2026 Spring Festival Message | Huaxia Fund General Manager Li Yimei: Step into the spring mountains, ride the long wind, and uphold professionalism to meet the era's promise!

Opening Remarks: The Year of the Horse has arrived, bidding farewell to the old and embarking on a new journey. Looking back on the past year, the securities industry’s transformation deepened, and the high-quality development of the public fund industry progressed hand in hand, achieving remarkable results; looking ahead to the new year, the start of the “14th Five-Year Plan” awaits new blueprints to be drawn. On this festive occasion, Cailian Press launches the 2026 “Securities and Fund Industry New Year Message” column, sincerely inviting leaders of securities firms and fund management companies to contribute messages, share hopes for the new year, and discuss the future.

Li Yimei, General Manager of China Asset Management The cycle of time is ever-changing, and new chapters are constantly being written. As the wheel of time turns into the Year of Bingwu (Horse), the land of China is bursting with spring vitality, and all things are renewing. At this wonderful moment of bidding farewell to the old and welcoming the new, on behalf of all staff at China Asset Management, I extend my most sincere holiday greetings to investors, partners, and friends from all walks of life who have long cared for and supported the development of China Asset Management! I wish everyone a spirited, prosperous, and smooth year ahead, with happiness for the whole family and success in all endeavors!

The past year has woven a splendid tapestry. The just-concluded 2025 was a year of resilience and breakthroughs for China’s economy, and a crucial year for the high-quality development of the public fund industry. As the final year of the 14th Five-Year Plan, 2025 demonstrated China’s economy’s strong resilience amid complex and changing internal and external environments. It endured pressures, sought progress amid difficulties, broke through adversity, and advanced in transformation and upgrading, moving toward higher quality and better development. New productive forces accelerated across China—from high-end equipment to artificial intelligence, from gigabit optical networks to data centers, from quantum technology to low-altitude economy. The positive feedback loop driven by innovation continued to strengthen, with various sectors racing to seize new opportunities in economic development. China’s economy is advancing toward high-quality growth at an unprecedented pace, providing the most solid underlying asset support for capital markets.

The public fund industry has also demonstrated resilience amid reform, accumulated strength through innovation, and entered a new stage of better serving the real economy and national strategies, with high-quality development as the main theme and investor interests at the core. In 2025, the scale of public funds reached new heights, becoming a mainstay of household wealth management; index investment, represented by ETFs, shone brightly, accelerating the era of tool-based investing; public REITs expanded rapidly, QDII fund scale hit a record high, the individual pension system was fully implemented, and fee reforms were fully rolled out… Though the road has been bumpy, our spirits remain high, and we forge ahead with determination.

A new year, a new leap. The horse symbolizes galloping, progress, and strength—perfectly aligning with the long-term and professional ethos of the public fund industry. In the vast fields of the capital market, we must maintain steady progress amid market fluctuations; we must also be ambitious and proactive, embracing the spirit of the dragon and horse to face challenges head-on. Standing at the new starting point of 2026, although uncertainties remain, I am always confident in China’s economic resilience and the promising future of public funds.

This confidence stems from China’s profound economic foundation and surging momentum. Accelerating growth of new productive forces, the rapid construction of a modern industrial system, and the continuous activation of a super-large market are nurturing unprecedented investment opportunities in capital markets. From technological innovation to consumption upgrades, from green development to state-owned enterprise value reshaping, China’s economic fundamentals remain solid. Public funds will continue to serve the real economy and improve people’s lives, deepen wealth management transformation, and actively participate in the broader reform of capital markets.

This confidence also comes from ongoing optimization of the industry ecosystem and the benefits of institutional reforms. Under comprehensive deepening reforms, household wealth is rapidly shifting toward financial assets. As an important vehicle for inclusive finance, public funds’ transparency, professionalism, and regulation advantages are increasingly prominent. Regulatory guidance is steering the industry back to its core, shifting from “scale competition” to “value creation,” opening broader development space for the industry.

As an industry participant and builder, China Asset Management has always synchronized with the industry’s growth. We have witnessed the grandeur of equity investments and experienced the steady progress of fixed income; we embrace the inclusive wave of index investing and actively explore global allocation with a worldwide perspective. We continuously improve our “Index Research + Service + Strategy” system, with steady growth in equity ETF assets under management, providing investors with convenient tools to allocate core Chinese assets, and striving to become a trusted long-term partner in sectors like technology, dividends, and Hong Kong stocks.

China Asset Management understands that trust is the most valuable asset in asset management. Every achievement we make is rooted in the fertile soil of China’s high-quality economic development and the steadfast trust of our holders. Behind every heavy trust lies a family’s aspiration for a better life. “Contributing to trust with returns” has been our original intention for over twenty years and our solemn promise to every investor. At the start of the Year of the Horse, a journey of thousands of miles begins. Facing the opportunities of the era, China Asset Management will spur forward, live up to the time, and dedicate itself to building China’s capital markets with a long-term and inclusive financial philosophy, safeguarding the wealth aspirations of hundreds of millions of families.

We will adhere to the core principle of prioritizing investors’ interests, sharpening our investment research capabilities. Whether it’s deepening equity investments, ensuring steady fixed income allocations, or advancing multi-strategy approaches like quantitative and overseas investments, we will pursue excellence with professionalism, striving to find the optimal balance between risk and return, and earn sustainable, stable long-term returns for investors.

We will embrace the wave of change, actively seize core investment themes such as new productive forces. Through forward-looking research and strategic layout, we will identify and grow with high-quality Chinese companies that embody the country’s future and possess core competitiveness, sharing in China’s economic transformation and upgrading.

We will stay true to our original mission of inclusive finance, continuously accompanying investors. Market volatility is normal; rational investing is key. In the new year, we will enhance investor education through diverse formats, helping investors navigate cycles, and fostering long-term and value investing concepts, so that more people can achieve steady happiness in the capital markets.

As dawn turns to dusk and a new year begins, China Asset Management wishes to journey with all investors, riding the momentum toward high-quality economic development, and writing a new chapter of wealth growth! Finally, I wish all investors a happy Spring Festival and a prosperous Year of the Horse! May the spring breeze of the Year of the Horse bring you endless hope and harvest!