Group 1 - The core point of the article highlights the performance and structure of the fund "Guangfa Hong Kong and Shanghai New Starting Point Stock C," which has seen a decline of 0.06% recently and a cumulative drop of 1.35% over five trading days [1] - The fund was established in September 2020, with a total size of 623 million yuan and an accumulated return of -5.79% since inception [1] - As of the end of 2024, institutional investors hold 92.75% of the fund's total shares, while individual investors hold 7.25% [1] Group 2 - The current fund manager, Mr. Li Yaozhu, has a master's degree in science and holds a certificate for the Chinese Securities Investment Fund Industry [2] - Mr. Li has been managing multiple funds since 2016, including the "Guangfa Hong Kong and Shanghai New Starting Point Stock Fund" since November 9, 2016 [2] - His extensive experience includes roles as a stock trader, researcher, and assistant fund manager within Guangfa Fund Management Company [2] Group 3 - As of March 31, 2025, the top ten holdings of the fund account for a total of 62.53%, with significant positions in Alibaba-W (9.72%), Tencent Holdings (8.88%), and Meituan-W (8.29%) [3] - Other notable holdings include Midea Group (7.90%), China Mobile (7.80%), and CNOOC (6.04%) [3]