Taixin Fund's Duan Xiaoxu appointed as Chief Financial Officer; Yan Siqian increases holdings in Zhenghe Industrial

| March 11, 2026, Wednesday |

NO.1 Taisun Fund’s Duan Xiaoxu Appointed Chief Financial Officer

On March 10, Taisun Fund announced that Duan Xiaoxu took office as Chief Financial Officer.

According to his resume, Duan Xiaoxu previously worked in the Finance Department of Jinan Gas Company, the Planning and Finance Department of Shandong International Trust Co., Ltd., served as Manager of the Audit and Finance Department at Lixia District Lushin Microloan Co., Ltd., Manager of the Audit and Finance Department at Shandong Lushin Pawn Limited, Financial Director of Shandong Lushin Financial Holdings Co., Ltd., Financial Director of Shandong Lushin Cultural Media Investment Group, Senior Manager of the Financial Management Department at Shandong Lushin Investment Holding Group, Financial Director of Lushin Venture Capital Group, and Chief Financial Officer of Lushin Venture Capital Group. He is currently Director of Planning and Finance at Taisun Fund Management Co., Ltd.

NO.2 FOF Early Closure of Fund

On March 9, China Merchants Fund announced that the China Merchants Zhiying Preferred 6-Month Hybrid FOF, which started fundraising on February 26 with an original deadline of March 18, has been closed early on March 10. The fundraising scale during this issuance was approximately 2.7 billion yuan.

Notably, according to Wind data, as of March 9, there are 15 FOFs established since 2026 with a scale over 1 billion yuan (merging share data), accounting for over 45% of the total 33 new FOFs established since 2026.

NO.3 Oil & Gas Theme ETFs Attract Over 20 Billion Yuan in a Month

As of March 6, more than 40 oil and gas theme ETFs in the market have seen a net inflow of 21.828 billion yuan since March, accounting for 70.64% of the net inflow for the year.

It is worth noting that a large amount of funds have flowed into the on-market trading in the short term, pushing up the secondary market prices of related products and causing significant deviations from their net asset values. In response, fund companies have acted quickly; since March, over 50 premium risk warning notices have been issued for oil and gas theme funds.

Additionally, several fund companies have imposed purchase restrictions or suspended subscriptions for their oil and gas funds. For example, on March 5, Huabao Fund suspended subscriptions and regular fixed-investment plans for its Huabao Oil & Gas LOF to “protect the interests of fund shareholders and ensure smooth operation.”

NO.4 Wu Yuanyi Investigates China National Machinery Industry Corporation (Sinomach) Jinggong

According to the latest data from the Public Fund Ranking Network, last week, 22 stocks received at least five research visits from public fund institutions, including well-known fund managers.

For example, Wu Yuanyi, a billion-dollar fund manager at GF Fund, participated in a research visit to Sinomach Jinggong.

Public information shows that Sinomach Jinggong is a platform for the expansion of China National Machinery Industry Corporation’s precision industrial sector, leading domestically in bearings, superhard materials, machine tools, and other areas. In the bearing industry, it focuses on high- and mid-end products, with operating entities including China Bearing Research Institute and China Bearing Technology.

NO.5 Yan Siqian Adds Positions in Zhenghe Industrial

The latest top ten circulating shareholders of Zhenghe Industrial show that Yan Siqian’s managed Penghua Carbon Neutrality Theme Hybrid Fund has appeared for the first time, holding 1.1953 million shares as of December 31, 2025, making it the fourth-largest circulating shareholder.

According to the fund’s Q4 2025 report, Zhenghe Industrial was not among the top ten holdings at the end of Q4 2025.

Zhenghe Industrial’s official website states that the company is engaged in the research, manufacturing, and sales of various chain transmission systems, mainly used in vehicle engines and transmission systems, agricultural machinery transmission and conveying systems, and industrial equipment transmission and conveying systems.

NO.6 Review of ETF Market Performance on the Previous Trading Day

On the previous trading day (March 10), the three major indices rebounded collectively. By the close, the Shanghai Composite rose 0.65%, the Shenzhen Component increased 2.04%, and the ChiNext Index gained 3.04%. Total trading volume in the Shanghai and Shenzhen markets was 2.4 trillion yuan, down 249.7 billion yuan from the previous day. Sector-wise, electronic components, communication equipment, and semiconductors led gains, while a few sectors like mining, oil, and coal declined.

Specifically, the Sci-Tech Innovation 200 ETF led with a 6.18% increase, along with strong performances in the Sci-Tech Innovation Pharmaceuticals ETF and Communication ETF.

On the downside, all oil and gas-related ETFs declined, with the largest drop at 9.47%.

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