Group 1 - The core point of the news is that Huate Dain has experienced a decline in stock price over three consecutive trading days, with a cumulative drop of -0.59% [1] - Huate Dain Health Co., Ltd. is listed on the Shenzhen Stock Exchange with the stock code 000915 [1] - In the second quarter of this year, the Zhaoshang Fund's Zhaoshang Medical Health Industry Stock Fund entered the top ten shareholders of Huate Dain, marking a new investment [1] Group 2 - The Zhaoshang Medical Health Industry Stock Fund has achieved a year-to-date return of 31.18%, ranking 223 out of 979 in its category [2] - The fund's performance over various periods includes a 1-week increase of 1.28%, a 1-month increase of 5.01%, a 3-month increase of 24.50%, a 6-month increase of 25.57%, and a year-to-date increase of 31.189% [2] - The average performance of similar funds for the year is 22.009%, indicating that Zhaoshang's fund has outperformed its peers [2] Group 3 - Li Jiasun, the fund manager of Zhaoshang Medical Health Industry Stock Fund, has a Master's degree in Economics and has been involved in the pharmaceutical industry research since 2008 [3][4] - Li Jiasun has been managing the Zhaoshang Medical Health Industry Stock Fund since January 30, 2015, and has a total management experience of over 10 years [4] - The Zhaoshang Fund Management Co., Ltd. was established in December 2002, with major shareholders being China Merchants Bank and China Merchants Securities [4]

Core Viewpoint - Saintno Bio (688117.SH) reported a decline in institutional ownership in its half-year report for 2025, with a total of 70.23 million shares held by eight institutional investors, representing 44.62% of the total share capital, down 4.62 percentage points from the previous quarter [1] Institutional Ownership - As of August 14, 2025, eight institutional investors disclosed their holdings in Saintno Bio, totaling 70.23 million shares, which is 44.62% of the company's total equity [1] - The institutional investors include Sichuan Sino Investment Co., Ltd., Sichuan Development Securities Investment Fund Management Co., Ltd., Lepu Medical Technology (Beijing) Co., Ltd., and several mutual funds [1] - Compared to the previous quarter, the total institutional ownership percentage decreased by 4.62 percentage points [1] Public Fund Disclosures - Four new public funds disclosed their holdings this period, including Huashang Intelligent Life Flexible Allocation Mixed A, Huashang Emerging Vitality Mixed, Huashang Core Growth One-Year Holding Mixed A, and Huashang Excellent Growth One-Year Holding Mixed A [1] - Seven public funds that were previously disclosed did not report this quarter, including Yuanxin Yongfeng Ju You A, China Merchants Medical Health Industry Stock, and several others [1]

Core Viewpoint - The article emphasizes that the current valuation of the China Medical Index (中证医疗) is at historically low levels, making it an opportune time for regular investment by ordinary investors [1]. Group 1: Market Analysis - The China Medical Index has experienced a significant adjustment period, with a peak in June 2015 and a low point at the end of 2018, followed by a recovery until the end of 2021, and has now been in a correction phase for approximately two years [5]. - The current adjustment has reached about 60% of its potential, indicating that the market may be nearing a bottom, although the duration of the adjustment is uncertain [5]. - A longer adjustment period is seen as beneficial for regular investors, as it allows for the accumulation of shares at lower prices, potentially leading to greater future gains [5]. Group 2: Investment Strategy - Ordinary investors are advised to focus on the Price-to-Book (PB) ratio for the China Medical Index, with a recommendation to start regular investments when the PB is below 20% [9]. - For more aggressive investors, a threshold of 25% to 30% is suggested for initiating investments [9]. - The article lists several actively managed medical-related funds that have been established for over six years and have a scale of over 500 million, highlighting their respective returns, with the top performer achieving a return of 178.62% since May 2017 [11]. Group 3: Fund Selection - The article provides a table of selected funds, showing their total returns and annualized returns over a period of approximately 6.2 years, with the best-performing fund yielding an annualized return of 18.00% [11]. - It emphasizes that despite current low valuations, all listed funds have positive long-term returns, suggesting that the issue lies more with the timing of investments rather than the funds themselves [12]. - The article advises investors to consider funds that have survived through market cycles and have demonstrated resilience [12].