专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 近日，在北京证监局指导下，北京证券业协会携手辖区公募机构启动了"北京公募基金高质量发展系列 活动"。这场以"新时代・新基金・新价值"为主题的专业行动，正在将投资者教育与保护工作推向新的 深度。作为首都公募基金行业的一员，中邮基金积极响应号召，其权益投资团队近期重点关注高端制造 与国产替代领域的投资机遇，认为这些领域正在孕育着一批未来资本市场的"新蓝筹"企业。 展望未来，中邮基金权益团队认为高端制造与国产替代领域的投资前景广阔。国产替代不是短期主题， 而是长期趋势，将催生一批具有核心竞争力的中国企业。 当然，投资者也需要认识到，高端制造与国产替代领域的投资同样伴随着风险。技术迭代速度快、研发 投入回报不确定、市场竞争加剧等因素，都可能影响企业的盈利能力。在资本市场上，相关公司的估值 波动较大，也需要投资者具备较强的风险承受能力。 随着国产产品在各领域的市场占有率持续提升，一批具有核心技术、强大市场竞争力和持续创新能力的 中国高端制造企业正在崛起。它们或许今天的规模还不大，但明天可能成为资本市场的中流砥柱。在北 京公募基金行业持续发展的今天，中邮基金等 ...

Core Insights - The core viewpoint emphasizes the necessity for public fund companies to enhance their investment research capabilities to adapt to the increasing complexity and scale of the market, aiming for high-quality development and improved investor returns [1][4]. Group 1: Investment Research Capability - Investment research capability is described as the "lifeline" of public fund companies, essential for prioritizing investor interests and enhancing returns [1]. - The China Securities Regulatory Commission has proposed an action plan to strengthen core investment research capabilities, advocating for a systematic and integrated research framework [1][4]. - Fund companies are encouraged to shift from individualistic approaches to sustainable and replicable investment research systems [1]. Group 2: Investment Philosophy - A unified and effective investment philosophy is identified as the foundation of a fund company, influencing decision-making, risk control, and client service [2]. - 汇安基金 (Hui'an Fund) has developed a "four-in-one" investment system focusing on long-term performance based on deep value research, avoiding short-term performance assessments [2]. Group 3: Research and Investment Structure - The company emphasizes a team-based and collaborative investment research model to diversify revenue sources and mitigate performance volatility [3]. - 汇安基金 has established a robust research team divided into equity and fixed income teams, focusing on macro strategies and various sectors [3]. - The investment decision-making process is led by an investment decision committee, with seven specialized investment groups formed to enhance research capabilities [3].

Group 1 - The core focus of the article is on enhancing the scale and proportion of equity investments in public funds, which is crucial for both the fund industry and ordinary investors to share in economic growth [1] - Regulatory bodies will prioritize the performance of equity funds when evaluating fund companies, encouraging them to focus more on equity investments [1][2] - There will be an increase in the variety of equity fund products, including innovative actively managed funds with performance-based fees and the development of index funds aligned with national strategies [2] Group 2 - New registration arrangements will expedite the availability of equity funds, allowing for quicker access to quality products for investors [2] - Sales institutions will be evaluated not only on the volume of funds sold but also on the performance and retention of equity fund investors, promoting a focus on genuinely profitable funds [3] - The measures outlined aim to ensure that equity investments in public funds are stable, diverse, and aligned with investor needs, ultimately enhancing the role of public funds in serving the real economy and managing wealth [3]

Group 1 - The core theme of the event is "New Era, New Fund, New Value," aimed at promoting high-quality development in the public fund industry in Beijing [1] - The initiative is guided by the Beijing Securities Regulatory Bureau and involves collaboration with various stakeholders, including fund managers, sales institutions, and media [1] - The activities will last for over a month and focus on investor education, protection, and enhancing the ability of public funds to serve the real economy [1] Group 2 - Huashang Fund is actively promoting financial and investment knowledge, advocating for long-term and rational investment concepts [1] - The goal is to raise public awareness of risk prevention and contribute to the high-quality development of the industry [1]

Core Insights - The article discusses the high-quality development of public funds in Beijing, emphasizing the new era, new funds, and new values in the investment landscape [1] Group 1 - The MACD golden cross signal has formed, indicating a positive trend in certain stocks [1]

Group 1 - The core theme of the event is "New Era, New Fund, New Value," aimed at promoting the high-quality development of the public fund industry in Beijing [1] - The bond market is currently in a delicate balance, with interest rate bonds experiencing significant fluctuations after a notable rise earlier this year [1] - Economic indicators suggest a recovery, but the foundation for this recovery needs further consolidation, providing a stable yet challenging environment for the bond market [1] Group 2 - The credit bond market presents significant investment opportunities, characterized by pronounced structural differentiation across industries and regions [2] - A systematic methodology for credit bond investment has been established, emphasizing risk identification and a multi-dimensional credit assessment system [2] - The team prioritizes in-depth research on issuers, analyzing financial statements and conducting on-site evaluations to understand the true status of companies [2] Group 3 - The team adopts a selective strategy in choosing individual bonds, favoring those in high-performing industries with stable cash flows and sound governance [3] - Emphasis is placed on portfolio management, constructing diversified investment portfolios based on liquidity, duration, and credit ratings [3] - The current investment landscape for credit bonds presents both opportunities and challenges, necessitating high professional capability from investors [3] Group 4 - Future structural opportunities in the bond market are anticipated, driven by improved market mechanisms and optimized investor structures [4] - The team is committed to maintaining a professional and cautious approach to provide high-quality services to investors [4] - Continuous market research and rigorous investment decisions are essential for helping investors achieve wealth growth [4]

MACD金叉信号形成，这些股涨势不错！ 责任编辑：石秀珍 SF183 ...

10月10日，北方稀土、包钢股份两大稀土巨头宣布提价。此次上调后，2025年第四季度稀土精矿交易价 格相较于第三季度价格环比上涨约37%，创下自2023年第二季度以来的最高值。 中金公司指出，中国在稀土领域拥有领先地位，2024年开采份额占全球的61%，但更为重要的是90%以 上的精炼环节都集中在中国。稀土管制作为"先手"在4月就已经出现在"谈判桌"上，然而10月9日的一系 列举措更为严厉，不仅将在11月8日对超硬材料、部分稀土设备和原辅料、5种中重稀土、锂电池和人造 石墨负极材料实施出口管制，同时也将即日起对境外稀土出口和稀土技术实施管制。 新规要求跨国公司销售的商品中，如果含有中国稀土矿产占产品价值的0.1%或以上，则需要获得中国 政府的许可，这将使得跨国科技公司的关键产业链面临挑战。值得关注的是，商务部新闻发言人表示， 中国的出口管制不是禁止出口，只要是用于民用用途的、合规的出口申请，都可以获得批准，相关企业 无须担心。 东方财富指出，中国对稀土产业全方位管控后，全球稀土供给增长预期或下调，利好国内稀土产业高质 量发展。稀土永磁材料与人形机器人等产业密切相关，板块未来或受益于新兴产业的需求预期增长。 盘 ...

专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 在金融行业高质量发展的壮阔征程中，公募基金作为连接资本市场与亿万居民财富的关键枢纽，深刻影 响着人民福祉。公募基金业正站在从规模导向转向质量导向的关键转折点，泰康基金作为保险资管开展 公募业务的先行者，以"长期主义"为战略支点，完成了从2015年泰康资产公募事业部起步，到2022年独 立基金管理公司的蜕变升级。依托泰康保险集团30年沉淀的保险资金管理经验，在政策东风与市场需求 的双重驱动下，走出一条"规模与回报并重、发展与质量共生"的协同发展之路。 纠偏规模情结，回归价值本源 近年来，公募基金行业规模实现跨越式增长。基金业协会最新发布的数据显示，截至 2025 年 8 月底， 全行业管理资产净值达 36.25 万亿元，较 2015 年的 8 万亿元增长超 4 倍，成为资本市场不可或缺的重 要力量。但快速发展的过程中也暴露出一些问题：产品同质化竞争激烈，部分投资者难以获得长期持续 稳定回报，规模增长与投资者获得感之间存在一定失衡。 2025年5月，中国证监会《推动公募基金高质量发展行动方案》的发布，为行业拨正航向、回归本源提 供了清晰指引。《方案》的 ...

Market Overview - A-shares experienced a significant divergence in performance post-holiday, with the Shanghai Composite Index losing the 3900-point mark and the ChiNext Index dropping over 4% on Friday, marking its largest single-day decline since April 7 [1] - The average daily trading volume in the A-share market increased to 2.60 trillion yuan, indicating heightened market activity [1] Economic Data - Holiday consumption demonstrated resilience in domestic demand, although per capita travel spending decreased year-on-year, reflecting limited consumer willingness [1] - The tightening of U.S.-China relations has led to a reduction in market risk appetite, with potential short-term impacts on domestic equity markets [2] Industry Insights - The cyclical sectors led the market gains, while technology and growth sectors lagged behind [1] - The short-term market style is expected to rebalance, with a focus on sectors showing performance, particularly in technology, AI, and domestic alternatives like semiconductors and energy storage [3] - Non-bank financial sectors such as brokerage, insurance, and financial IT are anticipated to see improvements in both valuation and performance [3] Policy and Future Outlook - The upcoming "14th Five-Year Plan" draft is expected to provide clear guidance for industrial development and economic restructuring, serving as a significant policy catalyst for the fourth quarter [2] - Despite the current market challenges, there remains a positive outlook for incremental capital inflows into the equity market, supported by stable economic fundamentals and a potential Fed rate cut cycle [2]