长城港股通价值混合C,长城港股通价值精选混合A: 长城港股通价值精选多策略混合型证券投资基金2025年第2季度报告

Core Viewpoint - The report highlights the performance and investment strategy of the Great Wall Hong Kong Stock Connect Value Selection Mixed Fund for the second quarter of 2025, emphasizing its focus on undervalued stocks with strong fundamentals and the potential for stable long-term returns [1][2]. Fund Overview - Fund Name: Great Wall Hong Kong Stock Connect Value Selection Mixed Fund - Fund Code: 007132 - Fund Type: Contractual open-end fund - Effective Date: June 26, 2019 - Total Fund Shares at Reporting Period End: 114,143,744.19 shares - Investment Objective: Focus on Hong Kong Stock Connect stocks, selecting fundamentally sound and undervalued companies to pursue long-term stable investment returns [1]. Investment Strategy - The fund employs a comprehensive analysis of macroeconomic conditions, policy trends, and market movements to actively determine asset allocation across various asset classes, including stocks and bonds [2]. - The strategy includes evaluating companies based on their competitive position, core product strength, market demand, and decision-making capabilities, using various valuation methods to identify undervalued stocks [2]. - The fund utilizes multiple strategies for stock selection, including high dividend growth, industry leader growth, high growth, A-H share price difference, and Davis double-click strategies to enhance return stability [2]. Performance Metrics - The fund's net value growth rate for Class A shares was 8.90%, while Class C shares achieved a growth rate of 8.72%, both outperforming the benchmark return of 2.70% during the reporting period [8]. - Over the past three months, the fund's return was 2.50%, and over the past six months, it was 2.47% [3]. Investment Composition - The fund's total assets included approximately 120,897,403.01 RMB in stocks, representing 86.16% of the total fund assets, with 89.17% of the net asset value invested in Hong Kong stocks through the Stock Connect mechanism [9]. - The fund's sector allocation included significant investments in consumer discretionary (29.13%), information technology (24.34%), and telecommunications (27.10%) [10][11]. Management Report - The fund manager has adhered to legal regulations and internal policies, ensuring fair treatment of investors and maintaining a focus on risk management [5]. - The fund's performance is attributed to investments in the Chinese technology and internet sectors, which have shown strong growth potential, particularly in areas integrating AI [6][8]. Future Outlook - The fund remains optimistic about the future of the Hong Kong technology and internet sectors, anticipating continued growth driven by favorable policies and emerging consumer trends [8]. - The focus will continue to be on value investing, emphasizing long-term performance over short-term gains [7].