> 数据图表咨询大家A股资金：基金发行有望回暖，融资盘仍有增量空间2025-9-0A股资金：基金发行有望回暖，融资盘仍有增量空间供给-需求资金需求IPO再融资增发其他重要股东净减持交易成本南向资金资金供给北向资金公募基金发行股票型混合型公募基金净申购私募基金保险资金分红融资回购图表41：公募、杠杆资金Q4有望贡献重要增量（亿元）2016-19,934 26,596 1,449 20,339 17,768 2,572 9621,7342,112 6,662 607 3,176 459 2,718 -2778888133,726 -2,355842017-10,845 20,520 1,877 13,868 10,170 3,697 3781,4542,943 9,674 1,997 2,322 589 1,733 -1,2897735694,390 860 522018 -949 13,459 1,293 9,466 7,864 1,602 7721,25767112,511 2,942 4,701 1,352 3,349 9683658625,170 -2,7282302019 57623,098 2,427 13,098 6,776 6,322 3,7451,6102,218 23,674 3,517 4,819 2,369 2,450 -1,8623,1225,1505,506 2,565 8552020 13,700 33,302 5,932 12,459 8,491 3,968 6,5522,3925,967 47,002 2,089 18,010 3,826 14,184 -1,45111,1515,4676,180 4,765 7912021 14,948 29,728 5,415 12,072 8,461 3,610 5,3293,1213,791 44,676 4,322 18,384 3,754 14,630 -91412,636-3327,027 2,300 1,2532022-11,400 26,990 5,227 11,014 7,230 3,784 4,0453,3463,359 15,590896 3,648 1,469 2,179 1,7891,6852,3305,466 -2,675 2,4532023 -364 19,840 3,590 7,779 5,790 1,989 3,2202,3572,895 19,475437 2,891 1,430 1,461 1,4821,2621,4459,513 1,336 1,1092024 11,657 12,719663 2,231 1,731 501 4351,9497,440 24,376 -5933,180 2,477 703 2,202-5,1217,79311,251 2,748 2,9162025M812,118 15,780641 2,669 2,252 417 1,5161,8399,115 27,8983412,733 2,138 595 -6715,2386,2238,596 3,914 1,5252025E14,684 21,132950 3,402 2,776 626 2,1722,75811,850 35,816511 4,776 3,741 1,035 5986,1937,6728,743 5,036 2,287数据来源：Wind，财通证券研究所注：私募数据截至7月末，险资与公募基金申赎数据截至6月末34财通证券综合其他
