老铁们，帮主盯着盘面直拍大腿——今天A股这出戏太刺激了！三大指数集体玩起高台跳水，创业板半天就栽了1.35%，3600只股票绿得发慌。但你们猜怎 么着？美容、港口、农业这几个板块愣是杀出重围，上演逆袭剧本！ 港口航运的逆袭密码 中日韩自贸区谈判重启的消息，让沿海港口集体嗨了。连云港、宁波海运涨停不是偶然——三国贸易量每增10%，港口吞吐量就能涨15%。但老铁们注意 了，这波行情有"政策预期"加持，等具体协议落地可能利好出尽，现在追高容易被挂旗杆。 农业股竟成避风港？ 中央一号文件提到的"农业新质生产力"，让秋乐种业这类企业突然吃香。数字农业管理系统能精准控制施肥量，节水30%的同时增产15%，这才是资金追捧 的硬逻辑。但农业股波动大得像坐过山车，没金刚钻别揽瓷器活。 先说这冰火两重天 开盘半小时就看出端倪：AI智能体、液冷服务器这些科技小鲜肉集体扑街，军工老大哥也蔫了吧唧。反观美容护理板块，芭薇股份直接30cm涨停，连云 港、川宁生物这些冷门股突然变显眼包。这行情就像火锅局——辣锅沸腾（消费股），清汤寡水（科技股），吃得人冰火两重天。 美容股为啥突然吃香？ 山东卫健委刚甩出王炸政策——允许医美机构搞光电注射项 ...

Market Overview - On May 15, A-shares experienced a decline, with the Shanghai Composite Index falling by 0.42% to 3389.75 points, the Shenzhen Component Index down by 1.12%, and the ChiNext Index decreasing by 1.35% [1][2] - The total trading volume for A-shares reached 765.59 billion yuan [1] Economic Indicators - The People's Bank of China conducted a 645 billion yuan reverse repurchase operation with a fixed interest rate of 1.40%, resulting in a net withdrawal of 219.1 billion yuan for the day [2] Industry Insights - The China-U.S. Economic and Trade Cooperation Exchange Conference was successfully held in Washington, emphasizing the long-standing and mutually beneficial trade relationship between the two countries [3] - Despite current challenges, there is significant potential for future cooperation, particularly in maintaining global supply chain stability [3] Sector Performance - Port and shipping stocks saw a resurgence, with notable increases in shares of Nanjing Port, Lianyungang, and Ningbo Maritime [3] - Beauty and personal care stocks also performed well, with companies like Jieya Co. and Furuida reaching their daily limit up [3] - Synthetic biology stocks were active, with companies such as Chuaning Biological, Jindawei, and Hainan Haiya hitting their daily limit up [3] Sector Trends - The synthetic biology sector is expected to grow, with significant applications in various fields, although it currently holds a limited share in the overall chemical market [4] - The international landscape for synthetic biology is primarily dominated by the U.S. and Europe, which may influence domestic policy and development [4] Company Profiles 1. **Chuaning Biological**: Focuses on synthetic biology with products in production and plans to expand into high-value products and efficient strains by 2025 [7] 2. **Jieya Co.**: A leading manufacturer of wet wipes, shifting focus towards wet toilet paper and expanding into medical devices and cosmetics [8] 3. **Furuida**: Aims to build a comprehensive health industry chain, leveraging R&D strengths in cosmetics and pharmaceuticals [8] 4. **Jindawei**: Positioned as a leader in the health supplement market, benefiting from market expansion and stable financial performance [8]

| 电子 | | | | 朝阳科技 | | | --- | --- | --- | --- | --- | --- | | 通信 | -1.52 | 339.69 | -16.08 | 立昂技术 | -6.83 | | 国防军工 | -1.72 | 373.12 | -3.43 | 天箭科技 | -8.86 | | 计算机 | -2.32 | 698.73 | 8.09 | 志晟信息 | -10.09 | 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。 证券时报·数据宝统计，截至上午收盘，今日沪指跌0.42%，A股成交量658.94亿股，成交金额7655.90亿 元，比上一个交易日增加4.16%。个股方面，1613只个股上涨，其中涨停60只，3607只个股下跌，其中 跌停9只。从申万行业来看，美容护理、煤炭、农林牧渔等涨幅最大，涨幅分别为3.11%、1.08%、 0.65%；计算机、国防军工、通信等跌幅最大，跌幅分别为2.32%、1.72%、1.52%。（数据宝） 今日各行业表现（截至上午收盘） | 申万行业 | 行业涨跌（%） | 成交额（亿元） | 比上日（%） | 领涨（跌）股 | 涨跌幅 ...

Market Overview - On May 15, the three major stock indices in Shanghai and Shenzhen opened lower and experienced fluctuations, with the ChiNext index leading the decline [1] - The Shanghai Composite Index closed at 3389.75 points, down 0.42%, with a trading volume of approximately 293.5 billion yuan; the Shenzhen Component Index closed at 10238.63 points, down 1.12%, with a trading volume of approximately 446.9 billion yuan; the ChiNext Index closed at 2055.06 points, down 1.35%, with a trading volume of approximately 206.2 billion yuan [1] Sector Performance - The consumer sector showed strength, with significant gains in beauty care, pet economy, and food sectors, including stocks like Jieya Co., Lafang Home, and Xiwang Food hitting the daily limit [1] - The synthetic biology concept also surged, with stocks like Chuaning Biology, Furida, and Jindawei reaching the daily limit [1] - Conversely, computing power concept stocks underwent adjustments, with Hongjing Technology dropping nearly 10% [1] Institutional Insights - Galaxy Securities noted that the temporary easing of tariff policies benefits electronic companies exporting directly to the U.S., reducing costs associated with transshipment trade, and provides a window for domestic consumer electronics companies [3] - Huatai Securities highlighted the CIBF2025 event focusing on solid-state batteries and related technologies, indicating a strong interest in the solid-state battery sector [3] - Changjiang Securities emphasized that stable fundamentals, high dividend logic, and the expansion of passive funds will drive the continued recovery of undervalued bank stocks [3] News Highlights - China led the development of international standards for an aging-inclusive digital economy, with the ISO publishing guidelines that address the participation of the elderly in various digital economic scenarios [4] - Sensor Tower reported that global in-app purchase revenue for short video applications reached nearly $700 million in Q1 2025, nearly quadrupling from Q1 2024, with the U.S. being the highest revenue market [5] - Heng Rui Medicine officially launched a global public offering of H-shares, planning to issue 225 million shares, with a potential maximum fundraising amount of 13.08 billion HKD [6]

市 场 研 究 [Table_Title] 万联晨会 [Table_MeetReportDate] 2025 年 05 月 15 日 星期四 [Table_Summary] 概览 核心观点 【市场回顾】 周三 A 股三大指数集体收涨，截止收盘，沪指收涨 0.86%，深成指收 涨 0.64%，创业板指收涨 1.01%。沪深两市成交额 13165.99 亿元；申 万行业方面，非银金融、交通运输、食品饮料领涨，国防军工、美容 护理、机械设备领跌；概念板块方面，中韩自贸区、航运概念、自由 贸易港概念涨幅居前，HJT 电池、BC 电池、TOPCON 电池概念跌幅居 前；港股方面，恒生指数收涨 2.3%，恒生科技指数收涨 2.13%；海外 方面，美国三大指数涨跌不一，道指收跌 0.64%，标普 500 收涨 0.72%， 纳指收涨 0.72%。 【重要新闻】 【美国调整对华加征关税】于美东时间 5 月 14 日凌晨 0 时 01 分，美 国撤销对中国商品加征的共计 91%的关税，调整实施 34%的对等关税 措施，其中 24%的关税暂停加征 90 天，保留剩余 10%的关税。同时， 美方还将对中国小额包裹的国际邮件从价税率 ...

01 市场洞察 宏观经济承压，关税博弈影响下股债表现分化 4月，国内宏观经济总体承压，反映国内经济先行指标的制造业PMI录得49.0%，在3月份50.5% 的基础上回落1.5%，时隔两个月重回收缩区间。制造业景气水平的回落主要是受到生产指数、 新订单指数、原料库存指数和从业人员指数环比下行所带来的影响。3月份CPI同比降低0.1%， PPI同比下降2.8%。相比于2月份CPI和PPI同比分别下降0.7%和2.2%而言，CPI降幅收窄主要 是受到食品价格降幅缩小和服务价格由降转升的影响；生产资料价格和生活资料价格的降幅上 升，使得PPI同比降幅扩大。 晨 星 月 报 4月，在美国关税政策的扰动下，包括中国在内的全球多个国家和地区的股市均出现了较大幅 度的调整。随后，国家队和央企出手托底市场，助力A股超跌反弹。中旬以来，虽然一季度超 预期的经济数据和中美关税博弈一度出现缓和使得股市继续企稳，但随着市场开始评估关税博 弈对上市公司盈利水平的负面影响，以及月末公布的PMI数据不及预期，令股市再度承压。从 投资侧来看，主要股指在4月集体收跌，其中上证指数和深证成指分别下跌1.70%和5.75%。代 表大盘股、中盘股和小 ...

Market Overview - The A-share market showed a positive trend today, with major indices mostly rising. The Shanghai Composite Index increased by 0.86% to close at 3403.95 points, the Shenzhen Component Index rose by 0.64% to 10354.22 points, and the ChiNext Index gained 1.01% to finish at 2083.14 points. The total trading volume in the Shanghai and Shenzhen markets reached 13167 billion yuan, an increase of approximately 252 billion yuan compared to the previous trading day [1][14]. Industry Performance - Among the Shenwan first-level industries, non-bank financials, transportation, food and beverage, and comprehensive retail sectors led the gains, with increases of 3.99%, 1.79%, 1.68%, and 1.31% respectively. Conversely, the defense industry, beauty care, machinery equipment, social services, and electric equipment sectors experienced declines, with decreases of 0.74%, 0.39%, 0.37%, 0.17%, and 0.16% respectively [1][14]. Concept Sector Performance - The top-performing concept sectors today included insurance, stock trading software, intelligent logistics, and financial technology, among others. Notably, sectors such as large aircraft, aircraft carriers, and military-civilian integration saw a pullback [2][11].

证券时报·数据宝统计，截至上午10:28，今日沪指跌0.08%，A股成交量432.28亿股，成交金额5329.18亿 元，比上一个交易日减少27.38%。个股方面，1306只个股上涨，其中涨停43只，3867只个股下跌，其 中跌停8只。从申万行业来看，有色金属、通信、交通运输等涨幅最大，涨幅分别为0.70%、0.44%、 0.42%；美容护理、纺织服饰、电力设备等跌幅最大，跌幅分别为1.09%、1.03%、0.93%。（数据宝） | 轻工制造 | | | | 中荣股份 | | | --- | --- | --- | --- | --- | --- | | 电力设备 | -0.93 | 390.07 | -42.37 | 华民股份 | -9.35 | | 纺织服饰 | -1.03 | 76.13 | -27.88 | 太湖雪 | -8.55 | | 美容护理 | -1.09 | 40.33 | 1.91 | 稳健医疗 | -3.29 | 今日各行业表现（截至上午10:28） | 申万行业 | 行业涨跌（%） | 成交额（亿元） | 比上日（%） | 领涨（跌）股 | 涨跌幅（%） | | --- | --- | ...

2025 年 05 月 14 日 开源晨会 0514 ——晨会纪要 沪深300 及创业板指数近1年走势 -40% -20% 0% 20% 40% 60% 2024-05 2024-09 2025-01 沪深300 创业板指 数据来源：聚源 昨日涨跌幅前五行业 | 行业名称 | 涨跌幅(%) | | --- | --- | | 银行 | 1.521 | | 美容护理 | 1.177 | | 医药生物 | 0.903 | | 交通运输 | 0.720 | | 煤炭 | 0.622 | | 数据来源：聚源 | | 昨日涨跌幅后五行业 | 行业名称 | 涨跌幅(%) | | --- | --- | | 国防军工 | -3.067 | | 计算机 | -0.805 | | 机械设备 | -0.660 | | 电子 | -0.639 | | 通信 | -0.611 | 数据来源：聚源 吴梦迪（分析师） wumengdi@kysec.cn 证书编号：S0790521070001 观点精粹 总量视角 【宏观经济】对中美日内瓦贸易会谈的几点理解——宏观经济点评-20250513 北京时间 5 月 12 日，中美在瑞士日内瓦发布 ...

近期中美关税政策成为市场的一大关注点。12日，中美日内瓦经贸会谈联合声明发布，双方关税大幅下 降。 多位券商分析师认为，关税降级幅度大超市场预期，经济基本面预期和市场情绪都可能大幅改善，或助 力国内权益市场波动中枢抬升。 中美经贸会谈进展超预期，5月13日A股高开，沪指探出近期这波反弹中的新高3386.23点，最终收于 3374.87点，收涨0.17%。 当日，沪深两市获主力资金流入3808.3亿元，有7个行业获得主力资金净流入，主要为美容护理、医药 生物、基础化工、交通运输、社会服务、纺织服饰、公用事业等行业，而国防军工、计算机、电子、机 械设备、汽车、电力设备等行业遭主力资金卖出较多。这与12日主力资金净流入和净流出的行业有所相 反。类似的情况在近期反复出现。 就A股后市走势来看，上述券商分析师认为，短期A股延续震荡偏强走势，可能突破上行；在中期维度 上，指数级别走势依然依赖于基本面改善。 主力资金净流入7个行业 5月13日，A股市场成交1.326万亿元。其中，电子、机械设备、计算机、电力设备行业成交额超过千亿 元，国防军工、汽车、基础化工、医药生物、通信等行业的成交额在500亿～1000亿元之间。相较而 ...