Zheng Quan Zhi Xing·2025-08-29 09:29Fund Overview - The fund is named "Huaxia Feed Soybean Meal Futures ETF" and was established on September 24, 2019, with a total fund share of 1,415,524,066.00 shares as of the report date [1][2] - The fund aims to closely track the underlying index, minimizing tracking deviation and error, primarily investing in soybean meal futures contracts [1][2] - The fund's performance benchmark is the Dalian Commodity Exchange Soybean Meal Futures Price Index [1][2] Financial Performance - The fund achieved a realized income of 107,042,622.83 RMB and a profit of 221,869,766.60 RMB during the reporting period from January 1, 2025, to June 30, 2025 [2][14] - The weighted average net value profit rate was 7.24%, and the fund share net value growth rate was 5.01% [2][14] - As of June 30, 2025, the fund's net asset value was 2,717,299,342.80 RMB, with a share net value of 1.9196 RMB [2][14] Market Analysis - The domestic economy showed a stable recovery with a GDP growth rate of 5.3% in the first half of 2025, despite external tariff impacts [9] - The soybean meal market experienced fluctuations, initially driven by drought conditions in South America and subsequent adjustments in U.S. soybean yield forecasts [9][10] - The fund's investment strategy includes actively managing investor subscriptions and redemptions while tracking the underlying index [10] Management and Operations - Huaxia Fund Management Company, established in April 1998, is one of the first national fund management companies approved by the China Securities Regulatory Commission [3][4] - The company has a comprehensive product line covering various indices and has received multiple awards for its performance and contributions to the fund industry [4][5] - The fund management adheres to strict compliance with relevant laws and regulations, ensuring fair treatment of all funds under management [8][12] Future Outlook - The fund anticipates limited downside potential for soybean meal prices, with factors such as U.S. soybean planting area and weather conditions being critical to monitor [10] - The management emphasizes maintaining low tracking deviation and error to achieve investment goals for fund shareholders [11]