扫码文末"投小圈" 加入行业交流群 文章来源：国家发展和改革委官网 域重要目标任务和年度重点工作，聚焦有利于实现"双碳"目标、节能降碳潜力大的领域，确定当年具体支持项目范围和要求。 第四条国家发展改革委会同各地方、有关中央单位统筹"硬投资"和"软建设"，制定完善"软建设"相关规划、政策标准等。本专项中央预算内投资支持的项 目立足于推进"软建设"落地见效，建立健全解决实际问题、推动绿色低碳循环发展的长效机制。 本办法所称中央单位是指党中央、国务院有关部门及其派出机构、垂直管理单位、所属事业单位，计划单列企业集团和中央管理企业等。 第五条本专项安排的中央预算内投资资金，根据实际情况采取直接投资、资本金注入、投资补助等方式。 第六条 本专项中央预算内投资应当用于前期手续齐全、具备开工条件的计划新开工或在建项目，不得用于已完工（含试运行）项目。 第二章支持范围和标准 节能降碳中央预算内投资专项管理办法 第一章总则 第一条 为加强和规范中央预算内投资节能降碳项目管理，保障项目顺利实施，切实发挥中央预算内投资效益，根据《中共中央、国务院关于完整准确全 面贯彻新发展理念做好碳达峰碳中和工作的意见》《中共中央、国务院关于加快 ...

Group 1 - A-shares experienced significant activity on August 6, with 77 stocks hitting the daily limit up and 3 stocks hitting the limit down [1] - The China Shipbuilding sector was notably active, with China Shipbuilding and China Heavy Industry reaching the limit up [1] - The PEEK materials sector showed strength, with Zhongxin Fluorine Materials and Xinhan New Materials achieving consecutive limit up days, while Kaisheng New Materials and Huami New Materials also hit the limit up [1] - The Intelligent Robotics sector saw gains, with Haosen Intelligent reaching the limit up [1] Group 2 - Continuous limit up stocks included Zhongma Transmission with 5 limit up days in 6 trading sessions, Beijia Clean with 5 consecutive limit up days, and Honghe Technology with 4 limit up days in 8 sessions [1] - Other notable continuous limit up stocks included Changcheng Military Industry with 4 limit up days in 5 sessions, and several stocks like *ST Yushun and *ST Dongjing achieving 4 consecutive limit up days [1] - Stocks such as Guoji Precision Engineering and Furi Electronics also recorded 3 consecutive limit up days [1] Group 3 - Stocks that hit the limit down included *ST Yatai, Xining Special Steel, and Tibet Tianlu [2]

Core Insights - The AI Fund, focusing on state-owned enterprise reform, reported a profit of 5.35 million yuan for Q2 2025, with a net asset value growth rate of 3.15% [3] - As of July 17, 2025, the fund's unit net value was 1.121 yuan, and it had a total scale of 170 million yuan [3][17] - The fund manager, Wang Yu, oversees two funds, both of which have shown positive returns over the past year, with the highest growth rate being 9.37% for the state-owned enterprise reform fund [3] Fund Performance - The fund's one-year net value growth rate is 9.37%, ranking 484 out of 601 comparable funds [4] - Over the past three months, the fund's net value growth rate was 3.51%, ranking 552 out of 607 [4] - The fund's three-year net value growth rate is -11.87%, ranking 233 out of 468 [4] Risk Metrics - The fund's three-year Sharpe ratio is -0.0946, ranking 311 out of 468 comparable funds [10] - The maximum drawdown over the past three years is 32.45%, ranking 355 out of 461 [12] - The highest quarterly drawdown occurred in Q1 2020, at 24.98% [12] Investment Strategy - The fund's portfolio is concentrated in stable industries and high-quality companies, with significant overlap in high-dividend sectors such as home appliances, public utilities, light industry, and competitive chemical and machinery sectors [3] - The average stock position over the past three years was 88.1%, with a peak of 94.15% in mid-2024 and a low of 73.51% in Q3 2023 [15] Top Holdings - As of Q2 2025, the fund's top ten holdings include Zijin Mining, Jiangsu Bank, Guodian Nanjing Automation, Yuntianhua, Hangzhou Bank, Jiangzhong Pharmaceutical, Yili Group, Shanjin International, Xiyang Group, and Goldwind Technology [21]

Group 1 - The Ministry of Industry and Trade of Vietnam is requesting companies and associations to provide information and data to demonstrate compliance and origin of products exported to the US [1] - The US is currently Vietnam's largest export market and a comprehensive strategic partner, while Vietnam ranks as the eighth largest trading partner of the US [1] - Vietnamese products are well-received in the US due to their quality and reasonable prices, and they do not directly compete with US-made products [1] Group 2 - The Ministry aims to gather opinions from various sectors regarding the US tariff policies, particularly from industries such as textiles, footwear, electronics, steel, aluminum, cashew nuts, and machinery [2] - There is a push for the US to open its market for high-tech products from Vietnam and to consider recognizing Vietnam's market economy status [2] - Long-term strategies include focusing on structural adjustments in companies, promoting green transformation, digitalization, innovation, and technology development [2]

Group 1 - The A-share market is expected to experience a phase of rebalancing in style, focusing on stable performance or marginal profit improvement [1] - A500 ETF (159339) has seen a strong surge in trading volume, exceeding 600 million yuan, indicating investor interest [1] - The A500 index covers 63% of total revenue and 70% of total net profit in the A-share market, representing core assets [1] Group 2 - Nomura Oriental International Securities notes a decline in trading volume and an increase in financing balance, reflecting volatility in market liquidity [2] - The upcoming month will see the release of corporate earnings and domestic economic data, which will influence the long-term trend of the market [2] - A500 ETF (159339) offers a low-cost investment option with an annual management fee of 0.15% and a custody fee of 0.05%, making it attractive for investors [2]

Core Viewpoint - The recent decline in the ChiNext ETF (159964) presents a notable investment opportunity, as the valuation of the ChiNext index is considered attractive, especially with a significant increase of 40.10% over the past six months [1][3]. Group 1: Market Performance - As of March 24, 2025, the ChiNext index (399006) decreased by 1.22%, with mixed performance among constituent stocks [1]. - Notable gainers included Shenghong Technology (300476) up by 4.80%, and Anker Innovation (300866) up by 3.25%, while Triangular Defense (300775) led the declines with a drop of 7.31% [1]. - The ChiNext ETF (159964) fell by 1.16%, trading at 1.36 yuan, with a turnover of 2.71 million yuan and a turnover rate of 0.52% [1]. Group 2: Valuation Insights - The current price-to-earnings (P/E) ratio of the ChiNext has dropped below 30%, indicating a potential low-point for dollar-cost averaging investments [3]. - The top ten weighted stocks in the ChiNext index account for 50.5% of the index, with Ningde Times (300750) holding the largest weight at 20.39% [3][5]. Group 3: Sector Analysis - The market is experiencing a divergence in styles, with high turnover rates in popular sectors such as computing and machinery, suggesting a need for optimization in micro trading structures [3]. - There is an expectation for cyclical asset recovery driven by policy catalysts as market styles begin to balance [3].