6家公司AH股倒挂背后：流通股比例小，外资更爱行业龙头

第一财经12-02

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！　　#6家公司港股股价高于A股#【#6家公司AH股倒挂背后#：流通股比例小，外资更爱行业龙头|市场观察】相比港股，A股有更低的交易成本，更好的市场流动性，A股相对H股有一定溢价，往往被投资者视为理所当然。　　恒生AH股溢价指数（HSAHP）目前依然在120以上，显示整体A股相比H股有20%的溢价。然而，以宁德时代（...

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　　#6家公司港股股价高于A股#【#6家公司AH股倒挂背后#：流通股比例小，外资更爱行业龙头|市场观察】相比港股，A股有更低的交易成本，更好的市场流动性，A股相对H股有一定溢价，往往被投资者视为理所当然。\n　　恒生AH股溢价指数（HSAHP）目前依然在120以上，显示整体A股相比H股有20%的溢价。然而，以宁德时代（...</p>\n\n<a href=\"https://finance.sina.com.cn/jjxw/2025-12-02/doc-infzksih2321026.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1039395188.USD","symbol_name":"BNP PARIBAS GREEN TIGERS \"C\" (USD) ACC","start_time":0,"source_url":"https://finance.sina.com.cn/jjxw/2025-12-02/doc-infzksih2321026.shtml","article_id":"2588087876","we_media_id":null,"thumbnails":[],"rights":{"source":"sina","url":"https://finance.sina.com.cn/jjxw/2025-12-02/doc-infzksih2321026.shtml","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.art_tit_h1{#titleStyle#}a{#lv2TextColor#}.art_time, .art_cite{#sourceStyle#;} .art_cite{margin-left: 3px;}","selectors":".module-article, article","filters":"header, .voice2, .tags, #norm_qrcode_link_auto, .unfold-box, 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　　#6家公司港股股价高于A股#【#6家公司AH股倒挂背后#：流通股比例小，外资更爱行业龙头|市场观察】相比港股，A股有更低的交易成本，更好的市场流动性，A股相对H股有一定溢价，往往被投资者视为理所当然。\n　　恒生AH股溢价指数（HSAHP）目前依然在120以上，显示整体A股相比H股有20%的溢价。然而，以宁德时代（300750.SZ，03750.HK）为代表的6家公司，却出现了H股高于A股的反常现象。\n　　业内人士认为，在海外资金主导的港股市场，这些公司有很大部分是2025年内刚上市的次新股，H股流通量比较小；另一方面，海外投资者对细分领域行业龙头有更多的偏好，国际市场上也很难找到相应标的，使得这些个股出现了H股价较高，或者AH股价格比较贴近的情况。\n\n新浪声明：此消息系转载自新浪合作媒体，新浪网登载此文出于传递更多信息之目的，并不意味着赞同其观点或证实其描述。文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：刘万里 SF014","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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