站在AI革命中心：这位基金经理是如何把握中国科技价值重估的？

Core Insights - The rapid transformation of the world by artificial intelligence (AI) is leading to a profound revaluation of Chinese technology assets, showcasing strong innovation capabilities and redefining the investment framework in the tech industry [1][4] - The A-share market has shown strong performance, with the Shanghai Composite Index breaking previous highs, driven by the high growth and elasticity characteristics of Chinese tech companies [1][2] Investment Performance - Fund manager Ma Xiang's product, Huatai Fuhua Technology Innovation A (007355), has achieved a nearly 88.59% increase over the past year, outperforming its benchmark by 47.3 percentage points [1] - Another product managed by Ma Xiang, the Beijing Stock Exchange Innovation Selection Two-Year Open Mixed A (014279), has seen a remarkable 216.91% increase in the same period, surpassing its benchmark by 147.2 percentage points [1] AI Market Dynamics - The launch of DeepSeek-R1 has sparked global interest and driven a tech sector rally centered around AI, expanding the application boundaries of AI technology [2] - The investment focus in the AI sector is becoming clearer, with emphasis on high-end manufacturing and strong commercial application capabilities in downstream enterprises [2][6] Policy Environment - The Chinese government is enhancing the policy environment for AI development, as evidenced by the approval of the "Artificial Intelligence +" action plan, indicating a deeper AI revolution [2][6] Investment Strategy - Ma Xiang employs a systematic investment framework, focusing on top-down market trends and bottom-up stock selection, particularly in the AI and computing power sectors [5][6] - The investment style is characterized by a balanced approach towards mid and small-cap growth strategies, with a focus on sectors like TMT, new energy, pharmaceuticals, and high-end manufacturing [5][6] Future Outlook - The rapid advancements in the US AI sector are expected to open new growth opportunities for the global tech industry, with Chinese companies transitioning from passive followers to active leaders in the tech revolution [6][7] - The computing power industry is anticipated to continue benefiting from increased capital expenditures by overseas tech giants and the competitive landscape driven by next-generation models [6][7]