Core Viewpoint - The Chinese stock market is experiencing a positive upward trend due to multiple favorable factors, leading to a significant increase in investor demand for quality core assets [1][2] Fund Overview - Huashang Fund has launched the Huashang CSI 300 Index Enhanced Fund (Class A: 024313 / Class C: 024314) to help investors seize core asset allocation opportunities through a dual strategy of core asset beta and active alpha [1] - The fund will end its fundraising period on August 15 [1][2] Index Characteristics - The Huashang CSI 300 Index, which the fund is anchored to, includes 300 leading companies with high market capitalization and liquidity from the Shanghai and Shenzhen stock exchanges, primarily in the financial, industrial, and information technology sectors [1] - This index reflects a diversified combination of cyclical, defensive, and growth characteristics, allowing investors to capture both traditional industry valuation recovery opportunities and emerging industry development dividends [1] Investment Strategy - The fund integrates Huashang Fund's deep expertise in active management with advanced quantitative investment techniques, aiming for dual return potential of "index β + quantitative α" [1] - Historical data indicates that mainstream index-enhanced products, including the CSI 300 Index, typically achieve annualized excess returns in the range of 3% to 8%, with a median volatility lower than corresponding ETFs, providing a better risk-reward ratio for investors in volatile markets [1][2] Management Team - The fund will be managed by two core members of Huashang Fund's quantitative investment team: Dr. Deng Mo and Dr. Ai Dingfei, both of whom have extensive experience in the securities industry [2][3] - Dr. Deng Mo has over 14 years of experience in the investment research field, while Dr. Ai Dingfei has nearly 11 years of experience, including a background at Goldman Sachs [2][3] Market Context - The investment value of China's core assets is increasingly prominent, and the quantitative enhancement strategy for the CSI 300 Index allows investors to benefit from China's economic transformation and strive for excess returns through active management [2]

Core Insights - The Chinese stock market is experiencing a positive upward trend due to multiple favorable factors, leading to a significant increase in demand for quality core assets among investors [1] - Huashang Fund has launched the Huashang CSI 300 Index Enhanced Fund, which aims to leverage a dual strategy of core asset beta and active alpha to help investors seize core asset allocation opportunities [1][2] - The fund is set to end its fundraising period on August 15, 2025, and is positioned as a key member of Huashang Fund's index enhancement family, targeting the CSI 300 Index, which includes 300 leading companies with high market capitalization and liquidity [1][3] Investment Strategy - The fund combines Huashang Fund's deep expertise in active management with advanced quantitative investment techniques, aiming for dual return potential through "index β + quantitative α" [1][2] - Historical data indicates that mainstream index enhancement products, including the CSI 300 Index, typically achieve annualized excess returns in the range of 3% to 8%, with a median volatility lower than corresponding ETFs, providing a better risk-return profile for investors in volatile markets [1] Management Team - The fund will be co-managed by Dr. Deng Mo and Dr. Ai Dingfei, both of whom have extensive experience in quantitative investment [2] - Dr. Deng Mo has over 14 years of experience in the investment research field, with a focus on balanced allocation and high-quality assets in high-growth industries [2][3] - Dr. Ai Dingfei, with nearly 11 years of experience, specializes in integrating AI algorithms with quantitative models to optimize portfolio construction and mitigate emotional biases in rapidly changing markets [2]

Group 1 - The Chinese stock market is experiencing a positive upward trend due to multiple favorable factors, leading to a significant increase in investor demand for quality core assets [1] - Huashang Fund has launched the Huashang CSI 300 Index Enhanced Fund, which aims to leverage a dual strategy of core asset beta and active alpha to help investors seize core asset allocation opportunities [1] - The fund is set to end its fundraising on August 15 and is an important member of Huashang Fund's index enhancement family, anchored to the CSI 300 Index, which includes 300 leading companies with high market capitalization and liquidity [1] Group 2 - The CSI 300 Index reflects a diverse combination of cyclical, defensive, and growth characteristics, allowing investors to capture valuation recovery opportunities in traditional industries while participating in the growth of emerging sectors [1] - The Huashang CSI 300 Index Enhanced Fund combines Huashang Fund's deep experience in active management with advanced quantitative investment techniques, aiming for dual return potential of "index β + quantitative α" [1] - Historical data shows that mainstream index enhancement products, including the CSI 300 Index, typically achieve annualized excess returns in the range of 3% to 8%, with a median volatility lower than corresponding ETFs, providing a better risk-return ratio for investors [1] Group 3 - The fund will be managed by two core members of Huashang Fund's quantitative investment team, Dr. Deng Mo and Dr. Ai Dingfei, both of whom have extensive experience in the securities investment field [2] - Dr. Deng Mo has over 14 years of experience in investment research, focusing on balanced allocation strategies and high-quality assets in high-growth industries [2] - Dr. Ai Dingfei, with nearly 11 years of experience, combines AI algorithms with quantitative models to optimize portfolio construction and adapt to rapidly changing markets [2] Group 4 - The investment value of China's core assets is increasingly prominent, and the quantitative enhancement strategy for the CSI 300 Index aims to capture the benefits of China's economic transformation while striving for excess returns through active management [2]

Core Viewpoint - The investment value of China's core assets is increasingly prominent amid the ongoing high-quality economic development and accelerated industrial transformation in China [1] Group 1: Fund Launch and Management - Huashang Fund launched the Huashang CSI 300 Index Enhanced Fund on August 4, aiming to leverage active management advantages to create excess returns through a quantitative stock selection model [1] - The fund will be managed by Dr. Deng Mo and Dr. Ai Dingfei, both of whom are recognized experts in quantitative investment [4][5] Group 2: Index Characteristics - The CSI 300 Index is a representative core broad-based index of the A-share market, comprising 300 leading companies with high market capitalization and liquidity, reflecting the economic trends in China [1] - As of the second quarter of 2025, the top three sectors in the CSI 300 Index—finance, industry, and information technology—account for 57.6%, indicating a balanced mix of cyclical, defensive, and growth sectors [1] Group 3: Valuation Metrics - The CSI 300 Index's price-to-earnings ratio has decreased from approximately 17.4 times in February 2021 to 13.19 times, placing it at the 70th percentile over the past decade, with a dividend yield close to 2.8% [3] Group 4: Investment Strategy - The fund aims to achieve "index β + quantitative α" dual return potential by combining big data analysis with quantitative models for stock selection [4] - The investment strategy will focus on diversified allocation within a small deviation from the benchmark index to capture excess returns [6] Group 5: Performance and Outlook - Huashang Fund's active equity funds ranked 3rd and 8th in absolute returns over the past 7 and 5 years, respectively, showcasing strong active management capabilities [6] - The current market valuation is considered reasonable, and liquidity remains ample, which is favorable for the performance of multi-factor quantitative models [6]