中银国际指出，《建议》强调以"超常规措施"推进核心科技自立自强，加快集成电路、基础软件等关键领域突破，推动国产操作系统、数据库及工业软件加 速发展。新兴科技与基础软件的协同创新，有望成为"十五五"时期推动新质生产力和科技高质量发展的重要引擎。 流动性方面，软件ETF盘中换手6.26%，成交3.66亿元。拉长时间看，截至10月31日，软件ETF近1月日均成交5.69亿元，排名可比基金第一。 规模方面，软件ETF近1周规模增长1989.01万元，新增规模位居可比基金第一。资金流入方面，拉长时间看，软件ETF近17个交易日内，合计"吸金"8.27亿 元。 截至10月31日，软件ETF近3年净值上涨10.46%。从收益能力看，截至2025年10月31日，软件ETF自成立以来，最高单月回报为39.35%，最长连涨月数为3个 月，最长连涨涨幅为69.40%，上涨月份平均收益率为10.06%。 日前，二十届四中全会提出高水平科技自立自强成为重要的发展目标。大国科技博弈背景下，核心软硬件国产化大势所趋，国产算力有望与国产软件实现共 振，共同推动国产化生态的构建，进而实现高水平科技自立自强的重要目标。 截至2025年11月3日 ...

Group 1: ETF Performance and Market Trends - The software ETF experienced a turnover of 7.16% during trading, with a transaction volume of 410 million yuan [3] - Over the past month, the software ETF's scale increased by 615 million yuan, indicating significant growth [3] - In the last 16 trading days, the software ETF attracted a total of 831 million yuan in inflows [3] - As of October 30, the software ETF's net value has risen by 12.61% over the past three years [3] - The highest monthly return since inception was 39.35%, with the longest consecutive monthly gains being three months and a maximum increase of 69.40% [3] - The average return during the months of increase was 10.06% [3] Group 2: Software Industry Performance - According to the Ministry of Industry and Information Technology, the software and information technology service industry in China showed a positive performance in the first three quarters of 2025, with software business revenue reaching 1111.26 billion yuan, a year-on-year increase of 13.0% [3] - The total profit of the software industry was 143.52 billion yuan, reflecting a year-on-year growth of 8.7% [3] - Software business exports amounted to 45.94 billion USD, marking a year-on-year increase of 6.6% [3] - Software product revenue maintained stable growth, reaching 238.54 billion yuan in the first three quarters, a year-on-year increase of 10.9%, accounting for 21.5% of the total industry revenue [3] - Basic software product revenue was 13.83 billion yuan, up 11.2% year-on-year, while industrial software product revenue was 23.59 billion yuan, reflecting a 9.8% increase [3] Group 3: Future Outlook and Investment Opportunities - Longjiang Securities noted that in the context of intensified Sino-U.S. technology competition, achieving complete autonomy in key areas is essential for China's technological development [4] - The domestic software systems have gradually developed innovative capabilities, transitioning from "usable" to "user-friendly" [4] - As key policy assessment years (such as 2025 and 2027) approach, the domestic chip and operating system industries related to the Xinchuang industry are expected to benefit [4] - As of September 30, 2025, the top ten weighted stocks in the CSI Software Service Index included companies like iFLYTEK, Tonghuashun, and Kingsoft Office, collectively accounting for 62.41% of the index [4] - Investors can also consider the software ETF linked fund (012620) to capitalize on AI software investment opportunities [4]

Core Insights - The Social Security Fund has made significant adjustments to its stock holdings in Q3, with 187 new positions, 156 increases, and 181 reductions in holdings across 615 stocks [1][2] Summary by Category New Positions - The Social Security Fund established new positions in 187 stocks during Q3, with notable entries including China Metallurgical Group, holding 100.36 million shares, and Longi Green Energy, with 79.08 million shares [1][2] - The highest ownership percentage among new positions is in Weilon Co., at 5.60%, followed by Huabao New Energy at 4.96% [1][2] Performance Metrics - Among the new positions, 113 companies reported year-on-year net profit growth, with Huazheng New Materials showing the highest increase of 1042.19% [2] - The average performance of new stocks since October has seen a decline of 1.71%, underperforming the Shanghai Composite Index [2] Notable Stocks - The best-performing new stock is Beifang Changlong, with a cumulative increase of 33.21%, followed by Shengyi Technology and Dongfang Tieta, which rose by 28.66% and 26.50%, respectively [2] - The largest decline was observed in Lexin Technology, which fell by 23.60% [2] Sector Distribution - The new positions span various sectors, including machinery, electric power equipment, basic chemicals, and pharmaceuticals, indicating a diversified investment strategy by the Social Security Fund [1][2]

Core Insights - The third quarter report reveals that the social security fund has newly invested in 153 stocks, with a total of 4,277 companies having disclosed their quarterly results [1] - The social security fund is present in 489 stocks, with movements including 124 increases, 141 decreases, and 71 stocks remaining unchanged in holdings [1] - The stocks with the highest new holdings by the social security fund include Jiuzhoutong, Jiangsu Jinzu, and Dongfang Tieta, with holdings of 70.84 million shares, 45.65 million shares, and 45.31 million shares respectively [1] Investment Activity - The social security fund's new investments include 92 companies that reported year-on-year net profit growth, with Huazheng New Materials showing the highest increase of 1,042.19% [2] - The average increase of newly invested stocks since October is 0.22%, underperforming the Shanghai Composite Index [2] - Notable performers among the newly invested stocks include Beifang Changlong with a cumulative increase of 41.55%, followed by Shengyi Technology and Dongfang Tieta with increases of 28.32% and 23.29% respectively [2] Stock Holdings Overview - The top new stocks held by the social security fund include: - Weilon Co., Ltd. with 858.76 million shares, representing 5.60% of circulating shares [2] - Huabao New Energy with 378.08 million shares, representing 4.96% [2] - Changhua Chemical with 259.07 million shares, representing 4.85% [2] - Other significant holdings include Dongfang Tieta with 45.31 million shares and Jiankong Coal with 44.67 million shares, both representing over 2% of circulating shares [2][3] Performance Metrics - The net profit growth leaders among newly invested stocks include: - Huazheng New Materials with a net profit of 62.61 million yuan, a year-on-year increase of 1,042.19% [2] - Tuowei Information and Sanyou Medical with increases of 852.03% and 623.19% respectively [2] - The stock with the largest decline is Hainan Huatie, which has decreased by 23.24% [2]

Group 1 - The changes in heavy holdings of social security funds and public funds are closely monitored as they represent core forces in the capital market [1] - As of October 29, 3108 stocks have public funds among their top ten circulating shareholders, with Ningde Times, Kweichow Moutai, and Zhongji Xuchuang being the top three by market value [1] - Social security funds are present in the top ten circulating shareholders of 456 stocks, with a total holding market value of 117.77 billion yuan, including 19 stocks with holdings exceeding 1 billion yuan [1] Group 2 - Social security funds show a preference for leading companies, concentrating on them to enhance portfolio stability, reflecting a long-term value investment philosophy [1] - The technology innovation sector has become a new allocation direction, with significant increases in industries like communications and electronics that align with industrial upgrades [1][2] - Both social security and public funds have shown a strong interest in the electronics industry, with notable increases in holdings of companies like Xinwei Communication and Yilian Network [2] Group 3 - The commonality between social security funds and public funds lies in their core demand for long-term asset preservation and appreciation, though their operational styles differ [3] - Public funds tend to be more flexible in seizing investment opportunities due to dual pressures of assessment and scale, leading to higher concentration in their investment portfolios [3] - Social security funds focus on long-term performance benchmarks and have a more stable investment style, often holding stocks for longer periods [3]

10月29日，拓维信息盘中下跌2.01%，截至10:14，报34.05元/股，成交8.31亿元，换手率2.12%，总市值 428.97亿元。 分红方面，拓维信息A股上市后累计派现1.38亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，拓维信息十大流通股东中，南方中证500ETF（510500）位居第三 大流通股东，持股1463.68万股，相比上期减少32.11万股。香港中央结算有限公司位居第四大流通股 东，持股1251.61万股，相比上期增加780.78万股。易方达中证人工智能主题ETF（159819）位居第六大 流通股东，持股820.18万股，相比上期减少42.70万股。嘉实中证软件服务ETF（159852）位居第七大流 通股东，持股536.36万股，相比上期增加132.94万股。华富中证人工智能产业ETF（515980）位居第八 大流通股东，持股427.82万股，为新进股东。华夏中证人工智能主题ETF（515070）位居第九大流通股 东，持股314.71万股，相比上期增加24.67万股。诺安积极回报混合A（001706）退出十大流通股东之 列。 责任编辑：小浪快报 今年以来拓维 ...

Economic Information - The People's Bank of China emphasizes a cautious approach towards the development of stablecoins and will continue to combat domestic virtual currency operations to maintain financial order [2] - The China Securities Regulatory Commission (CSRC) has issued guidelines to strengthen the protection of small investors in the capital market, enhancing monitoring of abnormal trading behaviors and ensuring transparency regarding delisting risks [2][6] - October's polysilicon production is expected to reach approximately 134,000 tons, exceeding market expectations, while some leading companies plan to reduce production in November [3] Company Updates - Victory Technology reported a net profit of 1.102 billion yuan for Q3, a year-on-year increase of 260.52%, but a quarter-on-quarter decrease of 9.88% [5] - Taicheng Light's Q3 revenue was 386 million yuan, a year-on-year decrease of 4.98%, while net profit was 86.9765 million yuan, a year-on-year increase of 31.20% but a quarter-on-quarter decrease of 7.5% [5] - Several companies, including Tongrun Equipment and Jingji Agriculture, announced plans to reduce their shareholdings by up to 3% [7] Overseas Market Updates - International precious metal futures saw a significant decline of over 3%, with COMEX gold futures dropping 3.4% to $3,997 per ounce and silver futures falling 3.61% to $46.83 per ounce [5] - The UK government has cut the support scale for offshore wind farms by 18% to £900 million, while providing an £1.1 billion budget for renewable energy support auctions [5]

| | | 10.27上市公司盘后增持情况 | | --- | --- | --- | | 1 | 云意电气 | 实际控制人拟增持1000万元-2000万元公司股份 | | | | 10.27上市公司盘后减持情况 | | 1 | 京墓智农 | 控股股东京基集团拟减持不超3.00%股份 | | 2 | 天能運工 | 高管赵波、胡鹏鹏拟合计减持不超0.09%股份 | | 3 | 通润装备 | 股东拟合计减持不超3%公司股份 | | ব | 万里扬 | 股东华润信托·华颖16号计划减持不超2%公司股份 | | ટ | 预维信息 | 高管拟合计减持不超0.0068%股份 | | 6 | 铭利达 | 股东泰安塞晖及一致行动人拟合计减持不超1.00%股份 | | 7 | 长绸科技 | 计划减持不超总股本的2%已回购股份 | | 8 | 康众医疗 | 股东拟询价转让总股本的5.33% | | g | 中国核建 | 股东中国信达拟减持不超1%股份 | | 10 | 福龙马 | 控股股东张桂丰拟减持不超1.50%公司股份 | | 11 | 无线传媒 | 初步确定的询价转让价格为29.11元/股 | 据统计，10月27日，云意电 ...

Group 1 - The core point of the news is the disclosure of shareholding changes by various A-share listed companies, including both increases and decreases in shareholdings [1][2] Group 2 - Yunyi Electric's actual controller plans to increase shareholdings by 10 million to 20 million yuan [2] - Several companies, including Jingji Zhino, Tianneng Heavy Industry, and Tongrun Equipment, have announced plans to reduce their shareholdings, with Jingji Group intending to reduce no more than 3.00% of its shares [2] - Other companies such as Wanliyang and Tuo Wei Information also reported shareholding reductions, with Wanliyang's shareholder planning to reduce no more than 2% of its shares [2] - The report indicates that a total of 11 A-share listed companies have disclosed shareholding reductions [1][2]

云意电气：实际控制人、董事长兼总经理付红玲拟1000万元-2000万元增持公司股份 通润装备（维权）：股东珠海悦宁及其一致行动人珠海康东拟合计减持不超3%公司股份 中国核建：股东中国信达拟减持不超过1%公司股份 铭利达：股东泰安赛晖及其一致行动人泰安赛跃拟合计减持不超1%公司股份 天能重工：高管赵波、胡鹏鹏拟合计减持不超0.09%公司股份 拓维信息：高管赵军、柏丙军、廖秋林拟合计减持不超0.0068%公司股份 万里扬：股东华润信托·华颖16号拟减持不超2%公司股份 长缆科技：拟减持不超总股本的2%已回购股份 福龙马：控股股东、实际控制人张桂丰拟减持不超1.50%公司股份 ...