Core Insights - Baoli Food (603170.SH) released its semi-annual report for 2025, indicating that as of August 27, 2025, institutional investors hold a total of 196 million shares, accounting for 48.94% of the company's total equity [1] - The proportion of shares held by institutional investors decreased by 0.10 percentage points compared to the previous quarter [1] Institutional Holdings - Eight institutional investors disclosed their holdings in Baoli Food, including notable entities such as Hangzhou Zhenpin Zhixin Investment Partnership, Shanghai Houxu Asset Management, and China Postal Savings Bank [1] - Three new public funds were disclosed this period, while two public funds were not reported in the current quarter [1] Social Security Fund - The National Social Security Fund's holdings increased slightly, with one fund, the National Social Security Fund 111 Combination, showing a small rise in shareholding [1]

Core Viewpoint - The report provides an overview of the performance and management of the Dongcai Food and Beverage Index Enhanced Fund, highlighting its investment strategy, financial indicators, and net asset value performance during the reporting period from April 1, 2025, to June 30, 2025 [1][2]. Fund Product Overview - Fund Name: Dongcai Food and Beverage Index Enhanced Fund - Fund Code: 012340 - Fund Type: Contractual open-end fund - Effective Date of Fund Contract: November 2, 2021 - Total Fund Shares at Reporting Period End: 76,102,528.41 shares - Investment Objective: To effectively track the benchmark index while striving for higher investment returns through enhanced active investment strategies [2]. - Investment Strategy: Utilizes index-based investment methods and quantitative strategies to achieve excess returns while controlling tracking errors [2]. - Performance Benchmark: 95% of the return of the China Securities Food and Beverage Index plus 5% of the after-tax return of bank demand deposits [2]. Financial Indicators and Fund Net Value Performance - The fund's net value performance for different periods is as follows: - Last three months: -3.20% for Class A, -3.25% for Class C, -3.26% for Class E, with benchmark return of -4.61% [4][9]. - Last six months: -3.73% for Class A, -3.86% for Class C, -3.86% for Class E, with benchmark return of -6.31% [4][9]. - Last year: -1.29% for Class A, -1.58% for Class C, -1.58% for Class E, with benchmark return of 2.18% [4][9]. - Since fund contract inception: -39.57% for Class A, -40.22% for Class C, -39.57% for Class E, with benchmark return of -37.35% [4][9]. Investment Portfolio Report - As of June 30, 2025, the fund's total assets included: - Stocks: 43,104,672.76 yuan, accounting for 93.74% of total assets [11]. - The fund did not hold any bonds or asset-backed securities during the reporting period [12]. - The manufacturing sector represented the largest portion of the investment portfolio, with a fair value of 41,897,367.76 yuan, accounting for 91.68% of the fund's net asset value [11].