Core Viewpoint - Changjiang Securities experienced a 5.1% increase in stock price, reaching 8.65 CNY per share, with a trading volume of 790 million CNY and a turnover rate of 1.68%, resulting in a total market capitalization of 47.835 billion CNY [1] Group 1: Company Overview - Changjiang Securities Co., Ltd. is located in Wuhan, Hubei Province, and was established on July 24, 1997, with its listing date on July 31, 1997 [1] - The company's main business includes securities brokerage, proprietary trading, underwriting, and entrusted asset management [1] - The revenue composition of the main business is as follows: brokerage and securities financial services 60.03%, proprietary trading 21.94%, alternative investments and private equity management 9.27%, investment banking 3.97%, asset management 3.23%, other businesses 0.99%, and overseas business 0.55% [1] Group 2: Fund Holdings - According to data, one fund under ICBC Credit Suisse Asset Management holds a significant position in Changjiang Securities [2] - The fund, ICBC CSI 500 Six-Month Holding Index Enhanced A (014133), held 262,300 shares in the second quarter, accounting for 1.09% of the fund's net asset value, making it the second-largest holding [2] - The estimated floating profit from this position is approximately 110,200 CNY [2] Group 3: Fund Performance - The ICBC CSI 500 Six-Month Holding Index Enhanced A (014133) was established on December 14, 2021, with a current scale of 104 million CNY [2] - Year-to-date, the fund has achieved a return of 27.35%, ranking 1633 out of 4218 in its category; over the past year, it has returned 29.91%, ranking 1443 out of 3868; and since inception, it has returned 11.83% [2]

Core Viewpoint - Changjiang Securities experienced a 5.02% increase in stock price, reaching 8.37 CNY per share, with a trading volume of 789 million CNY and a turnover rate of 1.74%, resulting in a total market capitalization of 46.287 billion CNY [1] Company Overview - Changjiang Securities Co., Ltd. is located at 88 Huaihai Road, Jianghan District, Wuhan, Hubei Province, and was established on July 24, 1997, with its listing date on July 31, 1997. The company primarily engages in securities brokerage, proprietary trading, underwriting, and entrusted asset management [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under ICBC Credit Suisse Asset Management has a significant position in Changjiang Securities. The fund, ICBC CSI 500 Six-Month Holding Index Enhanced A (014133), held 262,300 shares in the second quarter, accounting for 1.09% of the fund's net asset value, making it the second-largest holding. The estimated floating profit today is approximately 104,900 CNY [2] - The ICBC CSI 500 Six-Month Holding Index Enhanced A (014133) was established on December 14, 2021, with a current scale of 104 million CNY. Year-to-date, it has achieved a return of 30%, ranking 1666 out of 4221 in its category; over the past year, it has returned 50.87%, ranking 1464 out of 3836; and since inception, it has returned 14.15% [2] - The fund manager, Liu Zihao, has been in the position for 2 years and 172 days, managing total assets of 3.318 billion CNY. During his tenure, the best fund return was 70.55%, while the worst was -3.18% [2]

Group 1 - The report focuses on the ICBC Credit Suisse Active Quantitative Investment Team, highlighting their strong performance and innovative strategies in the current market environment [2][12][13] - The team operates under a "multi-perspective, multi-asset, multi-factor, multi-strategy" approach, led by experienced quant expert Jiao Wenlong, which provides them with a significant competitive advantage [2][12][13] - The team has a well-structured organization with diverse backgrounds, allowing for effective collaboration across various asset classes and investment strategies [3][15][24] Group 2 - The team has developed the ARC Investment Navigation System, which emphasizes active management, mean reversion, and certainty in investment decisions, enhancing their ability to navigate macroeconomic cycles [5][24] - The product line is diverse, primarily focusing on fundamental quantitative and index-enhanced strategies, which together account for over 80% of their total assets under management [35][36] - The team has achieved notable performance metrics, with specific products like ICBC New Value and ICBC New Opportunities showing strong returns compared to their benchmarks [4][20][36] Group 3 - The quantitative research framework is comprehensive, utilizing a combination of traditional multi-factor models and advanced algorithms to enhance stock selection capabilities [25][26][30] - The integration of subjective and quantitative analysis allows the team to leverage deep industry insights while maintaining a robust quantitative approach [30][31] - The team has established a systematic platform for research and investment, facilitating efficient collaboration and strategy implementation across the organization [32][33]