Group 1 - The top 20 stocks with significant capital inflow as of February 6 include Wuzhou Xinchun (1.12 billion), Tianji Co. (1 billion), and Data Port (973 million) [1] - Wuzhou Xinchun saw a price increase of 10.01%, while Tianji Co. and Data Port both increased by 9.99% and 10% respectively [2] - Other notable stocks include Hunan Gold (10% increase, 793 million), and Shennan Circuit (10% increase, 701 million) [2][3] Group 2 - The electronics sector is represented by companies like Shennan Circuit, Shanshan Co., and Shenghong Technology, with inflows of 701 million, 689 million, and 633 million respectively [2][3] - The battery industry includes significant players such as Ningde Times (2.54% increase, 625 million) and Enjie Co. (10% increase, 496 million) [2][3] - Chemical products sector features companies like Yongtai Technology (10.02% increase, 477 million) and Duofluor (7.7% increase, 451 million) [3]

从沪股通前十大成交个股来看，贵州茅台位居首位；紫金矿业和工业富联分居二、三位。 从深股通前十大成交个股来看，天孚通信位居首位；中际旭创和宁德时代分居二、三位。 二、板块个股主力大单资金 从板块表现来看，影视院线、旅游酒店、银行等板块涨幅居前，有色金属、电网设备、油气等板块跌幅居前。 | | | 星矿 权庆士力资金监控： 今日头人 | | | --- | --- | --- | --- | | 排名 | 板块名称 | 主力资金净流入(亿元) | 主力资金净流入率(%) | | | 食品饮料行业 | 15.79 | 2.80 | | 1 - | 影视院线 | 12.34 | 6.99 | | 3 | 银行 | 10.70 | 2.83 | | 4 | 商贸零售 | 8.09 | 2.19 | | 5 | 证券 | 6.81 | 2.01 | 一、沪深股通前十大成交 今日沪股通总成交金额为1420.94亿，深股通总成交金额为1468.44亿。 | | 沪股道( | 2月5日 D | | | --- | --- | --- | --- | | 排名 | 股票代码 | 股票名称 | 成交金额(亿元) | | 1 | 6 ...

Core Insights - The main focus of the news is on the significant inflow of capital into various stocks, highlighting the top 20 stocks by capital inflow as of February 5, with notable performances in terms of percentage increase and monetary value [1][2][3] Group 1: Top Stocks by Capital Inflow - Pingtan Development leads with a capital inflow of 1.278 billion, showing a price increase of 10.05% [2] - Wangsu Science & Technology follows with an inflow of 0.682 billion and a price increase of 7.48% [2] - N North Core U has an inflow of 0.666 billion, with a remarkable price increase of 183.33% [2] - Haixia Innovation shows a strong performance with a capital inflow of 0.642 billion and a price increase of 20% [2] - Other notable stocks include 263 with 0.566 billion inflow and a 10.04% increase, and China Merchants Bank with 0.554 billion and a 1.79% increase [2] Group 2: Sector Performance - The stocks listed are from various sectors, including agriculture, internet services, consumer electronics, and cultural media, indicating diverse investment interests [2][3] - The electronic components sector is represented by Fenghua High-Tech with a capital inflow of 0.401 billion and a price increase of 9.99% [3] - Aerospace is represented by Beimo High-Tech, which has a capital inflow of 0.312 billion and a price increase of 10% [3]

Group 1 - The top 20 stocks with significant capital inflow as of February 5 include Pingtan Development (1.214 billion), Wangsu Technology (648 million), and Guizhou Moutai (555 million) [1][2] - Pingtan Development saw a price increase of 10.05%, while Wangsu Technology increased by 6.94% [2] - Other notable stocks with capital inflow include China Merchants Bank (520 million, +2.03%), and Industrial Fulian (455 million, +0.99%) [2][3] Group 2 - The sectors represented among the top inflow stocks include agriculture, internet services, and food and beverage [2][3] - Companies like Haidilao (2.92 billion) and Wuxi AppTec (2.44 billion) are also highlighted for their capital inflow and respective sector performance [3] - The overall trend indicates a strong interest in technology and consumer goods sectors, as reflected in the stock performance and capital movement [1][2]

Core Viewpoint - The cloud computing industry is experiencing a reversal of the long-standing trend of price reductions, with major players like Amazon Web Services and Google Cloud announcing price increases of up to 100%, indicating that computing infrastructure has become a scarce strategic resource [1] Group 1: Industry Trends - The cloud computing infrastructure sector is entering a new development phase, as evidenced by the strong performance of listed companies in the A-share market, with significant profit growth forecasts for 2025 [1] - The demand for data centers, servers, and cooling equipment is driving a new cycle of value reassessment in the cloud computing infrastructure industry [1] - The rapid growth of the AI industry is leading to an explosion in intelligent computing demand, which is directly driving the expansion and performance upgrades of data centers [4] Group 2: Company Performance - Runze Technology expects a net profit of CNY 5 billion to 5.3 billion for 2025, representing a year-on-year increase of 179.28% to 196.03% [4] - Industrial Fulian anticipates a net profit of CNY 35.1 billion to 35.7 billion for 2025, an increase of 51% to 54% year-on-year [6] - The AI server business of Industrial Fulian is expected to see revenue growth of over 300% in 2025, with significant quarterly growth rates [7] Group 3: Supporting Industries - Companies in the supporting equipment sector, such as cooling systems and server components, are also expected to see strong growth in 2025 due to the booming demand in the data center market [10] - Shunling Environment forecasts a net profit of CNY 205 million to 246 million for 2025, reflecting a year-on-year increase of 77.39% to 112.87% [11] - Highlan Co. anticipates a net profit increase of 146.7% to 160.61% for 2025, indicating a recovery in profitability driven by the demand for cooling products [12] Group 4: Market Outlook - The global data center equipment market is projected to grow by 25% to 30% in 2025, with total operational capacity expected to increase by nearly 25% year-on-year [8] - The cooling equipment market is expected to grow at a compound annual growth rate of around 20% until 2030, with liquid cooling technology experiencing a growth rate of 45% [13]

Core Viewpoint - The cloud computing industry is experiencing a reversal of the long-standing price decline, with major players like Amazon Web Services and Google Cloud announcing price increases of up to 100%, indicating that computing infrastructure has become a scarce strategic resource [1][4]. Group 1: Industry Trends - The cloud computing infrastructure sector is entering a new development phase, as evidenced by the strong performance of A-share listed companies related to cloud computing, with significant profit growth expected for 2025 [1][4]. - The demand for data centers and related infrastructure is driven by the rapid growth of AI applications, leading to an expansion in data center scale and performance upgrades [4][10]. - The global data center equipment market is projected to grow by 25% to 30% in 2025, with total global data center capacity expected to increase by nearly 25% by 2026 [8]. Group 2: Company Performance - Runze Technology anticipates a net profit of CNY 5 billion to 5.3 billion for 2025, representing a year-on-year increase of 179.28% to 196.03% [4][6]. - Industrial Fulian expects a net profit of CNY 35.1 billion to 35.7 billion for 2025, a year-on-year increase of 51% to 54%, driven by strong demand for AI servers [7][8]. - Shunling Environment forecasts a net profit of CNY 205 million to 246 million for 2025, reflecting a growth of 77.39% to 112.87% [10][12]. Group 3: Supporting Industries - The demand for cooling systems and server components is increasing due to the rapid growth of the AI industry, with companies in these sectors also reporting significant profit increases [10][12]. - The liquid cooling technology market is expected to grow at a compound annual growth rate of 45% due to the rising power consumption of AI chips, making it a necessary solution for high-density cabinets [12].

登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 晨会聚焦 分析师：张刚 资料来源：Wind,中原证券 -8% -1% 6% 14% 21% 28% 35% 42% 2025.02 2025.06 2025.10 2026.02 上证指数 深证成指 | 国内市场表现 | | | | | --- | --- | --- | --- | | 指数名称 | | 昨日收盘价 | 涨跌幅(%) | | 上证指数 | | 4,102.20 | 0.85 | | 深证成指 | | 14,156.27 | 0.21 | | 创业板指 | | 2,022.77 | -0.47 | | 沪深 | 300 | 4,698.68 | 0.83 | | 上证 | 50 | 2,443.97 | -0.52 | | 科创 | 50 | 891.46 | 0.14 | | 创业板 | 50 | 1,924.26 | -0.67 | | 中证 | 100 | 4,591.65 | 0.86 | | 中证 | 500 | 8,299.06 | 0.15 | | 中证 | 1000 | 6 ...

● 本报记者 万宇 *ST松发预计2025年实现净利润24亿元-27亿元，扭亏为盈。2025年四季度，多家基金公司旗下产品增持 *ST松发或新进机构投资者名单。其中，谢书英管理的兴全合瑞在2025年四季度增持*ST松发，华夏基 金、工银瑞信基金等公司旗下产品新进该股机构投资者名单。不过，也有基金公司减持*ST松发，如博 时基金旗下产品在2025年四季度合计减持该股738.71万股。 通化东宝预计2025年实现净利润12.42亿元，也实现扭亏为盈。2025年四季度，7家基金公司旗下产品新 进通化东宝机构投资者名单。 宏和科技预计2025年实现净利润1.93亿元-2.26亿元，同比增长745%-889%。2025年四季度，6家基金公 司旗下产品新进宏和科技机构投资者名单。 佰维存储预计2025年实现净利润8.5亿元-10亿元，同比增长427.19%-520.22%。截至2025年底，共有40 家基金公司旗下产品持有佰维存储，多只产品在2025年四季度增持佰维存储。其中，兴证全球基金、永 赢基金、华商基金旗下产品当季增持佰维存储均超100万股，广发基金、汇添富基金旗下产品在2025年 四季度新进佰维存储的机构投资者 ...

Core Insights - Over 2900 A-share listed companies have released their 2025 earnings forecasts, with high-performing companies attracting significant interest from fund institutions [1][2] - Notable companies with substantial profit growth include Zijin Mining, which is expected to achieve a net profit of 510-520 billion yuan, and Industrial Fulian, projected to reach 351-357 billion yuan [2][3] Company Performance - Zijin Mining is expected to see a net profit increase of 59%-62% in 2025, with 78 fund companies holding its shares, including well-known fund managers [2] - Industrial Fulian anticipates a net profit growth of 51%-54%, with 96 fund companies holding its shares, primarily managed by E Fund [3] - *ST Songfa is projected to turn a profit with a net profit of 24-27 billion yuan, attracting new institutional investors in Q4 2025 [4] - Tonghua Dongbao expects a net profit of 12.42 billion yuan, also turning a profit, with new institutional investors entering in Q4 2025 [4] - Honghe Technology forecasts a net profit of 1.93-2.26 billion yuan, showing a significant growth of 745%-889%, with new institutional investors in Q4 2025 [4] - Baiwei Storage anticipates a net profit of 8.5-10 billion yuan, with 40 fund companies holding its shares and several increasing their positions in Q4 2025 [5] Market Outlook - The release of earnings forecasts and annual reports is expected to lead to a focus on companies' performance, with a potential for market stabilization and upward movement [6] - Fund institutions suggest that the market may return to a structure driven by "profit certainty + industry trends," with opportunities in core technology and manufacturing sectors [6] - External factors may create short-term pressure, but domestic policy support and a stable capital market are expected to mitigate significant downturns [7] - Investment strategies are recommended to focus on growth sectors like AI and semiconductors, as well as areas benefiting from "anti-involution" policies, such as new energy [7]

Group 1 - Industrial Fulian's stock price dropped by 5.09% to 52.91 yuan per share, with a trading volume of 6.948 billion yuan and a turnover rate of 0.65%, resulting in a total market capitalization of 1050.697 billion yuan [1] - The company, founded on March 6, 2015, and listed on June 8, 2018, is based in Longhua District, Shenzhen, Guangdong Province, and specializes in the design, research and development, manufacturing, and sales of various electronic devices, primarily focusing on smart manufacturing and technology services for global clients [1] - The main business revenue composition is 99.85% from 3C electronic products and 0.15% from other supplementary sources [1] Group 2 - Shan Zheng Asset Management has one fund heavily invested in Industrial Fulian, specifically the Shan Zheng Asset Management Strategy Selected Mixed A (003659), which increased its holdings by 32,500 shares in the fourth quarter, totaling 102,500 shares, representing 6.64% of the fund's net value, making it the fourth-largest holding [2] - The fund has a current scale of 56.0056 million yuan, with a year-to-date return of 4.74%, ranking 3947 out of 8873 in its category, and a one-year return of 73.56%, ranking 622 out of 8119 [2] - Since its inception, the fund has achieved a return of 96.4% [2] Group 3 - The fund manager of Shan Zheng Asset Management Strategy Selected Mixed A is Du Gu Nan Xun, who has been in the position for 9 years and 306 days, managing a total asset scale of 120 million yuan [3] - During the manager's tenure, the best fund return was 72.78%, while the worst return was -7.03% [3]