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]

经营范围含农业科学研究和试验发展；以自有资金从事投资活动；农业机械服务；农业专业及辅助性活 动；农业生产托管服务；谷物种植；谷物销售；豆类种植；蔬菜种植；薯类种植；豆及薯类销售；食用 农产品批发；食用农产品初加工；初级农产品收购；非食用农产品初加工；牲畜销售；农副产品销售； 畜牧专业及辅助性活动；水产品零售；水产品批发；园艺产品销售；供应链管理服务；会议及展览服 务；休闲观光活动；经营民宿；销售代理；旅游开发项目策划咨询；露营地服务；体验式拓展活动及策 划；土石方工程施工；园林绿化工程施工；水污染治理；市政设施管理；城市绿化管理；环境卫生公共 设施安装服务；建筑物清洁服务；土地整治服务；工程管理服务；环境卫生管理（不含环境质量监测， 污染源检查，城市生活垃圾、建筑垃圾、餐厨垃圾的处置服务）；农村生活垃圾经营性服务；专业保 洁、清洗、消毒服务；住宅水电安装维护服务；防洪除涝设施管理；租赁服务（不含许可类租赁服 务）；非居住房地产租赁；土地使用权租赁；住房租赁；集贸市场管理服务；广告制作；广告设计、代 理；停车场服务；电动汽车充电基础设施运营；家具销售；日用百货销售；化肥销售；互联网销售（除 销售需要许可的商品） ...

Group 1 - The establishment of Wanyuan Dingfeng Agricultural Technology Development Co., Ltd. with a registered capital of 30 million RMB [1] - The legal representative of the company is Tian Wanxin [1] - Shareholding structure includes Sichuan Shanrong Wanmu Wood Industry Co., Ltd. (45%), Zhongtaihe (Hainan) Biotechnology Co., Ltd. (25%), Sichuan Dazhou Shanrong Wanmu Forestry Development Co., Ltd. (15%), and Tian Guoshan (15%) [1] Group 2 - The company's business scope includes the cultivation of traditional Chinese medicine, initial processing of edible agricultural products, and sales of forestry products [1] - The company is classified under the national standard industry of agriculture, forestry, animal husbandry, and fishery, specifically in forestry management and maintenance [1] - The company is registered in Wanyuan City, Dazhou, Sichuan Province, with an operational period until June 5, 2025, and no fixed term thereafter [1]