富国中证军工龙头ETF（512710）基金经理为王乐乐、牛志冬。 截至发稿，王乐乐累计任职时间10年159天，现任基金资产总规模506.48亿元，任职期间最佳基金回报 139.49%， 任职期间最差基金回报-97.19%。 牛志冬累计任职时间10年248天，现任基金资产总规模248亿元，任职期间最佳基金回报141.65%， 任职 期间最差基金回报-88.81%。 1月12日，航发科技涨5%，截至发稿，报46.62元/股，成交12.72亿元，换手率8.64%，总市值153.91亿 元。 资料显示，中国航发航空科技股份有限公司位于四川省成都市新都区三河镇蜀龙大道成发工业园，成立 日期1999年12月28日，上市日期2001年12月12日，公司主营业务涉及航空发动机及燃气轮机零部件的研 发、制造、销售、服务。主营业务收入构成为：内贸航空及衍生产品63.59%，外贸转包35.26%，工业 民品及其他1.15%。 从航发科技十大流通股东角度 数据显示，富国基金旗下1只基金位居航发科技十大流通股东。富国中证军工龙头ETF（512710）三季 度增持80.94万股，持有股数524.54万股，占流通股的比例为1.59%。根据 ...

1月8日，中科星图涨5.05%，截至发稿，报61.15元/股，成交11.08亿元，换手率2.32%，总市值494.14亿 元。 资料显示，中科星图股份有限公司位于北京市顺义区临空经济核心区机场东路2号(产业园1A-4号1、5、 7层)，成立日期2006年1月20日，上市日期2020年7月8日，公司主营业务涉及面向政府、企业以及特种 领域用户提供软件销售与数据服务、技术开发与服务、一体机产品,以及系统集成。主营业务收入构成 为：地理信息-民用领域53.46%，地理信息-特种领域27.46%，商业航天14.34%，低空经济4.73%，其他 (补充)0.01%。 从中科星图十大流通股东角度 数据显示，富国基金旗下1只基金位居中科星图十大流通股东。富国中证军工龙头ETF（512710）三季 度增持140.54万股，持有股数917.56万股，占流通股的比例为1.14%。根据测算，今日浮盈赚取约 2697.63万元。 富国中证军工龙头ETF（512710）成立日期2019年7月23日，最新规模146.9亿。今年以来收益6.41%， 同类排名699/5493；近一年收益43.88%，同类排名1543/4197；成立以来收益 ...

数据显示，富国基金旗下1只基金位居航发控制十大流通股东。富国中证军工龙头ETF（512710）三季 度增持267.73万股，持有股数1783.82万股，占流通股的比例为1.36%。根据测算，今日浮盈赚取约 2104.91万元。连续3天上涨期间浮盈赚取927.59万元。 1月6日，航发控制涨5.52%，截至发稿，报22.55元/股，成交7.95亿元，换手率2.77%，总市值296.57亿 元。航发控制股价已经连续3天上涨，区间累计涨幅2.49%。 牛志冬累计任职时间10年242天，现任基金资产总规模248亿元，任职期间最佳基金回报130.82%， 任职 期间最差基金回报-88.81%。 资料显示，中国航发动力控制股份有限公司位于江苏省无锡市滨湖区梁溪路792号，成立日期1997年6月 20日，上市日期1997年6月26日，公司主营业务涉及航空、航天发动机控制系统产品的研制、生产、销 售、修理;汽车零部件、摩托车零部件生产、销售。主营业务收入构成为：航空发动机及燃气轮机控制 系统89.13%，国际合作7.48%，控制系统技术衍生产品3.39%。 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 ...

Group 1 - Inner Mongolia First Machinery Group Co., Ltd. (Inner Mongolia Yijian) experienced a stock price increase of 1.03%, reaching 16.67 CNY per share, with a trading volume of 231 million CNY and a turnover rate of 0.83%, resulting in a total market capitalization of 28.369 billion CNY [1] - The company, established on December 29, 2000, and listed on May 18, 2004, specializes in the research, development, manufacturing, sales, and asset management of wheeled armored vehicles, artillery series military equipment, railway vehicles, and vehicle components [1] Group 2 - The top circulating shareholder of Inner Mongolia Yijian is the Fortune Fund, which increased its holdings in the Fortune CSI Military Industry Leaders ETF (512710) by 3.0254 million shares, bringing the total to 19.2144 million shares, representing 1.13% of the circulating shares [2] - The Fortune CSI Military Industry Leaders ETF (512710) was established on July 23, 2019, with a current scale of 14.69 billion CNY, achieving a year-to-date return of 22.23% and a one-year return of 20.92% [2]

12月29日，宝钛股份涨5.23%，截至发稿，报39.87元/股，成交7.54亿元，换手率4.04%，总市值190.49 亿元。宝钛股份股价已经连续4天上涨，区间累计涨幅6.43%。 资料显示，宝鸡钛业股份有限公司位于陕西省宝鸡市高新开发区高新大道88号，成立日期1999年7月21 日，上市日期2002年4月12日，公司主营业务涉及本公司主要从事钛及钛合金的生产、加工和销售等。 主营业务收入构成为：钛产品86.74%，其他金属产品8.74%，其他(补充)4.52%。 从宝钛股份十大流通股东角度 数据显示，富国基金旗下1只基金位居宝钛股份十大流通股东。富国中证军工龙头ETF（512710）三季 度增持94.85万股，持有股数645.89万股，占流通股的比例为1.35%。根据测算，今日浮盈赚取约1278.86 万元。连续4天上涨期间浮盈赚取1479.09万元。 富国中证军工龙头ETF（512710）成立日期2019年7月23日，最新规模146.9亿。今年以来收益20.67%， 同类排名2729/4197；近一年收益20.98%，同类排名2509/4180；成立以来收益49.95%。 富国中证军工龙头ETF（512 ...

Quantitative Models and Construction Methods 1. Model Name: Large Order Transaction Amount Ratio - **Model Construction Idea**: This model tracks the buying behavior of large funds by calculating the proportion of large order transaction amounts to the total daily transaction amount[7] - **Model Construction Process**: 1. Use tick-by-tick transaction data to identify buy and sell orders based on bid and ask sequence numbers 2. Filter transactions by order size to identify large orders 3. Calculate the ratio of large buy order transaction amounts to the total daily transaction amount - Formula: $ \text{Large Order Transaction Amount Ratio} = \frac{\text{Large Buy Order Transaction Amount}}{\text{Total Daily Transaction Amount}} $ - **Model Evaluation**: This indicator effectively captures the buying behavior of large funds[7] 2. Model Name: Net Active Buy Amount Ratio - **Model Construction Idea**: This model measures the active buying behavior of investors by calculating the net active buy amount as a proportion of the total daily transaction amount[7] - **Model Construction Process**: 1. Use tick-by-tick transaction data to classify each transaction as either active buy or active sell based on the buy/sell flag 2. Calculate the net active buy amount by subtracting the active sell amount from the active buy amount 3. Compute the ratio of the net active buy amount to the total daily transaction amount - Formula: $ \text{Net Active Buy Amount Ratio} = \frac{\text{Active Buy Amount} - \text{Active Sell Amount}}{\text{Total Daily Transaction Amount}} $ - **Model Evaluation**: This indicator effectively captures the active buying behavior of investors[7] --- Model Backtesting Results 1. Large Order Transaction Amount Ratio - **Top 10 Stocks by 5-Day Average**: - **East Securities (601198.SH)**: 88.1%, 99.6% time-series percentile[9] - **Shanghai Kaibao (300039.SZ)**: 86.3%, 100.0% time-series percentile[9] - **Sanxiang Impression (000863.SZ)**: 86.0%, 99.6% time-series percentile[9] - **Chongqing Steel (601005.SH)**: 86.0%, 78.7% time-series percentile[9] - **Jinzhengda (002470.SZ)**: 85.7%, 89.8% time-series percentile[9] - **Wanlong Optoelectronics (300710.SZ)**: 85.6%, 99.6% time-series percentile[9] - **Yasheng Group (600108.SH)**: 85.5%, 84.4% time-series percentile[9] - **Sinochem International (600500.SH)**: 85.5%, 90.4% time-series percentile[9] - **Chongqing Water (601158.SH)**: 85.2%, 96.7% time-series percentile[9] 2. Net Active Buy Amount Ratio - **Top 10 Stocks by 5-Day Average**: - **Jiuhua Tourism (603199.SH)**: 26.2%, 100.0% time-series percentile[10] - **Bailong Oriental (601339.SH)**: 22.9%, 100.0% time-series percentile[10] - **Zijin Bank (601860.SH)**: 20.2%, 100.0% time-series percentile[10] - **Bailong Chuangyuan (605016.SH)**: 19.5%, 100.0% time-series percentile[10] - **Hengshun Vinegar (600305.SH)**: 17.8%, 100.0% time-series percentile[10] - **Qingfangcheng (600790.SH)**: 17.7%, 99.6% time-series percentile[10] - **Shandong Steel (600022.SH)**: 17.7%, 99.6% time-series percentile[10] - **Shengda Forestry (002259.SZ)**: 17.5%, 100.0% time-series percentile[10] - **Taoli Bread (603866.SH)**: 17.2%, 100.0% time-series percentile[10] - **Jiangsu Sopo (600746.SH)**: 16.8%, 100.0% time-series percentile[10] 3. Broad-Based Indices - **5-Day Average Results**: - **Shanghai Composite Index**: Large Order Ratio 73.7% (82.0% percentile), Net Active Buy Ratio 2.2% (3.7% percentile)[12] - **SSE 50**: Large Order Ratio 71.7% (58.2% percentile), Net Active Buy Ratio 5.8% (92.6% percentile)[12] - **CSI 300**: Large Order Ratio 73.0% (41.0% percentile), Net Active Buy Ratio 2.9% (20.9% percentile)[12] - **CSI 500**: Large Order Ratio 73.8% (86.9% percentile), Net Active Buy Ratio 1.5% (3.3% percentile)[12] - **ChiNext Index**: Large Order Ratio 70.5% (6.1% percentile), Net Active Buy Ratio 0.1% (14.8% percentile)[12] 4. Industry-Level Analysis - **Top Industries by 5-Day Average**: - **Steel**: Large Order Ratio 79.0% (79.1% percentile), Net Active Buy Ratio 12.7% (0.8% percentile)[13] - **Agriculture, Forestry, Animal Husbandry, and Fishery**: Large Order Ratio 77.1% (87.7% percentile), Net Active Buy Ratio 10.8% (3.3% percentile)[13] - **Food and Beverage**: Large Order Ratio 71.5% (95.5% percentile), Net Active Buy Ratio 10.1% (32.8% percentile)[13] - **Real Estate**: Large Order Ratio 78.7% (70.9% percentile), Net Active Buy Ratio 8.8% (9.8% percentile)[13] - **Consumer Services**: Large Order Ratio 75.8% (32.4% percentile), Net Active Buy Ratio 8.9% (13.9% percentile)[13] 5. ETF Analysis - **Top 10 ETFs by Large Order Ratio**: - **Haifutong Shanghai Urban Investment Bond ETF (511220.SH)**: 93.4%, 63.5% percentile[15] - **Fortune Military Industry ETF (512710.SH)**: 92.1%, 100.0% percentile[15] - **Guotai CSI A500 ETF (159338.SZ)**: 91.5%, 19.7% percentile[15] - **Guotai 10-Year Treasury ETF (511260.SH)**: 91.5%, 91.8% percentile[15] - **Penghua National Defense ETF (512670.SH)**: 90.7%, 99.6% percentile[15] - **Top 10 ETFs by Net Active Buy Ratio**: - **Huaxia Food and Beverage ETF (515170.SH)**: 18.2%, 99.6% percentile[16] - **Yinhua 5G Communication ETF (159994.SZ)**: 16.7%, 100.0% percentile[16] - **E Fund CSI 300 Non-Bank ETF (512070.SH)**: 16.0%, 95.9% percentile[16] - **Huatai-PineBridge Dividend Low Volatility ETF (512890.SH)**: 15.7%, 94.3% percentile[16] - **Fortune Agriculture ETF (159825.SZ)**: 15.2%, 96.7% percentile[16]

Summary of Key Points Core Viewpoint - On December 1, the industry-themed ETF funds experienced a net outflow of 2.217 billion yuan, with a cumulative net outflow of 21.43 billion yuan over the past five trading days, indicating a trend of capital withdrawal from these funds [1]. Fund Performance - A total of 66 industry-themed ETFs saw net inflows on December 1, with the Huabao Securities ETF (512000) leading the inflow, increasing by 330 million shares and a net inflow of 186 million yuan [1][3]. - Conversely, 141 industry-themed ETFs experienced net outflows, with the Guotai Zhongzheng All-Index Securities Company ETF (512880) having the largest outflow, decreasing by 501 million shares and a net outflow of 592 million yuan [1][4]. Top ETFs by Net Inflow - The top ETFs by net inflow on December 1 included: - Huabao Securities ETF (512000): 1.86 billion yuan net inflow, 701.77 million shares [3]. - Guotai Zhongzheng All-Index Communication Equipment ETF (515880): 1.72 billion yuan net inflow, 42.93 million shares [3]. - Other notable inflows included the China Merchants Zhongzheng Battery Theme ETF (561910) and the Southern Zhongzheng Shenwan Nonferrous Metals ETF (512400) [3]. Top ETFs by Net Outflow - The top ETFs by net outflow on December 1 included: - Guotai Zhongzheng All-Index Securities Company ETF (512880): 5.92 billion yuan net outflow, 499.03 million shares [4][5]. - Huabao Zhongzheng Bank ETF (512800): 4.35 billion yuan net outflow, 213.76 million shares [5]. - Other significant outflows were seen in the Guolian An Zhongzheng Semiconductor ETF (512480) and the Yongying Zhongzheng Hong Kong Gold Industry ETF (517520) [5].

Market Overview - The Shanghai Composite Index rose by 0.05% to close at 3836.77 points, with a daily high of 3854.33 points [1] - The Shenzhen Component Index increased by 0.37% to close at 12585.08 points, reaching a high of 12655.29 points [1] - The ChiNext Index gained 0.31%, closing at 2929.04 points, with a peak of 2951.43 points [1] ETF Market Performance - The median return of stock ETFs was 0.2%, with the highest return from the Penghua SSE Sci-Tech Innovation Board 200 ETF at 3.01% [2] - The highest performing industry ETF was the China Securities Satellite Industry ETF, yielding 4.25% [2] - The highest return among thematic ETFs was the China Securities Aerospace Industry ETF, which achieved 5.01% [2] ETF Gain and Loss Rankings - The top three ETFs by gain were: - Huaxia China Securities Aerospace Industry ETF (5.01%) - Tianhong China Securities Aerospace Industry ETF (4.66%) - Wanji China Securities Aerospace Industry ETF (4.64%) [4] - The top three ETFs by loss were: - Xingyin SSE Sci-Tech Innovation Board Comprehensive Price ETF (-2.14%) - Huaxia China Securities Sci-Tech Innovation 50 ETF (-1.88%) - Jiashi China Securities Rare Metals Thematic ETF (-1.68%) [4] ETF Fund Flow - The top three ETFs by fund inflow were: - Huatai-PB SSE 300 ETF (inflow of 3.665 billion yuan) - Huaxia SSE 50 ETF (inflow of 1.53 billion yuan) - Southern CSI 500 ETF (inflow of 895 million yuan) [6] - The top three ETFs by fund outflow were: - Huabao CSI Bank ETF (outflow of 211 million yuan) - Fuguo CSI Military Industry Leaders ETF (outflow of 209 million yuan) - Guotai CSI Coal ETF (outflow of 207 million yuan) [6] ETF Margin Trading Overview - The highest margin buy amounts were for: - Huaxia SSE Sci-Tech Innovation 50 ETF (593 million yuan) - E Fund ChiNext ETF (440 million yuan) - Guotai CSI All-Share Securities Company ETF (415 million yuan) [8] - The highest margin sell amounts were for: - Huatai-PB SSE 300 ETF (34.95 million yuan) - Southern CSI 500 ETF (7.56 million yuan) - Huaxia SSE 50 ETF (3.97 million yuan) [9] Institutional Insights - Shenwan Hongyuan expects strong resonance between demand and supply in China's military trade, driven by expanding global military trade demand and enhanced product capabilities [10] - Debon Securities highlights a historic opportunity for the commercial aerospace industry, transitioning from manufacturing to application, with significant growth in low-orbit satellite demand [11]

Summary of Key Points Core Viewpoint - On August 13, the industry-themed ETF funds experienced a net outflow of 30.37 billion yuan, with a cumulative net outflow of 29.97 billion yuan over the past five trading days, indicating a trend of capital withdrawal from these funds [1]. ETF Fund Performance - A total of 122 industry-themed ETFs saw net inflows, with the Penghua Zhongzheng Liquor ETF (512690) leading with an increase of 10.8 million shares and a net inflow of 6.27 billion yuan [1][3]. - Conversely, 295 industry-themed ETFs experienced net outflows, with the Guotai Zhongzheng Military Industry ETF (512660) showing the largest outflow of 6.22 billion yuan and a reduction of 5.0 million shares [1][4]. Top Performing ETFs - The top ETFs with net inflows included: - Penghua Zhongzheng Liquor ETF (512690): 6.27 billion yuan net inflow, 10.8 million shares increase [3][5]. - Guotai Zhongzheng All-Index Communication Equipment ETF (515880): 4.61 billion yuan net inflow, 2.37 million shares increase [3]. - Guotai Zhongzheng Coal ETF (515220): 3.64 billion yuan net inflow, 3.31 million shares increase [3]. ETFs with Significant Outflows - The top ETFs with net outflows included: - Guotai Zhongzheng Military Industry ETF (512660): 6.22 billion yuan net outflow, 5.0 million shares decrease [4][5]. - Guolian An Zhongzheng Semiconductor ETF (512480): 4.63 billion yuan net outflow, 4.14 million shares decrease [4][5]. - Fuguo Zhongzheng Military Industry Leader ETF (512710): 4.30 billion yuan net outflow, 5.98 million shares decrease [4][5].

Core Viewpoint - Beimo High-Tech has experienced a decline in stock price over four consecutive trading days, with a cumulative drop of -2.91% [1] Company Overview - Beijing Beimo High-Tech Material Co., Ltd. is a specialized manufacturer of brake systems for civil and military aircraft, as well as ground equipment, and is recognized as a national high-tech enterprise [1] - The company is a designated research and production unit for the equipment development department of the Central Military Commission of the People's Liberation Army [1] Financial Performance - The report indicates that the Fuguo Fund's Fuguo Zhongzheng Military Industry Leader ETF has increased its holdings in Beimo High-Tech, ranking among the top ten shareholders [1] - The ETF has achieved a year-to-date return of 17.06%, ranking 830 out of 3421 in its category [2] Fund Management - The fund managers for the Fuguo Zhongzheng Military Industry Leader ETF are Wang Lele and Niu Zhidong [4] - Wang Lele has over ten years of experience in the investment industry and has held various positions within Fuguo Fund since 2015 [5][6] - Niu Zhidong has also been with Fuguo Fund since 2010, serving in multiple roles related to quantitative investment [6][8] Fund Performance Metrics - The ETF has shown a performance increase of 1.18% over the past week, 7.68% over the past month, and 18.28% over the past three months [2] - The year-to-date performance of the ETF is 17.06%, which is significantly higher than the average of its peers at 12.66% [2]