Core Viewpoint - The article discusses the performance of quantitative funds in the first half of 2025, highlighting the increasing popularity of quantitative trading amid market volatility and the significant returns achieved by various types of quantitative funds [3][4]. Summary by Category Overall Performance of Quantitative Funds - As of June 30, 2025, there were 1,258 quantitative funds with reported performance, achieving an average return of 4.72% and a median return of 3.74%, with 86.15% of these funds generating positive returns [4][6]. Types of Quantitative Funds - **Active Quantitative Funds**: These funds had the highest returns, with an average return of 7.5% and a median return of 5.91%. The positive return rate was 87.78% [5][6]. - **Index Enhanced Funds**: Although these funds had slightly lower returns, they had the highest positive return rate at 92.09%. The average return was 5.81% and the median was 4.61% [6]. - **Quantitative Hedge Funds**: These funds had the lowest performance, with an average return of 0.85% and a median return of 0.7%, and a positive return rate of 78.57% [6]. Top Performing Funds - The top 10 index-enhanced quantitative funds had a minimum return threshold of 18.77%, with funds tracking small-cap indices dominating the list. The top fund was managed by 创金合信基金, achieving a return of 37.17% [7][8]. - The top 10 active quantitative funds had a minimum return threshold of 24.64%, with 诺安基金 and 中加基金 leading the rankings with returns of 40.62% and 35.55%, respectively [12][14]. - The top 10 quantitative hedge funds had a minimum return threshold of 0.82%, with 中邮基金 and 富国基金 leading the performance [16]. Market Trends and Insights - The article notes that the increased focus on index-enhanced products is driven by several factors, including investor sentiment towards star fund managers, the introduction of attractive indices, and regulatory encouragement for index-based investments [9].

Core Viewpoint - In the first half of 2025, the popularity of quantitative trading continues to rise amid increased activity in small-cap stocks and market volatility, with a significant number of quantitative funds showing positive returns [1][3]. Group 1: Performance of Quantitative Funds - As of June 30, 2025, there are 1,258 quantitative funds with an average return of 4.72% and a median return of 3.74%, with 86.15% of these funds achieving positive returns [1]. - Among the three categories of public quantitative funds, active quantitative funds have the highest returns, with average and median returns of 7.5% and 5.91% respectively [1]. - Index-enhanced funds, while slightly lower in returns, have the highest proportion of positive returns at 92.09% [1]. Group 2: Top Performing Funds - The threshold for the top 10 index-enhanced quantitative funds is set at 18.77%, with all top 10 funds tracking small-cap stock indices [3]. - The top three funds in the index-enhanced category are managed by 创金合信基金, 招商基金, and 长盛基金 [3]. - The top-performing index-enhanced fund, 创金合信北证50成份指数增强A, achieved a return of 37.17% in the first half of 2025 [5]. Group 3: Active Quantitative Funds - The threshold for the top 10 active quantitative funds is the highest at 24.64%, with the top three funds managed by 诺安基金, 中加基金, and 汇安基金 [8]. - The leading active quantitative fund, 诺安多策略A, recorded a return of 40.62% [10]. - The second-ranked fund, 中加专精特新量化选股A, achieved a return of 35.55% [11]. Group 4: Quantitative Hedge Funds - The threshold for the top 10 quantitative hedge funds is 0.82%, with 中邮基金, 富国基金, and 申万菱信基金 managing the top three funds [12]. - 工银瑞信基金 has two funds listed among the top 10 [12].

Financial Performance - The basic earnings per share (EPS) decreased by 26.23% to 0.2951 yuan in 2024 from 0.4000 yuan in 2023 [1] - Net profit fell by 26.09% to 0.51 billion yuan in 2024 compared to 0.69 billion yuan in 2023 [1] - Revenue increased by 12.62% to 6.07 billion yuan in 2024 from 5.39 billion yuan in 2023 [1] - Return on equity (ROE) decreased by 29.44% to 8.63% in 2024 from 12.23% in 2023 [1] - The net asset per share rose by 3.85% to 3.51 yuan in 2024 from 3.38 yuan in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 39.102 million shares, accounting for 49.76% of the circulating shares, with an increase of 2.8851 million shares compared to the previous period [1] - Notable shareholders include 樊荣 with 2011.07 million shares (25.60%), 桑红梅 with 1049.77 million shares (13.36%), and new entrants like 李欣 and 周信钢 [2] Dividend Distribution - The company announced a dividend distribution of 2 yuan per share (including tax) [3]