The Zhitong Finance App learned that on October 24, the 2024 three-quarter report of the Guangfa Small Cap Growth Hybrid Fund managed by Liu Gesong was disclosed. By the end of the third quarter, the net asset value of the GF Small Cap Growth Hybrid Fund was 6.666 billion yuan, up 0.764 billion yuan from 5.902 billion yuan at the end of the second quarter. In the third quarter, the net share value growth rate of GF Small Cap Growth Fund Class A fund was 19.17%, the net share value growth rate of Class C funds was 19.05%, and the performance comparison benchmark yield for the same period was 16.22%.

Although GF's small cap growth mix significantly outperformed the performance comparison benchmark for the same period in the third quarter, it was still net redeemed 0.268 billion. At the same time, this is also the largest share of net redemptions for the fund since the fourth quarter of 2021.

Specifically, GF's small-cap growth mixed stock position at the end of the third quarter of 2024 was 93.98%, the highest position since the second quarter of 2022.

According to the three-quarterly report, the top ten high-volume stocks in the GF small-cap growth mix are Shengbang (300661.SZ), Deye (605117.SH), Celis (601127.SH), Jinlang Technology (300763.SZ), Everweft Lithium (300014.SZ), Western Superconducting (688122.SH), Follett (), Huaqin Technology (Dubai), Hongyuan Electronics (), and Zhenhua Technology (000733.SZ). 601865.SH 688281.SH 603267.SH

In terms of changes in shareholding, the new energy technology company Jinlang Technology and the electronic technology company Zhenhua Technology entered the list of the top ten major stocks, accounting for 7.27% and 4.14% in that order. Among them, Zhenhua Technology entered the top ten largest stocks for the first time. Previously, Zhenhua Technology and Jinlang Technology ranked the 11th and 12th largest stocks in GF's small-cap growth mix at the end of the second quarter.

On the other hand, JAC (600418.SH) and Pritt (002324.SZ) withdrew from the top ten positions this time. In addition, Cyrus was the only top ten major stock to reduce Liu Gesong's holdings in the third quarter, with a reduction ratio of 4.44%.

In terms of performance, in the third quarter, the net share growth rate of GF Class A Fund was 19.17%, the net share growth rate of Class C Fund was 19.05%, and the performance comparison benchmark yield for the same period was 16.22%.

In the three-quarter report, Liu Gesong pointed out that in the third quarter of 2024, the overall market rebounded rapidly after the downturn, and growth sectors such as GEM and the Science and Technology Innovation Board had a significant advantage. The market structure is clearly divided. Recovery industries such as non-banking, media, real estate, and computers, and industries that surpassed the previous decline performed well, while traditional industries such as petroleum and petrochemicals, utilities, and coal showed weak gains. At the end of this quarter, policy changes brought about a sharp increase in market expectations and risk appetite. We are confident in the strength of subsequent policies and economic growth targets, and we are optimistic about the subsequent performance of the capital market.

Liu Gesong said that in the third quarter, there was little change in the allocation of the GF small-cap growth hybrid fund industry, maintaining the original allocation level for globally competitive assets such as semiconductors, photovoltaics and industrial chains, lithium batteries, and new energy vehicles, and carrying out individual stock optimization. The shift in policy brought about a rapid recovery in market sentiment, and the stock prices of the industries and underlying stocks that had heavy portfolios also rebounded sharply. We will continue to insist on starting from the industry, find industries whose investment logic matches our own framework for long-term investment, and share the dividends of corporate growth.