5,872.90 26.01.19 基金亏损103元～ 场内买入430元。 场内亏损60元；场外亏损43元。 +311.11 ...

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - From January 12 to January 16, 2026, major equity market indices showed mixed performance, with the Science and Technology Innovation 50 Index having the largest increase of 2.58%. Among the 31 Shenwan primary industries, 13 industries rose, with the top five gainers being Computer, Electronics, Non - Ferrous Metals, Media, and Machinery and Equipment, and the top five decliners being National Defense and Military Industry, Real Estate, Agriculture, Forestry, Animal Husbandry and Fishery, Coal, and Banking [1][12]. - In the public fund market, the first domestic gold ETF with a scale exceeding 100 billion was born, and the latest expansion of Hong Kong Stock Connect ETF became effective. Among equity funds, partial - stock funds had the largest increase of 1.35% on average, and the proportion of positive returns was 74.98% [2][31]. - In the ETF market, the overall net capital outflow last week was 157.331 billion yuan, with stock - type ETFs having the largest net outflow of 141.643 billion yuan. Software services, media, semiconductors, non - ferrous metals, and commercial space were the main sectors with capital inflows, while broad - based indices related to CSI 300, SSE STAR Market 50, ChiNext, SSE 50, and CSI Small - cap 500 saw significant capital outflows [3][44][45]. - In terms of fund issuance, 36 new funds were issued last week, 12 fewer than the previous period; 23 new funds were established, 12 more than the previous period, and the total funds raised by new funds were 19.294 billion yuan, 11.103 billion yuan more than the previous period [4] 3. Summary According to the Directory 3.1 Market Review 3.1.1 Domestic Market Situation - From January 12 to January 16, 2026, major equity market indices showed mixed performance, with the Science and Technology Innovation 50 Index rising 2.58%. Among the 31 Shenwan primary industries, 13 industries rose, with the top five gainers being Computer, Electronics, Non - Ferrous Metals, Media, and Machinery and Equipment, and the top five decliners being National Defense and Military Industry, Real Estate, Agriculture, Forestry, Animal Husbandry and Fishery, Coal, and Banking. In the bond market, the ChinaBond Composite Full - Price Index rose 0.14%, and the ChinaBond Treasury Bond, Financial Bond, and Credit Bond Total Full - Price Indices rose between 0.05% and 0.14%. The CSI Convertible Bond Index rose 1.08%, and the Nanhua Commodity Index in the commodity market rose 1.13% [1][12] 3.1.2 European, American, and Asia - Pacific Market Situation - Last week, major indices in European, American, and Asia - Pacific markets showed mixed performance. In the US stock market, the S&P 500 Index fell 0.20%, the Dow Jones Industrial Average fell 0.32%, and the Nasdaq Index fell 0.66%. In the European market, the French CAC40 fell 1.23%, and the German DAX rose 0.14%. In the Asia - Pacific market, the Hang Seng Index rose 2.34%, and the Nikkei 225 rose 3.84% [19] 3.1.3 Market Valuation Situation - Last week, the valuation quantiles of major market indices mostly rose. In terms of the historical quantiles of price - to - earnings ratio, the ChiNext Index had the largest increase of 2.9 pct. In terms of the historical quantiles of price - to - book ratio, the CSI 500 had the largest increase of 2.2 pct. Among industries, the top five industries with the highest historical quantiles of price - to - earnings ratio of the Shenwan primary index were Electronics, Real Estate, Computer, Commercial Trade, and Comprehensive. The price - to - earnings ratio quantile of Electronics remained at a high level, and the price - to - earnings ratio quantile of Real Estate reached 95.1%. The bottom five industries with low historical quantiles of price - to - earnings ratio were Non - Banking Finance, Agriculture, Forestry, Animal Husbandry and Fishery, Food and Beverage, Beauty and Care, and Communication, and the valuation of the Non - Banking Finance industry was close to its historical low since 2013 [22] 3.2 Active Public Fund Situation 3.2.1 Market Hotspots - The first domestic gold ETF with a scale exceeding 100 billion was born. As of January 19, 2026, the scale of Huaan Gold ETF reached 101.528 billion yuan [31]. - The latest expansion of Hong Kong Stock Connect ETF became effective. Since January 19, 54 new ETFs were added to the northbound Shanghai - Hong Kong Stock Connect, and 44 new ETFs were added to the northbound Shenzhen - Hong Kong Stock Connect. Seven ETFs were temporarily removed from the Mainland - Hong Kong Stock Connect targets. After the adjustment, the total number of ETFs covered by the "ETF Connect" increased from 273 to 364, an increase of more than 30% [32] 3.2.2 Fund Performance - Among equity funds, partial - stock funds had the largest increase of 1.35% on average, and the proportion of positive returns was 74.98%; fixed - income + funds rose 0.32% on average, and the proportion of positive returns was 87.09%; pure - bond funds rose 0.10% on average, and the proportion of positive returns was 98.67%; pension target FOFs rose 0.58% on average, and the proportion of positive returns was 98.49%. In addition, QDII funds rose 0.97% on average, and the proportion of positive returns was 69.31% [2][32] 3.2.3 Industry Position and Overall Position - Through the calculation of the industry positions of active equity funds, the top industries with increased positions last week were Electronics, Power Equipment, and Non - Ferrous Metals; the top industries with decreased positions were Media, National Defense and Military Industry, and Computer. The overall position of active equity funds on January 16, 2026, was 79.71%, an increase of 4.16 pct. compared with the previous period [39][40] 3.3 ETF Fund Situation - Last week, the overall net capital outflow in the ETF market was 157.331 billion yuan. Stock - type ETFs had the largest net outflow of 141.643 billion yuan. The average daily trading volume of the overall ETF market last week reached 622.2 billion yuan, the average daily trading volume reached 248.479 billion shares, and the average daily turnover rate reached 9.96% [3][44] - In terms of individual bonds, software services, media, semiconductors, non - ferrous metals, and commercial space were the main sectors with capital inflows, while broad - based indices related to CSI 300, SSE STAR Market 50, ChiNext, SSE 50, and CSI Small - cap 500 saw significant capital outflows, mainly concentrated on January 15 and 16 [3][45] 3.4 Fund Issuance Statistics - Last week, 36 new funds were issued in China, 12 fewer than the previous period. Among them, there were 13 active partial - stock funds and 16 passive index funds. Ten of the passive index funds were stock - type funds, mainly tracking indices such as the Hang Seng Hong Kong Stock Connect Technology Theme, China Securities Consumption Electronics Theme, SSE STAR Market 200, and Hang Seng Hong Kong Stock Connect Technology Theme. Currently, the issuance share of active equity funds is still at a historical low, but it has shown an obvious upward trend since this year [52] - Last week, 23 new funds were established in China, 12 more than the previous period. The total funds raised by new funds were 19.294 billion yuan, 11.103 billion yuan more than the previous period. The Fuda ChinaBond High - Grade Science and Technology Innovation and Green Bond A managed by Cheng Hao had the largest fundraising scale of about 4 billion yuan [57]

1月19日，欣灵电气涨5.17%，截至发稿，报34.77元/股，成交1.38亿元，换手率14.88%，总市值35.62亿 元。 华泰柏瑞中证2000指数增强A（019923）基金经理为盛豪、雷文渊、孔令烨。 截至发稿，盛豪累计任职时间10年102天，现任基金资产总规模44.17亿元，任职期间最佳基金回报 138.21%， 任职期间最差基金回报-29.48%。 雷文渊累计任职时间3年169天，现任基金资产总规模16.41亿元，任职期间最佳基金回报94.2%， 任职 期间最差基金回报10.67%。 孔令烨累计任职时间3年169天，现任基金资产总规模25.77亿元，任职期间最佳基金回报94.2%， 任职 期间最差基金回报-0.2%。 资料显示，欣灵电气股份有限公司位于浙江省乐清经济开发区纬十九路328号,浙江省乐清经济开发区浦 南五路55号，成立日期1999年3月31日，上市日期2022年11月9日，公司主营业务涉及低压电器产品的研 发、生产和销售。主营业务收入构成为：继电器68.37%，配电控制29.75%，其他(补充)1.88%。 从欣灵电气十大流通股东角度 数据显示，华泰柏瑞基金旗下1只基金位居欣灵电气十大流 ...

Core Viewpoint - The A-share market in 2025 demonstrated a trend of initial growth followed by a decline, highlighting the importance of professional investment capabilities in a complex market environment. ICBC Credit Suisse Asset Management showcased resilience across various investment areas, achieving multiple five-star ratings for its funds, indicating strong long-term performance and value creation ability [1][2][31]. Group 1: Fund Performance and Ratings - As of December 31, 2025, ICBC Credit Suisse had 31 funds rated five stars for three years and 20 funds rated five stars for five years by authoritative rating agencies, reflecting the company's strong performance in different market cycles [1][6][9]. - The company's equity investment team ranked first in absolute and excess returns over the past seven years among 13 large equity fund companies, and third and second in the last five years, respectively [2][33]. - Specific funds such as ICBC Ecological Environment Industry Stock A and ICBC New Materials New Energy Stock ranked second and third in their respective categories for three and five years [3][28]. Group 2: Investment Strategies and Research - The equity team at ICBC Credit Suisse adheres to a deep research and value investment philosophy, employing a systematic industry research framework covering high-growth sectors like technology and healthcare [2][21]. - The investment strategy emphasizes fundamental research and dynamic strategy adjustments to identify high-potential stocks, balancing risk and return through diversified strategies [2][11]. Group 3: Fixed Income and Mixed Funds - In the fixed income sector, ICBC Credit Suisse's products demonstrated strong performance, with several funds ranking in the top five for three and five years in their respective categories [11][12]. - The ICBC Harvest Return Flexible Allocation Mixed A fund ranked second in both three-year and five-year performance among flexible allocation funds [12][19]. Group 4: Diversified Business Layout - ICBC Credit Suisse has developed a comprehensive product lineup in index and ETF investments, covering broad-based, industry, and thematic products, which have become essential tools for asset allocation [21][22]. - The company has also made significant strides in QDII (Qualified Domestic Institutional Investor) investments, with funds like ICBC Global Stock and ICBC Global Select Stock ranking among the top five in their categories over the past ten years [22][31]. Group 5: Recognition and Future Outlook - ICBC Credit Suisse has been recognized as a "Golden Bull Fund Management Company" for three consecutive years, underscoring its achievements and research capabilities [31][34]. - Looking ahead to 2026, the company aims to enhance investor returns and contribute to the growth of the real economy through its professional investment strategies [32][31].

Group 1 - Baosteel Co., Ltd. experienced a decline of 9.6% on January 19, with a stock price of 2.26 yuan per share, a trading volume of 5.07 billion yuan, a turnover rate of 0.72%, and a total market capitalization of 102.35 billion yuan [1] - The company, established on June 29, 1999, and listed on March 9, 2001, primarily engages in the development and utilization of mineral resources, as well as the production and sale of steel products [1] - The revenue composition of Baosteel's main business includes 76.99% from steel products, with specific breakdowns: 50.56% from plates, 22.35% from others, 10.99% from pipes, 8.34% from profiles, 7.10% from wires, and 0.65% from other supplementary products [1] Group 2 - Guotai Fund's Guotai Zhongzheng Steel ETF (515210) entered the top ten circulating shareholders of Baosteel, holding 174 million shares, which accounts for 0.55% of the circulating shares, resulting in an estimated floating loss of approximately 41.66 million yuan [2] - The Guotai Zhongzheng Steel ETF was established on January 22, 2020, with a current scale of 3.66 billion yuan, yielding 0.6% this year, ranking 4949 out of 5579 in its category; over the past year, it achieved a return of 32.19%, ranking 2478 out of 4225; and since inception, it has returned 71.81% [2] Group 3 - The fund manager of Guotai Zhongzheng Steel ETF is Wu Zhonghao, who has been in the position for 3 years and 358 days, managing total assets of 25.39 billion yuan, with the best fund return during his tenure being 106.3% and the worst being -18.04% [3] Group 4 - Guotai Zhongzheng Steel ETF increased its holdings in Baosteel by 10.9 million shares in the third quarter, bringing its total to 174 million shares, which constitutes 11.29% of the fund's net value, making it the largest holding [4]

Core Viewpoint - The announcement details a sales agreement between Caitong Securities Asset Management Co., Ltd. and Zhejiang Commercial Bank, effective from January 19, 2026, allowing certain funds to offer regular investment and fund conversion services through the bank [1]. Group 1: Fund Investment and Conversion Services - Starting January 19, 2026, certain funds managed by the company will be available for regular investment (定投) and fund conversion through Zhejiang Commercial Bank [1]. - Fund conversion allows investors to switch their holdings from one fund to another managed by the same fund manager and registered with the same registration agency [1]. Group 2: Fund Conversion Rules - Fund conversion must involve funds sold by the same sales institution and managed by the same fund manager, with both funds registered at the same registration agency [2]. - The conversion price is based on the net asset value of the funds on the day the conversion application is accepted [2]. - The conversion process follows a "first in, first out" rule, where older registered shares are converted first [2]. Group 3: Conversion Fees and Calculations - Conversion fees consist of the redemption fee from the outgoing fund and any difference in subscription fees between the incoming and outgoing funds [4]. - The redemption fee is calculated based on the number of shares being converted and the applicable redemption fee rate [5]. - The formula for calculating conversion amounts and shares is provided, ensuring transparency in the conversion process [6]. Group 4: Important Notes for Investors - Investors engaging in regular investment through Zhejiang Commercial Bank will adhere to the same fee rates as subscription fees, with minimum investment amounts matching those for subscriptions [7]. - Investors are encouraged to read the fund's contract and prospectus available on the company's website for detailed information on the funds and associated risks [7]. - Customer service contact information for both Zhejiang Commercial Bank and Caitong Securities is provided for further inquiries [8].

Core Viewpoint - The article discusses the challenges and psychological hurdles investors face during market fluctuations, particularly during the transition from bear to bull markets, emphasizing the importance of patience and experience in investment strategies [2][3][6]. Group 1: Market Performance and Investor Behavior - The market experienced significant growth from a low of 5.9 stars to around 3.x stars by early January 2026, indicating a recovery phase where pessimistic sentiments decreased [3]. - Many investors began to realize profits during the market upturn in 2025, but the initial recovery phase was challenging as investors often felt compelled to sell once they broke even [4][5]. - By the end of Q2 2025, a dense recovery phase was noted, with many investors seeing average returns increase as the market continued to rise in Q3 [5]. Group 2: Investor Challenges and Learning - Investors faced two main tests: the initial recovery from losses and the temptation to sell upon breaking even, which many failed to navigate successfully [4][6]. - Research indicated that approximately 36.6% of fund investors were still at a loss by the end of Q3 2025, highlighting the prevalence of losses despite overall market gains [6]. - Investors who endured the bear market from 2022 to 2026 gained valuable experience, understanding the risks of market volatility and the benefits of holding undervalued investments for the long term [7].

公告送出日期：2026年01月17日 投资者可以通过拨打本公司客服热线（400-888-9918）或登录本公司网站（www.99fund.com）获取相关 信息。 汇添富基金高度重视投资者服务和投资者教育，特此提醒投资者需正确认知基金投资的风险和长期收 益，做理性的基金投资人，做明白的基金投资人，享受长期投资的快乐！ 特此公告。 汇添富基金管理股份有限公司 1 公告基本信息 ■ 注：1、自2026年01月19日起（含2026年01月19日），汇添富90天短债A暂停直销渠道的大额申购、大 额转换转入、大额定期定额投资业务，单日单个基金账户单笔或多笔累计申购、转换转入、定期定额投 资的金额不应超过5000000人民币元（含5000000人民币元）。当单日某基金账户单笔或多笔累计申购、 转换转入、定期定额投资该份额的金额超过5000000人民币元，本公司将部分或全部拒绝。本基金汇添 富90天短债A恢复直销渠道的大额申购、大额转换转入、大额定期定额投资业务的具体时间将另行公 告。 2、汇添富90天短债A仍暂停办理代销渠道的大额申购、大额转换转入、大额定期定额投资业务。该份 额其他业务仍照常办理。详见本公司于2022年 ...

Group 1 - The fund is named "Caitong Cycle Optimal Mixed Securities Investment Fund" and is classified as a mixed securities investment fund [13] - The fund's initial share price is set at 1.00 RMB per share [14] - The fund aims to achieve long-term stable appreciation of assets while strictly controlling risks [14] Group 2 - The fund will be publicly offered from January 27, 2026, to February 9, 2026, with a maximum fundraising period of three months [21] - The minimum initial subscription amount for individual investors at the direct sales center is 50,000 RMB, while subsequent subscriptions require a minimum of 1,000 RMB [27] - Investors can subscribe multiple times during the fundraising period, but once accepted, subscription applications cannot be withdrawn [29] Group 3 - The fund will be managed by Caitong Fund Management Co., Ltd., and the custodian will be Industrial and Commercial Bank of China [1] - The fund is open to individual investors, institutional investors, qualified foreign investors, and other investors permitted by laws and regulations [15] - The fund will not open direct sales channels for subscriptions initially, and any future changes will be announced on the fund manager's website [2] Group 4 - The fund's investment strategy includes a focus on stocks, with a target allocation of 60%-95% of its assets in equities [6] - The fund can invest in stocks listed on the Hong Kong Stock Exchange under the Stock Connect program, which may involve specific risks [7] - The fund's investment scope includes stocks from the Sci-Tech Innovation Board, which may face liquidity risks due to stricter investor suitability management [8]

Core Viewpoint - The article highlights the release of the 2025 Creator Popularity Top 50 list by Tian Tian Fund Community, celebrating the recognition of creators and their contributions to investment content [1]. Group 1: Creator Recognition - The list is a testament to the hard work and insights of numerous creators who have dedicated themselves to investment content [1]. - The article expresses gratitude towards every contributor for their valuable insights and encourages more investors to join the creator community [1]. Group 2: Popularity Metrics - The article mentions various creators along with their popularity scores, indicating their engagement and influence within the investment community. For example, "小涵妹妹" has a popularity score of 5 million [5], while "小沐投资笔记" has a score of 520.8 million [11]. - The popularity scores range significantly, with the highest being 661.2 million [7] and others like "安娜理财" at 363.1 million [16] and "华之城" at 408.1 million [17]. Group 3: Engagement Trends - The article emphasizes the importance of following trends and adapting strategies accordingly, as seen in the mention of creators who focus on specific investment themes like debt funds and stock funds [6][12]. - The engagement levels of various creators reflect their ability to connect with the audience and provide relevant investment insights, which is crucial for building a strong community [1].