Group 1 - The core point of the announcement is that Yimi Fund Management Co., Ltd. will adjust the valuation method for its funds holding the suspended stock "Huahong Company (code: 688347)" to the "index yield method" starting from August 25, 2025 [1] - The adjustment will remain in effect until the stock demonstrates active market trading characteristics, at which point the valuation will revert to using the closing price of the day without further announcement [1]

| 基金管理人名称 | 招商基金管理有限公司 | | --- | --- | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》、 | | | 《证券基金经营机构董事、监事、高级管理人员 | | | 及从业人员监督管理办法》 | | 高管变更类型 | 新任基金管理人副总经理 | 中国经济网北京8月26日讯今日，招商基金公告，任命谭智勇为副总经理。 谭智勇2004年7月至2025年7月曾在招商银行（600036）股份有限公司、招商信诺人寿保险有限公司工 作。2025年7月加入招商基金管理有限公司，现任公司副总经理。 | 新任高级管理人员职务 | 副总经理 | | --- | --- | | 新任高级管理人员姓名 | 调智勇 | | 是否经中国证监会核准取得高管任职资格 | | | 中国证监会核准高管任职资格的日期 | | | 任职日期 | 2025年8月26日 | | 过往从业经历 | 2004年7月至2025年7月曾在招商银行股份有 | | | 限公司、招商信诺人寿保险有限公司工作。2025 | | | 年7月加入招商基金管理有限公司,现任公司副 | | | 总经理。 | | 取得的相关从业资格 | ...

Core Viewpoint - Zhejiang Merchants Fund has announced the appointment of Rao Zuhua as a new fund manager for several of its investment products, indicating a strategic move to enhance management capabilities and potentially improve fund performance [1][2]. Fund Performance Summary - **Zhejiang Merchants CSI 300 Index Enhanced (LOF)**: - Established on May 7, 2012 - Year-to-date return: 13.80% (A), 13.43% (C) - Since inception return: 136.09% (A), 0.38% (C) - Cumulative net value: 2.2058 (A), 2.0171 (C) [1] - **Zhejiang Merchants CSI 500 Enhanced**: - Established on May 11, 2016 - Year-to-date return: 20.58% (A), 20.30% (C) - Since inception return: 80.32% (A), 80.26% (C) - Cumulative net value: 1.8032 (A), 1.7658 (C) [1] - **Zhejiang Merchants Fengli Enhanced Bond**: - Established on August 28, 2018 - Year-to-date return: 8.84% - Since inception return: 78.92% - Cumulative net value: 1.7892 [2] - **Zhejiang Merchants Zhiduoying Bond**: - Established on December 7, 2021 - Year-to-date return: 2.21% (A), 1.95% (C) - Since inception return: 7.86% (A), 6.26% (C) - Cumulative net value: 1.0786 (A), 1.0626 (C) [2] - **Zhejiang Merchants CSI 1000 Index Enhanced**: - Established on September 26, 2023 - Year-to-date return: 28.39% (A), 28.05% (C) - Since inception return: 29.83% (A), 28.83% (C) - Cumulative net value: 1.2983 (A), 1.2883 (C) [2] Management Changes - Rao Zuhua has been appointed as a new fund manager for multiple funds, including: - Zhejiang Merchants CSI 300 Index Enhanced (LOF) [3] - Zhejiang Merchants CSI 500 Enhanced [3] - Zhejiang Merchants Fengli Enhanced Bond [4] - Zhejiang Merchants Zhiduoying Bond [4] - Zhejiang Merchants CSI 1000 Index Enhanced [4] - Rao Zuhua has a background in quantitative research and has held positions at various financial institutions, enhancing the fund's management expertise [1].

中国经济网北京8月26日讯 24日，智通财经发布《周海栋、鲍无可、贾成东等名将离职后，接任者 们谁的业绩超过前任？》一文，文中称，今年1月，基金经理王鹏从宏利基金离职，其所管基金由魏 成、孙硕、孟杰等基金经理接任。 天天基金数据显示，1月23日，魏成接班王鹏，担任宏利景气智选18个月持有混合A的基金经理。 截至8月22日，他任职约七个月，期间回报仅为13.95%，而同类基金同期的平均收益为19.75%。李坤元 也于今年1月接任王鹏，成为宏利新兴景气龙头混合A的基金经理。而截至8月22日，她的任期内回报仅 为9.77%，业绩在同类基金中排名后二分之一。 此外，宏利高研发6个月持有混合A的接任者张岩同样业绩欠佳。截至8月22日，张岩的任期内回报 仅为3.85%，在同类基金中排名后四分之一。 资料显示，王鹏有着7年管理公募基金的经验，其此前分别任职于中邮创业基金管理有限公司、上 海磐信投资管理有限公司，一直担任TMT行业研究员。2015年6月加入泰达宏利基金管理有限公司，继 续担任TMT行业研究员，直到2017年11月开始担任基金经理。 而在上述三位接班王鹏的人中，魏成的累计管理经验尚不足3年，张岩的累计管理经验也 ...

Group 1 - The core point of the news is that Honghe Technology's stock price dropped by 5.28% to 39.49 CNY per share, with a trading volume of 462 million CNY and a turnover rate of 1.30%, resulting in a total market capitalization of 34.74 billion CNY [1] - Honghe Technology, established on August 13, 1998, and listed on July 19, 2019, specializes in the research, production, and sales of mid-to-high-end electronic-grade fiberglass cloth [1] - The revenue composition of Honghe Technology's main business includes: thin cloth 40.96%, ultra-thin cloth 18.56%, extremely thin cloth 17.77%, thick cloth 8.27%, special cloth 7.91%, yarn 6.44%, and others 0.10% [1] Group 2 - Among the top ten circulating shareholders of Honghe Technology, a fund under Xingzheng Global Fund, Xingquan He Feng Three-Year Holding Mixed Fund (009556), entered the top ten in the first quarter with 1.1363 million shares, accounting for 0.13% of circulating shares [2] - The Xingquan He Feng Three-Year Holding Mixed Fund was established on August 28, 2020, with a latest scale of 3.844 billion CNY, achieving a year-to-date return of 34.65% and a one-year return of 61.49% [2] - The fund manager Zhu Kefeng has been in position for 56 days, with the fund's total asset scale at 3.844 billion CNY, while Yang Shijin has been in position for 4 years and 262 days, managing assets of 20.155 billion CNY [3]

Core Insights - On August 26, 2025, RIFENG Co., Ltd. (002953.SZ) released its semi-annual report for 2025, indicating a total of 3 institutional investors disclosed their holdings in RIFENG's A-shares, amounting to 10.0977 million shares, which represents 2.21% of the total share capital [1] - The institutional investors include Shanghai Muxin Private Fund Management Co., Ltd. - Muxin Juyun No. 2 Private Securities Investment Fund, Shanghai Xiaofeng Private Fund Management Co., Ltd. - Xiaofeng Phoenix No. 2 Private Securities Investment Fund, and Bank of China Limited - Zhaoshang Quantitative Selected Stock Initiation Securities Investment Fund [1] - Compared to the previous quarter, the total institutional holding ratio increased by 0.46 percentage points [1] Institutional Holdings - The total number of institutional investors holding RIFENG shares is 3, with a combined holding of 10.0977 million shares [1] - The institutional holding ratio stands at 2.21% of RIFENG's total share capital [1] - There was one new public fund disclosed during this period, namely the Zhaoshang Quantitative Selected Stock Initiation A [1]

Core Insights - Tianlu Technology (301045.SZ) released its semi-annual report for 2025 on August 26, 2025, indicating a total of 3 institutional investors holding shares, amounting to 3.59% of the total share capital [1] Institutional Holdings - As of August 25, 2025, institutional investors collectively held 3.96 million shares of Tianlu Technology, representing a decrease of 0.50 percentage points compared to the previous quarter [1] - The institutional investors include Beijing Xindongneng Investment Management Co., Ltd., Suzhou Xiangcheng Daixi Venture Capital Co., Ltd., and Industrial and Commercial Bank of China - Dacheng CSI 360 Internet + Big Data 100 Index Securities Investment Fund [1] Public Fund Holdings - One new public fund disclosed its holdings this period, namely Dacheng CSI 360 Internet + Index A [1] - Two public funds were not disclosed in this period compared to the previous quarter, which are Huaan CSI 1000 Index Enhanced A and Huaan CSI 500 Index Enhanced A [1]

Group 1: Company Insights - Yingjie Electric (300820) reported a revenue of 722 million yuan for the first half of 2025, a year-on-year decrease of 9.42%, with a net profit of 119 million yuan, down 32.71% [1] - The photovoltaic sector's sales revenue was 298 million yuan, down 25.18%, while semiconductor business orders and revenue declined, but excluding the impact of changes in settlement methods, orders and sales revenue are expected to grow year-on-year [1] - Zhaoyi Innovation (603986) experienced good growth across its business lines in Q2 2024, with NOR Flash growing in the high single digits and niche DRAM growing over 50% [2] - RuiJie Network (301165) saw a significant increase in data center product revenue, primarily from internet clients, with over 90% of revenue coming from this sector [3] - Liangxin Co., Ltd. (002706) is focusing on digital energy and infrastructure, with a potential slowdown in new energy business growth in the second half of the year [4] Group 2: Market Trends and Projections - The demand for customized storage technology is expected to increase, with more industries and clients opting for this solution, providing a competitive edge for Zhaoyi Innovation [2] - RuiJie Network anticipates continued strong demand for cloud computing infrastructure, with internet companies expected to increase capital expenditures [3] - The data center market is projected to grow over 50%, while the SMB market is expected to see steady growth of 20-30% [3] - Liangxin's overseas business is experiencing slight declines in gross margins, but there is a strong demand for technical upgrades from overseas clients [4] Group 3: Product Development and Innovations - Yingjie Electric is tracking core project procurement opportunities in nuclear fusion power and expects to confirm overseas photovoltaic orders in 2026 [1] - Zhaoyi Innovation plans to launch a new LPDDR5 product line within two years, targeting the automotive MCU market with multi-core products [2] - RuiJie Network is participating in high-throughput Ethernet alliances and is developing products tailored for intelligent computing scenarios [3] - Kede CNC is establishing a domestic high-end five-axis CNC machine tool base in collaboration with major aviation companies, focusing on precision processing of complex aircraft components [5]

Core Points - The fund is named "Huaxia Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence Exchange-Traded Fund Linked Fund" and has been approved for registration by the China Securities Regulatory Commission [1] - The fund aims to invest primarily in the target ETF to achieve investment objectives, with the target ETF's benchmark index being consistent with that of the fund [10][11] - The initial fundraising cap for the fund is set at RMB 8 billion, with a subscription period from September 1, 2025, to September 19, 2025 [6][19] Fund Structure - The fund is a contract-based open-end ETF linked fund, categorized as a stock fund [2][10] - It offers two classes of shares: Class A shares, which charge a front-end subscription fee, and Class C shares, which do not charge subscription fees but deduct service fees from the fund's assets [9][12] - The initial face value for both Class A and Class C shares is RMB 1.00 [16][25] Subscription Process - Investors must submit subscription applications and ensure that funds are legally sourced and available for use [8][20] - The fund's subscription applications will be accepted through designated sales institutions, and the minimum subscription amount is RMB 1.00 [4][19] - The fund management company reserves the right to adjust the subscription period based on market conditions [15][19] Risk Management - The fund will implement a "last day proportion confirmation" method to manage the subscription cap, ensuring that if the total subscriptions exceed RMB 8 billion, only a portion will be confirmed [13][14] - Investors are advised to read the fund's prospectus for detailed information on risks associated with investing in the fund [5][12] Fund Management - The fund is managed by Huaxia Fund Management Co., Ltd., with China Construction Bank serving as the custodian [3][59] - The fund's performance may differ from the target ETF due to regulatory investment ratio requirements and the impact of large subscriptions or redemptions [11][12]

Group 1 - The fund is named "Jia Shi Zhong Zheng A500 Index Enhanced Securities Investment Fund" and has been approved for registration by the China Securities Regulatory Commission on August 4, 2025 [1] - The fund is a contractual open-end stock index enhanced fund [2] - The fund manager is Jia Shi Fund Management Co., Ltd., and the custodian is China Postal Savings Bank Co., Ltd. [3] Group 2 - The fund will be publicly offered from September 1, 2025, to September 19, 2025 [4] - The minimum subscription amount is RMB 1 for online direct sales or non-direct sales institutions, and RMB 20,000 for direct sales center counter subscriptions [5][16] - Investors can subscribe multiple times during the fundraising period, but if a single investor's total subscription reaches or exceeds 50% of the total fund shares, the fund manager may restrict further subscriptions [5][17] Group 3 - The fund aims to effectively track the benchmark index (CSI A500 Index) while enhancing and optimizing the index portfolio management and risk control to achieve excess returns [20] - The fund does not set a fundraising target [21] - The fund's initial share value is RMB 1.00 for both A and C class shares [19][28] Group 4 - The fund's investment scope includes stocks, stock index futures, and other financial derivatives, with a focus on the CSI A500 Index [11][20] - The fund's investment strategy involves selecting stocks based on market capitalization and liquidity, with a sample of 500 securities reflecting the overall performance of representative listed companies [11][13] Group 5 - The fund will be registered and managed by Jia Shi Fund Management Co., Ltd., which will also handle the fund's registration and transfer [70][72] - The fund's legal advisor is Shanghai Yuan Tai Law Firm, and the accounting firm is Rong Cheng Accounting Firm [73]