window.pageData = {"stock":{"_id":3000000007861,"stockCode":"007861","shortName":"金元顺安医疗健康混合A类","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50580000","tickerId":50580000,"name":"金元顺安基金管理有限公司"},"managers":[{"name":"陈铭杰","stockType":"fund_manager","stockCode":"db20919735","exchange":"fm","tickerId":31310238610},{"name":"张海东","stockType":"fund_manager","stockCode":"j101020453","exchange":"fm","tickerId":260804258430}],"hotMetrics":{"fss":{"stockId":3000000007861,"type":"fss","f_s_s_d":"2024-06-29T16:00:00.000Z","f_ins_h_s_r":0.3822,"f_ins_h_s_r_c_hy":0.06619999999999998,"f_ins_h_s_r_c_1y":0.2095,"f_ind_h_s_r":0.6178,"f_ind_h_s_r_c_hy":-0.06620000000000004,"f_ind_h_s_r_c_1y":-0.20950000000000002,"f_h_a":974,"f_h_s_a":55885,"last_data_date":"2025-06-29T16:00:00.000Z"},"fpr":{"stockId":3000000007861,"type":"fpr","f_p_r_fys_ssc":8993,"f_p_r_fys_ssrp":0.881450177935943,"f_p_r_m1_ssc":9219,"f_p_r_m1_ssrp":0.9713603818615751,"f_p_r_m3_ssc":9098,"f_p_r_m3_ssrp":0.6277893811146532,"f_p_r_m6_ssc":8808,"f_p_r_m6_ssrp":0.9341432951061656,"f_p_r_y1_ssc":8335,"f_p_r_y1_ssrp":0.8782097432205423,"f_p_r_y2_ssc":7729,"f_p_r_y2_ssrp":0.9887422360248447,"f_p_r_y3_ssc":6933,"f_p_r_y3_ssrp":0.9982688978649741,"f_cagr_p_r_fs_ssc":9145,"f_cagr_p_r_fs_ssrp":0.9977034120734908},"fp":{"stockId":3000000007861,"type":"fp","f_p_r_fys":-0.00440937572522615,"f_p_r_m1":-0.029192124915139228,"f_p_r_m3":0.002336448598130758,"f_p_r_m6":-0.06434023991275906,"f_p_r_y1":0.04025218234723549,"f_cagr_p_r_fs":-0.16207258675254632,"f_p_r_d1":0.002600472813238719,"f_p_r_y2":-0.1669902912621366,"f_p_r_y3":-0.3888888888888893,"last_data_date":"2026-05-11T16:00:00.000Z"},"ff":{"stockId":3000000007861,"type":"ff","f_m_f":188686,"f_m_f_r":0.012,"f_c_f":15723,"f_c_f_r":0.001,"f_m_a_c_f":204409,"f_m_a_c_f_r":0.013000000000000001,"f_m_c_f_d":"2024-11-01T16:00:00.000Z","f_c_fr":0.001,"f_fr_d":"2025-10-31T16:00:00.000Z","f_m_fr":0.012,"f_mac_fr":0.013000000000000001},"f_nlacan":{"stockId":3000000007861,"type":"f_nlacan","f_nv_d":"2026-05-11T16:00:00.000Z","f_nv":0.429,"f_nv_cr":-0.014246323529411797},"f_as":{"stockId":3000000007861,"type":"f_as","f_tas":15779506.618199999,"f_tas_d":"2026-03-30T16:00:00.000Z"}},"masterSlaveFunds":[{"_id":3000000007862,"name":"金元顺安医疗健康混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","exchange":"jj","stockCode":"007862","tickerId":7862,"shortName":"金元顺安医疗健康混合C类","currency":"CNY","__csrcFundId":9170,"lastUpdated":"2025-01-04T00:32:01.409Z","inceptionDate":"2021-07-28T16:00:00.000Z","fundCollectionId":4000050580000,"followedNum":1,"status":"normal","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":207216014.43,"setUpShares":207216014.43,"masterFundFlag":null,"activeFundFlag":null,"classificationFlag":null,"closedEnd":null,"etfFundFlag":null,"feederFundFlag":null,"indexFundFlag":null,"lofFundFlag":null,"pensionTargetFlag":null,"pinyin":"jysayljkhhxzqtzjj"}],"shareholdings":[{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":688336,"holdings":17534,"marketCap":1325219,"netValueRatio":0.0393,"quarterlyChange":0.2687594426724862,"stock":{"stockCode":"688336","tickerId":688336,"exchange":"sh","stockType":"company","name":"三生国健"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":2422,"holdings":32300,"marketCap":1120487,"netValueRatio":0.0332,"quarterlyChange":0.1819420783645651,"stock":{"stockCode":"002422","exchange":"sz","stockType":"company","tickerId":2422,"name":"科伦药业"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":688506,"holdings":3864,"marketCap":1074192,"netValueRatio":0.0319,"quarterlyChange":-0.13958526771897228,"stock":{"name":"百利天恒","exchange":"sh","stockType":"company","stockCode":"688506","tickerId":688506}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":688578,"holdings":10651,"marketCap":1022496,"netValueRatio":0.0303,"quarterlyChange":-0.07825252040326536,"stock":{"stockCode":"688578","tickerId":688578,"exchange":"sh","stockType":"company","name":"艾力斯"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":603456,"holdings":59000,"marketCap":1015980,"netValueRatio":0.0301,"quarterlyChange":-0.03798882681564242,"stock":{"stockCode":"603456","exchange":"sh","stockType":"company","tickerId":603456,"name":"九洲药业"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":688166,"holdings":20557,"marketCap":996397,"netValueRatio":0.0296,"quarterlyChange":-0.012026090501427,"stock":{"stockCode":"688166","tickerId":688166,"exchange":"sh","stockType":"company","name":"博瑞医药"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":688180,"holdings":28400,"marketCap":989172,"netValueRatio":0.0293,"quarterlyChange":0.01961358313817363,"stock":{"stockCode":"688180","tickerId":688180,"exchange":"sh","stockType":"company","name":"君实生物"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":300759,"holdings":34300,"marketCap":959714,"netValueRatio":0.0285,"quarterlyChange":-0.015828350334153862,"stock":{"stockCode":"300759","exchange":"sz","stockType":"company","tickerId":300759,"name":"康龙化成"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":688062,"holdings":26374,"marketCap":949727,"netValueRatio":0.0282,"quarterlyChange":-0.06394593189498277,"stock":{"stockCode":"688062","tickerId":688062,"exchange":"sh","stockType":"company","name":"迈威生物"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockId":688321,"holdings":33200,"marketCap":948524,"netValueRatio":0.0281,"quarterlyChange":-0.022245037645448607,"stock":{"stockCode":"688321","exchange":"sh","stockType":"company","tickerId":688321,"name":"微芯生物"}}],"bondHoldings":[{"_id":"69e8f9af1398d79843001130","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000007861,"stockCode":"019792","stockName":"25国债19","holdings":19000,"marketCap":1914348,"netValueRatio":0.0568,"lastUpdated":"2026-04-22T16:39:11.576Z"}],"lastFsMetrics":{"latestTurnoverRate":4.798188354743803,"latestTurnoverRateDate":"2025-06-29T16:00:00.000Z"}},"list":[{"_id":"69e8eaf11398d79843fe8d01","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","stockId":3000000007861,"sao":"2026年一季度，医疗健康板块震荡走平，但内部波动和分化明显加大。开年后创新药产业链、技术创新方向（脑机接口、AI医疗）在盘整许久后迎来反弹，但持续性受到了资源品、科技板块热度的阻击，整个医疗健康板块也随之震荡回落。此后美伊冲突开始发酵，市场交易重心转向地缘政治带来的高度不确定性上，权益市场明显承压，而在市场充分为风险定价后，处于上行周期的创新药产业链率先反弹，估值持续修复。报告期内，坚持医疗健康策略主线的长期投资策略。在配置思路上，精选创新药核心标的，兼顾产业链上下游、医药医疗的结合；在仓位思路上，综合考虑季节周期和行业景气的共振，灵活调整仓位；在选股思路上，聚焦主题的同时适度分散个股配置。中期维度看，我们看好创新药的投资机会。一是中国创新药领域的工程师红利正在显现，全球竞争力和研发效率显著提升；二是在国际高通胀和较高利率的环境下，国内优秀药企的研发成本明显具有国际竞争力；三是创新药的景气度仍处于中周期上行期，A股相关板块的短期调整时间和调整个幅度相对充分，估值优势明显；四是政策端利好加持，在十五五规划中被明确为关系国计民生和国家安全的战略性新兴产业，是国家重点打造的新兴支柱产业之一。参考国际发达地区，医疗健康在社会发展中的需求持续增加，具备优秀的长期投资价值。","lastUpdated":"2026-04-22T15:36:17.210Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2026年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1476366","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9f0","date":"2025-12-30T16:00:00.000Z","declarationDate":"2026-01-21T16:00:00.000Z","stockId":3000000007861,"sao":"2025年四季度，医疗健康板块呈现震荡回落的格局，内部子板块间亦出现明显分化，其中前期表现较好的创新药主题调整较多，甚至出现出海落地股价负反馈的情况，而流通、中药等防御性子板块下跌相对较少，个别医疗健康热点出现了短期反弹机会，如流感、蚂蚁阿福等。报告期内，对持仓策略进行优化。在整体仓位上，保持整体高仓位的风格不变，精选个股；在持仓风格上，趋向于个股分散，个股持仓之间尽量保持相对平衡；在选股策略上，以具有核心竞争力的创新药龙头和新科技为主要标的。我们认为目前中国创新药的国际竞争实力已经逐步确立，后续随着产业融资模式的逐步完善，预计会出现具有长期竞争能力的国际大型企业。在人类社会追求发展的过程中，对自身健康的诉求会贯穿始终，随着国内内需政策的完善，预计会实现出海与内需的良性循环。从国际对比看，医疗健康具备长期可持续投资回报的特征。","lastUpdated":"2026-03-09T13:28:59.551Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2025年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1456156","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9ef","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000007861,"sao":"2025年三季度，医疗健康板块估值经历了7月显著抬升、8月震荡和9月小幅回落的过程，整体取得了较为不错的收益，市场情绪在季初创新药继续上行的过程中进一步升温，并且明显扩散到了产业链的上游，创新药内部的热度在优秀出海标的、具有创新属性的大药企、研发早期转型企业之间相互切换。不过短期的估值快速上行也加剧了医疗健康子板块之间的分歧，由于基本面改善趋势的原因，沉寂了较长时间的低位医疗器械和耗材在创新药震荡和回落的过程中出现了补涨，但消费属性的医疗服务、中药和疫苗等子行业表现平平。在新兴技术方向，脑机接口在工信部政策支持和海内外临床进展影响下短暂走强，但AI医疗仍然处于盘整过程。本季度内，本基金始终坚持精选绩优股的策略，重点配置了创新药及其产业链，股票仓位基本保持在较高水平，集中度略有提升。报告期内，医疗健康板块估值快速走高后震荡并小幅回落，提示了市场参与人对创新药行情的分歧，但是从医疗健康板块的不同子行业的周期上判断，创新药及产业链仍然是为数不多处于产业向上大周期内的子板块，长期的价值会随着时间的推移不断兑现。同时我们也会适当关注业绩出现拐点的医疗器械、耗材板块，以及跟随政策刺激利好的消费类题材。作为不断加剧的老龄化社会，以及具有大量生物医药人才的社会积累，医疗健康板块不断增长的需求和不断提升的创新竞争力是具有长期性的，我们始终看好该板块的投资价值。我们将继续保持较高水平的股票仓位，精选优质医药股，努力为持有人创造长期投资回报。","lastUpdated":"2026-03-09T13:28:59.548Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2025年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1379137","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9ee","date":"2025-06-29T16:00:00.000Z","stockId":3000000007861,"sao":"回顾2025年上半年，医疗健康市场估值震荡回升，沉寂了4年多的板块情绪在创新药的带领下出现了明显修复。具体来看，年初虽然整个权益市场小幅回落，但春节期间爆火的DeepSeek反应了市场对国内自主高科技的超预期肯定，并拓展延伸到各个应用方面，特别是具有降本增效、能够资源下沉的AI医疗，在价值重估的过程中走出了今年医疗健康板块的第一波行情，同时带动了整个市场风险偏好的同步上升。随后创新药在政策支持力度持续加码、BD出海不断新增的过程中逐渐走成板块主线，虽然期间受到了美国关税战、特朗普控制药价等外部因素扰动，但整个报告期内创新药估值的回升始终强势。究其原因，中国创新药产业链在前期资本投入、工程师红利、丰富的临床资源和政策支持共振下已经逐渐步入收获期，国产创新药无论是质量还是数量都已在全球占据一席之地，并受到了MNC的认可，产业支付端的上限已经被打开。报告期内，本基金继续采用精选绩优股的策略，重点增加了创新药的配置比例，并适当增配创新药产业链上游，股票仓位基本保持在较高水平，集中度有所抬升。","declarationDate":"2025-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.543Z","mo":"报告期内，创新药估值强势抬升，明显领先于其他子板块，展望后市，我们坚持看好整个医疗健康市场的估值修复。从长期的角度来看，创新药产业链步入收获期，医保商保增厚国内支付端、海外MNC对国产创新药对外授权的需求持续存在，因此即使短期创新药子板块出现分歧，我们认为优质的资产会在长期产生超额收益。同时，在创新药行业的带动下，产业链上游的试剂、仪器、耗材、代工、安评等关联行业会逐渐回暖，相关底部个券也可能迎来估值的修复。器械耗材方面，虽然库存仍然存在一定压力，但招采数据持续回暖，政策端集采“反内卷”支持下也有望底部反转。在经历了4年的下跌之后，除创新药外的其他大部分子板块都处于历史相对低位，后续也将受益于市场回暖的过程中。我们将继续保持较高水平的股票仓位，精选优质医药股，努力为持有人创造长期投资回报。","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1349163","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9ed","date":"2025-03-30T16:00:00.000Z","stockId":3000000007861,"sao":"2025年一季度，医疗健康板块呈现探底回升后震荡横盘格局。内部仍然处于轮动格局，年初小市值个券表现稍好，随后在以DeepSeek为代表的自主高科技引领下，AI+医疗迎来估值重定价，这一过程中整个市场的风险偏好出现回升，CXO等受到压制的子板块估值同步抬升，在政策端医保局对创新药支付端的支持下，创新药子板块的估值得到明显修复，而由于整体消费能力的不足，其他子板块例如中药、医疗服务的公司股价仍然在箱体运动，器械设备等领域也未见超预期改善，因此整个市场出现了结构性轮动行情。一季度内，本基金始终坚持精选绩优股的策略，在医疗健康不同子板块间切换权重，股票仓位基本保持在较高水平，集中度略有提升。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.540Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2025年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1273908","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9ec","date":"2024-12-30T16:00:00.000Z","stockId":3000000007861,"sao":"回顾2024年，医疗健康板块表现显著落后于整个权益市场，全年经历较大波动后板块估值较2023年继续承压，市场参与度处于历史相对低位。年内阶段性反弹主线的持续性较弱，且子板块间轮动较快，在整个震荡下跌过程中赚钱效应相对不强，进一步加剧了市场情绪的低迷。在近似存量甚至减量的板块投资博弈特点下，负面因素的影响被明显放大，比如美国《生物安全法》的提出和推进，虽然在年末告一段落，但CXO和上游的估值并未修复。在医保资金严监管、合规运作的大基调下，药店比价行动的推出、常态化创新药、设备、耗材进院的反腐，不仅考验着企业的经营合规性，也考验着投资者对整个子板块的信心。而宏观大背景下消费端增长的疲软，导致了9月底医疗消费类子板块因政策预期快速回升后，又逐渐向弱现实回归。究其根本，2024年医疗健康板块企业业绩仍然受制于支付端增长的乏力，整个板块在底部区间运行。报告期内，本基金继续采用精选绩优股的策略，在不同子板块间进行切换配置，股票仓位基本保持在较高水平，集中度相对不高。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.537Z","mo":"展望2025年，医疗健康板块在经历了4年左右的调整后，估值水平已经运行到较高的投资价值区间，而且更重要的是板块整体的基本面很有可能迎来好转，公司业绩的长期掣肘——支付端增长乏力的桎梏有望在2025年被打破。在严肃医疗领域，除却本轮创新周期已发展到不断扩大的收获期这一固有利好外，政策端也在不断加码，如全链条支持创新药发展实施方案的推进、医保局丙类目录的形成和推出，国产设备、器械、耗材的替代加速，大规模设备更新的需求，都将在2025年孕育新一轮的增长。在消费医疗领域，随着宏观经济的复苏回升，整个社会的消费需求将出现显著回暖，且经历过去年的企业合规性考验后，本轮的增长会更为坚实和稳固。此外，老龄化社会加速下的“银发经济”不仅具有广大的社会需求基础，也获得了多部委的政策支持和肯定，成为消费提振的重要组成部分，后续将不断迎来加速。春节期间爆火的人工智能，实质上是国内高科技发展从量变到质变的缩影，也是全球投资者对国内自主科技类企业的高度肯定。投射到医疗健康领域，训练材料、智能算法和算力存储这三要素已经逐渐积累到爆发的边缘，AI技术对医疗的赋能将进入水到渠成的阶段。因此我们非常看好医疗健康板块在2025年的投资价值和机会，特别是创新、养老、和人工智能等具有产业催化的子板块反向。我们将继续保持较高水平的股票仓位，精选优质医药股，力求为持有人创造长期投资回报。","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1252634","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9eb","date":"2024-09-29T16:00:00.000Z","stockId":3000000007861,"sao":"2024年三季度，医疗健康板块估值经历了进一步的震荡压缩后，在月底政策面发力的利好下迅速修复，市场情绪由长期低迷直接转向高度亢奋，股价呈现连日加速普涨的罕见格局。其中长期受到预期疲软压制的消费医疗类资产的表现最为优异、估值处于底部的CXO公司在《生物安全法》进展受阻的利多叠加下表现也格外亮眼。除季末这波主升浪外，其余时间医疗健康板块几乎没有主线行情，基本面上季初的半年业绩因去年高基数而使市场风声鹤唳，一旦不及预期估值猛烈杀跌；政策面里医保资金的严监管考验着企业经营的合规性，地方集采扩面试点弱化了市场预期；海外方面，投融资的小幅回升在低迷的市场背景下对创新药产业链的提振有限，而美国加征301关税又打击了低值耗材的出海；此外，临时性事件短暂升高了对应标的的估值，但也很快退潮，如非洲猴痘的小幅爆发、个别公司的骨科齿科替换材料丑闻和赛诺菲停售国内流感疫苗等。本季度内，本基金始终坚持精选绩优股的策略，在不同子版块里进行切换，股票仓位基本保持在较高水平，集中度略有提升。报告期内，医疗健康板块估值在季末快速抬升，整季度看表现虽然处于市场中游水平，但较年初至今的落后位置已有明显好转，是市场对政策扶持方向的直接反馈。虽然医疗政策、地缘政治和投融资情况等因素会扰动医疗健康板块的市场表现，但其估值的回升会随着整体性刺激政策的不断推进和落地逐步兑现，子版块间的差异也会在此期间逐步积累。医疗健康需求的高质量、高增长的社会属性是长期存在的，我们始终看好该板块的投资价值。我们将继续保持较高水平的股票仓位，精选优质医药股，努力为持有人创造长期投资回报。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.534Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2024年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1176573","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9ea","date":"2024-06-29T16:00:00.000Z","stockId":3000000007861,"sao":"回顾2024年上半年，医疗健康板估值继续压缩，虽然期间出现了阶段性反弹，但各子版块间快速轮动，市场环境面临诸多挑战，难以走出持续主线。低迷的市场情绪显著削弱了利多因素的市场反馈，如年初多种呼吸道疾病交替流行所促进的检测和自我诊疗需求，一季度业绩确定性较好的中药和流通企业，国资委市值管理要求下的国企央企，政策利好的合成生物学概念标的，部分产品的集采规则温和友好等，虽然对应子版块迎来阶段性上涨，但持续性较弱，还有5月份的ICU设备、医美、辅助生殖等子版块政策利好，却表现为利多兑现。而不利因素又加剧了整个权益市场对医疗健康版块的估值担忧，如美国《生物安全法》的推进，去年部分子版块较高的二季度业绩基数，医保局展开的药店比价行动等。此外，医疗健康板块也受到整个权益市场大小市值分化的影响，加剧了板块的波动和歧化。因此2024年上半年医疗健康市场明显承压，表现不佳，在非医药类基金的配置比例进一步下降。报告期内，本基金继续采用精选绩优股的策略，在不同子版块间进行切换配置，股票仓位基本保持在较高水平，集中度相对不高。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.531Z","mo":"报告期内，医疗健康板块估值处于历史较低分位数，表现落后于其他版块。但是从中长期来看，整个社会对医疗健康资源的高增长、高质量需求的基本逻辑没有发生变化，人口结构的老龄化加速了市场需求的扩大，因此我们坚定看好医疗健康版块的长期投资价值。从卫健委、国家药品监督管理局、医保局和海外医药卫生监管机构的数据来看，我国的医疗健康行业已经进入新的高质量发展周期，创新产品逐渐进入兑现期，不仅在国内对高端产品进行替代，也同时对海外持续输出、扩大了国际市场，形成了良好的正向循环。当下医疗健康版块的估值已经很低，整个行业的需求长期向好，且部分子版块去年三季度业绩基数较低，医疗健康板块有望迎来反转。我们将继续保持较高水平的股票仓位，精选优质医药股，努力为持有人创造长期投资回报。","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康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=1151569","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e9","date":"2024-03-30T16:00:00.000Z","stockId":3000000007861,"sao":"2024年一季度，医疗健康板块大幅下跌后反弹震荡，但距离年初高点仍有一定距离。市场情绪大部分时间比较低迷，对上市公司基本面的负向变化容忍度非常低，美国《生物安全法》的提出和推进使涉及公司股价大幅下挫，并将恐慌扩散到整个CXO板块；受益于开年后多种呼吸道疾病交替流行的检测和自我诊疗板块，虽然在市场修复时显著走强，但季末市场下跌时回调较多；央企、国企较多的中药和流通板块业绩确定性较强，又叠加国资委市值管理的要求，表现相对较好；在新质生产力的政策框架下，率先有政策支持的创新药板块在季末估值出现抬升，但持续性分化。除细分领域间基本面不同导致的子版块差异外，个股市值大小也是本季度内股价波动的重要影响因素，大市值权重股在开年后市场下跌期间表现相对坚挺，反弹时修复力度强于小市值个券，而后者的弹性更强，市场回暖时涨幅显著领先前者。报告期内，医疗健康板块估值进一步下探，已处于历史较低分位数。本基金始终看好社会对医疗健康长期增长的需求，在一季度内适当进行调仓，增配了自主可控、政策利好的板块比例，并精选估值较为合理、业绩有持续增长潜力的优质个股，股票仓位维持在较高水平，集中度相对较低。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.528Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1074080","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e8","date":"2023-12-30T16:00:00.000Z","stockId":3000000007861,"sao":"回顾2023年，医疗健康板块整体表现欠佳。细分到内部子版块，全年医疗健康的主线在同一时刻基本只能维持在单一领域，并不能形成共振普涨的局面。由于受到基本面、政策面、地缘政治博弈、投融资变化、呼吸道疾病流行变化和海外大单品等因素的影响，医疗健康的各个子领域表现不尽相同。上半年除了受到政策鼓励和业绩受益于疫情放开后对解热镇痛类药品需求提升的中药股和医药流通股外，其他子版块表现不尽如人意，受到医药投融资下降拖累、引发降价潮的CXO版块更是跌近四分之一；下半年初始医药投融资边际回暖，前期大跌的CXO终于缓慢回升，但也只收复了全年跌幅的一半，在年末又受到药明生物下修行业增速影响再次步入下行通道；三季度开始的医疗反腐使市场对医疗器械和制药企业产生了明显的规避行为，其股价大幅回落，最终在出海逻辑的帮助下才于年末回到二季度末的位置；年终阶段呼吸道疾病卷土重来，但与年初相比，自我诊疗相关的中药、药店、流通、诊断等标的表现又明显不同。报告期内，本基金继续采用精选绩优股的策略，股票仓位基本保持在较高水平，集中度相对不高。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.525Z","mo":"展望2024年，整个社会对医疗健康长期增长的需求逻辑没有发生改变，随着居民对医疗认知的深入和收入的增加，以及新中国第二批婴儿潮的60后正在加速老龄化社会的进展，高质量的临床需求和优质医疗服务明显未能满足当下所需，创新药、械和消费医疗有着巨大的潜在市场。从政策端来看，经历了多轮的集采正在走向缓和，大品类基本全面覆盖，简易续约规则、重新谈判规则的出台，推进新药纳入医保的措施，将形成患者和市场双赢的局面。去年三季度开始的医疗反腐影响我们预计在今年会逐渐出清。从技术层面看，国内创新药、械在23年已有多款获批上市，其中有部分已经迈入全球前列，并受到海外跨国药企的青睐，形成了良好的正向循环。而国内创新药企业从16年始逐渐加速发展，按8-9年的新药研发周期估计，未来几年创新药正逐渐步入兑现期。在集采的影响下，药、械的出海已经在多年前提前布局，正在进入逐渐放量的阶段。从海外的影响看，海外药企新靶点、新技术和新药王的出现和更替也会引导国内对应产业链的蓬勃发展，如多靶点的减肥药、基因疗法、阿兹海默和非酒精性脂肪肝炎等疾病的诊断、治疗等，但是要警惕地缘政治的影响、以及关注海外投融资的变化。从估值角度看，医疗健康版块经过近3年的压缩后，已经处于历史较低分位，同时也观察到市场上开始出现不少并购事件，提示版块继续向下的空间有限。因此从中长期的维度看，当下的医疗健康版块存在较好的配置价值，我们在未来将保持较高水平的股票仓位，继续精选优质医药股，力求为持有人创造长期投资回报。","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康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=1058452","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e7","date":"2023-09-29T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金依然延续优选绩优股的策略，精选医疗健康板块中风险释放比较充分、估值偏低、未来基本面有望持续受益行业政策边际回暖和相对充裕的流动性环境的个股，目前整体股票仓位在85%左右，股票集中度适度。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.522Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=990537","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e6","date":"2023-06-29T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金依然延续优选绩优股的策略，自下而上挖掘和配置医疗健康板块中估值相对合理、业绩确定性较高的个股，前期小幅降低了中成药板块的持仓比例，目前整体股票仓位在80%左右，股票集中度适度。","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.519Z","mo":"上半年，A股市场集中炒作AI相关热门题材引发资金“虹吸效应”，加上上半年尤其是二季度数据显示国内经济复苏节奏低于预期，伴随美联储持续加息影响医疗板块投融资热情，多重因素影响下医药板块整体投资情绪低迷，跟随市场震荡调整，创新药产业链和医疗消费板块明显受恐慌和避险情绪影响更大，而有业绩和中特估双重逻辑支撑的中成药板块走势相对强劲。当前，医药板块估值又回到历史偏底部区间，机构配置比例仍然不高。与此同时，市场对美联储加息预期负面影响逐渐出清，国内药品集采政策继续呈现边际回暖趋势，院内复苏持续推进，前期因悲观情绪错杀的医疗消费和创新药械板块有望率先开启估值修复行情。继续重点看好以下几方面：（1）研发团队实力强、产品管线丰富或已经经历过带量采购和医保谈判等政策冲击后完成穿越周期使命迎来确定性增长的品牌药企；（2）业绩确定性强且持续受到政策扶持的中药板块：（2）通过前瞻布局上游原材料和核心设备自主可控、新建产能充足，可持续依托研发和制造实力不断承接头部药企产能转移的国内CDMO企业；（3）自主可控、有望逐步实现国产替代诉求的上游科学服务产业以及头部疫苗企业；（4）通过研发扩张产品矩阵从而实现多样化消费需求的医疗服务和创新医疗器械企业。","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=963651","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e5","date":"2023-03-30T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金依然延续优选绩优股的策略，自下而上挖掘和配置医疗健康板块中估值相对合理、业绩确定性较高的个股，目前整体股票仓位在90%左右，股票集中度适度。","declarationDate":"2023-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.517Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=888743","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e4","date":"2022-12-30T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金继续遵循精选绩优股的策略，即使在市场情绪极度悲观的情况下，依然坚定看好医药板块内部结构性投资机会，并在板块估值底部，及时把握因集采政策边际回暖、新冠疫情防护需求提升而带来的板块反弹机遇，始终坚持自下而上挖掘和加大配置医疗健康板块中估值合理、业绩确定性更强的个股。目前整体股票仓位在90%左右，股票集中度适度。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.514Z","mo":"疫情放开初期，市场关注点仍然围绕疫情预防、治疗、危重症救治等主线，相关药品、器械上市公司和药店、互联网医疗等线上、线下销售渠道获益明显。伴随全社会防治经验不断积累和完善，疫情影响将逐渐弱化，常规诊疗和改善性的高端消费医疗需求预计将快速复苏。除此之外，疫情放开后全球通航也将有利于前期放缓的创新药企国际化进程重启或加快，流动性环境边际改善的预期也有助于一级市场投融资回暖，推动前期调整相对较充分的CXO板块迎来估值修复行情。当前医药板块估值仍然处于历史底部区间，机构配置比例偏低，后续具备显著的修复空间。未来仍重点看好以下几方面：（1）研发团队实力强、产品管线储备丰富或具备快速国际化潜力的创新药企；（2）持续受到政策扶持的中药板块：（2）通过前瞻布局上游原材料和核心设备自主可控、新建产能充足，可持续依托研发和制造实力不断承接头部药企产能转移的国内CXO企业；（3）自主可控、有望逐步实现国产替代诉求的上游科学服务产业以及头部疫苗企业；（4）通过研发扩张产品矩阵从而实现多样化消费需求的医疗服务和创新医疗器械企业。","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=870358","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e3","date":"2022-09-29T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金继续遵循精选绩优股的策略，自下而上挖掘和配置医疗健康板块中估值相对合理、业绩确定性强的个股，目前整体股票仓位在85%左右，股票集中度适度。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.511Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=808488","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e2","date":"2022-06-29T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金依然延续优选绩优股的策略，自下而上挖掘和配置医疗健康板块中估值相对合理、业绩确定性较高的个股，目前整体股票仓位在90%左右，股票集中度适度。","declarationDate":"2022-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.508Z","mo":"上半年，医药板块受到流动性边际收紧、疫情政策扰动以及集采预期等一系列外部因素影响，一度跟随市场调整，板块中仅低估值低配置的中药板块和受益新冠特效药的部分企业表现出较好的结构性机会。在四月底市场触底反弹后，医药板块反弹幅度与其他高景气赛道相比滞涨明显，短期补涨预期较强，而且当前位置医药板块整体估值依然处于历史低位，板块内生创新动力强，政策扶持、老龄化以及承接全球大药企产业链转移的外部催化因素也在持续助力，在恐慌情绪集中释放后，精选基本面优秀、自身研发实力助力订单滚动落地的成长性个股是支撑医药板块持续走强的基本策略，作为A股唯一的供给创造需求的板块，我们依然坚定看好医药板块具备确定性的投资机会。未来持仓继续围绕如下几个方向：（1）政策扶持、低估值修复的中药板块：（2）依托研发和制造实力不断承接头部药企产能转移的国内CDMO企业；（3）自主可控、有望逐步实现国产替代诉求的上游科学服务产业以及头部疫苗企业；（4）通过研发扩张产品矩阵从而实现多样化消费需求的医疗服务和医疗器械企业。","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=785310","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e1","date":"2022-03-30T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金根据优选绩优股的策略，自下而上挖掘和配置医疗健康板块中估值相对合理、业绩相对确定性强的个股，整体股票仓位在85%左右，股票集中度适度。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.504Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2022年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=730467","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9e0","date":"2021-12-30T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金根据优选绩优股的策略，自下而上挖掘和配置医疗健康板块中估值相对合理、业绩相对确定性强的个股，整体股票仓位在80%左右，股票集中度适度。","declarationDate":"2022-01-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.501Z","mo":"2021年，全球经济持续复苏，在流动性适度充裕的背景下，A股经历春节后估值调整后继续震荡上涨，本基金于7月29日募集成立，前期根据制定的策略缓慢建仓，但下半年截至年底前仍不可避免遭遇医疗板块持续性调整，产品净值有所下跌。展望2022年，冬季新冠疫情变异病毒继续肆虐，未来伴随疫苗接种率提升和口服特效药的逐步普及将有望转为日渐常态化监控，全球经济预计持续复苏，美国进入货币收紧周期预计持续影响高估值科技板块行情，而国内根据中央经济工作会议的政策脉络，定调稳字当头、稳中求进并重申\"六稳\"、\"六保\"等举措，明确2022年总量宽松并保持流动性合理充裕的货币环境，财政政策通过跨周期和逆周期调控相结合实现稳经济增长目的，预期明年宏观经济下行压力有望边际改善。在此背景下，医药板块有望在高估值板块调整后迎来细分赛道的结构性机会，投资主线更多聚焦于行业成长空间和企业的整体竞争实力：（1）生命科学产业链包括但不限于原料药、生物试剂、生物制剂设备和医疗器械上游供应链等；（2）研发管线储备丰富且综合销售实力强的创新药械龙头；（3）全球持续推进创新的背景下，长期看好CXO链条的投资机会，尤其是国际化一体化能够强的行业龙头、研发实力支撑产能扩张的CDMO企业；（4）低估值板块如药房和中药以及偏医疗消费端的部分公司的结构性机会。","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=714062","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecb1b7fea5b3eb04af9df","date":"2021-09-29T16:00:00.000Z","stockId":3000000007861,"sao":"报告期内，本基金成立并开始建仓，自下而上挖掘和配置医疗健康板块中估值相对合理、业绩确定性强的个股，目前整体股票仓位在80%左右，股票集中度适度。","declarationDate":"2021-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T13:28:59.499Z","fund":{"_id":3000000007861,"__csrcFundId":9170,"stockCode":"007861","shortName":"金元顺安医疗健康混合(007861)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":7861,"masterFundFlag":1,"lastUpdated":"2026-04-30T20:57:12.898Z","status":"normal","name":"金元顺安医疗健康混合型证券投资基金","exchange":"jj","followedNum":4,"fundCollectionId":4000050580000,"currency":"CNY","inceptionDate":"2021-07-28T16:00:00.000Z","masterFundShortName":"金元顺安医疗健康混合","setUpDate":"2021-07-28T16:00:00.000Z","setUpAssetScale":55523618.54,"setUpShares":55523618.54,"pinyin":"jysayljkhhxzqtzjj","managers":[{"stockCode":"db20919735","stockType":"fund_manager","exchange":"fm","tickerId":31310238610,"name":"陈铭杰"},{"stockCode":"j101020453","stockType":"fund_manager","exchange":"fm","tickerId":260804258430,"name":"张海东"}]},"announcement":{"linkText":"金元顺安医疗健康混合型证券投资基金2021年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=657595","linkType":"PDF","source":"csrc_pdf"}}]}