Core Viewpoint - The company, Guangzhou Lushan New Materials Co., Ltd., is participating in the establishment of an industrial investment fund, contributing 30 million RMB, which is within the approval authority of the general manager and does not require board or shareholder approval [2][3][16]. Group 1: Investment Overview - The company is investing 30 million RMB to co-establish the Guangzhou Tianze Lushan New Materials Venture Capital Fund with Wanlian Tianze Capital and the Guangzhou Listed Company High-Quality Development Fund [3]. - The investment does not constitute a competitive transaction or a major asset restructuring as defined by relevant regulations [2][3]. Group 2: Partner Information - Wanlian Tianze Capital, the general partner, is a limited liability company with a registered capital of 1 billion RMB and has been registered as a private fund manager [4][5][6]. - The limited partner, Guangzhou Listed Company High-Quality Development Fund, also has a registered capital of 1 billion RMB and is managed by Wanlian Tianze Capital [7][8]. Group 3: Fund Details - The fund, named Guangzhou Tianze Lushan New Materials Venture Capital Fund, has a total scale of 100 million RMB and is structured as a limited partnership [10]. - The fund's investment focus is on venture capital for unlisted companies, with a planned duration of 8 years, including 5 years for investment and 3 years for exit [10][13]. Group 4: Investment Purpose and Impact - The investment aims to support the high-quality development of listed companies in Guangzhou and enhance the company's strategic development in the new materials sector [16][17]. - The establishment of the fund is expected to positively influence the company's financial status, operational results, and business layout [17].

此外，包括景顺长城标普消费精选QDII、国泰标普500指数QDII、广发纳斯达克100、招商纳斯达克100、大成纳斯达克100等QDII基金亦发布类似公告。其中，标普 消费精选QDII基金强调，若在2025年11月17日，该QDII基金的二级市场交易价格溢价幅度未能有效回落，基金公司有权采取向深圳证券交易所申请盘中临时停牌、 延长停牌时间等措施以向市场警示风险。 11月17日，多家公募集体发布公告，提示美股QDII产品存在溢价风险。 在美股市场单边逞强背景下，散户和游资纷纷拥抱美股主题QDII，并使此类QDII的二级市场价格与基金净值之间出现大幅溢价。17日，易方达基金、广发基金、景 顺长城基金、大成基金、华夏基金等公司同时发布公告，提示投资者关注二级市场交易价格溢价风险，如果高溢价买入，可能面临较大损失，基金公司也可能通过 申请盘中临时停牌、延长停牌时间等方式，向市场警示风险。 值得一提的是，不仅散户在拥抱美股资产，基金经理也同样如此，近期多个公募QDII基金降低港股市场仓位，同时加大对美股巨头的重仓力度，部分QDII基金甚至 完全清仓港股，并将卖出的港股仓位全部增加到美股市场，短时间内获得丰厚的回报和基金 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 USPACE Technology Group Limited 洲 際 航 天 科 技 集 團 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：1725） 自願性公告 合作框架協議 本公告由洲際航天科技集團有限公司（「本公司」，連同其附屬公司統稱「本集團」） 自願性發出。 合作框架協議 本公司董事（「董事」）會（「董事會」）欣然宣佈，於2025年11月14日，本公司與清遠 市清投私募基金管理有限公司（「合作方」）訂立合作框架協議，內容有關本公司與 合作方就共同發起設立人民幣40億元的產業併購投資基金（「基金」）及相關產業合 作。 訂約方： (i) 洲際航天科技集團有限公司；及 (ii) 清遠市清投私募基金管理有限公司 合作內容 根 據 合 作 框 架 協 議 ， 本 公 司 與 合 作 方 共 同 推 動 發 起 設 立 有 限 合 夥 企 業 形 式 的 基 金，預期基金註冊於中華人民 ...

Market Overview - The A-share market experienced a decline across major indices last week, with the Shanghai Composite Index, CSI 1000, and CSI 300 showing returns of -0.18%, -0.52%, and -1.08% respectively. In contrast, the STAR 50, ChiNext Index, and SME Board Index had poorer performances with returns of -3.85%, -3.01%, and -1.71% respectively [1] - In terms of industry performance, consumer services, textiles and apparel, and pharmaceuticals led with returns of 4.81%, 4.43%, and 3.29% respectively, while communication, electronics, and computers lagged with returns of -4.90%, -4.44%, and -3.72% respectively [1] Fund Flow - The ETF market saw a net inflow of 29.317 billion yuan last week, with stock ETFs contributing 17.352 billion yuan, QDII stock ETFs 5 billion yuan, commodity ETFs 5.957 billion yuan, money market fund ETFs 1.236 billion yuan, and bond ETFs experiencing a net outflow of 0.276 billion yuan [2] - Specific indices that saw significant net inflows include SGE Gold 9999 (5.573 billion yuan), STAR 50 (3.532 billion yuan), and ChiNext AI (2.300 billion yuan) [4] - Conversely, indices such as CSI A500 and CSI 300 experienced notable net outflows of 4.055 billion yuan and 2.640 billion yuan respectively [2][4] ETF Performance - The median weekly return for stock ETFs was -1.09%, with the CSI 50 ETF showing the highest median return of 0.02% among broad-based ETFs. Consumer ETFs had a median return of 2.10%, the highest among sectors [11] - Top-performing ETFs included the Hong Kong Stock Connect Innovative Drug ETF (10.92%), Hang Seng Innovative Drug ETF (10.80%), and Tourism ETF (9.30%) [12][14] - In contrast, ETFs such as 5G Communication ETF and Communication ETF saw declines of -7.03% and -6.89% respectively [16][18] New Fund Activity - A total of 56 funds were reported last week, an increase from the previous week, including one QDII and several thematic ETFs [20] - 25 new funds were established with a total issuance scale of 14.173 billion yuan, which is a decrease compared to the previous week [20] - 41 funds entered the issuance phase last week, with 33 more expected to begin issuance this week [21] Hot News - Several cross-border ETFs have been flagged for premium risks due to significant discrepancies between market trading prices and net asset values [22] - The "Southbound ETF" program expanded on November 10, adding six ETFs to the Hong Kong Stock Connect list, increasing the total number of products from 17 to 23 [23]

Core Insights - The Bloomberg U.S. Aggregate Bond Index has returned approximately 6.7% year-to-date, potentially marking its best annual performance since 2020 [1][2] - Optimism regarding Federal Reserve interest rate cuts has overshadowed concerns about the U.S. fiscal deficit, leading to positive market expectations for U.S. Treasuries [1][2] - Despite the positive outlook, analysts warn of potential threats to the current bond rally, including uncertainties surrounding Fed rate cuts and the impact of government data releases [1][4] Group 1: Market Performance - The Bloomberg U.S. Aggregate Bond Index, which includes U.S. Treasuries, investment-grade corporate bonds, and agency mortgage-backed securities, has shown a return of 6.7% this year, significantly outperforming short-term U.S. Treasuries [2] - The 10-year U.S. Treasury yield recently closed at 4.147%, down nearly 0.5 percentage points, reflecting a decline in yields amid investor concerns about fiscal prospects [2] Group 2: Federal Reserve and Economic Outlook - The Federal Reserve is expected to cut rates by 25 basis points in the upcoming October FOMC meeting, although there are significant internal divisions among officials regarding the direction of monetary policy [3] - The likelihood of a rate cut in December remains uncertain, with current employment and inflation trends showing no significant changes [3] Group 3: Investor Sentiment and Risks - Investors are currently optimistic about locking in higher yields from U.S. Treasuries and corporate bonds, despite the yields being higher than most of the past decade [3] - Concerns persist regarding the U.S. government's budget deficit, projected at $1.8 trillion for fiscal year 2025, which could pressure the bond market [4] - The spread between investment-grade corporate bonds and U.S. Treasuries has narrowed to 0.72 percentage points, the lowest since the late 1990s, raising concerns about potential overvaluation and risk in the corporate bond market [5]

中国经济网北京11月17日讯 近日，财通资管公告，易小金离任财通资管健康产业混合、财通资管 创新医药混合、财通资管医疗保健混合。 易小金2012年加入建信人寿保险有限公司，任资产管理部分析师。2014年6月进入中海基金管理有 限公司工作，历任投研中心分析师、高级分析师、投研中心高级分析师兼基金经理助理、基金经理。 2020年6月加入财通证券资产管理有限公司，现任权益公募投资部基金经理。 财通资管健康产业混合A/C成立于2021年11月23日，截至2025年11月14日，其今年来收益率为 30.77%、30.31%，成立来收益率为14.92%、13.11%，累计净值为1.1492元、1.1311元。 财通资管创新医药混合A/C成立于2024年1月23日，截至2025年11月14日，其今年来收益率为 57.57%、57.02%，成立来收益率为53.93%、52.80%，累计净值为1.5393元、1.5280元。 财通资管医疗保健混合A/C成立于2023年8月3日，截至2025年11月14日，其今年来收益率为 28.95%、28.50%，成立来收益率为14.30%、13.26%，累计净值为1.1430元、1.132 ...

11月17日，索辰科技涨5.09%，截至发稿，报94.58元/股，成交1.12亿元，换手率2.47%，总市值84.28亿 元。 诺安成长混合A（320007）基金经理为刘慧影。 截至发稿，刘慧影累计任职时间3年108天，现任基金资产总规模236.34亿元，任职期间最佳基金回报 67.58%， 任职期间最差基金回报10.31%。 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 资料显示，上海索辰信息科技股份有限公司位于上海市浦东新区五星路676弄27号楼;上海市黄浦区淮海 中路138号中段上海广场办公楼9F，成立日期2006年2月24日，上市日期2023年4月18日，公司主营业务 涉及专注于CAE软件研发、销售和服务的高新技术企业。主营业务收入构成为：天工-仿真产品开发 56.93%，天工-工程仿真软件29.33%，开物-工程仿真软件6.55%，技术服务6.07%，其他0.92%，机加工 0.20%。 从索辰科技十大流通股东角度 数据显示，诺安基金旗下1 ...

投资界消息，近日，《关于湖南省金芙蓉产业引导基金高端装备产业子基金管理机构的公示》发布，根 据湖南省金芙蓉产业引导基金子基金设立运作相关规定，湖南省金芙蓉产业引导基金管理人湖南省财信 产业基金管理有限公司于2025年8月6日发布《湖南省金芙蓉产业引导基金高端装备产业子基金管理机构 遴选公告》，按程序对申报机构进行了评审，对候选机构进行了尽职调查、投资决策，现将拟投资合作 的高端装备产业子基金管理机构有关情况进行公示，高端装备产业子基金管理机构为北京沃衍资本管理 中心（有限合伙）。 来源：财信金控 ...

Group 1 - The core point of the news is that Yongtai Technology's stock price increased by 6.17% to 29.95 CNY per share, with a trading volume of 3.829 billion CNY and a turnover rate of 16.32%, resulting in a total market capitalization of 27.708 billion CNY [1] - Yongtai Technology, established on October 11, 1999, and listed on December 22, 2009, specializes in the research, production, and sales of fluorine fine chemicals, chemical raw materials, and traditional Chinese medicine [1] - The company's main business revenue composition includes lithium battery and other materials at 33.38%, trade at 30.87%, plant protection at 19.50%, and pharmaceuticals at 16.04% [1] Group 2 - Among the top ten circulating shareholders of Yongtai Technology, a fund under Southern Fund holds a position, specifically the Southern CSI 1000 ETF (512100), which reduced its holdings by 59,700 shares in the third quarter, now holding 5.9214 million shares, accounting for 0.73% of circulating shares [2] - The Southern CSI 1000 ETF (512100) was established on September 29, 2016, with a latest scale of 76.63 billion CNY, achieving a year-to-date return of 27.45% and a one-year return of 21.12% [2]

Core Viewpoint - The technology sector has faced pressure due to the Federal Reserve's hawkish stance, inflation uncertainty, and debates surrounding the "AI bubble," leading to a shift in market risk appetite towards low-volatility, high-yield dividend assets, which have shown resilience and become important tools for risk defense [1] Summary by Sections Market Trends - The dividend-themed ETF, specifically the Dividend Low Volatility ETF (512890), has seen significant net inflows since October, attracting a total of 4.564 billion yuan, making it the only product in the dividend-themed ETF category to exceed 4.5 billion yuan in net inflows during this period [1] - In the week from November 10 to November 14, the Dividend Low Volatility ETF (512890) recorded net inflows for four trading days, accumulating 419 million yuan, ranking among the top in its category [1] Fund Performance - The fund's scale reached a new high of 26.603 billion yuan as of November 14, 2025, making it the only dividend-themed ETF in the market with a scale exceeding 20 billion yuan [1] - The dividend yield of the Dividend Low Volatility Index is currently at 3.97%, which is favorable compared to the 10-year government bond yield of 1.81%, indicating a high attractiveness for long-term funds seeking to enhance returns in a low-risk environment [1] Investment Opportunities - Insurance funds have shown a strong preference for bank stocks, which accounted for over half of their holdings by market value at the end of the third quarter, with the number of increased holdings in bank stocks leading among all major stocks [1] - The Dividend Low Volatility ETF (512890) is expected to continue benefiting from the demand for long-term fund allocations, particularly in the context of ongoing uncertainties in the market [1] Company Background - Huatai-PineBridge Fund, one of the first ETF managers in China, has over 18 years of experience in managing dividend-themed index investments, offering a range of products including the first Dividend Low Volatility ETF (512890) and others focused on Hong Kong stocks [1]