来源 | 野马财经 作者 | 李白玉 资金面的改善，成为推动市场上涨的重要力量。 2026年，中国资本市场以一场气势如虹的"开门红"拉开序幕。 元旦后首个交易日，A股三大指数集体走高，上证指数不仅成功收复4000点整数关口，更是创下1992年 3月以来最长连阳纪录的"十二连阳"，市场单日成交额放量至2.57万亿元，做多情绪急剧升温。这场早 春的躁动，不仅为投资者注入了强心剂，更预示着，在经历了2025年的全面回暖后，一个更具活力与深 度的新市场周期正在开启。 这场牛市盛宴的背后，公募基金行业无疑是重要的推动者与受益者。截至2025年11月底，行业总规模已 突破历史性的37万亿元大关，实现了连续八个月创下新高的跨越式增长。其中，ETF的爆发尤为耀眼， 接连突破4万亿、5万亿和6万亿元三大整数关口，中国也正式取代日本，成为亚洲规模最大的ETF市 场。 图源：罐头图库 站在2026年的新起点，公募基金的产品布局显著提速。AI产业的业绩兑现、内需消费的政策红利以及 高端制造的战略机遇等，共同勾勒出2026年的投资主线。如华夏基金等头部机构，则通过构建覆盖全领 域的工具化产品，为投资者在复杂市场中捕捉机遇、分散风险提供 ...

Summary of Key Points Core Viewpoint - On September 10, the industry-themed ETF funds experienced a net inflow of 1.12 billion yuan, with a cumulative net inflow of 16.857 billion yuan over the past five trading days, indicating strong investor interest in these funds [1]. Fund Inflows - A total of 132 industry-themed ETFs saw net inflows, with the top performer being the Yongying CSI Hong Kong and Shanghai Gold Industry Stock ETF (517520), which had an increase of 402 million shares and a net inflow of 747 million yuan [1][3]. - The latest scale of the Yongying ETF is 9.308 billion yuan, despite a decline of 1.69% in its price [3]. Fund Outflows - Conversely, 143 industry-themed ETFs experienced net outflows, with the leading outflow being from the Huatai-PineBridge CSI Photovoltaic Industry ETF (515790), which saw a reduction of 506 million shares and a net outflow of 441 million yuan [4][5]. - The latest scale of the Huatai ETF is 14.882 billion yuan, with a price drop of 1.80% [5]. Detailed Fund Performance - Other notable ETFs with significant net inflows include: - Penghua CSI Sub-Segment Chemical Industry ETF (159870) with a net inflow of 448 million yuan [3]. - Guotai CSI All-Index Securities Company ETF (512880) with a net inflow of 363 million yuan [3]. - ETFs with significant net outflows include: - E Fund CSI Artificial Intelligence Theme ETF (159810) with a net outflow of 344 million yuan [5]. - Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF (588200) with a net outflow of 341 million yuan [5].

Core Viewpoint - The stock price of Tuowei Information has experienced a significant decline, dropping 5.09% on September 4, with a cumulative drop of 17.62% over four consecutive days, indicating potential concerns regarding the company's performance and market sentiment [1]. Company Overview - Tuowei Information System Co., Ltd. is located in Changsha, Hunan Province, and was established on May 20, 1996. The company was listed on July 23, 2008. Its main business includes K-12 education services and mobile internet products based on mobile games and animations. The revenue composition is as follows: software and services 72.71%, intelligent computing products 21.74%, and others 5.55% [1]. Shareholder Analysis - Among the top ten circulating shareholders of Tuowei Information, one fund from Huaxia Fund, the Huaxia CSI Artificial Intelligence Theme ETF (515070), entered the top ten in the second quarter, holding 2.9004 million shares, which is 0.25% of the circulating shares. The estimated floating loss today is approximately 5.3657 million yuan, with a total floating loss of 22.5361 million yuan over the four-day decline [2]. Fund Performance - The Huaxia CSI Artificial Intelligence Theme ETF (515070) has a total asset scale of 55.82 billion yuan and has achieved a return of 57.51% year-to-date, ranking 182 out of 4222 in its category. Over the past year, it has returned 128.21%, ranking 58 out of 3789, and since its inception, it has returned 82.27% [2]. Fund Manager Information - The fund manager of the Huaxia CSI Artificial Intelligence Theme ETF (515070) is Li Jun, who has been in the position for 7 years and 270 days. The fund's total asset scale is 566.61 billion yuan, with the best return during his tenure being 106.79% and the worst being -47.11% [3]. Top Holdings Analysis - The Huaxia CSI Big Data Industry ETF (516000), another fund under Huaxia Fund, has reduced its holdings in Tuowei Information by 50,800 shares in the second quarter, now holding 424,600 shares, which constitutes 3.17% of the fund's net value. The estimated floating loss today is about 785,500 yuan, with a total floating loss of 3.2991 million yuan during the four-day decline [4]. Additional Fund Manager Information - The fund manager of the Huaxia CSI Big Data Industry ETF (516000) is Si Fan, who has been in the role for 4 years and 62 days. The fund's total asset scale is 16.508 billion yuan, with the best return during his tenure being 71.49% and the worst being -46.17% [5].