Core Viewpoint - The article discusses a lawsuit against Guotou Ruijin Fund and fund manager Shi Cheng, initiated by an investor over a financial trust management contract dispute, with details of the case yet to be disclosed [1]. Company Overview - Guotou Ruijin Fund was established in 2002, originally named Zhongrong Fund Management Co., Ltd. It was acquired by Guotou Trust Investment Co., Ltd. and UBS Group in 2005, holding 51% and 49% of the shares respectively [2]. - As of September 30, 2025, Guotou Ruijin Fund has a management scale of 240.53 billion yuan and employs 32 fund managers [2]. Fund Manager Profile - Shi Cheng has a background as a researcher at China Jianyin Investment Securities Co., Ltd., and has held positions at various investment management firms before joining Guotou Ruijin Fund in March 2017. He has been a fund manager since March 29, 2019 [3]. - Under Shi Cheng's management, he oversees 12 funds, with a total scale of approximately 10.736 billion yuan. Six of these funds have underperformed compared to their peers [3]. Fund Performance - The two funds managed by Shi Cheng, Guotou Ruijin Industrial Transformation One-Year Holding Mixed A and C, have reported significant losses of 24.62% and 26.16% respectively as of December 25, 2025 [3]. - The top ten holdings of the fund include major companies such as Tencent Holdings, Alibaba, and Geely Automobile, indicating a diversified investment strategy across various sectors [4].

Group 1 - The core viewpoint of the article highlights the performance of stock and mixed funds, with 61.49% achieving positive returns on December 23, and 47 funds exceeding a 3% return [1][2] - The Shanghai Composite Index rose by 0.07% to close at 3919.98 points, while the Shenzhen Component Index increased by 0.27%, the ChiNext Index by 0.41%, and the STAR 50 Index by 0.36% [1] - Among the sectors, the top gainers included power equipment, building materials, and electronics, with increases of 1.12%, 0.88%, and 0.58% respectively [1] Group 2 - The top-performing fund, Dongwu Double Triangle Stock A, achieved a net value growth rate of 5.48%, followed closely by Dongwu Double Triangle Stock C and Guotou Ruijin Industry Upgrade Mixed C, both at 5.47% [2] - A total of 36 funds with a net value growth rate exceeding 3% belong to the equity-oriented category, while 6 are standard stock funds and 5 are flexible allocation funds [2] - The fund with the largest net value drawdown was Dongcai Economic Driven Mixed Initiation C, with a decline of 4.77% [2][4] Group 3 - The article provides a detailed ranking of funds based on their net value growth rates and drawdown percentages, showcasing various funds from different companies [2][4] - Notably, 8 funds from Guotou Ruijin Fund were among those exceeding a 3% return, while Yongying Fund and Huaxia Fund each had 4 funds listed [1][2] - The article also lists funds with significant drawdowns, including several ETFs related to satellite industries, which experienced declines around 4% [4][5]

Core Insights - The article provides an overview of the latest net asset value (NAV) rankings of open-end funds, highlighting the top and bottom performers in terms of growth [2][4]. Fund Performance Summary Top 10 Funds by NAV Growth - The top-performing funds include: 1. Guotou Ruijin Industrial Upgrade Two-Year Holding Mixed Fund C with a NAV of 1.0207, up by 4.15% 2. Guotou Ruijin Industrial Upgrade Two-Year Holding Mixed Fund A with a NAV of 1.0438, also up by 4.15% 3. Shenwan Hongyuan New Energy Vehicle Theme Flexible Allocation Mixed Fund A with a NAV of 2.3820, up by 4.02% 4. Shenwan Hongyuan New Energy Vehicle Theme Flexible Allocation Mixed Fund C with a NAV of 2.3720, up by 3.99% 5. Guotou Ruijin New Energy Mixed Fund C with a NAV of 2.2261, up by 3.98% 6. Guotou Ruijin New Energy Mixed Fund A with a NAV of 2.2810, also up by 3.98% 7. Huaxia New Materials Leading Mixed Fund A with a NAV of 0.8987, up by 3.85% 8. Huaxia New Materials Leading Mixed Fund C with a NAV of 0.8833, up by 3.84% 9. Guotou Ruijin Industrial Trend Mixed Fund A with a NAV of 0.9806, up by 3.84% 10. Guotou Ruijin Industrial Trend Mixed Fund C with a NAV of 0.9630, up by 3.84% [2][4]. Bottom 10 Funds by NAV Decline - The underperforming funds include: 1. Yongying High-end Equipment Smart Selection Mixed Fund C with a NAV of 1.1221, down by 4.64% 2. Yongying High-end Equipment Smart Selection Mixed Fund A with a NAV of 1.1376, also down by 4.64% 3. Huian Value Blue Chip Mixed Fund C with a NAV of 0.6992, down by 4.00% 4. Huian Value Blue Chip Mixed Fund A with a NAV of 0.7181, down by 3.98% 5. Great Wall Jiujia Innovation Growth Mixed Fund C with a NAV of 2.2055, down by 3.37% 6. Great Wall Jiujia Innovation Growth Mixed Fund A with a NAV of 2.6361, down by 3.37% 7. Ping An CSI Satellite Industry Index Fund A with a NAV of 1.1186, down by 3.24% 8. Ping An CSI Satellite Industry Index Fund C with a NAV of 1.1179, down by 3.24% 9. Southern CSI General Aviation Theme ETF Fund C with a NAV of 1.0429, down by 3.13% 10. Southern CSI General Aviation Theme ETF Fund A with a NAV of 1.0433, down by 3.12% [3][4]. Market Overview - The Shanghai Composite Index experienced a slight increase after a dip, closing with a trading volume of 1.92 trillion yuan. The number of advancing stocks was 1,512, while declining stocks numbered 3,856, with a limit-up to limit-down ratio of 68 to 15. Leading sectors included building materials and oil, while the hotel, restaurant, tourism, and aviation sectors saw declines exceeding 2% [6].