Group 1 - Zhongheng Electric (002364.SZ) released its semi-annual report for 2025 on August 21, 2025, indicating that as of August 20, 2025, 11 institutional investors disclosed holding A-shares of Zhongheng Electric, totaling 220 million shares, which accounts for 39.02% of the total share capital [1] - The top ten institutional investors include Hangzhou Zhongheng Technology Investment Co., Bank of China - Morgan Stanley Digital Economy Mixed Securities Investment Fund, Hong Kong Central Clearing Limited, and others, with the top ten investors collectively holding 39.01% of the shares, an increase of 0.32 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, there was an increase in holdings from one public fund, namely Morgan Stanley Digital Economy Mixed A, with an increase of 0.52% [2] - Three public funds reduced their holdings compared to the previous quarter, including Debon Xinxing Value A, Debon Fuxin A, and Jiahe Ruijin Mixed A, with a total reduction of 0.39% [2] - Four new public funds were disclosed this period, including Guoshou Anbao Low Carbon Economy Mixed A, Morgan Stanley Technology Leading Mixed A, Morgan Stanley Basic Industry Mixed, and Guoshou Anbao Jingchen 6-Month Holding Period Mixed A [2] - One new foreign institution disclosed this period, which is Hong Kong Central Clearing Limited [2]

Core Viewpoint - Zhongheng Electric has experienced a decline in stock price over four consecutive trading days, with a cumulative drop of -5.29% [1] Company Overview - Zhongheng Electric Co., Ltd. was founded in 1996 and listed on the Shenzhen Stock Exchange in March 2010. The company focuses on building a zero-carbon intelligent society and operates in the digital energy sector [1]. Financial Performance - Morgan Stanley Fund's "Morgan Stanley Digital Economy Mixed A" has entered the top ten shareholders of Zhongheng Electric, marking a new investment in the second quarter of this year. The fund has achieved a return of 15.60% year-to-date, ranking 1404 out of 4491 in its category [1]. Fund Manager Profile - The fund manager of Morgan Stanley Digital Economy Mixed A is Lei Zhiyong, who holds a master's degree in computer software and theory from Peking University. He has held various positions in telecommunications and fund management since joining Morgan Stanley in October 2014 [4][5].

Group 1 - Guanghe Technology (001389.SZ) released its 2024 annual report on April 1, 2025, indicating that as of March 31, 2025, 215 institutional investors disclosed holdings in Guanghe Technology A-shares, totaling 338 million shares, which accounts for 79.58% of the total share capital [1] - The top ten institutional investors include Guangzhou Zhenyun Investment Co., Ltd., Shenzhen Guangxie Investment Enterprise (Limited Partnership), and others, with a combined holding ratio of 77.28%, showing a decrease of 0.54 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, 202 new public funds were disclosed this period compared to the previous quarter, including major funds such as Morgan Stanley Digital Economy Mixed A and Xinao New Energy Industry Stock [2] - There were 16 public funds that were not disclosed this period, including Internet Leaders ETF and Huatai-PineBridge MSCI China A50 Connect ETF [2]