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印度市场:结构性机会与全球配置视角
私募排排网· 2025-07-11 10:59
以下文章来源于公募排排网 ,作者排排产品研究中心 1. 经济增长动能强劲,内需结构日益完善 印度已连续4年实现GDP增速超过9%。在经济持续增长的同时,人口红利加速释放,中产阶层扩大推动消费升级。与此同时,政府通过"印度 制造""数字印度"等政策推动产业数字化和基础设施建设,为科技、可选消费等板块注入了长期增长动能。 公募排排网 . 看财经、查排名、买基金,就上公募排排网,申购费低至0.001折。 本文首发于公众号"公募排排网"。(点击↑↑上图查看详情) 导语 近年来,海外主权国家权益市场表现亮眼而受到基金投资者的广泛青睐。考虑到我国基金投资者主要以A股作为基本盘,而以美国为首的不同 经济体由于所处经济周期与我国不同,股票指数之间相关性也较低,因此通过配置跨地区、跨资产类别的分散投资可以有效地降低单一市场 波动对组合的冲击,当某一市场回调时,另一市场的增长可能抵消损失。 一、以印度市场为例,其战略价值尤为突出 | 1049 | 股票名称 | 持仓市值(元) | 巴奥斯斯坦 比(%) | 所属行业 | | --- | --- | --- | --- | --- | | 1 | HDFC BANK | 96.17 ...
5天4板联环药业:公司目前生产经营正常
公司在近期接受投资者调研时表示,收购常乐制药着眼于战略协同、布局优化、产线互补和成本优势, 以提升整体竞争力;收购龙一医药旨在拓展CSO领域业务,完善医药流通板块布局,利用其在川渝地区 的市场基础和销售网络快速提升当地份额。收购后,公司通过统筹研发立项和资源分配提高效率,优化 各生产基地产品布局降低成本,整合销售网络和团队实现资源共享,输出先进管理模式提升运营效率, 实现全方位协同。公司还特别注重企业文化融合促进协作。 值得一提的是,6月10日晚间,联环药业发布公告称,公司近日收到天津市市场监督管理委员会下发的 《行政处罚决定书》,因违反《中华人民共和国反垄断法》,公司被罚没6103.82万元,占上年净利润 比例超72%。 投资并购方面,公司于2025年1月22日审议通过了《关于公司对外投资的议案》,同意公司以1.83亿元 收购新乡市常乐制药49%股份。常乐制药2023年度经审计的营业收入和净利润的比例分别为17.75%和 24.44%。 另外,公司于2025年5月28日审议通过了《关于公司全资子公司对外投资的议案》,同意公司全资子公 司扬州联环投资以7038万元收购四川龙一医药51%股份。截至公告披露日,公 ...
倍加洁回复年报问询函:公司收入增长符合实际业务 具有合理性
Core Viewpoint - The company reported a 21.78% year-on-year revenue growth for 2024, attributed to increased procurement demand from major clients, new product development, sales channel expansion, and the acquisition of a new subsidiary, Shanenkang [1] Group 1: Financial Performance - The company recorded a goodwill impairment provision of 39.62 million yuan due to the underperformance of Shanenkang, which failed to meet its profit commitments post-acquisition [2] - The acquisition of Shanenkang was completed on April 7, 2024, resulting in a goodwill of 91.01 million yuan, with a significant asset appreciation rate of 656.94% [2][3] - Shanenkang's actual net profit for 2024 was -0.9026 million yuan, leading to a failure in achieving the promised cumulative net profit of 60 million yuan over three years [2][4] Group 2: Goodwill Impairment Testing - The company conducted a goodwill impairment test, determining that the recoverable amount of Shanenkang's asset group was 198 million yuan, indicating a reduction of approximately 69.33 million yuan from the book value [4] - The management based the impairment test on historical gross margin data and market forecasts, adjusting the focus towards high-margin products in the AKK bacteria market [3][4] Group 3: Long-term Investment in Weimeizi - The company reported a long-term equity investment in Weimeizi with a balance of 711 million yuan, resulting in an investment loss of 8.71 million yuan for the reporting period [5] - Weimeizi faced significant challenges due to a decline in offline sales and ongoing shareholder disputes, leading to a substantial increase in impairment provisions from 50.32 million yuan to 138 million yuan [5][6] - The company noted that Weimeizi's marketing expenses increased significantly in 2024 as part of its transformation strategy, but this did not translate into higher revenue [6][7]
关税变局下的黄金机遇,领峰贵金属14年专业平台助您轻松炒黄金
Sou Hu Cai Jing· 2025-07-11 10:39
回顾过往,每当出现贸易摩擦或重大政策转向时,国际金价通常随之波动,布局机会倍增。这一次,美 国关税政策的调整同样可能成为黄金行情的重要转折点。领峰贵金属提醒投资者,能否第一时间掌握市 场动态、深刻理解背后的政策逻辑,将决定能否抓住这波潜在的黄金投资良机。 在交易过程中,投资者可能亦会面临到各种突发问题和技术需求。领峰贵金属拥有完善的7×24小时客 户服务体系,不论是交易疑问、行情咨询还是操作指导,平台客服团队都能第一时间响应,保障投资者 每一步操作顺畅无忧。 2025-07-11 17:55:30 作者:狼叫兽 展望未来,美国关税政策或将带来全球资产价值新一轮重估,黄金市场也有望迎来新的增长周期。此刻 正是投资者提前布局的黄金窗口期。领峰贵金属凭借专业的团队支持、先进的交易技术、贴心的客户服 务,正成为越来越多投资者信赖的合作伙伴。在这个充满不确定性的时代,想要把握市场趋势,那就加 入领峰贵金属,紧抓关税变局下的黄金投资机遇! 近日,美国释放出调整关税政策的明确信号,其宣布自8月1日起,将对来自日本和韩国的部分进口商品 征收25%的关税。这一举措迅速引发全球市场的广泛关注,也加剧了人们对通胀压力、经济前景以及 ...
2025年A 股半程收官!景顺长城权益基金近三年超额位居同类大厂第1
Xin Lang Ji Jin· 2025-07-11 10:34
成长投资是景顺长城重兵屯守且积淀深厚的领域,旗下多只基金业绩突出。其中,科技军团老将杨锐文 掌舵的多只基金排名前列,景顺长城优选、公司治理、成长领航近一年业绩均居同类前7%。拉长来 看,景顺长城优选、公司治理近三年业绩位居同类15/144、5/552。在行业/主题基金中,他管理的景顺 长城环保优势、新能源产业也同样出色,前者近一年、两年业绩均位居同类1/12;后者近一年、两年业 绩分别排名同类1/16、1/15。(优选为偏股型基金-股票上限80%-A类;公司治理、成长领航基金类型均 为偏股型基金-股票上下限60%-95%-A类;环保优势为低碳环保行业股票型基金-A类;新能源产业为新 能源主题股票型基金-A类。优选、公司治理、成长领航近一年业绩具体排名为8/148、104/1819、 114/1819) 景顺长城科技军团其他成员的业绩也表现得十分亮眼。长期深耕泛成长赛道,重视产业趋势研究的农冰 立,管理的景顺长城品质长青近两年业绩排名同类2/1595;业内少有的拥有全球视野的科技基金经理张 仲维,他管理的景顺长城优质成长过去两年业绩排名同类6/324;兼具宏观策略与TMT研究经验的江 山,管理的景顺长城稳健回报 ...
ESG深度报告:中国ESG股票基金的发展历程与绩效表现
Guoxin Securities· 2025-07-11 10:20
证券研究报告 | 2025年07月11日 3、偏股混合型 ESG 基金数量和净值在该领域长期排名首位,其中数量仅在 2016 年至 2020 年 2 季度被超越灵活配置型基金超越,净值则是在 2015 年 2 季度至 2018 年 2 季度的少数时点上被灵活配置型基金超越;直至2024 年末, 数量和净值才被被动指数型基金超越。 ESG 深度报告 ESG 股票基金的发展历程与绩效表现 4、整体来看,ESG 股票基金偏好大盘股和高成长股,在投资成长股市则获得 了可观的正向溢价,同时还能获得一定程度的的超额收益。 5、从不同主题基金来看,ESG 主题基金(纯 ESG、ESG 策略基金)与泛 ESG 基金的收益率差距不大,都偏好大盘股和高成长股;泛 ESG 基金对高成长股 的偏好要强于 ESG 主题基金,而且相比于泛 ESG 基金,ESG 主题基金对估值 较高股票没有显著偏好。 本报告系统梳理了中国 ESG 股票基金的发展演进过程,并通过因子模型回归 分析揭示 ESG 股票投资的收益与风格特征,研究结果发现: 1、ESG 股票基金的数量呈稳步增长态势,份额和净值则集中在相关股票市场 大涨的几个时间区间里快速放量。截 ...
东山精密:拟出资不超过3000万美元参与投资新能源基础设施基金
news flash· 2025-07-11 10:18
智通财经7月11日电,东山精密(002384.SZ)公告称,公司全资子公司DSG拟受让香港东山投资控股有限 公司拟参与投资的China Renewable Power Infrastructure LPF基金份额,出资不超过3000万美元,资金来 源为自有资金。该基金主要投资光伏、风电等新能源基础设施及配套储能项目,目标规模不超过6.5亿 美元。本次交易构成关联交易,但不构成重大资产重组。 东山精密:拟出资不超过3000万美元参与投资新能源基础设施基金 ...
上交所发布《上海证券交易所证券交易规则适用指引第2号——沪股通投资者程序化交易报告》
news flash· 2025-07-11 10:15
Core Viewpoint - The Shanghai Stock Exchange (SSE) has released guidelines for the reporting of algorithmic trading by investors participating in the Shanghai-Hong Kong Stock Connect, effective from January 12, 2026 [1] Summary by Sections Overall Requirements and Reporting Scope - Investors engaging in algorithmic trading of stocks and funds through the interconnection mechanism between mainland and Hong Kong stock markets must fulfill reporting obligations, ensuring that the reported information is true, accurate, and complete [1] Reporting Path and Timeliness - A "report first, trade later" requirement is established, where clients of Hong Kong Stock Exchange (HKEX) participants must report to their executing participants, who then must submit the information to the SSE within five trading days [1] Types of Reported Information - Required reporting information includes basic information, funding details, trading information, and trading software information, with the SSE having the authority to request assistance from HKEX in contacting investors [1] High-Frequency Trading Management - Investors identified as engaging in high-frequency trading must provide additional details such as the location of trading system servers, system testing reports, and emergency plans [1] Responsibilities of HKEX Participants - HKEX participants are responsible for ensuring their clients fulfill reporting obligations and must verify the information within their knowledge limits. If clients fail to comply after reminders, participants must refuse to accept their algorithmic trading orders [1] Regulatory Requirements - The SSE can request HKEX to take regulatory actions or disciplinary measures against entities that fail to meet reporting obligations, provide incomplete information, or have discrepancies between reported information and trading behavior [1] Access to Client Information - The SSE can obtain client information related to profit swap activities conducted by algorithmic trading investors through regulatory cooperation arrangements [1]
东山精密:子公司DSG出资不超过3000万美元认购基金份额
news flash· 2025-07-11 10:15
东山精密(002384)公告,公司全资子公司DSBJ Pte.Ltd.(DSG)受让香港东山投资控股有限公司拟参与 投资的China Renewable Power Infrastructure LPF(CRPIF基金)份额,基金目标规模不超过6.5亿美元, DSG将出资不超过3000万美元认购基金份额。本次投资资金来源于公司自有资金。 ...
云天励飞: 对外投资管理制度
Zheng Quan Zhi Xing· 2025-07-11 10:11
Core Viewpoint - The document outlines the external investment management system of Shenzhen Yuntian Lifei Technology Co., Ltd., emphasizing the need for compliance with relevant laws and regulations while ensuring effective risk control and resource allocation in investment activities [1][2]. Group 1: General Principles - The external investment management should align with the company's development strategy, optimize resource allocation, and create good economic benefits [2]. - Investments involving raised funds must comply with the company's articles of association and fundraising management system [2]. - Related party transactions in external investments must adhere to the company's articles of association and related transaction decision-making system [2]. Group 2: Approval Authority - The company implements a professional management and hierarchical approval system for external investments [3]. - Certain investment matters must be submitted to the board of directors for review and timely disclosure if they meet specified thresholds, such as asset total exceeding 10% of the latest audited total assets [3][4]. - Investment matters requiring shareholder approval include those where the asset total exceeds 50% of the latest audited total assets [4]. Group 3: Organizational Management - The decision-making bodies for external investments include the shareholders' meeting, board of directors, and general manager, each operating within their authority [5]. - The board's strategic committee is responsible for evaluating major investment projects, including feasibility and risk assessments [5]. - The capital department manages external investments, including project evaluation and post-implementation assessment [5]. Group 4: Investment Management - After approval, authorized departments or personnel implement the investment plan and must not pay investment funds or transfer assets before signing contracts [6]. - The company may send representatives to the invested entity for tracking management and must report any anomalies to the chairman or general manager [6]. - Periodic management and evaluation of investment projects are required, with reports submitted to the general manager and board of directors [6]. Group 5: Disposal of Investments - The company may dispose of investments under specific circumstances, such as the investment project reaching its operational term or facing bankruptcy [7]. - The capital department leads the analysis and justification for any proposed disposals, ensuring compliance with legal regulations [7]. - The approval authority for disposing of investments is the same as for implementing investments [7]. Group 6: Information Disclosure - The company must fulfill information disclosure obligations according to relevant laws and internal regulations regarding external investments [8]. - All personnel with knowledge of undisclosed investment matters are bound by confidentiality obligations [8]. - Subsidiaries must provide accurate and timely information to the company for compliance with disclosure requirements [8].