Core Insights - He Lin Micro-Nano (688661.SH) reported its Q3 2025 results, revealing that as of October 29, 2025, 10 institutional investors held a total of 14.0526 million shares, representing 9.25% of the company's total share capital [1] - The top ten institutional investors include notable entities such as Suzhou Heyang Management Consulting Partnership, Industrial and Commercial Bank of China, and several funds managed by Ping An [1] - Compared to the previous quarter, the total holding percentage of the top ten institutional investors decreased by 1.37 percentage points [1] Fund Holdings - Among public funds, only one fund, Jin Ying Core Resource Mixed A, increased its holdings, while two funds, Jin Ying National Emerging Mixed A and Jin Ying Small and Medium Cap Selected Mixed A, reported a slight decrease in holdings [2] - Two new public funds, Guangfa CSI 2000 ETF and Penghua Hongxin Mixed A, were disclosed this quarter [2] - A total of 132 public funds were not disclosed this quarter, including Jin Ying Dividend Value Mixed A and Huashang Selected Return Mixed A [2]

Group 1 - The core viewpoint of the news is that Zhen'an Technology (300767.SZ) reported its Q3 2025 results, highlighting a decrease in institutional ownership compared to the previous quarter [1] - As of October 28, 2025, four institutional investors hold a total of 55.2488 million shares of Zhen'an Technology, representing 20.00% of the total share capital, which is a decrease of 2.00 percentage points from the last quarter [1] - The newly disclosed public fund this period is the Zhonghai Quality Growth Mixed Fund, while 36 public funds were not disclosed compared to the previous quarter, including several notable funds [1] Group 2 - One social security fund was not disclosed this period, specifically the National Social Security Fund 118 Portfolio [1] - In terms of foreign investment, one new foreign institution disclosed this period, which is CITIC Securities Asset Management (Hong Kong) Limited - Client Funds [1]

Core Viewpoint - The stock of Youyan Powder Materials increased by 5.07% on September 16, reaching a price of 51.44 CNY per share, with a total market capitalization of 5.332 billion CNY [1] Company Overview - Youyan Powder Materials Co., Ltd. is located in Beijing and was established on March 4, 2004, with its listing date on March 17, 2021. The company specializes in the research, production, and sales of non-ferrous metal powder materials [1] - The revenue composition of the company includes: 59.04% from copper-based metal powder materials, 29.39% from microelectronics tin-based solder powder materials, 6.78% from other sources, 2.54% from electronic pastes, 1.48% from 3D printing powder materials, and 0.77% from other supplementary materials [1] Shareholder Information - Huashang Fund's Huashang Lexiang Flexible Allocation Mixed A Fund (001959) is among the top ten circulating shareholders of Youyan Powder Materials. In the second quarter, it reduced its holdings by 298,100 shares, maintaining 621,600 shares, which accounts for 0.6% of the circulating shares. The estimated floating profit today is approximately 1.5415 million CNY [2][4] - The fund was established on December 18, 2015, with a current scale of 612 million CNY. Year-to-date returns are 33.13%, ranking 2261 out of 8174 in its category; the one-year return is 92.22%, ranking 636 out of 7982; and since inception, the return is 173.04% [2] Fund Management - The fund manager of Huashang Lexiang Flexible Allocation Mixed A Fund is Yu Yi, who has been in the position for 3 years and 5 days. The total asset size of the fund is 5.867 billion CNY, with the best fund return during the tenure being 77.4% and the worst being 0.15% [3]

Core Viewpoint - Lixing Co., Ltd. (300421.SZ) reported a decline in institutional ownership in its semi-annual report for 2025, with a total of 3 institutional investors holding 4.8361 million shares, representing 1.64% of the total share capital, a decrease of 2.81 percentage points from the previous quarter [1] Institutional Investors - As of August 8, 2025, the total shares held by institutional investors decreased to 4.8361 million, accounting for 1.64% of Lixing's total share capital [1] - The institutional investors include China Construction Bank Co., Ltd. - Guoshou Anbao Smart Life Equity Fund, Hangzhou Yichen Private Fund Management Co., Ltd. - Hangzhou Chenyue No. 1 Private Securities Investment Fund, and Jinyuan Shun'an Xinyi Mixed Initiation A [1] - The overall institutional holding ratio fell by 2.81 percentage points compared to the previous quarter [1] Public Funds - One public fund, Guoshou Anbao Smart Life Equity A, increased its holdings slightly compared to the previous period [1] - A new public fund disclosed this period is Jinyuan Shun'an Xinyi Mixed Initiation A [1] - Three public funds that were previously disclosed did not report this period, including Huashang Zhenxuan Return Mixed A, Huashang Lexiang Internet Flexible Allocation Mixed A, and Ping An CSI 2000 Enhanced Strategy ETF [1] Foreign Investment - One foreign institution, BARCLAYS BANK PLC, did not disclose its holdings this period compared to the previous quarter [1]