公募基金方面，本期较上一期持股增加的公募基金共计2个，包括易方达国证机器人产业ETF、华夏中 证机器人ETF，持股增加占比达0.99%。本期较上一季度持股减少的公募基金共计1个，即长城新兴产业 混合A，持股减少占比小幅下跌。本期较上一季未再披露的公募基金共计309个，主要包括兴全合润混 合A、兴全合宜混合A、永赢先进制造智选混合发起A、博时科创板人工智能ETF、南方中证1000ETF 等。 2025年10月25日，奥比中光(688322.SH)发布2025年第三季报。截至2025年10月24日，共有8个机构投资 者披露持有奥比中光A股股份，合计持股量达8158.25万股，占奥比中光总股本的20.34%。其中，机构 投资者包括上海云鑫创业投资有限公司、珠海奥比中芯投资合伙企业(有限合伙)、香港中央结算有限公 司、兴业银行股份有限公司-华夏中证机器人交易型开放式指数证券投资基金、中国建设银行股份有限 公司-易方达国证机器人产业交易型开放式指数证券投资基金、珠海奥比中瑞投资合伙企业(有限合伙)、 深圳市福田引导基金投资有限公司、长城新兴产业混合A，机构投资者合计持股比例达20.34%。相较于 上一季度，机构持股比例 ...

外资态度来看，本期较上一季度持股减少的外资基金共计1个，即香港中央结算有限公司，持股减少占 比达0.37%。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 2025年10月25日，道通科技(688208.SH)发布2025年第三季报。截至2025年10月24日，共有6个机构投资 者披露持有道通科技A股股份，合计持股量达7352.35万股，占道通科技总股本的10.97%。其中，机构 投资者包括香港中央结算有限公司、达孜熔岩投资管理有限公司-平潭熔岩新战略股权投资合伙企业(有 限合伙)、玄元私募基金投资管理(广东)有限公司-玄元科新46号私募证券投资基金、深圳市道通科技股 份有限公司-2024年员工持股计划、国投证券股份有限公司-博时上证科创板人工智能交易型开放式指数 证券投资基金、招商银行股份有限公司-南方中证1000交易型开放式指数证券投资基金，机构投资者合 计持股比例达10.97%。相较于上一季度，机构持股比例合计下跌了2.95个百分点。 公募基金方面，本期较上一期持股增加的公募基金共计1个，即博时科创板人工智能ETF，持股增加占 比达0.12%。本期较上一季度持股减少的公募基金共 ...

Core Insights - The third quarter of 2025 saw a remarkable performance in the securities market, particularly in the technology sector, with the ChiNext Index and the STAR 50 Index showing significant gains, especially the ChiNext Index which increased by over 50% [1] - The fund market also performed well, with several funds reporting substantial growth in their scales, indicating a strong interest in technology-related investments [1][3] Fund Performance - The Dongcai Stable Allocation Six-Month Holding Mixed Fund (FOF) saw its scale increase to 191 million yuan, up over 800% from 20.36 million yuan at the end of the second quarter [2] - The Huafu CSI Artificial Intelligence Industry ETF's scale reached 8.079 billion yuan, doubling from 3.575 billion yuan at the end of the second quarter [3] - The Huafu CSI Artificial Intelligence Industry ETF's connected fund also experienced growth, rising from 996 million yuan to 2.658 billion yuan [3] Market Trends - Institutions remain optimistic about the technology sector, particularly artificial intelligence, which is seen as having high allocation value due to its ongoing performance and growth potential [7] - The total social financing in September was 3.53 trillion yuan, with significant increases in corporate loans, indicating a growing demand from businesses [7] - The top five sectors by trading volume in the third quarter were electronics, computers, power equipment, machinery, and pharmaceuticals, highlighting the dominance of technology in the market [8] Investment Opportunities - The ChiNext and STAR boards are becoming increasingly attractive for companies in the AI sector, with a focus on hardware, software, and applications [9] - The Huabao ChiNext Artificial Intelligence ETF has recently seen significant growth, surpassing 4 billion yuan in scale, indicating its potential as a rising star in the technology sector [10] - The AI industry is expected to benefit from a long-term positive trend, with domestic AI ecosystems rapidly developing and showing signs of acceleration across various segments [10]

Core Viewpoint - On September 30, 2023, Amlogic Co., Ltd. saw a stock price increase of 5.15%, reaching 110.92 CNY per share, with a trading volume of 768 million CNY and a turnover rate of 1.68%, resulting in a total market capitalization of 46.709 billion CNY [1] Group 1: Company Overview - Amlogic Co., Ltd. is located in Shanghai and was established on July 11, 2003, with its IPO on August 8, 2019 [1] - The company specializes in the research, design, and sales of system-level SoC chips and peripheral chips, with 99.98% of its revenue coming from product sales and 0.02% from leasing services [1] Group 2: Fund Holdings - According to data, Bosera Fund has a significant holding in Amlogic Co., Ltd., with its Bosera Sci-Tech Innovation Board Artificial Intelligence ETF (588790) increasing its stake by 1.2316 million shares in the second quarter, bringing the total to 3.3748 million shares, which constitutes 5.65% of the fund's net value, ranking it as the seventh-largest holding [2] - The Bosera Sci-Tech Innovation Board Artificial Intelligence ETF (588790) was established on December 31, 2024, with a current size of 4.245 billion CNY and a year-to-date return of 70.35%, ranking 129 out of 4220 in its category [2]

Core Insights - On September 19, industry-themed ETFs saw a net inflow of 34.13 billion yuan, with a cumulative net inflow of 227.3 billion yuan over the past five trading days, indicating strong investor interest in this sector [1] - A total of 194 industry-themed ETFs experienced net inflows, with the top performer being the Huaxia CSI Robot ETF (562500), which saw an increase of 4.91 million shares and a net inflow of 5.29 billion yuan [1][3] - Conversely, 221 industry-themed ETFs recorded net outflows, with the top outflow being from the Bosera STAR Market AI ETF (588790), which had a reduction of 3.96 million shares and a net outflow of 3.27 billion yuan [1][5] Fund Performance - The Huaxia CSI Robot ETF (562500) had a decrease of 2.73% in value, with a total of 188.16 million shares after a net inflow of 5.29 billion yuan, bringing its latest scale to 200.99 billion yuan [3] - The E Fund National Robot Industry ETF (159530) decreased by 3.23%, with a net inflow of 4.22 billion yuan and a total of 72.06 million shares [3] - The Bosera STAR Market AI ETF (588790) decreased by 2.16%, with a total of 82.84 million shares after a net outflow of 3.27 billion yuan [5] Sector Trends - The food and beverage ETF (515170) saw a slight decrease of 2.31% in the last five days, with a total of 84.6 billion shares and a net outflow of 24.04 million yuan [7] - The gaming ETF (159869) increased by 3.64%, with a total of 56.2 billion shares and a net inflow of 1.76 million yuan [7] - The cloud computing ETF (516630) experienced a minor decrease of 0.37%, with a total of 3.6 billion shares and a net outflow of 200.4 thousand yuan [8]

9月11日，复旦微电涨5.03%，截至发稿，报59.05元/股，成交5.34亿元，换手率1.73%，总市值485.05亿 元。复旦微电股价已经连续4天上涨，区间累计涨幅5.1%。 博时科创板人工智能ETF（588790）成立日期2024年12月31日，最新规模42.45亿。今年以来收益 55.77%，同类排名155/4222；成立以来收益55.77%。 博时科创板人工智能ETF（588790）基金经理为李庆阳。 资料显示，上海复旦微电子集团股份有限公司位于上海市杨浦区国泰路127号4号楼，成立日期1998年7 月10日，上市日期2021年8月4日，公司主营业务涉及上海复旦微电子集团股份有限公司主要从事集成电 路(IC)相关业务。该公司通过两个业务分部进行运营:设计、开发及销售集成电路分部及提供集成电路测 试服务分部。该公司还通过其子公司从事制造探针卡、开发及销售电脑软件、硬件、电子产品及通讯系 统,以及提供投资管理与咨询服务、IC技术研究和咨询服务以及计算机网络技术研究和咨询服务。主营 业务收入构成为：FPGA及其他产品37.04%，非挥发性存储器23.92%，安全与识别芯片21.35%，智能电 表芯片13. ...

Summary of Key Points Core Viewpoint - On September 1, the industry-themed ETF funds experienced a net inflow of 9.686 billion yuan, with a cumulative net inflow of 42.116 billion yuan over the past five trading days, indicating strong investor interest in these funds [1]. Fund Inflows - A total of 250 industry-themed ETFs saw net inflows, with the top performer being the Penghua CSI Subdivision Chemical Industry ETF (159870), which had an increase of 1.732 billion shares and a net inflow of 1.201 billion yuan [1][3]. - The latest scale of the Penghua CSI Subdivision Chemical Industry ETF reached 6.667 billion yuan [3]. Fund Outflows - Conversely, 158 industry-themed ETFs experienced net outflows, with the leading outflow being from the Huabao CSI Financial Technology Theme ETF (159851), which saw a reduction of 1.156 billion shares and a net outflow of 1.165 billion yuan [1][4]. - The latest scale of the Huabao CSI Financial Technology Theme ETF was 10.535 billion yuan [5]. Performance Overview - The performance of various ETFs varied, with the following notable changes: - The Guotai CSI All-Share Securities Company ETF (512880) decreased by 1.05% with a net inflow of 789 million yuan [3]. - The Southern CSI Shenwan Nonferrous Metals ETF (512400) increased by 3.16% with a net inflow of 642 million yuan [3]. - The Guotai CSI All-Share Communication Equipment ETF (515880) increased by 5.91% with a net inflow of 630 million yuan [3]. Detailed Outflow Data - The top ten ETFs with the highest net outflows included: - Huabao CSI Financial Technology Theme ETF: -1.165 billion yuan [4][5]. - Guolian An CSI Semiconductor ETF: -711 million yuan [4][5]. - Huabao CSI Medical ETF: -452 million yuan [4][5].

Core Viewpoint - As of August 28, the total margin balance for ETFs in the Shanghai and Shenzhen markets is 107.74 billion yuan, showing a decrease of 877 million yuan from the previous trading day [1] Summary by Category ETF Margin Balance - The ETF financing balance is 100.588 billion yuan, down by 1.167 billion yuan from the previous trading day [1] - The ETF margin short balance is 7.152 billion yuan, which increased by 290 million yuan compared to the previous trading day [1] Net Buy Activity - On August 28, 219 ETFs experienced net financing purchases, with the Bosera Sci-Tech Innovation Board Artificial Intelligence ETF leading with a net purchase amount of 278 million yuan [1] - Other ETFs with significant net buy amounts include the Harvest CSI Sci-Tech Innovation Board Chip ETF, GF CSI Hong Kong Innovative Medicine ETF, Huatai-PB Hang Seng Technology ETF, E Fund ChiNext ETF, and China Asset Management Hang Seng Internet Technology ETF, each exceeding 100 million yuan in net purchases [1]

Summary of Key Points Core Viewpoint - The latest balance of ETF margin trading in the two markets is 107.74 billion yuan, showing a decrease of 877 million yuan compared to the previous trading day, indicating a slight decline in market activity [1]. Group 1: ETF Margin Trading Overview - As of August 28, the total ETF margin trading balance is 107.74 billion yuan, down 0.81% from the previous day [1]. - The financing balance for ETFs is 100.59 billion yuan, which is a decrease of 1.15% or 1.17 billion yuan from the previous day [1]. - The Shenzhen market's ETF margin trading balance is 33.83 billion yuan, an increase of 1.82 million yuan, while the Shanghai market's balance is 73.91 billion yuan, a decrease of 10.59 billion yuan [1]. Group 2: Notable ETFs and Financing Balances - There are 120 ETFs with financing balances exceeding 100 million yuan, with the highest being Huaan Gold ETF at 7.14 billion yuan [2]. - The ETFs with the largest increases in financing balances include Qianhai Kaiyuan Gold ETF, Tianhong Shanghai Gold ETF, and Tianhong CSI A500 ETF, with increases of 1791.72%, 617.79%, and 288.86% respectively [2]. - Conversely, the ETFs with the largest decreases in financing balances include the Sci-Tech Innovation Index ETF, Guotai 5-Year Government Bond ETF, and Tianhong CSI 500 ETF, with decreases of 85.43%, 79.42%, and 77.83% respectively [2]. Group 3: Margin Trading and Short Selling - The latest short selling balance for ETFs shows significant increases, with the Southern CSI 1000 ETF, Southern CSI 500 ETF, and Huaxia CSI 1000 ETF leading in short selling balances [4][5]. - The highest increase in short selling volume is seen in the Guangfa CSI All-Index Information Technology ETF, with a 99.10% increase [5]. - The ETFs with the largest decreases in short selling balances include the Jia Shi Sci-Tech Innovation Chip ETF and Tianhong CSI Photovoltaic Industry ETF, with reductions of 568.38 million yuan and 131.61 million yuan respectively [6].

Group 1 - A number of actively managed equity funds are adjusting their product strategies to focus on semiconductor and computing power sectors related to the automotive industry, aiming to capture opportunities over the next 1 to 3 years [1][2] - The manager of the Hongyi Yuanfang Automotive Industry Upgrade Fund indicated that the fund will refine its investment direction to adapt to the new development stage of the industry, particularly in advanced semiconductor processes and ASICs, drawing parallels to the emergence of new energy vehicles around 2015 [2][4] - The fund has achieved over 70% returns in the past year, reflecting a broader trend where more funds are transforming their focus towards technology sectors, including robotics, with notable returns of 75% and 60% from other funds [2][4] Group 2 - The shift towards "hard technology" is driven by the long-term investment value seen in sectors like optical modules, liquid cooling, and computing chips, which have recently benefited from high growth in performance and unexpected downstream demand [4] - Data shows that four out of the top five ETFs by net subscription this year are technology-focused, with significant inflows into funds like the Fortune CSI Hong Kong Internet ETF, which saw nearly 44.5 billion units in net subscriptions [4] - Caution is advised regarding the transformation of funds, as historical instances have shown that concentrated shifts can lead to significant declines in fund value when market conditions change [4][5]