Group 1 - The company,交银施罗德基金管理有限公司, has announced the addition of 宁波银行股份有限公司 as a sales institution for its funds starting from September 1, 2025 [1][2][3] - The announcement includes a note that the specific details regarding the sales processes, types of business, and any fee discount activities will be determined by the sales institution and its branches, in compliance with the fund contract and prospectus [2][5] - Investors can consult for more details through 宁波银行 and 交银施罗德基金管理有限公司 via their respective customer service numbers and websites [2][6] Group 2 - The company has also announced the addition of 珠海盈米基金销售有限公司 as a sales institution for its funds, effective from September 1, 2025 [4][5][7] - Similar to the previous announcement, it is noted that the specific details regarding sales processes and fee discounts will be subject to the arrangements of the sales institution [5][6] - Investors can reach out to 珠海盈米基金销售有限公司 and 交银施罗德基金管理有限公司 for further inquiries through their customer service channels [6][7]

Group 1 - Shanghai Jinggu Fund Sales Co., Ltd. has applied to the China Securities Regulatory Commission for the cancellation of its public fundraising securities investment fund sales business license [1] - The cancellation of the license was anticipated as another fund company, China Ocean Fund, announced the termination of its cooperation with Jinggu Fund on August 15, effective from August 18 [1] - Jinggu Fund, established in 2014, has a registered capital of 20 million yuan and its business scope is limited to fund sales [1] Group 2 - The company is currently listed as "suspended" and its website has also been deregistered [2] - The fund sales market has been undergoing a rapid "shuffle," with several institutions, including Zizhou Fund and Huarong Rongda Futures, having canceled their fund sales licenses since last year [2] - Industry insiders indicate that the reshuffling will continue, with compliance capability and resource endowment becoming critical for the survival of distribution agencies [2]

Group 1 - Shanghai Jinggu Fund Sales Co., Ltd. has applied for the cancellation of its public fund sales license, as announced by the Shanghai Securities Regulatory Bureau on August 29 [1] - The cancellation of the license follows a trend where multiple fund companies have recently terminated their distribution agreements with Jinggu Fund, indicating a decline in its operational status [1][2] - Jinggu Fund, established in 2014 with a registered capital of 20 million yuan, is currently listed as "suspended" and its website has been deactivated [1] Group 2 - The fund sales industry is experiencing a "Matthew effect," where smaller sales institutions are struggling, with several having already canceled their fund sales licenses since last year [2] - Many small third-party fund sales institutions have faced difficulties in establishing significant sales volumes, leading to fund companies terminating their partnerships with them [2] - The retail and institutional segments of fund sales present challenges for small third-party institutions, as large internet platforms have a competitive advantage in retail due to their financial application scenarios and traffic support [2]

【导读】上海景谷基金注销公募基金销售牌照 中国基金报记者 张燕北 又一家销售机构注销基金销售牌照。 8 月 29 日，上海证监局发布公告表示，近期， 上海景谷基金销售有限公司 （以下简称景谷 基金）向中国证券监督管理委员会提交了注销公开募集证券投资基金销售业务许可证的申 请。 景谷基金注销基金销售业务许可证已有前兆。近期，多家基金公司密集发布公告，宣布终止 与该机构的基金代销业务合作。 天眼查信息显示，景谷基金销售公司成立于 2014 年，江苏中宏投资实业有限公司是其全资 控股股东，注册资本为 2000 万元，公司经营范围为基金销售。从企业经营状态来看，目前 该公司显示 " 停业 " ，公司网站也已经注销。 值得注意的是，基金销售 " 马太效应 " 加剧，多家小型销售机构举步维艰。据不完全统计， 去年以来，已有阜新银行、中民财富、喜鹊财富、青岛乐弘基金、北京恒宇天泽、成都华羿 恒信、华融融达期货、资舟基金、民商基金、财咖啡等注销基金销售牌照，其中多数为第三 方独立基金销售机构。 业内人士坦言，过去几年，虽然部分基金公司同时和很多家第三方基金销售机构签了代销协 议，但是除了头部互联网平台，真正能将基金销售业务做 ...

Market Overview - The A-share market performed strongly from August 18 to August 22, with major indices generally rising. The ChiNext 50 Index surged by 6.31%, and the Sci-Tech 50 Index increased by over 13%, indicating a focus on growth stocks in this market rally [2][4] - The Shanghai Composite Index rose by 3.49%, closing above 3800 points, while the Shenzhen Index and ChiNext Index increased by 4.57% and 5.85%, respectively [2][4] Industry Performance - The average increase of Wind's first-level industry indices was over 3%, with the information technology sector leading at 8.68%. Other sectors such as telecommunications, consumer discretionary, industrials, and materials also performed well [12][14] - All sectors recorded positive returns, with telecommunications, electronics, and comprehensive sectors showing strong performance, increasing by 10.84%, 8.95%, and 8.25%, respectively. Conversely, the pharmaceutical, coal, and real estate sectors lagged behind with increases of 1.05%, 0.92%, and 0.50% [2][12] Fund Issuance and Performance - A total of 38 funds were issued last week, including 26 equity funds, 6 mixed funds, 5 bond funds, and 1 QDII fund, with a total issuance of 23.314 billion units [2][19] - The Wind All Fund Index rose by 1.98%, with the ordinary equity fund index increasing by 3.60% and the mixed equity fund index rising by 3.52% [8][19] Global Asset Review - Global asset performance showed a "rise in the East and fall in the West." U.S. indices rebounded strongly after a dovish speech by Fed Chair Powell, while European markets displayed mixed results due to economic slowdown concerns [4][5] - The Hang Seng Tech Index rose due to policy support from China and inflows of southbound capital [4] Bond Market Review - The bond market saw a decline in 30-year and 10-year government bond futures, indicating a significant "stock-bond seesaw" effect, reflecting high sensitivity of investors to long-term interest rates [15][16]

Group 1 - The company, Jianxin Fund Management Co., Ltd., has signed a distribution agreement with Shanghai Lead Fund Sales Co., Ltd. to allow Lead to sell certain funds starting from August 25, 2025 [1] - Investors can consult details through Lead's customer service at 400-032-5885 or visit their website [1] - Jianxin Fund Management also provides a customer service hotline at 400-81-95533 and a website for inquiries [1] Group 2 - The announcement emphasizes that while the company commits to managing and utilizing fund assets with honesty and diligence, it does not guarantee profits or minimum returns for investors [1] - Investors are advised to carefully read the fund's contract, prospectus, and product information before investing [1]

Core Viewpoint - Ant Fund's operating performance in the first half of 2025 showed significant growth, with net profit increasing nearly fourfold year-on-year, driven by a recovering A-share market and increased investor activity [1][3][7]. Financial Performance - Ant Fund's revenue for the first half of 2025 exceeded 9.25 billion yuan, representing a year-on-year growth of 22.46% [3][6]. - The net profit reached 434 million yuan, a staggering increase of 360.66% compared to the same period last year, nearly matching the total net profit for the entire previous year [3][6]. - The net profit margin for the first half of 2025 was 4.69%, up from 2.76% in 2024 [6]. Market Position - Ant Fund maintained its leading position in the industry, with significant growth in non-monetary fund, equity fund, and stock index fund holdings, all ranking first in their respective categories [9]. - The non-monetary fund, equity fund, and stock index fund holdings reached 1.45 trillion yuan, 738.8 billion yuan, and 320.1 billion yuan respectively in the second half of 2024, with substantial growth in absolute terms [9]. Industry Outlook - The recovery of the capital market is expected to further boost fund sales, enhancing the operational performance of fund sales institutions [10]. - However, challenges may arise from upcoming regulatory changes that could lower sales fees for public funds, potentially impacting revenue for third-party fund sales institutions [11].

Core Viewpoint - Ant Fund's operating performance in the first half of 2025 showed significant growth, with net profit increasing nearly fourfold compared to the previous year, driven by a recovering A-share market and increased investor activity [2][3][6]. Financial Performance - In the first half of 2025, Ant Fund achieved revenue of 9.25 billion yuan, a year-on-year increase of 22.46%, and net profit of 434 million yuan, a staggering increase of 360.66% [5][6]. - The net profit for the first half of 2025 is nearly equal to the total net profit for the entire previous year [5]. Market Context - The recovery of the A-share market in 2025 compared to the first half of 2024 has enhanced the market's profitability, encouraging investors to allocate more funds into mutual funds, which has led to an increase in new fund sizes [6]. - Increased trading activity among investors, including subscriptions and redemptions, has contributed to higher transaction fee income for Ant Fund [6]. Competitive Position - Ant Fund maintains the largest scale in the industry for non-monetary funds, with significant holdings in equity and stock index funds, leading in multiple dimensions of public fund sales [8]. - As of the second half of 2024, Ant Fund's non-monetary fund, equity fund, and stock index fund holdings reached 1.45 trillion yuan, 738.8 billion yuan, and 320.1 billion yuan respectively, all ranking first in their categories [8]. Future Outlook - Industry experts believe that the recovery of the capital market is likely to further boost fund sales, enhancing the operational performance of fund sales institutions [9]. - However, challenges may arise from upcoming regulations that could lower subscription and service fees for public funds, potentially impacting revenue for third-party fund sales institutions [10].

Core Insights - Ant Fund, a subsidiary of Hengsheng Electronics, reported a revenue of 9.251 billion yuan for the first half of 2025, representing a 22.46% increase compared to 7.554 billion yuan in the same period last year [1] - The net profit for Ant Fund reached 434 million yuan, a significant increase from 94.274 million yuan in the previous year, marking an over 360% growth [1]

Core Viewpoint - In order to better meet the investment needs of investors, Invesco Great Wall Fund Management Co., Ltd. has signed a sales agreement with multiple sales institutions, allowing them to sell certain funds starting from August 21, 2025 [1][5][9][15][22]. Group 1: Applicable Funds - The announcement specifies that certain funds managed by Invesco Great Wall will be available for sale through the newly appointed sales institutions [1][5][9][15][22]. Group 2: Sales Institution Information - Shanghai Zhongou Wealth Fund Sales Co., Ltd. is one of the newly appointed sales institutions, with its registered address in the China (Shanghai) Free Trade Zone [2]. - China Zhongjin Wealth Securities Co., Ltd. is another sales institution, with its registered address in Shenzhen [5][10]. - Shanghai Changliang Fund Sales Co., Ltd. is also appointed, with its registered address in Shanghai [15]. - Industrial Securities Co., Ltd. is included as a sales institution, with its registered address in Fuzhou [22]. Group 3: Business Operations - Subscription and redemption services are only applicable during normal subscription periods and specific open days [2][5][10][15][22]. - Regular investment plans allow investors to set up automatic deductions for fund purchases [2][5][10][15][22]. - Fund conversion services will be available, subject to specific conditions regarding the redeemability of the outgoing fund and the availability of the incoming fund [3][6][11][17][24]. - Discounts on subscription fees may be offered for certain funds, depending on the sales institution's arrangements [4][6][11][17][24]. Group 4: Investor Consultation - Investors can consult Invesco Great Wall Fund Management Co., Ltd. and the respective sales institutions for more details regarding the funds and services offered [4][7][12][23].