Group 1 - The "Starry Navigation Plan" is actively promoting mutual empowerment between the private equity industry and technology innovation enterprises, aiming to support the implementation of the financial "Five Articles" [2][3] - China Galaxy Securities is committed to building an effective communication platform within the industry ecosystem, connecting investors, technology experts, compliance personnel, and service institutions through events like salons [2] - The plan aims to enhance the comprehensive capabilities of managers in operational management, strategy trading, and research support through various initiatives such as the Starry Manager Club and honor system [3] Group 2 - The quant investment industry is evolving from a focus on tools to an upgrade in cognition, requiring managers to provide more valuable services than products [4] - China Galaxy Securities has developed the "Qirui Strategy Center" platform to provide comprehensive research and trading support for quantitative managers, featuring high-quality data sources and advanced functionalities [4][5] - The company has established an algorithm center centered around the "Qiming iTrade System," ensuring robust risk control and algorithmic trading capabilities for private equity institutions [5] Group 3 - DolphinDB focuses on addressing core pain points for brokers and private equity institutions, offering integrated quantitative research and investment solutions [6][7] - The collaboration with legal service providers aims to offer compliance interpretation, risk control setup, and training for private equity institutions, enhancing their service capabilities [7] - The salon showcased the latest achievements in quantitative technology and private equity service ecosystems, facilitating deep connections among industry participants [7]

Core Viewpoint - The event "AI Creates Everything · Quantitative Leads the Future" organized by China Galaxy Securities and DolphinDB focuses on the development of the private equity industry and the integration of quantitative technology with financial services, aiming to enhance collaboration between private equity firms and technology companies [1][2]. Group 1: Private Equity Industry Development - The "Starry Navigation Plan" is designed to empower the private equity industry and technology enterprises, promoting collaboration and openness as key drivers for the evolution of quantitative investment [1][2]. - The plan aims to create a "professional, compliant, and warm" private equity service ecosystem, enhancing the capabilities of managers in operational management, strategy trading, and research support [2]. - The initiative includes the establishment of the Starry Manager Club and a recognition system to provide comprehensive services such as product configuration, distribution, strategy incubation, and honor empowerment for private equity institutions [2]. Group 2: Technological Advancements - The event highlighted the transition in the quantitative industry from "tool competition" to "cognitive upgrading," emphasizing the need for managers to provide value-added services beyond products [2]. - The "Qirui Strategy Center" platform developed by China Galaxy Securities offers a full-chain research and trading support service for quantitative managers, featuring high-quality data sources and advanced functionalities [3]. - The platform operates 24/7, providing a high-fidelity environment for strategy development and execution, significantly improving efficiency and speed [3]. Group 3: Compliance and Risk Management - Sanchefa Technology provides comprehensive compliance and risk management services for private equity institutions, including regulatory interpretation and training [4]. - The integration of resources under the "Starry Navigation Plan" aims to enhance the service capabilities of selected private equity managers [4]. - China Galaxy Securities plans to continue collaborating with partners to support the long-term and stable development of the private equity industry in a complex market environment [4].

Group 1: Industry Insights - The asset management industry's "original intention" is to help holders share the benefits of macroeconomic growth, with the core issue being severe information asymmetry rather than a lack of quality products [2] - Approximately two-thirds of asset managers can achieve excess returns when measured against market performance, indicating that there is no "best" product, only the "most suitable" for specific investors [2] - The current low-interest-rate environment presents a significant challenge for the asset management industry, but it also serves as an important opportunity to test the professional asset management capabilities of institutions [5] Group 2: Technological Transformation - The explosion of artificial intelligence (AI) is profoundly reshaping quantitative investment logic, with AI enabling the use of previously difficult-to-apply unstructured data and improving model performance through deep learning [3][4] - The competition for top talent in quantitative institutions is intensifying, as the success of AI models heavily relies on the density of top talent [4] - The future will favor those who effectively utilize AI, as data, models, and computing power remain tools that require human oversight [3] Group 3: Strategic Adaptation - Financial companies should reconstruct their revenue sources by focusing on stable cash flow assets like infrastructure REITs and capturing structural opportunities in the equity market [5] - A customized service system should be developed based on life stages and specific goals to achieve precise matching of investor needs [6] - Companies are upgrading their credit assessment systems and innovating risk management models to shift from reactive to proactive risk prevention [6] Group 4: Investment Outlook - In the next 3 to 5 years, various asset classes, including RMB, bonds, and real estate, hold potential, but equities are particularly favored due to their relative valuation advantages in the Chinese market [6] - The Chinese equity market is currently at a historically low valuation, presenting a cost-effective investment opportunity, especially in sectors like AI, innovative pharmaceuticals, and advanced manufacturing [6]

一、数据背后的焦虑陷阱 融资余额创新高了，但操作中散户的焦虑，一点都没消除。 沪市融资余额突破1万亿元大关的消息刷屏了朋友圈，这个数字创下了近十年新高。表面上看，这是市场信心高涨的表现。但融资盘动辄超过1万亿，也很明 显是有投机资金在里面搏一把消息刺激后击鼓传花，传到哪里结束，完全不清楚。但这真的适合散户吗？恐怕，未必适合，所以千万别被其他人影响。 我见过太多这样情况：持仓大涨时纠结要不要卖出，持仓不涨时纠结要不要换仓，赚钱时纠结要不要止盈，亏钱时纠结要不要止损。这种无处不在的焦虑 感，正是机构投资者最乐意看到的局面。因为一旦陷入焦虑，散户就很容易被反复收割。 问题的根源在于，大多数投资者无法看清市场的真实交易行为。我们总是被表面的涨跌所迷惑，却忽视了决定股价走势的核心因素——机构资金的真实动 向。 二、利好背后的定价权游戏 让我们来看两个典型案例。今年中报季前夕，"盛屯矿业"和"齐峰新材"都发布了业绩预增公告。按理说，在当下经济环境下，企业能实现业绩增长是件好 事。但这两只股票的表现却大相径庭。 有人可能会说，"盛屯矿业"是因为黄金概念才上涨的。但作为一个量化投资者，我要告诉你：股市里炒作的从来不是概念本身 ...

生态共建 降低门槛培育行业新动能 行业动态 7月29日，"智数投资，邮你有未来"首届量化交易大赛启动仪式于北京隆重举行。中邮证券有限责任公 司副总裁谷文、北京创新乐知网络技术有限公司（CSDN）高级副总裁李建忠、主办方及协办方相关部 门负责人、大赛委员会及专家组成员出席现场，共同见证大赛启航。 本届赛事由中邮证券有限责任公司（以下简称中邮证券）主办、CSDN联合主办、中邮证券重庆分公司 承办、华夏基金和掘金量化协办。大赛旨在顺应资产配置大时代背景，通过激活量化领域的"新质生产 力"，驱动金融科技迭代，引流高净值客户与机构，搭建量化交流生态圈，提升科技品牌形象，推动投 资者教育，实现融合战略布局、生态培育与行业变革的深度实践。 量化大赛打造竞技与创新平台 当前，人工智能、大数据等技术正深刻重塑金融行业格局。量化投资凭借其系统性、纪律性和高效性， 日益成为市场重要力量。中邮证券始终致力于金融科技前沿探索，本届大赛依托中邮证券强大的技术平 台、研究实力、海量数据资源及北京创新乐知网络技术有限公司的生态支持，为参赛者提供实盘交易环 境及丰富多元的金融数据，打造专业、公平、高水准的竞技舞台。 大赛面向专业技术人员、行业 ...

本文首发于公众号"私募排排网"。 （点击↑↑ 上图订阅专栏 ） 编者按 在财富管理的大航海时代，私募基金以其灵活的策略、专业的团队和追求绝对收益的目标，吸引了越来越多高净值投资者的目光。然而，这个行 业也因其信息较少、不对称等特性，蒙上了一层神秘的面纱。策略如何运作？团队水平如何？短、中、长期业绩表现如何？风险控制究竟如 何......这些问题，往往是投资者在做出决策时，最难穿透的"迷雾"。正是基于此，私募排排网隆重推出 " 深度揭秘100家私募 " 栏目。为投资者拨 开云雾，提供真正有价值的深度洞察。 第二期我们将揭秘 2025上半年百亿私募收益冠军稳博投资 ，上半年收益均值约为***% （ 点此查看收益 ） 。 同时，其在近一年收益约为 ***%，位列百亿私募第3名；近三年收益均值约为***%，也上榜了百亿私募TOP10。（可参考文章： 百亿私募2025上半年业绩出炉，稳博夺 冠！ ） 下面，就让我们一起深入探寻稳博投资的制胜之道。 文章目录 0 1 公司概况 ： 公司简介、公司发展历程、核心投资理念、公司股权结构 0 2 核心投研团队： 核心投研人员、团队主要负责人、团队优势 0 3 投资策略与产品线（ ...

Group 1 - The A-share market is currently undergoing asset revaluation and presenting structural opportunities, with the launch of the Huashang CSI 800 Index Enhanced Fund aimed at efficiently covering core A-share assets and capturing market alpha returns [1] - The CSI 800 Index, as a representative broad-based index, consists of stocks from the CSI 300 and CSI 500 indices, featuring a dual-driven structure of "value blue chips + growth leaders" [1] - The index includes a wide range of industries, from mature sectors like banking and food & beverage to innovative sectors such as semiconductors, electronics, and pharmaceuticals, indicating a rich investment logic [1] Group 2 - The Huashang CSI 800 Index Enhanced Fund employs a multi-factor quantitative stock selection model developed by Huashang Fund's quantitative investment team, combining big data mining with quantitative models to construct an enhanced stock portfolio while closely tracking the CSI 800 Index [2] - The fund will be managed by Dr. Deng Mo and Dr. Hai Yang, both of whom have extensive experience in quantitative investment and securities research [2][4][6] Group 3 - Dr. Deng Mo, the proposed fund manager, has over 14 years of experience in investment research, focusing on balanced allocation and leveraging quantitative models for stock selection [4] - Dr. Hai Yang has over 8 years of experience in the securities industry, specializing in risk and return monitoring through quantitative-driven approaches [7] Group 4 - Looking ahead, Dr. Deng maintains an optimistic outlook, believing that excess returns from active quantitative models will continue to show a stable upward trend amid structural market opportunities [8] - The overall market valuation is considered relatively reasonable, and liquidity remains ample, which is favorable for the performance of multi-factor quantitative models [8] - The strategy aims to achieve excess returns through diversified allocation while maintaining a stable tracking error close to the index [8]

机构简介： 上海牧鑫资产管理有限公司成立于2014年，注册资本1000万，已取得基金业协会私募投资基金管理人资 格（登记编号：P1026632）；作为创新型资产管理公司，牧鑫资产主要专注于量化投资策略的研发、 测试、运行和管理，同时覆盖固定收益投资、另类投资及投顾服务的综合性资产管理。牧鑫资产致力于 为客户创造持续稳定的绝对收益，为国内外金融机构、企业、基金和高净值群体提供全方位的财富管 理。牧鑫资产目前产品主要专注于量化投资，坚持数量化、模型化、程序化的投资原则，以金融数学、 计量经济学、金融工程学等专业方法，研发并运行稳健的投资策略，严把风控，旨在为客户创造持续稳 定的绝对收益。除此之外，牧鑫资产还为中小金融机构提供投资顾问服务，为中小金融机构量身打造符 合自身特点的投资计划，管理其流动性，并在风险可控的情况下，实现收益最大化。牧鑫资产核心团队 成员拥有多年海内外投资研究和管理经验，教育背景囊括了数量金融工程、计算机科学、系统工程等专 业。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 根据市场公开信息及7月29日披露的机构调研 ...

来源：市场资讯 （来源：赢在纯碱） 投资战绩与策略核心理念 周期：2025.3.17 - 2025.5.6 收益：+29% | 最大回撤：2% 方法论：70%基本面驱动（产业政策/供需裂变）+30%技术面量化（趋势跟踪） 操作纪律 1. 动态跟踪：紧盯地缘事件（中东/几内亚）及国内政策细则； 2. 量化辅助：结合"大法师盯盘神器"+"大法师趋势神器"指标（克服人性30%）； 3. 核心原则：聚焦基本面与情绪共振品种（70%基本盘）。 终极目标：通过"70%基本面+30%量化"实现100%大满贯！ 终极武器 "大法师双神器"量化闭环： 1. 日线定生死：双↑↑才做多，否则空仓； 2. 15分钟找买点：小周期共振↑↑+止损入场； 3. 纪律保命：破止损立即撤退，等下次信号！ 一、黑色系与建材板块：政策预期主导波动 1. 焦煤/焦炭 核心逻辑：前期因"反内卷"政策（煤矿超产整改）推动焦煤单周暴涨35%，但本周一焦煤跌停（-11%），焦炭跌停（-8%），反映多头情绪退潮。 关键驱动： 政策博弈：中央政治局会议（本周召开）若未超预期强化"反内卷"，价格或回归产业逻辑；若政策加码，可能重启上涨。 基本面变化：煤矿复产加速 ...

Group 1: AI Integration in Finance - Huatai Securities is exploring the deep integration of AI with business scenarios to promote digital transformation in finance [1] - The company has developed the "Taiwei" large model platform, which combines heterogeneous computing power, large model operation management, and application development [1] - The focus is on enhancing intelligent customer service capabilities in investment research and banking [1] Group 2: Evolution of AI Paradigms - The development paradigm of AI is shifting from self-supervised pre-training to reinforcement learning post-training due to data growth bottlenecks [3] - In quantitative investment, the transition from traditional manual modeling to AI modeling is significantly improving the efficiency of financial model development and deployment [3] - End-to-end modeling and general base pre-trained models are creating opportunities for quantitative investment by reducing reliance on traditional factors and allowing for low-cost cross-market strategy migration [3] Group 3: AI Agents Reshaping Financial Services - The AI empowerment model is evolving from "human + intelligent assistant" to "human + multiple intelligent agents," enhancing team collaboration [5] - AI can significantly replace current employee tasks in certain scenarios, such as automated investment advisory services [5] - Successful implementation of AI in financial institutions relies on effective data governance and open collaboration between financial institutions and technology service providers [5][6] Group 4: Future of AI in Hardware - AI servers are expected to replace smartphones as the largest category of technology hardware, driven by the growth of AI applications [11] - The development of AI agents requires higher demands for computing power and infrastructure, with current limitations in power grid infrastructure and data center land availability [11] - The physical AI development has not met expectations due to the complexity and high cost of data acquisition in the physical world [11]