WINGTECH(SH:600745) Sou Hu Cai Jing·2025-10-14 07:15Group 1: Fund Company Developments - Fund companies are increasingly dissolving their supervisory boards, with Fangzheng Fubang Fund following Yingda Fund in this trend [1] - The supervisory board of Fangzheng Fubang Fund was dissolved after approval from the shareholders' meeting, and the audit committee of the board will assume its responsibilities [1] Group 2: Fund Manager Performance - The average return for public fund managers in the first three quarters is approximately 19.77%, with a median return of 14.97% [2] - A total of 169 fund managers achieved returns exceeding 60% during the same period [2] Group 3: Fund Manager Career Changes - On October 14, Luo Xin Pharmaceutical announced the resignation of its board secretary due to job relocation, with Jiang Ying, a former analyst and fund manager at Guotai Fund, appointed as the new secretary [3] Group 4: New Fund Launches - Notable fund managers, including Lan Xiaokang from China Europe Fund, are launching new funds, with Lan's new fund set to be issued on October 16 [4] - Lan Xiaokang currently manages assets worth 13.637 billion, with three products showing strong returns [4] - Jin Zicai from Caitong Fund is also launching a new fund, managing 4.318 billion with a maximum return of nearly 593% across six products [5] Group 5: ETF Market Overview - The market experienced fluctuations, with the Shanghai Composite Index down 0.62%, the Shenzhen Component down 2.54%, and the ChiNext Index down 3.99% [6] - The total trading volume in the Shanghai and Shenzhen markets reached 2.58 trillion, an increase of 221.5 billion from the previous trading day [6] Group 6: ETF Performance Highlights - The Shanghai 180 ETF Index led the gains with an increase of 3.02%, while sectors like insurance, gas, and coal performed well [7][8] - Conversely, the semiconductor sector faced significant declines, with related ETFs dropping by as much as 6.85% [9] Group 7: Industry Insights - The sales performance during the recent holidays met expectations, showing signs of marginal improvement despite a year-on-year decline [10] - Major liquor companies are outperforming the overall industry, and with easing policy pressures, demand is expected to show weak recovery [10] - The industry is currently at a low valuation, and the outlook is becoming clearer, with leading liquor companies increasing dividend payouts, enhancing their attractiveness for investment [10]