Fund Overview - The fund is named Donghai Xianglong Flexible Allocation Mixed Securities Investment Fund (LOF) and is managed by Donghai Fund Management Co., Ltd. [3][12] - The fund's trustee is Industrial and Commercial Bank of China Limited [3][12]. - The fund was established on December 21, 2016, and its shares are listed on the Shenzhen Stock Exchange [3][12]. Investment Objectives and Strategies - The fund aims to achieve long-term stable appreciation of assets while strictly controlling risks [5]. - Investment strategies include asset allocation, stock investment, warrant investment, asset-backed securities investment, and private debt investment in small and medium enterprises [5]. Performance Metrics - As of June 30, 2025, the fund's net asset value (NAV) for Class A shares is 0.8605 RMB, with a net value growth rate of 3.51% [18][23]. - For Class C shares, the NAV is 0.8600 RMB, with a net value growth rate of 3.46% [18][23]. - The fund's performance benchmark is a combination of the CSI 300 Index return (50%) and the China Bond Composite Index return (50%) [5]. Financial Highlights - The total assets of the fund as of June 30, 2025, amount to 10,639,620.11 RMB, compared to 9,530,047.23 RMB at the end of the previous year [22][23]. - The fund reported total income of 406,280.48 RMB for the period from January 1, 2025, to June 30, 2025, compared to a loss of 1,073,432.69 RMB in the same period of the previous year [23]. - The fund's total expenses for the same period were 31,368.07 RMB, down from 42,961.51 RMB in the previous year [23]. Management and Governance - Donghai Fund Management Co., Ltd. emphasizes a commitment to investor interests and adheres to strict investment decision-making processes [15][17]. - The fund management has established a fair trading system and monitoring mechanisms to prevent conflicts of interest [16][17]. Market Outlook - The fund's management anticipates that the value of dividend assets will continue to be significant in the second half of 2025, with a focus on large-cap value stocks that provide stable cash flows and dividends [19]. - The strategy will continue to emphasize "dividend + cash flow + large-cap value" to optimize risk-return profiles for investors [19].