单文2025年三季度表现，工银创新成长混合A基金季度涨幅36.4%

Core Insights - The best-performing fund managed by Dan Wen in the third quarter of 2025 is the ICBC Innovation Growth Mixed A, with a net value increase of 36.4% [1] Fund Performance Summary - ICBC Internet Plus Stock Fund: - Size: 27.59 billion - Annualized Return: -4.75% - Q3 2025 Increase: 32.91% - Top Holding: Ningde Times - Price-to-Net Asset Ratio: 8.03% [2] - ICBC Innovation Growth Mixed A: - Size: 24.53 billion - Annualized Return: -3.61% - Q3 2025 Increase: 36.40% - Top Holding: Tencent Holdings - Price-to-Net Asset Ratio: 6.78% [2] - ICBC Information Industry Mixed A: - Size: 9.92 billion - Annualized Return: 13.37% - Q3 2025 Increase: 33.23% - Top Holding: Luxshare Precision - Price-to-Net Asset Ratio: 7.52% [2] - ICBC Hong Kong Small Cap RMB: - Size: 2.63 billion - Annualized Return: 7.65% - Q3 2025 Increase: 23.37% - Top Holding: Pop Mart - Price-to-Net Asset Ratio: 8.88% [2] - ICBC Hong Kong Small Cap USD: - Size: 1.41 billion - Annualized Return: 6.72% - Q3 2025 Increase: 24.31% - Top Holding: Pop Mart - Price-to-Net Asset Ratio: 8.88% [2] - ICBC Innovation Growth Mixed C: - Size: 1.15 billion - Annualized Return: -4.38% - Q3 2025 Increase: 36.11% - Top Holding: Eagle Holdings - Price-to-Net Asset Ratio: 6.78% [2] - ICBC Information Industry Mixed C: - Size: 0.06 billion - Annualized Return: -4.35% - Q3 2025 Increase: 33.03% - Top Holding: Luxshare Precision - Price-to-Net Asset Ratio: 7.52% [2] Manager Performance - Dan Wen has achieved a cumulative return of 169.52% during his tenure managing the ICBC Information Industry Mixed A fund, with an average annualized return of 12.74% [2] - The fund had 98 adjustments in heavy holdings, with a success rate of 56.12%, and 7 instances of doubling returns with a doubling rate of 7.14% [2] Notable Stock Adjustments - Example of successful stock adjustments include: - Huace Testing: Bought in Q2 2018, sold in Q4 2020, with an estimated return of 394.95% and a company performance growth of 113.94% [3][5] - Yangguang Electric: Bought in Q3 2020, sold in Q1 2021, with an estimated return of 300.71% and a company performance growth of 25.15% [3][5] - Luxshare Precision: Bought in Q2 2019, sold in Q3 2020, with an estimated return of 293.48% and a company performance growth of 53.28% [3][5] Underperforming Stocks - Example of underperforming stock adjustments include: - Zijin Mining: Bought in Q2 2024, sold in Q3 2024, with an estimated return of -71.31% despite a company performance growth of 51.76% [6]