Core Viewpoint - Huanxin Environmental (301265.SZ) reported its Q3 2025 results, highlighting a total institutional ownership of 73.632 million shares, representing 24.30% of the company's total equity, with a slight decline in institutional ownership compared to the previous quarter [1] Institutional Ownership - As of October 26, 2025, five institutional investors disclosed their holdings in Huanxin Environmental, with a combined ownership of 73.632 million shares, accounting for 24.30% of the total shares [1] - The institutional ownership percentage decreased by 0.83 percentage points compared to the previous quarter [1] Public Fund Disclosure - In this reporting period, 26 public funds were disclosed, including notable funds such as Invesco Great Wall Growth Enterprise Index Enhanced A, Morgan Stanley ESG Quantitative Mixed, and GF Value Leading Mixed A [1]

Core Viewpoint - Hongxin Technology (301539.SZ) reported its semi-annual results for 2025, highlighting an increase in institutional investor holdings and the introduction of a new public fund [1] Group 1: Institutional Holdings - As of August 26, 2025, five institutional investors disclosed holdings in Hongxin Technology A-shares, totaling 27.4578 million shares, which represents 18.55% of the company's total equity [1] - The institutional investors include Taizhou Jiesheng Investment Partnership (Limited Partnership), Taizhou Qixin Enterprise Management Consulting Partnership (Limited Partnership), BARCLAYS BANK PLC, J.P. Morgan Securities PLC - proprietary funds, and Hongde CSI A500 Index Enhanced A [1] - Compared to the previous quarter, the total institutional holding percentage increased by 0.43 percentage points [1] Group 2: Public Fund Disclosure - During this reporting period, one new public fund was disclosed, namely Hongde CSI A500 Index Enhanced A [1]

Core Insights - Jun Cheng Technology (301106.SZ) released its semi-annual report for 2025, indicating a total of 29.20% of its shares are held by institutional investors as of August 25, 2025 [1] Institutional Holdings - A total of 6 institutional investors disclosed their holdings in Jun Cheng Technology, amounting to 29.67 million shares [1] - The institutional investors include Jiangsu Jun Cheng Investment Management Partnership, Industrial and Commercial Bank of China - Dacheng CSI 360 Internet + Big Data 100 Index Fund, GF Securities - Baodao Growth Intelligent Navigation Fund, J.P. Morgan Securities PLC, Hongde CSI A500 Index Enhanced A, and Chuangjin Hexin Qifu Preferred Stock Initiation A [1] - Compared to the previous quarter, the total institutional holding percentage increased by 0.36 percentage points [1] Public Fund Holdings - In this period, 2 public funds increased their holdings compared to the previous period, including Baodao Growth Intelligent Navigation Stock A and Dacheng CSI 360 Internet + Index A, with an increase in holding percentage of 0.11% [1] - Additionally, 2 new public funds disclosed their holdings this quarter, namely Hongde CSI A500 Index Enhanced A and Chuangjin Hexin Qifu Preferred Stock Initiation A [1]

Core Insights - Index investing has seen significant growth globally, with enhanced index strategies emerging as a new opportunity in the capital markets [1][2] - As of June 20, 2023, 76 new enhanced index funds were established this year, with a total scale of 37.628 billion yuan, setting a new record [1][2] - 87% of enhanced index funds have outperformed their benchmarks, with 25 funds achieving excess returns of over 7% [1][3] Group 1: Growth of Enhanced Index Funds - The issuance of enhanced index funds has surged, with a year-on-year increase of 443% in the number of products and 767% in scale [2] - This growth reflects market enthusiasm and investor recognition of these innovative investment tools [2] Group 2: Advantages of Enhanced Index Funds - Enhanced index funds offer lower management and trading costs compared to traditional actively managed funds [2] - These funds utilize quantitative models and AI technology to efficiently select promising stocks, enhancing their performance [2] - High transparency allows investors to clearly understand the fund's portfolio and the tracked index, aiding in risk and return assessment [2] Group 3: Performance and Selection Criteria - Two enhanced index products tracking the CSI A500 have exceeded 7% excess returns this year, demonstrating effective performance [3] - Investors should prioritize funds with low tracking errors and assess historical performance for excess return capabilities [3][4] - The technical strength of fund managers in AI and quantitative models, along with fund size, liquidity, and fee structure, are critical factors for investors to consider [4]