481 lines
32 KiB
HTML
481 lines
32 KiB
HTML
<!DOCTYPE html>
|
||
<html lang="zh-CN" data-theme="night">
|
||
<head>
|
||
<meta charset="UTF-8">
|
||
<meta name="viewport" content="width=device-width, initial-scale=1.0">
|
||
<title>化债概念 - 深度研究报告</title>
|
||
<script src="https://cdn.tailwindcss.com"></script>
|
||
<link href="https://cdn.jsdelivr.net/npm/daisyui@4.10.1/dist/full.min.css" rel="stylesheet" type="text/css" />
|
||
<script defer src="https://cdn.jsdelivr.net/npm/alpinejs@3.x.x/dist/cdn.min.js"></script>
|
||
<script src="https://cdn.jsdelivr.net/npm/echarts@5.5.0/dist/echarts.min.js"></script>
|
||
<style>
|
||
@import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&family=Orbitron:wght@400;700&display=swap');
|
||
|
||
body {
|
||
font-family: 'Noto Sans SC', sans-serif;
|
||
background-color: #000010;
|
||
background-image:
|
||
radial-gradient(circle at 15% 20%, rgba(0, 150, 255, 0.15), transparent 40%),
|
||
radial-gradient(circle at 85% 80%, rgba(190, 0, 255, 0.15), transparent 40%),
|
||
radial-gradient(circle at 50% 50%, rgba(255, 255, 255, 0.03), transparent 30%);
|
||
background-attachment: fixed;
|
||
color: #E0E0E0;
|
||
}
|
||
|
||
.glass-card {
|
||
background: rgba(10, 10, 25, 0.4);
|
||
backdrop-filter: blur(20px);
|
||
-webkit-backdrop-filter: blur(20px);
|
||
border: 1px solid rgba(255, 255, 255, 0.1);
|
||
border-radius: 24px;
|
||
box-shadow: 0 8px 32px 0 rgba(0, 200, 255, 0.1);
|
||
}
|
||
|
||
.fui-title {
|
||
font-family: 'Orbitron', sans-serif;
|
||
text-shadow: 0 0 8px rgba(0, 200, 255, 0.8), 0 0 16px rgba(0, 200, 255, 0.5);
|
||
color: #E0FFFF;
|
||
}
|
||
|
||
.neon-text {
|
||
color: #93c5fd; /* light blue */
|
||
text-shadow: 0 0 5px #60a5fa, 0 0 10px #3b82f6;
|
||
}
|
||
|
||
.highlight-text {
|
||
color: #f87171; /* light red */
|
||
}
|
||
|
||
.bento-grid {
|
||
display: grid;
|
||
gap: 1.5rem;
|
||
grid-template-columns: repeat(12, 1fr);
|
||
}
|
||
|
||
.bento-item {
|
||
grid-column: span 12;
|
||
}
|
||
|
||
@media (min-width: 1024px) {
|
||
.bento-item-span-4 { grid-column: span 4; }
|
||
.bento-item-span-5 { grid-column: span 5; }
|
||
.bento-item-span-6 { grid-column: span 6; }
|
||
.bento-item-span-7 { grid-column: span 7; }
|
||
.bento-item-span-8 { grid-column: span 8; }
|
||
.bento-item-span-12 { grid-column: span 12; }
|
||
}
|
||
|
||
.table thead th {
|
||
color: #c7d2fe;
|
||
background-color: rgba(30, 41, 59, 0.5);
|
||
border-bottom: 1px solid rgba(148, 163, 184, 0.3);
|
||
}
|
||
|
||
.table tbody tr {
|
||
background-color: rgba(15, 23, 42, 0.3);
|
||
transition: all 0.3s ease;
|
||
}
|
||
|
||
.table tbody tr:hover {
|
||
background-color: rgba(30, 41, 59, 0.7);
|
||
transform: scale(1.01);
|
||
box-shadow: 0 0 20px rgba(59, 130, 246, 0.3);
|
||
}
|
||
|
||
.tab-active {
|
||
color: #93c5fd;
|
||
border-color: #93c5fd !important;
|
||
box-shadow: 0 2px 10px -2px #93c5fd;
|
||
}
|
||
|
||
h3 {
|
||
border-left: 3px solid #60a5fa;
|
||
padding-left: 12px;
|
||
color: #d1d5db;
|
||
}
|
||
</style>
|
||
</head>
|
||
<body class="min-h-screen p-4 sm:p-8">
|
||
|
||
<div class="container mx-auto max-w-7xl">
|
||
<header class="text-center mb-12">
|
||
<h1 class="text-4xl md:text-6xl font-bold fui-title tracking-widest">化债概念</h1>
|
||
<h2 class="text-xl md:text-2xl text-blue-300 mt-2">深度研究报告</h2>
|
||
<p class="text-xs text-gray-500 mt-4 tracking-wider">北京价值前沿科技有限公司 AI投研agent：“价小前投研” 进行投研呈现，本报告为AI合成数据，投资需谨慎。</p>
|
||
</header>
|
||
|
||
<main class="space-y-6">
|
||
|
||
<!-- Insight 核心观点 -->
|
||
<section class="glass-card p-6 md:p-8 bento-item bento-item-span-12">
|
||
<h2 class="text-2xl font-bold mb-4 neon-text">核心观点摘要</h2>
|
||
<p class="text-gray-300 leading-relaxed">
|
||
“化债概念”是当前宏观经济背景下由顶层设计驱动的核心主题，已从政策预期阶段迈入实质性落地阶段。其核心驱动力在于通过<strong class="text-blue-300 font-semibold">“以时间换空间”</strong>的债务置换，化解地方政府隐性债务这一系统性风险点。未来潜力不仅在于短期修复相关企业资产负-债表，更在于为地方财政腾挪空间，从而稳定经济增长预期。但<strong class="text-red-400 font-semibold">政策执行的力度、速度及覆盖范围</strong>是决定其成败的关键变量。
|
||
</p>
|
||
</section>
|
||
|
||
<!-- Bento Grid -->
|
||
<div class="bento-grid">
|
||
|
||
<!-- 概念事件 -->
|
||
<section class="glass-card p-6 bento-item lg:bento-item-span-7">
|
||
<h2 class="text-2xl font-bold mb-4 neon-text">概念事件与发展脉络</h2>
|
||
<ul class="timeline timeline-compact timeline-vertical">
|
||
<li>
|
||
<div class="timeline-start timeline-box bg-slate-800/50 border-slate-700">
|
||
<time class="font-mono italic text-blue-400">2015-2022</time>
|
||
<div class="text-lg font-black text-slate-300">前期铺垫</div>
|
||
历经三轮化债，包括12.2万亿置换债、建制县试点及特殊再融资债试点，为本轮政策奠定基础。
|
||
</div>
|
||
<hr class="bg-blue-400"/>
|
||
</li>
|
||
<li>
|
||
<hr class="bg-blue-400"/>
|
||
<div class="timeline-end timeline-box bg-slate-800/50 border-slate-700">
|
||
<time class="font-mono italic text-blue-400">2023</time>
|
||
<div class="text-lg font-black text-slate-300">第四轮序幕</div>
|
||
发行约1.38万亿特殊再融资债，拉开第四轮大规模化债序幕，市场关注度急剧升温。
|
||
</div>
|
||
<hr class="bg-blue-400"/>
|
||
</li>
|
||
<li>
|
||
<hr class="bg-blue-400"/>
|
||
<div class="timeline-start timeline-box bg-slate-800/50 border-slate-700">
|
||
<time class="font-mono italic text-blue-400">2024.11</time>
|
||
<div class="text-lg font-black text-slate-300">“6+4+2”方案公布</div>
|
||
十四届全国人大常委会批准一揽子化债方案，总规模超10万亿元，被誉为“近年来支持力度最大的化债措施”。
|
||
</div>
|
||
<hr class="bg-blue-400"/>
|
||
</li>
|
||
<li>
|
||
<hr class="bg-blue-400"/>
|
||
<div class="timeline-end timeline-box bg-slate-800/50 border-slate-700">
|
||
<time class="font-mono italic text-blue-400">至今</time>
|
||
<div class="text-lg font-black text-slate-300">全面落地与市场反应</div>
|
||
多地发行置换债，省级方案（如广西柳州）出台。A股相关概念股表现活跃，市场进入政策兑现期。
|
||
</div>
|
||
</li>
|
||
</ul>
|
||
</section>
|
||
|
||
<!-- 化债规模与方案构成 -->
|
||
<section class="glass-card p-6 bento-item lg:bento-item-span-5 flex flex-col">
|
||
<h2 class="text-2xl font-bold mb-4 neon-text">“6+4+2”方案构成 (万亿元)</h2>
|
||
<div id="echarts-scale" class="flex-grow min-h-[300px]"></div>
|
||
</section>
|
||
|
||
<!-- 核心逻辑与市场认知 -->
|
||
<section class="glass-card p-6 md:p-8 bento-item bento-item-span-12">
|
||
<h2 class="text-2xl font-bold mb-4 neon-text">核心逻辑与市场认知分析</h2>
|
||
<div class="space-y-6">
|
||
<div>
|
||
<h3 class="text-xl font-semibold mb-2">核心驱动力：唯一的政策驱动</h3>
|
||
<p class="text-gray-300 leading-relaxed">通过中央信用背书，将地方的<strong class="text-red-400">高成本(6-7%)、短期限</strong>的隐性债务，置换为<strong class="text-green-400">低成本( <3%)、长期限(10-30年)</strong>的显性政府债券。首要目标是防范系统性风险，次要目标是为地方发展腾挪财政空间，实现“在发展中化债”。</p>
|
||
</div>
|
||
<div>
|
||
<h3 class="text-xl font-semibold mb-2">市场热度与情绪：乐观伴随分歧</h3>
|
||
<p class="text-gray-300 leading-relaxed">A股市场对超10万亿规模抱有强烈乐观预期，相关概念股活跃。但亦存在结构性分歧，如部分观点认为其本质是<strong class="text-yellow-400">“债务转移”</strong>而非消失，以及A股热捧与港股AMC标的大跌的鲜明对比，反映了不同市场对盈利模式和资产质量的差异化解读。</p>
|
||
</div>
|
||
<div>
|
||
<h3 class="text-xl font-semibold mb-2 text-red-400">关键预期差分析 (风险点)</h3>
|
||
<ul class="list-disc list-inside space-y-2 text-gray-300">
|
||
<li><strong>范围混淆：</strong>市场可能误以为化解所有城投债务。然而，本轮方案主要针对<strong class="font-bold text-amber-300">【隐性债务】</strong>，不包含<strong class="font-bold text-amber-300">【经营性债务】</strong>。城投平台信用分化将加剧，而非普惠。</li>
|
||
<li><strong>效果时效：</strong>市场短期炒作可能过度，但方案是分<strong class="font-bold">三年</strong>实施的渐进过程。且化债短期内可能<strong class="font-bold">拖累基建投资增速</strong>，与市场普遍认知存在预期差。</li>
|
||
<li><strong>受益程度：</strong>并非所有相关公司都直接受益。实际效果取决于其应收账款中“隐性债务”的真实占比，需要仔细甄别。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- 产业链与催化剂 -->
|
||
<div class="bento-grid bento-item bento-item-span-12">
|
||
<section class="glass-card p-6 bento-item lg:bento-item-span-8">
|
||
<h2 class="text-2xl font-bold mb-4 neon-text">产业链与核心受益方</h2>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4 text-center">
|
||
<div class="p-4 bg-slate-800/50 rounded-xl border border-slate-700">
|
||
<h4 class="font-bold text-blue-300 text-lg">上游：资金与政策</h4>
|
||
<p class="text-sm text-gray-400">中央政府、财政部、政策性银行、国有大行、债券市场投资者</p>
|
||
</div>
|
||
<div class="p-4 bg-slate-800/50 rounded-xl border border-slate-700">
|
||
<h4 class="font-bold text-blue-300 text-lg">中游：处置与服务</h4>
|
||
<p class="text-sm text-gray-400">资产管理公司(AMC)、财政/政务IT服务商</p>
|
||
</div>
|
||
<div class="p-4 bg-slate-800/50 rounded-xl border border-slate-700">
|
||
<h4 class="font-bold text-blue-300 text-lg">下游：直接/间接受益</h4>
|
||
<p class="text-sm text-gray-400">城投平台、环保/PPP、建筑工程、金融机构、房地产</p>
|
||
</div>
|
||
</div>
|
||
<div x-data="{ tab: 'direct' }" class="mt-6">
|
||
<div class="tabs tabs-bordered">
|
||
<a class="tab" :class="{ 'tab-active': tab === 'direct' }" @click="tab = 'direct'">直接受益方 (应收账款回款)</a>
|
||
<a class="tab" :class="{ 'tab-active': tab === 'amc' }" @click="tab = 'amc'">核心参与方 (AMC)</a>
|
||
<a class="tab" :class="{ 'tab-active': tab === 'others' }" @click="tab = 'others'">其他受益方</a>
|
||
</div>
|
||
<div class="p-4 mt-2 bg-slate-900/30 rounded-lg">
|
||
<div x-show="tab === 'direct'">
|
||
<p class="font-semibold text-gray-200">核心逻辑：政府欠款回收，现金流和资产负债表修复。</p>
|
||
<p class="text-sm text-gray-400 mt-2">
|
||
<strong class="text-sky-300">环保/PPP：</strong>碧水源、蒙草生态、东方园林、瀚蓝环境 (已公告收到24亿回款)。<br>
|
||
<strong class="text-sky-300">建筑工程：</strong>中国铁建、中国建筑、上海建工 (应收款占比较高，回款弹性大)。<br>
|
||
<strong class="text-sky-300">财政/政务IT：</strong>中科江南、博思软件 (受益于债务监管系统建设长期需求)。
|
||
</p>
|
||
</div>
|
||
<div x-show="tab === 'amc'" style="display:none;">
|
||
<p class="font-semibold text-gray-200">核心逻辑：作为债务处置的执行者，业务量有望随化债进程放量。</p>
|
||
<p class="text-sm text-gray-400 mt-2">
|
||
<strong class="text-sky-300">国家队：</strong>信达地产 (信达系)、银宝山新 (东方资产系)。<br>
|
||
<strong class="text-sky-300">地方队龙头：</strong>海德股份 (唯一AMC上市企业)、浙江东方 (浙江AMC)。
|
||
</p>
|
||
</div>
|
||
<div x-show="tab === 'others'" style="display:none;">
|
||
<p class="font-semibold text-gray-200">核心逻辑：风险缓释或困境反转。</p>
|
||
<p class="text-sm text-gray-400 mt-2">
|
||
<strong class="text-sky-300">城投平台：</strong>云南城投、城投控股 (债务重灾区，若重组成功弹性巨大)。<br>
|
||
<strong class="text-sky-300">房地产：</strong>华夏幸福、荣盛发展 (受益于整体风险偏好提升和困境反转逻辑)。<br>
|
||
<strong class="text-sky-300">金融机构：</strong>银行 (资产质量提升，信用成本下降)。
|
||
</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
<section class="glass-card p-6 bento-item lg:bento-item-span-4">
|
||
<h2 class="text-2xl font-bold mb-4 neon-text">关键催化剂</h2>
|
||
<ul class="space-y-3 text-gray-300">
|
||
<li class="flex items-start">
|
||
<svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 text-blue-400 flex-shrink-0 mt-1" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" /></svg>
|
||
<span><strong class="text-white">地方方案出台：</strong>高负债省份(如云、贵)的具体化债方案。</span>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 text-blue-400 flex-shrink-0 mt-1" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" /></svg>
|
||
<span><strong class="text-white">债券发行节奏：</strong>特殊再融资债的月度发行规模和速度。</span>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 text-blue-400 flex-shrink-0 mt-1" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" /></svg>
|
||
<span><strong class="text-white">财报验证：</strong>上市公司财报中“经营性现金流”和“应收账款”科目的显著改善。</span>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 text-blue-400 flex-shrink-0 mt-1" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" /></svg>
|
||
<span><strong class="text-white">清欠细则落地：</strong>“专项债用于消化企业拖欠款”的具体政策细则。</span>
|
||
</li>
|
||
</ul>
|
||
</section>
|
||
</div>
|
||
|
||
<!-- 投资启示与风险 -->
|
||
<section class="glass-card p-6 bento-item lg:bento-item-span-6">
|
||
<h2 class="text-2xl font-bold mb-4 neon-text">综合结论与投资启示</h2>
|
||
<p class="mb-4 text-gray-300">化债概念已进入<strong class="text-green-300">基本面驱动阶段</strong>，未来2-3年将是确定性较高的宏观主线。投资机会将从普涨的β行情，逐步分化为考验投研深度的α行情。</p>
|
||
<h3 class="text-xl font-semibold mb-2">最具投资价值的细分环节：</h3>
|
||
<ol class="list-decimal list-inside space-y-2 text-gray-300">
|
||
<li><strong>应收账款回款 (确定性最高):</strong> 聚焦环保、建筑等行业中应收账款占比高、质地优良的国企龙头。</li>
|
||
<li><strong>地方AMC (弹性与成长性兼备):</strong> 业务量爆发期，关注区域垄断地位的上市公司。</li>
|
||
<li><strong>困境反转的高负债区域龙头 (高风险高收益):</strong> 关注云、贵等省份核心平台，博弈债务重组突破。</li>
|
||
</ol>
|
||
</section>
|
||
<section class="glass-card p-6 bento-item lg:bento-item-span-6">
|
||
<h2 class="text-2xl font-bold mb-4 text-red-500">潜在风险与挑战</h2>
|
||
<ul class="space-y-3 text-gray-300">
|
||
<li class="flex items-start">
|
||
<svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 text-red-400 flex-shrink-0 mt-1" viewBox="0 0 20 20" fill="currentColor"><path fill-rule="evenodd" d="M8.257 3.099c.765-1.36 2.722-1.36 3.486 0l5.58 9.92c.75 1.334-.21 3.03-1.742 3.03H4.42c-1.532 0-2.492-1.696-1.742-3.03l5.58-9.92zM10 13a1 1 0 110-2 1 1 0 010 2zm-1-8a1 1 0 00-1 1v3a1 1 0 002 0V6a1 1 0 00-1-1z" clip-rule="evenodd" /></svg>
|
||
<span><strong class="text-white">执行风险 (最核心):</strong> 政策落地进度、效果不及预期，地方资产盘活难度高。</span>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 text-red-400 flex-shrink-0 mt-1" viewBox="0 0 20 20" fill="currentColor"><path fill-rule="evenodd" d="M8.257 3.099c.765-1.36 2.722-1.36 3.486 0l5.58 9.92c.75 1.334-.21 3.03-1.742 3.03H4.42c-1.532 0-2.492-1.696-1.742-3.03l5.58-9.92zM10 13a1 1 0 110-2 1 1 0 010 2zm-1-8a1 1 0 00-1 1v3a1 1 0 002 0V6a1 1 0 00-1-1z" clip-rule="evenodd" /></svg>
|
||
<span><strong class="text-white">经济拖累风险:</strong> 短期内财政和信贷收缩，可能对基建和GDP增速造成拖累。</span>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 text-red-400 flex-shrink-0 mt-1" viewBox="0 0 20 20" fill="currentColor"><path fill-rule="evenodd" d="M8.257 3.099c.765-1.36 2.722-1.36 3.486 0l5.58 9.92c.75 1.334-.21 3.03-1.742 3.03H4.42c-1.532 0-2.492-1.696-1.742-3.03l5.58-9.92zM10 13a1 1 0 110-2 1 1 0 010 2zm-1-8a1 1 0 00-1 1v3a1 1 0 002 0V6a1 1 0 00-1-1z" clip-rule="evenodd" /></svg>
|
||
<span><strong class="text-white">信用分化风险:</strong> 未被纳入化债范围的经营性债务和资质差的城投平台，再融资压力和信用风险可能加剧。</span>
|
||
</li>
|
||
</ul>
|
||
</section>
|
||
</div>
|
||
|
||
<!-- 股票列表 -->
|
||
<section class="glass-card p-6 md:p-8 bento-item bento-item-span-12">
|
||
<h2 class="text-2xl font-bold mb-6 neon-text">相关概念股票池</h2>
|
||
<div class="overflow-x-auto">
|
||
<table class="table table-zebra w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>核心逻辑</th>
|
||
<th>标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody id="stock-table-main">
|
||
<!-- JS will populate this -->
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- 涨幅分析 -->
|
||
<section class="glass-card p-6 md:p-8 bento-item bento-item-span-12">
|
||
<h2 class="text-2xl font-bold mb-6 neon-text">涨停驱动分析（案例补充）</h2>
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>涨幅</th>
|
||
<th>日期</th>
|
||
<th>核心驱动逻辑解析</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody id="stock-table-rise">
|
||
<!-- JS will populate this -->
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</section>
|
||
|
||
</main>
|
||
</div>
|
||
|
||
<script>
|
||
// ECharts Initialization
|
||
var chartDom = document.getElementById('echarts-scale');
|
||
var myChart = echarts.init(chartDom, 'dark');
|
||
var option;
|
||
|
||
option = {
|
||
backgroundColor: 'transparent',
|
||
tooltip: {
|
||
trigger: 'item',
|
||
formatter: '{b} <br/> {c}万亿元 ({d}%)',
|
||
backgroundColor: 'rgba(20, 20, 40, 0.8)',
|
||
borderColor: '#3b82f6',
|
||
textStyle: {
|
||
color: '#e5e7eb'
|
||
}
|
||
},
|
||
legend: {
|
||
orient: 'vertical',
|
||
left: 'left',
|
||
top: 'center',
|
||
textStyle: {
|
||
color: '#d1d5db'
|
||
},
|
||
icon: 'circle'
|
||
},
|
||
series: [
|
||
{
|
||
name: '化债方案构成',
|
||
type: 'pie',
|
||
radius: ['45%', '75%'],
|
||
center: ['65%', '50%'],
|
||
avoidLabelOverlap: false,
|
||
itemStyle: {
|
||
borderRadius: 10,
|
||
borderColor: 'rgba(0, 0, 20, 0.8)',
|
||
borderWidth: 4
|
||
},
|
||
label: {
|
||
show: true,
|
||
position: 'inside',
|
||
formatter: '{c}万亿',
|
||
color: '#000',
|
||
fontWeight: 'bold',
|
||
fontSize: 14
|
||
},
|
||
emphasis: {
|
||
label: {
|
||
show: true,
|
||
fontSize: 18,
|
||
fontWeight: 'bold'
|
||
}
|
||
},
|
||
labelLine: {
|
||
show: false
|
||
},
|
||
data: [
|
||
{ value: 6, name: '6万亿置换额度' },
|
||
{ value: 4, name: '4万亿专项债补充' },
|
||
{ value: 2, name: '2万亿棚改隐债安排' }
|
||
],
|
||
color: ['#3b82f6', '#8b5cf6', '#14b8a6']
|
||
}
|
||
]
|
||
};
|
||
myChart.setOption(option);
|
||
window.addEventListener('resize', myChart.resize);
|
||
|
||
// Stock Data Population
|
||
const stockData = {
|
||
"化债概念(241013)": [
|
||
{"stock": "信达地产","reason": "控股股东信达投资，国有四大AMC之一","其他标签": "国有四大","stock_code": "600657"},
|
||
{"stock": "银宝山新","reason": "实控人东方资产，国有四大AMC之一","其他标签": "国有四大","stock_code": "002786"},
|
||
{"stock": "东兴证券","reason": "控股股东东方资产，四大国有金融资产管理公司之一","其他标签": "国有四大","stock_code": "601198"},
|
||
{"stock": "*ST景峰","reason": "第二大股东是长城资产，国有四大AMC之一","其他标签": "国有四大","stock_code": "000908"},
|
||
{"stock": "海德股份","reason": "新疆AMC，唯一AMC上市企业","其他标签": "地方","stock_code": "000567"},
|
||
{"stock": "浙江东方","reason": "浙江AMC，子公司浙商投资唯一浙江持牌","其他标签": "地方","stock_code": "600120"},
|
||
{"stock": "陕国投A","reason": "陕西AMC，持有陕西金融资产管理6.65%股权","其他标签": "地方", "stock_code": "000563"},
|
||
{"stock": "中原证券","reason": "河南AMC，共同发起成立河南资产","其他标签": "地方","stock_code": "601375"},
|
||
{"stock": "蒙草生态","reason": "内蒙AMC，持股内蒙庆源绿色金融资产管理公司17%股份","其他标签": "地方, 环保PPP","stock_code": "300355"},
|
||
{"stock": "越秀资本","reason": "广州资产系越秀金控与广东民营投资等共同发起设立","其他标签": "地方","stock_code": "000987"},
|
||
{"stock": "新力金融","reason": "设立安徽省第二家地方资产管理公司","其他标签": "地方","stock_code": "600318"},
|
||
{"stock": "泰达股份","reason": "持有天津津融投资服务集团股权，天津拥有AMC牌照的公司","其他标签": "地方","stock_code": "000652"},
|
||
{"stock": "海南高速","reason": "持有海南联合资产管理有限公司46.4364%股权","其他标签": "地方","stock_code": "000886"},
|
||
{"stock": "云南城投","reason": "云南国资委控股唯一上市城投平台","其他标签": "城投","stock_code": "600239"},
|
||
{"stock": "津投城开","reason": "天津国资委控股，天津唯一上市城投平台","其他标签": "城投","stock_code": "600322"},
|
||
{"stock": "城投控股","reason": "上海城投集团控股，上海唯一上市城投平台","其他标签": "城投","stock_code": "600649"},
|
||
{"stock": "合肥城建","reason": "合肥国资委控股，合肥唯一上市城投平台","其他标签": "城投","stock_code": "002208"},
|
||
{"stock": "碧水源","reason": "环保水处理龙头，PPP项目多，应收账款回款预期强","其他标签": "环保PPP","stock_code": "300070"},
|
||
{"stock": "聚光科技","reason": "环境监测设备龙头，受益于环保投资和政府清欠","其他标签": "环保PPP","stock_code": "300203"}
|
||
]
|
||
};
|
||
|
||
const riseAnalysisData = [
|
||
{"stock": "柳钢股份","stock_code": "601003","rise_rate": 10.05,"trade_date": "2025-07-18","reason": "<strong>核心结论:</strong> 中报业绩暴增530%叠加广西4000亿元化债方案与钢铁行业限产30%政策共振，资金抢筹周期拐点。<br><strong>驱动概念:</strong> 化债+限产+业绩暴增"},
|
||
{"stock": "中锐股份","stock_code": "002374","rise_rate": 10.06,"trade_date": "2025-11-11","reason": "<strong>核心结论:</strong> 财政“化债88号文”明确把贵州42.6亿元遵义道路BT欠款列入首批专项债清偿清单，一次性减值冲回预期陡升，机构资金抢筹导致涨停。<br><strong>驱动概念:</strong> 化债+专项债+白酒"},
|
||
{"stock": "上海建工","stock_code": "600170","rise_rate": 9.96,"trade_date": "2025-09-12","reason": "<strong>核心结论:</strong> 万亿特殊再融资债化解政府拖欠工程款预期，公司应收账款及合同资产达1450亿元，属于化债核心受益标的。<br><strong>驱动概念:</strong> 黄金+化债+核电"},
|
||
{"stock": "华夏幸福","stock_code": "600340","rise_rate": 9.85,"trade_date": "2025-11-17","reason": "<strong>核心结论:</strong> 法院受理预重整落地，新规下暂免*ST且债务重组已签88%，资金抢筹博弈制度套利与化债收官。<br><strong>驱动概念:</strong> 预重整+化债+地产政策"},
|
||
{"stock": "园林股份","stock_code": "605303","rise_rate": 9.99,"trade_date": "2025-11-12","reason": "<strong>核心结论:</strong> 1.5万亿元特殊再融资专项债政策突袭，公司因“最小市值+最高应收占比+浙江国资”被资金选为板块情绪杠杆。<br><strong>驱动概念:</strong> 化债+城市更新+特殊再融资债"},
|
||
{"stock": "东方园林","stock_code": "002310","rise_rate": 10.08,"trade_date": "2025-10-09","reason": "<strong>核心结论:</strong> “国办49号文”首次把PPP历史拖欠款纳入官方化债工具箱，市场押注公司118亿元政府应收账款一次性债转股，净资产由负转正。<br><strong>驱动概念:</strong> 化债+PPP+低价微盘"}
|
||
];
|
||
|
||
function populateMainTable() {
|
||
const tableBody = document.getElementById('stock-table-main');
|
||
const stocks = stockData["化债概念(241013)"];
|
||
let html = '';
|
||
stocks.forEach(s => {
|
||
const codeLink = s.stock_code ? `<a href="https://valuefrontier.cn/company?scode=${s.stock_code}" target="_blank" class="text-blue-400 hover:text-blue-300 transition-colors">${s.stock} (${s.stock_code})</a>` : s.stock;
|
||
const tags = s['其他标签'].split(', ').map(tag => `<div class="badge badge-outline badge-info mr-1">${tag.trim()}</div>`).join('');
|
||
html += `
|
||
<tr>
|
||
<td class="font-bold">${codeLink}</td>
|
||
<td class="text-gray-300">${s.reason}</td>
|
||
<td>${tags}</td>
|
||
</tr>
|
||
`;
|
||
});
|
||
tableBody.innerHTML = html;
|
||
}
|
||
|
||
function populateRiseTable() {
|
||
const tableBody = document.getElementById('stock-table-rise');
|
||
let html = '';
|
||
riseAnalysisData.forEach(s => {
|
||
const codeLink = `<a href="https://valuefrontier.cn/company?scode=${s.stock_code}" target="_blank" class="text-blue-400 hover:text-blue-300 transition-colors">${s.stock} (${s.stock_code})</a>`;
|
||
html += `
|
||
<tr>
|
||
<td class="font-bold">${codeLink}</td>
|
||
<td class="text-green-400 font-mono">${s.rise_rate}%</td>
|
||
<td class="font-mono">${s.trade_date}</td>
|
||
<td class="text-gray-300 text-sm leading-relaxed">${s.reason}</td>
|
||
</tr>
|
||
`;
|
||
});
|
||
tableBody.innerHTML = html;
|
||
}
|
||
|
||
document.addEventListener('DOMContentLoaded', () => {
|
||
populateMainTable();
|
||
populateRiseTable();
|
||
});
|
||
|
||
</script>
|
||
|
||
</body>
|
||
</html> |