window.pageData = {"stock":{"_id":3000000012417,"name":"招商国证生物医药指数证券投资基金","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","exchange":"jj","fundStatus":"normal","indexFundFlag":1,"lofFundFlag":1,"classificationFlag":null,"stockCode":"012417","tickerId":12417,"shortName":"招商国证生物医药指数C","inceptionDate":"2021-05-17T16:00:00.000Z","fundCollectionId":4000050210000,"followedNum":34,"currency":"CNY","status":"normal","masterFundFlag":null,"activeFundFlag":null,"closedEnd":null,"etfFundFlag":null,"feederFundFlag":null,"pensionTargetFlag":null,"pinyin":"zsgzswyyzszqtzjj","indexId":1000000399441,"index":{"areaCode":"cn","stockType":"index","exchange":"sz","stockCode":"399441","tickerId":399441,"name":"生物医药","rebalancingFrequency":"semi-annually"},"fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50210000","tickerId":50210000,"name":"招商基金管理有限公司"},"managers":[{"name":"侯昊","stockType":"fund_manager","stockCode":"db20376719","exchange":"fm","tickerId":808172690},{"name":"许荣漫","stockType":"fund_manager","stockCode":"db20793869","exchange":"fm","tickerId":241813217260}],"hotMetrics":{"fss":{"stockId":3000000012417,"type":"fss","f_s_s_d":"2024-06-29T16:00:00.000Z","f_ins_h_s_r":0.0092,"f_ind_h_s_r":0.9908,"f_h_a":106794,"f_h_s_a":37947,"f_ind_h_s_r_c_1y":0.0010999999999999899,"f_ind_h_s_r_c_hy":0.0021999999999999797,"f_ins_h_s_r_c_1y":-0.0011000000000000003,"f_ins_h_s_r_c_hy":-0.002199999999999999,"last_data_date":"2025-12-30T16:00:00.000Z"},"fpr":{"stockId":3000000012417,"type":"fpr","f_p_r_fys_ssc":5565,"f_p_r_fys_ssrp":0.8759884974838246,"f_p_r_m1_ssc":5828,"f_p_r_m1_ssrp":0.9558949716835421,"f_p_r_m3_ssc":5700,"f_p_r_m3_ssrp":0.8329531496753817,"f_p_r_m6_ssc":5388,"f_p_r_m6_ssrp":0.9077408576201967,"f_p_r_y1_ssc":4646,"f_p_r_y1_ssrp":0.8520990312163617,"f_p_r_y2_ssc":3540,"f_p_r_y2_ssrp":0.9499858717151738,"f_p_r_y3_ssc":2886,"f_p_r_y3_ssrp":0.9792027729636048,"f_cagr_p_r_fs_ssc":5894,"f_cagr_p_r_fs_ssrp":0.9916850500593924,"f_p_r_y5_ssc":1766,"f_p_r_y5_ssrp":0.9994334277620397},"fp":{"stockId":3000000012417,"type":"fp","f_p_r_fys":-0.05586592178770933,"f_p_r_m1":-0.07535438945535877,"f_p_r_m3":-0.0667670682730922,"f_p_r_m6":-0.10323203087313071,"f_p_r_y1":0.03565459610027877,"f_cagr_p_r_fs":-0.1968147499102193,"f_p_r_d1":-0.0005323396326856189,"f_p_r_y2":-0.06371191135734089,"f_cagr_p_r_fs_sic":7,"f_cagr_p_r_fs_sirp":1,"f_p_r_fys_sic":7,"f_p_r_fys_sirp":1,"f_p_r_m1_sic":7,"f_p_r_m1_sirp":1,"f_p_r_m3_sic":7,"f_p_r_m3_sirp":0.5,"f_p_r_m6_sic":7,"f_p_r_m6_sirp":0.8333333333333334,"f_p_r_y1_sic":7,"f_p_r_y1_sirp":0.6666666666666666,"f_p_r_y2_sic":6,"f_p_r_y2_sirp":0.6,"f_p_r_y3":-0.3008649868371571,"f_p_r_y3_sic":6,"f_p_r_y3_sirp":0.6,"last_data_date":"2026-05-18T16:00:00.000Z","f_p_r_y5":-0.665947888589398},"ff":{"stockId":3000000012417,"type":"ff","f_m_f":51849495,"f_m_f_r":0.01,"f_c_f":10369899,"f_c_f_r":0.002,"f_m_a_c_f":62219394,"f_m_a_c_f_r":0.012,"f_m_c_f_d":"2024-06-29T16:00:00.000Z","f_c_fr":0.002,"f_fr_d":"2025-05-25T16:00:00.000Z","f_m_fr":0.01,"f_mac_fr":0.012},"f_nlacan":{"stockId":3000000012417,"type":"f_nlacan","f_nv_d":"2026-05-18T16:00:00.000Z","f_nv":0.3718,"f_nv_cr":0},"f_as":{"stockId":3000000012417,"type":"f_as","f_tas":1509625193.4306,"f_tas_d":"2026-03-30T16:00:00.000Z"}},"masterSlaveFunds":[{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1}],"shareholdings":[{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":603259,"holdings":8646918,"marketCap":848262655,"netValueRatio":0.1057,"quarterlyChange":0.08230361871138547,"stock":{"stockCode":"603259","exchange":"sh","stockType":"company","tickerId":603259,"name":"药明康德"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":600196,"holdings":18802418,"marketCap":500708391,"netValueRatio":0.0624,"quarterlyChange":0.005285013212534162,"stock":{"stockCode":"600196","exchange":"sh","stockType":"company","tickerId":600196,"name":"复星医药"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":300347,"holdings":7789868,"marketCap":419328594,"netValueRatio":0.0523,"quarterlyChange":-0.050617283950616376,"stock":{"stockCode":"300347","exchange":"sz","stockType":"company","tickerId":300347,"name":"泰格医药"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":2252,"holdings":71116810,"marketCap":413899834,"netValueRatio":0.0516,"quarterlyChange":-0.07979659984826115,"stock":{"stockCode":"002252","exchange":"sz","stockType":"company","tickerId":2252,"name":"上海莱士"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":300759,"holdings":13922545,"marketCap":389552809,"netValueRatio":0.0486,"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":3000000161726,"stockId":661,"holdings":4449405,"marketCap":382070407,"netValueRatio":0.0476,"quarterlyChange":-0.07217720151269591,"stock":{"stockCode":"000661","exchange":"sz","stockType":"company","tickerId":661,"name":"长春高新"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":2821,"holdings":3038432,"marketCap":336567112,"netValueRatio":0.042,"quarterlyChange":0.19197245238351623,"stock":{"stockCode":"002821","exchange":"sz","stockType":"company","tickerId":2821,"name":"凯莱英"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":603087,"holdings":5240400,"marketCap":335385600,"netValueRatio":0.0418,"quarterlyChange":-0.05979139121492505,"stock":{"stockCode":"603087","tickerId":603087,"exchange":"sh","stockType":"company","name":"甘李药业"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":688331,"holdings":2494415,"marketCap":321205819,"netValueRatio":0.04,"quarterlyChange":0.6553541586322154,"stock":{"name":"荣昌生物","exchange":"sh","stockType":"company","stockCode":"688331","tickerId":688331}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000161726,"stockId":688506,"holdings":1136522,"marketCap":315953116,"netValueRatio":0.0394,"quarterlyChange":-0.13958526771897228,"stock":{"name":"百利天恒","exchange":"sh","stockType":"company","stockCode":"688506","tickerId":688506}}],"bondHoldings":[{"_id":"6970e483022f6000e3fdc54a","date":"2025-12-30T16:00:00.000Z","fundId":3000000161726,"stockCode":"019766","stockName":"25国债01","holdings":60000,"marketCap":6066930,"netValueRatio":0.0007,"lastUpdated":"2026-01-21T14:36:51.725Z","declarationDate":"2026-01-20T16:00:00.000Z"}]},"list":[{"_id":"69e8ed061398d79843fea528","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内市场总体呈现先扬后抑，年初在政策预期升温、流动性宽松及汇率升值等因素带动下，市场整体震荡走高，之后海外局势出现大幅变动，在高油价持续、海外降息预期回落等因素影响下，市场风险偏好回落，主要宽基指数普遍回调，行业主题轮动加速、走势分化明显，申万一级行业指数中煤炭、石油石化、公用事业、建筑材料、基础化工等行业领涨，非银金融、商贸零售、美容护理、计算机、房地产、家用电器等行业走势相对较弱。国证生物医药指数报告期内下跌1.69%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","lastUpdated":"2026-04-22T15:45:10.610Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2026年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1480409","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69ce6696f45dd25f43f6270d","date":"2025-12-30T16:00:00.000Z","declarationDate":"2026-03-30T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内在政策、资金及产业发展等多重因素助力下，市场整体表现较好，主要宽基指数普遍上涨，其中科创板、创业板、小微盘股走势相对较强，市场活跃度明显提升，全年成交额明显提升，两融新开账户数、两融余额等明显增长，风格及行业层面分化依然较大，科技成长及部分资源品相对占优，申万一级行业中有色金属、通信、电子、电力设备等行业涨幅较大，食品饮料、煤炭、美容护理、公用事业等行业走势相对落后。国证生物医药指数报告期内上涨5.22%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","lastUpdated":"2026-04-02T12:52:38.481Z","mo":"2026年作为“十五五”开局之年，国内经济整体有望延续企稳向好态势，扩大内需、新质生产力相关产业支持政策陆续出台，促进经济增长动能回升，企业盈利改善、增量资金入市等有望成为核心支撑因素，市场整体活跃度有望延续。行业层面看，药械集采和医保谈判常态化，创新支持力度持续加强、BD出海落地、优质临床数据读出等，助力医药行业逐步企稳回升，同时全球医药投融资环境预期改善，CXO板块需求端有望迎来复苏。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2025年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1456876","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e80","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-26T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内内外部环境相对温和，反内卷政策持续推进，得益于AI技术发展及全球算力需求提升，科技创新领域催化因素较多，两市成交额进一步走高，主要宽基指数普遍上涨，其中创业板、科创板、中小市值宽基涨幅更高，行业层面分化依然较大，其中通信、电子、电力设备、有色金属等行业涨幅较大，银行、交通运输、石油石化、公用事业等行业走势相对落后。国证生物医药报告期内上涨21.04%。关于本基金的运作，仓位维持在94%左右的水平，基本完成了对基准的跟踪。","lastUpdated":"2026-03-09T14:27:12.288Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2025年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1369596","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e7f","date":"2025-06-29T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内受海外贸易摩擦、局部地缘冲突等因素影响，市场波动较大，伴随宏观政策持续发力，以及关税谈判取得初步进展，市场风险偏好逐步修复，主要宽基指数走势总体呈现宽幅震荡，其中小微盘股走势相对较强，行业表现分化明显，申万一级行业指数中有色金属、银行、国防军工、传媒、通信等行业领涨，煤炭、食品饮料、房地产、石油石化等行业走势相对较弱。国证生物医药报告期内上涨1.55%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2025-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.285Z","mo":"伴随国内医药政策逐步向好，以及创新药国际化进展加速，医药行业总体情绪有望持续提振，国内医药创新支持力度加大，集采规则优化、创新药目录、商保支付等政策陆续出台，行业需求有望逐步回暖，海外BD项目及金额持续加大，创新药商业化能力持续兑现，创新药产业链需求逐步恢复，叠加供给端产能去化及降本增效，业绩端有望逐步企稳修复。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1339089","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e7e","date":"2025-03-30T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内宏观政策持续发力，叠加科技领域相关热点较多，提振市场预期，科技和机器人相关板块走势较强，伴随两会召开及相关政策表述，以及临近年报及一季报业绩披露高峰期，市场关注点及配置方向有所切换。申万一级行业指数走势分化，其中有色金属、汽车、机械设备、计算机、钢铁等行业领涨，煤炭、商贸零售、石油石化、建筑装饰、房地产等行业有所回调。行业层面看，创新药BD交易活跃、业绩回暖，以及国内支持性政策持续落地，构建多层次支付体系，集采有望边际优化等，有助于板块情绪及估值持续修复。国证生物医药指数报告期内上涨0.65%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2025-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.282Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2025年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1267479","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e7d","date":"2024-12-30T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内内外部环境发生较大变化，四季度宏观政策持续发力，加大逆周期调节力度，提振市场预期，后续继续关注增量政策的推出及落地情况；报告期内市场总体呈现先抑后扬态势，市场成交明显抬升，申万一级行业指数走势分化，其中非银金融、银行、通信、家用电器、电子等行业领涨，医药生物、农林牧渔、美容护理、食品饮料等行业有所回调。国证生物医药指数报告期内下跌24.68%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2025-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.279Z","mo":"宏观层面看，增量政策持续落地趋势下经济增长仍有韧性，内部不确定性有望降低，企业盈利有望逐步企稳回升，流动性环境适度宽松，市场风险偏好及吸引力相对较高；行业层面看，过去几年受集采、行业规范等影响，板块走势相对低迷，政策端看创新药械相关支持政策仍在持续推出，商保推进也有望在支付端更加多元化，此外，AI技术发展，在医疗相关的精准诊疗、手术机器人等领域有着较大的应用潜力，市场关注度有望持续抬升。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1249224","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e7c","date":"2024-09-29T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内，宏观政策持续发力，包括加大财政货币政策逆周期调节力度、进一步推出地产领域放松政策、创新结构性货币政策工具支持资本市场、推动中长期资金入市指导意见等，提振市场预期，后续继续关注增量政策的推出及落地情况；报告期内市场总体呈现震荡回调、季末快速回升态势，同时成交量明显放大，市场关注度升温，申万一级行业指数普遍上涨，其中非银金融、房地产、商贸零售、社会服务等行业领涨，新能源、消费医药等板块走势修复明显。国证生物医药指数报告期内上涨21.27%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2024-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.277Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2024年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1171134","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e7b","date":"2024-06-29T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内宏观稳增长政策持续落地，经济数据及市场情绪有所修复，但过程中仍有波折，相关政策效果仍需更多时间验证，市场总体走势波动较大，风格上偏好大市值、高股息资产，小微盘、成长风格相对承压，行业层面看，银行、煤炭、公用事业、家用电器等行业领涨，社会服务、商贸零售、计算机、综合等行业回调幅度较大。国证生物医药指数报告期内下跌29.33%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2024-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.274Z","mo":"医药板块在经营改善、低基数等因素带动下，下半年整体增速有望改善；血制品供需两端均有改善，行业严监管下头部集中度趋势明显，需求端持续增长，国产替代及产品升级空间较大，疫苗领域关注创新产品管线布局和推进情况；伴随全链条支持创新药顶层政策出台，创新方向支持力度有望加强，海外降息预期升温，全球流动性边际改善对创新类资产的定价也较为有利。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1149997","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e7a","date":"2024-03-30T16:00:00.000Z","stockId":3000000161726,"sao":"两会确认全年增长目标，强调发展新质生产力，报告期内国内经济总体呈现持续修复，3月制造业PMI为50.8%，重返景气扩张周期，出口超季节性走强，内需亦有回暖；市场表现看，一季度总体波动较大，年初回调后持续修复，行业走势分化较大，其中银行、石油石化、煤炭、家用电器等行业领涨，生物医药、计算机、电子、综合等行业回调幅度较大；医药部分细分板块受海外相关政策预期影响较大，国内相关创新方向支持政策仍在持续落地，AACR、ASCO等重要学术会议在二季度召开，国内创新药企重磅数据有望发布。国证生物医药指数报告期内下跌17.97%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2024-04-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.271Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1067454","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e79","date":"2023-12-30T16:00:00.000Z","stockId":3000000161726,"sao":"整体来看，国内经济年内波动较大，制造业PMI走势呈现较为震荡，投资数据全年较弱，社会消费品零售总额数据波动较大，出口数据年底有所好转；市场走势来看，市场总体震荡走弱，下半年以来波动加大；分行业看，通信、传媒、计算机、电子石油化工等行业走势相对较强，美容护理、商贸零售、房地产、电力设备等行业走势较弱。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了指数跟踪的投资目标。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.268Z","mo":"2024年中央经济工作重点确立“先立后破”，国内经济或将企稳回升，流动性整体有望延续合理充裕；医药行业政策持续优化，支持创新方向发展，有望引导企业以临床价值为核心布局新药研发，创新方向多年布局后逐步进入商业化兑现阶段，出海持续落地，海外降息趋势下也有望提振创新方向估值，部分领域受贸易关系等影响波动加大，仍需持续跟踪实际落地情况，医药创新发展和国际化是长期方向，需求端受经济增长、收入提升、人口老龄化等推动未来具备增量。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1056461","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e78","date":"2023-09-29T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内稳增长相关政策持续落地，同时经济数据依然较弱，叠加外部环境等影响，总体市场情绪和流动性相对偏弱，主要指数表现分化，热点主题轮动加快，其中非银金融、煤炭、石油石化、钢铁等行业领涨，电力设备、传媒、计算机、通信等行业回调幅度较大。国证生物医药指数报告期内上涨3.36%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2023-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.266Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2023年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=984167","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e77","date":"2023-06-29T16:00:00.000Z","stockId":3000000161726,"sao":"生物医药指数2023年上半年下跌22.24%，仓位维持在94.5%以上，运作上保持了一定程度的稳定；生物医药板块是和投融资环境以及利率周期敏感的板块。对于头部公司CXO的项目数量主要还是受到国内、国外投融资因素影响，市场对于产业的景气度有所担心，5月份以来海外投融资数据恢复趋势向好，国内拐点的出现还需要时间判断；长久期角度可以挣海外投融资beta的钱，但是短期因为新冠订单基数、投融资传导周期使得新签订单和业绩承压。数据恢复需要时间，但是板块估值已经偏低。疫苗从成长性看要看新的公司和大公司管线的进展，如果是短期修复的角度来看，阶段性看相应公司商业化能力能否兑现业绩，还是需要一些催化的因素，但是估值已经处于左侧偏低位置。筹码结构已经大幅改善，整体来看已经具有投资价值。","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.261Z","mo":"经过2023上半年的调整，总量经济相关资产的风险溢价处于历史较低水平，显示市场对经济增长的疲软预期，也隐含了指数进一步深度调整的空间较为有限。央行逆回购利率与MLF、LPR调降、国常会研究提出了“一批政策措施”，并提出具备条件的政策措施要“及时出台、抓紧实施”，预示着后续的市场或将重点关注政策落地力度和效果。下半年宏观环境正在改善，经济存在内生修复迹象，政策预期将继续加码，或为行情回升信号。市场从政策底到市场底将迎来情绪修复。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=957964","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e76","date":"2023-03-30T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内，TMT相关板块热度较高，在市场整体增量资金有限的情况下，对其他板块形成明显的资金分流效应，行业的表现分化明显，其中计算机、传媒、电子、通信等板块涨幅较大，地产、商贸零售、银行等走势回调。本基金基准指数国证生物医药指数报告期内下跌6.92%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2023-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.258Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2023年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=882622","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e75","date":"2022-12-30T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内，受疫情及国际地缘政治风险事件等诸多变量影响，市场盈利预期及风险偏好回落，市场整体波动较大，行业的表现分化明显，其中煤炭板块有所上涨，电子、建材、传媒、计算机、电力设备等走势回调。本基金基准指数国证生物医药指数报告期内下跌28.56%。关于本基金的运作，仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2023-01-17T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.256Z","mo":"2022年内外部情况错综复杂，2023年上半年的国内大环境是经济向好、稳增长政策延续发力、流动性维持合理充裕，即增长向好叠加利率平稳，市场有望演绎以估值修复为主的震荡向上行情。但由于盈利可能难以大幅改善，不具备全面牛市的条件。下半年大环境是国内经济继续稳中向好，然而稳增长政策可能逐步退出、通胀风险逐步显现，流动性可能有所收紧，即增长向好叠加利率上行；2023年消费恢复的大方向明确，整体而言，今年关注：高景气成长板块、防疫优化措施预期不断，景气与估值相跟随的部分消费品、稳增长预期下的新老基建领域、互联网平台经济企业。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=866001","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e74","date":"2022-09-29T16:00:00.000Z","stockId":3000000161726,"sao":"报告期对指数进行了比较好的跟踪，基本仓位维持在94.5%左右；报告期指数下跌了24.17%，行情演绎上估值已经没有疫情增量部分，进入合理水平；创新药产业链受到产业周期和利率周期的影响跌幅较大，偏消费属性的行业受到影响较小；我们认为生物医药板块在经历这么大的波动后依然有其投资价值，右侧投资需要拐点，但是对健康生活的向往，有关键环节技术瓶颈的公司在大环境的变化下依然有其核心竞争力。","declarationDate":"2022-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.253Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2022年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=801630","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e73","date":"2022-06-29T16:00:00.000Z","stockId":3000000161726,"sao":"报告期对指数进行了比较好的跟踪，基本仓位维持在94.5%左右，积极参与定增，并做好流动性提供。","declarationDate":"2022-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.250Z","mo":"“稳增长”政策落地叠加疫情影响逐步消退，基本面预期最悲观时刻或已过去，展望下半年，经济预期上修，风险偏好与风险评价积极变化；行业层面看，医药板块政策预期、融资环境、业绩等维度均有向好趋势，估值及机构持仓低位背景下继续关注板块配置机会。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=782740","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e72","date":"2022-03-30T16:00:00.000Z","stockId":3000000161726,"sao":"报告期国证生物医药指数，下跌10.36%，好于市场整体情况，疫苗板块整体表现较好，CXO板块由于之前估值较高和短期逻辑的争议，短期波动较大，整体而言我们觉得这些担心最后都被修正了，生物医药板块已经较为有性价比；本季度基金基本完成了跟踪指数。","declarationDate":"2022-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.248Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2022年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=723378","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e71","date":"2021-12-30T16:00:00.000Z","stockId":3000000161726,"sao":"2021年国内经济整体呈现倒U型，货币全年维持相对宽松。2021年A股表现分化相对较大，从行业来看，电力设备、有色金属、煤炭、基础化工、钢铁等行业板块涨幅相对较高，家用电器、非银金融、房地产、社会服务等行业板块跌幅较大。2021年本基金的基准指数国证生物医药指数报告期内下跌11.42%。报告期内，本基金股票仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2022-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.245Z","mo":"2021年制造业PMI数值在3月份见顶后呈现持续回落态势，11月份有所回升。总体经济走弱的同时，经济结构不均衡的问题依然突出，出口一枝独秀，制造业投资改善但幅度有限，基建投资、消费持续弱势，地产投资面临考验。从投向实体经济的流动性角度看，代表性指标社融存量增速得益于央行在二季度末、三季度初的积极鼓励政策和财政地方债发力后置等因素自10月开始企稳回升。价格方面，CPI同比呈现温和上扬趋势，PPI同比因为供给侧受限而在10月达到13.5%的超高水平、之后受政策保供稳价影响开始逐步回落。当前来看，2022年经济下行压力依旧存在，后续需观察稳增长政策的进一步落地。此外考虑到目前经济仍处于回落周期中，PPI对CPI的传导相对滞后，预计PPI后续开始回落，CPI将继续上升。2021年中盘凭借优异的盈利优势，全年跑赢大盘风格。2021年前三季度累计沪深300、中证500、中证1000指数的归母净利润增长率分别为22.00%、42.83%和30.14%，中证500盈利增速优势明显，三季度沪深300、中证500与中证1000归母净利润增速分别为-3.62%、23.69%和3.31%，尽管增速较Q2有明显回落，但中证500优势依旧明显。展望2022年，全年来看大盘风格或将更为占优：一方面，2022年经济下行压力加大的环境下市场将进一步追求盈利稳定性，而2022年大盘盈利预期较为稳定，但小盘盈利预期较2021年大幅下行优势不再；另一方面，经历了2021年的持续上行后，中小盘估值性价比已有所下降，而大盘在经历持续震荡后估值性价比逐渐提升，且筹码结构已恢复相对合理。伴随疫情防控体系进一步完善，消费行业有望受益于疫情冲击的边际减弱以及国内稳增长政策的实施，带来估值及业绩修复。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=711697","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e70","date":"2021-09-29T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内经济数据较二季度见顶后持续回落，并在9月份回落至枯荣线以下；从流动性情况来看，短端货币市场依然维持宽松，但波动有所加大，投向实体的信用持续回落，企业中长期贷款增速见顶回落。从行业来看，煤炭、公用事业、有色金属、钢铁、化工等行业板块涨幅较大，医药、休闲服务、食品饮料、传媒、家电、纺织服装等行业板块下跌较多。本基金的基准指数国证生物医药指数报告期内下跌13.72%。关于本基金的运作，股票仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2021-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.242Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2021年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=651270","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e6f","date":"2021-06-29T16:00:00.000Z","stockId":3000000161726,"sao":"报告期内，国内经济增长保持较强韧性，货币政策保持中性。报告期内A股表现分化相对较大，从行业来看，电气设备、电子、汽车、综合等行业板块涨幅相对较高，家用电器、农林牧渔、房地产、公用事业等行业板块跌幅较大。本基金跟踪的标的指数生物医药指数报告期内上涨16.91%。关于本基金的运作，股票仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","declarationDate":"2021-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.240Z","mo":"宏观角度看，当前经济仍处于较去年修复、短期出现弱势迹象的状态，与此同时结构依然不够均衡，制造业投资和消费还远不及疫情前水平。展望下半年，经济结构分化依然是比总量更为重要的核心问题，预计之后会逐步好转。上半年伴随新冠疫苗逐步上市接种、叠加一季报业绩催化，生物医药指数中的疫苗、CXO等细分领域走势较好，步入下半年，医药政策进入密集落地期，来自政策和各项因素的扰动增加，加大医药板块的波动性，预计医药行业结构化行情概率仍比较高，重点关注医保免疫板块主要包括CXO、疫苗、消费医疗、创新器械等，业绩仍是医药板块的核心驱动力，预计医药景气领域业绩兑现能力较强，医药具备科技和消费双重属性，政策鼓励创新、老龄化趋势下，新的技术催生更符合临床需求的新品种，去满足更多的国内及未来的国际化市场，医药长线机会仍然较好。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2021年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=631045","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e6e","stockId":3000000161726,"sao":"报告期内，国内经济恢复良好，政策稳中偏紧。报告期内A股先扬后抑，从行业来看，钢铁、公用事业、银行、休闲服务、建筑装饰等行业板块涨幅为正，国防军工、非银金融、通信、计算机、传媒等行业板块跌幅较大。本基金的基准指数国证生物医药指数报告期内下跌1.22%。报告期内，本基金股票仓位维持在94.5%左右的水平，基本完成了对基准的跟踪。","date":"2021-03-30T16:00:00.000Z","declarationDate":"2021-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.237Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2021年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=571566","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e6d","stockId":3000000161726,"sao":"报告期内，受新冠疫情影响，国内经济下滑，货币政策相对宽松。报告期内A股从行业来看，申万休闲服务、电气设备、食品饮料、国防军工、医药生物板块涨幅较大，房地产、通信、建筑装饰、纺织服装、银行等行业板块跌幅相对较大。本基金的基准指数国证生物医药指数报告期内上涨72.80%。报告期内，本基金股票仓位维持在94.7%左右的水平，基本完成了对基准的跟踪。","date":"2020-12-30T16:00:00.000Z","declarationDate":"2021-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.234Z","mo":"1、2020年是风险资产大起大落的一年，疫情的演绎以及单边的流动性扩张逻辑主导了全球市场；随着疫苗的逐步接种、以及财政刺激政策的施行，欧美各国将逐渐由2020年的“K型复苏”转向全面复苏；从节奏看，受制于欧美疫苗的接种情况，经济全面恢复的时点更可能在2021年下半年，而相应的宽松货币政策退出则将进一步延后，在温和通胀的假设下，全球或仍将面临较为宽松的融资条件。2021年各国将进入疫后的深度修复期，经济恢复的强度和政策退出节奏之间的博弈将成为主导资产价格波动的主要因素。 2、就国内而言，2020年得益于流动性的宽松以及国内有效的抗疫形势，地产投资和出口部门是主要的经济拉动力量，制造业和消费表现相对较弱。预计2021年地产投资和出口或均呈现前高后低的走势，而制造业和消费部门的恢复情况将成为全年经济整体恢复强度的关键；货币政策方面，在海外疫情仍有较大反复、国内经济恢复仍不均衡以及全球主要央行继续维持超量宽松政策之下，未来一个季度货币政策保持中性的概率较大。3、展望2021年，在国内经济复苏延续性强而海外需求渐进修复的情况下，出口产业链将维持高景气，建议关注具有可持续性替代优势的出口细分行业，以及兼具周期盈利弹性和科技创新成长属性的先进制造业龙头、消费升级主题的投资机会。长期看来深100代表着宽基新经济的方向，但是局部行业和股票可能需要一段时间来消化估值。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数证券投资基金2020年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=554769","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e6c","stockId":3000000161726,"sao":"报告期内，经济持续恢复增长；消费需求稳定，投资增长明显，国际贸易好于预期。报告期内A股表现分化相对较大；从行业来看，休闲服务、国防军工、汽车、食品饮料、化工等行业板块涨幅较大，通信、商业贸易、计算机等行业板块略跌。本基金的基准指数国证生物医药指数报告期内上涨2.24%。关于本基金的运作，股票仓位维持在94.7%左右的水平，基本完成了对基准的跟踪。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-26T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.232Z","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数分级证券投资基金2020年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=487616","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed8c07fea5b3eb0595e6b","stockId":3000000161726,"sao":"报告期内，受新冠疫情影响，经济下行压力仍在，货币政策相对宽松。报告期内A股表现分化相对较大，从行业来看，医药卫生、休闲服务、电子、食品饮料、计算机等行业板块涨幅较大，采掘、银行、非银金融、交通运输、钢铁等行业板块跌幅相对较大。本基金的基准指数国证生物医药指数报告期内上涨71.75%。关于本基金的运作，股票仓位维持在94.7%左右的水平，基本完成了对基准的跟踪。","date":"2020-06-29T16:00:00.000Z","declarationDate":"2020-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T14:27:12.229Z","mo":"1、报告期内，随着新冠疫情在中国和海外的相继爆发，全球金融市场的表现一波三折；而全球经济也在逐步解封的过程中缓慢恢复，但整体的力度和持续性仍然存疑，因而积极的财政政策和货币政策仍难以过快退出。美国方面，6月以来，经济重启对生产和就业提振作用显著，但同时疫情在少数区域出现大幅爆发，引发市场对于经济再度陷入封锁的担忧。一方面，PMI较前期明显回升，6月美国Markit制造业PMI由前期39.8升至49.6，服务业PMI由前期37.5升至46.7；生产回暖也带动就业市场缓慢恢复，但消费信心的恢复则十分缓慢，或反映对疫情二次爆发的担忧。欧洲方面，在较好的疫情防控形势的支撑下，这一区域的经济恢复速度也相对较快。6月，欧元区制造业PMI由前期39.4回升至46.9，自5月以来已经连续两月回升；6月欧元区消费者信心指数由上期-18.8回升至-14.7。但由于需求的改善慢于生产和投资恢复，物价仍处于通缩状态，短期内通胀可能仍将处于较低水平。展望下半年，外围较为宽松的流动性环境在下半年仍将得以持续，预计财政政策将成为接力宽信用的主力。2、报告期内，受新冠疫情影响，一季度基本处于停工状态，随着逐步复工，二季度国内经济逐步恢复，恢复情况好于预期。2020年2季度实际GDP同比为3.2%，季调环比11.5%。6月工业增加值同比4.8%，固定资产投资累计同比-3.1%，社会消费品零售总额同比-1.8%。尽管经济全面改善，但居民消费意愿仍有部分压制，二季度名义人均消费支出单季度增速为负，从分项来看，汽车消费仍在回落，但化妆品、通讯器材以及家用电器增速较高。此外固定资产投资方面，地产投资改善相对较快，受到基建地产拉动，钢铁、水泥等产量的增速有明显回升。展望下半年，经济恢复仍未结束，预计信用仍会扩张，但需要关注洪涝对投资生产性需求的阶段性影响。3、报告期内，我国股票市场走势出现大幅波动（万得全A、沪深300、上证50、中证500涨跌幅度分别为6.95%、1.64%、-3.95%、11.33%）。股市呈现先抑后扬的局面，国内外的疫情形势演进成为关键线索；年初受到国内新冠肺炎疫情爆发的影响导致股市出现大幅调整之后，得益于央行及时进行充足流动性投放，使得市场情绪得以快速恢复。但3月中旬开始，疫情在欧美地区出现大面积爆发，处于高位的美股出现大幅调整，使得北上资金出现快速大幅净流出，国内市场再度出现震荡；3月下旬之后随着美联储运用多种非常规政策工具向市场投放充足流动性，同时伴随三轮总计规模达3万亿美元的财政刺激计划的出台，美股快速从低位反弹，也带动北向资金回补国内A股，市场出现震荡攀升，风险偏好缓慢回暖，但整体风格呈现割裂状态；6月底，伴随国内经济数据的持续好转，价值和成长风格之间的估值裂口呈现收敛趋势。从当前内外的宽松流动性环境、国内对于直接融资和资本市场的政策扶持以及居民大类资产配置向权益资产转移趋势的提速的几个因素考虑，下半年股市仍可期待，可继续关注更具行业高景气度和成长空间的科技板块。","fund":{"_id":3000000161726,"stockCode":"161726","stockType":"fund","areaCode":"cn","followedNum":977,"blackenedNum":0,"status":"normal","exchange":"sz","fundType":"stock","ipoDate":"2015-05-18T16:00:00.000Z","setUpScale":1130000000,"market":"a","tickerId":161726,"custody":"中国银行股份有限公司","name":"招商国证生物医药指数证券投资基金","shortName":"招商国证生物医药指数(161726)","fundSecondLevel":"company","__csrcFundId":3985,"fundStatus":"normal","lastUpdated":"2026-05-15T17:12:45.055Z","masterFundFlag":1,"inceptionDate":"2015-05-26T16:00:00.000Z","memoNum":3,"fundCollectionId":4000050210000,"currency":"CNY","masterFundShortName":"招商国证生物医药指数","pinyin":"zsgzswyyzszqtzjj","__indexSourceEastMoney":1,"__indexSourceCni":1,"indexFundFlag":1,"indexId":1000000399441,"lofFundFlag":1,"managers":[{"stockCode":"db20376719","stockType":"fund_manager","exchange":"fm","tickerId":808172690,"name":"侯昊"},{"stockCode":"db20793869","stockType":"fund_manager","exchange":"fm","tickerId":241813217260,"name":"许荣漫"}]},"announcement":{"linkText":"招商国证生物医药指数分级证券投资基金2020年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=454954","linkType":"PDF","source":"csrc_pdf"}}]}