兴证全球红利量化选股股票A：2025年第二季度利润845.82万元 净值增长率5%

Core Viewpoint - The AI Fund Xingzheng Global Dividend Quantitative Stock A (021979) reported a profit of 8.4582 million yuan for Q2 2025, with a net value growth rate of 5% during the period, and a fund size of 164 million 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 0.0477 yuan [3]. - As of July 21, the unit net value was 1.1 yuan, with a three-month cumulative net value growth rate of 10.90%, ranking 76 out of 167 comparable funds [3]. - The six-month cumulative net value growth rate was 11.89%, ranking 58 out of 167 comparable funds [3]. Fund Management Strategy - The fund manager, Tian Dawei, emphasizes a focus on stable models to align with performance benchmarks and aims for excess returns [3]. - The fund maintains a majority of holdings in constituent stocks, ensuring a degree of market capitalization neutrality [3]. - There is a strong emphasis on investing in Hong Kong dividend assets, with careful attention to exchange rate fluctuations [3]. Fund Metrics - The fund's Sharpe ratio since inception is 0.1422 [8]. - The maximum drawdown since inception is 9.84%, with the largest quarterly drawdown occurring in Q2 2025 at 8.92% [11]. - The average stock position since inception is 61.43%, compared to the industry average of 88.01% [14]. Top Holdings - As of the end of Q2 2025, the fund's top ten holdings include: Chongqing Rural Commercial Bank, China Merchants Jinling, Jiangsu Bank, Kerry Properties, Shanghai Bank, Agricultural Bank of China, China Construction Bank, Kwan Hung Holdings, CITIC Bank, and China People's Insurance Group [17].