Core Viewpoint - The AI Fund Wanjiaguoqi Power Mixed A (019336) reported a profit of 5.2523 million yuan for Q2 2025, with a net asset value growth rate of 5.8% during the period [3] Fund Performance - As of the end of Q2 2025, the fund's scale was 90.0894 million yuan [16] - The fund's unit net value was 1.02 yuan as of July 17 [3] - The fund's performance over different periods includes: - 3-month net value growth rate: 11.24%, ranking 21 out of 82 comparable funds [3] - 6-month net value growth rate: 10.01%, ranking 30 out of 82 comparable funds [3] - 1-year net value growth rate: 6.91%, ranking 49 out of 77 comparable funds [3] Investment Strategy - The fund manager indicated that the second wave of the current commodity bull market will be a core logic supporting the fund's investment strategy, focusing on sectors such as precious metals, industrial metals, crude oil, banking, oil transportation, and public utilities [3] - The fund will also actively look for opportunities in other cyclical and value sectors that are at the bottom of their reversal [3] Risk Metrics - The fund's Sharpe ratio since inception is 0.5009 [8] - The maximum drawdown since inception is 24.52%, with the largest quarterly drawdown occurring in Q2 2025 at 12.05% [11] Portfolio Composition - The fund maintains a high stock position, with an average stock position of 92.55% since inception, compared to the industry average of 84.97% [15] - The fund's top holdings as of Q2 2025 include companies such as Luoyang Molybdenum, Bank of Communications, Zhaojin Mining, China National Offshore Oil, and China Petroleum [19]