window.pageData = {"stock":{"_id":3000000020899,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起A","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"index":{"areaCode":"cn","stockType":"index","exchange":"csi","stockCode":"931160","tickerId":931160,"name":"通信设备","rebalancingFrequency":"semi-annually"},"fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50430000","tickerId":50430000,"name":"天弘基金管理有限公司"},"managers":[{"name":"张戈","stockType":"fund_manager","stockCode":"db20703478","exchange":"fm","tickerId":2607227940}],"hotMetrics":{"fss":{"stockId":3000000020899,"type":"fss","f_s_s_d":"2024-06-29T16:00:00.000Z","f_ins_h_s_r":0.5034000000000001,"f_ind_h_s_r":0.4966,"f_h_a":570,"f_h_s_a":28233,"last_data_date":"2025-06-29T16:00:00.000Z","f_ind_h_s_r_c_hy":0.11649999999999999,"f_ins_h_s_r_c_hy":-0.11649999999999994,"f_ind_h_s_r_c_1y":0.3564,"f_ins_h_s_r_c_1y":-0.35639999999999994},"fpr":{"stockId":3000000020899,"type":"fpr","f_p_r_fys_ssc":5566,"f_p_r_fys_ssrp":0.0215633423180593,"f_p_r_m1_ssc":5808,"f_p_r_m1_ssrp":0.08042018253831583,"f_p_r_m3_ssc":5668,"f_p_r_m3_ssrp":0.007411328745367919,"f_p_r_m6_ssc":5368,"f_p_r_m6_ssrp":0.005217067262902926,"f_cagr_p_r_fs_ssc":5862,"f_cagr_p_r_fs_ssrp":0.009895922197577206,"f_p_r_y1_ssc":4629,"f_p_r_y1_ssrp":0.0012964563526361278,"f_p_r_y2_ssc":3527,"f_p_r_y2_ssrp":0.0045377197958026095},"fp":{"stockId":3000000020899,"type":"fp","f_cagr_p_r_fs":0.8812713677383621,"f_p_r_d1":-0.0003399915002125775,"f_cagr_p_r_fs_sic":8,"f_cagr_p_r_fs_sirp":0,"f_p_r_m1":0.218410041841004,"f_p_r_m1_sic":8,"f_p_r_m1_sirp":0,"f_p_r_m3":0.3897209985315717,"f_p_r_m3_sic":8,"f_p_r_m3_sirp":0.8571428571428571,"f_p_r_m6":0.6871378910776362,"f_p_r_m6_sic":7,"f_p_r_m6_sirp":0.8333333333333334,"f_p_r_fys":0.44538200145088047,"f_p_r_fys_sic":8,"f_p_r_fys_sirp":0.8571428571428571,"last_data_date":"2026-05-11T16:00:00.000Z","f_p_r_y1":2.41045045045045,"f_p_r_y2":2.6685725360984613},"ff":{"stockId":3000000020899,"type":"ff","f_m_f_r":0.0045,"f_c_f_r":0.0005,"f_m_a_c_f_r":0.004999999999999999,"f_m_c_f_d":"2024-06-29T16:00:00.000Z","f_c_f":1667,"f_m_a_c_f":16672,"f_m_f":15005,"f_c_fr":0.0005,"f_fr_d":"2025-06-29T16:00:00.000Z","f_m_fr":0.0045,"f_mac_fr":0.004999999999999999},"f_nlacan":{"stockId":3000000020899,"type":"f_nlacan","f_nv_d":"2026-05-11T16:00:00.000Z","f_nv":3.7856,"f_nv_cr":0.01433509284317136},"f_as":{"stockId":3000000020899,"type":"f_as","f_tas":330673199.067,"f_tas_d":"2026-03-30T16:00:00.000Z"}},"masterSlaveFunds":[{"_id":3000000020900,"name":"天弘中证全指通信设备指数型发起式证券投资基金","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","status":"normal","indexFundFlag":1,"stockCode":"020900","tickerId":20900,"shortName":"天弘中证全指通信设备指数发起C","currency":"CNY","__csrcFundId":13861,"exchange":"jj","masterFundFlag":null,"activeFundFlag":null,"etfFundFlag":null,"lofFundFlag":null,"pensionTargetFlag":null,"feederFundFlag":null,"classificationFlag":null,"closedEnd":null,"lastUpdated":"2026-05-08T17:13:54.302Z","fundCollectionId":4000050430000,"pinyin":"thzzqztxsbzsxfqszqtzjj","inceptionDate":"2024-04-16T16:00:00.000Z","__indexSourceEastMoney":1,"followedNum":4,"indexId":1000000931160}],"shareholdings":[{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":300502,"holdings":396728,"marketCap":175687027,"netValueRatio":0.143,"quarterlyChange":0.027757148161901002,"stock":{"stockCode":"300502","exchange":"sz","stockType":"company","tickerId":300502,"name":"新易盛"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":300308,"holdings":282440,"marketCap":160824160,"netValueRatio":0.1309,"quarterlyChange":-0.06654098360655702,"stock":{"stockCode":"300308","exchange":"sz","stockType":"company","tickerId":300308,"name":"中际旭创"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":601138,"holdings":2354588,"marketCap":121167098,"netValueRatio":0.0986,"quarterlyChange":-0.16619693163324978,"stock":{"stockCode":"601138","exchange":"sh","stockType":"company","tickerId":601138,"name":"工业富联"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":300394,"holdings":281960,"marketCap":85039136,"netValueRatio":0.0692,"quarterlyChange":0.4854947544697832,"stock":{"stockCode":"300394","exchange":"sz","stockType":"company","tickerId":300394,"name":"天孚通信"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":600487,"holdings":1253300,"marketCap":65998778,"netValueRatio":0.0537,"quarterlyChange":1.129397492923578,"stock":{"stockCode":"600487","exchange":"sh","stockType":"company","tickerId":600487,"name":"亨通光电"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":63,"holdings":1907700,"marketCap":61885788,"netValueRatio":0.0504,"quarterlyChange":-0.1427061310782245,"stock":{"stockCode":"000063","exchange":"sz","stockType":"company","tickerId":63,"name":"中兴通讯"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":600522,"holdings":1705700,"marketCap":51324513,"netValueRatio":0.0418,"quarterlyChange":0.660596026490065,"stock":{"stockCode":"600522","exchange":"sh","stockType":"company","tickerId":600522,"name":"中天科技"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":300136,"holdings":562300,"marketCap":36527008,"netValueRatio":0.0297,"quarterlyChange":0.047741935483869735,"stock":{"stockCode":"300136","exchange":"sz","stockType":"company","tickerId":300136,"name":"信维通信"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":600498,"holdings":568600,"marketCap":28702928,"netValueRatio":0.0234,"quarterlyChange":0.5735660847880308,"stock":{"stockCode":"600498","exchange":"sh","stockType":"company","tickerId":600498,"name":"烽火通信"}},{"date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000020899,"stockId":2281,"holdings":281200,"marketCap":23705160,"netValueRatio":0.0193,"quarterlyChange":0.20514653323802823,"stock":{"stockCode":"002281","exchange":"sz","stockType":"company","tickerId":2281,"name":"光迅科技"}}],"lastFsMetrics":{"latestTurnoverRate":3.1890249185896864,"latestTurnoverRateDate":"2025-06-29T16:00:00.000Z"}},"list":[{"_id":"69e8ec511398d79843fe9cba","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","stockId":3000000020899,"sao":"2026 年一季度，通信设备行业在AI算力高景气、全球云资本开支扩张与国内数字基建加码的多重驱动下，呈现板块强势领涨、结构高度分化、光通信一枝独秀的运行格局。行业整体震荡上行，显著跑赢大盘，资金持续向光纤光缆、高速光模块、算力互联、国产光器件等硬科技赛道集中，呈现业绩与估值共振上行态势。行业基本面呈现设备端强、运营端弱的鲜明分化。全球云厂商资本开支大幅增长，AI算力网络建设进入高峰期，800G/1.6T 高速光模块需求爆发，头部企业在手订单饱满，部分龙头订单已排至 2027—2028 年，量价齐升带动盈利大幅改善。算电协同创新，AIDC数据中心建设落地，为传输设备、光纤光缆、算力配套设备提供稳定需求支撑。与此同时，运营商受税率调整、传统业务增长放缓影响，整体收入承压，对配套设备的集采节奏更趋理性。板块内部行情高度聚焦，光通信成为绝对主线，光模块、光器件、光纤光缆细分龙头股价屡创新高；算力交换机、服务器配套、边缘通信设备等细分领域跟随景气上行；而传统通信配套、低壁垒终端设备等标的表现平淡，盈利确定性与订单能见度成为核心定价因素。在此市场状态下，管理人一直以降低跟踪误差为操作目标，按照基金合同约定采用完全复制的策略进行投资运作，并力争在跟踪误差允许范围内获取更高收益。产品的日均跟踪偏离和跟踪误差主要来自基金每日的申购赎回导致的基金仓位和结构变化。","lastUpdated":"2026-04-22T15:42:09.540Z","fund":{"_id":3000000020899,"__csrcFundId":13861,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-08T17:15:29.760Z","status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起(020899)","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"managers":[{"stockCode":"db20703478","stockType":"fund_manager","exchange":"fm","tickerId":2607227940,"name":"张戈"}]},"announcement":{"linkText":"天弘中证全指通信设备指数型发起式证券投资基金2026年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1472705","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3747fea5b3eb053d6de","date":"2025-12-30T16:00:00.000Z","declarationDate":"2026-01-21T16:00:00.000Z","stockId":3000000020899,"sao":"2025年四季度，A股市场在宏观环境持续改善的背景下，整体呈现震荡上行的强势格局。回顾2025年全年，结构性行情尤为突出。科技成长、先进制造板块为投资主线，引领大盘持续向上突破。人工智能(AI行业)、机器人等产业链上市公司涨幅较大。在全球流动性泛滥等宏观因素影响下，有色金属等行业涨幅亦名列前茅。而以食品饮料、房地产链为代表的消费、周期类公司不涨反跌。AI行业尤其是海外算力赛道的景气度持续兑现，且多次超预期。把握产业景气主线，是当前投资选择与判断的关键前提。当前AI算力的高景气状态，需求维度体现得最为明显。订单持续放量，景气周期延伸至2027年。市场对赛道的定价逻辑已从2026年厂商资本开支的正面预期，延伸至2027年的景气确定性。随着2027年订单饱满甚至外溢的趋势逐步确认，通信设备、科创板算力股（尤其是海外算力股）持续走强，是2026-2027年持续景气的共振效应推动估值与业绩双赢。在此市场状态下，管理人一直以降低跟踪误差为操作目标，按照基金合同约定采用完全复制的策略进行投资运作，并力争在跟踪误差允许范围内获取更高收益。产品的日均跟踪偏离和跟踪误差主要来自基金每日的申购赎回导致的基金仓位和结构变化，以及打新收益等。","lastUpdated":"2026-03-09T14:04:36.946Z","fund":{"_id":3000000020899,"__csrcFundId":13861,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-08T17:15:29.760Z","status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起(020899)","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"managers":[{"stockCode":"db20703478","stockType":"fund_manager","exchange":"fm","tickerId":2607227940,"name":"张戈"}]},"announcement":{"linkText":"天弘中证全指通信设备指数型发起式证券投资基金2025年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1455447","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3747fea5b3eb053d6dd","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000020899,"sao":"2025年三季度，A股市场在宏观环境持续改善的背景下，整体呈现震荡上行的强势格局。回顾今年前三季度，结构性行情尤为突出。科技成长、先进制造板块为投资主线，引领大盘持续向上突破。人工智能革命带来的算力需求暴涨，使得以光模块为代表的通信设备企业盈利增加，股价上涨。展望未来，通信设备行业景气度持续向好。报告期内，本基金净值和规模显著提升。特别是指数涨幅较大时，净申购额占比高，在途资金占比高，对基金投资造成一定影响。管理人按照基金合同约定采用完全复制的投资策略来控制跟踪误差。日均跟踪偏离和跟踪误差主要来自基金每日的申购赎回导致的基金仓位变化。","lastUpdated":"2026-03-09T14:04:36.939Z","fund":{"_id":3000000020899,"__csrcFundId":13861,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-08T17:15:29.760Z","status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起(020899)","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"managers":[{"stockCode":"db20703478","stockType":"fund_manager","exchange":"fm","tickerId":2607227940,"name":"张戈"}]},"announcement":{"linkText":"天弘中证全指通信设备指数型发起式证券投资基金2025年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1373914","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3747fea5b3eb053d6dc","date":"2025-06-29T16:00:00.000Z","stockId":3000000020899,"sao":"报告期内，本基金管理人以降低跟踪误差为操作目标，按照基金合同约定采用完全复制的策略进行投资运作。日均跟踪偏离和跟踪误差主要来自基金每日的申购赎回导致的基金仓位变化。尤其是在4月初关税冲击下，指数涨跌幅和申购资金均出现异常波动。申购资金集中涌入，产品仓位被动下降，同时指数大幅上涨，导致净值与基准出现偏离。后续随着产品规模逐渐稳定，申赎资金对产品净值的影响有望降低。","declarationDate":"2025-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:04:36.936Z","mo":"2025年上半年A股市场在宏观经济温和复苏与政策持续发力的背景下，呈现出中枢震荡上移的态势。尽管短期面临关税扰动和内需修复强度的挑战，但管理人对中期市场持积极观点，结构性机会将成为市场主导力量。财政与货币政策的\"双宽松\"格局为市场奠定基础——专项债额度扩容，3000亿\"以旧换新\"特别国债刺激消费；同时央行呵护市场，流动性环境整体充裕。出口方面，上半年\"抢出口\"效应支撑韧性，但下半年关税滞后影响可能显现，需关注中美关税停战后的贸易修复情况以及美国\"大而美\"法案对需求的潜在提振。资金流向的积极变化或将进一步强化市场动能。外资态度正从\"去中国化\"转向\"再中国化\"，巴克莱、瑞银等机构二季度新进科技等细分领域龙头，对科技硬资产和核心企业的配置兴趣显著提升。内资方面，\"资产荒\"背景下理财资金加速转向权益市场，预计公募与险资增量规模将继续上升。资本市场政策周期亦提供支撑，回购增持再贷款等工具为A股注入流动性。科技革命正在成为持续3-5年的投资主线，AI与高端制造领域正从技术突破转向产业落地。政策明确支持AI大模型商业化，北京、上海等地加速建设算力中心，国产化进程推动芯片企业受益；人形机器人产业链迎来爆发，特斯拉Optimus量产在即，行星滚柱丝杠、六维力传感器等核心部件需求激增。半导体国产替代逻辑强化。科技行业指数行情有望持续往纵深发展。","fund":{"_id":3000000020899,"__csrcFundId":13861,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-08T17:15:29.760Z","status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起(020899)","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"managers":[{"stockCode":"db20703478","stockType":"fund_manager","exchange":"fm","tickerId":2607227940,"name":"张戈"}]},"announcement":{"linkText":"天弘中证全指通信设备指数型发起式证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1340818","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3747fea5b3eb053d6db","date":"2025-03-30T16:00:00.000Z","stockId":3000000020899,"sao":"2025年一季度，通信设备指数震荡下跌。本基金按照基金合同约定采用完全复制的投资策略来控制跟踪误差。日均跟踪偏离和跟踪误差主要来自基金每日的申购赎回导致的基金仓位变化。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:04:36.933Z","fund":{"_id":3000000020899,"__csrcFundId":13861,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-08T17:15:29.760Z","status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起(020899)","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"managers":[{"stockCode":"db20703478","stockType":"fund_manager","exchange":"fm","tickerId":2607227940,"name":"张戈"}]},"announcement":{"linkText":"天弘中证全指通信设备指数型发起式证券投资基金2025年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1270063","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3747fea5b3eb053d6da","date":"2024-12-30T16:00:00.000Z","stockId":3000000020899,"sao":"本基金自2024年4月成立以来，按照基金合同约定采用完全复制的投资策略来控制跟踪误差，并力争在跟踪误差允许范围内获取更高收益。期间通信设备指数波动较大，2024年三季度前表现低迷；10月初市场大涨，通信设备指数大幅反弹，产品净值也有明显上升。本基金整体运行平稳，日均跟踪偏离和年化跟踪误差均控制在合理范围内。日均跟踪偏离和跟踪误差主要来自基金每日的申购赎回导致的基金仓位变化。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:04:36.930Z","mo":"AI技术迭代周期下，下游应用厂商持续大规模进行资本开支，拉动上游设备公司营收大幅增加。通信设备为全市场为数不多的高景气度行业。DeepSeek带来的AI训练和推理降本，将刺激下游应用爆发式增长，短期看来利空算力，但实则为算力硬件的Jevons时刻，短期情绪利空，长期需求上升。亚马逊、谷歌、META等大厂在在考虑了DeepSeek的情况下，仍对2025年资本开支给出了增长50%-100%的指引。算力上游设备行业景气可期。下游应用公司无论商业模式和业态如何演化，都将在未来相当长一段时间维持高资本开支。AI应用的竞争已成为关乎互联网大厂和应用公司生死存亡的核心问题。随着AI技术的日臻成熟，许多基于AI底层数据的应用已经进入了渗透率指数级上升阶段；而还有很多革命性应用也正在或者即将初步市场化，未来增长空间广阔。通信设备行业或将持续维持高景气。","fund":{"_id":3000000020899,"__csrcFundId":13861,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-08T17:15:29.760Z","status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起(020899)","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"managers":[{"stockCode":"db20703478","stockType":"fund_manager","exchange":"fm","tickerId":2607227940,"name":"张戈"}]},"announcement":{"linkText":"天弘中证全指通信设备指数型发起式证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1252344","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3747fea5b3eb053d6d9","date":"2024-09-29T16:00:00.000Z","stockId":3000000020899,"sao":"2024年三季度，通信设备指数波动较大。7月、8月市场整体走势低迷，通信设备指数也未能延续上半年的强势。但9月底随着政策面大幅转暖，市场大涨，通信设备指数大幅反弹，产品净值也有明显上升。本基金按照基金合同约定采用完全复制的投资策略来控制跟踪误差，并力争在跟踪误差允许范围内获取更高收益。基金日均跟踪偏离和年化跟踪误差均控制在合理范围内。日均跟踪偏离和跟踪误差主要来自基金每日的申购赎回导致的基金仓位变化。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T14:04:36.927Z","fund":{"_id":3000000020899,"__csrcFundId":13861,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-08T17:15:29.760Z","status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起(020899)","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"managers":[{"stockCode":"db20703478","stockType":"fund_manager","exchange":"fm","tickerId":2607227940,"name":"张戈"}]},"announcement":{"linkText":"天弘中证全指通信设备指数型发起式证券投资基金2024年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1173106","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3747fea5b3eb053d6d8","date":"2024-06-29T16:00:00.000Z","stockId":3000000020899,"sao":"本基金在2024年4月成立后，按照基金合同约定采用完全复制的投资策略来控制跟踪误差，并力争在跟踪误差允许范围内获取更多收益。期间基金整体运行平稳，日均跟踪偏离和年化跟踪误差均控制在合理范围内。日均跟踪偏离和跟踪误差主要来自基金每日的申购赎回导致的基金仓位变化。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:04:36.923Z","mo":"通信设备指数基本面强，在科技赛道具有比较优势。受AI新技术催化，通信行业2023年年报和2024年一季报表观数据都较好。而通信设备指数作为算力产业链上游，基本面景气度又比通信全行业平均水平高。本指数包含的成分股多处于各细分领域上游，包含AI训练推理产业的上游光模块、互联网龙头企业上游供应商、以及海风产业里的海缆制造商等。这些公司作为硬件提供商，不受下游应用商业模式好坏与否的影响，订单稳定性和兑现度较高。展望三季度，上游通信设备公司有望保持景气高增速；同时股价不乏事件催化机会，如英伟达股价突破提升风险偏好，海风招标，卫星互联网有新进展，以及低空经济继续发酵等。","fund":{"_id":3000000020899,"__csrcFundId":13861,"stockCode":"020899","masterFundShortName":"天弘中证全指通信设备指数发起","fundSecondLevel":"company","stockType":"fund","areaCode":"cn","market":"a","tickerId":20899,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-08T17:15:29.760Z","status":"normal","exchange":"jj","shortName":"天弘中证全指通信设备指数发起(020899)","name":"天弘中证全指通信设备指数型发起式证券投资基金","fundCollectionId":4000050430000,"setUpAssetScale":5367270.69,"setUpDate":"2024-04-14T16:00:00.000Z","setUpShares":5367270.69,"inceptionDate":"2024-04-16T16:00:00.000Z","pinyin":"thzzqztxsbzsxfqszqtzjj","__indexSourceEastMoney":1,"__indexSourceCsi":1,"followedNum":3,"indexFundFlag":1,"indexId":1000000931160,"managers":[{"stockCode":"db20703478","stockType":"fund_manager","exchange":"fm","tickerId":2607227940,"name":"张戈"}]},"announcement":{"linkText":"天弘中证全指通信设备指数型发起式证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1145890","linkType":"PDF","source":"csrc_pdf"}}]}