Company Overview - Jiangfeng Electronics experienced a decline of 5.02% on September 30, with a stock price of 101.72 CNY per share and a trading volume of 2.622 billion CNY, resulting in a turnover rate of 11.37% and a total market capitalization of 26.988 billion CNY [1] - The company, established on April 14, 2005, and listed on June 15, 2017, is located in the Ningbo Jiangfeng Electronic Materials Co., Ltd. in Yuyao City, Zhejiang Province, focusing on the research, production, and sales of high-purity sputtering targets [1] - The main business revenue composition includes ultra-high purity targets at 63.26%, precision components at 21.90%, and others at 14.84% [1] Fund Holdings - According to data from the top ten heavy stocks of funds, one fund under Huaxia Fund holds a significant position in Jiangfeng Electronics. The Huaxia Growth Enterprise Index Enhanced A (018370) held 56,600 shares in the second quarter, accounting for 2.86% of the fund's net value, ranking as the seventh-largest heavy stock [2] - The fund was established on September 18, 2023, with a latest scale of 51.4535 million CNY. Year-to-date returns stand at 49.2%, ranking 807 out of 4220 in its category, while the one-year return is 67.83%, ranking 767 out of 3846 [2] - The fund manager, Sun Meng, has a cumulative tenure of 5 years and 199 days, with a total asset scale of 10.461 billion CNY. The best fund return during his tenure is 129.69%, while the worst is 19.78% [2]

Summary of Key Points Core Viewpoint - Tianyi Medical (301097.SZ) reported a decrease in institutional investor holdings in its A-shares, with a total of 1.559 million shares held by seven institutions, representing 2.64% of the total share capital, down by 0.38 percentage points from the previous quarter [1]. Institutional Holdings - As of August 27, 2025, seven institutional investors disclosed their holdings in Tianyi Medical, totaling 1.559 million shares, which is 2.64% of the company's total equity [1]. - The institutional investors include notable funds such as China Merchants Bank - Penghua Hongjia Flexible Allocation Mixed Fund and China Construction Bank - Yuanxin Yongfeng聚优 Equity Fund [1]. - The total institutional holding percentage decreased by 0.38 percentage points compared to the previous quarter [1]. Public Fund Holdings - Two public funds reduced their holdings compared to the previous quarter, specifically Yuanxin Yongfeng Medical Health A and Yuanxin Yongfeng聚优 A, with a total reduction of 0.12% [1]. - One new public fund disclosed its holdings during this period, which is the Rongtong Health Industry Flexible Allocation Mixed A/B [1]. - One public fund, Penghua Quality Governance Mixed (LOF) A, was not disclosed in this quarter compared to the previous one [1].

Group 1 - The core viewpoint of the article is that Qiaoyuan Co., Ltd. (301286.SZ) reported a decline in institutional investor holdings in its A-shares, with a total of 9 institutions holding 7.676 million shares, representing 1.92% of the total share capital, a decrease of 2.00 percentage points from the previous quarter [1] Group 2 - As of August 26, 2025, the institutional investors include Shanghai Fengying Investment Center, Shanghai Panyao Asset Management, and others, with a total institutional holding ratio of 1.92% [1] - Three new public funds were disclosed this period compared to the previous quarter, including Huaxia Zhisheng Value Growth Stock A, Huaxia Growth Enterprise Index Enhanced A, and Huaxia CSI 800 Index Enhanced A [1] - One new foreign institution was disclosed this period, namely Hong Kong Central Clearing Limited [1]

Market Performance - As of May 16, 2025, the Shanghai Composite Index fell by 0.40% to 3367.46 points, while the Shenzhen Component Index decreased by 0.07% to 10179.60 points, and the ChiNext Index dropped by 0.19% to 2039.45 points, indicating a broad market decline [1] - The total trading volume of the two markets reached 1.09 trillion yuan [1] Sector Performance - The top three sectors with gains were passenger cars (up 2.28%), auto parts (up 1.95%), and jewelry (up 1.87%) [1] - The sectors with the largest declines were fisheries (down 2.27%), insurance (down 1.52%), and cosmetics (down 1.43%) [1] ETF Insights - The ChiNext ETF (Hua Xia, 159957) closed down 0.38% at a price of 1.33 yuan, with a trading volume of 31.1295 million yuan and a turnover rate of 1.83% [1] - Over the past week, the ChiNext ETF has seen a cumulative increase of 1.22% [1] - The fund's scale increased by 6.5786 million yuan over the past week, ranking third among comparable funds [1] Valuation Metrics - The ChiNext Index tracked by the ETF is currently at a historical low valuation, with a price-to-book (PB) ratio of 4.11, which is lower than 82.17% of the time over the past five years, indicating strong valuation attractiveness [1] Top Holdings - As of April 30, 2025, the top ten weighted stocks in the ChiNext Index accounted for 50.3% of the index, including companies like Ningde Times, Dongfang Wealth, and Mindray Medical [2]