2025年10月25日，兆讯传媒(301102.SZ)发布2025年第三季报。截至2025年10月24日，共有6个机构投资 者披露持有兆讯传媒A股股份，合计持股量达3.16亿股，占兆讯传媒总股本的77.72%。其中，机构投资 者包括三六六移动互联科技有限公司、安信证券资管-农业银行-安信资管兆讯传媒高管参与创业板战略 配售集合资产管理计划、广发证券股份有限公司-博道成长智航股票型证券投资基金、泰康资产丰盈股 票型养老金产品-中国建设银行股份有限公司、中国工商银行股份有限公司-广发多因子灵活配置混合型 证券投资基金、广东盘古创展投资控股有限公司，机构投资者合计持股比例达77.72%。相较于上一季 度，机构持股比例合计上涨了0.21个百分点。 公募基金方面，本期较上一期持股增加的公募基金共计2个，包括博道成长智航股票A、广发多因子混 合，持股增加占比达0.68%。本期较上一季未再披露的公募基金共计65个，主要包括华夏智胜新锐股票 A、华夏国证自由现金流ETF、华夏智胜先锋股票(LOF)A、长城创业板指数增强发起式A、中欧小盘成 长混合A等。 ...

2025年10月24日，北路智控(301195.SZ)发布2025年第三季报。截至2025年10月23日，共有5个机构投资 者披露持有北路智控A股股份，合计持股量达1704.67万股，占北路智控总股本的12.91%。其中，机构 投资者包括中创智领(郑州)工业技术集团股份有限公司(原名称：郑州煤矿机械集团股份有限公司)、南 京路泰管理咨询合伙企业(有限合伙)、南京路兴管理咨询合伙企业(有限合伙)、南京北路智控科技股份 有限公司-第一期员工持股计划、华泰证券资管-招商银行-华泰北路智控家园1号创业板员工持股集合资 产管理计划，机构投资者合计持股比例达12.91%。相较于上一季度，机构持股比例合计下跌了2.82个百 分点。 公募基金方面，本期较上一季未再披露的公募基金共计115个，主要包括易方达新丝路混合、博道成长 智航股票A、华商信用增强债券A、融通互联网传媒灵活配置混合、中证2000等。 MACD金叉信号形成，这些股涨势不错！ ...

资料显示，山东山大鸥玛软件股份有限公司位于山东省济南市高新区伯乐路128号，成立日期2005年2月 25日，上市日期2021年11月19日，公司主营业务涉及考试与测评领域信息化产品的研究、开发、销售及 服务。主营业务收入构成为：无纸化考试与网上评卷服务86.95%，软件开发与技术支持服务9.78%，硬 件产品3.04%，其他业务0.23%。 从鸥玛软件十大流通股东角度 10月14日，鸥玛软件涨5.04%，截至发稿，报19.81元/股，成交9556.52万元，换手率3.51%，总市值 30.39亿元。 截至发稿，杨梦累计任职时间7年68天，现任基金资产总规模126.91亿元，任职期间最佳基金回报 177.89%， 任职期间最差基金回报-27.34%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，博道基金旗下1只基金位居鸥玛软件十大流通股东。博道成长智航股票A（013641）二季度 减持5000股，持有股数82.13万股，占流通股的比例为0. ...

Core Viewpoint - The recent controversy surrounding exclusive sales practices in the fund distribution industry, particularly involving China Merchants Bank (CMB), has raised questions about the fairness of sales channels and investor choice [1][2][4]. Fund Sales Practices - Several funds are reported to be "suspended for sale" on third-party platforms like Ant Financial and Tiantian Fund, while still available for purchase at CMB with standard fees [2][3]. - The phenomenon of exclusive sales is common in the fund industry, especially in a bank-dominated market [8][11]. - The new regulatory draft issued on September 5 aims to reform fund sales fee structures, potentially reducing the viability of exclusive sales practices [1][15]. Regulatory Changes - The new regulations propose to lower the maximum subscription fees for different fund types, which could diminish the profit margins for banks and encourage competition based on service rather than pricing [15][16]. - Industry insiders believe that the new rules will likely reduce the prevalence of exclusive sales and shift the focus towards service innovation among distribution channels [16][17]. Competitive Landscape - CMB's exclusive sales practices have been criticized as abnormal, with some funds only available through CMB while being unavailable on major platforms [4][6]. - The competition between CMB and internet platforms like Ant Financial is intensifying, with both sides employing different pricing strategies for fund sales [8][11]. - The operational costs associated with bank channels are higher, leading to a reluctance to offer discounts compared to internet platforms, which typically have lower costs [12][13]. Industry Dynamics - Fund companies face a dilemma in choosing sales channels, often having to decide between CMB and internet platforms based on product compatibility and market potential [9][10]. - The ongoing competition has led to a situation where fund companies may feel pressured to choose exclusive partnerships with banks or internet platforms, impacting their distribution strategies [10][11]. Future Outlook - The implementation of the new regulations is expected to create a more level playing field among distribution channels, potentially leading to a reduction in exclusive sales practices [16][17]. - The industry may see a shift towards enhanced service offerings and innovative solutions as channels adapt to the new regulatory environment and competitive pressures [17].

9月15日，横店影视涨5.18%，截至发稿，报18.88元/股，成交2.03亿元，换手率1.73%，总市值119.74亿 元。横店影视股价已经连续7天上涨，区间累计涨幅13.97%。 截至发稿，杨梦累计任职时间7年39天，现任基金资产总规模126.91亿元，任职期间最佳基金回报 168.42%， 任职期间最差基金回报-27.34%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，博道基金旗下1只基金位居横店影视十大流通股东。博道成长智航股票A（013641）二季度 新进十大流通股东，持有股数64.8万股，占流通股的比例为0.1%。根据测算，今日浮盈赚取约60.26万 元。连续7天上涨期间浮盈赚取142.56万元。 博道成长智航股票A（013641）成立日期2021年10月26日，最新规模9.99亿。今年以来收益42.97%，同 类排名679/4223；近一年收益91.36%，同类排名601/3803；成立以来收益41.97%。 博道成长智航 ...

Company Overview - Entropy Technology Co., Ltd. is located in Dongguan, Guangdong Province, established on December 14, 2007, and listed on August 17, 2022. The company specializes in biometric recognition technology, providing smart entrance management, identity verification, smart office products, and solutions as a national high-tech enterprise [1] - The main business revenue composition is as follows: Smart Space 73.84%, Smart Office 18.33%, Digital Identity Authentication 4.32%, Smart Business 3.11%, and Other Products 0.39% [1] Stock Performance - On September 5, Entropy Technology's stock rose by 5.54%, reaching a price of 32.39 CNY per share, with a trading volume of 207 million CNY and a turnover rate of 5.83%. The total market capitalization is 7.623 billion CNY [1] Shareholder Information - Among the top ten circulating shareholders of Entropy Technology, the Baodao Growth Zhihang Stock A Fund (013641) increased its holdings by 44,500 shares in the second quarter, holding a total of 491,100 shares, which accounts for 0.54% of the circulating shares. The estimated floating profit today is approximately 834,800 CNY [2] - The Baodao Growth Zhihang Stock A Fund was established on October 26, 2021, with a latest scale of 999 million CNY. Year-to-date returns are 33.15%, ranking 641 out of 4222 in its category; the one-year return is 75.29%, ranking 610 out of 3795; and since inception, the return is 32.22% [2] Fund Management - The fund manager of Baodao Growth Zhihang Stock A is Yang Meng, who has a cumulative tenure of 7 years and 29 days. The total asset scale of the fund is 12.691 billion CNY, with the best fund return during the tenure being 136.28% and the worst being -27.34% [3]

Group 1 - The core viewpoint of the news is that Huashi Technology (301218.SZ) reported its semi-annual results for 2025, revealing a total of 6 institutional investors holding shares, which amounts to 5.25% of the total share capital [1] - The total number of shares held by institutional investors is 5.9842 million, with a decrease of 0.16 percentage points compared to the previous quarter [1] - New public funds disclosed in this period include two funds: Dacheng CSI 360 Internet + Index A and Fortune CSI 2000 ETF, while four public funds were not disclosed in this period [1] Group 2 - The only new foreign institution disclosed in this period is BARCLAYS BANK PLC [2]

Summary of Key Points Core Viewpoint - 博硕科技 has reported a decrease in institutional ownership in its A-shares, with a total of 8 institutional investors holding 95.29 million shares, representing 56.22% of the total share capital, which is a decline of 0.53 percentage points from the previous quarter [1] Institutional Investors - The total number of institutional investors holding 博硕科技 A-shares is 8, with a combined holding of 95.29 million shares, accounting for 56.22% of the total share capital [1] - The institutional investors include notable entities such as 江苏摩锐投资有限公司, 大家人寿保险股份有限公司, and 中国工商银行股份有限公司 among others [1] - The institutional holding percentage has decreased by 0.53 percentage points compared to the last quarter [1] Public Funds - In the current period, 3 new public funds have disclosed holdings in 博硕科技, including 金鹰科技创新股票A and 鹏华双债加利债券A [1] - 2 public funds that were previously disclosed have not reported in this period, namely 博道远航混合A and 博道成长智航股票A [1] Social Security Funds - One social security fund, 汇添富基金管理股份有限公司-社保基金1802组合, has not disclosed holdings in this period compared to the previous quarter [1] Foreign Investment - One foreign fund, 香港中央结算有限公司, has reduced its holdings, with a decrease of 0.32% compared to the previous quarter [2]

Group 1 - The core viewpoint of the article is that Tongda Power (002576.SZ) has seen an increase in institutional investor holdings, indicating growing confidence in the company [1] - As of August 14, 2025, a total of 7 institutional investors hold shares in Tongda Power, with a combined holding of 53.6247 million shares, accounting for 32.48% of the total share capital [1] - The institutional holding ratio has increased by 3.26 percentage points compared to the previous quarter [1] Group 2 - Two new public funds have been disclosed this period, including Baodao Growth Intelligent Navigation Stock A and Baodao Yuanhang Mixed A [1] - Three new foreign institutions have disclosed holdings this period, including UBS AG, Goldman Sachs International - proprietary funds, and Barclays Bank PLC [1]

Company Overview - Shenzhen Jinbaize Electronics Technology Co., Ltd. focuses on electronic product research and hardware innovation, specializing in electronic interconnection technology, and aims to become a distinctive integrated service provider in electronic design and manufacturing [1] - The company's main products include printed circuit boards, electronic manufacturing services, and electronic design services [1] Stock Performance - Jinbaize has experienced a decline for five consecutive trading days, with a cumulative drop of -4.75% [1] - The fund "Bodao Growth Zhihang Stock A" has entered the top ten shareholders of Jinbaize and was newly added in the first quarter of this year [1] - The fund has achieved a year-to-date return of 22.56%, ranking 161 out of 989 in its category [1][2] Fund Management - The fund manager of Bodao Growth Zhihang Stock A is Yang Meng, who has a Master's degree in Economics and extensive experience in quantitative research and investment management [4][5] - Yang Meng has been with Bodao Fund Management Co., Ltd. since August 2017 and currently serves as the Director of Quantitative Investment and General Manager of the Quantitative Investment Department [4][5] Fund Performance Metrics - The fund has shown a year-to-date performance of 22.5%, with a quarterly performance of 10.28% and a three-month performance of 16.52% [2] - Compared to the average of its peers, which has a year-to-date return of 13.4%, Bodao Growth Zhihang Stock A has outperformed significantly [2]