分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 互联网汽车领涨 A 股震荡整理 ——市场分析 相关报告 《市场分析：证券软件行业领涨 A 股震荡上 行》 2025-07-11 《市场分析：金融地产行业领涨 A 股震荡上 行》 2025-07-10 《市场分析：金融传媒行业领涨 A 股小幅震 荡》 2025-07-09 联系人： 李智 电话： 0371-65585629 地址： 郑州郑东新区商务外环路10号18楼 地址： 上海浦东新区世纪大道 1788 号 T1 座 22 楼 证券研究报告-市场分析 发布日期：2025 年 07 月 15 日 投资要点： ◼ A 股市场综述 周二（07 月 15 日）A 股市场冲高遇阻、小幅震荡整理，早盘股指平 开后震荡上行，盘中沪指在 3527 点附近遭遇阻力，随后股指震荡回 落，尾盘企稳回升，盘中互联网服务、计算机设备、汽车以及通信 设备等行业表现较好；电力、煤炭、采掘以及光伏设备等行业表现 较弱，沪指全天基本呈现小幅震荡整理的运行特征。创业板市场周 二震荡上扬，创业板成分指数全天表现强于主板市场。 ◼ ...

Core Insights - The Beijing Stock Exchange (BSE) reported that 265 companies achieved a total net profit of 11.03 billion yuan in 2024, with 225 companies profitable, resulting in a profitability rate of 85% [1][2] - Companies listed on the BSE increased their R&D investment to over 9.1 billion yuan in 2024, demonstrating a commitment to innovation and quality improvement [1][4] Financial Performance - The total operating revenue for BSE companies was 180.845 billion yuan, remaining stable compared to the previous year, with 31 companies exceeding 1 billion yuan in revenue [2] - 120 companies reported a year-on-year increase in net profit, with 42 companies achieving positive net profit growth for three consecutive years [2] - The top three companies by net profit were Better Energy, Tongli Co., and Jinbo Bio, with net profits of 930 million yuan, 793 million yuan, and 732 million yuan respectively [2] Industry Trends - The consumer and automotive sectors showed signs of recovery, with net profit growth of 8.75% in automotive-related industries, driven by policies promoting automotive consumption [3] - The home appliance and textile sectors experienced net profit increases of 18.99% and 14.40% respectively, while the engineering machinery sector saw a 13.44% rise in net profit [3] - Conversely, the basic chemical and photovoltaic equipment sectors faced declines in net profit of 72.93% and 43.12% respectively due to market adjustments [3] R&D and Innovation - BSE companies collectively invested over 9.1 billion yuan in R&D, with more than 60% of companies increasing their R&D spending year-on-year [4] - The average R&D intensity reached 5.04%, with 41 companies exceeding a 10% R&D intensity [4] - Over half of the companies on the BSE are recognized as national "little giant" enterprises, highlighting their innovative capabilities [4] Mergers and Acquisitions - The BSE has seen five companies complete refinancing, raising a total of 1.35 billion yuan, and three companies plan to issue targeted convertible bonds to raise 370 million yuan [5] - Companies are actively pursuing mergers and acquisitions to enhance innovation and expand production capabilities, with notable examples including Jiahua Technology's acquisition of a Vietnamese paper products company [5] Shareholder Returns - Over 90% of profitable companies announced dividend plans, totaling 5.968 billion yuan in 2024, with more than 30% of companies distributing over 50% of their net profits as dividends [6] - The BSE also saw a high volume of share buyback plans, with 28 new buyback plans announced in 2024, totaling over 798 million yuan [6] - Investor relations management improved significantly, with over 7,000 institutional surveys conducted and more than 300 investor engagement activities held throughout the year [6]