Core Insights - The A-share market has shown significant growth, with the Shanghai Composite Index surpassing the 4000-point mark for the third time in history, reaching a new high of 4025.70 points on October 30, 2023 [3] - The market sentiment is positive, as evidenced by the record high margin trading balance of 2.48 trillion yuan, with financing balance reaching 2.46 trillion yuan [3] - Over the past six months, equity-based wealth management products have performed well, with an average net value growth rate of 23.65%, and 36 products recording positive returns [5] Market Performance - The A-share indices have shown an upward trend over the last six months, with the ChiNext Index leading with a growth rate exceeding 67% [3] - Among the wealth management products, 22 out of 36 recorded net value growth rates above 20%, while some products had single-digit growth rates [5] - Notable performers include Everbright Wealth Management's "Sunshine Red New Energy Theme A" and Huaxia Wealth Management's "Tiangong Day Open Wealth Management Product No. 4 (New Energy Storage Index)" with growth rates of 69.68% and 52.74% respectively [5] Volatility and Future Outlook - Products with strong industry attributes also exhibited higher volatility, with annualized volatility rates for top-performing products reaching 28.07% and 26.69% [6] - Everbright Wealth Management's "Sunshine Red Enhanced 500 Index C" achieved a net value growth rate of 32.5% and is positioned for an index enhancement strategy [6] - Future market expectations indicate a potential for increased volatility in the fourth quarter, with a slow bull market supported by ample liquidity [6]

Core Viewpoint - The report highlights the performance of equity public financial products managed by various financial companies, showcasing significant growth rates and identifying key products that have outperformed the market in the past year [5][6]. Market Performance - Since October 9, 2025, A-share indices have shown a fluctuating pattern, with the Shanghai Composite Index hovering around 3900 points, while the Shenzhen Component and ChiNext indices experienced slight corrections [5]. - Over the past year, the ChiNext index has led with a nearly 39% increase, followed by the Shenzhen Component with over 23% and the Shanghai Composite with over 18% [5]. - Key sectors such as telecommunications, comprehensive, non-ferrous metals, electronics, and machinery have all seen increases exceeding 40% [5]. Product Performance - As of October 23, 2025, the average net value growth rate for equity public financial products is 23.69%, with 35 sample products recording positive returns [6]. - Among these, 18 products achieved net value growth rates exceeding 20%, while four products, including ICBC's and CMB's offerings, recorded single-digit growth rates [6]. - The ranking includes five financial companies, with Huaxia Wealth featuring six products, Everbright Wealth with three, and Xinyin Wealth with one [6]. - The top-performing product is Everbright Wealth's "Sunshine Red New Energy Theme A," which boasts a net value growth rate exceeding 76% over the past year [6][7]. - Huaxia Wealth's "Tian Gong Ri Kai Financial Product 4" and "Tian Gong Ri Kai Financial Product 9" also performed well, with growth rates of 42.97% and 35.55%, respectively [6][7]. Risk and Return Analysis - The maximum drawdown for the products in the ranking exceeds 10%, with Huaxia Wealth's "Tian Gong Ri Kai Financial Product 5" experiencing the highest drawdown of over 20% [8]. - Everbright Wealth's "Sunshine Red ESG Industry Selection" has the smallest maximum drawdown at 10.8% [8].

Market Performance - In Q3 2025, the A-share market showed strong performance, with the ChiNext Index rising over 50%, while the Shanghai Composite Index and Shenzhen Component Index increased by 12.73% and 29.25% respectively, marking the highest quarterly gains since April 2019 [4] - The total trading volume in the A-share market reached 139.24 trillion yuan in Q3 2025, with a cumulative total of 301.92 trillion yuan for the first three quarters, surpassing the total trading volume of 257.28 trillion yuan for the entire year of 2021, setting a new record for A-shares [5] Sector Performance - Among the 31 Shenwan industry indices, TMT-related sectors performed exceptionally well, with telecommunications, electronics, power equipment, and non-ferrous metals all seeing gains exceeding 40% [6] Product Performance - The hot market led to a positive performance for equity public funds in Q3, with an average net value growth rate of 16.02%. Out of 40 sample products, 12 had growth rates exceeding 20%, while only one product recorded a negative return [7] - The top-performing products were heavily focused on strong industry attributes, particularly in new energy, AI computing power, and new energy storage, with the top three products achieving growth rates of 51.78%, 46.55%, and 43.99% respectively [8] Notable Products - The "Tian Gong Ri Kai Financial Product No. 5 (AI Computing Power Index)" from Huaxia Wealth achieved a net value growth rate of 46.55% in Q3, ranking second on the list. This high-risk product had a significant annualized volatility of over 31% [9] - The "Bai Bao Xiang Stock Preferred Weekly Open No. 1" ranked fourth, with a diversified asset allocation including 52.60% equity assets and 32.27% in public funds. However, its past performance has shown negative returns for the years 2022, 2023, and 2024 [10]

Core Insights - The A-share market showed strong performance in Q3 2025, with the ChiNext Index rising over 50% and both the Shanghai Composite Index and Shenzhen Component Index achieving their highest quarterly gains since April 2019, with increases of 12.73% and 29.25% respectively [4] - The total trading volume in the A-share market reached a record high of 139.24 trillion yuan in Q3 2025, surpassing the total for the entire year of 2021 [6] - Equity wealth management products also performed well, with an average net value growth rate of 16.02% in Q3 2025, and 12 products exceeding a 20% growth rate [7] Market Performance - The A-share market experienced significant upward momentum from July 1 to September 30, 2025, with major indices reflecting strong growth [4] - The TMT sectors, including telecommunications, electronics, power equipment, and non-ferrous metals, led the market with gains exceeding 40% [6] Product Performance - The top-performing equity wealth management products in Q3 2025 were heavily focused on sectors like new energy, AI computing power, and new energy storage, with returns exceeding 40% [8] - Specific products such as "Sunshine Red New Energy Theme A" and "Hua Xia Wealth Management Tian Gong Ri Kai Product No. 5" achieved net value growth rates of 51.78% and 46.55% respectively [8] - The "Tian Gong Ri Kai Product No. 5" is classified as a high-risk product with significant volatility, showing a year-to-date return of -3.59% prior to Q3 [8] Asset Allocation - The "Bai Bao Xiang Stock Preferred Weekly Open No. 1" product has a diversified asset allocation, including 52.60% in equity assets and 32.27% in public funds [9] - Despite past negative returns from 2022 to 2024, the investment manager remains optimistic about the market's recovery potential due to ongoing economic transformation and increased funding sources [9]