404 Not Foundnginx/1.22.0 Financial World Fund September 2nd News Guotou UBS Advanced Manufacturing Mixed Securities Investment Fund (abbreviated as: Guotou UBS Advanced Manufacturing Mixed, code 006736) fell by 3.23% on August 31, attracting investors' attention. The current net

2025/07/0719:37:36 hotcomm 1637
404 Not Foundnginx/1.22.0 Financial World Fund September 2nd News Guotou UBS Advanced Manufacturing Mixed Securities Investment Fund (abbreviated as: Guotou UBS Advanced Manufacturing Mixed, code 006736) fell by 3.23% on August 31, attracting investors' attention. The current net - DayDayNews

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nginx/1.22.0

Financial World Fund September 2nd News Guotou UBS Advanced Manufacturing Mixed Securities Investment Fund (abbreviated as: Guotou UBS Advanced Manufacturing Mixed, code 006736) fell by 3.23% on August 31, attracting investors' attention. The current net value of the fund unit is 4.0423 yuan, and the cumulative net value is 4.0423 yuan.

Guotou UBS Advanced Manufacturing Mixed Fund has earned 304.23% since its establishment, with a return of -8.70% since the beginning of this year, a return of -4.17% in the past month, a return of -23.60% in the past year, and a return of 281.82% in the past three years.

This fund has distributed dividends 0 times since its establishment, with a cumulative dividend amount of RMB 100 million. The fund is currently open for subscription. The fund manager of

is Shi Cheng, who has managed the fund since March 29, 2019, and has earned 294.79% during his term of office. The latest fund regular report of

shows that the fund has a heavy holding in Tianqi Lithium (holding ratio 9.67%), Yongxing Materials (holding ratio 8.51%), Jiangte Electric (holding ratio 8.42%), Rongjie Shares (holding ratio 7.93%), Huayou Cobalt (holding ratio 6.15%), Keda Manufacturing (holding ratio 5.74%), China Mining Resources (holding ratio 5.13%), Tibet Mining (holding ratio 5.01%), Shengxin Lithium Energy (holding ratio 4.87%), and Zangge Mining (holding ratio 4.81%).

Fund investment strategy and operation analysis during the reporting period

investment summary for the first half of the year, we are optimistic about the increase in demand and supply of the growth industries represented by domestic new energy, which are mostly provided by overseas. If it is in a growing industry, its logic is likely to continue to strengthen due to the rapid growth of demand itself.

The profits within emerging industries continue to shift to the upstream, and the profits in other links of the middle and lower reaches are being compressed. This state will continue in the second half of the year. Due to the bottleneck of resource products, it will not be alleviated until the end of 2023 at the earliest. Therefore, as long as the demand improves, the upstream must divide profits. This is an objective law and will not be transferred by human will.

Starting from late April, sub-industry and companies in the middle and lower reaches experienced significant increases, and their gains exceeded those in the upstream in June. We believe that the order of conduction and Merrill Lynch clock can explain this phenomenon. From the perspective of Merrill Lynch clock, the economic cycle has gone from recession-recovery-overheating-stagflation, the manufacturing industry is better in the recovery stage, and the resource products have greater advantages in the overheating stage; from the perspective of industry transmission, downstream orders have risen - midstream production volume increases - upstream resources are short. As long as the supply of upstream resource products is limited and the downstream demand is strong, it is only a matter of time before the interpretation is performed, that is, the final industry rotation will return to the upstream. Currently, we have experienced a sharp rise in the stock prices of new energy midstream and downstream, and we believe that from liquidity to industry fundamentals, all of them support the upstream to usher in the market.

In terms of specific industries, in terms of equipment manufacturing, investment is still concentrated in industries such as photovoltaics, lithium batteries, and semiconductors that have rapid growth momentum. At present, the market is more enthusiastic about equipment improvements and capital expenditures in new technology directions, which is the direction we will focus on in the future. In terms of new energy vehicles, we are still optimistic about the rapid growth of electric vehicle sales. At present, people who doubt demand have gradually decreased, but there is still controversy over the further rise in the supply-side resource prices. We believe that due to the country's stimulation of automobile consumption, first- and second-tier cities have introduced a lot of land replenishment to promote it. The scale of land replenishment in these cities has significantly alleviated the pressure brought by the price increase of upstream resources, allowing Chinese automakers to purchase more lithium carbonate globally (this will further promote the upward trend of lithium prices). Therefore, we believe that a new round of price increases in the third quarter is a high probability event.

New energy power generation industry, the current industry growth is still subject to the release of silicon material production capacity. We still expect that the supply and demand contradiction of silicon materials will gradually ease in the third and fourth quarters. Under the current circumstances, we have observed that there are problems with the realization of profitability in some links of the industrial chain, so we do not tend to increase profits in the manufacturing sector after the price of silicon materials is reduced. We still judge that the biggest beneficiary of new energy power generation may be the energy storage industry, and will make arrangements at the appropriate time.

TMT industry is optimistic about smart cars. In the second half of the year, we expect that the electric vehicle industry will still be restricted by lithium resources. On the one hand, there is a ceiling for the increase in volume, and on the other hand, there will be pressure on profits.However, from the perspective of technological progress, due to the advancement of DMI and extended-range products, they have fully benefited from high oil prices and high lithium prices, and a large-scale market also appeared in the second quarter of this year. Therefore, in the future, we will pay more attention to product innovation in the automotive industry. And since there are currently no companies like Apple that leave huge profits for suppliers in the field of new energy vehicles, we believe that the whole vehicle link is better than the parts.

The second quarter is the beginning of the market. Our current performance can only be described as regular. We look forward to the arrival of the third quarter and also look forward to good results in the third quarter.

The performance of the fund during the reporting period

As of the end of this reporting period, the net value of this fund's shares was 4.4818 yuan, the growth rate of the fund's shares was 1.22%, and the benchmark yield for the same period was -5.63%.

managers brief outlook on the macro economy, securities market and industry trends

In the second quarter of 2022, we can see that the domestic market is gradually emerging from the influence of Omickron, demand began to recover in June, and it is expected that the economy will enter an accelerated upward stage in the third quarter, especially the growth industry will grow very rapidly, so we judge that the domestic supply and demand are both strong. Overseas, especially in Europe, are trapped in the quagmire of the Russian-Ukrainian war and are difficult to get out of it for the foreseeable future. The new variant of the new coronavirus has begun a new round of spread overseas, which will also have an impact on their economy, so we expect both supply and demand overseas to weaken. Both domestic supply and demand are strong, while both overseas supply and demand are weak. Our basic ideas for the whole second half of the year are unfolding.

In the last quarter, we mentioned that traditional energy may not have a large supply of large amounts in the future, so the ceiling of global economic growth is bound by the total energy supply. Considering that the domestic economy suffered a phased impact in the second quarter, and there is a possibility of recession overseas in the second half of the year, from the perspective of the total annual volume, the degree of energy constraints has been relaxed within a certain period of time. Against the backdrop of China's introduction of economic stimulus policies, we believe that domestic economic growth will accelerate in the second half of the year. Therefore, we are mainly optimistic about industries with a large proportion of domestic demand.

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