Central Huijin's Role in the Market - Central Huijin has played a significant role as a "stabilizer" in the capital market by increasing its holdings in major ETFs, with an estimated increase of over 200 billion yuan in Q2 [1][2][3] - The company has emphasized its commitment to maintaining market stability and will continue to act decisively when necessary [1][3] ETF Holdings and Increases - In Q2, Central Huijin Asset Management increased its holdings in various ETFs, including 84.29 million shares of E Fund CSI 300 ETF and 92.88 million shares of Huaxia CSI 300 ETF, among others [2][3] - The total scale of Central Huijin's holdings in the ten major ETFs rose from over 360 billion yuan at the end of last year to over 580 billion yuan in the first half of this year [3] Market Response and Confidence - Following external disturbances that affected the A-share market, Central Huijin and other state-owned entities announced their intention to increase ETF holdings, which significantly boosted market confidence [3][4] - On April 8, a record net inflow of nearly 100 billion yuan was observed in several ETFs, indicating strong market support [4] Asset Management Adjustments - Central Huijin has shown signs of portfolio adjustments in its asset management plans, with significant holdings in various ETFs [5][6] - The company has been actively managing its investments, including reducing holdings in certain ETFs while increasing others [5][6]

Group 1 - The equity market has attracted attention again, with the Shanghai Composite Index recording four consecutive weeks of weekly gains, particularly in sectors like innovative pharmaceuticals and rare earths [1][2] - Publicly offered Fund of Funds (FOF) have shown high investment success rates, with some equity FOFs achieving weekly net value increases exceeding 4% [2][3] - The second quarter reports reveal that many funds have allocated resources to high-interest sectors, with specific sub-indices performing well and being heavily held by various FOFs [2][4] Group 2 - The performance of various funds indicates a focus on related sectors, with successful funds investing in both index and actively managed products, as well as in specific industry indices [3][4] - The A-share market continues its upward trend, driven by strong performance in the upstream computing sector and the telecommunications sector, while the banking sector has weakened [3][4] - Increasingly, FOFs are focusing on healthcare and military-related funds, with several funds making significant allocations to these sectors in their second-quarter reports [4][5] Group 3 - Long-term investment opportunities are anticipated in the military sector, with expectations of an overall market upturn as issues affecting military planning are resolved [5]

Market Overview - The Shanghai Composite Index rose 0.72% to close at 3559.79 points, the Shenzhen Component Index rose 0.86% to close at 11007.49 points, and the ChiNext Index rose 0.87% to close at 2296.88 points. The trading volume of A-shares in the two markets was 1727.4 billion yuan. The top-performing sectors were building materials (6.06%), building decoration (3.79%), and steel (3.44%), while the underperforming sectors were banking (-0.77%), comprehensive (-0.34%), and computer (-0.31%) [2][6] Stock ETF - The top-traded stock ETFs today were Huaxia CSI A500 ETF (up 0.60%, discount rate 0.72%), Southern CSI A500 ETF (up 0.77%, discount rate 0.75%), and Huatai-PineBridge CSI 300 ETF (up 0.61%, discount rate 0.64%) [3][7] Bond ETF - The top-traded bond ETFs today were Haifutong CSI Short-term Financing Bond ETF (down 0.01%, discount rate -0.00%), Huaxia CSI AAA Sci-tech Innovation Corporate Bond ETF (down 0.08%, discount rate -0.01%), and Fullgoal CSI AAA Sci-tech Innovation Corporate Bond ETF (down 0.03%, discount rate -0.05%) [4][9] Gold ETF - Gold AU9999 rose 0.50% and Shanghai Gold rose 0.63% today. The top-traded gold ETFs were Huaan Gold ETF (up 0.58%, discount rate 0.45%), E Fund Gold ETF (up 0.60%, discount rate 0.46%), and Bosera Gold ETF (up 0.58%, discount rate 0.44%) [12] Commodity Futures ETF - Huaxia Feed Soybean Meal Futures ETF rose 0.40% with a discount rate of 0.69%, Dacheng Non-ferrous Metals Futures ETF rose 1.54% with a discount rate of 1.69%, and Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 1.94% with a discount rate of 1.59% [15] Cross-border ETF - The Dow Jones Industrial Average fell 0.32%, the Nasdaq Composite rose 0.05%, the S&P 500 fell 0.01%, and the German DAX fell 0.33% in the previous trading session. Today, the Hang Seng Index rose 0.68% and the Hang Seng China Enterprises Index rose 0.60%. The top-traded cross-border ETFs today were E Fund CSI Hong Kong Securities Investment Theme ETF (up 3.30%, discount rate 3.32%), GF CSI Hong Kong Innovative Drug ETF (down 1.03%, discount rate -1.22%), and Huaxia Hang Seng Tech ETF (up 1.34%, discount rate 1.18%) [17] Money Market ETF - The top-traded money market ETFs today were Huabao Tianyi ETF, Yin Hua Rili ETF, and Jianxin Tianyi Money Market ETF [19]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - The report analyzes the secondary - market performance of A - shares, overseas major broad - based indices, gold indices, and Nanhua Commodity Index from July 14 to July 18, 2025. It also examines the performance, fund flow, trading volume, margin trading, and new issuance of ETFs during the same period [1][2] 3. Summary by Directory 3.1 Secondary Market Overview - In the sample period, the GEM Index, Hang Seng Index, and CSI 2000 ranked high in weekly returns, at 3.17%, 2.84%, and 1.74% respectively. The PE valuation quantile of CSI 500 was the highest at 100.00%, while that of the Nikkei 225 was the lowest at 64.08% [9] - Among Shenwan primary industries, Communication, Medicine and Biology, and Automobile ranked high in returns, at 7.56%, 4.00%, and 3.28% respectively. Media, Real Estate, and Utilities ranked low, at - 2.24%, - 2.17%, and - 1.37% respectively. The industries with the highest valuation quantiles were Medicine and Biology, National Defense and Military Industry, and Steel, all at 100.00%. The industries with lower valuation quantiles were Agriculture, Forestry, Animal Husbandry and Fishery, Non - Banking Finance, and Household Appliances, at 15.70%, 34.71%, and 38.43% respectively [13] 3.2 ETF Product Overview 3.2.1 ETF Market Performance - QDII ETFs had the best average performance with a weighted average return of 3.52%, while Money Market ETFs had the worst with 0.01% [18] - ETFs related to Hong Kong stocks and ChiNext Innovation 50 performed well, with weighted average returns of 5.01% and 4.47% respectively. ETFs related to Japanese stocks and MSCI China A - share concept performed poorly, with - 0.02% and 1.02% respectively [18] - Among industry - sector ETFs, Biomedical ETFs had the best performance with a weighted average return of 4.94%, while Financial Real Estate ETFs had the worst at - 0.86% [21] - Among theme - based ETFs, Innovative Drug and Artificial Intelligence ETFs performed well, with weighted average returns of 9.98% and 6.51% respectively. Non - Banking and Bank ETFs ranked low, at - 0.80% and - 0.76% respectively [21] 3.2.2 ETF Fund Inflow and Outflow - From the perspective of different categories of ETFs, Industry - Theme ETFs had the largest net inflow of 17.28 billion yuan, while Broad - Based ETFs had the smallest at - 29.709 billion yuan [25] - From the perspective of ETF - tracking indices and their constituent stocks' listing boards, Hong Kong Stock ETFs had the largest net inflow of 10.064 billion yuan, while CSI 300 ETFs had the smallest at - 8.841 billion yuan [25] - From the industry - sector perspective, Financial Real Estate sector ETFs had the largest net inflow of 9.919 billion yuan, while Biomedical sector ETFs had the smallest at - 2.607 billion yuan [26] - From the theme perspective, Non - Banking and Chip Semiconductor ETFs had the largest net inflows of 8.229 billion and 4.319 billion yuan respectively. Artificial Intelligence and Innovative Drug ETFs had the smallest at - 3.102 billion and - 0.797 billion yuan respectively [26] 3.2.3 ETF Trading Volume - From the perspective of different categories of ETFs, QDII ETFs had the largest increase in the average daily trading volume change rate at 18.95%, while Commodity ETFs had the largest decrease at - 21.54% [31] - From the perspective of ETF - tracking indices and their constituent stocks' listing boards, ChiNext Innovation 50 ETFs had the largest increase in the average daily trading volume change rate at 26.92%, while CSI 300 had the largest decrease at - 18.76% [34] - From the industry - sector perspective, the Technology sector had the largest increase in the average daily trading volume change rate at 17.38%, while the Financial Real Estate sector had the largest decrease at - 10.68% [35] - From the theme perspective, Non - Banking and Innovative Drug ETFs had the largest average daily trading volumes in the past 5 days, at 18.604 billion and 9.440 billion yuan respectively. Artificial Intelligence and Robot ETFs had the largest increases in the average daily trading volume change rate, at 41.53% and 34.15% respectively. Non - Banking and Low - Carbon Environmental Protection ETFs had the largest decreases at - 11.87% and - 7.82% respectively [39] 3.2.4 ETF Margin Trading - In the sample period, the net margin purchase of all equity ETFs was - 927 million yuan, and the net short - selling was - 207 million yuan. Bosera Science and Technology Innovation Board Artificial Intelligence ETF had the largest net margin purchase, and Fullgoal CSI A500 ETF had the largest net short - selling [43] 3.2.5 ETF New Issuance and Listing - In the sample period, 10 funds were established and 12 funds were listed [45]

数据显示，该基金近3个月收益率8.29%，近一年收益率18.81%，成立以来收益率为685.07%。其股票持 仓前十分别为：传音控股、美的集团、宁德时代、ST华通、立讯精密、山东黄金、小商品城、金诚 信、恒玄科技、巨人网络，前十持仓占比合计43.46%。 天眼查商业履历信息显示，国泰基金管理有限公司成立于1998年3月，位于上海市，是一家以从事资本 市场服务为主的企业。注册资本11000万人民币，法定代表人为周向勇。 来源：金融界 截至2025年6月30日，国泰基金旗下国泰金鹏蓝筹混合（020009）期末净资产10.69亿元，比上期减少 20.40%，该基金经理为胡松。 简历显示，胡松先生:中国国籍,硕士研究生。曾任职于海通证券股份有限公司、中银国际证券有限责任 公司、国泰基金管理有限公司、平安资产管理有限公司等。2017年1月再次加入国泰基金管理有限公司, 任养老金及专户投资(事业)部总监。2017年7月起任投资总监(养老金)。2020年9月25日起担任国泰金鹏 蓝筹价值混合型证券投资基金基金经理。 近期份额规模变动情况： 日期期间申购（亿份）期间赎回（亿份）期末总份额（亿份）期末净资产（亿元）净资产变动率 ...

Core Viewpoint - The report provides an overview of the performance and management of the Guotai CSI Intelligent Automotive Theme ETF for the second quarter of 2025, highlighting its investment strategy, financial indicators, and market positioning in the intelligent automotive sector. Fund Product Overview - The fund is named Guotai CSI Intelligent Automotive Theme ETF, with a total share of 49,400,796.00 at the end of the reporting period [2]. - The fund aims to closely track the CSI Intelligent Automotive Theme Index, with a risk control target of maintaining an average daily tracking deviation of no more than 0.2% and an annual tracking error of no more than 2% [2][3]. - The fund primarily invests in stocks, with a focus on sectors such as automotive, electronics, and information technology [7]. Financial Indicators and Fund Performance - The net value growth rate for the reporting period was -5.12%, while the benchmark return was -5.37% [7][8]. - Over the past three months, the fund experienced a net value decrease of 5.12%, while the benchmark showed a decrease of 5.37% [4]. - The fund's performance over the past year was a growth of 26.66%, compared to a benchmark growth of 26.98% [4]. Investment Portfolio Report - As of the end of the reporting period, the fund's total assets were valued at 45,616,701.18 RMB, with 99.09% allocated to stocks [9]. - The manufacturing sector accounted for 72.22% of the fund's total assets, while the information technology sector represented 27.01% [11]. - The fund did not hold any bonds, asset-backed securities, or actively traded stocks at the end of the reporting period [9][10]. Management Report - The fund management adhered to legal regulations and internal risk control measures, ensuring compliance and protecting investors' interests [6][7]. - The fund management team maintained independent operations and implemented a robust internal control system to mitigate risks [6][7]. - The fund did not engage in any significant reverse trading or unfair practices during the reporting period [7].

Group 1 - The report covers the performance of the Guotai Index Technology Innovation Theme ETF for the second quarter of 2025, highlighting a net value growth rate of -2.42% compared to a benchmark return of -1.79% [11] - The fund aims to closely track the underlying index, with a target tracking error of no more than 0.2% on a daily basis and 2% annually [2][4] - The fund's total shares at the end of the reporting period were 310,642,602, with a significant increase in shares due to total subscriptions of 1,967,000,000 and total redemptions of 1,722,000,000 during the period [6][12] Group 2 - The fund's investment strategy includes a focus on sectors such as manufacturing and information technology services, with 61.57% and 36.00% of the total assets allocated to these sectors respectively [12] - The fund's management emphasizes compliance with relevant laws and regulations, ensuring fair treatment of all investors and maintaining a strict separation of fund assets [10][15] - The report indicates that the fund has not held any bonds or actively invested stocks during the reporting period, focusing solely on equity investments [14]

基金托管人：广发证券股份有限公司 国泰中证半导体材料设备主题交易型开放式指数证券投资基金 2025 年第 2 季度报告 国泰中证半导体材料设备主题交易型开放式指数证券投资 基金 基金管理人：国泰基金管理有限公司 报告送出日期：二〇二五年七月十九日 国泰中证半导体材料设备主题交易型开放式指数证券投资基金 2025 年第 2 季度报告 §1 重要提示 基金管理人的董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 基金托管人广发证券股份有限公司根据本基金合同约定，于 2025 年 07 月 17 日复核了 本报告中的财务指标、净值表现和投资组合报告等内容，保证复核内容不存在虚假记载、误 导性陈述或者重大遗漏。 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定 盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅 读本基金的招募说明书。 本报告中财务资料未经审计。 本报告期自 2025 年 04 月 01 日起至 2025 年 06 月 30 日止。 | | §2 | 基金产品概况 ...

国泰中证基建交易型开放式指数证券投资基金 2025 年第 2 季度报告 国泰中证基建交易型开放式指数证券投资基金 基金管理人：国泰基金管理有限公司 基金托管人：中信建投证券股份有限公司 报告送出日期：二〇二五年七月十九日 国泰中证基建交易型开放式指数证券投资基金 2025 年第 2 季度报告 §1 重要提示 基金管理人的董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 标的指数成份股及其权重构建基金股票投资组合，并根据 投资策略 基金托管人中信建投证券股份有限公司根据本基金合同约定，于 2025 年 07 月 17 日复 核了本报告中的财务指标、净值表现和投资组合报告等内容，保证复核内容不存在虚假记载、 误导性陈述或者重大遗漏。 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定 盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅 读本基金的招募说明书。 本报告中财务资料未经审计。 本报告期自 2025 年 04 月 01 日起至 2025 年 06 月 30 日止。 | | ...

Market Overview - The Shanghai Composite Index rose 0.50% to close at 3534.48, the Shenzhen Component Index rose 0.37% to close at 10913.84, and the ChiNext Index rose 0.34% to close at 2277.15. The total trading volume of A-shares in the two markets was 1593.5 billion yuan. The top-performing sectors were non-ferrous metals (2.10%), basic chemicals (1.36%), and steel (1.34%), while the worst-performing sectors were media (-0.98%), electronics (-0.49%), and light manufacturing (-0.41%) [2][6] Stock ETF - The top-traded stock ETFs today were Huaxia CSI A500 ETF, which rose 0.50% with a discount rate of 0.73%; Huaxia Shanghai Science and Technology Innovation Board 50 ETF, which rose 0.28% with a discount rate of 0.22%; and Huatai-PineBridge CSI 300 ETF, which rose 0.73% with a discount rate of 0.74% [3][7] - The table shows detailed information of the top ten stock ETFs by trading volume, including code, fund name, price, change rate, tracking index, IOPV, discount rate, trading volume, and latest share reference [8] Bond ETF - The top-traded bond ETFs today were Harvest CSI AAA Science and Technology Innovation Corporate Bond ETF, which rose 0.07% with a discount rate of 0.09%; China Merchants CSI AAA Science and Technology Innovation Corporate Bond ETF, which rose 0.08% with a discount rate of 0.10%; and Haitong CSI Short-term Financing Bond ETF, which rose 0.01% with a discount rate of 0.01% [4][9] - The table presents the top five bond ETFs by trading volume, including code, fund name, price, change rate, discount rate, and trading volume [10] Gold ETF - Gold AU9999 rose 0.34% and Shanghai Gold rose 0.09% today. The top-traded gold ETFs were Huaan Gold ETF, which rose 0.08% with a discount rate of 0.20%; Boshi Gold ETF, which rose 0.04% with a discount rate of 0.19%; and E Fund Gold ETF, which rose 0.08% with a discount rate of 0.19% [12] - The table shows the top five gold ETFs by trading volume, including code, fund name, price, change rate, trading volume, IOPV, and discount rate [13] Commodity Futures ETF - Huaxia Feed Soybean Meal Futures ETF rose 0.76% with a discount rate of 1.36%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.22% with a discount rate of 0.31%; and Dacheng Non-ferrous Metals Futures ETF rose 0.71% with a discount rate of 0.68% [15] - The table provides an overview of commodity futures ETFs, including code, fund name, price, change rate, trading volume, IOPV, discount rate, tracking index, and tracking index change rate [16] Cross-border ETF - The Dow Jones Industrial Average rose 0.52%, the Nasdaq Composite rose 0.75%, the S&P 500 rose 0.54%, and the German DAX rose 1.51% in the previous trading session. Today, the Hang Seng Index rose 1.33% and the Hang Seng China Enterprises Index rose 1.51%. The top-traded cross-border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF, which rose 1.53% with a discount rate of 2.38%; GF CSI Hong Kong Innovative Drugs ETF, which rose 0.66% with a discount rate of 0.82%; and Huaxia Hang Seng Technology ETF, which rose 0.95% with a discount rate of 1.57% [17] - The table shows the top five cross-border ETFs by trading volume, including code, fund name, trading volume, change rate, and discount rate [18] Money Market ETF - The top-traded money market ETFs today were Yin Hua Day Profit ETF, Hua Bao Add Benefit ETF, and Money Market ETF Jianxin Add Benefit [19] - The table presents the top three money market ETFs by trading volume, including code, fund name, and trading volume [21]