公募基金方面，本期较上一季度新披露的公募基金共计2个，包括南方中证500ETF、苏新中证500指数 增强A。本期较上一季未再披露的公募基金共计5个，包括南方中证1000ETF、华夏中证1000ETF、广发 中证1000ETF、长城久恒混合A、易方达中证1000ETF联接A。 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 比小幅下跌。本期较上一季度新披露的外资机构有 1 家 ，即高盛国际-自有资金。 2025年8月27日，深圳华强(000062.SZ)发布2025年半年度报告。截至2025年8月26日，共有10个机构投 资者披露持有深圳华强A股股份，合计持股量达7.54亿股，占深圳华强总股本的72.13%。其中，前十大 机构投资者包括深圳华强集团有限公司、华强集团-金圆统一证券-25华强E2担保及信托财产专户、华强 集团-金圆统一证券-23华强E2担保及信托财产专户、华强集团-中信建投证券-23华强E1担保及信托财产 专户、华强集团-金圆统一证券-25华强E1担保及信托财产专户、中央汇金资产管理有限责任公司、中国 农业银行股份有限公司-中证500交易型开放式指数证券 ...

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1.84%。本期较上一季未再披露的外资机构包括UBS AG、MORGAN STANLEY & CO. INTERNATIONAL PLC.。 公募基金方面，本期较上一季度新披露的公募基金共计10个，主要包括国泰中证军工ETF、南方中证 1000ETF、华夏中证1000ETF、广发中证1000ETF、广发中证军工ETF等。本期较上一季未再披露的公 募基金共计1个，即泰信双息双利债券C。 2025年8月27日，天海防务(300008.SZ)发布2025年半年度报告。截至2025年8月26日，共有15个机构投 资者披露持有天海防务A股股份，合计持股量达3.89亿股，占天海防务总股本的22.53%。其中，前十大 机构投资者包括厦门隆海重能投资合伙企业(有限合伙)、中国长城资产管理股份有限公司、中国建设银 行股份有限公司-国泰中证军工交易型开放式指数证券投资基金、上海佳船企业发展有限公司、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、泰州市金洋源投资中心(有限合伙)、招 商银行股份有限公司-华夏中证1 ...

2025年8月27日，海南矿业(601969.SH)发布2025年半年度报告。截至2025年8月26日，共有6个机构投资 者披露持有海南矿业A股股份，合计持股量达15.69亿股，占海南矿业总股本的78.51%。其中，机构投 资者包括上海复星高科技(集团)有限公司、海南海钢集团有限公司、香港中央结算有限公司、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、招商银行股份有限公司-华夏中证1000交 易型开放式指数证券投资基金、中国工商银行股份有限公司-广发中证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78.51%。相较于上一季度，机构持股比例合计上涨了0.20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，即南方中证1000ETF，持股增加占比小幅 上涨。本期较上一季度新披露的公募基金共计2个，包括华夏中证1000ETF、广发中证1000ETF。本期 较上一季未再披露的公募基金共计1个，即国泰中证钢铁ETF。 ...

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 比小幅下跌。 公募基金方面，本期较上一期持股增加的公募基金共计3个，包括西部利得事件驱动股票A、汇泉臻心 致远混合A、东吴双三角股票A，持股增加占比小幅上涨。本期较上一季度新披露的公募基金共计3个， 包括南方中证1000ETF、华夏中证1000ETF、广发中证1000ETF。本期较上一季未再披露的公募基金共 计3个，包括西部利得时代动力混合发起A、华商卓越成长一年持有混合A、格林聚利增强一个月持有期 债券A。 2025年8月27日，慧翰股份(301600.SZ)发布2025年半年度报告。截至2025年8月26日，共有12个机构投 资者披露持有慧翰股份A股股份，合计持股量达4239.33万股，占慧翰股份总股本的40.56%。其中，前 十大机构投资者包括福建国脉集团有限公司、宜宾晨道新能源产业股权投资合伙企业(有限合伙)、上海 上汽创业投资中心(有限合伙)、福州开发区国有资产营运有限公司、宁波梅山保税港区超兴创业投资合 伙企业(有限合伙)、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、香港中央结 算有 ...

统计显示，中证1000指数ETF今日合计成交额41.78亿元，环比上一交易日增加12.83亿元，环比增幅为 44.34%。 具体来看，南方中证1000ETF（512100）今日成交额26.03亿元，较上一交易日增加5.86亿元，环比增幅 为29.07%；华夏中证1000ETF（159845）今日成交额5.72亿元，较上一交易日增加2.51亿元，环比增幅 为77.91%；富国中证1000ETF（159629）今日成交额4.01亿元，较上一交易日增加2.00亿元，环比增幅 为98.83%。 | 基金代码 | 基金简称 | 今日涨跌幅 | 今日成交额 | 较上一交易日增加 | 环比增幅 | | --- | --- | --- | --- | --- | --- | | 512100 | 南方中证1000ETF | 1.46% | 26.03亿元 | 5.86亿元 | 29.07% | | 159845 | 华夏中证1000ETF | 1.67% | 5.72亿元 | 2.51亿元 | 77.91% | | 159629 | 富国中证1000ETF | 1.82% | 4.01亿元 | 2.00亿元 | 98.83% ...

Core Viewpoint - The "national team," represented by Central Huijin, significantly increased its holdings in various ETFs during the second quarter, totaling over 220 billion yuan, which helped stabilize the market amid global volatility caused by U.S. tariff policies [1][4]. Group 1: Investment Actions - Central Huijin increased its holdings in 10 major ETFs, including the CSI 300 ETF and the SSE 50 ETF, with a total investment exceeding 220 billion yuan based on average transaction prices for the second quarter [1][3]. - Specific increases included 108.74 million units in the Huatai-PineBridge CSI 300 ETF and 84.29 million units in the E Fund CSI 300 ETF, among others, indicating a strong commitment to these products [2][3]. - The total increase in holdings during the second quarter was lower than the 300 billion yuan seen in the first quarter but still significantly higher than the same period in 2023 [3]. Group 2: Market Impact - The actions of the "national team" were crucial in restoring market confidence, leading to a rebound in the A-share market, with the Shanghai Composite Index reaching a new high for the year [5]. - Analysts noted that the entry of long-term funds, represented by the "national team," acted as a stabilizing force in the market, enhancing the stability of A-shares [5]. Group 3: Future Outlook - The continuation of the "national team's" buying strategy will depend on improvements in the policy and external environment, as well as the stock market maintaining reasonable valuation levels [6].

Core Viewpoint - The "national team" has significantly increased its investment in ETFs and equity assets, with an estimated total investment exceeding 207 billion yuan in the first half of the year, reflecting a strategic response to market volatility and a focus on structural opportunities [2][3][5]. Group 1: National Team's Investment Actions - In April, amidst increased volatility in the A-share market, the "national team" including Central Huijin and China Reform Holdings began to increase their holdings in ETFs and other equity assets [3]. - Central Huijin Asset Management has become the largest institutional investor in the Huatai-PineBridge CSI 300 ETF, increasing its holdings from 26.62 billion shares at the end of last year to 37.86 billion shares, representing a rise in shareholding ratio from 29.78% to 40.26% [3][4]. - The total estimated investment by the "national team" in ETFs for the first half of the year reached approximately 207.27 billion yuan, with significant contributions from various ETFs [5][6]. Group 2: Fund Managers' Adjustments - In the second quarter, over 57% of active equity funds increased their stock positions, with some funds raising their equity allocation by more than 30% [8]. - Notable fund managers like Zhang Kun have adjusted their portfolios, increasing their holdings in liquor stocks despite a general reduction in the food and beverage sector [9]. - Liu Gesong has focused on increasing allocations to Hong Kong stocks and non-bank financials, with significant investments in companies like Xiaomi and New Oriental Education [9]. Group 3: Sector Focus and Trends - The innovative drug sector has seen increased interest from fund managers, with significant allocations to companies involved in cutting-edge technologies and international collaborations [10]. - Fund managers are optimistic about the potential for domestic innovative drugs to gain international recognition and market share, driven by ongoing clinical trials and partnerships with multinational pharmaceutical companies [10].

Core Viewpoint - The "national team" has significantly increased its investment in ETFs and equity assets, with an estimated total investment exceeding 207 billion yuan in the first half of the year, reflecting a strategic move to stabilize the A-share market amid increased volatility [1][2][4]. Group 1: National Team's Investment Actions - In response to market fluctuations, the central financial institutions, including Central Huijin and China Guoxin, have actively increased their holdings in ETFs and other equity assets since April [2][3]. - Central Huijin Asset Management has become the largest institutional investor in the Huatai-PB CSI 300 ETF, increasing its holdings from 26.62 billion shares at the end of last year to 37.86 billion shares, raising its shareholding ratio from 29.78% to 40.26% [2][3]. - The total investment in ETFs by the national team in the first half of the year reached approximately 207.27 billion yuan, with significant contributions from various ETFs, including Huatai-PB, China Southern, and E Fund [4][3]. Group 2: Fund Managers' Adjustments - In the second quarter, over 57% of active equity funds increased their stock positions, with some funds raising their equity exposure by more than 30% [5][6]. - Notable fund managers, such as Zhang Kun, have adjusted their portfolios by increasing holdings in liquor stocks despite a general market downturn in the food and beverage sector [6][7]. - Liu Gesong has focused on increasing allocations to Hong Kong stocks and non-bank financials, while fund manager Ge Lan has concentrated on innovative pharmaceuticals, reducing exposure to traditional Chinese medicine and medical devices [7][8]. Group 3: Focus on Innovative Pharmaceuticals - The innovative pharmaceutical sector has attracted significant interest from fund managers, with many increasing their stakes in leading companies within this field [8]. - Ge Lan highlighted the ongoing advancements in innovative drug technologies and the increasing collaboration between domestic companies and multinational pharmaceutical firms, indicating a positive outlook for the sector [8].

Summary of Key Points Core Viewpoint - The latest two markets' ETF margin balance reached 100.516 billion yuan, reflecting a week-on-week increase of 1.61% [1] Group 1: ETF Margin Balance Overview - As of July 21, the total ETF margin balance was 100.516 billion yuan, up by 1.61% from the previous trading day, with a financing balance of 94.782 billion yuan, which increased by 1.66% [1] - The Shenzhen market's ETF margin balance was 32.740 billion yuan, with a financing balance of 31.999 billion yuan, both showing a week-on-week increase of 1.62% [1] - The Shanghai market's ETF margin balance was 67.776 billion yuan, with a financing balance of 62.782 billion yuan, reflecting a week-on-week increase of 13.87 billion yuan [1] Group 2: Notable ETFs by Financing Balance - Among the ETFs, the highest financing balance was for Huaan Gold ETF at 7.550 billion yuan, followed by E Fund Gold ETF and Huaxia Hang Seng ETF at 6.629 billion yuan and 4.438 billion yuan respectively [2] - The top three ETFs with the highest week-on-week financing balance increase were Tianhong Shanghai Gold ETF (2531.24%), Haifutong Shanghai 10-Year Local Government Bond ETF (2134.22%), and CSI 300 ETF Yongying (858.92%) [2][3] Group 3: Margin Trading and Short Selling - The latest short selling balance for ETFs showed that the highest was for Southern CSI 1000 ETF, Southern CSI 500 ETF, and GF CSI 1000 ETF, with balances of 1.966 billion yuan, 1.581 billion yuan, and 342 million yuan respectively [5] - The short selling balance increased significantly for Southern CSI 500 ETF, Huatai-PB CSI 300 ETF, and Huaxia SSE 50 ETF, with increases of 28.118 million yuan, 13.3902 million yuan, and 5.0189 million yuan respectively [5][6] Group 4: Net Buying and Selling of ETFs - The top three ETFs with the highest net buying amounts were Fuguo 7-10 Year Policy Financial Bond ETF (566.50 million yuan), Guotai 5-Year Treasury Bond ETF (355.39 million yuan), and Haifutong City Investment Bond ETF (355.03 million yuan) [4][5] - The ETFs with the highest net selling amounts included Bosera Convertible Bond ETF (129 million yuan), Huatai-PB CSI 300 ETF (120 million yuan), and E Fund Gold ETF (49.17 million yuan) [4][5]

Central Huijin's Role in the Market - Central Huijin has played a significant role as a "stabilizer" in the capital market by increasing its holdings in major ETFs, with an estimated increase of over 200 billion yuan in Q2 [1][2][3] - The company has emphasized its commitment to maintaining market stability and will continue to act decisively when necessary [1][3] ETF Holdings and Increases - In Q2, Central Huijin Asset Management increased its holdings in various ETFs, including 84.29 million shares of E Fund CSI 300 ETF and 92.88 million shares of Huaxia CSI 300 ETF, among others [2][3] - The total scale of Central Huijin's holdings in the ten major ETFs rose from over 360 billion yuan at the end of last year to over 580 billion yuan in the first half of this year [3] Market Response and Confidence - Following external disturbances that affected the A-share market, Central Huijin and other state-owned entities announced their intention to increase ETF holdings, which significantly boosted market confidence [3][4] - On April 8, a record net inflow of nearly 100 billion yuan was observed in several ETFs, indicating strong market support [4] Asset Management Adjustments - Central Huijin has shown signs of portfolio adjustments in its asset management plans, with significant holdings in various ETFs [5][6] - The company has been actively managing its investments, including reducing holdings in certain ETFs while increasing others [5][6]