截至发稿，楼慧源累计任职时间7年79天，现任基金资产总规模43.33亿元，任职期间最佳基金回报 143.65%， 任职期间最差基金回报-21.86%。 数据显示，交银施罗德基金旗下1只基金重仓三生国健。交银医药创新股票A（004075）三季度增持 21.03万股，持有股数179.45万股，占基金净值比例为3.74%，位居第八大重仓股。根据测算，今日浮亏 损失约619.12万元。 交银医药创新股票A（004075）成立日期2017年3月23日，最新规模26.51亿。今年以来收益32.13%，同 类排名1165/4206；近一年收益29.31%，同类排名1461/4006；成立以来收益183.1%。 交银医药创新股票A（004075）基金经理为楼慧源。 11月27日，三生国健跌5.04%，截至发稿，报64.94元/股，成交3.50亿元，换手率0.85%，总市值400.54 亿元。 资料显示，三生国健药业(上海)股份有限公司位于中国(上海)自由贸易试验区李冰路399号，成立日期 2002年1月25日，上市日期2020年7月22日，公司主营业务涉及抗体药物的研发、生产及销售业务。主营 业务收入构成为：销售商品75.2 ...

Core Viewpoint - Sangfor Technologies experienced a 5.16% decline in stock price, closing at 53.89 CNY per share, with a trading volume of 2.27 billion CNY and a turnover rate of 0.66%, resulting in a total market capitalization of 33.239 billion CNY [1] Company Overview - Sangfor Technologies was established on January 25, 2002, and went public on July 22, 2020. The company is located in the China (Shanghai) Free Trade Zone [1] - The main business activities of Sangfor Technologies include the research, production, and sales of antibody drugs. The revenue composition is as follows: 75.24% from product sales, 15.37% from commissioned processing services, 7.94% from licensing services, and 1.44% from leasing services [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under Jiao Yin Schroder has a significant position in Sangfor Technologies. The Jiao Yin Medical Innovation Stock A (004075) reduced its holdings by 786,100 shares in the second quarter, retaining 1,584,300 shares, which accounts for 3.31% of the fund's net value, ranking as the tenth largest holding [2] - The Jiao Yin Medical Innovation Stock A (004075) was established on March 23, 2017, with a current scale of 2.5 billion CNY. Year-to-date returns are 42.95%, ranking 1149 out of 4221 in its category; the one-year return is 30.68%, ranking 1720 out of 3848; and since inception, the return is 206.28% [2] - The fund manager of Jiao Yin Medical Innovation Stock A is Lou Huiyuan, who has been in the position for 7 years and 30 days. The total asset size of the fund is 4.04 billion CNY, with the best return during the tenure being 167.44% and the worst being -15.88% [2]

Core Viewpoint - The announcement details the second dividend distribution for the year 2025 by the China Merchants Jinling Fund Management Co., Ltd. for its medical innovation equity fund, highlighting the distribution plan and relevant dates [1] Summary by Relevant Sections Dividend Distribution Details - The dividend distribution is based on the record date of September 9, 2025, with specific amounts allocated for different fund classes: - For the "交银医药创新股票A" fund (code: 004075), the net asset value is 2.85 yuan, and the dividend per 10 shares is 1.14 yuan - For the "交银医药创新股票C" fund (code: 014046), the net asset value is 2.93 yuan, with no specific dividend amount mentioned [1] Key Dates - The record date for shareholders to be eligible for the dividend is September 24, 2025 - The cash dividend payment date is set for September 26, 2025 - Shareholders opting for reinvestment will have their dividends converted into fund shares based on the net asset value after the ex-dividend date, with the reinvested shares available for inquiry and redemption starting September 26, 2025 [1] Tax and Fees - According to regulations from the Ministry of Finance and the State Administration of Taxation, the fund's income distributed to shareholders is temporarily exempt from income tax - There are no fees for the dividend distribution, and shareholders choosing reinvestment will also be exempt from subscription fees for the reinvested shares [1]

Core Insights - Sangfor Technologies saw a 5.25% increase in stock price, reaching 57.99 CNY per share, with a trading volume of 444 million CNY and a turnover rate of 1.30%, resulting in a total market capitalization of 35.767 billion CNY [1] Company Overview - Sangfor Technologies was established on January 25, 2002, and went public on July 22, 2020. The company is located in the China (Shanghai) Free Trade Zone [1] - The main business activities of Sangfor Technologies include research, production, and sales of antibody drugs. The revenue composition is as follows: 75.24% from product sales, 15.37% from commissioned processing services, 7.94% from licensing services, and 1.44% from leasing services [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under Jiao Yin Schroder has a significant position in Sangfor Technologies. The Jiao Yin Medical Innovation Stock A (004075) reduced its holdings by 786,100 shares, retaining 1,584,300 shares, which accounts for 3.31% of the fund's net value, ranking it as the tenth largest holding [2] - The Jiao Yin Medical Innovation Stock A (004075) was established on March 23, 2017, with a latest scale of 2.5 billion CNY. Year-to-date returns are 40.18%, ranking 359 out of 4222 in its category; over the past year, returns are 46.72%, ranking 1679 out of 3795; since inception, returns have reached 200.36% [2] - The fund manager, Lou Huiyuan, has been in the position for 6 years and 361 days, with total assets under management of 4.04 billion CNY. The best fund return during this period is 160.35%, while the worst is -21.93% [2]

Core Viewpoint - The article emphasizes that the current valuation of the China Medical Index (中证医疗) is at historically low levels, making it an opportune time for regular investment by ordinary investors [1]. Group 1: Market Analysis - The China Medical Index has experienced a significant adjustment period, with a peak in June 2015 and a low point at the end of 2018, followed by a recovery until the end of 2021, and has now been in a correction phase for approximately two years [5]. - The current adjustment has reached about 60% of its potential, indicating that the market may be nearing a bottom, although the duration of the adjustment is uncertain [5]. - A longer adjustment period is seen as beneficial for regular investors, as it allows for the accumulation of shares at lower prices, potentially leading to greater future gains [5]. Group 2: Investment Strategy - Ordinary investors are advised to focus on the Price-to-Book (PB) ratio for the China Medical Index, with a recommendation to start regular investments when the PB is below 20% [9]. - For more aggressive investors, a threshold of 25% to 30% is suggested for initiating investments [9]. - The article lists several actively managed medical-related funds that have been established for over six years and have a scale of over 500 million, highlighting their respective returns, with the top performer achieving a return of 178.62% since May 2017 [11]. Group 3: Fund Selection - The article provides a table of selected funds, showing their total returns and annualized returns over a period of approximately 6.2 years, with the best-performing fund yielding an annualized return of 18.00% [11]. - It emphasizes that despite current low valuations, all listed funds have positive long-term returns, suggesting that the issue lies more with the timing of investments rather than the funds themselves [12]. - The article advises investors to consider funds that have survived through market cycles and have demonstrated resilience [12].