Group 1 - The announcement states that交银施罗德基金管理有限公司 has signed a sales agreement with 西部证券股份有限公司 to add it as a sales institution for its funds starting from August 22, 2025 [1] - The specific funds applicable under this agreement will be determined based on compliance with the fund contract and prospectus, with details on sales processes, types of business, and any fee discounts subject to the arrangements of the sales institution [1] - Investors can consult for more details through 西部证券's customer service or the official website of 交银施罗德基金 [1] Group 2 - The announcement is officially made by 交银施罗德基金管理有限公司 on August 22, 2025 [2] - The document also mentions the formation of a MACD golden cross signal, indicating positive trends in certain stocks [2]

Group 1 - The fund is a bond-type securities investment fund managed by CCB Fund Management Co., Ltd. [1] - The fund has a minimum holding period of 60 days for each fund share, during which no redemption will be processed [2][12] - The fund management company must announce any changes to the subscription and redemption times in accordance with legal regulations [3] Group 2 - The minimum subscription amount for each transaction account is set at 1 RMB [4] - A-class fund shares incur a subscription fee, while C-class fund shares do not charge any subscription fees [5][8] - Pension clients can enjoy a 10% discount on subscription fees if they complete account authentication at the direct sales counter [6] Group 3 - Each redemption request must not be less than 0.01 fund shares, and if the remaining balance is less than 0.01 shares, a full redemption is required [12] - There are no redemption fees if the minimum holding period is met [12] - The fund management company can adjust redemption limits and fees as permitted by law [13] Group 4 - The fund allows for conversion between its shares and other funds managed by the same company, with conversion fees based on the difference in subscription and redemption fees [14][15] - The conversion business is applicable to other open-end funds managed by the company that have announced the opening of conversion services [16] Group 5 - The fund offers a regular investment plan where investors can set up automatic deductions for fund purchases [18] - The minimum investment amount for the regular investment plan is also set at 1 RMB [20] Group 6 - The fund management company must disclose the net asset value and cumulative net asset value of the fund shares on the next business day after processing subscription or redemption requests [24] - Investors must follow the procedures set by the sales institutions to submit subscription or redemption requests during the specified business hours [25]

Group 1: Fund Overview - The fund focuses on the Changsha Lanxiu City project, categorized as a consumer infrastructure project, aiming to generate stable cash flow through rental income and proactive management [1] - The operational management institution is Jinmao Commercial Real Estate (Shanghai) Co., Ltd., which has maintained stable operational capabilities as of the announcement date [1] Group 2: Operational Status - The overall operational status of the infrastructure project company is good, with no safety production accidents or significant lease changes reported [2] - The management team of the operational management institution is stable, and the recent change in senior management personnel is a normal adjustment that does not affect operational capabilities [4] Group 3: Management Changes - The financial head of Jinmao Commercial Real Estate (Shanghai) Co., Ltd. has changed from Deng Yan to Tan Leilei due to work adjustments, with Tan having a background in finance from Deloitte and Ernst & Young [3] Group 4: Fund Performance and Cash Flow - As of August 21, 2025, the fund's closing price in the secondary market was 4.007 yuan per share, reflecting a 59.64% increase from the initial issuance price [15] - The fund is projected to have a distributable amount of 64,600,262.41 yuan from April 1, 2025, to December 31, 2025, with an estimated total of 85,742,166.47 yuan for the year [14][15] Group 5: Liquidity Service Providers - Northeast Securities Co., Ltd. has been added as a liquidity service provider for specific funds effective August 22, 2025 [9] - China International Capital Corporation has also been appointed as a liquidity service provider for several funds effective August 22, 2025 [10] Group 6: Shareholder Rights - A total of 75,000,000 shares, representing 10.36% of the fund's total shares, will be released from restrictions on September 1, 2025, following a 36-month lock-up period [12] - After the release, the total tradable shares will increase to 400,000,000, accounting for 55.23% of the fund's total shares [12]

Core Viewpoint - The company, Jin Ying Fund Management Co., Ltd., has entered into an agency sales agreement with Shen Gang Securities Co., Ltd. to enhance investor services by allowing the sale of certain funds through Shen Gang Securities starting from August 22, 2025 [1]. Group 1: New Fund Sales - The company will begin selling specific funds through Shen Gang Securities, which will also facilitate fund conversion and regular investment plans [1]. - Investors can perform various transactions such as account opening, subscription, redemption, conversion, and regular investment through Shen Gang Securities, adhering to the relevant regulations and legal documents [1]. Group 2: Important Notices - Certain funds, including Jin Ying Tian Run and Jin Ying Tian Xing, are currently in a closed period and will not allow subscription, redemption, or conversion until further notice [2]. - The regular investment plan allows investors to set up automatic deductions for fund purchases at specified intervals [2]. - Fund conversion is not applicable for certain funds, including those with backend fee structures and FOF products, which cannot convert with non-FOF funds [2]. Group 3: Fee Discounts - The minimum discount for subscription and regular investment fees for applicable funds through Shen Gang Securities is set at 10%, with additional promotional activities determined by Shen Gang Securities [2][3]. - If the original subscription fee is fixed, it will be applied without any discount [2]. Group 4: Investor Consultation - Investors can contact Shen Gang Securities or Jin Ying Fund Management for inquiries regarding the new fund sales and related services [3].

Group 1 - Huabao Fund Management Co., Ltd. has signed a sales agency agreement with Ningbo Bank Co., Ltd. to add Ningbo Bank's interbank platform as a distribution channel for certain funds starting from August 22, 2025 [1][2] - Institutional investors can use Ningbo Bank's interbank platform for account opening, subscription, redemption, and other services related to the applicable funds [2] - Huabao Fund Management Co., Ltd. has also signed a similar agreement with China Life Insurance Co., Ltd. to add China Life as a distribution channel for certain funds, effective from August 22, 2025 [4][5] Group 2 - Investors can access the funds through China Life for account opening, subscription, redemption, and other services [5] - Contact information for both Huabao Fund and the respective banks is provided for investor inquiries [2][5]

Group 1 - Maanshan Iron & Steel Company Limited (Ma Steel) has experienced a decline in stock price for five consecutive trading days, with a cumulative drop of -4.62% [1] - Ma Steel is a subsidiary of China Baowu Steel Group, operating one A+H share listed company and one New Third Board listed company, with a steel production capacity of 23 million tons and approximately 22,000 employees [1] - Southern Fund's Southern CSI 500 ETF is among the top ten shareholders of Ma Steel, having reduced its holdings in the second quarter of this year [1] Group 2 - The Southern CSI 500 ETF has achieved a year-to-date return of 20.73%, ranking 1435 out of 3420 in its category [2] - The fund's performance over various periods includes a 3.89% increase over the past week, 10.01% over the past month, and 21.08% year-to-date [2] Group 3 - The fund manager of Southern CSI 500 ETF is Luo Wenjie, who holds a Master's degree in Mathematical Finance from the University of Southern California and a Master's in Computer Science from the University of California [4] - Luo Wenjie has extensive experience in quantitative analysis and has been with Southern Fund since September 2008, currently serving as the General Manager of the Index Investment Department [4][5]

围绕青岛市建设国际航运中心的战略定位，根据市委、市政府研究部署要求，海发集团加快培育发展航 运物流和国际贸易主业，为进一步探索产业协同可能性、拓宽战略合作渠道，8月7日，海发集团赴山东 省新动能基金管理有限公司(简称"山东新动能基金公司")考察交流。 双方就潜在合作方向展开了富有建设性的对话，初步达成了合作意向。下一步，双方将围绕战略性新兴 产业投资合作开展常态化对接，加快推动合作成果落地，携手谱写互利共赢的崭新篇章。 来源：青岛海发集团 座谈会上，山东新动能基金公司主要领导对海发集团来访表示欢迎，介绍了公司投资支持山东省"十 强"现代产业体系方面的有关情况，尤其是支持培育现代海洋产业的最新进展。作为管理运营省级政府 引导基金的省属骨干金融企业，新动能基金公司与海发集团在产业直投、基金设立等方面资源互补、业 务契合，有良好的合作前景。希望双方进一步加强交流互动，为后续高效对接与务实合作筑牢基础，合 力支持山东强化陆海统筹、加快新旧动能转换、建设山东半岛世界级港口群。 海发集团主要领导介绍了集团的历史沿革、战略方向，以及在航运物流和国际贸易、集成电路、人工智 能、商业航天等新兴赛道领域的布局规划。指出此次考察学 ...

Group 1 - The China Securities Regulatory Commission (CSRC) reported that from August 19 to August 22, the first batch of AI-focused ETFs has reached 10 in number, managed by various fund companies including Huatai-PB Fund, E Fund, and others [1] - The CSI AI Index, which these ETFs track, was launched in May this year, with the latest top ten weighted stocks including Xinyi Technology, Zhongji Xuchuang, and others, collectively accounting for over 64% of the index weight [1]

Index Performance - The CSI A500 Index increased by 4.27% this week, closing at 5198.91 points as of August 22 [6] - The average daily trading volume for the week was 8003.97 billion yuan, representing a week-on-week increase of 32.60% [6] Component Stocks Performance - The top ten gainers this week included: - Cambricon Technologies (688256.SH) with a rise of 34.59% - Zhongyou Capital (000617.SZ) up by 34.38% - ZTE Corporation (000063.SZ) increasing by 32.21% [5] - The top ten losers included: - Quzhou Development (600208.SH) down by 11.68% - Giant Star Technology (002444.SZ) decreased by 6.90% - Weilan Lithium (002245.SZ) fell by 6.82% [5] Fund Performance - All 39 CSI A500 funds closed with gains of 2% or more this week, with the leading fund, Huatai-PB A500 Index (512370), showing a 4.62% increase [7] - The total scale of CSI A500 funds reached 1810.70 billion yuan, showing an increase compared to the previous week [7] - The top three funds by scale are: - Huatai-PB with 203.31 billion yuan - Guotai Fund with 183.57 billion yuan - E Fund with 183.57 billion yuan [7] Market Outlook - The short-term bull market sentiment continues to dominate the market, with expectations of maintaining strength until early September [8] - The market is anticipated to undergo limited adjustments after early September, with a positive outlook for Q4 2025 compared to Q3 2025 [8] - The transition from liquidity-driven growth to fundamental-driven growth is seen as essential for the market's upward potential in the coming year [8]

Core Insights - Harvard Management Company's (HMC) recent portfolio adjustments have sparked significant discussion in global capital markets, marking a shift in institutional investment strategies towards alternative assets like gold and Bitcoin [1][2] - The substantial increase in HMC's holdings in gold and Bitcoin reflects a deeper transformation in asset allocation logic among traditional funds [1][2] Investment Strategy Adjustments - HMC purchased 333,000 shares of SPDR Gold ETF (GLD) valued at approximately $101.5 million and increased its stake in BlackRock's Bitcoin Trust (IBIT) by 1.906 million shares, valued at about $117 million, resulting in gold and Bitcoin comprising 15% of its publicly traded portfolio [1] - Historically, HMC maintained a low allocation to physical assets, with only 3% of its total assets in physical assets by the end of 2024, indicating a significant shift in investment strategy [1] Market Environment - The backdrop for this shift includes strong performances of gold and Bitcoin in 2024, with gold rising nearly 30% in the first half of the year and Bitcoin remaining a standout asset due to halving effects and institutional participation [2] - The World Gold Council reported nearly 400 tons of net inflows into global gold ETFs in the first half of the year, reflecting a shift in market sentiment from cautious to proactive allocation [2] Alternative Asset Positioning - HMC's actions signal a broader acceptance of gold and Bitcoin as core components of institutional portfolios, moving beyond their previous roles as risk hedges or non-mainstream investments [2] - The inclusion of Bitcoin in HMC's portfolio indicates a heightened acceptance of digital assets within mainstream capital markets [2] Technology Sector Focus - HMC's largest single holding is Microsoft, with a 48% increase to 623,300 shares, reflecting confidence in AI and cloud computing ecosystems [3] - HMC also increased its position in Nvidia by 30% to 269,000 shares, while reducing its holdings in Alphabet by about 10% and significantly cutting its stake in Meta by 67% [3] - This strategic focus on a few competitive AI leaders rather than a broad array of growth tech stocks indicates a clear investment direction [3] Strategic Logic - HMC's investment behavior reveals two strategic pathways: enhancing portfolio diversification and risk mitigation through increased allocations to gold and Bitcoin, and a selective approach in technology stocks focusing on long-term growth potential [3] - This "dual-driven" strategy aims to balance stability and growth, addressing macroeconomic uncertainties while capturing structural growth opportunities [3] Market Implications - HMC's adjustments may set a precedent for other institutional investors, potentially leading to increased inclusion of gold and Bitcoin in asset allocation discussions among public pensions, sovereign funds, and large asset management firms [4] - The reevaluation of technology stocks could further concentrate capital towards AI leaders, driving structural differentiation in global capital markets [4] - Overall, HMC's significant investments in gold, Bitcoin, and strategic tech holdings highlight a new institutional investment paradigm focused on diversification, risk management, and growth [4]