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大的一些行业和个股会有阶段性超跌反弹的机会，市场能不能反转还需要等待更多的国内经济复苏信号。","fund":{"_id":3000000003624,"stockCode":"003624","stockType":"fund","areaCode":"cn","followedNum":58,"blackenedNum":1,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2016-10-24T16:00:00.000Z","setUpScale":10163500,"market":"a","tickerId":3624,"custody":"中国工商银行股份有限公司","name":"创金合信资源主题精选股票型发起式证券投资基金","shortName":"创金合信资源主题精选股票(003624)","fundSecondLevel":"company","__csrcFundId":906,"fundStatus":"normal","lastUpdated":"2026-04-30T18:57:07.341Z","masterFundFlag":1,"inceptionDate":"2016-11-01T16:00:00.000Z","fundCollectionId":4000050990000,"currency":"CNY","masterFundShortName":"创金合信资源主题精选股票","memoNum":3,"pinyin":"cjhxzyztjxgpxfqszqtzjj","managers":[{"stockCode":"8801436829","stockType":"fund_manager","exchange":"fm","tickerId":1225166240,"name":"李游"},{"stockCode":"db20904170","stockType":"fund_manager","exchange":"fm","tickerId":803236240,"name":"黄超"}]},"announcement":{"linkText":"创金合信资源主题精选股票型发起式证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1142120","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec75e7fea5b3eb0469b7e","date":"2024-03-30T16:00:00.000Z","stockId":3000000003624,"sao":"报告期内本基金继续维持煤炭的重点配置，虽然煤价一季度出现下跌，但我们认为煤价二季度会企稳回升，因为一季度末库存已接近合理水位，中长期煤价在产能受限的大背景下价格的稳定性会比较强。报告期内本基金维持黄金的重点配置，因为美联储降息周期已经开启，叠加地缘政治的不稳定，金价处于上行周期。报告期内本基金小幅增加了铜的配置，因为海外铜矿减产强化了未来铜矿增速放缓的预期，铜价长期的稳定性在增强，行业估值有向上空间。报告期内本基金减少了锂的配置，因为锂价在产能充分出清之前很难开启上行周期，行业中短期处于底部震荡态势，以灵活交易为主。","declarationDate":"2024-04-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:13:02.125Z","fund":{"_id":3000000003624,"stockCode":"003624","stockType":"fund","areaCode":"cn","followedNum":58,"blackenedNum":1,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2016-10-24T16:00:00.000Z","setUpScale":10163500,"market":"a","tickerId":3624,"custody":"中国工商银行股份有限公司","name":"创金合信资源主题精选股票型发起式证券投资基金","shortName":"创金合信资源主题精选股票(003624)","fundSecondLevel":"company","__csrcFundId":906,"fundStatus":"normal","lastUpdated":"2026-04-30T18:57:07.341Z","masterFundFlag":1,"inceptionDate":"2016-11-01T16:00:00.000Z","fundCollectionId":4000050990000,"currency":"CNY","masterFundShortName":"创金合信资源主题精选股票","memoNum":3,"pinyin":"cjhxzyztjxgpxfqszqtzjj","managers":[{"stockCode":"8801436829","stockType":"fund_manager","exchange":"fm","tickerId":1225166240,"name":"李游"},{"stockCode":"db20904170","stockType":"fund_manager","exchange":"fm","tickerId":803236240,"name":"黄超"}]},"announcement":{"linkText":"创金合信资源主题精选股票型发起式证券投资基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1066552","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec75e7fea5b3eb0469b7d","date":"2023-12-30T16:00:00.000Z","stockId":3000000003624,"sao":"2023年在美联储降息预期不断升温的大背景下，本基金重点配置了金融属性较强的铜和黄金。本基金在2023年前三个季度重点配置了电解铝行业，但在三季度末四季度初做了大幅减仓，主要因为地产销量持续低于预期。在2023年年初欧洲能源危机缓解后，本基金减少了煤炭的配置，但在7-8月份煤炭价格寻找到中长期底部后，大幅加仓了煤炭。本基金在上半年减仓了锂行业，主要因锂价进入下行周期，但在11-12月大幅加仓了锂，主要因为价格跌至底部区域，行业开始出现减产和停产现象。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:13:02.109Z","mo":"2023年整体市场震荡主要是因为内外部压力很大，国内地产销量低迷导致市场对未来经济预期较低，海外美联储加息对国内市场构成了较大的估值压力。展望2024年，美联储降息预期升温，市场面临的外部压力减轻，如果国内地产销量能企稳将极大程度地恢复市场信心，这点还需要密切跟踪。行业配置层面重点看好周期反转的新能源、生猪行业和处于产业发展0-1阶段的AI和人型机器人等。","fund":{"_id":3000000003624,"stockCode":"003624","stockType":"fund","areaCode":"cn","followedNum":58,"blackenedNum":1,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2016-10-24T16:00:00.000Z","setUpScale":10163500,"market":"a","tickerId":3624,"custody":"中国工商银行股份有限公司","name":"创金合信资源主题精选股票型发起式证券投资基金","shortName":"创金合信资源主题精选股票(003624)","fundSecondLevel":"company","__csrcFundId":906,"fundStatus":"normal","lastUpdated":"2026-04-30T18:57:07.341Z","masterFundFlag":1,"inceptionDate":"2016-11-01T16:00:00.000Z","fundCollectionId":4000050990000,"currency":"CNY","masterFundShortName":"创金合信资源主题精选股票","memoNum":3,"pinyin":"cjhxzyztjxgpxfqszqtzjj","managers":[{"stockCode":"8801436829","stockType":"fund_manager","exchange":"fm","tickerId":1225166240,"name":"李游"},{"stockCode":"db20904170","stockType":"fund_manager","exchange":"fm","tickerId":803236240,"name":"黄超"}]},"announcement":{"linkText":"创金合信资源主题精选股票型发起式证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1049702","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec75e7fea5b3eb0469b7c","date":"2023-09-29T16:00:00.000Z","stockId":3000000003624,"sao":"报告期内本基金增加了煤炭行业的配置，减少了锂钴的配置，并维持铜、铝、黄金的重点配置。增加煤炭行业配置的主要原因是煤炭价格在7-8月已经探明中长期的底部，上半年需求走弱，进口大幅增加的背景下，煤炭价格仍然能够维持在历史较高水平，9月传统淡季煤炭价格大幅上行主要因为非电需求抬升以及部分高成本煤矿降低产能利用率，中长期来看，目前历史高位的进口量进一步增加的空间有限，核增产能都已经投产，新增产能也有限，一旦需求边际改善，煤价将易涨难跌，总的看，煤价未来几年仍将维持在历史中高位，港口现货750元/吨可能是中长期底部，在此基础上，煤企将维持较好的盈利，并有能力维持高分红，估值有大幅向上的空间。减少锂钴的配置主要在于，锂钴前两年的暴利刺激了大量新增产能，同时由于中游去库存比预期的时间更长，对锂钴的需求增幅是明显低于电动车销量的。预计锂钴下行周期仍有较长的路要走。本基金维持铜铝和黄金的重点配置，虽然美国经济持续超预期，最新一次的美联储会议也比预期更加鹰派，但高利率最终大概率会反噬经济，距离美联储结束加息的时间点是越来越近的，金融属性强的铜和黄金是时间的朋友。维持电解铝的重点配置主要因为国内电解铝产能已经触及政策设定的天花板，产能扩张已经受到了严格的抑制，一旦经济边际好转，电解铝行业会有较大的弹性。","declarationDate":"2023-10-23T16:00:00.000Z"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