Core Insights - The article highlights the transformation of Rongtong Fund under the control of China Chengtong, focusing on its strategic shift towards serving state-owned enterprises and wealth management for residents, leading to significant growth in assets and a differentiated market position [1][2]. Group 1: Company Growth and Strategy - As of June 2025, Rongtong Fund's total assets reached 339.8 billion yuan, marking a historical high with an increase of 107.9 billion yuan, nearly 50% growth since the integration with China Chengtong [1]. - The public fund asset scale reached 154.3 billion yuan, reflecting a nearly 35% increase since the merger [1]. - The company is pursuing a dual-driven development strategy focused on "serving state-owned capital operations" and "serving resident wealth management" [2]. Group 2: Investment Strategy and Innovation - Rongtong Fund is developing a series of indices related to state-owned enterprises, including the China Chengtong Central Enterprise ESG Index and others, which are being transformed into investable ETF products [2]. - The introduction of patent data as a criterion for evaluating corporate innovation in the Central Enterprise Technology Innovation Index represents a significant innovation in value assessment [2]. - The company achieved a record fundraising of 1.785 billion yuan for its Central Enterprise Technology Innovation ETF during a market downturn, indicating strong market acceptance of its strategy [3]. Group 3: Research and Development Transformation - The company is transitioning from a reliance on individual fund managers to a platform-based, team-oriented investment research system, emphasizing a structured approach to high-quality investment decision-making [3][4]. - The establishment of a cross-departmental asset allocation committee facilitates collaboration across various investment sectors, enhancing decision-making processes [3]. - The integration of AI technologies into the investment research ecosystem has significantly improved operational efficiency, with a 50% growth in asset management while only increasing personnel by 5% over three years [5]. Group 4: Future Plans and International Expansion - The company aims for a "three-year transformation and five-year elevation" strategy, focusing on creating a comprehensive product line of central enterprise indices [6]. - Plans include launching a matrix of central enterprise thematic products and expanding into international markets, with the establishment of a Cayman Islands fund and a public fund in Hong Kong [6][7]. - The strategy includes developing QDII funds to provide mainland investors access to global assets and exploring the issuance of ETFs in Hong Kong to facilitate foreign investment in Chinese core assets [7].