Group 1 - Huachuang Yunjin (600155.SH) reported its Q3 2025 results on October 31, 2025, with 12 institutional investors holding a total of 831 million shares, representing 37.54% of the total share capital [1] - The top ten institutional investors collectively hold 37.53% of the shares, with a slight increase of 0.04 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, two funds increased their holdings, accounting for a 1.05% increase, while one fund saw a slight decrease in holdings [2] - A total of 125 public funds did not disclose their holdings this quarter, including several notable ETFs [2] Group 3 - MACD golden cross signals have formed, indicating positive momentum for certain stocks [3]

Core Viewpoint - The report highlights the performance and outlook of the CITIC Prudential Ruifeng 6-Month Mixed A Fund, indicating a profit of 1.5378 million yuan for 2024 and a net asset value growth rate of 6.05% [3][18]. Fund Performance - As of April 3, 2024, the fund's unit net value is 1.06 yuan, with a weighted average profit per fund share of 0.0479 yuan [3]. - The fund's net value growth rates are as follows: 0.07% over the last three months, 0.72% over the last six months, and 4.50% over the last year, ranking 549/670, 501/670, and 351/667 among comparable funds respectively [6]. - The fund's maximum drawdown since inception is 2.48%, occurring in Q4 2024 [13]. Fund Management and Strategy - The fund is managed by Yang Lichun, Ti Yuntao, and Liu Hongliang, who collectively manage three funds with positive returns over the past year [3]. - The average stock position since inception is 18.18%, with a peak of 24.34% at the end of Q3 2024 and a low of 10.14% at the end of Q1 2024 [17]. Fund Holdings and Turnover - As of December 31, 2024, the fund has 82 holders with a total of 1.1976 million shares, where management employees hold 100,100 shares, accounting for 8.36% [21]. - The fund's turnover rate over the last year is approximately 275.7%, consistently below the average of comparable funds [24]. - The top ten holdings include Kweichow Moutai, CATL, Industrial and Commercial Bank of China, Agricultural Bank of China, Ping An Insurance, Bank of China, China Merchants Jinling, Wuliangye, China Mobile, and China Construction Bank [26]. Economic Outlook - The fund management anticipates that the U.S. economy may experience rising inflation due to tariffs, while the European economy is expected to remain relatively weak. In contrast, domestic economic policies are expected to become more proactive, leading to a gradual recovery in economic confidence and stability [3].