"Her Power" | Four female equity fund managers from Huashang Fund meet the era with professionalism

At Huashang Fund, there is a group of female fund managers who build their foundation on knowledge and wield professionalism as their blade. They delve deeply into diverse investment fields such as equities, fixed income, high-end manufacturing, technology, pharmaceuticals, and cyclical industries. They incorporate female’s sensitivity, resilience, and wisdom into every investment decision, continuously creating wealth alpha for investors. The brand spirit of Huashang Fund—“Professional, Proactive, Honest, Innovative, Responsible”—becomes even more vibrant through their blossoming.

Xiao Zhang

Master of Economics, Peking University

Fund Manager of Huashang Medical & Healthcare Industry Stocks Fund

Fund Manager of Huashang Hengyi Stable Hybrid and other funds

Personal Experience:

Joined Huashang Fund in 2015, served successively as Industry Researcher, Assistant Fund Manager, and Fund Manager. As of the end of 2025, has over 10 years of securities industry experience (including 6.3 years in securities research and 4.2 years in securities investment).

Investment Style:

Xiao Zhang at Huashang Fund specializes in tracking industry prosperity changes and demand recovery progress, aiming to identify both sector growth stocks and value stocks within her focus areas.

Through long-term research practice, she has a clear investment philosophy. She classifies companies into two categories: growth stocks and value stocks. For growth stocks, she uses a top-down approach based on industry prosperity, selecting sub-sectors benefiting from policy support within high-growth sectors aligned with social development trends, verified through upstream and downstream analysis and financial data logic, and positioning her investments at appropriate times. For value stocks, she primarily seeks opportunities from a bottom-up perspective, focusing on performance certainty, management stability, and valuation matching, with more attention to competitive barriers.

Investment Outlook:

Xiao Zhang states that innovative drugs have shifted from BD narratives to real clinical data storytelling. Overseas clinical data for major products are gradually emerging, continuing to drive the development of domestic innovative drugs. The CXO sector appears to have established a turning point based on order forecasts this year, with ongoing performance and valuation recovery across the industry chain.

Message to Holders:

Stay true to your original intention and live up to expectations.

Sun Wei

Master of Science, King’s College London

Fund Manager of Huashang Flexible Allocation Healthcare & Life Science Hybrid Fund

Fund Manager of Huashang Shengshi Growth Hybrid and other funds

Personal Experience:

Joined Huashang Fund in 2016, served successively as Industry Researcher, Assistant Fund Manager, and Fund Manager. As of the end of 2025, has 9.7 years of securities industry experience (including 6.8 years in securities research and 2.9 years in securities investment).

Investment Style:

Sun Wei’s investment scope covers pharmaceuticals, healthcare, consumer technology, and cyclical growth sectors. Her core philosophy is “Identify cyclical bottom assets and find good, undervalued companies,” matching cyclical and counter-cyclical assets to find resilient growth targets.

In cyclical investments, she selects companies with strong competitiveness in industries with rising prosperity—these companies often outperform industry averages in performance growth, enabling faster valuation increases. In counter-cyclical investments, she looks for assets showing early signs of improvement but whose performance has not yet fully reflected this, often high-quality assets with high resilience that can deliver significant returns during economic recovery or industry rebound.

Investment Outlook:

Sun Wei expects the innovation drug sector to continue its upward trend in 2026, driving the entire industry chain’s recovery, with profit growth further accelerated by year-round performance realization, ongoing fundamental improvements, and policy support. The recent strong performance of non-ferrous metals is driven by improved supply-demand dynamics, policy backing, and new demand growth, with high industry prosperity expected to persist.

Message to Holders:

Remain true to your original aspiration and persevere to achieve long-term success.

Chen Xiaoqiong

Master’s Degree, Peking University

Fund Manager of Huashang New Energy Vehicles Hybrid Fund

Fund Manager of Huashang High-End Equipment Manufacturing Stocks and other funds

Personal Experience:

Joined Huashang Fund in 2015, served as Industry Researcher, Assistant Fund Manager, and Fund Manager. As of the end of 2025, has 10.3 years of securities experience (including 9.4 years in securities research and 0.9 years in securities investment).

Investment Style:

Chen Xiaoqiong focuses on high-end manufacturing and new energy industry chain investments. She firmly believes that “deep research is the cornerstone of market resilience,” and excels at accurately grasping industry trends and stock value.

She typically analyzes industry ecosystems through the industry chain, focusing on segments with industry trends, policy support, and technological progress. She identifies core competitive advantages of companies and uses dynamic assessments of industry beta and stock alpha resonance to achieve high precision and steady growth amid market fluctuations.

Investment Outlook:

Chen Xiaoqiong expects continued progress in AI models, power infrastructure, energy storage, lithium batteries, and solid-state batteries. She will keep an eye on these areas, actively seize investment opportunities, and continue to discover high-quality companies with high certainty.

Message to Holders:

Together, ride the wave of industry growth and witness China’s high-end manufacturing starry future.

Peng Wu

Master of Science, Fudan University

Fund Manager of Huashang Leading Advantage Hybrid Fund

Fund Manager of Huashang High-End Equipment Manufacturing Stocks

Personal Experience:

Graduated with a Master’s in Microelectronics and Solid-State Electronics. Joined Huashang Fund in 2021, served as Electronic Industry Researcher and Fund Manager. As of the end of 2025, has 9.3 years of securities experience (including 8.4 years in securities research and 0.9 years in securities investment).

Investment Style:

Peng Wu specializes in research and investment in the technology sector, based on solid industry research. She is adept at accurately identifying genuine industry trends and “true growth” companies amid the ongoing wave of technological advancement.

Peng Wu emphasizes that key to tech industry investment is early prediction—accurately recognizing real industry opportunities among many hotspots and trends. This requires deep understanding of all industry segments and frontline insights into subtle changes. She believes that within industry mainlines, it’s essential to distinguish primary and secondary contradictions over different periods and to keenly capture these shifts. In bottom-up stock selection, she strives to precisely identify the best logical and performance-driven high-quality targets, the true “alpha.”

Investment Outlook:

Peng Wu believes that the next five years of technological innovation and investment opportunities will likely revolve around AI. Overseas AI remains hot, while domestically, AI from devices to advanced processes, chips, and models is making significant breakthroughs; focus on the growth of semiconductor equipment driven by advanced process and storage expansion cycles; applications include exploring monetization of traffic for large tech firms (2C) and inflation-related opportunities in 2B applications, while also paying attention to the value reshaping brought by private data moats and multi-modal capabilities.

Message to Holders:

Invest with wisdom, ride the waves of technology, and explore the unknown to start anew.

(Edited by: Xu Nannan)

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