工银瑞信基金表示，此前，化工行业自 2023 年一季度盈利触底以来，已在底部震荡 11 个 季度，行业经历长时间亏损后产能开始出清。海外龙头业绩普遍严重承压，近两年不间断有 产能退出，多数子行业小型工厂处于盈亏线附近甚至亏损。 牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 近期反内卷政策持续深化推进，直接受益的化工板块稳步上涨。基金公司布局相关产品的步 伐也在加快， 9 月以来多只化工主题基金密集申报。在业内人士看来，未来，随着库存周期 本身临近景气向上阶段，叠加反内卷政策，以化工为代表的中游周期制造行业值得关注 。 化工板块迎来反弹 日前上证指数一度逼近 3900 点，科技股重回市场 "C 位 " 。在市场热度的另一端，以化工 行业板块为代表的周期股悄然反弹。 从走势来看，在中证细分产业主题指数中，周期板块近期表现领先。截至 9 月 12 日收盘， 细分有色指数近一月涨幅为 19.63% ，细分机械指数上涨 11.93% ，细分化工指数紧随其 后，涨幅为 11.84% 。从近三月来看，该指数的涨幅分别为 38.51% 、 26.42% 、 2 ...

Core Viewpoint - The article discusses the recent surge in the pre-prepared food (pre-cooked meals) sector in the A-share market, driven by public discourse and controversies surrounding the industry, particularly involving the West Be restaurant chain and influencer Luo Yonghao [3][4][14]. Group 1: Market Activity - On September 15, several pre-prepared food stocks experienced significant movements, with Delisi hitting the daily limit, and Huifa Foods and Sanjiang Shopping also seeing sharp increases [3][4]. - The pre-prepared food industry is witnessing a high growth trend, with a reported CAGR of 19% from 2019 to 2022, and projected revenue reaching 475.7 billion yuan by 2025 [17]. Group 2: Industry Controversy - The controversy began with Luo Yonghao criticizing West Be's pre-prepared meals, leading to a public debate that attracted attention from major media outlets like People's Daily and Xinhua News [3][14][15]. - West Be issued an apology, acknowledging discrepancies between their production methods and customer expectations, and announced plans to adjust their cooking processes to enhance customer experience [5][6][7][8][9][10][11][12][13]. Group 3: Regulatory and Industry Insights - Major media outlets emphasized the need for transparency and consumer trust in the pre-prepared food sector, highlighting the importance of clear standards and regulations [14][15][16]. - The article notes that the pre-prepared food industry is an essential part of the food industry, and its healthy development is crucial to meet the diverse needs of consumers [16]. Group 4: Future Outlook - Experts suggest that the future of the pre-prepared food industry lies in standardization, transparency, and innovation, with calls for national standards to guide production and processing [16][17]. - The current penetration rate of pre-prepared meals in China is between 10% and 15%, significantly lower than the 60% seen in mature markets, indicating substantial growth potential [17].

Core Viewpoints - The Chinese stock market is expected to continue its upward trend, with A/H shares likely to reach new highs within the year due to accelerating economic transformation and reduced uncertainties [4][5][15] - The focus should shift from domestic economic cycles to a global perspective when evaluating company fundamentals, especially as more companies expand their international exposure [3] Group 1: Market Trends and Sentiment - The current market sentiment is characterized by a structural rally driven by "smart money," with a daily trading volume expected to stabilize around 1.6 to 1.8 trillion yuan [3] - Historical data suggests that after a "volume peak," the upward trend often continues, albeit at a slower rate, indicating that the current bull market narrative remains intact [6][7] - The market is entering a phase of rotation and expansion, with a focus on sectors that exhibit strong industrial trends and economic governance improvements [10][11] Group 2: Investment Opportunities - Key sectors to watch include resources, consumer electronics, innovative pharmaceuticals, chemicals, gaming, and military industries, as they align with global supply chain dynamics [3] - The market presents broad opportunities, with a focus on both emerging technologies and traditional sectors undergoing valuation recovery [5] - Specific recommendations include sectors with high economic activity such as software development, communication equipment, and cyclical commodities like non-ferrous metals and chemicals [8][9] Group 3: Economic Indicators and Policy Impact - The improvement in basic economic indicators is expected to broaden the scope of economic prosperity across various sectors, moving beyond just a few high-growth areas [11][12] - The anticipated easing of monetary policy by the Federal Reserve and the ongoing capital inflow into the equity market are likely to support the upward trajectory of A-shares [13][14] - The upcoming policy changes and economic governance strategies are expected to further enhance market confidence and investor returns [4][15]

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ "宁王"动了！ 周一早盘，A股"最劲"非宁德时代莫属。宁德时代A股涨超14%，创历史新高。其H股大涨近9%，也创下 历史新高。电池板块亦因此大幅拉升，板块涨幅一度超5%。 分析人士认为，主要有四大利好驱动： 一是，今早，中国汽车工业协会发布汽车整车企业供应商账款支付规范倡议。 二是，福建周末发布《关于加快福建经济社会发展全面绿色转型的行动方案》。 三是，9月12日发改委、能源局印发《新型储能规模化建设专项行动方案（2025—2027年）》的通知， 叠加近期储能大会召开。 四是，工信部等八部门近日联合印发《汽车行业稳增长工作方案（2025—2026年）》，提出2025年力 争实现全年汽车销量3230万辆左右，其中新能源汽车销量1550万辆左右。 "宁王"爆发 在其他硬科技大跌之际，宁王爆发了。其A股早盘一度涨超14%，其H股亦大涨近9%。 | DURETS | | | 资金流向 · 12核心内参 | 个股风云 ▼ | 分析师指数 | | 条件选股 | 高级选股 | | | 机构增分 | 热点追击 | ...

在9月议息会议前夕，美国总统特朗普表示，美联储将在此次会议上实施9个月以来的首次宽松政策，他 预期美联储会"大幅降息"。与此同时，特朗普政府再度敦促美国上诉法院批准解雇美联储理事库克。 目前来看，市场已经确信美联储将会至少降息25个基点，但降息50个基点的难度很大。据CME"美联储 观察"，美联储本周降息25个基点的概率达96.4%，降息50个基点的概率仅为3.6%。有分析指出，本周 美联储会议声明的措辞、利率点阵图以及投票结果，将是判断美联储未来货币政策走向的关键。 "降息幅度会很大" 牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 关键时刻，特朗普向美联储"极限施压"。 美东时间9月14日，美国总统特朗普表示，美联储本周将举行一次关键会议，美联储预计将在此次会议上 实施九个月来的首次宽松政策，届时美联储将"大幅降息" 。 "我认为美联储的降息幅度会很大，"特朗普周日返回华盛顿途中对记者表示："现在正是降息的最佳时 机。" 根据日程安排，美联储将于本周（9月16日至17日）召开议息会议，届时将决定是否降息。市场一致认 为，该央行将在此次会议上进 ...

Core Viewpoint - The article highlights the positive developments in the semiconductor industry, particularly focusing on the bullish outlook for chip companies driven by AI demand and anticipated price increases in memory chips [3][4][5]. Group 1: Chip Company Developments - Goldman Sachs raised the target price for Chipone Technology (芯原股份) from 193 RMB to 220 RMB, maintaining a "buy" rating, reflecting strong growth driven by AI orders [4][5]. - Chipone recorded an 86% year-on-year increase in new orders from July to mid-September, with 64% of these orders coming from the AI computing sector, leading to a total order backlog of 3 billion RMB [5][6]. - The company is expected to see improvements in gross margin and profitability, with net profit forecasts for 2026-2030 being adjusted upwards by 2% to 7% [6]. Group 2: Memory Chip Price Increases - Micron Technology has paused all product pricing for DDR4, DDR5, LPDDR4, and LPDDR5 memory chips, with potential price increases of 20%-30% expected due to supply-demand changes [8][9]. - SanDisk has already announced a price increase of over 10% for its storage products, indicating the start of a new price surge in the memory chip industry [9][10]. - The demand for storage chips is being driven by AI applications and data centers, with DRAM price index rising approximately 72% over the past six months due to supply constraints [9][10].

Core Viewpoint - The Chinese Ministry of Commerce has initiated anti-discrimination investigations against the U.S. regarding semiconductor measures, asserting that U.S. actions are discriminatory and detrimental to both China's development and the global semiconductor supply chain stability [3][5][6]. Group 1: Anti-Discrimination Investigation - The Ministry of Commerce announced the initiation of an anti-discrimination investigation into U.S. measures affecting the integrated circuit sector, citing a series of prohibitive actions by the U.S. that hinder China's advancement in high-tech industries [3][5][6]. - The Ministry emphasized that these U.S. protectionist practices not only harm China's interests but also disrupt the stability of the global semiconductor supply chain [3][6]. Group 2: Anti-Dumping Investigation - An anti-dumping investigation has been launched concerning imported analog chips from the U.S., following a request from the domestic industry, which aligns with Chinese laws and WTO regulations [4][7]. - Preliminary evidence indicates that from 2022 to 2024, the volume of imports from the U.S. increased by 37%, while the prices dropped by 52%, negatively impacting domestic product sales [7]. Group 3: Industry Support - The China Semiconductor Industry Association expressed support for the Ministry's investigations, advocating for a fair environment for the healthy development of the semiconductor industry [4]. - The association encourages continuous technological innovation and international cooperation among enterprises to foster a competitive market [4].

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ 美联储重磅时刻来袭！ 9月18日，美联储FOMC将公布利率决议和经济预期摘要；美联储主席鲍威尔将召开货币政策新闻发布 会。按照 "美联储观察"工具显示，下周FOMC有93.4%的概率将祭出25个基点的降息，将美国政策利率 区间下降至4%-4.25%。还有极其微弱的可能性会降息50个基点。 值得关注的是，Rieder近日表示，基于他对经济指标的解读，美联储应降息50个基点，这是市场普遍预 期的25个基点的两倍。当前，交易员加大了对美联储降息的押注，预期美联储下周会议至少降息25基 点，并且年底前可能还会再降息两次。 贝莱德高管成为热门人选之一 据彭博社消息，一位政府官员透露，贝莱德高管Rick Rieder正迅速成为接替鲍威尔担任下一任美联储主 席的热门人选。鲍威尔的美联储主席任期将于明年5月届满。 报道称，上述消息人士表示，美国财政部长贝森特9月12日在纽约与Rieder进行了长达两小时的会谈，谈 话内容涵盖货币政策、美联储的组织结构以及监管政策。贝森特与Rieder会面时，还有两位资深人士在 场， ...

Core Viewpoint - The AI industry is becoming the core driving force of the technological revolution, with a focus on investment opportunities and trends in AI technology and applications [2]. Group 1: Live Broadcast Details - A special live broadcast titled "Investment Opportunities Behind 'Artificial Intelligence+'" is scheduled for September 15, 14:00, featuring industry experts from five fund companies [5]. - Subsequent sessions include topics such as "Can CPO Still Be Bought?" on September 16, "New Paradigms of Technology Investment in the AI Wave" on September 17, and "Is AI Computing Still the Main Line? How to Uncover Opportunities?" on September 18 [7][9][11]. - The final session on September 19 will focus on "Insight into the AI Industry Chain and Grasping New Investment Trends" [13]. Group 2: Engagement and Incentives - Participants can engage in the live broadcast through the Tian Tian Fund APP, with incentives including an 18 yuan discount coupon for designated AI sector funds, a 100 yuan JD card, and various prizes [5][18].

Core Viewpoint - The article discusses the "Automobile Industry Stabilization and Growth Work Plan (2025-2026)" issued by eight departments, aiming to achieve a target of approximately 32.3 million vehicle sales in 2025, with a focus on boosting the electric vehicle market and enhancing the overall quality and efficiency of the automotive industry [3][5][28]. Summary by Sections Overall Requirements - The plan is guided by Xi Jinping's thoughts and aims to implement the spirit of the 20th National Congress of the Communist Party, focusing on stabilizing growth while promoting quality improvements in the automotive sector [11][35]. Main Goals - The target for 2025 is to achieve around 32.3 million vehicle sales, a year-on-year increase of about 3%, with approximately 15.5 million of those being new energy vehicles (NEVs), reflecting a 20% growth. The automotive manufacturing value-added is expected to grow by around 6% [12][37]. Work Measures - **Expanding Domestic Consumption**: Initiatives include promoting the electrification of public vehicles, supporting the replacement of old vehicles, and enhancing the infrastructure for charging stations [15][38]. - **Improving Supply Quality**: Emphasis on technological innovation to stimulate consumer demand, upgrading standards to enhance product quality, and ensuring the stability of the supply chain [18][40]. - **Optimizing Industry Development Environment**: This includes improving infrastructure for charging stations, reforming management policies for vehicle production, and ensuring fair competition within the industry [21][42]. - **Enhancing International Cooperation**: Encouraging automotive exports, improving financial services for exports, and fostering multi-level international collaboration [23][50]. Safeguard Measures - The plan includes strengthening coordination among departments, enhancing monitoring of industry operations, and focusing on talent development to support the automotive sector's growth [26][28].