Core Insights - 威尔药业 reported its Q3 2025 financial results, highlighting a total of 3 institutional investors holding shares, amounting to 16.4695 million shares, which represents 12.16% of the total share capital [1] - The institutional holding percentage decreased by 1.71 percentage points compared to the previous quarter [1] Institutional Investors - The institutional investors include 南京舜泰宗华创业投资合伙企业(有限合伙), 国泰基金管理有限公司-社保基金2103组合, and 国泰佳泰股票专项型养老金产品-招商银行股份有限公司 [1] - The total institutional holding percentage is now at 12.16% [1] Public Funds - A total of 23 public funds were disclosed this period, including 国泰聚优价值灵活配置混合A, 易方达易百智能量化策略混合A, and 广发百发大数据成长混合A [1] Social Security Funds - One social security fund, 国泰基金管理有限公司-社保基金2103组合, reported a decrease in holdings, with a reduction percentage of 0.31% [1]

Core Viewpoint - Yuan Dong Bio's stock price increased by 5% to 62.15 CNY per share, with a total market capitalization of 10.971 billion CNY as of the report date [1] Company Overview - Chengdu Yuan Dong Bio-Pharmaceutical Co., Ltd. was established on June 1, 2009, and went public on September 2, 2020. The company specializes in the research, development, production, and sales of chemical raw materials and chemical drug formulations [1] - The revenue composition of the company includes: 78.75% from formulation sales, 9.22% from raw material sales, 6.79% from technical services and transfers, 4.01% from CMO/CDMO, and 1.22% from other sources [1] Fund Holdings - The Guotou Ruijin Fund has a significant holding in Yuan Dong Bio, with the Guotou Ruijin Healthcare Mixed A Fund (000523) holding 98,300 shares, accounting for 2.96% of the fund's net value, making it the seventh-largest holding [2] - The fund has achieved a year-to-date return of 41.79%, ranking 1532 out of 8172 in its category, and a one-year return of 58.96%, ranking 2416 out of 7980 [2] Fund Manager Information - The fund manager of Guotou Ruijin Healthcare Mixed A Fund is Liu Zexu, who has been in the position for 2 years and 9 days. The total asset size of the fund is 198 million CNY, with the best return during his tenure being 39.66% and the worst being 24.38% [3]

Core Insights - The AI Fund Guotou Ruijin Healthcare Mixed A (000523) reported a profit of 7.8014 million yuan for Q2 2025, with a weighted average profit per fund share of 0.0565 yuan [2] - The fund's net value growth rate for the reporting period was 6.53%, and as of the end of Q2, the fund size was 121 million yuan [2] - The fund focuses on flexible allocation, primarily investing in pharmaceutical and healthcare stocks, with a unit net value of 1.004 yuan as of July 17 [2] Fund Performance - As of July 17, the fund's one-year cumulative net value growth rate was 31.01%, ranking 86 out of 133 comparable funds [3] - The fund's three-month cumulative net value growth rate was 15.57%, ranking 106 out of 138 comparable funds [3] - The fund's three-year cumulative net value growth rate was -12.05%, ranking 69 out of 106 comparable funds [3] Risk Metrics - The fund's three-year Sharpe ratio was -0.0788, ranking 71 out of 105 comparable funds [9] - The maximum drawdown over the past three years was 41.28%, with the largest single-quarter drawdown occurring in Q3 2022 at 29.67% [11] Investment Strategy - The fund manager indicated a continued increase in investment in the innovative drug sector, focusing on companies with high probability of business development (BD) and those with low expectations for BD in their valuations [2] - The fund maintains a significant allocation to non-innovative drug sectors, including research services, CXO, and medical devices [2] Fund Holdings - As of June 30, the fund's top ten holdings included companies such as Heng Rui Pharmaceutical, Kelun Pharmaceutical, and Zai Lab [19] - The average stock position over the past three years was 90.54%, compared to the industry average of 86.87% [14]