泉果消费机遇混合发起式：2025年第二季度利润86.98万元 净值增长率1.28%

Core Viewpoint - The AI Fund Qian Guo Consumer Opportunities Mixed Fund (022223) reported a profit of 869,800 yuan for Q2 2025, with a weighted average profit per fund share of 0.0157 yuan, and a net asset value growth rate of 1.28% during the period [3]. Fund Performance - As of the end of Q2 2025, the fund's scale was 61.93 million yuan [9]. - The fund's unit net value was 1.102 yuan as of July 21 [3]. - The fund's three-month cumulative net value growth rate was 8.11%, ranking 424 out of 615 comparable funds [5]. - The fund's six-month cumulative net value growth rate was 8.30%, ranking 374 out of 615 comparable funds [5]. Investment Strategy - The fund manager indicated a slight increase in the fund's position during Q2, with new allocations in the beauty care, gaming, and upstream cyclical sectors, while maintaining positions in beer, internet, and high-end manufacturing sectors [3]. - The fund has reduced its holdings in the automotive and liquor sectors [3]. - The allocation to Hong Kong stocks in new consumption and internet companies has increased to nearly 30% [3]. - The fund maintains a cautious optimism regarding the market, with a focus on emerging industries and traditional sectors showing signs of recovery [3]. Risk Metrics - As of June 27, the fund's Sharpe ratio since inception was 0.0856 [8]. - The maximum drawdown since inception was 11.06%, with the largest quarterly drawdown occurring in Q2 2025 at 8.75% [8]. - The average stock position since inception was 69.74%, compared to the peer average of 83.27% [8].