数据显示，该基金近3个月收益率13.98%，近一年收益率52.72%，成立以来收益率为53.53%。其股票持 仓前十分别为：腾讯控股、美团-W、小米集团-W、中芯国际、德康农牧、赤子城科技、理想汽车-W、 阿里巴巴-W、快手-W、网易-S，前十持仓占比合计52.65%。 截至2025年6月30日，中欧基金旗下中欧港股数字经济混合发起(QDII)C（015885）期末净资产1.30亿 元，比上期减少12.45%，该基金经理为FANG SHENSHEN。 简历显示，FANG SHENSHEN女士:澳大利亚国籍,本科、学士。历任高盛私人财富管理部税务分析 师,Cooper Investors助理基金会计师、交易员、新兴市场组研究员,曾任中欧基金管理有限公司研究员、 高级研究员,现任中欧基金管理有限公司的基金经理。2024年05月31日起担任中欧港股数字经济混合型 发起式证券投资基金(QDII)基金经理。2024年7月1日起任中欧中证港股通央企红利指数发起式证券投资 基金(QDII)的基金经理。2025年01月14日起任中欧恒生科技指数发起式证券投资基金(QDII)基金经理。 近期份额规模变动情况： 日期期间申购（亿 ...

2025 年 07 月 19 日 中欧基金殷姿：高效利用中欧研究 资源，发挥团队优势挖掘阿尔法 ——基金经理研究系列报告之七十五 相关研究 证券分析师 奚佳诚 A0230523070004 xijc@swsresearch.com 蒋辛 A0230521080002 jiangxin@swsresearch.com 邓虎 A0230520070003 denghu@swsresearch.com 联系人 奚佳诚 (8621)23297818× xijc@swsresearch.com 本研究报告仅通过邮件提供给 中庚基金 使用。1 权 益 量 化 研 究 证 券 研 究 报 告 请务必仔细阅读正文之后的各项信息披露与声明 股 票 基 金 - ⚫ 中欧基金殷姿：硕士，历任上海申银万国证券研究所房地产首席分析师，富国基金高级研 究员。2015 年 6 月加入中欧基金，历任研究、权益研究部行政事务负责人及券商管理、权 益研究副总监、权益研究总监，从业年限超 18 年。2024 年 9 月开始管理公募产品，目前 在管 1 只产品——中欧中证 800 研究智选。加入中欧基金后，殷姿的主要工作之一是带教 研究员：中欧基金 ...

Group 1 - The core viewpoint of the article highlights the performance and management of Changsheng Fund's Changsheng State-Owned Enterprise Reform Mixed Fund, which has seen a net asset increase of 5.72% to 386 million yuan as of June 30, 2025 [1] - The fund manager, Dai Yi, has a background in research and has held various positions within Changsheng Fund since 2010, currently managing multiple funds including the Changsheng Urbanization Theme Mixed Fund [1] - The fund's recent share scale changes indicate a total share of 0.02 billion with a net asset of 20 million yuan, reflecting a significant decrease in net asset value over recent periods [2] Group 2 - The fund's performance metrics show a 3-month return of 17.79%, a 1-year return of 34.88%, and a since inception return of -56.3%, indicating volatility and challenges in long-term performance [2] - The top ten stock holdings of the fund account for a combined 47.49% of the portfolio, with notable companies including Shengyi Technology and Huafeng Technology [2] - Changsheng Fund Management Co., Ltd. was established in March 1999 and is based in Shenzhen, with a registered capital of 206 million yuan [2]

数据显示，该基金近3个月收益率8.29%，近一年收益率18.81%，成立以来收益率为685.07%。其股票持 仓前十分别为：传音控股、美的集团、宁德时代、ST华通、立讯精密、山东黄金、小商品城、金诚 信、恒玄科技、巨人网络，前十持仓占比合计43.46%。 天眼查商业履历信息显示，国泰基金管理有限公司成立于1998年3月，位于上海市，是一家以从事资本 市场服务为主的企业。注册资本11000万人民币，法定代表人为周向勇。 来源：金融界 截至2025年6月30日，国泰基金旗下国泰金鹏蓝筹混合（020009）期末净资产10.69亿元，比上期减少 20.40%，该基金经理为胡松。 简历显示，胡松先生:中国国籍,硕士研究生。曾任职于海通证券股份有限公司、中银国际证券有限责任 公司、国泰基金管理有限公司、平安资产管理有限公司等。2017年1月再次加入国泰基金管理有限公司, 任养老金及专户投资(事业)部总监。2017年7月起任投资总监(养老金)。2020年9月25日起担任国泰金鹏 蓝筹价值混合型证券投资基金基金经理。 近期份额规模变动情况： 日期期间申购（亿份）期间赎回（亿份）期末总份额（亿份）期末净资产（亿元）净资产变动率 ...

日期期间申购（亿份）期间赎回（亿份）期末总份额（亿份）期末净资产（亿元）净资产变动率2025- 06-300.000.010.020.02-24.80%2025-03-310.000.000.020.02-2.54%2024-12-310.000.020.020.02-47.96%2024- 09-300.000.020.040.04-27.77% 数据显示，该基金近3个月收益率0.28%，近一年收益率1.3%，成立以来收益率为72.37%。 天眼查商业履历信息显示，银河基金管理有限公司成立于2002年6月，位于上海市，是一家以从事资本 市场服务为主的企业。注册资本20000万人民币，法定代表人为胡泊。 截至2025年6月30日，银河基金旗下银河银富货币A（150005）期末净资产244.92亿元，比上期减少 1.05%，该基金经理为张沛。 简历显示，张沛先生:硕士研究生学历,曾任职于花旗银行、东亚银行、大华银行、招商银行、上海赞庚 投资公司等金融机构。2017年11月加入银河基金管理有限公司。2018年2月至2022年2月担任银河强化收 益债券型证券投资基金的基金经理。2018年2月起担任银河钱包货币市场基 ...

来源：金融界 近期份额规模变动情况： 日期期间申购（亿份）期间赎回（亿份）期末总份额（亿份）期末净资产（亿元）净资产变动率2025- 06-300.000.010.020.02-24.80%2025-03-310.000.000.020.02-2.54%2024-12-310.000.020.020.02-47.96%2024- 09-300.000.020.040.04-27.77% 数据显示，该基金近3个月收益率0.27%，近一年收益率1.28%，成立以来收益率为31.07%。 截至2025年6月30日，国寿安保基金旗下国寿安保场内实时申赎货币B（519879）期末净资产0.80亿元， 比上期增加79.50%，该基金经理为张英。 简历显示，张英女士:中国国籍,硕士,CFA,曾任中国人寿资产管理有限公司国际部研究员。2013年加入国 寿安保基金管理有限公司,历任研究员、基金经理助理,现任国寿安保基金管理有限公司基金经理。2017 年1月起任国寿安保聚宝盆货币市场基金基金经理,2017年10月起任国寿安保增金宝货币市场基金基金经 理。2020年8月20日起任国寿安保场内实时申赎货币市场基金基金经理。2023年 ...

来源：金融界 日期期间申购（亿份）期间赎回（亿份）期末总份额（亿份）期末净资产（亿元）净资产变动率2025- 06-300.000.010.020.02-24.80%2025-03-310.000.000.020.02-2.54%2024-12-310.000.020.020.02-47.96%2024- 09-300.000.020.040.04-27.77% 数据显示，该基金近3个月收益率0.38%，近一年收益率1.67%，成立以来收益率为24.96%。 天眼查商业履历信息显示，中欧基金管理有限公司成立于2006年7月，位于上海市，是一家以从事资本 市场服务为主的企业。注册资本22000万人民币，法定代表人为窦玉明。 截至2025年6月30日，中欧基金旗下中欧骏泰货币B（004039）期末净资产197.60亿元，比上期增加 31.52%，该基金经理为张东波。 简历显示，张东波先生:中国国籍,研究生学历、硕士学位。历任东海证券股份有限公司固定收益部债券 交易员(2015.01-2017.02),中山证券有限责任公司资管事业部投资主办助理(2017.02-2017.09)。2017年9月 加入中欧基金管理有限 ...

Group 1 - The BRICS Media Think Tank Forum was held in Rio de Janeiro, Brazil, focusing on financial development under BRICS cooperation [1] - A new ETF named "SILK11" was launched on the Brazilian Securities and Futures Exchange, investing in the China A50 ETF managed by E Fund Management [3] - The collaboration between E Fund and Itaú Asset Management aims to enhance financial cooperation among BRICS nations, providing diversified investment options for Chinese and Brazilian investors [3] Group 2 - E Fund emphasizes the importance of deepening financial cooperation among BRICS countries to optimize resources and achieve complementary advantages [3] - The discussion on financial market connectivity, fintech, and green finance is seen as crucial for enhancing trust and cooperation among BRICS financial institutions [3] - The goal is to advance BRICS financial cooperation to a higher quality, contributing to the new development and future of the Global South [3]

Core Viewpoint - The report provides an overview of the performance and management of the Dongcai Food and Beverage Index Enhanced Fund, highlighting its investment strategy, financial indicators, and net asset value performance during the reporting period from April 1, 2025, to June 30, 2025 [1][2]. Fund Product Overview - Fund Name: Dongcai Food and Beverage Index Enhanced Fund - Fund Code: 012340 - Fund Type: Contractual open-end fund - Effective Date of Fund Contract: November 2, 2021 - Total Fund Shares at Reporting Period End: 76,102,528.41 shares - Investment Objective: To effectively track the benchmark index while striving for higher investment returns through enhanced active investment strategies [2]. - Investment Strategy: Utilizes index-based investment methods and quantitative strategies to achieve excess returns while controlling tracking errors [2]. - Performance Benchmark: 95% of the return of the China Securities Food and Beverage Index plus 5% of the after-tax return of bank demand deposits [2]. Financial Indicators and Fund Net Value Performance - The fund's net value performance for different periods is as follows: - Last three months: -3.20% for Class A, -3.25% for Class C, -3.26% for Class E, with benchmark return of -4.61% [4][9]. - Last six months: -3.73% for Class A, -3.86% for Class C, -3.86% for Class E, with benchmark return of -6.31% [4][9]. - Last year: -1.29% for Class A, -1.58% for Class C, -1.58% for Class E, with benchmark return of 2.18% [4][9]. - Since fund contract inception: -39.57% for Class A, -40.22% for Class C, -39.57% for Class E, with benchmark return of -37.35% [4][9]. Investment Portfolio Report - As of June 30, 2025, the fund's total assets included: - Stocks: 43,104,672.76 yuan, accounting for 93.74% of total assets [11]. - The fund did not hold any bonds or asset-backed securities during the reporting period [12]. - The manufacturing sector represented the largest portion of the investment portfolio, with a fair value of 41,897,367.76 yuan, accounting for 91.68% of the fund's net asset value [11].

Group 1: Fund Overview - The fund holds infrastructure assets including the Guanggu Software Park and the Internet+ project, both located in Wuhan's Guanggu High-tech Zone, which are part of the core properties in the Guanggu Optoelectronic Information Industry Park [1][3]. Group 2: Operating Performance - As of June 30, 2025, the overall rental collection rate for the infrastructure assets was 91.84%, a decrease of 4.45% year-on-year, with the Guanggu Software Park at 96.89% (up 1.72%) and the Internet+ project at 66.28% (down 34.91%) [3]. - The overall occupancy rate for the infrastructure assets was 72.66%, down 17.28% year-on-year, and the average rental price was 59.90 yuan per square meter per month, down 3.73% year-on-year [2][3]. Group 3: Revenue Analysis - The total revenue for the second quarter of 2025 was 20.83 million yuan, a year-on-year decrease of 24.04% compared to the second quarter of 2024 [2]. - By mid-2025, the operating revenue was only 46.15% of the forecasted revenue for the entire year as per the 2024 evaluation report, primarily due to tenant turnover and slower absorption of vacant space in the Guanggu Software Park [7]. Group 4: Market Conditions - The regional market for industrial parks is under pressure, with an average rental price of 47 yuan per square meter per month and an average vacancy rate of about 25% in Wuhan's industrial parks as of the second quarter of 2025 [4]. - Increased competition from both existing and newly developed office buildings in the area has led to significant fluctuations in occupancy rates [4]. Group 5: Strategic Responses - The fund management has implemented flexible pricing strategies to attract more clients, adjusting rental prices for renewals and new leases to maintain a balance between rental income and occupancy rates [5]. - Measures taken include proactive communication with potential clients, renovation of rental spaces to meet diverse business needs, and monitoring of rental payment statuses to ensure asset income security [8][9].