Haitong Global Fund Quarterly Report Released! Xie Zhiyu significantly adjusted the portfolio and increased holdings in XIAOMI-W(01810).

On January 21st, the quarterly report of the products managed by Xie Zhiyu under CICC Global Fund was released. By the end of 2024, Xie Zhiyu managed a total of 3 funds with a cumulative management scale exceeding 37 billion yuan, a slight decrease compared to the previous period. Overall, there were significant changes in the holdings of Xie Zhiyu's products in the fourth quarter. In the Xingquan He Yi Hybrid and Xingquan Social Value Three-year Holding Hybrid funds, XIAOMI-W (01810) emerged as one of the top ten new positions, becoming the largest holding stock. Luxshare Precision Industry(002475.SZ) also saw a major increase in holdings, becoming the largest holding stock in the Xingquan He Run Hybrid fund. Looking at the representative fund Xingquan He Run Hybrid Fund (LOF), by the end of the reporting period, the net asset value per share of Xingquan He Run Hybrid was 1.5327 yuan, with a growth rate of -0.09% during the reporting period, while the benchmark yield was -0.74%. In terms of holdings, compared to the previous quarter, the fund added Bestechnic (Shanghai) Co., Ltd. (688608.SH), Lens Technology (300433.SZ), Avary Holding (002938.SZ), and Guangdong Haid Group (002311.SZ) to the top ten holdings. It is worth noting that the fund increased its holdings of Luxshare Precision Industry by 9.3243 million shares, making it the largest holding stock. Montage Technology (688008.SH), Zhejiang Crystal-optech (002273.SZ) and others dropped out of the top ten holdings. Next, looking at the Xingquan Social Value Three-year Holding Hybrid fund, by the end of the reporting period, the net asset value per share was 1.3798 yuan, with a growth rate of 1.17% and benchmark yield of -1.10% during the reporting period. XIAOMI-W (01810) saw a significant increase in holdings, becoming the largest holding stock of the fund. In addition to Xiaomi, Zhejiang Juhua (600160.SH), BABA-W (09988), Semiconductor Manufacturing International Corporation (00981), KINGDEE INT'L (00268), XD INC (02400) were new additions to the top ten, while Montage Technology and 6 other stocks dropped out of the top ten. Lastly, looking at the Xingquan He Yi Hybrid fund, by the end of the reporting period, the net asset value per share of Xingquan He Yi Hybrid A was 1.4010 yuan, with a growth rate of -1.20% during the reporting period, while the benchmark yield was -1.53%. The net asset value per share of Xingquan He Yi Hybrid C was 1.3611 yuan, with a growth rate of -1.36% during the reporting period, with the benchmark yield being -1.53%. The top ten holdings of Xingquan He Yi Hybrid fund were XIAOMI-W, Contemporary Amperex Technology (300750.SZ), Amlogic (688099.SH), HAIER SMARTHOME (600690.SH), COWELL (01415), Luxshare Precision Industry, Zhejiang Juhua, Bestechnic (Shanghai) Co., Ltd., BABA-W, and Semiconductor Manufacturing International Corporation. Compared to the previous quarter, XIAOMI-W, Zhejiang Juhua, Bestechnic (Shanghai) Co., Ltd., BABA-W, and Semiconductor Manufacturing International Corporation were added to the top ten holdings of the fund. XIAOMI-W accounted for 6.16% of the holdings, making it the largest holding stock. Montage Technology, Zhejiang Crystal-optech, Goneo Group, and others dropped out of the top ten holdings. In the report, Xie Zhiyu stated that there was a shift in domestic macro policy expression at the end of the third quarter, with significant improvements in stock market liquidity and risk appetite. In the fourth quarter, as macro-cyclical regulation policies were gradually introduced, the fundamentals of the automobile, home appliance and other domestic demand industries stabilized. On the other hand, external trade continued to face a relatively complex environment, with pressure expected on export-related companies. In terms of technological innovation, the application of AI drove expectations for the technology industry to improve, with electronic and computer industries, among others, experiencing significant gains in the fourth quarter. Xie Zhiyu pointed out that the fund maintained a relatively high position throughout the reporting period, continuously exploring the industrial chain of AI, semiconductors, new energy vehicles, home appliances, and will continue to seek out excellent companies with good long-term growth value and investment value.