The first batch of Q3 2026 reports for China's active equity funds has been disclosed. The reports show that fund managers generally maintain an optimistic "long-term bullish" view on equity assets, but actual operations reveal significant differences in position management and structural adjustments, leading to divergent performance. Among them, Jinxin Shenzhen Growth Hybrid achieved an outperformance of 9.71 percentage points, with new additions like BYD to its top holdings. Dongcai Agriculture Smart Selection Hybrid (Initiated) rapidly built up its equity positions to 92.19% within 44 days, with its net asset value growing by 2.77%. Jinxin Premium Growth Hybrid saw a decline of 31.65% but received net subscriptions of 51 million units and increased its holdings in core components for lithography processes. Southern Hong Kong Stock Healthcare rose by 18.49% while reducing its equity positions by 19.53 percentage points, significantly increasing holdings in pharmaceutical stocks such as Asymchem and Wuxi AppTec.