来源：市场投研资讯 许多人听说过稀土，却未必了解它为何被称为"工业维生素"。在富国基金小宇宙播客栏目《有富同享》 中，富国基金稀土ETF的基金经理曹璐迪与主持人进行了一场深度对话，揭开了稀土的真实"面貌"。 （来源：富国基金） 稀土不"稀"，却是工业命脉 曹璐迪介绍，稀土并非真正的土壤，而是17种金属元素的统称。反常识的是，它并不稀有——全球稀土 储量约9000万吨，而黄金仅6.4万吨。 注：数据来自美国地质调查局2024年全球有色金属产量、储量统计数据。 为何被称为"工业维生素"？曹璐迪解释，稀土虽用量少，却不可或缺。一辆新能源车需要2-2.5公斤稀土 氧化物，人形机器人每台更需要5公斤。没有稀土，电能转化动能的核心环节就无法实现。 中国技术逆袭，掌握"稀土王牌" 中国如何成为稀土强国？曹璐迪指出，关键在技术突破。徐光宪院士发明的"串级萃取技术"，使中国能 将17种稀土元素提纯至99.9999%（6N级），而海外最高仅99.99%（4N级）。 中国还是全球唯一拥有稀土全产业链的国家。曹璐迪强调，海外重建产业链需3-5年，中国在技术和成 本上的优势难以短期超越。 供需格局支撑长期价值 稀土价格为何走强？曹璐迪 ...

当新消费的热潮尚未完全褪去，科技板块已悄然开启反弹；刚理清创新药赛道的投资逻辑，有色金属板 块又突然异军突起——在A股轮动较快的市场环境中，机构投资者凭借专业性和市场敏锐度，常常踩中 投资风口。而普通投资者却往往因为精力所限，时常陷入投资困境：要么追逐热点沦为"高位站岗"的接 盘者，要么面对机构隐秘的资金动向难以应对，错失布局良机。 为打破这一投资难题，助力投资者把握投资机会，日前，平安证券与天弘基金联合打造的ETF投资工 具"机构快车"，已正式登陆平安证券APP。这款历经两年实盘测试的工具，以"专业机构的力量"为内核， 为广大投资者提供了应对行业轮动难题的思路，其不仅是两大金融机构投研实力的结晶，背后更是天弘 基金在量化策略、投资工具领域的积淀。 | 16:39 = 图 & | | | NO * 11 74 | | --- | --- | --- | --- | | | | ETFSX | | | | | | HK | | ETF大赛 | 买宽基 | 买全球 | ┣顾家 | | ​ក៏​ន | | | | | ETF排行 | ETF对比 | 机会宝 | 实盘牛 机构快车 | | 实时关注榜 | | | 热点 ...

Core Viewpoint - The rare earth ETF (159713.SZ) experienced a decline of 1.30%, indicating a negative market sentiment towards this sector [1] Fund Performance - The main capital outflow for the fund was 832.36 million yuan, ranking it first among comparable funds [1] - The latest trading volume for the fund was 76.21 million shares, with the latest transaction amount falling below 100 million yuan, placing it in the bottom two among comparable funds [1]

Core Insights - Rare earth concept stocks surged in the afternoon, with Jiuling Technology rising over 12%, and various rare earth ETFs increasing by more than 1% [1] - Year-to-date, rare earth ETFs have seen significant gains, with increases exceeding 85% [1] Company Performance - Jiuling Technology reported a total revenue of 116 million yuan for the first three quarters of 2025, a year-on-year increase of 7.87%, but net profit attributable to shareholders decreased by 24.29% to 13.47 million yuan [2] - China Rare Earth achieved a revenue of 2.494 billion yuan for the first three quarters, a year-on-year increase of 27.73%, with net profit attributable to shareholders rising by 194.67% to 192 million yuan [3] - In Q3, China Rare Earth reported a revenue of 619 million yuan, a year-on-year decline of 22.40%, and net profit of 30.48 million yuan, down 26.43% [3] - Huahong Technology's Q3 revenue was 2.302 billion yuan, up 70.39%, with net profit soaring by 23211.89% to 117 million yuan [3] - For the first three quarters, Huahong Technology's revenue reached 5.461 billion yuan, a 34.94% increase, and net profit grew by 7110.70% to 197 million yuan [3] Industry Trends - China is transitioning from a "resource power" to a "rule power," implementing export licensing and quota management for rare metals, including rare earths, to gain global pricing power [4] - China holds 44 million tons of rare earth reserves, accounting for 40% of global reserves, and produces 210,000 tons, representing 70% of global production [4] - The country has a dominant position in the rare earth industry, with smelting and separation capacity at 400,000 tons, which is 92% of the global total [4] - Export controls on rare earths have become a strategic tool in the US-China trade war, with recent measures announced in April and October 2025 [4] - The supply of rare earths is entering a phase of accelerated optimization, with mining supply growth rates decreasing from 21% to 6% and smelting separation growth rates from 21% to 4% [4]

Group 1 - Rare earth concept stocks experienced a significant afternoon rally, with Northern Rare Earth, Goldwind Technology, and China Aluminum rising over 4%, while China Rare Earth, Shenghe Resources, and Greeenmei increased by more than 2% [1] - The Rare Earth ETF saw an approximate increase of 2% due to market influences [1] Group 2 - Several brokerages indicate that rare earths, as core resources for high-end manufacturing and strategic emerging industries, are showing a resonant pattern on both supply and demand sides [2] - The strategic position of the rare earth industry chain is expected to be further solidified against the backdrop of increased supply concentration and upgraded demand structure, providing long-term driving force for high-end manufacturing development [2]

Group 1 - Tianhe Magnetic Materials (603072.SH) reported its Q3 2025 results, with 14 institutional investors holding a total of 139 million shares, representing 52.57% of the total share capital [1] - The top ten institutional investors collectively hold 52.30% of the shares, with a slight increase of 0.16 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, three funds increased their holdings, including the Jiashi Zhongzheng Rare Earth Industry ETF, Rare Earth ETF, and Huaxia Zhongzheng 1000 ETF, with an increase ratio of 0.24% [2] - Two public funds reduced their holdings, including the Guangfa Zhongzheng 1000 ETF and Nanfang Zhongzheng 1000 ETF, with a slight decrease [2] - A total of 2242 public funds did not disclose their holdings this quarter, including various ETFs related to rare earth and rare metals [2]

Group 1 - The core viewpoint of the news is that Dayang Electric (002249.SZ) reported its Q3 2025 results, highlighting the institutional investor holdings and changes in share ownership [1] - As of October 28, 2025, a total of 11 institutional investors disclosed holdings in Dayang Electric A-shares, amounting to 193 million shares, which represents 7.89% of the total share capital [1] - The top ten institutional investors include notable entities such as Hong Kong Central Clearing Limited and China Construction Bank, with their combined holdings decreasing by 0.89 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, there was an increase in holdings from one public fund, namely the Harvest CSI Rare Earth Industry ETF, with an increase of 0.40% [2] - Three public funds reported a decrease in holdings compared to the previous quarter, including the Southern CSI 1000 ETF and the Guotai CSI 1000 Enhanced Strategy ETF, with a slight decline in their holdings [2] - A total of four new public funds were disclosed this period, including the Great Wall Growth Enterprise Index Enhanced Fund and the Anxin Industry 4.0 Mixed Fund [2] - One foreign fund, Hong Kong Central Clearing Limited, reported a decrease in holdings by 0.13% compared to the previous quarter [2]

Group 1 - Zhongke Magnetic Industry (301141.SZ) released its Q3 2025 report on October 29, 2025, indicating that as of October 28, 2025, nine institutional investors disclosed holdings in Zhongke Magnetic's A-shares, totaling 5.5777 million shares, which represents 4.50% of the company's total share capital [1] - The institutional investors include Dongyang Shengyi Fu Investment Management Partnership, Ningbo Tianyong Equity Investment Fund Management, Shanghai Tianshi New Equity Investment Center, China Construction Bank's Jiashi Zhongzheng Rare Earth Industry ETF, China Galaxy Securities' Huatai-PB Zhongzheng Rare Earth Industry ETF, Shenzhen Chuangzhu Construction Engineering, BARCLAYS BANK PLC, J.P. Morgan Securities PLC, and UBS AG, with the total institutional holding ratio increasing by 0.13 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, two public funds increased their holdings compared to the previous period, including Jiashi Zhongzheng Rare Earth Industry ETF and Rare Earth ETF, with an increase ratio of 0.30% [2] - There were 25 public funds that did not disclose holdings in the current period, mainly including Jiashi Zhongzheng Rare Metal Theme ETF, Fuquan Zhongzheng Rare Earth Industry ETF, Rare Metal ETF, Yifangda Zhongzheng Rare Earth Industry ETF, and Guangfa Zhongzheng Rare Metal ETF [2] - Regarding foreign investment attitudes, BARCLAYS BANK PLC was the foreign institution that did not disclose holdings in the current period compared to the previous quarter [2]

Core Viewpoint - Lingyi Zhizhao's stock price has shown a continuous upward trend, with a cumulative increase of 8.49% over the last three days, reflecting strong market interest and performance [1]. Group 1: Company Overview - Lingyi Zhizhao Co., Ltd. is located in Jiangmen City, Guangdong Province, and was established on July 1, 1975. The company went public on July 15, 2011 [1]. - The main business involves the production and sales of new electronic components, mobile phone, and computer accessories. The revenue composition is as follows: AI terminals 88.32%, others 6.68%, and automotive and low-altitude economy 5.01% [1]. Group 2: Shareholder Information - Huatai-PB Fund's Huatai-PB CSI 300 ETF (510300) entered the top ten circulating shareholders of Lingyi Zhizhao in the second quarter, holding 48.9685 million shares, which is 0.71% of the circulating shares. The estimated floating profit today is approximately 1.9587 million [2]. - During the three-day increase, the floating profit reached 60.721 million [2]. - The Huatai-PB CSI 300 ETF was established on May 4, 2012, with a latest scale of 425.581 billion. Year-to-date return is 22.71%, ranking 2625 out of 4218 in its category [2]. Group 3: Fund Holdings - The Rare Earth ETF (516780) holds 6.3281 million shares of Lingyi Zhizhao, unchanged from the previous period, accounting for 4.86% of the fund's net value, making it the fifth-largest holding [3]. - The estimated floating profit today is about 253,100, with a total floating profit of 7.8468 million during the three-day increase [3]. - The Rare Earth ETF was established on February 26, 2021, with a latest scale of 3.298 billion. Year-to-date return is 82.45%, ranking 68 out of 4218 in its category [3].

Core Insights - Dadi Bear (688077.SH) reported its Q3 2025 results on October 28, 2025, highlighting a total of 3 institutional investors holding shares, amounting to 3.47% of the total share capital [1] Institutional Holdings - The total number of shares held by institutional investors is 3.975 million, with a decrease of 0.96 percentage points compared to the previous quarter [1] - The institutional investors include Anhui High-tech Jintong Anyi Equity Investment Fund, Huatai Securities Asset Management, and China Construction Bank's Jiashi CSI Rare Earth Industry ETF [1] Public Fund Holdings - One public fund, Jiashi CSI Rare Earth Industry ETF, increased its holdings by 0.35% compared to the previous period [1] - A total of 24 public funds did not disclose their holdings this quarter, including various ETFs focused on rare earth and technology sectors [1]