Core Insights - The best-performing fund managed by manager Zhu Shaoxing is the FuGuo TianHui LOF (161005), which achieved a quarterly net value increase of 17.45% as of the end of Q3 2025 [1][2]. Fund Performance - Zhu Shaoxing manages a total of three funds, with the FuGuo TianHui LOF having an annualized return of 15.44% and a total fund size of 226.61 billion [2]. - The FuGuo TianHui Growth Mixed (LOF) C and D funds also performed well, with quarterly increases of 17.22% and 17.45%, respectively [2]. Investment Strategy - During Zhu Shaoxing's tenure as the manager of FuGuo TianHui Growth Mixed (LOF) A (161005), the cumulative return reached 1654.7%, with an average annualized return of 15.44% [2]. - The fund made 158 adjustments to its heavy stock positions, achieving a success rate of 60.76% with 96 profitable trades [2]. Key Holdings - The top holding for the FuGuo TianHui LOF is Ningbo Bank, which constitutes 5.47% of the net value [2]. - Notable stock adjustments include significant gains from stocks like Guoci Materials, which yielded an estimated return of 570.91% during its holding period [3][4]. Case Studies of Stock Adjustments - Guoci Materials was held for over 7 years, with a revenue growth of 744.76% during that period [4]. - In contrast, Wei Er Shares experienced a loss of 50.86% during its holding period, reflecting a revenue decline of 16.7% [5].