Core Viewpoint - The company is focusing on digital transformation to support its multi-brand and multi-channel global strategy, enhancing operational efficiency through data-driven and AI-enabled approaches [1] Group 1: Digital Transformation - The company is building a unified data and process governance system to create an efficient digital foundation [1] - Key systems are being selected and developed across various business domains, including product research and development, marketing, production, and supply chain [1] Group 2: Innovation and Collaboration - The company has initiated an AI formula large model project in collaboration with external technology partners to explore intelligent research and development paths [1] - The aim is to facilitate product innovation and the accumulation of experiential assets [1] Group 3: Decision-Making Efficiency - The company is actively leveraging data and AI to enhance decision-making efficiency and innovate business models [1]

Group 1 - The company acknowledges that its stock price is influenced by multiple factors including market sentiment, industry changes, company circumstances, and macroeconomic factors [2] - The company emphasizes its commitment to the interests of all shareholders, ensuring that investor interests and returns are considered in decision-making related to corporate governance and daily operations [2] - The company aims to enhance the level of investor returns and their sense of gain [2]

Group 1 - The company, Proya, stated that all products and raw materials under its brands undergo strict evaluation and safety testing, complying with national standards [2]

Core Viewpoint - The company, Proya (603605), is actively engaging in diverse brand and product marketing activities to enhance brand awareness and product strength through various marketing strategies, including celebrity endorsements and event marketing [1] Group 1 - The company is leveraging its various brands and product lines to align marketing efforts with key events and promotions [1] - Proya is focusing on deepening brand perception and reinforcing both brand and product capabilities [1] - The marketing strategies include a mix of announcements from brand ambassadors and diverse promotional activities [1]

Core Viewpoint - The company, Proya (603605), announced a share buyback plan to enhance investor confidence and promote stable development [1] Group 1: Share Buyback Announcement - Proya plans to use its own funds for a share buyback through centralized bidding to protect investor interests [1] - The details of the buyback plan can be found in the company's announcement titled "Announcement on Share Buyback Plan via Centralized Bidding" [1] Group 2: Management Commitment - The management team is committed to diligently fulfilling their responsibilities and improving operational management [1] - The company aims to enhance its core competitiveness and profitability to create more value for shareholders and actively return benefits to investors [1]

Group 1 - The company emphasizes the importance of investor relations management and considers investor interests and returns in decision-making processes related to corporate governance and daily operations [1] - The company has promptly communicated feedback regarding suggestions and related matters raised by investors to its management team [1]

Core Viewpoint - The company emphasizes the importance of brand strength, product quality, and consumer experience in its business strategy, indicating a focus on sustainable and high-quality development [1] Group 1: Business Strategy - The company is maintaining a steady operational development and is steadily advancing its business strategy [1] - The company aims to strengthen its diversified brand matrix and all-channel layout [1] - The company is focused on enhancing its core product matrix to improve brand strength, product quality, and technological capabilities [1] Group 2: Competitive Positioning - The company is committed to improving its core competitiveness and profitability [1] - The emphasis on brand and product quality is expected to promote stable and high-quality growth for the company [1]

Group 1 - In the fourth quarter of last year, notable fund managers such as Ge Lan and Tang Xiaobin reduced their holdings in Kelun Pharmaceutical, while Zhao Bei increased her stake [2][3] - Ge Lan's fund, the China Europe Medical Health Mixed Fund, held 38.1954 million shares of Kelun Pharmaceutical as of December 31, 2025, having reduced its holdings by 1.867 million shares compared to the end of the third quarter [4] - Tang Xiaobin's fund, the GF Multi-Factor Mixed Fund, exited the top ten shareholders of Kelun Pharmaceutical by the end of 2025, having reduced its holdings from 24.2335 million shares to an estimated 1.394 million shares [6] Group 2 - Zhao Bei's fund, the ICBC Credit Suisse Frontier Medical Equity Fund, increased its holdings in Kelun Pharmaceutical to 22 million shares by December 31, 2025, up by 2 million shares from the end of the third quarter [6] - The National Social Security Fund's 416 portfolio became the tenth largest shareholder of Kelun Pharmaceutical with 13.9445 million shares by the end of 2025 [6] Group 3 - Liu Yanchun and Hu Xinwei reduced their holdings in Proya Cosmetics, with Liu's fund holding 2.6 million shares as of December 30, 2025, down from 3.332 million shares at the end of the third quarter [8] - Hu Xinwei's fund exited the top ten shareholders of Proya Cosmetics by the end of 2025 [8] Group 4 - Zhou Yun's fund, the Dongfanghong New Energy Mixed Fund, and the National Social Security Fund's 404 portfolio entered the top ten shareholders of Jiazhe New Energy by the end of 2025 [10] - The National Social Security Fund's 114 portfolio increased its holdings in Nanshan Aluminum by 4.3432 million shares in the fourth quarter of 2025, with five ETF products included in the top ten shareholders of Nanshan Aluminum by the end of 2025 [10] Group 5 - A surge in institutional research activities has been noted, with over 10,000 research sessions conducted in the past month, focusing on sectors such as semiconductors, general equipment, automotive, and artificial intelligence [12] - Fund managers from various firms, including Chang'an Fund and Nord Fund, have actively participated in company research activities, indicating a strong interest in the market outlook for 2026 [13]

Group 1 - Notable fund managers have disclosed their latest stock adjustments as the new year begins, with several companies announcing related updates [1] - Fund managers Ge Lan and Tang Xiaobin reduced their holdings in Kelun Pharmaceutical (002422), while Zhao Bei increased her stake [1][2] - Liu Yanchun and Hu Xinwei reduced their holdings in Proya (603605), while Zhou Yun entered the top ten shareholders of Jiazhe New Energy (601619) [1][6] Group 2 - As of December 31, 2025, Ge Lan's fund held 38.1954 million shares of Kelun Pharmaceutical, having reduced by 1.867 million shares compared to the previous quarter [2] - Tang Xiaobin's fund exited the top ten shareholders of Kelun Pharmaceutical by the end of 2025, having reduced holdings from 24.2335 million shares to 13.94 million shares [4] - Zhao Bei's fund increased its holdings in Kelun Pharmaceutical to 22 million shares, up by 2 million shares from the previous quarter [4] Group 3 - Liu Yanchun's fund held 2.6 million shares of Proya as of December 30, 2025, down from 3.332 million shares, indicating a reduction of over 700,000 shares [7] - Hu Xinwei's fund is no longer among the top ten shareholders of Proya [8] - Zhou Yun's fund and the National Social Security Fund 404 combination entered the top ten shareholders of Jiazhe New Energy in the fourth quarter of 2025 [9] Group 4 - The National Social Security Fund 114 combination increased its holdings in Nanshan Aluminum (600219) by 4.3432 million shares in the fourth quarter of 2025 [9] - By the end of 2025, five ETF products were included among the top ten shareholders of Nanshan Aluminum, indicating the growing influence of index funds [9] Group 5 - A significant increase in institutional research activities has been noted, with over 10,000 research sessions conducted in the past month, focusing on sectors such as semiconductors, general equipment, automotive, and artificial intelligence [10] - Fund managers are optimistic about the performance of non-financial listed companies in A-shares for 2025 and 2026, anticipating a stable recovery [10]

Core Viewpoint - The article discusses the recent stock adjustments made by several well-known fund managers, highlighting their changes in holdings in various companies, particularly focusing on Kelong Pharmaceutical and Proya Cosmetics [2]. Group 1: Kelong Pharmaceutical - Fund managers Ge Lan and Tang Xiaobin reduced their holdings in Kelong Pharmaceutical, while Zhao Bei increased her stake [3]. - As of December 31, 2025, Ge Lan's fund held 38.1954 million shares of Kelong Pharmaceutical, a decrease of 1.867 million shares compared to the end of the third quarter [4]. - Tang Xiaobin's fund, Guangfa Multi-Factor Mixed Fund, exited the top ten shareholders of Kelong Pharmaceutical by the end of 2025, having reduced its holdings from 24.2335 million shares to at least 10.2935 million shares [6]. - In contrast, Zhao Bei's fund held 22 million shares of Kelong Pharmaceutical as of December 31, 2025, an increase of 2 million shares from the previous quarter [6]. - The National Social Security Fund's 416 portfolio became the tenth largest shareholder of Kelong Pharmaceutical with 13.9445 million shares by the end of 2025 [7]. Group 2: Proya Cosmetics - Liu Yanchun and Hu Xinwei reduced their holdings in Proya Cosmetics, with Liu's fund holding 2.6 million shares as of December 30, 2025, down from 3.332 million shares [9]. - Hu Xinwei's fund is no longer among the top ten shareholders of Proya Cosmetics [10]. Group 3: Other Companies - Zhou Yun's fund and the National Social Security Fund's 404 portfolio entered the top ten shareholders of Jiazhe New Energy by the end of 2025 [11]. - The National Social Security Fund's 114 portfolio increased its holdings in Nanshan Aluminum by 4.3432 million shares in the fourth quarter of 2025, with five ETF products now included among the top ten shareholders [11]. Group 4: Market Trends - As of early 2026, A-shares stabilized above 4000 points, with over 10,000 institutional research activities focused on sectors like semiconductors and artificial intelligence [13]. - Fund managers express optimism for A-share performance in 2026, anticipating a recovery in earnings growth for non-financial listed companies [13].