根据《中国证监会关于证券投资基金估值业务的指导意见》(中国证券监督管理委员会公告[2017]13号) 等有关规定，经与基金托管人协商一致，自2025年9月3日起，上海国泰海通证券资产管理有限公司对旗 下证券投资基金所持有的"芯原股份（代码:688521）"采用"指数收益法"予以估值。 待上述股票复牌且其交易体现了活跃市场交易特征后,将恢复采用当日收盘价格进行估值，届时将不再 另行公告。 特此公告。 上海国泰海通证券资产管理有限公司 2025年9月5日 ...

公告送出日期：2025年9月5日 1 公告基本信息 ■ 注：根据《基金合同》约定，基金收益分配后基金份额净值不能低于面值；即基金收益分配基准日的基 金份额净值减去每单位基金份额收益分配金额后不能低于面值。 2 与分红相关的其他信息 ■ 3 其他需要说明的事项 （1）权益登记日申请申购、转换转入、定期定额投资的基金份额不享有本次分红权益，权益登记日申 请赎回、转换转出的基金份额享有本次分红权益。 （2）本基金收益分配方式分为现金分红与红利再投资。对于未选择具体分红方式的投资者，本基金默 认的分红方式为现金分红。 （3）投资者可以到销售网点修改分红方式。本次分红确认的方式将按照投资者在权益登记日之前（不 含2025年9月8日）最后一次选择的分红方式为准。投资者可通过上银基金管理有限公司客户服务中心或 本公司官网查询确认分红方式是否正确。如希望修改分红方式，请务必在2025年9月5日当日交易时间结 束前到销售网点办理设置分红方式业务。具体销售机构名单请详见本基金基金份额发售公告及本公司发 布的相关公告。 （4）本次分红不会改变本基金的风险收益特征，也不会降低本基金的投资风险或提高本基金的投资收 益。 （5）因分红导 ...

根据《中国证监会关于证券投资基金估值业务的指导意见》（中国证券监督管理委员会公告〔2017〕13 号）和中国证券投资基金业协会《关于发布中基协（AMAC）基金行业股票估值指数的通知》（中基协 发〔2013〕13号）的相关规定，经与托管人协商一致，本公司决定自2025年9月3日起对本公司旗下参照 公募基金运作的大集合资产管理计划所持有的"芯原股份"(证券代码: 688521)采用"指数收益法"进行估 值。 待上述股票复牌且交易体现活跃市场交易特征后，将恢复为采用当日收盘价格进行估值，届时不再另行 公告，敬请投资者关注。 特此公告。 中国国际金融股份有限公司 2025年9月4日 ...

Group 1 - Multiple public fund managers, including Caitong Fund, Robeco, and E Fund, have adjusted the valuations of stocks held in their portfolios due to significant discrepancies between stock prices and their intrinsic values [1][2] - The adjustments aim to ensure the fairness and accuracy of fund net values, protecting investors from misleading information caused by market price distortions [1][2] - For instance, the star pharmaceutical stock Nohow Health has seen its valuation adjusted by over ten public fund managers since July, with significant differences in the adjusted prices among them [2][3] Group 2 - Different public fund managers may employ various valuation techniques, leading to discrepancies in the final valuation results even for the same stock [3] - Fund managers play a crucial role in selecting investment targets, typically starting with promising industry directions and then choosing quality stocks based on comprehensive analysis [3] - The investment strategies of different fund managers often vary, with some focusing more on macro and industry analysis while others emphasize the fundamental quality of the companies [3]

Core Viewpoint - The stock price of Tianmao Group has been drastically reduced by over 90% by Huatai Fund, from 2.74 yuan per share to 0.27 yuan per share, due to significant changes in the company's fundamentals and regulatory issues [1]. Group 1: Company Overview - Tianmao Group has been suspended from trading for nearly two months since May 6, 2023, due to the inability to disclose its annual report by the legal deadline [2]. - The company faces a risk of delisting if it fails to disclose more than half of the board's assurance of the annual report's authenticity within two months of the delisting risk warning [2][3]. - The actual controller of Tianmao Group is Liu Yiqian, a well-known art collector and investor, who has a significant history in the A-share market [4]. Group 2: Financial Implications - Huatai Fund's decision to adjust the valuation of Tianmao Group's stock is aimed at protecting the interests of fund holders amid potential large adjustments in stock prices due to regulatory penalties or fundamental changes [1]. - As of the end of 2023, Tianmao Group's subsidiary, Guohua Life, has total assets nearing 300 billion yuan and net assets exceeding 26 billion yuan [4].

Group 1 - The stock price of Tianmao Group (000627) has been significantly reduced by a fund company, with a valuation set at 0.27 CNY per share, down from 2.74 CNY per share, representing a decline of over 90% [1] - The fund company, Huatai Fuhua Fund, stated that the adjustment in stock valuation is primarily to protect the interests of fund holders, especially when a listed company faces regulatory penalties or significant changes in its fundamentals [1] - Tianmao Group has been suspended from trading for nearly two months due to its failure to disclose its 2024 annual report by the legal deadline of April 30 [4] Group 2 - If Tianmao Group does not disclose more than half of its board members' guarantees of the accuracy and completeness of the annual report within two months from the date of the delisting risk warning, its stock will be terminated from listing [5] - The company has limited time left to complete and disclose its annual report, with just over two months remaining [5] - The actual controller of Tianmao Group is Liu Yiqian, a well-known art collector and investor, who has a significant background in the A-share market [5]