【广发金工】AI识图关注船舶、电网、钢铁、机器人

Market Performance - The Sci-Tech 50 Index increased by 0.47% over the last five trading days, while the ChiNext Index decreased by 0.53%. The large-cap value index fell by 1.34%, and the large-cap growth index dropped by 0.93%. The Shanghai Stock Exchange 50 Index declined by 1.31%, whereas the small-cap index represented by the CSI 2000 rose by 3.08%. The steel and environmental sectors performed well, while media and non-bank financial sectors lagged behind [1]. Risk Premium and Valuation Levels - As of February 27, 2026, the risk premium, measured as the inverse of the static PE of the CSI All Share Index minus the yield of ten-year government bonds, stands at 2.43%. The two standard deviation boundary is 4.65% [1]. - The valuation levels indicate that the CSI All Share Index's PETTM is at the 84th percentile. The Shanghai 50 and CSI 300 are at 72% and 74%, respectively, while the ChiNext Index is close to 61%. The CSI 500 and CSI 1000 are at 70% and 69%, respectively, indicating that the ChiNext Index's valuation is relatively at the historical median level [1]. ETF Fund Flow - In the last five trading days, there was an outflow of 39.3 billion yuan from ETFs, while the margin trading balance increased by approximately 22.2 billion yuan. The average daily trading volume across the two markets was 23,348 billion yuan [2]. Industry Themes and Indices - The latest thematic allocation includes industries such as shipbuilding, electric power, steel, and robotics, specifically represented by indices like the CSI Selected Shipbuilding Industry Index, CSI Electric Power Equipment Theme Index, CSI Steel Index, and CSI Robotics Index [2][3].