As A-share listed companies release their 2025 interim reports, the latest portfolio adjustments of prominent private fund managers are gradually coming to light.
In the second quarter of this year, Gaoyi Asset's Feng Liu continued to increase his position in Angel Yeast Co.,Ltd. while reducing holdings in Hikvision and Rayto Life Sciences. Chaos Investment's Ge Weidong maintained positions in Quectel Wireless Solutions and Zhenray Technology, with the latter surging nearly 93% year-to-date. Ruijun Asset's Dong Chengfei reduced holdings in Chipown Microelectronics, Renqiao Asset's Xia Junjie increased positions in New Classics Media, and Yinye Investment newly entered Hobio Biotech.
**Ge Weidong Holds Quectel and Zhenray Technology** **Gaoyi's Feng Liu Continuously Increases Angel Yeast Position**
As of the end of the second quarter, Chaos Investment Chairman Ge Weidong continued to hold 3.626 million shares of Quectel Wireless Solutions, unchanged from the first quarter end, with a reference market value of 311 million yuan, ranking as the sixth largest tradable shareholder. The IoT module leader Quectel has seen its stock price rise 26.69% year-to-date.
Ge Weidong also holds 4.1219 million shares of Zhenray Technology, with an end-of-period reference market value of 192 million yuan. Zhenray Technology is engaged in the R&D, production, and sales of integrated circuit chips and microsystems. The company's stock price has surged 92.74% year-to-date. Ge Weidong made substantial purchases of this stock in the fourth quarter of last year and became one of its top ten tradable shareholders, resulting in significant profits.
Angel Yeast Co.,Ltd.'s interim report shows that Gaoyi Lingshan No.1 Yuanwang Fund, managed by senior fund manager Feng Liu of Gaoyi Asset, increased its position by 3.5 million shares in the second quarter, bringing total holdings to 35 million shares with a market value of 1.231 billion yuan at period end. This marks consecutive quarters of position building in Angel Yeast Co.,Ltd. following a 13 million share increase in the first quarter.
Angel Yeast Co.,Ltd. achieved operating revenue of 7.899 billion yuan in the first half of the year, up 10.10% year-over-year, with net profit attributable to shareholders reaching 799 million yuan, up 15.66% year-over-year. The company's stock price has risen 7.14% year-to-date.
However, Feng Liu reduced his position in security leader Hikvision by 12 million shares in the second quarter, lowering holdings to 338 million shares with a market value of 9.373 billion yuan at period end. He has now reduced this position for three consecutive quarters. Hikvision's stock price has declined 1.31% year-to-date.
Feng Liu also reduced his position in Rayto Life Sciences by 4 million shares, holding 17.5 million shares at the end of the second quarter with a market value of 252 million yuan. This stock has gained 48.43% year-to-date.
**Ruijun's Dong Chengfei Reduces Chipown Position** **Renqiao's Xia Junjie Increases New Classics Holdings**
Some major holdings of the multi-billion private equity firm Ruijun Asset have also been disclosed.
Chief Research Officer Dong Chengfei's Ruijun Youfu No.1 and No.3 private funds remained among Chipown Microelectronics' top ten tradable shareholders at the end of the second quarter, holding a combined 2.4158 million shares, down 420,000 shares from the first quarter end, with a market value of 135 million yuan.
Chipown Microelectronics is a high-tech enterprise specializing in power integrated circuit design. In the first half of this year, it achieved operating revenue of 636 million yuan, up 40.32% year-over-year, with net profit attributable to shareholders reaching 90 million yuan, up 106.02% year-over-year. Chipown's stock price has surged 47.32% year-to-date.
Ruijun Asset also newly purchased 3.8993 million shares of Dao's Technology in the second quarter, with a market value of 66 million yuan at period end.
Renqiao Asset, led by Xia Junjie, increased holdings in New Classics Media through three funds including Renqiao Zeyuan Phase 1 in the second quarter, holding a combined 2.2926 million shares with a market value of 44 million yuan at period end. New Classics Media has gained 3.44% year-to-date.
Yinye Investment's private fund products newly purchased 721,700 shares of Hobio Biotech in the second quarter, with a market value of 98 million yuan at period end. Hobio Biotech is primarily engaged in the R&D, production, and sales of in vitro diagnostic reagents, with its stock price rising 18.63% year-to-date.
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