Group 1 - The announcement from Shanxi Securities Asset Management indicates the departure of fund manager Yan Han from the Shanxi Securities Reform Selected Mixed Fund [1] - Yan Han has a background in fixed income research, having worked at Bank of China Fund from July 2014 to September 2020, and joined Shanxi Securities Asset Management in October 2020 [1] - The Shanxi Securities Reform Selected Mixed Fund was established on January 12, 2018, and has reported a year-to-date return of 14.03% and a cumulative return of 23.46% as of November 10, 2025, with a net asset value of 1.2347 yuan [1] Group 2 - The fund is officially named Shanxi Securities Reform Selected Flexible Allocation Mixed Securities Investment Fund, with the main code 005226 [2] - The fund management company is Shanxi (Shanghai) Asset Management Co., Ltd., and the change in fund manager is classified as a dismissal [2] - The fund is co-managed by another fund manager, Du Guo Nan Zhi [2]

Group 1 - The core point of the news is the appointment of Du Gu Nan Xun as a new fund manager for the Shan Zheng Asset Management Reform Selected Mixed Fund, indicating a strategic move to enhance the fund's management team [1][2]. - Du Gu Nan Xun has extensive experience in the financial industry, having worked at various institutions such as Taiwan KGI Securities, ICBC Credit Suisse Asset Management, and others, which adds significant expertise to the fund's management [1]. - The Shan Zheng Asset Management Reform Selected Mixed Fund was established on January 12, 2018, and has achieved a year-to-date return of 17.26% and a cumulative return of 26.96% since its inception, with a net asset value of 1.2697 yuan as of November 7, 2025 [1]. Group 2 - The fund is officially named Shan Zheng Asset Management Reform Selected Flexible Allocation Mixed Securities Investment Fund, with the main code 005226 [2]. - The announcement of the new fund manager is based on the "Measures for the Disclosure of Information on Publicly Raised Securities Investment Funds" [2]. - The fund will continue to be co-managed by another fund manager, Yan Yue, alongside the newly appointed Du Gu Nan Xun [2].

Group 1 - Dashiang Co., Ltd. (600694.SH) released its semi-annual report for 2025 on August 27, 2025, indicating that as of August 26, 2025, 17 institutional investors held a total of 187 million shares, accounting for 53.71% of the total share capital [1] - The top ten institutional investors collectively held 52.96% of the shares, with a decrease of 1.62 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, the Fortune Tianhui Growth Mixed (LOF) A/B, reduced its holdings by 0.58% compared to the previous quarter [2] - Three new public funds disclosed their holdings in Dashiang Co., Ltd., including Shanzheng Asset Management Reform Selected Mixed, Zhonggeng Small Cap Value Stock, and Shanzheng Asset Management Selected Industry Mixed Initiated A [2] - One social security fund, the National Social Security Fund 116 Combination, disclosed its holdings in Dashiang Co., Ltd. during this period [2] - Two insurance funds increased their holdings, including China Ping An Life Insurance Co., Ltd. - Dividend - Individual Dividend and China Ping An Life Insurance Co., Ltd. - Own Funds, with an increase of 0.5% [2] - One insurance fund, China Life Insurance Co., Ltd. - Traditional - Ordinary Insurance Product - 005L-CT001, reduced its holdings slightly compared to the previous quarter [2]