Group 1 - The report tracks stocks, industries, and sectors that are reaching new highs, serving as market indicators and highlighting the effectiveness of momentum and trend-following strategies [1][4] - As of July 18, 2025, the distance to the 250-day new high for major indices is as follows: Shanghai Composite Index 0.00%, Shenzhen Component Index 5.06%, CSI 300 4.64%, CSI 500 3.65%, CSI 1000 0.91%, CSI 2000 0.00%, ChiNext Index 10.71%, and STAR 50 Index 10.59% [5][21] - Among the first-tier industry indices, non-ferrous metals, steel, basic chemicals, communications, and defense industries are closest to their 250-day new highs, while coal, food and beverage, real estate, consumer services, and transportation industries are further away [8][21] Group 2 - A total of 1,001 stocks reached a 250-day new high in the past 20 trading days, with the highest number of new highs in the pharmaceutical, basic chemicals, and machinery industries, totaling 129, 122, and 114 stocks respectively [2][13] - The highest proportion of new high stocks is found in the banking, comprehensive finance, and steel industries, with respective proportions of 88.10%, 40.00%, and 33.96% [13][15] - By sector distribution, the manufacturing and cyclical sectors had the most new high stocks, with 289 and 245 stocks respectively, representing 18.65% and 21.88% of their respective sector stock counts [15][22] Group 3 - The report identifies 46 stable new high stocks, including Shenghong Technology, Borui Pharmaceutical, and Shijia Photon, with the most new high stocks in the manufacturing and technology sectors, totaling 14 and 13 stocks respectively [3][19][22] - The manufacturing sector's highest number of new highs is in the machinery industry, while the technology sector's highest is in the computer industry [19][22] - The selection criteria for stable new high stocks include analyst attention, relative strength of stock prices, price path stability, and continuity of new highs [18][22]

Core Viewpoint - Shenzhen Beixin Life Technology Co., Ltd. has successfully passed the IPO review on the Sci-Tech Innovation Board, marking it as the second company to do so after the resumption of the fifth listing standard [1][2]. Group 1: IPO Details - Beixin Life aims to raise 9.52 billion yuan for projects including the construction of an interventional medical device industrialization base, R&D projects, and to supplement working capital [4][5]. - The company has a history of continuous financing since its establishment in 2015, with multiple rounds of equity transfers and capital increases [7]. - The company has been in a state of continuous losses, with cumulative undistributed profits amounting to -735.86 million yuan as of December 31, 2024 [11][15]. Group 2: Financial Performance - Revenue has shown rapid growth, with figures of 92.45 million yuan, 183.98 million yuan, and 316.60 million yuan over the reporting periods [14]. - The company has incurred net losses of -300.44 million yuan, -155.21 million yuan, and -53.74 million yuan in the same periods, with a decreasing trend in loss amounts [14][16]. - The gross profit margin has remained relatively stable at 63.50%, 65.02%, and 63.32%, although it is slightly lower than the industry average [18]. Group 3: Product and Market Position - Beixin Life specializes in innovative medical devices for precise diagnosis and treatment of cardiovascular diseases, with core products including the IVUS diagnostic system and FFR measurement system [12][13]. - The company has launched 11 products to the market and has 6 products under development, covering various categories [13]. - The core products have gained regulatory approval, with the FFR system launched in 2020 and the IVUS system in 2022, contributing significantly to revenue [13]. Group 4: Challenges and Risks - The company faces high operational costs, with sales expense ratios significantly above industry averages, indicating potential inefficiencies [20]. - There has been a notable decline in R&D personnel, with a reduction of nearly 30% from 151 to 109 employees, which may impact innovation and product development [24][26]. - The company has experienced high share-based payment expenses due to multiple employee stock incentive plans, contributing to its cumulative losses [22][23].

以下文章来源于老魏一凡 ，作者老魏一凡 老魏一凡 . 渤海商品套利研究院长，先后在恒力化工学院，LG化学集团等企业工作，20年年以上化工品现货贸易、期现套保与对冲经验，建立了估值+驱动力完整商品 投研体系，有丰富的研究员培训经验，为20多家企业建立投系数据库投研体系。 文 | 老魏一凡 来源 | 老魏一凡 编辑 | 杨兰 审核 | 浦电路交易员 什么是系统性思维？它要有广度，逻辑完整+闭环。 什么又是目标思维？它要有深度，要聚焦。 举个例子： "减掉20磅是目标思维，正确得饮食习惯与作息规律则是系统思维，以目标为导向的人，充其量，处于成功前的连续失败状态。"（查理芒 格）。 所以，减肥是比较难的，而且容易反复。 饿一周掉10斤，再后面，吃几顿烧烤，体重又回去了。 如果是改变了饮食习惯，那就是系统性思维了，而且体重控制好后，不容易反弹。 我们聊的是一种思维，也是认识。 说白了，就是考虑问题，即要全盘考虑+也要兼顾主要矛盾，两者都很重要。 就怕，想的不周全，只看到了一个点。 而且，这个点还不是 主要矛盾，那就麻烦了。 咱们再回到商品上，回到期货的逻辑，也是要系统性思维看商品。 商品的系统性思维是宏观大逻辑！ 一、 ...

谢少锋表示，工业和信息化部将加快实施"人工智能+"行动，推动大模型在制造业重点行业落地部署，提升智能化水平。数据显示，规模以上工业增加值 一季度和二季度同比分别增长6.5%和6.3%，在去年同期较高基数的基础上实现进一步增长。电气机械、汽车、电子、通用设备、化工、有色金属等重点 行业支撑作用明显，对规模以上工业增长的贡献率进一步提升。装备制造业、高技术制造业增加值占规模以上工业增加值的比重达35.5%和16.4%，电 子、电气机械、通用设备等行业利润增长超过10%。 据悉，上一轮钢铁行业稳增长方案是工信部于2023年8月21日发布。工业和信息化部联合国家发展改革委、财政部、自然资源部、生态环境部、商务部、 海关总署等七部门联合印发《钢铁行业稳增长工作方案》，提出2023—2024年，钢铁行业稳增长的主要目标是：2023年，钢铁行业供需保持动态平衡，全 行业固定资产投资保持稳定增长，经济效益显著提升，行业研发投入力争达到1.5%，工业增加值增长3.5%左右；2024年，行业发展环境、产业结构进一 步优化，高端化、智能化、绿色化水平不断提升，工业增加值增长4%以上。 工业和信息化部相关负责人在国务院新闻办公室举行 ...

Quantitative Models and Construction Methods 1. Model Name: 250-Day New High Distance - **Model Construction Idea**: This model tracks the distance of a stock or index from its 250-day high to identify market trends and hotspots. It is based on the premise that stocks nearing their 52-week high tend to outperform, as supported by prior research (e.g., George@2004, William O'Neil's CANSLIM system, and Mark Minervini's "Stock Market Wizard").[11][18][21] - **Model Construction Process**: The 250-day new high distance is calculated as follows: $ 250 \text{ Day New High Distance} = 1 - \frac{\text{Close}_{t}}{\text{ts\_max(Close, 250)}} $ - $\text{Close}_{t}$: Latest closing price - $\text{ts\_max(Close, 250)}$: Maximum closing price over the past 250 trading days If the latest closing price reaches a new high, the distance is 0. If the price has fallen from the high, the distance is positive, indicating the percentage drop.[11] - **Model Evaluation**: This model effectively identifies market leaders and trends, aligning with momentum and trend-following strategies.[11][18] 2. Model Name: Stable New High Stock Screening - **Model Construction Idea**: This model focuses on identifying stocks with stable momentum characteristics, emphasizing smooth price paths and consistent new highs. Research suggests that smoother momentum stocks outperform those with jumpy price paths (e.g., Bali et al., 2011; Da et al., 2012).[25][27] - **Model Construction Process**: Stocks are screened from the pool of those hitting 250-day highs in the past 20 trading days based on the following criteria: - **Analyst Attention**: At least 5 "Buy" or "Overweight" ratings in the past 3 months - **Relative Strength**: Top 20% in 250-day price performance - **Price Stability**: Evaluated using two metrics: - **Price Path Smoothness**: Ratio of price displacement to price path length - **New High Consistency**: Average 250-day new high distance over the past 120 days - **Trend Continuation**: Average 250-day new high distance over the past 5 days Stocks meeting these criteria are ranked, and the top 50% are selected.[25][27] - **Model Evaluation**: This model captures stocks with strong and stable momentum, leveraging underreaction to smooth price paths for enhanced returns.[25][27] --- Model Backtesting Results 1. 250-Day New High Distance - **Indices**: - Shanghai Composite: 0.00% - Shenzhen Component: 5.06% - CSI 300: 4.64% - CSI 500: 3.65% - CSI 1000: 0.91% - CSI 2000: 0.00% - ChiNext Index: 10.71% - STAR 50 Index: 10.59%[12][13][15] 2. Stable New High Stock Screening - **Selected Stocks**: 46 stocks, including Shenghong Technology, Borui Pharmaceutical, and Shijia Photon[28][33] - **Sector Distribution**: - Manufacturing: 14 stocks (e.g., machinery) - Technology: 13 stocks (e.g., computers)[28][33] --- Quantitative Factors and Construction Methods 1. Factor Name: 250-Day New High Distance - **Factor Construction Idea**: Measures the relative position of a stock's price to its 250-day high, serving as a momentum indicator.[11] - **Factor Construction Process**: $ 250 \text{ Day New High Distance} = 1 - \frac{\text{Close}_{t}}{\text{ts\_max(Close, 250)}} $ - $\text{Close}_{t}$: Latest closing price - $\text{ts\_max(Close, 250)}$: Maximum closing price over the past 250 trading days[11] - **Factor Evaluation**: Effectively identifies momentum leaders and market trends.[11][18] 2. Factor Name: Price Path Smoothness - **Factor Construction Idea**: Quantifies the smoothness of a stock's price trajectory, with smoother paths indicating stronger momentum.[25][27] - **Factor Construction Process**: $ \text{Price Path Smoothness} = \frac{\text{Price Displacement}}{\text{Price Path Length}} $ - **Price Displacement**: Net change in price over a period - **Price Path Length**: Sum of absolute daily price changes over the same period[27] - **Factor Evaluation**: Highlights stocks with stable momentum, leveraging underreaction to smooth price paths.[25][27] 3. Factor Name: New High Consistency - **Factor Construction Idea**: Measures the average proximity to 250-day highs over a specified period, indicating sustained momentum.[27] - **Factor Construction Process**: $ \text{New High Consistency} = \text{Mean(250 Day New High Distance over 120 Days)} $[27] - **Factor Evaluation**: Captures stocks with consistent momentum, emphasizing sustainability.[27] 4. Factor Name: Trend Continuation - **Factor Construction Idea**: Measures short-term proximity to 250-day highs, indicating recent momentum strength.[27] - **Factor Construction Process**: $ \text{Trend Continuation} = \text{Mean(250 Day New High Distance over 5 Days)} $[27] - **Factor Evaluation**: Identifies stocks with strong short-term momentum, complementing longer-term factors.[27] --- Factor Backtesting Results 1. 250-Day New High Distance - **Indices**: - Shanghai Composite: 0.00% - Shenzhen Component: 5.06% - CSI 300: 4.64% - CSI 500: 3.65% - CSI 1000: 0.91% - CSI 2000: 0.00% - ChiNext Index: 10.71% - STAR 50 Index: 10.59%[12][13][15] 2. Price Path Smoothness - **Selected Stocks**: 46 stocks, including Shenghong Technology, Borui Pharmaceutical, and Shijia Photon[28][33] 3. New High Consistency - **Selected Stocks**: 46 stocks, with top sectors being manufacturing (14 stocks) and technology (13 stocks)[28][33] 4. Trend Continuation - **Selected Stocks**: 46 stocks, with top sectors being manufacturing (14 stocks) and technology (13 stocks)[28][33]

沪指7月18日上涨0.50%，申万所属行业中，今日上涨的有22个，涨幅居前的行业为有色金属、基础化 工，涨幅分别为2.10%、1.36%。跌幅居前的行业为传媒、电子，跌幅分别为0.98%、0.49%。传媒行业 位居今日跌幅榜首位。 资金面上看，两市主力资金全天净流出229.87亿元，今日有10个行业主力资金净流入，有色金属行业主 力资金净流入规模居首，该行业今日上涨2.10%，全天净流入资金37.94亿元，其次是非银金融行业，日 涨幅为0.33%，净流入资金为8.97亿元。 传媒行业今日下跌0.98%，全天主力资金净流出22.91亿元，该行业所属的个股共130只，今日上涨的有 51只，涨停的有1只；下跌的有75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44只，其中，净流入资金超3000万元的有5只，净流入资金居首的是世纪天鸿，今日净流入资金 3.10亿元，紧随其后的是易点天下、奥飞娱乐，净流入资金分别为6277.38万元、4956.16万元。传媒行 业资金净流出个股中，资金净流出超亿元的有8只，净流出资金居前的有ST华通、巨人网络、中文在 线，净流出资金分别为4.75亿元、3.30亿 ...

科创板第五套标准重启后，第二家IPO过会。 7月18日，上交所上市委审议深圳北芯生命科技股份有限公司(简称"北芯生命")科创板IPO申请。这也是重启科创板第五套上市标准后，第二家按此标准上会 的拟IPO企业。最终北芯生命顺利过会。 北芯生命是一家专注于心血管疾病精准诊疗创新医疗（002173）器械研发、生产和销售的国家高新技术企业，致力于开发为心血管疾病诊疗带来变革的精准 解决方案。公司核心产品血管内超声(IVUS)诊断系统为中国首个获国家药监局批准的自主创新60MHz高清高速国产IVUS产品，核心产品血流储备分数(FFR) 测量系统为金标准FFR领域内中国首个获国家药监局批准的国产产品，上述两款产品均进入了国家创新医疗器械特别审查程序，有望为精准指导经皮冠状动 脉介入治疗(PCI)手术临床实践带来变革。 业绩方面，2022年至2024年，公司分别实现营业收入9245.19万元、1.84亿元和3.17亿元，扣非净利润分别为-1.79亿元、-1.64亿元和-6294万元。 本次IPO，北芯生命拟募资9.52亿元，投入到介入类医疗器械产业化基地建设项目、介入类医疗器械研发项目、补充流动资金，以扩大公司产能规模，丰 ...

Core Viewpoint - Shenzhen Youyou Green Energy Co., Ltd. is convening its first extraordinary general meeting of shareholders in 2025 to discuss two key proposals regarding changes in fundraising project implementation methods and the use of excess funds for the construction of a smart manufacturing base for electric vehicle charging and discharging equipment [1][2]. Meeting Details - The extraordinary general meeting will be held on July 30, 2025, at 14:30, with network voting available on the same day [2][3]. - Shareholders can participate in the meeting either in person or through authorized representatives, and network voting will be facilitated through the Shenzhen Stock Exchange systems [3][4]. Proposals for Discussion - The meeting will address the following proposals: 1. Change in the implementation method and location of certain fundraising projects. 2. Use of excess funds for the preliminary construction of a smart manufacturing base for electric vehicle charging and discharging equipment [1][8]. - The company plans to adjust the investment estimates for the "Headquarters and R&D Center Construction Project" and the "Charging Module Production Base Construction Project" to reflect the new construction method and location [8]. Governance Changes - The company will no longer have a supervisory board; its functions will be transferred to the audit committee of the board of directors [6][7]. - The first supervisory board's term has ended, and the company will nominate three candidates for the second board of directors, which will include both non-independent and independent directors [6][7]. Financial Adjustments - The company intends to utilize excess funds for the preliminary construction of the smart manufacturing base, which includes land acquisition, design, budgeting, and initial construction costs [8].

主力资金净流出的行业有21个，电子行业主力资金净流出规模居首，全天净流出资金83.41亿元，其次 是计算机行业，净流出资金为43.75亿元，净流出资金较多的还有通信、机械设备、汽车等行业。 有色金属行业资金流出榜 有色金属行业今日上涨2.10%，全天主力资金净流入37.94亿元，该行业所属的个股共137只，今日上涨 的有107只，涨停的有5只；下跌的有25只。以资金流向数据进行统计，该行业资金净流入的个股有70 只，其中，净流入资金超亿元的有7只，净流入资金居首的是北方稀土，今日净流入资金21.09亿元，紧 随其后的是东方锆业、盛新锂能，净流入资金分别为4.34亿元、3.27亿元。有色金属行业资金净流出个 股中，资金净流出超5000万元的有9只，净流出资金居前的有明泰铝业、海星股份、中矿资源，净流出 资金分别为1.15亿元、8719.54万元、8452.11万元。 有色金属行业资金流入榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600111 | 北方稀土 | 9.87 | 12.69 | ...

股东方面，截至2025年3月31日，赛诺医疗股东户数11044户，较上次增加381户，户均持股市值35.28万 元，户均持股数量2.76万股。 赛诺医疗科学技术股份有限公司的主营业务是高端介入医疗器械研发、生产、销售。公司的主要产品是 生物降解药物涂层冠脉支架系统、药物洗脱支架系统、非顺应性PTCA球囊扩张导管、PTCA球囊扩张 导管、非顺应性球囊扩张导管、冠脉球囊扩张导管、冠状动脉棘突球囊扩张导管、延长导管、颅内药物 洗脱支架系统、颅内取栓支架、颅内球囊扩张导管、负压吸引泵、一次性使用无菌吸引延长管、远端通 路导管、颅内血栓抽吸导管、微导管、远端通路导引导管、导引导管、桡动脉通路导引系统、输送导 管、球囊导引导管。 最新一期业绩显示，2025年一季报，公司实现营业收入1.01亿元，同比10.75%；净利润296.93万元，同 比277.50%，销售毛利率59.66%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)13赛诺医疗821.263366.625.7950.43亿行业平均 52.3447.744.60110.17亿行业中值36.9936.882.5451.28亿1九安医疗11.0211.15 ...