清晨七点，盐城经开区步凤镇前途村的建行助农服务点已排起长队。头发花白的村民们攥着社保卡、存 折，望着远处驶来的蓝色服务车，脸上露出安心的笑容。这样的场景，已在前途村持续了2000多个日 夜。 村民刘奶奶来到设在村里的建行银行助农服务点，2分钟不到就取到了钱。过去，她要往返10公里到市 区的网点办理业务，如今"家门口的银行"让她感叹"太方便了"。提起这个助农服务点，红升村村民卞大 叔，也有这样的感受，"助农服务点设在村里，就像家门口的银行，走两步就到。"卞大叔说，"孩子在 外省上学，每个月都要给孩子转生活费，建行银行助农服务点帮我节省了好多的时间和精力。"这些变 化源于江苏省盐城开发区支行自2017年起推动的助农取款点建设——这一举措不仅成为普惠金融的生动 实践，更成为乡村振兴的重要助力。 两万公里"为民行" 翻开服务点的"特殊档案"，存着78张泛黄的业务凭证存根：有为卧床老人办理的挂失业务，有疫情期间 代买的降压药，还有帮留守儿童转账的学费记录。八年累计服务12.8万人次，相当于每个村民接受过20 次服务。72岁的王大伯是服务站的"铁粉"。他记得2017年暴雨天，客户经理冒雨到他家办理社保卡挂 失；也记得疫情 ...

Core Insights - China Construction Bank's Yancheng branch successfully provided a "pre-project loan" of 280 million yuan for the "Guoneng Longyuan Shiyang 1 million kW offshore wind power project," marking the first such loan in Jiangsu province and showcasing innovation in financial services for major project construction [1][2] Group 1: Project Significance - The Guoneng Longyuan Shiyang offshore wind power project has a total investment exceeding 10 billion yuan and is crucial for promoting energy structure adjustment and green low-carbon development in Jiangsu province [1] - Upon completion, the project will significantly enhance Jiangsu's clean energy supply capacity and contribute to carbon emission reduction, aiding in achieving the "dual carbon" goals [1] Group 2: Financial Support and Innovation - The Yancheng branch of China Construction Bank identified the urgent funding needs and limited financing channels during the project's preparatory phase and responded proactively to national policy directions [1][2] - A specialized service team was formed to tailor financial service solutions, ensuring that every detail from funding needs to repayment arrangements was meticulously crafted to meet the project's actual conditions [1] - The project became the first successful implementation of the new regulatory framework for "pre-project loans" in the province, creating a new paradigm for financial services and providing timely funding support during the preparatory phase [2] Group 3: Operational Efficiency - The project was processed from application to approval in just four working days, demonstrating the "Construction Bank speed" through efficient collaboration among provincial, municipal, and county-level branches [2] - The successful implementation of the first "pre-project loan" enhances China Construction Bank's market competitiveness and brand influence in Yancheng and across Jiangsu province, serving as a valuable reference for other financial institutions [3]

Group 1 - The core viewpoint highlights the significant role of financial support from China Construction Bank in boosting the local crab farming industry in Guannan County, which has a long history of over 30 years in crab cultivation [1][2] - The crab farming area in Guannan County has reached over 20,000 acres, generating an annual output value of nearly 300 million yuan [2] - China Construction Bank has provided over 45.8 million yuan in loans to 63 crab farmers in Guannan County, demonstrating its commitment to supporting local agricultural development [2] Group 2 - The bank has optimized its financial service model, focusing on the integration of primary, secondary, and tertiary industries, and enhancing comprehensive financial services for agricultural industry clusters [2][3] - The bank has developed various loan products tailored to the needs of farmers, including "Rural Revitalization Loan," "Agricultural Machinery Loan," and "Urban-Rural Integration Loan" [3] - As of the end of June, the bank's agricultural loan balance reached 12.52 billion yuan, indicating strong financial support for the agricultural sector [2][3]

Core Viewpoint - The report outlines the performance and investment strategy of the Galaxy High-end Equipment Mixed Initiated Securities Investment Fund for the second quarter of 2025, emphasizing its focus on high-end equipment manufacturing and the impact of global economic factors on investment returns [1][2]. Fund Overview - The fund is managed by Galaxy Fund Management Co., Ltd. and is designed to invest primarily in high-end equipment-related securities, aiming for long-term stable asset appreciation [1][2]. - The fund's performance benchmark is a combination of the CSI High-end Equipment Manufacturing Index and other indices, reflecting its investment strategy [1][3]. Financial Indicators and Fund Performance - As of the end of the reporting period, the total fund shares amounted to 10,391,741.03, with specific shares for Class A and Class C being 10,207,949.73 and 183,791.30 respectively [1][2]. - The net value growth rates for Class A and Class C during the reporting period were -0.55% and -0.70%, respectively, while the benchmark return was 0.52% [5][13]. Investment Strategy - The fund focuses on three main areas: import substitution in equipment, overseas expansion in advantageous sectors, and cyclical fluctuations in the equipment industry [2][3]. - The investment strategy aims to leverage professional research capabilities to select competitively strong companies with good cost-performance ratios [2][3]. Market Influences - The report highlights that external factors, such as tariffs and geopolitical conflicts, significantly impacted the stock market during the reporting period [12]. - The fund adjusted its industry allocation by increasing investments in electronics and communications while reducing exposure to power equipment [12]. Asset Allocation - The fund's asset allocation at the end of the reporting period included a significant portion in stocks, with a fair value of approximately 10,914,929.04 RMB, representing 84.30% of the total net asset value [16]. - The fund did not hold any bonds or asset-backed securities during the reporting period [16][18]. Management Report - The fund manager, with 25 years of experience in the securities industry, emphasizes adherence to legal regulations and a commitment to the interests of fund shareholders [7][11]. - The management team has implemented strict risk management and internal control systems to ensure compliance and protect investor interests [11][12].

Group 1 - The fund aims to invest in representative and competitive blue-chip companies in the Chinese economy, seeking long-term stable appreciation of fund assets while effectively controlling risks [1][2] - The fund's investment strategy includes asset allocation, stock investment in financially sound companies with significant market positions, and bond investment strategies [2][4] - The fund's performance benchmark is set at 75% of the CSI 300 Index return plus 25% of the Shanghai Government Bond Index return [2][6] Group 2 - As of the end of the reporting period, the total fund shares amounted to 102,994,240.14, with a net asset value of 3.715 yuan for Class A and 3.625 yuan for Class C [1][14] - The fund's net value growth rates for the past three months were -4.43% for Class A and -4.63% for Class C, with performance benchmarks yielding 1.32% [6][14] - The fund's asset allocation at the end of the reporting period was predominantly in stocks, accounting for 93.07% of total assets, with no holdings in bonds or asset-backed securities [15][16] Group 3 - The fund manager has committed to managing and utilizing fund assets with principles of honesty, diligence, and responsibility, while not guaranteeing profits [1][10] - The fund's investment portfolio is regularly adjusted based on market conditions, with a focus on growth stocks that match performance and valuation [14][17] - The fund has not engaged in any transactions that could lead to unfair trading or conflicts of interest during the reporting period [11][13]

银河沪深 300 价值指数证券投资基金 基金管理人：银河基金管理有限公司 基金托管人：中国建设银行股份有限公司 报告送出日期：2025 年 7 月 18 日 银河沪深 300 价值指数证券投资基金 2025 年第 2 季度报告 §1 重要提示 基金管理人的董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 基金托管人中国建设银行股份有限公司根据本基金合同规定，于 2025 年 07 月 15 日复核了本 报告中的财务指标、净值表现和投资组合报告等内容，保证复核内容不存在虚假记载、误导性陈 述或者重大遗漏。 §2 基金产品概况 基金简称 银河沪深 300 价值指数 基金合同生效日 2009 年 12 月 28 日 报告期末基金份额总额 1,262,675,488.01 份 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅读本 基金的招募说明书。 本报告中财务资料未经审计。 本报告期自 2025 年 04 月 01 日起至 06 ...

Group 1 - The fund aims for long-term stable appreciation of assets while controlling investment risks through in-depth research on industry trends and company fundamentals [2][3] - The fund's investment strategy combines rigorous stock selection methods with an active investment style, focusing on growth stocks with good performance and reasonable valuations [2][3] - The fund's performance benchmark is a combination of 50% CSI 300 Index return and 50% China Bond Index return [2] Group 2 - As of the end of the reporting period, the total fund shares amounted to 394,669,114.05 [2] - The fund's net asset value per share for Class A was 1.5415 RMB, with a net value growth rate of -4.25% during the reporting period [11] - The fund's net asset value per share for Class C was 1.5193 RMB, with a net value growth rate of -4.39% during the reporting period [11] Group 3 - The fund's asset allocation at the end of the reporting period was primarily in stocks, accounting for 89.10% of total assets, with no holdings in bonds or asset-backed securities [12][13] - The fund's major investments were concentrated in the manufacturing sector, which represented 68.34% of the total asset value [12] - The fund maintained a high level of investment during the reporting period, with slight adjustments made to the portfolio based on market conditions [10]

Core Insights - The establishment of the Shenzhen Marine Financial Alliance aims to accelerate the integration of finance and marine industries, supporting the construction of a global marine center city in Shenzhen [1][2] - The alliance emphasizes a development path of "policy guidance + market operation + ecological collaboration" to enhance the marine financial ecosystem [1] - The first investment and financing matchmaking event facilitated precise connections between financial supply and industry demand, showcasing marine-specific financial products [1] Group 1: Marine Economic Development - Shenzhen's marine production value is projected to reach 540.9 billion yuan in 2024, accounting for 14.7% of the city's GDP, with a year-on-year growth of 5.8% [2] - The city ranks 23rd in the world maritime city rankings and has over 740 licensed financial institutions, with a total market value of 8.66 trillion yuan among 419 A-share listed companies [2] Group 2: Financial Institutions' Role - Financial institutions in Shenzhen are actively supporting marine economic development, with the China Development Bank's Shenzhen branch having a marine financing balance exceeding 30 billion yuan [2] - The Construction Bank's Shenzhen branch has established a dedicated credit limit of 30 billion yuan for the marine sector, covering the entire marine fishery industry chain [2] - The Bank of China and Agricultural Bank jointly issued the first blue bond of 500 million yuan in the Guangdong-Hong Kong-Macao Greater Bay Area to support marine ecological protection and industrial upgrading [2] Group 3: Future Initiatives - The alliance plans to hold at least 1 to 2 investment and financing matchmaking events annually to continuously promote the implementation of credit, equity, and risk protection services for marine enterprises [1] - As the alliance deepens its operations, Shenzhen aims to integrate various financial resources and explore innovative marine financial products and risk protection systems [2]

Group 1 - The fund aims to select undervalued quality listed companies through in-depth analysis of the fundamentals of companies and industries, with a focus on achieving investment returns that exceed the performance benchmark while strictly controlling risks [2][4] - The fund's investment strategy allows for a stock investment ratio of 60%-95% of the total assets, with a performance benchmark of 60% of the CSI 800 Index return, 15% of the Hong Kong Hang Seng Composite Index return, and 25% of the CSI All Bond Index return [2][4] - The fund is classified as a mixed fund, with expected returns and risk levels higher than money market and bond funds, but lower than equity funds [2][4] Group 2 - As of the end of the reporting period, the total number of fund shares was 2,024,294,612.47 [2] - The fund's A class share net value growth rate for the reporting period was 4.95%, while the C class share net value growth rate was 4.81%, compared to a benchmark return of 1.90% [11] - The fund's performance over the past year showed a net value growth rate of 20.39% and a performance benchmark return of 16.25% [6][11] Group 3 - The fund's total assets included 91.65% in common stocks and 0.30% in bonds, with a significant portion of equity investments made through the Hong Kong Stock Connect mechanism [12][13] - The fund's investment portfolio was diversified across various sectors, with notable allocations in transportation, manufacturing, and energy [12][13] - The fund management adhered to strict internal controls and fair trading principles, ensuring compliance with regulations and protecting the interests of fund holders [9][10]

Core Viewpoint - The banking sector is experiencing a valuation recovery, with significant interest from institutional investors, particularly in Hong Kong-listed banks due to their attractive dividend yields and lower valuations compared to A-shares [1][4]. Group 1: Market Trends - Bank stocks have seen a resurgence, with southbound funds net buying HKD 1.86 billion in Hong Kong stocks, particularly favoring H-shares like China Construction Bank [1]. - Hangzhou Bank reported a net profit of CNY 11.662 billion, a year-on-year increase of 16.67%, indicating strong performance in the current economic environment [1]. - Over 60% of insurance institutions plan to increase their investments in Hong Kong stocks by 2025, with an estimated additional capital inflow of over CNY 250 billion, focusing on high-dividend H-shares [1]. Group 2: Investment Vehicles - The Bank AH Selected ETF (517900) has gained 25.69% year-to-date, outperforming the CSI Bank Index by approximately 11 percentage points [2]. - The ETF has attracted significant capital inflow, with over CNY 470 million in the last 20 trading days and nearly CNY 700 million in two months [5]. Group 3: Investment Appeal - H-shares are often cheaper and offer higher dividend yields compared to A-shares, making them more attractive to institutional investors [4]. - The banking sector is shifting from being viewed as a cyclical industry to a more stable investment option, driven by low interest rates and steady demand for financial products [7].