Group 1 - The stock price of Zhaoyan New Drug (603127) increased by 16.95% this week, closing at 22.36 yuan, with a weekly high of 22.76 yuan and a low of 18.92 yuan [1] - Zhaoyan New Drug's current total market capitalization is 16.758 billion yuan, ranking 9th in the medical services sector and 950th among all A-shares [1] Group 2 - Zhaoyan New Drug announced its plan to invest up to 20 million yuan in the Huaxia Zhiyuan Venture Capital Fund, which has a target fundraising scale of 35 million yuan [2][4] - The fund will focus on equity investments in unlisted companies related to molecular diagnostics and targeted therapy, with a management fee of 1% per year based on the total capital contributions [2] - As of June 30, 2025, the legal registered capital of Zhaoyan New Drug's H-shares and A-shares remains unchanged at 118,995,206 shares and 630,482,128 shares, respectively [3][4]

Core Viewpoint - The establishment of specialized fund subsidiaries marks a significant step for public funds in enhancing their professional capabilities and achieving differentiated development in the wealth management sector [2][6][12]. Group 1: Establishment of Fund Subsidiaries - Recently, several fund subsidiaries have been approved, with some already launching their first business operations [2][12]. - On July 3, E Fund announced the establishment of its wholly-owned subsidiary, E Fund Wealth Management Fund Sales (Guangzhou) Co., Ltd., with a registered capital of 100 million RMB [4][6]. - The subsidiary will focus on buy-side investment advisory services, aiming to transition from a "single product supplier" to a "comprehensive wealth management service provider" [7][12]. Group 2: Investment Activities - 华夏基金 has partnered with listed companies 乐普医疗 and 昭衍新药 to establish the 华夏致远创业投资基金, with a total subscription amount of 35 million RMB [9][10]. - The fund will primarily invest in unlisted companies within the biomedicine sector, focusing on molecular diagnostics and targeted therapies [9][10]. - The manager of 华夏股权, 陈斌, has extensive experience in the medical field and investment, which is expected to enhance the fund's capabilities in the medical investment sector [10]. Group 3: Industry Trends - The trend of establishing specialized subsidiaries is seen across the industry, with multiple fund companies applying for various types of subsidiaries, including those focused on REITs and operational services [12][13]. - The establishment of these subsidiaries is expected to improve the comprehensive wealth management capabilities of fund companies, better serving the wealth management needs of Chinese residents [13].