Core Insights - The overall performance of brokerage asset management products in 2025 shows an average return of approximately 6.27%, with a median return of 3.13% for products that have been established for over a year [2] - The majority of these products are bond-type, accounting for over 70% of the total, with an average return of 3.33% in 2025 [2] - Equity-type products, although fewer in number, have demonstrated strong performance with an average return of 23.36% in 2025, largely due to a robust A-share market [3] Brokerage Asset Management Product Performance Equity Products - There are 29 equity-type products, with the top three performers being: 1. Huabao Huahong No. 1 2. CITIC Securities Zhisheng 500 Index Enhanced No. 1 3. Caida Growth No. 6 [3][4] - The performance threshold for the top 10 equity products is notably high, indicating strong competition among them [3] Mixed Products - Mixed-type products can allocate assets across various categories, with 377 products showing performance in 2025. The top five performers are: 1. Founder Intelligent Automobile No. 2 2. CITIC Securities Asset Management Xinghe No. 48 3. First Venture Fuxianrong No. 1 4. Caida Jingming No. 1 5. Dongfanghong Mingfeng No. 3 [6][7] FOF Products - FOF (Fund of Funds) products, which invest in other funds, have 360 products with the top five being: 1. Zheshang Wealth Xinhui Zhongzheng 1000 and Small Cap Enhanced FOF No. 1 2. Great Wall Selected Evolution FOF No. 1 3. CITIC Securities Wealth Selected Index Enhanced No. 1 FOF 4. Guojin Xinxing Citaoling No. 9 FOF 5. GF Asset Management Volume Increase No. 4 FOF [10][11] Bond Products - Bond-type products are the most numerous, with 2,198 products reported. The top five performers are: 1. First Venture Convertible Bond Flexible Allocation No. 1 2. Galaxy Stable Profit No. 20 3. Guotai Junan Junxiang Glory Jinbao 4. Huashan Securities Hengying No. 23 5. Huashan Securities Hengying No. 36M001 [13][15]

Core Insights - The performance of brokerage asset management products in the first three quarters of 2025 shows an average return of approximately 6.11% and a median return of 2.25% across 2669 products [1] - The most numerous category is bond-type products, with 1913 products yielding an average return of 2.51%, while stock-type products, though fewer in number (32), achieved an impressive average return of 23.30% due to strong A-share market performance [1] Summary by Category Stock-type Products - The top three stock-type asset management products for the first three quarters are: 1. CITIC Securities' "CITIC Securities Zhisheng 500 Index Enhanced No. 1" 2. Huabao's "Huahong No. 1" 3. Caida's "Caida Growth No. 6" [2][3] - The leading product, CITIC Securities Zhisheng 500 Index Enhanced No. 1, has a return exceeding ***% [3] Mixed-type Products - The top mixed-type asset management product is from Founder Securities, with the second place held by CITIC Securities [5][10] - There are 359 mixed-type products, with the top 20 yielding returns above ***% [5] FOF Products - The top five FOF products for the first three quarters include: 1. Zheshang's "Wealth Xinhui CSI 1000 and Small Cap Enhanced FOF No. 1" 2. CITIC Securities' "Wealth Selected Index Enhanced No. 1 FOF" [11] - The leading FOF product has a return exceeding ***% [11] Bond-type Products - The top five bond-type asset management products are: 1. First Entrepreneur's "Convertible Bond Flexible Allocation No. 1" 2. Galaxy's "Stable Earnings No. 20" [14][15] - The bond-type category has the highest number of products, totaling 1913, with the top 20 yielding returns above ***% [14]