11月25日，天华新能涨5.24%，截至发稿，报52.60元/股，成交33.96亿元，换手率10.18%，总市值 436.97亿元。 广发国证新能源车电池ETF（159755）成立日期2021年6月15日，最新规模150.97亿。今年以来收益 53.97%，同类排名208/4206；近一年收益44.77%，同类排名383/3983；成立以来收益0.53%。 广发国证新能源车电池ETF（159755）基金经理为罗国庆。 截至发稿，罗国庆累计任职时间10年47天，现任基金资产总规模1047.11亿元，任职期间最佳基金回报 69.82%， 任职期间最差基金回报-48.08%。 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，苏州天华新能源科技股份有限公司位于江苏省苏州工业园区双马街99号，成立日期1997年11 月13日，上市日期2014年7月31日，公司主营业务涉及新能源锂电材料、防静电超净技术产品、医疗器 械产品的生产和销售。主营业务收入构成为 ...

11月18日，华友钴业跌5.04%，截至发稿，报64.19元/股，成交51.79亿元，换手率4.17%，总市值 1217.10亿元。 兴银国证新能源车电池ETF（159767）成立日期2021年8月6日，最新规模3.32亿。今年以来收益 73.85%，同类排名122/4212；近一年收益62.74%，同类排名177/3956；成立以来亏损7.32%。 兴银国证新能源车电池ETF（159767）基金经理为翁子晨。 截至发稿，翁子晨累计任职时间1年116天，现任基金资产总规模5.77亿元，任职期间最佳基金回报 109.97%， 任职期间最差基金回报-5.06%。 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，浙江华友钴业股份有限公司位于浙江省桐乡经济开发区二期梧振东路18号，成立日期2002年 5月22日，上市日期2015年1月29日，公司主营业务涉及新能源锂电材料和钴新材料产品的研发制造。主 营业务收入构成为：镍产品34.54%，正极材料16 ...

截至发稿，罗国庆累计任职时间10年39天，现任基金资产总规模1047.11亿元，任职期间最佳基金回报 79.2%， 任职期间最差基金回报-48.08%。 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，广发基金旗下1只基金位居天华新能十大流通股东。广发国证新能源车电池ETF（159755） 三季度新进十大流通股东，持有股数634.51万股，占流通股的比例为0.94%。根据测算，今日浮盈赚取 约2087.54万元。 广发国证新能源车电池ETF（159755）成立日期2021年6月15日，最新规模150.97亿。今年以来收益 71.96%，同类排名140/4216；近一年收益55.03%，同类排名202/3956；成立以来收益12.27%。 广发国证新能源车电池ETF（159755）基金经理为罗国庆。 11月17日，天华新能涨6.61%，截至发稿，报53.10元/股，成交1.29亿元，换手率0.36%，总市值441.13 亿元。 资料显示，苏州天 ...

Group 1 - Tianhua New Energy's stock increased by 5.12%, reaching 50.50 CNY per share, with a trading volume of 3.846 billion CNY and a turnover rate of 11.71%, resulting in a total market capitalization of 41.953 billion CNY [1] - The company, Suzhou Tianhua New Energy Technology Co., Ltd., was established on November 13, 1997, and went public on July 31, 2014. Its main business involves the production and sales of new energy lithium battery materials, anti-static ultra-clean technology products, and medical devices [1] - The revenue composition of Tianhua New Energy is heavily weighted towards lithium battery products, accounting for 99.10% of total revenue, while other products contribute 0.90% [1] Group 2 - Among the top ten circulating shareholders of Tianhua New Energy, a fund under GF Fund Management has entered the list, specifically the GF Guozhen New Energy Vehicle Battery ETF (159755), which acquired 6.3451 million shares, representing 0.94% of circulating shares [2] - The GF Guozhen New Energy Vehicle Battery ETF was established on June 15, 2021, with a current scale of 15.097 billion CNY. It has achieved a year-to-date return of 76.21%, ranking 141 out of 4216 in its category, and a one-year return of 53.38%, ranking 208 out of 3955 [2] - The fund manager of GF Guozhen New Energy Vehicle Battery ETF is Luo Guoqing, who has been in the position for 10 years and 36 days, managing a total fund size of 104.711 billion CNY, with the best fund return during his tenure being 83.44% and the worst being -48.08% [3]

Core Viewpoint - The stock of DLF (多氟多) increased by 5.02% on November 4, reaching a price of 28.68 CNY per share, with a trading volume of 3.288 billion CNY and a turnover rate of 10.85%, resulting in a total market capitalization of 34.142 billion CNY [1] Group 1: Company Overview - DLF New Materials Co., Ltd. is located in Jiaozuo City, Henan Province, and was established on December 21, 1999, with its IPO on May 18, 2010 [1] - The company's main business includes lithium hexafluorophosphate and electronic chemicals, lithium-ion batteries, new energy vehicles, and inorganic fluorides [1] - The revenue composition of the company is as follows: new energy materials 34.97%, fluorine-based new materials 30.39%, new energy batteries 25.30%, electronic information materials 5.55%, and others 3.80% [1] Group 2: Shareholder Information - According to data, one fund under GF Fund ranks among the top ten circulating shareholders of DLF. The GF Guozhen New Energy Vehicle Battery ETF (159755) entered the top ten in the third quarter, holding 11.0172 million shares, accounting for 1.02% of circulating shares [2] - The estimated floating profit for the ETF today is approximately 15.0935 million CNY [2] - The GF Guozhen New Energy Vehicle Battery ETF (159755) was established on June 15, 2021, with a latest scale of 15.097 billion CNY. Year-to-date returns are 66.93%, ranking 192 out of 4216 in its category; the one-year return is 66.09%, ranking 183 out of 3896; and since inception, the return is 8.99% [2]

Core Viewpoint - Guoxuan High-Tech (002074.SZ) reported its Q3 2025 results, highlighting significant institutional investor holdings and changes in share ownership among public funds and foreign investors [1][2] Group 1: Institutional Holdings - As of October 24, 2025, 11 institutional investors held a total of 760 million shares of Guoxuan High-Tech, representing 41.91% of the company's total share capital [1] - The top ten institutional investors include major entities such as Volkswagen (China) Investment Co., Ltd. and Nanjing Guoxuan Holding Group Co., Ltd., with their combined holdings decreasing by 1.27 percentage points compared to the previous quarter [1] Group 2: Public Fund Holdings - In the current period, two public funds increased their holdings, specifically the GF National Index New Energy Vehicle Battery ETF and the Jianxin National Index New Energy Vehicle Battery ETF, with an increase ratio of 0.44% [2] - Four public funds reported a decrease in holdings, including Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF, with a slight decline in their holdings [2] - One new public fund was disclosed this period, namely Yongying New Materials Select Mixed Fund A, while 321 public funds were not disclosed this quarter [2] Group 3: Foreign Investor Holdings - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.18% in the current period [2] - Conversely, Citibank, National Association, reduced its holdings by 0.28% compared to the previous quarter [2]

Market Overview - The Shanghai Composite Index opened higher and broke through the 3900-point mark, while the ChiNext Index and the STAR Market 50 Index experienced a pullback after reaching highs [1] - The nuclear power sector showed active performance, and the non-ferrous metals sector strengthened throughout the day [1] - In contrast, the film and cinema concept stocks collectively adjusted downwards [1] ETF Market Activity - On October 9, significant inflows were observed in the non-monetary ETF market, with the following notable changes: - The Cathay CSI All Share Securities Company ETF saw an increase of 1.341 billion shares and a net inflow of 1.691 billion yuan [2] - The GF National New Energy Vehicle Battery ETF increased by 1.158 billion shares with a net inflow of 1.312 billion yuan [2] - The Huatai-PB CSI 300 ETF increased by 245 million shares with a net inflow of 1.176 billion yuan [2] Top ETFs by Net Inflow - As of October 9, the top 20 ETFs by net inflow for the month are as follows: - Cathay CSI All Share Securities Company ETF: 1.691 billion yuan [4] - GF National New Energy Vehicle Battery ETF: 1.312 billion yuan [4] - Huatai-PB CSI 300 ETF: 1.176 billion yuan [4] - E Fund ChiNext ETF: 1.030 billion yuan [4] - Southern CSI Shenwan Non-ferrous Metals ETF: 964 million yuan [4] Overall Market Statistics - As of October 9, the total ETF shares in the market reached 30,169.48 billion shares, with a total scale of 57,006.81 billion yuan [4] - The financial sector saw the largest increase in shares, with 24 funds tracking it [4] - The largest thematic increase was in the CSI Battery sector, with 4 funds tracking it [4] - The largest index tracking increase was in the securities company sector, with 13 funds following it [4] - The highest return was observed in the industrial non-ferrous sector, which increased by 8.35%, with 1 fund tracking it [4]

Group 1 - The A-share market has experienced high-level fluctuations since September, with significant capital inflow into brokerage-related ETFs, totaling over 27 billion yuan [1][2] - The Guotai CSI All-Share Securities Company ETF alone received over 10 billion yuan in capital inflow [1][2] - As of September 26, 16 brokerage-related ETFs collectively attracted approximately 27.41 billion yuan in capital [2] Group 2 - The Guotai CSI All-Share Securities Company ETF's fund size reached 44.48 billion units by September 26, marking a 28.96% increase since the end of August, with total assets growing by 18.4% to 54.18 billion yuan [5] - Other brokerage ETFs also showed rapid growth, with the Huabao CSI All-Share Securities Company ETF's size increasing by over 20% and total assets rising by over 10% [5] - The Tianhong, Yinhua, and Nanfang CSI All-Share Securities Company ETFs each received over 1 billion yuan in capital inflow since September [5] Group 3 - The technology sector continues to attract significant capital, with the E Fund National Robot Industry ETF receiving over 6 billion yuan in inflow, doubling its size to 7.74 billion units [7] - The Guangfa National New Energy Vehicle Battery ETF and the Huitianfu CSI Battery Theme ETF each gained over 4 billion yuan in capital inflow, with their sizes reaching 12.55 billion units and 7.21 billion units, respectively [7] - The technology growth sector has shown strong performance in the first three quarters, with expectations for continued positive trends in the fourth quarter [7] Group 4 - The new energy vehicle sector is expected to receive ongoing policy support, leading to rapid growth in battery demand, particularly for solid-state batteries [8] - The battery sector is anticipated to maintain a high level of prosperity, with expectations for a favorable market in the fourth quarter [8] Group 5 - The domestic economy is expected to continue its steady recovery, supported by policy measures and improved market confidence, which will benefit the securities sector [6]

Group 1 - The A-share market has seen a continuous inflow of funds into stock ETFs, with the number of stock ETFs exceeding 10 billion yuan increasing to 57 since the end of June [1] - The newly added stock ETFs in the "100 billion club" are primarily industry-themed funds, indicating a shift in investor focus towards sector selection rather than individual stock selection [2] - As of September 22, over 20 stock ETFs have seen a net inflow of more than 1 billion yuan since September, all of which are industry-themed products [2] Group 2 - The top-performing ETF in terms of net inflow is the Guotai CSI All-Share Securities Company ETF, with a net inflow of 10.726 billion yuan, followed by other ETFs focused on the securities and new energy vehicle battery sectors [2] - Fund managers express optimism about the domestic economy's steady recovery and the supportive policies that will bolster the A-share market, particularly in the securities sector [2][3] - The battery sector is expected to maintain a high level of prosperity due to strong demand driven by the growth of new energy vehicles and the accelerated industrialization of solid-state batteries [3] Group 3 - The development of humanoid robots is seen as a significant application of artificial intelligence, with expectations for rapid growth as AI models advance and costs decrease [2] - The production and use of humanoid robots are anticipated to enhance data collection in various fields, particularly in industrial production, which will support the iterative upgrade of AI models [2] - The capital market's role in promoting technological innovation is becoming increasingly evident, as reflected in the changing dynamics of stock ETF investments [3]

Summary of Key Points Core Viewpoint - On September 17, a total of 39.78 billion yuan net inflow was recorded for industry-themed ETF funds, with a cumulative net inflow of 124.46 billion yuan over the past five trading days, indicating strong investor interest in these funds [1]. Fund Inflows - A total of 123 industry-themed ETF funds experienced net inflows on September 17, with the leading fund being the Guotai CSI All-Share Securities Company ETF (512880), which saw an increase of 9.36 million shares and a net inflow of 11.88 billion yuan [1][3]. - Other notable funds with significant net inflows include: - Huabao CSI Financial Technology Theme ETF (159851) with a net inflow of 5.25 billion yuan [3]. - Huaxia CSI Robotics ETF (562500) with a net inflow of 5.01 billion yuan [3]. - Guotai Securities ETF (512000) with a net inflow of 3.59 billion yuan [3]. Fund Outflows - On the same day, 164 industry-themed ETF funds experienced net outflows, with the Guotai CSI Coal ETF (515220) leading the outflows, which saw a reduction of 4.21 million shares and a net outflow of 4.6 billion yuan [4][5]. - Other funds with significant net outflows include: - Huabao CSI Medical ETF (512170) with a net outflow of 1.50 billion yuan [5]. - Penghua CSI Sub-Segment Chemical Industry ETF (159870) with a net outflow of 1.49 billion yuan [5]. - Huatai-PineBridge CSI Rare Earth Industry ETF (516780) with a net outflow of 1.36 billion yuan [5].