沪指跌0.63%，深成指跌0.62%，创业板指跌1.49%。算力硬件产业链明显回调，CPO、存储器方向领 跌；半导体、消费电子题材走弱。AI应用、创新药、锂电池、免税店、大消费概念股反弹。（AI生 成） ...

南方财经10月31日电，市场早盘市场早间震荡调整，三大指数集体下挫。截至早盘收盘，沪指跌 0.63%，深成指跌0.62%，创业板指跌1.49%。沪深两市半日成交额1.56万亿，较上个交易日放量274亿。 A股午评：创业板指跌超1%，医药、AI应用概念股逆势走强 盘面上热点快速轮动，全市场超3800只个股上涨。从板块来看，医药板块逆势上涨，三生国健20cm涨 停，联环药业、昂利康涨停。锂电板块表现活跃，天际股份2连板，恩捷股份等多股涨停。福建板块再 度走强，平潭发展11天8板。AI应用概念股持续走高，荣信文化、福石控股双双20cm涨停。下跌方面， 算力硬件概念股集体下跌，"易中天"光模块三巨头大幅调整。存储芯片概念股震荡走弱，江波龙跌超 8%。可控核聚变概念股下挫，中国核建触及跌停。 板块方面，影视院线、医药、电池等板块涨幅居前，保险、存储芯片、煤炭、CPO等板块跌幅居前。 相关快讯 2025-10-31 11:33 南方财经10月31日电，市场早盘市场早间震荡调整，三大指数集体下挫。截至早盘收盘，沪指跌 0.63%，深成指跌0.62%，创业板指跌1.49%。沪深两市半日成交额1.56万亿，较上个交易日放量27 ...

【导读】锂电板块集体走强，AI应用概念股火热，创新药活跃 大家好！10月的最后一个交易日，来一起关注最新的市场行情和资讯~ 消息面上，上海有色数据显示，10月30日，六氟磷酸锂平均价格为10.3万元/吨，较上一个交易日上涨2.49%。而在9月30日，该品种平均价格为6.33万元/ 吨。 光伏方面，此前据央视财经报道，国内光伏龙头企业正计划联手收储产能，力争实现价格回归合理区间。协鑫集团董事长朱共山在采访中表示，17家龙头 企业基本上已签字，正在搭建联合体。 10月31日，A股市场早间小幅低开，盘初震荡下跌后拉升。截至发稿，深证成指、创业板指均已翻红。 | 盘面上，上午传媒、电力设备、医药生物等板块走高，锂电池、动力电池、Kimi等概念股活跃；培育钻石、稀土、存储器、光模块等概念股走低。 | | --- | | 港股三大指数早间低开，截至发稿仍然飘绿。比亚迪（002594）股份跌超4%，领跌恒生科技指数成份股。 | | 6261.86 | 9313.52 6005.82 | | --- | --- | | 生指数 -0.08% | 国企指数 -0.36% 恒生科技指数 -0.76% | | 序号代码 名称 | ...

10月31日，翔丰华涨5.16%，截至发稿，报36.66元/股，成交2.79亿元，换手率7.08%，总市值43.64亿 元。 资料显示，上海市翔丰华科技股份有限公司位于上海市宝山区萧云路635弄11号(A7栋)，成立日期2009 年6月12日，上市日期2020年9月17日，公司主营业务涉及锂电池负极材料的研发、生产和销售。主营业 务收入构成为：负极材料99.50%，其他(补充)0.50%。 数据显示，鑫元基金旗下1只基金重仓翔丰华。鑫元国证2000指数增强A（018579）三季度持有股数5.75 万股，占基金净值比例为0.88%，位居第二大重仓股。根据测算，今日浮盈赚取约10.35万元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 鑫元国证2000指数增强A（018579）成立日期2023年8月10日，最新规模9430.95万。今年以来收益 34.08%，同类排名1502/4216；近一年收益37.43%，同类排名1233/3889；成立以来收益34.78%。 鑫元国 ...

10月31日，容百科技涨5.45%，截至发稿，报28.05元/股，成交1.58亿元，换手率0.80%，总市值200.48 亿元。 方正富邦致盛混合A（020424）基金经理为汤戈。 截至发稿，汤戈累计任职时间4年88天，现任基金资产总规模2.52亿元，任职期间最佳基金回报 63.09%， 任职期间最差基金回报3.33%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，宁波容百新能源科技股份有限公司位于浙江省余姚市谭家岭东路39号，成立日期2014年9月 18日，上市日期2019年7月22日，公司主营业务涉及锂电池三元正极材料及其前驱体的研发、生产和销 售。主营业务收入构成为：正极材料96.62%，材料销售2.66%，其他0.46%，前驱体0.26%。 从基金十大重仓股角度 数据显示，方正富邦基金旗下1只基金重仓容百科技。方正富邦致盛混合A（020424）三季度持有股数 4.92万股，占基金净值比例为4.64%，位居第六大重仓股。根据测算，今 ...

派能科技成立于2009年10月28日，于2020年12月30日在上海证券交易所上市，注册地址和办公地址均为上 海市。公司是全球户用储能龙头企业，专注磷酸铁锂储能电池系统，具备全产业链自主研发与垂直整合能 力。 派能科技专业从事磷酸铁锂材料、电芯、电池系统的研发、生产、销售，所属申万行业为电力设备-电池- 锂电池，涉及锂电池、储能、固态电池核聚变、超导概念、核电等概念板块。 资产负债率低于同业平均，毛利率高于同业平均 偿债能力方面，2025年三季度，派能科技资产负债率为28.28%，去年同期为21.51%，低于行业平均的 48.67%。从盈利能力看，当期毛利率为19.58%，去年同期为35.61%，高于行业平均的17.44%。 董事长韦在胜履历丰富 派能科技控股股东为中兴新通讯有限公司，实际控制人无。董事长韦在胜，1962年生，中国国籍，无境外 永久居留权。1988年毕业于西安理工大学机械制造管理工程专业，本科学历；2004年毕业于北京大学工商 管理专业，硕士研究生学历。1988 - 1993年就职于深圳中兴半导体，任财务部长；1993 - 1997年就职于中 兴新，历任区域市场总经理等职；1997 - 201 ...

Group 1 - The market confidence has been positively impacted since mid-October, with policy support boosting the technology sector's performance and trading activity recovering [1] - The capital market is expected to deepen reforms, focusing on serving the real economy and promoting technological innovation, which will enhance market resilience and improve liquidity [1] - Despite a recent adjustment in the A-share market, the "slow bull" trend continues, with sufficient trading volume and positive developments from the China-US talks [1][1] Group 2 - On October 30, the A-share market experienced a decline, with the technology sector underperforming while lithium battery and shipping sectors rose [1] - The market environment is expected to remain favorable, with short-term disturbances subsiding and the A-share index likely to continue its upward trend [1] - Supportive factors for the fourth quarter include "anti-involution" policies, increased household savings entering the market, potential Federal Reserve rate cuts, and technical reversals [1]

Company - Apple's Q4 revenue reached $102.466 billion, a year-on-year increase of 8%, with diluted earnings per share of $1.85, up 13%, exceeding market expectations [1] - Cook forecasts that the company's revenue for Q1 of fiscal year 2026 will grow by 10% to 12% year-on-year, with iPhone sales expected to achieve double-digit growth [1] - China Life reported a net profit of 126.873 billion yuan for Q3, a year-on-year increase of 91.5% [13] - China Pacific Insurance reported a net profit growth of 28.9% year-on-year for the first three quarters [15] - Guotai Junan reported a net profit growth of 132% year-on-year for the first three quarters after merging with Haitong Securities [15] - BYD's net profit for the first three quarters decreased by 7.55% year-on-year [15] - COSCO Shipping's net profit for the first three quarters decreased by 29% year-on-year, with a decline in revenue per container [15] - *ST Chuangxing's chairman was arrested on criminal charges [15] Industry - Five departments, including the Ministry of Finance and the Ministry of Commerce, announced improvements to the duty-free shop policy, effective from November 1, 2025, to boost consumption and optimize the layout of duty-free shops [2] - The US and China reached several consensus outcomes during trade negotiations, including the cancellation of the 10% tariff on fentanyl and a one-year suspension of certain export controls [3] - A new policy financial tool of 500 billion yuan has been fully deployed, expected to drive total project investment exceeding 7 trillion yuan, focusing on technology innovation, consumption expansion, and stabilizing foreign trade [4] - The demand for high-performance computing chips is expected to surge due to rapid growth in downstream applications such as AI, data centers, gaming, and autonomous driving [11] - The price of key materials for electrolytes has surged over 23% due to tight supply, benefiting the profitability of companies in the lithium battery industry [12]

证券研究报告 东吴证券晨会纪要 东吴证券晨会纪要 2025-10-31 宏观策略 [Table_MacroStrategy] 宏观点评 20251030：10 月 FOMC：不承诺 12 月降息——2025 年 10 月 FOMC 会议点评 核心观点：10 月美联储 FOMC 会议以 10-2 投票结果降息 25bps，并宣布 于 12 月 1 日结束缩表，基本符合预期。发布会上 Powell 表示不预设 12 月降息路径，市场解读鹰派，紧货币交易令美元&美债利率上行，黄金和 美股下跌。向前看，如果数据延续当前趋势，12 月降息仍然是大概率事 件。从策略来看，短期降息预期受数据扰动更大，中长期看美联储仍在降 息周期。2026 年 5 月美联储换主席后，明年市场有望迎来美联储更多次 的降息，对应更低的短期美债利率与更恶化的美元信用。 固收金工 [Table_FixedGain] 固收深度报告 20251028：从全行业负债与投融资变化观察信用扩张信号 是否出现？ 全行业信用扩张温和，较过往未见显著发力，但行业间结构性分化仍为信 用扩张主旋律：近年来信用扩张的"广度"与"深度"尚未恢复至疫情前 的水平，即使部分行 ...

Group 1 - The Chinese government will suspend the implementation of export control measures announced on October 9 for one year, indicating the competitive strength of China's lithium battery industry chain [1] - The previous export control measures included restrictions on high-performance battery cells, lithium battery equipment, and advanced materials, aimed at limiting competitive technology exports [1] - The demand for batteries is expected to grow significantly due to the surge in data center needs driven by global AI development, benefiting the entire industry chain [1] Group 2 - The lithium battery industry has experienced prolonged losses in 2023, but recent price increases have created significant profit elasticity [2] - The core product, 6F, has seen a price increase of over 50% since September, reaching above 87,000 [2] - The demand for energy storage is accelerating, with monthly demand exceeding 120,000 tons, indicating a strong market recovery [2] Group 3 - Relevant Hong Kong stocks in the lithium battery industry include CATL, BYD, Longpan Technology, Zhongchuang Innovation, Ruipu Lanjun, and Shuangdeng [3] - Lithium mining companies mentioned are Ganfeng Lithium and Tianqi Lithium [3]