相关ETF中，截至上周五（12月26日）收盘，港股科技ETF天弘（159128）成交额近2800万元，恒生科 技ETF天弘（520920）成交额超2300万元。 港股12月24日下午至12月26日休市，12月29日（周一）起将正常开市。在港股休市期间，上证指数持续 走高收获八连阳，多个科技相关板块表现强势。 光大证券表示，2026年，港股市场将在估值修复、盈利增长、主线回归三重驱动下，迎来 "戴维斯双 击"。恒生指数有望重拾升势，恒生科技指数的向上弹性有望超越大盘。科技板块作为汇聚中国新经济 核心资产的领域，有望成为驱动市场反弹的最强主线 。 华泰证券表示，AI投资正成为驱动全球经济增长的核心引擎。我们认为，当前AI投资尚处初级阶段， 算力供给偏紧与"军备竞赛"持续支撑行业投资需求，技术渗透率、资本集中度、产能现状及企业资产负 债表等多维度亦可佐证这一判断。 12月29日，恒生指数开盘涨0.43%，恒生科技指数涨0.88%，国证港股通科技指数张0.67%。优必选涨 超7%，小鹏汽车-W、零跑汽车、比亚迪股份等多个科技股领涨。 港股科技ETF天弘（159128）紧密跟踪港股通科技指数，成分股均属于沪深港通标的， ...

Core Viewpoint - The release of the fifth set of listing standards for commercial rocket companies by the Shanghai Stock Exchange on December 26 accelerates the IPO process for these companies, making the market eager to see which company will become the first commercial rocket stock in A-shares [1] Group 1: IPO Progress - At least five commercial rocket companies are currently advancing their IPO counseling work [1] - Blue Arrow Aerospace Technology Co., Ltd. has submitted its counseling completion report 10 days ago and is awaiting acceptance from the local securities regulatory bureau [1] - Three other commercial rocket companies submitted their counseling filing materials between August and October [1] Group 2: Industry Outlook - Analysts believe that with the clear listing standards for commercial rocket companies on the Sci-Tech Innovation Board, the process for reusable rocket launches and company listings is expected to accelerate [1] - The commercial aerospace industry is anticipated to experience rapid development [1] - Some analysts predict that 2026 will be a pivotal year for commercial aerospace development, with the industry likely to experience a "Davis Double-Click" [1]

Core Viewpoint - The introduction of the fifth set of listing standards for commercial rocket companies by the Shanghai Stock Exchange on December 26 is expected to accelerate the IPO process for these companies, with a focus on which company will become the first commercial rocket IPO in A-shares [1][2]. Group 1: IPO Progress of Commercial Rocket Companies - At least five commercial rocket companies are currently advancing their IPO counseling work, with Blue Arrow Aerospace being the most advanced, having submitted its counseling completion report on December 18 [1][2]. - Other companies, such as China Aerospace Technology Co., Ltd. and Tianbing Aerospace Technology Co., Ltd., have also submitted counseling materials but are at different stages of the process [2][3]. - Star River Power Aerospace Technology Co., Ltd. and Starry Glory Aerospace Technology Group have also initiated their IPO counseling, with varying degrees of progress [3][4]. Group 2: Impact of New Listing Standards - The new listing standards provide a clear path for commercial rocket companies that have not yet formed significant revenue, potentially accelerating innovation and development in the commercial aerospace sector [5][7]. - The standards emphasize the importance of successfully launching payloads with reusable medium to large rockets, which is seen as a critical milestone for validating the commercial viability of these companies [6][7]. - Analysts predict that 2026 will be a pivotal year for the commercial aerospace industry, with expectations of significant growth in satellite bidding, manufacturing, and launches, driven by the new standards and increased competition [7].

从成交额看，上述120只个股中，中际旭创、新易盛、航天电子、中国卫星、紫金矿业本周成交额居前，分别为830.96亿元、689.32亿元、548.58亿元、 543.34亿元、365.16亿元。 从近30个交易日股价创新高次数来看，上述120只个股中，亚翔集成19次创新高，藏格矿业15次创新高，斯瑞新材13次创新高，航天电子12次创新高，西 部材料12次创新高。 总市值方面，上述120只个股中，总市值超千亿元的个股有16只。总市值居前的为紫金矿业、中际旭创、新易盛、洛阳钼业、中国太保，分别为8915.54亿 元、6966.71亿元、4426.32亿元、4225.38亿元、4072.29亿元。 Choice数据显示，本周（12月22日至26日），A股三大指数齐涨，共有120只个股股价创历史新高（不含近一年上市的次新股，按前复权价、涨跌幅复权 算法统计）。按照申万一级行业进行划分，电子、机械设备、有色金属行业创新高的个股较为集中，分别有22只、18只、14只。从上市板块看，主板股票 67只、科创板股票18只、创业板股票33只、北交所股票2只。 从概念板块看，商业航天、大科技、有色金属等概念板块创新高的个股居多。本周 ...

化工板块周五（12月26日）继续猛攻！反映化工板块整体走势的化工ETF（516020）全天强势，截至收 盘，场内价格大涨2.23%，收盘价创2022年9月以来新高。 成份股方面，锂电大面积爆发，氟化工、磷化工等板块部分个股亦涨幅居前。截至收盘，恩捷股份飙涨 9.1%，星源材质、光威复材、多氟多大涨超8%，藏格矿业涨超7%。 | 证券简称 | 应号 证券代码 | 区间涨跌幅 | | | --- | --- | --- | --- | | | | [区间首日] 2025-01-01 | | | | | [区间尾日] 2025-12-26 | | | | | [单位] % | | | :: 1 000813.CSI 细分化工 | | | 40.3522 | | ::: | 2 000001.SH 上证指数 | | 18.2565 | | ::: | 3 000300.SH 沪深300 | | 18.3569 | 注：统计区间为2025年1月1日至2025年12月26日，细分化工指数近5个完整年度的涨跌幅为：2020年， 51.68%；2021年，15.72%；2022年，-26.87%；2023年，-23.17%； ...

化工板块今日（12月26日）午后继续猛攻，反映化工板块整体走势的化工ETF（516020）盘中场内价格 最高涨幅达到2.23%，截至发稿，涨1.88%。 成份股方面，锂电大面积爆发，氟化工等板块部分个股亦涨幅居前。截至发稿，恩捷股份飙涨超9%， 多氟多、星源材质、光威复材大涨超8%，藏格矿业、天赐材料涨超6%。 | | | 分时 多日 1分 5分 15分 30分 · | | | | F9 盘前盘后 登加 九转 西线 工具 (8 0) | | HILETF O | | 516020 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 0.87 | | | | 516020[化工ETF] 14:14 价 0.868 溶颜 0.016(1.88%) 均价 0.864 版交量 61 IOP | | | | 0.868 | | +0.016 +1.88% | | | | | | | | | | SSE CNY 14:14:05 交易中 | | 10 / 0 8 | | | | | | | | | 1.1296 | 净值走势 | ...

Group 1 - The core investment theme for 2026 in A-shares and overseas markets is expected to focus on technology breakthroughs, with global cycles and domestic demand transformation as supplementary factors [10][11][26] - The newly launched Huabao Advantage Industry Fund aims to invest in stocks benefiting from China's economic development and structural transformation, with a stock investment ratio of 60%-95% and a cap of 50% for Hong Kong Stock Connect stocks [3][18] - Fund manager Zheng Yingliang has demonstrated exceptional investment capabilities, with the Huabao Core Advantage Fund achieving a 144.70% return over the past three years, ranking first among 410 similar funds [1][10][19] Group 2 - The investment strategy combines top-down and bottom-up approaches, focusing on industries with good fundamentals and sustainable growth potential [3][18] - Zheng emphasizes the importance of industry lifecycle positioning, aiming to capture rapid growth phases while avoiding industry reshuffling periods [18][26] - The Huabao Core Advantage Fund has successfully leveraged this strategy, heavily investing in leading companies in the optical communication and lithium battery sectors, aligning well with long-term market trends [4][19] Group 3 - The fund's top holdings as of Q3 2025 include companies like Xinyi Technology (9.16%), CATL (9.07%), and Zhongji Xuchuang (8.28%), reflecting a strong focus on communication and new energy sectors [5][20] - The fund has consistently held its top positions for multiple quarters, indicating a stable investment strategy [20][21] - The macroeconomic environment is expected to improve in 2026, with signs of recovery in industrial profits and potential upward pressure on prices, which could lead to a "Davis Double" effect in the domestic market [10][25]

证券ETF龙头（560090）标的指数成分股多数上涨，中银证券涨超5%，兴业证券涨超3%，光大证券、东方财富、东方证券等涨超1%，中信证券、国泰海通 等微涨。 | 【证券ETF龙头（560090）标的指数前十大成分股】 | | --- | | 序号 | 代码 | 名称 | 申万一级行业 | 涨跌幅 | 估算权重 | | --- | --- | --- | --- | --- | --- | | 1 | 300059 | 东方财富 | 非银金融 | 1.20% | 14.23% | | 2 | 600030 | 中信证券 | 非银金融 | 0.21% | 13.68% | | 3 | 601211 | 週夜漫画 | 非银金融 | -0.19% | 11.06% | | 4 | 601688 | 华泰证券 | 非银金融 | 0.38% | 6.50% | | 5 | 600999 | 招商证券 | 非银金融 | 0.06% | 3.07% | | 6 | 000776 | 广发证券 | 非银金融 | 0.68% | 3.02% | | 7 | 600958 | 东方证券 | 非银金融 | 1.11% | 2.64 ...

国金证券指出， 锂电供给确立穿越过剩周期，库存周期结束两年去库阶段，正式转入"主动补库"的繁荣期，基本面呈现2024年触底、2026年 有望明显复苏。其核心逻辑在于，终端需求受AI与储能拉动持续高增，而供给端因资本开支收缩导致扩产放缓，供需错配重现；随着头部企业 稼动率打满，行业由"内卷价格战"转向"联合挺价"，推动价格触底回升，产业链利润分配正向具备高壁垒、高集中度的上游"硬瓶颈"材料环节 转移，最终实现全行业的量利双升。 化工板块今日（12月26日）继续上攻！反映化工板块整体走势的化工ETF（516020）开盘后迅速拉升，盘中场内价格最高涨幅达到1.53%，后 有所回落，截至发稿，涨0.59%。 成份股方面，航空装备、锂电、氟化工等板块部分个股涨幅居前。截至发稿，光威复材飙涨超7%，恩捷股份大涨超4%，多氟多、藏格矿业、 中简科技涨超3%，广东宏大涨超2%。 | | | 多日 1分 5分 15分 30分 | | | | | F9 盘前沿后 春加 九转 圆线 丁具 (2) | | | 1. | | 516020 | | --- | --- | --- | --- | --- | --- | --- | -- ...

Group 1 - The chemical sector continues to rise, with the chemical ETF (516020) opening strong and reaching a maximum intraday increase of 1.53%, closing up 0.59% [1][8] - Key stocks in the sector include Guangwei Composite, which surged over 7%, and Enjie shares, which rose over 4% [1][8] - Other notable performers include Duofluor, Cangge Mining, and Zhongjian Technology, all increasing by over 3% [1][8] Group 2 - According to Guojin Securities, the lithium battery supply has transitioned from a surplus phase to an active replenishment phase, with a recovery expected in 2024 and a significant rebound by 2026 [2][10] - The demand is driven by AI and energy storage, while supply growth is slowing due to reduced capital expenditure, leading to a supply-demand mismatch [2][10] - The industry is shifting from price wars to price stabilization, which is expected to enhance profitability in the upstream materials sector [2][10] Group 3 - The chemical sector currently presents a favorable valuation, with the chemical ETF's underlying index price-to-book ratio at 2.55, positioned at the 48.43 percentile over the past decade [3][10] - The sector is anticipated to experience negative growth in capital expenditure starting in 2024, with supply expected to contract due to the "anti-involution" trend and the clearance of outdated overseas capacity [4][11] - The "14th Five-Year Plan" emphasizes expanding domestic demand, which, combined with the onset of a U.S. interest rate cut cycle, is expected to open up demand for chemical products [4][11] Group 4 - The chemical ETF (516020) tracks the CSI segmented chemical industry theme index, covering various sub-sectors, with nearly 50% of its holdings in large-cap leading stocks [5][12] - Investors can also access the chemical ETF through linked funds (Class A 012537/Class C 012538) for efficient exposure to the sector [5][12]