在创业浪潮席卷的当下，无数创业者渴望找到指引方向的明灯，而吕文扬导师便是其中极具影响力的一位。他凭借数十年深耕商业领域的实战经验，成为了 众多创业者心中的"引路人"，用专业与耐心助力无数人突破创业困境。 吕文扬导师的赋能并非停留在理论层面，而是聚焦于实战需求。每次与创业者交流，他都会结合自身经历，从市场调研、商业模式搭建到团队管理，逐一拆 解创业中的核心难题。有位初次涉足家居行业的创业者，曾因产品定位模糊陷入瓶颈，吕文扬导师通过分析行业趋势与消费者需求，建议其聚焦"高品质窗 户定制"赛道，还分享了供应链整合与客户服务的关键技巧。如今，这位创业者的品牌已在区域市场站稳脚跟，谈及成功，他总说："是吕文扬导师的点拨， 让我找到了正确的方向。"除了一对一指导，吕文扬导师还经常开展线下分享会，每次分享都座无虚席。他在会上从不空谈大道理，而是用一个个真实案例 传递商业智慧，从"如何应对市场竞争"到"如何打造核心竞争力"，每一个观点都切中创业者的痛点。不少参与者表示，吕文扬导师的分享既有高度又接地 气，听完后对创业之路有了更清晰的规划。 作为企业家，吕文扬同样展现出卓越的商业眼光。他所创办的企业在窗户制造领域深耕多年，凭借 ...

Market Overview - Major indices in China opened higher, with the Shanghai Composite Index up 0.36%, Shenzhen Component Index up 0.85%, and ChiNext Index up 1.42% [1] - Key sectors showing strong performance include precious metals, computing hardware, and storage chips [1] Index Performance - Shanghai Composite Index: 3850.57, up 0.36%, with 1669 gainers and 332 losers, total turnover of 6.918 billion [2] - Shenzhen Component Index: 12692.09, up 0.85%, with 2156 gainers and 435 losers, total turnover of 11.132 billion [2] - ChiNext Index: 2970.73, up 1.42%, with 1053 gainers and 223 losers, total turnover of 4.762 billion [2] External Market - US stock markets rebounded, with the Nasdaq Composite Index rising 2.69% to 22872.01, marking the largest single-day gain since May [3] - Notable gains in Chinese concept stocks, with the Nasdaq China Golden Dragon Index up 2.82% [3] Industry Insights - CITIC Construction Investment highlights positive changes in the humanoid robot sector, suggesting focus on quality segments and upcoming product launches [4] - China Galaxy Securities anticipates structural opportunities in the food and beverage industry, with traditional consumption showing signs of recovery [5] - Huatai Securities projects a significant increase in global gas turbine orders, driven by various factors including energy policy shifts and AI power demand [6] - CITIC Construction Investment maintains a positive outlook on energy storage demand, despite short-term market adjustments [7]

二、资金流向 上周ETF市场净流入980亿，其中股票ETF净流入545.77亿元，QDII股票ETF净流入155.44亿元，商品ETF净流入64.95亿元，债券ETF净流入138亿元，货币基 金ETF净流入76.48亿元，其中仅11月21日便有500亿元资金借道ETF"抄底"。 指数方面，恒生科技、货币基金、中证500、创业板指、科创50、SGE黄金9999、中证1000、沪深300、上证指数分别净流入105.12亿元、76.48亿元、64.29 亿元、56.99亿元、55.33亿元、54.89亿元、48.04亿元、38.07亿元、32.35亿元、 一、市场概况 上周A股市场主要宽基指数全线下跌，沪深300、上证综指、中小板指指数收益靠前，收益分别为-3.77%、-3.90%、-5.10%，创业板指、中证1000、中证500 指数收益靠后，收益分别为-6.15%、-5.80%、-5.78%。 行业方面，上周银行、食品饮料、传媒收益靠前，收益分别为-0.87%、-1.36%、-1.39%，综合、电力设备及新能源、基础化工收益靠后，收益分别 为-9.47%、-9.41%、-8.24%。 中证银行、中证煤炭、细分化 ...

2、本基金是交易型开放式，股票型基金。 [重要提示] 1、鹏华中证科创创业人工智能交易型开放式指数证券投资基金（以下简称"本基金"）的募集及其基金 份额的发售已获中国证监会证监许可〔2025〕2584号文注册。中国证监会对本基金募集的注册并不代表 中国证监会对本基金的风险和收益作出实质性判断、推荐或者保证。 基金管理人：鹏华基金管理有限公司 基金托管人：长城证券股份有限公司 3、本基金管理人为鹏华基金管理有限公司，基金托管人为长城证券股份有限公司，登记机构为中国证 券登记结算有限责任公司。 4、投资者可选择网上现金认购、网下现金认购两种方式认购本基金。本基金目前暂不开通网下股票认 购业务。网上现金认购是指投资人通过基金管理人指定的具有基金销售业务资格的上海证券交易所会员 用上海证券交易所网上系统以现金进行的认购，网下现金认购是指投资人通过基金管理人及其指定的发 售代理机构以现金进行的认购。 5、本基金募集期自2025年11月28日至2025年12月12日，通过网上现金认购、网下现金认购两种认购方 式公开发售。基金管理人可根据募集情况适当延长或缩短本基金的募集期限并及时公告。 6、本基金募集对象为符合法律法规规 ...

Group 1 - Seven fund companies, including Huatai-PB, E Fund, ICBC Credit Suisse, Yongying, Invesco Great Wall, Penghua, and Morgan Asset Management, announced the launch of their AI-focused ETF on November 28 [1] - The ETF tracks the CSI Sci-Tech Innovation and Entrepreneurship Artificial Intelligence Index, which consists of 50 leading companies in AI technology research, hardware support, and commercial applications across various verticals [1] - The top three weighted industries in the index are communication equipment (37.92%), semiconductors (31.21%), and software development (9.29%), representing the forefront of "hard technology" and "high growth" in China [1] Group 2 - The top five weighted stocks in the index are Zhongji Xuchuang, Xinyisheng, Cambricon Technologies-U, Lanke Technology, and Kingsoft Office, all of which are well-recognized and representative leaders in the AI sector [1]

Group 1 - The A-share market opened high but closed low on November 24, with the ChiNext New Energy ETF (159368) rebounding by 0.5% after hitting a low [1] - Jinlei Co., Ltd. and Dike Co., Ltd. saw their shares rise over 4%, while Taisheng Wind Power, New Strong Link, and Haili Wind Power increased by over 2% [1] - The ChiNext New Energy ETF (159368) experienced a net inflow of over 30 million yuan in the past three days, with a trading volume exceeding 23.5 million yuan, ranking first among similar funds [1] Group 2 - The first large-capacity all-solid-state battery production line in China has been established and is currently undergoing small-batch testing [1] - All-solid-state batteries have significant advantages over traditional lithium-ion batteries, including increased safety and longer range for future electric vehicles [1] - CITIC Construction Investment predicts that the recovery in market conditions will drive performance recovery, with new technologies catalyzing valuation increases [1] Group 3 - The ChiNext New Energy ETF (159368) is the largest ETF fund tracking the ChiNext New Energy Index, covering various sectors including batteries and photovoltaics [2] - The fund has the highest elasticity, with a potential increase of up to 20%, and the lowest fee rate at a total of 0.2% for management and custody fees [2] - As of October 31, 2025, the fund's scale reached 829 million yuan, with an average daily trading volume of 90.05 million yuan over the past month [2]

截至收盘，创业板中盘200指数上涨2.2%，创业板指数上涨0.3%，创业板成长指数上涨0.2%，创业板ETF（159915）全天净申购达1700万份，该产品此前连 续6个交易日获资金加仓，合计超50亿元。 每日经济新闻 ...

该指数由中证指数公司于2025年5月14日发布，样本选自科创板和创业板上市的股票和红筹企业发行的存托凭证中满足以 下条件的证券：上市时间超过6个月（除非该证券自上市以来的日均总市值在沪深市场中排名前30位），且非ST、*ST证券。 在此基础上，进一步筛选过去一年日均成交金额排名位于样本空间前90%的证券，并从中选取涉及三类人工智能业务的上市公 司证券作为待选样本——包括人工智能基础资源、人工智能技术以及人工智能应用领域。最终，在待选样本中，按过去一年日 均总市值由高到低排序，选取排名前50只证券作为指数样本。 在ETF业务方面，摩根资产管理走出了一条结合主动管理优势的差异化发展道路。截至2025年9月末，摩根资产管理已成 为全球第二大主动型ETF管理人，2024年主动ETF净流入规模位居全球第一。在中国市场，摩根资产管理（中国）于2023年开 始发力ETF业务，截至2025年10月底，该公司以精品化策略布局了11只ETF产品，覆盖宽基、策略、行业主题、跨境等多个品 种。在产品设计上，该公司注重投资者体验，创新性地推出"季度强制分红"机制，打造了包括摩根中证A50ETF、摩根中证 A500ETF、摩根沪深300 ...

Core Insights - The article highlights the successful implementation of a new entrepreneurial guarantee loan policy in Chongqing, which has significantly improved financial support for local businesses [2][5]. Group 1: Loan Policy and Impact - The first entrepreneurial guarantee loan in Chongqing's Tongliang District was issued, indicating enhanced financial services for the real economy [2]. - Since June, Chongqing has lowered the financing threshold for entrepreneurship through measures such as increasing loan limits and providing subsidies [2]. - Personal entrepreneurial loan limits have increased from 300,000 to 500,000 yuan, while small and micro-enterprise loan limits have risen from 4 million to 6 million yuan [2]. - Eligible enterprises can receive a maximum guarantee fee subsidy of 0.5% per year, resulting in an effective loan interest rate of no more than 1.75% [2]. Group 2: Loan Processing Efficiency - The time taken from loan application to disbursement has been reduced to 4 working days, a significant improvement from the previous 15 days [5]. - The Chongqing Rural Commercial Bank's local branch efficiently completed due diligence and approval processes, showcasing the effectiveness of the new policy [3]. Group 3: Economic Benefits - The construction company that received the loan is experiencing short-term funding needs due to winning multiple renovation projects for schools and hospitals [2]. - The issuance of entrepreneurial guarantee loans in Tongliang District has led to the creation of over 4,000 jobs this year, with a total of 133 million yuan in loans disbursed [5].

Core Insights - As of November 21, the total margin balance for ETFs in the Shanghai and Shenzhen markets reached 121.29 billion yuan, an increase of 370 million yuan from the previous trading day [2] - The financing balance for ETFs was 114.27 billion yuan, up by 986 million yuan, while the margin short balance decreased to 7.02 billion yuan, down by 616 million yuan [2] ETF Financing Activity - On November 21, 279 ETFs experienced net financing inflows, with the E Fund ChiNext ETF leading the way with a net inflow of 329 million yuan [2] - Other ETFs with significant net financing inflows included the Huatai-PB CSI 300 ETF, the Guotai CSI All Share Securities Company ETF, the Southern CSI 500 ETF, the Huaxia SSE Sci-Tech Innovation Board 50 ETF, the Fortune SSE Composite Index ETF, and the Huaxia CSI 1000 ETF [2]