AI、锂电、军工是赵诣目前关注的三大方向。 作者 | 市值风云基金研究部 编辑 | 小白 好险！要不是基金净值在三季度跑出45.5%的成绩，就要带着坚守三年超25万的基民们吃面了！ 泉果基金赵诣捏了一把汗，其管理的独门基泉果旭源三年持有混合成立于2022年10月18日，自基金成 立以来基金净值增长4.75%，在打开封闭期前夕才勉强拉红。 （来源：市值风云APP） 但无论是与业绩基准还是与沪深300指数对比，泉果旭源三年持有混合的成绩均不及预期，以A份额 为例，2023年、2024年均大幅跑输，如果不是封闭三年，能坚持到盈利再赎回的基民可能不多。 | 年份 | 泉果旭源三年持有期混合A(%) | 泉果旭源三年持有期混合A业绩基 ... | 沪深300(%) | 同类排名 | | --- | --- | --- | --- | --- | | 2025 | 39.52 | 16.28 | 16.71 | 1183/4504 | | 2024 | 1.89 | 14.32 | 14.68 | 2277/4112 | | 2023 | -25.87 | -7.27 | -11.38 | 3176/3506 | | 2 ...

截至6月30日，应流股份股东户数2.26万，较上期增加5.56%；人均流通股30095股，较上期减少5.27%。 2025年1月-6月，应流股份实现营业收入13.84亿元，同比增长9.11%；归母净利润1.88亿元，同比增长 23.91%。 资金流向方面，主力资金净流出2995.72万元，特大单买入2880.78万元，占比5.87%，卖出3602.51万 元，占比7.34%；大单买入7868.14万元，占比16.04%，卖出1.01亿元，占比20.67%。 应流股份今年以来股价涨177.12%，近5个交易日涨13.45%，近20日涨25.42%，近60日涨42.26%。 今年以来应流股份已经1次登上龙虎榜，最近一次登上龙虎榜为10月17日，当日龙虎榜净买入5474.31万 元；买入总计2.26亿元 ，占总成交额比23.74%；卖出总计1.72亿元 ，占总成交额比18.00%。 资料显示，安徽应流机电股份有限公司位于安徽省合肥市经济技术开发区繁华大道566号，成立日期 2006年4月25日，上市日期2014年1月22日，公司主营业务涉及 专用设备高端零部件的研发、生产、销 售,产品应用于石油天然气、清洁高效发电 ...

格隆汇10月24日｜A股市场可控核聚变概念股走强，其中，皖仪科技涨超13%，中国核建涨7%，斯瑞新 材涨6%，应流股份涨超5%。 ...

2025 年 10 月 23 日 行业研究 人类终极能源，行业资本开支进入扩张期 ——可控核聚变行业系列报告之二 要点 AI 驱动用电结构重构，聚变能源战略价值凸显，行业融资显著提速。核聚变是 指两个较轻的原子核结合形成一个较重的原子核，并释放大量能量的核反应过 程。聚变能源具有高能量密度、原料相对易得、安全性高、零碳排放等优势，已 成为理论上最接近"终极能源"的现实路径。据麦肯锡预测，伴随云计算、加密 货币、AI 需求激增，预计 2050 年数据中心用电量将占全球总用电量的 5%-9%。 Open AI 联合创始人山姆·奥特曼、谷歌及 Alphabet 等 AI 巨头均对聚变产业链 进行了前瞻性投资，谷歌、微软还分别与 CFS、Helion 签订了购电协议。据 Fusion Energy Base 数据，2021 年起全球聚变行业融资规模显著攀升，截至 2025 年 7 月，全球聚变能源领域累计股权融资总额达 97 亿美元。FIA 数据显示，约 76% 的受访聚变公司预计将在 2035 年前实现聚变电能并网。 国内多路线百花齐放，步入招标大年。我国承担了 ITER 计划多个核心关键部件 制造任务，正从 IT ...

燃气轮机主旋律！核心零部件迪威尔应流股份联德股份 20251022 摘要 数据中心电力需求激增：美国数据中心电力消耗量预计到 2028 年将达 到 325 至 580 TWh，复合增速高达 27%。全球范围内，到 2030 年数 据中心电力需求将超过 1,000 TWh，对电网构成巨大压力。 燃气轮机成为最优解决方案：燃气轮机建设周期短、启动快、运行稳定， 与数据中心建设周期高度契合。审批周期仅约 10 个月，远低于风电和 光伏项目，能满足 7×24 小时高负荷可靠性需求。 全球燃气轮机市场高增长：2023 年全球燃气轮机市场销量约为 40-44 GW。三菱重工预计 2024 年至 2026 年平均销量将达 60 GW。今年第 二季度全球订单同比增长 38%至 21 GW，北美市场在数据中心需求拉 动下显著领跑。 主要厂商积极扩产：GE、西门子、三菱重工等燃气轮机巨头订单大幅增 长，并纷纷宣布扩产计划，预示行业对未来持续增长的信心。三菱重工 计划未来两年内将产能翻倍，西门子和 GE 也计划提升 50%的生产能力。 核心零部件国产替代机遇：欧美去工业化趋势下，高端铸锻件生产周期 较长，为国内企业切入全球燃气轮机 ...

10月22日，应流股份（603308）发行的可转债——应流转债上市交易。它的发行规模为15亿元，规模适 中，债券评级为AA+，评级高。 应流转债对应的正股当前股价为36.14元，转股价为30.47，转股价值为118.61，转股价值高。若以现在 的角度来看，应流转债的开盘价应该就触发了涨幅临停达到130元，而且若正股的股价没有大幅波动的 话，它应该可以达到上市首日的最大价格157.30元，让中签的股民获得一份王者级肉签。 这不禁让人发问：怎么现在的市场这么"硬气"？一年多前还萎靡不振、动不动就崩盘，如今却韧性十 足，跌了敢拉，拉了还涨？答案就俩字：趋势。 别小看这玩意儿，它就像股市里的"惯性定律"。一旦车子挂上前进挡，踩一脚油门，它就会顺着坡往上 冲。现在的行情，正处在这么一个"上升通道"的加速带里。你看那K线图，像不像一个不断抬高的楼 梯？每次回调，不是崩盘，反而是"打折促销"——主力洗洗浮筹，散户吓得交出筹码，结果转头又是一 波拉升。 而在下跌通道里呢？那可就惨了。反弹？听着挺美，但往往是"回光返照"。你以为是反转，其实是主力 拉高出货，一不小心就成了"接盘侠"。 所以，为什么现在大盘这么"刚"？因为它已经 ...

Group 1 - The A-share market saw a rise in controllable nuclear fusion concept stocks, with notable increases in share prices for several companies [1] - An Tai Technology (安泰科技) experienced an 8.03% increase, with a total market capitalization of 22 billion and a year-to-date increase of 91.08% [2] - Si Rui New Materials (斯瑞新材) rose by 7.08%, with a market cap of 14 billion and a year-to-date increase of 107.39% [2] - Guo Ji Heavy Industry (国机重装) increased by 6.41%, with a market cap of 26.3 billion and a year-to-date increase of 18.51% [2] - Ying Liu Co., Ltd. (应流股份) saw a 4.81% rise, with a market cap of 24.4 billion and a year-to-date increase of 155.61% [2] - Jing Da Co., Ltd. (精达股份) increased by 4.18%, with a market cap of 21.9 billion and a year-to-date increase of 41.41% [2] - Jin Bei Electric (金杯电工) rose by 3.15%, with a market cap of 9.145 billion and a year-to-date increase of 29.87% [2] - China Nuclear Engineering (中国核建) increased by 2.82%, with a market cap of 32.9 billion and a year-to-date increase of 21.96% [2]

Core Viewpoint - The A-share market has seen a rise in stocks related to controllable nuclear fusion, indicating growing investor interest in this sector [1] Group 1: Stock Performance - Antai Technology increased by 8% [1] - Srei New Materials rose by 7% [1] - China National Heavy Machinery Corporation saw an increase of over 6% [1] - Yingliu Holdings and Jingda Shares both rose by over 4% [1] - Jinbei Electric increased by over 3% [1] - China Nuclear Engineering Corporation rose by nearly 3% [1]

Core Insights - The core viewpoint of the article highlights the significant growth of the "Quanguo Xuyuan Three-Year Holding A" fund, which reached a scale of 19.069 billion yuan as of September 30, 2025, marking a quarterly increase of nearly 6 billion yuan, making it the largest among disclosed equity funds for the third quarter [1][2]. Fund Performance - The fund achieved a return of 43.10% over the past six months and 41.61% over the past year, ranking favorably among its peers, with a notable quarterly increase of 45.58% in Q3, outperforming the average of similar products and the CSI 300 index [2]. - Since its inception on October 18, 2022, the fund has delivered a total return of 1.80% and an annualized return of 0.60%, ranking 1980 out of 3209 in its category [4]. Investment Strategy - The fund manager, Zhao Yi, emphasized a "dual-end allocation" strategy to adapt to market changes, focusing on technology AI and sectors in recovery, particularly in new energy (especially the lithium battery supply chain) and military industry [5]. - In the AI sector, the fund is concentrated on three main lines: efficiency-enhancing internet companies like Meta, companies driven by new application scenarios such as Palantir, and cloud service providers like Microsoft [6]. - In the new energy sector, the fund is particularly focused on the lithium battery supply chain, noting a slowdown in fixed asset investment while demand remains high, leading to an improving supply-demand structure [6]. Portfolio Adjustments - The fund's top ten holdings include major companies such as Ningde Times, Tencent Holdings, and Enjie Co., with a total market value exceeding 12.877 billion yuan [9]. - Significant adjustments were made in the portfolio, with a notable reduction of 37.52% in holdings of Keda Li, while new additions included Tianqi Lithium and SMIC, indicating a continued focus on lithium materials and domestic semiconductor sectors [9]. Market Outlook - Zhao Yi expressed optimism about the long-term positive trend of the Chinese equity market, citing signs of easing in U.S. tariff policies and potential liquidity improvements, which could inject more momentum into the A-share market [9].

Core Viewpoint - The stock of Yingliu Holdings has shown significant growth this year, with a year-to-date increase of 148.04%, indicating strong market performance and investor interest [1][2]. Company Overview - Yingliu Holdings, established on April 25, 2006, and listed on January 22, 2014, is located in Hefei, Anhui Province. The company specializes in the R&D, production, and sales of high-end components for specialized equipment, serving sectors such as oil and gas, clean energy, and high-end machinery [2]. - The revenue composition of Yingliu Holdings includes 53.59% from mechanical equipment components, 43.94% from pump and valve parts, and 2.48% from other sources [2]. - The company is categorized under the mechanical equipment industry, specifically in general equipment and metal products, and is associated with concepts such as the Belt and Road Initiative, nuclear power, and Industry 4.0 [2]. Financial Performance - For the first half of 2025, Yingliu Holdings reported a revenue of 1.384 billion yuan, reflecting a year-on-year growth of 9.11%. The net profit attributable to shareholders was 188 million yuan, marking a 23.91% increase compared to the previous year [2]. - Since its A-share listing, Yingliu Holdings has distributed a total of 558 million yuan in dividends, with 250 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Yingliu Holdings was 22,600, an increase of 5.56% from the previous period. The average number of tradable shares per shareholder decreased by 5.27% to 30,095 shares [2]. - The top ten circulating shareholders include significant institutional investors, with the second-largest being Quan Guo Xu Yuan Mixed A, holding 32.79 million shares, unchanged from the previous period [3].