Since 2024, the theme of central enterprises has frequently ushered in good news. On February 19, the "AI Empowerment Industry Renewal" ** Enterprise Artificial Intelligence Promotion Conference was held, emphasizing the important position and functional mission of central enterprises in the development of the artificial intelligence industry, and requiring central enterprises to put the development of artificial intelligence in the overall work of overall planning, focusing on the construction of computing infrastructure and multimodal industry empowerment. The entry of central enterprises is conducive to accelerating the improvement of the basic foundation for the development of China's AI industry, promoting the formation of industrial demonstration projects, and providing direction for other industrial innovation. The overall central enterprise + AI "strong combination", the central enterprise science and technology track ushered in an important benefit.
Combined with the 50bp RRR cut on January 24 and the 25bp interest rate cut on February 20, the market risk appetite has gradually increased under the care of the policy, and the technical ** is expected to open. Over-falling** or you can choose central state-owned enterprises + over-falling growth. On the one hand, the central state-owned enterprises have ushered in a strong catalyst after a long period of adjustment, and the follow-up reform of important domestic meetings is expected to be gradually brewing; On the other hand, in January 2024, the growth style represented by TMT will be deeply adjusted, and overseas technology stocks are expected to form a strong mapping to the domestic market after breakthroughs in large model technologies such as SORA, and central enterprises + AI are expected to become the medium and long-term main line of the year. The value of the allocation of the science and technology track of central enterprises is highlighted.
In terms of tool selection, 1) the central enterprise science and technology leading index tracking of the central enterprise science and technology leading index layout of relevant departments involves 50 leading enterprises in aerospace and defense, computer, electronics, semiconductors, communication equipment and technical services and other industries, all of which are expected to be empowered by artificial intelligence, or a powerful tool for the layout of the central enterprise + AI "main line", which is expected to show strong flexibility after the formation of market expectations, and the current allocation value is highlighted.
Chart: Distribution of first-class industries in the structural adjustment index of central enterprises.
Info**: wind; As of 20240221).
2) The central enterprise ETF (159959) tracks the largest weight track of the central enterprise structural adjustment index is also the TMT track including computers, communications, national defense and military industry, while laying out the main line of central enterprises + AI, the index also has a layout for "stable growth" industries such as building decoration, public utilities, petroleum and petrochemical, and is expected to benefit from the window period of continuous development of stable growth policies in the first quarter. The index also has strong dividend attributes, the overall style is relatively balanced, and the central enterprise ETF (159959) currently also has the allocation value of "both offense and defense".
Chart: Distribution of first-class industries in the structural adjustment index of central enterprises.
Info**: wind; As of 20240221).
Risk Warning. Dear investors: Investment is risky, and investment needs to be cautious. Public offering of **investment** (hereinafter referred to as "** is a long-term investment tool, its main function is to diversify investment, reduce the individual risk caused by a single investment**. Unlike financial instruments such as bank savings that can provide fixed income expectations, when you buy a product, you may not only share the income generated by the investment according to the share you hold, but also bear the loss caused by the investment.
Before you make an investment decision, please carefully read the legal documents of the product such as the contract, the prospectus and the product key facts statement and this risk disclosure, fully understand the risk-return characteristics and product characteristics, carefully consider the various risk factors that exist, and fully consider your own risk tolerance according to your own investment objectives, investment period, investment experience, asset status and other factors, and make rational judgments and prudent investment decisions on the basis of understanding the product situation and sales suitability opinions. In accordance with relevant laws and regulations, Yinhua ** Management Shares *** makes the following risk disclosures:
1. According to the different investment objects, **divided into **hybrid**, bonds**, money market**, medium**, commodities** and other different types, you will get different income expectations for investing in different types of **, and will also bear different degrees of risk. In general, the higher the expected return, the greater the risk you take.
2. In the process of investment operation, we may face various risks, including market risks, as well as our own management risks, technical risks and compliance risks. Huge redemption risk is a risk unique to open-ended**, that is, when the net redemption application of a single open day** exceeds a certain percentage of the total share (10% for open-ended and 20% for regular opening**, except for special products stipulated by the CSRC), you may not be able to redeem all the **shares of the application in time, or the payment of your redemption may be delayed.
3. You should fully understand the difference between regular fixed investment and lump sum deposit and withdrawal. Regular investment is a simple and easy investment method to guide investors to make long-term investment and average investment costs, but it cannot avoid the inherent risks of investment, cannot guarantee investors to obtain returns, and is not an equivalent financial management method to replace savings.
4. Risk disclosure of special types of products: Investors should pay attention to the risk of fluctuation of the underlying index and the unique risks of ETF (exchange-traded open-ended**) investment.
5. The manager promises to manage and use the assets in good faith, diligence and responsibility, but does not guarantee that the company will make a certain profit or a minimum return. Past performance and its net worth are not indicative of its future performance, and other performance managed by the Manager does not constitute a guarantee of performance. Yinhua ** Management Shares *** reminds you of the "buyer's responsibility" principle of **investment, after making an investment decision, the investment risk caused by the change of **operating conditions and **net value shall be borne by you. The Manager, the Custodian, the Sales Agency and the relevant institutions do not make any promises or guarantees regarding the return on investment.
6. The above ** shall be applied for and raised by Yinhua ** in accordance with relevant laws, regulations and agreements, and shall be licensed and registered by the China ** Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission"). The **contract, **prospectus and **product key facts statement have been approved by the China Securities Regulatory Commission **electronic disclosure** and **administrator** [www.].yhfund.com.cn] was publicly disclosed. The registration of ** by the China Securities Regulatory Commission does not indicate that it has made substantive judgments or guarantees on the investment value, market prospects and returns of **, nor does it indicate that there is no risk in investing in **.
The above content and data have nothing to do with the position of the interface and do not constitute investment advice. Do so at your own risk.