公募基金方面，本期较上一期持股增加的公募基金共计10个，主要包括银华盛泓债券A、易方达中证创 新药产业ETF、创新药、南方中证创新药产业ETF、建信中证创新药产业ETF等，持股增加占比小幅上 涨。本期较上一季度持股减少的公募基金共计8个，主要包括中欧医疗健康混合A、易方达沪深300医药 ETF、华泰柏瑞沪深300ETF、平安中证医疗创新ETF、中信保诚中证800医药指数(LOF)A等，持股减少 占比达0.50%。本期较上一季度新披露的公募基金共计5个，包括富安达优势成长混合A、建信双息红利 债券A、大摩多因子策略混合、银华钰祥债券A、建信兴利灵活配置混合A。本期较上一季未再披露的 公募基金共计633个，主要包括工银前沿医疗股票A、易方达沪深300ETF、华夏沪深300ETF、嘉实沪深 300ETF、广发创新药ETF等。 外资态度来看，本期较上一期持股增加的外资基金共计1个，即香港中央结算有限公司，持股增加占比 达0.69%。 对于社保基金，本期较上一季度持股减少的社保基金共计1个，即全国社保基金一一二组合，，持股减 少占比小幅下跌。 2025年10月28日，华东医药(000963.SZ)发布2025年第三季报 ...

Core Viewpoint - The article highlights the investment strategy of Shen Kun, a fund manager who emphasizes balanced investment and risk control while pursuing quality growth and reasonable valuations [4][9]. Investment Strategy - Shen Kun adopts a GARP (Growth at a Reasonable Price) investment strategy, focusing on selecting growth companies that are reasonably valued or undervalued [4][9]. - The investment approach involves a balanced allocation across multiple industries, such as computing power, consumer electronics, new consumption, and lithium batteries, to mitigate risks associated with over-concentration in a single sector [6][9]. - The fund manager emphasizes the importance of holding quality growth stocks and avoiding chasing market trends, which can lead to poor performance [5][9]. Performance Metrics - Shen Kun's fund, the Fuanda Advantage Growth Mixed Fund, has achieved over 90% returns in the past year, attributed to a forward-looking approach in selecting individual stocks [7]. - The maximum drawdown for the funds managed by Shen Kun has remained below 20% over the past year, showcasing effective risk management [9]. Market Outlook - The article discusses the positive performance of Chinese assets in 2023, driven by advancements in technology and increased government support for the capital market [11]. - Shen Kun believes that the AI sector is poised to lead the fourth industrial revolution, presenting numerous investment opportunities in the coming years [11].

Group 1 - The core viewpoint of the news is that Defo Technology has acquired Luxembourg Copper Foil, positioning itself among the global leaders in high-end IT copper foil production [1] - Luxembourg Copper Foil, established in 1960, is the only non-Japanese high-end IT copper foil manufacturer globally, with an annual production capacity of 16,800 tons [1] - Defo Technology's total production capacity for electrolytic copper foil has increased to 191,000 tons per year, making it the largest in the world, which will enhance its ability to integrate technological resources and improve profitability [1] Group 2 - In 2024, Luxembourg Copper Foil is projected to generate revenue of €134 million, with a net profit of -€370,000, while in Q1 2025, it is expected to achieve revenue of €45 million and a net profit of €1.67 million, indicating a quarterly turnaround [1] - Defo Technology plans to invest ¥183 million in research and development in 2024, resulting in 17 new invention patents, focusing on high-frequency, high-speed, ultra-thin, and functional technology strategies [1]