[Global Network Finance Comprehensive Report] As we enter mid-April, public fund companies are gradually releasing their Q1 2026 financial reports. As of April 15, several fund companies, including Huayin, Ping An, Zhongou, and Jinxin, have disclosed their quarterly reports. Against the backdrop of intensified fluctuations in the global capital markets at the beginning of the year, the first batch of high-performing active equity funds has shown a strong willingness to &#34;increase positions against the market.&#34; Overall, fund managers are optimistic about Chinese assets, with AI, re-inflation, energy security, and gold becoming the core themes for capital allocation in the first quarter.
In terms of position management, in the face of global market volatility, multiple funds have not only maintained their positions but have also increased their stock holdings. Huayin's selected growth quarterly report shows that its stock holding ratio surged from 88.89% at the end of last year to 92.41%. Fund manager Pang Wenjie has clearly expressed confidence in Chinese assets, believing that A-shares are likely to become a safe haven for global capital. The stock positions of Zhongou Cycle Select, Jinxin Prosperity Select, and Ping An Dingyue LOF have also increased to 88.01%, 89.72%, and 85.28%, respectively. Several fund managers have stated that China's manufacturing sector, which has cost advantages, and stable A-shares are increasingly favored by capital.
On specific investment themes, the technology growth sector has become a consensus gathering place for funds, especially in the fields of AI and commercial aerospace. Jinxin's core competitiveness underwent adjustments in the first quarter, with its top ten holdings completely replaced, decisively shifting from traditional consumer stocks such as food and beverage and pet feed to AI application stocks in software services and communication services, with Wangsu Technology and Hongjing Technology emerging as the top four holdings. Ping An Dingyue LOF fund manager Lin Qingyuan has focused investments on the two major areas of &#34;AI power&#34; and &#34;AI hardware.&#34; The rapid rise of the open-source AI entity OpenClaw has significantly driven the surge in token usage, which will further amplify the long-term demand for AI hardware and power, continuously strengthening the scale expansion of the AI ecosystem. Additionally, Jinxin Prosperity Select has increased allocations in niche areas such as satellite communication components and space photovoltaics.
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Dongfang IC
In addition to the technology theme, the cyclical stock opportunities brought by &#34;re-inflation&#34; and &#34;energy security&#34; have also been highlighted. Zhongou Fund's Ren Fei stated that with fluctuations in upstream material supply, rising costs in overseas manufacturing are driving &#34;re-inflation,&#34; giving Chinese manufacturing a significant strategic advantage. He is currently focusing on three types of opportunities: first, the contraction of overseas supply of high-energy-consuming chemical products; second, the surge in demand for new energy, grid transformation, and nuclear and coal power driven by countries pursuing energy security, which is pushing up prices for upstream metals and oil, gas, and coal; third, the expansion of surpluses in multiple countries accelerating central bank gold purchases, providing strong medium-term support for gold.
Regarding the upcoming market trends, public funds generally hold an optimistic outlook, believing that the stability of Chinese assets is likely to be re-priced. Pang Wenjie believes that after experiencing adjustments in the first quarter, A-shares now offer a high cost-performance ratio, and a mild recovery will lead to continuous repair of corporate profits
Zhejiang Merchants Huijin Quantitative Selected Stock Fund Manager Chen Gujun also judges that although the market is expected to maintain wide fluctuations, the expectation of a &#34;slow bull&#34; market still exists. Re-inflation, AI, and anti-involution will be the three main themes throughout the year. (Wenxin)

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The public fund financial report for the first quarter of 2026 shows that fund companies such as Huayin, Ping An, and Zhongou have demonstrated a strong willingness to "increase positions against the market" amid global market fluctuations, particularly in the fields of AI, re-inflation, energy security, and gold. Fund managers hold an optimistic view on Chinese assets, believing that A-shares are likely to become a safe haven for global capital. Multiple funds have increased their equity holdings, with the technology growth sector being particularly favored, and AI and commercial aerospace becoming key investment focuses

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The public offering's first quarter report is out, with AI and gold as the main lines for capital allocation