1、本基金为上市开放式基金，除可在二级市场交易外，投资者还可以申购、赎回本基金，申购、赎回 价格以申请当日收市后计算的基金份额净值进行计算，投资者可通过基金管理人网站或交易行情系统查 询本基金的最新份额净值。 2、本基金的交易价格，除了有份额净值变化的风险外，还会受到市场的系统性风险、流动性风险等其 他风险影响，在当前溢价水平下买入，可能使投资者面临损失。 3、截至本公告披露日，本基金运作正常。本基金管理人仍将严格按照法律法规及基金合同进行投资运 作。 4、截至本公告披露日，本基金无其他应披露而未披露的重大信息。本基金管理人仍将严格按照有关规 定和要求，及时做好信息披露工作。 登录新浪财经APP 搜索【信披】查看更多考评等级 近期，招商基金管理有限公司（以下简称"本基金管理人"）旗下招商增荣灵活配置混合型证券投资基金 （LOF）（场内简称：招商增荣LOF；交易代码：161727；以下简称"本基金"）二级市场交易价格明显 高于基金份额净值，出现较大幅度溢价。 特此提示投资者关注二级市场交易价格溢价风险，如果盲目投资，可能遭受重大损失。若本基金后续二 级市场交易价格溢价幅度未有效回落，本基金有权采取向深圳证券交易 ...

Group 1: Award Winners - The "Golden Bull Fund Management Company Award" was awarded to several companies including Dachen Fund Management Co., Ltd., Huatai-PB Fund Management Co., Ltd., and ICBC Credit Suisse Fund Management Co., Ltd. [1] - The "Active Equity Investment Golden Bull Fund Company Award" was given to Dachen Fund Management Co., Ltd., Huashang Fund Management Co., Ltd., and Guohai Franklin Fund Management Co., Ltd. [1] - The "Fixed Income Investment Golden Bull Fund Company Award" was awarded to Industrial Bank Fund Management Co., Ltd. and China Life Asset Management Co., Ltd. [1] Group 2: Continuous Excellence Awards - The "Continuous Excellence Golden Bull Fund" for seven-year open-end stock type was awarded to Dachen Gaoxin Stock Fund [1] - The "Continuous Excellence Golden Bull Fund" for five-year open-end stock type included Penghua Preferred Value Stock and Invesco Great Wall Growth Star Stock [2] - The "Continuous Excellence Golden Bull Fund" for seven-year open-end mixed type included Wanjiar Zhenxuan Mixed and Jiao Yin Trend Mixed [2] Group 3: Bond Fund Awards - The "Continuous Excellence Golden Bull Fund" for five-year open-end bond type included Penghua Fenglu Bond and Yinhua Credit Quarterly Bond [3] - The "Continuous Excellence Golden Bull Fund" for seven-year open-end bond type included Zhongyou Ruixin Enhanced Bond and Bank of China Zhaoli Bond [3]

中国经济网北京12月31日讯 今日，招商基金公告，任命李刚为公司首席（副总经理级）。 | 新任高级管理人员职务 | 公司首席(副总经理级) | | --- | --- | | 新任高级管理人员姓名 | 李刚 | | 是否经中国证监会核准取得高管任职资格 | | | 中国证监会核准高管任职资格的日期 | | | 任职日期 | 2025年12月31日 | | 过往从业经历 | 2002年4月至2025年4月曾在中国农业银行股 | | | 份有限公司、鹏扬基金管理有限公司、惠升基金 | | | 管理有限责任公司工作。2025年5月加入招商 | | | 基金管理有限公司,现任公司首席(副总经理 | | | 缓)。 | | 取得的相关从业资格 | 基金从业资格 | | 国籍 | 中国 | | 学历、学位 | 研究生、博士 | (责任编辑：康博) | 基金管理人名称 | 招商基金管理有限公司 | | --- | --- | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》、 | | | 《证券基金经营机构董事、监事、高级管理人员 | | | 及从业人员监督管理办法》 | | 高管变更类型 | 新任基金管理人公司 ...

瑞财经 吴文婷12月29日，招商银行发布董事会决议公告，审议通过了《关于提名王小青先生为非执行 董事的议案》，同意提名王小青为公司第十三届董事会非执行董事候选人，并提交公司股东会审议。 股东会审议通过后，王小青的董事任职资格需报国家金融监督管理总局进行审核，任期自公司收到国家 金融监督管理总局任职资格批复之日起，至第十三届董事会届满之日止。 值得关注的是，今年8月4日，招商银行发布公告称，公司董事会收到公司副行长王小青的辞任函。王小 青因工作原因，向公司董事会提请辞去副行长职务。王小青的辞任自当日起生效。 其曾任中国人保资产管理有限公司风险管理部副总经理、组合管理部副总经理、组合管理部总经理、总 裁助理、副总裁兼财务负责人，招商基金管理有限公司总经理、董事长，招商银行行长助理兼深圳分行 行长，招商银行副行长，曾兼任招商信诺人寿保险有限公司董事长，兼任招商信诺资产管理有限公司董 事长。 | 姓名 | 离任职务 | 离任时间 | 原定任期 | 离任原因 | 是否继续在 本公司及其控股 | 是否存在 未履行完毕 | | --- | --- | --- | --- | --- | --- | --- | | | | ...

Group 1 - The core viewpoint of the news is that Angel Yeast Co., Ltd. has shown a positive stock performance, with a 1.21% increase in share price, reaching 43.34 yuan per share, and a total market capitalization of 37.618 billion yuan [1] - Angel Yeast, established on March 25, 1998, and listed on August 18, 2000, is primarily engaged in the development, production, and operation of yeast, yeast derivatives, and related biological products [1] - The main business revenue composition of Angel Yeast includes 90.62% from yeast and related industries, 7.89% from other sources, and 4.07% from packaging materials [1] Group 2 - From the perspective of fund holdings, one fund under China Merchants Fund has a significant position in Angel Yeast, specifically the China Merchants CSI 500 Index Enhanced A fund, which held 102,900 shares, accounting for 1% of the fund's net value [2] - The China Merchants CSI 500 Index Enhanced A fund has a total scale of 206 million yuan and has achieved a year-to-date return of 35.26%, ranking 1382 out of 4189 in its category [2] - The fund manager, Deng Tong, has a tenure of 4 years and 40 days, with the best fund return during this period being 90.73% and the worst being 1.5% [2]

Core Viewpoint - The A-share market has undergone a cyclical rise, with certain sectors and styles remaining undervalued, making Chinese assets attractive for global allocation in 2026. Key investment opportunities are identified in four main areas: globally competitive manufacturing leaders, industries with improving supply-demand dynamics, sectors with low valuations and potential for significant fundamental changes, and long-term high-return industries with mismatched valuations [2][4]. Group 1: Market Overview - The current A-share market is experiencing active trading volumes and turnover rates, but there is a notable differentiation among stocks, presenting both opportunities and risks. Some stocks are becoming expensive, while others, particularly in real estate and domestic demand, remain undervalued [3]. - The investment strategy for equities should focus on safety margins and certainty, avoiding blind speculation on volatility. The U.S. economy is not performing well, and potential monetary easing could occur in response to the upcoming mid-term elections, which may influence domestic fiscal policies [3]. Group 2: Investment Opportunities - Four key investment opportunities for 2026 are highlighted: 1. Long-term focus on globally competitive manufacturing leaders, including sectors like power equipment, batteries, electric vehicles, home appliances, chemicals, and machinery. Observations from Southeast Asia indicate a significant gap in infrastructure and supply chains compared to China, reinforcing confidence in China's manufacturing competitiveness [5]. 2. Industries with improving supply-demand dynamics, such as real estate, aquaculture, chemicals, and light industry, are expected to enhance their global market positions and profitability [5]. 3. Sectors with low valuations and potential for substantial fundamental changes, such as chemicals, are noted for their past performance shifts, similar to coal, steel, and non-ferrous metals in previous years [6]. 4. Long-term high-return industries with severe valuation mismatches, including airport and airline services, insurance, and non-liquor food sectors, are highlighted for their high return on equity (ROE) despite low stock attention [6]. Group 3: Risks and Considerations - Potential risks include persistent inflation and sector-specific risks. The undervaluation of the RMB may pressure export industries, and inflation could pose significant risks to the stock market in the latter half of the year. Additionally, long-term risks associated with AI, including its impact on labor and technological competition, warrant attention [6].

Core Viewpoint - The announcement details the operational guidelines for the subscription and redemption of the "招商上证综合增强策略交易型开放式指数证券投资基金," including minimum investment amounts, fees, and procedures for investors [26][27]. Subscription and Redemption Operations - The fund allows subscription and redemption on normal trading days of the Shanghai and Shenzhen Stock Exchanges, with specific times announced by the fund manager [1]. - The minimum subscription and redemption unit is set at 3 million shares, subject to adjustments based on market conditions and investor demand [2][6]. - The fund manager may impose limits on the maximum subscription and redemption amounts per day to protect existing investors' interests [4][10]. - A commission fee of up to 0.8% of the subscription or redemption amount may be charged by the agents [5][11]. Fund Sales Institutions - Investors must conduct subscription and redemption transactions through designated agents, with a list of these agents provided by the fund manager [12]. - The fund manager reserves the right to change the list of agents based on operational needs [12]. Net Asset Value Disclosure - The fund manager is required to disclose the net asset value of the fund at least weekly before the fund shares are traded [13]. - After trading begins, the net asset value must be disclosed no later than the next day after each trading day [13]. Additional Information - The fund operates on a "share subscription, share redemption" basis, and all applications must adhere to the established rules [14]. - The fund manager may adjust the subscription and redemption methods and fees as necessary, with prior announcements made in accordance with regulations [15][23].

Group 1 - The core point of the article highlights the performance of Zhongke Xingtou, which saw a decline of 1.76% in its stock price, reaching 53.45 yuan per share, with a total market capitalization of 43.192 billion yuan [1] - Zhongke Xingtou, established on January 20, 2006, and listed on July 8, 2020, operates in the fields of software sales, data services, technology development, integrated machine products, and system integration [1] - The company's revenue composition includes 53.46% from civil geographic information, 27.46% from special geographic information, 14.34% from commercial aerospace, 4.73% from low-altitude economy, and 0.01% from other sources [1] Group 2 - From the perspective of major fund holdings, one fund under China Merchants Fund has a significant position in Zhongke Xingtou, with the China Merchants CSI Satellite Industry ETF holding 546,100 shares, accounting for 6.16% of the fund's net value [2] - The estimated floating loss for the fund today is approximately 524,300 yuan [2] Group 3 - The China Merchants CSI Satellite Industry ETF was established on May 14, 2025, with a current scale of 386 million yuan and has achieved a return of 65.09% since inception [3] - The fund manager, Xu Rongman, has been in charge for 4 years and 282 days, overseeing a total asset scale of 32.689 billion yuan, with the best and worst fund returns during the tenure being 62.15% and -64.01%, respectively [3]

公告送出日期：2025年12月29日 1、公告基本信息 ■ 注：暂停大额定期定额投资起始日：2025年12月31日 限制定期定额投资金额：50,000.00元 2、其他需要提示的事项 为保障基金平稳运作，维护基金份额持有人利益，招商基金管理有限公司决定自2025年12月31日起对招 商鑫福中短债债券型证券投资基金（以下简称"本基金"）暂停大额申购（含定期定额投资）和转换转入 业务的内容进行调整，如单日单个基金账户单笔或累计申请金额超过5万元，本基金有权部分或全部拒 绝。 2026年1月5日起恢复本基金单一投资者单日申购金额不超过100万元的大额申购（含定期定额投资）和 转换转入业务，即如单日单个基金账户单笔或累计申请金额超过100万元，本基金有权部分或全部拒 绝，届时将不再另行公告。 在上述期间的交易日，本基金作为转出方的转换、赎回等其他业务仍照常办理。 如有疑问，请拨打客户服务热线：400-887-9555，或登录网站www.cmfchina.com获取相关信息。 特此公告。 招商基金管理有限公司 关于调整招商鑫利中短债债券型证券投资基金大额申购（含定期定额投资）和转换转入业务的公告 公告送出日期：2025 ...

Global and A-share Market Overview - The A-share market experienced an overall increase last week, with the CSI 500 index showing the largest gain of 4.03% [12] - The Hang Seng Index in the Hong Kong market rose by 0.50% [12] - The performance of ETFs tracking the new energy sector was notably strong [12] ETF New Issuance Statistics - A total of 18 stock ETFs were reported in the A-share market last week, with 8 new stock ETFs established [17][19] - In the US market, 5 equity ETFs were newly established, including 2 active ETFs [17][23] Fund Flow in A-share Market - The top 10 ETFs with net inflows were primarily those tracking the CSI A500 index, while the top 10 with net outflows included ETFs related to the CSI 300 index, military industry, and TMT sectors [2][24] - The CSI A500 ETF saw a net inflow of approximately 106.75 million yuan, making it the leading ETF in terms of net inflow [28] - Conversely, the CSI 300 ETF experienced a net outflow of 34.08 million yuan [25] Fund Flow in US Market - In the US market, resource management-themed ETFs had the highest net inflows, while multi-tech themed ETFs saw the largest net outflows [3] - A total net outflow of 1.10 million USD was recorded for ETFs investing in A-shares and Hong Kong stocks [3] ETF Strategy Performance - The RRG ETF rotation strategy yielded a return of 3.84%, outperforming the CSI Equal Weight and CSI 300 indices by 1.66% and 1.89% respectively [4] - The 50% base + intraday momentum strategy showed varying returns across different ETFs, with the CSI 1000 ETF achieving a return of 2.05% [4]