Group 1 - Gindai Group has experienced a decline for five consecutive trading days, with a cumulative drop of -7.28% [1] - Gindai Group, founded in Shenzhen in 1988 and listed on the Shanghai Stock Exchange in 2001, has developed into a comprehensive listed company focusing on real estate development and related diversified businesses [1] - Two funds under Xingquan Global Fund have entered the top ten shareholders of Gindai Group, both being new additions in the first quarter of this year [1] Group 2 - The two funds are Xingquan Business Model Mixed (LOF) A and Xingquan New Vision Open Mixed, with year-to-date returns of 6.58% and 6.12% respectively [1] - Xingquan Business Model Mixed (LOF) A ranks 2604 out of 4519 in its category, while Xingquan New Vision Open Mixed ranks 939 out of 2296 [1]

Group 1 - The core viewpoint of the news highlights the recent decline in the stock price of Shangneng Electric, which has dropped by 5.40% over five consecutive trading days [1] - Shangneng Electric Co., Ltd. (stock code: 300827) is a national high-tech enterprise focused on the research, development, manufacturing, and sales of power electronic products, including photovoltaic inverters and energy storage systems [1] - The company aims to provide leading global "photovoltaic-storage integration" solutions, embodying the development concepts of "green, low-carbon, and efficient" [1] Group 2 - Huatai-PineBridge Fund's Huatai-PineBridge CSI Photovoltaic Industry ETF has entered the top ten shareholders of Shangneng Electric, marking a new investment in the first quarter of this year [1] - The year-to-date return for the ETF is -5.43%, ranking 3398 out of 3424 in its category [1][2] - The fund manager of the ETF, Li Qian, has extensive experience in managing various funds within the company [3][4] Group 3 - Huatai-PineBridge Fund Management Co., Ltd. was established in November 2004, with its chairman and general manager being Jia Bo [5] - The company has three shareholders: PINEBRIDGE INVESTMENT LLC (49%), Huatai Securities Co., Ltd. (49%), and Suzhou New District High-tech Industry Co., Ltd. (2%) [5]

Group 1 - The fund is managed by Jiao Yin Schroder Fund Management Co., Ltd. and is designed to track the Shenzhen 300 Value Index through a passive investment strategy [2][3] - As of the end of the reporting period, the total fund shares amounted to 29,829,693.00 [2][3] - The fund primarily invests in stocks, with 96.90% of its total assets allocated to equities [11][12] Group 2 - The fund's performance for the past three months showed a net value growth rate of -2.85%, while the one-year growth rate was 9.77% [4][10] - The fund's investment strategy involves closely tracking the underlying index, with adjustments made based on changes in the index components [2][3] - The fund's major financial indicators and net value performance are not audited, and past performance does not guarantee future results [3][10] Group 3 - The fund's asset allocation includes 68.60% in the manufacturing sector, 12.65% in the financial sector, and 4.11% in transportation and warehousing [11][12] - The fund's investment portfolio is diversified across various industries, with a significant focus on manufacturing [11][12] - The fund's management adheres to strict investment control and fair trading practices to ensure compliance with regulations [5][6] Group 4 - The fund experienced a net redemption of 1,500,000 shares during the reporting period, resulting in a decrease in total shares from 31,329,693.00 to 29,829,693.00 [14][17] - The fund's investment in the top ten securities did not exceed the stipulated limits set by the fund contract [13][17] - The fund's management emphasizes transparency and provides investors with access to relevant documents and reports [17]

建信信用增强债券型证券投资基金 基金管理人：建信基金管理有限责任公司 基金托管人：交通银行股份有限公司 报告送出日期：2025 年 7 月 18 日 建信信用增强债券 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。 基金托管人交通银行股份有限公司根据本基金合同规定，于 2025 年 7 月 16 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 4 月 1 日起至 6 月 30 日止。 | §2 | 基金产品概况 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 基金简称 | 建信信用增强债券 | | | | ...

建信易盛郑商所能源化工期货交易型开放 式指数证券投资基金 基金管理人：建信基金管理有限责任公司 基金托管人：中国农业银行股份有限公司 报告送出日期：2025 年 7 月 18 日 建信能源化工期货 ETF2025 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。 基金托管人中国农业银行股份有限公司根据本基金合同规定，于 2025 年 7 月 16 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 4 月 1 日起至 6 月 30 日止。 | | | §2 | | 基金产品概况 | | | | | --- | --- | --- | --- | --- | --- | --- | --- ...

融通中证人工智能主题指数证券投资基金（LOF） 基金管理人：融通基金管理有限公司 基金托管人：中国建设银行股份有限公司 报告送出日期：2025 年 7 月 18 日 融通中证人工智能主题指数证券投资基金（LOF）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中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。 基金合同生效日 2017 年 4 月 10 日 报告期末基金份额总额 519,360,702.96 份 投资目标 本基金采用指数化投资策略，紧密跟踪中证人工智能主 与业绩比较基准之间的日均跟踪偏离度绝对值控制在 投资策略 本基金采用完全复制法进行投资，按照成份股在标的指 数中的基准权重构建指数化投资组合，并根据标的指数 成份股及其权重的变动对投资组合进行相应调整。 基金托管人中国建设银行股份有限公司根据本基金合同规定，于 2025 年 7 月 16 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 ...

建信创业板交易型开放式指数证券投资基 §2 基金产品概况 | 基金简称 建信创业板 ETF | | | --- | --- | | 场内简称 | 创业板 ETF 建信 | | 基金主代码 | 159956 | | 基金运作方式 | 交易型开放式 | | 基金合同生效日 | 2018 年 2 月 6 日 | | 报告期末基金份额总额 | 90,978,674.00 份 | | 投资目标 | 紧密跟踪标的指数，追求跟踪偏离度和跟踪误差的最小化。 | | 投资策略 | 本基金为完全被动式指数基金，采用完全复制法，即按照成份股在标 | | 的指数中的基准权重来构建指数化投资组合，并根据标的指数成份股 | | | 及其权重的变化进行相应调整。但因特殊情况（比如流动性不足等） | | | 导致本基金无法有效复制和跟踪标的指数时，基金管理人可使用其他 | | | 合理方法进行适当的替代。 | | | 业绩比较基准 | 本基金的业绩比较基准为标的指数，即创业板指数收益率。 | | 风险收益特征 | 本基金属于股票型基金，其预期收益及预期风险水平高于混合型基 | | 金、债券型基金与货币市场基金，属于高风险/高收益的开放式基金 ...

Group 1 - South Korean retail investors have significantly increased their investment in Chinese assets, making the Chinese stock market the second-largest overseas investment destination for them, following the US market [1][2] - As of July 15, the cumulative trading volume of South Korean investors in Hong Kong and A-shares has exceeded $5.4 billion, with notable net purchases in companies like Xiaomi, BYD, and CATL [1][2] - The aggressive trading style of South Korean retail investors reflects a broader trend of foreign capital returning to the Chinese stock market, as evidenced by a nearly twofold increase in trading volume in February compared to the previous month [2] Group 2 - International investment institutions are showing renewed interest in the Chinese market, with Bridgewater Associates adjusting its view on Chinese stocks to "moderate overweight" based on policy support and relatively low valuation levels [3] - The sentiment among long-term investors in the A-share market is mixed, with frustrations over stagnant index levels juxtaposed against hopes for future growth [4] Group 3 - The bond ETF market in China is experiencing significant growth, with total assets reaching approximately 431.57 billion yuan as of July 17, 2023, and a net inflow of 196.04 billion yuan this year [19][21] - The recent launch of the first batch of 10 technology innovation bond ETFs has attracted substantial capital, with some ETFs seeing turnover rates exceeding 600% on their debut [11][13][18] - The rapid expansion of credit bond ETFs is expected to continue, driven by the inclusion of these products in general pledge-style repurchase agreements and heightened market interest [23]

Core Viewpoint - In an increasingly uncertain market environment, investors are confused about asset allocation directions for the second half of 2025, highlighting the importance of diversified risk and multi-asset strategies as a key approach for stable progress [1] Asset Allocation Framework - Penghua Fund's unique asset allocation framework combines strategic asset allocation (SAA) and tactical asset allocation (TAA) to form a comprehensive investment decision-making system [2] - The framework sets withdrawal control and volatility levels based on clients' risk-return preferences, categorizing them into low, medium, and high-risk profiles [2] - The methodology emphasizes "fractal art of asset allocation," allowing for the reverse calculation of asset weights across different time dimensions to ensure alignment with strategic goals while being adaptable to short-term fluctuations [2] Risk Management - A multi-layered risk control system is integrated throughout product design and investment management processes [3] - Strategic asset allocation is based on the team's cross-cycle alpha capabilities and client fund attributes, while tactical asset allocation employs dynamic adjustment mechanisms to respond to market changes [3] - A systematic fund selection mechanism is established, utilizing a "three-tier screening" process to narrow down from approximately 200 funds to about 20 core holdings, ensuring diversity and quality of underlying assets [3] Market Outlook for H2 2025 - Penghua Fund's Chief Asset Allocation Officer, Zheng Ke, indicates that the asset allocation strategy will focus on "new productive forces + strategic resources," with an emphasis on overweighting the A-share market to seize bull market opportunities [4] - The strategy will also involve underweighting domestic bonds and U.S. stocks while strategically overweighting gold to hedge against potential risks in the Jamaican monetary system [4] - The focus within the A-share structure will be on growth styles, with national strategic investments expected to provide foundational support, and new productive forces anticipated to be a key driving force for market trends [4]

Group 1 - The high dividend sector has seen a strong performance followed by a consolidation phase, attracting accelerated inflow of incremental funds, with daily average trading volume reaching 735 million CNY from July 15 to July 16, and a total of 1.704 billion CNY in net inflow over eight consecutive trading days from July 7 to July 16 [1] - The Ministry of Finance issued a notice on July 11 to encourage long-term stable investments by insurance funds, which is expected to create a favorable environment for long-term investments, aligning with the demand for enhancing long-term returns through high dividend, low volatility assets [1] - The dividend low volatility ETF (512890) has reached a historical high in fund size for 12 consecutive trading days, surpassing 20 billion CNY for the first time on July 9, and further increasing to 21.399 billion CNY by July 16, marking a growth of 7.65 billion CNY since the beginning of the year [1] Group 2 - The dividend low volatility ETF (512890) is the first ETF tracking the dividend low volatility index in the market, achieving positive returns every complete year since its inception, and ranking first among similar funds in terms of five-year returns as of June 30 [2] - The linked funds of the ETF have a total of 829,800 holders, making it the only dividend theme index fund with over 800,000 holders in the market [2] - The fund manager, Huatai-PB Fund, has over 18 years of experience in managing dividend index investments, with a total management scale of 42.654 billion CNY across its dividend-themed ETFs as of July 16 [3]