易方达上证科创板50ETF（588080）基金经理为林伟斌、成曦。 截至发稿，林伟斌累计任职时间12年264天，现任基金资产总规模1226.92亿元，任职期间最佳基金回报 84.68%， 任职期间最差基金回报-22.14%。 11月21日，天合光能跌5.01%，截至发稿，报18.19元/股，成交8.89亿元，换手率2.05%，总市值426.11 亿元。 资料显示，天合光能股份有限公司位于江苏省常州市新北区天合光伏产业园天合路2号，成立日期1997 年12月26日，上市日期2020年6月10日，公司主营业务涉及光伏产品、光伏系统、智慧能源三大板块。 光伏产品包括单、多晶的硅基光伏组件的研发、生产和销售;光伏系统包括电站业务及系统产品业务;智 慧能源包括光伏发电及运维服务、智能微网及多能系统的开发和销售以及能源云平台运营等业务。主营 业务收入构成为：光伏产品64.66%，系统解决方案21.23%，其他(补充)5.54%，数字能源服务4.42%，储 能业务4.14%。 从天合光能十大流通股东角度 数据显示，易方达基金旗下1只基金位居天合光能十大流通股东。易方达上证科创板50ETF（588080） 三季度减持688. ...

易方达上证科创板50ETF（588080）成立日期2020年9月28日，最新规模767.61亿。今年以来收益 36.36%，同类排名1038/4208；近一年收益35.23%，同类排名924/3971；成立以来亏损3.2%。 11月20日，天合光能跌5.06%，截至发稿，报19.15元/股，成交9.61亿元，换手率2.25%，总市值417.35 亿元。 资料显示，天合光能股份有限公司位于江苏省常州市新北区天合光伏产业园天合路2号，成立日期1997 年12月26日，上市日期2020年6月10日，公司主营业务涉及光伏产品、光伏系统、智慧能源三大板块。 光伏产品包括单、多晶的硅基光伏组件的研发、生产和销售;光伏系统包括电站业务及系统产品业务;智 慧能源包括光伏发电及运维服务、智能微网及多能系统的开发和销售以及能源云平台运营等业务。主营 业务收入构成为：光伏产品64.66%，系统解决方案21.23%，其他(补充)5.54%，数字能源服务4.42%，储 能业务4.14%。 从天合光能十大流通股东角度 易方达上证科创板50ETF（588080）基金经理为林伟斌、成曦。 截至发稿，林伟斌累计任职时间12年263天，现任基金 ...

Core Points - Geke Micro's stock price has declined for five consecutive days, with a total drop of 9.11% during this period, currently trading at 15.06 CNY per share [1] - The company specializes in the research, design, and sales of CMOS image sensors and display driver chips, with 80.51% of its revenue coming from CMOS image sensors and 19.41% from display driver chips [1] Shareholder Analysis - E Fund's ETF, the E Fund SSE STAR 50 ETF (588080), has reduced its holdings in Geke Micro by 3.82 million shares in the third quarter, now holding 28.49 million shares, which is 1.14% of the circulating shares [2] - The ETF has experienced a floating loss of approximately 284,900 CNY today and a total floating loss of 43.01 million CNY during the five-day decline [2] - The E Fund SSE STAR 50 ETF has a total size of 76.76 billion CNY and has achieved a year-to-date return of 40.63%, ranking 971 out of 4,216 in its category [2]

Core Viewpoint - Central Huijin's investment strategy reflects a strong commitment to broad-based ETFs while demonstrating flexibility in sector-themed ETFs, indicating a dual approach to asset allocation [1][4]. Group 1: Broad-based ETFs - Central Huijin shows strong holding stability in broad-based ETFs, with 15 out of 21 ETFs held at the end of Q2 remaining unchanged in Q3, maintaining a shareholding ratio above 20% [2]. - The total holdings in broad-based ETFs reached 1,947.11 billion shares for Central Huijin Investment Co. and 1,626.04 billion shares for Central Huijin Asset Management Co. by the end of Q3 [2]. - Notable growth was observed in mainstream broad-based ETFs, with some experiencing net asset value growth rates exceeding 50% in Q3, and 22 ETFs showing growth rates over 10% [2][5]. Group 2: Sector-themed ETFs - Central Huijin's asset management plans exhibit a more flexible adjustment strategy in sector-themed ETFs, with significant reductions in holdings for specific ETFs [4]. - The two asset management plans reduced their holdings in the Guotai CSI 800 Automotive and Parts ETF and completely divested from the Huaxia Hang Seng China Enterprises High Dividend ETF [4]. - High-performing sector-themed ETFs included the Huaxia CSI 5G Communication Theme ETF and the Huabao CSI Electronic 50 ETF, with net asset value growth rates exceeding 40% [5]. Group 3: Investment Philosophy - Central Huijin's approach to broad-based and sector-themed ETFs reflects a macroeconomic strategy focused on long-term stability and value discovery, with a lower sensitivity to short-term market fluctuations [3][5]. - The adjustments in sector-themed ETFs are aimed at optimizing returns and managing risks by closely following market trends and industry conditions [5]. - The distinction in strategies for broad-based and sector-themed ETFs illustrates Central Huijin's management philosophy of adapting asset allocation based on economic cycles and industry dynamics [5].

Core Insights - Central Huijin Asset Management and Central Huijin Investment maintained their holdings in several leading broad-based ETFs during Q3, indicating a strong commitment to these investments [1][2][6] - Notable adjustments were observed among some institutional investors, with Huaxia Fund's proprietary account completely liquidating its position in the Huaxia Hang Seng China Enterprises High Dividend ETF [7][8] - China Life Insurance reduced its holdings in multiple STAR Market ETFs, reflecting a strategic shift in its investment approach [11] Central Huijin's ETF Holdings - Central Huijin Asset Management held 37.86 billion shares of the Huatai-PineBridge CSI 300 ETF, while Central Huijin Investment held 35.65 billion shares, with both figures remaining unchanged from the previous quarter [2][5] - The total holdings in various ETFs, including the E Fund CSI 300 ETF and Huaxia CSI 500 ETF, also remained stable during Q3, suggesting a consistent investment strategy [6] Institutional Adjustments - Huaxia Fund's proprietary account, previously the largest holder of the Huaxia Hang Seng China Enterprises High Dividend ETF with 8.06 million shares (19.35% of total), completely exited this position in Q3 [8][10] - China Life Insurance's significant reductions in holdings of STAR Market ETFs included a drop from 753 million shares to 480 million shares in the Huaxia STAR Market 100 ETF, and from 1.23 billion shares to 679 million shares in the Bosera STAR Market 100 ETF [11]

Core Viewpoint - In the third quarter of 2025, public funds in China achieved a remarkable profit of 2.08 trillion yuan, driven by strong performance in equity products, marking a significant increase of 4.4 times compared to the previous quarter [1][3][10]. Profit Overview - The overall profit of public funds for the first three quarters of 2025 reached 27.14 trillion yuan, with equity funds being the major contributors [1][11]. - The profits from stock and mixed funds in the third quarter were 1.08 trillion yuan and 757.49 billion yuan, respectively, accounting for nearly 90% of total profits [4][11]. Fund Management Companies - Leading fund management companies such as E Fund, Huaxia, and Harvest reported profits exceeding 100 billion yuan in the third quarter, with E Fund alone generating 297.28 billion yuan [5][6][7]. - A total of 162 fund management firms reported profits, with 34 companies achieving profits over 10 billion yuan [6][12]. Market Performance - The market showed strong performance in the third quarter, with the CSI 300 Index rising by 17.9% and the ChiNext Index increasing by 50.4%, contributing to the profitability of public funds [3][10]. - The "seesaw" effect was evident in the stock and bond markets, with larger equity fund management companies reporting higher overall profits [7]. Specific Fund Performance - E Fund's products, including the E Fund CSI 300 ETF and E Fund ChiNext ETF, were among the top performers, generating profits of 49.58 billion yuan and over 39 billion yuan, respectively [8][9]. - Huaxia Fund and Harvest Fund also reported significant profits, with Huaxia's total reaching 227.41 billion yuan and Harvest's at 102.64 billion yuan [9][11].

Core Insights - Western Superconducting Technologies Co., Ltd. has seen its stock price increase by 5.21% to 80.80 CNY per share, with a total market capitalization of 52.493 billion CNY as of October 28 [1] - The company has experienced a continuous stock price rise for six days, accumulating a total increase of 13.11% during this period [1] - The company's main business includes the research, production, and sales of high-end titanium alloy materials, superconducting products, and high-performance high-temperature alloy materials, with revenue contributions of 57.59%, 29.34%, 9.01%, and 4.07% respectively [1] Shareholder Insights - E Fund's ETF, the E Fund SSE STAR 50 ETF (588080), is among the top ten circulating shareholders of Western Superconducting, having increased its holdings by 537,400 shares in the second quarter, totaling 18.8324 million shares, which represents 2.9% of the circulating shares [2] - The ETF has generated an estimated floating profit of approximately 75.3295 million CNY today, with a total floating profit of 168 million CNY during the six-day stock price increase [2] - The E Fund SSE STAR 50 ETF has a total scale of 62.683 billion CNY and has achieved a year-to-date return of 50.42%, ranking 698 out of 4,218 in its category [2] Fund Manager Insights - The fund managers of the E Fund SSE STAR 50 ETF are Lin Weibin and Cheng Xi, with Lin having a cumulative tenure of 12 years and 240 days, managing assets totaling 106.5 billion CNY, and achieving a best fund return of 81.86% during his tenure [3] - Cheng has a cumulative tenure of 9 years and 177 days, managing assets of 195.312 billion CNY, with a best fund return of 131.04% during his tenure [3]

Core Insights - As of October 10, the total margin balance for ETFs in the Shanghai and Shenzhen markets reached 113.703 billion yuan, an increase of 0.108 billion yuan from the previous trading day [1] - The financing balance for ETFs was 106.254 billion yuan, up by 0.145 billion yuan, while the margin balance for securities lending decreased to 7.449 billion yuan, down by 0.037 billion yuan [1] ETF Financing Activity - On October 10, 231 ETFs experienced net financing inflows, with the Huaxia SSE Sci-Tech Innovation Board 50 ETF leading with a net inflow of 0.31 billion yuan [1] - Other notable ETFs with significant net financing inflows included the Harvest SSE Sci-Tech Innovation Board Chip ETF, E Fund CSI Hong Kong Securities Investment Theme ETF, and others [1]

Core Insights - The Chinese stock ETF market has experienced significant growth in both scale and inflow, with total stock ETF assets reaching a record high of 3.71 trillion yuan by the end of September, marking a year-to-date increase of 820.82 billion yuan, or approximately 28.43% [1][3][4] Summary by Sections Market Growth - As of September 30, the total market ETF size reached 5.63 trillion yuan, also a historical high [2] - The stock ETF segment accounted for 65.88% of the total market ETF size, with a steady increase from 2.89 trillion yuan at the end of last year to 3.71 trillion yuan by September [3] Inflows and Performance - In September alone, stock ETFs saw a net inflow of 112.31 billion yuan, marking a significant monthly inflow after April [4][5] - The last three trading days of September recorded substantial inflows of over 10 billion yuan each day [4] - The stock ETF segment also reported a strong performance, with major indices like the ChiNext 50 and the Science and Technology Innovation Board showing gains of 14.40% and 13.66%, respectively [6] Sector Preferences - In September, thematic ETFs attracted 94.13 billion yuan in net inflows, while broad-based index ETFs experienced a net outflow of 47.91 billion yuan [9] - The most popular ETFs included those focused on securities and battery sectors, with net inflows of 24.60 billion yuan and 10.99 billion yuan, respectively [9] - Notably, some broad-based ETFs, such as those tracking the ChiNext 50 and the CSI 300, faced significant outflows, indicating a shift in investor preference [10] Future Outlook - Analysts suggest that the growth trend in stock ETFs is likely to continue, driven by policy support, improved market conditions, and rising wealth management needs among residents [7][10]

Core Viewpoint - The stock price of Amlogic Co., Ltd. has increased by 3.31% on September 24, reaching 104.18 CNY per share, with a total market capitalization of 43.87 billion CNY, reflecting a cumulative increase of 14.48% over the past three days [1] Group 1: Company Overview - Amlogic Co., Ltd. is located in Shanghai and was established on July 11, 2003, with its IPO on August 8, 2019 [1] - The company specializes in the research, design, and sales of system-level SoC chips and peripheral chips, with 99.98% of its revenue coming from product sales and 0.02% from leasing services [1] Group 2: Shareholder Insights - E Fund's fund, the E Fund SSE STAR 50 ETF (588080), is among the top ten circulating shareholders of Amlogic, having increased its holdings by 475,300 shares in Q2, now holding 13.95 million shares, which is 3.31% of the circulating shares [2] - The fund has generated an estimated floating profit of approximately 46.59 million CNY today and 184 million CNY over the past three days [2] - The E Fund SSE STAR 50 ETF was established on September 28, 2020, with a current size of 62.68 billion CNY and a year-to-date return of 42.54% [2] Group 3: Fund Performance - The E Fund SSE STAR Artificial Intelligence ETF (588730) has also increased its holdings in Amlogic by 21,620 shares in Q2, now holding 603,800 shares, which constitutes 5.65% of the fund's net value [3] - This fund has achieved a floating profit of approximately 2.02 million CNY today and 7.96 million CNY over the past three days [3] - The E Fund SSE STAR Artificial Intelligence ETF was established on January 16, 2025, with a current size of 759 million CNY and a cumulative return of 53.52% since inception [3]