Xingquan Trend Investment Hybrid LOF disclosed its first quarter report. During the reporting period, the net asset value growth rate of the fund significantly outperformed the benchmark return rate, and continued to focus on investment opportunities in technology growth. Fund manager Yang Shijin stated that during the period, the fund made adjustments to some individual stocks from the perspective of "value for money." Compared to the fourth quarter of 2025, four stocks were replaced in the top ten holdings, with substantial reduction in holding of Zhijin Mining. As a flexible allocation fund with a scale exceeding 14 billion, as of the end of this reporting period, the net asset value of Xingquan Trend Investment Hybrid LOF was 0.7557 yuan, with a net asset value growth rate of 4.21% in this reporting period, while the benchmark return rate for the same period was -1.58%. The top ten major holdings of the fund include: Hangguang Information (688041.SH), Ningde Times (300750.SZ), Luxshare Precision (002475.SZ), Zhongtian Technology (600522.SH), Zhijin Mining (601899.SH), North Huachuang (002371.SZ), Raytron Micro-Nano (688002.SH), Lianhua Technology (002250.SZ), Changdian Technology (600584.SH), and Tenzun Technology (688003.SH). Compared to the fourth quarter report of 2025, the major holdings of the fund have undergone significant changes. Zhongtian Technology, Lianhua Technology, Changdian Technology, and Tenzun Technology have entered the top ten holdings, demonstrating the fund's diversified layout in technology growth. At the same time, among the stocks that remain in the top holdings, Zhijin Mining has been significantly reduced, with a decrease in position of around one third. Northern Huachuang, Ningde Times, and Luxshare Precision have varying degrees of reduction in position, while the position of Raytron Micro-Nano remains relatively stable. Yang Shijin stated that during the reporting period, the fund continuously optimized its portfolio holdings, made adjustments to some individual stocks from the perspective of "value for money," but the overall allocation strategy has not changed significantly. He strongly agrees with the goals proposed in the Fifteenth Five-Year Plan, believing that relative advantages will continue to accumulate, bringing better investment prospects for Chinese assets. In March 26, the domestic manufacturing Purchasing Managers' Index (PMI) was 50.4%, up 1.4 percentage points from the previous month, above the threshold, indicating a rebound in the manufacturing business environment. In addition, from January to February, the total profits of industrial enterprises above a designated scale in China reached 1.02546 trillion yuan, a year-on-year increase of 15.2%, with a noticeable growth rate. Overall, the domestic economy is in the process of stable development and transformation. He mentioned that the war in the Middle East has caused fluctuations in global stock markets. The turmoil and reshaping of the global landscape have brought great challenges to investments. Overall, in the first quarter of 26, the Shanghai Composite Index fell by 1.94%, the Shenzhen Component Index fell by 0.35%, and the ChiNext Index fell by 0.57%; among them, the coal and petroleum industries performed well, while the telecommunications industry also saw some gains.