Core Insights - The Chinese public fund industry is undergoing a historic transformation, shifting focus from scale expansion to quality improvement and sustainable growth, with a consensus on enhancing equity investment capabilities [2][3] - The "bank-affiliated public funds," traditionally strong in fixed income, are increasingly entering the equity investment space, exemplified by the strategic shift of Jianxin Fund [2][3] - Jianxin Fund is implementing a comprehensive transformation across its research and investment architecture, product design, risk control systems, and corporate culture to adapt to the evolving market landscape [2][4] Industry Trends - The total scale of the public fund industry has surpassed 35 trillion yuan, marking a significant milestone in its development [2] - The industry is moving towards a "platform-based, integrated, multi-strategy" research and investment system, moving away from reliance on individual fund managers [2][4] Jianxin Fund's Strategy - Jianxin Fund aims to maintain its stable characteristics as a bank-affiliated institution while successfully navigating the competitive equity market [3][4] - The fund has established a "3+3+3+1" integrated research and investment framework, focusing on three key investment departments, three strategic business units, and three flexible research platforms [4][5] - The fund's decision-making structure has been optimized to enhance efficiency and collaboration across different asset classes [5] Product Development - Jianxin Fund has accelerated the innovation and layout of equity products, focusing on technology innovation and national strategic directions [9][11] - The fund's product strategy is driven by a dual approach of tapping into emerging market opportunities while aligning with client needs [9][11] - The fund has launched a variety of equity products, with over 64% of its equity investments in strategic emerging industries as of June 30, 2025 [9][11] Risk Management and Culture - Jianxin Fund has established a comprehensive risk management framework that spans the entire investment process, adhering to the "four early" principles [12][13] - The fund emphasizes a culture of stability and responsibility, ensuring that its investment decisions align with the long-term interests of its clients [13][15] - The fund's internal culture promotes a focus on process over short-term results, fostering a stable output that prioritizes client profitability [13][15] Conclusion - The public fund industry is entering a new phase, where the ability to build a sustainable talent development system and a non-reliant research and investment production chain will define excellence [14][15] - Jianxin Fund's two-decade experience is being leveraged to navigate its transformation, aiming to establish itself as a platform-based asset management institution capable of creating long-term value [15]

Core Viewpoint - The Chinese public fund industry is undergoing a historic transformation, shifting focus from mere scale expansion to quality improvement and sustainable growth, with a consensus on enhancing equity investment capabilities as a core issue [1][2]. Group 1: Industry Trends - The total scale of the public fund industry has surpassed 35 trillion yuan, indicating a significant milestone in its development [1]. - The emphasis on a platform-based, integrated, and multi-strategy research and investment system is replacing the previous reliance on individual fund managers [2]. - The "Action Plan for Promoting High-Quality Development of Public Funds" calls for a substantial increase in the scale and proportion of equity investments [1]. Group 2: Company Transformation - Jianxin Fund exemplifies the trend of enhancing equity investment capabilities, with total assets under management exceeding 1.43 trillion yuan and serving nearly 93 million clients as of mid-2025 [1]. - The company is systematically transforming its research and investment framework, product design, risk control system, and corporate culture to align with its strategic shift [1][2]. Group 3: Research and Investment System - Jianxin Fund has initiated a comprehensive upgrade of its research and investment system, aiming to establish a systematic and platform-based capability [3]. - The "3+3+3+1" integrated research framework includes three key investment departments (equity, fixed income, multi-asset), three strategic business departments (quantitative, overseas, REITs), and three flexible research platforms [3]. Group 4: Product Strategy - Jianxin Fund has accelerated the innovation and layout of equity products, focusing on a "pyramid-shaped" product system that covers various asset classes [8][10]. - As of June 30, 2025, over 64% of Jianxin Fund's investments in strategic emerging industries are in the technology sector, reflecting its commitment to participating in China's economic transformation [8]. Group 5: Risk Management and Culture - Jianxin Fund has established a multi-layered risk management system that covers the entire investment process, adhering to the "four early" principles [11]. - The company's culture emphasizes stability and a sense of fiduciary responsibility, which is deeply embedded in its operational practices and decision-making processes [12]. Group 6: Future Outlook - The public fund industry is entering a new development stage, where the ability to build a sustainable talent cultivation system and define stable investment styles will be crucial [13][14]. - Jianxin Fund aims to transition from being a "fixed income stronghold" to a "platform-based asset management institution," focusing on creating long-term value [14].