Core Insights - The article highlights the resilience and positive trajectory of the Chinese economy in 2025, emphasizing the ongoing reforms in the capital market and the public fund industry transitioning from a focus on scale to one on returns [2][15] - It marks the 24th anniversary of Great Wall Fund, reflecting on its commitment to customer-centric and professional service [2][15] Investment Research - The company has strengthened its investment research capabilities, focusing on integrated, platform-based, and systematic research to maintain its core advantages in fixed income, technology, and growth investments [5][19] - In response to increased volatility in the bond market, the company has expanded its research scope and established collaborative research teams covering five core areas: interest rate, credit, convertible bonds, overseas markets, and product research [6][20] - The company aims to capture diverse investment opportunities in technology sectors such as new energy, new materials, semiconductors, biotechnology, artificial intelligence, defense, and healthcare [6][20] Product Development - The company continues to adhere to long-term, value-driven, and responsible investment principles, expanding its product matrix to meet diverse investor needs, including the launch of its first ETF [8][22] - As of September 30, 2025, the company has distributed over 55.5 billion yuan in dividends and served over 83.82 million clients, with fixed income funds ranking in the top 20% of the industry for one, two, and three-year returns [9][23] Investor Education and Social Responsibility - The company is committed to financial inclusivity, creating a diverse educational ecosystem to connect investors with the capital market through various online and offline initiatives [11][25] - It has launched programs to enhance financial literacy and social responsibility, including the "Great Wall Fund - Happy Music Classroom" project in Shaanxi, promoting cultural and educational initiatives [11][25]

Core Insights - The new materials industry is a crucial support for advancing new industrialization in China, with China National Building Material Group (CNBM) focusing on the integration of technological and industrial innovation to contribute to the construction of a strong materials and manufacturing nation [1][3] Investment and Fund Performance - CNBM's New Materials Fund has a total scale of 20 billion yuan, with an initial scale of 15 billion yuan, focusing on investments in inorganic non-metallic materials, organic polymer materials, composite materials, special metals, and other new materials [1] - As of now, the New Materials Fund has completed investments in 48 projects, with a total delivery scale of 12.14 billion yuan, indicating stable operational performance in the new materials sector [1] Semiconductor Materials Focus - The New Materials Fund is paying close attention to the semiconductor materials sector, including large silicon wafers, photoresists, electronic specialty gases, target materials, wet electronic chemicals, storage devices, and third-generation semiconductors, forming a comprehensive semiconductor materials industry cluster [2] Central-Local Cooperation - CNBM is building a second growth curve centered on the new materials industry, focusing on cultivating industries with scales of 1 billion, 5 billion, and 10 billion yuan, aiming for a revenue of 100 billion yuan and a profit of 10 billion yuan in the new industry group [3] - The cooperation between CNBM and local governments, such as Jiangsu and Anhui provinces, is injecting capital into the new materials industry, promoting high-quality development [4] Technological and Investment Synergy - CNBM emphasizes the integration of technology and investment in driving the development of the new materials industry, highlighting the need for investment to catalyze technological innovation across various stages of development [6][7] - The company aims to leverage its investment strategies to discover new growth points and enhance existing business strengths through its funds [6] AI and New Materials - The integration of artificial intelligence (AI) with new materials is seen as a transformative force, with AI reshaping productivity and driving advancements in various sectors, including integrated circuits, which are foundational to AI capabilities [7]