AI基金浙商汇金红利精选混合型发起式A（021859）披露2025年二季报，第二季度基金利润25.62万元，加权平均基金份额本期利润0.0197元。报告期内，基 金净值增长率为1.96%，截至二季度末，基金规模为1283.1万元。 该基金属于偏股混合型基金。截至7月18日，单位净值为1.043元。基金经理是周文超，目前管理7只基金。其中，截至7月18日，浙商之江凤凰ETF近一年复 权单位净值增长率最高，达24.37%；浙商汇金转型升级A最低，为3.57%。 基金管理人在二季报中表示，整体而言，世界经济和资本市场仍然处在高度不确定性中，预计三季度市场波动率将继续加大。展望后市，外部冲击的不确定 性依然存在，并且市场整体又处在过去一年的相对高位，因此我们倾向于适当降低组合弹性，兑现一部分短期超额收益，转而增加低位布局。并且，我们认 为保有一定比例的现金也很有必要，当黑天鹅事件冲击市场的时候，我们恰恰能以更便宜的价格买到更多称心如意的公司份额。 截至7月18日，浙商汇金红利精选混合型发起式A近三个月复权单位净值增长率为4.19%，位于同类可比基金573/615；近半年复权单位净值增长率为5.38%， 位于同类可比基 ...

韩国股民抢筹中国股票。 此外，截至7月18日， 韩国股民持股市值排名前10的港股为小米集团-W、腾讯控股、阿里巴巴-W、中芯国际、宁德时代、泡泡玛特、比亚迪 股份、天齐锂业、赣锋锂业、GLOBAL。 来自韩国证券存托结算院（KSD）旗下SEIBro的数据显示，以成交额计，今年以来截至7月17日，韩国股民对中国股票（包含中国内地股票和 中国香港股票）的累计成交额约55.14亿美元，仅次于对美国股票的成交额3224.41亿美元。 以累计成交额计，中国在韩国股民最热衷的海外市 场中排名第二，超越日本和欧盟。 小米集团-W位居韩国股民持股市值榜首 韩国股民对港股的热情高涨。 来自SEIBro的数据显示，截至2025年7月18日， 过去一年，韩国股民净买入金额排名前10的港股分别为小米集团-W、比亚迪股份、宁德时 代、阿里巴巴-W、老铺黄金、泡泡玛特、百济神州、三花智控、Global X 恒生科技ETF、优必选。 其间，韩国股民净买入小米集团-W的金额为1.60亿美元，净买入比亚迪股份的金额为6243.77万美元，净买入宁德时代的金额为6085.39万美 元，净买入阿里巴巴的金额为 5769.15万美元， 净买入老铺黄 ...

2025年，这些影响将主要体现在投资领域，而出口方面则会相对较少，随着美 国加大将制造业和生产活动"回流"国内的力度，东南亚地区吸引外资将面临日 益激烈的竞争。外国直接投资可能会越来越多地从东南亚转向其他地区，使该 地区争夺剩余资金的竞争加剧。认为马来西亚7.5%的GDP来自对美出口，而总 出口额占经济总量超过75%，使马来西亚在面对高达25%的美国关税时处于不 利地位，马来西亚电气设备行业等关键出口产业极易受到冲击。预计马来西亚 2025年的GDP增长可能将跌破4%，而若关税持续存在，2026年经济增速甚至 可能进一步大幅下降。 关于美国方面，亨德森表示，作为全球最大的经济体，美国自身也难以避免影 响。高关税将推高生产成本、削弱国内需求，进而抑制GDP增长。此外，高关 税还可能限制美联储在短期内降息的能力，导致宏观政策环境更为复杂和严 峻。 （原标题：美国关税政策可能影响东盟五国GDP增长） 《越通社》7月18日转载《马来西亚国家新闻社》（Bernama）报道，东南 亚地区经济学家塔玛拉·马斯特·亨德森博士（Tamara Mast Henderson）在马来 西亚CIMB证券公司7月17日发布的报告中指出， ...

Group 1 - The company is established as a joint-stock limited company in accordance with the Company Law and other relevant regulations [2][3] - The company was approved by the China Securities Regulatory Commission to issue 40.01 million shares of RMB ordinary stock and was listed on the Shanghai Stock Exchange on July 20, 2021 [3] - The registered capital of the company is RMB 4,102.8224 million [3] Group 2 - The company's business purpose is to create greater returns for shareholders while providing first-class products, services, and solutions to customers [4] - The company aims for sustainable development and satisfactory economic and social benefits [4][5] Group 3 - The company’s shares are issued in the form of stocks, with each share having equal rights [8] - The total number of shares is 410.28224 million, all of which are registered ordinary shares with a par value of RMB 1 [8][19] Group 4 - The company can increase capital through various methods, including public issuance and private placement, as decided by the shareholders' meeting [22] - The company can also reduce registered capital under specific circumstances as per the Company Law and this charter [23] Group 5 - The shareholders have rights to dividends and other benefits proportional to their shareholding [33] - Shareholders can request, convene, and participate in shareholders' meetings and exercise corresponding voting rights [33][34] Group 6 - The shareholders' meeting is the company's authority, responsible for deciding the company's operational policies and investment plans [43] - The annual shareholders' meeting must be held every year, while temporary meetings can be called under certain conditions [48][49]

Core Insights - The third China International Supply Chain Promotion Expo (Chain Expo) is being held in Beijing, showcasing unique advantages of various industry chains and enhancing collaboration and communication across supply chains [1] - Leading enterprises in the supply chain are playing a pivotal role in guiding the exhibition, demonstrating their resource integration capabilities and technological advancements [2][3] Group 1: Industry Trends - The integration of supply chains with technological innovation and ecological collaboration is emphasized, with expectations for local innovation technologies to be accelerated through the expo [1] - The digital transformation of global supply chains is an unstoppable trend, with emerging technologies like AI, IoT, and blockchain being widely applied to enhance efficiency and transparency [6] Group 2: Company Highlights - TCL's subsidiary, Gekong Dongzhi Technology, showcased its industrial AI business and digital transformation practices, promoting its intelligent application platform across over 20 sectors [2] - Bosch highlighted its commitment to open cooperation and local manufacturing, aiming to build a robust and flexible smart mobility supply ecosystem [3] - Shenglong Electric shared new AI-integrated power distribution equipment and energy management systems, significantly reducing initial investment costs and long-term energy expenses [4][5] - Ninebot presented its latest electric scooters and service robots, emphasizing its collaboration with leading suppliers to enhance product performance through innovative solutions [5] Group 3: Global Collaboration - The expo serves as a platform for international enterprises to share cutting-edge technological achievements and deepen cross-regional and cross-industry cooperation [6] - Thai Tencel Group expressed its intention to strengthen partnerships with Chinese counterparts to drive high-quality industry development and empower global business [3]

Group 1 - The core advantage of Dalian KOTIAN New Materials Co., Ltd. lies in its proprietary technology for the engineering preparation of ceramic aluminum crystal seeds, which has been developed over 30 years since its inception in a doctoral thesis in 1994 [1] - The company successfully showcased its products at the third China International Supply Chain Promotion Expo, highlighting its journey from a doctoral thesis to industrial application [1][2] - The innovation chain area at the expo was established to facilitate seamless integration between the innovation chain and the industrial chain, featuring 14 participating organizations and companies [2][3] Group 2 - The "One-Stop" application plan initiated by the Ministry of Industry and Information Technology focuses on the engineering, commercialization, and industrialization of innovative achievements in the foundational industry, involving over 1,600 upstream and downstream enterprises [4] - The collaboration between Zhongchu Guoneng and Wolong Electric resulted in the launch of the world's largest 105 MW two-pole high-speed motor, showcasing the importance of cooperative innovation in overcoming technical challenges [4] - The establishment of a reasonable pricing mechanism for intellectual property transactions is crucial for effective technology transfer, as demonstrated by the Shanghai Technology Exchange's approach [5][6]

Group 1 - The third China International Supply Chain Promotion Expo (Chain Expo) is being held in Beijing, featuring over 230 companies including Nvidia, L'Oreal, Schneider Electric, and Medtronic, emphasizing the importance of supply chain collaboration [1][2] - The Chain Expo serves as a platform for enhancing communication and cooperation among enterprises, focusing on the theme of supply chain [1] - L'Oreal's North Asia and China Public Affairs President highlighted the strategic role of the Chinese market in building a robust, efficient, and sustainable global supply chain [1][3] Group 2 - Nvidia's CEO announced the resumption of H20 chip sales in China, emphasizing the significance of the Chinese market as the second-largest technology market globally [3] - The CEO of Medtronic expressed confidence that China will become the largest medical market and an important source of innovation, showcasing a locally developed heart pacing catheter at the expo [3][4] - L'Oreal's initiatives in China, such as the upgrade of the two-dimensional barcode application guide, are enhancing global supply chain traceability and expanding their suppliers' businesses internationally [4][5]

Transaction Overview - The company signed a strategic cooperation agreement with Xuchang Shuke Supply Chain Management Co., Ltd. to enhance business development and support rapid growth, with a total annual cooperation limit of up to RMB 500 million [2][3] - The cooperation will include supply chain services, bulk material supply, and raw material supply, effective for 36 months after approval by the shareholders' meeting [2][3] Partner Information - Xuchang Shuke is a limited liability company based in Xuchang, Henan Province, with a registered capital of RMB 500 million and is wholly owned by Xuchang Jin Investment Holding Group Co., Ltd. [2][3] Agreement Details - The agreement outlines a cooperative mechanism for both parties to report progress and discuss execution solutions [3] - The business will be conducted based on market principles, with specific terms to be defined in subsequent written agreements [4] Impact on Company - The transaction is expected to support the company's rapid business development and high-quality growth, aligning with its future strategic goals [5] - It aims to meet the company's funding needs for production and operations, enhancing capital efficiency and supporting sustained performance growth [5] Previous Transactions - Prior to this agreement, the company had engaged in related transactions with Xuchang Shuke amounting to RMB 50 million since the beginning of the year [5]

Core Viewpoint - The performance of central state-owned enterprises (SOEs) listed on A-shares in the first half of the year has shown significant improvement, with 79 companies reporting positive earnings, driven by national policies and internal reforms [1] Group 1: Central SOEs Performance - 32 central SOEs achieved year-on-year growth in net profit attributable to shareholders, while 22 companies turned losses into profits, and 25 companies reduced losses [1] - 19 central SOEs have a projected upper limit for net profit growth exceeding 100%, indicating strong profitability [1] - The sectors of electric power equipment, shipbuilding, and rare earths are experiencing high demand and performance, contributing positively to the overall market [1] Group 2: Electric Power Equipment Industry - The electric power equipment industry is benefiting from national policies aimed at carbon neutrality and the construction of a new power system, leading to high-quality development [2][4] - The Ministry of Industry and Information Technology aims for an average annual revenue growth rate of over 9% for the electric power equipment industry from 2023 to 2024 [4] - Major investments in grid construction and the acceleration of ultra-high voltage projects are creating significant opportunities for electrical equipment companies [5] Group 3: Shipbuilding Industry - Despite a global downturn in shipbuilding, Chinese shipyards lead with 10.04 million CGT and 370 vessels, capturing 52% of global orders [6] - Several central SOEs in shipbuilding are expected to see substantial profit increases, with some companies projecting over 200% growth in net profit [6] - The growth is attributed to effective management, increased delivery of civilian vessels, and rising prices [6] Group 4: Rare Earth Industry - The rare earth sector is thriving due to its strategic importance and increasing demand from industries like new energy and smart manufacturing [7] - China Rare Earth anticipates a net profit of 136 million to 176 million yuan, indicating a turnaround from losses [6] - The company has adapted its marketing strategies and optimized production processes to capitalize on rising prices and demand [7] Group 5: Future Outlook - The high growth in these industries is expected to be sustainable, supported by national strategies and market demand [7] - Companies are encouraged to align with national strategies, innovate technologically, optimize supply chains, and expand into international markets to enhance growth and profitability [7]

Investment Rating - The report suggests a positive investment outlook for the nuclear power sector, driven by recent administrative orders from the Trump administration, which are expected to enhance the investment logic for nuclear power as a significant energy source for AI consumption [6]. Core Insights - The report highlights a significant push in the U.S. for $90 billion in technology and energy investments, particularly in AI and energy infrastructure, with a focus on simplifying the permitting process for AI data centers [17]. - The energy construction sector is seeing legislative advancements, such as Oregon's first microgrid framework and Georgia Power's integrated resource plan to maintain coal plants for data center support [21][22]. - The global energy market is experiencing fluctuations, with U.S. retail electricity prices averaging $0.13/kWh and oil prices showing slight declines [4]. - The report notes a robust demand for industrial robots, with a projected installation of 541,302 units in 2023, despite a slight decrease from the previous year [41]. Summary by Sections Global Infrastructure and Construction Equipment - The U.S. is witnessing a surge in AI and energy investments, with significant projects planned in Pennsylvania, including a $14.25 billion data center [19]. - Legislative measures in Oregon aim to enhance community resilience through microgrid frameworks, addressing growing electricity demands and extreme weather events [21]. Global Electrical and Intelligent Equipment - The U.S. electricity demand forecast has been revised upwards, with expectations of a 15.8% increase by 2029, indicating a strong need for electrical infrastructure [25]. - The report indicates a stable price index for electrical transformers, with a projected compound annual growth rate of 8.27% from 2024 to 2030 [29]. Global Energy Industry - The average retail electricity price in the U.S. is reported at $0.13/kWh, with fluctuations in natural gas and oil prices noted [4]. - The report emphasizes the need for increased investment in transmission infrastructure, with over $50 billion approved for new transmission expansions in the U.S. [28]. Global Defense and Aerospace - The aerospace sector is recovering steadily, with increased defense spending and modernization demands, highlighting opportunities in high-performance structural components and aerospace parts manufacturing [7].