2月24日，绿的谐波跌5.53%，截至发稿，报228.97元/股，成交14.68亿元，换手率3.31%，总市值419.77 亿元。 资料显示，苏州绿的谐波传动科技股份有限公司位于江苏省苏州市吴中区木渎镇尧峰西路68号，成立日 期2011年1月13日，上市日期2020年8月28日，公司主营业务涉及精密传动装置研发、设计、生产和销售 的高新技术企业。主营业务收入构成为：谐波减速器及金属部件78.33%，机电一体化产品16.56%，智 能自动化装备3.24%，其他1.87%。 从绿的谐波十大流通股东角度 数据显示，鹏华基金旗下1只基金位居绿的谐波十大流通股东。鹏华碳中和主题混合A（016530）三季 度减持7.71万股，持有股数182.13万股，占流通股的比例为0.99%。根据测算，今日浮亏损失约2442.3万 元。 鹏华碳中和主题混合A（016530）成立日期2023年5月5日，最新规模41.05亿。今年以来收益0.72%，同 类排名7490/8994；近一年收益43.57%，同类排名2121/8199；成立以来收益108.48%。 鹏华碳中和主题混合A（016530）基金经理为闫思倩。 截至发稿，闫思倩累计任职 ...

Group 1 - The core viewpoint of the news is that RY Electronics has seen a significant increase in its stock price, rising by 5.36% to reach 72.29 CNY per share, with a trading volume of 242 million CNY and a turnover rate of 3.01%, resulting in a total market capitalization of 8.487 billion CNY [1] - RY Electronics, established on August 12, 1998, and listed on June 27, 2017, is a leading domestic supplier of automotive parts, primarily engaged in the production of automotive wiring harnesses, washing systems, automotive electronics, and precision injection molding [1] - The company's revenue composition includes automotive parts at 47.62%, short transportation parts at 32.95%, smart home sensors at 13.13%, other supplementary products at 4.10%, and spare parts at 2.20% [1] Group 2 - Among the top circulating shareholders of RY Electronics, Penghua Fund's carbon neutrality theme mixed fund A (016530) reduced its holdings by 875,400 shares, now holding 711,700 shares, which accounts for 0.62% of the circulating shares [2] - The Penghua carbon neutrality theme mixed fund A was established on May 5, 2023, with a latest scale of 4.105 billion CNY, reporting a loss of 3.3% this year, ranking 8675 out of 8873 in its category, while achieving a one-year return of 46.63%, ranking 2019 out of 8123 [2]

Core Viewpoint - The market has recently shifted from a cooling trend to a rebound led by the electronics and non-ferrous metals sectors, with several large-cap active equity funds reaching new net asset value (NAV) highs [1][12]. Fund Performance - A total of 8 large-cap active equity funds achieved new NAV highs on January 19-20, 2026, indicating strong performance in the current market environment [2][12]. - The top-performing funds include: - **Guangfa Multi-Factor Mixed Fund**: NAV reached 168.64 billion, managed by Yang Dong and Tang Xiaobin, with a long-term annualized return of over 24% [3][14]. - **China Europe Dividend Preferred Flexible Allocation Mixed A**: NAV reached 168.38 billion, managed by Lan Xiaokang, with an average return exceeding 40% across three products in 2025 [3][14]. - **Yongying Advanced Manufacturing Intelligent Selection Mixed Fund A**: NAV reached 194.62 billion, managed by Zhang Lu [3][14]. Market Trends - The recent rebound in the electronics sector is crucial for the recovery of large-cap funds, particularly the **Xingquan He Run Fund**, which is close to recovering its maximum drawdown from 2021 [7][16]. - The **Xingquan He Run Fund** has a scale of nearly 250 billion and is only 2% away from its historical high, indicating a strong potential for recovery if the electronics sector maintains its momentum [8][16]. Investment Strategies - The funds that have performed well are characterized by their focus on value investing and long-term stability, avoiding short-term market trends [4][14]. - Fund managers who have successfully navigated recent market conditions include those who focused on technology and renewable energy sectors, demonstrating a strategic approach rather than relying on luck [6][15]. Additional Notable Funds - Other large-cap funds worth monitoring include: - **Ruiyuan Balanced Value Three-Year Fund** and **Guangfa Steady Growth Fund**, both of which have also shown resilience and are close to recovering from previous drawdowns [9][17].

从翔楼新材十大流通股东角度 截至发稿，闫思倩累计任职时间8年98天，现任基金资产总规模188.18亿元，任职期间最佳基金回报 306.25%， 任职期间最差基金回报8.81%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 1月20日，翔楼新材跌5.05%，截至发稿，报67.68元/股，成交2.45亿元，换手率4.86%，总市值75.88亿 元。 数据显示，鹏华基金旗下1只基金位居翔楼新材十大流通股东。鹏华碳中和主题混合A（016530）三季 度增持63.79万股，持有股数414.91万股，占流通股的比例为5.44%。根据测算，今日浮亏损失约1493.68 万元。 资料显示，苏州翔楼新材料股份有限公司位于江苏省苏州市吴江区八坼街道新营村学营路285号，成立 日期2005年12月8日，上市日期2022年6月6日，公司主营业务涉及定制化精密冲压特殊钢材料的研发、 生产和销售。主营业务收入构成为：汽车零部件精冲材料83.08%，工业用精冲材料10.69%，其他(补 充)5.4 ...

Group 1 - The core viewpoint of the news is that Jinwo Co., Ltd. experienced a stock price increase of 5.49%, reaching 66.50 yuan per share, with a total market capitalization of 8.197 billion yuan as of the report date [1] - Jinwo Co., Ltd. is primarily engaged in the research, production, and sales of bearing rings, with 95.72% of its revenue coming from this main business segment [1] - The company was established on June 14, 2011, and went public on June 18, 2021, indicating a relatively recent entry into the public market [1] Group 2 - Among the top circulating shareholders of Jinwo Co., Ltd., Penghua Fund's carbon neutrality theme mixed fund A (016530) reduced its holdings by 1.2763 million shares, now holding 3.6587 million shares, which represents 4.14% of the circulating shares [2] - The Penghua carbon neutrality theme mixed fund A has achieved a year-to-date return of 78.38%, ranking 205 out of 8170 in its category [2] - The fund was established on May 5, 2023, and has a current scale of 2.83 billion yuan [2]

Group 1 - The core viewpoint of the news is that the Penghua Carbon Neutral Theme Mixed Fund A/C experienced a decline in net value returns of 6.56% and 6.60% respectively in November 2023 [1] - As of the third quarter, the fund's scale was 12.349 billion yuan, focusing on sectors such as manufacturing, new energy, and new technologies, with a particular emphasis on embodied intelligence's impact on industrial revolution and manufacturing upgrades [1] - The fund manager, Yan Siqian, has a background as an analyst at Huachuang Securities and a business manager at Bank of China International Securities, and has been with Penghua Fund Management since January 2022 [1] Group 2 - The top ten holdings of the fund in the third quarter included Zhenyu Technology, Zhejiang Rongtai, Zhongjian Technology, Meihu Co., Longsheng Technology, Anpeilong, Siling Co., Hanwei Technology, Beite Technology, and Wuzhou New Spring [1] - The fund's performance in November indicates a challenging market environment, reflecting broader trends in the investment landscape [2]

Group 1 - The core viewpoint of the news is that Meilixin's stock price increased by 5.06% to 40.06 CNY per share, with a trading volume of 142 million CNY and a turnover rate of 3.31%, resulting in a total market capitalization of 8.437 billion CNY [1] - Meilixin Technology Co., Ltd. is located in Banan District, Chongqing, and was established on May 14, 2001, with its listing date on April 24, 2023 [1] - The company's main business involves the research, production, and sales of aluminum alloy precision die-casting parts in the communication and automotive sectors, with revenue composition as follows: automotive parts 64.79%, communication components 29.88%, other supplementary parts 3.84%, and other components 1.49% [1] Group 2 - Among the top ten circulating shareholders of Meilixin, Penghua Fund has a fund that entered the list, holding 1.7533 million shares, which accounts for 1.61% of the circulating shares, with an estimated floating profit of approximately 3.3838 million CNY [2] - The Penghua Carbon Neutrality Theme Mixed A Fund (016530) was established on May 5, 2023, with a latest scale of 2.83 billion CNY, achieving a year-to-date return of 81.68% and ranking 128 out of 8199 in its category [2] - The fund has a one-year return of 106.08%, ranking 35 out of 8131, and an overall return since inception of 80.26% [2]

Group 1 - The core viewpoint of the news is that Jinwo Co., Ltd. has seen a significant increase in its stock price, rising by 5.24% to reach 61.70 CNY per share, with a total market capitalization of 7.606 billion CNY [1] - Jinwo Co., Ltd. is primarily engaged in the research, production, and sales of bearing rings, with 95.72% of its revenue coming from this main business segment [1] - The company was established on June 14, 2011, and went public on June 18, 2021, indicating a relatively recent entry into the public market [1] Group 2 - Among the top circulating shareholders of Jinwo Co., Ltd., Penghua Fund's carbon neutrality theme mixed fund A (016530) has reduced its holdings by 1.2763 million shares, now holding 3.6587 million shares, which accounts for 4.14% of the circulating shares [2] - The Penghua carbon neutrality theme mixed fund A has achieved a year-to-date return of 78.08%, ranking 142 out of 8127 in its category, and a one-year return of 98.57%, ranking 43 out of 8059 [2] - The fund was established on May 5, 2023, and currently has a total asset size of 2.83 billion CNY [2]

Group 1 - The core viewpoint of the news is that Shengshi Technology has seen a significant stock price increase of 6.65%, reaching 31.29 CNY per share, with a trading volume of 215 million CNY and a turnover rate of 5.30%, resulting in a total market capitalization of 8.193 billion CNY [1] - Shengshi Technology, established on January 16, 1997, and listed on May 25, 2020, is a national high-tech enterprise based in Shenzhen, Guangdong, focusing on artificial intelligence, big data, and the Internet of Things, providing intelligent products and "AI + industry" solutions [1] - The company's main business revenue composition includes 89.54% from smart port inspection system solutions, 10.31% from intelligent transportation and others, and 0.14% from other supplementary services [1] Group 2 - Among the top circulating shareholders of Shengshi Technology, Penghua Fund's carbon neutrality theme mixed fund A (016530) has reduced its holdings by 934,800 shares, now holding 1,233,900 shares, which accounts for 0.92% of the circulating shares, with an estimated floating profit of approximately 2.4061 million CNY [2] - The Penghua Carbon Neutrality Theme Mixed Fund A was established on May 5, 2023, with a latest scale of 2.83 billion CNY, achieving a year-to-date return of 76.33%, ranking 193 out of 8,213 in its category, and a one-year return of 89.73%, ranking 44 out of 8,130 [2]

Core Insights - The A-share market has faced pressure in recent years, impacting active equity funds and leading to poor investor experiences. However, since the introduction of the 924 policy last year, the market has rebounded, with active equity funds achieving impressive returns in 2023 [1] - Active equity funds, including ordinary stock, equity hybrid, flexible allocation, and balanced hybrid funds, have recorded an average return of 32.44% in the first three quarters of 2025, significantly outperforming mainstream broad-based indices [1] - The current market environment has led to a pronounced structural differentiation, raising the bar for fund managers' research and investment capabilities [1] Company Developments - Penghua Fund, with 26 years of investment research experience, recognizes the need to adapt to the new market environment and trends by evolving its investment research culture, talent development, and product layout [1] - The company has established a continuously iterating investment research system and a comprehensive talent pipeline, offering diverse asset allocation solutions for investors with varying risk appetites [1] - As a result of its sustained efforts, Penghua Fund has received notable ratings, with 24 of its active equity products awarded five-star or AAAAA ratings by major institutions as of the end of Q3 2025 [2] Performance Highlights - Among the rated products, Penghua Medical Technology A has achieved top rankings in various time frames within the pharmaceutical and healthcare sector, while Penghua Innovation Upgrade A has also received high ratings across multiple institutions [2][3] - Long-standing products like Penghua Brand Inheritance and Penghua Prosperity Innovation Mixed (LOF) A have withstood market tests, receiving five-star ratings over ten years from different institutions [2] - Seven active equity funds from Penghua Fund ranked in the top ten of their categories on the long-term performance list by Galaxy Securities as of September 30, 2025, showcasing the company's investment return capabilities [2] Investment Strategy - In the context of frequent structural opportunities in the equity market in 2025, Penghua Fund has developed a systematic investment research strategy that combines top-down and bottom-up approaches [3] - The company maintains a balanced industry allocation and dynamically optimizes its investment portfolio based on market changes, employing wave operations based on long-term trend judgments [3] - Penghua Fund aims to continue deepening its focus on active equity investments and enhancing its research capabilities to create long-term stable returns for investors [3]