Core Viewpoint - The article discusses the launch of a new floating fee rate product, Zhongyin Quality Emerging Mixed Fund, which employs a unique management fee mechanism based on holding period and excess return rates [1]. Fund Overview - Zhongyin Quality Emerging Mixed Fund has a performance benchmark composed of 60% CSI 300 Index, 15% Hang Seng Index, 20% China Bond Composite Index, and 5% bank demand deposits, reflecting a diversified market trend [1]. - The fund aims to provide a reasonable performance reference for investors by covering both A-shares and Hong Kong stocks [1]. Fund Management - The fund will be managed by Li Sijia, who has a comprehensive background in cyclical, financial, and growth sectors, focusing on balanced investment strategies [1]. - Li Sijia aims to achieve stable risk-adjusted returns by diversifying income sources and avoiding single beta exposure [1]. Performance Review - Zhongyin Strategic Emerging Industry Stock A, managed by Li Sijia since October 2023, achieved a 43.92% return over the past year, significantly outperforming its benchmark of 15.37% [2]. - The fund has shown strong performance in recent years, with notable returns in 2020 (66.16%) and 2021 (25.75%), despite a downturn in 2022 (-19.96%) [4]. Market Outlook - Li Sijia expresses a long-term positive outlook on technology growth assets and cyclical industries, driven by strong industry trends and improvements in return on equity (ROE) [2]. - The article highlights the investment opportunities arising from the rapid growth of AI applications and the ongoing evolution of humanoid robotics, indicating a structural demand surge in related sectors [2]. Company Strategy - Zhongyin Fund aims to enhance its integrated investment research capabilities while providing diversified asset allocation solutions to improve investor experience [3].

Core Insights - The launch of the new floating fee rate product, Zhongyin Quality Emerging Mixed Fund, marks a significant development in the fund management industry, aligning with regulatory initiatives to enhance fund performance linkage to management fees [1][2] - The fund employs a unique floating management fee mechanism based on holding period and excess return, which is designed to incentivize performance and align interests between fund managers and investors [1][2] Fund Structure and Fee Mechanism - The floating management fee structure includes a 1.20% annual fee for holding periods under one year, while longer holding periods will have tiered fees of 0.60%, 1.20%, and 1.50% based on performance relative to a benchmark [1][2] - The performance benchmark for the fund consists of the CSI 300 Index (60%), Hang Seng Index (15%), China Bond Composite Index (20%), and bank demand deposits (5%), reflecting a diversified approach to performance measurement [2] Fund Management and Performance - The fund will be managed by Li Sijia, who has a comprehensive background in various sectors, aiming to achieve stable risk-adjusted returns through diversified income sources [2] - Li Sijia's previous management of the Zhongyin Strategic Emerging Industry Equity Fund yielded a 43.92% return over the past year, significantly outperforming the benchmark return of 15.37% [2][4] Market Context and Opportunities - The emergence of DeepSeek has triggered a global reassessment of Chinese tech assets, creating favorable conditions for sectors such as humanoid robots, artificial intelligence, and semiconductors [2] - The rapid growth of overseas AI applications is expected to drive investment opportunities in computing power-related sectors, indicating a structural demand surge [2]