市场开始加速向积极方面变化。周二成交量增加较为显著，行业几乎 普涨格局。指数经过数日缩量震荡盘整后，当前已经来到去年 9 月行 情以来的箱体上沿，出现向上突破的酝酿形态。行业上的积极变化更 为明显，尤其是光伏风电等新能源板块的大幅上行，为市场增添了新 的动力。当前一方面有算力产业链的迭创新高，另一方面有低位板块 的放量启动，后续指数再创新高的可能性大为增加。 光伏板块的放量启动是一个重大信号。近期市场对反内卷行业的关注 度较高，从高级别会议的表述来看，这类重要行业后续具体措施出台 的可能性较大。这些行业经过长期调整，当前具备较强的安全边际。 另外，军工行业整体上行趋势仍保持良好，其前阶段的缩量窄幅调整， 或提供了较好的再次介入机会。而随着算力板块的不断新高， PCB 等 行业的上游关联产业，也出现了新的机会。 每日市场观察 2025 年 7 月 9 日 【今日关注】 周二市场涨幅较大，成交额 1.47 万元，比上一交易日增加约 2400 亿。 行业上除银行，公用事业小幅下跌，其余行业全部上涨，通信、电力 设备、建材等行业涨幅居前。 【市场回顾】 市场概况：7 月 8 日，市场全天震荡走高，创业板指领涨，沪指逼 ...

Group 1 - The core viewpoint of the article highlights the strong performance of computing hardware stocks, particularly in the PCB sector, with Dongshan Precision rising over 7% to reach a historical high and a total market capitalization exceeding 85 billion [1] - The article notes that other companies in the sector, such as Tongguan Copper Foil, have also seen significant gains, with a 20% limit up, and several others like Jinan Guoji, Yihua New Materials, Honghe Technology, Changguang Huaxin, Dongtian Micro, and Guanghe Technology rising over 5% [1] - The driving force behind this growth is attributed to the increasing capital expenditures of cloud service providers like Microsoft and Google, which are expected to grow over 30% year-on-year by 2025, alongside domestic companies like Alibaba and Tencent, with projected capital expenditures exceeding 120 billion and 80 billion respectively [1]

Core Viewpoint - The recent surge in the stock performance of Shenghong Technology is attributed to the rising interest in sectors such as AI computing power, new energy vehicles, 6G, PCB, and Huawei's HarmonyOS, making it a standout in the A-share market [1] Company Performance - Shenghong Technology's stock price has reached historical highs, closing at 146.31 yuan per share on July 4, with a market capitalization of 126.2 billion yuan, making it the first company in Huizhou to surpass the 100 billion yuan market cap [1] - The company has seen its market capitalization increase significantly, surpassing key milestones from 600 billion yuan in March to 1.26 trillion yuan in July, marking an increase of over 60 billion yuan in just over three months [4][5] - For the fiscal year 2024, Shenghong Technology reported revenue of 10.731 billion yuan, a year-on-year increase of 35.31%, and in Q1 2025, it achieved revenue of 4.312 billion yuan, up 80.32% year-on-year, with a net profit of 921 million yuan, reflecting a staggering growth of 339.22% [5] Industry Context - China is the largest PCB production base globally, with Huizhou being a key hub in this sector. Among the 20 listed companies in Huizhou, four are PCB manufacturers, including Shenghong Technology, which collectively generated 19.405 billion yuan in revenue in 2024 [6] - In Q1 2025, these four PCB companies all reported positive revenue growth, totaling 6.519 billion yuan, indicating a robust performance in the PCB manufacturing sector [6]

| 初始 | 代码 | 名称 | | | 最新 | 涨幅% | | --- | --- | --- | --- | --- | --- | --- | | 1 | 600744 | 华银电力 | 1 | 11 | 7.59 | 2.99 | | 2 | 002263 | 大东南 | 1 | 1 | 4.64 | 1.53 | | 3 | 601003 | 柳钢股份 | 1 | 1 | 5.17 | -1.15 | | র্ব | 002636 | 金安国纪 | 1 | 0 | 15.09 | 9.99 | | 5 | 603256 | 宏和科技 | 1 | 0 | 22.80 | 2.33 | | 6 | 600475 | 未来比较 | 1 | 0 | 15.30 | 0.59 | | 7 | 605162 | 新中港 | 1 | 1 | 10.36 | 0.29 | | 8 | 605500 | 森林包装 | 1 | 0 | 11.07 | 0.91 | | ி | 002623 | 亚玛顿 | 1 | 0 | 24.69 | 0.28 | | 10 | 600537 | 忆闘米甲 | 1 | 0 | 3. ...

前言 ①数字货币+区块链+华为+数据要素！这家公司在数字货币方面有较深的技术储备；②PCB概念+芯片+光 刻胶+光伏！这家公司与主流PCB制造厂商建立稳定供货关系；③芯片+合成生物+氢能源+储能！公司现 金收购半导体企业股权。 每周日至每周四推送明日股市重大公告！内容包含"停复牌、增减持、投资中标、收购、业绩、解禁、 高送转"等一系列个股利好利空公告，其中重要公告均以红色标注，帮助投资者提前寻找到投资热点， 防范各类黑天鹅事件，并且有充足的时间进行分辨和寻找合适的上市公司。 ...

PCB Industry - Global PCB market value is expected to reach $94.7 billion by 2029, with a CAGR of 5.2% from 2024 to 2029; China's PCB market value is projected to hit $49.7 billion by 2029 [1] - Major cloud companies like Microsoft and Google are expected to increase capital expenditures by over 30% in 2025, with domestic companies Alibaba and Tencent expected to spend over 120 billion and 80 billion respectively, driven by AI infrastructure demand [1] - The current recovery in downstream electronic demand, combined with the growth in innovative fields like AI and high-speed communication, supports overall PCB demand growth [1] Gaming Industry - In June 2025, 33 Chinese companies are expected to enter the global mobile game publisher revenue ranking TOP 100, collectively earning $1.76 billion, accounting for 33% of the total revenue of the global TOP 100 mobile game publishers [2] - Shanghai's government has initiated a policy trial to treat games developed by foreign companies in Shanghai as domestic games, potentially increasing the efficiency and quantity of quality games entering the Chinese market [2] - The domestic gaming industry shows solid market demand and high prosperity, with AI technology applications in gaming expected to lead to more AI-native games, driving a reevaluation of the gaming industry's value [2] Low-altitude Economy - The low-altitude economy has been included in the government work report for the first time, becoming a national strategic emerging industry, with the market expected to reach 1.5 trillion yuan by 2025 and potentially exceed 3.5 trillion yuan by 2035 [3] - A complete low-altitude new infrastructure solution was released at the 2025 Aerospace Information Conference, showcasing innovations in satellite internet, low-altitude cloud, and AI applications [3] - The low-altitude economy is expected to attract capital and achieve significant synergy across the entire industry chain, moving from pilot exploration to large-scale application [3] AI Education - The Ministry of Education has launched a digital empowerment initiative for teacher development, aiming to enhance the application of AI and big data in education and improve teaching quality [4] - By 2025, it is expected that AI technology will cover over 50% of middle and primary school classrooms, with the smart education market projected to reach 180 billion yuan by 2025, growing at a CAGR of 34.5% from 2023 to 2030 [4] - The integration of AI in education is anticipated to transform from an "auxiliary tool" to a "main educational entity," reshaping human learning paradigms [4] AI in Government Services - The State Council has proposed exploring the application of "AI + government services," focusing on enhancing efficiency in administrative processes through AI technologies [5] - The initiative aims to provide intelligent services such as smart Q&A and intelligent assistance for approval processes, ensuring the safety and reliability of AI applications in government [5] Childcare Services - The National Development and Reform Commission has outlined a "1+N" childcare service system to enhance the development of inclusive childcare services [6] - The Chinese infant childcare market is projected to reach 151.81 billion yuan in 2024, with expectations to grow to 232.31 billion yuan by 2030, driven by supportive government policies [6] Cement Industry - Several cement companies are expected to report positive half-year earnings due to industry consolidation and declining costs, with Fujian Cement projecting a net profit of approximately 20.67 million yuan for the first half of 2025 [7] - The cement industry is seeing a push for "anti-involution" and "stable growth," with potential improvements in actual capacity utilization rates if certain production lines are phased out [7]

A股复盘 | 迷茫 / 2025.07.08 A股总是出乎意料，涨得猝不及防，又又又来到3500点城下，希望这次一鼓作 气！ 好多小伙伴空仓吧！没事，炒A股总会遇到"别人大涨我空仓，别人止盈我进 场"的情况。 今天一上来特朗普就搞事，向 14 个国家致函，称要在8月1日大幅提高关税，其 中包括塞尔维亚、泰国和突尼斯等较小的出口国，连亲密盟友日韩豆征收25%的 关税。 摩根士丹利指出，如果新的关税税率生效，亚洲的加权平均关税将升至27%。 我们认为这是朝着战术升级的情景发展。 该机构指出，贸易紧张局势正在重新显现。这一发展，加上对制药和半导体行业 关税的潜在实施、与中国的谈判以及转运问题，表明不确定性可能会持续存在， 给企业信心、资本支出和贸易周期带来压力。 | 经济体 | 协议/发函日期 | GDP | 对美出口占 该国对美国 出口依赖度 | 美国对该国 进口依赖度 | | 对等关税税率 协定税率/信函税率 税率差异 | | 谈判进展 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 佳进协议 | | | | 英国 ...

7月8日，A股市场呈现全线上涨态势。沪指上涨0.7%，收报3497.48点，逼近3500点关口并创下年内新高。深成指上涨1.46%，创业板指大涨2.39%。两市共 有4283只个股上涨，75只个股涨停，仅981只个股下跌。沪深京三市合计成交额达到14747.98亿元，市场呈现量价齐升格局。港股市场同样表现强劲，恒生 指数全线上扬，多个板块实现大幅上涨。 南下资金的带动效应逐渐显现，人民币计价港股交易规模有望持续扩大。市场参与者普遍认为，这项政策将为更多企业发行人民币股票交易柜台创造有利条 件。政策的逐步落地将进一步深化两地资本市场互联互通，为投资者提供更多元化的投资选择。债券通优化扩容措施的同步推进，也为市场流动性改善提供 了重要支撑。 反内卷概念引发板块轮动 光伏板块成为当日最大亮点，通威股份、钧达股份等十余只个股强势涨停。行业自律推进以及供给侧政策预期，为板块带来明显催化效应。目前光伏行业价 格及盈利均处于底部位置，板块估值水平同样维持在较低区间。供给侧政策的修复预期下，产业链价格及盈利有望迎来系统性改善。 PCB等算力方向延续强势表现，工业富联、金安国纪等多只个股实现涨停。创新药概念股延续此前强势，美迪 ...

Group 1 - The PCB concept sector rose by 3.86%, ranking third among concept sectors, with 126 stocks increasing in value [1] - Notable stocks that hit the 20% limit up include International Composite Materials, Yihau New Materials, and Yidong Electronics, while stocks like Gonguan Copper Foil and Zhecheng Electronics saw significant gains of 12.91%, 9.63%, and 8.99% respectively [1] - The sector experienced a net inflow of 4.322 billion yuan from main funds, with 80 stocks receiving net inflows, and 17 stocks exceeding 100 million yuan in net inflows [2] Group 2 - The top net inflow stock was Pengding Holdings, with a net inflow of 587 million yuan, followed by Huadian Co., International Composite Materials, and Shenghong Technology, which saw net inflows of 393 million yuan, 324 million yuan, and 324 million yuan respectively [2] - In terms of net inflow ratios, Hongchang Electronics, Baoding Technology, and Bomin Electronics led with net inflow ratios of 37.12%, 34.03%, and 30.55% respectively [3] - The trading volume and turnover rates for notable stocks included Pengding Holdings at 5.05% increase with a turnover rate of 3.44%, and International Composite Materials at a 20% increase with a turnover rate of 19.22% [3]

Group 1 - The first focus area is on companies with strong earnings reports as July marks the earnings disclosure period, particularly in sectors like PCB and CPU, with Nvidia's patents being highlighted. The market has already anticipated strong performance, and the positive results are now being realized, indicating potential for further growth, although retail investors may find it challenging to chase these opportunities [1] Group 2 - The second focus area is on the electricity sector, which has shown impressive growth, especially during the summer peak in electricity consumption. The reduction in solar power supply due to internal competition may shift demand back to traditional electricity sources. Factors such as decreasing coal prices and increasing demand for coal-fired power generation contribute to a favorable outlook for traditional electricity, making it a sector worth monitoring, with a recommendation to wait for pullbacks before entering [2] Group 3 - The third focus area is on stablecoins and financial services, which are seen as a strategic long-term direction. For the Chinese yuan to gain international traction, there needs to be a product available for international trading. The recent strength in stablecoins suggests potential, but investors are advised to select targets carefully and wait for pullbacks to find entry points [3]