Top Performance Among Peers Over the Past 3 Years, Huashang Ruixin Fixed-Term Open Bond Fund Opens for Subscriptions and Redemptions on March 23

In the current environment of low interest rates, where structural opportunities and volatility coexist in the stock market, relying on a single asset class may struggle to navigate the complex and ever-changing markets. Increasingly, investors are turning their attention to “Fixed Income +” strategies, seeking a balance between stability and resilience. The Huashang Ruixin Regular Open Bond Fund (Code: 002924), managed by Zhang Yongzhi, General Manager of the Multi-Asset Investment Department at Huashang Fund, is one of the products worth关注 when facing complex market conditions. The fund will open for its ninth period from March 23, 2026, to April 20, 2026, during which investors can subscribe, redeem, or switch (please refer to the company’s公告 for details).

As a “Fixed Income +” product, Huashang Ruixin Regular Open Bond Fund follows an asset allocation strategy of “bond foundation, equity enhancement”: investing at least 80% of its assets in bonds and no more than 20% in stocks (see legal documents for the investment scope). With the strategic advantage of “fixed income as shield, equities as spear” and a strong research team, the fund flexibly responds to multiple market fluctuations, achieving relatively稳健 growth in net value. According to authoritative fund评价机构, as of the end of February 2026, the fund’s net value growth rate over the past three years reached 47.11%, ranking first among peers; over five years, the growth rate exceeded 56%, ranking second among peers (see table below).

Huashang Ruixin Regular Open Bond Fund Performance

Data说明: Fund net value data来自Huashang Fund, verified by the custodian bank; ranking data来自基金评价机构;同期业绩比较基准数据来自Wind Information.

Additionally, the fund adopts an annual periodic open mode, providing a relatively stable environment for fund managers to operate, effectively avoiding liquidity disruptions caused by subscriptions and redemptions, and helping investors reduce短期情绪化操作, cultivating long-term investment理念与习惯, thereby enhancing the持有体验.

Zhang Yongzhi

General Manager of the Multi-Asset Investment Department at Huashang Fund

Fund Manager of Huashang Ruixin Regular Open Bond Fund

It is particularly worth mentioning that Zhang Yongzhi, the fund manager of Huashang Ruixin Regular Open Bond Fund, is a veteran at Huashang Fund. He currently serves as the General Manager of the Multi-Asset Investment Department, with nearly 20 years of securities industry experience, including over 15 years of securities investment. He adheres to a稳健均衡的投资理念, excels at macro perspective asset allocation, and seeks “certainty anchors” between stocks and bonds. In bonds, he adopts an active management strategy based on thorough macro and micro market research; in stocks, he focuses on valuation levels, allocating to sectors strongly related to macroeconomic conditions, participating in high景气行业 opportunities阶段, aiming for稳健回报 while controlling risks.

Zhang Yongzhi states: “Investment is a marathon, not a sprint. In a complex and volatile market environment,坚持独立思考, avoid following the crowd blindly, and make buy-and-hold decisions based on absolute return thinking. Through flexible asset allocation and strict credit risk control, strive to generate长期稳定的回报 for investors.”

Looking ahead to 2026, Zhang Yongzhi believes that despite the rise in A-shares, the “stock-bond valuation” indicator still shows that equities are worth配置, providing logical support for medium- and long-term capital allocation to equities.

Behind excellent performance lies Huashang Fund’s deep accumulation and持续耕耘 in fixed income. In January 2026, Tianxiang Investment Consulting released a fund manager评级, awarding Huashang Fund a 5A评级 for主动债券 over three years; in February, Jinan Jinxin Fund Management评级 showed Huashang Fund received a five-star rating for secondary bond funds over three years. According to authoritative fund评价机构 data, as of January 2026, Huashang Fund’s主动固定收益类基金 over the past five years ranked first among 126 comparable companies in absolute return; over seven years, it also ranked first among 112 companies.

Markets are always changing, but excellent investment logic and management能力 are always the foundation for穿越周期. Huashang Ruixin Regular Open Bond Fund is committed to守护收益 and捕捉机遇 in volatile markets,陪伴每一位追求稳健回报的持有人,静待时间玫瑰的绽放.

Data说明: The current open period for Huashang Ruixin Regular Open Bond Fund is from March 23, 2026, to April 20, 2026, during which subscriptions, redemptions, and switches are accepted; after 15:00 on April 20, 2026, the fund will suspend these operations and enter the next封闭运作期; the fund does not currently offer定期定额投资. “Fixed Income +” is an investment strategy that combines fixed income assets with equities, aiming for长期稳健回报 while严格控制风险. As of December 31, 2025, Zhang Yongzhi has 19.9 years of securities industry experience, including 3.0 years in securities trading, 1.6 years in securities research, and 15.3 years in securities investment. The views expressed are from the fund’s periodic reports and reflect the fund manager’s investment philosophy, not investment advice. For detailed investment strategies, please refer to the fund legal documents.

The net value growth rates of Huashang Ruixin Regular Open Bond Fund over the past 1, 3, and 5 years have been verified by the custodian;同期业绩比较基准收益率来自Wind; fund peer ranking评价由Galaxy Securities于2026.03.01发布，数据截止至2026.02.28; the fund is classified as a Regular Open Ordinary Bond Fund (Level 2) (A class). The fund was established on August 24, 2016. During the performance period, the fund manager has been Zhang Yongzhi (since 2016.08.24). The performance comparison benchmark is the CSI Aggregate Bond Index. The annual net value growth rates for 2021-2025 are 19.90%, -6.16%, 3.92%, 3.10%, and 18.87%, respectively, with the corresponding benchmark growth rates of 5.65%, 3.49%, 5.23%, 8.83%, and 0.57%. For the latest fund unit净值, please visit Huashang Fund’s official website. More details on the fund’s investment目标,策略, and比例 can be found in the legal documents.

Management’s 5-star and 5A评价及同行排名数据截止至2025.12.31, evaluated according to the Interim Measures for the Evaluation of Securities Investment Funds. Jinan Jinxin评价: assesses profitability, performance稳定性,抗风险能力, and规模适度性 of secondary bond funds; results are rated from five stars to one star, with proportions of 10%, 22.5%, 35%, 22.5%, and 10%. Tianxiang Investment Consulting评价: based on analysis of fund management’s overall实力, investment management能力, and company稳定性 (including compliance), assigns ratings from AAAA to A, dividing funds into five等级 based on overall实力; active bond funds are classified into three secondary categories: pure债券, mixed债券, and convertible债券 funds. Active fixed income评价: ranks based on净值增长率 of主动固定收益类基金, weighted by管理资产规模.

Huashang Ruixin Regular Open Bond Fund subscription费率 (non-pension clients) varies by subscription amount: less than 1 million RMB at 0.8%; between 1 million and 3 million RMB at 0.5%; between 3 million and 5 million RMB at 0.3%; 5 million RMB or more at a flat fee of 1,000 RMB per transaction. Redemption费率 depends on holding period: less than 7 days at 1.5%; between 7 days and 1 year at 0.1%; over 1 year no redemption fee. The fund does not charge sales service fees. Pension investors subscribing through the fund’s direct sales center may receive different fee rates from other investors; details are in the fund’s募集说明书 and legal documents.

Risk提示: Periodic open bond funds carry the risk that investors may miss the open period and be unable to subscribe or redeem. The fund manager commits to honest, diligent, and prudent management of the fund assets but does not guarantee盈利 or最低收益. Past performance and net值高低 do not indicate future results. Performance of other funds managed by the fund manager does not guarantee future performance of this fund. Past performance of the fund manager does not guarantee future results of new funds. Investors should carefully read the fund合同,募集说明书, and other legal documents before investing. Please choose products suitable for your risk tolerance and investment goals. The above does not constitute investment advice. Markets are risky; please invest cautiously.