Economic Overview - Inner Mongolia's GDP for the first half of the year reached 1,207.76 billion yuan, with a year-on-year growth of 5.4% at constant prices [1] - The primary industry added value was 40.6 billion yuan, growing by 5.5% year-on-year; the secondary industry added value was 553.72 billion yuan, with a growth of 6.3%; the tertiary industry added value was 613.45 billion yuan, increasing by 4.6% [1] Agricultural Sector - Agricultural and pastoral production showed stable growth, with the added value of agriculture, forestry, animal husbandry, and fishery increasing by 5.5% year-on-year [1] - The production of pork, beef, mutton, and poultry reached 1.088 million tons, a year-on-year increase of 6.5%; milk production increased by 3.6% [1] Industrial Sector - The industrial sector maintained steady growth, with the added value of large-scale industries increasing by 7.1% year-on-year [2] - The new energy and related industries saw a significant increase in added value, growing by 18.8% year-on-year [2] Service Sector - The service sector's added value grew by 4.6% year-on-year, with large-scale service industry revenue increasing by 9.8% from January to May [3] - Measures were implemented to enhance service supply and innovation, contributing to the sector's sustained development [2] Investment and Consumption - Fixed asset investment (excluding rural households) increased by 14.8% year-on-year, with the primary industry investment growing by 47.2%, secondary industry by 15.3%, and tertiary industry by 9.1% [3] - Social retail sales totaled 250.81 billion yuan, reflecting a year-on-year growth of 7.7%, with urban retail sales increasing by 7.6% and rural retail sales by 8.5% [3] Income Growth - The per capita disposable income for residents reached 20,042 yuan, showing a nominal year-on-year growth of 5.2% [3]

Group 1 - The establishment of New Millennium Dawn Agricultural Development (Heilongjiang) Co., Ltd. with a registered capital of 100 million RMB [1][2] - The company is wholly owned by Jilin Dawanbei Agricultural Group Co., Ltd. [1] - The business scope includes various agricultural services such as technology services, agricultural production management, and supply chain management [1][2] Group 2 - The legal representative of the company is Li Hanxue [2] - The company is registered in Heilongjiang Province, specifically in Hailun City [2] - The business type is a limited liability company with no fixed term of operation [2]

Core Viewpoint - Wanxianghui Holdings (Jiangsu) Co., Ltd. has been established with a registered capital of 48 million RMB, fully owned by Jiangsu Wanxianghui Agricultural Technology Co., Ltd. [1] Company Summary - The legal representative of Wanxianghui Holdings is Chen Lianying [1] - The registered capital of the company is 48 million RMB [1] - The company is located at No. 700 Tianyin Avenue, Dongshan Headquarters Business Park, Jiangning District, Nanjing [1] - The company type is a limited liability company (wholly owned by a legal entity) [1] - The business term is until July 28, 2025, with no fixed term thereafter [1] - The company is registered with the Jiangning District Administrative Service Management Office [1] Business Scope - The business scope includes holding company services, agricultural scientific research and experimental development, and various agricultural services [1] - Services offered include agricultural production material purchasing, agricultural machinery services, and agricultural production management [1] - The company is involved in the sale and rental of agricultural machinery, soil pollution treatment, and rural tourism resource development [1] - The company also engages in the cultivation and processing of various crops, including grains, vegetables, and fruits [1] - Additional services include irrigation, garden management, and the sale of fertilizers and agricultural films [1]

Group 1 - Shanghai Herun Shichuang Industrial Development Co., Ltd. has been established with a registered capital of 10 million RMB, fully owned by Zhongchuang Green (Shenzhen) Industrial Holding Group Co., Ltd. [1] - The legal representative of the newly established company is Huang Jinhong [1]. - The company operates in various sectors including smart agricultural management, agricultural professional and auxiliary activities, and information consulting services [2]. Group 2 - Zhongchuang Green (Shenzhen) Industrial Holding Group Co., Ltd. holds 100% of the shares in Shanghai Herun Shichuang Industrial Development Co., Ltd. [2]. - The business scope includes primary agricultural product acquisition, soil pollution governance and remediation services, and supply chain management services [2]. - The company is registered in Shanghai, with its business license allowing it to operate various activities, subject to legal approvals where necessary [2].

Core Viewpoint - The report provides an overview of the performance and management of the Hua Bao Zhong Zheng All-Index Agricultural, Animal Husbandry, and Fishery Index Fund for the second quarter of 2025, highlighting its investment strategy, financial indicators, and market conditions affecting the fund's performance [1][2][3]. Fund Overview - Fund Name: Hua Bao Zhong Zheng All-Index Agricultural, Animal Husbandry, and Fishery Index Fund - Fund Manager: Hua Bao Fund Management Co., Ltd. - Fund Custodian: Shanghai Pudong Development Bank Co., Ltd. - Total Fund Shares at Period End: 114,137,173.13 shares [1][2]. - Investment Objective: To closely track the performance of the benchmark index with minimal tracking deviation and error [2][3]. Financial Indicators and Fund Performance - The fund's net value growth rate for Class A shares was 6.00% over the past three months, while Class C shares had a growth rate of 5.92% [6][14]. - The performance benchmark for the fund is defined as the return of the Zhong Zheng All-Index Agricultural, Animal Husbandry, and Fishery Index multiplied by 95% plus the after-tax return of RMB bank demand deposits multiplied by 5% [6][14]. - The fund's performance over various periods includes: - Last three months: 6.00% (A), 5.92% (C) - Last six months: 4.30% (A), 4.14% (C) - Last year: 5.58% (A), 5.27% (C) - Since fund inception: -24.26% (A), -25.06% (C) [6][14]. Investment Strategy - The fund employs a passive index investment strategy, primarily using a full replication method to track the benchmark index's performance [3][14]. - The fund aims to keep the absolute value of daily tracking deviation within 0.35% and annual tracking error within 4% [3][14]. Market Conditions - The report notes a moderate recovery in the domestic macroeconomic environment, with supportive fiscal and monetary policies being implemented [13]. - The A-share market exhibited structural trends, with significant performance differences across sectors during the second quarter of 2025 [13]. - The Zhong Zheng Agricultural, Animal Husbandry, and Fishery Index increased by 5.61% during the reporting period [13].

Core Viewpoint - Recently, Liupanshui Baitong Agricultural Machinery Maintenance Service Co., Ltd. was established, fully owned by Guizhou Baiyao Hongyuan Traditional Chinese Medicine Industry Development Co., Ltd. with a registered capital of 2 million RMB [1] Company Summary - Company Name: Liupanshui Baitong Agricultural Machinery Maintenance Service Co., Ltd. [1] - Legal Representative: Deng Guixing [1] - Registered Capital: 2 million RMB [1] - Shareholder: Guizhou Baiyao Hongyuan Traditional Chinese Medicine Industry Development Co., Ltd. holds 100% [1] - Business Scope: Includes installation and maintenance of agricultural machinery, specialized equipment repair, agricultural machinery services, dismantling and recycling of scrapped agricultural machinery, sales of machinery and agricultural equipment, and agricultural machinery leasing [1] Industry Summary - Industry Classification: Agriculture, Forestry, Animal Husbandry, and Fishery [1] - Address: Guizhou Province, Liupanshui City, High-tech Industrial Development Zone, Hongqiao Middle Road 81, Guizhou Western Agricultural Products Logistics Park [1] - Company Type: Limited liability company (wholly owned by a legal entity) [1] - Business Duration: Until July 17, 2025, with no fixed term [1] - Registration Authority: Liupanshui Market Supervision Administration, High-tech Industrial Development Zone Branch [1]

Core Insights - A new company, Xiushui Guojin Agriculture Co., Ltd., has been established with a registered capital of 50 million RMB [1] - The company is wholly owned by Xiushui Fengning Construction Co., Ltd. [1] - The business scope includes various agricultural activities such as seed production, livestock management, aquaculture, and agricultural machinery leasing [1] Company Overview - Company Name: Xiushui Guojin Agriculture Co., Ltd. [1] - Legal Representative: Chen Dong [1] - Registered Capital: 50 million RMB [1] - Business Type: Limited liability company (non-natural person investment or holding) [1] - Registration Authority: Xiushui Market Supervision Administration [1] Business Scope - The company’s operations include licensed projects such as forestry seed production, grass seed production, timber harvesting, and aquaculture [1] - Additional services include agricultural management, technology services, and various forms of agricultural production and processing [1] - The company is located in Xiushui County, Jiangxi Province, China [1]

Group 1 - A new company, Hengyi (Shandong) Agricultural Development Co., Ltd., has been established with a registered capital of 50 million RMB [1] - The legal representative of the company is Shi Hongchen, and it is wholly owned by Huanyu Times (Shandong) Investment Holding Co., Ltd. [1] - The company operates in the agricultural sector, specifically in professional and auxiliary agricultural activities [2] Group 2 - Huanyu Times (Shandong) Investment Holding Co., Ltd. holds 100% of the shares in Hengyi Agricultural Development [2] - The business scope of Huanyu includes smart agricultural management, investment activities, enterprise management, and various technical services [2] - The company is located in the North Lake Provincial Tourism Resort area of Jining, Shandong Province [2]

Company Overview - Jiangxi Sanbang Smart Agriculture Technology Co., Ltd. has been established with a registered capital of 2 million RMB [1] - The legal representative is Chen Shixian, and the company is wholly owned by Jiangxi Sanbang Zhuming Agricultural Technology Co., Ltd. [1] Business Scope - The company’s business includes the wholesale and retail of pesticides, internet sales of food, road cargo transportation (network freight), and urban delivery services [1] - Additional services include crop cultivation, agricultural machinery services, fertilizer sales, agricultural film sales, and primary processing of edible agricultural products [1] - The company is also involved in the wholesale and retail of edible agricultural products, daily necessities sales, supply chain management services, and ordinary goods warehousing services [1] Regulatory Compliance - The company is required to obtain relevant approvals for certain activities, and it can only operate within the validity period of these approvals [1] - The business activities are subject to the regulations set by the relevant authorities, and specific projects may require licenses [1] Industry Classification - The company falls under the national standard industry classification of agriculture, forestry, animal husbandry, and fishery, specifically in professional and auxiliary agricultural activities [1]

Core Viewpoint - Tianjin Ruihe Tiansheng Trading Development Co., Ltd. has been established with a registered capital of 395 million RMB, fully owned by Tianjin Jizhou New Town Construction Investment Co., Ltd. [1] Company Summary - Company Name: Tianjin Ruihe Tiansheng Trading Development Co., Ltd. [1] - Legal Representative: Wei Shiyu [1] - Registered Capital: 395 million RMB [1] - Shareholder: Tianjin Jizhou New Town Construction Investment Co., Ltd. holds 100% [1] - Company Type: Limited Liability Company (Sole Proprietorship) [1] - Business Address: Room 303, No. 1-20, Xianglin Road, Zhouhewan Town, Jizhou District, Tianjin [1] - Business Duration: Until June 17, 2025, with no fixed term [1] - Registration Authority: Tianjin Jizhou District Market Supervision Administration [1] Industry Summary - Business Scope includes wholesale of edible agricultural products, technical services, urban greening management, and various types of agricultural planting such as fruits, vegetables, and medicinal herbs [1] - The company is involved in both retail and wholesale of agricultural products, as well as forestry management and pest control services [1] - The company is classified under the national standard industry of agriculture, forestry, animal husbandry, and fishery, specifically focusing on professional and auxiliary activities in agriculture [1]