自从我们8月底介入机器人板块以来，就一直在思考近期投资的范式是什么？ 在资金较为充裕的情形下，各个板块要"争夺资金话语权"，需要用"确定性"来吸引市场 易中胜富 就是 英伟达链 的Tier 1，也就是确定性 或者 稀缺性 【笔者按】 易中胜富 在7、8和9月初过分的耀眼，也强化了我们一直认为的"风格转换" 进入9月，在国内芯片制造先进制成突破，光刻机技术突破，阿里等大CSP自研突破的背景下，国产算力一路走高，而我也第一时间意识到预期纠结选择标 的，不如一键打包选择芯片制造产业链的上中下游~。 结果确实买在国产科创芯片的起爆点！至今浮盈39% 节前最后交易日华虹和佰维成了最靓的仔~ | 代码 名称 | 涨幅 | | --- | --- | | 688347 华虹公司 | +15.16% | | 688525 佰维存储 | 重研公社:回桃列名称 | 但其实也说明了，除了村龙，其他标的都以轮动的形式走强，哪怕寒武纪，海光信息，在GPU界的地位，都没法跟易中胜富四大天王相比。 除了菊厂占23%（甚至25年后还会扩大）外，其他包括寒武纪只有1%~3%的份额，而随着摩尔、沐曦、燧元等等上市GPU越来越多，寒武纪《原本稀缺 ...

Market Overview - The Shanghai Composite Index increased by 75.18 points, or 2.11%, reaching a closing price of 3635.13, with a high of 3645.37 and a low of 3547.16, indicating a volatility of 2.76% and a total trading volume of 3.47 trillion yuan [1] - The ChiNext Index rose by 11.33 points, or 0.49%, closing at 2333.96, with a high of 2372.68 and a low of 2304.48, showing a volatility of 2.94% and a total trading volume of 2.50 trillion yuan [1] Private Equity and Fund Management - In July, 676 private equity firms registered 1298 products, marking an 18% month-on-month increase and the highest number in nearly 27 months [3] - Among the newly registered products, 13 firms launched more than 10 products each, with 11 of the 44 billion-yuan quantitative private equity firms adding a total of 286 new funds [3] - The average return of quantitative private equity products reached 28.54% by the end of July 2025, outperforming the average return of subjective long-only products [3] Financing Trends - The financing heat in small-cap stocks is significantly higher than in large-cap stocks, with the overall financing transaction volume in the A-share market accounting for 21.9% of total trading volume [4] - The financing balance as a percentage of free float market value shows similar trends, with the CSI 1000 and CSI 2000 indices exceeding their 2015 peaks [4]