上海金ETF(159830)，对应场外联接基金（联接A：014661，联接C：014662）。 【热点事件】 来源：智通财经 截至2026年2月3日 11:02，上海金ETF(159830)盘中换手6.26%，成交1.90亿元。截至2月2日，上海金 ETF(159830)近10日净流入累计2.07亿元。 【产品亮点】 上海金ETF(159830)紧密跟踪上海金（SHAU.SGE）；费率方面，上海金ETF（159830）管理费率 0.25%，基金托管费率为0.05%，均低于同标的产品平均水平，同时该ETF支持T+0交易。 【相关产品】 【机构观点】 对于黄金走势，摩根大通分析表示，黄金价格的上涨势头将会持续。"我们对黄金的中期走势仍坚定看 涨。当前，实物资产相对于纸面资产的表现优势已根深蒂固，存在一种清晰、结构性且持续的资产配置 多元化趋势，这一趋势仍有进一步发展的空间。" 展望未来，摩根大通预测，黄金仍是一种灵活多元的投资组合对冲工具，当前投资者需求仍高于其此前 预期。今年各国央行与投资者的黄金需求规模足以推动金价在2026年底前升至每盎司6300美元。 【更多产品】 国际金价V型反转，现货黄金收复4800美 ...

截至2026年2月2日 11:22，上海金ETF(159830)盘中换手5.33%，成交1.59亿元。截至1月30日，上海金ETF(159830)近5个交 易日内有3日资金净流入，合计"吸金"1.68亿元。 【产品亮点】 此次金价巨震主要由多重因素共振引发，1 月 30 日美国官宣提名偏鹰派的凯文沃什出任美联储主席，其公开批判量化宽松 政策的立场引发市场降息预期快速降温，美元指数大幅反弹，直接打压无息黄金的配置价值，成为本轮暴跌的核心导火 索。 摩根大通指出，本轮金价暴跌是鹰派提名引发美元反弹、前期涨幅透支双重作用结果，短期市场仍处于情绪消化阶段，需 关注美联储新任主席后续政策表态。 上海金ETF(159830)紧密跟踪上海金（SHAU.SGE）；费率方面，上海金ETF（159830）管理费率0.25%，基金托管费率为 0.05%，均低于同标的产品平均水平，同时该ETF支持T+0交易。 【相关产品】 上海金ETF(159830)，对应场外联接基金（联接A：014661，联接C：014662）。 【热点事件】 周末金价迎史诗级巨震！现货黄金创数十年最大跌幅 周末时段，全球黄金市场迎来史诗级巨震，截至1月30日收 ...

截至2026年1月29日 09:33，上海金ETF(159830)强势高开，成交2073.90万元。 截至1月28日，上海金ETF(159830)最新资金净流入350.86万元。拉长时间看，近5个交易日内，合计"吸金"1.51亿元。 【产品亮点】 上海金ETF(159830)紧密跟踪上海金（SHAU.SGE）；费率方面，上海金ETF（159830）管理费率0.25%，基金托管费率为 0.05%，均低于同标的产品平均水平，同时该ETF支持T+0交易。 【相关产品】 【机构观点】 国泰海通证券指出，全球地缘政治局势的不确定性上升以及各国央行持续购金有利于支撑长期金价中枢，黄金价格仍然具 有较强的韧性。 东吴证券表示，2026年，在市场波动可能延续、全球央行持续购金去美元化的背景下，黄金作为具备长期保值功能和低相 关性的资产，在资产配置中，更值得稳健型投资者关注。 【更多产品】 | 之 宽基 | | | | --- | --- | --- | | 159977 | 创业板ETF天弘 | 创业板 | | 589860 | 科创综指ETF天弘 | 科创板 | | 159360 | 中证A500ETF天弘 | A股风向标 ...

Group 1 - The Shanghai Gold ETF (159830) reached a historical high trading price of 44.24 million yuan as of January 19, 2026 [1] - As of January 16, 2026, the Shanghai Gold ETF (159830) saw a net inflow of 6.16 million yuan, totaling 170 million yuan over the last 20 trading days [2] - The Shanghai Gold ETF (159830) closely tracks the Shanghai Gold (SHAU.SGE) and has a management fee of 0.25% and a custody fee of 0.05%, both lower than the average for similar products [2] Group 2 - The traditional savings method of "bank deposits for interest" is becoming less appealing to young people due to declining deposit rates, leading to the emergence of a new investment strategy called "New Three Golds," which includes money market funds, bond funds, and gold funds [3] - CITIC Securities projects a strong likelihood of gold price increases in 2026, driven by expectations of dual monetary and fiscal easing in the U.S. and persistent economic stagnation pressures, with a model predicting gold prices could exceed $5,100 per ounce by the end of 2026 [3]

Group 1 - The Aerospace ETF Tianhong (159241) has seen a trading volume of 9.4% with a transaction value of 77.8 million yuan, while the tracked CN5082 Aerospace Industry Index has decreased by 3.30% [1] - The top-performing stocks within the Aerospace ETF include Hongdu Aviation, which rose by 10.00%, Guorui Technology up by 4.81%, and AVIC Shenyang Aircraft Corporation up by 3.80%. Conversely, Guobo Electronics fell by 16.07%, Guoguang Electric down by 10.62%, and China Satellite down by 10.00% [1] - The Aerospace ETF Tianhong (159241) has experienced a significant growth of 469 million yuan in scale over the past six months [1] - In terms of capital inflow, the Aerospace ETF Tianhong (159241) has attracted a total of 229 million yuan over the last five trading days [1] Group 2 - The Shanghai Gold ETF (159830) closely tracks Shanghai Gold (SHAU.SGE) and has a management fee rate of 0.25% and a custody fee rate of 0.05%, both lower than the average for similar products. This ETF also supports T+0 trading [2] - The global geopolitical situation has escalated, leading to an increase in arms races and a surge in international gold prices. On January 14, the international spot gold price exceeded 4,640 USD per ounce, setting a new historical record [2] - According to Shenwan Hongyuan Securities, the military industry is expected to see continued improvement in its fundamentals in the first half of 2026, with a gradual recovery in orders and performance. The implementation of the 14th Five-Year Plan is anticipated to enhance certainty in the military sector [2]

Core Insights - The chemical ETF Tianhong (159133) has seen significant trading activity, with a transaction volume of 9.8014 million yuan and a strong increase of 1.26% in the underlying index as of November 27, 2025 [1] - The ETF has attracted over 8.8 million yuan in net inflows since its listing, reaching a record high of 558 million shares [1] - The launch of China's first green hydrogen coal chemical project marks a significant step towards the green transformation of the coal chemical industry [1] Product Highlights - The Tianhong chemical ETF (159133) tracks the CSI sub-sector chemical industry theme index, which includes companies involved in chemical products, fibers, fertilizers, and pesticides, providing a representative tool for investors [1] Key Events - The successful market operation of the first green hydrogen coupling coal chemical demonstration project in China demonstrates a replicable model for the green transformation of the coal chemical industry [1] - The project has achieved breakthroughs in core technologies, including the establishment of a large-capacity electrolyzer for stable operation in the chemical industry [2] Institutional Perspectives - Western Securities notes that the chemical industry is currently experiencing a dual bottom in valuation and profitability, with a 7.45% year-on-year increase in net profit for the basic chemical sector from Q1 to Q3 of 2025 [2] - The report highlights the importance of addressing internal competition within various sub-industries and anticipates an upward trend in the economic cycle due to resource supply constraints and steady demand recovery [2]

Core Insights - The Aerospace ETF Tianhong (159241) has shown strong trading activity, with a turnover of 13.54% and a transaction volume of 65.06 million yuan as of November 5, 2025, indicating a vibrant market engagement [2] - The fund has seen a net inflow of 5.72 million yuan recently, with a total of 37.27 million yuan in net inflows over the past five trading days, reflecting investor confidence [2] - The Aerospace ETF tracks the National Aerospace Index, which covers over 68% of the aerospace and aviation equipment sectors, making it the highest "aerospace content" military index in the market [2] Product Highlights - The top ten holdings of the Aerospace ETF include major state-owned enterprises such as Aero Engine Corporation of China and AVIC, providing both stability from core assets and growth potential from smaller market cap companies [2] - The ETF's latest share count reached 425 million, marking a one-month high [2] Industry Events - China plans to conduct four space missions in 2026, including the Tianzhou-10 cargo spacecraft and the Shenzhou-22 and Shenzhou-23 crewed spacecraft, with the Dream Boat-1 crewed spacecraft and Long March-10A rocket set for their inaugural flights [2][3] - The aerospace equipment sector demonstrated resilience in the first three quarters of 2025, with a year-on-year revenue growth of 9.3%, indicating sustained demand for orders [3] - The industry is expected to benefit from improving profitability due to recovering downstream demand and the emphasis on advanced combat capabilities in the 14th Five-Year Plan [3]

Core Insights - The Securities ETF (159841) has seen a significant increase of 2.18% as of October 29, 2025, with a turnover rate of 7.12% and a transaction volume of 759 million yuan, indicating strong market interest [3] - Notable individual stocks such as Huazhong Securities (600909) and Northeast Securities (000686) have experienced substantial gains, with increases of 8.16% and 6.86% respectively [3] - The Securities ETF has grown by 4.59 billion yuan in size over the past three months, reflecting a robust inflow of capital, with a total of 77.69 million yuan attracted over the last ten trading days [3] Product Highlights - The securities sector is characterized by strong beta attributes, closely tied to the performance of the capital market, and is often referred to as the "flag bearer of bull markets" [3] - Historical data shows that during market bull runs, the securities sector significantly outperforms the broader market, with the Securities ETF (159841) leading in liquidity among similar products [3] Key Events 1. Northeast Securities reported a net profit of 1.067 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 125.21%, driven by substantial growth in proprietary trading and wealth management revenues [3] 2. Caitong Securities announced a third-quarter revenue of 2.103 billion yuan, up 48.58% year-on-year, with a net profit of 954 million yuan, reflecting a 75.10% increase. For the first three quarters, revenue reached 5.063 billion yuan, a 13.99% increase, and net profit was 2.038 billion yuan, up 38.42% [4] Institutional Perspectives - Huatai Securities emphasizes the enhanced strategic position of the capital market, with various regulatory bodies collaborating to attract long-term funds, activate the market, and prioritize investor protection [4] - The shift in asset allocation logic in a low-interest-rate environment is leading to increased returns and reduced volatility in equity markets, prompting a migration of institutional and retail funds, which presents strategic opportunities for the brokerage sector [4]

Core Insights - The Shanghai Gold ETF (159830) has experienced a decline of over 3% as of October 28, 2025, with a turnover rate of 5.54% and a transaction volume of 117 million yuan [3] - The latest share count for the Shanghai Gold ETF reached 235 million, marking a new high since its inception, with a net inflow of 16.28 million yuan [3] - Over the past five trading days, there have been three days of net inflows totaling 650 million yuan, making it the top performer among similar products [3] Product Highlights - The Shanghai Gold ETF (159830) closely tracks the Shanghai Gold (SHAU.SGE) and has a management fee of 0.25% and a custody fee of 0.05%, both lower than the average for similar products [3] - The ETF supports T+0 trading, enhancing liquidity for investors [3] Market Trends - The international and domestic gold markets have recently undergone adjustments, with gold prices declining for three consecutive trading days, resulting in a cumulative drop of 4.23% [3] - As of October 29, the London gold price showed a slight rebound of 0.32% to 3977.08 USD/ounce, but it has not recovered the losses from the previous three days [3] Institutional Perspectives - Analysts from CICC noted that global central banks are expected to purchase over 1,000 tons of gold annually from 2022 to 2024, with a significant portion of demand coming from private sectors, financial institutions, and central banks [5] - If global central banks increase the gold proportion in their foreign reserves to 15%, the demand could reach 5,000 tons, which is equivalent to one and a half years of global gold supply, significantly impacting gold prices [5] - Despite a 20% year-on-year decline in gold purchasing demand from the private sector and global central banks in the first half of this year, financial institutions in Europe and the U.S. are ramping up their gold purchases [5]

Core Viewpoint - The aerospace ETF Tianhong (159241) has shown a significant upward trend, indicating strong market interest and potential investment opportunities in the aerospace sector [3][4]. Group 1: Market Performance - As of October 28, 2025, the aerospace ETF Tianhong (159241) increased by 1.96%, marking a three-day consecutive rise with a trading volume of 61.21 million yuan and a turnover rate of 13.04% [3]. - Key component stocks such as Great Wall Military Industry (601606) rose by 10.00%, Aerospace Development (000547) by 9.95%, and Construction Industry (002265) by 7.41% [3]. - The aerospace ETF Tianhong (159241) has attracted a total net inflow of 10.376 million yuan over the past three days [3]. Group 2: Product Highlights - The aerospace ETF Tianhong (159241) tracks the National Aerospace Index, which is highly concentrated in the defense and aerospace sectors, with a weight of 98.2% in the primary industry classification [4]. - The index is well-aligned with emerging themes such as low-altitude economy, satellite internet, and commercial aerospace, with over 68% weight in "Aerospace Equipment + Aerospace Equipment" and 76.55% in military-civilian integration [4]. Group 3: Historical Context - The Shanghai Composite Index has crossed the 4000-point mark, with the National Aerospace Index historically performing well during such bullish phases, showing increases of 38.08% in 2007 and 66.26% in 2015 [5]. Group 4: Institutional Insights - Citic Construction Investment Securities emphasizes the importance of developing the real economy, particularly highlighting the goal of becoming a strong aerospace nation, and the need for high-level technological self-reliance [6]. - The focus is on enhancing traditional industries while fostering new and future industries, promoting high-quality development in the service sector, and building a modern infrastructure system [6].