Group 1 - The A-share market has experienced significant growth over the past year, driven primarily by the technology sector, with major indices such as the North Exchange 50 Index and the Sci-Tech Innovation 50 Index showing substantial increases [1] - All 31 Shenwan first-level industry indices have risen, with telecommunications and electronics leading the gains, followed by computer, machinery, and media sectors, indicating a broad-based market rally [1] - The gaming industry is highlighted as a key area for AI technology application, with potential growth into a multi-billion or even trillion yuan market, prompting continued interest in gaming and media companies [1][2] Group 2 - The investment strategy of the company, termed the "new trend" investment framework, emphasizes capturing opportunities in both dividend and technology assets, utilizing a barbell strategy for portfolio allocation [2] - The current macroeconomic environment, characterized by low interest rates and loose monetary policy, enhances the attractiveness of high-dividend assets while also supporting the valuation of technology stocks [2] - The company focuses on dynamic investment perspectives, adapting to changes in both technology and dividend sectors, with an emphasis on cash flow and dividend growth [2] Group 3 - In stock selection, the company adheres to three core principles: clean balance sheets, high return on equity (ROE), and low valuations, ensuring financial quality remains a priority [3] - The investment philosophy is supported by a robust research team that enhances the company's ability to analyze macro trends and identify promising individual stocks through collaborative efforts [3] - The company has established a comprehensive research framework, including specialized teams for macro strategy, industry research, credit ratings, and quantitative analysis, facilitating effective information sharing and strategy alignment [3] Group 4 - The fund managed by the company, "Shangyin Future Life Flexible Allocation Mixed A," has shown impressive performance, with a net value growth rate of 86.97% over the past year, significantly outperforming its benchmark [4] - The fund's holdings reflect a proactive and flexible approach, with a notable shift in focus from electronics to media as the primary sector, aligning with market trends [4] - Future growth areas identified include gaming, electronic semiconductors, AI glasses, and tourism, while high-dividend low-valuation state-owned enterprises are also considered for investment [5]

Core Viewpoint - The company has achieved significant growth and stability in the asset management sector over the past twelve years, with a focus on innovation and long-term value creation for investors [1][2]. Performance and Growth - As of June 2025, the total assets under management reached 272.7 billion yuan, with public fund assets at 250.6 billion yuan, reflecting a year-on-year growth of 13% and a non-monetary management scale of 176.3 billion yuan, growing by 10% [2]. - The company has served over 6.45 million investors and generated a total profit of 42 billion yuan for its public fund products since inception [2]. Investment Performance - The company's equity and fixed income products have shown strong performance, with equity investments receiving a five-star rating for both three-year and five-year periods from Guotai Junan Securities [3]. - Specific funds such as the "Shangyin Future Life Flexible Allocation Mixed A" achieved a net value growth rate of 34.65% over the past year, significantly outperforming its benchmark [4]. - The "Shangyin New Emerging Value Growth Mixed A" has a cumulative net value growth rate of 236.82% since inception, ranking in the top 23% of its category over the past five years [4]. Fixed Income Investment - The fixed income funds have maintained a strong performance, with the company’s public fixed income products achieving a "zero default" record, showcasing excellent risk management capabilities [5]. - The "Shangyin Policy Financial Bond A" has consistently ranked in the top 1% for excess returns across multiple time frames [6]. Product Diversification - The company offers a diverse range of products, including 59 public fund products and 29 private asset management plans, covering various mainstream business areas to meet different investor needs [7]. - The investment strategy includes a dual-track approach for equity products, focusing on both value preservation and growth opportunities in emerging sectors [9]. Research and Talent - The company has established a comprehensive investment research framework, with a team of 56 professionals, 90% of whom hold master's degrees or higher, ensuring a strong foundation for investment decision-making [12]. - The research team effectively captures market trends and identifies investment opportunities, contributing to the company's strong performance in 2025 [13]. Social Responsibility - The company actively promotes rational investment concepts and engages in social responsibility initiatives, including educational support for underprivileged students and community service projects [15]. Future Outlook - As it enters its twelfth year, the company aims to continue its commitment to innovation and excellence in asset management, focusing on delivering superior performance and service to investors [16].

Core Viewpoint - The company has achieved significant growth and stability in the asset management sector over the past twelve years, with a focus on innovation and long-term value creation for investors [1][2]. Performance and Growth - As of June 2025, the total assets under management reached 272.7 billion yuan, with public fund assets at 250.6 billion yuan, reflecting a year-on-year growth of 13% [2]. - The company has served over 6.45 million investors and generated a total profit of 42 billion yuan for its public fund products since inception [2]. - The growth in scale is attributed to the strong performance of equity and fixed-income products, with equity investments receiving top ratings from Guotai Junan Securities [2][4]. Product Performance - The "Shangyin Future Life Flexible Allocation Mixed A" fund achieved a net value growth rate of 34.65% over the past year, significantly outperforming its benchmark [3]. - The "Shangyin Emerging Value Growth Mixed A" fund has a cumulative net value growth rate of 236.82% since inception, ranking in the top 23% of its category over the past five years [3]. - The "Shangyin Medical Health Mixed A" fund reported a net value growth rate of 57.49% in the past year, placing it in the top 8% of its category [3][21]. Fixed Income Investment - The fixed-income funds have consistently ranked in the top 10 for absolute returns over the past two years, showcasing the company's strong risk management capabilities [4]. - The "Shangyin Policy Financial Bond A" fund has excelled in excess returns across multiple time frames, receiving five-star ratings [5]. Diverse Product Offerings - The company offers a diverse range of products, including 59 public funds and 29 private asset management plans, covering various mainstream business areas [7]. - The equity segment focuses on value and growth strategies, while the fixed-income segment emphasizes stability and risk management [8][9]. Research and Talent - The company has established a comprehensive research and investment framework, with a dedicated team of 56 professionals, 90% of whom hold master's degrees or higher [11][12]. - The investment team has successfully identified key market trends, driving product performance through in-depth analysis of macro policies and fundamental factors [12]. Social Responsibility - The company actively promotes rational investment concepts and engages in social responsibility initiatives, including educational support for underprivileged students [13]. Future Outlook - As it celebrates its twelfth anniversary, the company aims to continue its commitment to innovation and excellence in asset management, focusing on high-quality development and investor trust [14].

Core Viewpoint - The recent trend of public fund managers sharing their real-time trading records on platforms like TianTian Fund is aimed at enhancing investor trust and promoting a long-term investment mindset [1][3][6]. Group 1: Fund Managers' Actions - Multiple fund managers, including Liu Junwen from Xinyuan Fund and Chen Bo from Shangyin Fund, have publicly shared their real-time trading activities, with investments ranging from tens of thousands to millions [1][2]. - Liu Junwen's fund combination, "Defensive Counterattack Win," achieved a market value of 1.1269 million yuan by July 4, after an additional investment of 300,000 yuan [2]. - Chen Bo's fund combination, "Left Hand Dividend Right Hand Technology," reported a return of 7.04% since its establishment, with total assets of 158,200 yuan [2]. Group 2: Transparency and Investor Engagement - The practice of fund managers sharing their real-time trading records is seen as a way to enhance transparency and reduce information asymmetry between fund managers and investors [3][6]. - This trend is linked to the new real-time trading feature introduced by TianTian Fund, which has attracted many fund managers to participate [3]. - The transparent operations of fund managers are believed to help investors develop a rational long-term investment perspective, especially during market fluctuations [1][6]. Group 3: Performance and Scale - The total amount of real-time trading shared by fund managers has exceeded 3.8 million yuan, with notable figures such as Yao Jiahong from Guojin Fund leading with a scale of 3.8 million yuan [4]. - Guotai Fund's Liang Xing reported a total amount of 1.2176 million yuan with a cumulative profit exceeding 200,000 yuan [4]. - Debang Fund's Lei Tao focused on semiconductor-themed funds, achieving a total amount of 1.5126 million yuan with nearly 300,000 yuan in cumulative profit [4].

Core Viewpoint - The recent trend of fund managers publicly sharing their real-time investment operations on platforms like TianTian Fund is aimed at enhancing investor trust and promoting a long-term investment mindset [1][4][8]. Group 1: Fund Managers' Actions - Multiple fund managers, including Liu Junwen from Xinyuan Fund and Chen Bo from Shangyin Fund, have begun to disclose their personal investment operations, with their own capital investments ranging from tens of thousands to millions [1][3]. - Liu Junwen's fund combination, "Defensive Counterattack Win," achieved a market value of 1.1269 million yuan after an initial investment of 300,000 yuan [3]. - Chen Bo's fund combination, "Left Hand Dividend Right Hand Technology," reported a return of 7.04% since its establishment, with total assets of 158,200 yuan [3]. Group 2: Performance Metrics - The highest reported real-time investment amount among fund managers is 3.8 million yuan, held by Yao Jiahong from Guojin Fund, focusing on quantitative products [6]. - Guotai Fund's Liang Xing reported a total investment of 1.2176 million yuan with a cumulative profit exceeding 200,000 yuan [6]. - Debang Fund's Lei Tao has a total investment of 1.5126 million yuan, with nearly 300,000 yuan in cumulative profit [6]. Group 3: Industry Insights - The trend of fund managers sharing their real-time operations is seen as a way to eliminate information barriers and enhance investor confidence, reflecting a long-term investment philosophy [4][8]. - The introduction of real-time sharing features by platforms like TianTian Fund has attracted many fund managers to participate, enhancing interaction with investors [4]. - Some fund companies emphasize that through "regular investment + real-time sharing," they aim to deepen the bond with investors and express confidence in the market [8].

Core Viewpoint - Recent actions by multiple public fund managers to disclose their real-time trading activities on the Tian Tian Fund platform have garnered market attention, indicating a trend towards transparency and long-term investment strategies in the industry [1][2]. Group 1: Fund Managers' Actions - Fund managers such as Liu Junwen from Xinyuan Fund and Chen Bo from Shangyin Fund have publicly shared their investment strategies and real-time performance, with Liu's portfolio reaching a value of 112.69 million yuan after an initial investment of 30,000 yuan [3]. - Chen Bo's portfolio, established in May, achieved a return of 7.04% with total assets of 15.82 million yuan as of July 4 [3]. - Ren Jie from Yongying Fund reported a remarkable return of 55.08% on his portfolio, which had total assets of 20.36 million yuan [4]. Group 2: Industry Trends - The trend of fund managers sharing their real-time trading activities is seen as a way to enhance investor trust and promote a long-term investment mindset, especially during market fluctuations [9]. - The introduction of real-time sharing features by platforms like Tian Tian Fund has encouraged more fund managers to participate, reflecting a shift towards greater transparency in the industry [4][9]. - Previous instances of fund managers showcasing their holdings on platforms like Ant Financial have also highlighted significant investments, with some managers holding over 1 million yuan in assets [5][6][7]. Group 3: Investor Engagement - The practice of fund managers sharing their real-time trading activities is viewed as a method to bind their interests with those of investors, fostering a sense of shared responsibility [3][4]. - Industry experts believe that this transparency can help eliminate information barriers and enhance investor confidence, promoting a culture of rational and long-term investing [9]. - However, there are concerns about the potential risks associated with this trend, including the possibility of it being misused as a marketing tool rather than a genuine effort to improve investor experience [8][9].