根据披露的机构调研信息2025年8月19日，泉果基金对上市公司虹软科技进行了调研。 基金市场数据显示，泉果基金成立于2022年2月8日。截至目前，其管理资产规模为163.96亿元，管理基 金数6个，旗下基金经理共5位。旗下最近一年表现最佳的基金产品为泉果旭源三年持有期混合A （016709），近一年收益录得43.78%。 截至2025年8月20日，泉果基金近1年回报前7非货币基金业绩表现如下所示： 基金代码基金简称近一年收益成立时间基金经理016709泉果旭源三年持有期混合A43.782022年10月18日 赵诣 016710泉果旭源三年持有期混合C43.212022年10月18日赵诣 018329泉果思源三年持有期混合 A33.642023年6月2日刚登峰 018330泉果思源三年持有期混合C33.122023年6月2日刚登峰 019624泉果嘉 源三年持有期混合A23.452023年12月5日钱思佳 019625泉果嘉源三年持有期混合C22.952023年12月5日 钱思佳 020855泉果泰然30天持有期债券A1.292024年4月16日钱思佳 徐缘 附调研内容： 第一部分、公司2025年半年度主要财务 ...

根据披露的机构调研信息2025年8月15日，泉果基金对上市公司工业富联进行了调研。 基金市场数据显示，泉果基金成立于2022年2月8日。截至目前，其管理资产规模为163.96亿元，管理基 金数6个，旗下基金经理共5位。旗下最近一年表现最佳的基金产品为泉果旭源三年持有期混合A （016709），近一年收益录得40.15%。 截至2025年8月15日，泉果基金近1年回报前7非货币基金业绩表现如下所示： 基金代码基金简称近一年收益成立时间基金经理016709泉果旭源三年持有期混合A40.152022年10月18日 赵诣 016710泉果旭源三年持有期混合C39.582022年10月18日赵诣 018329泉果思源三年持有期混合 A31.292023年6月2日刚登峰 018330泉果思源三年持有期混合C30.762023年6月2日刚登峰 019624泉果嘉 源三年持有期混合A22.422023年12月5日钱思佳 019625泉果嘉源三年持有期混合C21.942023年12月5日 钱思佳 020855泉果泰然30天持有期债券A1.362024年4月16日钱思佳 徐缘 附调研内容： 泉果基金Q1:祝贺公司在上半年取得的成 ...

Core Viewpoint - The news highlights the recent research and development activities of Shunlian Bio, particularly in the field of innovative biopharmaceuticals, and the strategic investment by QuanGuo Fund in the company, indicating a shift towards human biological products alongside its traditional focus on animal vaccines [1][9]. Group 1: Company Overview - QuanGuo Fund conducted a survey on Shunlian Bio from August 6 to August 8, 2025, focusing on the company's recent operational status and product development [1]. - Shunlian Bio has invested in Yangzhou Shizhi Yuan Biotechnology Co., which specializes in innovative drug development and clinical trials, with a focus on HIV and allergy treatments [2][5]. Group 2: Product Development - The HIV treatment monoclonal antibody drug (UB-421) is designed to block HIV from entering host cells, showing lower resistance mutation rates compared to existing treatments, and has entered clinical trials in China [3][4]. - The anti-allergy monoclonal antibody drug (UB-221) targets IgE to treat allergic diseases, with ongoing clinical trials for chronic spontaneous urticaria in China [5]. - The herpes simplex virus monoclonal antibody drug (UB-621) aims to provide new treatment options for recurrent genital herpes, with plans for clinical trials based on overseas results [6]. Group 3: Strategic Investment and Future Plans - Shunlian Bio holds a 20.48% stake in Yangzhou Shizhi Yuan and has the right of first refusal for future capital increases or acquisitions [6]. - The company plans to leverage its management and R&D capabilities to accelerate clinical trials and commercialization of innovative drugs [7]. - Shunlian Bio is exploring collaborations with domestic universities for functional cure research and aims to enhance treatment options for patients with low viral loads [4]. Group 4: Market Position and Future Strategy - The company is developing multi-valent vaccines in collaboration with the Chinese Academy of Agricultural Sciences to meet market demands and improve production capacity [8]. - Shunlian Bio's strategic vision includes expanding into the human pharmaceutical market while maintaining a strong focus on animal health products, supported by significant R&D investments [9].

Group 1 - The core point of the news is that the company 德福科技 is acquiring 100% equity of Circuit Foil Luxembourg for a purchase price of €1.74 billion, which is part of its strategy to enhance its position in the high-end IT copper foil market [2][3][4] - The acquisition is expected to increase 德福科技's total electrolytic copper foil production capacity from 175,000 tons per year to 191,000 tons per year, making it the world's largest producer in this sector [8] - The target company, Circuit Foil Luxembourg, has a strong R&D capability and is the only non-Japanese leader in high-end IT copper foil technology, with a production capacity of 16,800 tons per year [4][5] Group 2 - Circuit Foil Luxembourg reported a revenue of €13.4 million in 2024, with a net profit of -€370,000, but turned profitable in Q1 2025 with a net profit of €1.67 million [7] - The acquisition will allow 德福科技 to leverage Circuit Foil's brand and product advantages to expand into emerging markets, particularly in the Asia-Pacific region [8] - 德福科技's R&D investment in 2024 was ¥183 million, a year-on-year increase of 30.45%, indicating a strong commitment to innovation in the high-frequency and ultra-thin copper foil technology [9][10]

Core Viewpoint - The article discusses the recent research conducted by QuanGuo Fund on the listed company Huichen Co., highlighting its strong performance in the data and AI sectors, as well as its strategic focus on providing comprehensive solutions in data, algorithms, and computing power. Company Overview - Huichen Co. was established in 2008 and is based in Beijing, specializing in commercial and public service sectors, serving over 2,000 clients, including Fortune 500 companies and leading brands in various industries [2][3]. - The company has developed core competencies in data collection, analysis, governance, circulation, and application, leveraging digital and AI technologies to enhance client value [3][4]. Business Model and Technology - The company operates as a comprehensive service provider for "data elements + AI" applications, focusing on data, algorithm models, and computing infrastructure [3][4]. - It utilizes advanced technologies such as big data, machine learning, deep learning, and natural language processing to drive the monetization of data assets and the application of AI [3][4][5]. - Huichen Co. has developed proprietary models for text, audio, and digital personas, and has launched the "Hui AI Intelligent Application Platform" to meet client needs for cost reduction and efficiency improvement [4][5]. Data Accumulation and Analysis - The company has accumulated extensive experience in data analysis over the past decade, serving various large and medium-sized commercial clients and public service institutions [6][7]. - Data collection and procurement costs have historically accounted for over 50% of revenue, indicating a strong commitment to data-driven services [7]. - Huichen Co. has developed a range of industry-specific data analysis technologies and models, which have been patented and are integral to its service offerings [7][8]. AI and Computing Power Solutions - The company has launched a one-stop product for intelligent computing resource management, enhancing operational efficiency and supporting diverse AI application needs [9][10]. - Recent collaborations have led to the development of an "AI Public Computing Power Platform Software" project, which includes software installation, system integration, and ongoing technical support [9][10]. - Huichen Co. is actively exploring private deployment of AI agents in sectors such as consumer goods and tobacco, with ongoing projects for major brand clients [6][8]. Future Strategy - The company aims to continue focusing on its core business areas of data, algorithms, and computing power, striving to create more value in the digital and intelligent era [11][12]. - It has initiated a stock incentive plan to enhance team cohesion and performance, reflecting confidence in achieving its operational goals and delivering shareholder value [12].

Group 1 - The core point of the article highlights that Xinquan Co., Ltd. has experienced a continuous decline in stock price, with a cumulative drop of -11.37% over 10 trading days [1] - Xinquan Co., Ltd. specializes in the design, manufacturing, and sales of automotive interior and exterior trim parts and molds, and is listed on the Shanghai Stock Exchange with the stock code 603179 [1] - The financial report indicates that the fund "Quan Guo Xu Yuan Three-Year Holding Period Mixed A" under Quan Guo Fund has increased its holdings in Xinquan Co., Ltd. during the second quarter of this year, achieving a year-to-date return of 5.17%, ranking 3510 out of 4530 in its category [1] Group 2 - The fund manager of "Quan Guo Xu Yuan Three-Year Holding Period Mixed A" is Zhao Yi, who has a background in engineering and has held various positions in investment and research roles [2] - Zhao Yi has managed the fund since October 18, 2022, and the fund currently has a total scale of 112.01 billion [2] - The fund management company, Quan Guo Fund Management Co., Ltd., was established in February 2022 and has eight shareholders, with the chairman and general manager each holding 35% of the shares [2]

Core Viewpoint - The article discusses the recent research conducted by QuanGuo Fund on the listed company YuNong Commercial Bank, highlighting the fund's performance and the bank's competitive advantages in the retail banking sector. Group 1: Fund Performance - QuanGuo Fund was established on February 8, 2022, and currently manages assets totaling 16.396 billion yuan across six funds with five fund managers [1] - The best-performing fund in the past year is QuanGuo XuYuan Three-Year Holding Mixed A (016709), which recorded a return of 31.73% [1][2] - As of July 25, 2025, the top six non-monetary funds' performance over the past year includes returns of 31.73% for fund 016709 and 31.21% for fund 016710 [2] Group 2: Competitive Advantages of YuNong Commercial Bank - The bank's core competitive advantage lies in its extensive service network, providing "zero-distance" financial services, ensuring coverage in all districts and counties [1] - The bank focuses on rural finance, maintaining a strong presence in county and rural areas, with a network that ensures service availability at the grassroots level [1] - The bank adopts a customer-centric service philosophy, continuously optimizing its product system and enhancing customer experience through digital transformation and professional service teams [1] Group 3: Risk Management and Revenue Stability - As of the end of 2024, the bank reported a 0% non-performing loan ratio in the real estate sector, indicating manageable overall risk [3] - The bank aims to optimize its credit structure and enhance risk management through digital transformation and data integration, focusing on pre-loan investigations and post-loan warnings [3] - The bank plans to balance non-interest income and interest income stability by diversifying non-interest income sources and expanding investment trading opportunities [3][4]

Group 1 - The core viewpoint of the article highlights the recent performance and strategic plans of Ding Tai Gao Ke, as well as the investment interest from Quan Guo Fund [1][2] - Quan Guo Fund was established on February 8, 2022, and currently manages assets totaling 16.396 billion yuan across six funds, with five fund managers [1] - The best-performing fund in the past year is Quan Guo Xu Yuan Three-Year Holding Mixed A (016709), achieving a return of 24.82% [2] Group 2 - In Q1 2025, Ding Tai Gao Ke reported an operating income of 423 million yuan, representing a year-on-year growth of 27.21%, and a net profit attributable to shareholders of 72.5844 million yuan, up 78.51% [3] - The company's products in the PCB sector include PCB tools (drill bits, milling cutters), grinding and polishing materials, and smart devices, with PCB-related products accounting for approximately 85% of total revenue in 2024 [3][4] - The company has sufficient orders for drill bits, and plans to accelerate the construction of the PCB micro drill investment project to expand capacity [4][5] Group 3 - The annual production capacity of the PCB micro drill investment project is expected to reach 480 million units, with a monthly average capacity of 40 million units [5] - The Thai factory's overall planned capacity for drill bits was initially set at 10 million units but is now expected to reach 15 million units after adjustments [5] - The main customers in the PCB sector include Shenghong Technology, TTM Group, and others, with a direct sales model being the primary sales approach [6] Group 4 - The demand for drill bits in the AI sector has increased due to higher technical and quality requirements, leading to structural changes in product demand [6][7] - The average price of drill bits has been stable or slightly increasing due to a focus on high-end products and self-developed coating technologies [7] - The establishment of a subsidiary in Germany aims to create a platform for technical exchange and local service networks in Europe and the US [8] Group 5 - The company has implemented an equity incentive plan to enhance operational performance, with challenging performance targets set for the year [8]

Company Overview - Enjie Co., Ltd. (stock code: 002812) was listed on the A-share market in China in September 2016, focusing on "new energy" and "packaging" business sectors [1] - The company offers three main product categories: membrane products, packaging printing products, and paper packaging, serving large global lithium battery manufacturers, cigarette producers, food and beverage companies, plastic packaging firms, and printing enterprises [1] Financial Performance - Enjie Co., Ltd. has experienced a decline in stock price, with a cumulative drop of -2.83% over four consecutive trading days as of July 14 [1] - The fund "Quanguo Xuyuan Three-Year Holding Period Mixed A" under Quanguo Fund has increased its holdings in Enjie Co., Ltd. during the first quarter of this year, achieving a year-to-date return of 2.25%, ranking 3560 out of 4561 in its category [1] Fund Management - The fund manager of "Quanguo Xuyuan Three-Year Holding Period Mixed A" is Zhao Yi, who has a background in engineering and extensive experience in investment management [2][3] - Zhao Yi has managed the fund since October 2022, with the fund currently having a total scale of 115.61 billion and a return of -23.23% during his tenure [3]

Group 1 - The company has made a commitment not to reduce or transfer shares held by its actual controllers for 12 months starting from July 7, 2025, following the unlocking of 224 million shares [1] - The company has successfully acquired JAI and is actively integrating both companies' operations, focusing on enhancing their core competitiveness and market influence in the international market [1] - The consumer electronics industry is experiencing a mild recovery, driven by AI technology, new product iterations, and supportive government policies, which collectively contribute to a positive outlook for the sector [1] Group 2 - The company is focusing on domestic substitution in configurable vision systems and upgrading industrial intelligent production lines as key growth drivers in the consumer electronics sector [1] - The company is committed to sustainable development by expanding product offerings and conducting market research to meet future product demands [1] - The company is enhancing algorithm versatility and usability to meet new market demands, achieving high accuracy in defect detection models [1] Group 3 - The company is investing in research and development for next-generation products in key areas such as consumer electronics, new energy, and semiconductors, collaborating with major clients like Foxconn [1] - The integration of visual technology, AI algorithms, and big data analysis into manufacturing processes is expected to improve production efficiency and product quality [1] - The company has developed a comprehensive solution for humanoid robots, including high-precision quality control systems for mass production [2]