下跌方面，影视院线概念集体大跌，博纳影业2连跌停。 沪深两市成交额约17241.73亿元，较前一个交易日缩量约492.66亿元。 个股方面，新易盛、中际旭创、航天发展、阳光电源、航天电子成交额均在100亿元之上。 | 还原 容代码 | | 名称 | 涨幅 | 现手 | 现价 | 总手 | 昨收 | 开盘 | gim | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 300502 新易盛 | | -4.59% | 83104 | 407.20 | 38.79万 | 426.81 | 420.98 | 425 | | വ | 300308 中际旭创 | | -3.34% | 38934 | 551.79 | 27.97万 | 570.86 | 568.80 | 575 | | 3 | 000547 航天发展 | | +6.40% | 132169个 | 22.93 | 624.84万 | 21.55 | 21.28 | 23 | | র্ব | 300274 阳光电源 | | -3.66% | 54494 | 163.97 ...

Core Viewpoint - The A-share market experienced a decline, with major indices falling, while certain sectors like retail and digital currency showed strength due to supportive government policies aimed at boosting consumption [1][2][4]. Group 1: Market Performance - The Shanghai Composite Index fell by 1.11% to 3824.81 points, the Shenzhen Component dropped by 1.51% to 12914.67 points, and the ChiNext Index decreased by 2.1% to 3071.76 points [1]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.72 trillion yuan, with over 4300 stocks declining [1]. Group 2: Sector Highlights - The retail sector was notably active, with Baida Group achieving a four-day consecutive rise, and Hongqi Chain and Guangbai Shares both rising for two consecutive days [2]. - The dairy industry saw a resurgence, with Huangshi Group hitting a daily limit up and other companies like Huanlejia and Sunshine Dairy also performing well [3]. - Digital currency-related stocks strengthened, with companies like Aerospace Information and Cuilong Shares hitting daily limits [4]. Group 3: Institutional Insights - Everbright Securities anticipates a favorable cross-year market for A-shares, supported by ongoing domestic economic policies and historical trends indicating strong market performance at the beginning of new five-year plans [5]. - Huaxi Securities highlights that recent meetings have bolstered market risk appetite, suggesting a focus on growth sectors and industries benefiting from anti-involution policies [6]. - Dongfang Securities emphasizes the importance of core technology sectors, noting that the market may continue to experience structural fluctuations as it approaches year-end [7].

证券研究报告·行业点评报告·非银金融 非银金融行业点评报告 公募持仓观察：非银板块景气度持续上行， 细分行业均获增持——25Q2 非银板块公募 持仓分析 增持（维持） [Table_Tag] [Table_Summary] 投资要点 2025 年 07 月 22 日 证券分析师 孙婷 执业证书：S0600524120001 sunt@dwzq.com.cn 研究助理 罗宇康 执业证书：S0600123090002 《权益 ETF 系列：大盘预警信号消失， 后续可能持续上涨，关注高景气投资 方向》 2025-07-20 东吴证券研究所 1 / 4 luoyk@dwzq.com.cn 行业走势 -10% -3% 4% 11% 18% 25% 32% 39% 46% 53% 60% 2024/7/22 2024/11/20 2025/3/21 2025/7/20 非银金融 沪深300 相关研究 《券商中报确认高增长，保险业绩亦 值得期待》 2025-07-20 请务必阅读正文之后的免责声明部分 ◼ 事件：2025 年公募基金二季报发布完毕，2025 年二季度末公募基金股 票投资中非银金融行业总持仓 1.93%（含同 ...