2025 年 AI 将重塑三大产业，你准备好了吗？ 在全球经济复苏承压、中国经济向高质量发展转型的关键节点，人工智能正成为重塑增长逻辑的核心引擎。权威数据显示， 2025 年 AI 将直 接贡献全球 GDP 的 2.92% （约 3.2 万亿美元），到 2030 年这一比例将跃升至 9.54% 。当 AI 从"技术概念"变为"生产力工具"，李开复 博士的每一次发声都在为行业锚定方向。 7 月 4 日 -5 日，格隆汇诚邀您莅临【格隆汇中期策略会 2025 】！ 本次活动我们邀请到了零一万物 CEO 、创新工场董事长李开复博士亲临现场，分享全球视角下的生成式 AI 的未来发展。 这位曾主导微软亚洲研究院、谷歌中国的技术领袖， 2023 年创办了大模型独角兽公司零一万物，正以创业者身份推动生成式 AI 驱动的 AI2.0 技术与实体经济深度融合，以先进产业大模型赋能千行百业，推动企业拥抱新质生产力。可谓是身体力行技术实践了国家 "十四五" 规 划中" AI 驱动产业升级"的战略。 中国大模型狂奔进入第三年，大模型技术已经走出实验室，进入到 "落地为王"的阶段，将迎来 AI-First 应用的爆发 。 DeepSe ...

Core Viewpoint - The innovative drug sector is a significant investment theme this year, showing strong performance and potential for continued growth driven by macroeconomic improvements, supportive policies, and the realization of commercial profits [1][3][33]. Group 1: Market Performance - The Hang Seng Pharmaceutical ETF (159892) has risen by approximately 60% this year, indicating a strong recovery in the pharmaceutical sector after four years of downturn [3]. - Despite a recent pullback, the innovative drug sector continues to dominate the ETF performance rankings, with the Hang Seng Pharmaceutical ETF increasing by 4.18% and the Sci-Tech Pharmaceutical ETF (588130) by 2.21% [2][3]. Group 2: Drivers of Strength - Two main reasons for the strength of innovative drugs are the improving macroeconomic environment and favorable policy developments [4][5]. - The U.S. CPI in May was lower than expected, leading to increased market expectations for a potential 100 basis point rate cut by the Federal Reserve, which would benefit the valuation of innovative drug stocks [4]. - Recent policy initiatives, such as the improvement of basic medical insurance drug lists and the establishment of bio-manufacturing platforms, further support the innovative drug sector [5]. Group 3: Market Dynamics - The innovative drug sector has outperformed many other popular sectors over the past six months, indicating a shift in market sentiment [6]. - The concept of "turning points" is crucial, encompassing macroeconomic, industry, and company fundamentals, as well as valuation aspects [9][10]. - The current PE ratio of the Hang Seng Biotechnology Index is 27.64, suggesting that there is still room for valuation recovery as it remains below 90% of the historical range over the past decade [11]. Group 4: Growth Opportunities - The approval of multiple innovative drugs by the National Medical Products Administration, including 11 new drugs on May 29, highlights the growing pipeline and market potential for innovative drug companies [11][12]. - Successful international collaborations and the recognition of domestic innovative drugs at global events like the ASCO conference demonstrate the competitive strength of Chinese pharmaceutical companies [11][12]. Group 5: Liquidity and Investment Trends - The influx of foreign capital into the Hong Kong market, with 27 IPOs and 15 involving foreign cornerstone investors this year, indicates a reversal in sentiment towards Hong Kong stocks [19][20]. - The average daily trading volume in Hong Kong has significantly increased, reflecting heightened liquidity that benefits the innovative drug sector [25][27]. - Morgan Stanley projects continued high trading activity in Hong Kong, driven by increased A+H listings and potential capital inflows due to favorable monetary conditions [28]. Group 6: Future Outlook - The innovative drug sector is positioned for sustained growth, supported by a combination of policy, profitability, and internationalization [33]. - The current growth cycle is distinct due to the macroeconomic recovery, industry revaluation, and increased liquidity, leading to stronger-than-expected performance [35][36]. - However, not all companies will benefit equally, and only those with clinical value and commercialization capabilities are likely to thrive in the long term [37].

ETF进化论 疯了！年内首只翻倍基诞生？ 原创 阅读全文 ...

历史的指针划过 2025 年的中轴，世界正以惊人的加速度重构底层逻辑。 当人工智能算法重写生产力方程，生物科技解码生命密码，这个被 " 新质生产力 " 重新定义 的时代，全球经济版图正经历一场静默而深刻的变革。 这是一场波澜壮阔的文明跃迁。 历史的经验告诉我们，任何一次真正的转型都伴随着阵痛与淬炼。 地缘政治 "黑天鹅"、货币政策"温差"、特朗普反复"整活"……世界格局变得暗潮汹涌。 在东西方文明的张力场里，中国经济正惊心动魄的进行着 "量子跃迁"。 顺着时空长河望去，我们比任何时候都更需要清醒认知：这不是简单寻常的商业周期轮动。 2025 年 7 月 4 日 -5 日，格隆汇 2025 中期策略峰会将再度于深圳启幕。 我们力邀了顶尖思想领袖与实战精英共赴这场思想盛宴，在变局的十字路口，在思想的激烈碰 撞中，一同绘制属于下半年的价值图谱。 历史从来不缺旁观者，但永远需要创造者。这场关于未来的对话，期待您的在场。 请注意， 7 月 5 日全天的全球机构投资者思享会为收费活动，前排预留席位金额： 6 88/ 人（早 鸟价，原价 1 088/ 人） 普通席位 3 88/ 人（早鸟价，原价 688/ 人），请联系专属 ...

格隆汇新股 浙江杭州冲出一家半导体IPO，龙芯中科实控人的哥哥创办，年入6亿 原创 阅读全文 ...

Core Viewpoint - The article discusses the positive impact of the recently released "Opinions" by the Central Committee and the State Council on the financial sector in Shenzhen, highlighting opportunities for financial reform, innovation, and technology empowerment. Group 1: Financial Sector Reforms - The "Opinions" emphasize five key points, including improving the incentive and constraint mechanisms for financial services to the real economy [5] - Support for Shenzhen to conduct integrated pilot projects for technology industry finance [5] - Establishing a sound system for credit and securitization of technology enterprises, optimizing financing mechanisms [5][6] - Deepening green finance reforms and allowing insurance funds to invest in specific private equity and venture capital funds [6] - Allowing companies listed on the Hong Kong Stock Exchange from the Guangdong-Hong Kong-Macao Greater Bay Area to list on the Shenzhen Stock Exchange [7][8] Group 2: Market Reactions - Following the announcement, brokerage stocks and financial technology sectors saw significant gains, with specific ETFs like the Hong Kong Stock Connect Financial ETF rising by 2.14% [2][3] - The A-share market broke the 3400 key level, with the financial sector becoming a major highlight in the market [4] Group 3: IPO Market Dynamics - The Hong Kong IPO market is experiencing a revival, with May's fundraising exceeding 56 billion HKD, marking a four-year high [10] - Over 40 A-share companies plan to list in Hong Kong in 2025, with expected fundraising between 1300-1600 million HKD [12] - The A+H share listing trend is a significant driver for the IPO market [11] Group 4: Technology Empowerment - The "Opinions" highlight the importance of financial empowerment for technology, with potential for Shenzhen to replicate Hong Kong's success in attracting innovative companies [17][19] - The financial technology market is substantial, with a global market size exceeding 8.5 trillion USD, and China accounting for approximately 1.9 trillion USD [22] - Financial technology is growing rapidly at an annual rate of about 18%, with segments like digital payments and green finance technology seeing even higher growth [22] Group 5: Investment Opportunities - The article suggests that the current environment presents unique investment opportunities in both traditional finance and financial technology sectors [25] - The financial sector is undergoing significant changes, with traditional institutions transforming and fintech companies innovating [25][27] - Investors are encouraged to consider financial technology ETFs, which have shown remarkable performance since their inception [23][24]

一、 复盘： 缩量普涨大金融助力站上 3400 ，抱团开始瓦解风格正在切换中 1. 大盘指数走势及成交量强度表现 今日 A 股市场三大指数集体收涨，沪指涨 0.52% 报 3402.32 点，成功收复 3400 点整数关口，为 5 月 14 日以来首次；深成指涨 0.83% 报 10246.02 点；创业板指涨 1.21% 报 2061.87 点，创业板指领涨市场 。 从走势上看，早盘三大指数集体高开后震荡上扬，沪指快速突破 3400 点。盘中虽有一定波动，但整体保持强势格局。不过，午后市场出现一 定程度的冲高回落，显示出在当前位置上方抛压开始显现 。 成交量方面，沪深两市全天成交额 1.26 万亿，较上个交易日缩量 1599 亿。尽管成交额有所缩减，但连续第 10 个交易日突破 1 万亿，显示 市场活跃度仍维持在较高水平。市场在缩量背景下实现指数上涨，表明当前市场做多动能依然存在，且筹码锁定性相对较好，场内资金对市场 后续走势较为乐观，惜售情绪有所体现。但缩量也暗示市场进一步向上拓展空间可能需要更多的外力刺激，如增量资金入场或更有力的政策利 好。 | 文娱用品 | | 金属新材料 | | 赤殖V | | | ...

ETF进化论 突发异动！三大刺激来袭 原创 阅读全文 ...

作者 | 深鹏 数据支持 | 勾股大数 据（www.gogudata.com） A 股三大指数午后急跌，全日维持高开低走的形态。 截至收盘，沪指跌 0.44% ，深成指跌 0.86% ，创业板指跌 1.17% 。 五连阳后，大盘上攻 3400 点的节奏暂缓，前端时间领涨的科技消费成长股今天发生了回调，但低估值的医药、 银行继续在涨。 如何看待后市？还有哪些机会值得关注？ 复牌高 开 01 盘面上，港口航运、美容护理、种植业与林业等概念板块涨幅居前；军工装备、 IT 服务、半导体等概念板块跌幅 居前。创新药、医美概念、固态电池、宠物经济概念等活跃。 具体来看，医药股继续走强， CRO 、创新药方向再度爆发。 | 序号 | 代码 | 名称 | 现价 | 涨跌幅 | | --- | --- | --- | --- | --- | | | ୧୫୫୧୧୧ | 浩欧博 | 118.78 c | 20.00% | | 2 | 300485 | 赛升药业 | 12.78 c | 20.00% | | 3 | 300199 | 翰宇药业 | 17.81 c | 13.58% | | র্ব | 301331 | 恩威医药 | ...

以下文章来源于格隆汇投资学苑 ，作者格隆汇小编 格隆汇投资学苑 . 中国领先的全球投资研究平台。全球视野，下注中国！让普通的投资者能够享受到专业的投研服务，让 每一个个体的投资之路不再孤单和艰难。 今日 ， A 股市场 进入 震荡，三大指数 均收阴 ，上证指数 跌 0. 44 % ， 收至 3384.82 点 ；深证成指下跌 0. 86 % ，创业板指跌幅 达 1.17 % 。沪深 两 市 全天 成交额达 14154 亿元，显示市场活跃度维持在较高水平，但个股呈现普跌态势，超 400 0 只个股飘 绿，结构性分化特征凸显。 一、领涨板块：防御与成长共舞 1 、 银行板块今日成为稳定市场的核心力量。兴业银行股价刷新历史高点，民生银行、南京银 行、长沙银行等均创下阶段新高。这一强势表现源于多重政策红利：国企考核优化、保息差政 策落地、地方债务置换推进及金融互换便利等政策组合拳，为银行业筑牢根基。在市场震荡 期，银行股高股息与避险属性成为资金 " 避风港 " 。 2 、 创新药板块延续强劲涨势，昂利康、哈三联、众生药业等多股涨停。驱动因素主要来自三 方面： 1 ） 人口老龄化加速背景下医药消费刚需属性凸显 2 ） ...