Group 1: Fund Overview - Chunhou Xinxing C (Fund Code: 009939) is a mixed fund under Chunhou Fund, established on September 15, 2020, with a total management scale of 1.726 billion yuan [1] - The fund aims for long-term stable asset appreciation by conducting comprehensive and in-depth research on companies with long-term development potential and valuation advantages [1] - As of May 30, 2025, the fund achieved a one-year return of 14.85%, outperforming the benchmark growth rate of 10.05% and the CSI Mixed Fund Index return of 5.81% [1] Group 2: Risk Management and Performance - The maximum drawdown over the past three years was 30.46%, which is better than the average level of similar mixed funds [1] - The maximum drawdown recovery days were 246, ranking in the top 15 among similar mixed funds [1] - As of March 31, 2025, the fund's scale reached 0.74 billion yuan, with the latest announcement showing 0.51 billion shares outstanding [1] Group 3: Industry Insights - The company primarily produces magnesium alloy die-casting products for the automotive industry, including components for display systems, powertrains, and seating [2] - China is one of the richest countries in magnesium resources, with a projected global primary magnesium output of 1.12 million tons in 2024, a 12% year-on-year increase, and a 24.73% increase in China's output to 1.0258 million tons [2] - The demand for lightweight materials in the automotive sector, especially in electric vehicles, is driving the growth of magnesium alloy usage due to its low density and high specific strength [2] Group 4: Technological Innovations - The company offers integrated services including product design optimization, mold manufacturing, die-casting, and surface treatment, enhancing customer satisfaction and competitive advantages [2] - The company plans to utilize both traditional high-pressure die-casting and semi-solid die-casting methods to leverage their respective advantages for product diversification and market competitiveness [2] - The company is currently developing projects related to new energy vehicle powertrains and has already undertaken new projects in the first half of the year [2]

Group 1 - The core viewpoint of the article highlights the recent research conducted by Yongjin Investment on a listed company, Xingyuan Zhuomei, which specializes in magnesium alloy die-casting products primarily for the automotive sector [1] - In 2024, global primary magnesium production is projected to reach 1.12 million tons, representing a 12% year-on-year increase, while China's primary magnesium production is expected to be 1.0258 million tons, up 24.73% year-on-year [1] - The production of magnesium alloys is anticipated to be 396,800 tons, reflecting a year-on-year growth of 14.95% [1] - The automotive industry, particularly the new energy vehicle sector, has a high demand for lightweight materials, with magnesium alloys being approximately two-thirds the density of aluminum alloys and one-fourth that of steel, offering excellent damping and electromagnetic shielding properties [1] - The company provides integrated services including product design optimization, mold manufacturing, die-casting, precision machining, and surface treatment [1] - Future plans include utilizing both semi-solid forming and high-pressure die-casting processes to leverage their respective advantages [1] - The company has already secured new projects in the first half of the year, focusing on components for new energy vehicle powertrains and automotive display systems [1] - The product structure planned for the Fenghua factory will primarily focus on large precision magnesium alloy components for automotive applications [1]