公告送出日期：2026年01月24日 1公告基本信息 3离任基金经理的相关信息 ■ 4其他需要说明的事项 本公司已就上述事项在中国证券投资基金业协会完成相关手续。 汇添富基金管理股份有限公司 2026年01月24日 ■ 2新任基金经理的相关信息 ■■ ...

Core Viewpoint - The company will adopt the "index income method" for valuing certain suspended stocks held by its funds starting from January 23, 2026, in accordance with regulatory guidelines and agreements with custodial banks [1] Group 1: Regulatory Compliance - The valuation policy is based on the "Guidance on Valuation Business of Securities Investment Funds" issued by the China Securities Regulatory Commission on September 5, 2017 [1] - The company will strictly adhere to the "Enterprise Accounting Standards," the guidance, and relevant regulations from the China Securities Regulatory Commission regarding the valuation of investment products held by its funds [1] Group 2: Investor Communication - Investors are encouraged to pay attention to the valuation changes and can access further information through the company's website or customer service hotline [1] - The company will revert to using the closing price for valuation once the suspended stocks resume trading and exhibit active market trading characteristics [1]

Core Viewpoint - Yinhui Technology (300221.SZ) is seeking opportunities in emerging industries by investing 50 million yuan in a private equity fund focused on network, communication, and smart terminal industries, while ensuring that its daily operations and development remain unaffected [1] Group 1 - The company has signed a subscription agreement and a partnership agreement with the Shenzhen Tongchuang Network and Communication and Smart Terminal Industry Private Equity Fund [1] - The investment is made using the company's own funds, amounting to 50 million yuan [1] - The company has also entered into a business cooperation agreement with Shenzhen Tongchuang Jinxiu Asset Management Co., Ltd., the fund manager [1]

Group 1 - The core issue is that the Huabao Nasdaq Select Fund, despite its name, has underperformed the Nasdaq index, becoming the only Nasdaq-themed product with negative returns in the market [1] - The fund's poor performance is attributed to its investment choices, including significant holdings in stocks like NIO, which is neither a Nasdaq 100 component nor a relevant index stock [1] - The fund is actively managed, allowing the manager to select from all Nasdaq-listed stocks, yet the choice of NIO has negatively impacted its performance [1] Group 2 - In Q4 2025, NIO's stock price plummeted by 33%, yet the fund manager increased holdings significantly, making it the 11th largest position in the fund [2] - The top ten holdings, including Nvidia, Tesla, and Netflix, have shown mediocre performance, contributing to the fund's slow growth and rapid decline [2] - As of Q3 2025, the fund's scale appears to be between 3800-4000 billion, while actively managed funds have decreased from 300 billion to 180 billion, indicating a shift in management focus away from active equity products [2]

Core Viewpoint - The company has decided to terminate the public REITs project, which was previously under review by regulatory authorities [1] Group 1: Company Actions - The company announced the termination of the public REITs issuance application during the 10th meeting of the 9th Board of Directors held on January 16, 2026 [1] - The fund manager, Jianxin Fund Management Co., Ltd., and the asset support plan manager, Jianxin Capital Management Co., Ltd., have submitted an application to the China Securities Regulatory Commission and the Shenzhen Stock Exchange to terminate the review process [1] - As of the date of the announcement, the application process for the REITs project with the regulatory authorities has been officially terminated [1]

Core Viewpoint - The core viewpoint of the article emphasizes the need for asset management firms to continuously create stable returns for clients amidst global changes and market volatility, with 嘉实基金 proposing a "winning rate thinking" approach to reconstruct multi-asset allocation logic [2][7]. Group 1: Market Trends - There is a significant shift in residents' asset allocation in China, moving from single, low-risk assets to diversified portfolios that seek stable returns with moderate risk, mirroring trends seen in other countries under prolonged low-interest rates [2][7]. - By the end of Q3 2025, the total scale of asset management in China is projected to reach 174 trillion yuan, driven by strong demand for diversified, low-volatility, and stable products from residents [2][7]. Group 2: Challenges in Asset Allocation - Despite the strong demand for multi-asset allocation, challenges remain, including changes in market interest rates, the failure of traditional asset correlations, and the evolution of single asset pricing logic, which traditional models struggle to adapt to [2][7]. Group 3: 嘉实基金's Solutions - 嘉实基金 introduces a systematic approach called "winning rate thinking" and quality management to address these challenges, focusing on aligning investment goals with a correct Beta direction and enhancing Alpha capabilities through its research platform [3][8]. - 嘉实基金 has developed a diverse product shelf that includes standardized products emphasizing stable value growth and personalized products that reflect the investment manager's style, catering to various client needs [3][8]. - The firm aims to accumulate positive probabilities in every aspect of portfolio construction through a systematic multi-asset framework, ultimately delivering stable product results to investors [3][8].

附件： 协会提醒投资者持续关注私募基金管理人的诚信合规情况，谨慎做出基金投资决策，通过基金合同约定 的纠纷解决机制和相关法律渠道维护自身合法权益。协会将继续秉持"扶优限劣"基本方针，不断完善私 募基金行业诚信信息记录机制，促进行业合规健康发展。 特此公告。 据中国证券投资基金业协会消息，2018年3月27日，中国证券投资基金业协会（以下简称协会）发布 《关于私募基金管理人在异常经营情形下提交专项法律意见书的公告》（中基协发〔2018〕2号，以下 简称《公告》）。《公告》规定，"私募基金管理人未能在书面通知发出后的3个月内提交符合规定的专 项法律意见书的，协会将按照《关于进一步规范私募基金管理人登记若干事项的公告》的有关规定予以 注销，注销后不得重新登记。" | 序号 | 管理人名称 | 登记编码 | | --- | --- | --- | | 1 | 浙江瑞丰达资产管理有限公司 | P1062869 | | 2 | 上海君冠私募基金管理有限公司 | P1013263 | | 3 | 上海蒸再投资管理有限公司 | P1062968 | | ਪੇ | 上海日赢股权投资基金有限公司 | P1015961 | | 5 ...

Core Viewpoint - CATL has announced its participation in an investment fund, marking a significant step in its investment strategy and compliance with regulatory requirements [1] Group 1: Fund Details - The investment fund "Boyu New Intelligence New Industry (Ningbo) Equity Investment Partnership (Limited Partnership)" has completed its private fund registration with the Asset Management Association of China on January 23, 2026 [1] - The fund's registration code is SBLV67, managed by Boyu Taoran (Shanghai) Equity Investment Management Co., Ltd., and custodied by Shanghai Pudong Development Bank Co., Ltd. [1] Group 2: Investment Commitment - CATL, as a limited partner, has committed to invest RMB 500 million, which represents 12.497% of the fund's total subscribed capital of RMB 4.001 billion after the first closing [1] - The completion of the fund's registration indicates that it is officially established and can begin compliant operations [1] Group 3: Future Disclosure - CATL will continue to disclose subsequent developments of the fund in accordance with relevant regulatory requirements [1]

Core Viewpoint - The AI Fund "PuYin Economic Belt Rise Mixed A" reported a profit of 55,800 yuan in Q4 2025, with a net value growth rate of 0.21% and a total fund size of 29.05 million yuan as of the end of Q4 2025 [2][16]. Fund Performance - As of January 22, the fund's unit net value was 1.187 yuan, with a one-year net value growth rate of 5.81%, ranking 1184 out of 1286 comparable funds [2][3]. - The fund's performance over the last three months showed a growth rate of 2.35%, ranking 1019 out of 1286, and over the last six months, it was 5.29%, ranking 1059 out of 1286 [3]. Investment Strategy - The fund manager indicated an active adjustment of the portfolio structure to respond to market changes, maintaining a strategy focused on stability with moderate flexibility. Positive returns were achieved in sectors like non-ferrous metals and telecommunications, while media and food & beverage sectors negatively impacted the portfolio [2]. - The fund emphasizes investing in high-rated bonds to mitigate potential credit risk volatility, maintaining a neutral duration in the bond segment, with some convertible bonds performing well [2]. Risk Metrics - The fund's Sharpe ratio over the last three years was -0.017, ranking 1178 out of 1275 comparable funds [9]. - The maximum drawdown over the last three years was 14.99%, with the largest quarterly drawdown occurring in Q3 2022 at 10.34% [11]. Portfolio Composition - The average stock position over the last three years was 23.08%, significantly lower than the comparable average of 72.57%. The fund reached a peak stock position of 47.05% in mid-2019 and a low of 13.73% in Q1 2021 [14]. - As of Q4 2025, the top ten holdings included companies such as Giant Network, SMIC, Samsung Medical, and Zijin Mining [18].

Market Performance - On January 23, the A-share market indices collectively rose, with the Shanghai Composite Index increasing by 0.33% to 4136.16 points, the Shenzhen Component Index rising by 0.79% to 14439.66 points, and the ChiNext Index up by 0.63% to 3349.5 points [1]. Sector Performance - The sectors that performed well included HIT batteries, space-based internet, and space station concepts, while sectors such as computing power, CPO concepts, and natural gas experienced declines [1]. - HIT batteries saw a net inflow of 9.39%, while the computing power sector faced a net outflow of 214.3 billion, reflecting a decrease of 2.32% [2]. Fund Manager Changes - On January 23, there were 36 fund manager changes across various funds, with 22 funds announcing departures of fund managers, involving 8 individuals [3]. - In the past 30 days, a total of 569 fund managers have left their positions, with 6 leaving due to job changes and 2 for personal reasons [3]. New Fund Managers - On January 23, 55 funds announced new fund manager appointments, involving 28 new managers. Notably, Sun Di from GF Fund has a total fund asset scale of 72.47 billion and has achieved a return of 224.66% on the GF High-end Manufacturing Stock A fund over 2 years and 131 days [5]. Fund Research Activity - In the past month (December 24 to January 23), Huaxia Fund conducted the most company research, engaging with 53 listed companies, followed by Bosera Fund with 49 and Southern Fund with 42 [7]. - The chemical products industry was the most researched sector, with 193 instances, followed by the automotive parts industry with 173 [7]. Individual Stock Research - The most researched stock in the past month was Dajin Heavy Industry, with 67 fund management companies participating in the research. This company specializes in offshore wind power equipment [9]. - In the last week (January 16 to January 23), Dajin Heavy Industry remained the top company researched, followed by NaiPu Mining Machinery and Runfeng Co., Ltd. [9].