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。美元走强以及中美关系变化使得部分外资撤出香港市场，香港市场在经历去年底反弹后，今年持续走弱。本基金上半年基本保持较高的股票仓位，降低了顺周期相关的有色、化工、建材、银行行业的配置，增加了计算机、汽车、医药行业的配置，","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:17.908Z","mo":"展望下半年，美国经济见顶，加息周期进入尾声，美元走强趋势会结束，国内经济将重新回到复苏的趋势中。随着PPI环比走强，企业利润增速会见底回升，基金经理对下半年股票市场表现较为乐观。继续看好AI主线，一带一路出口线索，以及内需相关的医药、航空、家居、电动汽车及零部件等。珍惜基金份额持有人的每一分投资和每一份信任，本基金将继续奉行华夏基金管理有限公司“为信任奉献回报”的经营理念，规范运作，审慎投资，勤勉尽责地为基金份额持有人谋求长期、稳定的回报。","fund":{"_id":3000000010333,"__csrcFundId":8645,"stockCode":"010333","shortName":"华夏核心资产混合(010333)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10333,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:15:54.028Z","status":"normal","name":"华夏核心资产混合型证券投资基金","exchange":"jj","inceptionDate":"2021-01-27T16:00:00.000Z","followedNum":11,"fundCollectionId":4000050030000,"currency":"CNY","masterFundShortName":"华夏核心资产混合","setUpDate":"2021-01-27T16:00:00.000Z","setUpAssetScale":6553866412.12,"setUpShares":6553866412.12,"pinyin":"hxhxzchhxzqtzjj","managers":[{"stockCode":"8801451530","stockType":"fund_manager","exchange":"fm","tickerId":1210179270,"name":"林晶"}]},"announcement":{"linkText":"华夏核心资产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=958254","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd857fea5b3eb04db4ca","date":"2023-03-30T16:00:00.000Z","stockId":3000000010333,"sao":"2023年一季度，海外通胀持续美元继续加息，海外硅谷银行、瑞士银行的持有债券损失带来流动性危机，投资者风险偏好出现回落，黄金价格出现上涨。国内，疫情防控放开后消费反弹以及基建项目拉动经济复苏，但出口走弱，房地产需求修复并不明显使得经济复苏力度较弱。2023年一季度，A股股票市场整体小幅上涨，但各行业表现分化较大。ChatGPT的推出使得AIGC相关的传媒、计算机、通信、电子等行业涨幅领先市场；中国特色估值体系带动大型央国企估值提升，电信运行商、建筑央企、石油石化等表现较好；而地产销售和消费服务链条的复苏低于去年底市场较高预期，免税、医美、地产银行、交运等行业表现较弱。市场担心新能源产业链增速放缓竞争加剧，估值下杀较多，表现落后。H股市场先涨后跌，其中受益于国企估值提升的电讯、能源行业表现领先，而去年四季度反弹较多的生物医药、地产和物业管理、互联网等出现回调。2023年一季度，本基金小幅降低了军工、新能源行业的配置比例，增加了汽车、食品饮料、医药行业、互联网传媒的配置比例。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:17.905Z","fund":{"_id":3000000010333,"__csrcFundId":8645,"stockCode":"010333","shortName":"华夏核心资产混合(010333)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10333,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:15:54.028Z","status":"normal","name":"华夏核心资产混合型证券投资基金","exchange":"jj","inceptionDate":"2021-01-27T16:00:00.000Z","followedNum":11,"fundCollectionId":4000050030000,"currency":"CNY","masterFundShortName":"华夏核心资产混合","setUpDate":"2021-01-27T16:00:00.000Z","setUpAssetScale":6553866412.12,"setUpShares":6553866412.12,"pinyin":"hxhxzchhxzqtzjj","managers":[{"stockCode":"8801451530","stockType":"fund_manager","exchange":"fm","tickerId":1210179270,"name":"林晶"}]},"announcement":{"linkText":"华夏核心资产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=881534","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd857fea5b3eb04db4c9","date":"2022-12-30T16:00:00.000Z","stockId":3000000010333,"sao":"2022年，欧美经济从后疫情的复苏走向滞涨，俄乌冲突的黑天鹅事件进一步推高了能源价格，推动商品价格持续走高，叠加疫情缩减了劳动力供给，通胀水平走高且价格粘性较强，美联储以逐步加息予以应对。海外需求旺盛使得国内出口仍然维持了较为景气的程度，但消费服务等受到多次疫情蔓延的扰动；固定资产投资中，基建投资受稳增长政策刺激维持中偏高的增速，地产投资则继续下滑，制造业投资有所修复，但随着12月份全国感染率达到免疫屏障的水平后，居民消费以及生产生活都逐渐恢复正常。股票市场在2022年呈现震荡下行，在美联储加息的背景下，外资流出，估值水平受到压制，而国内疫情蔓延及管控政策也影响企业盈利的修复和投资者的风险偏好。分行业看，盈利兑现且加大分红比例的煤炭行业涨幅领先，预期疫情管控放松消费复苏的社会服务、交通运输、免税等跌幅较小，稳增长和政策频出的地产和相关地产产业链以及汽车阶段性也有较好的表现；而受损于全球经济周期下行以及美国加大半导体技术封锁影响的电子行业跌幅最大，市场预期持续景气的电力设备、国防军工则因估值压缩也表现落后。港股市场前三季度受到国内经济回落和美联储加息的双重影响跌幅巨大，进入四季度后国内经济复苏确定性增强，美国经济见顶回落，货币政策转鸽，港股市场出现明显反弹。2022年，本基金保持中等偏高的股票仓位，对电力设备新能源以及国防军工持续保持较高的配置比例，上半年降低了家电、工程机械等成本承压行业的配置，而加大了政策正面扶持的汽车零部件、半导体设备的配置比例；下半年减仓了半导体设备、新能源中游材料的配置权重，增加了食品饮料、地产、行业信息化相关行业的配置。港股重点配置了独有的互联网、交易所及创新药等行业。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:17.903Z","mo":"展望2023年，由于疫情管控放松，消费服务需求逐步恢复，国内宏观经济复苏的确定性很强，但房地产需求和投资的能否恢复仍然是经济复苏强度的关键指标之一，海外经济从滞涨走向衰退，出口有回落的压力。对于股票市场而言，去年年底以来消费及出行相关企业表现领先，并逐步扩散至机械、化工、TMT等行业，对经济复苏预期较强，市场反转风格较为明显。展望2023年全年，企业盈利同比增速将在二季度开始走高，美联储加息进入尾声甚至年底可能开始出现降息，对股票市场估值压制也将大幅减轻。外资也将逐步回流中国市场，对全年权益市场走势展望较为乐观。而港股市场估值更为便宜，受美元加息进入尾声影响估值修复动力更强，预计涨幅会领先A股。分行业看，一方面我们判断新能源、数字经济、国防军工仍有望维持较高景气趋势，另一方面消除了烂尾风险以及正常生活秩序恢复，我们认为地产需求将逐步释放，三支箭政策护航龙头企业逆势加速扩张，企业盈利以及估值都有望明显修复。此外也持续看好港股互联网和创新药估值修复。本基金目前保持较高的股票仓位，超配了新能源、地产、计算机、汽车、国防军工行业，同时也逐步增加了食品饮料、创新药、半导体设计、化工行业的配置比例。珍惜基金份额持有人的每一分投资和每一份信任，本基金将继续奉行华夏基金管理有限公司“为信任奉献回报”的经营理念，规范运作，审慎投资，勤勉尽责地为基金份额持有人谋求长期、稳定的回报。","fund":{"_id":3000000010333,"__csrcFundId":8645,"stockCode":"010333","shortName":"华夏核心资产混合(010333)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10333,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:15:54.028Z","status":"normal","name":"华夏核心资产混合型证券投资基金","exchange":"jj","inceptionDate":"2021-01-27T16:00:00.000Z","followedNum":11,"fundCollectionId":4000050030000,"currency":"CNY","masterFundShortName":"华夏核心资产混合","setUpDate":"2021-01-27T16:00:00.000Z","setUpAssetScale":6553866412.12,"setUpShares":6553866412.12,"pinyin":"hxhxzchhxzqtzjj","managers":[{"stockCode":"8801451530","stockType":"fund_manager","exchange":"fm","tickerId":1210179270,"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二季度增加了汽车、光伏、半导体设备的配置比例，减持了煤炭有色等上游周期品。","declarationDate":"2022-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:17.897Z","mo":"展望下半年，全球经济受通胀压力影响，经济呈现见顶回落趋势，国内基建及制造业投资稳步上行，稳增长措施将逐步促进服务消费的改善，中小企业负担减轻，并推动就业向好以及消费的复苏。在疫情管控较好的情况下国内经济将继续呈现复苏的走势。货币信用政策仍将保持较为宽松的环境，投资者风险偏好提升对股票市场相对有利。本基金将持续维持较高的股票仓位，一方面在新能源、军工、半导体、智能汽车等高景气行业保持较高配置，另一方面在估值较低的制造业投资、房地产竣工消费链条上寻找投资机会。珍惜基金份额持有人的每一分投资和每一份信任，本基金将奉行华夏基金管理有限公司“为信任奉献回报”的经营理念，规范运作，审慎投资，勤勉尽责地为基金份额持有人谋求长期、稳定的回报。","fund":{"_id":3000000010333,"__csrcFundId":8645,"stockCode":"010333","shortName":"华夏核心资产混合(010333)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10333,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:15:54.028Z","status":"normal","name":"华夏核心资产混合型证券投资基金","exchange":"jj","inceptionDate":"2021-01-27T16:00:00.000Z","followedNum":11,"fundCollectionId":4000050030000,"currency":"CNY","masterFundShortName":"华夏核心资产混合","setUpDate":"2021-01-27T16:00:00.000Z","setUpAssetScale":6553866412.12,"setUpShares":6553866412.12,"pinyin":"hxhxzchhxzqtzjj","managers":[{"stockCode":"8801451530","stockType":"fund_manager","exchange":"fm","tickerId":1210179270,"name":"林晶"}]},"announcement":{"linkText":"209华夏核心资产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=781856","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd857fea5b3eb04db4c6","date":"2022-03-30T16:00:00.000Z","stockId":3000000010333,"sao":"2022年一季度，海外针对新冠疫情管控全面放开，俄乌冲突超预期，引发能源及部分原材料价格上涨，进一步推升通胀压力，美国开始进入加息周期。国内经济环比企稳但偏弱。尽管国内出台稳增长措施，货币信用财政都比较宽松，但房地产链条需求仍明显下滑，房地产民营企业的危机仍未见明显缓解，基建和制造业投资小幅回升但不明显。同时3月疫情的多点爆发，消费表现仍不景气。上游原材料价格上涨，中下游制造业利润率承压。从信贷投放结构也可以看出经济需求仍偏弱。票据贴现比例仍然较高，贴现利率下行，体现出投资端信贷需求仍不旺盛；地产需求下行使得居民贷款增长也明显放缓。一季度，股票市场出现较大幅度的回调。一方面，美国进入加息周期，俄乌冲突使得海外资金的风险偏好下降，海外投资机构降低新兴市场配置比例；另一方面，稳增长政策在微观层面仍未解决民营地产企业流动性危机，地产相关需求未见好转，而受累于换届未完成以及疫情扰动，基建投资也未见明显上行，减税等政策的效果还没有完全体现，投资者期待的经济明显反弹的预期有所落空。从股票市场表现上看，以煤炭、有色、石油石化为代表的能源原材料涨幅领先，而消费需求偏弱的消费电子、家电、食品饮料、汽车、传媒跌幅较大；稳增长线索下国企地产、银行等表现也相对较好。一季度，本基金保持较高的股票仓位，降低了需求增速下行的消费、利润率承压的中游制造的配置比例，增加了价格上行的煤炭、有色金属的配置比例，同时在港股市场调整中逢低加仓互联网、医药等长期看好的个股，对于景气度持续较好的新能源车、光伏、军工行业维持了较高的配置比例。","declarationDate":"2022-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:17.893Z","fund":{"_id":3000000010333,"__csrcFundId":8645,"stockCode":"010333","shortName":"华夏核心资产混合(010333)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10333,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:15:54.028Z","status":"normal","name":"华夏核心资产混合型证券投资基金","exchange":"jj","inceptionDate":"2021-01-27T16:00:00.000Z","followedNum":11,"fundCollectionId":4000050030000,"currency":"CNY","masterFundShortName":"华夏核心资产混合","setUpDate":"2021-01-27T16:00:00.000Z","setUpAssetScale":6553866412.12,"setUpShares":6553866412.12,"pinyin":"hxhxzchhxzqtzjj","managers":[{"stockCode":"8801451530","stockType":"fund_manager","exchange":"fm","tickerId":1210179270,"name":"林晶"}]},"announcement":{"linkText":"华夏核心资产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=722426","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecd857fea5b3eb04db4c5","date":"2021-12-30T16:00:00.000Z","stockId":3000000010333,"sao":"2021年，全球疫情整体处于缓解趋势，各国实施相对积极的财政政策和货币政策，经济处于修复期。一方面，全球总需求从疫情中复苏，带来总体经济的恢复性增长；另一方面，由于全球各地区复苏节奏不平衡，使得全球供应链出现紧张，资源品出现供需错配，全球商品价格大幅上涨；与此同时，产能恢复较为充分的国内制造业部门在全球供应链中的份额明显增加。国内经济整体前高后低，出口高增速成为拉动经济的重要因素，部分民企地产风险蔓延导致地产投资快速下行，疫情扰动带来消费增速低于预期。临近年底财政、货币政策重新进入宽松周期，市场利率不断下行。权益市场在过去一年整体震荡向上，并且呈现出明显的景气占优风格。但在病毒变异与疫情反复、国内反垄断监管、美国科技封锁、经济增速波动等诸多因素的影响下，也表现出较大的波动。临近年底，随着稳增长相关政策表态的释放，市场特征从景气投资转向反转投资，稳增长线索相关的地产基建链、上游原材料、金融等板块逐步占优，科技成长行业出现明显回调。港股市场受教育、反垄断政策、消费低于预期等表现不如A股。2021年，本基金保持了较高的股票仓位。一季度建仓买入互联网、高端白酒、医药、新能源、金融等龙头白马，二季度逐步加仓半导体、云计算、金融IT等成长行业；三季度增加了煤炭有色、新能源车行业配置，降低了白酒、医药、免税等消费行业配置比例；四季度增加了财富管理券商、稳增长的建材轻工等行业的配置比例。","declarationDate":"2022-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:39:17.890Z","mo":"展望2022年，宽松货币政策和积极财政政策有助于国内宏观经济企稳，但房地产需求和投资的能否恢复仍然是经济恢复的关键指标之一，仍待进一步观察。海外经济恢复带来的通胀压力增大，海外主要经济体货币政策进入收缩阶段，出口韧性能否维持汇率稳定，输入性通胀压力也成为国内货币政策能否继续宽松的掣肘。对于股票市场，尽管年初市场明显回调，特别是长期景气成长行业股票大幅下跌，但我们对全年大势并不悲观。一方面，在目前稳增长的政策取向下，市场面临的流动性环境预计仍会较为友好，持续下跌的风险不大；另一方面，政策鼓励适度开展超前基础设施投资，在国家支持的长期大方向中，新能源车、数字经济、军工等全年仍有望维持较高景气，回调后估值自然消化，成长性与价格更加匹配，投资性价比会不断增强。本基金目前超配了新能源、军工、电子、财富管理、智能汽车等长期景气行业，同时也部分布局了稳增长线索下的建材、轻工、家电行业，另外关注疫情好转带来的投资机会。珍惜基金份额持有人的每一分投资和每一份信任，本基金将继续奉行华夏基金管理有限公司“为信任奉献回报”的经营理念，规范运作，审慎投资，勤勉尽责地为基金份额持有人谋求长期、稳定的回报。","fund":{"_id":3000000010333,"__csrcFundId":8645,"stockCode":"010333","shortName":"华夏核心资产混合(010333)","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":10333,"masterFundFlag":1,"lastUpdated":"2026-04-30T22:15:54.028Z","status":"normal","name":"华夏核心资产混合型证券投资基金","exchange":"jj","inceptionDate":"2021-01-27T16:00:00.000Z","followedNum":11,"fundCollectionId":4000050030000,"currency":"CNY","masterFundShortName":"华夏核心资产混合","setUpDate":"2021-01-27T16:00:00.000Z","setUpAssetScale":6553866412.12,"setUpShares":6553866412.12,"pinyin":"hxhxzchhxzqtzjj","managers":[{"stockCode":"8801451530","stockType":"fund_manager","exch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