Group 1 - The core point of the news is that Juhua Technology's stock price has dropped by 5.18%, currently trading at 18.50 CNY per share, with a total market capitalization of 9.512 billion CNY [1] - Juhua Technology, established on April 6, 2006, and listed on January 21, 2014, specializes in smart metering and collection systems, smart power terminals, IoT smart water meters, and other IoT products, with the main business revenue composition being 80.26% from smart metering and collection systems [1] - The trading volume for Juhua Technology reached 1.863 billion CNY, with a turnover rate of 18.57% [1] Group 2 - Xinyuan Fund has one fund heavily invested in Juhua Technology, specifically the Xinyuan Specialized and Innovative Mixed A Fund (015071), which holds 436,200 shares, accounting for 6.1% of the fund's net value [2] - The Xinyuan Specialized and Innovative Mixed A Fund has a total scale of 96.9646 million CNY and has achieved a year-to-date return of 34.7% [2] - The fund manager, Lu Yang, has been in position for 2 years and 112 days, with the best fund return during his tenure being 54.38% [3]

Core Viewpoint - Anxu Bio (688075.SH) reported its Q3 2025 results, highlighting a significant presence of institutional investors holding 39.66% of its total shares, with a slight decrease in institutional ownership compared to the previous quarter [1] Institutional Investors - As of October 30, 2025, five institutional investors disclosed holdings in Anxu Bio, totaling 50.3993 million shares, which represents 39.66% of the company's total share capital [1] - The institutional ownership decreased by 0.19 percentage points compared to the previous quarter [1] Public Funds - Two public funds increased their holdings during this period, namely Guangfa Value Core Mixed A and Xinyuan Specialized and New Mixed A, with an increase in holdings accounting for 0.44% [1] - A total of 46 public funds did not disclose their holdings this quarter, including notable funds such as Bosera Phoenix Leading Mixed A and Morgan Stanley Multi-Factor Strategy Mixed [1]

Core Insights - The A-share market has shown an overall upward trend since 2025, with certain equity funds, particularly the Xinyuan Digital Economy Mixed A Fund, achieving significant performance and scale growth [1][4]. Fund Performance - As of September 18, the Xinyuan Digital Economy Mixed A Fund has achieved a return of 62.38% over the past year, significantly outperforming the CSI 300 Index, which recorded a return of 41.85% during the same period [4][6]. - The fund's net value has increased by 23% this year alone [4]. - Since its inception in July 2023, the fund's cumulative net value has risen by 44.05%, while the CSI 300 Index has only increased by 18.21% [6]. Investment Strategy - The fund manager, Lu Yang, employs a dynamic adjustment strategy to manage positions and control drawdowns [7][8]. - The fund's investment strategy focuses on digital economy-related securities while maintaining strict risk control [3]. - In response to market conditions, the fund reduced its equity investment from 86.53% at the end of 2024 to 62.34% by the end of the first quarter of 2025, allowing it to effectively manage risks during market fluctuations [8]. Major Holdings - As of the second quarter of 2025, the fund's major holdings include Haier Smart Home, Boss Electric, Linglong Tire, CIMC Vehicles, and Xinbao Co., with a focus on the TMT sector, covering electronics and home appliances [2][9]. - The equity investment accounted for 64.74% of the fund's total assets [9]. Comparison with Other Funds - Another fund managed by Lu Yang, the Xinyuan Specialized and New Mixed A Fund, has also performed well, achieving a return of 57.05% over the past year, exceeding its performance benchmark by over 10 percentage points [10].