专题：2025基金半年报：隐形重仓股浮现 锚定基本面成投资共识 今年上半年，随着资本市场改革持续深化，公募基金行业不断强化其市场功能定位，整体服务质量与管 理水平稳步提升。从已披露的2025年半年报来看，业务布局全面、产品多元的头部基金公司业绩增长尤 为强劲，行业分化态势进一步凸显。 具体来看，据工商银行发布的2025年半年报显示，工银瑞信基金2025年上半年实现净利润17.45亿元， 同比增长29.64%。 | 数据来源：公司公告 | | --- | 对比历史数据，工银瑞信2024年中报显示净利润为13.46亿元，2024年年报净利润达到21.10亿元，同比 增长8.65%。从半年度数据看，公司2025年上半年17.45亿元的净利润已显著超过去年同期的13.46亿 元，增幅明显。回顾更早时期，2023年中报公司净利润为12.84亿元，2023年年报为19.42亿元。 | 数据来源：Wind 截止 | | --- | 至20250831 从产品布局来看，公司旗下共管理268只基金，规模合计超过7850亿元。产品线覆盖股票型、混合型、 债券型、货币市场型、QDII、FOF及公募REITs等多种类型，其中固定收益 ...

Market Overview - As of August 29, the total ETF margin balance in the two markets reached 108.7 billion yuan, an increase of 0.96 billion yuan from the previous trading day [1] - The financing balance was 101.25 billion yuan, up by 0.66 billion yuan, while the securities lending balance was 7.45 billion yuan, increasing by 0.30 billion yuan [1] - In the Shanghai market, the ETF margin balance was 74.56 billion yuan, with a financing balance of 68.04 billion yuan and a securities lending balance of 6.52 billion yuan [1] - In the Shenzhen market, the ETF margin balance was 34.14 billion yuan, with a financing balance of 33.21 billion yuan and a securities lending balance of 0.93 billion yuan [1] ETF Margin Balance - The top three ETFs by margin balance on August 29 were: - Huaan Yifu Gold ETF (7.11 billion yuan) - E Fund Gold ETF (6.20 billion yuan) - Huaxia Hang Seng (QDII-ETF) (4.15 billion yuan) [2] - The top ten ETFs by margin balance include: - Huatai-PB CSI 300 ETF (4.10 billion yuan) - Bosera Gold ETF (3.56 billion yuan) - Southern CSI 500 ETF (3.14 billion yuan) - E Fund Hang Seng China Enterprises (QDII-ETF) (3.06 billion yuan) - Southern CSI 1000 ETF (2.89 billion yuan) - Huaxia Shanghai Stock Exchange Science and Technology Innovation Board 50 ETF (2.87 billion yuan) - Guotai CSI All-Index Securities Company ETF (2.71 billion yuan) [2] ETF Financing Buy Amount - The top three ETFs by financing buy amount on August 29 were: - E Fund CSI Hong Kong Securities Investment Theme ETF (2.05 billion yuan) - Haifutong CSI Short-term Bond ETF (1.91 billion yuan) - Bosera CSI Convertible Bonds and Exchangeable Bonds ETF (1.42 billion yuan) [3] - The top ten ETFs by financing buy amount include: - Huatai-PB Southern Dongying Hang Seng Technology Index (QDII-ETF) (1.34 billion yuan) - E Fund ChiNext ETF (1.24 billion yuan) - Huaxia Shanghai Stock Exchange Science and Technology Innovation Board 50 ETF (1.19 billion yuan) [4] ETF Financing Net Buy Amount - The top three ETFs by financing net buy amount on August 29 were: - E Fund ChiNext ETF (137 million yuan) - Fuguo Medium and Long-term Policy Financial Bond ETF (114 million yuan) - Huaxia Shanghai Stock Exchange Science and Technology Innovation Board 50 ETF (84.54 million yuan) [5] - The top ten ETFs by financing net buy amount include: - Guangfa CSI Hong Kong Innovative Medicine (QDII-ETF) (83.21 million yuan) - Guangfa National Standard New Energy Vehicle Battery ETF (82.45 million yuan) [6] ETF Securities Lending Sell Amount - The top three ETFs by securities lending sell amount on August 29 were: - Southern CSI 500 ETF (179 million yuan) - Southern CSI 1000 ETF (108 million yuan) - Huatai-PB CSI 300 ETF (40.38 million yuan) [7] - The top ten ETFs by securities lending sell amount include: - Huaxia CSI 1000 ETF (33.44 million yuan) - Huaxia Shanghai Stock Exchange 50 ETF (16.84 million yuan) [8]

Group 1: Fund Performance - A total of 63 fund companies have reported their operating income and net profit for the first half of 2025, with 5 companies exceeding a net profit of 1 billion yuan, all achieving growth in both revenue and profit [1] - E Fund leads with a net profit of 1.877 billion yuan, while Southern Fund and GF Fund reported net profits of 1.194 billion yuan and 1.180 billion yuan, respectively, surpassing Huaxia Fund [1] - 33 fund companies reported net profits below 100 million yuan, with 2 companies doubling their profits and 6 companies reducing their losses [1] Group 2: Stock Market Performance - In the first half of 2025, 5,432 listed companies achieved a total operating income of 35.01 trillion yuan, a year-on-year increase of 0.16% [2] - The net profit for these companies reached 3 trillion yuan, reflecting a year-on-year growth of 2.54%, with nearly 60% of companies reporting revenue growth [2] - Among the listed companies, 1,943 reported both revenue and net profit growth [2] Group 3: Dividend Distribution - In the first half of 2025, 408 companies listed on the Shanghai Stock Exchange announced mid-term dividends, with total cash dividends amounting to 555.2 billion yuan, a year-on-year increase of 12% [3] - The operating income for these companies was 24.68 trillion yuan, showing a slight decline of 1.3% year-on-year, while net profit increased by 1.1% [3] - The cash flow from operating activities for these companies reached 1.11 trillion yuan, a year-on-year increase of 32% [3] Group 4: AI Industry Growth - The rise of AI has significantly boosted demand, leading to strong performance among companies in the A-share industry chain, particularly in computing power, PCB, and optical module sectors [4] - Of the 157 AI and AI+ concept companies that reported their half-year results, over 70% achieved profitability, with 14 companies seeing net profit growth exceeding 100% [4] Group 5: Wealth Management Performance - Among the wealth management subsidiaries of the six major state-owned banks, 5 reported both product management scale and net profit growth in the first half of 2025, with some exceeding 20% growth in both metrics [5] - The total management scale of these subsidiaries reached 97.76 trillion yuan, a year-on-year increase of 6.35% [5] - The combined net profit for these subsidiaries was 5.781 billion yuan, reflecting a year-on-year growth of 7.17% [5]

Group 1 - The core point of the news is that the Southern Science and Technology Chip ETF (588890) has seen significant net buying activity, indicating a positive investor sentiment towards the fund [1][3]. - On August 29, 2025, the financing net purchase amounted to 4.5618 million yuan, with a financing balance of 29.5 million yuan, reflecting an increase of 18.29% from the previous day [3][4]. - Over the past three trading days, the cumulative net buying reached 8.9218 million yuan, with 13 out of the last 20 trading days showing net buying activity [1][2]. Group 2 - The financing balance on August 29, 2025, was 29.5 million yuan, which is an increase of 4.5618 million yuan compared to the previous day [4]. - The financing net purchases for the previous days were 2.3133 million yuan on August 28 and 2.0467 million yuan on August 27, indicating a consistent trend of net buying [2][4]. - The financing balance has shown fluctuations, with a notable drop of 7.5860 million yuan on August 26, followed by a significant increase of 21.0381 million yuan on August 25 [4].

证券之星消息，8月29日，红利国企ETF（510720）融资买入1540.09万元，融资偿还1075.54万元，融资 净买入464.55万元，融资余额4721.1万元，近3个交易日已连续净买入累计2173.6万元，近20个交易日中 有13个交易日出现融资净买入。 小知识 融资融券：目前，个人投资者参与融资融券主要需要具备2个条件：1、从事证券交易至少6个月；2、账 户资产满足前20个交易日日均资产50万。融资融券标的：上交所将主板标的股票数量由现有的800只扩 大到1000只，深交所将注册制股票以外的标的股票数量由现有的800只扩大到1200只。 融券方面，当日无融券交易。 融资融券余额4721.1万元，较昨日上涨10.91%。 | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-08-29 | 4721.10万 | 464.55万 | 10.91% | | 2025-08-28 | 4256.55万 | 145.25万 | 3.53% | | 2025-08-27 | 4111.30万 | 1563.80万 | 61.39% ...

Group 1 - The core viewpoint of the news is that Beijing Xinan Century Technology Co., Ltd. has seen a significant stock price increase of 6.05%, reaching 15.60 CNY per share, with a total market capitalization of 4.948 billion CNY [1] - The company specializes in information security solutions based on cryptographic technology, addressing identity security, communication security, and data security issues in network environments. Its main business revenue composition is 76.97% from information security products and 23.03% from services [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under Shangyin Fund holds a significant position in Xinan Century, with 83,000 shares, accounting for 2.17% of the fund's net value, ranking as the seventh largest heavy stock [2] - The Shangyin Technology Driven Biweekly Redeemable Mixed A Fund (011277) has achieved a return of 39.1% this year, ranking 1369 out of 8254 in its category, and a return of 69.69% over the past year, ranking 1279 out of 8037 [2] Group 3 - The fund manager of Shangyin Technology Driven Biweekly Redeemable Mixed A Fund is Zhai Yunfei, who has a cumulative tenure of 9 years and 213 days, with the fund's total asset size at 126 million CNY [3] - During Zhai Yunfei's tenure, the best fund return was 48.6%, while the worst return was -12.79% [3]

责任编辑：小浪快报 南方中证2000ETF（159531）成立日期2023年9月7日，最新规模5.39亿。今年以来收益33.4%，同类排 名1090/4222；近一年收益81.7%，同类排名758/3779；成立以来收益34.37%。 南方中证2000ETF（159531）基金经理为李佳亮。 截至发稿，李佳亮累计任职时间9年30天，现任基金资产总规模53.28亿元，任职期间最佳基金回报 144.86%， 任职期间最差基金回报-29.58%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 9月1日，恒宝股份涨5.42%，截至发稿，报27.63元/股，成交9.55亿元，换手率5.88%，总市值195.71亿 元。 资料显示，恒宝股份有限公司位于江苏省丹阳市横塘工业区，成立日期1996年9月24日，上市日期2007 年1月10日，公司主营业务涉及磁条卡、密码卡等卡类产品及其相关操作系统(COS)和票证产品的研 发、生产和销售。主营业务收入构成为：制卡类78.19%，模块类21 ...

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。 | 分级基金筒称 | 代码 | 基准日基金净值 | | 分红方案 | | --- | --- | --- | --- | --- | | | | (元) | | (元/10份) | | 嘉实主益纯债定期债券A 000116 | | | 1.02 | 0.06 | | 嘉实丰益纯债定期债券C 022240 | | | 1.01 | 0.05 | 证券之星消息，9月1日发布《嘉实丰益纯债定期开放债券型证券投资基金2025年第四次收益分配公 告》。本次分红为2025年的第四次分红。公告显示，本次分红的收益分配基准日为8月8日，详细分红方 案如下： 本次分红对象为权益登记日在本公司登记在册的本基金份额持有人，权益登记日为9月3日，现金红利发 放日为9月4日。投资者选择红利再投资方式的，现金红利转换为基金份额的基金份额净值基准日为2025 年9月3日，基金份额登记过户日为2025年9月4日。红利再投资的基金份额可赎回起始日为本基金的下一 个开放日。根据国家相关规定，基金向投资者分配的基金收益，暂 ...

从操作轨迹来看，中央汇金整体持仓稳健，而其全资控股的中央汇金资产管理有限责任公司（下称"中央汇金资产"）则大举进攻，强势 增持宽基、中小盘及科创类ETF，中国国新则侧重于央企主题产品。万亿级持仓背后，华泰柏瑞、易方达等头部沪深300ETF成绝对主 力。 此外，"国家队"资产配置更通过资管计划延伸至医药、芯片、白酒等行业赛道。同时，险资等长线资金积极布局、以及外资持续增配， 多路资金合力"添柴"及市场赚钱效应带动的净值提升下，ETF市场仅用4个月就突破第五个万亿元关口。这波之后，哪些板块将成为下一 轮增量来源？ 半年豪买近660亿份基金，一张宽基打底、主题加码的"作战图"来到了明牌时刻。 今年上半年A股市场大幅波动中，"国家队"资金再次彰显定力和影响力。随着公募基金中报的披露，中央汇金投资有限责任公司（下 称"中央汇金"）、中国国新控股有限责任公司（下称"中国国新"）等重要机构的调仓路径清晰浮现。截至6月底，受益于份额增加与净 值提升，三家"国家队"合计持有26只ETF，总市值达1.28万亿元，年内增幅超两成。 第一财经记者梳理发现，中央汇金资产共加仓了12只基金产品，其中华泰柏瑞沪深300ETF被加仓最多，达 ...

Group 1: Brokerage Firms - Proprietary trading has become the core driver of performance for brokerage firms, with 42 listed brokerages reporting a total proprietary income of 112.35 billion yuan in the first half of 2025, reflecting a significant year-on-year increase of 53.53% [1] - The proprietary income accounted for 44.61% of total operating revenue, indicating enhanced active management capabilities among brokerages, which may lead to increased profitability stability for large firms while smaller firms may face differentiation [1] - The strong performance in proprietary trading is expected to boost valuations in the financial sector and signal improved market activity, injecting positive momentum into the overall stock market [1] Group 2: Investment Banking - China International Capital Corporation (CICC) appointed Wang Shuguang, a 50-year-old veteran in the investment banking sector, as the new president, effective immediately following board approval [2] - Wang has 27 years of experience within CICC, having held various senior positions, which is anticipated to bring strategic continuity and strengthen CICC's competitive advantage in the investment banking field [2] - This leadership change is likely to enhance investor confidence in financial stocks and may lead to a reassessment of the long-term value of leading brokerages [2] Group 3: Public Funds - Public funds reported impressive performance in the first half of 2025, with total investment income exceeding 636.17 billion yuan, primarily driven by equity funds, which contributed over 330 billion yuan [3] - The overall positive returns across various fund types reflect a recovery in market risk appetite, which is expected to attract more capital into the market, positively impacting brokerage and asset management sectors [3] - A total of 24 public fund institutions reported a combined net profit of nearly 9.2 billion yuan, with over 70% achieving year-on-year growth, indicating a favorable market environment and the effectiveness of industry innovation [4]