尽管高盛和巴克莱等银行最近的仓位指标显示，投资者对股市进一步上涨的前景仍然看涨，但一些市场 参与者正开始对在人工智能上的巨额投入能否带来回报持谨慎态度。 高盛集团策略师Peter Oppenheimer指出，现在就担心高歌猛进的美股科技股存在泡沫还为时过早。 Oppenheimer表示，科技巨头这轮破纪录的涨势一直伴随着强劲的盈利增长，而在过去的泡沫中，市场 主要是由投机情绪推动的。 Oppenheimer和他的团队在一份报告中写道："科技行业的估值正变得捉襟见肘，但尚未达到历史泡沫时 期的水平。" 尽管如此，这位策略师重申了他的建议，即投资者应寻求多元化投资，以避免美股涨势过于集中以及人 工智能领域竞争加剧所带来的风险。 包括英伟达、博通和微软在内的少数科技巨头已将美股推至历史新高，因为投资者押注于人工智能带来 的持续盈利增长和生产力提升。 在一份报告指出甲骨文公司云计算业务的利润率低于许多人的预期后，科技股权重较高的纳斯达克100 指数周二有所下滑。与此同时，彭博社汇编的数据显示，新闻报道中提及"科技"和"泡沫"的次数在近几 周大幅增加。 估值也水涨船高。纳斯达克100指数的预期市盈率为28倍，而其十年平 ...

媒体称上财季甲骨文的服务器租赁业务毛利率14%。这低于许多非科技零售企业的毛利率，且远低于甲骨文传统软件业务约70%的整体毛利率。媒体还 称，在某些情况下，甲骨文因小批量租赁英伟达新旧版本的芯片而录得"相当多"的亏损。 甲骨文备受关注的云业务被爆利润率逊色，因租用英伟达的先进芯片而面临盈利压力。 美东时间10月7日周二，媒体援引内部文件称，在截至8月末的公司上一财季，甲骨文的服务器租赁录得收入9亿美元、毛利1.25亿美元，相当于每1美 元销售额获得0.14美元利润，即毛利率14%。这低于许多非科技零售企业的毛利率，而且远低于甲骨文传统软件业务约70%的整体毛利率。 上述文件数据显示，在某些情况下，甲骨文因小批量租赁英伟达新旧版本的芯片而录得"相当多"的亏损，比如上一财季就因租赁英伟达的新版Blackwell 架构芯片而亏损近1亿美元。 传出上述消息后，美股早盘尾声时，甲骨文股价加速下跌，刷新日低至271美元，日内跌幅扩大到7.1%，创9月11日以来最大盘中跌幅，最终收跌约 2.5%。有评论称，股价盘中跳水源于，甲骨文被爆出的云计算业务利润率低于许多华尔街人士的预期。 最新爆料令市场质疑甲骨文AI转型的盈利能力 ...

Group 1 - The core point of the article highlights a significant surge in Chinese brokerage stocks, with major firms like GF Securities, Huatai Securities, and CITIC Securities seeing increases of over 10% [4][6][7] - The Hang Seng Index closed at 26,622.88 points, up 1.89%, with a total market turnover of HKD 309.1 billion [2][3] - The surge in brokerage stocks coincides with a positive outlook from the People's Bank of China regarding capital market stability, emphasizing the use of securities and fund companies to maintain market stability [6][8] Group 2 - Alibaba's stock rose by 4.14% on September 29, with a trading volume of HKD 22.098 billion, following an upgrade from Morgan Stanley regarding its ADR target price due to optimistic growth expectations in its cloud computing business [9][11] - CATL (Contemporary Amperex Technology Co., Ltd.) saw a 3.11% increase in its stock price, supported by advancements in solid-state battery technology from Tsinghua University, which could enhance safety and energy density [12][14][15] - The Hong Kong Securities and Futures Commission imposed a fine of HKD 2.1 million on a brokerage firm for improper handling of client funds, highlighting regulatory scrutiny in the financial sector [16]

【导读】中资券商爆发，多只龙头股涨超10% 中国基金报记者 格林 9月29日，恒生指数收涨1.89%，报26622.88点，恒生科技指数收涨2.08%，恒生国企指数收涨1.62%。全日大市成交额为3091亿港 元，南向资金净卖出16.54亿港元。 | 1 | HSI | 恒生指数 | 26622.88c | 494.68 | 1.89% | 3091亿 | 32.72% | | --- | --- | --- | --- | --- | --- | --- | --- | | 2 | HSTECH | 恒生科技 | 6324.25c | 129.14 | 2.08% | 1009亿 | 41.54% | | 3 | HSBIO | 恒生生物科技 | 17112.39c | 313.24 | 1.86% | 137亿 | 98.49% | | 4 | HSCEI | 恒生中国企业指数 | 9454.12c | 151.02 | 1.62% | 1186亿 | 29.69% | | 5 | HSCI | 恒生综合指数 | 4112.18c | 82.59 | 2.05% | 2225亿 | 37.84% | 中资 ...

鑫元消费甄选混合发起A（017467）基金经理为姚启璠。 9月26日，光环新网跌5.04%，截至发稿，报15.08元/股，成交13.19亿元，换手率4.79%，总市值271.08 亿元。 资料显示，北京光环新网科技股份有限公司位于北京市东城区东中街9号东环广场A座三层，成立日期 1999年1月27日，上市日期2014年1月29日，公司主营业务涉及互联网数据中心业务(IDC及其增值服务) 及云计算业务。主营业务收入构成为：云计算及相关服务69.17%，IDC及其增值服务28.83%，其他 1.40%，互联网宽带接入服务0.59%。 从基金十大重仓股角度 数据显示，鑫元基金旗下1只基金重仓光环新网。鑫元消费甄选混合发起A（017467）二季度增持3.55万 股，持有股数6.86万股，占基金净值比例为4.41%，位居第八大重仓股。根据测算，今日浮亏损失约 5.49万元。 鑫元消费甄选混合发起A（017467）成立日期2023年3月24日，最新规模1275.25万。今年以来亏损 3.3%，同类排名8118/8171；近一年收益3.25%，同类排名7644/8004；成立以来亏损39.07%。 截至发稿，姚启璠累计任职 ...

杨坤累计任职时间8年17天，现任基金资产总规模1.31亿元，任职期间最佳基金回报74.82%， 任职期间 最差基金回报-18.82%。 人保行业轮动混合A（006573）成立日期2019年4月24日，最新规模5875.44万。今年以来收益24.19%， 同类排名4023/8171；近一年收益47.32%，同类排名3192/8004；成立以来收益20.17%。 人保行业轮动混合A（006573）基金经理为刘石开、杨坤。 截至发稿，刘石开累计任职时间1年8天，现任基金资产总规模15.47亿元，任职期间最佳基金回报 51.92%， 任职期间最差基金回报15.88%。 9月26日，光环新网跌5.04%，截至发稿，报15.08元/股，成交13.19亿元，换手率4.79%，总市值271.08 亿元。 资料显示，北京光环新网科技股份有限公司位于北京市东城区东中街9号东环广场A座三层，成立日期 1999年1月27日，上市日期2014年1月29日，公司主营业务涉及互联网数据中心业务(IDC及其增值服务) 及云计算业务。主营业务收入构成为：云计算及相关服务69.17%，IDC及其增值服务28.83%，其他 1.40%，互联网宽带 ...

Company Overview - Guanghuan New Network is located in Dongzhong Street, Beijing, established on January 27, 1999, and listed on January 29, 2014. The company primarily engages in Internet Data Center (IDC) services and cloud computing, with revenue composition: cloud computing and related services 69.17%, IDC and its value-added services 28.83%, others 1.40%, and Internet broadband access services 0.59% [1]. Financial Performance - As of June 30, 2025, Guanghuan New Network reported a revenue of 3.716 billion yuan, a year-on-year decrease of 5.15%, and a net profit attributable to shareholders of 115 million yuan, down 57.01% year-on-year [2]. - The company has cumulatively distributed 601 million yuan in dividends since its A-share listing, with 288 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 6.69% to 135,700, while the average circulating shares per person increased by 7.16% to 13,213 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 47.8404 million shares (a decrease of 602,300 shares), and E Fund's ChiNext ETF as the third-largest with 34.8194 million shares (a decrease of 164,600 shares) [3]. Stock Performance - On September 19, Guanghuan New Network's stock price fell by 2.03% to 14.50 yuan per share, with a trading volume of 529 million yuan and a turnover rate of 2.00%, resulting in a total market capitalization of 26.065 billion yuan [1]. - Year-to-date, the stock price has decreased by 0.21%, with a decline of 4.61% over the last five trading days and 9.03% over the last twenty days, while it has increased by 4.17% over the last sixty days [1].

Core Viewpoint - The company experienced a decline in mid-2025 performance, but the accelerated layout in IDC and computing power business driven by AI presents new growth opportunities [1] Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 3.716 billion yuan, a year-on-year decrease of 5.15%, and a net profit attributable to shareholders of 115 million yuan, down 57.01% year-on-year [2] - The non-recurring net profit attributable to shareholders was 112 million yuan, reflecting a year-on-year decline of 53.70% [2] - IDC business revenue decreased by 2.08% year-on-year, with a gross margin dropping to 32.71% [3] - Cloud computing revenue fell by 7.67% year-on-year, with a gross margin of 7.76% [3] Group 2: Business Strategy and Growth - The company is actively expanding its cabinet deployment, with over 72,000 cabinets in operation and 16,000 new cabinets added in the first half of the year [3] - Ongoing projects include the Tianjin Baodi Phase III project, Hohhot computing power base, and other strategic initiatives aimed at enhancing scale and bargaining power [3] - The company has established strategic partnerships with AI firms like Geling Deep Vision, positioning itself to benefit from the growing demand for intelligent computing [3] Group 3: Shareholder Returns - The company has implemented a profit distribution plan for 2024, distributing a cash dividend of 0.60 yuan per 10 shares (tax included) to all shareholders [4] - A "Quality Return Dual Improvement" action plan has been established to enhance long-term investment value [4]

Group 1 - The core viewpoint of the news is that Guanghuan New Network's stock has seen a significant increase, with a rise of 5.37% to 14.90 CNY per share, and a total market capitalization of 26.784 billion CNY [1] - Guanghuan New Network, established on January 27, 1999, specializes in Internet Data Center (IDC) services and cloud computing, with revenue composition showing 69.17% from cloud computing and related services, 28.83% from IDC and its value-added services, and 0.59% from Internet broadband access services [1] Group 2 - From the perspective of fund holdings, Guanghuan New Network is a significant investment for the Xingzheng Global Fund, with the Xingquan CSI 800 Six-Month Holding Index Enhanced A fund holding 3.3999 million shares, representing 4.07% of the fund's net value [2] - The Xingquan CSI 800 Six-Month Holding Index Enhanced A fund has a total scale of 1.02 billion CNY and has achieved a year-to-date return of 13.23% [2] Group 3 - The fund manager of the Xingquan CSI 800 Six-Month Holding Index Enhanced A fund, Shen Qing, has a tenure of 14 years and 318 days, with the fund's best return during this period being 162.82% [3] - The other fund manager, Zhang Xiaofeng, has a tenure of 4 years and 112 days, with a best return of 22.39% during his management [3]

Group 1 - The core viewpoint of the news is that Guanghuan New Network's stock price increased by 5.37% to 14.90 CNY per share, with a trading volume of 977 million CNY and a market capitalization of 26.784 billion CNY as of the report date [1] - Guanghuan New Network, established on January 27, 1999, and listed on January 29, 2014, primarily engages in Internet Data Center (IDC) services and cloud computing, with revenue composition of 69.17% from cloud computing and related services, 28.83% from IDC and its value-added services, 1.40% from other services, and 0.59% from Internet broadband access services [1] Group 2 - Among the top ten circulating shareholders of Guanghuan New Network, Southern Fund's Southern CSI 500 ETF (510500) increased its holdings by 3.5912 million shares in the second quarter, now holding 21.9528 million shares, which is 1.22% of the circulating shares [2] - The Southern CSI 500 ETF has a current scale of 113.438 billion CNY, with a year-to-date return of 22.64% and a one-year return of 55.74% [2]