The recently disclosed repurchase announcement of listed companies revealed the position adjustment trend of some fund managers. According to the Sangfor Technologies Inc(300454) announcement, as of March 17, the funds managed by star fund managers Xie Zhiyu and Huang Xingliang collectively entered their latest top 10 circulating shareholders, while the China Europe times pioneer fund previously managed by former star fund manager Zhou Yingbo disappeared from the list of top 10 circulating shareholders. In addition, some star fund managers also seek the protection of discount “safety cushion” by participating in the fixed increase of listed companies. Recently, the two funds of Zhonggeng small cap value and Zhonggeng value quality managed by Qiu Dongrong have participated in the fixed increase of Jinhong Fashion Group Co.Ltd(603518) . As of the closing on March 23, the floating profit ratio has exceeded 9%.