Core Insights - Xizi Clean Energy (002534.SZ) reported its Q3 2025 results, revealing that 23 institutional investors hold a total of 632 million shares, accounting for 75.63% of the company's total equity [1] - The top ten institutional investors collectively hold 74.19% of the shares, with a decrease of 4.49 percentage points compared to the previous quarter [1] Institutional Holdings - The number of public funds that reduced their holdings this quarter is 2, including Huatai-PineBridge CSI Environmental Governance Index (LOF) A and Jiao Yin CSI Environmental Governance Index (LOF) A, with a slight decrease in holding percentage [2] - A total of 10 new public funds disclosed their holdings this quarter, including Huaxia Dual Bond A and various mixed funds from Caitong Asset Management [2] - 59 public funds did not disclose their holdings this quarter, including multiple ETFs tracking the CSI 1000 Index [2] Social Security Fund and Foreign Investment - One new social security fund disclosed its holdings in Xizi Clean Energy, namely the National Social Security Fund 118 Portfolio [3] - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.70% compared to the previous period [3]

Group 1 - Aikaisibo Electric Co., Ltd. experienced a decline of 5.01% on September 2, with a stock price of 41.16 yuan per share and a total market capitalization of 4.749 billion yuan [1] - The company specializes in the research, development, production, and sales of power electronic conversion and control equipment, and was established on January 19, 1996, with its listing date set for September 28, 2023 [1] Group 2 - Yongying Fund has a significant holding in Aikaisibo, with its fund "Yongying Manufacturing Upgrade Smart Selection Mixed Initiation A" (024202) holding 19,900 shares, accounting for 4.99% of the fund's net value, making it the ninth largest holding [2] - The fund has a total scale of 10.4382 million yuan and has achieved a return of 11.73% since its inception on June 11, 2025 [2] Group 3 - The fund manager of Yongying Manufacturing Upgrade Smart Selection Mixed Initiation A is Hu Ze, who has been in the position for 2 years and 91 days, managing assets totaling 2.639 billion yuan [3] - During Hu Ze's tenure, the best fund return was 135.48%, while the worst return was -3.28% [3]

Fund Overview - The fund is named Yongying Manufacturing Upgrade Smart Mixed Initiating Fund, with a main code of 024202, and it operates as a contractual open-end fund [4] - The fund aims to invest in assets related to the theme of manufacturing upgrades, striving for medium to long-term stable appreciation of net asset value while controlling risks [4] - The fund's investment strategies include macroeconomic research, asset allocation strategies, stock investment strategies, fixed income investment strategies, and various bond investment strategies [4] Performance Metrics - As of the end of the reporting period, the total fund shares amounted to 17,444,653.67 shares [4] - The net value growth rate for the fund's Class A shares was -2.76%, while the benchmark return was 2.52% [12] - The net value growth rate for the fund's Class C shares was -2.79%, with the same benchmark return of 2.52% [12] Investment Composition - The fund's total assets primarily consist of stocks, with a fair value of approximately 15,465,487.43 RMB, accounting for 90.66% of the total assets [13] - The manufacturing sector represents the largest portion of the fund's investments, with a fair value of 14,201,090.62 RMB, making up 83.73% of the fund's net asset value [13] - The fund has also invested in the construction industry, with a fair value of 987,392.00 RMB, representing 5.82% of the net asset value [13] Market Insights - The fund manager highlights the increasing focus on controllable nuclear fusion, with significant investments expected in the range of 150-200 billion RMB annually during the 14th Five-Year Plan period [9] - The potential for nuclear fusion to replace traditional energy sources like coal and solar power is emphasized, indicating a future market expansion that could yield substantial returns for investors [9] - Partnerships between tech companies and nuclear fusion firms are noted, suggesting a growing interest in stable energy sources for cloud computing [10][11]