Core Insights - The National Social Security Fund achieved an investment return of 8.1% in 2024, with a total investment income of 218.418 billion yuan [3] - Since its establishment, the fund has maintained an average annual investment return of 7.39% [3] Financial Performance - As of the end of 2024, the total assets of the National Social Security Fund reached 3,322.462 billion yuan, with total equity amounting to 2,912.802 billion yuan [3] - The fund's performance is considered strong despite facing increased external pressures and market volatility [3] Risk Management - The National Social Security Fund Council has focused on enhancing its risk prevention system and ensuring the safe and value-preserving operation of the fund [3]

Core Viewpoint - The assassination of Charlie Kirk has intensified social divisions in the U.S., highlighting the influence of conservative movements among the youth and the funding mechanisms behind organizations like Turning Point USA [1][2]. Funding and Financial Growth - Turning Point USA, founded by Charlie Kirk, has seen its annual fundraising grow from $79,000 in its first year to $80 million in 2022, marking an increase of approximately 1,000 times [2]. - As of mid-2023, the organization has raised a total of $389 million, with the Wayne D. Kelsey Foundation being the largest known donor, contributing $13.1 million [2][3]. - Other notable donors include the Marcus Foundation, which donated around $7.1 million, and Charles Johnson's foundation, which contributed $4.6 million [3]. Influence on Youth - Conservative groups are systematically influencing the younger generation to maintain their long-term political, economic, and cultural interests [4]. - The rise in conservative identification among young voters is evident, with 26% of males aged 18-24 identifying as conservatives, a 5% increase compared to those aged 26-29 [6]. - Organizations like Turning Point USA and Young Americans for Liberty are actively engaging with youth through campus events, debates, and social media campaigns [6][7]. Cultural and Ideological Shift - Charlie Kirk has redefined conservatism, transforming it into a mainstream cultural identity rather than merely a political belief, appealing to young people's desire for belonging [8][9]. - The organization has shifted focus from economic issues to cultural battles, promoting Christian nationalism and traditional values [8]. Social Media and Engagement Strategies - Social media serves as a primary tool for conservative groups to engage with young audiences, utilizing relatable content to promote conservative ideologies [7]. - Turning Point USA hosts over 2,000 campus events annually, fostering direct interaction with students and enhancing their engagement [7]. International Impact - The influence of Kirk's assassination has sparked international solidarity among right-wing groups, with memorials held in cities like London and Berlin, indicating a global resonance of the conservative youth movement [11].

Group 1 - The fund contract and prospectus for the Cathay Haitong Stable Taiyu Bond Fund will be disclosed on September 30, 2025, on the company's website and the China Securities Regulatory Commission's fund electronic disclosure website [1] - The fund manager commits to managing and utilizing fund assets with honesty and diligence but does not guarantee profits or minimum returns [1] - Investors are advised to fully understand the risk-return characteristics of the fund and make prudent investment decisions [1]

Core Viewpoint - The company, Guangyang Co., Ltd. (光洋股份), announced a plan to jointly invest in a robot industry fund with several partners, indicating a strategic move towards expanding its presence in the robotics sector [1] Group 1: Investment Details - The total scale of the fund is set at 300 million yuan, with the company contributing 150 million yuan, representing 50% of the total committed capital from all partners [1] - The investment focus of the fund will include humanoid robots, embodied intelligent components, and opportunities in the low-altitude economy and related upstream and downstream industries [1] Group 2: Shareholding Structure - Oriental Fuhai, one of the partners, is an indirect shareholder of the company, holding 5.41% of its shares, while Huangshan Urban Investment holds 0.02% of the shares, both classified as related parties due to their connections with the company's actual controller [1] - The company has adopted a cautious approach, treating these partnerships in accordance with the principle of substance over form [1]

Core Viewpoint - The company plans to establish a joint investment fund focused on robotics and related industries, with a total scale of 300 million yuan, in which the company will contribute 150 million yuan, accounting for 50% of the total contributions from all partners [1] Group 1: Investment Details - The fund will be named Huangshan Jiantou Fuhai Guangyang Robotics Industry Fund Partnership (Limited Partnership) [1] - The total scale of the fund is set at 300 million yuan [1] - The company will act as a limited partner, contributing 150 million yuan [1] Group 2: Investment Focus - The investment direction of the fund will include humanoid robots, embodied intelligent components, and low-altitude economy [1] - The fund will also target upstream and downstream related industry opportunities [1]

（责任编辑：康博） 公告称，创金合信基金管理有限公司经与基金托管人协商一致，自2025年9月26日起，对我司旗下 证券投资基金持有的"诺辉健康（证券代码：6606.HK）"按照0.01港元/股进行估值。 中国经济网北京9月29日讯 近日，创金合信基金管理有限公司发布关于公司旗下部分基金估值调整 情况的公告。 ...

Group 1 - The core point of the announcement is that Xingyin Fund Management Co., Ltd. has decided to adjust the valuation method for its holdings in "Nohow Health" stock, effective from September 26, 2025 [1] - The valuation for the "Nohow Health" stock (stock code: 6606.HK) held by the Xingyin CSI Hong Kong Stock Connect Technology ETF (fund code: 513560) will be set at HKD 0.01 per share [1]

Report Industry Investment Rating No relevant content provided. Core Viewpoints - Important news: The total scale of domestic public funds in China has exceeded 36 trillion yuan for the first time; the returns of the first batch of new floating - rate funds are promising; the number of Science and Technology Innovation Board ETFs has exceeded 100 [2]. - Market review: Last week (from September 22, 2025, to September 26, 2025), the major broad - based indices in the A - share market showed an upward trend, while most overseas indices showed a downward trend [2]. - Fund market review: Half of the active equity funds achieved positive returns last week, with the median interval return of active equity funds at 0.38%. The cycle and manufacturing theme funds performed outstandingly [2]. - ETF fund statistics: The top three ETF categories in terms of performance last week were technology, commodity futures, and manufacturing theme ETFs. There were 435 ETFs with net capital inflows and 593 with net outflows [2]. - Fund market dynamics: 41 public funds had new fund managers last week; 61 public funds were newly established, with a total issuance share of 366.07 billion; 16 public funds entered the issuance stage for the first time; as of September 28, 2025, there were 68 public funds waiting to be issued [2]. - Equity fund issuance tracking: The issuance scale of equity funds last week reached 240.73 billion yuan, an increase of 17.15 billion yuan from the previous week. It is expected to bring incremental funds to industries such as electronics, power equipment and new energy, and computers [2]. Summary by Directory 1. Important News 1.1 Market Dynamics - The total scale of domestic public funds in China has exceeded 36 trillion yuan for the first time, with open - end funds being the main driving force for growth [7]. - The returns of the first batch of new floating - rate funds are promising, with an average return close to 13% [8]. - The largest money market fund, Yu'E Bao, has announced a fee reduction, which may drive other large - and medium - sized money market funds to follow suit [9]. 1.2 Product Hotspots - Xingzheng Global Fund has submitted an application for its first ETF, aiming to meet investors' diversified allocation needs [10]. - The first batch of index fund Y - shares has achieved excellent results, with 84 out of 85 funds achieving positive returns [11]. - The number of Science and Technology Innovation Board ETFs has exceeded 100, forming a multi - level index product system [11]. - The China Securities Index Company has officially released the CSI Smart - Selected Hangzhou Innovation 50 Index [12]. 1.3 Overseas/Overseas Markets - Goldman Sachs has reiterated its overweight view on China [13]. - Huaxia Fund (Hong Kong) has launched a new offshore RMB income bond fund [14]. 2. Market Review - Last week, the major broad - based indices in the A - share market showed an upward trend, while most overseas indices showed a downward trend. The electronics and non - ferrous metals industries had the highest increases [14][16]. 3. Fund Market Review 3.1 Active Equity Fund Performance - In the short - term, manufacturing and technology theme funds performed well; in the medium - and long - term, technology and manufacturing theme funds also had outstanding performance [20]. 3.2 Top - Performing Fund Performance Statistics - The top five active equity funds last week were mainly technology - themed funds, with Southern Information Innovation A ranking first [24]. 4. ETF Fund Statistics 4.1 ETF Fund Performance - The top three ETF categories in terms of performance last week were technology, commodity futures, and manufacturing theme ETFs [26]. 4.2 ETF Fund Capital Flow Statistics - Last week, the ETF categories with the largest net capital inflows were technology, bonds, and financial real estate, while the categories with the largest net outflows were strategy style, cycle, and others [29]. 4.3 ETF Fund Premium and Discount Statistics - As of September 26, 2025, the top three ETFs in terms of premium rate were Bosera CSI All - Share Free Cash Flow ETF, Huaxia Feed Soybean Meal Futures ETF, and Puyin AXA CSI A500 ETF [34]. 5. Fund Market Dynamics 5.1 Fund Manager Changes - Last week, 41 public funds had new fund managers, involving 32 fund managers from 23 fund management companies; 52 public funds had fund manager departures, involving 27 fund managers from 20 fund management companies [36][39]. 5.2 Newly Established Funds Last Week - 61 public funds were newly established last week, with a total issuance share of 366.07 billion. The largest number and the largest issuance share were from passive index funds [42]. 5.3 First - Time Issued Funds Last Week - 16 public funds entered the issuance stage for the first time last week, with the largest number being passive index funds [2]. 5.4 Funds Waiting to be Issued - As of September 28, 2025, there were 68 public funds waiting to be issued [2]. 5.5 Equity Fund Issuance Tracking - The issuance scale of equity funds last week reached 240.73 billion yuan, an increase of 17.15 billion yuan from the previous week. It is expected to bring incremental funds to certain industries [2].

数据显示，银华基金旗下1只基金重仓安集科技。科创100（588190）二季度持有股数41.59万股，占基 金净值比例为2%，位居第七大重仓股。根据测算，今日浮盈赚取约464.11万元。 9月29日，安集科技涨5%，截至发稿，报234.28元/股，成交13.27亿元，换手率3.51%，总市值394.89亿 元。 资料显示，安集微电子科技(上海)股份有限公司位于上海市浦东新区华东路5001号金桥综合保税区T6-5 幢，成立日期2006年2月7日，上市日期2019年7月22日，公司主营业务涉及关键半导体材料的研发和产 业化。 从基金十大重仓股角度 截至发稿，马君累计任职时间13年29天，现任基金资产总规模333.04亿元，任职期间最佳基金回报 144.61%， 任职期间最差基金回报-75.62%。 张亦驰累计任职时间4年129天，现任基金资产总规模77.81亿元，任职期间最佳基金回报53.59%， 任职 期间最差基金回报-35.59%。 责任编辑：小浪快报 科创100（588190）成立日期2023年9月6日，最新规模31.55亿。今年以来收益51.67%，同类排名 511/4221；近一年收益95.04%，同类排 ...

Group 1 - The market sentiment showed slight improvement last week, with the CSI A500 index reaching its highest level since March 1, 2022, and a cumulative increase of 39.63% over the past year, outperforming other core indices like CSI A50 and CSI A100 [1] - The A500 ETF by Huatai-PB (563360) has seen continuous net inflows for four consecutive trading days, accumulating a total of 2.377 billion yuan in inflows, bringing its fund size to 25.166 billion yuan, marking a historical high since its inception [1][4] - The A500 ETF's trading volume reached a new monthly high of 5.015 billion yuan on September 26, 2025, highlighting its significant scale and liquidity advantages [1] Group 2 - Citic Securities noted that liquidity may contract before the National Day holiday, but this is expected to be a "sentimental contraction," with potential for a "post-holiday rally" that could sustain gains due to favorable events coinciding with the holiday [2][3] - The A500 ETF employs an "industry-neutral + market capitalization selection" method, focusing on leading companies in sub-sectors, which may provide a comprehensive representation of core assets in the A-share market [3][4] - The A500 ETF has a low fee structure, with management and custody fees at 0.15% and 0.05% per year, respectively, making it one of the lowest in the A-share market [5][6]