Core Insights - Tianyi Ma (301178.SZ) released its Q3 2025 report on October 29, 2025, indicating a total of 3 institutional investors holding shares, amounting to 3.1482 million shares, which represents 4.71% of the total share capital [1] - The institutional holding ratio decreased by 5.91 percentage points compared to the previous quarter [1] Institutional Investors - The institutional investors include Nanjing Youzhi Investment Management Partnership (Limited Partnership), Nanjing Lesui Information Consulting Management Partnership (Limited Partnership), and Guangdong Tianyi Ma Information Industry Co., Ltd. - 2023 Employee Stock Ownership Plan [1] - The total institutional holding ratio stands at 4.71% [1] Public Funds - In this period, 12 public funds were not disclosed compared to the previous quarter, including notable funds such as Fidelity Renyuan Steady Three-Month Holding Mixed (FOF) A, Fidelity Low-Carbon Growth Mixed A, and others [1]

Group 1 - The core point of the news is that Debi Group (300947.SZ) reported its Q3 2025 results, highlighting significant institutional investor holdings [1] - As of October 28, 2025, a total of 10 institutional investors disclosed holdings in Debi Group A-shares, with a combined holding of 79.36 million shares, representing 52.51% of the total share capital [1] - The top ten institutional investors include notable firms such as Shanghai Zhongweizi Investment Management Co., Ltd. and Sunshine Property Insurance Co., Ltd., with their combined holding ratio decreasing by 1.62 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, there was an increase in holdings from one public fund, namely the Southern CSI All Share Real Estate ETF, with a slight rise in holding percentage [2] - Five public funds that did not disclose holdings in the current period include notable ETFs such as Huaxia CSI All Share Real Estate ETF and Southern CSI 2000 ETF [2]

Core Insights - Anuoqi (300067.SZ) released its Q3 2025 financial report on October 28, 2025, indicating a total of 80.4875 million A-shares held by institutional investors, representing 6.97% of the total share capital [1] - The institutional holding ratio increased by 0.07 percentage points compared to the previous quarter [1] - Four public funds were disclosed this period, including CSI 2000, Southern CSI 2000 ETF, Huaxia Growth Enterprise Comprehensive ETF, and Guotai CSI 2000 ETF [1] - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.11% compared to the last period [1]

外资态度来看，本期较上一期持股增加的外资基金共计1个，即香港中央结算有限公司，持股增加占比 达0.48%。本期较上一季未再披露的外资机构即BARCLAYS BANK PLC。 2025年10月28日，星星科技(300256.SZ)发布2025年第三季报。截至2025年10月27日，共有6个机构投资 者披露持有星星科技A股股份，合计持股量达12.06亿股，占星星科技总股本的53.14%。其中，机构投 资者包括浙江立马科技有限公司、萍乡范钛客网络科技有限公司、江西星星科技股份有限公司破产企业 财产处置专用账户、深圳众享出行科技有限公司、香港中央结算有限公司、星星集团有限公司，机构投 资者合计持股比例达53.14%。相较于上一季度，机构持股比例合计下跌了4.82个百分点。 公募基金方面，本期较上一季未再披露的公募基金共计7个，主要包括广发国证2000ETF、民生加银国 证2000指数增强A、天弘国证2000指数增强A、华夏创业板综合ETF、平安国证2000ETF等。 ...

- The Shenzhen Stock Exchange announced the revision of the "Compilation Plan for the ChiNext Composite Index" on July 11, 2025, introducing two exclusion mechanisms: monthly exclusion of risk warning stocks and ESG negative exclusion mechanism[3][6][11] - The monthly exclusion mechanism for risk warning stocks removes sample stocks that are announced to be under risk warning from the index starting from the next trading day after the second Friday of the following month. Stocks with risk warnings revoked are added back to the index under the same timeline[6][14] - The ESG negative exclusion mechanism removes sample stocks with ESG ratings downgraded to C or below from the index starting from the next trading day after the second Friday of the following month. Stocks with ESG ratings upgraded above C are added back to the index under the same timeline[6][14] - After the revision, the ChiNext Composite Index includes 1,316 sample stocks, covering 95% of ChiNext-listed companies and 98% of total market capitalization. The top three industries are industrials (32%), information technology (26%), and healthcare (12%). High-tech enterprises account for 92%, strategic emerging industries for 79%, and advanced manufacturing, digital economy, and green low-carbon sectors for 74%[6][11] - The monthly exclusion cycle enhances timeliness compared to the usual semi-annual index adjustment, while maintaining operational feasibility for passive products tracking the index[11] - Short-term impacts may include passive fund selling pressure on excluded stocks, while long-term effects could foster "survival of the fittest," encouraging listed companies to focus on financial stability and ESG performance, driving market valuation systems toward high-quality development[11]

外资态度来看，本期较上一季度新披露的外资机构有 1 家 ，即UBS AG。本期较上一季未再披露的外资 机构包括高盛公司有限责任公司、MORGAN STANLEY & CO. INTERNATIONAL PLC.、法国巴黎银 行-自有资金。 公募基金方面本期较上一季度持股减少的公募基金共计2个，包括国泰中证动漫游戏ETF、华夏中证动 漫游戏ETF，持股减少占比达0.43%。本期较上一季度新披露的公募基金共计14个，主要包括游戏动 漫、南方中证2000ETF、广发中证2000ETF、华夏创业板综合ETF、华夏中证2000ETF等。 2025年4月24日，天舟文化(300148.SZ)发布2024年年度报告。截至2025年4月23日，共有18个机构投资 者披露持有天舟文化A股股份，合计持股量达1.27亿股，占天舟文化总股本的15.17%。其中，前十大机 构投资者包括湖南佳创投资有限公司、中国民生银行股份有限公司-华夏中证动漫游戏交易型开放式指 数证券投资基金、UBS AG、上海浦东发展银行股份有限公司-国泰中证动漫游戏交易型开放式指数证券 投资基金、游戏动漫、南方中证2000ETF、广发中证2000ETF、华夏创业 ...