Group 1 - The core point of the articles highlights the increasing trend of fund liquidations within Shenwan Hongyuan Fund, particularly focusing on the recent closures of Shenwan Hongyuan Carbon Neutrality Select and Shenwan Hongyuan Pension Target Date 2040 Three-Year Holding Fund due to insufficient asset sizes [1][2] - Shenwan Hongyuan Carbon Neutrality Select had a combined scale of 833.36 thousand yuan, while Shenwan Hongyuan Pension Target Date 2040 Three-Year Holding Fund had a scale of 2,525.83 thousand yuan, both significantly below the 20 million yuan threshold for automatic termination [1] - The company has seen multiple fund liquidations this year, including Shenwan Hongyuan Shuangxi Mixed Fund and Shenwan Hongyuan Xinxiang Stable Mixed Fund, both of which also faced liquidation due to not meeting the 20 million yuan minimum asset requirement [1] Group 2 - A significant number of Shenwan Hongyuan's non-initiated funds are at risk of liquidation, with several funds having scales below 5 million yuan, indicating a broader issue within the company's fund management strategy [2] - Among initiated funds, over 800 products are expected to face a critical evaluation in the coming year due to their asset sizes being below 20 million yuan, which could lead to further liquidations [2] - The overall market has seen 279 funds liquidated this year, with 61 of those being initiated funds, reflecting a concerning trend in the investment landscape, particularly for funds focused on sectors like renewable energy and pharmaceuticals [2]