中证稀土产业指数选取涉及稀土开采、稀土加工、稀土贸易和稀土应用等业务相关上市公司证券作为样本，以反映稀土产业 上市公司证券的整体表现。 稀土概念股午后走低，卧龙电驱跌10%，领益智造跌超7%，北方稀土、盛和资源跌超2%。 受盘面影响，跟踪中证稀土产业指数的ETF跌超2%。 | 代码 | 名称 | 现价 | | 涨跌 涨跌幅 ▲ | | --- | --- | --- | --- | --- | | 516150 | 稀土ETF嘉实 | 1.586 | -0.040 | -2.46% | | 516780 | 稀土ETF | 1.530 | -0.038 | -2.42% | | 159713 | 稀土ETF | 1.136 | -0.028 | -2.41% | | 159715 | 稀土ETF易方达 | 1.039 | -0.025 | -2.35% | 有券商表示，在"碳中和"等政策的持续推动下，新能源汽车、风力发电及节能电机等高端磁材需求增长迅速。此外，传统制 造领域需求复苏及人形机器人加速落地为稀土需求注入增长动力。 （文章来源：每日经济新闻） ...

Core Viewpoint - Publicly offered Fund of Funds (FOF) has achieved its best performance in five years, primarily due to heavy investments in equity funds, especially in the pharmaceutical and technology sectors, reversing a four-year performance slump [1][3][4]. Group 1: Performance Metrics - As of August 17, 2023, 29 publicly offered FOFs have recorded annual returns exceeding 20%, with the best-performing FOF achieving a return of 34.28% [3]. - Over 95% of FOF products have turned positive in annual returns, marking a significant recovery from the previous years where the highest annual return was only 0.29% in 2022 [3][4]. - The top three FOFs in performance are from Guotai Fund, with returns of 34.28%, 31.27%, and 28.92% respectively [3]. Group 2: Investment Strategy Shift - FOFs have shifted their investment strategy from conservative bond funds to more aggressive equity funds, focusing on high-volatility stock funds [5][6]. - The leading FOFs predominantly hold equity funds, with the top-performing FOF, Guotai Youxuan Lihang, investing heavily in stock-based ETFs, including rare earth and Hong Kong innovative drug ETFs [6][7]. - The trend indicates a broader market shift towards aggressive investment strategies, with many FOFs now prioritizing technology and healthcare stocks [7][10]. Group 3: Market Dynamics - The recovery of FOFs is seen as a potential second growth curve for large fund companies, with an increase in total FOFs to 518 and a management scale of 1564.42 billion yuan as of Q2 2025 [4]. - The shift towards equity funds is crucial for retaining clients and ensuring the survival of FOF products, as those heavily invested in bond funds face significant challenges [9][10]. - Recent trends show that FOFs focusing on high-yield equity funds, particularly those with significant holdings in technology and Hong Kong stocks, are more likely to attract and retain investors [7][10].

Core Viewpoint - Publicly offered Fund of Funds (FOF) has achieved its best performance in five years, primarily driven by heavy investments in equity funds, particularly in the pharmaceutical and technology sectors [1][2][3]. Group 1: Performance Metrics - As of August 17, 2023, over 95% of FOF products have reported positive returns for the year, with the best-performing FOF achieving a return of 34.28% [2]. - The annual highest returns for public FOFs from 2021 to 2024 were 14.57%, 0.29%, 3.69%, and 17.14%, indicating a significant recovery in 2024 [2]. - The total number of FOFs in the market reached 518, with a total management scale of 156.44 billion yuan, reflecting a quarter-on-quarter increase of 9.45% [3]. Group 2: Investment Strategy Shift - FOFs have shifted their focus from conservative bond funds to more aggressive equity funds, with top-performing FOFs primarily holding stock-based investments [4][5]. - The top three FOFs by performance are heavily weighted in equity funds, with the leading FOF, Guotai Youxuan Lihang, investing predominantly in stock-based funds [4]. - The strategy of investing in high-yield funds, particularly those focused on technology and Hong Kong stocks, has become crucial for FOFs to maintain their client base and product viability [5][8]. Group 3: Market Trends and Client Retention - The current market trend shows a strong demand for FOFs that focus on high-elasticity equity funds, especially in technology and healthcare sectors, as clients are less likely to invest in FOFs heavily weighted in bond funds [8]. - The shift towards equity funds has not only helped FOFs escape a four-year performance slump but has also enhanced their ability to retain clients by demonstrating profitability [8][7].

Core Viewpoint - Publicly offered Fund of Funds (FOF) has achieved its best performance in five years, primarily due to heavy investments in equity funds, especially in the pharmaceutical and technology sectors, reversing a four-year performance slump [1][3][4]. Performance Summary - Over 90% of FOFs have reported positive returns this year, with the best-performing FOF achieving a return of 34.28% [1][3][4]. - As of August 17, 2023, 29 publicly offered FOFs have exceeded a 20% return, with the top three being Guotai Fund's Guotai Preferred Navigation (34.28%), Guotai Industry Rotation (31.27%), and ICBC Smart Progress (28.92%) [3]. - The annual highest returns for publicly offered FOFs from 2021 to 2024 were 14.57%, 0.29%, 3.69%, and 17.14%, indicating a significant recovery in 2024 [3]. Investment Strategy Shift - FOFs have shifted from conservative strategies focused on bond funds to aggressive strategies emphasizing equity funds, particularly high-volatility stock funds [5][6]. - The top-performing FOFs predominantly hold equity funds, with a notable example being Guotai Preferred Navigation, which has 8 out of 9 holdings in equity funds, including a focus on rare earth and Hong Kong innovative drug ETFs [6][7]. Market Trends - The total number of FOFs reached 518 with a management scale of 156.44 billion yuan, reflecting a quarter-on-quarter increase of 9.45% [4]. - The trend of investing in high-yield funds, particularly those focused on technology and Hong Kong stocks, has become crucial for FOFs to maintain client retention and product viability [10][11]. Client Retention and Future Outlook - The current market demand favors FOFs that heavily invest in high-elasticity equity funds, particularly in technology and pharmaceutical sectors, as opposed to bond funds [11]. - The ability of FOFs to adapt their investment strategies to focus on equity funds is seen as essential for retaining clients and ensuring the longevity of their products in a competitive market [10][11].

Core Viewpoint - The rare earth permanent magnet sector continues to rise, with the rare earth ETF (159713) increasing by 3.17% as of the latest report, marking a cumulative increase of over 46% since the low point on April 8 [1] Group 1: Market Performance - The ETF's trading volume exceeded 81 million yuan, with all 42 constituent stocks rising, including Jin Tian Co., Hua Hong Technology, and Zhongke Sanhuan hitting the daily limit [1] - Notable stock performances include Placo New Materials rising nearly 10% and Wolong Electric Drive increasing over 8% [1] Group 2: Policy and Industry Support - The Ministry of Industry and Information Technology, along with six other departments, issued a plan to stabilize growth in the non-ferrous metals industry, emphasizing the strategic importance of rare earths and tungsten [1] - State-owned enterprises are supporting high-quality development in Tibet, with green mining becoming a key focus area, which is expected to provide strong support for the sector [1] Group 3: Demand and Supply Dynamics - August marks the traditional peak consumption season for the rare earth industry, with increased downstream demand leading to higher procurement [1] - Major manufacturers in the magnetic materials sector have orders scheduled through mid-September, and both domestic and export orders are showing month-on-month strength due to easing export controls [1] - On the supply side, domestic rare earth product imports significantly decreased in the first half of the year due to tariffs and political factors in Myanmar [1]

Core Viewpoint - The total trading volume of the Shanghai and Shenzhen Stock Connect reached 194.62 billion, with Northern Rare Earth and Xinyi Technology leading in individual stock trading volume. The non-ferrous metals sector saw the highest net inflow of funds, while the electronic sector experienced significant outflows [1][4][5]. Trading Volume Summary - The total trading amount for the Shanghai Stock Connect was 92.08 billion, while the Shenzhen Stock Connect was 102.54 billion [1]. - The top traded stocks in the Shanghai Stock Connect included Northern Rare Earth (1st, 1.343 billion), Guizhou Moutai (2nd, 1.329 billion), and Shanxi Fenjiu (3rd, 1.107 billion) [2]. - In the Shenzhen Stock Connect, Xinyi Technology topped the list (1st, 2.367 billion), followed by Zhongji Xuchuang (2nd, 2.246 billion) and CATL (3rd, 1.791 billion) [3]. Sector Performance Summary - The non-ferrous metals sector led with a net inflow of 3.873 billion, followed by small metals (0.806 billion) and diversified finance (0.798 billion) [4]. - The electronic sector had the highest net outflow of 8.962 billion, followed by the computer sector (5.595 billion) and transportation equipment (3.374 billion) [5]. Individual Stock Fund Flow Summary - The top stocks with net inflows included Northern Rare Earth (2.028 billion), Zhongyou Capital (1.047 billion), and Wanhua Chemical (0.660 billion) [6]. - The stocks with the highest net outflows were Changshan Beiming (-1.307 billion), Shengzuo Technology (-1.094 billion), and Hengbao Co., Ltd. (-0.736 billion) [7]. ETF Trading Summary - The top ETF by trading volume was the Hong Kong Securities ETF (1.397 billion), followed by the Hong Kong Innovative Drug ETF (0.877 billion) [8]. - The ETF with the highest growth in trading volume was the Wine ETF (1.10189 billion, up 141.46%), followed by the Rare Earth ETF (0.33435 billion, up 113%) [9]. Futures Position Summary - In the futures market, the IH contract saw a net increase in long positions of 3,760 contracts, while the IF contract had an increase of 2,660 contracts [10]. Institutional Activity Summary - Institutional buying was notable in Northern Rare Earth (0.5423 billion) and Lisheng Pharmaceutical (0.630 billion) [11]. - Significant selling was observed in Spring Wind Power (-2.77 billion) and Mankun Technology (-0.5819 billion) [12]. Retail and Quantitative Activity Summary - Retail investors showed increased activity, with notable buying in Maigemi Te (over 2.4 billion) and selling in Hengbao Co., Ltd. (-1.16 billion) [14][15].

Market Overview - On July 18, 2025, A-shares saw a slight increase across the three major indices, with the Shanghai Composite Index rising by 0.50%, the Shenzhen Component Index by 0.37%, and the ChiNext Index by 0.34. The total trading volume in the Shanghai and Shenzhen markets reached 1,571.1 billion, an increase of 31.7 billion compared to the previous day [1]. Sector Performance - The rare metals sector led the gains, with the Rare Metals ETF (561800) increasing by 4.12%, followed by other ETFs in the rare metals and rare earth categories, all showing significant upward movement [2]. - Conversely, the gaming and photovoltaic sectors experienced the largest declines, with the Gaming ETF (159869) dropping by 1.47% and the Photovoltaic ETF (159618) decreasing by 0.87% [4][5]. News and Developments - A significant discovery was made by Chinese experts in the Tarim Basin, where the world's deepest sandstone-type industrial uranium mineralization was found at a depth of 1,820 meters, marking a milestone in uranium resource exploration [3]. - The Chinese government has intensified export controls on strategic minerals, which is expected to marginally improve compliance export channels and drive domestic prices upward [3]. - The small metals market is experiencing heightened activity, driven by limited reserves, high extraction difficulty, and increasing demand from sectors such as new energy and semiconductors, alongside geopolitical supply chain disruptions [3]. ETF Activity - The top-performing ETF by trading volume was the Silver Hua ETF (511880), with a transaction amount of 16.1 billion. Other notable ETFs included the Sci-Tech Bond ETF (159600) and the Hua Bao ETF (511990) [7]. - The highest turnover rate was recorded by the Benchmark National Debt ETF (511100) at 445.54%, indicating strong trading activity in this segment [9]. Upcoming ETF Launches - Four new ETFs are set to begin fundraising on July 21, 2025, including the General Aviation ETF (159255) and the Robotics ETF (159278), which will focus on emerging sectors such as low-altitude economy and robotics [10][11]. - The General Aviation ETF will cover the entire low-altitude economy chain, while the Robotics ETF will emphasize humanoid robots, reflecting a significant shift in industry focus [11][12].

Group 1 - The overall performance of ETFs showed mixed results during the midday close, with notable gains in rare earth ETFs and declines in others [1] - The rare earth ETF (159713) led the gains with an increase of 3.62%, followed closely by the E Fund rare earth ETF (159715) at 3.61% and another rare earth ETF (516780) at 3.58% [1] - In contrast, the Hubei ETF (159743) experienced the largest decline, falling by 2.46%, while the Chengdu-Chongqing Economic Circle ETF (159623) and the photovoltaic ETF (159857) decreased by 1.34% and 0.98% respectively [1]

Group 1 - The rare earth ETF (516780) increased by over 3% [1] - The trading volume reached 88.4183 million yuan, representing a 189.98% increase compared to the same time yesterday [1] - The total volume has increased by 15.9 million shares in the past month [1]

- The report does not contain any quantitative models or factors related to construction, testing, or evaluation[1][2][3]