Core Insights - Kunheng Shunwei (688283.SH) reported its Q3 2025 results, revealing that as of October 28, 2025, four institutional investors held a total of 28.2434 million shares, representing 23.19% of the company's total equity [1] - The institutional holding percentage increased by 13.65 percentage points compared to the previous quarter [1] Institutional Investors - The institutional investors include Minsheng Securities - Wu Jiangnian - Minsheng Securities Tianyi Select Private Asset Management Plan No. 2, Minsheng Securities - Bank of China - Minsheng Securities Tianyi Flexible Allocation No. 6 Collective Asset Management Plan, Guotai Fund Management Co., Ltd. - Social Security Fund 2103 Portfolio, and Guotai Jiatai Stock Special Pension Product - China Merchants Bank Co., Ltd. [1] - The total institutional holding percentage stands at 23.19% [1] Public Funds - A total of 54 public funds were disclosed this period, including E Fund Strategic Emerging Industries Stock A, Fuguo New Vitality Flexible Allocation Mixed A, E Fund Quality Momentum Three-Year Holding Mixed A, and others [1] Social Security Funds - One social security fund increased its holdings compared to the previous period, specifically Guotai Fund Management Co., Ltd. - Social Security Fund 2103 Portfolio, with an increase of 0.43% [1]

Group 1 - Core viewpoint: Puyuan Precision Electric (688337.SH) reported its Q3 2025 results, indicating significant institutional investor interest with 18 institutions holding a total of 92.0044 million shares, representing 47.40% of the total share capital [1] - The top ten institutional investors collectively hold 45.65% of the shares, with a slight decrease of 0.64 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, three funds increased their holdings, accounting for 0.31% of the total, while 168 funds were not disclosed in the current period [2] - One new social security fund disclosed its holdings in Puyuan Precision Electric, while one fund was not disclosed compared to the previous quarter [2]

Core Insights - In the first three quarters of this year, 98% of the 976 comparable ordinary equity funds achieved positive performance, with only 23 funds experiencing declines [1] Group 1: Top Performing Funds - The top four performing ordinary equity funds, namely Huaan Pharmaceutical Biotechnology Stock A, Huaan Pharmaceutical Biotechnology Stock C, E Fund Information Industry Select Stock A, and E Fund Information Industry Select Stock C, all saw their performance double, with increases of 103.31%, 102.65%, 102.03%, and 101.26% respectively [1] - Huaan Pharmaceutical Biotechnology Stock's second-quarter report indicates heavy investments in companies such as Innovent Biologics, CSPC Pharmaceutical Group, and others, with significant stock price increases, particularly for 3SBio, which surged over four times [1] - E Fund Information Industry Select Stock's top ten holdings are primarily in the semiconductor sector, including companies like NewEase, Huitian Technology, and Tencent Holdings [1] Group 2: Fund Management and Performance - The E Fund Information Industry Select Stock is managed by Zheng Xi, who has extensive experience in equity investment management and has held various roles within E Fund [2] - Other notable funds such as E Fund Strategic Emerging Industries Stock A and C, and Jiashi Mutual Selection Stock A and C, also reported over 90% increases in the first three quarters [2] - Jiashi Mutual Selection Stock focuses on pharmaceutical stocks, with major holdings in companies like Innovent Biologics and Hengrui Medicine, managed by Hao Miao, who has a strong background in biomedical research [2] Group 3: Underperforming Funds - The fund with the largest decline, Minsheng Jianyin Preferred Stock, fell by 7.39%, primarily investing in blue-chip consumer stocks [4] - The fund's top ten holdings include companies like CATL and BYD, with the current manager, Liu Hao, having less than a year of experience [4] - Other underperforming funds include Changxin Consumer Select Quantitative Stock and Qianhai Kaiyuan Traditional Chinese Medicine Stock, both down by over 5% [4]

Core Viewpoint - Huazheng New Materials has experienced a decline in stock price over five consecutive trading days, with a cumulative drop of -4.83% [1] Company Overview - Zhejiang Huazheng New Materials Co., Ltd. was established in 2003 and is a subsidiary of Huali Group, recognized as one of the earliest companies in China to engage in the research and production of epoxy resin copper clad laminates [1] - The company has been awarded the title of "Excellent National Brand Enterprise in China's Printed Circuit Industry" for five consecutive terms [1] Fund Involvement - Two funds managed by E Fund Management have entered the top ten shareholders of Huazheng New Materials, both of which are new investments in the first quarter of this year [1] - The two funds are E Fund Supply-side Reform Mixed Fund, which has a year-to-date return of 10.51% and ranks 898 out of 2291 in its category, and E Fund Strategic Emerging Industries Stock A, which has a year-to-date return of 33.55% and ranks 88 out of 983 [1] Fund Manager Profiles - Yang Zongchang, a chemical PhD, is the fund manager for E Fund Supply-side Reform Mixed Fund and has been in this role for over six years [4][5] - Ouyang Liangqi, an engineering PhD, is the fund manager for E Fund Strategic Emerging Industries Stock A and has been in this position for approximately two years [6]