Group 1 - The core viewpoint of the news is that Zhongdian Xindong (002298.SZ) has seen an increase in institutional and foreign investment holdings as of the third quarter of 2025, indicating growing confidence from investors [1][2] - As of October 28, 2025, a total of 7 institutional investors hold shares in Zhongdian Xindong, with a combined holding of 31.8718 million shares, representing 4.31% of the total share capital. This is an increase of 2.54 percentage points compared to the previous quarter [1] - The public funds that did not disclose holdings in the current period include 12 funds, primarily consisting of various index-enhanced funds related to the CSI 2000 and CSI 1000 [1] Group 2 - In terms of foreign investment, there are 2 foreign funds that increased their holdings compared to the previous period, with a total increase of 0.46% [2] - Four new foreign institutions disclosed their holdings this quarter, including Morgan Stanley & Co. International PLC, UBS AG, Merrill Lynch International, and J.P. Morgan Securities PLC [2]

Core Insights - The market has favored small-cap stocks this year, leading to strong performance from quantitative funds, with an average return of approximately 52% for over 500 quant funds established for more than a year, and only 14 funds reporting negative returns [2][3] Fund Performance - The Huatai-PB CSI 2000 Enhanced Index Fund has achieved a remarkable return of 104.57% over the past year, significantly outperforming its benchmark, which returned 31.82% [3] - The fund's holder count increased from 12,200 to 33,700, indicating strong market interest [4] Quantitative Strategy - The Huatai-PB team has developed short-term quantitative models tailored for small-cap indices like CSI 2000, which have shown success in recent market conditions [5][9] - The Huatai-PB CSI 2000 Enhanced Index A has delivered a year-to-date return of 47.63%, exceeding its benchmark by 15.87% [5] Model Development - The quantitative team has been cautious in deploying new strategies, ensuring that their short-cycle volume-price models are tested with proprietary funds before being applied to public offerings [9][10] - The combination of short-term and long-term quantitative models has allowed Huatai-PB to create a well-defined product matrix that caters to various market conditions [10][11] Market Trends - The small-cap sector, represented by the CSI 2000 index, has seen a cumulative increase of 81.26% since the market rally began in September 2024, outperforming larger indices [5] - The dual focus on capturing excess returns while adhering to investment discipline is crucial in a volatile market environment, positioning enhanced index funds as a significant component of long-term asset allocation [13]