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3、前沿材料，高风险容忍度下的“技术期权”，例如AI+材料，机器人材料。","fund":{"_id":3000000019468,"__csrcFundId":13267,"stockCode":"019468","masterFundShortName":"信澳新材料精选混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19468,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:22:40.851Z","status":"normal","exchange":"jj","shortName":"信澳新材料精选混合(019468)","fundCollectionId":4000050550000,"name":"信澳新材料精选混合型证券投资基金","setUpAssetScale":162308993.8,"setUpDate":"2023-11-28T16:00:00.000Z","setUpShares":162308993.8,"inceptionDate":"2023-11-30T16:00:00.000Z","pinyin":"xaxcljxhhxzqtzjj","followedNum":3,"managers":[{"stockCode":"db20840088","stockType":"fund_manager","exchange":"fm","tickerId":713224560,"name":"郭敏"}]},"announcement":{"linkText":"信澳新材料精选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=1449189","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed30b7fea5b3eb053720c","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-26T16:00:00.000Z","stockId":3000000019468,"sao":"前三季度国内外宏观经济呈现结构性分化与政策驱动并存的特点。从国内来看，为经济复苏增长，政策支持力度持续加大。1-8月固定资产投资累计同比0.5%，制造业投资受“反内卷”政策影响，增速边际改善。消费方面，1-8月社会消费品零售总额同比增长4.6%，核心CPI同比连续5个月回升至1.0%，为近19个月新高，主要得益于黄金价格走高及以旧换新政策对耐用消费品的拉动。出口方面，1-9月累计同比增速维持在5.9%至8.3%之间，显示外需韧性较强。国外来看，美国经济延续温和增长，9月CPI同比2.7%，较年初回落明显，显示通胀压力边际缓解。美联储9月降息25BP，政策重心转向“稳就业”。人民币汇率前三季度累计升值超2.46%，主要受汇率预期与中美博弈影响，而非经济基本面驱动。整体来看，国内外宏观环境仍存在不确定性，政策对冲与结构性机会成为基金经理关注的重点。技术进步作为核心驱动力推动了固态电池的产业化进程，我目前正在重点关注固态电池这一方向。固态电池的配置策略是长期布局，精选标的。当前固态电池板块处于估值与业绩双击的启动期，我们建议沿着“技术确定性+量产能力+成本优势”的主线布局。短期关注半固态电池装车放量带来的业绩弹性，长期看好全固态电池材料体系龙头设备商。总体来说，我们认为固态电池正处于产业化准备期向工程化攻坚过渡的阶段，当前行情仍处于启动初期，半固态电池商业化验证提供了现实投资支撑，但也需要关注技术路线分化与量产进度风险。","lastUpdated":"2026-03-09T14:02:51.964Z","fund":{"_id":3000000019468,"__csrcFundId":13267,"stockCode":"019468","masterFundShortName":"信澳新材料精选混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19468,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:22:40.851Z","status":"normal","exchange":"jj","shortName":"信澳新材料精选混合(019468)","fundCollectionId":4000050550000,"name":"信澳新材料精选混合型证券投资基金","setUpAssetScale":162308993.8,"setUpDate":"2023-11-28T16:00:00.000Z","setUpShares":162308993.8,"inceptionDate":"2023-11-30T16:00:00.000Z","pinyin":"xaxcljxhhxzqtzjj","followedNum":3,"managers":[{"stockCode":"db20840088","stockType":"fund_manager","exchange":"fm","tickerId":713224560,"name":"郭敏"}]},"announcement":{"linkText":"信澳新材料精选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=1369240","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed30b7fea5b3eb053720b","date":"2025-06-29T16:00:00.000Z","stockId":3000000019468,"sao":"2025年上半年，国内外宏观经济运行呈现出不同的特点。在国内方面，上半年国内生产总值（GDP）达到660,536亿元，同比增长5.3%。其中，一季度GDP同比增长5.4%，二季度增长5.2%。从价格指标来看，CPI在6月份同比上涨0.1%，但整体上半年CPI同比增速较低，甚至在部分月份出现负增长。PPI则持续承压，6月份PPI同比降幅扩大至3.6%。固定资产投资方面，上半年全国固定资产投资（不含农户）同比增长2.8%，消费方面，社会消费品零售总额同比增长5.0%，其中商品零售额增长5.1%，服务零售额增长5.3%。出口方面，6月份出口金额同比增长5.9%，上半年累计增长5.9%。整体来看，国内经济在政策支持和外需带动下保持稳定增长，但内需修复仍存在结构性矛盾。在国际方面，美国上半年GDP同比增速预期为1.4%，就业率在6月份为59.7%，整体就业市场保持韧性。欧盟27国在6月份占中国进出口总额的比重为0.14%，显示中国对欧盟的出口保持稳定。全球贸易摩擦有所加剧，美国对多国商品加征关税，但中国出口仍表现出较强的韧性，尤其在机电产品和高技术产品出口方面增长显著。此外，美国7月CPI同比增速为2.95%，通胀压力仍需关注。综合以上分析，可以看出2025年上半年全球宏观经济环境呈现出一定的复苏迹象，但仍面临多重挑战，如高利率、地缘政治冲突等。作为新材料基金，我们在本基金运作时重点布局以下两个方向：1、我们始终认为科技创新是未来经济发展的重要驱动力。随着数字化、人工智能、物联网等技术的不断发展和应用，经济结构将发生深刻变化，也将为经济发展提供新的动力。随着我们技术进步及下游企业的互动增加，目前我国电子材料处于进口替代增速的高峰期，我们将看好相关材料的企业投资价值及长期发展；2、资源材料是工业生产的基础，它们提供了生产过程中所需的物质和能源，如铜、铝材等金属材料在制造业中扮演了重要角色，资源材料在工业进程中是不可或缺的，它们是工业生产的基础，也是企业生产成本控制和产品质量保证的关键因素，所以资源材料也是我们重点布局方向。","declarationDate":"2025-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T14:02:51.961Z","mo":"展望下半年，美欧日等主要经济体经济出现分化，通胀和货币政策变化尤其是美联储政策变化，对全球经济影响更为直接，贸易、货币政策变化等不确定性增多。中国经济尽管面临外部环境不确定性及内部结构调整压力，但仍具备稳定增长支撑，上半年5.3%的GDP增速为全年目标打下基础，服务业占比59.1%、消费贡献率超60%，新动能持续成长，进出口在二季度外部冲击下仍增长2.9%，显示经济韧性；宏观政策将协同发力，有关部门正加快推出下半年政策并加强储备，消费政策推动下消费市场有望延续活跃，机械工业等重点行业预计延续稳中向好态势。综合来看，中国经济下半年有望继续保持稳中有进、稳中向好态势。我国随着经济发展进入新阶段，产业结构调整将更加明显。传统制造业可能面临转型升级的压力，而高新技术产业、数字经济、绿色经济等新兴产业有望得到更多政策支持和发展空间。所以我们将继续加大我国优势制造业的配置。","fund":{"_id":3000000019468,"__csrcFundId":13267,"stockCode":"019468","masterFundShortName":"信澳新材料精选混合","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":19468,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:22:40.851Z","status":"normal","exchange":"jj","shortName":"信澳新材料精选混合(019468)","fundCollectionId":4000050550000,"name":"信澳新材料精选混合型证券投资基金","setUpAssetScale":162308993.8,"setUpDate":"2023-11-28T16:00:00.000Z","setUpShares":162308993.8,"inceptionDate":"2023-11-30T16:00:00.000Z","pinyin":"xaxcljxhhxzqtzjj","followedNum":3,"managers":[{"stockCode":"db20840088","stockType":"fund_manager","exchange":"fm","tickerId":713224560,"name":"郭敏"}]},"announcement":{"linkText":"信澳新材料精选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=1341768","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed30b7fea5b3eb053720a","date":"2025-03-30T16: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