港股科技30ETF（513160）紧密跟踪恒生港股通中国科技指数，该指数跟踪可经港股通买卖，从事科技 业务并于香港上市的内地公司之表现。 消息面上，据21世纪经济报道，资金潮涌香江，港股核心资产备受关注。今年以来，港股科技板块凭借 估值优势与成长确定性，率先引领中国资产价值重估进程，并成为全球资金增配中国科技的核心标的。 数据显示，今年上半年，南向资金累计净流入港股超6870亿港元，且下半年流入速度仍在呈现加速趋 势。8月15日，南向资金净买入354.23亿港元，且年初以来累计净流入超9000亿港元，创年度净流入额 历史新高，显著超过2024年8078.69亿港元的水平。同期，港股主题ETF亦获得强劲资金流入，年内净 申购额已超千亿元。 国泰海通指出，展望下半年，港股牛途继续向上。尽管6月末以来港股表现偏弱，但美联储降息或临 近，港币汇率持续承压现状或有望扭转，汇率对港股的压制作用也将弱化。借鉴历史上港股占优行情， 本轮港股强劲源于港股资产更具稀缺性，吸引增量资金不断流入。港股科技、消费类资产与当前AI应 用、新消费等产业趋势相关度更高，且基本面更优，相较A股而言仍具有稀缺性，有望吸引南向资金继 续流入。AI ...

Core Insights - Southbound capital inflow reached a record high of 35.876 billion HKD on August 15, with cumulative inflow exceeding 940 billion HKD for the year, surpassing last year's total of 807.9 billion HKD [1][9] - The Hong Kong Technology 50 ETF (159750) has seen continuous inflow for 14 days, totaling 67.3 million HKD year-to-date [1] - The information technology and healthcare sectors recorded net purchases of 7.4 billion HKD and 3.9 billion HKD respectively, with their market capitalization share increasing [1][9] Industry Analysis - The strong performance of Hong Kong stocks is attributed to their scarcity and alignment with current trends in AI applications and new consumption, making them attractive to incremental capital inflows [1][12] - The Hong Kong Technology Index, which tracks major tech companies, has a high concentration of "core tech assets," covering 100% of the "Ten Giants" in the tech sector, with a weight of 70% [1][4] - The latest valuation of the Hong Kong Technology Index stands at 22.9 times PE, within the historical 10% percentile [6] Market Trends - The financial sector has seen a slowdown in net inflow compared to previous periods, while technology and consumer sectors are gaining more attention [1][9] - As of August 15, 58% of major overseas Chinese stocks have reported positive mid-year earnings forecasts, indicating a recovery in profitability [12] - The improvement in liquidity and the expected recovery in fundamentals are crucial for sustaining the current market rally [12]

资金潮涌香江，港股核心资产备受关注。今年以来，港股科技板块凭借估值优势与成长确定性，率先引 领中国资产价值重估进程，并成为全球资金增配中国科技的核心标的。 数据显示，今年上半年，南向资金累计净流入港股超6870亿港元，且下半年流入速度仍在呈现加速趋 势。8月15日，南向资金净买入354.23亿港元，且年初以来累计净流入超9000亿港元，创年度净流入额 历史新高，显著超过2024年8078.69亿港元的水平。同期，港股主题ETF亦获得强劲资金流入，年内净 申购额已超千亿元。 在此背景下，华夏国证港股通科技交易型开放式指数证券投资基金（简称：港股通科技ETF基金，代 码：159101）于8月18日起重磅发售，该指数通过紧密跟踪国证港股通科技指数（代码：987008），为 投资者提供了一键布局港股科技龙头的便捷工具。 最猛赛道，港股主题ETF"吸金"强劲 规模节节攀升，各类资金争相涌入……2025年的港股通ETF可谓是市场"新宠"。今年前7个月，港股主 题ETF净申购额达1025亿元。其中大部分资金通过港股通渠道流入。7月以来，更有超500亿元资金涌入 港股主题ETF，推动相关产品年内净申购总额突破千亿元大关。 其 ...

Core Insights - Shenzhen Xiaokuo Technology has rapidly grown from a small rental space to a global market player, achieving sales of 1 billion yuan within 80 days of launching its mouthwash product and reaching annual sales of 2 billion yuan [1][2]. Company Overview - Xiaokuo Technology was founded in 2018 in a 60-square-meter rental unit in Bao'an, Shenzhen, by Yin Kuo, who identified a gap in the oral care market for innovative and appealing products [2]. - The brand "Canban" emphasizes a blend of handcraft and technology, focusing on modern consumer preferences for functionality, experience, and aesthetics in oral care products [2]. Product Development and Market Strategy - The company launched its probiotic mouthwash in 2020, which quickly gained popularity, leading to significant sales growth [2]. - Xiaokuo Technology has developed a comprehensive product matrix that includes toothpaste, toothbrushes, and mouthwash, achieving annual sales exceeding 2 billion yuan [2]. Market Expansion - The brand is expanding into offline and international markets, with over 500,000 sales terminals established across more than 1,000 cities in China [3]. - Xiaokuo Technology's products are now available in over 20 countries, including the United States and Thailand, with a growth rate of 2-3 times annually, dominating the toothpaste sales rankings on various e-commerce platforms in Southeast Asia [3]. Entrepreneurial Environment - Shenzhen is highlighted as a supportive environment for startups, characterized by high industrial density, innovation, and favorable policies, which have been crucial for Xiaokuo Technology's growth [4]. - The city provides a vibrant consumer market and a testing ground for new brands, particularly appealing to young consumers aged 18 to 35 [4].

7月，A股整体呈现"指数突破、热点轮动、量能放大"的特点。上证指数7月9日首次突破3500点，月末收于3600点上方。AI算力、雅鲁藏布江水电站等热 点轮番领涨。在私募行业，多位基金经理在不断向好的行情下取得了亮眼的业绩。 私募排排网数据显示，截至7月31日，旗下至少有3只产品符合排名规则的基金经理共有533位，今年来收益均值为15.01%。其中，百亿私募旗下基金经理 今年来平均收益为17.82%，在六大规模组的基金经理中位居第1。 | 所属公司规模 | 至少有3只产品有符合排名规 则的基金经理数 | 今年来平均收益 | | --- | --- | --- | | 100亿以上 | 64 | 17.82% | | 50-100亿 | 47 | 13.58% | | 20-50亿 | 83 | 12.75% | | 10-20亿 | 72 | 17.53% | | 5-10亿 | 90 | 14.71% | | 0-5亿 | 177 | 14.57% | | 总计 | 533 | 15.01% | 接下来，笔者将从六大私募公司规模组（100亿以上、50-100亿、20-50亿、10-20亿、5-10亿、0-5亿 ...

华泰证券在《预期验证期不改港股中枢上移趋势》中指出，港股流动性或依然偏宽松。南向资金近期呈 现明显的逆势而动特点，尤其是在上周五大幅逆势流入超300亿港币，南向在港股通个股成交占比已经 突破40%。当下，市场处于交易主线相对缺乏、海外及国内重要事件等待验证的关键阶段，也正是仓位 调整的窗口期。中报视角下，该机构建议关注：1）高景气估值性价比的游戏、互联网电商龙头；2）估 值修复较多但业绩预喜率高、增长预期有望上修的创新药和大金融，包括本地金融股。 8月18日早盘，恒生科技指数高开高走，一度涨近1.5%。A股同赛道规模领先的恒生科技指数ETF （513180）跟随指数震荡上行，持仓股中，蔚来、商汤、京东集团、网易、京东健康、百度集团等领 涨，其中，蔚来一度涨近8%。 资金面上，南向资金正加速流入港股。上周五（8月15日），南向资金净流入358.76亿港元，刷新历史 最高单日净流入纪录。截至8月15日，今年以来南向资金累计净流入9389.21亿港元，已远超2024年全年 总额。近期港股热度持续攀升，资金积极"抢筹"科技板块。数据显示，截至8月15日，恒生科技指数 ETF（513180）在近20个交易日中有13个交 ...

Group 1 - Hong Kong's three major indices opened higher on August 18, with mixed performance in tech stocks and a general rise in Chinese brokerage stocks [1] - The Hang Seng Tech Index saw a significant increase, reaching nearly 1.5%, with notable gains in stocks like NIO, JD.com, NetEase, and SenseTime [1] - NIO's G318 battery swap station officially commenced operations, marking the completion of the G318 battery swap route, which spans 2,950 kilometers and includes 15 stations [1] Group 2 - Southbound funds recorded a net inflow of over HKD 35.8 billion on the previous Friday, setting a new historical high [2] - The Hang Seng Tech Index ETF (513180) includes 30 leading tech stocks in Hong Kong, focusing on the AI industry chain, with potential key players like Alibaba, Tencent, and BYD [2] - Investors without a Hong Kong Stock Connect account can access Chinese AI core assets through the Hang Seng Tech Index ETF (513180) [2]

8月18日，港股早盘高开，港股科技双雄——科网、创新药再度携手走强，截至发稿，创新药新势力 ——港股通创新药ETF（520880）场内价格涨逾2%；重仓港股互联网龙头的港股互联网ETF （513770）场内价格现涨1．54%。 亚盛医药-B一度上探9%，创历史新高，消息面上，公司自主研发的利生妥治疗中高危MDS III期临床研 究获美国FDA和欧洲EMA批准。此外，权重股集体走强，三生制药涨近5%，信达生物涨超4%，再鼎医 药涨超3%。 | 序 证券代码 号 | | 证券简称 | 区间涨跌幅 [区间首日] 本年初 | | | --- | --- | --- | --- | --- | | | | | [区间尾日] 2025-7-31 | | | | | | [单位] % | | | 1 | 931637.CSI | 港股通互联网 | | 35.2406 | | 2 HSTECH.HI | | 恒生科技 | | 22.0458 | 注：中证港股通互联网指数近 5 个完整年度的涨跌幅分别为： 2020 年， 109.31% ； 2021 年， -36.61% ； 2022 年， -23.01% ； 2023 年， ...

Group 1 - The Hong Kong stock market indices opened higher, with the Hang Seng Index up by 0.09%, the Hang Seng China Enterprises Index up by 0.21%, and the Hang Seng Tech Index up by 0.4% [1] - The leading stocks in the Hang Seng Tech Index ETF (513180) included NIO, JD Group, NetEase, Baidu Group, Xiaopeng Motors, and JD Health, which saw significant gains [1] - According to Guotai Junan Securities, the current market conditions suggest that the relatively undervalued "Hong Kong tech" sector may gradually catch up, driven by liquidity and the historical pattern of bank stocks leading the rally [1] Group 2 - Recent net inflows from southbound funds exceeded 35.8 billion HKD, setting a new historical high, indicating strong interest in emerging industries like AI and new consumption [2] - The Hang Seng Tech Index ETF (513180) includes 30 leading Hong Kong tech companies, focusing on the AI industry chain, with potential key players identified as Alibaba, Tencent, Xiaomi, Meituan, SMIC, and BYD [2] - Investors without a Hong Kong Stock Connect account can access Chinese AI core assets through the Hang Seng Tech Index ETF (513180) [2]

这个7月，国际环境复杂严峻，国内部分地区出现高温、暴雨洪涝等极端天气，对经济运行造成了短期 冲击。因此，7月的经济数据如何备受关注。 8月15日，在国新办新闻发布会上，国家统计局新闻发言人付凌晖表示，在创新引领下，新动能成长壮 大，高质量发展扎实推进，经济发展"进"的步伐稳健，国民经济保持稳中有进的发展态势。 从公布的各领域数据来看，"含新量"成为当月经济运行的一大亮点。今年以来，从国内人工智能大模型 热潮到机器人马拉松，一系列科技成果令世界瞩目，更在产业端掀起"智改数转"的新浪潮，让经济发展 的"创新成色"更足、"科技分量"更重。例如，7月份我国工业生产仍展现出较强韧性和潜力，7月份规模 以上装备制造业增加值同比增长8.4%，对规模以上工业增长支撑作用明显。此外，工业机器人、服务 机器人产量分别增长24%、12.8%。可见，创新驱动成为提升经济"含新量"的核心动力。 近期，今年第三批690亿元支持消费品以旧换新的超长期特别国债资金已全部下达完毕，并将于10月按 计划下达第四批690亿元资金，届时将完成今年3000亿元的资金下达计划。 从国家统计局公布的数据来看，我还关注到一个趋势，居民精神文化需求相关服务零 ...