Special Topic: Beijing Public Fund High-Quality Development Series - New Era, New Funds, New Value
Recently, under the guidance of the Beijing Securities Regulatory Bureau, the Beijing Securities Industry Association partnered with local public fund institutions to launch the "Beijing Public Fund High-Quality Development Series." This professional initiative, themed "New Era, New Funds, New Value," is advancing investor education and protection efforts to new depths. As a member of the capital's public fund industry, China Post Fund has actively responded to the call, with its equity investment team recently focusing on investment opportunities in high-end manufacturing and domestic substitution sectors, believing these areas are nurturing a group of future "new blue chip" companies in the capital markets.
Unlike traditional blue chip stocks, the "new blue chips" identified by China Post Fund's equity team possess distinct characteristics of the times. Most of these companies emerged against the backdrop of China's economic transformation, establishing strong competitive moats in segments such as high-end manufacturing and core technology domestic substitution through technological breakthroughs, product innovation, and market expansion. They represent new directions in China's economic development and, while their current scale may not match traditional blue chips, they possess tremendous potential to become industry leaders.
In the domestic substitution investment theme with high certainty, China Post Fund's equity team has observed encouraging progress. Since the beginning of this year, policy support for domestication has continued to strengthen. Taking government procurement as an example, recent policies clearly stipulate providing domestic products with a 20% price evaluation preference in government procurement activities, which will significantly increase the proportion of domestic products in government purchases. Based on actual data, in the information technology innovation industry, procurement by party and government agencies has driven significant improvement in domestic operating system market share; in the medical equipment sector, the proportion of domestic CT equipment procurement by tertiary hospitals has exceeded imported brands for the first time; and the domestication rate in industrial software has also shown steady upward trends. These changes indicate that domestic substitution is transitioning from policy-driven to market-conscious, showing positive momentum for accelerated development.
The semiconductor sector, as a core area of high-end manufacturing, has become the main battlefield for domestic substitution. China Post Fund's equity team analysis points out that changes in the international environment in recent years have actually strengthened domestic semiconductor industry chain autonomy and controllability determination. Currently, domestic wafer fabs are actively promoting semiconductor equipment domestic substitution and have achieved breakthroughs in multiple key process segments. With the successive implementation of new production lines, demand for domestic semiconductor equipment and component segments is expected to continue growing.
Facing these investment opportunities, China Post Fund's equity team has established a systematic investment framework. The team not only focuses on companies' current performance but also emphasizes their technological barriers, R&D investment ratios, and management teams' strategic vision. In actual investments, the team closely follows two main themes: "breakthrough in core segments" and "full industry chain collaboration," conducting in-depth research on companies' irreplaceability in the industry chain and determining whether their products truly address domestic substitution pain points.
Looking ahead, China Post Fund's equity team believes the investment prospects in high-end manufacturing and domestic substitution sectors are broad. Domestic substitution is not a short-term theme but a long-term trend that will foster a group of Chinese companies with core competitiveness.
However, investors also need to recognize that investments in high-end manufacturing and domestic substitution sectors come with risks. Factors such as rapid technological iteration, uncertain R&D investment returns, and intensified market competition may all affect companies' profitability. In capital markets, valuations of related companies experience significant volatility, requiring investors to possess strong risk tolerance.
As domestic products' market share continues to increase across various sectors, a group of Chinese high-end manufacturing companies with core technologies, strong market competitiveness, and sustained innovation capabilities are emerging. While their current scale may not be large, they could become pillars of the capital markets tomorrow. As Beijing's public fund industry continues to develop, professional investment institutions like China Post Fund are identifying these future "new blue chips" through in-depth industry research, both supporting high-quality development of China's manufacturing industry and providing professional platforms for investors to share in industrial upgrade dividends.
Risk Warning: Markets involve risks, and investment requires caution. This material is for educational purposes only. The views contained herein are for reference only and do not constitute any investment advice or commitment. Before investing, investors should carefully read legal documents such as fund contracts, prospectuses, and product profiles to understand the risk-return characteristics of funds and prudently select fund products suitable for their risk tolerance, investment horizon, and investment objectives.
