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持了一些上游资源品。原材料价格的上涨对制造业利润有一定的挤压。适度布局一些上游资源品有助于防范原材料大幅上行的风险。另一方面，在我们的投资框架中，将估值的权重提升，深度价值选股，以应对未来的投资。　　报告期本基金仍然聚焦在高端制造板块，努力在电新、机械、汽车、电子等制造业中寻找机会。","declarationDate":"2024-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:25.257Z","mo":"展望下半年，外围市场即将进入降息周期，打开了国内政策空间，内需有望稳中向好。另一方面，虽然出海困难重重，但是长期看是必由之路，我们也将陪伴企业成长。","fund":{"_id":3000000006769,"stockCode":"006769","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2019-05-16T16:00:00.000Z","setUpScale":414957000,"market":"a","tickerId":6769,"custody":"招商银行股份有限公司","name":"长城研究精选混合型证券投资基金","shortName":"长城研究精选混合A","fundSecondLevel":"hybrid","__csrcFundId":6439,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.496Z","masterFundFlag":1,"inceptionDate":"2019-08-13T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城研究精选混合","pinyin":"ccyjjxhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"8801622204","stockType":"fund_manager","exchange":"fm","tickerId":1208198550,"name":"林皓"}]},"announcement":{"linkText":"长城研究精选混合型证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1154322","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeca097fea5b3eb049c318","date":"2024-03-30T16:00:00.000Z","stockId":3000000006769,"sao":"2024年1季度，量化产品爆仓导致市场出现流动性危机，中小盘股票受灾尤其严重。市场经历了深V反弹，整个1季度以小幅下跌收尾。本基金持仓股票主要集中在中证500、中证1000、中证2000等，受流动性影响相对较大，一季度情况表现不太理想。　　展望后市，商品价格持续上涨会带来资源股的业绩增厚，同时挤压制造业利润。我们认为有两个方向景气度会维持较长时间。一是出口型企业受益海外市场高景气高盈利，二是全球定价的资源品价格中枢持续上移。","declarationDate":"2024-04-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:25.254Z","fund":{"_id":3000000006769,"stockCode":"006769","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2019-05-16T16:00:00.000Z","setUpScale":414957000,"market":"a","tickerId":6769,"custody":"招商银行股份有限公司","name":"长城研究精选混合型证券投资基金","shortName":"长城研究精选混合A","fundSecondLevel":"hybrid","__csrcFundId":6439,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.496Z","masterFundFlag":1,"inceptionDate":"2019-08-13T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城研究精选混合","pinyin":"ccyjjxhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"8801622204","stockType":"fund_manager","exchange":"fm","tickerId":1208198550,"name":"林皓"}]},"announcement":{"linkText":"长城研究精选混合型证券投资基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1075242","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeca097fea5b3eb049c317","date":"2023-12-30T16:00:00.000Z","stockId":3000000006769,"sao":"2023年，A股高开低走。年初对于经济强劲复苏的乐观预期被每个月的宏观数据证伪。全年看只有高股息资产和以AI为代表的科技股有不错的表现。此外在宽松的货币环境和经济弱复苏的组合下，以人形机器人、苹果MR、卫星互联网等行业为代表的主题投资在全年看有不错的相对收益。　　本基金聚焦制造业投资，重点在机械、电新、汽车、电子等板块挖掘投资机会。在投资范围内，遗憾的是没有把握住AI的产业机会，导致最终全年业绩排名靠后，在此向投资者表达歉意。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:25.252Z","mo":"展望2024年，我们认为宏观经济在上半年依然面临较大压力，但是从下半年开始在低基数下会逐步企稳回升。A股目前的位置处于近5年的低位，估值水平在全球来看也是非常低的，我们相信这其中有大量被错杀的公司。　　在美股和港股这样全球资金定价的市场中，制造业的估值相比科技和消费是要低很多的。我国是个制造业大国，在制造业整体进入成熟期之后，上市公司的估值也正面临中枢下移的问题。在我们的投资框架中，会将估值的权重提升，深度价值选股，以应对未来的投资。　　本基金积极寻找受益于我国经济结构优化升级而实现成长的企业。高端装备和先进制造是本基金重点关注的投资领域。","fund":{"_id":3000000006769,"stockCode":"006769","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2019-05-16T16:00:00.000Z","setUpScale":414957000,"market":"a","tickerId":6769,"custody":"招商银行股份有限公司","name":"长城研究精选混合型证券投资基金","shortName":"长城研究精选混合A","fundSecondLevel":"hybrid","__csrcFundId":6439,"fundStatus":"normal","lastUpdated":"2024-12-31T23:39:45.496Z","masterFundFlag":1,"inceptionDate":"2019-08-13T16:00:00.000Z","fundCollectionId":4000050150000,"currency":"CNY","masterFundShortName":"长城研究精选混合","pinyin":"ccyjjxhhxzqtzjj","memoNum":1,"managers":[{"stockCode":"8801622204","stockType":"fund_manager","exchange":"fm","tickerId":1208198550,"name":"林皓"}]},"announcement":{"linkText":"长城研究精选混合型证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1056936","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeca097fea5b3eb049c316","date":"2023-09-29T16:00:00.000Z","stockId":3000000006769,"sao":"2023年3季度，市场震荡下行。在宽松的货币环境和弱复苏的组合下，依然是主题投资占优。三季度关注度高的板块，除了人工智能，就是华为mate60手机，带动了相关板块的炒作。地产迎来了历史级别的政策刺激，认房不认贷和首付比例下降都会激发出刚需，后续效果值得期待。  展望后市，我们认为具有无限想象空间，极高天花板的公司，依然会表现得更好。关注点也不一定局限于AI，类似机器人、MR、智能驾驶等领域可能会反复炒作。  本基金聚焦高端装备和先进制造。在控制好风险的基础上，持续挖掘符合产品定位的优秀的制造业企业。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:24:25.249Z","fund":{"_id":3000000006769,"stockCode":"006769","stockType":"fund","areaCode":"cn","followedNum":3,"blackenedNum":0,"status":"normal","exchange":"jj","fundType":"stock","ipoDate":"2019-05-16T16:00:00.000Z","setUpScale":414957000,"market":"a","tickerId":6769,"custody":"招商银行股份有限公司","name":"长城研究精选混合型证券投资基金","shortName":"长城研究精选混合A","fundSecondLevel":"hybrid","__csrcFundId":6439,"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