Core Viewpoint - The performance of actively managed equity funds has significantly improved, with an average return of over 48% in the past year, and more than 270 funds have doubled their net value [1][2]. Group 1: Fund Performance - As of August 28, 2023, 4378 actively managed equity funds reported an average return of 48.13%, with 4354 funds achieving positive returns [2]. - A total of 586 funds generated returns exceeding 80%, and 274 funds saw their net value double, with some funds achieving returns over 200% [2]. - Notable high-performing funds include 中信建投北交所精选两年定开混合基金 with a return of 264.31%, 华夏北交所创新中小企业精选两年定开混合基金 at 241.75%, and 中欧数字经济混合基金 at 237.52% [2]. Group 2: Investment Strategies - Fund managers are focusing on structural opportunities, particularly in sectors like artificial intelligence, innovative pharmaceuticals, and new consumption [4]. - The AI industry is expected to continue its growth trajectory, with significant investment opportunities in AI applications, autonomous driving, and humanoid robots [4][5]. - Fund managers are adjusting their portfolios to include stable assets like banks and insurance while increasing exposure to technology assets such as robotics and AI computing [5]. Group 3: Market Outlook - The overall sentiment towards the equity market has become more positive, with expectations that the most severe systemic shocks have passed [4]. - There is an emphasis on monitoring macroeconomic events that could introduce volatility, while still identifying opportunities in sectors like AI, innovative pharmaceuticals, and non-ferrous metals [4][5].

Fund Overview - The fund is named "浦银安盛稳健增利债券型证券投资基金（LOF）" and is managed by浦银安盛基金管理有限公司 with Shanghai Bank as the custodian [1][2] - The fund aims to achieve investment returns higher than its performance benchmark while strictly controlling investment risks [1] - The fund's performance benchmark was changed on May 9, 2025, to a combination of 85% 中债综合(全价)指数收益率, 5% 中证可转换债券指数收益率, and 10% 银行活期存款利率 (after tax) [1][5] Financial Performance - As of June 30, 2025, the fund's total shares were 1,688,740,993.19 [1] - The fund achieved realized income of 8,659,535.30 RMB for Class A and 4,406,069.02 RMB for Class C during the reporting period [3] - The net asset value growth rate for Class A was 1.15%, while Class C recorded a growth rate of 0.97% during the same period [23] Investment Strategy - The fund employs a top-down approach for asset allocation and duration management, while a bottom-up approach is used for individual security selection [1] - The fund primarily invests in high-grade credit bonds and interest rate bonds, with a low allocation to convertible bonds [22] - The fund's strategy includes maintaining liquidity and adjusting positions based on market conditions, with a focus on high dividend and growth sectors [26] Market Outlook - The second half of 2025 is expected to see continued economic recovery, with policies aimed at reducing competition and improving supply chains [25] - The fund anticipates a stable bond market with potential upward pressure on interest rates, while maintaining a cautious approach to investment [25][26] - The fund will continue to focus on low-priced convertible bonds and sectors with high growth potential [26]

Core Viewpoint - The Southern SF Logistics Closed-End Infrastructure Securities Investment Fund aims to provide stable and sustainable returns to investors through investments in infrastructure asset-backed securities, focusing on logistics and warehousing projects across various locations in China [2][4]. Fund Overview - The fund, named Southern SF Logistics REIT, was established on March 27, 2025, with a total of 1 billion shares issued [2]. - The fund primarily invests in infrastructure asset-backed securities and aims to hold all equity and related debt of infrastructure project companies [2][4]. - The fund's management strategy emphasizes active operational management to ensure stable project operations and returns [2]. Financial Performance - For the reporting period from March 27, 2025, to June 30, 2025, the fund reported total income of approximately 75 million yuan and a net profit of approximately 21.64 million yuan [3][4]. - The fund's total assets at the end of the reporting period were approximately 3.72 billion yuan, with net assets of approximately 3.31 billion yuan [3][4]. - The cash distribution rate for the reporting period was 0.93%, with an annualized cash distribution rate of 3.55% [3][4]. Asset Projects - The fund holds three infrastructure projects located in Shenzhen, Wuhan, and Hefei, with a total leasable area of approximately 465,231.18 square meters and an occupancy rate of 96.30% [4][5]. - The average effective rental price at the end of the reporting period was 47.93 yuan per square meter per month [4][5]. - The projects have been operational for varying lengths, with the Shenzhen project operating for 10 years, the Wuhan project for 4 years, and the Hefei project for 6 years [4]. Market Conditions - The logistics and warehousing industry is a key focus area supported by national policies, with a significant emphasis on modernizing infrastructure to meet supply chain demands [9][10]. - The overall market for high-standard warehouses in Shenzhen is characterized by limited new supply, leading to stable rental prices and occupancy rates [13]. - In Wuhan, the market faces competitive pressures due to increased supply, while Hefei is experiencing downward pressure on rental prices due to regional competition [14][15]. Competitive Landscape - The logistics real estate sector in China is undergoing a transformation from scale expansion to quality improvement, with operators focusing on efficiency and technological upgrades [11][12]. - The fund's projects are strategically located in key logistics hubs, enhancing their competitive positioning in the market [9][10].

Group 1 - The fund is named "浦银安盛中证 A500 交易型开放式指数证券投资基金" and is managed by浦银安盛基金管理有限公司 with a total fund share of 402,922,317.00 as of the report date [2][5][19] - The fund aims to closely track the performance of the 中证 A500 index, employing a full replication strategy to minimize tracking deviation and error [2][16] - The fund's net asset value at the end of the reporting period was 426,345,267.39 RMB, with a net asset value per share of 1.0581 RMB, reflecting a growth rate of 5.81% [3][19] Group 2 - The fund reported a realized income of 33,417,693.38 RMB and a profit of 46,056,378.07 RMB during the reporting period [3][22] - The fund's performance benchmark, the 中证 A500 index, achieved a return of 0.47% during the same period, indicating the fund outperformed its benchmark [19][22] - The fund's investment strategy focuses on acquiring long-term returns from core leading assets in the A-share market, with a goal to control tracking error within a low range [16][19] Group 3 - The report highlights that the A-share market exhibited a "dumbbell" trend, with significant performance from both dividend assets represented by banks and micro-cap stocks [15] - The report indicates that the A-share market is expected to experience upward fluctuations driven by capital inflows, particularly as residents reallocate their savings into equity assets [19] - The 中证 A500 index is characterized by its representative nature, considering industry balance and excluding companies with low ESG scores to mitigate potential risks [16]

浦银安盛中证光伏产业交易型开放式指数 证券投资基金 基金管理人：浦银安盛基金管理有限公司 基金托管人：国泰海通证券股份有限公司 送出日期：2025 年 8 月 30 日 浦银安盛中证光伏产业 ETF2025 年中期报告 基金管理人的董事会、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的法律责任。本中期报告已经三分之二以 上独立董事签字同意，并由董事长签发。 基金托管人国泰海通证券股份有限公司根据本基金合同规定，于 2025 年 8 月 29 日复核了本 报告中的财务指标、净值表现、利润分配情况、财务会计报告、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 基金的招募说明书及其更新。 本报告中财务资料未经审计。 本报告期自 2025 年 1 月 1 日起至 2025 年 6 月 30 日止。 第 2 页 共 50 页 浦银安盛中证光伏产业 ETF2025 ...

Core Viewpoint - The report outlines the performance and strategies of the Hai Futong CSI 2000 Enhanced Strategy ETF for the first half of 2025, highlighting its investment approach, financial metrics, and market conditions that influenced its performance [1][11][12]. Fund Overview - Fund Name: Hai Futong CSI 2000 Enhanced Strategy ETF - Fund Manager: Hai Futong Fund Management Co., Ltd. - Fund Custodian: China Merchants Bank Co., Ltd. - Total Fund Shares at Period End: 9,326,751.00 shares - Fund Contract Effective Date: March 27, 2024 - Investment Objective: To achieve long-term capital appreciation by tracking the CSI 2000 Index with a tracking error not exceeding 0.35% daily and 6.50% annually [1][2]. Investment Strategy - The fund employs a quantitative investment analysis and fundamental research approach, focusing on stock investments that track the CSI 2000 Index while utilizing quantitative models to enhance returns [1][2]. - The fund's investment strategies include stock, bond, convertible bonds, asset-backed securities, stock index futures, and options [1][2]. Financial Performance - Realized Income for the Period: CNY 1,196,154.80 - Profit for the Period: CNY 2,070,828.34 - Average Net Value Profit Rate: 19.70% - Fund Share Net Value Growth Rate: 23.12% - Net Asset Value at Period End: CNY 13,652,227.11 - Cumulative Net Value Growth Rate: 46.38% [2][3]. Market Conditions - The domestic economy showed moderate recovery in the first half of 2025, with GDP growth rates of 5.4% and 5.2% in Q1 and Q2, respectively [11]. - The CSI 2000 Index increased by 15.24% during the same period, outperforming other major indices [12]. - The fund's investment strategy adapted to market conditions, focusing on small-cap and growth styles, which were favorable for its quantitative strategies [12][13]. Management Report - The fund management adhered to legal regulations and maintained fair trading practices, ensuring no conflicts of interest or unfair trading activities occurred during the reporting period [9][10]. - The management team actively adjusted investment models to capture excess returns while maintaining risk control [12][13].

Group 1 - The fund is managed by Fullgoal Fund Management Co., Ltd. and is a type of open-ended index fund that aims to closely track the performance of the CSI A50 Index [1][3] - As of June 30, 2025, the fund's total net asset value is approximately RMB 961.15 million, with a total of 837,905,682 shares outstanding [2][10] - The fund's investment strategy involves a full replication method, aiming to minimize tracking deviation and error, with a target daily tracking deviation of no more than 0.2% and an annual tracking error of no more than 2% [1][3] Group 2 - The fund achieved a net profit of approximately RMB 4.82 million during the reporting period, with a net asset value per share of RMB 1.1471 [2][10] - The fund's cumulative net value growth rate is 14.71%, and the net value growth rate for the reporting period is 0.85% [2][10] - The fund's performance benchmark is the CSI A50 Index return, and the fund's performance has been compared against this benchmark [2][12] Group 3 - The fund's management strictly adheres to relevant laws and regulations, ensuring fair trading practices and compliance with investment strategies [6][8] - The fund's investment portfolio primarily consists of stocks from the CSI A50 Index, with a minimum investment of 90% of the fund's net assets in index constituent stocks [1][12] - The fund has not distributed any profits during the reporting period and will follow legal and contractual obligations for future profit distributions [8][12]

金鹰持久增利债券型证券投资基金(LOF)2025 年中期报告 金鹰持久增利债券型证券投资基金(LOF) 基金管理人：金鹰基金管理有限公司 基金托管人：中国邮政储蓄银行股份有限公司 送出日期：二〇二五年八月三十日 金鹰持久增利债券型证券投资基金(LOF)2025 年中期报告 基金管理人的董事会、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的法律责任。本中期报告已经三分之二以上独 立董事签字同意，并由董事长签发。 基金托管人中国邮政储蓄银行股份有限公司根据本基金合同规定，于 2025 年 8 月 29 日复核了 本报告中的财务指标、净值表现、利润分配情况、财务会计报告、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 金的招募说明书及其更新。 本报告中财务资料未经审计。 本报告期自 2025 年 1 月 1 日起至 6 月 30 日止。 金鹰持久增利债券型证 ...

平安鼎弘混合型证券投资基金(LOF) 基金管理人：平安基金管理有限公司 基金托管人：中国工商银行股份有限公司 送出日期：2025 年 08 月 30 日 平安鼎弘混合(LOF)2025 年中期报告 基金管理人的董事会、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的法律责任。本中期报告已经三分之二以 上独立董事签字同意，并由董事长签发。 基金托管人中国工商银行股份有限公司根据本基金合同规定，于 2025 年 08 月 29 日复核了本 报告中的财务指标、净值表现、利润分配情况、财务会计报告、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 基金的招募说明书及其更新。 本报告中财务资料未经审计。 本报告除特别注明外，金额单位均为人民币元。 本报告期自 2025 年 01 月 01 日起至 06 月 30 日止。 第 2 页 共 55 页 平安鼎弘混合(LOF) ...

Fund Overview - The fund is named "Fullgoal ChiNext ETF" and operates as a contract-based, open-ended index fund [2] - The fund aims to closely track the underlying index with minimal tracking deviation and error [2] - The fund's total shares at the end of the reporting period were 1,654,010,144 shares [2] Financial Performance - The fund achieved a net profit of CNY 10,224,905.01 during the reporting period [3] - The weighted average net value profit rate for the period was 0.40% [3] - The fund's net asset value at the end of the reporting period was CNY 2,473,598,261.87, with a net asset value per share of CNY 1.4955 [3][11] Investment Strategy - The fund primarily employs a replication strategy to construct its stock investment portfolio based on the underlying index components and their weights [2] - The fund aims to maintain an absolute daily tracking deviation of no more than 0.20% and an annual tracking error of no more than 2% [2] Market Context - The fund's performance is benchmarked against the ChiNext Index return [2] - The overall market saw the Shanghai Composite Index rise by 2.76% and the ChiNext Index increase by 0.53% during the first half of 2025 [11] Management and Compliance - The fund is managed by Fullgoal Fund Management Co., Ltd., which has been established since April 13, 1999 [4] - The fund management strictly adheres to relevant laws and regulations, ensuring fair trading practices and compliance with investment guidelines [8][9] Asset Allocation - As of June 30, 2025, the fund's total assets amounted to CNY 2,475,436,834.73, with significant investments in stocks [14][15] - The fund's cash and cash equivalents were CNY 7,642,282.41, while trading financial assets were valued at CNY 2,463,596,261.22 [14][15]