Core Viewpoint - Baiao Intelligent (300836.SZ) reported its Q3 2025 results, highlighting a decrease in institutional investor holdings and changes in public fund participation [1] Institutional Holdings - As of October 27, 2025, three institutional investors disclosed holdings in Baiao Intelligent A-shares, totaling 7.5706 million shares, which represents 8.17% of the total share capital [1] - The institutional holding percentage decreased by 3.97 percentage points compared to the previous quarter [1] Public Fund Participation - In this period, 59 public funds were not disclosed compared to the previous quarter, including notable funds such as Bosera Value Growth Mixed and Wanji Zhizao Advantage Mixed A [1] Social Security Fund Changes - One social security fund, the National Social Security Fund 501 Portfolio, increased its holdings slightly in this period [1] - Conversely, the National Social Security Fund 103 Portfolio reduced its holdings, resulting in a small decline in its holding percentage [1]