2025年公募“冠军基金”收益逾230%， “翻倍基金”达76只，多家研报看好后市

Group 1 - The A-share market closed 2025 with an annual increase of over 18%, and public fund performance reached a new record [1] - Yongying Technology's Smart Selection A became the "champion fund" of 2025 with an annual return of 233.29%, breaking the 18-year record previously held by Wang Yawei [1] - A total of 76 funds achieved over 100% annual returns, with E Fund alone accounting for 10 of these funds [1] Group 2 - Multiple positive factors are expected to sustain a long-term upward trend in the Chinese capital market, including low A-share valuations and improving quality of listed companies [1] - Increased dividends and buybacks are enhancing investor returns, while patient capital continues to flow into the market [1] - The Shanghai Composite Index ended December 2025 with an "11 consecutive days of gains," driven by a recovery in risk appetite and increased ETF volumes [1] Group 3 - The strong performance of the Hong Kong stock market during the New Year period is expected to positively influence A-shares post-holiday [2] - The historical strong correlation between Hong Kong and A-shares reinforces expectations for a strong A-share market following the New Year [2]