Core Viewpoint - The report highlights the performance of mixed public funds over the past year, indicating a strong market performance in A-shares and a significant presence of certain financial institutions in the rankings [5][6]. Group 1: Market Performance - As of January 15, 2026, the A-share market continued its strong performance, with the ChiNext Index rising over 62%, the Shenzhen Component Index increasing over 42%, and the Sci-Tech 100 Index gaining over 74% [5]. - The Hong Kong stock market also showed positive results, with the Hang Seng Index up over 39%, the Hang Seng Tech Index rising over 33%, and the Hang Seng Hong Kong Stock Connect Index increasing over 46% [5]. - The bond market experienced continued fluctuations, with a downward trend in interest rates [5]. Group 2: Overall Performance of Mixed Public Products - As of January 15, 2026, there were 249 mixed public fund products with an investment period of 1-3 years, with an average net value growth rate of 5.50% over the past year [6]. - More than 60% of these products had a net value growth rate between 1% and 5%, while 11 products had growth rates between 10% and 20%, and 8 products exceeded 20% growth [6]. - Only one product reported negative growth [6]. Group 3: Product Analysis - Ningyin Wealth Management had 7 products heavily invested in equity assets and public funds, with some products having over 80% allocation to public funds [7]. - The strong performance of the equity market led to superior growth in Ningyin's mixed products, although they were also subject to significant volatility, with some products experiencing maximum drawdowns exceeding 15% [7]. - The report noted that mixed equity products performed well, while mixed debt products lagged due to the "stock-bond seesaw effect" [7]. - The lowest performing product was the "Postal Wealth·Hongyuan Two-Year Fixed Opening No. 21 (Industry Selection) RMB Financial Product," which had a net value growth rate of -0.88% and a bond holding ratio of 41.6% [7][8].

Core Insights - The article discusses the performance of mixed public funds in the Chinese market over the past year, highlighting the top-performing products and the overall market trends [5][6]. Group 1: Performance Overview - The average net value growth rate for mixed public funds with a duration of 1-3 years is 4.62%, with a maximum drawdown average of 1.2% [5]. - Among 268 mixed public fund products, 202 had a net value growth rate below 5%, and 1 product reported a negative growth rate [5]. - The top five products in the ranking achieved an average net value growth rate exceeding 15% over the past year [6]. Group 2: Market Trends - Since October 2025, the A-share market has shown a volatile adjustment pattern after a strong rally, with the Shanghai Composite Index slightly increasing by 0.20%, while the CSI 300 and Shenzhen Composite Index fell by 1.56% and 2.86%, respectively [5]. - The Hong Kong stock market has also experienced a downward trend, with the Hang Seng Index declining by 5.05% [5]. Group 3: Product-Specific Performance - The "Ningyin Individual Stock Selection Mixed Open-End Fund Product No. 2" and "Ningyin Mixed Shanghai-Hong Kong-Shenzhen Theme Fund No. 1" faced significant impacts from market adjustments, with net value growth rates of -3.41% and -1.68% over the past three months, respectively [6]. - The "Ningyin Balanced Growth Mixed Open-End Fund Product No. 2" maintained a growth trend with a net value growth rate of 5.37% over the past three months, attributed to its higher allocation in cash, bank deposits, and bond ETFs [6]. - Other products that maintained net value growth include "Ningyin Individual Stock Selection Mixed Open-End Fund Product No. 1" and "Ningyin Mixed FOF Strategy Open-End Fund," although they also began to show declines in the last month [7].

Overall Performance - As of October 10, 2025, the average net value growth rate for mixed public financial products with a term of 1-3 years is 5.9%, with an average maximum drawdown of 1.57% [5] - Ningyin Wealth Management has shown exceptional performance, with its mixed products achieving an average net value growth rate exceeding 15% over the past year [5] - The top three products in the ranking are "Ningyin Individual Stock Selection Mixed Open-End Financial Product No. 2" and "Ningyin Mixed Shanghai-Hong Kong-Shenzhen Theme Financial Product No. 1," with net value growth rates of 28.12% and 24%, respectively [5] Highlighted Product Analysis - "Ningyin Individual Stock Selection Mixed Open-End Financial Product No. 2" is classified as a medium-high risk product with an equity holding of 76.54%, resulting in a maximum drawdown of 15.04% and an annualized volatility of 16.32% [6] - The top ten holdings of this product include Hong Kong stocks such as CIMC Enric, 361 Degrees, Geely Automobile, and Bosideng, with notable gains of 38.82% and 67.42% for 361 Degrees and Geely Automobile, respectively [6] - "Ningyin Mixed Shanghai-Hong Kong-Shenzhen Theme Financial Product No. 1" focuses on public funds with an 81.23% holding ratio, featuring strong performance from its top three funds, including a mixed fund that gained 42.74% over the past year [7] - The outlook for the market suggests potential investment opportunities in the technology innovation sector, although challenges such as U.S. dollar liquidity tightening may impact the Hong Kong market in the second half of the year [7]

Overall Performance - As of September 4, 2025, there are a total of 211 public mixed products with an investment cycle of 1-3 years that have been in existence for over one year [4] - Among these products, Ningyin Wealth Management, Hangyin Wealth Management, and Xingyin Wealth Management have made it to the top ten, with Ningyin Wealth Management having 7 products, Hangyin Wealth Management 2 products, and Xingyin Wealth Management 1 product [4] Highlighted Product Analysis - The A-share market has been active recently, with major indices showing a mild upward trend, leading to significant net value increases in mixed products primarily focused on individual stocks [5] - Ningyin Wealth Management's two high-position individual stock selection series products occupy the top two spots on the list, with net value growth rates of 36.28% and 32.51% over the past year [5] - As of the end of June 2025, the equity investment ratio of Ningyin Wealth Management's "Ningyin Individual Stock Selection Mixed Open-End Wealth Management Product No. 2" reached 76.54%, with 12.10% in cash and bank deposits, 7.96% in bonds, and 3.40% in public funds [5] - The top ten holdings of this product are primarily Hong Kong stocks, covering industries such as oil and petrochemicals, textiles and apparel, industrial machinery, automotive manufacturing, and real estate, with a total holding ratio of 41.46% [5] - The equity investment ratio of "Ningyin Individual Stock Selection Mixed Open-End Wealth Management Product No. 1" is slightly lower at 68.91%, with individual stocks accounting for 14.22% of the total holdings [5] Market Outlook - The market outlook is cautiously optimistic for the A-share market in the medium to long term, with expectations of continued upward movement despite short-term volatility [6] - A report from Galaxy Securities indicates that the A-share market is likely to continue a trend of oscillating upward, while short-term volatility risks should be monitored [6] - Huatai Securities' latest report suggests that the revenue and profit growth rates of non-financial enterprises in the A-share market have shown slight recovery, indicating signs of stabilization at the bottom [6] - Overall, the A-share market is in a bottoming phase, with structural recovery underway, and investors are encouraged to focus on sectors with improving conditions and stable dividends [6]