Group 1 - The core viewpoint of the news is that Zhongjie Automotive has seen a significant increase in its stock price, rising by 5.72% to reach 39.75 CNY per share, with a trading volume of 1.53 billion CNY and a turnover rate of 16.09%, resulting in a total market capitalization of 4.834 billion CNY [1] - Zhongjie Automotive, established on February 10, 2010, is located in Changshu, Jiangsu Province, and specializes in the research, production, and sales of precision components for automotive thermal management systems, with 89.17% of its revenue coming from this core business [1] Group 2 - From the perspective of fund holdings, one fund under Dongcai has Zhongjie Automotive as a significant investment, with the Dongcai ChiNext ETF holding 190 shares, ranking it as the seventh largest holding, and generating an estimated floating profit of approximately 408.5 CNY today [2] - The Dongcai ChiNext ETF was established on March 18, 2020, with a current size of 1.93 billion CNY, achieving a year-to-date return of 49.79%, ranking 656 out of 4216 in its category, and a one-year return of 43.35%, ranking 703 out of 3913 [2]

Core Viewpoint - The public fund industry is experiencing a significant reduction in fee rates, with over 200 funds lowering their rates this year, and more than 1000 products reaching the industry's lowest fee standards [1][2]. Group 1: Fee Reduction Trends - Multiple fund companies, including Southern Fund, Jianxin Fund, and CITIC Jian Investment, have announced fee reductions since June, showcasing a variety of fund types affected, including equity, mixed, bond, and money market funds [2][3]. - Specific examples of fee reductions include the management fee of the Dongcai Growth ETF dropping from 0.5% to 0.15%, and the management fee of the Southern Anyi Mixed Fund decreasing from 1% to 0.6% [2][3]. - A notable trend is the simultaneous reduction of both management and custody fees in some products, such as Jianxin Stable Growth Bond C, which saw its management fee cut from 0.7% to 0.3% and custody fee from 0.2% to 0.1% [3]. Group 2: Industry Impact and Future Outlook - The combination of "management fee 0.15% + custody fee 0.05%" is now considered the industry's lowest fee tier, with the number of related products increasing by 20% to 1008 since the beginning of the year [4]. - The fee reduction is expected to lower investors' holding costs, enhancing their engagement and participation in the market, while prompting fund companies to shift focus from high fee reliance to improving research capabilities and product innovation [4][5]. - The ongoing fee reform is a response to regulatory calls for lowering costs and is seen as a necessary step for the industry to prioritize investor interests [5][6]. Group 3: Competitive Strategies - Fund companies are encouraged to enhance their core competitiveness through improved research capabilities, with average management fees for bond funds at 0.857% and custody fees at 0.154% [6]. - The competition in the index fund sector is intensifying, with some management fees dropping to 0.15%, while active equity funds seek a balance between reasonable returns for managers and product attractiveness [6]. - Differentiated services, such as investment advisory and investor education, are crucial for fund companies to enhance competitiveness and build long-term trust with investors [7].