【导读】 年内逾百只科技主题基金申报，公募多维度深耕科创领域 中国基金报记者 张燕北 今年以来，公募基金对科技创新板块的布局力度持续加大。一方面，科技主题基金申报数量同比大幅增加，产品类型与参与机构呈现多元 化特征；另一方面，越来越多基金公司扩充科创领域投研力量，深耕科创赛道，挖掘科技发展红利。 一位公募人士指出，国家创新驱动发展战略持续推进，为科创企业提供了长期政策支持与成长空间。业内已达成共识，投资科创相关资产 是 "分享中国科技发展红利的核心路径"，尤其是在"中国智造"成果频出的背景下，政策对科技板块的扶持进一步强化了机构的长期布局信 心。 今年以来，科技板块是 A股表现最为强势的方向之一。近期，在"资金面+政策面+业绩面"多重催化下，权益市场强势上涨；以DeepSeek 大模型、国产AI芯片、创新药为代表的高新科技成果持续涌现，多只代表性科技指数年内业绩翻倍，显著的超额收益吸引基金公司加力布 局。 "从基本面看，TMT板块净利润保持高增长，人工智能、机器人、新能源汽车、创新药等细分领域飞跃式创新不断涌现，正式步入新的景气 周期。尤其是以大模型为代表的AI技术爆发，不仅带动了相关领域资本开支增长，更让A ...

来源：新华社 应巴西总统卢拉邀请，国家主席习近平将于9月8日在北京以视频方式出席金砖国家领导人线 上峰会并发表重要讲话。 ...

Core Viewpoint - The article emphasizes the resurgence of actively managed equity funds in the current bull market, highlighting their ability to generate excess returns and manage drawdowns effectively [2][3]. Group 1: Performance of Active Equity Funds - Over the past five years, 56.51% of the 2,780 actively managed equity funds have outperformed their benchmarks, with only 27.63% achieving a cumulative excess return of over 20% [5]. - Notably, 54 funds have achieved cumulative excess returns exceeding 100%, with top performers like Dongwu New Trend Value Line and Dongwu Mobile Internet achieving returns of 280.99% and 271.28%, respectively [5][9]. - A significant portion of these high-performing funds has maintained positive excess returns annually, indicating their consistent performance [6]. Group 2: Long Bull Funds - A subset of funds, referred to as "long bull funds," has consistently generated excess returns over the past five years, including Huashang Yuanheng and Huashang Runfeng, both exceeding 195% in cumulative excess returns [6]. - These funds are managed by experienced fund managers who employ strategies focused on risk-reward ratios and industry rotation [6][7]. Group 3: Drawdown Management - The average maximum drawdown for actively managed equity funds with positive excess returns over the past five years is 36.50%, with less than 20% of funds maintaining drawdowns below 20% [14][15]. - Funds with lower drawdowns tend to be those with lower equity exposure, but some equity-focused funds also exhibit strong drawdown control [15][16]. - Specific funds, such as those managed by Bao Wuke, have maintained drawdowns below 15% while having equity allocations above 70% [16].

Core Viewpoint - Recent inflow of capital into Hong Kong stocks has reached record levels, with fund managers optimistic about the market's potential for a bull run, supported by both fundamental and capital factors [2][4]. Group 1: Capital Inflow and Market Performance - As of September 2, the net inflow of southbound funds has exceeded 1 trillion HKD this year, marking a historical high since the launch of the Hong Kong Stock Connect in 2014 [4]. - There have been 43 trading days this year where net purchases exceeded 10 billion HKD, with 11 days surpassing 20 billion HKD [4]. - The continuous inflow of southbound funds is seen as a key driver for the market, similar to previous strong periods in 2012-2014 and 2016-2018 [4][5]. Group 2: Investment Preferences and Structural Changes - Southbound funds are primarily focused on high dividend, low valuation, and high growth sectors, with significant holdings in healthcare, finance, and technology [9]. - The investment landscape is shifting from being dominated by international institutional investors to a more balanced structure with local institutional investors gaining influence [8][9]. - The market is undergoing a profound revaluation process, with technology and consumer sectors now accounting for a significant portion of market capitalization, enhancing growth potential [8]. Group 3: Market Outlook and Future Trends - Despite recent underperformance compared to A-shares, the fundamentals for a bull market in Hong Kong stocks remain intact [11][12]. - The market is expected to benefit from potential interest rate cuts by the Federal Reserve, which could lead to increased liquidity and further inflows into Hong Kong stocks [13]. - Structural opportunities are emerging across various sectors, including new consumption and innovative pharmaceuticals, as well as traditional industries like finance and manufacturing [13].

来源：新华社 新华社快讯：日本首相石破茂7日在首相官邸举行的记者会上宣布辞去自民党总裁职务。 ...

【导读】融通基金邹曦卸任其管理的基金产品 中国基金报记者 方丽 又有一位公募"老将"出现人事变动。 日前，融通基金公告称 ，邹曦卸任其管理的基金产品，交由李进、何龙、万民远、程越楷等多位中生代基金经理接棒。 邹曦是行业内老将，投资生涯已超24年，他自2001年加盟融通基金之后，职位从行业分析师、宏观策略分析师、基金管理部总监、研究部 总监，到现任权益投资总监，始终在融通基金，直到卸任前都长期站在投资一线。 业内人士猜测，一次性卸任所有在管基金，邹曦有可能将离开融通 基金 。 邹曦卸任所管理基金 中生代基金经理接棒 融通基金发布的四则公告显示，邹曦卸任其管理的基金产品。 从业超24年老将 在人员流动频繁的基金行业，目前投资年限超过10年且始终站在投资一线的仅十余人，邹曦正是其中一员。 从2001年入行至今，经过24年的摸爬滚打，邹曦形成了自己的投资体系——产业趋势投资体系，其组合管理原则是"一般情况下Alpha，极 端情况下有限的Beta"。 邹曦对"周期"研究颇深，曾常常发出"把所有的股票都当作周期对待"的感慨。他还表示，产业趋势的驱动力可以分为三类，即社会体系变 革、经济体制改进和技术进步，相关产业趋势的分 ...

Core Viewpoint - The company, Sunflower, announced plans to acquire controlling stakes in Xi Pu Materials and 40% of Bei De Pharmaceutical, which is expected to constitute a significant asset restructuring [2][9][10]. Group 1: Acquisition Details - Sunflower plans to acquire the controlling stake in Xi Pu Materials and 40% of Bei De Pharmaceutical, with the transaction expected to involve issuing shares and/or cash payments [10][12]. - The valuation of Xi Pu Materials and Bei De Pharmaceutical has not been finalized, but preliminary assessments indicate that the transaction will meet the criteria for significant asset restructuring as per regulations [9][10]. - The major shareholder of Xi Pu Materials, Shanghai Xi Pu Technology, holds 53.94% of the company, while Bei De Pharmaceutical is currently 60% owned by Sunflower and 40% by Shaoxing Sunflower Investment [11][13]. Group 2: Financial Performance - In the first half of 2025, Sunflower reported a revenue decline of 8.33% to 144.42 million yuan and a net profit drop of 35.68% to 1.16 million yuan [19][21]. - The decrease in performance is attributed to reduced sales profits, changes in period expenses, and increased inventory impairment provisions [21]. - The market demand for the company's formulation drugs has declined, particularly affecting the sales of certain anti-infection products [21][22].

Group 1 - The Chinese government has initiated the delivery of emergency humanitarian aid to Afghanistan following a series of earthquakes, with the first batch including tents and blankets being transported by two Y-20 aircraft to Kabul [1] - A significant earthquake of magnitude 6.0 struck Afghanistan on August 31, followed by two additional quakes of magnitudes 5.5 and 5.1 on September 2 and September 5, respectively [1] - The Afghan Red Crescent Society confirmed that the eastern earthquake has resulted in 2,205 fatalities and 3,640 injuries [2]

Core Viewpoint - The public fund sales fee reform is a significant step towards reshaping the industry ecosystem, promoting high-quality development, and enhancing investor experience [2][20][24]. Group 1: Reform Overview - The reform is a crucial measure to implement the spirit of the new "National Nine Articles" and the "Public Fund Industry Fee Reform Work Plan" [4]. - The reform aims to lower investor costs, enhance investment experience, and encourage long-term investment behavior [15][17]. Group 2: Key Highlights of the Reform - The reform is expected to save investors approximately 30 billion yuan annually, with a fee reduction of about 34% based on average data from the past three years [7][24]. - It includes optimizing redemption fees and sales service fees, which promotes long-term investment behavior [8][17]. - The establishment of a direct sales service platform for institutional investors aims to improve service levels in the industry [9]. Group 3: Industry Response - Major institutions like China Construction Bank and E Fund express strong support for the reform, emphasizing a commitment to investor-centric practices [3][6]. - The reform is seen as a catalyst for enhancing industry capabilities and transforming the development model, focusing on investment management and customer service [11][12][14]. Group 4: Future Implications - The reform is expected to lead to a healthier and more sustainable wealth management ecosystem, encouraging a shift from scale-driven to performance-driven growth [16][18]. - It aims to attract long-term capital into the market, fostering a stable and sustainable investment environment [21][24].

来源：央视新闻 据日本广播协会7日报道，日本首相石破茂以"不愿党内分裂"为由，决定辞去职务。 ...