Group 1 - On September 16, 24 out of 31 primary industries in the Shenwan index received net financing inflows, with the electronics industry leading at a net inflow of 4.526 billion [1] - Other industries with significant net financing inflows included machinery equipment, computers, non-bank financials, automobiles, chemicals, and telecommunications, each exceeding 800 million [1] Group 2 - A total of 1,975 individual stocks received net financing inflows on September 16, with 155 stocks having inflows exceeding 50 million [1] - Among these, 23 stocks had net inflows over 200 million, with Zhongke Shuguang leading at 1.506 billion [1] - Other notable stocks with high net financing inflows included Shenghong Technology, Cambridge Technology, Hanwujishi, Xiechuang Data, China Shipbuilding, Kweichow Moutai, Guiding Compass, and Sunshine Power [1]

Market Overview - As of September 16, the total market financing balance reached 2.38 trillion yuan, an increase of 22.51 billion yuan from the previous trading day, marking the eighth consecutive day of increase [1] - The financing balance for the Shanghai Stock Exchange was 1.21 trillion yuan, up by 12.20 billion yuan; for the Shenzhen Stock Exchange, it was 1.16 trillion yuan, up by 10.34 billion yuan; while the Beijing Stock Exchange saw a decrease of 2.88 million yuan to 78.44 billion yuan [1] Stock Performance - On September 16, 1,975 stocks received net financing purchases, with 677 stocks having net purchases exceeding 10 million yuan, and 63 stocks exceeding 100 million yuan [1] - The top net purchase was for Zhongke Shuguang, with a net buy of 1.51 billion yuan, followed by Shenghong Technology and Cambridge Technology with net buys of 743 million yuan and 555 million yuan, respectively [1] Industry Insights - The industries with the highest concentration of stocks receiving net purchases over 100 million yuan were electronics, machinery equipment, and computers, with 16, 10, and 7 stocks respectively [1] - Among the stocks with significant net purchases, the arithmetic average of the financing balance as a percentage of the circulating market value was 4.39% [2] Notable Stocks - The stock with the highest financing balance as a percentage of circulating market value was Dongtu Technology at 10.80%, followed by Guokewi at 9.90%, Cambridge Technology at 8.81%, and Demingli at 7.98% [2] - Specific stock performances on September 16 included: - Zhongke Shuguang: net buy of 150.64 million yuan, latest financing balance of 1.04 billion yuan, and a 6.40% market value ratio [3] - Shenghong Technology: net buy of 74.29 million yuan, latest financing balance of 1.64 billion yuan, and a 5.52% market value ratio [3] - Cambridge Technology: net buy of 55.49 million yuan, latest financing balance of 283.16 million yuan, and an 8.81% market value ratio [3]

| 序号 | 证券代码 | 证券名称 | 融资净买额 | 融资余额/流通 | 年内涨跌幅 | 申万往亚 | | --- | --- | --- | --- | --- | --- | --- | | | | | (1770) | 市值(%) | (%) | | | 9 | 300476.SZ | 胜宏科技 | 141.78 | 5.55 | 727.75 | 电子 | | 2 | 300502.SZ | 新易盛 | 126.12 | 4.90 | 320.50 | 通信 | | 3 | 688256.SH | 寒武纪 | 105.80 | 2.41 | 118.86 | 电子 | | 4 | 300308.SZ | 中标旭创 | 93.37 | 3.30 | 234.44 | 通信 | | 5 | 600111.SH | 北方稀土 | 55.65 | 4.62 | 136.67 | 自由会属 | | 6 | 300450.SZ | 先身智能 | 40.15 | 6.30 | 175.39 | 电力设备 | | 7 | 601138.SH | 工业富联 | 36.77 | 0.59 | 183.26 | 电子 ...

资料显示，天弘国证港股通科技指数基金跟踪指数聚焦30家最具代表性的科技龙头，涵盖互联网、电 子、通信、生物科技、智能汽车等高成长赛道。其成分股权重上限更高（15%）、集中度更优。 一是稀缺性。港股市场拥有众多A股市场无法覆盖的优质科技公司，尤其在创新药、互联网平台、智能 汽车等领域。 观点仅供参考，不构成投资意见，市场有风险，投资需谨慎，指数基金存在跟踪误差。 港股市场持续受资金追捧。天弘基金17日公告，天弘国证港股通科技指数基金（A类：024885，C类： 024886）成立，募集超25亿元，主销渠道及托管行为建设银行。 三是资金面支撑。南向资金持续大幅流入，年内累计净买入已近万亿港元。叠加美联储降息预期增强， 港股流动性环境有望进一步改善。 基金经理沙川表示，当前正处在由科技驱动的新经济起点，港股市场尤其是港股通标的中的科技龙头企 业，正是这一浪潮中最具代表性的投资阵地，具备三大优势： 机构人士指出，美联储9月降息几乎成定局，年底前仍有一定降息空间，港股市场有望持续受益。 二是估值优势。数据显示，国证港股通科技指数估值处于近五年30%分位左右，安全边际较高，向上空 间广阔。 ...

Group 1 - Tsela Optimus recently released a promotional video showcasing its humanoid robot, which features a significant amount of electronic skin technology [2] - Dongfang Electric (300217.SZ) announced on September 17 that its flexible fabric pressure sensing products are ready for mass production [2] - The company is in discussions with leading robotics firms for collaboration and has sent samples for evaluation [2]

Market Overview - The market has returned to previous highs, with the Hang Seng Index reaching a new high for the year, while the Hang Seng Tech Index has not yet surpassed its previous high [1] - Both Chinese and US markets are currently stable, awaiting significant trading events in the coming week [2] - The 10-year treasury yield at 1.8% has seen increased institutional buying, indicating ongoing liquidity pressure [1] Investment Strategy - The overall judgment of "stock market oscillation upward" continues, with a focus on marginal funds and pricing direction this week [1] - Three key investment directions are suggested: 1. Small-cap growth manufacturing sectors benefiting from easing policies (robotics, new energy, machinery) [1] 2. Cyclical sectors such as real estate and dividends [1] 3. Undervalued sectors like pharmaceuticals that continue to attract active funds [1] Hot Topics - Various ETFs are highlighted for different investment strategies, including: - High-tech ETFs focused on artificial intelligence and innovation [2] - Financial technology ETFs and brokerage ETFs as part of a bull market strategy [2] - ETFs related to food and internet sectors for recovery plays [2] - The market's structural expectations are anticipated to clarify during the upcoming trading week [2] Global Context - The upcoming Federal Reserve meeting and new rounds of negotiations between China and the US are key global focus points [2] - There is a notable contrast between global easing expectations and domestic liquidity conditions [2]

Group 1 - Tesla was ordered by a Beijing court to provide complete driving data from the 30 minutes prior to a traffic accident involving a customer, marking a significant legal victory for the customer after a prolonged dispute [2][3] - The customer, Zhang Yazhou, had previously faced legal challenges and had been ordered to pay damages to Tesla, but expressed relief at finally winning a case against the company [2][3] Group 2 - The fresh fish supply controversy at the restaurant chain "Tai Er" was highlighted, with customer service confirming that only one of their locations uses live fish, while others use pre-prepared fish fillets [3] - The company has also been reported to be closing multiple locations for upgrades, indicating potential operational changes [3] Group 3 - Starting September 16, the production of long-life pure milk in China is restricted to using only raw milk, prohibiting the addition of reconstituted milk [5] - This regulation aims to enhance the quality of dairy products available to consumers [5] Group 4 - Anta Sports reported that 46 employees, including one at the executive level, have been transferred to judicial authorities for suspected illegal activities, reflecting ongoing anti-corruption efforts within the company [5] - The company has dismissed 74 employees for serious misconduct and has identified 45 suppliers involved in fraudulent activities [5] Group 5 - Apple explained that recent updates to its iOS may cause temporary battery drain and heating issues due to background processes, marking the first time the company has proactively addressed these concerns [6] - The company reassured users that these performance fluctuations are normal and typically stabilize within a few days [6] Group 6 - The price of spot gold reached a historic high of $3,690 per ounce, with domestic gold jewelry prices also surging, indicating a strong demand for gold in the market [9] - Major jewelry brands reported significant price increases, with some products exceeding 1,090 yuan per gram [9] Group 7 - XPeng's eVTOL aircraft were involved in a collision during a demonstration at the Changchun Airshow, resulting in one injury, but the company confirmed that safety protocols were followed [9] - The incident is under investigation, highlighting the risks associated with new aviation technologies [9] Group 8 - Vanke announced that its largest shareholder, Shenzhen Metro Group, will provide an additional loan of up to 2.064 billion yuan, bringing the total loans from the group to approximately 25.941 billion yuan this year [9] - This financial support is aimed at repaying bonds and interest, indicating ongoing financial interdependencies within the real estate sector [9] Group 9 - HeSai Technology successfully listed on the Hong Kong Stock Exchange, raising 4.16 billion HKD, marking the largest IPO in the global lidar industry to date [13] - The company's stock rose nearly 10% on its first trading day, reflecting strong investor interest [13] Group 10 - Figure, a humanoid robotics company, announced a successful funding round exceeding $1 billion, with a post-money valuation of $39 billion, aimed at accelerating the deployment of humanoid robots [18] - Divergent Technologies also completed a $290 million funding round, achieving a valuation of $2.3 billion, focusing on expanding its production capabilities for defense clients [18]

来源：喜娜AI 人民日报：以"立破之道"建设好全国统一大市场 又见证历史！黄金盘中上破3690，明年冲击4000稳了？ 因市场预期美联储本周降息，黄金价格创新高，现货黄金盘中站上3690美元/盎司。分析师认为其涨势 将延续至年底，但明年突破4000美元前大概率回调。美联储宽松预期、地缘紧张、央行购金等因素推动 投资者涌入黄金市场，白银表现也亮眼。详情>> 金融市场犹如变幻莫测的海洋，时刻涌动着投资与经济政策的波澜，深刻影响着全球经济的走向。在 此，喜娜AI为您呈上昨夜今晨的财经热点新闻，全方位覆盖股市动态、经济数据、企业财务状况以及 政策更新等关键领域，助您精准洞察金融世界的风云变幻，把握市场脉搏。 超大规模市场是我国优势，建设全国统一大市场十分必要。中共中央政治局会议指出要纵深推进。上半 年我国经济增长内需贡献大，但仍存在低价无序竞争等问题。构建全国统一大市场要立"显规则"、 破"潜规则"，放宽市场准入；立"路牌"、破"路障"，完善基础设施；立"一盘棋"、破"自顾自"，破除地 方保护；立"大格局"、破"小循环"，扩大开放。详情>> 美国财长贝森特：美联储明日降息25个基点的预期已被消化 美国财政部长斯科特· ...

● 本报记者 胡雨 Wind数据显示，截至9月16日中国证券报记者发稿时，9月以来，逾1100家A股上市公司接待机构调研， 环比大幅增长。从股价表现看，过半上市公司9月以来取得正收益；从行业分布情况看，机械设备、电 子、基础化工等行业上市公司较受机构关注。 就后市投资而言，机械设备行业中的机器人领域获得机构和市场高度关注，灵巧手等细分方向投资机遇 值得重视；电子行业建议关注国产算力产业链，基础化工行业建议关注有机硅等供给弹性较大的板块。 调研热情进一步升温 作为机构9月调研标的中表现最强的一只，香农芯创股价近期迭创历史新高。9月16日，公司股价虽小幅 调整，但9月以来累计涨幅仍达到78.36%。从香农芯创披露的调研纪要看，作为一家以电子元器件产品 分销为主要收入来源的上市公司，公司代理及自产的相关产品会否跟随存储芯片提价而涨价等话题受到 机构重视。对此，公司回应称，分销产品价格随行就市，市场价格变化最终会体现在采购和销售价格 上，而自产的相关产品价格最终由市场竞争等因素决定。 包括香农芯创在内，Wind数据显示，截至9月16日记者发稿时，9月以来已有超过1100家A股上市公司接 待机构调研，环比大幅增长，显示 ...

丨证券研究报告丨 固收资产配置丨点评报告 [Table_Title] 化债额度提前下达，建筑转债怎么看？ ——可转债周报 20250913 报告要点 [Table_Summary] 当周（2025 年 9 月 8 日-2025 年 9 月 13 日）建筑转债仍处于估值中位、市价较高位的相对企 稳阶段，同时正股基本面有望随政策托底逐步修复，板块具备规模较大和估值相对较低的优势， 建筑转债或具备配置机会。权益市场方面，A 股震荡上行，中证 500 与科创风格相对占优，科 技成长与制造主线持续活跃，电子、电力设备成交集中，部分高拥挤方向估值偏高。转债市场 整体修复，小盘反弹强于大盘，估值结构有所分化，高平价券估值上行，隐含波动率小幅抬升， 风格轮动迹象显现。一级市场供给稳定，条款博弈频现，需持续关注事件驱动型机会。 分析师及联系人 [Table_Author] 赵增辉 熊锋 朱承志 SAC：S0490524080003 SAC：S0490524120004 SFC：BVN394 SFC：BWI629 请阅读最后评级说明和重要声明 %% %% 当周（2025 年 9 月 8 日-2025 年 9 月 13 日，下同） ...