解密永赢“科技4.0”图谱！更适合中国市场的投资新范式

Core Viewpoint - Yongying Fund has established itself as a prominent player in the domestic fund market, focusing on hard technology investment strategies and showcasing its investment system and product strategies during its mid-year strategy meeting [1]. Group 1: Investment Framework - Yongying Fund's equity investment framework is not merely a commercial activity but is based on forward-looking judgments regarding potential market opportunities, focusing on structural opportunities [2][3]. - The investment research system is built on a team of professionals with complementary core competencies, creating a comprehensive and practical investment system referred to as the "1+N" model [6]. - The "1+N" investment ecosystem has been a key factor in the fund's performance improvement, with its equity funds ranking 7th in absolute returns over the past year [6][10]. Group 2: Investment Strategy - The fund's strategy for the second half of 2025 emphasizes hard technology (AI/military) and new productive forces, advocating for a focus on leading technologies [10][13]. - The fund's analysis indicates that the Chinese capital market is poised for a significant uptrend starting from September 2024, driven by a re-evaluation of Chinese assets by foreign investors [13]. - The fund highlights the importance of aligning investment strategies with leading technologies to enhance focus and efficiency in investment outcomes [14]. Group 3: Hard Technology Opportunities - Yongying Fund's investment products cover various sectors, including humanoid robots, innovative pharmaceuticals, low-altitude economy, new consumption, AI industry chain, photolithography machines, and advanced manufacturing [15]. - The fund's managers believe that the humanoid robot market is on the verge of rapid growth, potentially surpassing the number of smartphones and cars in the coming years [23]. - The innovative pharmaceutical sector is seen as having significant potential, with the fund's managers optimistic about the industry's future performance due to favorable conditions and a strong research base [20].