Ruiyuan Fund Quarterly Report: Fu Pengbo, Zhu Lin increased stock positions; Sunyu Optics (02382) newly entered the top ten heavy stock positions.

On January 20, Ruiyuan Growth Value Hybrid Fund, Ruiyuan Balanced Value Three-Year Holding Hybrid Fund, Ruiyuan Steady Progress Configuration Two-Year Holding Hybrid Fund, and Ruiyuan Steady Benefit Enhanced 30-Day Bond Fund disclosed their quarterly reports. Among them, the well-known fund managers Fu Pengbo and Zhu Lin moderately increased the allocation of equity assets in the Ruiyuan Growth Value Hybrid Fund, with a stock position of 88.7%, an increase of 3.7% from the previous quarter. The top ten holdings accounted for 55.8% of the fund's net asset value, an increase of approximately 1.4% from the third quarter of 2024. SUNNY OPTICAL (02382) entered the fund's top ten major holdings, while Wanhua Chemical Group (600309.SH) exited the top ten major holdings. Specifically, as of the end of the fourth quarter, the net asset value of Ruiyuan Growth Value Hybrid Fund A managed by Fu Pengbo and Zhu Lin was 1.1952 yuan, with a growth rate of -2.48% during the reporting period, compared to a benchmark return rate of -0.49%. As of the end of the reporting period, the net asset value of Ruiyuan Growth Value Hybrid Fund C was 1.1679 yuan, with a growth rate of -2.59% during the reporting period, compared to a benchmark return rate of -0.49%. In terms of holdings changes, the fund also increased its holdings in Guanghui Energy (600256.SH), Hangzhou GreatStar Industrial (002444.SZ), Suzhou Maxwell Technologies (300751.SZ), and Shenzhen Capchem Technology (300037.SZ); reduced holdings in Contemporary Amperex Technology (300750.SZ), China Mobile Limited (00941), Luxshare Precision Industry (002475.SZ), and Sinocare Inc. (300298.SZ); and maintained the same amount in TENCENT (00700). Ruiyuan Fund's Ruiyuan Balanced Value Three-Year Holding Hybrid Fund managed by Zhao Feng had a net asset growth rate of 17.92% in the past year. Compared to the previous quarter, the fund added XIAOMI-W (01810) and Shanxi Xinghuacun Fen Wine Factory (600809.SH) to the top ten major holdings, with Contemporary Amperex Technology (300750.SZ) accounting for 9.75% of the holdings, making it the first major holding of the fund. Compared to the previous quarter, the top ten major holdings of the Ruiyuan Steady Progress Configuration Two-Year Holding Hybrid Fund managed by Rao Gang and Hou Zhenxin added XIAOMI-W (01810), Ping An Insurance (601318.SH), and Chongqing Sanfeng Environment Group Corp. (601827.SH); with China Mobile Limited (00941) accounting for 8.62% of the holdings, remaining the fund's first major holding. Additionally, as of the end of the fourth quarter, the net asset value of the Ruiyuan Steady Benefit Enhanced 30-Day Bond Fund A, managed by Hou Zhenxin, was 1.0669 yuan, with a growth rate of 0.89% during the reporting period, compared to a benchmark return rate of 2.23%. As of the end of the reporting period, the net asset value of the Ruiyuan Steady Benefit Enhanced 30-Day Bond Fund C was 1.0627 yuan, with a growth rate of 0.81% during the reporting period, compared to a benchmark return rate of 2.23%. In terms of holdings, the fund mainly reduced its holdings in China Mobile Limited (00941), TENCENT (00700), Contemporary Amperex Technology (300750.SZ), and Kweichow Moutai (600519.SH), while increasing holdings in Chongqing Sanfeng Environment Group Corp. (601827.SH) among others. XIAOMI-W (01810), Bank Of China (03988), SUNNY OPTICAL (02382), and CHINA RES MIXC (01209) entered the top ten major holdings, while Zhejiang Weiming Environment Protection (603568.SH), China Pacific Insurance (02601/601601.SH), and PICC P&C (02328) exited the top ten major holdings. Fu Pengbo and Zhu Lin stated in the fourth quarter report of 2024 that in the first quarter of 2025, the stock market has experienced significant volatility, partly due to pressure to meet high expectations and uncertainties for the year. They believe that clues discovered at the beginning of the year usually turn into investment opportunities for the full year. They emphasized the importance of comprehensive analysis of investment return rates, free cash flow per share, matching of net profit and revenue growth, and dividend stability of high dividend companies when selecting stocks. They also noted that the early disclosure of financial reports by listed companies in the first quarter of 2025 would provide investors with more clues about the economic outlook, which often becomes the main theme of investments for the year. Star fund manager Zhao Feng of Ruiyuan Fund wrote in his fourth quarter report of 2024, "When the noise fades, the power of compound interest begins to show. From a long-term return perspective, Ruiyuan Fund is confident in the equity market, as the implicit long-term return levels of China's high-quality companies far exceed those of other assets."Category, globally regarded as the most attractive asset, Ruiyuan Fund can patiently wait for economic stability and recovery.Je suis fatigu et j'ai besoin de repos.