商务大数据显示，12月15日至21日，全国食用农产品市场价格比前一周(环比，下同)上涨0.2%，生产资 料市场价格与前一周基本持平。 生产资料市场：成品油批发价格略有下降，其中0号柴油、95号汽油、92号汽油分别下降0.6%、0.2%和 0.1%。煤炭价格略有下降，其中炼焦煤、无烟块煤、动力煤每吨1055元、1159元和781元，分别下降 0.6%、0.4%和0.3%。有色金属价格以跌为主，其中铝、铜分别下降0.4%和0.1%，锌上涨0.1%。化肥价 格略有波动，其中三元复合肥上涨0.2%，尿素下降0.1%。钢材价格与前一周基本持平，其中螺纹钢、 高速线材、热轧带钢每吨3358元、3547元和3508元，均上涨0.1%，普通中板、焊接钢管、槽钢每吨 3652元、3700元和3560元，均下降0.1%。基础化学原料价格小幅波动，其中硫酸、甲醇分别上涨2.9% 和0.1%，聚丙烯、纯碱分别下降1.2%和0.5%。橡胶价格略有上涨，其中天然橡胶、合成橡胶分别上涨 0.5%和0.1%。 食用农产品市场：6种水果平均批发价格小幅上涨，其中西瓜、葡萄、香蕉分别上涨3.5%、2.6%和 1.6%。禽产品批发价格略有上涨，其 ...

论坛期间，安徽上市公司综合发展能力50强、综合业绩20强、总投资规模20强、营运能力20强、创新能 力20强、ESG绩效20强等系列榜单同步出炉。 在主旨演讲环节，国家金融与发展实验室主任张晓晶发表《"十五五"时期中国资本市场发展展望》的演 讲。深圳证券交易所党委委员、副总经理李辉、北京证券交易所副总经理周箴，分别围绕健全资本市场 功能，赋能创新型中小企业高质量发展等发表演讲。 作为本次论坛重头戏，《安徽上市公司发展报告（2025）》（以下简称《报告》）重磅发布。报告围绕 新质生产力、人工智能、县域发展、并购重组、市值管理等资本市场热点话题,通过数据分析和对标分 析,结合安徽区域市场和上市公司实践,全景式探讨安徽上市公司高质量发展路径。 近年来，安徽大力推进企业上市梯次培育，常态化开展"万家企业资本市场培训"，累计培训企业家和干 部超14万人次；深入实施"迎客松行动"计划和"科创100"专项行动，"十四五"以来，安徽新增境内上市 公司62家。截至2025年11月末，全省境内上市公司总数达186家，较"十三五"末增长近50%，实现16个 地级市上市公司全覆盖，境内上市公司数量跃升至全国第7位。其中，科创板上市公 ...

Group 1: PPI Trends and Influencing Factors - PPI is showing signs of bottoming out, driven by production material prices and key industries, with over 60% of "three black and one color" industries turning from negative to positive month-on-month[3] - Production material prices and total PPI prices have escaped negative territory, ending a continuous decline[3] - The correlation between capacity surplus and PPI is historically negative; as capacity surplus decreases, PPI is expected to rise[3] Group 2: Policy Implications and Future Outlook - The "anti-involution" policy is anticipated to bring about a turning point for PPI, as it aims to slow down capacity expansion and address overcapacity issues[3] - If demand-side policies are implemented alongside "anti-involution," the pace of PPI recovery could accelerate, potentially leading to a positive PPI by mid-next year[3] - Historical data indicates that previous PPI recovery cycles were supported by demand expansion policies in conjunction with monetary easing[3] Group 3: Risks and Considerations - Risks include the possibility that the "anti-involution" initiative may progress slower than expected, geopolitical risks, and the potential for historical patterns to fail[3] - The need for balanced growth between capacity expansion and demand is emphasized to avoid economic overheating or prolonged low PPI[3]

Core Viewpoint - The industrial producer price index shows a year-on-year decline of 2.9%, indicating a downward trend in producer prices [5][7]. Group 1: Producer Prices - The industrial producer's ex-factory prices have decreased, with a year-on-year drop of 2.9% and a month-on-month decrease of 0.1% [5][9]. - The decline in production material prices contributed approximately 2.40 percentage points to the overall decrease in producer prices, while living material prices contributed about 0.45 percentage points [7]. Group 2: Price Changes by Category - Year-on-year changes in producer prices for various categories include: - Production materials down 3.2% - Living materials down 1.7% [7]. - Month-on-month changes in producer prices show: - Black metal materials down 5.6% - Fuel and power down 9.7% - Chemical raw materials down 6.2% - Agricultural and sideline products down 5.6% - Construction materials and non-metallic materials down 4.7% - Textile raw materials down 2.0% - Non-ferrous metal materials and wires up 4.7% [9].

Group 1: Agricultural Products Market - The national edible agricultural product market price increased by 0.5% from the previous week [1] - The average wholesale price of 30 types of vegetables reached 4.46 yuan per kilogram, rising by 3.2%, with broccoli, cucumber, and zucchini increasing by 18.9%, 10.9%, and 10.2% respectively [1] - Poultry product wholesale prices saw slight increases, with eggs and white-cut chicken rising by 1.4% and 0.5% respectively [1] - Aquatic product wholesale prices experienced minor increases, with grass carp, large yellow croaker, and carp rising by 0.5%, 0.5%, and 0.1% respectively [1] - Meat wholesale prices showed slight fluctuations, with pork priced at 20.05 yuan per kilogram, decreasing by 0.6%, while beef and lamb increased by 0.3% [1] - Grain and oil wholesale prices slightly decreased, with soybean oil, rapeseed oil, rice, and flour all dropping by 0.2%, while peanut oil increased by 0.1% [1] - The average wholesale price of six types of fruits slightly decreased, with grapes, watermelons, and bananas falling by 1.1%, 1.1%, and 0.9% respectively [1] Group 2: Production Materials Market - Steel prices experienced slight declines, with high-speed wire, rebar, and hot-rolled strip steel priced at 3595 yuan, 3411 yuan, and 3613 yuan per ton, decreasing by 1.2%, 1.1%, and 0.6% respectively [2] - Basic chemical raw material prices saw minor decreases, with polypropylene, sulfuric acid, methanol, and soda ash dropping by 1.3%, 0.7%, 0.4%, and 0.1% respectively [2] - Non-ferrous metal prices slightly retreated, with zinc, copper, and aluminum decreasing by 0.9%, 0.7%, and 0.3% respectively [2] - Refined oil wholesale prices continued to decline, with 0 diesel, 92 gasoline, and 95 gasoline decreasing by 0.2%, 0.1%, and 0.1% respectively [2] - Fertilizer prices remained stable with a slight increase, as urea rose by 0.1%, while compound fertilizers remained unchanged from the previous week [2] - Coal prices continued to rise, with coking coal, thermal coal, and anthracite priced at 994 yuan, 766 yuan, and 1138 yuan per ton, increasing by 1.1%, 0.4%, and 0.1% respectively [2] - Rubber prices saw slight increases, with synthetic rubber and natural rubber rising by 0.9% and 0.5% respectively [2]

Agricultural Products Market - The national market price of edible agricultural products increased by 0.3% from the previous week [1] - The average wholesale price of 30 types of vegetables reached 4.32 yuan per kilogram, rising by 3.1%, with cauliflower, broccoli, and spinach increasing by 17.4%, 16.5%, and 11.3% respectively [1] - Wholesale prices of aquatic products saw an increase, with large yellow croaker, large mackerel, and silver carp rising by 2.0%, 1.0%, and 0.6% respectively [1] - Grain and oil wholesale prices remained stable, with soybean oil and rapeseed oil both increasing by 0.2%, while peanut oil and flour decreased by 0.2% [1] - Poultry product wholesale prices slightly declined, with eggs and white-feathered chickens decreasing by 0.6% and 0.1% respectively [1] - Meat wholesale prices showed slight fluctuations, with pork priced at 20.17 yuan per kilogram, decreasing by 0.7%, while beef and lamb increased by 0.7% and 0.2% respectively [1] - Fruit wholesale prices experienced a slight decline, with bananas, grapes, and watermelons decreasing by 2.2%, 1.8%, and 1.1% respectively [1] Production Materials Market - Rubber prices saw a slight increase, with synthetic rubber and natural rubber rising by 0.8% and 0.6% respectively [2] - Prices of non-ferrous metals experienced a slight increase, with copper and aluminum rising by 1.0% and 0.2% respectively, while zinc remained stable [2] - Basic chemical raw material prices were mainly on the rise, with sulfuric acid increasing by 0.9%, while methanol, soda ash, and polypropylene decreased by 0.5%, 0.3%, and 0.3% respectively [2] - Coal prices continued to rise, with coking coal, thermal coal, and anthracite priced at 983 yuan, 763 yuan, and 1137 yuan per ton, increasing by 0.7%, 0.3%, and 0.2% respectively [2] - Steel prices remained stable, with hot-rolled strip steel and ordinary medium plates priced at 3636 yuan and 3791 yuan per ton, both increasing by 0.3%, while rebar and high-speed wire rod decreased by 0.1% [2] - Finished oil wholesale prices saw a slight decline, with 0 diesel, 92 gasoline, and 95 gasoline all decreasing by 0.2% [2] - Fertilizer prices experienced a slight decrease, with urea and compound fertilizer decreasing by 0.7% and 0.1% respectively [2]

Economic Growth Indicators - The Guosen High-Frequency Macro Diffusion Index A turned negative this week, while Index B showed seasonal decline, indicating a stable economic growth momentum[1] - Real estate sector performance improved, while investment and consumption sectors showed a decline, with the real estate sector performing relatively better[1] - The standardized Index B decreased by 0.14, remaining close to historical average levels, suggesting steady domestic economic growth[1] Asset Price Predictions - Current domestic interest rates are low, while the Shanghai Composite Index is high, indicating a potential downward adjustment in the index next week[1] - The predicted ten-year government bond yield for the week of August 8, 2025, is expected to rise, while the Shanghai Composite Index is anticipated to decline[1] - The predicted ten-year government bond yield is 2.34%, compared to the actual value of 1.72%, indicating a significant deviation[19] Price Tracking - Food prices increased by approximately 0.5% month-on-month in July, while non-food prices decreased by about 0.5%, leading to an overall CPI increase of around 0.5%[2] - The Producer Price Index (PPI) is expected to show a month-on-month increase of about 0.1% in July, with a year-on-year recovery to -3.3%[2]