Core Insights - The majority of ordinary stock funds in China have performed well in the first seven months of the year, with 92% of the 983 funds showing positive returns [1] - The top-performing fund, Huaan Medical Biotechnology, achieved a remarkable increase of over 105% [1] - The strong performance of these funds is largely attributed to their heavy investments in the pharmaceutical sector, with several stocks experiencing significant gains [2][3] Fund Performance - Huaan Medical Biotechnology Fund A and C led the performance with increases of 105.40% and 104.88% respectively, heavily investing in companies like Innovent Biologics and Stone Pharma [1] - Other notable funds include Jiashi Mutual Selection and Fortune Medical Innovation, which saw increases of 97.28% and 96.67% respectively, also focusing on pharmaceutical stocks [2] - Funds with over 80% growth include Ping An Medical Selected Stocks and Penghua Medical Technology Stocks, indicating a strong trend in the healthcare investment space [3] Underperforming Funds - Only seven funds experienced declines exceeding 10%, primarily in sectors like consumer goods, new energy, and technology [4] - The Minsheng Plus Silver Preferred Stock Fund saw a decline of 13.06%, with major holdings in companies like CATL and BYD [4] - Other funds with significant declines include Changxin Consumer Selected Quantitative Stocks and Beixin Ruifeng Preferred Growth, both heavily invested in the liquor sector [5]

Core Viewpoint - In the first five months of this year, 610 out of 999 comparable ordinary stock funds achieved positive performance, with a notable focus on biopharmaceutical-themed funds leading the gains [1][2]. Group 1: Performance of Funds - Biopharmaceutical-themed funds dominated the performance rankings, with top funds like Zhongyin Health Stock A and C, Penghua Pharmaceutical Technology Stock A and C, and Huaan Pharmaceutical Biotechnology Stock A and C showing significant increases of 56.21%, 55.95%, 53.93%, 53.67%, 52.83%, and 52.59% respectively [1][3]. - Zhongyin Health Stock's top ten holdings in Q1 included major pharmaceutical companies such as Heng Rui Pharmaceutical and Bai Li Tianheng, with some stocks like Rongchang Biotechnology doubling in value [1][2]. - Other funds like Jiashi Mutual Selection Stock A and C also reported impressive gains of 50.71% and 50.46%, respectively, despite not being biopharmaceutical-focused, as their top holdings were also in the pharmaceutical sector [2][3]. Group 2: Underperforming Funds - Funds focused on technology manufacturing, chips, new materials, and new energy significantly lagged, with declines such as 21.10% for Caitong Integrated Circuit Industry Stock C and 20.84% for Caitong Integrated Circuit Industry Stock A [3][4]. - The top holdings of these underperforming funds included companies like SMIC and Tencent, indicating a challenging environment for technology-focused investments in the current market [3][4]. Group 3: Fund Management Insights - Zhongyin Health Stock has been managed by Zheng Ning since 2022, who has extensive experience in pharmaceutical research and fund management [1][2]. - Penghua Pharmaceutical Technology Stock is managed by veteran Jin Xiaofei, who has nearly nine years of experience in the industry [2][3]. - Jiashi Mutual Selection Stock's manager, Hao Miao, has a strong background in biochemistry and has transitioned from research roles to fund management, contributing to the fund's performance [2][3].

Group 1 - In April, among 1016 comparable ordinary stock funds, 171 funds saw an increase in performance, 3 remained flat, and 842 experienced a decline [1][2] - The pharmaceutical and biopharmaceutical sectors emerged as the leading sectors, significantly boosting the performance of related thematic funds [1][2] - Notable funds with over 10% growth in April include Bank of China Health Stock A (12.65%), Bank of China Health Stock C (12.61%), and Penghua Pharmaceutical Technology Stock A (11.65%) [1][2] Group 2 - Bank of China Health Stock A and C's top ten holdings include major companies such as Heng Rui Medicine, Xin Nuo Wei, and Bai Li Tian Heng [1] - Penghua Pharmaceutical Technology Stock A and C, managed by veteran Jin Xiaofei, reported increases of 11.65% and 11.62% respectively, with significant holdings in companies like Nuo Cheng Jian Hua and Bai Ji Shen Zhou [2] - Hua An Pharmaceutical Biotechnology Stock A and C also performed well, with monthly growth rates of 10.91% and 10.88% [2] Group 3 - On the downside, nine ordinary stock funds fell over 10% in April, primarily in the consumer electronics and new energy sectors [3][4] - Minsheng Jia Yin Preferred Stock Fund recorded the largest decline at -13.71%, with major holdings including Haier Smart Home and BYD [3] - Other funds like Dongwu Double Triangle Stock A and C also faced significant declines of 11.09% and 11.14% respectively, largely due to their investments in new energy and internet platforms [4] Group 4 - HSBC Jin Trust Low Carbon Pioneer Stock A and C experienced declines of 10.07% and 10.11%, with all top holdings in new energy stocks [4] - The cumulative return of HSBC Jin Trust Low Carbon Pioneer Stock C since its inception is a loss of 58.24% as of April 30 [4] - The management of these funds includes experienced professionals with extensive backgrounds in research and investment [3][4]