On March 29, 2025, Baili Tianheng (688506.SH) released its 2024 annual report. As of March 28, 2025, a total of 149 institutional investors disclosed their holdings of A shares of Baili Tianheng, with a total of 65,914,200 shares, accounting for 16.44% of Baili Tianheng's total share capital. Among them, the top 10 institutional investors include OAP III (HK) Limited, China Merchants Bank Co., Ltd. - ChinaAMC SSE STAR Market 50 Component Exchange-traded Open-ended Index Securities Investment Fund, Industrial and Commercial Bank of China Co., Ltd. - E Fund SSE STAR Market 50 Component Exchange-traded Open-ended Index Securities Investment Fund, Guangzhou Telford Investment Consulting Partnership (Limited Partnership) - Guangzhou Telford II Equity Investment Fund (Limited Partnership), Bank of China Co., Ltd.-GF Healthcare Equity Securities Investment Fund, China Construction Bank Corporation-Wells Fargo Precision Medicine Flexible Allocation Hybrid Securities Investment Fund, Industrial and Commercial Bank of China Co., Ltd.-China-Europe Medical and Health Hybrid Securities Investment Fund, SDIC Securities Investment Co., Ltd., CITIC Securities-Industrial Bank-CITIC Securities Baili Tianheng Employee Participation in the Strategic Placement Collective Asset Management Plan of the Science and Technology Innovation Board, China Merchants Bank Co., Ltd. - China Universal Medical Services Flexible Allocation Hybrid Securities Investment Fund, with a total shareholding ratio of 12.41% held by the top 10 institutional investors. Compared with the previous quarter, the total shareholding ratio of the top 10 institutions decreased by 0.73 percentage points.

In terms of public funds, a total of 5 public funds increased their holdings in this period compared with the previous period, including Ping An Medical and Health Mixed A, China Universal Medical Service Flexible Allocation Mixed A, Harvest SSE Science and Technology Innovation Board Biomedical ETF, Taixin Medical Service Mixed Initiator A, and Minsheng Jiayin Innovation and Growth Mixed A, with a slight increase in shareholdings. A total of 11 public funds decreased their holdings in this period compared with the previous quarter, mainly including ChinaAMC SSE Science and Technology Innovation Board 50 Component ETF, E Fund SSE Science and Technology Innovation Board 50 ETF, GF Healthcare Stock A, Wells Fargo Precision Medicine Flexible Allocation Hybrid A, Penghua Pharmaceutical Technology Stock A, etc., with a decrease of 0.49%. A total of 78 public funds were newly disclosed in this period compared with the previous quarter, mainly including China-Europe Healthcare Mixed A, E Fund CSI 300 Pharmaceutical ETF, Innovative Drugs, Harvest CSI 300 ETF, Bank of Communications Pharmaceutical Innovation Stock A, etc. A total of 49 public funds were not disclosed in this period compared with the previous quarter, mainly including CUAM Fuda Xin Mix A, E Fund Healthcare Industry Mix A, Southern Medicine and Healthcare Flexible Allocation Mix A, JPMorgan Xinxing Power Mix A, GF Pharmaceutical and Health Mix A, etc.