天弘基金在指增量化基金领域的布局整体起步时间较早，首只指增产品天弘中证 500 指数增强于 2019 年 8 月转 型成立，随后以每年 2-3 只新品的节奏稳步扩张，2025 年公司迎来产品布局的"爆发期"。截至 2025 年三季度末， 天弘基金指增量化基金已达 19 只，总管理规模突破 120.84 亿元，成为业内为数不多的迈入"百亿阵营"的量化团队。 目前，天弘基金已成功构建起覆盖广泛、梯队完整、工具属性鲜明的指增产品矩阵，为投资者在不同市场环境下进行 精准资产配置提供了完备的量化工具库。 天弘基金旗下宽基指增量化产品整体超额持续、稳健。截止 2025 年 10 月 31 日，天弘沪深 300、中证 500、中证 1000、创业板指数增强等运作时间较长的代表产品，不论是今年以来的短期维度，还是最近三年的中长期统计区间， 超额收益均全面跑赢同期同业指增平均水平，成功穿越市场波动周期。回撤控制方面，量化团队始终将风险管理贯穿 于投资流程的核心，通过严格约束产品相对于业绩比较基准在行业、风格等维度上的暴露，使得旗下产品在不同的市 场波动环境中，均展现出了良好的抗风险能力。截至 2025 年 10 月 31 日， ...

Group 1 - Lianchuang Electronics (002036.SZ) reported its semi-annual results for 2025, with 16 institutional investors holding a total of 152 million shares, representing 14.37% of the company's total equity as of August 25, 2025 [1] - The top ten institutional investors collectively hold 14.32% of the shares, with a 0.53 percentage point increase compared to the previous quarter [1] Group 2 - In the public fund sector, five funds increased their holdings, with a total increase of 0.40% compared to the previous period [2] - Seven new public funds disclosed their holdings this period, including Tianhong CSI 500 Index Enhanced A and Wanji CSI 1000 Index Enhanced A [2] - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.28% compared to the previous period [2]

Market Performance - On August 20, A-shares saw all three major indices rise, with the Shanghai Composite Index increasing by 1.04% to 3766.21 points, the Shenzhen Component Index rising by 0.89% to 11926.74 points, and the ChiNext Index up by 0.23% to 2607.65 points [1] Fund Manager Changes - In the past 30 days (July 21 to August 20), there were 501 fund manager changes across various fund products, with 9 announcements made on August 20 alone [1] - Reasons for fund manager changes included work transitions, personal reasons, and product expirations [1] Fund Manager Performance - Jia Shi Fund's Yan Weipeng managed a total fund size of 0.854 billion, with the highest return of 122.18% from the Agricultural Bank Theme Rotation Mixed A fund over 5 years and 285 days [2] - Tian Fund's Yang Chao managed a total fund size of 5.991 billion, achieving a 97.05% return from the Tianhong CSI 500 Index Enhanced A fund over 6 years and 10 days [2] Fund Company Research Activity - In the past month, Bosera Fund conducted the most company research, engaging with 56 listed companies, followed closely by Penghua Fund (55), Huaxia Fund (54), and Fortune Fund (52) [4] - The chemical products industry was the most researched sector, with 223 instances, followed by specialized equipment with 183 instances [4] Recent Stock Research Focus - In the last month, the most researched stock was Defu Technology, with 79 fund management companies participating in the research, followed by Zhongchong Co. and Baiya Co. with 71 and 65 companies respectively [4] - In the past week (August 13 to August 20), Baiya Co. was the most researched company, with 65 fund institutions involved [5]