Report Industry Investment Rating No relevant content provided. Core Viewpoints - On July 15, 2025, the Shanghai Composite Index fell 0.42% to 3505.00 points, the Shenzhen Component Index rose 0.56% to 10744.56 points, and the ChiNext Index rose 1.73% to 2235.05 points. The total trading volume of A - shares in the two markets was 1635.3 billion yuan. The top - performing industries were communications (4.61%), computer (1.42%), and electronics (0.79%), while the bottom - performing industries were coal (-1.92%), agriculture, forestry, animal husbandry and fishery (-1.62%), and public utilities (-1.60%) [2][6] Summary by Directory Market Overview - The Shanghai Composite Index decreased by 0.42% to 3505.00 points, the Shenzhen Component Index increased by 0.56% to 10744.56 points, and the ChiNext Index rose by 1.73% to 2235.05 points. The trading volume of A - shares in the two markets reached 1635.3 billion yuan. The top - rising industries were communications, computer, and electronics, and the top - falling industries were coal, agriculture, forestry, animal husbandry and fishery, and public utilities [2][6] Stock ETF - The top - trading - volume stock ETFs included the Huaxia Shanghai Sci - Tech Innovation Board 50 ETF (up 0.19% with a premium rate of 0.35%), Huaxia CSI A500 ETF (up 0.10% with a premium rate of 0.05%), and Huatai - Berry CSI 300 ETF (unchanged with a premium rate of -0.03%). The report also presented detailed information on the top ten trading - volume stock ETFs, including code, price, return, tracking index, etc. [3][7][8] Bond ETF - The top - trading - volume bond ETFs were Huaxia Shanghai Benchmark Market - Making Corporate Bond ETF (up 0.14% with a premium rate of -0.03%), Haifutong CSI Short - Term Financing ETF (up 0.02% with a premium rate of 0.00%), and Southern Shanghai Benchmark Market - Making Corporate Bond ETF (up 0.15% with a premium rate of -0.02%). The report also provided details of the top five trading - volume bond ETFs [4][9][10] Gold ETF - Gold AU9999 dropped 0.18% and Shanghai Gold fell 0.10%. The top - trading - volume gold ETFs were Huaan Gold ETF (down 0.05% with a premium rate of -0.19%), Boshi Gold ETF (down 0.13% with a premium rate of -0.21%), and E Fund Gold ETF (down 0.15% with a premium rate of -0.24%). The report also showed information on the top five trading - volume gold ETFs [12][13] Commodity Futures ETF - Huaxia Feed Soybean Meal Futures ETF decreased by 0.41% with a premium rate of 0.29%, Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF dropped by 0.97% with a premium rate of -0.66%, and Dacheng Non - Ferrous Metals Futures ETF fell by 0.59% with a premium rate of -0.44%. The report also provided details on commodity futures ETFs, including tracking indexes and their returns [15][16] Cross - border ETF - The previous trading day saw the Dow Jones Industrial Average rise 0.20%, the Nasdaq rise 0.27%, and the S&P 500 rise 0.14%, while the German DAX fell 0.39%. On July 15, the Hang Seng Index rose 1.60% and the Hang Seng China Enterprises Index rose 1.65%. The top - trading - volume cross - border ETFs included E Fund CSI Hong Kong Securities Investment Theme ETF (down 1.34% with a premium rate of -1.14%), GF CSI Hong Kong Innovative Drug ETF (up 2.93% with a premium rate of 2.89%), and Huaxia Hang Seng Tech ETF (up 1.68% with a premium rate of 1.88%). The report also listed the top five trading - volume cross - border ETFs [17][18] Money ETF - The top - trading - volume money ETFs were Silver Hua Day - to - Day Profit ETF, Huabao Tianyi ETF, and Money ETF Jianxin Tianyi. The report also presented the trading volumes of the top three trading - volume money ETFs [19][20]

Group 1 - The core point of the article highlights the recent performance of the Jiashi Zhongdai 3-5 Year National Development Bank Bond Index A, which has seen a decline of 0.05% on July 14, with a cumulative drop of 0.89% over five consecutive trading days [1] - The fund was established in December 2019, with a total scale of 3.749 billion yuan and an accumulated return of 20.73% since inception [1] - As of the end of 2024, institutional investors hold 99.72% of the fund's total shares, while individual investors account for only 0.28% [1] Group 2 - The current fund manager, Zhang Wenyue, has extensive experience in the financial market, having previously worked as a money market trader and bond investment manager at China Postal Savings Bank [2] - Zhang has been with Jiashi Fund Management since April 2014 and has managed multiple funds, including various money market and bond funds [2] - Starting from December 31, 2024, Zhang will also manage the Jiashi Zhongdai 1-3 Year Policy Financial Bond Index Fund and the Jiashi Zhongdai 3-5 Year National Development Bank Bond Index Fund [2] Group 3 - As of March 31, 2025, the top five holdings of the Jiashi Zhongdai 3-5 Year National Development Bank Bond Index A account for a total of 81.14%, with the largest holding being the 25 National Development Bank bond at 17.26% [3] - The other top holdings include the 24 National Development Bank bonds at 16.35%, 16.00%, and the 23 National Development Bank bonds at 15.86% and 15.67% respectively [3]

Group 1 - The fund management company, Jiashi Fund Management Co., Ltd., held a communication-based meeting for the Jiashi ZhiXiang Pure Bond Fund to discuss adjustments to the redemption fee rate [1] - The voting period for the fund holders was set from June 10, 2025, to July 8, 2025, with the counting of votes supervised by the fund's custodian bank [1] - The meeting did not meet the required quorum, as the voting shares were less than half of the total shares on the record date, resulting in the meeting being unsuccessful [2] Group 2 - The total expenses for the unsuccessful meeting amounted to 30,000 yuan, which includes 7,000 yuan for notarization and 23,000 yuan for legal fees, to be covered by the fund's assets [2] - The fund's second income distribution announcement was made on July 10, 2025, indicating that the fund will distribute dividends at least once per quarter, with a maximum of 12 times a year [4][8] - The actual dividend distribution for this period was set at 0.0810 yuan for every 10 fund shares, with the distribution amount calculated based on the fund's profit available for distribution [8][9]

《每日经济新闻》记者获悉，上周公募REITs市场又迎来多项重磅动态。 从单只产品来看，已上市的68只公募REITs中，二级市场价格环比上涨的达到55只，周均涨幅1.07%。其中涨幅最大的三只产品为中金中国绿发商业资产 REIT、易方达华威市场REIT和华夏南京交通高速公路REIT，周内涨幅分别达到6.50%、5.25%和3.91%。 首先，首单民企仓储物流类REITs正式启动扩募，嘉实京东仓储REIT拟购西安、合肥两个项目。这也是华夏北京保障房REIT扩募上市之后，年内第二单扩募 的产品。 另一方面，上周青城山-都江堰景区REIT确定基金管理人。公开评标结果显示，中航基金中标青城山-都江堰景区基础设施REIT项目，将负责后续基金管理 与运营。 此外，两只数据中心公募REITs定价完成，南方润泽科技数据中心REIT获超百倍认购等也都是上周重要的行业动态。 再来看看市场表现。截至上周五（7月4日），中证REITs（收盘）指数上涨0.65%，收于886.6点；中证REITs全收益指数上涨0.66%，收于1116.4点。 Wind数据显示，全市场已上市的68只公募REITs产品，二级市场价格环比上涨的达到55只，下跌 ...

Core Viewpoint - On July 5, 2025, Jiashi Fund announced a management change, with the resignation of CFO Li Ming and the appointment of current General Manager Jing Lei as the new CFO, effective July 3, 2025 [1][2]. Group 1: Management Changes - Li Ming, the former CFO, resigned due to personal reasons after serving for 2 years and 4 months [1][2]. - Jing Lei has extensive experience in the financial sector, having worked at AIG and AIA before joining Jiashi Fund in 2013 [2][4]. - Jing Lei's dual role as General Manager and CFO indicates a strategic integration of financial management into the company's decision-making processes [4]. Group 2: Company Performance - As of the end of Q2 2025, Jiashi Fund's public fund management scale reached 1,030.348 billion yuan, ranking eighth in the industry [5]. - The company manages a total of 366 funds, with asset values for various fund types as follows: - Equity funds: 276.636 billion yuan - Bond funds: 264.296 billion yuan - Mixed funds: 101.711 billion yuan - Money market funds: 329.746 billion yuan [5][6].

7月4日，嘉实港股互联网产业核心资产A（011924）下跌0.24%，最新净值0.8元，连续5个交易日下 跌，区间累计跌幅2.32%。 本文源自：金融界 作者：基金君 公开信息显示，现任基金经理王贵重先生:博士研究生,曾任上海重阳投资管理股份有限公司TMT行业研 究员。2015年7月加入嘉实基金管理有限公司,历任TMT行业研究员、科技组组长,现任大科技研究总 监。2019年5月7日至今任嘉实科技创新混合型证券投资基金基金经理,2020年8月21日至今任嘉实文体娱 乐股票型证券投资基金基金经理,2021年2月10日至今担任嘉实创业板两年定期开放混合型证券投资基金 基金经理。2022年1月22日担任嘉实前沿科技沪港深股票型证券投资基金、嘉实前沿创新混合型证券投 资基金基金经理。2023年11月16日担任嘉实创新先锋混合型证券投资基金基金经理。现任基金经理王鑫 晨先生:本科、学士,曾任SPARXGroup、CitigroupGlobalMarkets研究员。2017年9月加入嘉实基金管理有 限公司任行业研究员。2019年05月25日至今任嘉实3年封闭运作战略配售灵活配置混合型证券投资基金 (LOF)基金经理,202 ...

Group 1 - The market has experienced significant structural trends in the first half of the year, driven by policy support and the rise of AI, with themes like humanoid robots, innovative drugs, and new consumption performing well [2] - The average return of 4,434 active equity funds was 6.89% in the first half of the year, excluding newly established funds [2] - Jiashi Fund ranked third among large companies in absolute return for equity funds over the past two years and one year, with over 50 of its products achieving returns exceeding 30% in the past year [2] Group 2 - Jiashi Fund's active equity product, Jiashi Huirong Selected A, achieved a return of 69.56% over the past two years, ranking first among 804 comparable active stock open-end funds [3] - Several Jiashi Fund products, including Jiashi Innovation Pioneer A/C and Jiashi Green Theme A/C, reported returns exceeding 50% in the past year, focusing on core sectors like technology, manufacturing, and new energy [3] Group 3 - Jiashi Fund's "Super ETF" products have performed well in the structural market, with the Sci-Tech Chip ETF (588200) showing a 66.51% increase over the past year [3] - Other ETFs, such as the Hang Seng Medical ETF and Internet ETF, also reported returns exceeding 60% in the same period [3] Group 4 - Jiashi Fund has developed a comprehensive "Sci-Tech Full Jiashi Barrel" series of ETFs targeting high-growth sectors, including various thematic ETFs in the technology industry [4] - The launch of the first batch of Sci-Tech Bond ETFs aims to broaden financing channels for innovative companies and provide a transparent and efficient investment tool for clients [4]

Report Summary 1. Market Overview - The Shanghai Composite Index rose 0.32% to close at 3472.32 points, the Shenzhen Component Index fell 0.25% to close at 10508.76 points, and the ChiNext Index fell 0.36% to close at 2156.23 points. The total trading volume of A-shares in the two markets was 1454.7 billion yuan. The top-performing sectors were banking (1.84%), media (0.91%), and comprehensive (0.71%), while the worst-performing sectors were beauty care (-1.87%), non-ferrous metals (-1.60%), and basic chemicals (-1.22%) [2][6]. 2. Stock ETFs - The top-trading volume stock ETFs today were Huatai-PineBridge CSI 300 ETF (up 0.42% with a discount rate of 0.37%), ChinaAMC CSI A500 ETF (up 0.10% with a discount rate of 0.11%), and Harvest CSI A500 ETF (up 0.10% with a discount rate of 0.08%) [3][7]. 3. Bond ETFs - The top-trading volume bond ETFs today were Haitong CSI Short-term Commercial Paper ETF (up 0.02% with a discount rate of 0.01%), Southern Shanghai Stock Exchange Benchmark Market-making Corporate Bond ETF (up 0.12% with a discount rate of 0.12%), and ChinaAMC Shanghai Stock Exchange Benchmark Market-making Corporate Bond ETF (up 0.12% with a discount rate of 0.13%) [4][9]. 4. Gold ETFs - Gold AU9999 fell 0.55% and Shanghai Gold fell 0.53%. The top-trading volume gold ETFs were HuaAn Gold ETF (down 0.51% with a discount rate of -0.44%), Bosera Gold ETF (down 0.50% with a discount rate of -0.41%), and E Fund Gold ETF (down 0.50% with a discount rate of -0.44%) [12]. 5. Commodity Futures ETFs - ChinaAMC Feed Soybean Meal Futures ETF rose 0.05% with a discount rate of 0.36%, Dacheng Non-ferrous Metals Futures ETF fell 0.64% with a discount rate of -0.77%, and CCB E Fund Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 0.74% with a discount rate of -0.89% [15]. 6. Cross-border ETFs - The Dow Jones Industrial Average rose 0.77%, the Nasdaq Composite rose 1.02%, the S&P 500 rose 0.83%, and the German DAX rose 0.61% the previous trading day. Today, the Hang Seng Index fell 0.64% and the Hang Seng China Enterprises Index fell 0.45%. The top-trading volume cross-border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (up 0.70% with a discount rate of 0.85%), GF CSI Hong Kong Innovative Drugs ETF (up 0.93% with a discount rate of 1.27%), and ChinaAMC Hang Seng Technology ETF (down 0.56% with a discount rate of -0.18%) [17]. 7. Money Market ETFs - The top-trading volume money market ETFs today were Silver HuaRui Day Profit ETF, Huabao Tianyi ETF, and CCB Tianyi Money Market ETF [19].

Fund Overview - The fund is named "Jia Shi Zhong Zheng AAA Technology Innovation Corporate Bond ETF" with the code 159600 [3][16] - It is a bond index fund operating as an exchange-traded fund (ETF) [2][16] - The fund's target index is the "China Securities AAA Technology Innovation Corporate Bond Index" [14][16] Fund Management and Custody - The fund is managed by Jia Shi Fund Management Co., Ltd. and custodied by Industrial Bank Co., Ltd. [3][16] - The registration approval was granted by the China Securities Regulatory Commission on July 2, 2025 [1] Fund Offering Details - The public offering period is from July 7 to July 11, 2025, with options for online and offline cash subscriptions [5][22] - The maximum fundraising target is set at 3 billion RMB, excluding interest and subscription fees [10][18] - The fund's initial share value is 1.00 RMB per share [19] Subscription Process - Investors must have a Shenzhen Stock Exchange A-share account or a securities investment fund account to subscribe [4][34] - Online subscriptions require a minimum of 1,000 shares per transaction, while offline subscriptions through the fund manager require a minimum of 50,000 shares [31][43] - Subscription fees are capped at 0.30% of the subscription amount [8][26] Fund Management Rights - The fund manager reserves the right to adjust the maximum fundraising limit and the subscription timeline based on market conditions [6][33] - If the total subscriptions exceed the maximum limit, a proportional confirmation method will be applied to manage the excess [6][32] Investor Information - The fund is open to individual investors, institutional investors, qualified foreign investors, and other investors permitted by law [4][17] - Investors are advised to ensure the legality of their funds used for subscription [9]

Company Overview - Fengcai Technology (Shenzhen) Co., Ltd. was established in 2010 and specializes in motor drive chip semiconductors, providing high-quality drive and control chips for various motor systems, as well as consulting services in motor technology [1] Stock Performance - Fengcai Technology has experienced a decline in stock price, with a cumulative drop of -17.13% over five consecutive trading days [1] - The performance of the Jiashi Fund's Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF, which is among the top ten shareholders of Fengcai Technology, shows a year-to-date return of 2.90%, ranking 1496 out of 3221 in its category [1] Fund Management - The fund manager of Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF is Tian Guangyuan, who has a background in quantitative research and has held various managerial positions in different funds since joining Jiashi Fund in April 2017 [3] Company Structure - Jiashi Fund Management Co., Ltd. was founded in March 1999 and is led by Chairman An Guoyong and General Manager Jing Lei. The company has three shareholders: Zhongcheng Trust Co., Ltd. (40%), Lixin Investment Co., Ltd. (30%), and DWS Investments Singapore Limited (30%) [4]