Market Overview - The three major indices declined, with the ChiNext index leading the drop, and less than 600 stocks rose throughout the day [1] - The total trading volume in the two markets was below 2 trillion, showing a slight increase compared to the previous day [1] - Key sectors such as new energy, AI, and consumer electronics weakened, while only a few concepts performed positively [1] Sector Performance - The ChiNext Enhanced ETF (159292) fell by 1.72%, marking two consecutive weeks of decline, with a trading volume of 11.89 million [1] - The top ten weighted stocks saw significant losses, with Sunshine Power dropping over 10% and a trading volume of 18.2 billion, the highest in the market [1] - Other notable declines included CATL, New Yisheng, and Shenghong Technology, each falling over 2%, while Zhongji Xuchuang rose by over 1% [1] Fund Flow - Major sectors such as electronics, power equipment, communication, and computing experienced significant outflows of funds, with the electronics sector seeing a net outflow of 18.6 billion [4] - The power equipment sector followed closely with a net outflow of 18.2 billion [4] Investment Sentiment - Analysts suggest that the current market adjustment presents a good opportunity to increase investments in China, emphasizing that external disturbances will not end the trend [3] - Long-term views remain optimistic, particularly for technology, cyclical, and financial sectors, with expectations for more policy support in the near future [3] ETF Advantages - The ChiNext Enhanced ETF tracks the ChiNext Composite Index, focusing on high-growth sectors such as power equipment, electronics, pharmaceuticals, computing, and communication, which together account for 66.8% of the index [5] - The ETF is positioned as a low-threshold investment option, allowing entry with a minimal investment [5] - The fund aims for excess returns through a quantitative multi-factor stock selection model, primarily based on fundamental factors [5]

Core Insights - The article discusses the high-quality development of public funds in Beijing, emphasizing the themes of a new era, new funds, and new value [1] Group 1 - The event highlights the importance of adapting to the changing financial landscape and the role of public funds in driving economic growth [1] - It suggests that the formation of MACD golden cross signals indicates a positive trend in certain stocks, which may present investment opportunities [1]

Core Viewpoint - The article emphasizes the importance of regular investment (定投) as a stable financial tool for ordinary workers, highlighting its potential to accumulate wealth over time through disciplined investment practices [1][2][3]. Group 1: Investment Education and Public Awareness - The Beijing Securities Regulatory Bureau and the Beijing Securities Association have initiated a series of activities aimed at promoting high-quality development in public funds, with a focus on educating the public about fund investment [1]. - 中邮基金 is actively involved in investor education, aiming to enhance financial literacy and promote the concept of "new era, new funds, new value" [1][5]. - The initiative seeks to make fund investment accessible to more working-class families, thereby integrating it into their financial planning [1]. Group 2: Benefits of Regular Investment - Regular investment allows individuals to invest small amounts consistently, leveraging the principle of compounding to create significant wealth over time [2][3]. - For instance, a monthly investment of 2000 yuan at an annual return of 5% could accumulate to approximately 800,000 yuan over 20 years, demonstrating the power of disciplined investing [2]. - The strategy of regular investment helps to average out costs and mitigate risks associated with market volatility, making it suitable for ordinary investors [3][5]. Group 3: Psychological and Behavioral Aspects - Many investors tend to stop regular investments during market downturns due to fear, which can lead to missed opportunities for accumulating shares at lower prices [4][5]. - Understanding the principles of regular investment is crucial for maintaining investment discipline and achieving long-term financial goals [5][6]. Group 4: Accessibility and Inclusivity - The development of regular investment reflects the public fund industry's commitment to inclusive finance, allowing ordinary families to participate in capital markets with lower investment thresholds [5][6]. - Many fund products now have a minimum investment requirement as low as 100 yuan, significantly lowering the barrier for young individuals to start their financial planning [5]. Group 5: Future Outlook and Cultural Development - 中邮基金 plans to continue its efforts in investor education, focusing on promoting long-term investment concepts and healthy investment culture through collaborations with communities, enterprises, and schools [6][7]. - The goal is to help more individuals understand the value of long-term investment and achieve stable wealth growth in an uncertain economic environment [6][7].

Core Insights - The article discusses the significant rise in the non-ferrous metals sector, driven by macroeconomic, industrial, and geopolitical factors, highlighting a "metal market boom" [1][3] - The Shenyin Wanguo non-ferrous metals industry index has seen a year-to-date increase of 73.14% as of October 16, 2025, leading among 31 primary industries [1][3] Industry Overview - Non-ferrous metals are defined as metals excluding iron, manganese, and chromium, categorized into five types: industrial metals, minor metals, energy metals, precious metals, and new metal materials [5] - The current market dynamics indicate a strong performance in the non-ferrous metals sector, with ongoing investment opportunities [10] Investment Strategies - Longview Fund's Chen Ziyang focuses on the non-ferrous metals sector, with a portfolio that includes leading companies in industrial metals, precious metals, minor metals, and new materials [5][12] - The Longview Cycle Select Fund has a significant allocation to non-ferrous metals, with top holdings reflecting a broad exposure to key segments [8][12] Market Drivers - Industrial metals are benefiting from a Federal Reserve interest rate cut cycle, which is expected to increase demand and prices, particularly for copper [11] - Minor metals like rare earths are gaining strategic importance due to recent export controls by the Ministry of Commerce, indicating a potential for value reassessment [13] - Energy metals are projected to enter a super cycle driven by the rapid growth of green industries, with demand for key metals expected to increase significantly by 2040 [13] Precious Metals Outlook - The price of gold is anticipated to remain strong, supported by central banks increasing their gold reserves amid a weakening dollar [14] - The article suggests that the current market conditions may present an opportune time for investors to consider gold investments [14]

据了解，此次"新时代·新基金·新价值"系列活动开展一个月以来，已通过多层次、多形式的宣传与互 动，持续强化投资者教育与权益保护，助力公募基金行业转型升级，进一步提升行业服务实体经济的能 力，为打造北京金融高质量发展新名片注入更多动力。 作为国内首家合资转外资控股的公募基金公司，宏利基金扎根中国资本市场近三十年，始终将投资者利 益放在首位，秉承"与你同行，成就更好"的品牌理念，陪伴投资者成长。展望未来，宏利基金及行业内 同仁将继续以"新时代·新基金·新价值"为指引，不断丰富"走进校园、走进商圈、走进社区"等系列投资 者教育活动内容与形式，将行业高质量发展理念与实用金融知识更高效地传递给广大群众，推动公募基 金行业在服务实体经济、助力居民财富增长的道路上稳步前行。 风险提示： 在朝阳区姚家园万象汇活动现场，宏利基金及参与机构创新将金融知识融入互动游戏设计，生动有趣的 形式吸引了大量市民驻足参与。不少市民表示，在轻松愉悦的氛围中不仅学到了实用金融知识，更深刻 理解了理性投资、长期投资的重要性，活动真正实现了 "寓教于乐"，为守护大众财产安全构筑了金融 屏障。 相较于成熟的"走进校园、走进社区"投资者教育活动模式，此 ...

近期，在"市场观望情绪+外部消息催化"的共同作用下，市场出现震荡回调，科技板块亦受到波及。不 过，这种回调或更多是"筹码消化与蓄力"的过程，科技叙事的逻辑仍然稳固。当前，北美科技投入仍在 加码，国内国产算力进展如火如荼；此外，科技行业在整体经济总量上仍有上修空间，并伴随着技术的 不断升级，未来存在持续上涨行情的基础和潜力。 长城"科技+"投资领域的基金经理们将努力挖掘科技创新浪潮下的投资机遇，力争做好"有时代感的投 资"，陪伴投资者向"新"而行。 廖瀚博：把握市场轮动机会 当前国内经济运行平稳，内需主要变量包括财政、投资、消费等，外需主要变量是中美贸易摩擦，预计 会有所反复，需要密切跟踪。整体而言，国内经济不存在大的失速风险，加上政策对资本市场重视程度 提升，市场下跌风险或可控，核心矛盾是如何把握不断轮动的投资机会。即将出台的"十五五"规划，是 未来投资方向的重要指引。 展望四季度，我们将进一步优化持仓结构，提升组合均衡度，在冷门行业中寻找机会，重点挖掘基本面 出现拐点的潜力资产。 陈良栋：挖掘AI驱动的景气行业 储雯玉：重点关注AI硬件赛道 目前市场积累了较多涨幅，处于震荡期，科技板块可能需要一个消化估值的 ...

Core Viewpoint - The overall economic fundamentals in China remain stable as of October, but external factors, particularly the U.S.-China trade relationship, are increasingly influencing the market [1] Group 1: Market Outlook - The A-share market is expected to experience increased volatility in the fourth quarter due to uncertainties in both domestic and international environments [1] - The completion of the annual economic growth target in China is likely, but there may be slight fiscal policy adjustments in response to next year's macroeconomic landscape [1] - The upcoming 20th National Congress of the Communist Party and its agenda, particularly the "14th Five-Year Plan," could significantly impact China's industrial structure and create new investment opportunities [1] Group 2: Sector Focus - The healthcare sector is anticipated to see a second wave of momentum, with a focus on pharmaceutical innovations and AI applications in medical fields [2][3] - The military industry is entering a new cycle of prosperity, with a notable recovery in orders, particularly for consumable and auxiliary equipment [5][6] - Investment strategies should target stocks benefiting from structural changes in equipment construction within the military sector [6] Group 3: Investment Strategies - Companies with expansion capabilities in sectors such as metals, energy, chemicals, and construction materials are of particular interest [7] - Low-positioned domestic demand assets are considered valuable, as they may have limited downside and potential for upward movement [8] - The focus on high-quality lithium battery leaders is emphasized due to the ongoing push for carbon neutrality and advancements in solid-state battery technology [11] Group 4: Long-term Growth Opportunities - The integration of AI with various sectors is viewed as a long-term growth opportunity, despite potential short-term volatility [12] - The geopolitical landscape and trade tensions are prompting increased investment in critical mineral resources, which may lead to a reassessment of their value [12]

10月16日，2025可持续全球领导者大会在上海黄浦世博园区盛大启幕。作为参展商，长城基金携手长城 证券亮相大会配套的 "绿色产业与可持续消费博览会"，集中展示在绿色金融领域的实践成果，彰显资 管机构助力绿色产业升级、推动可持续发展的责任担当。 本届大会由世界绿色设计组织与新浪集团联合主办，获上海市黄浦区人民政府支持，以 "携手应对挑 战：全球行动、创新与可持续增长" 为核心主题，邀请500位中外嘉宾，汇聚全球智慧力量，共探可持 续发展新路径，为全球可持续治理注入澎湃的"中国动能"。作为大会核心配套活动，"绿色产业与可持 续消费博览会" 紧扣 "绿色产业、可持续消费、科技创新" 主线，集中展示全球前沿绿色科技与产业成 果。 活动期间，长城基金重点展示公司在绿色金融领域的业务布局与实践路径，提供公募基金以专业力量赋 能实体经济、共绘绿色金融篇章的落地样本，向外界积极传递企业承诺与行动。 近年来，长城基金始终秉持责任投资理念，积极贯彻落实国家关于绿色金融建设的各项工作部署，围绕 "可持续治理、可持续投资、可持续运营" 三大核心维度，体系化推进绿色金融实践，助力国家绿色金 融发展战略目标落地。 在可持续治理层面，长 ...

Core Viewpoint - ICBC Credit Suisse Asset Management aims to initiate a new chapter in building a first-class investment institution with the theme of "the power of integrity" [1] Group 1 - The company emphasizes the importance of "red gene" and cultural beliefs in strengthening its foundation and uniting its workforce [1] - The formation of a MACD golden cross signal indicates a positive trend for certain stocks [1]

Core Insights - The article emphasizes the importance of the ChiNext Index as a key indicator of China's new economy and its role in guiding investors towards rational value investment [1][2]. Group 1: Investment Opportunities - The ChiNext Index has a total market capitalization of 8.37 trillion yuan as of October 16, 2023, highlighting its significance as a growth engine in the A-share market [1]. - The Longcheng ChiNext Index Enhanced Fund achieved a one-year return of 50.47% as of September 30, 2023, outperforming its benchmark of 46.43% and ranking in the top 15% among similar funds [2]. - The event aimed to deepen the understanding of the investment value of the ChiNext Index and promote index investment tools to meet the growing demand for index-based investment [2]. Group 2: Industry Trends - The article notes that the A-share index system is becoming more refined and diversified, reflecting the high-quality development of the Chinese economy and the continuous optimization of its industrial structure [1]. - The technology innovation industry is experiencing accelerated growth, particularly since 2025, driven by advancements in AI and solid-state battery technologies [1]. - The Longcheng Fund's activities are part of a broader initiative to promote inclusive finance and support the high-quality development of the capital market [3].