2025.06. 10 本文字数：1466，阅读时长大约2分钟 作者 | 第一财经 半导体板块领跌，乐鑫科技、翱捷科技跌超6%，炬芯科技、凯德石英、斯特威等跟跌。 主力资金全天净流入银行、医药生物、电力设备、公用事业、基础化工、有色金属、轻工制造等板块， 净流出计算机、电子、国防军工、汽车、机械设备、传媒、通信等板块。 具体到个股来看，乐山电力、中文在线、工商银行获净流入6.68亿元、5.38亿元、4.79亿元。 6月10日，早盘三大指数维持震荡，午后走弱。截至收盘，沪指跌0.44%，深成指跌0.86%，创业板指 跌1.17%。 | 代码 | 名称 | | 两日图 | | 现价 | 涨跌 | | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | | | | 3384.82 c | -14.96 | | -0.44% | | 399001 | 深证成指 | | | | 10162.18 c | -87.96 | | -0.86% | | 899050 | 北证50 | | | 1427.93 c | | ...

截至收盘，上证指数报收3384.82点，下跌0.44%；深证成指收于10162.18点，下跌0.86%；创业板指下 跌1.17%；科创50指数下跌1.47%。 不含当日上市新股，今日可交易A股中，上涨个股有1262只，占比23.40%，下跌个股有4035只，平盘个 股97只。其中，收盘股价涨停的有64只，跌停股有2只。 证券时报·数据宝统计显示，涨停个股中，主板有55只，北交所2只，创业板6只，科创板1只。以所属行 业来看，上榜个股居前的行业有医药生物、电力设备、交通运输行业，上榜个股分别有12只、6只、6 只。 涨停股中，*ST生物、*ST四环等17只股为ST股。连续涨停天数看，ST联合已连收9个涨停板，连续涨 停板数量最多。从收盘涨停板封单量来看，中科曙光最受资金追捧，收盘涨停板封单有5039.33万股， 其次是宁波海运、易明医药等，涨停板封单分别有2571.03万股、2122.59万股。以封单金额计算，中科 曙光、易明医药、甬金股份等涨停板封单资金较多，分别有34.31亿元、4.16亿元、1.82亿元。（数据 宝） 两市涨停股一览 | 代码 | 简称 | 收盘价（元） | 换手率（%） | 涨停板封单（ ...

| 通信 | | | | 退市鹏博 | | | --- | --- | --- | --- | --- | --- | | 电子 | -1.75 | 1195.91 | 8.93 | 润欣科技 | -7.80 | | 国防军工 | -2.12 | 429.84 | -7.16 | 捷强装备 | -14.53 | | 计算机 | -2.22 | 1072.73 | 13.18 | 退市龙宇 | -35.16 | 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0.51%，A股成交量999.00亿股，成交金额11940.64 亿元，比上一个交易日增加13.24%。个股方面，1047只个股上涨，其中涨停51只，4261只个股下跌。 从申万行业来看，医药生物、美容护理、银行等涨幅最大，涨幅分别为0.51%、0.46%、0.40%；计算 机、国防军工、电子等跌幅最大，跌幅分别为2.22%、2.12%、1.75%。（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） | 比上日（% ...

Market Overview - The Shanghai Composite Index increased by 0.11% as of the morning close, with a trading volume of 661.79 million shares and a total transaction value of 808.39 billion yuan, a decrease of 3.50% compared to the previous trading day [1]. Industry Performance - The banking sector showed the highest increase at 1.04%, with a transaction value of 208.46 billion yuan, up by 24.88% from the previous day, led by Minsheng Bank which rose by 3.70% [1]. - The pharmaceutical and biological industry followed with a 0.79% increase, totaling 900.02 billion yuan in transactions, down by 6.28%, with Sai Sheng Pharmaceutical leading at 20.00% [1]. - The oil and petrochemical sector rose by 0.71%, with a transaction value of 48.56 billion yuan, down by 10.44%, led by Yueyang Xingchang which increased by 3.46% [1]. Declining Industries - The defense and military industry experienced the largest decline at 1.52%, with a transaction value of 303.33 billion yuan, down by 19.95%, led by Jieqiang Equipment which fell by 13.63% [2]. - The computer industry decreased by 1.34%, with a transaction value of 745.93 billion yuan, down by 3.28%, led by the delisted Longyu which dropped by 39.84% [2]. - The telecommunications sector saw a decline of 0.87%, with a transaction value of 392.96 billion yuan, down by 20.67%, led by the delisted Pengbo which fell by 59.68% [2].

从基金调研公司的A股总市值统计，总市值不足100亿元的有10家，分别是炬申股份、华自科技、奇德 新材等。 市场表现上，基金调研股中，近5日上涨的有12只，涨幅居前的有联化科技、超捷股份、奇德新材等， 涨幅为53.04%、25.95%、23.13%；下跌的有2只，跌幅居前的有华森制药、博俊科技等，跌幅为 11.39%、0.25%。 昨日基金共对14家公司进行调研。 证券时报·数据宝统计，6月9日共22家公司被机构调研，按调研机构类型看，基金参与14家公司的调研 活动。博俊科技最受关注，参与调研的基金达3家；华自科技、奇德新材等分别获3家、2家基金集体调 研。 基金参与调研的公司中，按所属板块统计，深市主板公司有7家，创业板公司有6家，科创板公司有1 家。 6月9日基金调研公司一览 | 代码 | 简称 | 基金家数 | 最新收盘价（元） | 近5日涨跌幅（%） | 行业 | | --- | --- | --- | --- | --- | --- | | 300490 | 华自科技 | 3 | 8.49 | 9.97 | 电力设备 | | 300926 | 博俊科技 | 3 | 24.04 | -0.25 | 汽车 ...

证券研究报告 策略 资金透视：资金交投情绪修复 华泰研究 2025 年 6 月 09 日│中国内地 策略周报 核心观点 上周，资金入市热情小幅回升：1）交易型资金热度环比回暖，融资资金在连 续两周净流出后转向净流入，散户资金上周净流出环比收窄，行业 ETF 净流 入扩大，其配置呈现出向成长方向偏移的特征，资金流入医药、拥挤度回落 的 TMT 方向；2）Wind 微盘股成交额占比回升至 2023 年以来相对高位，但 与去年年初相比，本轮资金杠杆水平或更低、仓位控制或更优，资金面负反 馈风险低于此前；3）外资交易活跃度回升，其中主动配置型资金净流出 A 股 规模收窄，被动配置型外资近期相对震荡，趋势性流入或仍需等待。 关注点 1：交易型资金热度环比回升 上周，交易型资金热度小幅回升，配置上向成长方向迁移：1）散户资金上 周净流出环比收窄，配置由前期的防御型资产向电子、计算机等成长方向转 移；2）融资资金在连续两周净流出后转向净流入，资金活跃度小幅回升， 但仍处于春节后的低位水平，方向上，资金对医药的配置力度显著回升；3） 行业 ETF 净流入扩大，电子等 TMT 板块是主要的买入方向。 公募基金：上周普通型、偏股 ...

Summary of Key Points Core Viewpoint - The financing balance of the Sci-Tech Innovation Board (STAR Market) increased by 335 million yuan compared to the previous day, indicating a growing interest in this market segment [1][2]. Financing Balance Overview - As of June 9, the total margin financing balance on the STAR Market reached 153.45 billion yuan, with a daily increase of 338 million yuan [1]. - There are 396 stocks with a financing balance exceeding 100 million yuan, and 18 stocks have a financing balance over 1 billion yuan [1]. Stocks with Significant Financing Inflows - The stocks with the highest net financing inflows include Kingsoft Office, Maiwei Biotech, and Zhuoyi Information, with net inflows of 639.98 million yuan, 624.31 million yuan, and 499.75 million yuan respectively [2]. - The average increase in stock prices for those with net inflows exceeding 10 million yuan was 2.52%, with notable gainers including Rejing Biotech (up 18.15%), Nuocheng Jianhua (up 9.93%), and Guangyun Technology (up 9.89%) [2]. Sector Preferences - Investors showed a preference for stocks in the pharmaceutical, electronics, and computer sectors, with 17, 11, and 5 stocks respectively being favored [2]. - The average ratio of financing balance to market capitalization for these stocks is 3.48%, with Maiwei Biotech having the highest ratio at 6.84% [2]. Notable Stock Performances - Kingsoft Office had a financing balance of 1.206 billion yuan, increasing by 639.98 million yuan, and its stock price rose by 2.33% [2]. - Other notable stocks with significant financing balances and price movements include Maiwei Biotech (up 0.04%), Zhuoyi Information (up 8.93%), and Mai Xinlin (up 9.25%) [2][3].

前期报告提要与市场聚焦 前期观点回顾：新一轮"波动率"上行周期或开启。国内 5 月 PMI 位于荣枯线下方，其中订单虽略有所改善但价 格依旧承压。"两新"政策对国内经济拉动效用边际递减，国内经济"引擎"的重担或落在政府部门，预计未来政府 仍有望适度扩大发债融资规模，并加大对新、老基建以及促使居民可支配收入相关支出的"投入"。美国"滞胀"风 险或抬升，美债信用风险加大，关税 2.0 谈判不确定性上升。故维持中小盘成长风格"切换"至大盘价值防御的观点。 市场聚焦：1、最新多项美国就业数据释放何种信号？2、为什么说 6 月市场"波动率"或再次回升？3、泛红利 资产的投资框架是什么？泛红利资产如何分类？4、不同红利类型股价表现差异背后的原因是什么？5、当前应该如何 配置和筛选红利资产？ 若出口数据或预期走弱，新一轮"波动率"上行周期可能开启 警惕美国劳动力市场持续走弱风险。美国 3 月和 4 月的合计新增就业人数调低了 9.5 万人；5 月失业率连续 3 个 月维持在 4.2%的高位；初请失业金人数 24.7W，创 2024 年 10 月以来的最高值；5 月"小非农"（统计的私营部门）新 增 3.7 万个就业岗位，创 ...

9[Table_Title] 每日复盘 证券研究报告 2025 年 6 月 9 日 2025 年 6 月 9 日创业板指涨逾 1%，创新药概念股再度大 涨 报告要点： 2025 年 6 月 9 日创业板指涨逾 1%，创新药概念股再度大涨。上证指数上 涨 0.43%，深证成指上涨 0.65%，创业板指上涨 1.07%。市场成交额 12862.25 亿元，较上一交易日增加 1343.83 亿元。全市场 4171 只个股上涨，1112 只 个股下跌。 风格上看，各指数涨跌幅排序为：成长>消费>金融>周期>0>稳定；中盘 成长>小盘成长>小盘价值>中盘价值>大盘价值>大盘成长；中证全指表现优 于基金重仓。 分行业看，30 个中信一级行业普遍上涨；表现相对靠前的是：医药 （2.25%），综合（2.06%），纺织服装（1.84%）；表现相对靠后的是：食品饮 料（-0.47%），家电（-0.01%），汽车（-0.01%）。概念板块方面，多数概念 板块上涨，肝素、噪声防治、昨日连板等大幅上涨；刀片电池、托育服务、 麒麟电池等板块走低。 资金筹码方面，主力资金 6 月 9 日净流入 11.95 亿元。其中超大单净流 入 64. ...

Core Viewpoint - The number of terminated share transfer agreements in the A-share market has significantly increased since the implementation of new reduction regulations in May 2024, with 30 companies announcing terminations this year, surpassing the total for 2024 [1][2]. Summary by Relevant Sections Termination of Agreements - As of June 6, 2025, 30 listed companies have announced the termination of share transfer agreements, with 17 of these occurring since May 2025, indicating a notable rise in such cases [1][2][3]. - The majority of these agreements were signed after the new reduction regulations were enacted, with many originating in the fourth quarter of the previous year [3]. Factors Influencing Termination - The increase in terminated agreements may be attributed to stricter regulatory scrutiny following the new reduction rules, particularly concerning actual controllers and major shareholders [4][5]. - Market volatility since September 24, 2024, has led to significant fluctuations in stock prices, which can result in disagreements over transfer prices between parties [4]. - Financial constraints faced by buyers, especially smaller private equity funds, can hinder the execution of agreements, leading to terminations [4]. Regulatory Challenges - The lack of transparency regarding the financial status and funding sources of buyers complicates the regulatory review process for share transfers [6]. - Issues such as private agreements and cross-regional regulatory inefficiencies further complicate the oversight of these transactions [6]. Recommendations for Improvement - Experts suggest enhancing the transparency of private equity funds by requiring disclosure of ultimate beneficiaries and implementing ongoing monitoring of agreements post-transfer [7]. - Strengthening penalties for violations of reduction restrictions could deter non-compliance and improve market integrity [7]. Market Implications - The recent increase in terminated agreements may help standardize market practices, reducing insider trading and conflicts of interest, thereby enhancing long-term investment value [8]. - However, this trend could also lead to fluctuations in stock prices as market expectations regarding share transfers shift [8].