华宝基金关于华宝创业板人工智能交易型开放式 指数证券投资基金发起式联接基金新增华泰证券 股份有限公司为代销机构的公告 根据华宝基金管理有限公司（以下简称"本公司"）与华泰证券股份有限公司（以下简称：华泰证券）签 署的《证券投资基金销售代理协议》，本公司自2025年07月23日起增加华泰证券为华宝创业板人工智能 交易型开放式指数证券投资基金发起式联接基金（华宝创业板人工智能ETF发起式联接 A:023407；华 宝创业板人工智能ETF发起式联接 C:023408）的代销机构。投资者可通过上述代销机构办理华宝创业板 人工智能交易型开放式指数证券投资基金发起式联接基金的开户、认购、申赎及其他业务。 投资者可通过以下途径咨询具体业务： （1） 华泰证券股份有限公司 客户服务电话: 95597 公司网址：www.htsc.com.cn （2）华宝基金管理有限公司 客户服务电话：400-820-5050、400-700-5588 公司网址：www.fsfund.com 风险提示：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，也不保证最低收益。投资者投资本公司旗下基金时应认真阅读基金的 ...

Core Insights - The banking public funds are facing unprecedented transformation pressures despite holding approximately 20% of the total fund market share, indicating a significant reliance on fixed-income products [1][2] - The average scale of fixed-income products among banking public funds is 90%, significantly higher than the industry average of 73%, with 9 out of 15 banking public funds having over 90% in fixed-income allocation [1][2] - The most extreme case is Shangyin Fund, with a fixed-income allocation of 98.75%, while major institutions like Bank of China Fund and Jianxin Fund have less than 5% in equity allocation [1][2] Industry Challenges - The long-term reliance on parent bank channels has led to a "lying win" model, where banking clients prefer conservative fixed-income products, creating a path dependency [2] - Regulatory bodies have emphasized the need to significantly increase the scale and proportion of equity investments in public funds, indicating that the current growth model is unsustainable [2] Emerging Strategies - Some institutions are beginning to adapt, with Shangyin Fund launching equity products like Shangyin Advanced Manufacturing and Shangyin Resource Selection since 2025, indicating a shift in strategy [3] - Puyin Ansheng has achieved a 14% growth in non-cash scale in 2024 by leveraging a digital investment research system, showcasing a successful adaptation to market demands [3] - For banking public funds to truly break through, a "surgical-level" reform is necessary, establishing a dual-driven model of "fixed income for scale, equity for profit" and introducing market-oriented professional managers [3]