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表现强势，但Q2价值为代表的行业以及港股创新药则表现更好。  组合今年维持去年8-9月市场底部以来的看法，看好市场，侧重成长，科技优先。组合集中配置了港股互联网、半导体、计算机SAAS软件。目前来看，AI产业的技术变化仍在持续，算力的投入暂时没有放缓的迹象。我们认为随着算力效率提升与成本的下降，大量应用在未来涌现应该是值得期待的，这包括但不限于软件公司、端侧创新、智能驾驶、具身智能等。实际上，在港股市场也有好几个垂直领域的应用公司发展势头迅猛。越往后发展，我们更希望在各领域寻找有竞争力的AI应用公司，目前来看港股上市公司可能机会更多。因此，组合的港股持有比例也会较往年有所提升。","declarationDate":"2025-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:14:52.155Z","mo":"去年时，我们就做出2024年是股市的拐点之年，一方面AI等新兴产业趋势正在形成并加强，另一方面传统的周期行业跟随经济也有望在未来逐步降速放缓并触底。我们对中长期市场运行方向持乐观态度，并建议长期投资者可以择机配置权益资产。以目前跟踪的中观行业景气度看，我们认为科技作为主线的逻辑暂无变化。我们将继续关注以AI为代表的新兴产业趋势，争取在这一轮科技创新周期中获得更好的超额收益。","fund":{"_id":3000000004292,"stockCode":"004292","stockType":"fund","areaCode":"cn","followedNum":8,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2017-03-05T16:00:00.000Z","setUpScale":449714000,"market":"a","tickerId":4292,"custody":"中国农业银行股份有限公司","name":"鹏华沪深港互联网股票型证券投资基金","shortName":"鹏华沪深港互联网股票","fundSecondLevel":"company","__csrcFundId":1634,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:41.588Z","masterFundFlag":1,"inceptionDate":"2017-04-05T16:00:00.000Z","fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华沪深港互联网股票","pinyin":"phhsghlwgpxzqtzjj","managers":[{"stockCode":"8801594239","stockType":"fund_manager","exchange":"fm","tickerId":230817180280,"name":"王海青"}]},"announcement":{"linkText":"鹏华沪深港互联网股票型证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1339738","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec7cc7fea5b3eb0471e13","date":"2025-03-30T16:00:00.000Z","stockId":3000000004292,"sao":"市场在去年年底震荡下跌后，今年Q1以来上行，受到了包括DEEPSEEK及各大互联网厂商上调资本开支等催化，恒生科技以及A股TMT行业表现非常强势，其中国产算力及应用端表现最为突破；机器与汽车行业也围绕着机器人主线展开了如火如荼的行情。在此之外，部分周期行业如有色、钢铁、化工部分品种表现也较强。相应的，大消费表现弱势。  组合今年维持去年8-9月以来的看法，看好市场，侧重成长，科技优先。组合集中配置了港股互联网、半导体、计算机SAAS软件。今年我们的思路是在科技内部，减少了海外算力链与传媒的仓位，更多围绕着国产算力以及国产应用展开配置。同时，我们也适当地增加了具身智能领域中有基本面和业绩支撑的公司的配置。  随着算力效率提升与成本的下降，大量应用在未来的涌现应该是值得期待的，这包括电子产品的创新、AI软件应用、智能驾驶、具身智能。随着关税政策的变化，全球贸易及相关的出口链公司将面临不确定。我们会更侧重于国内市场，不过科技行业最大的推动力仍来自于创新，我们继续关注以AI为代表的新兴产业趋势，争取在这一轮科技创新周期中获得更好的超额收益。","declarationDate":"2025-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:14:52.145Z","fund":{"_id":3000000004292,"stockCode":"004292","stockType":"fund","areaCode":"cn","followedNum":8,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2017-03-05T16:00:00.000Z","setUpScale":449714000,"market":"a","tickerId":4292,"custody":"中国农业银行股份有限公司","name":"鹏华沪深港互联网股票型证券投资基金","shortName":"鹏华沪深港互联网股票","fundSecondLevel":"company","__csrcFundId":1634,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:41.588Z","masterFundFlag":1,"inceptionDate":"2017-04-05T16:00:00.000Z","fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华沪深港互联网股票","pinyin":"phhsghlwgpxzqtzjj","managers":[{"stockCode":"8801594239","stockType":"fund_manager","exchange":"fm","tickerId":230817180280,"name":"王海青"}]},"announcement":{"linkText":"鹏华沪深港互联网股票型证券投资基金2025年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1269538","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec7cc7fea5b3eb0471e12","date":"2024-12-30T16:00:00.000Z","stockId":3000000004292,"sao":"2024年是A股资本市场的触底转折之年，也是我们组合净值的拐点之年。在经历了过去2-3年的持续下跌之后，我们在24年较好地把握了市场的上下半年的机会，并交了相对满意的答卷。  A股市场在一季度开年时持续大跌，之后大幅反弹，二三季度进入调整；三季度末受政策催化爆发了历史上少见的强劲大反转，上证指数在短短半个月内上涨近1000点。市场波动巨大，并呈现明显的风格转化的特征。而港股恒生指数节奏明显提前于A股，恒指在24年1月见底，之后再也没有创新低，在二季度涨幅更大，且以互联网龙头为代表的个股凭借着扎实的基本面，也从年初逐步上涨，全年获得明显的超额收益。另外，港股高股息公司涨幅较A股也更为突出，因港股这类公司更为低估，获得了大量低风险偏好资金的青睐。  组合在上半年一方面增配了互联网的龙头。我们主要配置了港股互联网龙头、A股AI硬件产业链等板块。  但随着市场对红利股的配置在年中达到高峰，当时观察到市场已经缩圈到了极致，市场上基本只有水电、四大行、高速公路等典型红利股在上涨，而大量成长股都在底部。但从中报开始，我们观察到除了港股互联网龙头外，半导体设计等行业也已经出现业绩拐点。因此我们开始加大组合的弹性，一方面，我们增加了港股的仓位；另一方面，我们增加了更具弹性品种的配置，比如半导体、计算机SAAS软件、被动元器件等方向。这使得组合在9月底市场大涨时获得了较好的超额收益。","declarationDate":"2025-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:14:52.139Z","mo":"我们认为政府对于经济的态度已经转变，且现在已经有部分行业走出盈利逐步改善的趋势。从最新的一季报预告来看，越来越多优质的个股已率先于经济出现自身基本面的拐点。虽然市场从底部起来有较多反弹，但我们认为这才刚刚开始，仍有多数优质股票的股价具备较好性价比。值得一提的是，科技行业最大的推动力来自于创新，而以AI为代表的新兴产业趋势正在形成并逐步增加，且衍化速度越来越快，这对于本基金是非常难得的机遇期。我们将紧紧抓住产业发展的趋势与动向，争取在这一轮科技创新周期中获得更好的超额收益。","fund":{"_id":3000000004292,"stockCode":"004292","stockType":"fund","areaCode":"cn","followedNum":8,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2017-03-05T16:00:00.000Z","setUpScale":449714000,"market":"a","tickerId":4292,"custody":"中国农业银行股份有限公司","name":"鹏华沪深港互联网股票型证券投资基金","shortName":"鹏华沪深港互联网股票","fundSecondLevel":"company","__csrcFundId":1634,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:41.588Z","masterFundFlag":1,"inceptionDate":"2017-04-05T16:00:00.000Z","fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华沪深港互联网股票","pinyin":"phhsghlwgpxzqtzjj","managers":[{"stockCode":"8801594239","stockType":"fund_manager","exchange":"fm","tickerId":230817180280,"name":"王海青"}]},"announcement":{"linkText":"鹏华沪深港互联网股票型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?inst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明显提升。同样的结构性行情出现在港股市场；且流动性推动国内资金加大对港股的投资，港股部分新兴行业的龙头表现优异。  在2020年1月初接手组合后，我们结合组合的参照基准进行调仓，将多数仓位配置于与基金主题相吻合的互联网及相关领域的个股，并根据股票的性价比来决定在A股与港股的配置比例；2020年我们在港股配置的比例略高于A股。总体来看，我们在成长股部分主要增配了云计算与5G产业链、互联网经济、游戏与视频行业，并选取了部分优质较优秀的大消费个股进行长期布局。二季度时，组合在二季度低位加仓了新能源车、光伏。随着下半年疫情缓和后经济复苏，我们加仓了制造业投资端的个股。以上操作带来了组合明显的超额收益。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:14:52.084Z","mo":"展望2021年，随着疫情影响逐步消化，以及疫苗的推出，我们认为经济将逐步回归正轨。目前来看，经济仍将延续复苏的态势，但政策也将逐步回到正常状态，流动性或难以像2020年那么宽松，因此企业估值或难以再明显提升。不过港股因受到海外市场更大，或许流动性表现会好于A股。目前港股优质企业的估值也较A股更有优势。因此，2021年我们会适当加大在港股的配置比例。  我们看好的方向仍集中在包括云计算产业链、互联网经济、消费与医药龙头、新能源、消费电子等有成长空间的行业。值得高兴的是，海外不少龙头将逐步回归港股，并进入港股通，成为我们可选的标的。这些标的多数集中于新兴的领域，特别是互联网行业。我们相信新兴行业中仍有较多的发展机会。  长期来看，本组合仍会体现明显的成长风格。我们依旧会将仓位集中于有成长性的子行业中的龙头公司，来获得长期的超额收益。我们认为2021年选股将变得更难，不过我们仍将通过深入研究来找到符合我们投资理念且估值合理的标的，希望通过企业不断成长来获得收益。","fund":{"_id":3000000004292,"stockCode":"004292","stockType":"fund","areaCode":"cn","followedNum":8,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2017-03-05T16:00:00.000Z","setUpScale":449714000,"market":"a","tickerId":4292,"custody":"中国农业银行股份有限公司","name":"鹏华沪深港互联网股票型证券投资基金","shortName":"鹏华沪深港互联网股票","fundSecondLevel":"company","__csrcFundId":1634,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:41.588Z","masterFundFlag":1,"inceptionDate":"2017-04-05T16:00:00.000Z","fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华沪深港互联网股票","pinyin":"phhsghlwgpxzqtzjj","managers":[{"stockCode":"8801594239","stockType":"fund_manager","exchange":"fm","tickerId":230817180280,"name":"王海青"}]},"announcement":{"linkText":"鹏华沪深港互联网股票型证券投资基金2020年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=556136","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec7cc7fea5b3eb0471e01","stockId":3000000004292,"sao":"三季度，A股市场呈震荡走势，港股震荡下行，受此影响，组合净值出现波动。  三季度的经济数据呈现出国内复苏的态势，这些数据在多数的中游行业以及部分的上游行业中均得到中观与微观的验证，其背后不仅是基建受益财政政策的放松、地产的韧性，也来自于部分制造业行业投资的回暖。基于此，我们适当增加了对部分周期成长股的配置，主要集中于电力设备，同时我们也新增在军工行业的投资。对于我们一直看好的互联网经济、光伏、新能源车、云计算、消费电子龙头，我们仍继续保持较为集中的配置。随着部分消费与医药龙头的调整，我们相信在下半年仍会有加仓的机会。  后续我们将继续加大在新股与次新股的研究，以期能够找到更多值得配置的方向。长期来看，我们依旧会集中于有成长性的子行业中的龙头公司，追求长期超额收益。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-27T16:00:00.000Z","lastUpdated":"2026-03-09T13:14:52.081Z","fund":{"_id":3000000004292,"stockCode":"004292","stockType":"fund","areaCode":"cn","followedNum":8,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2017-03-05T16:00:00.000Z","setUpScale":449714000,"market":"a","tickerId":4292,"custody":"中国农业银行股份有限公司","name":"鹏华沪深港互联网股票型证券投资基金","shortName":"鹏华沪深港互联网股票","fundSecondLevel":"company","__csrcFundId":1634,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:41.588Z","masterFundFlag":1,"inceptionDate":"2017-04-05T16:00:00.000Z","fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华沪深港互联网股票","pinyin":"phhsghlwgpxzqtzjj","managers":[{"stockCode":"8801594239","stockType":"fund_manager","exchange":"fm","tickerId":230817180280,"name":"王海青"}]},"announcement":{"linkText":"鹏华沪深港互联网股票型证券投资基金2020年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=493905","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aec7cc7fea5b3eb0471e00","stockId":3000000004292,"sao":"受疫情影响，市场在一季度出现大幅波动。随着疫情在海外的扩散，市场对后续全球经济的担忧加大，导致港股比A股出现更大幅度的回调；其中多数成长股大幅回撤，资金避险情绪增强。不过市场在二季度震荡上行，结构性行情特征仍明显；港股也呈现逐步上行的态势。总体看，国内外在疫情后的政策发力，逐步带来了经济基本面的企稳与修复，市场风险偏好也有所提升。近期疫情仍有所反复，部分受到疫情影响明显的行业，短期内仍无法正常运行；因此我们认为经济中各行业的分化也将会延续。  我们结合组合的参照基准进行调仓，将多数仓位配置于与基金主题相吻合的互联网及相关领域的个股，并根据股票的性价比来决定在A股与港股的配置比例。总体来看，我们在成长股部分主要增配了云计算与5G产业链、互联网经济、游戏与视频行业，并选取了部分较优秀的大消费个股进行长期布局。  组合在二季度低位加仓了新能源车、光伏、银行IT行业；随着市场风险偏好与成交量的上行，我们对互联网金融的个股也有所增配。以上配置也带来了较明显的超额收益。  长期来看，本组合仍会坚持以上策略，并会体现明显的成长风格。我们依旧会将仓位集中于有成长性的子行业中的龙头公司，来获得长期的超额收益。","date":"2020-06-29T16:00:00.000Z","declarationDate":"2020-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:14:52.078Z","mo":"近期疫情仍有所反复，部分受到疫情影响较大的行业，短期内仍可能无法正常运行；因此我们判断各行业间的分化将会延续，市场或将更多呈现结构性的行情。  我们较为看好包括云计算产业链、互联网经济、新能源、消费电子与半导体、消费与医药龙头等方向的长期发展潜力。这些行业的发展空间广阔，景气度高，行业中的龙头公司竞争力十足。我们认为这些方向将会是组合重要的投资机会来源。  在目前时点，我们认为仍能够通过深入的研究来找到符合我们投资理念且估值合理的标的。因此我们认为市场仍存在一定的投资机会，随着估值水平已经出现上移，未来我们在选股方面会更加审慎。  我们欣喜地看到，许多中国的优秀公司目前正在回归港股市场，未来有望被纳入港股通，成为我们可投资的标的。这些公司多数集中于新兴产业，例如互联网行业。我们相信新兴产业仍有较大的发展空间。我们会加大在这些领域的研究，以期找到更多机会，为投资者创造价值。","fund":{"_id":3000000004292,"stockCode":"004292","stockType":"fund","areaCode":"cn","followedNum":8,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2017-03-05T16:00:00.000Z","setUpScale":449714000,"market":"a","tickerId":4292,"custody":"中国农业银行股份有限公司","name":"鹏华沪深港互联网股票型证券投资基金","shortName":"鹏华沪深港互联网股票","fundSecondLevel":"company","__csrcFundId":1634,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:41.588Z","masterFundFlag":1,"inceptionDate":"2017-04-05T16:00:00.000Z","fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华沪深港互联网股票","pinyin":"phhsghlwgpxzqtzjj","managers":[{"stockCode":"8801594239","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