注:本公告就中信建投景源债券型证券投资基金A类基金份额（基金代码：020426）、C类基金份额（基 金代码：020427）的大额申购（含大额定期定额投资）业务进行限制，即自2025年09月17日起单日每个 基金账户单笔或累计申购（含定期定额投资）中信建投景源债券A或中信建投景源债券C的金额均不应 超过20万元。单日每个基金账户单笔或累计申购（含定期定额投资）中信建投景源债券A或中信建投景 源债券C的金额超过20万元（不含），基金管理人有权全部或部分拒绝。自2025年10月09日起，该基金 将恢复办理正常大额申购（含大额定期定额投资）业务，届时将不再另行公告。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，9月16日中信建投基金管理有限公司发布《中信建投景源债券型证券投资基金暂停大额 申购（含大额定期定额投资）公告》。公告中提示，为保护基金份额持有人的利益，基金管理人决定将 2025年09月17日至2025年09月30日的该基金申购（含定期定额投资）业务设置最高限额，自2025年9月 17日起中信建投景源债券型证券投资 ...

人民财讯9月16日电，中信建投（601066）研报表示，美国8月通胀较强，符合市场预期，9月及年内多 次降息预期再次强化，铜金等金属也持续上涨，LME铜价达10064.5美元/吨，SHFE铜价上涨1.4%，钴 价也因库存与刚果(金)政策因素上升，持续看好持有矿产的建筑企业。 ...

| 股份代號: | 06066 | | --- | --- | | 上市法國名稱: | 中信建投証券股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 16/08/2025 - 16/09/2025 | 格隆汇9月16日丨根据联交所最新权益披露资料显示，2025年9月10日，中信建投证券(06066.HK)获易方达基金管理有限公司在场内以每股均价13.8918港元 增持141.85万股，涉资约1971万港元。 增持后，易方达基金管理有限公司最新持股数目为113,965,500股，持股比例由8.93%上升至9.04%。 | 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 相 | | --- | --- | --- | --- | --- | --- | --- | | | | 原因 | 股份數目 | | | (請參閱上述*註 有投票權股 (日 / 月 / 年) 福 | | | | | | | | 份自分比 | | | | | | | | ( % ) | | CS20250915E00 ...

香港联交所最新资料显示，9月10日，易方达基金管理有限公司增持中信建投（601066）证券 (06066)141.85万股，每股作价13.8918港元，总金额约为1970.55万港元。增持后最新持股数目约为1.14 亿股，最新持股比例为9.04%。 ...

智通财经APP获悉，香港联交所最新资料显示，9月10日，易方达基金管理有限公司增持中信建投证券 (06066)141.85万股，每股作价13.8918港元，总金额约为1970.55万港元。增持后最新持股数目约为1.14 亿股，最新持股比例为9.04%。 ...

Core Viewpoint - The new round of interest rate cuts by the Federal Reserve is expected to benefit the U.S. real estate chain, with historical data indicating that a reduction of 150-200 basis points in mortgage rates can lead to significant market movements [1] Group 1: Interest Rates and Real Estate - The U.S. real estate market is at a historical low point, and the demand for tools is expected to rise as the real estate cycle enters a recovery phase [2] - The elasticity of stock prices in the post-cycle sector is considerable, with past interest rate cuts leading to significant price increases for related companies [3] - The current high federal funds rate is expected to decline, driven by the need to alleviate interest payment burdens and rising unemployment pressures, making large-scale rate cuts a necessary policy choice [4] Group 2: Real Estate Market Position - The U.S. real estate market is experiencing low transaction volumes, but strong demand potential exists, which has been suppressed by the "rate lock" effect for 2-3 years [5] - The anticipated interest rate cuts, combined with the home-buying activities of millennials, are expected to effectively activate the U.S. real estate market [5] - The expected recovery in the U.S. real estate market in the first half of 2026 will further enhance the performance of the home appliance and tool industries [6]

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]

（责任编辑：贺翀 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 据中信建投消息，Oracle发布财报显示，其云订单暴涨至4550亿美元，较去年同期翻逾四倍。AI客 户对算力基础设施的需求显著增长，推动Oracle云业务和阿里云收入双双上升。中信建投建议关注算力 基础设施产业链，尤其是国内外AI算力市场的强劲需求。此外，中国移动启动空芯光缆招标，表明国 内互联网公司正加速试用新型光缆技术，以满足AI需求。中美将在西班牙讨论经贸问题，商务部对美 芯片反倾销调查也引发关注。 ...

Core Viewpoint - The report from CITIC Securities indicates that a new round of interest rate cuts by the Federal Reserve is imminent, which will benefit the U.S. real estate chain. A reduction in mortgage rates by 150-200 basis points historically leads to significant market movements, with beneficiary stocks typically seeing early valuation increases. The introduction of the "Big and Beautiful" plan has significantly widened the U.S. fiscal gap, creating potential for interest rate cuts. Given the current high-interest environment, the U.S. real estate market is at a critical low point, and rate cuts are expected to invigorate market activity, suggesting investment opportunities in home appliance and power tool export companies during this cycle [1]. Group 1 - The transmission of interest rates to real estate is precise, indicating a systematic reversal for the U.S. real estate chain. The strong cyclicality of the U.S. home appliance and tool industries is closely tied to changes in the real estate cycle, with revenue fluctuations of leading companies in these sectors closely mirroring trends in U.S. home sales. The U.S. real estate market is currently at a historical low, and demand for tools is expected to rise as the real estate cycle enters a recovery phase [2]. - The potential for stock price increases in the post-cycle sector is significant. Historical analysis of major interest rate cut cycles since the 21st century shows that a 150-200 basis point reduction in mortgage rates can lead to a doubling of stock prices for post-cycle companies. The predictability of interest rate policies has improved since the introduction of the dot plot by the FOMC in 2012, shortening the lag time for stock prices to respond to Fed rate cuts [3]. - The current high level of the federal funds rate is expected to decline. The "Big and Beautiful" plan will increase debt levels, further raising interest pressure. To mitigate risks from high interest payments and address rising unemployment, significant rate cuts are seen as a necessary policy choice for the White House. The weak job market is shifting the Fed's focus from controlling inflation to preventing recession, with expectations for rate cuts increasing significantly for September [4]. Group 2 - The U.S. real estate market is currently at its lowest transaction levels in nearly 20 years, with strong demand potential. However, the "rate lock" effect has suppressed activity for 2-3 years. The initiation of rate cuts, combined with home purchases by millennials, is expected to effectively activate the U.S. real estate market. Concerns about the effectiveness of moderate rate cuts in a high-interest environment are addressed by referencing recovery experiences from the 1980s, where moderate cuts in a high-rate environment also significantly boosted the real estate chain [5]. - With the gradual clarification of rate cut expectations, U.S. mortgage rates are likely to decrease, leading to a gradual recovery in the U.S. real estate market in the first half of 2026. This recovery is expected to further enhance the economic outlook for the home appliance and tool industries. Regarding tariffs, the pressure on Southeast Asian production capacities is not expected to exceed that of domestic capacities from 2024, making the overall impact manageable [6].

资料显示，西安中熔电气股份有限公司位于陕西省西安市高新区锦业二路97号中熔电气产业基地，成立 日期2007年4月20日，上市日期2021年7月15日，公司主营业务涉及熔断器及相关配件的研发、生产和销 售。主营业务收入构成为：电力熔断器及配件86.93%，激励熔断器12.77%，电子类熔断器0.30%。 截至发稿，艾翀累计任职时间7年327天，现任基金资产总规模1.62亿元，任职期间最佳基金回报 85.76%， 任职期间最差基金回报-23.39%。 杨志武累计任职时间2年287天，现任基金资产总规模3.14亿元，任职期间最佳基金回报41.68%， 任职 期间最差基金回报1.77%。 9月15日，中熔电气涨5.27%，截至发稿，报108.53元/股，成交1.81亿元，换手率2.46%，总市值106.71 亿元。 从基金十大重仓股角度 数据显示，中信建投基金旗下1只基金重仓中熔电气。中信建投致远混合A（019322）二季度持有股数 1.63万股，占基金净值比例为2.25%，位居第九大重仓股。根据测算，今日浮盈赚取约8.83万元。 中信建投致远混合A（019322）成立日期2024年1月30日，最新规模421.57万 ...