Group 1 - The core viewpoint of the news is that Beiningmei's stock has seen a significant increase of 5.06%, reaching a price of 6.64 yuan per share, with a trading volume of 707 million yuan and a turnover rate of 10.06%, resulting in a total market capitalization of 7.171 billion yuan [1] - Beiningmei Co., Ltd. is located in Hangzhou, Zhejiang Province, and was established on April 27, 1999. The company went public on April 12, 2011, and its main business involves the research, production, and sales of infant food and milk-based nutritional products [1] - The revenue composition of Beiningmei's main business includes: 89.20% from milk powder, 4.69% from other (supplement) products, 3.54% from rice cereal, 1.71% from supplies, and 0.86% from other categories [1] Group 2 - Tianhong Fund has a fund that ranks among Beiningmei's top ten circulating shareholders. The Tianhong CSI Food and Beverage ETF (159736) increased its holdings by 523,200 shares in the third quarter, bringing its total to 4.2728 million shares, which accounts for 0.4% of the circulating shares [2] - The Tianhong CSI Food and Beverage ETF (159736) was established on September 9, 2021, with a latest scale of 5.525 billion yuan. Year-to-date, it has incurred a loss of 2.85%, ranking 4175 out of 4217 in its category; over the past year, it has lost 10.67%, ranking 3870 out of 3918; and since its inception, it has lost 29.32% [2]

Core Insights - On November 5, Yuegui Co., Ltd. saw a stock price increase of 5.17%, reaching 16.47 CNY per share, with a trading volume of 805 million CNY and a turnover rate of 11.27%, resulting in a total market capitalization of 13.21 billion CNY [1] Company Overview - Yuegui Co., Ltd. was established on October 5, 1994, and listed on November 11, 1998. The company is based in Liwan District, Guangzhou, Guangdong Province [1] - The main business activities include the production and sale of refined sugar (white sugar, brown sugar), pulp (unbleached pulp, bleached pulp), and paper (cultural paper, specialty paper), as well as the mining, processing, and sale of sulfur iron ore, sulfuric acid, reagent acid (refined sulfuric acid), iron ore powder (sulfur iron ore slag), and phosphate fertilizer (ordinary calcium phosphate) [1] Revenue Composition - The revenue composition of Yuegui Co., Ltd. is as follows: sulfur concentrate 37.15%, refined sugar 21.46%, pulp 13.92%, others 7.53%, sulfuric acid 5.79%, iron ore powder 4.79%, silver powder 2.30%, phosphate fertilizer 1.89%, lump ore 1.40%, trading business 0.97%, -3mm ore 0.96%, cultural paper 0.67%, amino sulfonic acid 0.58%, reagent sulfuric acid 0.50%, and exported hand-picked ore 0.08% [1] Shareholder Information - Tianhong Fund has a fund that ranks among the top ten circulating shareholders of Yuegui Co., Ltd. The Tianhong CSI Food and Beverage ETF (159736) entered the top ten circulating shareholders in the third quarter, holding 1.5864 million shares, which accounts for 0.35% of the circulating shares [2] - The Tianhong CSI Food and Beverage ETF (159736) was established on September 9, 2021, with a current scale of 5.525 billion CNY. Year-to-date, it has incurred a loss of 2.82%, ranking 4173 out of 4216 in its category; over the past year, it has lost 2.94%, ranking 3840 out of 3901; since inception, it has lost 29.3% [2] Fund Management - The fund manager of Tianhong CSI Food and Beverage ETF (159736) is Sha Chuan, who has been in the position for 7 years and 294 days. The total asset scale of the fund is 27.922 billion CNY, with the best fund return during the tenure being 126.66% and the worst being -69.41% [3]

Core Points - On November 4, Yuegui Co., Ltd. experienced a decline of 5.02%, with a stock price of 15.52 CNY per share, a trading volume of 710 million CNY, a turnover rate of 9.83%, and a total market capitalization of 12.448 billion CNY [1] Company Overview - Yuegui Co., Ltd. was established on October 5, 1994, and listed on November 11, 1998. The company is based in Liwan District, Guangzhou, Guangdong Province [1] - The main business activities include the production and sale of refined sugar (white sugar, brown sugar), pulp (unbleached pulp, bleached pulp), and paper products (cultural paper, specialty paper), as well as the mining, processing, and sale of sulfur iron ore, sulfuric acid, reagent acid (refined sulfuric acid), iron ore powder (sulfur iron ore slag), and phosphate fertilizer (ordinary calcium phosphate) [1] - The revenue composition of the main business is as follows: sulfur concentrate 37.15%, refined sugar 21.46%, pulp 13.92%, others 7.53%, sulfuric acid 5.79%, iron ore powder 4.79%, silver powder 2.30%, phosphate fertilizer 1.89%, block ore 1.40%, trading business 0.97%, -3mm ore 0.96%, cultural paper 0.67%, amino sulfonic acid 0.58%, reagent sulfuric acid 0.50%, and exported hand-picked ore 0.08% [1] Shareholder Information - Tianhong Fund has a presence among the top ten circulating shareholders of Yuegui Co., Ltd. The Tianhong CSI Food and Beverage ETF (159736) entered the top ten circulating shareholders in the third quarter, holding 1.5864 million shares, which accounts for 0.35% of the circulating shares [2] - The Tianhong CSI Food and Beverage ETF (159736) was established on September 9, 2021, with a current scale of 5.525 billion CNY. Year-to-date, it has incurred a loss of 1.58%, ranking 4173 out of 4216 in its category; over the past year, it has lost 0.1%, ranking 3819 out of 3896; and since inception, it has lost 28.4% [2]

Core Insights - Longda Food (002726.SZ) reported its Q3 2025 results, revealing that as of October 30, 2025, 12 institutional investors held a total of 554 million shares, representing 51.31% of the company's total equity [1] - The top ten institutional investors collectively held 50.84% of the shares, but this marked a decrease of 4.56 percentage points compared to the previous quarter [1] Institutional Holdings - The top ten institutional investors include notable firms such as Blue Run Development Holdings Group, Laiyang Yinlong Investment, and Qindao Honghengya and Industry [1] - In the current period, two new public funds were disclosed, namely Dachen Jingheng Mixed A and Dachen Fengxiang Return Mixed A [1] - A total of 43 public funds were not disclosed in this period compared to the previous quarter, including major ETFs like Southern CSI 1000 ETF and Huaxia CSI 1000 ETF [1]

Group 1 - The core viewpoint of the news is that Baba Foods (605338.SH) reported its Q3 2025 results, highlighting the institutional investor holdings and changes in share ownership [1] - As of October 30, 2025, a total of 12 institutional investors disclosed holdings in Baba Foods A-shares, with a combined holding of 38.6751 million shares, representing 16.14% of the total share capital [1] - The top ten institutional investors collectively hold 16.05% of the shares, showing a decrease of 0.83 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, Huatai-PB Consumer Growth Mixed, increased its holdings by 0.13% compared to the previous period [2] - Two public funds, Changxin Rui Jin Mixed A and Changxin Shuangli Youxuan Mixed A, reported a slight decrease in holdings compared to the previous quarter [2] - Three new public funds disclosed their holdings this quarter, including Changxin Enterprise Preferred One-Year Holding Mixed, Changxin Enterprise Selected Two-Year Open Mixed, and Pengyang Jing Tian One-Year Holding Mixed A [2]

Core Viewpoint - On October 30, Yuegui Co., Ltd. experienced a stock price increase of 5.57%, reaching 16.50 yuan per share, with a trading volume of 415 million yuan and a turnover rate of 5.75%, resulting in a total market capitalization of 13.234 billion yuan [1] Company Overview - Yuegui Co., Ltd. was established on October 5, 1994, and listed on November 11, 1998. The company is located in Liwan District, Guangzhou, Guangdong Province. Its main business includes the production and sale of refined sugar (white sugar, brown sugar), pulp (unbleached pulp, bleached pulp), and paper products (cultural paper, specialty paper), as well as the mining, processing, and sale of sulfur iron ore, sulfuric acid, reagent acid (refined sulfuric acid), iron ore powder (sulfur iron ore slag), and phosphate fertilizer (ordinary calcium phosphate) [1] - The revenue composition of Yuegui Co., Ltd. is as follows: sulfur concentrate 37.15%, refined sugar 21.46%, pulp 13.92%, others 7.53%, sulfuric acid 5.79%, iron ore powder 4.79%, silver powder 2.30%, phosphate fertilizer 1.89%, lump ore 1.40%, trading business 0.97%, -3mm ore 0.96%, cultural paper 0.67%, amino sulfonic acid 0.58%, reagent sulfuric acid 0.50%, and exported hand-picked ore 0.08% [1] Shareholder Information - Tianhong Fund has a presence among the top ten circulating shareholders of Yuegui Co., Ltd. The Tianhong CSI Food and Beverage ETF (159736) entered the top ten circulating shareholders in the third quarter, holding 1.5864 million shares, which accounts for 0.35% of the circulating shares. It is estimated that the fund has made a floating profit of approximately 1.3802 million yuan today [2] - The Tianhong CSI Food and Beverage ETF (159736) was established on September 9, 2021, with a current scale of 5.525 billion yuan. Since the beginning of the year, it has incurred a loss of 2.68%, ranking 4179 out of 4216 in its category; over the past year, it has lost 1.45%, ranking 3825 out of 3885; and since its inception, it has lost 29.2% [2]

Core Insights - Andeli (605198.SH) reported its Q3 2025 results, revealing that as of October 29, 2025, eight institutional investors held a total of 223 million shares, representing 65.41% of the company's total equity [1] - The proportion of shares held by institutional investors decreased by 1.15 percentage points compared to the previous quarter [1] Institutional Holdings - The institutional investors include Donghua Fruit Industry Co., Ltd., Shandong Andeli Group Co., Ltd., Chengdu Unified Enterprise Food Co., Ltd., China Pingan Investment Holdings Limited, Guangzhou Unified Enterprise Co., Ltd., Yantai Xing'an Investment Center (Limited Partnership), Hong Kong Central Clearing (Agent) Co., Ltd., and the Basic Pension Insurance Fund 903 Combination [1] - The number of public funds that did not disclose holdings this quarter totaled 42, including Southern Core Growth Mixed A, Southern Innovation Growth Mixed A, Southern Preferred Value Mixed A, Tianhong CSI Food and Beverage ETF, and Southern Innovation Selected One-Year Open Mixed Initiation A [1] Foreign Investment - One foreign fund, Hong Kong Central Clearing (Agent) Co., Ltd., reduced its holdings compared to the previous quarter, with a slight decrease in shareholding percentage [2] - A new foreign institution, Donghua Fruit Industry Co., Ltd., was disclosed this quarter, while the same institution was not reported in the previous quarter [2]

Core Viewpoint - Shuanghui Development (000895.SZ) reported its Q3 2025 results, highlighting significant institutional investor interest with 64 institutions holding a total of 2.804 billion shares, representing 80.92% of the total share capital [1] Institutional Investors - The top ten institutional investors collectively hold 79.73% of Shuanghui Development's shares, with a slight increase of 0.13 percentage points from the previous quarter [1] Public Funds - In the current period, 20 public funds increased their holdings, with notable funds including Southern S&P China A-share Large Cap Dividend Low Volatility 50 ETF and Huatai-PB CSI 300 ETF, resulting in an increase of 0.31% in holdings [2] - Conversely, 22 public funds reduced their holdings, including funds like E Fund CSI 300 ETF and Huatai-PB CSI 300 ETF, leading to a decrease of 0.19% [2] - There were 15 new public funds disclosed this period, while 524 funds from the previous quarter were not disclosed [2] Insurance Capital - One insurance company, China Life Insurance (Group) Company, increased its holdings, while another, China Life Insurance Co., Ltd., saw a slight decrease in holdings [3] Foreign Investment - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.41% in the current period [3]

Core Viewpoint - Jia Bi You (688089.SH) reported a decline in institutional ownership in its third-quarter report for 2025, with a total of 76.58 million shares held by two institutional investors, representing 45.50% of the total share capital, a decrease of 3.71 percentage points from the previous quarter [1] Institutional Ownership - As of October 27, 2025, there are two institutional investors holding shares in Jia Bi You, including Wuhan Xiwang Biological Engineering Co., Ltd. and Ruizhong Life Insurance Co., Ltd. - proprietary funds [1] - The total institutional ownership has decreased by 3.71 percentage points compared to the previous quarter [1] Public Fund Participation - In this reporting period, 102 public funds were disclosed, including notable funds such as Huaxia Stable Growth Mixed Fund, Penghua Quality Governance Mixed (LOF) A, and Tianhong CSI Food and Beverage ETF [1] Insurance Capital Changes - There was a slight increase in holdings from insurance capital, with one insurance investor, Ruizhong Life Insurance Co., Ltd. - proprietary funds, increasing its stake [1]

Core Viewpoint - Sunshine Dairy (001318.SZ) reported its Q3 2025 results, highlighting significant institutional ownership and changes in foreign investment dynamics [1] Institutional Ownership - As of October 27, 2025, seven institutional investors disclosed holdings in Sunshine Dairy, totaling 210 million shares, which represents 74.16% of the company's total equity [1] - The institutional ownership decreased by 0.81 percentage points compared to the previous quarter [1] Public Fund Participation - In this reporting period, 12 public funds were disclosed, including Tianhong CSI Food and Beverage ETF, Tianhong CSI Food and Beverage ETF Link A, and Southern CSI 2000 ETF among others [1] Foreign Investment Trends - One foreign fund, BARCLAYS BANK PLC, increased its holdings, contributing to a slight rise in foreign ownership [1] - Two new foreign institutions were disclosed this quarter, including Goldman Sachs International and UBS AG [1]