超预期股票精选策略跟踪周报-20251102

Group 1 - The core viewpoint of the report highlights the performance of active quantitative funds, with a median return of 0.09% for the week of October 24-31, 2025, compared to a -0.43% return for the CSI 300 Index and a 0.41% return for the Wind All A Index [4][9]. - For the year, the median return of active quantitative funds stands at 28.88%, outperforming the CSI 300 Index at 17.94% and the Wind All A Index at 26.38% [4][9]. - The report indicates that the top-performing active quantitative funds for the week had returns between 3% and 6%, primarily concentrated in the electric equipment sector, while the underperforming funds had returns between -2% and -5%, mainly focused on the electronics sector [4][10]. Group 2 - The report details the performance of the "Super Expectation Stock Selection Strategy," which constructs a stock pool based on net profit exceeding expectations and analyst expectations [6][15]. - For the week of October 24-31, 2025, the strategy yielded a return of -0.98%, underperforming the benchmark Wind All A Index, which returned 0.41%, resulting in an excess return of -1.39% [6][17]. - Year-to-date, the strategy has achieved a return of 46.11%, significantly outperforming the benchmark index's return of 26.38%, leading to an excess return of 19.73% [6][21]. Group 3 - The report identifies that the top 30 selected stocks for November 2025 are concentrated in the machinery and equipment sector, with the highest return for the year being 116.30% from Cangge Mining (000408.SZ), categorized under non-ferrous metals [6][22][27]. - The report emphasizes the importance of the "Post-Earnings-Announcement Drift" phenomenon, which indicates that stock prices continue to drift in the direction of earnings surprises for some time after the announcement [6][15].