投顾发展 | 投顾晨报 反弹高度受限，调仓注重赔率 朝闻道 20251128 市场策略 反弹高度受限，调仓注重赔率 风格策略 科技成长反弹承压，消费制造赔率较高 行业策略 食品饮料：短期看赔率，中期找业绩 主题策略 机器人："实干派"机器人率先出圈 风险提示 全球地缘政治的不确定性、宏观经济波动导致投资不及预期、消费需求低于预期、机器人量产不及预期等 风险 报告发布日期 2025 年 11 月 27 日 陈寒梅 执业证书编号：S0860525100003 chenhanmei@orientsec.com.cn 021-63326320 | 反弹不改震荡格局，继续逢低布局：朝闻 | 2025-11-25 | | --- | --- | | 道 20251126 | | | 防守策略生效，布局窗口将现：朝闻道 | 2025-11-23 | | 20251124 | | | 震荡依旧，逢低布局：朝闻道 20251121 | 2025-11-20 | 有关分析师的申明，见本报告最后部分。其他重要信息披露见分析师申明之后部分，或请与您的投资代表联系。并请阅读本证券研究报告最后一页的免责申明。 8 ⚫ 近期全球股市经历了 ...

Core Viewpoint - The performance of various ETFs on September 25 shows significant fluctuations, with the smart connected vehicle ETF leading the gains, while several others, particularly in the semiconductor and consumer sectors, experienced declines [1]. Group 1: ETF Performance - The smart connected vehicle ETF (159872) increased by 10.02% [1] - The oil and gas resources ETF (159309) rose by 8.86% [1] - The oil and gas resources ETF (563150) saw a gain of 4.96% [1] - The communication ETF from GF (159507) decreased by 3.0% [1] - The semiconductor equipment ETF (561980) fell by 2.53% [1] - The consumer ETF for Shanghai-Hong Kong-Shenzhen (517550) dropped by 2.03% [1]

Group 1 - The ETF market opened with mixed performance, with the Hang Seng Internet Technology ETF (159202) leading the gains at 2.54% [1] - The Consumption ETF for Shanghai-Hong Kong-Shenzhen (517550) increased by 1.59% [1] - The Saudi ETF (159329) rose by 1.11% [1] Group 2 - The Oil and Gas Resources ETF (159309) experienced the largest decline, falling by 1.08% [1] - The Oil and Gas ETF from Bosera (561760) decreased by 1.02% [1] - The Oil and Gas Resources ETF (563150) dropped by 0.92% [1]