，自由现金 流ETF自成立以来，最高单月回报为7%，最长连涨月数为4个月，最长连涨涨幅为16.68%，涨跌月数比 为5/1，上涨月份平均收益率为3.46%，月盈利百分比为83.33%，月盈利概率为81.97%，历史持有6个月 盈利概率为100%。截至2025年9月10日，自由现金流ETF近3个月超越基准年化收益为14.90%，排名可 比基 ...

2025 年 9 月 12 日 星期五 每日大市点评 9 月 11 日，受美国总统特朗普或有意打击中国生物医药行业的消息影响，港股大盘一度低开，但低位有承接，恒生指数 全日下跌 114 点或 0.4%，收报 26,086 点，稳守 26,000 点关口。恒生科指微跌 0.2%，收报 5,888 点。大市成交金额达 3,252 多亿港元，港股通净流入 189.9 亿港元。生物医药股是跌市重灾区，尽管整体板块下跌 3.1%，但多数个股裂口低开 后随即见全日低位，显示资金有明显趁低买入的意愿，药捷安康(2617 HK)、映恩生物(9606 HK)及荣昌生物(9995 HK)更 在南下资金推动下分别大升 10.1%至 20.8%不等。阿里巴巴(9988.HK)宣布发行 32 亿美元零息可换股优先票据，80%资金用 于 AI 基建，股价上升 0.4%，同时也带动港股 AI 基建及半导体相关股份造好，中兴通讯(763 HK)、鸿腾精密(6088 HK)、 中芯国际(981 HK)分别升 4.9%至 12.8%。阿里旗下高德地图于日前正式推出高德扫街榜功能，反映本地生活服务的竞争并 已从实时零售延伸至到店业务，美团(369 ...

Market Overview - Major indices experienced gains over the past five trading days, with the Shanghai Composite Index rising by 2.91% and the ChiNext Index increasing by 10.00% [2] - The trading volume significantly decreased, with a total of 11.26 trillion yuan traded, averaging 2.25 trillion yuan per day, a reduction of 414.68 billion yuan compared to the previous five trading days [2] - Among the sectors, only the banking industry saw a decline, while the communication, electronics, and power equipment sectors led the gains [2] Economic Data - In August, exports grew by 4.4% year-on-year, a decrease of 2.8 percentage points from July, attributed to a high base last year and prior "export rush" effects [2] - The Consumer Price Index (CPI) remained flat month-on-month in August, with a year-on-year decline of 0.4%, influenced by sufficient pork supply and energy price pressures [2] - The Producer Price Index (PPI) showed a month-on-month stabilization and a narrowing year-on-year decline for the first time since March, driven by a lower base and "anti-involution" measures [2] Policy Insights - The Ministry of Finance emphasized strengthening domestic circulation as a key task for fiscal policy, focusing on consumer stimulation and public service investments [3] - The National Development and Reform Commission highlighted the need for capacity governance in key industries and addressing irrational competition in its report on economic development plans [3] Investment Strategy - The policy direction from the Political Bureau meeting aims to consolidate the recovery of the capital market, alleviating investor concerns about market downturn risks [4] - Short-term market themes remain active, but their sustainability needs to be observed, with structural performance expected to outperform the overall market as valuations recover [4] Industry Opportunities - Investment opportunities in the TMT sector are anticipated due to advancements in domestic computing power and the "AI+" initiative [4] - The power equipment and non-ferrous metals industries may benefit from unexpected demand for energy storage and breakthroughs in solid-state battery production [4] - The financial sector is expected to see investment opportunities as the capital market stabilizes [4]

两融余额持续回升，最新市场两融余额23404.25亿元，连续5个交易日增加，期间杠杆资金大幅加仓哪 些股票？ 证券时报·数据宝统计显示，截至9月11日，沪深北两融余额为23404.25亿元，较上一交易日增加148.32 亿元，其中融资余额23236.82亿元，较上一日增加144.13亿元。分市场来看，沪市两融余额为11879.66 亿元，较上一日增加32.93亿元，深市两融余额11446.93亿元，较上一日增加114.67亿元。北交所两融余 额77.66亿元，较上一日增加7137.35万元。值得注意的是，这已经是两融余额连续5个交易日持续增加， 其间两融余额合计增加608.81亿元。 45股融资余额增幅超50% 分行业看，两融余额连续增加的态势下，申万所属的31个行业中，融资余额增加的共有22个行业，电力 设备行业融资余额增加最多，其间融资余额增加203.45亿元，融资余额增加居前的行业还有电子、通信 等；融资余额减少的行业有交通运输、食品饮料等。以幅度进行统计，电力设备行业融资余额增幅最 高，达12.11%，其次是综合、通信，增幅分别为5.89%、5.52%。 个股方面，两融余额连升期间，50.75%的标的 ...