金秋九月，A股市场以一轮气势如虹的上涨，为投资者带来了丰收的喜悦。在此背景下，正在激烈进行中的、为期6个月的第八届新财富最佳投资顾问评 选"投资管理能力评价"亦捷报频传，参评投顾们凭借卓越的投资管理能力，业绩全面绽放，与火热的市场相得益彰。 0 1 前10平均收益率高达193.94% 投顾业绩"水涨船高" | | | | 特约合作伙伴 | | --- | --- | --- | --- | | | | 第八届 新财富 最佳投资顾问评选 | | | | | NewFortune Best Investment Advisor | | | | | 协办单位 | 玉朝阳永续 Go-Goal | | | 战略支持机构 | 電 学术支持平台 | 役 同 星 深 | | | | 9月全国TOP50投顾 | | | | | (股票交易组) | | | 名次 | 姓名 | 机构 | 营业部/分公司 | | | 何海杰 | 中信建投证券 | 江阴澄江西路证券营业部 | | | 李奇 | 华西证券 | 成都西玉龙街证券营业部 | | | 雷梦瑶 | 国联民生证券 | 浙江分公司 | | 4 | 王旭胤 | 申万宏源证券 | 上海 ...

Core Insights - The article discusses the launch of Meta's latest AI smart glasses, the Meta Ray-Ban Display, which aims to enhance user interaction and reduce smartphone dependency [2][4][5]. Product Overview - Meta Ray-Ban Display features a 600x600 pixel display with a brightness of up to 5000 nits and a 20° field of view, integrating AI and computational capabilities directly into the glasses [6][8]. - The glasses weigh 69g, which is heavier than the previous model, but the user experience is reportedly impressive, allowing for direct interaction with a visual UI [9][12]. User Interaction - The glasses support various functions such as voice and video calls, photo capturing, messaging, music playback, and real-time subtitles, enhancing the overall user experience [10][12]. - The integration of a myoelectric control ring allows users to interact with the glasses discreetly, addressing social norms around public device usage [15][19]. Design Philosophy - Meta emphasizes a design philosophy that prioritizes practicality and user integration into daily life, aiming to make the glasses feel like a natural extension of the user [22][26]. Market Strategy - Meta is reportedly selling the Ray-Ban Display at a price below manufacturing costs to capture market share, with a BOM cost exceeding $800 [30]. - The software ecosystem is tightly integrated with Meta's first-party applications, aiming for a closed-loop system that enhances user retention [30]. Competitive Landscape - The launch of Meta Ray-Ban Display comes amid increasing competition, particularly from Google's Android XR smart glasses, which could challenge Meta's market position [31][32].

Core Viewpoint - The article emphasizes the potential of Index Enhanced ETFs, which combine passive tracking with active management strategies to seek excess returns beyond traditional broad-based ETFs [2][5]. Summary by Sections What is Index Enhanced ETF? - Index Enhanced ETFs are designed to closely track broad market indices like the CSI 300 while employing quantitative or stock selection strategies to achieve excess returns. They offer a dual benefit of following the index and aiming for additional profits [5]. How to Find Index Enhanced ETFs? - Investors can easily locate Index Enhanced ETFs using the Go-Goal App or the ETF search mini-program. By selecting the "Index Enhanced" option in the ETF screening feature, users can access a list of 51 Index Enhanced ETFs available in the market, with 50 already listed [6][9]. ETF Screening Features - The Go-Goal platform provides a comprehensive ETF screening tool with eight categories of features, allowing investors to filter based on their specific needs: 1. Asset Class: Domestic stocks, foreign stocks, domestic bonds, commodities, etc. 2. Major Sectors: Public utilities, upstream resources, midstream materials, etc. 3. Style Characteristics: High dividend, growth, value, low valuation, quality, etc. 4. Trading Tags: T+0, Stock Connect, margin trading, etc. 5. Management Method: Full replication, index enhancement. 6. Investment Regions: China, Hong Kong, USA, Japan, Germany, France, etc. 7. Index Type: Core index, secondary core index, other indices. 8. Business Nature: State-owned enterprises, private enterprises [9].

Core Viewpoint - The semiconductor and chip sectors are experiencing a resurgence, presenting unprecedented investment opportunities driven by the AI wave and technological advancements, particularly in hard tech areas like chips, semiconductors, lithography machines, and satellite communications, which are expected to be a dominant investment theme through 2025 [1] Event Highlights - The "Shining Chip, Winning Technology" investment salon will focus on analyzing global technology competition and TMT investment logic, helping participants grasp industry opportunities driven by AI [4] - Experienced ETF fund managers will share strategies on how to efficiently capture trends using technology-focused ETFs, enabling a streamlined investment approach [5] - Top investment advisors will exchange practical insights on selecting technology stocks and asset allocation, enhancing investment service capabilities [6] Participation Value - The event addresses challenges faced by investment advisors, such as interpreting rapidly changing technology trends, utilizing efficient tools for technology sector investments, and balancing short-term opportunities with long-term strategies [8]

Core Viewpoint - Tongfu Microelectronics has transformed from a struggling state-owned enterprise in the 1990s to a leading player in the global semiconductor packaging and testing market, achieving over 23.8 billion yuan in revenue in 2024, marking a significant milestone in China's semiconductor industry [3][29]. Group 1: Foundational Era - In the 1990s, under the leadership of Shi Mingda, the company pivoted from traditional transistors to the emerging integrated circuit sector, successfully establishing a production line capable of packaging over 10 million integrated circuits annually by 1994 [2][3]. - The partnership with Fujitsu in 1997 marked a critical turning point, providing access to advanced packaging technology and modern management practices, which helped the company escape its previous state of obsolescence [9]. Group 2: National Mission and Growth - After going public in 2007, Tongfu Microelectronics began to receive national recognition and undertook significant projects aimed at enhancing China's core competitiveness in integrated circuit manufacturing [11]. - The company entered a rapid growth phase, expanding its production capacity and acquiring key facilities, including a strategic acquisition of AMD's packaging plants in 2016, which allowed it to gain cutting-edge packaging technology [12][18]. Group 3: Market Position and Strategy - By 2023, advanced packaging technologies, particularly 2.5D/3D and Chiplet, became crucial for chip performance enhancement, reshaping the global semiconductor market landscape [22][27]. - Tongfu Microelectronics holds nearly 10% of the global market share, primarily benefiting from its deep collaboration with AMD, which contributes over 50% of its revenue [23][29]. Group 4: Future Outlook - The company is expected to continue its strategic focus on advanced packaging and diversify its client base beyond AMD, aiming for a 40% revenue contribution from non-AMD clients in the coming years [29].

Core Viewpoint - The article discusses the growing demand for pool cleaning robots, highlighting their transition from a niche product to a necessity in households, particularly in the U.S. and Europe, where the market is expected to expand significantly in the coming years [3][5]. Market Overview - The global pool market is projected to grow from 28.88 million pools in 2021 to 36.92 million by 2026, with a CAGR of 5%. Private above-ground pools are expected to grow even faster at a CAGR of 7.57% [3]. - The global sales of pool cleaning robots are anticipated to increase from less than 3 million units in 2025 to 4 million units by 2029 [3]. Competitive Landscape - The leading pool cleaning robot manufacturer, Maytronics, has seen a decline in revenue, dropping 14% to 1.6 billion shekels (approximately 3.4 billion RMB) in 2024, with further declines expected in 2025 [8]. - Domestic companies, particularly Aiper, are rapidly gaining market share, with Aiper expected to sell over 1 million units this year and achieve a market share of over 40% in online channels [14]. Technological Advancements - Pool cleaning robots are increasingly replacing manual cleaning methods, with robots expected to account for 25% of global pool cleaning methods by 2024 [15]. - The technology behind pool cleaning robots is complex, involving environmental sensing, underwater communication, and navigation, which presents significant technical challenges [19][20]. Future Trends - The integration of AI and sensor technology in pool cleaning robots is seen as a key area for innovation, with products like Aiper's Scuba V3 capable of intelligent obstacle avoidance and real-time water quality monitoring [24]. - The concept of "smart gardens" is emerging, where various garden robots, including pool and snow removal robots, work together to create a more efficient and user-friendly outdoor environment [25].

Core Viewpoint - The article discusses the slow development of offshore wind power globally, highlighting the challenges and emerging opportunities in the sector as countries set ambitious installation targets for the future [2][30]. Group 1: Current State of Offshore Wind Power - As of the end of 2024, the global cumulative installed capacity of offshore wind power is 83.2 GW, which is only one-third of China's annual new photovoltaic installation capacity [2][4]. - The global offshore wind power market is primarily concentrated in China and Europe, with other regions lagging significantly [2][4]. - The high costs, unique challenges of marine environments, technical difficulties, and declining subsidies are key factors contributing to the slow growth of offshore wind power [2][4]. Group 2: Economic Factors - The weighted average levelized cost of electricity (LCOE) for offshore wind power is $0.079 per kWh, more than double that of onshore wind power at $0.034 per kWh [6]. - The average installation cost for offshore wind power is $2,852 per kW, compared to $1,041 per kW for onshore wind [6]. - The internal rate of return (IRR) for offshore wind projects is typically lower than that of onshore wind and solar projects, ranging from 6% to 7% [10]. Group 3: Strategic Advantages of Offshore Wind - Offshore wind power is strategically located closer to load centers, reducing the need for long-distance transmission from inland sources [12]. - Countries with limited land area, such as those in Europe and East Asia, have greater market potential for offshore wind power [12]. - Offshore wind resources benefit from higher wind speeds, greater stability, and more effective utilization hours compared to onshore wind [13][19]. Group 4: Future Growth Projections - In 2024, global new offshore wind installations are expected to reach 8,001 MW, with China contributing over 50% of this growth [21]. - The European market is projected to see significant growth, with the Global Wind Energy Council estimating an addition of 126 GW of offshore wind capacity over the next decade [32]. - Major countries like the UK, Germany, and the Netherlands have set aggressive installation targets, with the UK aiming for 50 GW by 2030 [32][33]. Group 5: Policy and Market Dynamics - The ongoing geopolitical situation, particularly the Russia-Ukraine conflict, has prompted European countries to prioritize energy independence and renewable energy sources, including offshore wind [30]. - The trend towards larger wind turbines is expected to improve the economic viability of offshore wind projects, with average turbine sizes increasing from 8-10 MW to 14-16 MW [30]. - The decline in financing costs due to lower interest rates is also making offshore wind projects more feasible [30].

Group 1 - The core concept of TMT is the combination of Technology, Media, and Telecom, representing a significant sector in the capital market often leading in bull markets and viewed as a growth investment opportunity [2][7][10]. - TMT encompasses a wide range of companies related to information technology, making it a popular investment area [3][6][7]. Group 2 - To quickly find TMT sector ETFs, users can utilize the Go-Goal App or the ETF search mini-program by selecting the TMT category in the ETF screening feature [3][10][12]. - The ETF screening function allows investors to filter through various categories, including asset class, major sectors, style characteristics, trading tags, management methods, investment regions, index types, and operational nature, facilitating a more targeted search for specific ETFs [4][10][15].

Core Viewpoint - Shenzhen New Fortune Multimedia Co., Ltd. has filed a lawsuit against Shenzhen New Fortune Magazine Co., Ltd. and its affiliates due to serious impacts on its legal rights caused by various actions during the "Best Analyst" selection process [1][2]. Group 1: Legal Actions and Allegations - The company has identified several actions that negatively affect its legal rights, including the illegal acquisition and use of its data, such as voter names, phone numbers, and email addresses for the "Best Analyst" selection [2]. - Unauthorized use of proprietary award names like "Platinum Analyst," "Diamond Analyst," and "Double Diamond Analyst," along with the use of the company's historical award records as a basis for their selection [2]. - Misleading promotional language that causes confusion in the market, leading the public to mistakenly associate the "Best Analyst" selection with the company's own awards [2]. - Direct copying of the company's rules and historical data in award settings, industry classifications, and leaderboard designs, resulting in a highly similar format to the company's "Best Analyst" selection [2]. Group 2: Protection of Commercial Secrets - The case involves the theft and use of the company's commercial secrets, including voter names, phone numbers, and email addresses, which have been used in the "Best Analyst" selection [3]. - The judicial authorities will review whether the actions constitute criminal offenses and will advance the corresponding investigations [3]. Group 3: Commitment to Industry Standards - The company remains committed to fairness, impartiality, and professionalism, aiming to protect industry order and promote the healthy development of capital market research [4]. Group 4: Relevant Legal Provisions - Relevant legal provisions include the Trademark Law, which prohibits the unauthorized use of similar trademarks that could cause confusion [6]. - The Anti-Unfair Competition Law, which prohibits acts of confusion and infringement of commercial secrets [6]. - The Civil Code, which protects intellectual property rights and holds infringers accountable [6]. - The Criminal Law, which may classify serious violations of commercial secrets as a crime if proven [6].

Group 1 - The article highlights the breaking of a ten-year stagnation in the Shanghai Composite Index, indicating a shift in the investment landscape as the market experiences new dynamics [1] - The upcoming event in Xi'an on September 25, 2025, aims to gather fund managers and investment advisors to discuss asset allocation strategies and the value of ETF investments [1][2] - The theme of the salon is "Ten Years of Accumulation Finally Breaks Through, Seizing Opportunities at Quarter-End," emphasizing the importance of strategic investment during this transitional period [2] Group 2 - The salon will provide in-depth analysis of current ETF allocation strategies, focusing on essential investment tools [2] - Insights into emerging market opportunities under a weak dollar backdrop will be shared, broadening global investment perspectives [2] - The event will also cover a comprehensive methodology for investment advisory services, supporting professional transformation and growth in the wealth management sector [2][6]