一、交易提示 近一个月，QDII阵营再现密集限购，业绩翻倍的"冠军基"亦在列。此举意在控制额度、平滑净值波动，保护原持有人利 益。当前重仓港股与创新药的QDII表现抢眼，赛道红利仍在，未来精选方向仍是提升产品竞争力的关键。 金融界8月1日消息 截至收盘,沪指跌0.37%,报3559.95点,深成指跌0.17%,报10991.32点,创业板指跌0.24%,报2322.63点,科创50 指数跌1.06%,报1036.77点。沪深两市合计成交额15983.51亿元。 | 基金代码 | 基金简称 | 基金经理 | 首次蔡集目标 | 投资类型 | 发行截止日期 | | --- | --- | --- | --- | --- | --- | | | | | (亿元) | | | | 023458 | 前海开源研究优选混合 C | 崔宸龙 | 80.00 | 溜导面 | 2025-08-22 | | 023457 | 前海开源研究优选混合 A | 崔宸龙 | 80.00 | 滑号 | 2025-08-22 | | 018863 | 大成创优鑫选混合 C | 韩创 | 60.00 | 酒号酒 | 2025-08-21 | | ...

Core Viewpoint - The article discusses the characteristics and performance of the Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index, highlighting its focus on AI-related companies and the index's superior returns compared to broader market indices [1][3][21]. Group 1: Index Characteristics - The Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index was launched on July 25, 2024, selecting 30 large-cap companies involved in providing resources, technology, and application support for AI [5]. - The index employs a market capitalization-weighted methodology with a 10% cap on individual stock weights, reflecting the overall performance of representative AI companies in the Sci-Tech Innovation Board [5][7]. - As of July 24, 2025, the total free float market capitalization of the index constituents reached 545.1 billion yuan, with an average market cap of 18.2 billion yuan [12]. Group 2: Industry Distribution - The index shows a high "AI content," with digital chip design companies accounting for 49.03% of the index weight, indicating a strong focus on this critical sector [2][9]. - IT services and horizontal general software contribute approximately 30% to the index, with notable companies like Kingsoft Office and Stone Technology playing significant roles [9][10]. - The index balances investments in leading firms and small-cap growth stocks, with a significant number of small-cap stocks providing high growth potential [12]. Group 3: Market Performance - The index has outperformed similar indices and broad market indices since its inception, with an annualized return of 23.78% as of July 24, 2025, and a Sharpe ratio of 0.81 [21][24]. - The index's performance during market rebounds has been notable, particularly in 2024, where it demonstrated superior rebound strength compared to other indices [39][40]. Group 4: Earnings Expectations - The top ten constituents of the index are expected to generate a cumulative revenue of 44.17 billion yuan in 2024, reflecting a year-on-year growth of 24.8%, with net profits projected to grow by 47.6% [26]. - The overall earnings outlook for the index constituents indicates a sustained growth trend, despite a downturn in 2023 due to industry cycles [26]. Group 5: ETF Product Introduction - The Penghua Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence ETF aims to track the performance of the index, utilizing a full replication strategy to minimize tracking error [43]. - The ETF allows for the exchange of individual stocks for ETF shares, enhancing liquidity and reducing the risk of extreme declines in individual stocks [43].