Group 1 - The core viewpoint of the news is that institutional investors have increased their holdings in Purun Co., Ltd. (688766.SH), with a total of 34.36 million shares held, representing 23.26% of the total share capital as of August 21, 2025, which is an increase of 0.77 percentage points from the previous quarter [1] Group 2 - In the public fund sector, there was an increase in holdings from one public fund, Bosera Smart Selection Quantitative Multi-Factor Equity A, with an increase ratio of 0.11% [2] - Four new public funds disclosed their holdings this quarter, including Southern CSI 1000 ETF, Xin'ao New Energy Industry Equity A, Yongying Yixiang Bond A, and Zheshang Huijin Emerging Consumption [2] - Thirteen public funds were not disclosed this quarter, including Penghua Innovation-Driven Mixed, Baoying Semiconductor Industry Mixed Initiation A, and others [2] Group 3 - In the social security fund sector, there was an increase in holdings from one social security fund, the National Social Security Fund 114 Portfolio, with an increase ratio of 0.14% [2]

Core Insights - Zhejiang Zheshang Securities Asset Management Co., Ltd. announced the appointment of Chen Gujun to the management of the Zheshang Huijin Emerging Consumption Fund, while former manager Ye Fangqiang has stepped down [1] Fund Performance - The Zheshang Huijin Emerging Consumption Fund was established on May 29, 2020, and during Ye Fangqiang's tenure of 2.72 years, the total return was 13.79%, with an annualized return of 4.88%, ranking 501 out of 2097 in its category [1] - As of August 8, 2025, the total scale of the Zheshang Huijin Emerging Consumption Fund is 0.23 billion, with a year-to-date return of 15.25% and a total return of 12.81%, resulting in a cumulative net value of 1.1823 yuan [1]