12月24日，三角防务涨5.04%，截至发稿，报29.62元/股，成交6.77亿元，换手率4.38%，总市值162.18 亿元。 资料显示，西安三角防务股份有限公司位于陕西省西安市航空基地蓝天二路8号，成立日期2002年8月5 日，上市日期2019年5月21日，公司主营业务涉及航空、航天、船舶、有色金属等行业锻件产品的研 制、生产和服务。主营业务收入构成为：模锻件产品95.17%，自由锻件产品2.85%，其他1.98%。 从三角防务十大流通股东角度 截至发稿，艾小军累计任职时间11年349天，现任基金资产总规模1690.29亿元，任职期间最佳基金回报 282.64%， 任职期间最差基金回报-46.54%。 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。 责任编辑：小浪快报 数据显示，国泰基金旗下1只基金位居三角防务十大流通股东。国泰中证军工ETF（512660）三季度减 持74.58万股，持有股数373.65万股，占流通股的比例为0.7%。根据测算，今日浮盈赚取约530. ...

12月24日早盘，军工板块持续上攻，行业涨幅高居31个申万一级全行业首位，主力资金大举涌入，截至发稿净买入逾101亿元，居全行业第二 位。 数据来源：沪深交易所等。 | 代码 | 名称 | Allike | 涨跌幅▼ | 主力净流入额 | | --- | --- | --- | --- | --- | | 801740 | 国防军工(申万) | 1841.27 | 2.43% | 101.03亿 | | 801970 | 环保(申万) | 1972.25 | 1.36% | 6.29亿 | | 801080 | 电子(申万) | 6527.95 | 1.12% | 107.95亿 | | 801890 | 机械设备(申万) | 2077.35 | 1.11% | 48.71 亿 | 风险提示：军工ETF华宝被动跟踪中证军工指数，该指数基日为2004.12.31，发布于2013.12.26。文中提及个股仅为指数成份股客观展示列举， 不作为任何个股推荐，不代表基金管理人和基金投资方向。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，投资人须对任何自主决定的投 ...

Group 1: Market Trends and Investor Behavior - The market style tends to exhibit defensive characteristics at the end of the year, with large-cap value stocks outperforming, while the small-cap style represented by the CSI 1000 faces pressure [1] - Institutional investors are likely to adopt a conservative investment approach due to year-end performance assessments, leading to a decrease in risk appetite [1] - As the market enters the dense disclosure period for annual earnings forecasts in January, earnings uncertainty becomes a key concern, prompting funds to flow towards more stable large-cap blue-chip stocks [1] Group 2: Monetary Policy and Market Liquidity - The central bank's net injection in the open market was 219 billion yuan last week, with upcoming maturities including 4.575 billion yuan in reverse repos and 3 billion yuan in MLF [2] - Money market rates are declining, with short and long-term government bond yields also decreasing, while the issuance scale of interbank certificates of deposit has expanded [2] - The net inflow of funds in the secondary market has increased, with a rise in financing balances and net purchases of financing funds amounting to 3.42 billion yuan [2] Group 3: Sector Preferences and Fund Flows - High net inflows were observed in the electronics, communications, and power equipment sectors, with significant net subscriptions for the A500 ETF [3] - The information technology ETF saw substantial net subscriptions, while the military industry ETF experienced notable redemptions [3] - The highest net subscription was for the Huatai-PB CSI A500 ETF, while the highest net redemption was for the Fuguo CSI Military Leaders ETF [3] Group 4: Overseas Economic Indicators - In the U.S., the November non-farm payroll and CPI significantly fell below expectations, with the overall CPI rising 2.74% year-on-year, lower than the expected 3.06% [3] - The core CPI also rose 2.63% year-on-year, below the consensus expectation of 3.03%, indicating inflation is nearing the Federal Reserve's target level [3] - The unemployment rate in the U.S. rose to 4.6% in November, the highest level since October 2021 [3]

Core Insights - The article provides an overview of the latest net asset value (NAV) rankings of open-end funds, highlighting the top and bottom performers in terms of growth [2][4]. Fund Performance Summary Top 10 Funds by NAV Growth - The top-performing funds include: 1. Guotou Ruijin Industrial Upgrade Two-Year Holding Mixed Fund C with a NAV of 1.0207, up by 4.15% 2. Guotou Ruijin Industrial Upgrade Two-Year Holding Mixed Fund A with a NAV of 1.0438, also up by 4.15% 3. Shenwan Hongyuan New Energy Vehicle Theme Flexible Allocation Mixed Fund A with a NAV of 2.3820, up by 4.02% 4. Shenwan Hongyuan New Energy Vehicle Theme Flexible Allocation Mixed Fund C with a NAV of 2.3720, up by 3.99% 5. Guotou Ruijin New Energy Mixed Fund C with a NAV of 2.2261, up by 3.98% 6. Guotou Ruijin New Energy Mixed Fund A with a NAV of 2.2810, also up by 3.98% 7. Huaxia New Materials Leading Mixed Fund A with a NAV of 0.8987, up by 3.85% 8. Huaxia New Materials Leading Mixed Fund C with a NAV of 0.8833, up by 3.84% 9. Guotou Ruijin Industrial Trend Mixed Fund A with a NAV of 0.9806, up by 3.84% 10. Guotou Ruijin Industrial Trend Mixed Fund C with a NAV of 0.9630, up by 3.84% [2][4]. Bottom 10 Funds by NAV Decline - The underperforming funds include: 1. Yongying High-end Equipment Smart Selection Mixed Fund C with a NAV of 1.1221, down by 4.64% 2. Yongying High-end Equipment Smart Selection Mixed Fund A with a NAV of 1.1376, also down by 4.64% 3. Huian Value Blue Chip Mixed Fund C with a NAV of 0.6992, down by 4.00% 4. Huian Value Blue Chip Mixed Fund A with a NAV of 0.7181, down by 3.98% 5. Great Wall Jiujia Innovation Growth Mixed Fund C with a NAV of 2.2055, down by 3.37% 6. Great Wall Jiujia Innovation Growth Mixed Fund A with a NAV of 2.6361, down by 3.37% 7. Ping An CSI Satellite Industry Index Fund A with a NAV of 1.1186, down by 3.24% 8. Ping An CSI Satellite Industry Index Fund C with a NAV of 1.1179, down by 3.24% 9. Southern CSI General Aviation Theme ETF Fund C with a NAV of 1.0429, down by 3.13% 10. Southern CSI General Aviation Theme ETF Fund A with a NAV of 1.0433, down by 3.12% [3][4]. Market Overview - The Shanghai Composite Index experienced a slight increase after a dip, closing with a trading volume of 1.92 trillion yuan. The number of advancing stocks was 1,512, while declining stocks numbered 3,856, with a limit-up to limit-down ratio of 68 to 15. Leading sectors included building materials and oil, while the hotel, restaurant, tourism, and aviation sectors saw declines exceeding 2% [6].

Group 1 - The article highlights significant announcements in the stock market, including "suspensions and resumption of trading, share buybacks, investment wins, acquisitions, earnings reports, unlocks, and high transfers" to help investors identify potential investment hotspots and mitigate risks [1] - A company is involved in the fields of chip technology, 6G, commercial aerospace, and has products applicable to low-orbit satellite communication substrates and aircraft engines [1] - Another company has signed an agreement with a Chinese rocket company to implement an expansion plan for the Hainan commercial aerospace launch site [1] - A company plans to establish a production capacity of 1.2 million units for humanoid robots and solid-state batteries by 2026 [1]

公告显示，公司已与科凯电子实际控制人王建绘、王建纲等补偿方签署补充协议，取消原90%的业绩补 偿触发比例，改为当科凯电子2026年、2027年实际净利润低于当年承诺净利润时，补偿方即触发补偿义 务。补偿方优先以本次交易中取得的上市公司股份补偿，不足部分以现金补足，累计补偿金额不超过其 取得的总对价9.07亿元，占交易总对价的69.07%。 补偿方承诺，科凯电子2025年至2028年累计承诺净利润不低于5.16亿元，略高于收益法评估预测的5.14 亿元。作为核心补偿措施，补偿方还承诺对科凯电子2028年末应收账款余额的80%回收率进行兜底，未 达部分将承担垫付义务。 评估方法与商誉风险 广州思林杰科技股份有限公司（以下简称"思林杰"）近日发布公告，就发行股份及支付现金购买青岛科 凯电子研究所股份有限公司（以下简称"科凯电子"）71%股权并募集配套资金事项，对上海证券交易所 问询函相关问题进行回复。公告披露了交易方案调整、业绩补偿机制优化、标的资产估值合理性及商誉 风险等关键信息。 交易方案与支付安排 根据公告，本次交易总对价为13.14亿元，其中以股份支付5.91亿元，向标的公司实际控制人支付现金9 亿元。现金 ...

新的一年里，大盘将有怎样的走势？ 本周日（12月28日）上午10时至12时，资深金融行业投资顾问王明坤先生将围绕上述核心问题，开展一 场"2026年春季展望"为主题的市场分析，邀您参加！ 接下来一段时间，大盘是否延续牛市？有望涨到多少？ 哪些板块有值得布局的投资机会？ 这是第一个维度的内容，王明坤将就目前市场阶段进行分析讨论，他认为本轮牛市不同于2007年和2015 年，市场走得非常平稳，而市场各类主力都是"明牌"状态。 通过解析去年9月以来的行情走势，王明坤明确了2026年市场行情的"春季目标"。 （来源：齐鲁资本通） 2025年即将过去，新的一年里机遇正在等待发掘！ 王明坤从事证券行业投资领域12年，是青岛西海岸新区投资交流圈负责人、卖方机构对接人、宏观分析 师、内训金牌讲师，此番市场分析，他将从4个不同维度展开。 第二维度的探讨非常关键，即可能面临的风险，包括国际形势、政策调配、经济发展趋势等。 第三个维度是，在结构性牛市中，投资者要重视的投资方向与配置。 从热门板块的角度看，半导体、军工、AI、人形机器人、消费、医药等热门板块接下来有怎样的投资 机会？ 换个角度思考，若大盘指数不断上行，券商、有色、半 ...

后续还有机会吗？分析人士指出，市场整体还是以震荡结构看待为宜，当前商业航天或仍处于密集催化 期，或可重点关注其所在的军工板块回调整理过程中的低吸机会。东方证券、中信建投、华泰证券等多 家机构最新策略均提及军工板块机遇。 东方证券认为，军工行业已企稳向好，"十五五"军民贸有望共振。经历了2023~2024年的行业需求不 振，2025年军工行业企稳有所复苏，产业链营收重回增长，内部结构出现分化的趋势有望延续。2026年 是新五年规划的开局年，有望实现军民贸需求共振。 【八一军工，大展宏图】代码有"八一"的军工ETF华宝（512810）（原国防军工ETF）覆盖"商业航天 + 可控核聚变 + 低空经济 + 大飞机 + 深海科技 + 军用AI "等诸多热门主题，同时是融资融券+互联互通标 的，是一键投资军工核心资产的高效工具。 数据来源：沪深交易所等。 连涨四日后，军工板块今日（12月23日）迎来回调，场内高人气军工ETF华宝（512810）收跌1.37%止 步四连阳，全天成交6396万元。昨日该ETF场内价格刚创下9月4日以来新高。 军工ETF华宝（512810）覆盖海陆空天核心军工资产，80只成份股65跌2平13涨 ...

截至2025年12月23日 10:12，A500ETF南方(159352)上涨0.16%， 冲击3连涨。盘中换手6.45%，成交 25.35亿元。跟踪指数中证A500指数上涨0.09%，成分股高德红外上涨6.91%，厦门钨业上涨6.14%，太 极实业上涨5.92%，北京君正上涨5.43%，鹏辉能源上涨5.16%。 值得一提的是，A500ETF南方(159352)昨日（12月22日）成交再度实现巨幅放量，单日成交额达105亿 元。从资金净流入方面来看，A500ETF南方(159352)近14天获得连续资金净流入。 信达证券分析指出，战术上，牛市的基础依然坚实，年度上存在盈利改善和资金流入共振的可能性。战 略上，考虑到当前A股估值不低，强力稳增长预期下降，外围市场不确定性风险仍存，短期市场或处于 跨年行情启动前的调整期。2026年春节前大概率仍有春季躁动行情，时间上关注经济数据、流动性或产 业催化出现积极变化的信号。我们认为当期支撑流动性牛市的基础依然坚实。 A500ETF南方(159352)紧密跟踪的中证A500指数覆盖A股大中盘优质蓝筹企业，均衡分布于新兴制造、 消费升级等核心领域，重点布局先进生产力。 中证 ...

Group 1 - The core point of the article is the announcement by President Trump regarding the approval of the construction of two new naval ships, with plans to eventually increase the fleet to 20-25 ships equipped with advanced weaponry [3] - The new ships will feature hypersonic weapons, laser weapons, and will carry sea-based nuclear cruise missiles currently under development [3] - Additionally, the U.S. is in the process of constructing three large aircraft carriers, indicating a significant expansion of military capabilities [3] Group 2 - Trump mentioned that he will meet with U.S. defense contractors next week to discuss the need for new factories to support the shipbuilding initiative [3] - The construction of the new warships will utilize American steel, emphasizing a focus on domestic manufacturing [3]