Group 1: New Stock Market Performance - The average increase of new stocks listed since 2024 is approximately 3.0%, with about 82.9% of new stocks showing positive returns[1] - The average increase for new stocks on the North Exchange is 5.5%, with around 96.2% of new stocks experiencing gains[5] - The average issuance price-to-earnings ratio for new stocks last week was 24.2X, with a subscription success rate of 0.0267%[4] Group 2: Market Trends and Recommendations - The current market is in a transformation window, with significant policy clarity expected to gradually materialize, indicating a potential new active cycle[2] - Caution is advised due to ongoing external disturbances, including geopolitical tensions and tariff negotiations, which may lead to market fluctuations[2] - Focus should be on near-term new stocks that have undergone sufficient adjustment and offer relatively high cost-performance ratios, particularly those benefiting from hot themes or policy expectations[3] Group 3: Upcoming New Stocks - This week, five new stocks are set to complete subscriptions, including one from the Sci-Tech Innovation Board and two from the Growth Enterprise Market[7] - One stock, Guqi Down Material, is expected to start pricing inquiries, being a significant supplier of duck down and goose down materials[8]

请各位听众升级为见闻最新版APP，以便成功收听以下音频。 华见早安之声 市场概述 要闻 中美经贸中方牵头人、国务院副总理何立峰出席新闻发布会表示，中美达成重要共识，会谈取得实质性进展。 中国4月CPI同比降0.1%、与上月持平，PPI同比降幅扩大至2.7%。 日本首相石破茂重申"零关税"，要求美国全面取消汽车关税。 印巴双方宣布停火后不久，印控克什米尔地区再次传出爆炸声。印度指巴基斯坦违反停火协议，巴方否认。 乌克兰准备无条件停火至少30天，普京提议5月15日恢复俄乌谈判。泽连斯基：乌克兰已做好与俄罗斯举行会谈的准备。 野村：日本寿险美元资产占比过高，一旦减持或对冲，将对美元产生重大压力。 投资者关注贸易会谈进展、消化美联储政策及第一季度财报数据。 美股周五开盘上涨，三大指数大多小幅收跌，全周均下跌。特斯拉一度涨超7.8%，台积电盘初涨约3%后收窄至不足1%，Lyft因扭亏为盈且预订量增长，股 价飙升28%。中概指数全周累计跌1.4%。 10年期美债收益率周五波动不大，全周上涨约7个基点。美元指数一度跌超0.5%后企稳于100上方。黄金终结两连跌，美油盘中涨近2.6%。 中美经贸高层会谈取得了实质性进展，达成 ...

这组公司的特征是持续三年扣非净利润均保持正增长，今年一季度的净利润增长并未建立在去年一季度 业绩下滑导致基数低的基础上。这里面一共10家公司，其中估值最低的是同力股份， 估值仅有11.2倍 ，但2025年Q1扣非净利润增速高达60.66%，可谓是低估值高增长，公司增长逻辑有两点，一是新能源 类和无人价值类高价值产品的销售占比提升，二是海外市场的拓展销售。作为公司上游的万通液压同样 受益于行业这块业务变革，此外 万通液压的高毛利油气弹簧产品成为公司业绩增长的全新增量 。 其他8家公司中营收净利润均保持双位数增长，且扣非净利润增速更快的有 开发科技、德源药业、路斯 股份、捷众科技、开特股份 。其中开发科技是今年上市的新股，公司一季度业绩大增主要系海外需求的 增长，公司90%以上营收来自海外，主要来自欧洲，并且布局中东、南美、东南亚等新兴增量市场，对 美风险敞口低。 一、持续绩优股 德源药业是北证医药股中经营极为稳健的一家该公司，10几年持续保持正增长，公司立足糖尿病类仿制 药，投入研发进行创新药的布局。 路斯股份今年一季度增速并不快，公司业务还是以出口为主，其中欧洲和俄罗斯为主要市场，对美是新 的增长点，但由于关 ...

2连板万向钱潮：拟收购WAC100%股权，交易方案正在进一步磋商 万向钱潮公告，公司股票于5月8日、5月9日连续两个交易日收盘价格涨幅偏离值累计达到20.94％， 属于股票交易异常波动情况。公司拟通过发行股份及支付现金方式，购买Wanxiang America Corp.100%股权，并向不超过35名特定投资者发行股份募集配套资金。本次交易构成关联交易，预计 将构成重大资产重组，不构成重组上市。目前，公司及相关各方积极推进本次交易整体工作进程。本 次交易所涉及的尽职调查、审计、评估等各项工作正在推进中，交易方案正在进一步磋商，交易相关 方尚未签署正式交易文件。 3连板成飞集成：近期公司经营情况及内外部经营环境未发生重大变化 成飞集成公告，公司股票于5月8日、5月9日连续两个交易日内收盘价格涨幅偏离值累计超过20%， 属于股票交易异常波动情形。经核实，公司前期披露的信息不存在需要更正、补充之处，近期公司经 营情况及内外部经营环境未发生重大变化，公司、控股股东和实际控制人不存在关于公司的应披露而 未披露的重大事项。 曲江文旅：控股股东所持4.7%公司股份拟被拍卖 2025.05. 11 5月11日晚间，沪深两市多 ...

[Table_Reportdate] 2025年05月09日 [诺泰生物（ Table_NewTitle] 688076）：业绩保持高增长， 多肽领先地位持续巩固 ——公司简评报告 [table_main] 投资要点 22% [Table_QuotePic] -30% -20% -9% 1% 12% 33% 43% 24-05 24-08 24-11 25-02 诺泰生物 沪深300 [相关研究 Table_Report] 《诺泰生物（688076）：多肽优势持 续扩大，业绩显著超预期——公司简 评报告》 2024.08.27 《诺泰生物（688076）：业绩强劲增 长，产销研齐头并进——公司简评报 告》 2024.04.02 《诺泰生物（688076）：业绩超预期， 自主产品为主要增长引擎——公司 简评报告》 2023.10.23 公 司 简 评 医 药 生 物 [Table_invest] 买入（维持） 报告原因：业绩点评 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 公 司 研 究 [证券分析师 Table_Authors] 杜永宏 S06305 ...

证券研究报告 | 2025年05月09日 | 晨会纪要 | | --- | | 数据日期:2025-05-08 | 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） | 3351.99 | 10197.65 | 3852.89 | 11359.70 | 2825.99 | 1026.43 | | 涨跌幅度（%） | 0.27 | 0.92 | 0.55 | 0.81 | 1.48 | -0.36 | | 成交金额（亿元） | 5016.11 | 7917.66 | 2469.87 | 2808.35 | 3757.92 | 217.02 | 宏观快评:美国 5 月 FOMC 会议点评-政策观望窗口期延长，短期重心仍在 通胀 【常规内容】 宏观与策略 宏观周报:高技术制造业宏观周报-国信周频高技术制造业扩散指数略有 下降 固定收益周报:政府债务周度观察-土地收储项目披露超 3500 亿 行业与公司 非银行业快评:《推动公募基金高质量发展行动方案》点评-重权益 ...

各行业超级龙头，"漂亮50"：A50ETF基金（159592）跟踪的A50指数布局各行业超大市值龙头股，这 些绩优大白马在供给侧改革的趋势下受益于市场集中度提升，在业绩披露期或更受资金青睐。 A50指数成份股中，小商品城涨超2%，招商银行、恒瑞医药、长江电力、美的集团、三一重工涨超 1%，其余成份股积极跟涨。 消息面上，二季度以来，外资机构调研A股的热情持续高涨，"扎堆"现身上市公司。Wind数据显示，从 4月初至5月8日，共有超470家A股公司接待了外资机构调研。从行业来看，电子、医药生物、机械设备 等领域公司受青睐。梳理发现，外资机构的关注点主要集中在两大方向：一是A股公司的海外板块，包 括海外市场拓展、产能建设情况等；二是机器人、芯片和AI等前沿科技领域的近况。 A股核心资产代表，"A股的标普500"：A500ETF（159339）跟踪的A500指数以不足A股市场10%的成份 股数量，覆盖全市场63%的总营收和70%的总净利润，或是大家长期布局我国资本市场高质量发展趋势 的有力工具。 5月9日，A股市场低位震荡，A500指数小幅回调。A500ETF（159339）过去20个交易日日均成交额2.89 亿元 ...

Group 1 - In the first four months of the year, 555 out of 999 comparable ordinary stock funds achieved positive performance, accounting for 55% of the total, with 25 funds rising over 20% [1] - The top-performing funds include Ping An Advanced Manufacturing Theme Stock A and C, with returns of 52.59% and 52.29% respectively [1] - The top ten holdings of the Ping An Advanced Manufacturing fund include Hengli Hydraulic, Zhejiang Rongtai, and Huashu High-Tech [1] Group 2 - The healthcare sector saw significant gains, with funds like Bank of China Health A and C, and Huaan Pharmaceutical Biotech A and C achieving returns of 41.72%, 41.53%, 40.70%, and 40.52% respectively [2] - The top holdings of the Bank of China Health fund include Heng Rui Medicine and Xin Nuo Wei [2] - The management of the Bank of China Health fund transitioned to Wang Fangzhou and Zheng Ning in March [2] Group 3 - The worst-performing fund was Guolian An Technology Power Stock, which declined by 17.45% [3] - This fund's top holdings include Hengxuan Technology and Ruixin Micro [3] - The fund is managed by veteran Pan Ming, who has extensive experience in investment management [3] Group 4 - Several funds, including Caitong Integrated Circuit Industry Stock C and GF High-end Manufacturing Stock C, suffered declines of 15.02% to 14.70% due to poor performance in the technology and new energy sectors [4] - The performance of these funds reflects broader challenges in the technology and manufacturing sectors [4] Group 5 - The top 100 stock funds by performance in the first four months show a diverse range of returns, with Ping An Advanced Manufacturing leading and several healthcare funds also performing well [5][6] - The data indicates a strong interest in healthcare and advanced manufacturing sectors among investors [5][6]

Core Viewpoint - Geely has proposed a non-binding offer to privatize Zeekr, aiming to consolidate its automotive business and enhance operational flexibility, amidst uncertainties in the US market for Chinese companies [2][3][11]. Summary by Sections Geely's Proposal - Geely announced a non-binding offer to acquire all outstanding shares of Zeekr at $2.57 per share or $25.66 per American Depositary Share, which represents a premium of approximately 13.6% over the previous closing price [5][7]. - The move is seen as a strategy to focus on the core automotive business and streamline operations under a unified Geely brand [2][3]. Market Reaction - Following the announcement, Geely's stock price increased by 5%, reaching approximately HKD 17.88 per share, with a market capitalization of around HKD 180 billion [3]. - Zeekr's stock price surged over 11% in pre-market trading after the buyout announcement [10]. Zeekr's Performance and Challenges - Zeekr has faced significant challenges, including a high debt-to-asset ratio exceeding 130% and a net loss of CNY 5.791 billion, which is greater than the funds raised during its IPO [16]. - The brand's stock price has been volatile, dropping to a low of $13 per share, and it has not met its sales targets, delivering only 22,221 vehicles against a goal of 230,000 [18][16]. Strategic Implications - If the acquisition is successful, Zeekr will be fully integrated into Geely, potentially enhancing synergies in procurement and technology across the brands [19][20]. - The consolidation reflects Geely's historical strategy of streamlining its brand portfolio to improve market competitiveness, as seen in previous brand integrations [19]. Future Outlook - The outcome of the non-binding offer could lead to two scenarios: successful privatization or continued operation as a publicly traded entity, depending on market conditions and investor sentiment [9][10]. - The potential for Zeekr to be re-listed in Hong Kong has been discussed, but industry insiders suggest this may not be feasible due to concerns over competition with Geely's existing brands [11][12].

备受资本市场关注的*ST长药（300391）（300391.SZ）重整事宜，迎来新进展。5月8日，*ST长药发布 公告称，2025年5月6日，公司和临时管理人分别与产业投资人四川嘉道博文生态科技有限公司等六家机 构签署重整投资协议。 *ST长药方面表示，若公司预重整及重整程序得以顺利推进并重整成功，将有利于改善公司的财务结 构、化解债务。在引入重整投资人后，公司可获得增量资金，有利于恢复和增强公司的持续经营能力。 六家机构携手投资入局 2025年1月20日，*ST长药收到湖北省十堰市中级人民法院（下称"十堰中院"）送达的《决定书》，十 堰中院决定对公司启动预重整，并指定上海市锦天城律师事务所担任公司预重整期间的临时管理人。 公告披露，经*ST长药临时管理人组织召开遴选委员会会议，由遴选委员会对意向投资人提交的重整投 资方案进行评审，最终投票确定了磋商谈判重整投资协议的顺位。经与排序优先的候选投资人进行磋商 后，2025年5月6日，公司和临时管理人分别与产业投资人四川嘉道博文生态科技有限公司、十堰市昊炜 生物科技发展有限公司，财务投资人合肥当歌长弘创业投资合伙企业(有限合伙)、安徽宏业股权投资基 金有限公司、上 ...