通宇通讯盘中涨停，已连收4个涨停板，截至9:31，该股报28.78元，换手率0.78%，成交量261.63万股， 成交金额7529.60万元，涨停板封单金额为13.48亿元。连续涨停期间，该股累计上涨46.46%，累计换手 率为21.19%。最新A股总市值达151.08亿元，A股流通市值95.95亿元。 证券时报·数据宝统计，两融数据来看，该股最新（12月1日）两融余额为3.91亿元，其中，融资余额 3.90亿元，较前一个交易日减少5215.20万元，环比下降11.79%，近4日累计减少5502.15万元，环比下降 12.36%。 龙虎榜数据显示，该股因连续三个交易日内，涨幅偏离值累计达20%、日涨幅偏离值达7%上榜龙虎榜1 次，买卖居前营业部中，机构净卖出887.88万元，深股通累计净卖出2114.06万元，营业部席位合计净买 入8331.41万元。（数据宝） 近日该股表现 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.12.01 | 10.01 | 0.93 | 3600.58 | | 2025.11.2 ...

5A不是一种网络制式，是指 5A 级的优质网络体验，它代表华为终端先进的通信技术，可以为您带来更 快接入、更快网速、更低时延、更稳连接的综合通信体验。 5A和5G-A（5GA）的区别是什么？5A是不是5G？5A是5G-A（5GA）吗？5A是不是5.5G？ 5A不等同于 5G-A（5GA），也不等同于5.5G。5A是指5A级的优质网络体验，代表华为终端先进的通 信技术，可以为用户带来更快接入、更快网速、更低时延、更稳连接的综合通信体验。5G是第5代通信 技术，是一种网络制式。 5G-A（5GA）/5.5G是5G的演进版本。哪些手机会支持5A？ 日前，华为Mate 80系列开售，首批用户已开始使用新机。许多用户在体验过程中发现，Mate 80系列的 信号栏显示了一个"5A"标识，这引发了不少人对其含义的猜测：5A是不是代表5G网络？ 华为官网显示，5A其实并不是一种网络制式，而是指5A级的优质网络体验。5A代表华为终端先进的通 信技术，可以带来更快接入、更快网速、更低时延、更稳连接的综合通信体验。 华为强调，5A不等同于5G-A(5GA)，也不等同于5.5G。此外，5A不涉及额外资费，也没有单独的开 关，为增强用 ...

"我们要看到公司面临的困难以及未来的困难，未来十年应该是一个非常痛苦的历史时期，全球经济会持续衰退。" ——《整个公司的经营方针要从追求规模转向追求利润和现金流》 我在2022年读到这句话的时候也没有太在意，而当我在2025年想到这句话的时候，才恍然惊觉什么是有预见性的企业家。 可惜很多老板都是身临其境才觉悟，我这三年就真的品味到了什么叫后知后觉，什么叫后悔。 如果3年前就认真准备"过冬"，那很多没必要的开支就减掉了，更不至于还投资什么项目，这样说也是希望大家吸取教训，真正知行合一。 不遵循既定原则的事情自然不会有好的结果，真的是这样。 2022年华为实现销售收入6423亿，这是华为连续两年"6"字出头了——2020年是8914亿。 华为当时是喊出了"有质量的活下来"的口号，"华为对未来过于乐观的预期情绪要降下来，2023年甚至到2025年，一定要把活下来作为最主要的纲领活下 来，有质量的活下来，这个口号很好，每个业务都要去认真执行。" 人无远虑必有近忧，什么意思？老方说就是指如果你没有计划和目标，那困难时期就跟缓期徒刑一样滋味不好受，所以你不改变自己，现实就会改变你的命 运。 "一定要讲实现，尤其在进行业务 ...

Group 1 - The core point of the article is that ZTE Corporation has achieved a transaction volume of 10 billion yuan, but its stock price has decreased by 0.09% [1] Group 2 - The transaction volume of ZTE Corporation reached 10 billion yuan, indicating significant market activity [1] - Despite the high transaction volume, the company's stock experienced a slight decline, reflecting potential market volatility or investor sentiment [1]

早盘提示 Morning session notice 更多精彩内容请关注格林大华期货官方微信 格林大华期货研究院 证监许可【2011】1288 号 2025 年 12 月 2 日 星期二 研究员： 于军礼 从业资格： F0247894 交易咨询资格：Z0000112 联系方式：yujunli@greendh.com | 板块 | 品种 | 多（空） | 推荐理由 | | --- | --- | --- | --- | | | | | 【行情复盘】 周一两市主要指数震荡上行，通信设备、有色板块领涨。两市成交额 1.87 万亿元， | | | | | 上涨放量。沪深 300 指数收 4576 点，涨 49，涨幅 1.10%；上证 50 指数收 2993 点， | | | | | 涨 24 点，涨幅 0.81%；中证 500 指数收 7101 点，涨 70 点，涨幅 1.00%；中证 1000 | | | | | 指数收 7386 点，涨 52 点，涨幅 0.72%。行业与主题 ETF 中涨幅居前的是黄金股票 | | | | | ETF 基金、工业有色 ETF、通信设备 ETF、物联网 ETF、旅游 ETF，跌幅 ...

智通财经APP获悉，中金发布研报称，11月A股市场震荡调整，交易活跃度有所下降，风格演绎阶段性"高切低"但持续时间短且主线不清，红利略有相对 表现。从全球范围看，主要经济体股票市场普跌，一方面投资者对于美联储降息节奏预期反复，另一方面对当前AI资产是否已经出现泡沫、科技叙事持 续性的担忧阶段性升温。 展望后市，中金认为短期风格切换较难持续，在中外流动性宽松周期共振的背景下，A股市场估值相对合理，AI科技革命与能源革命支撑上游原材料到中 游制造需求，成长产业高景气带动上市公司业绩改善，震荡上行的趋势仍在延续，当前时点至明年初，仍重点关注大盘成长风格，较长时间维度的风格切 换可能出现在明年一季度左右。四季度以来通胀预期普遍下调，年末涉及房地产、促消费等相关领域的政策信号有待观察。 5）金融：银行高股息属性吸引中长期资金配置，股票市场情绪与活跃度边际回落。在宏观经济寻底阶段，银行股盈利保持稳定，凭借股息确定性与低估 值，吸引保险等中长期资金持续增加配置。10月保险行业保费收入同比增长8%，保险公司资产总额同比增速约为16%，我们认为"开门红"期间保费有望 维持较好增长。11月全部A股日均成交额下行至1.9万亿元，两 ...

Industry Overview - The A-share market experienced fluctuations in November, with a brief "high to low" style switch that lacked clarity in the main themes, while dividend stocks showed slight relative performance [2] - Global stock markets saw declines, influenced by fluctuating expectations regarding the Federal Reserve's interest rate cuts and concerns over potential AI asset bubbles [2] - The outlook suggests that style switching may not be sustainable in the short term, with a focus on large-cap growth styles until early next year [2] Energy and Basic Materials - The "anti-involution" policy is advancing, leading to a divergence in demand between old and new economies, with the Federal Reserve's interest rate cut pace under observation [2] - Prices for various commodities showed mixed performance: thermal coal up 6%, lithium carbonate up 16%, while coking coal and iron ore prices fell by 17% and 1% respectively [2] - The U.S. government has resumed operations, alleviating some liquidity concerns, but the job market remains resilient, warranting attention to future Federal Reserve meetings [2] Industrial Products - The domestic real estate chain remains weak, while emerging markets present significant opportunities for exports [3] - In October, domestic excavator sales grew by 2% year-on-year, while export sales increased by 13% [3] - The photovoltaic industry chain has seen a slowdown in price increases, with prices for polysilicon and solar cells remaining stable month-on-month [3] Consumer Products - Traditional consumer sectors are struggling, with policies aimed at boosting consumption being gradually introduced [4] - Home appliance sales have declined significantly, with washing machines, refrigerators, and air conditioners down by 23%, 27%, and 24% year-on-year respectively [4] - The Central Committee has emphasized the need to stimulate consumption, with plans to create three trillion-level consumption sectors by 2027 [4] Technology - Continuous innovation in AI applications is noted, with domestic models progressing steadily [5] - The technology sector's leading stocks faced adjustments in November, but companies in communication equipment are expected to benefit from increased capital expenditure in North America [5] - The gaming sector remains robust, with 166 game licenses issued in October, maintaining a high level [5] Financial Sector - Bank stocks are attracting long-term capital due to their high dividend yields and stable earnings [6] - The insurance sector saw an 8% year-on-year increase in premium income in October, with total assets growing by approximately 16% [6] - The average daily trading volume in the A-share market fell to 1.9 trillion yuan in November, indicating a decline in market activity [6] Real Estate - The focus remains on destocking and debt reduction, with significant policy support anticipated [6] - In November, the sales area of commercial housing in 30 major cities fell by 36% year-on-year, although it rose by 1% month-on-month [6] - The price index for new and second-hand residential properties in 70 major cities declined by 2.6% and 5.4% year-on-year respectively [6] Recommendations - Focus on AI applications, particularly in domestic computing power, optical modules, and cloud computing infrastructure, as well as sectors like innovative drugs and energy storage [7] - Certain non-ferrous metals are expected to benefit from global monetary order restructuring and demand recovery [7] - Export performance is currently stronger than domestic demand, with companies in sectors like electrical equipment and engineering machinery showing promising prospects [7]

中原证券指出，经过前期的快速波动之后，上周A股市场逐步企稳回升。全年实现5%左右增长目标的 可能性较大，宏观面处于温和修复但基础仍需巩固的状态。中长期支撑本轮A股上涨的基础并未发生转 变，市场对即将召开的重要会议抱有期待，会议将对明年经济政策进行定调，可能成为提振新一轮行情 的催化剂。预计上证指数围绕4000点附近蓄势整固的可能性较大，市场风格再平衡仍将延续，周期与科 技有望轮番表现。建议投资者保持合理仓位，密切关注宏观经济数据、海外流动性变化以及政策动向。 短线建议关注通信设备、半导体、消费电子以及有色金属等行业的投资机会。 ...

Summary of Key Points Core Viewpoint - On December 1, the industry-themed ETF funds experienced a net outflow of 2.217 billion yuan, with a cumulative net outflow of 21.43 billion yuan over the past five trading days, indicating a trend of capital withdrawal from these funds [1]. Fund Performance - A total of 66 industry-themed ETFs saw net inflows on December 1, with the Huabao Securities ETF (512000) leading the inflow, increasing by 330 million shares and a net inflow of 186 million yuan [1][3]. - Conversely, 141 industry-themed ETFs experienced net outflows, with the Guotai Zhongzheng All-Index Securities Company ETF (512880) having the largest outflow, decreasing by 501 million shares and a net outflow of 592 million yuan [1][4]. Top ETFs by Net Inflow - The top ETFs by net inflow on December 1 included: - Huabao Securities ETF (512000): 1.86 billion yuan net inflow, 701.77 million shares [3]. - Guotai Zhongzheng All-Index Communication Equipment ETF (515880): 1.72 billion yuan net inflow, 42.93 million shares [3]. - Other notable inflows included the China Merchants Zhongzheng Battery Theme ETF (561910) and the Southern Zhongzheng Shenwan Nonferrous Metals ETF (512400) [3]. Top ETFs by Net Outflow - The top ETFs by net outflow on December 1 included: - Guotai Zhongzheng All-Index Securities Company ETF (512880): 5.92 billion yuan net outflow, 499.03 million shares [4][5]. - Huabao Zhongzheng Bank ETF (512800): 4.35 billion yuan net outflow, 213.76 million shares [5]. - Other significant outflows were seen in the Guolian An Zhongzheng Semiconductor ETF (512480) and the Yongying Zhongzheng Hong Kong Gold Industry ETF (517520) [5].

Core Viewpoint - The A-share market experienced a strong opening on December 1, with all three major indices rising, driven by significant inflows into large-cap stocks and various sectors such as smart speakers, MCU chips, and rare earths [1][2][4]. Market Performance - On December 1, the Shanghai Composite Index, Shenzhen Component Index, ChiNext Index, and other indices saw increases of 0.65%, 1.25%, 1.31%, and 1.52% respectively, with the Shanghai Composite Index surpassing 3910 points [1][2]. - The total market turnover reached 1.89 trillion yuan, an increase of 291.7 billion yuan from the previous trading day, indicating a significant increase in trading activity [2][4]. Sector Analysis - Key sectors that showed strong performance included smart speakers, MCU chips, ice and snow tourism, rare earths, and 6G technology, while lithium battery-related sectors experienced some adjustments [2][3]. - Among the major industries, non-ferrous metals, communication, and electronics led the gains, with increases of 2.85%, 2.81%, and 1.58% respectively [2][4]. Stock Contributions - Major contributors to the Shenzhen Component Index included Ningde Times, Zhongji Xuchuang, and ZTE, which collectively contributed 64.08 points, accounting for nearly 40% of the index's rise [2]. - In the ChiNext Index, Ningde Times and Zhongji Xuchuang were also significant contributors, accounting for over 90% of the index's increase [2]. Fund Flow - On December 1, the net inflow of funds into the Shanghai and Shenzhen markets exceeded 40 billion yuan, with large-cap stocks attracting significant investment [3][4]. - A total of 2321 stocks saw net inflows, while 2827 stocks experienced net outflows, indicating a preference for large-cap stocks [3][4]. Future Market Outlook - Analysts suggest that the current market conditions, including easing overseas disturbances and expectations of global liquidity, provide a solid foundation for a potential year-end rally [5]. - Historical trends indicate that growth and cyclical sectors are likely to perform well, with a focus on sectors such as aviation equipment and AI-related technologies [5].