Core Viewpoint - The public fund industry is at a new historical starting point in 2025, with a series of reform plans aimed at enhancing research and investment capabilities, improving service to the real economy, and optimizing the industry development ecosystem, all centered around the principle of "investor-centric" reform [1] Group 1: Company Performance and Achievements - As of September 2025, over 97% of all products under the company have profitable holders, with profits exceeding 80 billion and dividends over 6 billion this year [1] - The company has consistently ranked first in absolute returns among large equity fund companies over the past 10, 7, and 5 years [5] - The fixed income investment performance has been stable, ranking in the top 20% for the past year, top 33% for the past three years, and top 25% for the past five years [5] Group 2: Product Innovation and Development - The company has developed nine major fund categories, including open-end funds, index funds, and public REITs, to meet diverse investor needs [2] - Recent product innovations include the launch of free cash flow ETFs, A500 enhanced ETFs, and floating fee rate products, along with initiatives in cross-market bond business [2] - The company is actively enhancing its product matrix to cater to different investment demands, focusing on areas like pension funds and public REITs [2] Group 3: Research and Investment Capability - The company emphasizes the importance of investment management capabilities as a core competitive advantage, advocating for a "platform-based, integrated, multi-strategy" research and investment system [3] - A centralized research platform combined with a diversified investment team has been established to enhance research efficiency and decision-making quality [4] - The investment team operates under a model that integrates research and investment, ensuring effective conversion of research outcomes into investment strategies [4] Group 4: Risk Management and Compliance - The company prioritizes risk management as a vital aspect of long-term development, continuously improving its internal control systems and risk management strategies [6] - A comprehensive risk management framework has been established to monitor and control investment risks throughout the entire process [6] - The company has successfully navigated significant market fluctuations over its 27-year history due to its robust compliance and risk management systems [6] Group 5: Commitment to High-Quality Development - The company is committed to building a first-class investment institution, guided by the principle of being investor-centric and focusing on long-term goals [7] - The company aims to respond to reforms with a commitment to its mission, striving for high-quality development in the public fund industry [7]