- The report does not contain any specific quantitative models or factors for analysis[1][2][3]

Core Viewpoint - The article provides an objective ranking of open-end fund net values, highlighting the top and bottom performers without subjective bias [1] Fund Performance Summary Top 10 Funds by Net Value Growth - The top-performing funds on January 26 include: 1. Guotou Ruijin Silver Futures (LOF) A with a net value of 2.9694 and a growth of 9.28% 2. Qianhai Kaiyuan Gold and Silver Jewelry Mixed A at 3.6140, up 8.76% 3. Qianhai Kaiyuan Gold and Silver Jewelry Mixed C at 3.5310, up 8.75% 4. Xibu Lide New Power Mixed A at 2.5821, up 8.26% 5. Xibu Lide New Power Mixed C at 2.5258, up 8.26% 6. Huafu Yongxin Flexible Allocation Mixed A at 2.5506, up 7.92% 7. Huafu Yongxin Flexible Allocation Mixed C at 2.4774, up 7.91% 8. Xibu Lide Strategy Preferred Mixed A at 1.4070, up 7.49% 9. Xibu Lide Strategy Preferred Mixed C at 1.3660, up 7.39% 10. Xibu Lide Industry Theme Preferred Mixed A at 1.7524, up 7.23% [2][4] Bottom 10 Funds by Net Value Growth - The funds with the lowest performance on January 26 include: 1. Qianhai Kaiyuan Ocean Mixed at 2.4390, down 7.19% 2. Ping An CSI Satellite Industry Index A at 1.3829, down 7.05% 3. Ping An CSI Satellite Industry Index E at 1.3829, down 7.05% 4. Ping An CSI Satellite Industry Index C at 1.3817, down 7.05% 5. Dongcai Economic Driven C at 1.8155, down 6.49% 6. Zhongjia Advantage Enterprise Mixed C at 2.0134, down 6.49% 7. Dongcai Economic Driven A at 1.8381, down 6.48% 8. Zhongjia Advantage Enterprise Mixed A at 2.1080, down 6.48% 9. Great Wall Emerging Industry Mixed C at 2.7558, down 6.32% 10. Great Wall Emerging Industry Mixed A at 2.7957, down 6.32% [3][4] Market Analysis - The Shanghai Composite Index opened high but experienced a slight decline, closing lower, while the ChiNext Index opened high and then fell, with a total trading volume of 3.28 trillion [6] - Leading sectors included non-ferrous metals, oil, coal, and insurance, all showing gains of over 2% [6] - Concepts such as gold and scarce resources, as well as biopharmaceuticals, saw increases exceeding 3% [6] - Conversely, sectors like aviation, public transportation, and electrical instruments faced declines of over 3% [7]

Core Insights - The article provides an overview of the latest net asset value (NAV) rankings of various funds, highlighting the top-performing and bottom-performing funds in the market [1] Fund Performance Summary Top 10 Funds by NAV Growth - The top-performing funds as of December 24 include: 1. Yongying High-end Equipment Intelligent Mixed Fund A (NAV: 1.2025, Growth: 7.17%) 2. Yongying High-end Equipment Intelligent Mixed Fund B (NAV: 1.2191, Growth: 7.16%) 3. Fangzheng Fubon Core Advantage Mixed Fund A (NAV: 1.1716, Growth: 5.55%) 4. Fangzheng Fubon Core Advantage Mixed Fund B (NAV: 1.1566, Growth: 5.55%) 5. Qianhai Kaiyuan Ocean Mixed Fund (NAV: 1.9630, Growth: 5.31%) 6. Jinxin Economic Preferred Mixed Fund B (NAV: 1.2725, Growth: 5.08%) 7. Jinxin Economic Preferred Mixed Fund A (NAV: 1.2835, Growth: 5.08%) 8. Great Wall Jiujia Innovation Growth Mixed Fund B (NAV: 2.3167, Growth: 5.04%) 9. Great Wall Jiujia Innovation Growth Mixed Fund A (NAV: 2.7690, Growth: 5.04%) 10. Huian Value Blue Chip Mixed Fund B (NAV: 0.7328, Growth: 4.81%) [2] Bottom 10 Funds by NAV Growth - The bottom-performing funds as of December 24 include: 1. Guotai Zhongzheng Livestock Breeding ETF Link Fund C (NAV: 0.7702, Decline: -1.29%) 2. Guotai Zhongzheng Livestock Breeding ETF Link Fund E (NAV: 0.7784, Decline: -1.29%) 3.招商中证畜牧养殖ETF联接A (NAV: 0.8785, Decline: -1.29%) 4. Guotai Zhongzheng Livestock Breeding ETF Link Fund A (NAV: 0.7806, Decline: -1.29%) 5. 招商中证畜牧养殖ETF联接C (NAV: 0.8649, Decline: -1.29%) 6. 华夏中证农业主题ETF发起联接A (NAV: 0.8521, Decline: -1.10%) 7. 华夏中证农业主题ETF发起联接C (NAV: 0.8436, Decline: -1.10%) 8. 华夏中证农业主题ETF发起联接D (NAV: 0.8436, Decline: -1.10%) 9. 西部利得新兴产业混合C (NAV: 1.8644, Decline: -1.09%) 10. 西部利得新兴产业混合A (NAV: 1.9057, Decline: -1.08%) [3] Market Overview - The Shanghai Composite Index showed a horizontal fluctuation with a slight rebound, closing with a small gain. The ChiNext Index exhibited a similar pattern. The total trading volume reached 1.89 trillion yuan, with a gain-loss ratio of 4128:1137 among individual stocks, and a limit-up-limit-down ratio of 86:6 [5] - Leading sectors included aviation, components, paper, chemical fiber, communication equipment, industrial machinery, and building materials, all with gains exceeding 2%. Notable concepts with gains over 3% included commercial aerospace, large aircraft, satellite navigation, carbon fiber, 6G concepts, and military information technology [5]

Core Viewpoint - Qianhai Kaiyuan Ding'an Bond Fund (002971) has appointed Liu Hong as the new fund manager, effective October 17, 2025, replacing Tian Wei, with the fund's net value at 1.3630 and a 6.32% increase over the past year [1]. Group 1: Fund Manager Changes - Liu Hong has been appointed as the fund manager for Qianhai Kaiyuan Ding'an Bond Fund, effective October 17, 2025 [1]. - Tian Wei will no longer serve as the fund manager as of the same date [1]. Group 2: Fund Performance - As of October 16, 2025, Qianhai Kaiyuan Ding'an Bond Fund's net value is 1.3630, reflecting a 6.32% increase over the past year [1]. - Liu Hong has managed several funds with varying performance, including: - Qianhai Kaiyuan Ocean Mixed Fund with a return of -30.60% [2]. - Qianhai Kaiyuan Dividend Rate 100 Strong Stock A with a return of 31.00% [2]. - Qianhai Kaiyuan Safety Mixed Fund with a return of 57.00% [2]. - Qianhai Kaiyuan Cycle Preferred Mixed A with a return of 54.55% [2]. - Qianhai Kaiyuan Cycle Preferred Mixed C with a return of 53.79% [2]. - Qianhai Kaiyuan Agricultural Mixed C with a return of -24.96% [2]. - Qianhai Kaiyuan Agricultural Mixed A with a return of -25.06% [2]. - The Qianhai Kaiyuan Safety Mixed Fund achieved an estimated return of 344.33% from the investment in Cambrian during the first quarter of 2024 [2].