Core Viewpoint - The announcement from China Merchants Fund Management Co., Ltd. indicates a suspension of large-scale subscriptions and conversions for the China Merchants Balanced Preferred Mixed Securities Investment Fund starting from September 22, 2025, to ensure stable fund operations and protect the interests of fund shareholders [1] Group 1: Fund Operations - The fund will suspend large-scale subscriptions (including regular investment) and conversion-in business, with a subscription and conversion-in limit set at 10,000 yuan [1] - The specific details of the affected sub-funds include: - China Merchants Balanced Preferred Mixed A (Code: 024027) will have a subscription limit of 10,000 yuan and a conversion limit of 10,000 yuan [1] - China Merchants Balanced Preferred Mixed C (Code: 024028) will also have a subscription limit of 10,000 yuan and a conversion limit of 10,000 yuan [1] Group 2: Implementation Date - The suspension of large-scale regular investment will commence on September 22, 2025 [1]

Market Overview - The Shanghai Composite Index fell by 0.45% to close at 3858.13 points, with a high of 3885.31 points [1] - The Shenzhen Component Index decreased by 2.14% to 12553.84 points, reaching a maximum of 12857.16 points [1] - The ChiNext Index dropped by 2.85% to 2872.22 points, peaking at 2979.73 points [1] Margin Trading and Securities Lending - The total margin trading and securities lending balance in the Shanghai and Shenzhen markets was 22811.21 billion yuan, with a financing balance of 22650.35 billion yuan and a securities lending balance of 160.85 billion yuan [2] - The margin trading and securities lending balance decreased by 85.37 billion yuan compared to the previous trading day [2] - The Shanghai market's margin trading balance was 11692.6 billion yuan, down by 25.08 billion yuan, while the Shenzhen market's balance was 11118.61 billion yuan, down by 60.29 billion yuan [2] Top Margin Buying Stocks - The top three stocks by margin buying amount were: - Xinyi Technology (51.06 billion yuan) [3] - Zhongji Xuchuang (50.48 billion yuan) [3] - Shenghong Technology (50.25 billion yuan) [3] Fund Issuance - Two new funds were issued yesterday: - China Merchants Balanced Optimal Mixed A [4] - China Merchants Balanced Optimal Mixed C [4] Top Net Buying Stocks on the Dragon and Tiger List - The top ten net buying stocks on the Dragon and Tiger list were: - Julun Intelligent (437.29 million yuan) [6] - Changchun High-tech (274.93 million yuan) [6] - Gongxiao Daji (258.11 million yuan) [6] - Jianghai Shares (252.47 million yuan) [6] - Baiyin Youse (129.70 million yuan) [6]