Core Insights - Laplace (688726.SH) reported its Q3 2025 results on October 30, 2025, highlighting significant institutional investor interest with a total of 159 million shares held, representing 39.17% of the company's total equity [1] Institutional Holdings - As of October 29, 2025, nine institutional investors disclosed their holdings in Laplace, with a combined shareholding of 159 million shares, which is an increase of 0.03 percentage points compared to the previous quarter [1] - Notable institutional investors include Dalian Liancheng CNC Machine Co., Ltd., Anshi New Energy Materials (Shanghai) Co., Ltd., and several private equity and fund management partnerships [1] Public Fund Participation - The report indicates that there were 185 public funds that did not disclose their holdings in the current quarter, with notable funds including Changxin Quality Enterprise Mixed A, Penghua Sci-Tech Innovation Board New Energy ETF, and others [1]

Core Insights - Fund manager Lu Wenkai oversees two funds, with the best-performing fund being the China Merchants Rui Li LOF (161729), which achieved a quarterly net value increase of 9.33% as of Q3 2025 [1][2] Fund Performance Summary - The China Merchants Rui Li LOF (161729) has a scale of 9.39 billion yuan and an annualized return of 13.79%, with a Q3 increase of 9.33%. Its top holding is Greentown China (03900.HK), accounting for 8.02% of its net value [2] - The China Merchants Rui Li Flexible Allocation Mixed (LOF) C has a scale of 2.46 billion yuan, with a negative annualized return of -4.92% and a Q3 increase of 9.15%, also holding Greentown China at 8.02% [2] Historical Performance of Lu Wenkai - During Lu Wenkai's tenure as the manager of the Beixin Ruifeng Industrial Upgrade Fund (168501), the cumulative return was 151.33%, with an average annualized return of 27.34%. The fund made 58 adjustments to its heavy holdings, achieving a success rate of 60.34% with 35 profitable trades [2] - Notable stocks with significant returns include: - Jiangshan Opai: 357.30% return over a holding period of 1 year and 0 quarters [4] - Sanan Optoelectronics: 85.22% return over a holding period of 2 quarters [5] Underperforming Stocks - The fund also experienced losses with certain stocks, such as: - Chuangye Huikang: -48.11% return over a holding period of 1 year and 2 quarters, with a revenue decline of 6.84% [6] - Huayang International: -40.87% return over a holding period of 1 year [3]

Core Insights - The majority of stock and mixed funds achieved positive returns, with 91.29% reporting gains on July 8, 2023, and 41 funds exceeding a 5% return [1][2] - The Shanghai Composite Index rose by 0.70% to close at 3497.48 points, while the Shenzhen Component Index increased by 1.47%, and the ChiNext Index rose by 2.39% [1] - The top-performing sectors included telecommunications, electrical equipment, and electronics, with respective increases of 2.89%, 2.30%, and 2.27% [1] Fund Performance - The average net value growth rate for stock and mixed funds on July 8 was 0.99%, with 121 funds experiencing a net value decline of over 1% [1][2] - The fund with the highest net value growth rate was Yongying Technology Select Mixed Fund C, achieving a 6.19% increase, followed closely by Yongying Technology Select Mixed Fund A and Xinao Performance Driven Mixed Fund A, both at 6.18% and 6.03% respectively [2][3] - Among the funds with a net value growth rate exceeding 5%, 22 were equity funds, 11 were index equity funds, and 4 were flexible allocation funds [2] Decline in Fund Value - A total of 121 funds reported a net value decline, with the largest drop recorded by Great Wall Medical Care Mixed Fund C at -2.47% [2][4] - Other funds with significant declines included Great Wall Medical Care Mixed Fund A (-2.46%), Red Soil Innovation Medical Care Stock Fund (-2.43%), and Great Wall Health Mixed Fund C (-2.42%) [4][5] - The data indicates a concentration of declines in healthcare-related funds, particularly those managed by Great Wall Fund [4][5]