市场回调，央国企红利组合占优

• The report introduces two active quantitative strategies: "Dividend Selection Strategy" and "Industry High Winning Rate Strategy," launched by the Changjiang Quantitative Team since July 2023, aiming to provide alternative perspectives and investment choices for investors by tracking market hotspots and selecting industry stocks [7][14][15] - The "Dividend Series" includes two products: "Central State-Owned Enterprises High Dividend 30 Portfolio" and "Balanced Dividend 50 Portfolio," focusing on stable and growth-oriented dividend strategies. The "Industry Enhancement Series" targets the electronics sector, featuring "Electronics Balanced Allocation Enhancement Portfolio" and "Electronics Sector Preferred Enhancement Portfolio," which emphasizes mature sub-sector leading companies [15][16][21] - The "Central State-Owned Enterprises High Dividend 30 Portfolio" outperformed the CSI Dividend Total Return Index this week, achieving a weekly excess return of approximately 0.68%. The "Balanced Dividend 50 Portfolio" showed relatively high volatility recently but has achieved a significant excess return of about 6.14% since the beginning of 2025, ranking around the 40th percentile among all dividend fund products [16][21][23] - The "Electronics Balanced Allocation Enhancement Portfolio" and "Electronics Sector Preferred Enhancement Portfolio" failed to achieve positive excess returns this week. The former slightly underperformed the electronics total return index, while the latter struggled to keep pace [8][31][32]