天眼查App显示，近日，上海峰钒技术有限公司成立，法定代表人为赵思琪，注册资本100万人民币， 经营范围为一般项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；环境保护专 用设备制造；环境保护专用设备销售；气体、液体分离及纯净设备制造；气体、液体分离及纯净设备销 售；电子专用设备制造；电子专用设备销售；环境监测专用仪器仪表制造；环境监测专用仪器仪表销 售；家用电器制造；家用电器销售；专用化学产品销售（不含危险化学品）；工程和技术研究和试验发 展；工业设计服务；大气环境污染防治服务；节能管理服务。（除依法须经批准的项目外，凭营业执照 依法自主开展经营活动）。 ...

Core Viewpoint - The AI Fund Zhongtai Hongli Preferred One-Year Holding Mixed Fund (014771) reported a profit of 54.58 million yuan in Q2 2025, with a net value growth rate of 6.28% for the period [2]. Fund Performance - As of July 17, the fund's unit net value was 1.503 yuan, with a one-year compounded net value growth rate of 23.67%, the highest among its peers [2]. - The fund's performance over different time frames includes a three-month compounded net value growth rate of 9.68%, a six-month rate of 13.10%, and a three-year rate of 54.87%, ranking 2nd among 239 comparable funds [3][10]. Fund Management - The fund's management indicated a slight decrease in overall positions during Q2, reflecting a strategy to assess reinvestment risks and opportunity costs [2]. - The fund's average stock position over the past three years was 93.12%, higher than the industry average of 85.64% [13]. Fund Size and Holdings - As of the end of Q2 2025, the fund's size was 926 million yuan [15]. - The fund has a high concentration of holdings, with the top ten stocks consistently representing over 60% of the portfolio, including major companies like China State Construction, China Resources Land, and China Merchants Bank [18]. Risk Metrics - The fund's Sharpe ratio over the past three years was 1.0068, ranking 4th among 240 comparable funds [8]. - The maximum drawdown over the past three years was 15.65%, with the largest single-quarter drawdown occurring in Q3 2024 at 11.04% [10].

发布时间：2025-05-26 大盘指数 7000 8000 9000 10000 11000 12000 2000 3000 4000 上证指数 深证成指 2000 3000 6000 7000 8000 资料来源：聚源，中邮证券研究所 研究所 分析师:黄子崟 SAC 登记编号:S1340523090002 Email:huangziyin@cnpsec.com 近期研究报告 《关税谈判利好落地后等待内需刺激 政策》 - 2025.05.19 策略观点 静水流深，谋定后动 ⚫ 投资要点 本周 A 股延续先涨后跌节奏，风格再偏向防御，延续快速轮动格 局。本周医药生物、综合、有色金属、汽车和家用电器领涨，上周涨 幅领先的美容护理、非银金融和商贸零售显著回落。本周 A 股依然缺 乏明确的交易主线，领涨的医药生物一方面是市场轮动深化后欠涨的 方向进行补涨，另一方面是即将开幕的 2025 年美国临床肿瘤学会 （ASCO）年会上多家上市公司将公布其研究成果提振了市场情绪。 A 股自去年 9.24 行情开始以来最大的特点在于走势和个人投资 者情绪之间极强的关联性，受美国关税政策带来影响，当前个人投资 者情绪指数已出现明显 ...