2025 Annual Report Intensive Disclosure, QFII's Latest Holdings Roadmap Emerges

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As A-share listed companies’ 2025 annual reports enter a period of intensive disclosures, the latest portfolio movements of qualified foreign institutional investors (QFII) are gradually coming to light. According to Wind data, as of the time of this report on March 25, among listed companies that have already disclosed their top 10 tradable shareholders at the end of 2025, several globally well-known institutions have appeared, including Goldman Sachs, JPMorgan Securities, Temasek, and others. Judging by the overall direction of reshuffling, in the fourth quarter of 2025, QFII buying and selling showed a fairly marked divergence. Foreign holdings are mainly concentrated in niche sectors such as biopharma, machinery, and semiconductors—areas with technological moats and long-term growth logic. (China Securities Journal)

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