第八届（2025）西湖大会举行当天正值小满节气。主办方设置了以节气命名的特色对话环节——小满茶座。来自金融资本、产业资本和实体产业的相关负责 人，以实践为基石、以融合为导向，展开了一场资本与产业协同发展的探讨。 与会人士指出，各方耐心资本应携手共同构建金融助力科技型产业发展的矩阵，打造资本强引擎，为新质生产力发展持续注入动能。 浙银理财有限责任公司董事长武国元表示，理财机构应以"站位要高、业务要精、成果要实"为理念，聚焦居民财富管理与产业长期资本需求之间的价值闭环，打造 可持续的"共富型"资管模式，"公司成立后开发了'同善共富''同赢共富''同心共富'等共富系列理财产品"。 通过共富系列理财产品，浙银理财将居民零散资金转化为支持共同富裕示范区建设的长期资本，既实现了财富保值增值，同时又为实体经济注入了金融活水。武国 元表示，公司还构建大类资产配置模型，通过策略引领、专业配置和产品价值实现，有效引导居民财富向服务新质生产力的长期资本转化。 南华期货总经理贾晓龙表示，中国期货市场功能扎根于服务实体经济，帮助企业做好全方位的风险管理服务。在他看来，伴随着大宗商品以及海外贸易的快速发 展，企业境外避险需求逐步提升，中 ...

以下文章来源于财经图解 ，作者辣笔小强 财经图解 . 财经大事早知道，关注东方财富股票！ 5月26日，中科院系概念走强，中科信息、中国科传双双涨停；国科恒泰、星图测控、中科环保等也明 显上涨。 开源证券研报指出，"并购六条"落地以来，央国企整合与硬科技并购已逐渐成为本轮并购重组浪潮的两 大核心趋势。一方面，在国企改革政策支持、产业转型升级、集团资产证券化与市值管理考核等多重因 素的驱动下，央国企有望成为新一轮并购重组浪潮的主导力量。另一方面，支持科技型企业并购重组的 相关政策频繁发布，重点提出要优先支持开展关键核心技术攻关的科技型企业并购重组，加大力度培育 壮大科技领军企业和链主型龙头企业。 仅供投资者参考，不构成投资建议 免责声明 文章转载自公众号"财经图解"，以上观点来自相关机构，不代表天天基金的观点，不对观点 的准确性和完整性做任何保证。收益率数据仅供参考，过往业绩和走势风格不预示未来表 ↓ 点击"阅读原文" 或上天天基金APP搜索【777】 注册领98元券包 ，优选基金10元起投！ 消息面上，5月25日晚间，沪市主板上市公司中科曙光与科创板上市公司海光信息双双发布公告称，两 家公司拟进行战略重组。根据 ...

Group 1 - The core viewpoint is that the rapid development of artificial intelligence (AI) is reshaping the investment logic in the technology sector, transitioning from a narrative of "value stocks" to "growth stocks" [1][25][26] - The investment strategy in the technology sector is evolving, emphasizing a combination of top-down and bottom-up approaches to capture fundamental changes and opportunities within the industry [1][28] - The proportion of holdings in "hard technology" within public funds has increased significantly, with the share of Sci-Tech Innovation Board stocks rising from 10.31% in H1 2021 to 41.78% in H2 2023, indicating a shift in investment focus [1][29] Group 2 - Active technology funds have shown superior long-term performance compared to passive funds, with an annualized return of 8.98% from January 2014 to April 2025, significantly outperforming passive technology indices [2][10] - A timing strategy based on the CSI TMT Index has been developed, utilizing five effective indicators, achieving a total success rate of 52.36% and an excess annualized return of 11.39% [2][10] - The differentiation in technology sub-sectors is increasing, with a higher degree of industry dispersion, which poses greater challenges for fund managers who previously relied on concentrated positions in single sectors for returns [1][39][42] Group 3 - The investment strategies of active technology funds are categorized into five types, each suited to different market phases, including Beta-type funds focusing on high positions, Alpha-type funds selecting high-growth stocks, and flexible rotation funds [3][11] - The market sentiment, as reflected by financing balances, indicates a shift towards left-side layout trends, with a significant increase in financing balances for AI indices, suggesting a growing bullish sentiment [1][35][33] - The performance of technology stocks is increasingly driven by their ability to convert R&D investments into cash flow and technological barriers, marking a transition from speculative narratives to application-driven evaluations [1][27][26]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Composite Index fell by 0.55% as of May 27, with mixed performance among constituent stocks [1] - Key gainers included KJ Intelligent with two consecutive trading limits, Sangfor Technologies up by 17.46%, and Junshi Biosciences up by 8.67% [1] - Major decliners included Weide Information down by 7.53%, Green Harmony down by 6.82%, and Guoguang Electric down by 5.26% [1] Group 2 - The Huaxia Sci-Tech Innovation Index ETF closely tracks the Shanghai Stock Exchange Sci-Tech Innovation Board Composite Index, focusing on hard technology sectors such as new generation information technology, high-end equipment, biomedicine, new energy, new materials, and energy conservation and environmental protection [2] - The Huaxia Sci-Tech Innovation Index ETF (589000) had a turnover of 1.85% during the trading session, with a transaction volume of 49.68 million yuan [1] - Over the past three months, the Huaxia Sci-Tech Innovation Index ETF has seen a significant growth of 1.156 billion yuan, ranking first among comparable funds [1] Group 3 - Institutional research trends indicate that electronics, machinery equipment, and biomedicine are the most frequently researched industries by brokerages since 2025 [1] - More than 30% of over 2,000 listed companies surveyed this year are concentrated in the electronics, machinery, and biomedicine sectors [1] - In May alone, over 90 companies were targeted for brokerage research, primarily in sub-sectors such as electronic components, integrated circuits, and semiconductor materials and equipment [1]

Group 1 - The event "In Xi'an, See China" is a research activity involving foreign experts from 10 countries, aimed at exploring the innovative landscape of Xi'an from May 26 to 28 [1] - The foreign experts will engage in a comprehensive investigation of Xi'an, including visits to technological enterprises and cultural sites, to understand the city's transformation and development [1] - The representative of the foreign expert group highlighted the blend of traditional and modern elements in Xi'an, emphasizing the city's rich historical culture and dynamic technological innovation [1] Group 2 - Beilin District is noted for its abundant scientific and educational resources, with a technology contract transaction volume of 49.7 billion yuan in 2024 [2] - The Ring University Hard Technology Innovation Street is recognized as one of the first national innovation pilot districts, housing 17 national incubators and 586 high-tech enterprises [2]

以下文章来源于睿兽Pro ，作者Bestla 睿兽Pro . 创业邦旗下横跨一二级市场的科创数据平台。实时投资数据、追踪产业创新。找数据、做分析、链资 源，就上睿兽分析。 上周基金重点事件回顾丨 05.19-05.25 睿兽分析每周整理最值得关注的 基金重点事件 ，帮助大家及时了解全球私募股权基金市场动向。 政府引导基金 为助力实现 "三高四新" 美好蓝图，加快建设现代化产业体系，湖南省金芙蓉产业引导基金拟设立空 天海洋产业子基金，现面向社会公开遴选管理机构。湖南省金芙蓉产业引导基金经省政府批准、省财 政厅牵头组建，由湖南财信金融控股集团旗下的湖南省财信产业基金管理有限公司管理。新设立的空 天海洋产业子基金，主要投资空天海洋产业，重点投向航空航天及北斗产业链优质企业，以及省内强 链补链延链项目，以壮大湖南空天海洋产业，促进科技成果转化，支持企业全生命周期发展。参与遴 选的机构需满足多项条件。须取得私募股权投资基金管理人相关登记备案资质，实缴注册资本不低于 1000 万元人民币。至少具备 3 名拥有 3 年（含）以上投资基金管理工作经验，或有空天海洋产业相 关背景的专职高级管理人员，且子基金管理机构及管理团队主 ...

在科技创新的浪潮中，"硬科技"企业作为我国科技自立自强的重要力量，正面临前所未有的发展机遇 与挑战。 在走访科技型企业的过程中证券时报记者注意到，从初创期的普惠贷款，到成长期的信用贷款，再到成熟期企 业出海拓展业务的跨境金融服务，金融机构的精准服务贯穿了企业发展的每一个关键节点。 近年来，金融系统积极落实国家关于金融支持科技创新的战略部署，通过全生命周期金融服务，为"硬科技"企 业提供了坚实的资金支持和多元化的金融保障，助力企业在风雨中稳健前行。随着金融科技创新不断"开花结 果"、多层次资本市场机制完善，多元化、多层次、多渠道的科技投入格局正在形成，助力"硬科技"企业继续 长跑。 面对尚未盈利的初创期科技企业，金融机构如何做到"敢贷""愿贷"？"简单来说，就是通过调整审计偏好、完 善尽职免责设计等，提升支持科技创新的积极性。"中国银行深圳高新区支行副行长陈铭泽对记者说，得益于 机制的完善，现在银行为未盈利的科创企业授信基本没有后顾之忧。 为做好科技金融大文章，近年来，金融部门出台多项措施，引导金融机构持续强化对科技创新的金融支持。中 国人民银行通过推出科技创新再贷款等货币政策工具，引导金融机构加大对科技企业的 ...

Group 1 - The core viewpoint of the conference is the emphasis on the development of high-quality funds, with a focus on innovative investment strategies in the technology sector [1] - Huabao Fund has established a diversified ETF matrix consisting of 15 high-quality ETFs, with a total asset management scale of 42.9 billion yuan as of May 12, 2025 [2] - The company has launched the first "Entrepreneurial Board Artificial Intelligence ETF" and "Science and Technology Innovation Artificial Intelligence ETF," positioning itself as a leader in the AI ETF market [2] Group 2 - Anxin Fund's primary focus remains on active management, with plans to develop passive business in the future [3] - The company believes that active management has significant growth opportunities, as historical data shows that public funds have generally achieved positive returns outside of the last two years [3][4] - Anxin Fund asserts that with the right alpha strategies, the likelihood of achieving positive returns will increase significantly in the future [3]

证券时报记者李明珠 近日，清川私募基金管理(无锡)有限公司(品牌名"静水湖创投")正式对外宣布新一只基金——无锡静水 湖和光一号创业投资合伙企业(有限合伙)(以下简称"和光一号")完成募集设立。 这是继静水湖鼎辰S基金之后，静水湖创投在短时间内又成功募集的新一只基金，也是静水湖创投尝试 新的基金产品、丰富基金产品矩阵的又一落子。与往期基金不同的是，和光一号是静水湖创投完全基于 财务投资人需求和风险偏好，以纯市场化的基金募集、投资和运营管理策略所设立的首期FOF基金。 张毅指出："纯财务性质的投资人有着明确的投资目标，即在平衡风险和流动性的基础上尽可能获取更 高的投资回报。静水湖创投此前较好的业绩回报是老投资人能快速决策参与到我们和光一号中来的必要 基础。而且和光一号是盲池中的盲池，周期相对于一般创投基金也会更长。这在当前的市场环境下，对 我们来说，更具有代表性意义。" 对于FOF基金，从行业看，VC机构设立发行该类基金产品并不特别常见；从产品特性看，FOF基金具 有长周期、低波动等特点，可以通过多只基金/标的的多元化组合来降低单一资产或基金的非系统性风 险。这类基金的本质是一种符合投资人低波动需求的资产组合， ...

继静水湖鼎辰S基金之后，静水湖创投在短时间内又成功募集的新一支基金。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 清川私募基金管理（无锡）有限公司（品牌名 "静水湖创投"） 日前 正式对外 宣布新一支基金 ——无锡静水湖和光一号创业投资合伙企业(有限合伙)（以下简称"和光一号"）成 功募集。 这是继静水湖鼎辰 S基金之后，静水湖创投在短时间内又成功募集的新一支基金。 与往期基金不同 的是，和光一号是静水湖创投完全基于财务投资人需求和风险偏好，以纯市场化的基金募集、投资和 运营管理策略所设立的第一支 FOF基金 。 值得一提的是， 和光一号以超高复投率和募集效率完成关闭，主要投资人为静水湖创投过去几期基 金服务的高净值企业家和财务投资人群体 。他们高度认可静水湖创投在硬科技领域的投资策略以及 过往的基金业绩回报，对静水湖创投的管理团队具有高度的信任感。所以 该支基金在募集过程中， 静水湖创投并未明确相关储备项目或其他指向性标的，是真正意义上的 "盲池的盲池"基金。此外， 与过去常规的七年基金期限不同，和光一号的基金期限为十年，这也是LP给予了 ...