看财经、查排名、买基金，就上公募排排网，申购费低至0.001折。 以下文章来源于公募排排网 ，作者悟空 公募排排网 . 本文首发于公众号"公募排排网"。（点击↑↑上图查看详情） 导语 8月19日，英伟达供应链的核心个股工业富联涨停再创历史新高，市值超9700亿元，即将迈入"万亿"市值俱乐部，有望成为AI算力产业链又 一"里程碑"事件 。 8 月以来，A股的AI算力概念股开启了加速拉升行情 ，工业富联、新易盛、天孚通信、中际旭创、中恒电气、光库科技、胜宏科技等一批个股 频创历史新高。 在这样的背景下，布局 AI算力概念股的基金"赢麻了" 。 （ 点此查看重仓AI算力概念的"翻倍基"名单 ） 那么， AI算力板块和相关的基金走强的逻辑是什么？还能继续走强吗？多家券商分析认为， 近期 AI算力板块走强，主要受AI算力需求持续超 预期驱动 。 科技巨头持续加码算力设施建设，算力产业有望保持高景气 近期海外科技巨头AI算力部署计划持续超预期，如Meta于7月宣布将建造全球最大数据中心集群；Open AI CEO奥尔特曼在本月访谈中强调"由 于产能受限和GPT运营需要更多GPU，Open AI计划继续筹集数万亿美元建设数 ...

Core Viewpoint - The A-share market showed strong performance in July, with the Shanghai Composite Index rising by 3.74%, the Shenzhen Component Index by 5.20%, and the ChiNext Index by 8.14%, indicating a favorable market sentiment for institutional investors, including private equity funds [1] Group 1: Market Overview - In July, the market maintained high trading volumes, with margin financing balances reaching a new high for the year, reflecting a positive atmosphere for bullish investments [1] - Private equity funds have performed well this year, with an average return of 14.86%, significantly outperforming the market's return of 6.61% during the same period [1] Group 2: Institutional Research Activities - A total of 651 A-share companies were researched by institutions, with 11,554 participating institutions, and private equity funds specifically researched 306 companies with 1,142 participating private equity firms [2][4] - The most researched sectors by institutions were electronics, biomedicine, computers, and machinery, while private equity funds focused on computers, biomedicine, electronics, and power equipment [2][3] Group 3: Notable Companies and Performance - The top 20 A-share companies researched by institutions in July had a median price change of 11.93%, outperforming the broader market [5] - Notable companies such as NewEase and Zhongji Xuchuang were heavily researched, with 179 and 145 institutions respectively, and both saw price increases exceeding 40% in July [6][7] Group 4: Focus on AI and Innovative Drugs - The AI computing and innovative drug sectors were highlighted as strong performers in July, with several companies in these areas experiencing price increases of over 40% [9] - Private equity funds, including prominent firms like Fusheng Asset and Juming Investment, conducted research on companies in the AI supply chain, leading to significant stock price increases [9][15] Group 5: Prominent Private Equity Firms - Leading private equity firms such as Gao Yi Asset and Fusheng Asset conducted extensive research on multiple A-share companies, with Gao Yi researching 19 companies, primarily in the biomedicine and machinery sectors [12] - The median price change for companies researched by Gao Yi in July was 11.08%, indicating strong performance relative to the market [12] Group 6: Summary of Research Findings - A total of 27 A-share companies were researched by more than 10 private equity firms, with a median price change of 10.81% in July, again outperforming the market [7] - The research activities of top private equity firms were associated with significant stock price increases, with many companies seeing gains of over 40% [15]

Market Overview - The A-share market experienced a volatile upward trend this week, driven by the banking sector and certain blue-chip stocks, with structural activity noted in AI hardware-related fields [2][3]. Weekly Review - The banking sector performed exceptionally well, with the four major banks (Agricultural, Industrial, Commercial, and Construction) reaching historical highs in stock prices. The dividend yield for bank stocks is currently around 4%, making them attractive in the current low-interest-rate environment [3]. - The rise in bank stocks and increased interest in stablecoins also positively impacted brokerage, insurance, and diversified financial sectors [3]. - The government has emphasized addressing "involution" competition, particularly in industries like new energy vehicles and photovoltaics. Recent policies aim to promote industrial upgrades and innovation, leading to a notable performance in the photovoltaic sector, with slight gains in steel, building materials, and cement stocks [3]. AI Hardware Sector - The AI hardware sector saw significant gains due to Nvidia's market capitalization reaching a historical high, alongside optimistic expectations for mid-year performance across the AI industry chain. Key products like PCB circuit boards and CPO optical modules experienced substantial price increases [4]. - However, the sector faced increased volatility due to substantial price increases since early June and uncertainties surrounding global trade tariffs [4]. Market Outlook - With core listed companies in major sectors like finance, innovative pharmaceuticals, new energy, and real estate seeing rising stock prices, the Shanghai Composite Index has surpassed the 3500-point mark and is showing an upward trend. It is anticipated that A-share listed companies' performance will gradually improve in the low-interest-rate environment, leading to a heightened preference for equity assets [5]. - There is an opportunity to strategically position in high-quality listed companies expected to report growth in mid-year results [5].

Core Viewpoint - Northbound capital, representing foreign investment in the A-share market, has shown significant changes in its holdings as of the end of Q2 2025, with a total market value of approximately 22,830 billion yuan, an increase of about 921 billion yuan from the previous quarter [2][5]. Industry Analysis - The top three industries by market value held by northbound capital at the end of Q2 2025 are: 1. Power Equipment: 2,814 billion yuan 2. Banking: 2,541 billion yuan 3. Electronics: 2,261 billion yuan [3][4]. - Compared to Q1 2025, the market value of holdings in the banking sector increased by approximately 291 billion yuan, while the food and beverage sector saw a decrease of about 215 billion yuan [3][4]. Company Holdings - A total of 37 companies have a market value of over 10 billion yuan held by northbound capital, with 8 of these being banks [6]. - The largest holding is in Ningde Times, valued at approximately 1,531 billion yuan, with a net purchase of about 126 billion yuan in Q2 2025 [6][14]. - Guizhou Moutai follows with a holding of approximately 1,027 billion yuan, which decreased by over 200 billion yuan due to a drop in stock price and a reduction in holdings [6][14]. Stock Performance - Companies with holdings exceeding 100 billion yuan by northbound capital had a median stock price increase of 4.15% in Q2 2025, outperforming the Shanghai Composite Index's increase of 3.26% [6][10]. - The top-performing stock was Shanghai Pudong Development Bank, which saw a price increase of approximately 33.08% [6]. Changes in Holdings - Northbound capital increased its holdings in several sectors, with notable increases in the banking, non-bank financial, power equipment, and medical biology sectors, each seeing increases of over 100 billion yuan [3][4]. - Conversely, the food and beverage sector experienced the largest decrease in holdings, with a reduction of approximately 215 billion yuan [3][4]. Notable Increases - The most significant increase in holdings was observed in Ningde Times, with an increase of approximately 126 billion yuan [14]. - Other notable increases include the pharmaceutical company Hengrui Medicine, which saw an increase of over 73 billion yuan [14]. Emerging Sectors - The computing and photovoltaic sectors have shown strong performance, with 26 computing-related stocks held by northbound capital, achieving a median increase of about 10.51% in Q2 2025 [10][12]. - In the photovoltaic sector, 16 stocks were held with a market value exceeding 5 billion yuan, with Longi Green Energy leading at nearly 6.4 billion yuan [12][13].

Group 1 - The CPO optical module concept is gaining traction, with the CSI Cloud Computing and Big Data Theme Index rising by 2.13% as of July 8, 2025, with notable increases in stocks such as Tianfu Communication up by 13.56% [1] - CPO technology is recognized as a key infrastructure for AI computing power due to its low power consumption and high bandwidth characteristics, with applications expected in various sectors including smart transportation, energy, finance, and healthcare [1] - The global edge AI market is projected to grow from 321.9 billion yuan in 2025 to 1,223 billion yuan by 2029, reflecting a compound annual growth rate (CAGR) of 39.6%, while China's edge AI market is expected to increase from 80.2 billion yuan to 307.7 billion yuan during the same period, with a CAGR of 39.9% [1] Group 2 - The CSI Cloud Computing and Big Data Theme Index tracks 50 listed companies involved in cloud computing and big data services, with the top ten weighted stocks accounting for 51.84% of the index [2] - The top ten stocks in the CSI Cloud Computing and Big Data Theme Index include companies such as iFlytek, Zhongji Xuchuang, and New Yisheng, indicating a strong concentration in the index [2]

Group 1 - The A-share market is expected to face three significant challenges next week, but there are three major investment opportunities hidden within [1] - The market experienced volatility with the Shanghai Composite Index reaching 3342 points before a sudden pullback, while the ChiNext Index fell nearly 1% [3] - Technology stocks, particularly in the semiconductor and military sectors, faced declines, while high-dividend sectors like banking and electricity performed well [3] Group 2 - Key upcoming events include the Federal Reserve's meeting on May 15 and the release of the U.S. April CPI data, which could impact global markets [3] - The focus remains on technology growth, with specific attention to AI computing power and domestic semiconductor policies, presenting buying opportunities during pullbacks [3] - Consumer recovery is highlighted, with positive data from the May Day holiday, making sectors like tourism, duty-free, and home appliances attractive [3] Group 3 - A balanced position of 50% is recommended, with gradual buying in technology stocks if they drop below the 20-day moving average, while avoiding speculative materials [4] - Defensive sectors should include major cash flow companies like Yangtze Power and Industrial and Commercial Bank of China, which offer over 4% dividend yields [4] - Key market levels to watch include the Shanghai Composite Index breaking below 3330 points with low volume, indicating a need to reduce positions, and a breakout above 3360 points suggesting a rally in technology growth stocks [4]