Core Viewpoint - HSBC Jintrust Fund announced the departure of Wu Peiwen from multiple funds, indicating a significant change in fund management that may impact investor confidence and fund performance [1][2][3][4]. Fund Performance Summary - **HSBC Jintrust Leading Advantage Mixed Fund**: - Established on September 27, 2022 - Year-to-date return: 1.33% (A), 1.28% (C) - Since inception return: 7.81% (A), 5.99% (C) - Cumulative net value: 1.0781 (A), 1.0599 (C) [1] - **HSBC Jintrust Pearl River Delta Mixed Fund**: - Established on June 2, 2017 - Year-to-date return: 8.05% - Since inception return: 199.84% - Cumulative net value: 2.9984 [1] - **HSBC Jintrust Strategy Preferred Mixed Fund**: - Established on September 14, 2022 - Year-to-date return: 2.07% (A), 2.02% (C) - Since inception return: 48.59% (A), 46.22% (C) - Cumulative net value: 1.4859 (A), 1.4622 (C) [1] - **HSBC Jintrust Value Pioneer Stock Fund**: - Established on November 14, 2018 (A) and April 1, 2022 (C) - Year-to-date return: 7.08% (A), 7.01% (C) - Since inception return: 194.58% (A), 31.62% (C) - Cumulative net value: 2.8047 (A), 2.7505 (C) [2] Management Changes Summary - **HSBC Jintrust Leading Advantage Mixed Fund**: - New fund manager: Fei Bangsa - Departing fund manager: Wu Peiwen [3] - **HSBC Jintrust Pearl River Delta Mixed Fund**: - New fund manager: Wei Yu - Departing fund manager: Wu Peiwen [3] - **HSBC Jintrust Strategy Preferred Mixed Fund**: - New fund manager: Wei Yu - Departing fund manager: Wu Peiwen [3] - **HSBC Jintrust Value Pioneer Stock Fund**: - New fund manager: Li Xuewei - Departing fund manager: Wu Peiwen [4]

Core Insights - Tian De Yu (688252.SH) reported its Q3 2025 results, revealing that 12 institutional investors hold a total of 289 million shares, accounting for 70.77% of the total share capital [1] - The top ten institutional investors collectively hold 70.71% of the shares, with a decrease of 1.88 percentage points compared to the previous quarter [1] - There were two public funds that increased their holdings, while 188 public funds did not disclose their holdings this quarter [1] Institutional Holdings - The top institutional investors include Hengfeng Limited, Ningbo Qunzhi Optoelectronics Co., Ltd., Corich LP, and others [1] - The social security fund disclosed one new holding in Tian De Yu, specifically the Huatai-PineBridge Fund Management Co., Ltd. - Social Security Fund 1802 Portfolio [2] - Foreign investment showed mixed results, with one foreign fund increasing its holdings (Hong Kong Central Clearing Limited) by 0.58%, while Corich LP reduced its holdings by 1.40% [2] Public Fund Activity - The public funds that increased their holdings include Invesco Great Wall SSE STAR 50 Index Enhanced A and HSBC Jintrust Pearl River Delta Mixed Fund [1] - A significant number of public funds (188) did not disclose their holdings this quarter, including Southern STAR 3-Year Open Mixed Fund and others [1]

Group 1 - The core viewpoint of the news is that Runjian Co., Ltd. (002929.SZ) has reported its 2024 annual results, highlighting significant institutional investor interest with 82 institutions holding a total of 70.99 million shares, representing 25.19% of the total share capital [1] - The top ten institutional investors collectively hold 22.87% of the shares, with a 1.89 percentage point increase compared to the previous quarter [1] Group 2 - In the public fund sector, three funds reported a decrease in holdings compared to the previous quarter, with a total reduction of 0.23% [2] - A total of 41 new public funds disclosed their holdings this period, including notable funds such as GF CSI 1000 ETF and HSBC Jintrust Value Pioneer Stock A [2] - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings slightly compared to the previous period [2]