Group 1: Company Performance - Jiejie Microelectronics reported a revenue of 1.6 billion yuan in H1 2025, a year-on-year increase of 26.77%, with major revenue sources being MOSFETs, protective devices, and thyristors [1] - Hongsoft Technology's revenue in Q2 fluctuated due to project acceptance delays, but the company remains optimistic about growth in mobile smart terminal business [2] - Luwei Optoelectronics achieved a revenue of 544 million yuan in H1 2025, a 37.48% increase year-on-year, with a net profit of 106 million yuan, up 29.13% [3] - Desay SV reported a revenue of 14.644 billion yuan in H1 2025, a 25.25% increase, with a net profit of 1.223 billion yuan, up 45.82% [4] - East China Pharmaceutical made significant progress in innovative drug development, with several products entering clinical stages [5] - Guangwei Composite's carbon fiber business faces challenges due to price competition and overcapacity, but it is optimistic about future demand [6] Group 2: Market Position and Strategy - Jiejie Microelectronics has a production capacity of 6W pieces/month for 6-inch lines and 11W pieces/month for 8-inch lines, with a focus on cash flow management [1] - Hongsoft Technology is transitioning to pure software licensing in its smart automotive business, targeting a gross margin of 90% [2] - Luwei Optoelectronics aims to become a world-class mask manufacturer, with a market share of 25.52% in G11 mask sales [3] - Desay SV has established overseas branches and is expanding its smart cockpit and driving assistance business, with a focus on technology development [4] - East China Pharmaceutical is planning to release important data at academic conferences and has multiple aesthetic medicine products expected to launch in the next two years [5] - Guangwei Composite is expanding its R&D efforts to enhance carbon fiber applications across various sectors [6]

Group 1 - The fund name is "Zhaoshang Balanced Preferred Mixed Securities Investment Fund" [22] - The fund type is a contractual open-end mixed securities investment fund [2] - The fund manager is Zhaoshang Fund Management Co., Ltd. and the custodian is Bank of Communications Co., Ltd. [2][3] Group 2 - The fund will be publicly offered from September 2, 2025, to September 12, 2025, with the possibility of adjusting the fundraising period [4][28] - The minimum total fundraising amount for the fund is 200 million units [27] - The fund's initial share value is set at 1.00 RMB per share [26][30] Group 3 - The fund has two classes of shares: Class A shares, which charge subscription fees, and Class C shares, which do not charge subscription fees [24][31] - The subscription fee for Class A shares is calculated based on the subscription amount [31] - Investors can subscribe multiple times during the fundraising period, with specific minimum subscription amounts depending on the sales channel [36] Group 4 - The fund's sales institutions include both direct sales and non-direct sales institutions [6][29] - Investors must open a fund account provided by the registration institution to purchase the fund [3] - The fund management company can adjust the sales institutions and announce changes on its website [15]

简历显示，邢军亮先生:中国,博士研究生。历任兴业证券股份有限公司行业分析师,农银汇理基金管理有限公司研究部研究员、基金经理助理,现任农银汇理 基金管理有限公司基金经理。2021年7月15日起任农银汇理行业轮动混合型证券投资基金的基金经理。2021年11月3日起任农银汇理新能源主题灵活配置混合 型证券投资基金的基金经理。 | ○ 基金经理: 邢军亮 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 累计任职时间：4年又38天 | 任职起始日期：2021-07-15 现任基金公司:农银汇理基金管理有限公司 现任基金资产 在管基金量佳 总规模 | 任期回报 | | 基金经理简介:邢军亮先生:中国,博士研究生。历任兴业证券股份有限公司行业分析师,农银汇 理基金管理有限公司研究部研究员、基金经理助理.现任农银汇理基金管理有限公司基金经 理。2021年7月15日起任农银汇理行业轮动混合型证券投资基金的基金经理。2021年11月3日 起任农银汇理新能源主题灵活配置混合型证券投资基金的基金经理。 | | | | | | 82 ...

Core Viewpoint - Shahe Co., Ltd. experienced a significant stock drop, reaching the daily limit down on August 21, indicating potential market concerns regarding the company's performance and investor sentiment [1]. Company Overview - Shahe Co., Ltd. is a publicly listed company controlled by Shenzhen Shahe Group, with a total share capital of 201,705,187 shares. It serves as a flagship enterprise of Shenzhen's state-owned enterprises and acts as a window for the Shenzhen government in Hong Kong [1]. Shareholder Information - Southern Fund's Southern CSI Real Estate ETF is among the top ten shareholders of Shahe Co., Ltd., having increased its holdings to 0.86% in the first quarter of this year. The fund has achieved a year-to-date return of 3.28%, ranking 3223 out of 3420 in its category [1][2]. Fund Performance - The Southern CSI Real Estate ETF has shown the following performance metrics: - Year-to-date return: 3.28% - Quarterly return: 10.78% - Recent weekly return: 2.83% - Comparison with peer average returns indicates underperformance, with the peer average year-to-date return at 17.84% [2]. Fund Management - The fund manager of Southern CSI Real Estate ETF is Ms. Luo Wenjie, who holds advanced degrees in mathematical finance and computer science from U.S. universities and has extensive experience in quantitative analysis and fund management [4][5][6].

Group 1 - Chengyitong Control Technology Group Co., Ltd. was established in 2003 and successfully listed on the Shenzhen Stock Exchange in 2015, specializing in intelligent manufacturing system solutions for the biopharmaceutical industry and rehabilitation medical equipment manufacturing [1] - The company has experienced a decline in stock price, with a cumulative drop of -7.15% over four consecutive trading days as of August 21 [1] - In the second quarter of this year, GF Fund's GF Jufeng Mixed A Fund increased its holdings in Chengyitong, achieving a year-to-date return of 22.52%, ranking 1819 out of 4492 in its category [1] Group 2 - The manager of GF Jufeng Mixed A Fund is Su Wenjie, who has a background in industry research and has been with GF Fund since 2015 [3][4] - Su Wenjie has managed various funds, including GF Resource Selection Stock Fund and GF Carbon Neutral Theme Mixed Fund, and has been appointed to manage multiple funds in the coming years [4] - GF Fund Management Co., Ltd. was established in August 2003, with major shareholders including GF Securities Co., Ltd. holding 54.53% [4]

公开资料显示，永赢数字经济智选混合发起C基金成立于2023年4月10日，截至2025年6月30日，永赢数 字经济智选混合发起C规模18.34亿元，基金经理为王文龙。 金融界2025年8月21日消息，永赢数字经济智选混合发起C(018123) 最新净值1.3485元，下跌2.28%。该 基金近1个月收益率28.04%，同类排名15|4196；近3个月收益率38.52%，同类排名176|4137；今年来收 益率52.36%，同类排名200|4028。 简历显示：王文龙先生:硕士,曾任广发证券股份有限公司分析师;太平洋证券股份有限公司首席分析师; 华创证券有限责任公司首席分析师。现担任永赢基金管理有限公司权益投资部基金经理。2023年04月10 日至今,担任永赢数字经济智选混合型发起式证券投资基金的基金经理;2025年03月26日至今,担任永赢信 息产业智选混合型发起式证券投资基金的基金经理。 永赢数字经济智选混合发起C股票持仓前十占比合计69.29%，分别为：潍柴重机（9.78%）、科泰电源 （9.71%）、有方科技（8.44%）、宏景科技（8.13%）、大位科技（7.87%）、欧陆通（7.30%）、盈峰 环境（ ...

Core Viewpoint - The recent performance and management decisions of fund manager Xu Yan from Dacheng Fund have drawn criticism from investors due to underperformance and lack of significant investment activity in the newly established Dacheng Xingyuan Qihang fund [2][3][4]. Fund Performance - As of the end of Q2, Xu Yan's Dacheng Xingyuan Qihang fund has a return of -0.04% since its establishment on March 11, 2023 [3][4]. - The fund's management scale was 1.93 billion yuan at the end of Q2, with an annualized return exceeding 13% across other funds managed by Xu Yan [2][3]. - The fund has only invested in two stocks, Antu Biology and Meituan-W, both of which experienced negative returns of -7.05% and -19.58% respectively during the second quarter [3]. Investor Sentiment - Investors have expressed frustration over the fund's lack of significant investment activity, with some redeeming their shares in favor of other funds that have yielded positive returns [4][5]. - The fund's size has decreased from 1.325 billion yuan at inception to 989 million yuan by the end of Q2, indicating a loss of investor confidence [5]. Management Strategy - Xu Yan has stated that he has not begun large-scale investments due to a perceived lack of significantly undervalued stocks in the current market environment, which he views as a challenge for the new fund [3][4]. - According to the fund contract, Xu Yan is required to complete the investment portfolio within six months of the fund's establishment, which means he must finalize his investments by September 11, 2023 [4].

Group 1 - The core point of the announcement is that Dongxing Fund Management Co., Ltd. will adjust the valuation method for its funds holding the suspended stock "Huahong Company" (stock code: 688347) to the "index income method" starting from August 20, 2025 [1] - The index used for this valuation will be the AMAC Industry Index, which is the stock valuation index of the Asset Management Association of China [1] - The company will consider various relevant factors and negotiate with the fund custodian, and will revert to using the closing price for valuation once the stock resumes trading and reflects active market trading characteristics [1]

中国经济网北京8月21日讯今日，前海开源基金公告，前海开源中证军工指数增聘林巧亮。 林巧亮2018年6月至2020年6月任长城证券（002939）股份有限公司投资经理助理；2020年6月加盟前海 开源基金管理有限公司，现任公司基金经理。 前海开源中证军工指数A成立于2014年5月27日，前海开源中证军工指数C成立于2015年11月30日，截至 2025年8月20日，其今年来收益率为16.89%、16.63%，成立来收益率为88.20%、-6.38%，累计净值为 1.8820元、1.9070元。 | 基金名称 | 前海开源中证军工指数型证券投资基金 | | --- | --- | | 基金简称 | 前海开源中证军工指数 | | 基金主代码 | 000596 | | 基金管理人名称 | 前海开源基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》 | | 基金经理变更类型 | 增聘基金经理 | | 新任基金经理姓名 | 林巧亮 | | 共同管理本基金的其他基金经理姓名 | 黄明 | ...

Core Viewpoint - The A-share market has shown a clear bullish trend in 2023, with significant index breakthroughs, leading to impressive performance from many equity fund managers [4][5]. Group 1: Fund Manager Performance - As of August 15, 2023, there are 1,794 public fund managers with performance data, with the majority being new generation managers, achieving an average return of 20.68% for their equity funds [5]. - The performance of fund managers is categorized into three generations: - New Generation (less than 5 years): 901 managers, average return of 20.68% [5]. - Middle Generation (5-10 years): 635 managers, average return of 18.09% [5]. - Old Generation (10 years and above): 258 managers, average return of 16.78% [5]. - The total assets under management (AUM) for these fund managers amount to 55,735.04 billion [5]. Group 2: Top Fund Managers - The top five fund managers from the new generation include: - Liang Furui from Changcheng Fund with a return of 137.72% and AUM of approximately 1.1 billion [6][8]. - Chu Kefa and Ren Jie from Yongying Fund with returns of 122.30% and 108.97% respectively [6][9]. - The top five fund managers from the middle generation include: - Leng Wenpeng from CITIC Construction Investment Fund with a return of 104.73% and AUM of nearly 300 million [10][12]. - The top five fund managers from the old generation include: - Zhou Sicong from Ping An Fund with a return of 90.96% and AUM exceeding 3 billion [13][15]. Group 3: Investment Strategies - Liang Furui employs a unique three-cycle strategy focusing on demand and matching companies with demand cycles, particularly in the innovative drug sector [8]. - Chu Kefa combines quantitative risk control with active stock selection, favoring leading commercial companies and those with technological breakthroughs [9]. - Leng Wenpeng focuses on "specialized, refined, unique, and innovative" companies listed on the Beijing Stock Exchange [12]. - Zhou Sicong emphasizes a three-dimensional screening approach for innovative drug investments, predicting significant industry growth in 2025 [16].