博时医疗保健混合A：2025年上半年利润1.08亿元 净值增长率5.27%

Core Viewpoint - The BoShi Healthcare Mixed A Fund (050026) reported a profit of 108 million yuan for the first half of 2025, with a weighted average profit per fund share of 0.1206 yuan. The fund's net value growth rate was 5.27%, and its total size reached 2.065 billion yuan by the end of the reporting period [2]. Fund Performance - As of September 3, 2025, the fund's one-year cumulative net value growth rate was 25.24%, ranking 126 out of 136 comparable funds. Over the past three months, the growth rate was 10.46%, ranking 130 out of 138 [5]. - The fund's three-year Sharpe ratio was -0.3329, ranking 101 out of 105 comparable funds, and the maximum drawdown over the past three years was 35.45%, ranking 75 out of 107 [24][26]. Fund Holdings and Valuation - As of June 30, 2025, the fund's weighted average price-to-earnings (P/E) ratio was approximately 43.58 times, significantly lower than the industry average of 120.96 times. The weighted average price-to-book (P/B) ratio was 3.27 times, compared to the industry average of 4.07 times [10]. - The fund's weighted average revenue growth rate for the first half of 2025 was 0.02%, while the weighted average net profit growth rate was -0.03% [16]. Fund Management and Strategy - The fund manager, Chen Ximing, oversees three funds, all of which have shown positive returns over the past year. The BoShi Healthcare Mixed A Fund is focused on long-term investments in pharmaceutical and healthcare stocks [2]. - The fund management indicated that the innovative drug sector in the Hong Kong stock market remains strong, benefiting from favorable liquidity conditions and superior quality of companies. They expect continued opportunities in the pharmaceutical industry, especially with a potential policy recovery in China [2]. Fund Composition - As of June 30, 2025, the fund's total assets amounted to 2.065 billion yuan, with 211,300 holders collectively owning 861 million shares. Individual investors accounted for 99.72% of the holdings [31][34]. - The top ten holdings of the fund included companies such as DiZhe Pharmaceutical, Zejing Pharmaceutical, and Hengrui Medicine [39].