Amasheya amahle khulu ongawathenga nje isikhathi eside: Umhlahlandlela weqhinga elihlanganisiweko

Indaba yezakhiwo ezisetjenziswako

Iinkampani zesakhiwo esiyinhloko nezinsizakalo zakha isisekelo sanoma iyiphi iphothifoliyo yesikhathi eside eqinileko. Iinhlangano lezi zivamise ukuba namandla wokubeka intengo kanye nokugeleza kwemali okubikezelwako, okwenza bona zibe ziinsetjenziswa ezihle ngesikhathi sokungaqiniseki kwezomnotho. Lokha nakuhlaziywa amasheya amahle khulu ongawathenga njenganje ukubamba isikhathi eside, umuntu kufuze aqale ngale kwamaphesenti wesivuno alula ukuya epilweni yebhizinisi. Ikhamphani ezifana ne-CK Infrastructure Holdings (Ticker: 1038) kanye ne-China Shenhua Energy (Ticker: 1088) zinikela ngeenzuzo ezihlukileko malungana nalokhu. Imisebenzi yabo iqakathekile epilweni yangelanga, inikela ngesivikelo sokutjhuguluka kokusebenzisa imali ngokuzikhethela kwabathengi.

I-CK Infrastructure Holdings, ngokwesibonelo, isebenza eendaweni ezihlukahlukeneko, ukwehlisa ubungozi bemakethe eyodwa. Iinbikezelo zayo zentengo ezenziwe yi-AI zisikisela ukukhula okuzinzileko, okulinganiselweko, okutjengisa ubujamo bayo bokuzivikela. Ngokufanako, i-China Shenhua Energy izuza ekutjhugulukeni okuragela phambili kweemfuno zamandla wephasi loke, ukuhlanganisa amandla wamalahle wendabuko nokutjala imali okuvuselelekako. Amasheya la angeze aphindeka kabili emnyakeni, kodwana anikela ngezabelo ezingaguqukiko ezitlhogekako ekuhlanganiseni iinzuzo eminyakeni elitjhumi. Kubatjalimali abafuna ukunzinza kwephothifoliyo yamasheya, amagama la anikela ukuthembeka ngaphandle kokuguquguquka okukhulu kwethekhnoloji yokudlala.

Ukukhula kwethekhnoloji: Ama-semiconductors namapulatifomu wedijithali

Nanyana iinsetjenziswa zinikela ukuzinza, imikhakha yethekhnoloji ikhuthaza ukuthokoza okukhulu kwemali. Ukukhula kwamanje kwe-AI kwenze bona amakhamphani we-semiconductor kanye namaplatifomu wedijithali akhanye khulu. Imibiko itjengisa bona imali etholwa yi-Micron idlule ukulinganiselwa, okutjengisa ukufunwa okukhulu kwamatjhiphu wememori asetjenziswa emthangalasiseko we-AI. Lokhu kutjengisa okuhle kubanikeli be-hardware nesofthiwe abahlobeneko. Kubatjalimali besikhathi eside, ukukhetha amasheya wethekhnoloji kutlhoga ukutjheja amakhamphani anezikhundla eziqinileko zemakethe kanye namamodeli webhizinisi alinganisekako.

I-Hang Lung Properties (Ticker: 101) kanye ne-Hua Hong Semiconductor (Ticker: 1347) zijamele iingcenye ezihlukileko zokukhula lokhu. Nanyana i-Hang Lung ihlukaniswe ngaphasi kwendawo yokuhlala, indawo yayo yokuthengisa eendaweni eziphambili kanengi izuza ekwandeni komkhakha wethekhnoloji kanye nokufunwa kwamahhovisi. I-Hua Hong Semiconductor, nanyana kunjalo, mdlali oqondileko emjikelezweni wokwenza i-chip. Iimbikezelo ze-AI ze-Hua Hong zitjengisa ukuthuthuka okungenzeka okudoswa ziimfuno zama-chip wangekhaya kanye nokulungiswa kwethungelelwano lokuphakelwa kwephasi loke. Ukutjala imali emikhakheni le kutlhoga ukubekezela, ngombana inani lingaba phezulu, kodwana indlela yesikhathi eside yesakhiwo sedijithali ihlala iqinile.

Ukuhlaziya Idatha yePlatfomu yokwakha iPhothifoliyo

Amamodeli we-AI weplatifomu yethu anikela ukuzwisisa okuthileko ngokuthi imikhakha le isebenzisana njani. Ngokuhlola ama-tickers wamambala, singabona amaphetheni ukuhlaziywa okusisekelo okujayelekileko okungenzeka kuphuthelwe. Idatha iveza ukuhlobana hlangana nababhadeli bezabelo ezijameleko kanye nendawo yokuhlala eseduze nethekhnoloji, okunikela ukuvikeleka ekuguquguqukeni kwethekhnoloji. Ukwenza isibonelo, i-CK Asset Holdings (Ticker: 1113) ihlanganisa ukunzinza kwepahla yokuhlala nokukhula kokuqatjhwa kwezokuthengisa, ukuvala isikhala hlangana namaqhinga wokuzivikela nokukhula. Ubujamo obuhlanganisiweko buyenza bona ibe yinto ephoqako yamaphothifoliyo ahlukahlukeneko.

Itjhejo lezamaphilo libuye linikele ithuba elihlukileko lokutjala imali ngokuhlangeneko. Ikhamphani ezifana ne-Sinopharm Group (Ticker: 1099) kanye ne-CSPC Pharmaceutical (Ticker: 1093) zinikela ngokukhula ngokusebenzisa ukusungula nokuzinza ngokufunwa kweenkonzo eziqakathekileko. Ukuguga kwabantu ephasini loke kusekela ukukhula kwemali yesikhathi eside emkhakheni lo. Ngokungafani nethekhnoloji ehlanzekileko, ukufunwa kwezamaphilo akukabi mjikelezo, okunikela ngekhefu yemiholo ebuthakathaka. Lokha nayihlanganiswa nokuphathwa kwethekhnoloji, amasheya wezamaphilo angehlisa i-beta yephothifoliyo yoke ngesikhathi agcina amaphrofayili wokubuyisela amahle.

Ukuzinza kwezeeMali kanye neenTjhorensi ezinkulu

Amasheya wezeemali avamise ukusebenza njengesimeleli sepilo yezomnotho. Amabhanga neenkhampani zomtjhorensi ziyazuza emazingeni wenzalo aphezulu, okuyinto eqakathekileko ekuhlaziyweni kwemakethe kwamuva. I-Agricultural Bank of China (Ticker: 1288) kanye ne-ICBC (Ticker: 1398) ziimbonelo eziphambili zeenkhungo ezinamabhalansi aqinileko kanye nomlando ongaguqukiko wezabelo. Iinkampani ezinkulu zezezimali zinikela ngokuthengiswa nokuzinza okutlhogekako emaphothifoliyoni amakhulu. Iinbikezelo zabo zisikisela ukukhiqizwa kwemali okungaguqukiko, okwenza bona zilungele abatjalimali abaqakathekisa ukugeleza kwemali.

Ikhamphani zomtjhorensi ezifana ne-AIA Group (Ticker: 1299) kanye ne-New China Life Insurance (Ticker: 1336) zinikela ngokuhlukahluka okungezelelweko. Bazuza ekukhuphukeni kwamazinga wenzalo emaphothifoliyo wabo wokutjala imali ngesikhathi banikela ngemikhiqizo yokuvikela yesikhathi eside. Ukusebenzisana hlangana namabhanga nomtjhorensi kwenza ukwabiwa okuqinileko komkhakha wezeemali. Kilabo abakha iphothifoliyo yamasheya wengeniso engasebenziko, amagama la anikela ngeenkokhelo ezithembekileko ezingafakwa godu ukubuyisela iinzuzo. Okuqakathekileko kukubalekela ukutjheja khulu ebhanga elilodwa nofana umtjhorensi, ukusabalalisa ubungozi emkhakheni wezeemali ngokubanzi.

Ukujamelana kwabathengi namabubulo

Amasheya athengiswa ngokuzikhethela kwabathengi avamise ukuthathwa njengabanobungozi, kodwana abanye abadlali batjengisa ukujamelana okuphawulekako. I-Hengan Group (Ticker: 1044) kanye ne-Xtep (Ticker: 1368) zitjengisa bona amabhrendi wabathengi angagcina njani ukukhula ngokuthembeka kwebhrendi nokusebenza kuhle. Amakhamphani la azuza emikhubeni yokusetjenziswa kwangaphakathi begodu asungule iindawo eziqinileko zemakethe. Ukufakwa kwabo ephothifoliyo kwenezela isendlalelo sokuvezwa kwezomnotho wangekhaya okuhambisana nokudlala kwethekhnoloji yephasi loke kanye nesakhiwo sesakhiwo.

Amasheya webubulo afana ne-China Southern Airlines (Ticker: 1055) kanye ne-Yankuang Energy Group (Ticker: 1171) anikela ngamathuba wokukhula ngokujikeleza. Njengoba iimfuno zokuhamba namandla zizinzile, imikhakha le inganikela ngenzuzo ekulu. Ukutjheja okubili kwe-Yankuang emalahleni namandla avuselelekako kuhambisana nemikhuba yokusimama kwephasi loke, kunikela umbono olinganiselweko wokutjhuguluka kwamandla. Iinsetjenziswa lezi kufanele zilinganiswe ngokutjheja, ngombana zizwela khulu imijikelezo yezomnotho ukudlula iinsetjenziswa, kodwana amandla wazo wokukhula makhulu ngesikhathi sezigaba zokuvuselela.

Ukusebenzisa iqhinga lokuhlanganisa

Ukwakha iphothifoliyo le kutlhoga ukuziphatha. Thoma ngokunikela i-40% emikhakheni yokuzivikela njengeensetjenziswa nezamaphilo, utjheje amakhamphani anomlando oqinileko wezabelo njenge-CK Infrastructure kanye ne-Sinopharm Group. Yabela enye i-30% kumathekhnoloji akhulako kanye nama-semi-conductor afana ne-Hua Hong Semiconductor, usebenzise umjikelezo wokufunwa okuqhutshwa yi-AI. I-30% eseleko kufanele iye kwezezimali nezinto eziqakathekileko zabathengi, ukunikela ngemali engenako nokuvezwa kwangaphakathi ngamagama afana ne-ICBC ne-Hengan Group.

Ukulinganisa kabutjha qobe ngekota ukugcina iinsimbi lezi. Sebenzisa ukubikezela okwenziwa yi-AI ingasi njengevangeli, kodwana njengethuluzi lokukhomba amandla ahlobene ngaphakathi kwemikhakha. Ukwenza isibonelo, nangabe ukubikezela kwe-Hua Hong kutjengisa umfutho, cabanga ngokuyibeka khulu kancani malungana neensetjenziswa ezikhamba kabuthaka. Indlela eguquguqukako le iqinisekisa bona iphothifoliyo yakho iyavumelana nobujamo bemakethe ngesikhathi ihlala ithembekile kufilosofi yokuhlanganiswa. Khumbula, umnqopho kukubuthelela umnotho wesikhathi eside, ingasi ukuzuza kwesikhathi esifitjhani.

Kuqakathekile ukutjheja bona ukubikezela lokhu kwenziwa yi-AI begodu kungatjhuguluka ngokuya ngedatha yemakethe yesikhathi sangempela. Akusiyo imiphumela eqinisekisiweko kodwana kunalokho ukubikezela okungenzeka okusekelwe emaphetheni womlando kanye nezinto ezisisekelo zamanje. Hlala wenza ukuzikhandla kwakho begodu ucabange ngesimo sakho sezezimali ngaphambi kokwenza iinqunto zokutjala imali.

Imibuzo ebuzwa kanengi

Ngiziphi iintoko ezihle khulu ongazithenga njenganje ukubamba isikhathi eside?

Iintoko ezihle khulu zithembele ekubekezeleleni kwakho ubungozi, kodwana umhlanganiso wabakhokhi abahlukahlukeneko abafana ne-CK Amafemu wethekhnoloji yokukhula kwesakhiwo esifana ne-Hua Hong Semiconductor anikela ngendlela elinganiselako. Inhlanganisela le inikela ukuzinza kwengeniso kanye nokuthokoza kwemali.

Ukubikezela kwesitoko se-AI kusiza njani ekutjalweni kwemali kwesikhathi eside?

Ukubikezela kwe-AI kuhlaziya inani elikhulu ledatha ukukhomba amathrendi wamandla womkhakha kanye nezisekelo zenkampani. Zirhelebha abatjalimali bona babone ubungozi obungaba phezulu nofana obuphasi msinyana, okwenza bona kube neenqunto zokwaba ezinolwazi ngaphakathi kwephothifoliyo ehlukileko.

Ingabe amasheya wesabelo angcono kunamasheya wokukhula malungana nokubuyiselwa kwesikhathi eside?

Akukho nanye engcono ngokwemvelo; zisebenza ngeenhloso ezihlukileko. Ama-stock we-dividend anikela ngengeniso engaguqukiko nokutjhuguluka okuphasi, lokha ama-stock akhulako anikela ngokuthokoza okuphezulu kwemali. Iqhinga elihlangeneko lisebenzisa amandla wabo bobabili ukuthuthukisa imijikelezo yemakethe.

Ngimiphi imikhakha eqinileko khulu eendaweni ezikhuphukako zezinga lenzalo?

Iinsetjenziswa zezezimali neensetjenziswa zivamise ukusebenza kuhle eendaweni ezikhuphukako. Amabhanga azuza emazingeni amanengi wenzalo, lokha iinsetjenziswa zinikela ngezabelo ezizinzileko ezidosa abatjalimali abadzimelele emalini engenako abafuna ukuphepha hlangana nokutjhuguluka kwemakethe.

Kufanele ngilinganise kangangani iphothifoliyo yamasheya ahlanganisiweko?

Ukulinganisa kabutjha kwekota kuvamise ukwanela abatjalimali abanengi besikhathi eside. Imvamisa le ikuvumela bona ulungise ubudisi ngokuya ngokusebenza komkhakha kanye nokuzwisisa okuqhutshwa yi-AI ngaphandle kokubiza iindleko zokurhweba ezinengi khulu nofana ukubhadela umthelo.