Core Viewpoint - The public fund industry in China faces the persistent issue of "funds making money while investors do not," which hinders healthy development. To address this, the China Securities Regulatory Commission initiated a fee rate reform in July 2023, leading to the launch of innovative floating management fee models for fund products, marking a significant step towards high-quality development in the public fund sector [1]. Group 1: Fund Manager Profile - Yuan Hang, the proposed fund manager for Penghua Win-Win Future Mixed Fund, is recognized for his long-term investment success, having outperformed the market eight times over the past ten years [1]. - Yuan Hang has 15 years of experience in the securities industry and nearly 10 years in fund management, showcasing a long-term investment style that focuses on capturing medium to long-term development trends for better investor returns [2]. Group 2: Performance Metrics - Since Yuan Hang took over the Penghua Advanced Manufacturing Fund on November 4, 2014, it has achieved positive historical excess returns relative to the CSI 300 Index in 8 out of 10 years from 2015 to 2024, with a net value growth rate exceeding 200% and an annualized net value growth rate of nearly 11% as of June 17, 2025 [2]. - The Penghua Strategy Preferred Fund, managed by Yuan Hang since August 13, 2015, has realized a net value growth rate of 101.97%, while the CSI 300 Index recorded a return of -0.39% during the same period [2]. Group 3: Investment Style - Yuan Hang's investment style is characterized by balanced value growth, focusing on long-term holdings of quality assets, low turnover rates, and an emphasis on safety margins and shareholder returns [3]. - The portfolio of Penghua Advanced Manufacturing Fund shows a significant concentration in sectors such as consumer goods, finance, and manufacturing, with an increasing concentration of top holdings from approximately 47% in Q1 2018 to 79% in Q1 2025 [3]. Group 4: Future Outlook - Looking ahead, Yuan Hang believes there is still upward potential in the market, with opportunities outweighing risks, and he maintains a positive outlook for the stock market in 2025-2026 [4]. - The new Penghua Win-Win Future Mixed Fund will adopt a performance benchmark comprising 70% CSI 300 Index, 10% Hang Seng Index, and 20% Zhongzheng Comprehensive Bond Index, with Yuan Hang committed to continuing his investment philosophy and methods while sharing risks and benefits with investors [4].