就在当前科技赛道调整之时，公募机构纷纷关注到了科技赛道低位建仓的机会！11月21日，16只硬科技主题基金同日获批，包括首批7只科创创 业人工智能ETF、3只科创板芯片ETF、4只科创板芯片设计主题ETF以及2只科技主题主动权益类基金，涉及易方达基金、广发基金、景顺长城 基金、摩根资产管理等多家公募管理人。 若按行业惯例每只产品募集规模20亿元估算，这批基金有望为市场带来超300亿元的增量资金。在当前流动性敏感时期，此类"活水"入场对提振 市场情绪具有积极作用。 | 产品类型 | 数量 | 核心投向 | 预计募集规模(亿 | | --- | --- | --- | --- | | | | | 元) | | 科创创业人工智能E | 7日 | 中证科创创业人工智 | 140 | | TF | | 能指数 (AI基础资 源、技术及应用） | | | 科创板芯片ETF | 3 ដ | 上证科创板芯片指数 | 60 | | | | (半导体全产业链) | | | 科创板芯片设计主 | 4日 | 上证科创板芯片设计 | 80 | | 题ETF | | 主题指数（高附加值 | | | | | 设计环节） | | | 科技主题 ...

Group 1 - The A-share market has recently experienced fluctuations after breaking through the 4000-point mark, with differing opinions on whether this is the end or the beginning of a new market trend. The current market valuation and leverage are lower compared to previous peaks, indicating no severe bubble formation [1] - The technology sector has shown outstanding performance this year, with adjustments reflecting profit-taking rather than a trend reversal. The recent pullback in the U.S. "Tech Seven" has also impacted the A-share technology sector [1] - Different sectors have been labeled in the market, with technology stocks referred to as "small rising stocks" and traditional sectors like liquor and traditional Chinese medicine termed "old rising stocks," which have underperformed [2] Group 2 - The 14th Five-Year Plan emphasizes technological innovation as a key policy direction, with significant investment expected in areas like AI, semiconductors, and low-altitude economy, indicating a long-term beneficial trend for these sectors [3] - The current technology stock rally is driven by the fourth technological revolution, particularly the large-scale application of artificial intelligence, which has global implications [3] - Concerns have been raised about potential risks in AI technology stocks, drawing parallels to the 2001 dot-com bubble, as some investors have begun to reduce their positions in U.S. stocks [4] Group 3 - The U.S. technology stock market has been a significant driver of the long-term bull market, with leading tech companies starting to realize earnings, suggesting a more solid growth outlook compared to the 2001 bubble [5] - A potential market rotation is anticipated, with traditional sectors possibly experiencing a resurgence, although their growth may not match that of technology stocks [6] - The current bull market in A-shares and Hong Kong stocks is expected to continue, driven by a shift of household savings into the capital market, with over 25 million new stock accounts opened this year [5][6] Group 4 - Global capital allocation to the Chinese stock market remains low, indicating significant room for growth, especially as trade negotiations between China and the U.S. have yielded positive results [7] - Despite typical year-end market quietness, structural opportunities are expected to arise due to potential policy benefits and industry trends, suggesting that the current market phase is a consolidation rather than an end to the bull market [7]

Core Viewpoint - The company has no current plans to enter the semiconductor chip sector [1] Company Summary - The company, Diya Co., has communicated through an interactive platform regarding its strategic direction [1]

Core Insights - The GDP of Futian District in Shenzhen is expected to exceed 600 billion yuan this year, with a reported GDP of 471.17 billion yuan for the first three quarters, reflecting a year-on-year growth of 9.3% [1][4] - Futian District is the second-largest contributor to Shenzhen's GDP, with a projected GDP of 594.88 billion yuan for 2024, representing a growth of 5.1% compared to the previous year [3] Economic Performance - The rapid growth in Futian's GDP is attributed to the strong performance of its pillar industries, particularly the financial sector, which accounts for over 30% of the district's GDP [4] - The financial industry in Futian is projected to achieve an added value of 220.89 billion yuan in 2024, growing by 6.8%, and has seen a year-on-year increase of 21.4% in the first three quarters of this year [4] - Key indicators in the financial sector, such as securities trading volume and insurance premium income, have increased by 122.6% and 9.7%, respectively [4] Service and Industrial Growth - Futian is also a major hub for the service industry, with the profit-making service sector expected to contribute 116.78 billion yuan in added value in 2024, making up 19.6% of the GDP [4] - The industrial sector has shown positive trends, with a year-on-year increase of 4.6% in industrial added value for the first three quarters, and manufacturing increased by 6.7% [5] - The district's foreign trade has improved, with total import and export volume reaching 696.71 billion yuan, a year-on-year growth of 2.6% [5] Consumer Market - As the leading consumption district in Guangdong, Futian has maintained stable market sales, with retail sales of household appliances and audio-visual equipment increasing by 17.3% and 73.9%, respectively [6] Future Development Plans - Futian District plans to develop "6 innovation valleys, 4 centers, and 4 highlands" as part of its strategic initiatives [8][9] - The district aims to create two trillion-yuan industry clusters in finance and wholesale, along with eight hundred-billion-yuan clusters in various sectors including AI, new energy, and biotechnology [9] - The district's three new engines of growth include the Hong Kong-Shenzhen Innovation Cooperation Zone, the Xiangmi Lake New Financial Center, and the Central Park Vitality Circle [9][10]

Core Viewpoint - Jinshi Resources (603505.SH) clarified that its fluorite products are not directly used as raw materials for photovoltaic and semiconductor industries, but downstream products like high-purity hydrofluoric acid are utilized in cleaning and etching processes for photovoltaics and semiconductors [1] Company Summary - The company stated that its direct customers do not include downstream semiconductor manufacturers, indicating that there is no requirement for certification from semiconductor firms [1]

Core Viewpoint - The company, Taiji Industry (600667.SH), is committed to strengthening its semiconductor business and maintaining its strategic direction in this sector [1] Group 1: Semiconductor Business Strategy - The company will continue to enhance its semiconductor operations, focusing on quality and cost differentiation within the SK Hynix ecosystem through its subsidiary, Haitai Semiconductor [1] - Taiji Semiconductor, another subsidiary, will adhere to the "12335" strategic plan, aiming to integrate into mainstream markets, deepen its presence in automotive applications, target high-end products, and optimize its structure [1] - The company emphasizes the importance of improving technical capabilities, systemic capabilities, and resilience against market risks [1]

Core Viewpoint - The "14th Five-Year Plan" outlines a modern industrial system blueprint that provides a clear growth path for A-shares, potentially solidifying the foundation for a bull market through technological breakthroughs and industrial upgrades [1] Group 1: Key Focus Areas - The plan emphasizes ten core directions: semiconductor chips, humanoid robots, brain-computer interfaces, solid-state batteries, low-altitude economy, computing power, controllable nuclear fusion, wind and solar energy, deep earth economy, and high-end manufacturing [1]

Group 1 - The semiconductor sector experienced a significant rally, with the storage chip segment leading the gains, and other sectors like CPO, PCB, and advanced packaging also showing strong performance. As of 14:00, the CSI Chip Industry Index rose by 4.2%, and the CSI Semiconductor Materials and Equipment Theme Index increased by 4.3% [1] - An important meeting highlighted the major goals for the "14th Five-Year Plan," emphasizing the need to significantly enhance the level of technological self-reliance and independence, positioning "industry" and "technology" as the top two keywords [1] - Analysts suggest that the focus on accelerating high-level technological self-reliance and seizing opportunities from the new round of technological revolution and industrial transformation may lead to increased policy support for the technology industry chain, particularly benefiting sectors like artificial intelligence, semiconductor equipment, and robotics [1] Group 2 - The CSI Chip Industry Index comprises 50 stocks involved in chip design, manufacturing, packaging and testing, as well as semiconductor materials and production equipment, with over half of the index represented by digital chip design and nearly 20% by semiconductor equipment [1] - The CSI Semiconductor Materials and Equipment Theme Index consists of 40 stocks related to semiconductor materials and equipment, with semiconductor equipment and materials accounting for 60% and 20% of the index, respectively [1] - Investors can access opportunities in the semiconductor industry through ETFs such as E Fund Chip ETF (516350) and E Fund Semiconductor Equipment ETF (159558) [2]

Core Viewpoint - The Hong Kong stock market, particularly the technology sector, is showing significant investment value due to a combination of policy benefits, technological breakthroughs, and improved liquidity, with the Hang Seng Index rising by 2.41% to 25,854.98 points and the Hang Seng Technology Index increasing by 3.21% [1] Market Performance - The half-day trading volume in the Hong Kong market reached HKD 1,454.20 million [1] - Notable stock performances include: - Li Auto rising over 7% - Alibaba-W increasing by 4.99% - Hua Hong Semiconductor up by 4.62% - SMIC rising by 4.27% [1] Investment Opportunities - The Hong Kong technology sector is characterized by leading companies in artificial intelligence, biomedicine, semiconductor chips, and new energy vehicles, indicating a strong competitive edge [1] - The potential for performance improvement and value reassessment in the technology sector is supported by the onset of a Federal Reserve rate cut cycle and continuous inflow of southbound capital [1] ETF Investment Strategy - For ordinary investors, investing directly in individual stocks may be challenging and risky; thus, participating through related ETFs is recommended [1] - The Hong Kong Stock Connect Technology ETF (159101) closely tracks the CSI Hong Kong Stock Connect Technology Index, selecting 30 high market capitalization and high R&D investment technology leaders, with the top ten weighted stocks accounting for 77% [1] - The ETF covers major players like Tencent and Alibaba, as well as emerging forces like Li Auto and BeiGene, spanning popular sectors such as "software and hardware + new consumption + innovative drugs + new energy vehicles" [1]

Market Overview - The three major indices opened higher on October 9, with the Shanghai Composite Index rising by 1.19% to surpass 3900 points for the first time since August 2015 [1][2] - The Shenzhen Component increased by 1.84%, and the ChiNext Index rose by 1.99%, with over 3200 stocks in the two markets experiencing gains [1][2] - The total trading volume reached 1.65 trillion yuan, an increase of 525.7 billion yuan compared to the previous trading day [1] Sector Performance - The STAR 50 Index saw a gain of over 5%, with significant increases in the semiconductor industry, including Chipone Technology rising over 16% [1][2] - The GPU, controllable nuclear fusion, and rare earth sectors led the gains, while real estate and short drama sectors faced declines [3][4] - Notable stocks included ZTE Corporation, which hit the daily limit with a trading volume exceeding 12 billion yuan, and H-shares rising nearly 12% to a historical high [3] Chip Sector Highlights - The storage chip sector experienced a significant surge, with companies like Huahong Semiconductor and Yake Technology hitting their daily limits [4][5] - The STAR 50 ETF increased by 3.31%, with stocks such as Western Superconducting and Chipone Technology showing gains of over 16% [5][6] - A recent report indicated that global storage chip prices have been rising, with expectations of a 10% increase in server eSSD prices and a 10-15% rise in DDR5 RDIMM prices in Q4 2025 [6] Gold and Precious Metals - Gold futures surged, with the main contract breaking the 900 yuan/gram mark, reaching a historical high of 913.5 yuan/gram [7][8] - The precious metals sector saw collective gains, with companies like Sichuan Gold and Zhongjin Gold rising significantly [8] Nuclear Fusion and Rare Earth Developments - The controllable nuclear fusion sector showed strong performance, with companies like Hezhong Intelligent and Western Superconducting gaining traction following news of China's nuclear fusion device construction [9] - Rare earth stocks also performed well, with Baotou Steel and Northern Rare Earth seeing increases after the Ministry of Commerce announced new export controls on rare earth technologies [10]