科创板股中，收盘价最高的是寒武纪，今日报收604.80元，上涨0.77%，其次是惠泰医疗、恒玄科技 等，最新收盘价分别为407.60元、367.36元。 科创板百元股中，今日平均上涨0.36%，具体来看，今日上涨的有16只，涨幅居前的有浩欧博、百济神 州、达梦数据等。下跌的有24只，跌幅居前的有恒玄科技、C影石、纳芯微等。 向前追溯发现，科创板百元股最新收盘价相对发行价平均溢价311.47%，溢价幅度居前的有百利天恒、 安集科技、寒武纪等，溢价幅度分别为1266.40%、1011.48%、839.28%。 以申万一级行业分类，科创板百元股较为集中的行业有电子、医药生物、计算机等，分别有18只、9 只、6只股票上榜。 以最新收盘价计算，科创板平均股价为30.21元，其中股价超100元的有40只，股价最高的是寒武纪。 证券时报·数据宝统计显示，科创板股今日上涨的有261只，下跌的有316只，以收盘价为基准测算，科 创板平均股价为30.21元，其中，收盘价超过100元的有40只，股价在50元至100元之间的有103只，股价 在30元至50元的有149只。 资金流向方面，科创板百元股今日主力资金合计净流出5.09亿元 ...

盘面上来看，行业板块、概念涨多跌少。其中，有色金属、传媒、美容护理、医药生物、通信、银行、 石油石化、珠宝首饰等行业涨幅靠前；盲盒经济、谷子经济、彩票、创新药、宠物经济、小红书、可控 核聚变、黄金、影视等概念走势活跃。家电、煤炭、食品饮料、农林牧渔、房地产、国防军工等行业跌 幅居前；水产养殖、啤酒、猪肉、免税、环氧丙烷、工业气体等概念走势较弱。涨停个股主要集中在汽 车、传媒、计算机、医药生物、轻工制造等行业。 个股涨跌情况，截至收盘，沪深两市合计2196只个股上涨，2741只个股下跌，平盘个股194只，停牌的 个股20只。不含当日上市新股，共有73只个股涨停，5只个股跌停。 涨停股中，从收盘涨停板封单量来看，英利汽车最受追捧，收盘涨停板封单有3776.92万股；其次是新 北洋、康惠制药、美晨科技、安妮股份、ST联合、宁波东力等股，涨停板封单分别有2721.7万股、 2278.78万股、2203.99万股、1780.13万股、1592.75万股、1416.44万股。 以涨停板封单金额计算，15股封单金额超1亿元。其中，康惠制药涨停板封单资金最多，涨停板封单资 金为6.26亿元；其次是北矿科技、新北洋、英利汽车、 ...

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） | 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） | | 医药生 物 | 69.12 | 0.99 | 2.54 | 1.27 | 11.01 | | 银行 | 34.41 | 11.70 | 0.26 | 0.30 | 9.88 | | 通信 | 34.71 | 11.71 | 1.98 | 0.98 | 6.71 | | 传媒 | 61.49 | 13.75 | 4.20 | 1.33 | 6.39 | | 非银金 融 | 48.42 | -9.84 | 1.17 | 0.19 | 3.13 | | 石油石 化 | 13.59 | 19.84 | 0.38 | 0.27 | 2.79 | | 有色金 属 | 49.58 | -8.68 | 2.27 | 1.40 | 2.37 | | 家用电 器 | 11.43 | -11.8 ...

Market Overview - The Sci-Tech Innovation Board (STAR Market) index decreased by 0.30%, closing at 977.97 points, with a total trading volume of 2.641 billion shares and a turnover of 93.308 billion yuan, resulting in a weighted average turnover rate of 1.54% [1] - Among the tradable stocks on the STAR Market, 261 stocks closed higher, with 8 stocks rising over 10% and 15 stocks rising between 5% and 10%. Conversely, 316 stocks closed lower [1] Turnover Rate Analysis - The turnover rate distribution shows that 3 stocks had a turnover rate exceeding 20%, 7 stocks had a turnover rate between 10% and 20%, 46 stocks had a turnover rate between 5% and 10%, 63 stocks had a turnover rate between 3% and 5%, 293 stocks had a turnover rate between 1% and 3%, and 176 stocks had a turnover rate below 1% [1] - C Yingshi, a newly listed stock, had the highest turnover rate at 34.20%, closing down by 3.82% with a trading volume of 1.802 billion yuan and a net inflow of 176 million yuan [1][4] High Turnover Stocks - Among stocks with a turnover rate exceeding 5%, C Yingshi was noted as a new listing. The top gainers included Luopute, Rongchang Bio, and Dadi Bear, with increases of 19.98%, 17.55%, and 15.21%, respectively. The top decliners included Jiuri New Materials, C Yingshi, and Jiahe Meikang, with declines of 4.79%, 3.82%, and 3.41% [2] - The pharmaceutical and biological sector had the highest representation among high turnover stocks, with 16 stocks, followed by the electronics and computer sectors with 11 and 8 stocks, respectively [2] Fund Flow Insights - In terms of fund flow, 36 stocks experienced net inflows from major funds, with C Yingshi, Maiwei Bio, and Yuanjie Technology receiving the most significant net inflows of 176 million yuan, 73.543 million yuan, and 57.624 million yuan, respectively. Conversely, major outflows were noted in Borui Pharmaceutical, Rongchang Bio, and Jiuri New Materials, with outflows of 68.551 million yuan, 31.164 million yuan, and 27.0916 million yuan, respectively [2] Leverage Fund Movements - Recent data indicates that 34 stocks with high turnover received net purchases from leveraged funds, with C Yingshi, Shijia Photon, and Maiwei Bio seeing the largest increases in financing balances of 476 million yuan, 117 million yuan, and 6.432 million yuan, respectively. In contrast, stocks like Zhongyou Technology, Youfang Technology, and Haichuang Pharmaceutical experienced significant reductions in financing balances [3]

证券研究报告 | 策略点评 2025 年 06 月 12 日 投资要点 分析师：孟之绪 执业编号：S0300524080001 电话： 邮箱：mengzhixu@ykzq.com 股市有风险，投资需谨慎。 投资策略研究 粤开市场日报-20250612 今日关注 指数涨跌情况：今日 A 股主要指数涨跌互现。截止收盘，沪指涨 0.01%，收报 3402.66 点；深证成指跌 0.11%，收报 10234.33 点；科创 50 跌 0.30%，收报 977.97 点；创业板指涨 0.26%，收报 2067.15 点。总体上，全天个股跌多涨 少，Wind 数据显示，全市场 2864 只个股下跌，2325 只个股上涨，223 只个股 收平。沪深两市今日成交额合计 12718 亿元，较上个交易日放量 163.10 亿元。 行业涨跌情况：今日申万一级行业涨跌参半，有色金属、传媒、美容护理、 医药生物、通信、综合等行业领涨，家用电器、煤炭、食品饮料、农林牧渔、 房地产、国防军工等行业领跌。 板块涨跌情况：今日涨幅居前概念板块为光模块(CPO)、黄金珠宝、CRO、创 新药、光通信、拼多多合作商、短剧游戏、谷子经济、减肥药、量子 ...

Group 1 - The Hong Kong IPO market is experiencing a strong recovery, with new fundraising exceeding 60 billion HKD in 2025, making it the top globally [1] - The "A+H" shares are expected to account for up to 50% of new listings, with a conservative estimate of one-third [1] - As of May 2025, there have been 27 new IPOs in Hong Kong, raising a total of 77.7 billion HKD, representing a year-on-year increase of 29% and over 8 times [1] Group 2 - Regulatory measures have encouraged more A-share companies to list in Hong Kong, making mainland enterprises the core driving force of the IPO market [2] - There is an expectation of at least 6 large IPOs (raising 1 billion USD or more) in 2025, primarily from the consumer retail sector [2] - The enthusiasm of retail investors is crucial for the success of IPOs, as seen with significant participation in recent offerings [2] Group 3 - The Hong Kong IPO market is showing signs of recovery compared to previous years, driven by A+H shares and mainland enterprises, with notable performance in consumer retail and technology sectors [3] - Policy support, valuation advantages, and retail investor enthusiasm are injecting vitality into the market [3] - Continued positive performance in the IPO market could amplify the "snowball effect," encouraging more companies to list in Hong Kong [3]

一、大类资产回顾 1、股票月度回顾 5月全球风险偏好主要围绕关税谈判进展、美国信用评级下调、美债拍卖预冷等事件波动。全月来看，全球避险情绪缓解，多数权益市场上涨。A股方 面，万得全A先扬后抑，全月上涨2.39%；结构上延续4月"哑铃"格局，创业板、小微盘与大盘价值风格占优；超八成申万一级行业5月录得正收益，医 药、国防军工、银行表现居前，"新消费"和创新药板块领涨，但月末波动加大。恒生指数全月上涨5.29%，南向资金单月净买入约420亿元；AH溢价整体 维持震荡，相比于4月末的144.33小幅下降至141.53。 2、债券月度回顾 5月以来，受降准降息、关税反复、债券供给、机构行为等多空因素交织影响，利率先下后上、震荡分化，短端表现优于长端，曲线陡峭化；得益于"存款 搬家"带来的信用债配置需求，信用利差明显压缩。5月7日央行宣布降准降息，短端直接受益，长端利率先下后上。5月12日中美经贸谈判成果超预期，债 市快速调整，随后进入低波震荡状态。5月20日大行存款降息利好兑现，叠加税期资金面偏紧，债市情绪转弱，月末受美国联邦法院关税裁定反复影响， 利率先上后下，10年期国债最终收于1.67%，环比上行5BP。 3、 ...

| 食品饮料 | | | | 宝立食品 | | | --- | --- | --- | --- | --- | --- | | 煤炭 | -1.02 | 50.36 | -7.05 | 安源煤业 | -4.15 | | 农林牧渔 | -1.20 | 148.33 | -26.53 | 神农种业 | -4.30 | | 家用电器 | -1.51 | 126.95 | -7.96 | 禾盛新材 | -3.61 | 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，截至下午13:59，今日沪指跌0.05%，A股成交量820.47亿股，成交金额10365.57 亿元，比上一个交易日增加1.57%。个股方面，1687只个股上涨，其中涨停60只，3568只个股下跌，其 中跌停3只。从申万行业来看，传媒、有色金属、医药生物等涨幅最大，涨幅分别为1.39%、1.04%、 0.68%；家用电器、农林牧渔、煤炭等跌幅最大，跌幅分别为1.51%、1.20%、1.02%。（数据宝） 今日各行业表现（截至下午13:59） | 申万行业 | 行业涨跌（%） | 成交额（亿元） ...

Group 1: Core Viewpoints - The large consumption sector includes industries closely related to daily life, such as food and beverages, home appliances, clothing and textiles, pharmaceuticals, and tourism [1][3][5] Group 2: Industry Summaries - The food and beverage industry is a stable segment with consistent demand, including high-end liquor and dairy products, which are increasingly popular due to health consciousness [1] - The home appliance industry is driven by rising living standards, with both large appliances and small gadgets becoming essential for convenience, alongside technological advancements [3] - The clothing and textile industry is characterized by fast-changing fashion trends and a growing demand for sportswear, with e-commerce playing a significant role in market expansion [3] - The pharmaceutical and biotechnology sector is essential for health, with stable demand for medications and a growing need for medical devices and services due to an aging population [3] - The tourism and hotel industry benefits from increased disposable income, with diverse travel options and accommodation types catering to various consumer needs [5] Group 3: Investment Logic - The large consumption sector exhibits stable demand, less affected by economic cycles, providing investors with relatively stable returns [5] - Consumption upgrading is a significant trend, with consumers willing to pay more for high-quality and innovative products, benefiting brands that focus on quality [5] - Brand effect is crucial in the large consumption sector, as consumers prefer well-known brands for perceived quality and reliability [8] - Policy support from the government promotes consumption upgrades and expands domestic demand, creating opportunities for related industries [8]

FICC日报 | 2025-06-12 中美谈判新进展，股指反弹 市场分析 中美谈判新进展。国内方面，当地时间6月9日至10日，中美经贸磋商机制首次会议在英国伦敦举行。双方进行了 坦诚、深入的对话，就各自关心的经贸议题深入交换意见，就落实两国元首6月5日通话重要共识和巩固日内瓦经 贸会谈成果的措施框架达成原则一致，就解决双方彼此经贸关切取得新进展。中美经贸中方牵头人、国务院副总 理何立峰表示，下一步，双方要按照两国元首通话达成的重要共识和要求，进一步发挥好中美经贸磋商机制作用， 不断增进共识、减少误解、加强合作。美方表示，本次会议取得积极成果，进一步稳定了双边经贸关系，将按照 两国元首通话要求，与中方相向而行，共同落实好本次会议共识。海外方面，美国劳工部数据显示，5月CPI同比 增长2.4%、环比增长0.1%，剔除食品和能源价格的核心CPI同比上涨2.8%、环比增长0.1%，均低于预期。CPI数据 公布后，特朗普再度呼吁美联储降息100个基点。 指数反弹。现货市场，A股三大指数反包，上证指数涨0.52%收于3402.32点，创业板指涨1.21%。行业方面，板块 指数涨多跌少，有色金属、农林牧渔、非银金融、汽车 ...