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用好现有政策空间。若未来遭遇超预期的外部冲击，不排除适时出台增量政策措施加以应对。","fund":{"_id":3000000021812,"__csrcFundId":14302,"stockCode":"021812","masterFundShortName":"东兴宸泰量化选股混合发起","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":21812,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"东兴宸泰量化选股混合发起(021812)","lastUpdated":"2026-05-01T03:20:16.688Z","name":"东兴宸泰量化选股混合型发起式证券投资基金","pinyin":"dxctlhxghhxfqszqtzjj","fundCollectionId":4000051940000,"setUpAssetScale":65136974.04,"setUpDate":"2024-09-25T16:00:00.000Z","setUpShares":65136974.04,"inceptionDate":"2024-09-26T16:00:00.000Z","followedNum":4,"managers":[{"stockCode":"8801410072","stockType":"fund_manager","exchange":"fm","tickerId":120223164650,"name":"李兵伟"}]},"announcement":{"linkText":"东兴宸泰量化选股混合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=1340911","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3a97fea5b3eb0540314","date":"2025-03-30T16:00:00.000Z","stockId":3000000021812,"sao":"2025年一季度权益市场延续回暖走势，呈现结构性行情。国内AI、文化传媒等多个领域实现突破式发展，投资者对中国科技板块的信心回升，带动科技股走强，成为市场重要主线。宽基指数表现不一，成长风格跑赢权重板块，市场风险偏好在春节后有明显回升。结构性市场较为考验量化的选股能力，我们的策略经过反复迭代优化，在一季度呈现了较好的选股结果,超额收益保持稳定。东兴宸泰的投资策略侧重于组合的构建而非择时，底层的选股逻辑主要基于基本面多因子模型，采用分散化投资理念，重点关注兼具估值和成长性的公司。通过模型筛选，重点选择成长性好，盈利能力强的公司，结合估值预期形成投资组合。2025年一季度量化选股模型有效地抓住了结构性机会，净值相对基准指数取得了一定的超额收益。同时，组合构建过程中的风险控制模块发挥了极大的作用，将我们的回撤控制在一个较低的水平。","declarationDate":"2025-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:29.428Z","fund":{"_id":3000000021812,"__csrcFundId":14302,"stockCode":"021812","masterFundShortName":"东兴宸泰量化选股混合发起","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":21812,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"东兴宸泰量化选股混合发起(021812)","lastUpdated":"2026-05-01T03:20:16.688Z","name":"东兴宸泰量化选股混合型发起式证券投资基金","pinyin":"dxctlhxghhxfqszqtzjj","fundCollectionId":4000051940000,"setUpAssetScale":65136974.04,"setUpDate":"2024-09-25T16:00:00.000Z","setUpShares":65136974.04,"inceptionDate":"2024-09-26T16:00:00.000Z","followedNum":4,"managers":[{"stockCode":"8801410072","stockType":"fund_manager","exchange":"fm","tickerId":120223164650,"name":"李兵伟"}]},"announcement":{"linkText":"东兴宸泰量化选股混合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=1269761","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3a97fea5b3eb0540313","date":"2024-12-30T16:00:00.000Z","stockId":3000000021812,"sao":"2024年权益市场波动加大，指数经历二次探底后在三季度末迎来反转行情，全年主要宽基指数均录得双位数涨幅。但整体来看，指数的上涨主要集中在9月下旬的几个交易日，且全年获得正收益的个股占比并未过半，市场赚钱机会并不突出。这种市场环境确实对量化交易带来了较大的挑战，我们在策略上也进行了进一步的迭代优化，保证超额收益的整体稳定。东兴宸泰成立于2024年9月，成立后积极建仓，四季度取得了一定的超额。东兴宸泰的投资策略侧重于组合的构建而非择时，围绕经济转型方向，重点布局代表新质生产力的板块，底层的选股逻辑为主要基于基本面多因子模型。未来，随着市场风险偏好的修复及稳定，预计业绩将重新成为市场驱动的主要因素，届时我们基本面量化模型优势将明显凸显。","declarationDate":"2025-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:29.426Z","mo":"展望2025年，我们认为权益市场的机会将多于2024年。总结看，市场有利的条件有以下几个：首先，去年9月份政策出现比较大的积极变化，在部署2025年经济工作时，把提升包括消费物价和资产价格的广义通胀水平放到了更高的位置。过去几年，物价指数偏低，居民消费意愿不足。因此这次政策着力于斩断价格下跌的循环，无论是房地产的止跌企稳还是资本市场的平稳发展，都具有积极的意义。2025年，实现价格指数的正向恢复趋势是较为确定的，这就能为市场运行提供一个比较好的环境；其次是中观产业的机会，过去几年市场机会不多的另外一个原因是2021年一些行业的估值过于透支，而市场又缺乏新的增量产业，因此没有比较好的主线投资机会。但目前来看，我们看到一方面过去比较贵的行业，现在估值都到了历史比较低的水平，即使考虑到业绩增速的中枢回落，配置价值也是比较好的。另一方面，随着新一轮AI产业浪潮的来临，国内在大模型、半导体、人形机器人、AI应用等多个领域都实现了比较好的突破，紧跟国际先进的技术水平，这会给市场带来很多明确的投资机会；最后，对于资本市场自身而言，随着各项改革措施的落地，A股市场更加注重股东回报，投融资将更加均衡，这对于恢复投资者信心，助力市场长期平稳发展是有重要意义的，能够吸引更多的资金进入到市场中。2025年市场主要的不确定性来自外围，但考虑到国内政策已经做了较为充足的应对准备，因此外围的变化对市场的影响预计将会可控。","fund":{"_id":3000000021812,"__csrcFundId":14302,"stockCode":"021812","masterFundShortName":"东兴宸泰量化选股混合发起","fundSecondLevel":"hybrid","stockType":"fund","areaCode":"cn","market":"a","tickerId":21812,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"东兴宸泰量化选股混合发起(021812)","lastUpdated":"2026-05-01T03:20:16.688Z","name":"东兴宸泰量化选股混合型发起式证券投资基金","pinyin":"dxctlhxghhxfqszqtzjj","fundCollectionId":4000051940000,"setUpAssetScale":65136974.04,"setUpDate":"2024-09-25T16:00:00.000Z","setUpShares":65136974.04,"inceptionDate":"2024-09-26T16:00:00.000Z","followedNum":4,"managers":[{"stockCode":"8801410072","stockType":"fund_manager","exchange":"fm","tickerId":120223164650,"name":"李兵伟"}]},"announcement":{"linkText":"东兴宸泰量化选股混合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=1246404","linkType":"PDF","source":"csrc_pdf"}}]}