Core Viewpoint - Zhimin Da (688636.SH) reported a decline in institutional investor holdings in its third-quarter report for 2025, with a total of 17.68 million shares held by five institutional investors, representing 10.55% of the total share capital, a decrease of 7.30 percentage points from the previous quarter [1] Institutional Holdings - As of October 23, 2025, five institutional investors disclosed holdings in Zhimin Da, totaling 17.68 million shares, which is 10.55% of the company's total share capital [1] - The institutional investor group includes notable entities such as Qiongcheng Zhihui Investment Partnership, Bank of China - GF Small and Medium Cap Selected Mixed Securities Investment Fund, and others [1] - The overall institutional holding percentage decreased by 7.30 percentage points compared to the previous quarter [1] Public Fund Holdings - One public fund, Changxin Jinli Trend Mixed A, increased its holdings during this period, with an increase ratio of 0.21% [1] - A total of 254 public funds did not disclose their holdings in this quarter, including funds like GF Technology Innovation Mixed A and others [1]

Core Viewpoint - Jingpin Special Equipment experienced a decline of 5.06% in stock price, closing at 81.30 CNY per share, with a total market capitalization of 6.151 billion CNY [1] Company Overview - Beijing Jingpin Special Equipment Technology Co., Ltd. was established on July 9, 2009, and went public on December 8, 2022. The company specializes in the research, production, and sales of optoelectronic reconnaissance equipment and military robots [1] - The revenue composition of the company includes: special robots (39.03%), intelligent manufacturing (23.71%), simulation and emulation (18.99%), intelligent sensing equipment (16.16%), technical services (2.10%), and others (0.02%) [1] Shareholder Information - Among the top ten circulating shareholders, a fund under China Europe Fund, specifically the China Europe Industry Outlook Mixed A (012390), entered the top ten in the second quarter, holding 880,000 shares, which accounts for 2.49% of circulating shares. The estimated floating loss today is approximately 3.8104 million CNY [2] - The China Europe Industry Outlook Mixed A fund was established on June 16, 2021, with a current scale of 1.466 billion CNY. Year-to-date returns are 13.27%, ranking 5226 out of 8159 in its category, while the one-year return is 12.08%, ranking 5040 out of 8030. Since inception, the fund has a loss of 27.17% [2] Fund Performance - The fund manager of China Europe Industry Outlook Mixed A is Li Shuai, who has a cumulative tenure of 10 years and 92 days. The total asset scale of the fund is 4.618 billion CNY, with the best fund return during his tenure being 101.5% and the worst being -29.42% [3] Major Holdings - The China Europe High-end Equipment Stock Initiation A (016847) fund has increased its holdings in Jingpin Special Equipment by 370,100 shares in the second quarter, now holding 500,100 shares, which constitutes 5.22% of the fund's net value. The estimated floating loss today is around 2.1652 million CNY [4] - This fund was established on November 14, 2022, with a current scale of 170 million CNY. Year-to-date returns are 23.55%, ranking 2152 out of 4218, while the one-year return is 15.34%, ranking 2776 out of 3875. Since inception, the fund has a return of 3.97% [4] Fund Manager Information - The fund manager of China Europe High-end Equipment Stock Initiation A is also Li Shuai, with the same cumulative tenure and asset scale as mentioned previously [5]

Core Viewpoint - Jingpin Special Equipment Co., Ltd. has seen a stock price increase of 5.08% to 94.28 CNY per share, with a market capitalization of 7.133 billion CNY, indicating strong market interest in the company [1] Company Overview - Jingpin Special Equipment, established on July 9, 2009, and listed on December 8, 2022, is located in Changping District, Beijing. The company specializes in the research, production, and sales of optoelectronic reconnaissance equipment and military robots [1] - The revenue composition of the company includes: special robots (39.03%), intelligent manufacturing (23.71%), simulation and emulation (18.99%), intelligent sensing equipment (16.16%), technical services (2.10%), and others (0.02%) [1] Shareholder Information - Among the top ten circulating shareholders, a fund under China Europe Fund, specifically the China Europe Industry Outlook Mixed A (012390), has entered the list, holding 880,000 shares, which is 2.49% of the circulating shares. The estimated floating profit today is approximately 4.0128 million CNY [2] - The China Europe Industry Outlook Mixed A fund was established on June 16, 2021, with a current scale of 1.466 billion CNY. Year-to-date returns are 14.6%, ranking 4977 out of 8161 in its category, while the one-year return is 20.06%, ranking 3851 out of 8015 [2] Fund Performance - The fund manager of China Europe Industry Outlook Mixed A is Li Shuai, who has been in the position for 10 years and 84 days. The total asset scale of the fund is 4.479 billion CNY, with the best fund return during his tenure being 101.5% and the worst being -26.19% [3][5] Top Holdings - Another fund under China Europe Fund, the China Europe High-end Equipment Stock Initiation A (016847), has increased its holdings in Jingpin Special Equipment by 370,100 shares, totaling 500,100 shares, which constitutes 5.22% of the fund's net value. The estimated floating profit today is around 2.2803 million CNY [4] - The China Europe High-end Equipment Stock Initiation A fund was established on November 14, 2022, with a current scale of 170 million CNY. Year-to-date returns are 29.54%, ranking 1525 out of 4220, while the one-year return is 27.02%, ranking 1772 out of 3857 [4]

Group 1 - The core viewpoint of the news is that Zhimin Da (688636.SH) has reported significant institutional investment, with 32 institutional investors holding a total of 29.29 million shares, representing 17.46% of the total share capital as of July 24, 2025 [1] - The top ten institutional investors collectively hold 16.29% of the shares, which is an increase of 1.29 percentage points compared to the previous quarter [1] - The report highlights the presence of various public funds, with three funds increasing their holdings and one fund decreasing its holdings, indicating a mixed sentiment among public investors [2] Group 2 - Among public funds, three funds increased their holdings, accounting for 1.92% of the total, while one fund saw a slight decrease [2] - A total of 26 new public funds were disclosed this period, including notable funds such as Changxin National Defense Military Industry Quantitative Mixed A and others [2] - One social security fund was not disclosed in this period, indicating a potential shift in investment strategy or focus [3]