Core Viewpoint - The AI Fund Huashang Medical Healthcare Industry Stock (008107) reported a profit of 10.4658 million yuan for Q2 2025, with a weighted average profit per fund share of 0.0867 yuan, and a net asset value growth rate of 9.27% during the period [2]. Fund Performance - As of July 18, the fund's unit net value was 1.185 yuan, with a one-year cumulative net value growth rate of 31.43%, the highest among its peers [2]. - The fund's performance over different time frames includes a three-month growth rate of 25.30%, a six-month growth rate of 39.08%, and a three-year growth rate of 5.05% [3]. - The fund's Sharpe ratio over the past three years is 0.0875, ranking 16 out of 46 comparable funds [8]. Fund Management Insights - The fund manager noted that global economic variables in Q2 were primarily influenced by tariff and fiscal policies, with a shift from extreme pessimism to stability in tariff policies [2]. - The domestic economy showed slight overall slowdown, with resilience in the industrial sector and structural differences driven by the "old-for-new" consumption policy [2]. Sector Performance - In Q2, sectors such as military industry, non-ferrous metals, new consumption, innovative drugs, overseas computing power chains, and large finance performed well, indicating a recovery in market sentiment and risk appetite [2]. - Within the pharmaceutical sector, innovative drugs stood out, supported by multiple clinical data releases and significant business development (BD) agreements [2]. Fund Holdings - As of Q2 2025, the fund's total assets amounted to 139 million yuan, with the top ten holdings including companies like Innovent Biologics, WuXi AppTec, and Mindray Medical [15][18].