Core Viewpoint - The article provides a ranking of open-end mutual funds based on their net asset value growth as of August 6, 2025, highlighting the top and bottom performers in the market [2][4][6]. Group 1: Top Performing Funds - The top 10 funds with the highest net value growth include: 1. Zhonghai Charm Yangtze River Delta Mixed Fund (3.1350) 2. Hengyue Smart Technology Mixed C Fund (1.1892) 3. Hengyue Smart Technology Mixed A Fund (1.1996) 4. Minsheng Jianyin Frontier Technology Mixed Fund (1.0201) 5. Tongtai Competitive Advantage Mixed A Fund (1.1032) 6. Tongtai Competitive Advantage Mixed C Fund (1.0802) 7. Furong Fuxin Mixed C Fund (2.1194) 8. Furong Fuxin Mixed A Fund (2.1560) 9. Hongyi Yuanfang Selected Mixed C Fund (1.1215) 10. Hongyi Yuanfang Selected Mixed A Fund (1.1231) [2][4]. Group 2: Bottom Performing Funds - The bottom 10 funds with the lowest net value growth include: 1. Guotai Innovation Medical Mixed Initiation C Fund (1.1799) 2. Guotai Innovation Medical Mixed Initiation A Fund (1.1901) 3. Wanjia Pharmaceutical Quantitative Stock Selection Mixed Initiation C Fund (1.2070) 4. Wanjia Pharmaceutical Quantitative Stock Selection Mixed Initiation A Fund (1.2165) 5. Morgan Stanley Youyue Anhe Mixed C Fund (0.6632) 6. Morgan Stanley Youyue Anhe Mixed A Fund (0.6727) 7. Hongde Medical Innovation Mixed Initiation A Fund (1.0426) 8. Hongde Medical Innovation Mixed Initiation C Fund (1.0274) 9. Guotai Growth Enterprise Board Medical Health ETF (1.2310) 10. Tianhong Medical Innovation A Fund (1.0690) [4][6]. Group 3: Market Overview - The Shanghai Composite Index showed a slight upward trend, with a trading volume of 1.75 trillion, and the number of advancing stocks was 3,357 compared to 1,817 declining stocks [6]. - Leading sectors included shipbuilding and general machinery, both rising over 3%, while the tourism sector experienced declines [6].

Market Overview - The Shanghai Composite Index rose by 0.43% to close at 3399.77 points, with a daily high of 3402.05 points [1] - The Shenzhen Component Index increased by 0.65% to close at 10250.14 points, reaching a high of 10280.83 points [1] - The ChiNext Index saw a rise of 1.07%, closing at 2061.29 points, with a peak of 2075.58 points [1] ETF Market Performance - The median return for stock ETFs was 0.48%, with the highest return from the Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Comprehensive ETF at 1.86% [2] - The top-performing industry index ETF was the China Tai Chi Next Board Pharmaceutical and Health ETF, yielding 3.5% [2] - The Tianhong Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drug Selection 50 ETF led the thematic index ETFs with a return of 4.36% [2] ETF Performance Rankings - The top three ETFs by return were: - Tianhong Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drug Selection 50 ETF (4.36%) - Fuguo China Securities Hong Kong-Shenzhen Innovative Drug Industry ETF (3.57%) - Guotai ChiNext Pharmaceutical and Health ETF (3.5%) [4][5] - The ETFs with the largest declines included: - ICBC Credit Suisse China Securities Hong Kong-Shenzhen Gold Industry ETF (-1.26%) - Ping An China Securities Hong Kong-Shenzhen Gold Industry ETF (-1.11%) - Huaxia China Securities Hong Kong-Shenzhen Gold Industry ETF (-0.89%) [4][5] ETF Fund Flows - The top three ETFs by fund inflow were: - Huaxia Shanghai 50 ETF (inflow of 1.484 billion yuan) - Huatai Baichuan Shanghai-Shenzhen 300 ETF (inflow of 615 million yuan) - Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF (inflow of 493 million yuan) [6][7] - The ETFs with the largest outflows included: - Fuguo China Securities Military Industry Leader ETF (outflow of 285 million yuan) - Yifangda Shanghai-Shenzhen 300 Pharmaceutical and Health ETF (outflow of 215 million yuan) - Huitianfu China Securities Major Consumption ETF (outflow of 189 million yuan) [6][7] ETF Margin Trading Overview - The top three ETFs by margin buying were: - Huaxia Shanghai Stock Exchange Science and Technology Innovation Board 50 Component ETF (546 million yuan) - Huatai Baichuan Shanghai-Shenzhen 300 ETF (512 million yuan) - Huaxia Shanghai 50 ETF (306 million yuan) [8][9] - The ETFs with the highest margin selling included: - Southern China Securities 500 ETF (52.67 million yuan) - Huatai Baichuan Shanghai-Shenzhen 300 ETF (7.77 million yuan) - Southern China Securities 1000 ETF (1.90 million yuan) [8][9] Institutional Insights - Changcheng Guorui Securities emphasizes focusing on innovation, identifying three investment opportunities: 1) Platform companies with dual-antibody/multi-antibody technology that can attract international giants 2) Areas with unmet clinical needs, such as advanced liver cancer and non-small cell lung cancer 3) License-out potential targets for domestic innovative pharmaceutical companies [10] - Guoyuan Securities continues to favor innovative drugs, overseas expansion, and the clearing of centralized procurement sectors, noting that China's innovative drugs are entering a stage of realization with significant R&D progress [10]

Market Overview - The Shanghai Composite Index fell by 0.18% to close at 3340.69 points, with a high of 3351.57 points during the day [1] - The Shenzhen Component Index decreased by 0.61% to 10029.11 points, reaching a peak of 10076.88 points [1] - The ChiNext Index dropped by 0.68% to 1991.64 points, with a maximum of 2001.62 points [1] ETF Market Performance - The median return of stock ETFs was -0.47% [2] - The highest performing scale index ETF was the Yinhua CSI 2000 Enhanced Strategy ETF with a return of 0.49% [2] - The highest performing industry index ETF was the China Tai Chi ChiNext Pharmaceutical and Health ETF with a return of 1.17% [2] - The highest performing strategy index ETF was the China Southern CSI Dividend Low Volatility ETF with a return of 0.34% [2] - The highest performing style index ETF was the China Merchants CSI Bank AH Price Preferred ETF with a return of 1.01% [2] - The highest performing theme index ETF was the China Tai Bai Rui CSI Hong Kong and Shanghai Innovative Drug Industry ETF with a return of 1.96% [2] ETF Performance Rankings - The top three ETFs by return were: - Huatai Bairui CSI Hong Kong and Shanghai Innovative Drug Industry ETF (1.96%) - Guotai CSI Hong Kong and Shanghai Innovative Drug Industry ETF (1.86%) - Tibet Dongcai CSI Hong Kong and Shanghai Innovative Drug Industry ETF (1.8%) [4] - The top three ETFs by decline were: - Fuquan ChiNext 50 ETF (-2.63%) - Ping An CSI Hong Kong and Shanghai Gold Industry ETF (-2.31%) - ICBC Credit Suisse CSI Hong Kong and Shanghai Gold Industry ETF (-2.29%) [4] ETF Fund Flows - The top three ETFs by fund inflow were: - E Fund ChiNext ETF (5.88 billion yuan) - Guolian An CSI All Index Semiconductor Products and Equipment ETF (4.01 billion yuan) - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 ETF (3.38 billion yuan) [6] - The top three ETFs by fund outflow were: - Huitianfu CSI Major Consumption ETF (1.4 billion yuan) - Huitianfu CSI Bank ETF (0.88 billion yuan) - Huatai Bairui CSI 2000 ETF (0.76 billion yuan) [6] ETF Margin Trading Overview - The top three ETFs by margin buying were: - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 ETF (3.89 billion yuan) - E Fund ChiNext ETF (3.7 billion yuan) - Huatai Bairui CSI 300 ETF (2.0 billion yuan) [8] - The top three ETFs by margin selling were: - Southern CSI 500 ETF (45.83 million yuan) - Southern CSI 1000 ETF (13.06 million yuan) - Huaxia CSI 1000 ETF (11.61 million yuan) [8] Institutional Insights - CITIC Securities noted that the ASCO conference is expected to reignite interest in innovative drugs, with several domestic companies showcasing excellent clinical data [9] - Open Source Securities indicated that the pharmaceutical sector is likely to return to stable growth, driven by innovation and increasing clinical demand due to aging populations [10][11]