Group 1 - The long-term outlook for China's technology industry indicates a continuous rise in the premium center, with significant excess returns for Hong Kong stocks in the technology sector over the past 20 years [1] - The technology sector in Hong Kong has shown high elasticity and sustainability during various market cycles, with each increase in technology premium closely linked to industrial transformations, typically occurring in approximately five-year cycles [1] - Core industries within the technology sector are entering a localization phase, with new productive industries such as artificial intelligence, humanoid robots, and low-altitude economy receiving policy support [1] Group 2 - The Hong Kong Technology ETF (code: 513020) tracks the Hong Kong Stock Connect Technology Index (code: 931573), which is compiled by China Securities Index Company and selects up to 50 high-quality companies from the technology sector listed within the Stock Connect range [1] - This index aims to comprehensively reflect the overall performance of securities from technology companies that can be invested in through the Stock Connect channel, with constituent stocks showing significant growth potential and market volatility characteristics [1] - Investors without stock accounts can consider the Cathay China Securities Hong Kong Stock Connect Technology ETF Initiated Link C (015740) and Link A (015739) [1]

Core Viewpoint - The 2025 Global MedTech Top 100 (GMT100) list highlights the dominance of major players in the medical technology industry while showcasing the rise of Chinese and Asia-Pacific companies in the global market [3][4][5]. Global Overview - The top 10 companies continue to dominate the market, with Medtronic leading at a revenue of 239.45 billion RMB for 2024. The total revenue of the top 10 exceeds 1.6 trillion RMB, accounting for over 60% of the total revenue of the list [5][14]. - The list reflects a "pyramid" structure in the medical technology industry, where smaller companies focus on niche markets but show significant innovation and growth potential [10][11]. Regional Distribution - North American companies hold a significant share of the list, with the top 10 generating over 16 trillion RMB in revenue. Asian companies, particularly from China, are increasingly making their presence felt [11][14]. - Chinese companies have shown remarkable performance, with 12 firms making it to the top 100, collectively generating over 200 billion RMB in revenue for 2024, marking a further increase from the previous year [4][14]. Industry Concentration and Future Outlook - The medical technology industry exhibits a "Matthew Effect," where the top 10 companies control over 60% of the market share, while emerging companies challenge traditional players with innovative technologies [13][14]. - The future of the industry is expected to witness significant technological changes and market reshuffling, with the GMT100 serving as a record of these developments [13][14].

上天天基金APP搜索【777】注册即可 领500元券包，优选基金10元起投！限量发放！先到 先得！ 7月18日早 盘，A股三大指数集体高开， 创业板指一度涨逾1%。 截至发稿，沪指涨0. 28 %，深成指涨0. 28 %，创业板指涨0. 43 %。 板块方面，锂矿、稀土、多元金融等板块涨幅居前，而汽车零部件、零售、摩托车等板块震 荡调整。 | 样士 | 稀有全属 | 稀土永磁 | 锂矿 | 點開提經 | 多元全融 | ■本全属 | 芸会属 | 化肥农药 | 煤炭 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 5.29% | 3.46% | 3.29% | 3.04% | 2.77% | 2.16% | 2.05% | 2.01% | 1.43% | 1.31% | | 小会属 2.58% | Kimi 1.96% | 固态电池 1.68% | 积出中継碎 1.59% | 保险 1.49% | 保 1.25% | 化工原料 1.19% | 石油化工 1.05% | 湘 1.03% | 教育 0.98% | | 汽车配件 -0. ...

截至2025年7月18日午间收盘，中证全指原材料指数(000987)强势上涨1.70%，成分股盛新锂能 (002240)10cm涨停，北方稀土(600111)上涨8.83%，包钢股份(600010)上涨7.46%，万华化学(600309)，盛 和资源(600392)等个股跟涨。材料ETF(159944)半日收涨2%。 截至7月17日，材料ETF近5年净值上涨17.14%。从收益能力看，截至2025年7月17日，材料ETF自成立 以来，最高单月回报为20.09%，最长连涨月数为5个月，最长连涨涨幅为41.49%，上涨月份平均收益率 为5.90%。截至2025年7月17日，材料ETF近3个月超越基准年化收益为6.95%。 该机构表示，近年来，随着新能源汽车销量的快速增长，成为稀土永磁重要的增长点。未来，随着人形 机器人和低空等新兴产业，以及更多节能和智能化产品的问世，稀土永磁的需求将长期保持较高速增 长。 数据显示，截至2025年6月30日，中证全指原材料指数(000987)前十大权重股分别为紫金矿业(601899)、 万华化学(600309)、盐湖股份(000792)、北方稀土(600111)、洛阳钼业(603 ...

【导读】狂买这些股， 又一批绩优基金经理二季报披露！ 中国基金报记者 曹雯璟 伴随基金二季报密集披露，绩优基金经理的最新持股变动、投资策略，以及对下半年的布局思路浮出水面。 根据二季报，该基金重点布局制造业、新能源、新技术等。具体来看，与一季度相比，五洲新春、汉威科技分别遭减仓93.11万股、21万 股，肇民科技、隆盛科技、北特科技、祥鑫科技、浙江荣泰、斯菱股份等新晋十大重仓股。 | 排名 | 证券代码 | 证券名称 | 持仓数量 | 持仓变动 | 持仓变动幅度 | 持仓市值 | 持仓占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 300953.SZ | 震裕科技 | 547.01万股 | 216.8万股 | 65.65% | 5.54亿元 | 5.10% | | 2 | 002779.SZ | 中坚科技 | 611.26万股 | 195.1万股 | 46.88% | 4.6 乙元 | 4.24% | | 3 | 300007.SZ | 汉威科技 | 1125.03万股 | -21万股 | -1.83% | 4.57亿元 | 4.20% ...

证券研究报告 | 公司深度报告 2025 年 07 月 18 日 鼎泰高科（301377.SZ） PCB 主业业绩拐点持续兑现，切入机器人赛道打开成 长空间 周期/金属及材料 鼎泰高科是全球 PCB 钻针龙头，凭借产品+成本+交付+客户优势，实现市占 率稳步提升，2023 年全球市占率为 26.5%，龙头地位稳固。短期看，AI 算力 及终端创新需求共振，公司主业业绩拐点持续兑现；长期看，公司凭借技术同 源性，自制磨床切入丝杠生产领域，有望受益人形机器人发展浪潮，打开成长 天花板。首次覆盖，给予"增持"评级！ q 传统主业：AI 算力+科技创新新需求共振，公司盈利能力逐季提升。 q 潜在期权：具备设备自研基因，切入机器人赛道打开成长天花板。 增持（首次） 当前股价：40.12 元 基础数据 | 总股本（百万股） | 410 | | --- | --- | | 已上市流通股（百万股） | 71 | | 总市值（十亿元） | 16.4 | | 流通市值（十亿元） | 2.8 | | 每股净资产（MRQ） | 6.2 | | ROE（TTM） | 10.1 | | 资产负债率 | 29.3% | | 主要股东 | 广 ...

Investment Rating - The report assigns a "Buy" investment rating for the company, marking its first coverage [2][7]. Core Insights - The company has shown continuous growth in sales, with a revenue of 177.61 billion yuan in 2024, representing a year-on-year increase of 17.46%. The revenue breakdown includes 117.5 billion yuan from power products, 51.9 billion yuan from polymer materials, and 5.0 billion yuan from communication products [4]. - The company is expanding its market share in the polymer materials sector, with a current domestic market share of approximately 20%, up from about 15% in 2021. The production capacity for high-pressure insulation materials is expected to reach 60,000 tons after the completion of ongoing projects [5]. - The company has strategically positioned itself in the robotics cable market, becoming the largest supplier of robotics cables for KUKA in China and successfully entering new fields such as humanoid robots and robotic dogs [6]. - Revenue forecasts for 2025-2027 are projected at 206.29 billion yuan, 240.68 billion yuan, and 281.33 billion yuan, respectively, with corresponding EPS of 0.53 yuan, 0.65 yuan, and 0.81 yuan, indicating a positive growth trajectory [7][9]. Summary by Sections Sales Performance - In 2024, the company achieved a revenue of 177.61 billion yuan, a 17.46% increase year-on-year. The revenue from power products, polymer materials, and communication products was 117.5 billion yuan, 51.9 billion yuan, and 5.0 billion yuan, respectively [4]. Market Position and Expansion - The company has increased its market share in high-pressure insulation materials to about 20%. The production capacity is set to expand significantly with ongoing projects [5]. - The company has established a strong foothold in the robotics cable market, collaborating with major players and achieving significant sales milestones [6]. Financial Projections - The company forecasts revenues of 206.29 billion yuan, 240.68 billion yuan, and 281.33 billion yuan for 2025, 2026, and 2027, respectively. EPS is expected to grow from 0.53 yuan in 2025 to 0.81 yuan in 2027 [7][9].

除上述4家市值千亿公司，江苏另有江苏银行、国电南瑞、华泰证券、南京银行、恒瑞医药、药明康德 等6家进入"市值千亿俱乐部"。这10家公司有1家为酒企，2家来自医药行业，3家为金融企业，另外4家 则是高端制造业，凸显了江苏制造大省的地位。 沪电股份在7月17日股价大涨8.59%，总市值随之达到1022亿元。这家深耕印制电路板（PCB）领域的企 业，2025年上半年预计实现归母净利润16.5亿元至17.5亿元，同比大增44.63%至53.40%，创历史同期新 高。 作为国内知名酒企，洋河股份本就是千亿"常客"，虽然此前因股价下滑短暂退出千亿俱乐部，但是近期 再度回归。目前，公司坚守大单品策略，低政务占比将强化抗风险能力。据了解，公司聚焦海之蓝、梦 之蓝M6+等核心产品，并将海之蓝定位"200亿级超级单品"，目前第七代升级产品已在江苏省内上市， 江苏省外下半年全面推出。同时，海之蓝江苏省内库存已降至10%以下，本土市场仍有进一步提升空 间。公司还计划推出光瓶酒新品，定位50元+，目标是打造第三大单品。 恒立液压自今年1月以来，因人形机器人概念，股价已接近翻倍，市值也再度回归千亿以上。目前，公 司线性驱动器项目进入批量 ...

Group 1 - The core viewpoint of the news highlights the performance and growth of the Robot ETF, which has seen significant liquidity and inflow, indicating strong market interest in the robotics sector [1][2] - As of July 17, 29 humanoid robot concept stocks have released their 2025 earnings forecasts, with 23 stocks expecting positive results, showcasing optimism in the sector [1] - The Robot ETF has experienced a net inflow of 462 million yuan over the past five trading days, significantly outperforming similar funds, and has grown over 11 billion yuan in scale this year [1] Group 2 - Dongwu Securities emphasizes that lightweight design is crucial for the commercialization of humanoid robots, addressing key industry challenges such as endurance and flexibility [2] - The Robot ETF is the only one in the market with a scale exceeding 10 billion yuan, covering various segments of the robotics industry, which aids investors in diversifying their investments [2]

国都创新驱动灵活配置混合型证券投资基 金 基金管理人：国都证券股份有限公司 基金托管人：兴业银行股份有限公司 报告送出日期：2025 年 7 月 18 日 国都创新驱动 2025 年第 2 季度报告 §1 重要提示 基金管理人的董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 基金托管人兴业银行股份有限公司根据本基金合同规定，于 2025 年 7 月 16 日复核了本报告 中的财务指标、净值表现和投资组合报告等内容，保证复核内容不存在虚假记载、误导性陈述或 者重大遗漏。 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅读本 基金的招募说明书。 本报告中财务资料未经审计。 本报告期自 2025 年 4 月 1 日起至 6 月 30 日止。 §2 基金产品概况 基金简称 国都创新驱动 基金主代码 002020 基金运作方式 契约型开放式 基金合同生效日 2015 年 12 月 28 日 报告期末基金份额总额 15,551,291 ...