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to C的元年。当越来越多的人开始接触和使用AI应用之后，大家对AI会有更多更深的认知。全球的AI发展也不会停下来，还是在不断的创新，对算力技术演进的创新，对大模型优化的创新，对AI应用的场景的创新。在泛AI领域的投资机会上，将包括AI算力，AI应用，机器人，自动驾驶，以及AI的底座半导体产业链，等等。不过，2025年的市场也会存在波动变大，行情节奏加快的现象。这对产品的运作也提出更高的挑战。我会不断总结，不断优化，挖掘产业发展中优质的机会，为产品的净值而努力。","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=1258598","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc108","date":"2024-09-29T16:00:00.000Z","stockId":3000000009432,"sao":"今年三季度末，整个市场出现积极的回暖。我们看到整个市场对于中国经济的的预期得到巨大的提升。市场的流动性和交易量都开始显著的活跃。在这样的市场环境下，成长股迎来一个很好的机会窗口。我们看到三季度末，以科技为核心的板块，出现巨大的涨幅。　　我们认为今年最后一个季度的行情会有很好的机会，虽然波动也会出现显著的增大。但是整体来看，大概率是波动向上的走势。而成长股在这样的环境下，将会出现很多优秀的投资机会。我们会继续基于产业的维度，去找寻优秀的投资机会。目前，包括以半导体和AI为核心的科技领域，以及消费电子的复苏，以华为为核心的国产替代，都会是我们重点关注的方向。　　我们对今年最后一个季度成长股的行情很乐观，也将继续优化和调整产品的配置方向，积极地找寻成长的机会，为净值而努力。","declarationDate":"2024-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.876Z","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=1171193","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc107","date":"2024-06-29T16:00:00.000Z","stockId":3000000009432,"sao":"今年上半年，成长股整体的行情波动巨大，整体呈现出快速轮动，投资难度加大。在相对低迷的行情，我们也没有能取得好的表现，再次向各位持有人抱歉。上半年，板块的布局判断上还不错，但是节奏的把握出现较大的偏差，从而带来收益的缺失。市场的风格变化和难度均超过我们的预期，这是上半年很大的教训。接下来我们会更加夯实对于产业的研究，对机会把握的审慎来应对变化更加剧烈的市场环境。　　我们认为今年接下来成长股最具有确定性机会的就来自于消费电子景气度复苏带来的驱动力，这个驱动会引起芯片、消费电子产业链、算力等领域的景气度同步向上。同时，我们还会布局军工、教育、光伏等领域的结构性机会。我们对今年后续成长股的行情不悲观，只要市场风险偏好略有好转，成长股的行情不会缺失。我们也将继续优化和调整产品的框架，积极的找寻成长的机会，为净值而努力。","declarationDate":"2024-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.874Z","mo":"进入到2024年下半年，我们将看到随着消费电子的温和复苏，以及国产科技能力的不断提高，科技仍然会是我国经济发展中最核心的一环。国家提出要以科技创新推动产业创新，特别是以颠覆性技术和前沿技术催生新产业、新模式、新动能，发展新质生产力。这将会是泛科技成长板块最重要的投资机会来源和重要驱动力。","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=1143721","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc106","date":"2024-03-30T16:00:00.000Z","stockId":3000000009432,"sao":"今年一季度，市场经历一个巨大的波动，成长股的行情波动尤其大。截止一季度，大部分成长股板块均未回到年初，只有少数板块反弹力度强劲，创出年内新高。　　本产品定义为科技成长均衡的方向，不断在成长板块中找寻更好的投资机会，形成产品的配置组合。本产品运作的核心理念是，站在产业的角度，找寻具有板块边际变化最大的几个方面进行布局，并适度进行轮换。产品将围绕以科技为核心的成长方向进行布局，希望通过对产业的变化进行评估定价，获取超额收益。　　今年一季度中，产品主要配置AI、芯片、消费电子、鸿蒙等科技成长领域，同时适度参与了新能源领域，另外也以自下而上的方式，参与了医药、机械等个股的机会。基金经理认为今年经历一季度的波动之后，后续成长股的机会仍然不断涌现，但是会呈现出节奏较快，波动向上的特点。　　基金经理在新的一年也将继续优化和调整产品的框架，在做好泛科技成长的过程中，适度考虑绝对收益的保护。","declarationDate":"2024-04-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.871Z","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpA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“要活跃资本市场，提振投资者信心”的要求。在此政策的提振下，非银板块第三季度涨幅超过6%。第三季度A股的表现低迷也同美元加息预期增强和美债利率走强有关。第三季度美国经济数据依然保持强劲，加息预期提升，10年美债利率从3.84%提升到4.57%，创出2008年全球金融危机以来新高。受此影响，美国纳斯达克指数第三季度下跌4.12%，结束了今年上半年的强劲反弹。其他主要国际指数也表现低迷，道琼斯工业指数下跌2.62%，日经225下跌4%，恒生指数下跌5.85%。北上资金在第三季度也出现持续流出的情况，第三季度净流出超过700亿。　　本基金第二季度表现较好的主要原因是配置较多的人工智能相关标的。人工智能相关公司股价的快速上行后，短期估值出现一定透支，本基金在第三季度相应的对仓位和结构进行一定调整。但仍然看好人工智能在未来全球科技进步过程中的发展。展望未来，本基金仍将聚焦在人工智能、新能源汽车等科技创新领域，包括电子元器件、半导体、通信和汽车零部件等。本基金将在估值合理和市场风险较低的情况下增加配置。","declarationDate":"2023-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.865Z","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=987076","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc103","date":"2023-06-29T16:00:00.000Z","stockId":3000000009432,"sao":"截止上半年国内经济数据普遍较为低迷，如二季度CPI低于1%，PMI也连续三个月再回到50以下。A股一季度的以“复苏”为主基调的行情在二季度出现拐头。叠加国际形势的复杂多变，主要指数在二季度均出现下跌。以蓝筹为主的上证50和沪深300跌幅均超过5%，表现稍好的中证1000也下跌接近4%。随着美国加息进入尾声，海外主要指数在二季度则表现较好。纳斯达克指数上涨超过10%，道琼斯工业指数上涨超过3%，日经225涨幅超过18%，英国富时100在一季度创出历史新高后，二季度小幅下跌1.31%。行业方面，A股表现较好的以人工智能为主导的细分板块，包括通信、传媒和电子等。特别是通信板块，是二季度唯一涨幅超过10%的一级行业（中信行业分类）。另外，家电、传媒、机械涨幅也超过5%。而下跌行业则多数来自消费和经济周期相关度较高的行业。其中消费者服务下跌超过20%，建材，农林牧渔和食品饮料则下跌超过10%。　　我们看好新能源行业长期的趋势，在考虑到新能源行业中短期或将出现供过于求的情况，本基金下降新能源行业占比，我们将耐心等待行业供需局面的改善。同时，我们看好以电子行业为代表的周期成长性行业或将逐步走出困境，也看好人工智能对科技行业带来的变化，我们在上半年逐步增加此类资产的配置比例。","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.862Z","mo":"我们认为市场已经逐步接受国内经济是“弱复苏”而非“强复苏”的现状，且包括汇率波动等多个风险已经暴露，A股相应资产也已定价，持续下跌风险概率不大。随着政策的逐步落地，细分行业基本面将得到逐步改善，下半年会有更多的投资机会出现。美国加息也将逐步进入尾声，全球经济也大概率逐步企稳并且回升，全球风险偏好将上升。并且随着人工智能技术的出现及普及，此次全球经济回升也将以科技技术的进步为主要驱动力。下半年我们看好A股中参与全球科技竞争的行业和公司，包括电子元器件、半导体、汽车零部件等。我们也看好人工智能在应用测的落地及新的商业模式和盈利模式产生带来的投资机会。","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=961470","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc102","date":"2023-03-30T16:00:00.000Z","stockId":3000000009432,"sao":"第一季度A股市场延续22年第四季度以来的复苏态势。市场主线以消费，地产链，制造业等2022年基数较低的行业渐次展开。但随着指数和相应公司股价攀升，市场预期也不断上涨，而实体经济的复苏却是相对温和、缓慢。3月后，经济数据的逐步披露，市场预期也逐步开始修正，股价有所回落。而另一方面，美国人工智能公司openai为代表的新一代人工智能技术的发布，让市场感到兴奋。与之相关的板块多数集中在电子、计算机、通信和传媒领域，分别代表了算力，模型，数据和应用。加上以上4个行业在21年和22年中调整较为充分， 因此在第一季度以上四个行业涨幅居于全市场前列，并大幅度跑赢其他行业。第一季度涨幅前五的行业分别是计算机、传媒、通信、电子和建筑，涨幅分别是38%、34%、29%、17%和11.5%。　　我们认为新一代的人工智能技术有极大可能是继2000年互联网技术，2014年移动互联网技术后的一次重大的技术革命，会带来新的市场需求或市场再分配的机会。我们将积极的跟踪新技术的发展趋势并抓住机会。另外，我们认为“复苏”仍将是2023年全年的主脉络，我们也会积极地参与其中。对于新能源板块来说，可能2023年并不是“复苏”的一年，但是我们看好新能源在未来几年的发展前景，当前新能源相应公司的股价调整较为充分，估值也处于历史低部，从全年角度来看仍将有较好的收益。","declarationDate":"2023-04-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.860Z","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=879996","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc101","date":"2022-12-30T16:00:00.000Z","stockId":3000000009432,"sao":"2022年全年A股呈现W型下跌态势。1-4月由于国内经济中心上海“疫情”爆发，导致全国经济增速放缓，A股呈现单边下跌。5-8月随着上海疫情的结束及经济刺激政策的出台，A股呈现快速反弹。反弹主要以汽车、军工和电力设备新能源为主。但8月中旬至10月底，由于欧美国家CPI快速上行，导致更加激进的加息策略出台，人民币对美元汇率快速贬值，全球资本市场风险偏好快速下行，A股重新进入下跌态势。10月底随着20大胜利召开，疫情防控政策的调整，稳经济政策逐步的出台，A股和恒生指数均出现快速反弹。此轮上涨则以食品饮料，旅游出行等疫情复苏板块为主导。但2022年全年各大主要指数仍出现大幅度下挫。其中代表蓝筹大盘股的上证50和沪深300分别下跌19.52%和21.63%，代表成长股的创业板指下跌29.37%，代表中小盘指数的中证100下跌21.58%。2022年的A股是继2018年后的又一次“熊市”　　本基金在5月份抓住汽车和新能源汽车反弹的良机，净值快速回升。在8月-10月底的下跌过程中对新能源汽车产业链进行减仓，并重点加大配置基本面更为坚挺的光伏和储能，净值虽然有所回撤，但幅度小于指数。在10月底的反弹当中，本基金仍然配置在光伏及新能源领域，由于以光伏、储能为代表的新能源行业在疫情期间并未受损，故在年末的反弹中表现一般。","declarationDate":"2023-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.857Z","mo":"随着2022年10月中下旬20大胜利召开和疫情防控优化措施的持续落实，稳经济各项政策开始逐步释放，我国经济增速有望在2023年出现回升。同时，美国的CPI也在2022年10月份出现拐点。十年期美债收益率开始从高点4.3%逐步回落，全球风险偏好有望在2023年持续提升。人民币兑美元汇率也从最高点7.3：1附近回落，有利于2023年全球资金回流中国资产。　　2023年我们仍然看好以光伏、风电和储能为代表的新能源行业的发展前景。我们依然会在此维持一定比例的配置。同时我们也看到政策和经济数据变化带来的一些行业的反转机会，比如通信、机械设备、新材料等行业。如美国加息步伐在2023年逐步停止并开始重新进入降息通道，那么依赖全球经济复苏的电子、半导体、出口等行业也将具备底部反转的机会。","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=874521","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc100","date":"2022-09-29T16:00:00.000Z","stockId":3000000009432,"sao":"4月底随着上海疫情得到控制及美债利率短期见顶，市场出现快速的反弹。但以美国为主的欧美国家CPI涨幅大幅度超出市场预期，各国政府不得已出台更加激进的加息策略以应对通胀。截止三季度末，美国10年期国债收益率已上涨至3.84%，达到2008年水平。美元指数也随之上行。三季度末美元指数上涨至112.15，上涨7.11%，全年上涨16.67%，达到2002年水平。全球主要货币兑美元均出现下跌，人民币兑美元也跌至7.20:1附近。在此压力下，全球主要股指三季度均出现明显回落，且波动加大。美国道琼斯工业指数第三季度下跌6.66%，振幅18%，纳斯达克指数第三季度下跌4.11%，振幅超过23%。中国主要：指数上证50下跌14.66%，沪深300下跌16.16%，创业板指下跌18.56%。从行业角度来看（中信一级行业分类），第三季度仅高分红低估值的煤炭板块上涨，涨幅为4.34%。其余29个行业均为下跌，跌幅中位数超过10%。11个子行业跌幅超过15%。  展望第四季度，我们认为不必太过悲观。主要指数在当前位置已基本充分反映美国加息，俄乌战争及国内疫情等风险。随着全球发达国家加息力度加大，上游大宗商品价格已出现明显回落，全球CPI继续上行的压力降低。一旦美国经济数据证实美国进入衰退，全球风险偏好有望出现大幅度反弹。我们对光伏、风电和储能的未来仍然充满信心，将不断挖掘其中投资机会。对新能源汽车和汽车零部件则需要跟踪国内经济和疫情带来的短期影响。另外，我们也逐步关注军工、医药、计算机、半导体等行业大幅度下跌后带来的投资机会。","declarationDate":"2022-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.854Z","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=804508","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc0ff","date":"2022-06-29T16:00:00.000Z","stockId":3000000009432,"sao":"第二季度A股先跌后涨，A股各主要指数均有上涨，但振幅较大。第二季度上证50上涨5.50%振幅15.19%，沪深300上涨6.21%振幅17.95%，创业板指上涨5.68%振幅达到27.88%。4月份A股主要指数延续了第一季度的下跌态势。随着5月份上海疫情缓解，国内经济刺激政策落地，市场流动性充裕，国际上美国加息落地，美10年期国债收益率逐步平稳，市场风险偏好逐步上行，A股市场出现较大反弹。第二中信30个一级行业分类中上涨的行业超过2/3，涨幅超过10%的5个，分别是消费者服务行业上涨25.7%，汽车行业上涨24.91%，食品饮料行业上涨21.19%，电力设备及新能源上涨13.88%，家电行业上涨12.66%。而跌幅较大行业是综合金融行业下跌15.74%，房地产行业下跌8.38%，传媒行业下跌5.10%，综合行业下跌4.52%，农林牧渔行业下跌3.55%。  本基金在报告期内坚持持有新能源汽车、光伏、风电等全球景气度向上资产。并在合适的阶段加仓与汽车电子化、新能源化相关资产。虽然在一季度末二季度初有较大波动，但在报告期末获得较好的相对投资回报。我们将密切跟踪下半年政策变化，关注行业出现的边际变化，力求继续为投资者创造良好的投资收益。","declarationDate":"2022-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.851Z","mo":"展望第三季度，我们认为中国经济随着刺激政策的陆续落地，将迎来一轮经济复苏的小周期，货币政策在经济复苏早期仍然将维持较为宽松的状态。而海外由于CPI的高企或将不得不通过加息引入衰退来抑制恶性通胀的蔓延。因此，尽管当前处于欧美加息周期，但A股对海外股市，利率的敏感度均在下降。国内疫情尽管短期有所好转，但鉴于病毒的传播能力增强，疫情有可能仍然会出现反复。仍然需要警惕疫情对当地工业、消费行业短期带来的冲击。中期我们将看好需求确定性高，增速长期稳定的科技行业。包括新能源汽车、风电、军工、光伏、医药、半导体及新能源汽车带来的汽车智能化和电子化的机会。同时，我们也关注经济复苏后带来的一些行业变化。一旦出现明确触底反弹信号，我们也将做出相应的行动。","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=782016","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc0fe","date":"2022-03-30T16:00:00.000Z","stockId":3000000009432,"sao":"第一季度A股各主要指数均出现较大程度下跌。以蓝筹为主的上证50和沪深300分别下跌超过11%和14%。以成长股为主的创业板指下跌幅度接近20%。以中小盘为主的中证1000下跌幅度超过15%。中信30个一级行业分类中下跌的行业超过26个，仅煤炭、房地产、银行和农林牧渔上涨。跌幅超过10%的行业数量超过一半以上，达到17个。  宏观方面，可预见的是2022年第一季度我们仍然面临的是同去年第四季度相似的问题。国内经济下行压力较大，需要通过各种手段实现稳增长。起到逆周期调节的房地产、银行、建筑等行业表现较好。国际方面中国将面对的是美国的加息周期，10年期美债收益率出现大幅度上行，罕见的超过中国10年期国债收益率。未能遇见的风险则是发生在2月下旬到3月份的俄乌冲突及上海、吉林等地的新冠疫情快速传播。俄乌冲突引发的西方国家对俄罗斯的制裁直接导致全球能源、大宗商品、粮食价格飙升，全球风险偏好下行。上海、吉林等地的新冠疫情严重程度接近甚至超过19年底武汉，这些势必短期内会对国内经济造成一定影响。在以上前提下，以煤炭，有色，石油为代表的上游资源品在第一季度表现明显好于中游制造业和下游消费业，如电子、汽车、家电、食品饮料等。  我们认为除美国加息将持续较长时间外，当前遇到的经济下行压力、俄乌战争及疫情均为中短期因素。随着这些不利因素的逐步退却，市场风险偏好将逐步回升。从去年四季度开始的成长股调整也使得估值大幅度下降，风险得到有效释放，部分行业的市盈率估值已经接近甚至低于行业的历史中位数水平，出现了较好的投资机会。由于本基金投资范围的约束，我们通过仓位的调整以应对当前的一系列风险。从中长期角度来看我们仍然看好景气度较高的新能源汽车、光伏、风电、半导体、军工、医药等科技创新方向。","declarationDate":"2022-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.848Z","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=729849","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc0fd","date":"2021-12-30T16:00:00.000Z","stockId":3000000009432,"sao":"2021年国内宏观经济在全球疫情反复，国内地产行业持续高压、能耗双控的影响下呈现出前高后低的态势。海外持续的流动性宽松及国内的能耗双控导致上游大宗商品价格出现暴涨暴跌现象。国内政策支持的新能源汽车、光伏、风电、军工等新兴行业则增长快速。2021年A股的走势基本反应国内的经济态势。与宏观经济相关的蓝筹指数上证50和沪深300全年表现低迷，分别下跌10.06%和5.2%。而以新兴经济为主的创业板指则上涨超过12%。行业表现来看（申万行业分类），新能源公司占比较多的电力设备全年上涨超过45%，上游原材料板块包括有色金属、采掘、基础化工、钢铁行业涨幅均超过30%。而以消费、地产为主的家用电器、房地产、社会服务跌幅均超过10%。本基金在2021年坚持长期持有全球景气度向上的行业。主要配置新能源、科技等板块，在2021年取得24.55%的涨幅。本基金将在科技创新领域中不断挖掘，并密切跟踪2022年政策变化，关注行业出现的边际变化，力求为投资者创造良好的投资收益。","declarationDate":"2022-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.840Z","mo":"2021年国内宏观经济在全球疫情反复，国内地产行业持续高压、能耗双控的影响下呈现出前高后低的态势。GDP增速第一季度的同比增速达到18.3%，而第四季度降至4.0%。固定资产投资增速上半年维持在10%左右，下半年回落至5%附近。社零总额增速上半年维持在10%附近，下半年降至4%左右，十二月的社零总额更是仅增长1.7%。由于海外疫情的持续反复，我国的出口数据持续向好，全年增速均在20%以上。2022年国内经济将面临较大压力。针对当前困难，中央政治局会议和中央经济工作会议上提出“持续改善民生，着力稳定宏观经济大盘，保持经济运行在合理区间，保持社会大局稳定”、“经济工作要稳字当头、稳中求进”、“政策发力适当靠前发力”一系列“稳经济”措施。持续打压的房产行业也出现边际上的些许变化。而海外主要面临的是美国加息带来的资本市场变化。新兴成长行业在2021年表现较好，2022年在稳增长的预期下新兴成长行业或将面临一定的回调压力。我们坚信我国经济转型的决心。本基金将不断在科技创新行业中挖掘机会，立足于基本面，选择行业趋势向上，有竞争力的公司重点配置，力求为投资者创造良好的投资收益。","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00: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在7、8、9三个月更是达到9%、9.5%和10.7%。高涨的上游价格使得市场不得不担心对中、下游行业的利润产生挤压，并在未来抑制消费。而消费数据也确实差强人意，使得市场更加担心未来的“滞涨”风险。在第三季度各主要指数出现一定调整。以蓝筹股为主的上证50下跌幅度超过8%，而沪深300下跌超过6%。以科技创新为主的创业板指数下跌也超过6%。以中小盘股票为主的中证500则上涨超过4%。从申万行业分类来看，第三季度涨幅较大的行业分别是采掘、公用事业、有色金属、钢铁和化工，涨幅均超过10%。其中以煤炭为主的采掘行业涨幅更是超过35%。跌幅较大的行业是医药生物、休闲服务、食品饮料、传媒和家用电器，跌幅均在10%以上，跌幅较大的行业基本以消费为主。未来，我们认为PPI大概率将在今年第四季度或明年一季度见顶，大宗商品价格有可能在一段时间内维持，但最快的上涨阶段已经过去。鉴于国内经济压力增长较大，且我国在疫情期间未做较大量化宽松，往后看货币收紧概率不高。我们认为景气度持续较高，上游资源涨价影响较大的行业或许将在未来半年内迎来挂点。这里包括光伏、风电等未来景气度较高的新能源行业等。鉴于当前宏观环境的不确定性，本基金将通过合理的仓位进行风险控制。","declarationDate":"2021-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.835Z","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放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=652034","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc0fb","date":"2021-06-29T16:00:00.000Z","stockId":3000000009432,"sao":"今年一季度春节前，市场仍然延续2020年的趋势，以食品饮料、新能源为代表的创新、消费龙头股仍然是上涨的主要板块。但春节过后，全球疫情出现明显好转，引发美债长端收益率出现快速上行。美10年国债收益率2月从1.071%上涨到1.405%。由此引发市场风格出现大规模的切换。第一季度A股各主要指数冲高回落，且振幅较大。其中沪深300下跌2.78%，但振幅达到18.42%，创业板指下跌7%，但振幅高达29.40%。第二季度随着印度疫情的快速蔓延，美债收益率也从高点逐步回落。Wind数据显示，美国10年期国债收益率从3月份最高的1.74已经回落至1.40-1.50区间范围之内。尽管美国2季度的CPI出现高增，但并没有促使美联储启动货币收紧政策。全球风险偏好在第二季度出现显著回升。第二季度美纳斯达克指数上涨9.49%，道琼斯工业指数上涨4.61%。风险偏好的抬升更加利好A股中成长股的上涨。第二季度创业板指大幅度上涨26.05%，沪深300上涨3.48%，而以蓝筹为主的上证50反而下跌1.15%。从行业角度来看，全球加速渗透的新能源汽车带动电力设备板块大涨30.70%，汽车行业涨幅也超过20%。芯片行业的短期供需不平衡导致行业景气度向上，电子行业第二季度也大幅度上涨21.22%。而地产及地产产业链在第二季度则出现明显调整。房地产板块下跌7.88%，家用电气板块下跌8.51%，建筑装饰下跌4.36%，建筑材料下跌3.52%。尽管今年Q1和Q2各主要经济指标增速惊人，但剔除低基数效应后增速则差强人意。PMI也从去年11月最高的52.1%下降到50.9%。我们预计PPI也将在今年二季度和三季度达到高点，然后逐步走低。出口增速也将逐步回落。","declarationDate":"2021-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.832Z","mo":"展望下半年，我们对宏观经济表示谨慎乐观。我们认为货币政策仍然将以稳健为主，不会出现大幅度收紧或者放松。在这种情况，我们认为市场有较好的结构性机会。行业景气度向上，商业模式优秀，管理层优秀且估值合理的公司将是我们重点配置方向。在行业选择上面，我们仍然看好渗透率进入快速提升的新能源汽车行业。另外电子、医药、高端制造等领域也是我们重点配置的领域。","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放混合型证券投资基金2021年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=629459","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aeccab7fea5b3eb04cc0fa","stockId":3000000009432,"sao":"春节是一季度市场行情的分水岭。在春节前，市场仍然延续2020年的趋势，以食品饮料、新能源为代表的创新、消费龙头股仍然是上涨的主要板块。但春节过后，市场风格出现大规模的切换。前期强势板块、个股出现较大幅度回撤，而低位、低价股表现出较好的相对收益。第一季度A股各主要指数冲高回落，并且振幅较大。其中，沪深300下跌2.78%，但振幅达到18.42%，创业板指下跌7%，但振幅高达29.40%。从行业来看，钢铁、公用事业、银行等去年表现一般的行业今年表现突出，涨幅分别是15.7%，11.5%和10.5%。表现较差的行业为国防军工、非银金融和通信，分别下跌19.3%，12.5%和11.4%。当前的下跌原因一方面是19年至今部分板块涨幅较大，估值较高，需要时间和回调消化估值。而更重要的是随着疫苗的注射量增长，全球疫情出现明显好转，引发美债长端收益率出现快速上行。美10年国债收益率2月从1.071%上涨到1.405%。美30年国债收益率更是超2%的关键点位。美债长端收益率的上行预示经济复苏，通货膨胀上行，美元升值，流动性收缩等一系列反应。全球股票也出现巨幅波动。我们认为快速下跌后的股票估值也得到一定的修复，市场短期内不必过分恐慌。今年全球的流动性将随着疫情的减弱而逐步收紧，但全球特别是中国经济将出现触底反弹，快速增长。未来市场将更加聚焦于业绩驱动的行业和个股。本基金成立于2020年第四季度。坚持长期持有趋势向上科技创新型行业，包括新能源、医药、半导体等行业。行业的短期波动或造成股价出现一定回调，我们仍然长期看好以上趋势向上的行业。另外，我们也将更加关注一些出现边际变化，且估值仍处于低位的公司。力求为投资者创造良好的投资收益。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:35:39.829Z","fund":{"_id":3000000009432,"__csrcFundId":8103,"stockCode":"009432","name":"德邦科技创新一年定期开放混合型证券投资基金","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":9432,"masterFundFlag":1,"fundStatus":"normal","lastUpdated":"2026-04-30T21:48:27.874Z","status":"normal","exchange":"jj","inceptionDate":"2020-11-23T16:00:00.000Z","shortName":"德邦科技创新一年定开混合(009432)","followedNum":4,"fundCollectionId":4000050710000,"currency":"CNY","masterFundShortName":"德邦科技创新一年定开混合","setUpDate":"2020-11-23T16:00:00.000Z","setUpAssetScale":332507097.07,"setUpShares":332507097.07,"pinyin":"dbkjcxyndqkfhhxzqtzjj"},"announcement":{"linkText":"德邦科技创新一年定期开放混合型证券投资基金2021年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=570833","linkType":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