前海开源再融资股票：2025年上半年利润453.54万元 净值增长率1.1%
Sou Hu Cai Jing·2025-09-04 13:31

Core Viewpoint - The Qianhai Kaiyuan Refinance Stock Fund (001178) reported a profit of 4.5354 million yuan for the first half of 2025, with a weighted average profit per fund share of 0.0115 yuan. The fund's net value growth rate was 1.1%, and its total scale reached 461 million yuan by the end of the first half of the year [3]. Fund Performance - As of September 3, the fund's net value growth rates were as follows: 24.96% over the last three months, 23.78% over the last six months, 52.63% over the last year, and 11.83% over the last three years, ranking 53/167, 54/167, 56/166, and 67/160 among comparable funds respectively [6]. Valuation Metrics - As of June 30, 2025, the fund's weighted price-to-earnings (P/E) ratio was approximately 49.94 times, compared to the industry average of 23.39 times. The weighted price-to-book (P/B) ratio was about 2.34 times, slightly lower than the industry average of 2.44 times. The weighted price-to-sales (P/S) ratio was around 1.01 times, significantly lower than the industry average of 2.1 times [11]. Growth Metrics - For the first half of 2025, the fund's weighted revenue growth rate was 0.12%, and the weighted net profit growth rate was 1.71%. The weighted annualized return on equity was 0.05% [18]. Risk and Return Analysis - The fund's Sharpe ratio over the last three years was 0.2348, ranking 45/159 among comparable funds. The maximum drawdown over the last three years was 42.41%, with the largest single-quarter drawdown occurring in Q1 2024 at 20.78% [25][27]. Fund Composition - As of June 30, 2025, the fund had a total of 85,700 holders, with a total of 384 million shares held. Management personnel held 173,700 shares (0.05%), institutions held 21.13%, and individual investors accounted for 78.87% [35]. The fund's turnover rate for the last six months was approximately 94.28%, consistently below the industry average for one year [38]. The fund's top ten holdings accounted for over 60% of its assets for nearly two years, with major stocks including Seres, BAIC Blue Valley, Shandong Gold, and others [40].