Group 1 - The core viewpoint of the news highlights the strong performance of Jin Ying Fund, with several of its funds ranking in the top 5% for excess returns over three and five years, showcasing its effective active management capabilities [1][2] - As of September 30, Jin Ying Fund's equity assets achieved excess returns of 40.45% and 119.49% over five and seven years, respectively, ranking 18th out of 141 and 23rd out of 118 in the industry, placing it in the top 20% [1] - The fixed income assets of Jin Ying Fund also performed well, with excess returns of 8.33% and 21.78% over five and seven years, ranking 27th out of 130 and 12th out of 108, respectively, placing it in the top 25% [1] Group 2 - Jin Ying Fund has reached a public fund asset management scale of 750.06 billion yuan as of September 30, marking a recent high [2] - The company emphasizes a shift in the public fund industry from scale-oriented to investor-interest-oriented development, focusing on high-quality growth [2] - Jin Ying Fund aims to create long-term value for investors through consistent service and education, aligning with its mission to safeguard returns for its clients [2]

Core Insights - He Lin Micro-Nano (688661.SH) reported its Q3 2025 results, revealing that as of October 29, 2025, 10 institutional investors held a total of 14.0526 million shares, representing 9.25% of the company's total share capital [1] - The top ten institutional investors include notable entities such as Suzhou Heyang Management Consulting Partnership, Industrial and Commercial Bank of China, and several funds managed by Ping An [1] - Compared to the previous quarter, the total holding percentage of the top ten institutional investors decreased by 1.37 percentage points [1] Fund Holdings - Among public funds, only one fund, Jin Ying Core Resource Mixed A, increased its holdings, while two funds, Jin Ying National Emerging Mixed A and Jin Ying Small and Medium Cap Selected Mixed A, reported a slight decrease in holdings [2] - Two new public funds, Guangfa CSI 2000 ETF and Penghua Hongxin Mixed A, were disclosed this quarter [2] - A total of 132 public funds were not disclosed this quarter, including Jin Ying Dividend Value Mixed A and Huashang Selected Return Mixed A [2]

Core Viewpoint - The A-share market experienced a slight decline after reaching the historical high of 3731 points in 2021, raising questions about investment opportunities and strategies for those who bought funds at that peak [1][4]. Market Performance - The three major indices in the A-share market closed lower today, with a trading volume close to 2.6 trillion yuan. Sectors such as liquor, real estate, and automobiles led the gains, while insurance and brokerage sectors saw a pullback [3][4]. - Analysts suggest that significant trading volume often leads to high volatility, and the current market remains active with no clear signs of capital withdrawal [3]. Fund Performance Since 2021 - Funds purchased at the 3731-point peak have shown varied performance, with some funds gaining over 200% since then. However, many investors are still waiting to break even [4][6]. - As of August 2025, the market has returned to around 3700 points, but many individual stocks have not recovered to their previous highs, indicating a disparity between index performance and individual stock performance [8]. Strategies for Investors - For investors whose funds have not yet returned to break-even, it is advised to maintain a rational approach and consider shifting from chasing hot stocks to a balanced allocation strategy. This includes dynamic adjustments to portfolios and setting stop-loss limits [9][12]. - Dollar-cost averaging through systematic investment plans can help reduce costs over time, especially during market downturns [9][10]. Market Outlook - The current market is characterized as a "healthy bull" market, supported by government policies and increasing capital inflows. This environment is expected to foster continued market confidence and potential upward movement [12][13]. - Investors are encouraged to adopt a balanced approach, using a "core-satellite" strategy to manage risk and avoid overexposure to any single investment [16][18].