富兰克林国海恒泽90天持有期债券型证券投资基金基金合同全文和招募说明书全文于2025年10月13日在 本公司网站（http://www.ftsfund.com）和中国证监会基金电子披露网站（http://eid.csrc.gov.cn/fund）披 露，供投资者查阅。如有疑问可拨打本公司客服电话（400-700-4518、95105680、021-38789555）咨 询。 本基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证本基金一定盈利，也不 保证最低收益。请充分了解本基金的风险收益特征，审慎做出投资决定。 特此公告。 国海富兰克林基金管理有限公司 2025年10月13日 ...

Group 1 - Tianhong Fund Management Co., Ltd. will appoint Great Wall Securities Co., Ltd. as the new agent for subscription and redemption of the Tianhong Hang Seng Technology ETF (QDII) starting from October 13, 2025 [1] - Investors are advised to follow the specific processes and rules set by the sales institutions for subscription and redemption of the fund [1] - Contact information for inquiries includes Tianhong Fund Management's customer service at 95046 and Great Wall Securities' customer service at 400-6666-888 [1] Group 2 - The announcement indicates a strategic partnership aimed at enhancing the fund's accessibility and investor engagement [1] - The fund code for Tianhong Hang Seng Technology ETF is 520920, which is relevant for investors looking to track or invest in this specific fund [1] - The notice emphasizes the importance of consulting the respective sales institutions for detailed operational guidelines [1]

Core Points - Dongcai Fund Management Co., Ltd. is participating in a fee discount activity for fund subscription and purchase through BOC International Securities Co., Ltd. to better meet investors' financial needs [1][3]. Group 1: Applicable Time - The fee discount period will be based on the announcement made by BOC International Securities [1]. Group 2: Applicable Fund Range - The fee discount activity will apply to fund products sold by Dongcai Fund Management through BOC International Securities starting from the date the fund is available for sale [2]. Group 3: Fee Discount Plan - During the fee discount period, there will be no limit on the discount rate for subscription and purchase fees, with specific rates to be announced by BOC International Securities [3]. Group 4: Applicable Investors - The fee discount is available to investors who subscribe or purchase the aforementioned funds through BOC International Securities [4]. Group 5: Important Notes - Detailed information about the funds and original fee rates can be found in the relevant legal documents and announcements from the company [5]. - Any changes to the fee discount plan and applicable time will be based on the latest announcements from BOC International Securities [5][6]. Group 6: Contact Information - Investors can consult details through Dongcai Fund Management Co., Ltd. or BOC International Securities via their respective customer service numbers and websites [7].

Group 1 - The report highlights the growth of the ETF market, with a total of 1,325 ETFs and a total asset size of 56,267.83 billion yuan as of September 30, 2025, with A-share ETFs and cross-border ETFs leading in size at 36,897.29 billion yuan and 9,048.33 billion yuan respectively [4][8] - Guotai Fund has established a comprehensive presence in the ETF market since launching its first ETF in 2011, currently managing 72 non-monetary ETFs with a total size of 2,550.65 billion yuan as of September 30, 2025 [6][11] - The report introduces a monthly selection strategy based on a composite momentum factor derived from normalized anchoring ratios and momentum acceleration indicators, identifying the top five indices for investment [4][17] Group 2 - The historical performance of the ETF portfolio from July 1, 2021, to September 30, 2025, shows a total return of 13.93% and an annualized return of 3.11%, outperforming the CSI 300 index by an annualized excess return of 5.89% [18][22] - The report lists the current ETF portfolio, which includes Guotai's Science and Technology Innovation Board Chip ETF, New Energy ETF, Artificial Intelligence ETF, and CES Semiconductor Chip ETF, with respective weights of 23.06%, 21.31%, 17.67%, and 22.59% [25][27]

Core Insights - China Guoxin aims to build a comprehensive financial service platform for state-owned enterprises, focusing on differentiated, specialized products to support the real economy and enhance technological innovation, industrial control, and safety support [2] Recruitment Opportunities - China Guoxin is publicly recruiting for various positions across its subsidiaries, including roles in business, risk management, operations, and administration [3][4][5][6] Specific Positions Available - Positions include business roles at Guoxin Commercial Factoring Co., risk management roles at Guoxin Financing Leasing Co., and various managerial and research positions at Guoxin National Certificate Fund Management Co. [4][5][6] Qualifications Required - Candidates must support the leadership of the Communist Party of China, adhere to laws and regulations, possess a strong sense of responsibility, and align with the corporate culture of China Guoxin [6]

Core Insights - Peter Lynch, a legendary investor, emphasizes the importance of understanding one's investments and not being swayed by market fluctuations [8][9][10] - Lynch's investment philosophy focuses on long-term value rather than short-term market predictions, advocating for thorough research and knowledge of the companies in which one invests [11][14][19] Group 1: Investment Philosophy - Lynch believes that the key to making money in the stock market is to not be scared off by panic, stressing the importance of knowing what one owns [8][9] - He advises investors to write down their reasons for buying stocks, which helps in maintaining focus during market volatility [10][11] - Lynch highlights the common mistake of chasing trends without understanding the underlying business, which can lead to poor investment decisions [10][12] Group 2: Market Timing and Predictions - Lynch argues that trying to predict market downturns often leads to greater losses than the downturn itself, as economists frequently miss the mark on predictions [11][14] - He emphasizes the importance of focusing on current facts and company fundamentals rather than macroeconomic forecasts [11][14] Group 3: Investment Opportunities - Lynch suggests that many successful investments come from observing consumer behavior in everyday life, but warns against equating product popularity with stock value [15][16] - He notes that overlooked companies can present significant investment opportunities, as they may be undervalued by the market [24] Group 4: Personal Experience and Legacy - Lynch reflects on his decision to retire at the peak of his career, valuing time with family over the allure of continued financial success [4][5] - He encourages self-driven investors to take responsibility for their investment choices, highlighting the importance of research and understanding in achieving financial success [28][29]

Core Insights - Peter Lynch, a legendary fund manager, achieved an annualized return of 29.2% while managing the Fidelity Magellan Fund from 1977 to 1990, growing it from $18 million to $14 billion [5][6]. - Lynch emphasizes the importance of understanding what one is buying and suggests that investors should write down their reasons for purchasing a stock before buying it [7][10]. - He warns that the real danger in investing is not market volatility but being scared away by it, noting that the average stock on the NYSE experiences a 100% annual volatility [8][9]. Investment Philosophy - Lynch's key investment principle is to know what one is buying; if an investor cannot explain their investment to an 11-year-old in a minute, they should not buy it [10][81]. - He believes that successful investing is not about predicting the future but understanding the present and relying on diligence, common sense, and real-world observation [13][110]. - Lynch advises investors to write a script before buying stocks, detailing why they are buying and why the stock is undervalued [84][91]. Market Insights - Lynch acknowledges the current high valuations in the market, with the S&P 500 trading at a 22x P/E ratio, which he does not consider catastrophic [11]. - He expresses skepticism about the AI hype, stating he has not invested in any AI stocks and only recently learned how to pronounce "Nvidia" [10][161]. - Lynch reflects on the market's tendency to overlook companies that are undervalued or in distress but have potential for recovery, suggesting that these can be lucrative investment opportunities [170][171]. Personal Experience and Lessons - Lynch shares his journey from being a caddy to becoming a successful analyst at Fidelity, highlighting the importance of real-world experience in understanding investments [32][39]. - He recounts the pressure of managing funds for many American families and how he navigated market downturns by maintaining confidence in his investments [22][24]. - Lynch emphasizes that ordinary investors can succeed by applying diligence and common sense, rather than relying solely on complex models or predictions [172][174].

Group 1 - The core point of the article is the launch of the "Jia Shi Hang Seng Hong Kong Stock Connect Technology Theme ETF Linked Fund," which has been approved for registration by the China Securities Regulatory Commission [1] - The fund is a contractual open-ended ETF linked fund, with two classes: Class A and Class C, where Class A charges subscription fees and Class C does not [1][2] - The fund will be publicly offered from October 15, 2025, to October 21, 2025, through various sales institutions [2] Group 2 - The minimum subscription amount for the fund is set at RMB 1 for online direct sales or non-direct sales institutions, while the minimum for direct sales center subscriptions is RMB 20,000 [3][14] - Investors can subscribe multiple times during the fundraising period, with no upper limit on the total subscription amount for a single investor [3][14] - Investors must open a fund account with the company to purchase the fund, and only one fund account is allowed per investor [3][8] Group 3 - The fund aims to closely track the performance of the underlying index, with a target daily tracking deviation of no more than 0.35% and an annual tracking error of no more than 4% [17] - The fund's initial share value is set at RMB 1.00 for both Class A and Class C shares [16][29] - The fund does not have a specific fundraising target [18] Group 4 - The fund's investment objective is to invest primarily in the Jia Shi Hang Seng Hong Kong Stock Connect Technology Theme ETF to achieve minimal tracking deviation from the underlying index [17] - The fund's underlying index is the Hang Seng Hong Kong Stock Connect Technology Theme Index, which reflects the performance of eligible Hong Kong-listed companies related to technology [11] - The fund will be managed by Jia Shi Fund Management Co., Ltd., with custody provided by Guangfa Securities Co., Ltd. [1][69]

Group 1 - The core viewpoint of the news is that Mingzhi Electric experienced a decline in stock price, dropping by 5.01% to 78.16 CNY per share, with a trading volume of 1.502 billion CNY and a turnover rate of 4.41%, resulting in a total market capitalization of 32.740 billion CNY [1] - Mingzhi Electric, established on July 7, 1998, and listed on May 9, 2017, focuses on research and development in the fields of motion control and intelligent power, with its core business centered around automation and intelligence [1] - The revenue composition of Mingzhi Electric includes 83.60% from control motors and their drive systems, 8.39% from trade products, 6.90% from power and lighting system control, 1.07% from equipment status management systems, and 0.03% from other sources [1] Group 2 - According to data from the top ten holdings of funds, Qianhai Kaiyuan Fund has one fund heavily invested in Mingzhi Electric, specifically the Qianhai Kaiyuan China Growth Mixed Fund (000788), which held 12,000 shares in the second quarter, accounting for 1.37% of the fund's net value [2] - The Qianhai Kaiyuan China Growth Mixed Fund (000788) has a total scale of 50.3053 million CNY and has achieved a year-to-date return of 23.6%, ranking 4426 out of 8166 in its category [2] - The fund manager of Qianhai Kaiyuan China Growth Mixed Fund is Yuan Yichun, who has been in the position for 3 years and 55 days, with the fund's total asset scale at 67.572 million CNY [3]

Group 1 - The core point of the news is that Lingpai Technology's stock has experienced a decline of 5.02%, with a current price of 33.84 CNY per share and a total market capitalization of 5.819 billion CNY [1] - Lingpai Technology, established on December 12, 2002, and listed on August 9, 2016, specializes in the research, production, and sales of new environmentally friendly surface engineering chemicals and new energy power battery businesses [1] - The revenue composition of Lingpai Technology includes 33.11% from new energy EPC business, 33.11% from new energy batteries and systems, 29.04% from coating additives, 3.81% from other sources, 0.77% from coating intermediates, and 0.16% from chemical trading products [1] Group 2 - Among the top circulating shareholders of Lingpai Technology, a fund under AVIC Fund ranks as a significant holder, with the AVIC New Start Flexible Allocation Mixed A Fund (005537) newly entering the top ten shareholders in the second quarter, holding 895,800 shares, which is 0.57% of the circulating shares [2] - The AVIC New Start Flexible Allocation Mixed A Fund has achieved a year-to-date return of 95.54%, ranking 105 out of 8166 in its category, and an annual return of 84.28%, ranking 214 out of 8014 [2] - The fund manager of AVIC New Start Flexible Allocation Mixed A Fund, Han Hao, has been in the position for 7 years and 303 days, with a total asset scale of 1.788 billion CNY and a best fund return of 204.79% during his tenure [3] Group 3 - The AVIC New Start Flexible Allocation Mixed A Fund increased its holdings in Lingpai Technology by 564,900 shares in the second quarter, bringing its total to 895,800 shares, which constitutes 7.4% of the fund's net value, making it the fifth-largest holding [4]