路演时间 ： 2025年5月29日星期四下午14:00 路演形式： 线上，腾讯会议；现场路演 地点： 中关村医疗器械园 主办方： 思宇MedTech、中关村联新生物医药产业联盟 协办方： 北京通和立泰生物科技有限公司、中关村医疗器械园有限公司 项目报名方式： 复制此链接到浏览器中填写。 https://docs.qq.com/form/page/DUFBzS2xteFh1ZUph 点击文末 "阅读原文" 填写报名表，或者复制链接到浏览器中填写。 或扫描二维码进行填写 （注：以上是CEO报名表。投资人报名通知会在路演前五天发出。） 思宇MedTech组织的项目路演特色： 1. 创始人为研发或医生背景，良好的教育和职业履历。 1 哪些项目可以报名？ 1. 融资阶段：天使轮~C轮之间均可。 2. 参与的投资人是经过审核的、有相关投资案例的机构。 3. 项目可直接对接投资人，简单高效。 2. 优先医院医生的科技成果转化项目。 3. 领域包括生物医药、医疗器械、医学美容等。 项目确认后，我们会向往期参与过思宇路演的、投过医疗器械的投资人一对一发路演通知（报名 思宇路演的投资人，均需提交投资案例的审核资料） （往期参加过 ...

沪指5月16日下跌0.40%，申万所属行业中，今日上涨的有15个，涨幅居前的行业为汽车、机械设备， 涨幅分别为1.91%、0.83%。跌幅居前的行业为美容护理、非银金融，跌幅分别为1.31%、1.21%。交通 运输行业今日下跌0.81%。 交通运输行业今日下跌0.81%，全天主力资金净流出12.50亿元，该行业所属的个股共125只，今日上涨 的有19只，涨停的有6只；下跌的有103只。以资金流向数据进行统计，该行业资金净流入的个股有42 只，其中，净流入资金超千万元的有12只，净流入资金居首的是三羊马，今日净流入资金6027.49万 元，紧随其后的是大秦铁路、飞力达，净流入资金分别为4519.52万元、3036.01万元。交通运输行业资 金净流出个股中，资金净流出超5000万元的有8只，净流出资金居前的有连云港、中远海发、宁波远 洋，净流出资金分别为2.22亿元、1.71亿元、1.31亿元。 交通运输行业资金流入榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 001317 | 三羊马 | 9. ...

Market Overview - The Shanghai Composite Index fell by 0.40% on May 16, with 15 industries rising, led by the automotive and machinery equipment sectors, which increased by 1.91% and 0.83% respectively [1] - The beauty care and non-bank financial sectors experienced the largest declines, with drops of 1.31% and 1.21% [1] Capital Flow Analysis - The net inflow of capital in the two markets was 307 million yuan, with 14 industries seeing net inflows [1] - The automotive sector had the highest net inflow, amounting to 4.616 billion yuan, while the basic chemical industry saw a net inflow of 1.981 billion yuan with a daily increase of 0.60% [1] Machinery Equipment Sector Performance - The machinery equipment sector rose by 0.83%, with a total net inflow of 1.758 billion yuan [2] - Out of 530 stocks in this sector, 395 stocks rose, including 6 that hit the daily limit, while 113 stocks fell, with 2 hitting the lower limit [2] - The top three stocks with the highest net inflow were: - Rifa Precision Machinery (3.40 billion yuan) - Longxi Co., Ltd. (2.27 billion yuan) - Hezhong Intelligent (1.69 billion yuan) [2] Machinery Equipment Sector Capital Outflow - The top three stocks with the highest net outflow were: - Tuosida (1.699 billion yuan) - Qin Chuan Machine Tool (1.2849 billion yuan) - Daye Co., Ltd. (933.53 million yuan) [4] - The machinery equipment sector had several stocks with significant capital outflows, indicating potential selling pressure [4]

Market Overview - The Shanghai Composite Index closed down 0.4% at 3367.46 points, while the Shenzhen Component Index fell 0.07% and the ChiNext Index decreased by 0.19% [1] - A-shares had a total trading volume of 1.12 trillion yuan, showing a slight decrease compared to the previous day [1] - The automotive and machinery sectors performed well, while beauty care, non-bank financials, and food and beverage sectors experienced significant pullbacks [1] Gold Market Insights - Gold prices stabilized after a recent decline, with the Gold ETF (518800) rising by 1.65% [1] - Federal Reserve Chairman Jerome Powell indicated that the U.S. may be entering a new phase of more frequent supply shocks and unstable inflation, which could boost market expectations for future interest rate cuts, benefiting gold prices [2] - The latest U.S. inflation data showed a year-on-year CPI decrease to 2.3% in April, down from the previous value and below expectations [2] - The core CPI remained stable at 2.8%, indicating a mixed inflation outlook [2] - Geopolitical tensions, particularly the Russia-Ukraine talks, may further pressure gold prices, but long-term factors like monetary expansion and global de-dollarization trends could support gold demand [3] Automotive Sector Performance - The automotive sector showed strong performance, with the Automotive ETF (516110) increasing by 1.77% [4] - Domestic economic data indicated a year-on-year CPI of -0.1% in April, reflecting ongoing demand issues despite some positive influences [4] - April saw automotive production and sales of 2.619 million and 2.590 million units, respectively, with year-on-year growth rates of 8.9% and 9.8% [5] - Cumulative production and sales from January to April reached 10.175 million and 10.060 million units, marking increases of 12.9% and 10.8% year-on-year [5] - The automotive sector's recovery is expected to be driven primarily by domestic demand, with potential short-term boosts from U.S.-China trade negotiations [5]

每经记者｜任飞 每经编辑｜肖芮冬 今日有媒体报道称，业内人士指出，"近日关于公募考核基准导致市场调仓的有关分析不准确、不专 业。公募基金近期不存在大规模调仓现象。即使未来要优化业绩比较基准，调整的也是基准本身，目的 是使基金产品更加名副其实，根本无需大规模调仓"。 由《推动公募基金高质量发展行动方案》引发的基金资产配置以及投资风格锚定的策略等话题不断被提 及。一方面，主动偏股基金中，有大量参考沪深300指数作为业绩比较基准的产品；另一方面，该指数 核心权重中的银行、非银金融等行业资产又被基金所低配。 从《每日经济新闻》记者了解的情况来看，未来随着政策的变化，主动权益类基金底层的运行逻辑可能 发生变化，业绩表现将会贴近市场宽基表现，配置也将更加均衡。不过，目前公募的换手率依然偏高， 持仓调整或非一蹴而就的事情，如何在顺应政策要求的前提下进行过渡，或是目前业内重要的工作之 一。 公募基金业绩基准与实际配置存在差异 一则于5月7日印发的《推动公募基金高质量发展行动方案》，激起二级市场的金融股热潮。看似不相关 的两个事件，为何在近期频频被业内提及？ 有业内人士认为，《行动方案》可能会推动公募投资配置倾向发生趋势性的变 ...

万联证券版权所有发送给杭州同花顺数据开发有限公司 .同花顺.yjbg@myhexin.com p1 证券研究报告|美容护理 25Q1 美护基金持仓比例小幅回升，个护、医 [Table_IndustryRank] 强于大市(维持) [Table_ReportType] ——美容护理行业 2025Q1 基金持仓分析[Table_ReportDate] [Table_Summary] 投资要点： 美容护理行业：25Q1 基金配置比例环比回升。2025Q1，SW 美容护理行 业流通 A 股市值合计为 2542.03 亿元，环比 24Q4 提升 3.38%，其中， 美容护理基金持股总市值为 691.82 亿元，基金配置比例（美容护理行 业基金持股总市值/全行业基金持股总市值）为 0.27%，环比 24Q4 提升 0.06pcts，超配比例为-0.05%，环比 24Q4 提升 0.05pcts，仍然处于低 配区间。 子板块：个护、医美处于超配区间，化妆品低配比例创新低。（1）个护 用品：个护用品板块 21Q3-22Q3 基金配置比例处于历史低位，22Q4 后 出现回升，25Q1 基金配置比例为 0.09%（环比+0.02 ...

Group 1 - The core viewpoint of the articles indicates that the market is expected to experience a steady upward trend supported by policy measures and liquidity easing, with a focus on technology growth and consumer recovery as the main driving forces [1][2] - The Central Political Bureau meeting emphasized timely interest rate cuts and reserve requirement ratio reductions, which are expected to release liquidity through structural tools, thereby solidifying the market bottom [1] - In Q1 2025, the net profit attributable to shareholders of A-shares turned positive year-on-year, with significant recovery in the profitability of small and medium-sized stocks, particularly in the TMT and consumer sectors [1] Group 2 - The CSI 500 Quality Growth Index consists of 100 listed companies selected for their high profitability, sustainable earnings, and strong cash flow, providing diverse investment options for investors [2] - As of April 30, 2025, the top ten weighted stocks in the CSI 500 Quality Growth Index accounted for 24.07% of the index, with notable companies including Chifeng Jilong Gold Mining and Ninebot [2][4] - The 500 Quality Growth ETF closely tracks the CSI 500 Quality Growth Index, offering investors a way to invest in these high-quality growth companies [2][4]

| 申万行业 | 行业涨跌（%） | 成交额（亿元） | 比上日（%） | 领涨（跌）股 | 涨跌幅（%） | | --- | --- | --- | --- | --- | --- | | 汽车 | 1.24 | 417.54 | 13.44 | 华密新材 | 19.51 | | 机械设备 | 0.84 | 539.35 | -0.96 | 常辅股份 | 16.81 | | 国防军工 | 0.41 | 244.13 | -20.06 | 利君股份 | 10.02 | | 电力设备 | 0.21 | 321.01 | -4.16 | N泽润 | 113.79 | | 基础化工 | 0.13 | 371.46 | -14.33 | 新瀚新材 | 20.00 | | 环保 | 0.11 | 41.84 | -15.19 | 深水海纳 | 5.84 | | 有色金属 | 0.11 | 232.99 | -8.63 | 中洲特材 | 17.96 | | 综合 | 0.07 | 13.57 | 64.40 | 综艺股份 | 6.05 | | 电子 | 0.01 | 437.90 | -17.16 | 精研科技 | 8. ...

| 汽车 | 865.97 | -1.96 | -0.23 | | --- | --- | --- | --- | | 机械设备 | 934.52 | -2.09 | -0.22 | | 公用事业 | 423.34 | -2.28 | -0.54 | | 电力设备 | 1262.27 | -3.47 | -0.27 | | 计算机 | 1369.11 | -7.89 | -0.57 | | 非银金融 | 1555.22 | -8.19 | -0.52 | | 电子 | 2128.95 | -9.30 | -0.43 | 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。 以幅度进行统计，交通运输行业融资余额增幅最高，最新融资余额为338.74亿元，环比增长0.74%，其 次是美容护理、房地产、煤炭行业，环比增幅分别为0.72%、0.50%、0.38%；融资余额环比降幅居前的 行业有家用电器、计算机、公用事业等，最新融资余额分别有252.32亿元、1369.11亿元、423.34亿元， 分别下降0.71%、0.57%、0.54%。（数据宝） 5月15日各行业融资余额环比变动 | 代码 | 最新融资余额 ...

晨会纪要（2025/05/16） 宏观及策略研究 外部环境显著改善，市场机会关注择时——A 股市场投资策略周报 证 券 研 究 报 告 晨 会 纪 要 请务必阅读正文之后的声明 渤海证券股份有限公司具备证券投资咨询业务资格 1 of 4 晨会纪要（2025/05/16） 编辑人 崔健 022-28451618 SAC NO：S1150511010016 cuijian@bhzq.com 渤海证券研究所晨会纪要（2025.05.16） 1、市场回顾 近 5 个交易日（5 月 9 日-5 月 15 日），重要指数多数收涨；其中，上证综指收涨 0.86%，创业板指收涨 0.68%； 风格层面，沪深 300 收涨 1.41%，中证 500 收跌 1.01%。成交量方面有所缩量，两市统计区间内成交 6.26 万亿元，日均成交额达到 1.25 万亿元，较前三个交易日的日均成交额减少 1137.47 亿元。行业方面，申万一 级行业涨多跌少，其中，美容护理、银行、非银金融行业涨幅居前，而计算机、电子、国防军工行业跌幅 居前。 2、数据方面 2025 年 4 月社融同比多增超 1.2 万亿元，其中政府债券融资是主要支撑项，与 ...