Core Viewpoint - Hongyuan Green Energy's stock has experienced a significant decline, dropping 5.02% on November 21, with a total decrease of 14.93% over the past four days, indicating potential concerns regarding the company's performance and market sentiment [1]. Company Overview - Hongyuan Green Energy Co., Ltd. is located in Wuxi, Jiangsu Province, and was established on September 28, 2002. The company went public on December 28, 2018. Its main business involves the research, production, and sales of precision machine tools and monocrystalline silicon materials [1]. - The revenue composition of the company is as follows: 94.43% from the photovoltaic silicon industry chain, 3.64% from other supplementary businesses, and 1.93% from equipment and other operations [1]. Shareholder Analysis - Among the top ten circulating shareholders of Hongyuan Green Energy, a fund under Huatai-PB is notable. The Photovoltaic ETF (515790) reduced its holdings by 89,200 shares in the third quarter, now holding 4.6363 million shares, which represents 0.68% of the circulating shares. The estimated floating loss today is approximately 7.418 million yuan, with a total floating loss of 25.963 million yuan over the four-day decline [2]. - The Photovoltaic ETF (515790) was established on December 7, 2020, with a current scale of 13.976 billion yuan. Year-to-date returns are 29.61%, ranking 1485 out of 4208 in its category, while the one-year return is 15.34%, ranking 2703 out of 3972. Since inception, it has incurred a loss of 1.74% [2]. Fund Performance - The fund manager of the Photovoltaic ETF (515790) is Li Qian, who has been in the position for 6 years and 19 days, managing assets totaling 44.052 billion yuan. During her tenure, the best fund return was 84.41%, while the worst was -18.35% [3]. - Li Mu Yang, another fund manager, has been in his role for 4 years and 321 days, overseeing assets of 29.768 billion yuan. His best fund return during his tenure was 141.63%, with the worst being -37.33% [3]. Top Holdings - The Huatai-PB Fundamental Selection A Fund (007306) holds 141,600 shares of Hongyuan Green Energy, accounting for 4.31% of the fund's net value, making it the ninth-largest holding. The estimated floating loss today is about 22,660 yuan, with a total floating loss of 79,300 yuan over the four-day decline [4]. - The Huatai-PB Fundamental Selection A Fund was established on June 5, 2019, with a current scale of 5.10891 million yuan. Year-to-date returns are 18.98%, ranking 4156 out of 8136, while the one-year return is 17.34%, ranking 4058 out of 8056. Since inception, the fund has achieved a return of 50.3% [4]. Fund Manager Profile - The fund manager of Huatai-PB Fundamental Selection A Fund (007306) is Tan Xiao, who has been in the position for 2 years and 114 days, managing assets totaling 21.1 million yuan. During his tenure, the best fund return was 38.22%, while the worst was 22.77% [5].

Group 1 - The core viewpoint of the news is that Meichang Co., Ltd. has experienced a significant decline in stock price, dropping 5.02% on November 21, with a total market value of 9.916 billion yuan [1] - Meichang Co., Ltd. has seen its stock price fall for four consecutive days, with a cumulative decline of 5.24% during this period [1] - The company, established on July 7, 2015, specializes in the research, production, and sales of diamond wire for electroplating, with diamond wire accounting for 86.52% of its main business revenue [1] Group 2 - Among the top ten circulating shareholders of Meichang Co., Ltd., Huatai-PB Fund has increased its holdings in the photovoltaic ETF (515790) by 823,000 shares in the third quarter, now holding 3.0582 million shares, which is 0.72% of the circulating shares [2] - The photovoltaic ETF (515790) has a current scale of 13.976 billion yuan and has achieved a return of 29.61% this year, ranking 1485 out of 4208 in its category [2] - The fund managers, Li Qian and Li Mu Yang, have had varying performance records, with Li Qian achieving a best return of 84.41% and Li Mu Yang achieving a best return of 141.63% during their respective tenures [2]

Core Points - GCL-Poly Energy Holdings Limited's stock dropped by 5.05%, trading at 2.82 CNY per share with a total market capitalization of 16.498 billion CNY as of the report date [1] - The company, established on June 26, 2003, specializes in the research, production, and sales of crystalline silicon solar cells, with its main revenue sources being solar modules (92.38%), system integration packages (4.61%), solar cells (2.27%), and other sources (0.45%) [1] Shareholder Insights - Among the top ten circulating shareholders of GCL-Poly, a fund under Huatai-PB ranked first. The photovoltaic ETF (515790) reduced its holdings by 1.2635 million shares in the third quarter, now holding 53.2578 million shares, which is 0.91% of the circulating shares. The estimated floating loss today is approximately 7.9887 million CNY [2] - The photovoltaic ETF (515790) was established on December 7, 2020, with a current scale of 13.976 billion CNY. Year-to-date returns are 32.42%, ranking 1368 out of 4208 in its category, while the one-year return is 20.43%, ranking 2307 out of 3956 [2] Fund Management - The fund managers of the photovoltaic ETF (515790) are Li Qian and Li Mu Yang. As of the report date, Li Qian has been in position for 6 years and 17 days, managing assets totaling 44.052 billion CNY, with the best fund return during her tenure being 84.41% and the worst being -18.35% [3] - Li Mu Yang has been in position for 4 years and 319 days, managing assets of 29.768 billion CNY, with the best fund return during his tenure being 141.63% and the worst being -37.33% [3]

Core Points - GCL-Poly Energy has seen a stock price increase of 5.36% on November 14, reaching 3.34 CNY per share, with a trading volume of 1.839 billion CNY and a turnover rate of 9.84%, resulting in a total market capitalization of 19.54 billion CNY [1] - The stock has risen for five consecutive days, accumulating a total increase of 21.46% during this period [1] Company Overview - GCL-Poly Energy Technology Co., Ltd. is located at No. 28, Xinqing Road, Suzhou Industrial Park, Jiangsu Province, and was established on June 26, 2003, with its listing date on November 18, 2010 [1] - The company's main business involves the research, production, and sales of crystalline silicon solar cells, with revenue composition as follows: 92.38% from modules, 4.61% from system integration packages, 2.27% from battery cells, 0.45% from other sources, and 0.29% from power generation [1] Shareholder Information - Among the top ten circulating shareholders of GCL-Poly, a fund under Huatai-PB ranks first [2] - The photovoltaic ETF (515790) reduced its holdings by 1.2635 million shares in the third quarter, now holding 53.2578 million shares, which accounts for 0.91% of the circulating shares [2] - The ETF has generated a floating profit of approximately 9.0538 million CNY today and a total floating profit of 29.8244 million CNY during the five-day increase [2] Fund Manager Performance - The fund manager of the photovoltaic ETF (515790) is Li Qian, with a tenure of 6 years and 12 days, managing a total fund size of 44.052 billion CNY, achieving a best return of 88.03% and a worst return of -18.35% during her tenure [3] - Li Mu Yang, the co-manager, has a tenure of 4 years and 314 days, managing a fund size of 29.856 billion CNY, with a best return of 146.61% and a worst return of -37.05% during his tenure [3]

Core Viewpoint - Shangneng Electric experienced a 5.2% increase in stock price, reaching 46.96 CNY per share, with a trading volume of 1.987 billion CNY and a turnover rate of 11.33%, resulting in a total market capitalization of 23.678 billion CNY [1] Company Overview - Shangneng Electric Co., Ltd. is located at 6 Heyu Road, Huishan District, Wuxi City, Jiangsu Province, established on March 30, 2012, and listed on April 10, 2020 [1] - The company's main business involves the research, production, and sales of power electronic devices, with revenue composition as follows: photovoltaic inverters 72.20%, energy storage bidirectional converters and system integration products 25.64%, power quality governance products 1.19%, spare parts and technical services 0.85%, and others 0.12% [1] Shareholder Information - Among the top ten circulating shareholders of Shangneng Electric, a fund under Huatai-PB Fund holds a significant position. The photovoltaic ETF (515790) increased its holdings by 924,900 shares in the third quarter, totaling 3.4197 million shares, which represents 0.89% of the circulating shares. The estimated floating profit today is approximately 7.9336 million CNY [2] - The photovoltaic ETF (515790) was established on December 7, 2020, with a current scale of 13.976 billion CNY. Year-to-date returns are 39.19%, ranking 1204 out of 4216 in its category; the one-year return is 16.16%, ranking 2631 out of 3955; and since inception, the return is 5.52% [2] Fund Manager Performance - The fund managers of the photovoltaic ETF (515790) are Li Qian and Li Mu Yang. As of the report, Li Qian has a cumulative tenure of 6 years and 12 days, managing a total fund size of 44.052 billion CNY, with the best fund return during her tenure being 88.03% and the worst being -18.35% [3] - Li Mu Yang has a cumulative tenure of 4 years and 314 days, managing a total fund size of 29.856 billion CNY, with the best fund return during his tenure being 146.61% and the worst being -37.05% [3]

Core Insights - GCL-Poly Energy has seen a stock price increase of 5.11% on November 13, reaching 3.29 CNY per share, with a trading volume of 1.128 billion CNY and a turnover rate of 6.17%, resulting in a total market capitalization of 19.248 billion CNY. The stock has risen for four consecutive days, accumulating a total increase of 19.92% during this period [1] Company Overview - GCL-Poly Energy Technology Co., Ltd. is located at No. 28, Xinqing Road, Suzhou Industrial Park, Jiangsu Province, and was established on June 26, 2003. The company was listed on November 18, 2010. Its main business involves the research, development, production, and sales of crystalline silicon solar cells [1] - The revenue composition of GCL-Poly includes: 92.38% from modules, 4.61% from system integration packages, 2.27% from battery cells, 0.45% from other sources, and 0.29% from power generation [1] Shareholder Insights - Among the top ten circulating shareholders of GCL-Poly, a fund under Huatai-PB Fund ranks prominently. The photovoltaic ETF (515790) reduced its holdings by 1.2635 million shares in the third quarter, retaining 53.2578 million shares, which accounts for 0.91% of the circulating shares. The estimated floating profit today is approximately 8.5212 million CNY, with a total floating profit of 27.694 million CNY during the four-day increase [2] Fund Manager Performance - The fund manager of the photovoltaic ETF (515790) is Li Qian and Li Mu Yang. As of the report, Li Qian has a cumulative tenure of 6 years and 11 days, managing a total fund size of 44.052 billion CNY, with the best fund return during her tenure being 85.78% and the worst being -18.35% [3] - Li Mu Yang has a cumulative tenure of 4 years and 313 days, managing a total fund size of 29.856 billion CNY, with the best fund return during his tenure being 147.63% and the worst being -34.72% [3]

Group 1 - The core point of the news is that Meichang Co., Ltd. experienced a stock decline of 5.15%, with a current share price of 16.75 yuan and a total market capitalization of 11.253 billion yuan [1] - Meichang Co., Ltd. is primarily engaged in the research, production, and sales of diamond wire for electroplating, with 86.52% of its revenue coming from this segment and 13.48% from tungsten wire waste recycling [1] Group 2 - Among the top ten circulating shareholders of Meichang Co., Ltd., Huatai-PineBridge Fund holds a significant position, with its photovoltaic ETF (515790) increasing its holdings by 823,000 shares in the third quarter, totaling 3.0582 million shares, which represents 0.72% of the circulating shares [2] - The photovoltaic ETF (515790) has a current scale of 13.976 billion yuan and has achieved a year-to-date return of 42.04%, ranking 910 out of 4216 in its category [2] Group 3 - The fund managers of the photovoltaic ETF (515790) are Li Qian and Li Mu Yang, with Li Qian having a tenure of 6 years and 10 days and a total fund size of 44.052 billion yuan, achieving a best return of 88.23% during her tenure [3] - Li Mu Yang has a tenure of 4 years and 312 days with a fund size of 29.856 billion yuan, achieving a best return of 147.28% during his tenure [3]

Group 1 - The core viewpoint of the news is that Shangneng Electric has seen a significant increase in its stock price, rising by 5.12% to reach 35.14 CNY per share, with a trading volume of 1.47 billion CNY and a turnover rate of 11.38%, resulting in a total market capitalization of 17.718 billion CNY [1] - Shangneng Electric, established on March 30, 2012, and listed on April 10, 2020, specializes in the research, production, and sales of power electronic devices, with its main business revenue composition being 72.20% from photovoltaic inverters, 25.64% from energy storage bidirectional converters and system integration products, 1.19% from power quality governance products, 0.85% from spare parts and technical services, and 0.12% from other sources [1] Group 2 - Among the top ten circulating shareholders of Shangneng Electric, a fund under Huatai-PB Fund has increased its holdings in the photovoltaic ETF (515790) by 924,900 shares in the third quarter, bringing its total holdings to 3.4197 million shares, which accounts for 0.89% of the circulating shares, resulting in an estimated floating profit of approximately 5.8476 million CNY [2] - The photovoltaic ETF (515790) was established on December 7, 2020, with a latest scale of 13.976 billion CNY, achieving a year-to-date return of 32.15%, ranking 1471 out of 4216 in its category, and a one-year return of 13.42%, ranking 3001 out of 3901, with a return of 0.18% since inception [2]

Core Viewpoint - South Network Energy's stock price increased by 5.11% to 5.14 CNY per share, with a trading volume of 136 million CNY and a turnover rate of 0.72%, resulting in a total market capitalization of 19.47 billion CNY [1] Group 1: Company Overview - South Network Energy, established on December 29, 2010, and listed on January 19, 2021, is located in Tianhe District, Guangzhou, Guangdong Province [1] - The company primarily engages in energy-saving services, providing comprehensive energy-saving solutions including diagnosis, design, renovation, investment, and operation maintenance [1] - Revenue composition includes: Industrial energy-saving business (54.92%), Building energy-saving business (26.92%), Comprehensive resource utilization business (14.70%), Urban lighting energy-saving business (2.95%), Energy-saving consulting services (0.38%), Energy-saving renovation projects (0.11%), and Other businesses (0.03%) [1] Group 2: Shareholder Information - Huatai Bairui Fund has a fund among the top ten circulating shareholders of South Network Energy [2] - The photovoltaic ETF (515790) reduced its holdings by 30.98 million shares in the third quarter, holding 12.93 million shares, which accounts for 0.34% of circulating shares, with an estimated profit of approximately 3.23 million CNY [2] - The photovoltaic ETF was established on December 7, 2020, with a current scale of 13.98 billion CNY and a year-to-date return of 32.15%, ranking 1471 out of 4216 in its category [2]

Core Points - MicroGuide Nano's stock price decreased by 5.24% to 49.00 CNY per share, with a trading volume of 144 million CNY and a turnover rate of 2.83%, resulting in a total market capitalization of 22.597 billion CNY [1] Company Overview - Jiangsu MicroGuide Nano Technology Co., Ltd. was established on December 25, 2015, and went public on December 23, 2022. The company focuses on advanced micro and nano-scale film deposition technology and equipment, primarily serving the photovoltaic, integrated circuit, flexible electronics, and semiconductor industries [1] - The revenue composition of the company includes: 76.54% from photovoltaic equipment, 18.43% from semiconductor equipment, 3.07% from supporting products and services, and 1.89% from other sources [1] Shareholder Information - Among the top ten circulating shareholders of MicroGuide Nano, a fund under Huatai-PB ranks first. The photovoltaic ETF (515790) reduced its holdings by 2,746 shares in the second quarter, now holding 1.6032 million shares, which accounts for 1.58% of the circulating shares. The estimated floating loss today is approximately 4.3448 million CNY [2] - The photovoltaic ETF (515790) was established on December 7, 2020, with a current scale of 9.984 billion CNY. Year-to-date returns are 27.52%, ranking 1858 out of 4218 in its category, while the one-year return is 28.81%, ranking 2040 out of 3865. Since inception, it has incurred a loss of 3.33% [2] Fund Manager Performance - The fund managers of the photovoltaic ETF (515790) are Li Qian and Li Mu Yang. Li Qian has a tenure of 5 years and 349 days, managing assets totaling 39.351 billion CNY, with the best fund return during her tenure being 81.7% and the worst being -18.35% [3] - Li Mu Yang has a tenure of 4 years and 286 days, managing assets of 21.183 billion CNY, with the best fund return of 135.1% and the worst return of -41.62% during his tenure [3]