Group 1 - The core point of the news is that Dawi Technology (600589.SH) reported its Q3 2025 results, revealing that 11 institutional investors hold a total of 286 million shares, accounting for 19.25% of the company's total equity [1] - The top ten institutional investors include Beijing Urban Intelligent Computing Information Industry Partnership, Beijing Huazhu Technology Co., Ltd., and others, with their combined holding ratio decreasing by 2.37 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, two funds increased their holdings, while three funds decreased their holdings, indicating a slight increase in the proportion of holdings among public funds [2] - One new public fund was disclosed during this period, while 56 public funds were not disclosed compared to the previous quarter, including notable funds like Yongying Digital Economy Smart Selection Mixed Fund [2] - Regarding foreign investment, one foreign fund reduced its holdings, with a decrease of 0.18% compared to the previous quarter, and several foreign institutions were not disclosed this period [2]

Core Insights - Laplace (688726.SH) reported its Q3 2025 results on October 30, 2025, highlighting significant institutional investor interest with a total of 159 million shares held, representing 39.17% of the company's total equity [1] Institutional Holdings - As of October 29, 2025, nine institutional investors disclosed their holdings in Laplace, with a combined shareholding of 159 million shares, which is an increase of 0.03 percentage points compared to the previous quarter [1] - Notable institutional investors include Dalian Liancheng CNC Machine Co., Ltd., Anshi New Energy Materials (Shanghai) Co., Ltd., and several private equity and fund management partnerships [1] Public Fund Participation - The report indicates that there were 185 public funds that did not disclose their holdings in the current quarter, with notable funds including Changxin Quality Enterprise Mixed A, Penghua Sci-Tech Innovation Board New Energy ETF, and others [1]

Core Insights - KOTAI Power (300153.SZ) reported its Q3 2025 results, revealing that 23 institutional investors hold a total of 143 million shares, accounting for 44.75% of the company's total equity [1] - The top ten institutional investors collectively hold 44.47% of KOTAI Power's shares, with a 0.93 percentage point increase from the previous quarter [1] Institutional Holdings - The number of institutional investors holding KOTAI Power shares has reached 23, with a total holding of 143 million shares [1] - The top ten institutional investors include KOTAI Holdings Ltd., Xinjiang Rongxu Tai Investment Partnership, and several mutual funds and insurance products [1] - The proportion of shares held by the top ten institutional investors increased by 0.93 percentage points compared to the last quarter [1] Public Fund Activity - Two public funds increased their holdings in KOTAI Power, while nine funds reduced their holdings, with a total decrease of 0.38% [2] - Six new public funds disclosed their holdings in KOTAI Power, while 184 funds did not disclose their holdings this quarter [2] Foreign Investment - One new foreign institution, Hong Kong Central Clearing Limited, disclosed its holdings in KOTAI Power this quarter [2]

从历史业绩看，徐亦达管理过的产品中，半数任职回报为负：他管理湘财长顺混合发起式A近4年的回 报率为-21.77%，管理湘财周期轮动一年持有混合近4年的回报率为-17.77%，管理湘财均衡甄选混合A 近2年的回报率为-13.34%，管理湘财研究精选一年持有期混合A超2年的回报率接近-12%，湘财长源股 票型A近4年的回报率-0.67%。 清仓式卸任全部在管基金，部分产品任职回报不佳 【深圳商报讯】（记者 詹钰叶）湘财基金日前公告公司研究部总经理徐亦达清仓式卸任全部在管基 金，原因为"离职"。记者注意到，徐亦达部分产品任职回报不佳，公司投研团队中，投资总监与首席策 略师旗下也有部分产品业绩较差。 据湘财基金官网信息，离职前，徐亦达为公司研究部总经理，加入湘财基金前曾任中国银行总行产品经 理、盛盈资本研究员、东吴基金研究员等。今年以来他数次卸任基金产品，在今年2月21日卸任湘财研 究精选一年持有期混合，5月13日卸任湘财均衡甄选混合与湘财医药健康混合，8月1日卸任湘财周期轮 动一年持有混合。去年他也卸任了多只产品。 湘财均衡甄选混合A今年以来的收益接近-3%，跑输同期基准收益率14个百分点。拉长时间来看，湘财 创新 ...

Market Performance - On August 22, all three major A-share indices closed higher, with the Shanghai Composite Index rising by 1.45% to 3825.76 points, the Shenzhen Component Index increasing by 2.07% to 12166.06 points, and the ChiNext Index gaining 3.36% to 2682.55 points [1] Fund Manager Changes - In the past 30 days (July 23 to August 22), 495 fund managers have left their positions across various funds, with 17 announcements made on August 22 alone. The reasons for these changes include job transitions, personal reasons, and product expirations [3][4] - Notable fund managers who left include Cheng Tao, who managed multiple funds and left due to job changes, and Liang Chaoyi, who left for personal reasons [4][6] Fund Manager Performance - Yi Fangfei, a current fund manager at Bank of China Fund, manages assets totaling 30.371 billion yuan, with the highest return of 35.49% achieved during his tenure on the Zhongyin Fengrun Regular Open Bond Fund [4] - Wu Xiao from China Merchants Fund has managed assets of 9.232 billion yuan, with a notable return of 145.96% on the Guotou Ruijin Ruiying Mixed Fund during his tenure [5] Fund Research Activity - In the last month, Bosera Fund conducted the most company research, engaging with 68 listed companies, followed by Penghua Fund with 65 and Huaxia Fund with 63 [8] - The chemical products industry was the most researched sector, with 288 instances, followed by the chemical pharmaceuticals sector with 246 instances [8] Recent Company Focus - In the past week (August 15 to August 22), Baiya Co., a company in the disposable personal hygiene products sector, was the most researched, with 65 fund institutions participating in the research [9][10] - Other companies receiving significant attention include Kaili Medical and Ziguang Guowei, with 55 and 54 fund institutions respectively [10]