Core Insights - The main point of the article highlights the net inflow and outflow of funds across various sectors and individual stocks in the Chinese stock market on a specific trading day. Fund Flow Summary - The total net outflow of main funds in the Shanghai and Shenzhen markets was 261 million yuan, with the ChiNext board experiencing a net outflow of 685 million yuan, while the CSI 300 index saw a net inflow of 3.295 billion yuan [2] - Among the 28 first-level industries, 13 sectors experienced net inflows, with the electronics sector leading at 2.299 billion yuan, followed by the communication and power equipment sectors, each exceeding 1 billion yuan [2] - The top sectors with net inflows included electronics, communication, power equipment, computer, home appliances, social services, and coal, all showing significant investment interest [2] - Conversely, 18 sectors faced net outflows, with the defense and pharmaceutical sectors leading with outflows exceeding 1.1 billion yuan each [2] Individual Stock Performance - A total of 15 stocks saw net inflows exceeding 200 million yuan, with over 40 stocks having net inflows over 100 million yuan [3] - The leading stock for net inflow was Huadian Technology, with 539 million yuan, marking a new high since December 13, 2024, and a cumulative net inflow of 1.241 billion yuan over five consecutive days [4] - Zhongji Xuchuang followed with a net inflow of 397 million yuan, while Lepu Medical also saw a significant inflow of 397 million yuan, reaching a new high since January 20, 2022 [5] - Other notable stocks with significant net inflows included Dongfang Caifu, Tianfu Communication, Zhongke Jincai, and Juli Suojian [6] Net Outflow Analysis - A total of 37 stocks experienced net outflows exceeding 100 million yuan, with 12 stocks seeing outflows over 200 million yuan [7] - The stock with the highest net outflow was Qianhong Pharmaceutical, with an outflow of 496 million yuan, attributed to a completed share reduction plan by a major shareholder [7] - Other stocks with significant net outflows included BYD, Yunnei Power, and Wuliangye, each exceeding 400 million yuan [7] Retail Sector Activity - In the retail sector, Guofang Group saw a strong performance with a net inflow of 977 million yuan, marking three limit-up days within five trading days [10] - The overall market saw a slight net outflow of 28.88 million yuan in the last trading session, with the ChiNext board experiencing a net outflow of 115 million yuan [8]

6月4日，A股市场整体上涨。截至收盘，上证指数收报3376.2点，上涨0.42%；深证成指收报10144.58点，上涨 0.87%；创业板指收报2024.93点，上涨1.11%。两市合计成交11530.47亿元，较上一交易日增加116.38亿元。 1. 两市全天主力资金净流出近3亿元 | | | 沪深两市最近五个交易日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | 净流入金额 开盘净流入 | 人得发起 | 超大单净买入 | | 2025-6-4 | -2. 61 | -33.75 | -0. 29 | 23. 41 | | 2025-6-3 | -91. 89 | -39. 38 | -8. 11 | -25. 46 | | 2025-5-30 | -352. 62 | -158. 05 | -37.83 | -193. 19 | | 2025-5-29 | 74. 33 | -19.58 | 23.89 | 121. 48 | | 2025-5-28 | -185. 39 | -73. 21 | -22. 45 | -57. 58 | ...

沪指6月4日上涨0.42%，申万所属行业中，今日上涨的有28个，涨幅居前的行业为美容护理、综合，涨 幅分别为2.63%、2.53%。汽车行业今日上涨0.36%。跌幅居前的行业为交通运输、国防军工、公用事 业，跌幅分别为0.58%、0.24%、0.12%。 资金面上看，两市主力资金全天净流入10.74亿元，今日有17个行业主力资金净流入，电子行业主力资 金净流入规模居首，该行业今日上涨1.17%，全天净流入资金30.70亿元，其次是非银金融行业，日涨幅 为0.99%，净流入资金为15.88亿元。 主力资金净流出的行业有14个，汽车行业主力资金净流出规模居首，全天净流出资金17.87亿元，其次 是国防军工行业，净流出资金为17.40亿元，净流出资金较多的还有医药生物、机械设备、银行等行 业。 汽车行业今日上涨0.36%，全天主力资金净流出17.87亿元，该行业所属的个股共275只，今日上涨的有 182只，涨停的有3只；下跌的有86只，跌停的有1只。以资金流向数据进行统计，该行业资金净流入的 个股有124只，其中，净流入资金超3000万元的有7只，净流入资金居首的是祥鑫科技，今日净流入资金 1.22亿元，紧随其后的 ...

主力资金净流出的行业有14个，汽车行业主力资金净流出规模居首，全天净流出资金17.87亿元，其次 是国防军工行业，净流出资金为17.40亿元，净流出资金较多的还有医药生物、机械设备、银行等行 业。 沪指6月4日上涨0.42%，申万所属行业中，今日上涨的有28个，涨幅居前的行业为美容护理、综合，涨 幅分别为2.63%、2.53%。跌幅居前的行业为交通运输、国防军工、公用事业，跌幅分别为0.58%、 0.24%、0.12%。公用事业行业位居今日跌幅榜第三。 资金面上看，两市主力资金全天净流入10.74亿元，今日有17个行业主力资金净流入，电子行业主力资 金净流入规模居首，该行业今日上涨1.17%，全天净流入资金30.70亿元，其次是非银金融行业，日涨幅 为0.99%，净流入资金为15.88亿元。 公用事业行业资金流出榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600025 | 华能水电 | -1.51 | 0.20 | -5128.49 | | 600886 | 国投电力 | -1.56 | ...

所属板块来看，百元股中，主板有24只、创业板有19只、北交所有3只，另有36只来自科创板，占百元 股的比例为43.90%。（数据宝） 以最新收盘价计算，A股平均股价为11.55元，其中股价超过100元的有82只。 百元股作为判定市场热度的信号之一，历来受到投资者关注。证券时报·数据宝统计显示，截至6月4日 收盘，沪指报收3376.20点，上涨0.42%，A股平均股价为11.55元，个股股价分布看，股价超过100元的 有82只，股价在50元至100元的有297只，股价在30元至50元的有676只。 股价超百元个股中，收盘价最高的是贵州茅台，今日报收1509.96元，上涨0.06%，其次是寒武纪、锦波 生物等，最新收盘价分别为607.50元、520.00元。 市场表现方面，收盘股价超百元股中，今日平均上涨1.04%，跑赢沪指0.62个百分点。今日上涨的有54 只，涨幅居前的有浩欧博、惠城环保等，下跌的有27只，跌幅居前的有六九一二、恒玄科技等。 追溯发现，最新百元股近一个月平均上涨0.14%，其间沪指上涨2.96%，涨幅居前的有惠城环保、斯菱 股份、经纬恒润等，涨幅分别为30.63%、29.26%、29.02%， ...

沪指6月4日上涨0.42%，申万所属行业中，今日上涨的有28个，涨幅居前的行业为美容护理、综合，涨 幅分别为2.63%、2.53%。医药生物行业今日上涨0.55%。跌幅居前的行业为交通运输、国防军工、公用 事业，跌幅分别为0.58%、0.24%、0.12%。 医药生物行业资金流出榜 医药生物行业今日上涨0.55%，全天主力资金净流出14.77亿元，该行业所属的个股共475只，今日上涨 的有267只，涨停的有6只；下跌的有184只。以资金流向数据进行统计，该行业资金净流入的个股有193 只，其中，净流入资金超5000万元的有6只，净流入资金居首的是乐普医疗，今日净流入资金3.91亿 元，紧随其后的是恒瑞医药、通化金马，净流入资金分别为1.45亿元、1.21亿元。医药生物行业资金净 流出个股中，资金净流出超亿元的有6只，净流出资金居前的有千红制药、海南海药、冠昊生物，净流 出资金分别为4.54亿元、1.85亿元、1.61亿元。（数据宝） | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 002550 | ...

Investment Rating - The report maintains a "Buy" rating for the company [2][5] Core Views - The company is experiencing stable revenue growth, with a profit turning point already evident [1] - Revenue forecasts for 2025-2027 have been adjusted downwards, while net profit estimates have been revised upwards [2] - The target price is set at 19.74 CNY, based on a PE valuation of 21X for 2025 [2] Financial Performance Summary - For 2023, the company achieved a revenue of 24,531 million CNY, with a year-on-year growth of 15.5% [4] - The projected revenues for 2024, 2025, 2026, and 2027 are 26,497 million CNY, 29,649 million CNY, 33,012 million CNY, and 36,383 million CNY respectively, with growth rates of 8.0%, 11.9%, 11.3%, and 10.2% [4] - The company's net profit attributable to the parent company for 2023 was 1,166 million CNY, with a projected increase to 1,073 million CNY in 2025 [4] - The gross margin is expected to stabilize around 35% in the coming years, with a slight decrease in 2024 [4] Business Expansion and Strategy - The company continues to expand its retail business, with a significant increase in the number of stores, including 907 new self-built stores and 420 acquired stores in 2024 [9] - The retail business generated 219.2 billion CNY in 2024, accounting for 82.7% of total revenue, with a gross margin of 36.6% [9] - The company is actively developing its new retail business, achieving an 80.4% coverage rate for O2O delivery services by the end of 2024 [9]

Investment Rating - The report maintains a "Buy" rating for the company [2][5] Core Views - The company is experiencing stable revenue growth, with a profit turning point already evident [1] - Revenue forecasts for 2025-2027 have been adjusted downwards, while sales expense ratios have been increased, predicting net profits of 1.073 billion, 1.247 billion, and 1.395 billion yuan respectively for those years [2] Financial Performance Summary - **Revenue**: - 2023A: 24.531 billion yuan, 2024A: 26.497 billion yuan (YoY +8.0%), 2025E: 29.649 billion yuan (YoY +11.9%) [4] - **Net Profit**: - 2023A: 1.166 billion yuan, 2024A: 915 million yuan (YoY -21.6%), 2025E: 1.073 billion yuan (YoY +17.3%) [4] - **Earnings Per Share**: - 2023A: 1.02 yuan, 2024A: 0.80 yuan, 2025E: 0.94 yuan [4] - **Gross Margin**: - 2023A: 35.9%, 2024A: 34.3%, 2025E: 35.0% [4] - **Net Margin**: - 2023A: 4.8%, 2024A: 3.5%, 2025E: 3.6% [4] - **Return on Equity**: - 2023A: 17.9%, 2024A: 13.3%, 2025E: 14.3% [4] Business Expansion and Strategy - The company opened 907 new self-built stores and acquired 420 stores in 2024, with a total of 16,553 stores by the end of the year [9] - Retail business revenue reached 219.2 billion yuan in 2024, driven by the expansion of direct-operated stores and new openings [9] - The company is actively developing new retail business, achieving an 80.4% coverage rate for O2O delivery services by the end of 2024 [9]

| 纺织服饰 | 65.29 | -0.31 | -0.47 | | --- | --- | --- | --- | | 轻工制造 | 122.71 | -0.32 | -0.26 | | 美容护理 | 56.30 | -0.67 | -1.17 | | 商贸零售 | 209.95 | -0.72 | -0.34 | | 农林牧渔 | 251.04 | -2.30 | -0.91 | | 电子 | 2086.68 | -2.58 | -0.12 | | 银行 | 528.12 | -2.62 | -0.49 | 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） 截至6月3日，市场最新融资余额为17926.88亿元，较上个交易日环比增加34.52亿元，分行业统计，申万 所属一级行业有22个行业融资余额增加，计算机行业融资余额增加最多，较上一日增加6.74亿元；融资 余额增加居前的行业还有医药生物、家用电器、公用事业等，融资余额分别增加6.48亿元、5.85亿元、 5.03亿元；融资余额减少的行业有9个，银行、电子、农林牧渔等行业融资余额减少较多，分别减少2.62 亿元、2. ...

近5日机构合计调研302家公司，肇民科技、中微公司、华测检测等被多家机构扎堆调研。 证券时报·数据宝统计，近5个交易日（5月27日至6月3日）两市约302家公司被机构调研，调研机构类型 显示，证券公司共对272家公司进行调研，即90.07%的上市公司调研活动有证券公司参与；基金公司调 研232家，位列其后；阳光私募机构调研119家，排名第三。 机构调研榜单中，共有69家公司获20家以上机构扎堆调研。肇民科技最受关注，参与调研的机构达到 281家；中微公司被212家机构调研，榜单中排名第二；华测检测、拓荆科技等分别被187家、179家机构 调研。 机构调研次数来看，三友联众机构调研最为密集，共获机构4次调研。能辉科技、周大生等机构调研也 较为密集，均被机构调研3次。 数据宝统计，20家以上机构扎堆调研股中，近5日资金净流入的有24只，中科金财近5日净流入资金4.04 亿元，主力资金净流入最多；净流入资金较多的还有海大集团、北特科技等，净流入资金分别为2.46亿 元、1.27亿元。 市场表现上，机构扎堆调研股中，近5日上涨的有27只，涨幅居前的有华纳药厂、科兴制药、益方生物 等，涨幅为64.66%、53.29%、 ...