Core Viewpoint - The AI Fund Dongfanghong Dividend Quantitative Stock Selection Mixed Fund A (021650) reported a profit of 1.7676 million yuan for the first half of 2025, with a net value growth rate of 1.29% and a fund size of 154 million yuan as of the end of June 2025 [3][5]. Fund Performance - As of September 3, 2025, the fund's unit net value was 1.089 yuan, with a near-term performance of 11.04% over the last three months, ranking 502 out of 607 comparable funds [5]. - The fund's six-month and one-year performance were 13.21% and 8.95%, ranking 460 out of 607 and 598 out of 603 respectively [5]. Valuation Metrics - As of June 30, 2025, the fund's weighted price-to-earnings (P/E) ratio was approximately 11.15 times, significantly lower than the industry average of 33.74 times [11]. - The weighted price-to-book (P/B) ratio was about 1.1 times, compared to the industry average of 2.47 times, and the weighted price-to-sales (P/S) ratio was approximately 1.03 times, against an average of 2.07 times [11]. Growth Metrics - For the first half of 2025, the weighted revenue growth rate of the fund's stock holdings was 0.05%, while the weighted net profit growth rate was 0.33% [19]. - The weighted annualized return on equity was 0.1% [19]. Fund Management Insights - The fund manager indicated that external factors, such as potential fluctuations in Trump's tariff policies and delayed interest rate cuts by the Federal Reserve, may impact market conditions [3]. - The manager expressed a cautious outlook for the second half of 2025, suggesting that the dividend low-volatility style remains a favorable choice for achieving relative and absolute returns [3]. Fund Composition - As of June 30, 2025, the fund had a total of 1,311 holders, with individual investors holding 92.99% of the shares and institutional investors holding 7.01% [38]. - The top ten holdings included companies such as Tiandi Technology, Dongwu Securities, and Yunnan Baiyao [43].