12月15日至17日，华安基金举办以"实力为鞍，乘势笃行"为主题的2026马年投资嘉年华。在这场被誉为"路演PLUS"的策略盛会上，华安基金实力投研"军 团"集体亮相，把脉2026年A股、港股、债券、指数及全球市场的投资机遇。 "实力为鞍，乘势笃行" 解码2026投资图谱 华安基金此次策略会以"实力为鞍 乘势笃行"为主题，深度阐释了公司的品牌核心和专业态度。 "实力为鞍"指华安基金将全方位的专业能力化为基石，为投资者"驾驭"市场、行稳致远提供保障。其中"鞍"字谐音"安"，传递华安基金与投资者智诚相伴 的品牌承诺。"乘势笃行"彰显华安基金把握投资机遇，锐意进取的态度。"乘势"在于敏锐洞察周期，把握投资先机；"笃行"则在于以稳健踏实的态度，将 专业洞察转化为长期回报。 投资管理能力是公募基金管理人的核心竞争力，也是服务投资人的专业能力体现。近年来，华安基金坚持打造硬核的"中心化研究平台+多元化投研团 队"，持续夯实投研核心能力，不断优化投研专业化分工与整合，着力加强平台化建设，推进长效激励约束机制，在发挥主动权益优势的同时，大力提升 固定收益投资、指数投资和大类资产配置能力。 在平台化建设方面，华安基金采取投研深 ...

12月15日至17日，华安基金举办以"实力为鞍，乘势笃行"为主题的2026马年投资嘉年华。在这场被誉为"路演PLUS"的策略盛会上，华安 基金实力投研"军团"集体亮相，把脉2026年A股、港股、债券、指数及全球市场的投资机遇。 "实力为鞍，乘势笃行" 解码2026投资图谱 华安基金此次策略会以"实力为鞍 乘势笃行"为主题，深度阐释了公司的品牌核心和专业态度。 "实力为鞍"指华安基金将全方位的专业能力化为基石，为投资者"驾驭"市场、行稳致远提供保障。其中"鞍"字谐音"安"，传递华安基金与 投资者智诚相伴的品牌承诺。"乘势笃行"彰显华安基金把握投资机遇，锐意进取的态度。"乘势"在于敏锐洞察周期，把握投资先机；"笃 行"则在于以稳健踏实的态度，将专业洞察转化为长期回报。 此次策略会，华安基金主动权益投资团队、固收团队、指数团队集体亮相，把脉2026年A股、港股、债券、指数以及全球投资机会。 华安基金副总经理、首席投资官翁启森 表示，2026年市场有望从流动性驱动逐步迈向盈利驱动。全A（非金融）盈利增长有望进一步改 善，预计TMT/制造业保持高增长、周期/消费利润逐步恢复。2026年产业机会有望扩散，可关注大制造、A ...

风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 12月15日，截止午间收盘，创业50ETF（159682）跌1.42%，报1.459元，成交额1.18亿元。创业50ETF （159682）重仓股方面，宁德时代截止午盘跌1.47%，中际旭创跌0.53%，东方财富涨0.00%，新易盛涨 0.27%，阳光电源跌3.41%，胜宏科技跌4.04%，汇川技术跌2.33%，迈瑞医疗跌0.90%，亿纬锂能跌 2.85%，同花顺跌1.33%。 创业50ETF（159682）业绩比较基准为创业板50指数收益率，管理人为景顺长城基金管理有限公司，基 金经理为汪洋、张晓南，成立（2022-12-23）以来回报为48.08%，近一个月回报为3.19%。 来源：新浪基金∞工作室 ...

创业板50ETF国泰（159375）跟踪的是创业板50指数（399673），单日涨跌幅达20%，该指数从创 业板市场中选取流动性优异、市值规模领先的50只证券作为指数样本，重点覆盖新能源、医药生物、电 子信息技术等高科技及新兴行业领域。指数成分股主要分布于电力设备、医药生物和信息技术等成长性 突出的行业，集中体现创新驱动特征和高弹性收益属性，能够综合反映创业板核心优质企业的整体表 现。 华安证券指出，创业板50指数成分股主要集中于科技成长领域，估值分位处于偏低水平。从行业景 气度看，AI算力及配套产业链呈现强劲增长态势：算力需求爆发带动高端PCB量价齐升，国内PCB产业 规模全球占比超50%；CPO光模块在算力集群建设中呈现非线性增长，预计2027~2030年市场年增速达 15%~20%；国产算力芯片替代加速，预计2027年市占率将提升至55%。同时，储能链受益AI算力功耗 提升，海外需求旺盛带动锂电材料价格回升，碳酸锂价格较年内低点已上涨近60%。科技主线中，机器 人、游戏、软件等应用端领域逐步显现产业机会，游戏行业营收增速迎来2014年以来首次拐点，AI赋 能软件开发可降低20%交易成本。 （责任编辑：张 ...

Core Points - The article discusses the performance of the Chuangye 50 ETF (159682) as of December 12, noting a 0.48% increase, with a trading volume of 203 million yuan [1] - The article highlights the performance of key stocks within the ETF, including declines in stocks like Ningde Times and Sunshine Power, while others like Xinyisheng and Shenghong Technology saw gains [1] - The Chuangye 50 ETF has a performance benchmark of the ChiNext 50 Index, managed by Invesco Great Wall Fund Management, with a return of 46.75% since its inception on December 23, 2022, and a 2.02% return over the past month [1] Stock Performance - As of the midday close, Ningde Times decreased by 0.24%, while Xinyisheng increased by 2.63% [1] - Other notable stock performances include a 1.98% increase for Shenghong Technology and a 0.57% increase for Dongfang Caifu [1] - The ETF's performance reflects mixed results among its top holdings, indicating varying market conditions for these companies [1] Fund Management - The Chuangye 50 ETF is managed by Invesco Great Wall Fund Management, with fund managers Wang Yang and Zhang Xiaonan [1] - The fund's performance since inception and recent monthly returns suggest a strong management strategy, contributing to its overall growth [1]

风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 12月4日，截止午间收盘，创业50ETF（159682）涨0.86%，报1.412元，成交额1.76亿元。创业50ETF （159682）重仓股方面，宁德时代截止午盘涨1.69%，中际旭创涨0.72%，东方财富涨0.94%，新易盛跌 0.95%，阳光电源跌0.40%，胜宏科技涨1.75%，汇川技术涨4.03%，迈瑞医疗涨0.64%，亿纬锂能跌 0.33%，同花顺涨0.38%。 创业50ETF（159682）业绩比较基准为创业板50指数收益率，管理人为景顺长城基金管理有限公司，基 金经理为汪洋、张晓南，成立（2022-12-23）以来回报为40.15%，近一个月回报为-4.91%。 来源：新浪基金∞工作室 ...

Core Viewpoint - The internationalization of A-share indices is accelerating, with the listing of the Invesco Great Wall ChiNext 50 ETF Depository Receipts on the Thailand Stock Exchange, marking a significant milestone in the overseas expansion of the ChiNext 50 Index [1] Group 1: Internationalization of ChiNext 50 Index - The ChiNext 50 Index has successfully launched products in major European exchanges and is now entering the Southeast Asian market, providing Thai investors with access to China's core technology assets [1][3] - The Shenzhen Stock Exchange has prioritized the internationalization of ChiNext products, establishing a cross-border product network across major economies in Asia, Europe, and South America [1][3] Group 2: Characteristics of ChiNext 50 Index - The ChiNext 50 Index focuses on China's "new economy," targeting high-tech industries such as new energy, advanced manufacturing, and biomedicine, making it an attractive investment for Thai investors [3] - The index consists of the 50 largest and most actively traded companies on the ChiNext, ensuring excellent liquidity, which is appealing for long-term and large-scale investors [3][4] Group 3: Performance and Growth - As of November 18, the ChiNext 50 Index has recorded a cumulative increase of 56.49% this year, outperforming other broad-based indices [3] - The top ten weighted stocks in the ChiNext 50 Index have shown impressive financial growth, with an average revenue growth rate of 48.93% and a net profit growth rate of 82.03% [4] Group 4: Strategic Partnerships and Market Demand - Invesco has partnered with InnovestX to issue and list the ChiNext 50 ETF Depository Receipts in Thailand, leveraging its global client network to meet the growing demand for investment in Chinese core assets [5][7] - The increasing interest in Chinese investments among Thai investors is driven by the high-quality development of the Chinese economy and the deepening economic and financial cooperation between China and Thailand [4][6]

Group 1 - The three major indices collectively rose in early trading on November 25, with the ChiNext 50 ETF (159682) increasing over 2.6% and a trading volume exceeding 173 million yuan [1] - Notable stocks within the ChiNext 50 ETF included Shenghong Technology, which rose over 7%, along with Xinyi Technology, Zhongji Xuchuang, BlueFocus, and Kunlun Wanwei showing significant gains [1] - The ChiNext 50 ETF has seen a net inflow of over 66 million yuan in the past two days, indicating strong investor interest [1] Group 2 - The ChiNext 50 Index has performed exceptionally well, with a year-to-date increase of over 70% as of November 21, covering sectors such as new energy, artificial intelligence, biomedicine, and high-end manufacturing [2] - This index supports investors in allocating resources to leading companies in China's technology growth [2] Group 3 - On November 25, the ChiNext 50 ETF was listed on the Thailand Stock Exchange in the form of depositary receipts, marking it as the first depositary receipt linked to a Chinese mainland ETF listed in Thailand [1] - This successful listing provides a convenient bridge for global investors to share in the achievements of China's technological innovation [1]

Group 1 - The ChiNext Index opened lower but gained strength throughout the day, with the ChiNext 50 ETF (159682) rising nearly 1.5% at one point and achieving a trading volume exceeding 170 million yuan [1] - The ETF has seen a net inflow of over 120 million yuan over the past three days, indicating strong investor interest [1] - Key stocks within the ETF include Ningde Times, Dongfang Wealth, and Zhongji Xuchuang, among others, highlighting a diverse sector allocation including manufacturing and technology services [1] Group 2 - Zhongtai Securities indicates that the technology growth sector remains a mid-term focus due to declining interest rates and supportive policies for "technological innovation" and "new productivity" [2]

Core Insights - The technology sector has been the most prominent market theme this year, with rapid rotations among sub-sectors like AI computing, semiconductors, and new energy, making it challenging for ordinary investors to navigate [1] - Broad-based index funds are emerging as a better solution for ordinary investors to participate in the technology wave, offering industry-balanced allocation that diversifies individual stock risks while capturing industry trend dividends [1] Group 1: Index Characteristics - The ChiNext 50 and Sci-Tech 100 indices are highlighted as the "twin stars" of technology investment, with distinct compositions and risk profiles that complement each other [1][4] - The ChiNext 50 index represents "mature technology anchors," featuring leading companies in new energy, communications, and electronics, which have established strong competitive advantages and exhibit stable earnings [4] - In contrast, the Sci-Tech 100 index focuses on "hard technology pioneers," concentrating on sectors like semiconductors, pharmaceuticals, and high-end manufacturing, characterized by higher growth potential and volatility [4][6] Group 2: Momentum Rotation Strategy - A momentum rotation strategy is proposed, leveraging the strong performance of the ChiNext 50 and Sci-Tech 100 indices, which exhibit a "stronger gets stronger" effect typical in the technology sector [7] - Entry signals for the strategy are defined as a cumulative increase of 8% or more over the past 20 trading days for either index, with a preference for the index showing stronger momentum [7] - The strategy includes ongoing monitoring of the holding index's momentum, with a switch to the stronger index if the other surpasses it by 3 percentage points [7][8] Group 3: Strategy Performance - Historical backtesting from November 14, 2020, to November 14, 2025, shows that the momentum rotation strategy achieved a total return of 96.36%, significantly outperforming the ChiNext 50's 31.84% and the Sci-Tech 100's -0.78% [10] - The strategy also demonstrated effective risk control, with a maximum drawdown of -25.46%, compared to -63.72% for the Sci-Tech 100 index, resulting in a Sharpe ratio of 0.59, well above the benchmark's 0.21 [10] - The strategy successfully kept pace with market trends during bullish phases and avoided significant losses during market downturns by maintaining cash positions when both indices fell below the entry threshold [10]