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部分具备全球竞争优势的制造业龙头。","fund":{"_id":3000000016340,"__csrcFundId":11770,"stockCode":"016340","shortName":"银河价值成长混合(016340)","masterFundShortName":"银河价值成长混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":16340,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:00:45.928Z","status":"normal","exchange":"jj","fundCollectionId":4000050160000,"name":"银河价值成长混合型证券投资基金","inceptionDate":"2022-11-08T16:00:00.000Z","setUpDate":"2022-11-08T16:00:00.000Z","setUpAssetScale":59397872.06,"setUpShares":59397872.06,"pinyin":"yhjzczhhxzqtzjj","followedNum":5,"memoNum":1,"managers":[{"stockCode":"db20835918","stockType":"fund_manager","exchange":"fm","tickerId":1025223210,"name":"金烨"}]},"announcement":{"linkText":"银河价值成长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=1245401","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1c47fea5b3eb0522fcf","date":"2024-09-29T16:00:00.000Z","stockId":3000000016340,"sao":"今年三季度，权益市场波动较大。7月到9月中旬，市场基本延续了之前震荡下行的趋势，银行、公用事业等红利板块相对抗跌。但是，到了9月下旬，随着国家出台一系列支持经济企稳回升的政策，市场风险偏好快速提升，以TMT为代表的成长股和存在反转预期的地产链、金融相关品种表现亮眼，而前期表现强势的红利、资源板块相对滞涨。　　报告期内，我们延续了对于周期制造板块的配置，看好在经济结构转型过程中，中国有望从制造大国进阶成为制造强国。当前我们正身处百年未有之大变局，全球各国从“追求效率”逐步转向“追求安全”，逆全球化思潮逐渐抬头，在这样的大背景下，上游资源行业有望在供需两个维度长期受益，其高价格、高盈利的状态可能可以维持很长时间，因此我们看好以铜、原油、黄金、电解铝为代表的全球定价的资源类企业，并将在其中优选具备全球竞争力的企业进行配置。报告期内，我们适当加仓了受益于中国经济企稳预期的铜、铝等基本金属，减仓了防御属性的黄金和原油类个股。以化工、电子为代表的中游制造业，在类滞涨的经济环境下整体盈利承压，但我们也观察到一些优秀企业的盈利底部已经探明，同时估值性价比也处于历史较高位置，后续伴随行业产能投放周期的结束，有望进入新一轮盈利上行周期，因此我们也会继续在其中挑选成本曲线位于行业最左侧，未来仍有显著成长性的龙头进行中长期配置。","declarationDate":"2024-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:57:24.180Z","fund":{"_id":3000000016340,"__csrcFundId":11770,"stockCode":"016340","shortName":"银河价值成长混合(016340)","masterFundShortName":"银河价值成长混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":16340,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T01:00:45.928Z","status":"normal","exchange":"jj","fundCollectionId":4000050160000,"name":"银河价值成长混合型证券投资基金","inceptionDate":"2022-11-08T16:00:00.000Z","setUpDate":"2022-11-08T16:00:00.000Z","setUpAssetScale":59397872.06,"setUpShares":59397872.06,"pinyin":"yhjzczhhxzqtzjj","followedNum":5,"memoNum":1,"managers":[{"stockCode":"db20835918","stockType":"fund_manager","exchange":"fm","tickerId":1025223210,"name":"金烨"}]},"announcement":{"linkText":"银河价值成长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=1169084","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1c47fea5b3eb0522fce","date":"2024-06-29T16:00:00.000Z","stockId":3000000016340,"sao":"今年上半年，权益市场基本延续了震荡的格局，虽然指数表现平淡，但结构性机会依然存在。以煤炭、公用事业、银行为代表的红利类资产表现良好；人工智能的快速发展也带来了电子、通信相关板块的投资机遇。　　报告期内，我们延续了对于周期制造板块的配置，看好在经济结构转型过程中，中国有望从制造大国进阶成为制造强国。当前我们正身处百年未有之大变局，全球各国从“追求效率”逐步转向“追求安全”，逆全球化思潮逐渐抬头，在这样的大背景下，上游资源行业有望在供需两个维度长期受益，其高价格、高盈利的状态可能可以维持很长时间，因此我们看好以铜、原油、黄金、电解铝为代表的全球定价的资源类企业，并将在其中优选具备全球竞争力的企业进行配置。以化工、电子为代表的中游制造业，在类滞涨的经济环境下整体盈利承压，但我们也观察到一些优秀企业的盈利底部已经探明，同时估值性价比也处于历史较高位置，后续伴随行业产能投放周期的结束，有望进入新一轮盈利上行周期，因此我们也会在其中挑选成本曲线位于行业最左侧，未来仍有显著成长性的龙头进行中长期配置。","declarationDate":"2024-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:57:24.178Z","mo":"展望下半年，我们认为中国经济稳中向好的趋势并未发生变化，伴随着美联储降息周期的日益临近，权益市场的风险偏好有望持续提升。A股当前估值性价比在历史上处于非常高的位置，随着宏观经济的逐步修复以及海外流动性逐步宽松，我们对A股市场持谨慎乐观的态度。其中，制造业中的优秀企业将中长期受益于我国产业升级和工程师红利， 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