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  摘要:在部分制造业领域,由于AI技术的引入,众多变化正在发生。

  从ChatGPT到今年的DeepSeek,全球科技产业也随之经历着深刻变革,AI插上翅膀后,机器人、智能驾驶、生物智能等领域日新月异。华安基金是业内最早深耕科技投资的基金公司之一,打造出一支具备产业+投研的复合型能力的精锐投研团队——华安基金科技联盟。

  凭借着对行业趋势的敏锐嗅觉,长期跟踪制造业的基金经理刘畅畅快速洞察到AI对产业生态的深刻影响。她表示,在部分制造业领域,由于AI技术的引入,众多变化正在发生。在未来一段时间,会持续加大对各类新技术、新材料、新工艺的布局。

  均衡成长,从制造拓展到消费、科技

  凭借对制造业的多年深入研究,刘畅畅逐步形成了均衡成长的投资风格,并将其贯彻到投资实践中,为投资者创造了可观回报。以她在管时间最长的华安文体健康A为例,近五年实现了125.62%的净值增长率,相较业绩比较基准的超额收益达119%。

  刘畅畅的投资风格可以概括为四个字——均衡成长,不押注单一领域或行业,持仓个股行业均衡,且前十大重仓股的集中度不高,既有耳熟能详的白马龙头股,也有中小市值股票。这种适度分散、均衡配置的策略,能避免单一行业的过度冲击,同时也能提升投资者的持有体验。

  刘畅畅早年研究员生涯曾深入跟踪机械、钢铁等周期性行业,因此在投资中也保留了周期思维;从行业所处周期、公司所处周期、市场预期三维框架分析个股投资价值,自下而上优选个股,尤其注重估值性价比,回避估值过高的公司。

  具体到能力圈上,刘畅畅15年投研经验主要深耕制造行业,曾担任华安基金制造组的组长,近年来从制造业逐步拓展至消费、科技等更广泛领域。

  高端制造+AI应用,寻找成长股预期差

  对于2025年的宏观大势,刘畅畅认为,随着宏观调控力度增强、经济结构进一步调整、市场自然出清,市场信心和经济环境都有望持续改善。

  具体到投资上,刘畅畅看好高端制造,特别是进口替代和产品、工艺升级方向,比如国内半导体研发、设计、生产制造能力持续提高,能不断在不同品类上填补短板。此外,一些新材料在逐步突破国外垄断,一些新的加工方式也开始替代传统的加工工艺获得市场份额,这些都会带来新的增长点。

  刘畅畅表示,当前AI技术正加速向多模态融合、具身智能和垂直领域深度渗透的方向突破。AI应用不仅渗透到生活中,也给制造业带来诸多变化。研发创新效率在AI的辅助下显著提高,一些新的工业应用场景因技术的升级而得以开拓。中国制造业有望在新技术的赋能下,逐步完成从成本领先,服务领先,到创新领先的跨越。

MACD金叉信号形成,这些股涨势不错!

  4月25日金融一线消息,中国平安公布2025年一季度‌业绩。数据显示,公司实现归属于母公司股东的营运利润379.07亿元,同比增长2.4%;其中,寿险及健康险业务归属于母公司股东的营运利润268.64亿元,同比增长5.0%;集团总资产首次突破13万亿元,达13.18万亿元。

  寿险及健康险业务新业务价值达成128.91亿元,同比增长34.9%,新业务价值率达成32.0%,同比增长10.4个百分点。其中,银保渠道新业务价值同比大幅增长170.8%,社区金融服务渠道新业务价值同比大幅增长171.3%。

  在综合金融领域,截至2025年3月31日,平安个人客户数近2.45亿,较年初增长1.0%,其中持有集团内4个及以上合同的客户留存率达98.0%。

  在保险资金投资业绩方面,2025年第一季度,平安保险资金投资组合实现非年化综合投资收益率1.3%,同比上升0.2个百分点。

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