Core Viewpoint - The public fund industry is transitioning from a "scale-oriented" approach to a "quality-first" strategy, emphasizing sustainable core competitiveness amidst challenges like homogenized competition and declining fee rates [1][13]. Group 1: Investment Strategy and Research Framework - The essence of active management lies in professional fundamental research to identify and hold high-potential growth companies for long-term capital appreciation [2]. - The company employs a "top-down" and "bottom-up" research framework, ensuring investment portfolios capture industry growth while selecting individual stocks for significant alpha returns [2][3]. - The investment team has established a modern research management system covering the entire process, emphasizing a professional talent structure and efficient collaboration [3]. Group 2: Investment Process and Technology Integration - The investment process is driven by a dual approach of "refinement and intelligence," integrating deep research with intelligent quantitative support systems [4][5]. - The company has developed a comprehensive fund manager tagging system to evaluate investment logic consistency and stability, enhancing decision-making [4]. - A "human-machine collaboration" investment model is employed to improve decision-making efficiency and accuracy, combining human insights with machine processing capabilities [5]. Group 3: Product Strategy and Market Positioning - The company focuses on a "boutique, professional, and differentiated" product strategy, concentrating resources on active investment capabilities in core areas like equity, absolute return, and quantitative strategies [6]. - The active equity funds cover mainstream sectors such as technology growth, consumer upgrades, and advanced manufacturing, with notable products achieving excellent long-term performance [6][8]. - The fixed income team emphasizes a "solid" investment style, aiming for positive asset value growth in various market conditions, with products receiving high ratings from authoritative agencies [8]. Group 4: Recent Developments and Future Outlook - The appointment of the new general manager, Fang Jing, is expected to bring fresh perspectives and drive strategic innovation in product development and resource integration [12][14]. - The company has achieved a weighted average return of 252.42% over the past seven years, ranking 7th among 118 public fund companies, demonstrating resilience and the ability to generate excess returns [12]. - The company is committed to expanding its FOF product line to meet the growing demand for retirement investment solutions, leveraging its strengths in fund evaluation and asset allocation [11].

Core Viewpoint - The article highlights the impressive performance of Xinda Aoya's funds, particularly the Xinao Performance-Driven Fund, which achieved a return of 141.95% year-to-date as of December 11, 2025, and 209.53% over the past two years, positioning it as a leader in the mixed equity fund category [1][3][4]. Group 1: Fund Performance - As of December 11, 2025, four funds have surpassed the 140% return mark, with Xinao Performance-Driven Fund leading at 141.95% [1]. - Xinda Aoya has multiple funds with returns exceeding 90% over the past two years, with two funds doubling their performance [1][2]. - The company’s equity products have shown a one-year return rate exceeding 80%, with three funds doubling their value [4]. Group 2: Strategic Transformation - In June 2025, Xinda Aoya was officially incorporated into the Central Huijin system, marking a significant strategic shift towards a "quality-driven" approach [2][8]. - The company is focusing on product innovation, research upgrades, and governance optimization to build a robust operational framework [2]. - The management team is committed to balancing short-term performance with long-term strategic positioning, aiming for a more resilient growth path [1][2]. Group 3: Investment Strategy - Xinda Aoya employs a dual strategy of active management and quantitative innovation, enhancing its competitive edge in a crowded market [8]. - The firm has expanded its business into "fixed income/fixed income+" strategies, quantitative methods, and FOFs to provide comprehensive asset allocation solutions [6][8]. - The introduction of the HAI (Human and Artificial Intelligence) platform aims to create a transparent and systematic approach to asset allocation and performance attribution [6][7]. Group 4: Management and Leadership - The recent appointment of Fang Jing as the new general manager signifies a transition in leadership, with a focus on leveraging his extensive experience across various financial sectors [9][10]. - Fang's background in asset management positions him well to continue the company's established investment strategies while exploring new product innovations and resource collaborations [9][10]. Group 5: Market Position and Growth - Xinda Aoya's assets under management have surpassed 110 billion yuan, ranking it among the top 60 firms in the industry, with a balanced structure between equity and fixed income [4]. - The company’s fixed income products have also performed well, with returns around 10% for certain funds [4].

Core Viewpoint - The performance competition among public funds is intensifying as the year-end approaches, with several funds achieving significant returns, particularly the Xinda Australia fund, which has seen a return of 141.95% year-to-date as of December 11, 2025, and 209.53% over the past two years, positioning it as a leader in the mixed equity fund category [1][3]. Group 1: Performance Highlights - As of December 11, 2025, four funds have surpassed the 140% return mark, with Xinda Australia leading at 141.95% year-to-date [1]. - Over the past two years, Xinda Australia has achieved a remarkable return of 209.53%, ranking second among all mixed equity funds [1]. - Other funds under Xinda Australia have also performed well, with five products achieving over 90% returns in the last two years, and two products doubling their performance [1]. Group 2: Strategic Developments - In June 2025, Xinda Australia underwent a significant restructuring by being incorporated into the Central Huijin system, which has provided the company with a stronger foundation for its "quality-driven" transformation [2][10]. - The company is focusing on product innovation, research upgrades, and governance optimization, which are all part of a cohesive strategy to enhance its resilience and depth in the market [2]. - The management team is committed to balancing short-term performance with long-term strategic positioning, aiming for a more stable and sustainable growth path [1][2]. Group 3: Investment Strategy - Xinda Australia is adopting a dual approach of equity and fixed income investments, which allows it to navigate market fluctuations effectively [3][4]. - The company’s fixed income segment has also seen positive results, with certain funds achieving around 10% returns over the past three years [4]. - The "absolute return" strategy, supported by a Human and Artificial Intelligence (HAI) platform, aims to provide transparent and systematic asset allocation, enhancing investor trust [7][8]. Group 4: Growth and Scale - By the end of Q3 2025, Xinda Australia’s asset management scale exceeded 110 billion yuan, placing it among the top 60 firms in the industry, with a balanced structure between equity and fixed income [5]. - The company has successfully maintained a balanced business structure, with equity assets surpassing 43 billion yuan and bond assets exceeding 20 billion yuan [5]. - The firm’s growth narrative is rooted in its commitment to professional research and development, which has led to multiple funds receiving high ratings from evaluation centers [6]. Group 5: Leadership Changes - The appointment of Fang Jing as the new general manager marks a significant transition in leadership, reflecting the company's evolution towards high-quality development [11][12]. - Fang Jing's extensive experience across various financial sectors positions him well to lead the company in its strategic initiatives and resource integration [11]. - This leadership change is indicative of the broader industry trend towards a more refined and responsible approach to asset management [12].