Group 1 - The core viewpoint of the articles highlights significant advancements in humanoid robots showcased during the 2026 Spring Festival Gala, indicating a transition from initial development to large-scale production in the industry starting from 2026 [1][2] - Four major domestic humanoid robot manufacturers participated in the gala, demonstrating their capabilities in various scenarios, which reflects the progress made by Chinese humanoid robot companies in 2025 [1] - Unitree Technology launched its fourth quadruped robot, Unitree As2, which boasts performance metrics such as a peak torque of 90 N·m, a maximum speed of 5 m/s, and a range of over 13 km with a 15 kg load, indicating substantial improvements in robotic technology [1] Group 2 - The robotics sector, particularly humanoid robots, has gained strong market attention and order growth following the Spring Festival Gala, suggesting a shift towards mainstream consumer recognition [2] - The Tianhong CSI Robotics ETF Fund has shown impressive historical returns, with A-class shares yielding 28.92% and C-class shares yielding 28.67% in 2025, indicating strong performance in the robotics investment space [3] - The top ten stocks in the CSI Robotics Index are heavily weighted towards humanoid robot-related companies, with a concentration of approximately 40%-45% among key players, highlighting the industry's focus on this segment [3]

在行业分布上，中证人工智能主题指数(930713)覆盖AI全产业链，从底层算力、中层技术到上层应用， 完整覆盖人工智能三大核心环节。 指数前十大重仓股，按AI细分赛道分类来看，光模块/通信占比21.14%（中际旭创、新易盛），AI芯片/ 处理器占比14.51%（寒武纪、澜起科技、豪威集团），AI服务器/算力占比4.70%（中科曙光），算法/ 大模型/NLP占比4.36%（科大讯飞），计算机视觉占比4.11%（海康威视），AI应用/IP平台占比5.22% （金山办公、芯原股份）。 规模与流动性方面优势显著，截止2025年12月31日，天弘中证人工智能主题指数基金产品规模达33.94 亿元，A类：7.80亿，C类：26.14亿（数据来源产品2025年四季报）。 基金业绩方面，2025年历史收益亮眼：天弘中证人工智能主题指数基金A类：64.98%，C类：64.66% （数据来源产品2025年四季报）。 国内方面，2026年春节前后国产大模型迎来集体发布潮，智谱发布GLM-5大模型，参数达744B，编程 能力对标Claude Opus 4.5，且完成与多款国产算力平台的适配；MiniMax推出M2.5模型，在编程、工 ...

从资金净流入方面来看，有色金属ETF天弘(159157)近7天获得连续资金净流入，最高单日获得2.69亿元净流入，合计"吸金"10.67亿元。 【产品亮点】 由于各细分金属都是一个子行业，逻辑与产业周期各异，主动投研很难完全覆盖，指数化投资是较好的选择，有色金属ETF天弘(159157)跟踪中证工业 有色金属主题指数，精准聚焦铜、铝、稀土等核心品种，涵盖30家行业龙头，一键把握AI驱动、战略资源、周期上行三重逻辑下的工业有色金属投资机 遇。 【相关产品】 有色金属ETF天弘(159157)，对应场外联接基金（A类：017192；C类：017193）。 【热点事件】 特朗普拟用AI定关键矿产参考价 锗、镓、锑、钨首批纳入 截至2026年2月25日 11:13，有色金属ETF天弘(159157)盘中换手9.37%，成交2.08亿元，位居深市同类产品第一。跟踪的中证工业有色金属主题指数 (H11059)强势上涨5.40%，成分股驰宏锌锗上涨10.01%，锡业股份上涨10.00%，北方稀土上涨9.99%，中钨高新，厦门钨业等个股跟涨。 截至2月24日，有色金属ETF天弘(159157)最新规模达21.59亿元，位居深 ...

Group 1 - The cyclical sectors in A-shares continue to strengthen, with Xiyie Co. hitting the daily limit, and rare earth permanent magnet concepts rising, leading to Northern Rare Earth increasing by over 9% and China Rare Earth by over 5% [1] - The Tianhong ETF (159157) focused on non-ferrous metals has seen continuous net inflows, accumulating over 1.067 billion yuan in the last 10 days, with a current scale of 2.159 billion yuan [1] - The Tianhong ETF primarily targets industrial metals, with copper, aluminum, and rare earths making up nearly 70% of its portfolio, including leading companies like Luoyang Molybdenum, Northern Rare Earth, and China Aluminum [1] Group 2 - Heavy rare earth prices have significantly increased, with Yttrium reaching 850 USD/kg and Dysprosium at 1100 USD/kg, marking the highest levels since 2015 due to ongoing supply concerns [1] - London base metals saw a broad increase, with Citigroup optimistic about copper prices, predicting they will reach 14,000 USD per ton in the next three months, while JPMorgan forecasts an average aluminum price of 3,200 USD per ton by Q2 2026 [1]

截至2026年2月25日 09:43，机器人ETF(159770)成交4902.46万元。跟踪的中证机器人指数(H30590)上涨0.22%，成分股大族激光上涨4.20%，盈峰环境上 涨3.42%，中信重工上涨3.39%，昊志机电上涨2.82%，江苏北人上涨1.75%。 值得一提的是，机器人ETF(159770)盘初迅速"吸金"，净申购已超1.1亿份。 | | 机器人ETF 159770 | ਕੇ | | --- | --- | --- | | | 通 脚 ◇ ○ + | | | 实时申购赎回信息 | 申购 | 赎回 | | 笔数 | 9 | 3 | | 金额 | 0 | 0 | | 份额 | 1.17亿 | 450万 | 截至2月24日，机器人ETF(159770)最新规模达105.52亿元，最新份额达94.77亿份，均创近1月新高。 资金流入方面，机器人ETF(159770)最新资金净流入2.37亿元。拉长时间看，近10个交易日内有7日资金净流入，合计"吸金"5.77亿元。 【产品亮点】 | | / : = VILLIM | | 1 017 | | IKAIHI | | --- | --- | --- | ...

Core Viewpoint - The Tianhong Sci-Tech Chip Design ETF (589070) is experiencing significant growth in both trading volume and fund shares, reflecting a positive outlook for the semiconductor industry amid a recovery cycle and favorable policies [1][2]. Fund Performance - As of February 24, 2026, the Tianhong Sci-Tech Chip Design ETF had a turnover rate of 6.04% and a transaction volume of 35.99 million yuan, while the tracked Shanghai Sci-Tech Board Chip Design Index fell by 0.89% [1]. - The ETF has seen an increase of 34 million shares this month, with a total inflow of 31.78 million yuan over the last 11 trading days [2]. Market Trends - The semiconductor industry is currently in a recovery phase, supported by both policy and demand, enhancing the investment value of the Tianhong Sci-Tech Chip Design ETF [2]. - The commercialization of domestic AI large models is accelerating, which is expected to lead to explosive growth in demand for computing power chips [2]. Industry Insights - Institutions believe that the rapid expansion of the downstream application market is driving explosive growth in demand for AI computing acceleration chips, attracting various chip manufacturers [3]. - As Chinese GPU companies continue to make technological breakthroughs, the market size for AI computing acceleration chips is expected to grow rapidly [3]. Expert Opinions - Dongwu Securities highlights that AI applications are pushing traditional mobile and PC chips towards high-end upgrades, necessitating continuous innovation in process technology and architecture design [4]. - Companies that capture the edge computing market and adapt to new AI applications will gain a competitive advantage in the AI landscape [4].

一、交易提示 数据显示，截至2月24日，1602只披露净值的保险资管产品中，今年以来正收益占比达93.2%，其中近20只权益类产品收益 率超10%。展望后市，机构表示将继续深耕科技创新、新质生产力等重点领域，挖掘优质上市公司，把握产业升级带来的 长期配置机遇。 A股迎来马年开门红,三大指数节后集体上涨。截至收盘,沪指涨0.87%,报4117.41点,深成指涨1.36%,报14291.57点,创业板指涨 0.99%,报3308.26点,科创50指数跌0.34%,报1465.37点。沪深两市合计成交额22020.62亿元。市场超4000只个股上涨,其中109 只个股涨停。 二、基金要闻 （1）02月24日新发基金共有32只，主要为混合型基金和股票型基金，其中华夏中证电池主题ETF募集目标金额达80.00亿 元；基金分红18只，多为ETF联接基金，派发红利最多的基金是天弘中证央企红利50指数型发起式证券投资基金，每10份 基金份额派发红利0.1000元。 （2）春节前后公募"红包雨"不断，截至2月24日，年内已有超730只基金发布分红方案，累计金额超367亿元。多只沪深 300、中证500等宽基ETF单次派现超10 ...

格隆汇2月24日｜据经济观察报，A股马年首个交易日，迎来开门红行情。马年春晚，人形机器人组团 登上舞台，再次引起广泛关注。受宇树科技、魔法原子等机器人高难度表演刷屏的影响，2026年春节后 首个交易日，A股机器人板块开盘集体高开。然而，从全天走势来看，机器人板块上演"高开低走"的行 情。有股民表示："太神奇了，春晚那么多机器人表演，以为要大涨呢，还想着把压岁钱都买相关股 票，看不懂这个逻辑了，现在不敢买了。" 有投资者称："国内人形机器人春节那个表演实际是有点低于预期的，硬件部分的问题去年就解决了， 现在是要看到大脑问题解决，但实际上在春晚并没看到，属于低于预期了！"天弘中证机器人ETF联接 基金经理祁世超表示：人形机器人当前处于从零开始设计的阶段，现有供应链难以直接复用，需研发团 队与制造供应商共同重新设计关节、传感器、皮肤、灵巧手等核心部件。技术方案已接近成型，后续需 重点关注国内厂商送样情况、产品是否超预期以及量产进展。投资层面应优先关注头部企业动态，并观 察国内领先厂商在小脑领域(如语数智源)的突破，大脑环节仍依赖海外进展。 上个马年沪指涨近60%！新年新福利来了，炒股排面要拉满，新号启幸运>> ...

Core Viewpoint - The oil and gas sector has shown strong performance, with multiple oil ETFs leading the market on the first trading day after the Spring Festival, reflecting a significant increase in investor interest and market activity [1][4][10]. ETF Performance Summary - On February 24, a total of 919 ETFs rose, with the highest increase reaching 9.73%. The leading oil ETFs included: - The S&P Oil & Gas ETF (513350) increased by 9.73%, with a trading volume of 1.117 billion and a turnover rate of 152.76% [2][8]. - The S&P Oil & Gas ETF by Harvest Fund (159518) rose by 9.66%, with a trading volume of 1.546 billion and a turnover rate of 99.88% [2][8]. - Other notable increases included the Silverhua Oil & Gas ETF (563150) at 9.53% and the Bosera Oil & Gas ETF (561760) at 8.42% [6][7]. Market Trends - The oil and gas sector's strong performance is attributed to geopolitical risks and a tight supply-demand situation, leading to a significant rise in related stock prices and indices [10]. - The market is currently driven by geopolitical factors rather than supply-demand dynamics, with expectations of high volatility in oil prices in the near term [10]. ETF Index Tracking - There are four main oil and gas indices tracked by ETFs in the domestic market: - CSI Oil and Gas Resource Index (931248) - CSI Oil and Gas Industry Index (H30198) - National Oil and Gas Index (399439) - S&P Oil & Gas Exploration and Production Select Industry Index (SPSIOP) [5][17]. - The ETFs tracking these indices have shown similar performance, with the same fee structure and relatively close year-to-date returns [19]. Investor Considerations - Investors are advised to be cautious as the S&P Oil & Gas ETF has issued a premium risk warning, indicating that its market price is significantly higher than its indicative net asset value (IOPV), which could lead to potential losses if investments are made blindly [10].

规模方面，截止2月13日，港股通央企红利ETF天弘（159281）最新份额为3.45亿份，最新规模为3.52亿 元。回顾2025年12月31日，港股通央企红利ETF天弘（159281）份额为3.54亿份，规模为3.50亿元。即 该基金今年以来份额减少2.54%，规模增加0.57%。 来源：新浪基金∞工作室 2月24日，天弘中证港股通央企红利ETF（159281）收盘涨2.85%，成交额1.19亿元。 港股通央企红利ETF天弘（159281）成立于2025年8月20日，基金全称为天弘中证港股通央企红利交易 型开放式指数证券投资基金，基金简称为天弘中证港股通央企红利ETF。该基金管理费率每年0.50%， 托管费率每年0.10%。港股通央企红利ETF天弘（159281）业绩比较基准为中证港股通央企红利指数收 益率(经估值汇率调整)。 最新定期报告显示，港股通央企红利ETF天弘（159281）重仓股包括中远海控、中国神华、中国海洋石 油、中石化炼化工程、中国外运、中国船舶租赁、中国石油股份、中煤能源、中信国际电讯、建设银 行，持仓占比如下。 股票代码股票名称持仓占比持仓股数（股）持仓市值（元）01919中远海控4.1 ...