Core Viewpoint - The report provides an overview of the performance and management of the Penghua CSI A-Share Resource Industry Index Fund (LOF) for the second quarter of 2025, highlighting its investment strategy, financial performance, and compliance with regulations [1][11]. Fund Overview - Fund Name: Penghua CSI A-Share Resource Industry Index Fund (LOF) - Fund Manager: Penghua Fund Management Co., Ltd. - Fund Custodian: Industrial and Commercial Bank of China Ltd. - Total Fund Shares at Period End: 78,295,427.39 shares [2]. - Investment Objective: To closely track the benchmark index with a daily tracking deviation of less than 0.35% and an annual tracking error of less than 4% [2]. Investment Strategy - The fund employs a passive index investment approach, constructing an investment portfolio based on the benchmark weights of constituent stocks [3]. - The fund aims to invest at least 90% of its net assets in the constituent stocks of the benchmark index and maintain at least 5% in cash or government bonds with a maturity of less than one year [3][4]. Performance Metrics - The fund's A-share class net value growth rate for the reporting period was 2.43%, while the benchmark growth rate was 0.97% [12]. - The fund's C-share class net value growth rate was 2.40%, also against a benchmark growth rate of 0.97% [12]. Financial Indicators - The report indicates that the fund's performance was influenced by various factors, including market conditions and macroeconomic changes, with the Shanghai Composite Index rising by 3.26% during the period [11]. - The fund's average tracking deviation and tracking error were well controlled, achieving the operational goals set by the fund management [11]. Portfolio Composition - As of the end of the reporting period, the fund's total assets were primarily allocated to stocks, with a significant portion in the mining industry [13]. - The fund's investment strategy includes adjustments based on changes in the benchmark index and liquidity analysis of constituent stocks [4][5]. Management Report - The fund manager, Yan Dong, has 15 years of experience in the securities industry and has been managing this fund since November 2019 [8]. - The fund management adheres to strict compliance with regulations and fair trading practices, ensuring that all investment decisions are made in the best interest of the fund holders [10][11].