No.1 CITIC Securities: Zhu Yong appointed as non-executive director and elected as vice chairman

On the evening of July 30th, CITIC Securities announced that the company held the 16th meeting of the third board of directors and agreed to submit a proposal to the shareholders' meeting for consideration regarding the election of Zhu Yong as a non-executive director of the company. At the same time, the meeting agreed to elect Zhu Yong as the Vice Chairman of the Third Board of Directors of the company, provided that the proposal to elect Zhu Yong as a non-executive director of the company is approved by the shareholders' meeting. According to the resume, Zhu Yong, born in June 1969, is currently serving as a director of Central Huijin Investment Co., Ltd. and a director of China Export&Credit Insurance Corporation.

Comment: The personnel changes at CITIC Securities have attracted market attention, and if Zhu Yong is elected as the vice chairman, it will bring a background of Huijin. This appointment may strengthen the corporate governance structure and boost market confidence. The securities sector may be positively affected, especially those with state-owned assets. This change also reflects the trend of executive turnover in the financial industry, which may drive the market to re evaluate the valuation of financial stocks and enhance investors' expectations for the stability of the financial sector.

Over 90% of active equity funds have positive returns, while doubling funds have two major characteristics

According to Wind data, as of July 30th, over 90% of active equity funds in the entire market have achieved positive returns since the beginning of this year. Doubling funds have begun to appear in bulk in the booming market, and Hong Kong stock positions and the pharmaceutical industry have become the two key keywords for profitability. Specifically, the public QDII with more flexible positions in the Hong Kong stock market performed the best, with the Huitianfu Hong Kong Advantage Selection QDII under the Huitianfu Fund leading the way with a return rate of 139% within the year. As of the end of the second quarter, the fund held 94.28% of Hong Kong stock assets and heavily held the pharmaceutical sector. In terms of A-share funds, the Great Wall Pharmaceutical Industry Select Fund under Great Wall Fund has the strongest performance, with a return of 129% for the year. As of the end of June this year, the fund held approximately 43% of its Hong Kong stock holdings. In addition, the return rates of products such as Bank of China Hong Kong Stock Connect Pharmaceutical Hybrid, Yongying Pharmaceutical Innovation Intelligent Selection, Nuoan Selected Value, AVIC Preferred Navigation Hybrid, Huaan Pharmaceutical Biotechnology, Jiashi Huirong Selected, E Fund Global Pharmaceutical Industry QDII, and Ping An Core Advantage Hybrid have all exceeded 100%. It can be seen that the doubling bases that appear in batches exhibit two commonalities: first, a high position in Hong Kong stocks; The second is the heavy warehouse pharmaceutical industry.

Comment: Since the beginning of this year, active equity funds have performed outstandingly, with over 90% achieving positive returns and a large number of doubling funds appearing. Data shows that high positions in Hong Kong stocks and heavy positions in the pharmaceutical industry have become the two key factors leading performance. This phenomenon reflects the market's preference for Hong Kong stocks and the pharmaceutical sector, which may guide funds to flow into related fields, boost the Hong Kong Stock Connect and the pharmaceutical and biological sector, and inject vitality into the overall market, boosting investor confidence.

Within 3 years, nearly 5 billion yuan was raised and self purchased, and passive index funds were favore

According to data from the Public Fund Ranking Network, as of July 30th, a total of 126 public institutions have net subscribed for their products worth 4.966 billion yuan since the beginning of this year. Among them, the self purchased amount of equity funds reached 2.298 billion yuan, accounting for 46.28%, followed closely by bond funds with a self purchased amount of 2.235 billion yuan. It is worth noting that passive index funds, with a self purchase scale of 1.026 billion yuan, have become the most favored variety among equity funds, accounting for 20.65% of the total self purchase amount.

Comment: Public institutions have purchased nearly 5 billion yuan of their own funds within the year, indicating increased confidence in the market. Passive index funds are favored, reflecting institutions' optimism towards low-cost and transparent investment tools. This move may boost investor sentiment, especially for index fund related companies. The proportion of equity self purchases is nearly half, which may guide the flow of funds to high-quality targets and have a positive impact on the overall valuation repair of the market.

NO.4 Harbin Investment Corporation: Shareholder Dazheng Group plans to reduce its stake in the company by no more than 1%

On the evening of July 30th, Harbin Investment Corporation (600864) announced that Dazheng Group, which holds 9.45% of the company's shares, plans to reduce its holdings by no more than 20.8057 million shares through centralized bidding trading on the securities exchange, not exceeding 1% of the company's total share capital.

Comment: The major shareholder's reduction plan of Harbin Investment Corporation has attracted market attention. Although the proportion of this reduction is not significant, as an important shareholder holding 9.45% of the shares, Dazheng Group's reduction behavior may affect investors' short-term valuation expectations for the company. Overall, such news of reducing holdings may to some extent affect market sentiment.

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Source: Daily Economic News