Core Insights - Fund manager Yang Jinghan oversees two funds, with the best quarterly performance being Huatai Bairui Hongli Selected Mixed A (022153), which achieved a net value increase of 3.34% in the third quarter of 2025 [1] Fund Performance Summary - Huatai Bairui Hongli Selected Mixed C (022154) has a scale of 4.71 billion, with an annualized return of 32.78% and a quarterly increase of 3.24%, holding China Communications Construction (01800.HK) as its top stock at 5.00% [2] - Huatai Bairui Hongli Selected Mixed A (022153) has a scale of 0.48 billion, with an annualized return of 33.29% and a quarterly increase of 3.34%, also holding China Communications Construction at 5.00% [2] - During Yang Jinghan's tenure as manager of Huatai Bairui Multi-Strategy Mixed A (003175), the cumulative return was 27.07%, with an average annualized return of 5.8% and 74 adjustments in heavy stock positions, achieving a win rate of 58.11% [2] Heavy Stock Adjustment Cases - Example of stock adjustment for Jingjiawei (300474): bought in Q1 2016 and sold in Q2 2016, with an estimated return of 438.95% and a company profit growth of 18.36% during the holding period [4] - Example of stock adjustment for China Ping An (601318): bought in Q1 2017 and sold in Q4 2017, with an estimated return of 83.5% and a company profit growth of 42.78% during the holding period [5] - Example of stock adjustment for Sunshine City (000671): bought in Q4 2020 and sold in Q4 2021, with an estimated return of -45.06% and a company revenue decline of 48.25% during the holding period [6]