交银产业机遇混合：2025年第二季度利润4321.38万元 净值增长率2.8%

Core Viewpoint - The AI Fund, Jiaoyin Industrial Opportunity Mixed Fund (010094), reported a profit of 43.21 million yuan for Q2 2025, with a net asset value growth rate of 2.8% and a fund size of 1.543 billion yuan as of the end of Q2 2025 [3][15]. Fund Performance - The fund's weighted average profit per share for the reporting period was 0.0271 yuan [3]. - As of July 17, the fund's unit net value was 0.974 yuan [3]. - Over the past three months, the fund's adjusted unit net value growth rate was 6.81%, ranking 134 out of 182 comparable funds [3]. - Over the past six months, the growth rate was 18.89%, ranking 29 out of 182 [3]. - Over the past year, the growth rate was 32.61%, ranking 32 out of 181 [3]. - Over the past three years, the growth rate was 0.04%, ranking 49 out of 172 [3]. Risk and Return Metrics - The fund's Sharpe ratio over the past three years was 0.3485, ranking 23 out of 174 comparable funds [9]. - The maximum drawdown over the past three years was 41.72%, ranking 65 out of 174 [11]. - The largest single-quarter drawdown occurred in Q1 2024, at 31.21% [11]. Investment Strategy - The fund manager indicated a focus on companies advancing in the AI trend, particularly in the multimodal direction, and on consumer-oriented companies that enhance consumer happiness [3]. - The average stock position over the past three years was 86.75%, slightly below the industry average of 87.2% [14]. - The fund reached its highest stock position of 89.87% by the end of Q3 2024, with a low of 53.99% at the end of 2020 [14]. Holdings Concentration - As of the end of Q2 2025, the fund had a high concentration in its top ten holdings, which included Pop Mart, Kying Network, G-bits, Li Ning, Tencent Holdings, Kingsoft Office, Shanghai Film, Beike-W, Kuaishou-W, and Bairun Shares [18].