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睿远基金七年路:长期价值投资面临四大挑战
Sou Hu Cai Jing· 2025-08-27 13:11
睿远基金,一家以价值投资为核心的长期价值投资机构,自2018年成立以来,仅运营了5只基金,这在 业内显得较为独特。这5只基金包括4只混合型基金和1只债券型基金,由6名基金经理共同管理。然而, 尽管团队精干,但睿远基金近年来的表现却不尽如人意。 据公开数据显示,从2022年至2024年,睿远基金旗下基金的投资收益连续三年为负,分别为-46.34亿 元、-48.83亿元和-55.68亿元。同时,其股票投资收益也呈现类似下降趋势,分别为-56.77亿元、-59.44 亿元和-67.42亿元。尽管2024年净利润实现了由负转正,达到31.8亿元,但此前两年的巨额亏损依然让 投资者担忧。 更为严峻的是,睿远基金的净资产规模也在逐年下滑。2021年末,其基金规模达到峰值633.37亿元,但 随后几年持续下降,至2025年二季度末,规模已降至约462.15亿元,较峰值减少了约27%。这一趋势反 映出投资者对睿远基金信心的减弱。 值得注意的是,睿远基金旗下最早发行的两只基金——睿远成长价值混合型和睿远均衡价值三年持有期 混合型,占据了公司总规模的逾六成。然而,这两只基金的业绩表现却令人失望。睿远成长价值混合型 近三年的年内涨 ...
新华全媒+丨2025年服贸会将启 激发服务贸易投资与消费新活力
Xin Hua Wang· 2025-08-27 09:53
新华社北京8月27日电 题:2025年服贸会将启 激发服务贸易投资与消费新活力 突出国际参与,彰显开放平台价值。9月10日上午,联合国贸发会议、商务部和北京市政府将共同 举办全球服务贸易峰会。主宾国澳大利亚将携近60家企业机构深度参与,并举办洽谈推介活动;54个国 家、21家国际组织将设展办会。 突出科技赋能,场景化展示服务贸易特色。推出"北京方案推介官"数字人解说、生物医药AI研发全 流程演示等生动场景……本届服贸会更加注重科技化、智能化应用,重点展示新技术应用场景、解决方 案和产品背后的附加服务。 突出权威发布,引领行业发展。本届服贸会将举办13场主题论坛、80余场专题论坛、70余场洽谈推 介,发布数字贸易发展与合作、世界旅游城市发展等权威报告。 新华社记者谢希瑶 9月10日至14日,以"数智领航,服贸焕新"为年度主题的2025年中国国际服务贸易交易会将在北京 举办。今年服贸会将有哪些亮点?我国服务贸易发展形势如何?怎样激发服务消费潜力?国务院新闻办 公室8月27日举行新闻发布会,回应外界关切。 "持续优化服贸会扩大开放、深化合作、引领创新的平台功能,努力打造更具全球影响力的服务贸 易盛会,为构建开放型世 ...
各地工商联助力民营企业融入全国统一大市场建设—— 当好桥梁纽带 赋能民企发展
Ren Min Ri Bao· 2025-08-18 22:09
Group 1 - The establishment of a unified national market is essential for constructing a new development pattern and promoting high-quality development [1] - The private economy is a vital force in advancing Chinese-style modernization and serves as an important foundation for high-quality development, with 4.6% year-on-year growth in newly established private enterprises in the first half of the year [1] - Local industry and commerce federations are enhancing the sense of gain for private enterprises by promoting policies, building communication platforms, and optimizing the business environment [1] Group 2 - Various local industry and commerce federations are actively conducting activities to understand enterprise needs and promote the implementation of supportive policies [2] - In Hebei Province, 1,456 enterprises and chambers of commerce were visited, resolving 387 issues and conducting 240 policy training sessions [2] - Guangdong Province's "Spring Rain Nourishing Seedlings" initiative aims to provide tailored tax policy solutions for small and micro enterprises [2] Group 3 - Local federations are organizing supply-demand matching platforms to facilitate cooperation among enterprises, enhancing industrial integration [3] - In Hunan Province, a supply and demand exchange salon was held, leading to the establishment of procurement agreements among participating enterprises [3] - The focus is on encouraging large private enterprises to lead and integrate into the unified national market [3] Group 4 - Wuhan City has launched the "Golden Bridge Plan" to connect technology-based small and micro enterprises with incubators, venture capital, and research institutions [4] - The national federation is facilitating a platform for innovative growth-oriented private enterprises to enhance collaboration and development [4] Group 5 - A multi-faceted dispute resolution mechanism is being established to optimize the legal business environment, with a focus on efficiency and cost-effectiveness [5] - The "court + chamber of commerce" model is being implemented to resolve enterprise disputes amicably and efficiently [5] - Over 6,900 mediation organizations have been established within the federation system, with more than 16,000 mediators available [6] Group 6 - Local federations are innovating dispute resolution methods to enhance service quality and efficiency [6] - The "customized mediation+" model in Yibin City has improved the effectiveness of dispute resolution through tailored services [6] - The federations are committed to reducing transaction costs and promoting fair competition to stimulate the vitality of various business entities [6]
超720亿!46家A股公司官宣中期分红
第一财经· 2025-08-10 12:05
Core Viewpoint - The article highlights the increasing trend of interim dividends among A-share companies, with many firms announcing substantial profit distributions, indicating a robust performance in the first half of the year despite some experiencing revenue declines [3][4][8]. Summary by Sections Interim Dividend Announcements - As of August 8, companies like Guanggang Gas (688548.SH) and Shuoshi Bio (688399.SH) have announced interim profit distributions, with Shuoshi Bio proposing a distribution of 3.4 yuan per share, totaling 285 million yuan [3][4]. - Nearly 50 A-share companies have disclosed interim dividend proposals, with a total distribution amount exceeding 720 billion yuan [4][6]. Major Dividend Payers - China Mobile (600941.SH) leads with a proposed dividend of 2.75 HKD per share, amounting to approximately 594.32 billion HKD (over 540 billion yuan) [4][6]. - Other significant companies include Ningde Times (300750.SZ) and Oriental Yuhong, with proposed distributions of 10.07 yuan and 9.25 yuan per share, respectively [5][6]. Performance of Dividend Companies - Many companies proposing high dividends have reported revenue and profit growth in the first half of the year, such as Dongpeng Beverage, which achieved a revenue of 10.737 billion yuan and a net profit of 2.375 billion yuan, both up over 30% year-on-year [8]. - However, some companies like China Mobile and Cangge Mining (000408.SZ) experienced slight revenue declines, with China Mobile's revenue at 543.769 billion yuan, down 0.54% year-on-year [8][9]. Upcoming Dividend Distributions - Three A-share companies, including Sujiao Science and Technology (300284.SZ), are set to implement interim dividends next week, with Sujiao proposing a distribution of 0.2 yuan per share [10][11]. Trends in Dividend Distribution - The trend of increased dividend distributions is supported by regulatory encouragement, with the total cash dividends for A-share companies in 2024 projected to reach 2.4 trillion yuan, a 9% increase from 2023 [12]. - The frequency of dividend payments is also rising, with many companies adopting policies for multiple distributions within a year [12]. Investment Considerations - Investors are advised to analyze dividend yield, coverage ratio, and sustainability when selecting stocks, considering industry differences and company fundamentals [12][13]. - In mature industries, high dividends are attractive, while in growth sectors, increased dividends may indicate a shift towards maturity or a change in profit models [13][14].
海外高频 | 特朗普提名米兰为美联储理事(申万宏观·赵伟团队)
Sou Hu Cai Jing· 2025-08-09 18:54
Group 1: Market Performance - Developed market indices showed a rebound, with Nasdaq up 3.9%, DAX up 3.1%, and S&P 500 up 2.4% [2][7] - Emerging market indices mostly increased, with the Ho Chi Minh index rising 6.0% and the Cairo CASE 30 index up 4.7% [2] - The Hang Seng Index and related indices also saw gains, with the Hang Seng Index up 1.4% and the Hang Seng Tech Index up 1.2% [12] Group 2: Commodity Prices - WTI crude oil prices fell 7.8% to $63.9 per barrel, while Brent crude dropped 8.4% to $66.4 per barrel [30] - Coking coal prices increased by 12.3% to 1227 yuan per ton, indicating a strong demand in the sector [30] - Precious metals saw gains, with COMEX gold rising 1.3% to $3403.5 per ounce and COMEX silver up 4.4% to $38.4 per ounce [34] Group 3: Economic Indicators - The ISM Services PMI for July in the U.S. was reported at 50.1, below the market expectation of 51.5, indicating a slowdown in the services sector [44] - Germany's industrial production for June decreased by 1.9%, worse than the expected decline of 0.5%, reflecting economic challenges [47] Group 4: Trade Policies - The U.S. announced a 100% tariff on all imported semiconductor chips, effective August 7, with exemptions for companies that establish or commit to establishing manufacturing in the U.S. [36] - Additionally, a 25% tariff on Indian goods was imposed, totaling 50%, effective August 28, due to geopolitical tensions [36]
费率在可比基金中最低!A500ETF龙头(563800)多空胶着,机构:A股市场向好趋势不改
Xin Lang Cai Jing· 2025-08-08 05:28
Group 1 - The core index, the CSI A500, has shown a slight increase of 0.08% as of August 8, 2025, with notable gainers including Lepu Medical (+8.48%) and Sungrow Power Supply (+6.26%) [1] - The A500 ETF leader has a trading turnover of 4.24% and a half-day transaction volume of 705 million yuan, with an average daily transaction of 1.914 billion yuan over the past year [3] - The A500 ETF leader's latest scale reached 16.659 billion yuan, with a net value increase of 7.29% over the past six months [3] Group 2 - The A500 ETF leader closely tracks the CSI A500 index, which selects 500 securities with large market capitalization and good liquidity from various industries, reflecting the overall performance of representative listed companies [4] - The index has a balanced industry distribution, with traditional and emerging industries each accounting for half, while increasing the weight of sectors like pharmaceuticals, new energy, and computers [4] - Current market trends remain strong, with margin financing balances returning to over 2 trillion yuan, indicating a recovery in market confidence [8]
8月7日增减持汇总:东方国信等19家公司减持 暂无A股增持(表)
Xin Lang Zheng Quan· 2025-08-07 13:13
Core Viewpoint - A total of 19 A-share listed companies have disclosed share reduction plans, with no companies announcing share increases on the same day [1]. Group 1: Share Reduction Details - Weilon Co., Ltd. plans to reduce no more than 0.7664% of its shares by the controlling shareholder's concerted action [2]. - Gongchuang Turf's shareholders plan to reduce no more than 0.80% of the total shares [2]. - Yujing Co., Ltd. will see a reduction of 1.12% of shares by its controlling shareholder and actual controller Yang Yuhong [2]. - Xiangxin Technology's controlling shareholder and actual controller will reduce 801,300 shares [2]. - Hengji Daxin's controlling shareholder Zhuhai Shiyou intends to reduce no more than 3% of the company's shares [2]. - Hengli Hydraulic's shareholder Shennuo Technology plans to reduce no more than 3% of the company's shares [2]. - Cangzhou Mingzhu's shareholder Junyue Rixin 17 plans to reduce no more than 1.00% of the company's shares [2]. - Tongfu Microelectronics' major fund reduced 13.1424 million shares, bringing its holding ratio down to 6.91% [2]. - Xianheng International's shareholder Goldman Sachs Asia Strategic plans to reduce no more than 12.3 million shares, accounting for no more than 3% [2]. - Hongsheng Co., Ltd.'s shareholder Changzhou Zhongke plans to reduce no more than 2.8594% of the company's shares [2]. - Dongfang Guoxin's controlling shareholder reduced 1.63% of the company's shares on August 6 [2]. - Linuo Pharmaceutical's shareholder plans to reduce no more than 3% of the company's shares [2]. - Yinlun Co., Ltd.'s directors and executives plan to reduce no more than 964,000 shares [2]. - Sanwei Xinan's Zhongwang Investment plans to reduce no more than 1% of the company's shares [2]. - Xue Neng Technology's shareholder Shanghang Xingyuan plans to reduce no more than 1.9832% of the company's shares [2]. - Zhongyan Co., Ltd.'s shareholder Wang Xiuyun plans to reduce no more than 1% of the company's shares [2]. - Zhongyou Technology's director Zhang Zhanguan plans to reduce no more than 0.0009% of the company's shares [2]. - Ruifeng Bank's Antu Automobile plans to reduce no more than 1.20% of the company's shares [2]. - Aili Home's directors and senior management plan to reduce no more than 0.108% of the company's shares [2].
IMF大幅上调中国经济增长预期,A500ETF嘉实(159351)整固蓄势,用友网络领涨成分股
Xin Lang Cai Jing· 2025-07-31 02:36
Group 1 - The A500ETF by Jiashi has a turnover rate of 5.07% and a transaction volume of 699 million yuan, with an average daily transaction of 3.113 billion yuan over the past month [2] - As of July 30, 2025, the A500ETF has achieved a net value increase of 11.01% over the past six months, with the highest monthly return since inception being 3.55% and an average monthly return of 2.05% [2] - The top ten weighted stocks in the CSI A500 index account for 20.67% of the index, with notable companies including Kweichow Moutai, CATL, and Ping An Insurance [2] Group 2 - The International Monetary Fund (IMF) has raised its forecast for China's economic growth by 0.8 percentage points for this year, citing stronger-than-expected economic activity in the first half of the year and significant reductions in US-China tariffs [2] - China's chief economist at China Galaxy Securities emphasizes that stabilizing the stock market is crucial for boosting confidence and stabilizing expectations, with a focus on structural efficiency and market-driven reforms [3] Group 3 - The top ten stocks in the CSI A500 index have shown varying performance, with Kweichow Moutai down by 1.55% and CATL down by 2.23%, reflecting the current market conditions [5] - Investors without stock accounts can access the A500ETF Jiashi through the A500ETF Jiashi linked fund (022454) for exposure to the top 500 A-share companies [5]
中期分红方案密集披露 沪市今年“现金红包”已派发1.38万亿元
Zheng Quan Shi Bao Wang· 2025-07-30 12:21
Core Viewpoint - The trend of interim dividends among companies listed on the Shanghai Stock Exchange is gaining momentum, with a significant number of companies announcing their plans for cash dividends, reflecting a strong commitment to enhancing shareholder returns [1][4]. Group 1: Interim Dividend Announcements - Ding Tong Technology plans to distribute a cash dividend of 2 yuan per 10 shares, totaling 27.84 million yuan, which accounts for 24.13% of its half-year net profit [1]. - Companies such as WuXi AppTec and Weisheng Information are implementing interim dividends for the first time since their listings, with Weisheng Information proposing a cash dividend of 1.22 million yuan, representing nearly 40% of its half-year net profit [2]. - WuXi AppTec intends to distribute 3.5 yuan per 10 shares, with a total of 10 billion yuan allocated for interim dividends, showcasing a strong commitment to shareholder returns [2]. Group 2: Continuous Dividend Practices - Dongpeng Beverage has announced a cash dividend of 2.5 yuan per share, continuing its practice of interim dividends after distributing 1.3 billion yuan in April 2025 [3]. - The company has established a robust shareholder return system through multiple cash dividend distributions, having issued a total of 5.3 billion yuan in cash dividends since its listing in 2021, maintaining a dividend payout ratio of around 50% [3]. Group 3: Industry Trends and Policies - The trend of increasing interim dividends is driven by policies such as the new "National Nine Articles," which emphasize enhancing investor returns, leading to record-high frequencies and amounts of interim dividends in the Shanghai market [4]. - In 2024, approximately 504 companies implemented interim dividends, with a total amount reaching 580 billion yuan, marking a significant increase compared to previous years [4]. - The Shanghai Stock Exchange is actively promoting higher dividend payouts and increased frequencies among listed companies to enhance investment value [4].
反内卷推动行业加快出清,A500ETF基金(512050)冲击四连阳
Xin Lang Cai Jing· 2025-07-22 06:52
Group 1 - The A500 Index (000510) has shown a 0.52% increase, with notable gains from constituent stocks such as China Energy Engineering (601868) up 10.20% and Tunnel Engineering (600820) up 10.07% [1] - The A500 ETF (512050) has also risen by 0.60%, marking its fourth consecutive increase, with the latest price at 1.01 yuan [1] - A new round of "de-involution" and capacity reduction actions has commenced across multiple industries, driven by policy signals aimed at alleviating deflationary expectations from the supply side [1] Group 2 - The A500 Index is designed to reflect the overall performance of the 500 most representative listed companies across various industries, selected based on market capitalization and liquidity [2] - As of June 30, 2025, the top ten weighted stocks in the A500 Index include Kweichow Moutai (600519) and CATL (300750), collectively accounting for 20.67% of the index [2] Group 3 - The top ten stocks in the A500 Index and their respective weightings include: - Kweichow Moutai: 1.17% increase, 3.81% weight - CATL: 1.83% increase, 2.88% weight - China Ping An: -1.19% decrease, 2.58% weight - China Merchants Bank: -0.13% decrease, 2.46% weight - Industrial Bank: -0.92% decrease, 1.68% weight - Yangtze Power: -0.61% decrease, 1.59% weight - Midea Group: 0.62% increase, 1.53% weight - Zijin Mining: 2.17% increase, 1.39% weight - BYD: 1.44% increase, 1.30% weight - Eastmoney: 0.21% increase, 1.26% weight [3] Group 4 - The A500 ETF (512050) has several related funds, including the 华夏中证A500ETF联接 series and the 华夏中证A500指数增强 series [5]