Zheng Quan Zhi Xing·2025-08-29 09:43Core Viewpoint - The report provides a comprehensive overview of the performance and management of the Guangfa Growth Enterprise Board Two-Year Regular Open Mixed Securities Investment Fund for the first half of 2025, highlighting its financial metrics, investment strategies, and market outlook. Fund Overview - Fund Name: Guangfa Growth Enterprise Board Two-Year Regular Open Mixed Securities Investment Fund - Fund Manager: Guangfa Fund Management Co., Ltd. - Fund Custodian: China Construction Bank Co., Ltd. - Total Fund Shares at Period End: 242,631,412.08 shares [1] - Fund Net Asset Value at Period End: 209,921,589.98 RMB [2] Financial Performance - Realized Income for the Period: -5,773,176.69 RMB [2] - Profit for the Period: 19,940,221.84 RMB [2] - Average Fund Share Profit for the Period: 0.0822 RMB [2] - Net Asset Value Growth Rate for the Period: 10.50% [2] - Cumulative Net Value Growth Rate: -13.48% [2] Investment Strategy - The fund aims to identify and utilize potential investment opportunities across major asset classes, including stocks, fixed income securities, and cash, while maintaining strict risk control and liquidity [1]. - The investment strategy is based on macroeconomic analysis, policy trends, and market liquidity, adjusting the asset allocation according to different economic cycles [1]. Market Outlook - The report indicates a cautious optimism regarding the domestic economic recovery, emphasizing the need for additional policy support to sustain growth momentum [11]. - Key investment directions include global pricing resources, Chinese manufacturing exports, dividend assets, and emerging sectors such as AI and innovative pharmaceuticals [11]. Compliance and Governance - The fund management adheres to relevant laws and regulations, ensuring that all operations are compliant and in the best interest of fund shareholders [7][13]. - The fund's valuation process is overseen by an independent valuation committee to ensure fairness and objectivity [12]. Performance Comparison - The fund's performance is benchmarked against a composite index, with the fund's net value growth rate of 10.50% significantly outperforming the benchmark's return of 0.98% during the same period [11].