注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不 预示未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参 考，不构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险 等级相匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 天风证券指出，我国资产管理和财富管理服务需求潜力巨大，当前居民资产中股票基金等占比约 15%，相当于美国30年前水平，未来居民侧有望为市场提供持续增量资金。资本市场方面，A股"科技叙 事"逻辑清晰，险资有望持续加配高股息资产，看好"科技+高股息"的中国"股市叙事"持续演绎。 科创综指ETF国泰（589630）跟踪的是科创综指（000680），单日涨跌幅达20%，该指数覆盖科创 板97%的上市公司，成分股数量达560余只，涵盖电子、医药生物等硬科技领域。科创综指行业配置均 衡，旨在反映科创板整体表现，尤其注重科技创新企业的成长性和创新性。 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性 ...

每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 中泰证券指出，本周市场交易热点集中在科技板块，半导体与国产算力板块走势较强。摩尔线程在 科创板上市首日暴涨468%，市值一度突破3000亿，其赚钱效应激活了半导体产业链，带动算力龙头的 估值重塑，并引爆光刻机、先进封装等上下游板块。随着中央经济工作会议临近，政策信号或集中于结 构优化与稳定增长主线，科技链核心方向（如机器人、存储、消费电子等）有望受益于流动性改善与风 险偏好回升。 科创综指ETF国泰（589630）跟踪的是科创综指（000680），单日涨跌幅达20%，该指数反映上海 证券交易所科创板市场整体表现，涵盖科创板上市的所有股票。指数成分股主要集中在新一代信息技 术、生物医药、新材料、新能源等高新技术产业和战略性新兴产业，充分体现创新成长风格。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表 ...

中泰证券指出，当前市场交易热点集中在科技板块，半导体与国产算力板块走势较强。摩尔线程在 科创板上市首日暴涨，带动半导体产业链估值重塑，并引爆光刻机、先进封装等上下游板块。随着中央 经济工作会议临近，政策信号或集中于结构优化与稳定增长主线，科技链核心方向（如机器人、存储、 消费电子等）有望受益于流动性改善与风险偏好回升。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 科创综指ETF国泰（589630）跟踪的是科创综指（000680），单日涨跌幅达20%，该指数由科创板 中符合条件的所有上市公司证券组成，覆盖广泛市值范围，以反映科创板证券的整体表现。指数行业分 布均衡，重点涵盖电子、医药生物、机械设备等"硬科技"领域，充分体现科创板高成长性和科技创新的 核心特征。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不 预示未来表现。市场 ...

Group 1 - The core viewpoint is that the focus on technological innovation has been increasing, driven by policy guidance and technological breakthroughs, leading to significant expansion in the primary market for technology-related funds [1] - National-level guiding funds and market-oriented VC/PE are increasingly investing in hard technology and AI, with steady growth in fundraising scale and the number of funds [1] - Investment is shifting towards early and mid-stage projects, with exit channels being broadened through mechanisms like science and technology innovation bonds, S funds, and physical stock distribution, enhancing capital turnover efficiency [1] Group 2 - The Guotai ETF (589630) tracks the Science and Technology Innovation Index (000680), with a single-day fluctuation exceeding 20%, reflecting the overall performance of the Sci-Tech Innovation Board [1] - The index comprises stocks from technology innovation enterprises, covering high-growth emerging industries such as information technology, biomedicine, and high-end equipment manufacturing, highlighting the core characteristics of R&D intensity and high technical barriers [1]

Group 1 - The technology sector is showing a high-low characteristic, with power equipment maintaining an upward trend and strong performance in wind and solar energy [1] - The net redemption of the Sci-Tech Innovation Board ETF and the ChiNext ETF has stabilized, indicating confidence in the rising valuation space of technology and a willingness to hold stocks for potential gains [1] - Leading technology stocks are slightly weakened due to the pullback in the Nasdaq, but their valuation resilience may gradually emerge with the rebound in US stocks [1] Group 2 - The year-on-year decline in August PPI has narrowed, alleviating the downward pressure on industrial product prices [1] - Policy signals are being released to "stabilize expectations," reinforcing support for the stock market, with structural opportunities still present in the technology sector under policy and valuation support [1] - In the medium to long term, the main line of technological innovation, such as consumer electronics and robotics, has growth potential against the backdrop of policy and industrial upgrades [1] Group 3 - The Guotai Sci-Tech Innovation Index ETF (589630) tracks the Sci-Tech Innovation Index (000680), with a price fluctuation limit of 20%, covering all listed companies on the Sci-Tech Innovation Board that meet the criteria [1] - The index has a market capitalization coverage of nearly 97%, including large, medium, and small-cap securities, reflecting a balanced structure [1] - The constituent stocks of the index are characterized by high R&D investment and strong growth attributes, primarily distributed across information technology, industry, and healthcare [1]

Group 1 - The core viewpoint indicates that the Science and Technology Innovation Index (科创综指) is performing well among major broad-based indices, with a strong possibility of a second wave of upward movement in the medium term due to current market enthusiasm [1] - The expectation of interest rate cuts by the Federal Reserve is beneficial for stabilizing and repairing the A-share market, suggesting limited adjustment pressure and strong buying intent from investors [1] - The Science and Technology Innovation Index ETF by Guotai (国泰) tracks the Science and Technology Innovation Index, which reflects the overall performance of the STAR Market in Shanghai, covering a wide sample of listed companies primarily in the power equipment, machinery manufacturing, and pharmaceutical sectors [1] Group 2 - Investors without stock accounts can consider Guotai's STAR Market Comprehensive ETF Linked A (023733) and Linked C (023734) as alternative investment options [1]

Core Insights - The "Deep Integration of Technological Innovation and Industrial Innovation" topic was launched by the Chinese Academy of Sciences on May 27, 2025, aiming to explore strategic directions and countermeasures for integrated development, providing theoretical support for new productive forces [1] - The "Innovation and Entrepreneurship Investment Conference" showcased over 50 cutting-edge achievements, promoting industry connections [1] Industry Analysis - According to招商证券, the performance of the Sci-Tech Innovation Index-related industries showed divergence in May, with a high proportion of loss-making companies in the software development and technology sectors, indicating significant capacity clearing pressure [1] - In terms of economic conditions, the export value of integrated circuits in the information technology sector saw an expanded year-on-year growth, while the growth rate of LCD shipments slowed down [1] - Profitability forecasts suggest that in June, improvements in earnings for companies in the Sci-Tech sector may be concentrated in the TMT manufacturing segments [1] - The upgrade of Google's AI ecosystem is driving technological iterations, with innovative products like AI video generation tool Veo 3 and image tool Imagen 4 potentially catalyzing the Sci-Tech industry chain [1] - Industry allocation should pay attention to external tariff uncertainties and focus on layouts around the theme of self-control [1] Investment Products - The Guotai Sci-Tech Innovation Index ETF (589630) tracks the Sci-Tech Innovation Index (000680), which is published by the Shanghai Stock Exchange and aims to reflect the overall market performance of the Sci-Tech board, primarily focusing on small and mid-cap companies in early innovation stages [1]