继昨日上探历史新高，今日（8月26日）港股科网板块震荡盘整，重仓港股互联网龙头的港股互联网 ETF（513770）早盘低开震荡，午前发力翻红，场内价格现涨0.16%，实时成交额近5亿元，交投活 跃。 科网龙头走势分化，截至发稿，昨日领涨逾5%的阿里巴巴-W回调下跌1%，美团-W跌0.8%，快手-W、 腾讯控股、小米集团-W飘红。此外，美图公司、商汤-W、同程旅行涨幅居前。 值得注意的是，港股互联网ETF（513770）盘中持续宽幅溢价，实时溢价率达0.5%，显示买盘资金态 度积极。 | 序号 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 1357 4 | 美图公司 | | 11.360 | 0.730 | 6.87% | | 2 | 0020 | 商汤-W | | 1.960 | 0.070 | 3.70% | | 3 | 1860 | 汇量科技 | | 13.410 | 0.390 | 3.00% | | 4 | 0780 | 同程旅行 | | 21.920 | 0.580 | 2.72 ...

8月25日，港股开盘走强，恒指、恒科指均涨逾1%，科网龙头延续强势，快手-W、阿里巴巴-W涨超 2%，腾讯控股、美团-W涨逾1%，重仓港股互联网龙头的港股互联网ETF（513770）跳空高开，场内价 格一度涨逾2%，现涨1．95%。 | 分时 多日 1分 5分 · | | | | | F9 盘前盘后 酷加 九轮 面线 工川 @ 2 > | | | | | | 港股互联网ETF ① | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1.213 A | | | | 513770[湘霞互联网ETF] 09:39 � 1.205 游戏 0.023(1.95%) #8% 2.88% @ | | | 1.202 | 1.202 +0.023 +1.95% | | | | | CAPTED A | | | 1.196 | | | | | | | A R B R DIE | SSE CNY 9:39:54 交易中 | | | | | T40 R W OF | | | 1.1 ...

值得关注的是，近期港股互联网ETF（513770）资金面持续升温，上交所数据显示，港股互联网ETF （513770）最新单日获资金净流入2.35亿元，近5日资金连续净流入4.18亿元。 港股互联网ETF（513770）及其联接基金（A类 017125；C类 017126）被动跟踪中证港股通互联网指 数，通过重仓港股互联网龙头，成为港股AI核心标的。数据显示，开年以来至7月末，中证港股通互联 网指数累计涨幅超35%，明显优于恒科指同期表现，领涨弹性突出。 8月22日，港股科网龙头走势较强，快手-W绩后领涨4%，小米集团-W涨超2%，腾讯控股重上600港 元，阿里巴巴-W跟涨。重仓港股互联网龙头的港股互联网ETF（513770）高开高走，场内价格现涨 1.29%，实时成交额1.8亿元。 | 分时 多日 ▼ | | | | F9 鼎前盘后 叠加 九转 画线 工具 @ 2 >> | | | | | | | 港股互联网ETF 2 买 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1183 | | ...

8月22日，港股科网龙头走势较强，快手-W绩后领涨4%，小米集团-W涨超2%，腾讯控股重上600港元，阿里巴巴-W跟涨。重仓港股互联网龙头的港股互联 网ETF（513770）高开高走，场内价格现涨1.29%，实时成交额1.8亿元。 | 分时 多日 ** | | | | | F9 盘前盘后 桑加 九转 画线 丁目 © 2 » | | | | | 港股互联 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1.183 | | | 513770 港股互联网ETF] 10:19 价 1.180 涨跌 0.015(1.2. | | | A .. . | | 1.180 +0.015 +1.29% | | | | | 1.174 | | | | | | 1.180 0.77% | | SSE CNY 10:19:27 交易中 | | | | | | | | | | | | | 净值走势 华宝中证港股通互联网 | | 文主 38.99% | | | 1.165 | | | | | | 0.00% | 变比 | 22 ...

Group 1 - The core viewpoint of the articles highlights the strong performance of Hong Kong's internet sector, particularly after the earnings reports from major companies like Kuaishou, Xiaomi, Tencent, and Alibaba, which have positively influenced the market [1][3][5] - Kuaishou reported a Q2 revenue of 35 billion yuan, a year-on-year increase of 13.1%, and an adjusted net profit of 5.6 billion yuan, exceeding market expectations [3][6] - Bilibili's Q2 revenue reached 7.34 billion yuan, marking a 20% year-on-year growth, with both net profit and adjusted net profit hitting historical highs [3][6] Group 2 - The Hong Kong Internet ETF (513770) has seen significant inflows, with a net inflow of 235 million yuan in a single day and a total of 418 million yuan over the past five days, indicating strong investor interest [3][5] - The index that the ETF tracks has outperformed the Hang Seng Tech Index, with a cumulative increase of over 35% since the beginning of the year [5][6] - The top four holdings in the Hong Kong Internet ETF are Xiaomi, Tencent, Alibaba, and Meituan, which together account for 54.74% of the fund's total weight [6][7]

Market Overview - The Shanghai Composite Index briefly surpassed 3700 points, reaching a new high for the period, with significant gains in sectors such as digital currency, semiconductors, insurance, and brokerage [1] - As of the latest data, the Shanghai Composite Index was at 3690.88, up 0.20%, with a trading volume of 3.92 billion shares and a total transaction value of 597.99 billion [2] Company Performance - Cambrian Biologics saw a substantial increase of over 12%, with its stock price surpassing 940 yuan, approaching a market capitalization of nearly 400 billion yuan, making it the second-largest company by market cap on the STAR Market, following SMIC [2] Market Sentiment - There is a noticeable divergence in market sentiment, with some investors feeling left out as the index rises, while others express optimism about the market's potential [4][5] - Short-term outlook suggests that after the recent breakthrough, the Shanghai Composite Index may need to consolidate before further upward movement, as the influx of new capital may not be sufficient to drive the index higher immediately [6] Economic Indicators - Recent economic data, including July's import and export figures, CPI, and PPI, remained within expected ranges, indicating no significant surprises [7] - The global AI sector's capital expenditure is expected to grow, albeit modestly, amidst a broader trend of reduced spending across industries [7] Investment Strategies - The domestic economic data suggests resilience despite a slowdown, which may support continued risk appetite in the stock market [7] - The probability of a Federal Reserve rate cut in September has risen to over 90%, driven by weak U.S. economic data, which could enhance global liquidity and positively impact technology stocks in Hong Kong [10] Sector Focus - Investment strategies are focusing on sectors such as AI and financial technology, with specific ETFs highlighted for their potential in the current market environment [13] - The semiconductor sector is expected to benefit from ongoing demand for AI applications, with domestic manufacturers likely to gain from the industry's growth [16]

Group 1 - The Nasdaq Golden Dragon China Index rose by 2.08%, with Tencent's ADR increasing by 7.4%, reaching a market capitalization of $700 billion [1] - Tencent reported Q2 revenue of 184.5 billion yuan, a 15% year-over-year increase, exceeding the forecast of 178.9 billion yuan; net profit for the same period was 55.63 billion yuan, up 17% year-over-year, also surpassing expectations [1] - The Hong Kong Internet ETF (513770) opened higher, reflecting strong performance in major internet stocks, with a 1.7% intraday increase [1] Group 2 - The Hong Kong Internet ETF (513770) tracks the CSI Hong Kong Internet Index and has shown a cumulative increase of over 35% from the beginning of the year to the end of July, outperforming the Hang Seng Tech Index [2][3] - As of the end of Q2, the top four holdings in the Hong Kong Internet ETF were Xiaomi, Tencent, Alibaba, and Meituan, accounting for 54.74% of the total weight [3][4] - The average daily trading volume of the Hong Kong Internet ETF was 593 million yuan, indicating good liquidity and support for intraday T+0 trading [4]

Market Overview - The Shanghai Composite Index has strongly broken through the previous high of 3674 from the "924 market" on August 13, indicating a potential need for a pullback to confirm this breakout [2] - Short-term upward movement of the index may be limited due to insufficient marginal capital to drive significant increases [2] - Market volatility has increased, but the medium-term outlook remains optimistic [2] Market Review - During the week of August 4-8, 2025, small-cap stocks continued to reach new highs for the year, with strong rebounds following dips in the large-cap index [4] - Retail investor participation has become more evident, while growth sectors like technology and pharmaceuticals showed relatively weak performance [4] - There is significant differentiation within growth and value sectors, with large-cap stocks showing fatigue and small-cap stocks demonstrating strong capital absorption [4] Key Drivers of Index Performance - No significant changes in the fundamental landscape, with July's import and export data, CPI, and PPI remaining within expected ranges [6] - Increased risk appetite is supporting small-cap growth, with high levels of margin financing reflecting retail investor entry [6] - Internal policies are actively promoting measures against excessive competition and encouraging birth policies, while external factors include ongoing tariff battles led by Trump [6] Investment Strategy - Domestic economic data indicates resilience despite a slowdown, benefiting market risk appetite [8] - Internationally, the appointment of temporary Fed governors by Trump may maintain favorable liquidity conditions if upcoming CPI data meets expectations [8] Hot Topics - The financial technology ETF has reached a scale of 25 billion yuan as of August 8, 2025, indicating strong interest in this sector [10] - Various ETFs are highlighted for their potential in the current market, including those focused on AI and financial technology [11]

Core Insights - Hua Bao Fund's equity ETF assets have surpassed 100 billion yuan, reaching 100.84 billion yuan, marking a new high [1] - The company has received multiple industry awards for its performance in the ETF sector, including the "Gold Fund - Passive Investment Fund Management Company Award" for three consecutive years from 2021 to 2023 [1][7] ETF Product Development - Hua Bao Fund has strategically developed ETFs in key sectors such as artificial intelligence, information technology, new energy, high-end equipment, biomedicine, and new materials to support strategic emerging industries [2] - The fund has established a diversified "hard technology" ETF product matrix, including core products like the Medical ETF (512170), Hong Kong Internet ETF (513770), Financial Technology ETF (159851), and others [2] High Dividend ETF Family - The "High Dividend ETF Family" has gained significant scale, featuring the largest bank ETF (512800) in the market, along with other products like the Hong Kong Dividend ETF (159220) and the S&P Dividend ETF (562060) [3] - Hua Bao Fund has successfully created a collection of mainstream broad-based index ETFs, including the A50 ETF, A100 ETF, and A500 ETF, making it one of the few fund companies with this complete set [3] Recent Innovations - Recent launches include the first "Chuangye Ban Artificial Intelligence ETF" and the "General Aviation ETF," among others, highlighting the company's commitment to innovation in the ETF space [2][3]

Group 1 - The Hong Kong stock market continues to strengthen, with the Hang Seng Index and Hang Seng Tech Index both rising over 1% [1] - The technology sector leads the gains, with notable increases in stocks such as Bilibili-W (+4%), Alibaba-W (+3%), and Kuaishou-W (+2%) [1] - The Hong Kong Internet ETF (513770) saw an intraday price increase of over 2%, closing up 1.61% [1] Group 2 - The Hong Kong Innovation Drug ETF (520880) experienced fluctuations but ultimately closed up 0.61%, marking its eighth consecutive day of gains since July 9 [1][6] - The ETF focuses on the innovative drug industry, with the top ten constituent stocks accounting for 75.85% of its weight [6] - The Hong Kong Innovation Drug sector has shown strong performance, with the index rising 58.95% [6][7] Group 3 - Analysts from Guotai Junan Securities highlight that scarce assets in the Hong Kong market are concentrated in sectors like internet, new consumption, and innovative drugs [4] - Industrial growth in technology and new consumption is emphasized as a key focus for investors, particularly in AI and innovative drugs [4] - The Hong Kong Internet ETF has significantly outperformed the Hang Seng Index, with a cumulative increase of over 28% since the start of the current market rally [4][5]