Core Viewpoint - The AI Fund Anxin New Energy Theme Stock Fund A (015707) reported a profit of 261,600 yuan in Q1 2025, with a weighted average profit per fund share of 0.0204 yuan. The fund's net asset value (NAV) growth rate for the period was 2.78%, and the fund size reached 9.1367 million yuan by the end of Q1 2025 [2][13]. Fund Performance - The fund is classified as a standard stock fund, focusing on advanced manufacturing stocks. As of April 18, the unit NAV was 0.646 yuan. The fund manager, Chen Si, currently manages three funds. The Anxin New Growth Mixed A fund had the highest one-year NAV growth rate at 2.7%, while the Anxin New Energy Theme Stock Fund A had the lowest at -8.16% [2]. - Over the past three months, the fund's NAV growth rate was -8.30%, ranking 36 out of 42 comparable funds. Over the past six months, the growth rate was -8.92%, ranking 33 out of 42. The one-year growth rate was -8.16%, ranking 37 out of 42 [2]. Valuation Insights - The fund management indicated that the price-to-book (PB) ratio of the CSI New Energy Index remains at a historically low percentile. With a stabilization and recovery in fundamentals, valuations are expected to improve. The management believes that some excellent companies in the new energy sector currently offer good value for money [2]. Risk Metrics - As of March 28, the fund's Sharpe ratio since inception was -0.0785 [7]. The maximum drawdown since inception was 43.26%, with the largest quarterly drawdown occurring in Q4 2023 at 18.23% [9]. Investment Strategy - The fund has maintained a high concentration in its holdings, with the top ten stocks consistently accounting for over 60% of the portfolio over the past two years. As of Q1 2025, the top ten holdings included companies such as Ningde Times, Xinyi Solar, and Wanhu Chemical [15].