近期，金融监管总局下调保险公司多项风险因子，充分发挥险资作为耐心资本的优势，这意味着险资投资A股的资金规模进一步拓展。招商证 券认为调降保险公司股票投资风险因子，能够鼓励保险公司加大入市力度，支持稳定和活跃资本市场，建议左侧布局金融科技。 东吴证券认为，2026年金融科技机会主要围绕两条主线展开：短期看市场活跃的持续性，2025年资本市场活跃度仍在持续，互联网券商在 2025年及2026年上半年仍会有一定的业绩释放；中期关注金融IT业绩弹性，随着政策发力推动金融行业基本面改善，同时券商信创稳步推 进，也将使金融IT公司收益逐步增长。 从估值端看，当前中证金融科技主题指数当前处近半年低位，较高点回落明显，估值消化较为充分。叠加后市资本市场高活跃预期、数字经 济、AI金融等热点催化，当前金融科技左侧配置或正当时。 多角度把握金融科技机会，建议重点关注金融科技ETF（159851）及其联接基金（A类013477、C类013478），按照申万一级行业，标的指数 重仓计算机+非银金融，全面覆盖了互联网券商、金融IT、跨境支付、AI应用、华为鸿蒙等热门主题。 数据来源：沪深交易所等。 风险提示：金融科技ETF被动跟踪中证 ...

多角度把握金融科技机会，建议重点关注金融科技ETF（159851）及其联接基金（A类013477、C类 013478），按照申万一级行业，标的指数重仓计算机+非银金融，全面覆盖了互联网券商、金融IT、跨 境支付、AI应用、华为鸿蒙等热门主题。 17号午后，金融科技突然水下拉升，互联网券商、数字人民币全线活跃！截至发稿，翠微股份涨停斩获 两连板，古鳌科技逼近20CM涨停，指南针涨超5%，同花顺、东方财富、银之杰等多股跟涨超2%。热 门ETF方面，同类规模最大的金融科技ETF（159851）水下直线拉升，现场内价格涨超1%，实时成交 额超3亿元。 | | | 分制 多日 1分 5分 15分 30分 * | | | | F9 盘前盘后 盛加 九转 画线 工具 3 (2 > | | 金融科技ETF | | 159851 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 0.818 | | | | 159851[金融科技ETF] 13:59 价 0.812 潘歌 0.010(1.25%) 均价 0.796 成交盘 4.41. ...

热门ETF方面，同类规模最大的金融科技ETF（159851）全天逆市冲高，场内一度上探1.76%，收盘仍 逆市上扬0.75%收复年线。全天放量成交超4亿元，盘中频现溢价，显示买盘资金较为活跃。 数字人民币异动拉升或受一则政策消息影响。消息面上，商务部办公厅、中国人民银行办公厅、金融监 管总局办公厅发布《关于加强商务和金融协同，更大力度提振消费的通知》，其中提到，鼓励有条件的 地方运用数字人民币智能合约红包提升促消费政策实施质效。 互联网金融方面，近期金融监管总局下调保险公司多项风险因子，充分发挥险资作为耐心资本的优势， 这意味着险资投资A股的资金规模进一步拓展。招商证券认为调降保险公司股票投资风险因子，能够鼓 励保险公司加大入市力度，支持稳定和活跃资本市场，建议左侧布局金融科技。 东吴证券认为，2026年金融科技机会主要围绕两条主线展开：短期看市场活跃的持续性，2025年资本市 场活跃度仍在持续，互联网券商在2025年及2026年上半年仍会有一定的业绩释放；中期关注金融IT业绩 弹性，随着政策发力推动金融行业基本面改善，同时券商信创稳步推进，也将使金融IT公司收益逐步增 长。 从估值端看，当前中证金融科技主题 ...

16日早盘，金融科技盘中逆市翻红，翠微股份涨停，赢时胜、新晨科技大涨超10%，创识科技、赢时 胜、恒宝股份、税友股份等多股涨超4%。热门ETF方面，同类规模最大的金融科技ETF（159851）场 内逆市翻红，盘中频现溢价，量能环比放大，表明买盘活跃。 | | 分制 多日 1分 5分 15分 30分 · | | | | | F9 盘前盘后 婴加 九转 阅技 工具 (2) 2 | 1 > | 金融科技ETF | | 159851 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 159851[企融科技ETF] 11:21 价 0.797 浴歌 0.001(0.13%) 均价 0.793 成交量 1826 | | | | | | | | 0.807 | | | | | | | | 0.797 | | +0.001 +0.13% | | | | | | | | | | SZSE CNY 11:21:09 交易中 | | 通販/ 0 + | | 0.803 | | | | | | | 0.92% | 净值支费 ...

周五（12月5日），金融科技午后直线拉升，互联网券商、金融IT双双走高，中证金融科技主题指数收 涨超3%。其中，赢时胜20CM涨停，星环科技大涨超17%，古鳌科技、安硕信息、银之杰、指南针、顶 点软件、大智慧、财富趋势、艾融软件等多股涨超5%，东方财富阶段新低后反弹超4%。 热门ETF方面，同类规模最大的金融科技ETF（159851）超跌反弹，场内涨幅一度摸高4.71%，收盘仍 大涨3.56%，连收3根重要均线！全天爆量成交超10亿元，资金顺势抢筹2.63亿份，此前资金已连续四日 潜伏加码，累计金额超2亿元！ 责任编辑：杨红卜 单周复盘看，金融科技板块自8月高点连续回调以来，周线已两连阳，筑底回暖迹象明显。后市分析 看，金融科技板块兼具"金融"+"科技"双重属性，在非银金融补涨预期、AI全域赋能金融软件等多重催 化下，金融科技作为行情急先锋，有望成为冲刺年末行情的领头羊。 金融端来看，政策支持促进金融行业高质量发展，预计长端利率低位震荡，权益市场延续风险偏好提升 驱动下的牛市行情。浙商证券指出，非银板块2025年整体滞涨，随着权益市场长期"慢牛"行情的持续演 绎，非银板块的贝塔属性有望凸显，在今年滞胀的背景下 ...

周三（12月3日），金融科技板块继续下探寻底，中证金融科技主题指数跌超2%跌破年线，成份股普遍 收绿，仅创识科技、税友股份两股收涨。下跌方面，东方财富跌超1%下探近5个月新低，较8月29日高 点回撤超20%；此外，金融软件跌幅较深，宇信科技、赢时胜、神州信息等多股跌超3%。 热门ETF方面，同类规模最大的金融科技ETF（159851）场内跌逾2%失守年线，下探本轮调整新低，全 天成交额达4.74亿元。阶段新低之际，"抄底"资金连续介入，今日净申购6900万份，此前两日累计加仓 超1.1亿元，或为布局后市超跌反弹机会。 短期分析看，金融科技板块近期表现低迷或受多重因素影响：①交投方面，两市每日成交额维持1.6万 亿附近，较前期高点有所收缩，市场流动性边际收紧压制高弹性板块表现；②市场风格上，年末资金避 险情绪升温，对流动性较为敏感的科技股首当其冲；③技术面上，板块技术面呈现破位下跌趋势。 中长期投资机会来看，机构认为金融科技板块仍主要来自两方面，一是金融端，二是科技端。 金融端来看，政策支持促进金融行业高质量发展，预计长端利率低位震荡，权益市场延续风险偏好提升 驱动下的牛市行情。浙商证券指出，非银板块2025年 ...

Group 1 - The financial technology sector is experiencing a downturn, with the China Securities Financial Technology Theme Index dropping over 2% and many constituent stocks declining more than 5% [1] - The largest financial technology ETF (159851) has seen a 3% decline, reaching a new low in this adjustment phase, with real-time transaction volume exceeding 200 million yuan [1] - East Wu Securities projects a clear investment logic for the financial technology sector in 2026, driven by policy support, market growth, active capital markets, and technological changes led by AI [3][4] Group 2 - From 2021 to 2025, China's financial technology policies will cover various sectors, aiming to promote innovation and high-quality development, with the market size expected to grow to 651.5 billion yuan by 2028 [3] - The A-share market has seen significant trading activity since August 2025, with daily trading volumes averaging over 2.7 trillion yuan, peaking at 3.75 trillion yuan on September 18 [4] - Investment opportunities in the financial technology sector are focused on two main lines: the sustainability of market activity and the performance elasticity of financial IT companies [4]

Group 1 - Financial technology sector shows resilience with stocks like Geer Software and Tax Friend rising over 2% [1] - The financial technology ETF (159851) is experiencing positive momentum, indicating potential investment opportunities [1][3] - Open Source Securities suggests that the non-bank financial sector is likely to benefit from the ongoing "slow bull" market, with a focus on high elasticity companies and industry leaders [1][5] Group 2 - The financial technology ETF (159851) has surpassed 10 billion in scale, with an average daily trading volume of 500 million over the past month, leading among similar ETFs [3] - The ETF covers a wide range of themes including internet brokerage, financial IT, cross-border payments, AI applications, and Huawei Harmony [3] - The growth of brokerage firms and cross-border business is expected to continue, with a focus on top brokers that show quick profit recovery and value [5]

Group 1 - Financial IT stocks are active, with the fintech sector showing positive performance, highlighted by stocks like Geer Software hitting the daily limit, and others like Highwei, Yingshisheng, and Shenzhou Information rising over 3% [1] - The financial technology ETF (159851) saw an intraday increase of over 1%, with real-time transaction volume exceeding 1 billion yuan, indicating strong market interest [1] - The current market is in a phase of bottom consolidation, suggesting potential low-position investment opportunities [1] Group 2 - CITIC Securities believes that the A-share bull market is likely to continue, driven by policy shifts and improved liquidity, with core logic expected to strengthen through 2026 [2] - Guotai Junan Securities indicates that the "transformation bull" in China is far from over, with economic transformation and capital market reforms expected to amplify bullish sentiment [2] - Open Source Securities recommends focusing on sectors like internet brokerages and financial IT, as non-bank financials are expected to benefit significantly from the ongoing bull market [2] Group 3 - The financial technology ETF (159851) has a scale exceeding 10 billion yuan, with an average daily transaction volume of 500 million yuan over the past month, leading among similar ETFs tracking the same index [3] - The ETF covers a wide range of themes, including internet brokerages, financial IT, cross-border payments, AI applications, and Huawei's HarmonyOS [3]

Core Viewpoint - The financial technology sector is experiencing a downturn, with the China Securities Financial Technology Theme Index dropping over 1% on November 12, marking a new low in the current adjustment phase [1][3]. Group 1: Market Performance - Internet brokerage stocks are leading the decline, with Dazhihui hitting a limit down and closing down over 8%, while Tonghuashun fell by 4% and Guiding Chen dropped over 2% [1]. - In contrast, financial IT stocks showed resilience, with Hengyin Technology closing up over 7%, and several other stocks like Gaoweida and Guao Technology also seeing gains [1]. - The popular ETF, the 100 billion financial technology ETF (159851), fell below its six-month moving average, with a daily trading volume exceeding 400 million and a net subscription of 55 million shares on the same day [1][4]. Group 2: Technical Analysis - The financial technology index has retreated over 17% since its historical high on August 25, indicating it may be at the bottom of the current adjustment phase [3]. - The next key support level is anticipated to be the annual line, as the sector continues to explore lower levels after losing the six-month line [3]. Group 3: Investment Insights - The investment value of the financial technology sector is influenced by two main factors: internet brokerages and financial IT [3]. - The non-bank financial sector is expected to benefit from the ongoing "slow bull" market, with potential for continued profit and valuation increases during the capital market upcycle [3]. - Internet brokerages are seen as having unique Alpha growth potential due to successful transformations and support from policy, improved funding conditions, and industry dynamics [3][4]. Group 4: Financial IT Sector - The financial IT sector is experiencing high demand driven by the development of digital currencies and increased market activity, particularly in cross-border payments and internet finance [4]. - Financial technology companies are positioned to benefit from heightened market activity and advancements in AI within the financial sector, presenting new growth opportunities [4]. Group 5: ETF and Fund Recommendations - It is recommended to focus on the financial technology ETF (159851) and its associated funds, which cover a wide range of themes including internet brokerages, financial IT, cross-border payments, and AI applications [4]. - As of October 31, the financial technology ETF (159851) has a scale exceeding 10 billion, with an average daily trading volume of 500 million, leading in scale and liquidity among similar ETFs [4].