国内市场综述 震荡攀升 小幅上涨 周一（6 月 30 日）大盘震荡攀升，小幅上涨。截至收 盘，上证综指收于 3444.43 点，上涨 0.59%；深成指 收于 10465.12 点，上涨 0.83%；科创 50 上涨 1.54%； 创业板指上涨 1.35%，万得全 A 成交额共 15174 亿元， 较前一日略有下降。 行业方面，30 个中信一级行业有 26 个行业上涨，其 中国防军工、传媒及综合金融涨幅居前，而银行、非 银行金融及交通运输则跌幅较大。概念方面，军工信 息化、CRO 及航母等指数表现活跃。 海外市场综述 美股全线收涨 周一（6 月 30 日），道指涨 0.63%，标普 500 指数涨 0.52%，纳指涨 0.47%，录得六连涨。其中，标普 500 指数、纳指均创历史收盘新高。万得美国科技七巨头指 数涨 0.06%。中概股涨跌不一，纳斯达克中国金龙指数 跌 0.49%，万得中概科技龙头指数跌 0.44%。 新闻精要 | 1. 中共中央政治局召开会议，审议《党中央决策议事 | | --- | | 协调机构工作条例》 | 2. PMI 指数有所回升 3. 《国家科学技术奖励条例实施细则》修订发布 4. ...

证券研究报告·金融工程·金工定期报告 [Table_Tag] [Table_Summary] 报告要点 证券分析师 高子剑 执业证书：S0600518010001 021-60199793 gaozj@dwzq.com.cn 证券分析师 凌志杰 执业证书：S0600525040007 lingzhj@dwzq.com.cn 相关研究 金工定期报告 20250701 从微观出发的五维行业轮动月度跟踪 202507 2025 年 07 月 01 日 《从微观出发的五维行业轮动 月度跟踪 202506》 2025-06-03 东吴证券研究所 1 / 9 请务必阅读正文之后的免责声明部分 ◼ 模型多空对冲绩效：以 2015/01/01-2025/06/30 为回测区间，五维行业轮 动模型在申万一级行业中，六分组多空对冲的年化收益率为 21.59%，年 化波动率为 10.77%，信息比率为 2.00，月度胜率为 73.33%，历史最大 回撤为 13.30%；多头对冲全市场行业等权组合的年化收益率为 10.52%， 年化波动率为 6.59%，信息比率为 1.60，月度胜率 70.83%，历史最大回 撤为 9.36%。 ◼ ...

Core Insights - The transportation sector in China is a crucial area for expanding domestic demand, stabilizing growth, and promoting employment, with significant investments and growth in key metrics observed in the first five months of the year [1][2]. Group 1: Transportation Metrics - In the first five months of the year, China's transportation industry completed a total freight volume of 230.8 billion tons, representing a year-on-year increase of 4.1% [1]. - The road freight volume reached 169.2 billion tons, up 4.3% year-on-year, while waterway freight volume was 40.4 billion tons, increasing by 4.5% [1]. - Port cargo throughput was 73.4 billion tons, with a year-on-year growth of 3.8%, and container throughput reached 14 million TEUs, marking a 7.4% increase [1]. - Cross-regional passenger flow amounted to 28.64 billion trips, reflecting a year-on-year increase of 4.7% [1]. Group 2: Fixed Asset Investment - A total of 1.2 trillion yuan was invested in fixed assets in the transportation sector from January to May, with road and waterway investments amounting to 860.7 billion yuan and 87 billion yuan, respectively [2][6]. - Major transportation projects are characterized by high individual investment, significant social impact, and strong driving effects, making them essential for economic stability and infrastructure modernization [2]. Group 3: Major Transportation Projects - A total of 83 major transportation projects are currently underway across 27 provinces and regions, with several projects reaching critical milestones in July [4]. - The G5612 Dali to Lincang expressway's first tunnel is set to be completed, enhancing connectivity in Yunnan province and supporting poverty alleviation and rural revitalization efforts [5]. - The Xiamen Third East Passage project is progressing with significant construction phases, including the completion of concrete pouring for the anchor [5]. - The Pinglu Canal project and various highway expansions are also scheduled for completion and commencement in July, indicating ongoing infrastructure development [6].

证券研究报告 | 2025年07月01日 【常规内容】 宏观与策略 宏观专题:宏观经济专题研究-去美元化下的央行购金行为研究 行业与公司 能源电子月报：碳化硅车型持续下沉，应用场景逐步铺开 | 晨会纪要 | | --- | | 数据日期:2025-06-30 | 上证综指 | 深证成指沪深 | 300 指数 | 中小板综指 | 创业板综指 | 科创 50 | | --- | --- | --- | --- | --- | --- | --- | | 收盘指数（点） | 3444.42 | 10465.11 | 3936.07 | 11887.95 | 3030.63 | 1003.41 | | 涨跌幅度（%） | 0.58 | 0.83 | 0.36 | 1.00 | 1.59 | 1.53 | | 成交金额（亿元） | 5671.37 | 9197.19 | 2888.21 | 3275.23 | 4621.40 | 295.54 | 电子行业周报：美股 AI 算力股价连创新高，持续看好 AI 产业投资机遇 房地产行业 2025 年 7 月投资策略：基本面持续低迷，博弈窗口开启 电新行业快评:电力设备新能源 ...

坚持办案引领，深挖彻查违纪违法行为。2024年以来，中央纪委国家监委驻中国农业发展银 行纪检监察组和相关省级分行纪委运用"室组地""组地行"联合办案模式，共查办"逃逸式辞 职"案件4件4人。在案件查办过程中，该纪检监察组拓宽问题线索发现渠道，综合巡视反馈、 信访举报等情况，利用大数据平台和数据分析系统，深挖细查涉案人员腐败问题。 6月30日，中央纪委国家监委网站发文《紧盯国企领域"逃逸式辞职"问题 织密织牢制度防护 网》，内容如下： "所属企业纪检监察机构需全面核查拟离职人员近三年廉政档案、信访举报记录、经济责任审 计结果及重大事项报告情况，根据实际形成离职意见……"日前，四川省成都市纪委监委驻成 都益民集团纪检监察组联合集团党委印发《关于规范集团离职、退休人员党风廉政意见征求 工作的通知》，通过构建"前置审核—动态把关—闭环管理"的全流程监督机制，靶向破解国 企领域"逃逸式辞职"问题。 "对存在疑点的人员，我们通过'书面审查+重点约谈'方式开展复核。2024年以来出具党风廉 政意见回复147份，暂缓4人离职。" 该纪检监察组有关负责同志介绍。近年来，成都市纪委监 委加强对国企领域"一把手"和领导班子成员的管 ...

Core Viewpoint - TaoTao Automotive (301345.SZ) has reported strong performance, with expected net profit for the first half of 2025 projected to be between 310 million and 360 million yuan, representing a year-on-year growth of 70.34% to 97.81% [1][2] Financial Performance - In 2024, TaoTao Automotive achieved operating revenue of 2.977 billion yuan, a year-on-year increase of 38.82%, and a net profit of 431 million yuan, up 53.76% [2] - For the first quarter of 2025, the company reported operating revenue of 639 million yuan, a 22.96% increase year-on-year, and a net profit of 86.21 million yuan, reflecting a 69.46% growth [2] Market Expansion - The company has established stable partnerships with major retailers in the U.S. such as Amazon, Walmart, and Target, enhancing its brand influence and market competitiveness [3] - In 2024, the sales volume of electric golf carts reached over 20,000 units, with sales revenue increasing by more than nine times compared to 2023 [3] Stock Performance - TaoTao Automotive's stock price reached a historical high of 109.92 yuan per share on June 30, 2023, marking a 122.87% increase from the lowest price of 49.32 yuan per share on April 9, 2023 [4][5] Production Capacity - The company is ramping up production at its Vietnam facility, with electric golf cart production expected to reach new highs in June 2023, which will support sales growth in the U.S. market [5] - TaoTao Automotive plans to enter the robotics industry, aiming for smart upgrades across its product lines through a strategic partnership with K-Scale Labs [5][6] Revenue from U.S. Market - Revenue from the U.S. market has been steadily increasing, with sales reaching 1.082 billion yuan in 2022, 1.529 billion yuan in 2023, and 2.292 billion yuan in 2024, accounting for 61.30%, 71.32%, and 77% of total revenue respectively [6]

开展交通秩序专项整治行动 加大惠民力度，吸引游客夏游陕西。陕西文旅惠民平台将通过专项补贴的方式，发放五至八折惠民 券。各市通过发放文旅消费券、实行门票减免、推出优惠套票、旅游项目优惠等形式，不断激活文旅消 费市场。 6月30日，记者从省公安厅交通管理总队获悉：为进一步加强道路交通安全管控，有效化解暑期交 通安全突出风险隐患，稳定暑期道路交通安全形势，6月16日至8月31日，省公安厅交管总队在全省组织 开展暑期交通秩序专项整治行动。 交管部门将深入排查治理公路隐患，加大违规占用道路安全隐患排查整治力度，加强施工路段隐患 排查和监督管理，重点排查交通标志不符合规范要求、绿植遮挡等安全隐患；全面排查治理校园内外隐 患，利用暑假时间，加强学校周边道路交通安全隐患排查治理。同时，打击酒驾醉驾；集中力量查处超 速、疲劳驾驶等严重违法行为，提升重点车辆精准查缉能力；优化勤务部署，加密"一早一晚"及周末、 节假日等重点时段的路查路检频次；整治农村"双违"；深化飙车炸街、噪音扰民集中打击整治行动。此 外，重点加强交通安全宣传警示，加强与交通运输、应急管理等部门的协作，实现快速反应、快速处 置。 省公安厅交管总队相关负责人表示： ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600256 证券简称：广汇能源 公告编号：2025-053 广汇能源股份有限公司 关于转让控股子公司合金投资股权的公告 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法律责任。 重要内容提示： ● 广汇能源股份有限公司（简称"公司"）与九洲恒昌物流股份有限公司（简称"九洲恒昌"）签署了《股 份转让协议》，将公司所持新疆合金投资股份有限公司（简称"合金投资"）无限售流通股股份 79,879,575股（简称"标的股份"）予以转让，占合金投资总股本20.74%。经双方协商一致，本次股权转 让交易单价为人民币7.5元/股，交易总价为人民币599,096,812.50元。 ● 本次协议转让完成后，九洲恒昌将持有合金投资79,879,575股股份，占合金投资总股本20.74%，成为 合金投资控股股东；公司不再持有合金投资股份。 ● 本次交易公司旨在立足能源主业长期发展战略，剥离非主营业务资产以提升核心竞争力，九州恒昌旨 在整合物流产业链，联动合金投资协同发展。 ● 本次股权转让事项不存在 ...

Core Viewpoint - The company is focusing on enhancing its technology research and product innovation capabilities to seize opportunities in the thermal management system business as the electric vehicle industry rapidly develops [2]. Group 1: Company Performance - As of June 30, 2025, the company's stock closed at 13.02 yuan, an increase of 5.51%, with a turnover rate of 22.22%, trading volume of 303,800 hands, and a transaction amount of 386 million yuan [1]. Group 2: Business Strategy - The company aims to continuously improve its product delivery and service capabilities, enhance customer satisfaction and brand loyalty, and achieve sustainable development [2]. - The company’s main business segments include integrated AFC systems for rail transit, ETC business for road traffic, and thermal management system equipment [7]. Group 3: Digital Currency and Market Expansion - The company currently does not have any digital currency business and is focusing on integrated projects involving payment scenarios with AFC and ETC devices [4][5][7]. - The company is coordinating with other parties for potential digital currency applications but has not yet launched any related business [13]. Group 4: Technical Advantages - The company's thermal management business includes products such as liquid cooling systems for power batteries, energy storage systems, complete vehicle thermal management systems, and rail transit thermal management systems [10]. Group 5: Investment Activities - The company has made minor investments in related companies through funds, but these holdings do not significantly impact its main business operations [11][12]. Group 6: Market Activity - On June 30, the company experienced a net inflow of 27.57 million yuan from institutional investors, while retail investors saw a net outflow of 30.26 million yuan [14][15].

证券代码：603776 证券简称：永安行 公告编号：2025-082 | 本年年初至披 | | | | | | | | | | 本次预计金额 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 占同类 | | | | | | | | 上年实 | 占同类 | | | | 2025 | | 关联交易 | | 年预 | | | 露日与关联人 | | | | 与上年实际发 | | 关联人名称 业务比 | | | | | | | | | 际发生 | 业务比 | | | 类别 计金额 | | | | | | | 累计已发生的 | | | | 生金额差异较 | | 例 | | | | | | | | 金额 | 例 | | | | 交易金额 | | | | | | | | | | 大的原因 | | | 向关联人 上海钧川供 不 超 过 | | | | | | | | | | | | | 销 售 应链科技有 12,000 万 40.41% | 产 | | | | | | 814.23 | 万元 | 0 | 0% | 不适 ...