证券研究报告 | 2025年11月30日 2025年12月01日 基金周报 首只创业板 50ETF-DR 在泰国上市，公募基金规模再创历史新高 核心观点 金融工程周报 上周市场回顾。上周 A 股市场主要宽基指数全线上涨，创业板指、中证 1000、中小板指收益靠前，收益分别为 4.54%、3.77%、3.74%，上证 综指、沪深 300、中证 500 指数收益靠后，收益分别为 1.40%、1.64%、 3.14%。 从成交额来看，除创业板指、科创 50 外，上周主要宽基指数成交额均 有所下降。行业方面，上周通信、电子、轻工制造收益靠前，收益分别 为 8.74%、6.17%、4.43%，石油石化、煤炭、交通运输收益靠后，收 益分别为-0.62%、-0.54%、-0.53%。 截至上周五，央行逆回购净回笼资金 1642 亿元，逆回购到期 16760 亿 元，净公开市场投放 15118 亿元。不同期限的国债利率均有所上行，利 差扩大 2.37BP。 上周共上报 90 只基金，较上上周申报数量上升。申报的产品包括 2 只 REITs，3 只FOF，中证科创创业机器人ETF、中证科创创业半导体ETF、 上证科创板创新药E ...

Core Viewpoint - The technology growth market, led by sectors such as artificial intelligence, semiconductors, robotics, and innovative pharmaceuticals, is showing positive trends, with a surge in hard technology-themed funds being launched to provide investors with refined tools for investment [1][2]. Group 1: Launch of New ETFs - Seven new AI-themed ETFs and one semiconductor design ETF are set to launch on November 28, with fundraising caps of 10 billion, 20 billion, and 50 billion yuan for different funds [1][2]. - The first batch of AI-themed ETFs includes products from various fund companies, indicating a strong interest in the AI sector [1][2]. Group 2: Expansion in Hard Technology Funds - Multiple hard technology-themed funds focusing on robotics, innovative pharmaceuticals, and semiconductors have been reported, enhancing the investment product matrix in these high-potential areas [2][4]. - The first batch of robotics ETFs will track an index that includes 40 companies related to intelligent robotics, covering key products and technologies in the field [3]. Group 3: Innovative Pharmaceuticals and Semiconductors - New innovative pharmaceutical ETFs have been reported, tracking an index that reflects the overall performance of major companies in the innovative drug sector [4]. - The semiconductor sector is seeing a rich product layout, with several new ETFs and index funds being reported, indicating a growing interest in this area [4]. Group 4: Market Demand and Investment Tools - The emergence of more tool-oriented products reflects a deepening market demand, allowing investors to target specific industry trends more accurately [5]. - These products are expected to guide social capital towards high-quality enterprises in AI and semiconductor sectors, enhancing the role of capital markets in supporting strategic emerging industries [5].