华安证券：中期向好趋势不改 华安证券认为，展望后市，短期扰动不改市场中期向好趋势，后续可关注中报业绩兑现情况以及政策落地方向节奏。配置 方面，建议投资者关注三条主线：一是成长科技强者恒强，包括AI、机器人、军工。二是景气支撑或业绩超预期领域，如稀土 永磁、贵金属、工程机械、摩托车、农化制品等。三是重要会议结构性政策超预期的服务消费，以及地产政策宽松带来估值修 复机会。 中原证券：建议关注成长与价值轮动带来的机会 液冷服务器概念股午后再度拉升，华光新材、飞龙股份午后双双涨停，英维克此前涨停，强瑞技术、依米康涨超10%，中 石科技、申菱环境、日海智能、淳中科技等涨超5%。 机构观点 光大证券：市场大概率延续热点轮动的风格 光大证券认为，展望后市，指数连续上涨之后，资金再次出现分歧，接下来指数或将震荡休整，市场大概率延续热点轮动 的风格。方向：人形机器人概念。近期，人形机器人相关的催化剂不断，2025世界机器人博览会将于8月8日至12日在北京举 行，或将再次刺激相关概念。 金融界8月8日消息A股三大指数全天弱势震荡，创业板指午后一度翻红，截至收盘，沪指跌0.12%，报3635.13点，深成指 跌0.26%，报111 ...

Market Overview - The three major A-share indices collectively closed lower, with the Shanghai Composite Index down 0.12%, the Shenzhen Component Index down 0.26%, and the ChiNext Index down 0.38% [1] - The North China 50 Index fell by 1.22%, and the total trading volume in the Shanghai and Shenzhen markets was 173.63 billion yuan, a decrease of 116.2 billion yuan compared to the previous day [1] Sector Performance - Over 2400 stocks in the two markets experienced gains [1] - The engineering machinery, wind power equipment, and rail transit equipment sectors showed strength, while the ERP concept and Huawei Euler sectors faced adjustments [1] Notable Stocks - In the engineering machinery sector, Iron Tuo Machinery and Wuxin Tunnel Equipment both rose over 10%, while Shanhe Intelligent reached the daily limit [1] - The wind power equipment sector saw Feiwo Technology hit the daily limit with a 20% increase [1] - The rail transit equipment sector strengthened in the afternoon, with Jiaoda Iron and Steel rising over 20%, Jin Ying Heavy Industry hitting the daily limit, and Xianghe Industrial also reaching the daily limit [1] - The ERP concept experienced low-level fluctuations, with Dingjie Smart falling over 13% [1] - The Huawei Euler sector weakened, with Saiyi Information and Danghong Technology both dropping over 9% [1]

Market Overview - The A-share market experienced slight fluctuations with minor gains in the morning session, with the Shanghai Composite Index up by 0.07% to 3642.10 points, the Shenzhen Component Index up by 0.14% to 11173.87 points, and the ChiNext Index up by 0.21% to 2347.83 points [1] Sector Performance Top Gaining Sectors - The engineering machinery sector led the gains with an increase of 3.13%, achieving a total trading volume of 1,133.99 million hands and a total transaction value of 170.62 billion [2] - The wind power equipment sector followed with a rise of 2.71%, with a trading volume of 659.39 million hands and a transaction value of 89.64 billion [2] - The rail transit equipment sector saw an increase of 1.58%, with a trading volume of 257.26 million hands and a transaction value of 26.61 billion [2] Top Declining Sectors - The software development sector experienced the largest decline at -2.23%, with a trading volume of 1,902.91 million hands and a transaction value of 412.41 billion [2] - The IT services sector fell by 1.65%, with a trading volume of 2,692.79 million hands and a transaction value of 411.94 billion [2] - The semiconductor sector decreased by 1.62%, with a trading volume of 1,265.75 million hands and a transaction value of 586.80 billion [2]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 603680 | 今创集团 | 13.12 | 2.18% | 10.41万 | | 1.37亿 | | 600495 | 晋西车轴 | 5.23 | 2.15% | 59.12万 | | 2660°E | | 688459 | 哈铁科技 | 10.06 | 1.72% | 5.15万 | | 5155.01万 | | 605001 | 威奧股份 | 8.03 | 1.52% | 9.40万 | | 7477.33万 | | 688187 | 时代电气 | 44.93 | 1.38% | 3.61万 | | 1.62亿 | | 300351 | 永慧电器 | 16.66 | 1.34% | 12.67万 | | 2.12亿 | | 605298 | 必得科技 | 17.43 | 1.28% | 11.41万 | | 1.98亿 | | 000925 | 众合科技 | 8.03 | 1.26% | 16.92万 | | 1.35亿 | ...

证券之星消息，8月5日轨交设备板块较上一交易日上涨1.22%，通业科技领涨。当日上证指数报收于 3617.6，上涨0.96%。深证成指报收于11106.96，上涨0.59%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300960 | 通业科技 | 33.92 | 19.99% | 10.07万 | | 3.18亿 | | 002972 | 科安达 | 13.00 | 2.93% | 9.22万 | | 1.19亿 | | 600458 | 时代新材 | 13.38 | 2.92% | ● 13.72万 | | 1.82亿 | | 605001 | 威奧股份 | 7.91 | 2.86% | 6 9.49万 | 7433.15万 | | | 301016 | 雷尔伟 | 17.69 | 2.73% | 5.96万 | | 1.05亿 | | 605298 | 必得科技 | 17.21 | 2.44% | 15.73万 | | 2.73亿 | | ...

行 华福证券 轨交设备Ⅱ 2025 年 08 月 04 日 业 研 究 轨交设备Ⅱ 暑运过半，全国铁路发送旅客超 4.4 亿人次 投资要点： 客运服务提质，出行选择多元 行 业 定 期 报 告 2025 年 7 月 1 日至 31 日暑运过半，全国铁路累计发送旅客 4.41 亿人次，同比增长 4.3%，日均 1421.3 万人次。铁路部门通过增开临客、 灵活调整运力、储备应急资源提升客运能力，开行亲子游、红色游等 特色旅游列车及跨境列车，优化购票、换乘等站车服务，满足旅客多 样化需求。 物资运输保障，汛期安全可控 铁路部门保障重点物资运输，7 月发送电煤 1.2 亿吨，确保电厂存 煤充足，同时畅通粮食、抢险物资运输及国际联运。汛期落实防汛措 施，排查设备、应对极端天气，通过停运、限速等方式规避风险，及 时发布资讯并做好票务服务，保障运输安全。 营业里程持续增长，20 万公里目标创造广阔市场空间 2022 年国务院印发《"十四五"现代综合交通运输体系发展规划》， 明确提出到 2025 年，铁路营业里程达到 16.5 万公里，其中高速铁路营 业里程达到 5 万公里；2020 年国铁集团出台《新时代交通强国铁路先 ...

证券之星消息，8月4日轨交设备板块较上一交易日上涨0.47%，必得科技领涨。当日上证指数报收于 3583.31，上涨0.66%。深证成指报收于11041.56，上涨0.46%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 605298 | 必得科技 | 16.80 | 10.02% | 5.08万 | 8372.80万 | | 300960 | 通业科技 | 28.27 | 5.49% | 3.83万 | 1.07亿 | | 872541 | 铁大科技 | 17.17 | 3.43% | 4.23万 | 7224.59万 | | 603500 | 祥和实业 | 9.67 | 3.42% | 7.80万 | 7428.90万 | | 688367 | 工大高科 | 19.88 | 2.58% | 1.43万 | 2800.29万 | | 600495 | 晋西车轴 | 5.08 | 2.42% | 31.88万 | 1.60亿 | | 300923 | 研奧股份 | ...

Core Points - As of August 1, 2025, China Railway Signal & Communication Corp (China Tonghao) closed at 5.32 CNY, down 2.03% from the previous week [1] - The company's total market capitalization is 56.338 billion CNY, ranking 3rd in the rail transit equipment sector and 258th among A-shares [1] Company Announcements - The company held the 20th meeting of the 4th Supervisory Board, approving the use of up to 2.7 billion CNY of idle raised funds for cash management, with a maximum investment period of 12 months [2] - The total amount of raised funds is 10.53 billion CNY, with a net amount of approximately 10.354 billion CNY, all deposited in a special account for raised funds [2] H-Share Announcement - As of July 31, 2025, the company reported a total registered capital of 10.589 billion CNY, with H-shares and A-shares totaling 1.968 billion shares and 8.621 billion shares respectively, each with a par value of 1 CNY [3] - There are no treasury shares, and both H-shares and A-shares are fully issued [3]

Group 1 - The core viewpoint of the news is that Tianyi New Materials (688033) is facing significant financial challenges, with expected losses in the first half of 2025 and a substantial amount of frozen bank accounts impacting its operations [1][2][3] Group 2 - Tianyi New Materials reported an expected net loss of between 190 million to 240 million yuan for the first half of 2025, with a projected revenue of 400 million to 450 million yuan, indicating a reduction in losses compared to the previous year [1][3] - The company’s total market capitalization is currently 3.823 billion yuan, ranking 19th in the rail transit equipment sector and 3852nd in the overall A-share market [1] - The company has frozen bank accounts totaling 61.5341 million yuan, which represents 2.39% of the audited net assets as of the end of 2024 and 32.83% of the cash funds [2]

Core Viewpoint - China CRRC Corporation Limited (中国中车) has signed significant contracts totaling approximately 329.2 billion RMB, which is expected to contribute to its revenue growth in the coming years [1]. Group 1: Stock Performance - As of August 1, 2025, China CRRC's stock closed at 7.31 RMB, down 3.56% from the previous week's closing price of 7.58 RMB [1]. - The stock reached a weekly high of 7.6 RMB on July 28, 2025, and a low of 7.3 RMB on August 1, 2025 [1]. - The company's current total market capitalization is 209.79 billion RMB, ranking 1st in the rail transit equipment sector and 59th among all A-shares [1]. Group 2: Major Contracts - China CRRC has signed several major contracts from May to July 2025, with a total value of approximately 329.2 billion RMB [1]. - Key contracts include: - 143.4 billion RMB for urban rail vehicle sales and maintenance with clients such as São Paulo Metro and Shanghai Shentong Metro Construction Group [1]. - 69 billion RMB for locomotive repair contracts with China National Railway Group [1]. - 40.3 billion RMB for wind power and energy storage equipment sales with various energy companies [1]. - 30.2 billion RMB for the sale of power concentrated multiple units with China National Railway Group [1]. - 25.5 billion RMB for freight car sales with China National Railway Group [1]. - 20.8 billion RMB for passenger car repair contracts with various railway bureaus under China National Railway Group [1]. - The total amount of these contracts represents approximately 13.4% of the company's projected revenue for 2024 under Chinese accounting standards [1]. Group 3: Share Capital Information - As of July 31, 2025, the statutory registered capital of China CRRC's H-shares and A-shares is 4,371,066,040 shares and 24,327,798,048 shares, respectively, with a par value of 1 RMB per share [2]. - The total issued shares for H-shares and A-shares are the same as the registered capital, with no treasury shares [2]. - The total statutory registered capital amounts to 28.70 billion RMB [2].