Core Insights - The 2025 annual performance of AI-themed funds has drawn market attention, with significant adjustments in their holdings during the reporting period [1] - There is a divergence among fund managers regarding investment opportunities in the AI sector for 2026, despite some funds experiencing substantial net value increases due to their investments in AI application stocks [9] Fund Adjustments - The top-performing active equity funds have made considerable adjustments to their AI asset holdings, with some funds increasing their positions in leading companies while others have reduced their stakes [1][4] - For instance, the fund Yongying Technology Select increased its holdings in Dongshan Precision, Jingwang Electronics, and others, while reducing its stake in Zhongji Xuchuang [1][4] - The fund Zhongou Digital Economy has also shifted its focus, increasing investments in domestic AI and AI infrastructure while reducing exposure to smart driving and edge AI [1][6] Sector Consensus and Divergence - There is a consensus among high-performing funds regarding the PCB sector, with several funds increasing their positions in companies like Dongshan Precision and Shengxin Technology [5][6] - However, there are notable divergences in the strategies of different funds regarding specific AI sub-sectors, such as the varying approaches to Zhongji Xuchuang [4][5] Future Outlook - Fund managers are considering how to capitalize on the expanding AI market, with a focus on the potential for significant breakthroughs in AI applications and the ongoing competition in the large model sector [10][11] - Some managers emphasize the importance of balancing growth potential with safety margins, while others highlight the need for diversified investments to mitigate risks associated with high valuations in the AI sector [12]

CPO等算力硬件股局部走低，新易盛盘中跌超5%，中际旭创、生益电子跌超4%，工业富联、东山精 密、中富电路跌超3%。 ...

上证报中国证券网讯（卢伊 记者 严晓菲）1月22日，A股两融余额为27249.13亿元，较上一交易日增加38.90亿元，占A股流通市值比例为2.62%。当日两融 交易额为2686.14亿元，较上一交易日增加78.01亿元，占A股成交额的9.88%。 个股方面，53只个股获融资净买入额超1亿元。中国平安获融资净买入额居首，净买入6.58亿元；融资净买入金额居前的还有中际旭创、润泽科技、保利发 展、中超控股、龙芯中科、新易盛、贵州茅台、沃尔核材等。 | 序号 | 证券代码 ◆ | 证券简称 = | 交易日期 = | 融资净买入额(万元) ◀ | | --- | --- | --- | --- | --- | | 2 | 601318.SH | 中国平安 | 2026-01-22 | 65,792.8 | | 3 | 300308.SZ | 中际旭创 | 2026-01-22 | 55,874. | | ব | 300442.SZ | 润泽科技 | 2026-01-22 | 41,303.5 | | 5 | 600048.SH | 保利发展 | 2026-01-22 | 40,270.2 | | ଚି | 0024 ...

1月22日，A股两融余额为27249.13亿元，较上一交易日增加38.90亿元，占A股流通市值比例为2.62%。当日两融交易额为2686.14亿元，较上一交易日增加 78.01亿元，占A股成交额的9.88%。 资金流向方面，申万31个一级行业中有18个行业获融资净买入，其中，电子行业获融资净买入额居首，当日净买入17.49亿元；获融资净买入居前的行业还 有通信、非银金融、基础化工等。 个股方面，53只个股获融资净买入额超1亿元。中国平安获融资净买入额居首，净买入6.58亿元；融资净买入金额居前的还有中际旭创、润泽科技、保利发 展、中超控股、龙芯中科、新易盛、贵州茅台、沃尔核材等。 | 序号 | | | | | | --- | --- | --- | --- | --- | | | 证券代码 = | 证券简称 = | 交易日期 = | 融资净买入额(万元) ◀ | | 2 | 601318.SH | 中国平安 | 2026-01-22 | 65.792.8 | | 3 | 300308.SZ | 中际旭创 | 2026-01-22 | 55,874. | | ব | 300442.SZ | 润泽科技 | 202 ...

基金去年四季报显示，2977只股现身基金重仓股名单，其中基金持股比例超10%的共有107只。 注：统计范围仅包含A股公司；本文系新闻报道，不构成投资建议 一般来说，基金控盘比例高的个股都有多家基金扎堆持有。统计显示，基金持股比例超10%的个股中， 100家以上基金扎堆持有的有42只股，50~99家基金集体持有的有29只股。持有基金家数最多的是宁德 时代，共有2056家基金抱团持有，合计持股比例为11.63%；持有基金家数较多的还有中际旭创、紫金 矿业、新易盛等，分别有1809家、1800家、1396家基金持有。 按所属板块统计，基金高比例持有个股中，创业板有27只、科创板有42只、沪深主板有31只、北交所有 7只。行业分布上，主要集中在电子、医药生物、电力设备行业，分别有28只、20只、11只个股上榜。 从业绩来看，共有21只股公布了2025年业绩预告，业绩预告类型显示，预增16只、预降2只、预亏2只， 以预计净利润增幅中值来看，净利润增幅最大的是佰维存储，预计2025年净利润同比增长473.71%，其 次是长芯博创、百奥赛图等，净利润同比增幅分别为378.70%、303.57%。（数据宝。（数据宝） | 证 ...

（文章来源：每日经济新闻） 每经AI快讯，算力概念板块领跌，下跌1.03%。其中，海天瑞声下跌6.28%，青云科技下跌4.93%，优刻 得下跌3.38%，龙芯中科、工业富联、新易盛跌超2%。 ...

③为保持银行体系流动性充裕，1月23日，中国人民银行将以固定数量、利率招标、多重价位中标方式 开展9000亿元MLF操作，期限为1年期。(王宇露) ②1月22日，公募基金2025年四季报披露完毕。公募基金最新前十大重仓股出炉，分别为中际旭创 （300308）、新易盛（300502）、宁德时代（300750）、腾讯控股、紫金矿业（601899）、阿里巴巴- W、寒武纪、立讯精密（002475）、贵州茅台（600519）、东山精密（002384）。 中证网讯①1月22日，A股通用航空板块再度走强，多只航空主题ETF大涨近4%，军工、卫星等相关主 题ETF普遍涨超3%；此前热度较高的半导体设备、电网、黄金股等板块集体降温，多只半导体设备主 题ETF跌超2%。 ...

Group 1: Commercial Aerospace - The Chinese commercial aerospace sector is entering a new phase aimed at large-scale launches and commercial closed-loop systems, with significant breakthroughs expected in rocket capacity over the next 3 to 5 years [1] - By 2025, China's commercial aerospace is projected to complete 50 launches, accounting for 54% of total space launches, with 25 commercial rockets launched and 311 commercial satellites in orbit, representing 84% of total satellites [1] - The capital market for commercial aerospace companies is accelerating, with several leading firms preparing for IPOs, including Blue Arrow Aerospace and Zhongke Aerospace [1] Group 2: Public Fund Performance - The latest public fund reports reveal that the top ten holdings include companies like Zhongji Xuchuang, Ningde Times, and Tencent, with notable increases in holdings for companies like Zhongji Xuchuang, which saw an increase of 22.602 billion yuan [2] - The automotive industry is facing cost pressures due to rising prices of memory chips and metals, impacting supply chain dynamics and competition [2] Group 3: Biopharmaceutical Industry - Over 50 biopharmaceutical companies have disclosed their 2025 performance forecasts, with nearly 50% showing positive expectations, particularly in the CXO sector, where WuXi AppTec anticipates a revenue increase of approximately 15.84% [3] - The biopharmaceutical industry is expected to enter a new phase of high-quality development as structural reforms and supportive policies continue to evolve [3] Group 4: Fundraising and Market Trends - The public fund market has seen a resurgence, with several equity funds raising over 7 billion yuan, indicating a positive trend in active equity fund performance [4] - The Shanghai Suiruan Technology Co., Ltd. has received approval for its IPO, aiming to raise 6 billion yuan for product development and business expansion [5] Group 5: Aluminum Market - The aluminum market has shown strong performance, with prices rising over 12% since mid-December 2025, supported by favorable macroeconomic conditions and demand for aluminum in various applications [6] - The copper-aluminum price ratio exceeding 4 suggests a potential shift towards aluminum in sectors like air conditioning, indicating new demand growth [6] Group 6: Banking Sector - Five listed banks have reported a year-on-year increase in net profit for 2025, with improvements in non-performing loan ratios for three banks [9] - The banking sector is expected to maintain stable performance, supported by improved funding costs and a potential stabilization of net interest margins [9] Group 7: Chemical Industry - The chemical industry is experiencing positive performance, with over 60% of companies reporting improved earnings, driven by rising prices of certain chemical products [10] - The DOP market is expected to maintain upward momentum due to strong raw material prices and limited supply, indicating a stable support for pricing [10]

Monetary Policy and Economic Measures - The central bank governor Pan Gongsheng stated that a moderately loose monetary policy will continue in 2026, with room for further cuts in reserve requirement ratios and interest rates to maintain ample liquidity [3] - The first batch of 936 billion yuan of ultra-long special government bonds has been allocated to support approximately 4,500 projects in various sectors, expected to drive total investment exceeding 460 billion yuan [4] - The People's Bank of China will conduct a 900 billion yuan MLF operation on January 23, net injecting 700 billion yuan into the market, marking the 11th consecutive month of increased operations [4] Consumer and Investment Trends - State-owned banks collectively announced the implementation of personal consumption loan interest subsidy policies, allowing some high-quality clients to enjoy effective interest rates in the "2%" range, lower than current housing loan rates [3] - Public funds have focused their fourth-quarter 2025 positions on core sectors such as electronics and power equipment, with Zhongji Xuchuang becoming the largest holding stock [3] Market Performance - The A-share market saw a slight increase, with the Shanghai Composite Index rising 0.14% to 4122.58 points, and the Shenzhen Component Index increasing by 0.5% [6] - The Hong Kong stock market also experienced minor fluctuations, with the Hang Seng Index rising 0.17% to 26629.96 points, and net inflows from southbound funds amounting to 5.166 billion HKD [6] Corporate Developments - Alibaba Group has decided to support its chip company "Pingtouge" for independent listing, with plans for restructuring to a mixed-ownership enterprise [7] - Xiaomi Group has initiated a stock repurchase plan of up to 2.5 billion HKD [9] - Nanjing Bank reported a net profit growth of 8.08% year-on-year for 2025 [9] Regulatory and Policy Updates - The State Administration for Market Regulation has issued a red card for the first time in the public utility sector, prohibiting a merger between two gas companies [10] - Nine departments jointly issued opinions to promote high-quality development in the pharmaceutical retail industry, encouraging mergers and acquisitions among retail pharmacies [10] Economic Indicators - The unemployment rate for urban labor aged 16-24 was reported at 16.5% in December 2025, while the rate for those aged 25-29 was 6.9% [5] - The National Bureau of Statistics reported a 28.1% year-on-year increase in sales revenue for the smart device manufacturing industry in 2025 [10]

数据显示，公募基金2025年四季度仓位聚焦电子、电力设备等核心赛道，光模块龙头中际旭创和新易 盛，超越宁德时代和腾讯控股，成为主动权益基金前两大重仓股。 公募基金2025年四季报披露收官。 中际旭创登顶主动权益基金头号重仓股 天相投顾数据显示，截至2025年四季度末，中际旭创登顶主动权益基金头号重仓股，位列第二到第十大 重仓股的分别是新易盛、宁德时代、腾讯控股、紫金矿业、阿里巴巴-W、寒武纪-U、立讯精密、贵州 茅台、东山精密，覆盖AI、新能源、互联网、消费、电子等方向。 多股获基金锁定20%以上的流通筹码 从基金持仓集中度来看，据Wind数据，宁德时代、中际旭创、紫金矿业、新易盛、中国平安、腾讯控 股、寒武纪-U、贵州茅台、美的集团等个股最受公募青睐，均获超千只基金持有。从持股锁定程度来 看，2025年四季度末，中际旭创、新易盛、东山精密、浙江荣泰、海思科、斯菱智驱、恒勃股份等个 股，基金持股数量占流通A股比例均超20%，筹码集中效应显著。 板块配置上，公募基金对成长板块的偏好持续升温。2025年四季度末，基金持股市值占科创板、创业板 流通市值的比例均超5%，位居各板块前列。相较于三季度末，基金对创业板的仓 ...