昨日基金共对20家公司进行调研，扎堆调研灿勤科技、哈尔斯、格力博等。 5月26日基金调研公司一览 | 代码 | 简称 | 基金家数 | 最新收盘价（元） | 近5日涨跌幅（%） | 行业 | | --- | --- | --- | --- | --- | --- | | 688182 | 灿勤科技 | 13 | 28.20 | -2.05 | 通信 | | 301260 | 格力博 | 12 | 20.73 | -3.89 | 机械设备 | | 603970 | 中农立华 | 12 | 14.07 | 0.21 | 基础化工 | | 002615 | 哈尔斯 | 12 | 7.42 | -1.33 | 轻工制造 | | 002311 | 海大集团 | 11 | 59.91 | 5.09 | 农林牧渔 | | 688213 | 思特威 | 11 | 89.65 | -0.55 | 电子 | | 301070 | 开勒股份 | 6 | 73.06 | 21.62 | 机械设备 | | 688267 | 中触媒 | 6 | 26.63 | 5.76 | 基础化工 | | 601607 | 上海医药 | 6 | 18 ...

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Composite Index fell by 0.55% as of May 27, with mixed performance among constituent stocks [1] - Key gainers included KJ Intelligent with two consecutive trading limits, Sangfor Technologies up by 17.46%, and Junshi Biosciences up by 8.67% [1] - Major decliners included Weide Information down by 7.53%, Green Harmony down by 6.82%, and Guoguang Electric down by 5.26% [1] Group 2 - The Huaxia Sci-Tech Innovation Index ETF closely tracks the Shanghai Stock Exchange Sci-Tech Innovation Board Composite Index, focusing on hard technology sectors such as new generation information technology, high-end equipment, biomedicine, new energy, new materials, and energy conservation and environmental protection [2] - The Huaxia Sci-Tech Innovation Index ETF (589000) had a turnover of 1.85% during the trading session, with a transaction volume of 49.68 million yuan [1] - Over the past three months, the Huaxia Sci-Tech Innovation Index ETF has seen a significant growth of 1.156 billion yuan, ranking first among comparable funds [1] Group 3 - Institutional research trends indicate that electronics, machinery equipment, and biomedicine are the most frequently researched industries by brokerages since 2025 [1] - More than 30% of over 2,000 listed companies surveyed this year are concentrated in the electronics, machinery, and biomedicine sectors [1] - In May alone, over 90 companies were targeted for brokerage research, primarily in sub-sectors such as electronic components, integrated circuits, and semiconductor materials and equipment [1]

与之相对应的是，有76只QDII基金年内净值出现回调，其中华宝标普油气A人民币、富国标普石油天然气勘探及 生产精选行业ETF、博时标普石油天然气勘探及生产精选行业指数A、易方达原油A人民币等11只产品净值回调均 超过8%。 进一步来讲，净值增长较强的QDII基金基本重仓医药资产，而净值出现较明显回撤的产品多重仓商品资产。以汇 添富香港优势精选A为例，其一季度前十大重仓股包括荣昌生物、科伦博泰生物 - B、信达生物、和黄医药、康诺 亚 - B，这些个股属于医药板块。而华宝标普油气A人民币一季度前十大重仓股则为安特罗资源、赫斯 （HESS）、EQT能源（EQT）、埃克森美孚（EXXON MOBIL）和墨菲石油（MURPHY OIL）等能源板块个股。 在分析人士看来，医药板块因确定性相对较强，为相关基金产品净值上扬提供了有力支撑。而受国际商品基本面 扰动影响，油气类主题基金净值出现回撤。（南木） 【环球网财经综合报道】近日，QDII（合格境内机构投资者）基金年内净值表现呈现显著分化态势。Wind数据显 示，截至5月26日，全市场310只QDII基金中，有234只产品年内净值增长，占比75.5%。其中，有45只产品年 ...

Core Viewpoint - The latest financing balance of the ChiNext market is 339.346 billion yuan, with a week-on-week increase of 0.383 billion yuan, indicating a mixed performance among individual stocks in terms of financing balance changes [1][2]. Financing Balance Overview - As of May 26, the total margin balance of ChiNext stocks reached 340.278 billion yuan, an increase of 0.347 billion yuan from the previous trading day, with a financing balance of 339.346 billion yuan and a securities lending balance of 93.2 million yuan [1]. - A total of 447 stocks saw an increase in financing balance, with 26 stocks experiencing a growth of over 10% [1][3]. Notable Stocks with Increased Financing Balance - The stock with the highest increase in financing balance is Honggong Technology, which saw a financing balance of 63.481 million yuan, reflecting a week-on-week increase of 57.83% and a price increase of 2.51% [1][3]. - Other notable stocks with significant increases include Duorui Pharmaceutical and Demais, with increases of 47.30% and 39.00%, respectively [1][3]. Market Performance of Stocks with Increased Financing - Among the stocks with a financing balance increase of over 10%, the average price increase on that day was 0.88%, with 15 stocks rising [1][2]. - The top gainers included Xinbang Intelligent, Biaobang Co., and Chongde Technology, with increases of 16.16%, 8.95%, and 7.29%, respectively [1][2]. Stocks with Decreased Financing Balance - A total of 485 stocks experienced a decrease in financing balance, with 42 stocks showing a decline of over 5% [4]. - The stock with the largest decrease was Fusa Technology, with a financing balance of 47.5304 million yuan, reflecting a decline of 15.26% [4][5]. Notable Stocks with Decreased Financing Balance - Other significant decliners included Qide New Materials and Qushui Technology, with decreases of 14.99% and 13.09%, respectively [4][5]. - The overall trend indicates a mixed performance in the ChiNext market, with both increases and decreases in financing balances across various sectors [1][4].

5月26日沪指下跌0.05%，市场两融余额为18058.58亿元，较前一交易日增加45.23亿元。 证券时报·数据宝统计显示，截至5月26日，沪市两融余额9162.17亿元，较前一交易日增加23.80亿元； 深市两融余额8841.84亿元，较前一交易日增加21.36亿元；北交所两融余额54.57亿元，较前一交易日增 加771.04万元；深沪北两融余额合计18058.58亿元，较前一交易日增加45.23亿元。 分行业看，申万所属行业中，融资余额增加的行业有19个，增加金额最多的行业是汽车，融资余额增加 14.75亿元；其次是医药生物、电力设备行业，融资余额分别增加12.32亿元、5.22亿元。 具体到个股来看，融资余额出现增长的股票有1828只，占比49.77%，其中，269股融资余额增幅超过5% 。融资余额增幅最大的是新安洁，该股最新融资余额345.62万元，较前一交易日增幅达58.10%；股价表 现上，该股当日上涨2.53%，表现强于沪指；融资余额增幅较多的还有宏工科技、宏裕包材，融资余额 增幅分别为57.83%、55.68%。 | 代码 | 简称 | 最新融资余额（万 | 较前一个交易日增减 | 当日涨跌 ...

Report Summary 1. Report Type - Index Daily Review [1] 2. Date - May 27, 2025 [2] 3. Researchers - Nie Jiayi (Index Futures), contact: 021 - 60635735, niejiayi@ccb.ccbfutures.com, Futures Practitioner Qualification Number: F03124070 [3] - He Zhuoqiao (Macroeconomics and Precious Metals), contact: 18665641296, hezhuoqiao@ccb.ccbfutures.com, Futures Practitioner Qualification Number: F3008762 [3] - Huang Wenxin (Macroeconomics, Treasury Bonds, and Container Shipping), contact: 021 - 60635739, huangwenxin@ccb.ccbfutures.com, Futures Practitioner Qualification Number: F3051589 [3] 4. Market Review and Outlook 4.1 Market Review - On May 26, the Wind All - A Index rose with shrinking volume. It opened higher, then oscillated downward, rebounded in the afternoon, and closed up 0.14%, with over 70% of stocks rising. Among index spot, CSI 300 and SSE 50 opened slightly higher, then oscillated downward, and closed down 0.57% and 0.46% respectively. CSI 500 and CSI 1000 also opened slightly higher, oscillated downward, and then rebounded, closing up 0.29% and 0.65% respectively, indicating better performance of small - and medium - cap stocks. In index futures, futures generally outperformed spot. The main contracts of IF and IH closed down 0.39% and 0.32% respectively, while the main contracts of IC and IM closed up 0.59% and 0.90% respectively (based on the previous trading day's closing price). In terms of sectors, Media, Computer, and Environmental Protection led the gains, rising 2.14%, 1.39%, and 1.22% respectively. Comprehensive, Pharmaceutical Biology, and Automobile led the losses, with declines of - 0.86%, - 1.08%, and - 1.78% respectively [6] 4.2 Market Outlook - Overseas, Trump said on the 23rd that he would impose a 50% tariff on EU goods starting from June 1st, but on the 25th, he extended the tariff negotiation deadline to July 9th at the EU's request. The US stock market opened lower and then rebounded. Domestically, the Q1 macro data showed some resilience, and with the easing of Sino - US relations, the Q2 outlook has also improved. However, the improvement rhythm of domestic demand and the real estate recovery situation still need to be observed. Overall, with the suspension of Sino - US tariff policies and domestic policy support, the capital market is expected to rise steadily. But affected by overseas markets and the pressure from the upper trading - intensive area, it is recommended that previous long positions take profit at an appropriate time and maintain a medium - low position. In terms of market style, the long - term technology narrative logic remains, and with the approval of an additional 60 billion yuan on May 7th to support the long - term entry of insurance funds into the market, high - growth technology stocks and dividend - paying sectors may be more dominant. Strategically, the long - term performance of IH and IM is favored [7][8] 5. Data Overview - There are multiple charts showing domestic major index performance, market style performance, industry sector performance (Shenwan Primary Index), trading volume of Wind All - A, trading volume of index spot, trading volume and open interest of index futures, basis trend of main contracts, inter - delivery spread trend, statistics of major ETF fund shares, and statistics of major ETF trading volume, all sourced from Wind and the Research and Development Department of CCB Futures [10][12][14] 6. Industry News - On the 23rd, Trump proposed to impose a 50% tariff on EU goods starting from June 1st, stating that the EU was established to take advantage of the US in trade and that the US - EU negotiation had made no progress. On the 25th, he extended the tariff negotiation deadline to July 9th at the EU's request and said the conversation was "very pleasant" [26]

Group 1 - In 2025, over 2000 listed companies have been surveyed by brokers, with more than 700 in May alone [1][2] - The electronic, machinery equipment, and pharmaceutical industries are favored by institutions, with over 30% of surveyed companies in these sectors [2][3] - The electronic industry has the highest survey activity, with over 90 companies surveyed in May, focusing on electronic components, integrated circuits, and semiconductor materials and equipment [2][3] Group 2 - Companies like Anji Technology (688019.SH) have been heavily surveyed, with 56 brokers participating in its research [2] - The pharmaceutical industry has also seen significant interest, with over 230 companies surveyed this year, and more than 60 in May [2] - Recent interest has also risen in the non-ferrous metals and defense industries, with around 20 companies surveyed in May [3] Group 3 - Brokers are optimistic about low-valuation defensive sectors and high-growth tracks, with over 130 companies being increased or newly held in Q1 2025 [3] - The focus for the second half of the year includes dividend sectors, domestic consumption, and technology tracks, driven by policy dividends and industrial upgrades [4][5] - Analysts suggest that investment strategies should consider geopolitical risk premiums and domestic demand activation, with a focus on sectors like military and gold as new safe-haven assets [4][6]

Market Overview - A-shares experienced a narrow range of fluctuations with major indices showing mixed results, where the Shanghai Composite Index fell by 0.30% to 3338.42, and the Shenzhen Component Index decreased by 0.71% to 10060.36 [3][4] - The TMT sector showed strength, with the Wande TMT Index rising over 1.5% during the session, and more than 10 stocks in the sector hitting the daily limit or increasing by over 10% [4][6] Stock Performance - Notable gainers in the TMT sector included: - Zhilaike Technology (300771) up 20.00% to 12.90 - Huichang Communication (300578) up 19.99% to 21.13 - Zhongke Information (300678) up 19.99% to 35.12 [5] - Conversely, the medical and biological sector faced declines, with Haichen Pharmaceutical dropping over 12% and several other stocks falling more than 5% [6] Hong Kong Market - The Hong Kong market saw a decline, with the Hang Seng Index down 1.00% to 23366.06 and the Hang Seng Tech Index down 1.32% to 5177.45 [12][13] - Major stocks like BYD and Geely experienced significant drops, with BYD falling over 8% during the session [13][15] Company Specifics - Miniso reported a 18.9% year-on-year revenue growth for Q1, with adjusted net profit at RMB 587.2 million, down from RMB 616.9 million in the same period last year [20] - The total number of Miniso stores reached 7768 as of March 31, 2025, with a net increase of 978 stores year-on-year [20] Commodity Market - In the futures market, domestic coking coal futures saw a decline of over 1%, with a cumulative drop exceeding 30% for the year [21][23] - The pressure on coking coal prices is attributed to increased supply from Shanxi and Xinjiang, with limited demand growth, leading to inventory pressures [23]

证券时报·数据宝统计，截至上午10:28，今日沪指涨0.38%，A股成交量380.43亿股，成交金额4647.56亿 元，比上一个交易日减少6.31%。个股方面，4041只个股上涨，其中涨停56只，1192只个股下跌，其中 跌停3只。从申万行业来看，传媒、计算机、环保等涨幅最大，涨幅分别为1.98%、1.29%、1.25%；汽 车、医药生物、电力设备等跌幅最大，跌幅分别为0.84%、0.71%、0.12%。（数据宝） 今日各行业表现（截至上午10:28） | 申万行业 | 行业涨跌（%） | 成交额（亿元） | 比上日（%） | 领涨（跌）股 | 涨跌幅（%） | | --- | --- | --- | --- | --- | --- | | 传媒 | 1.98 | 156.89 | 12.43 | 冰川网络 | 11.80 | | 计算机 | 1.29 | 352.14 | -0.48 | 智莱科技 | 20.00 | | 环保 | 1.25 | 53.04 | 2.40 | 森远股份 | 11.46 | | 有色金属 | 0.98 | 218.79 | 14.29 | 天力复合 | 5.08 | | 交通 ...

从市场运行节奏看，沪指反弹遇阻，短期进入调整状态。沪指于 4 月中旬逐步企稳反弹，经过一个 多月的反弹，受到来自于今年一季度的市场高点和去年四季度的成交密集区的压力，遇阻回落，近两周 呈现出高点下移，低点同步下移的调整态势，需密切关注下方均线的支撑力度。 风险提示：国际地缘、贸易冲突超出预期；全球金融市场风险暴露；国内上市公司业绩增速回落超 预期；全球经济衰退超预期。 首先，宏观信息进入相对"真空期"，市场正在等待新变量。5 月以来，中美互相下降关税、我国央 行降准降息以及四月宏观数据的披露等重大宏观信息均以披露并在市场上有了充分的反馈，短期似乎进 入了相对的信息"真空期"，市场正在等待新的变量。另外，公募基金和上市公司重组的相关的新规定也 正在逐步影响市场的微观结构，市场呈现板块和风格轮动的局面。 本周，两市遇阻回落，成交萎缩。沪指先弹后跌，周三盘中产生本周高点，低于上周高点；周五回 落时击穿上周低点，形成了短期调整结构。深圳成指周中的反弹继续被 60 天均线压制，收盘于 20 天均 线上方。量能方面，本周两市日均量能在 11000 亿左右，较上周继续下降。本周市场热点主要集中在医 药生物和大消费行业。投资 ...