Core Insights - The best-performing fund managed by manager Xiong Zheying in Q2 2025 is the Huaan Advanced Manufacturing Mixed Initiation A (020428), with a quarterly net value increase of 10.92% [1] Fund Performance Summary - Huaan Low Carbon Life Mixed A: - Scale: 10.17 billion - Annualized Return: 16.40% - Q2 2025 Increase: -0.47% - Top Holding: Kuaishou-W - White Net Value Ratio: 4.58% [2] - Huaan Low Carbon Life Mixed C: - Scale: 4.66 billion - Annualized Return: 9.72% - Q2 2025 Increase: -0.62% - Top Holding: Kuaishou-W - White Net Value Ratio: 4.58% [2] - Huaan New Energy Theme Mixed A: - Scale: 0.70 billion - Annualized Return: -8.15% - Q2 2025 Increase: 8.05% - Top Holding: CATL - White Net Value Ratio: 5.95% [2] - Huaan Advanced Manufacturing Mixed Initiation A: - Scale: 0.19 billion - Annualized Return: 17.38% - Q2 2025 Increase: 10.92% - Top Holding: Jinqiao Information - White Net Value Ratio: 7.08% [2] - Huaan New Energy Theme Mixed C: - Scale: 0.07 billion - Annualized Return: -8.71% - Q2 2025 Increase: 7.88% - Top Holding: CATL - White Net Value Ratio: 5.95% [2] - Huaan Advanced Manufacturing Mixed Initiation C: - Scale: 0.04 billion - Annualized Return: 16.94% - Q2 2025 Increase: 10.81% - Top Holding: Jinqiao Information - White Net Value Ratio: 7.08% [2] Stock Adjustment Cases - Notable stock adjustments include: - Jinhua Technology: - Buy Quarter: Q2 2021 - Sell Quarter: Q3 2021 - Company Performance Growth: 58.92% - Estimated Return: 105.28% [3][5] - Defang Nano: - Buy Quarter: Q3 2021 - Sell Quarter: Q3 2022 - Company Performance Growth: 355.30% - Estimated Return: 90.65% [3][6] - Zhongxin International: - Buy Quarter: Q3 2024 - Sell Quarter: Q4 2024 - Company Performance Growth: 27.72% - Estimated Return: 88.67% [3] - Tongwei Co.: - Buy Quarter: Q2 2021 - Sell Quarter: Q3 2022 - Company Performance Growth: 217.34% - Estimated Return: 52.80% [3] - Suotong Development: - Buy Quarter: Q2 2022 - Sell Quarter: Q3 2022 - Company Performance Growth: 105.12% - Estimated Return: 44.90% [3] - Sunshine Power: - Buy Quarter: Q2 2022 - Sell Quarter: Q3 2022 - Company Performance Growth: 127.04% - Estimated Return: 43.74% [3] Underperforming Stock Adjustments - Notable underperforming stock adjustments include: - Wentai Technology: - Buy Quarter: Q4 2021 - Sell Quarter: Q2 2022 - Company Performance Growth: 10.15% - Estimated Return: -43.56% [4][7] - Xinlang Micro: - Buy Quarter: Q3 2021 - Sell Quarter: Q2 2022 - Company Performance Growth: 158.77% - Estimated Return: -40.91% [4] - Beijing Junzheng: - Buy Quarter: Q3 2021 - Sell Quarter: Q2 2022 - Company Performance Growth: 2.61% - Estimated Return: -39.11% [4] - Wanye Enterprise: - Buy Quarter: Q4 2021 - Sell Quarter: Q3 2022 - Company Performance Growth: 31.56% - Estimated Return: -28.27% [4] - Changchuan Technology: - Buy Quarter: Q4 2021 - Sell Quarter: Q2 2022 - Company Performance Growth: 111.32% - Estimated Return: -27.37% [4]

Group 1 - The core viewpoint of the article highlights the performance and strategic positioning of the Huaan New Energy Theme Mixed A Fund, which reported a profit of 5.44 million yuan in Q2 2025, with a net asset value growth rate of 8.05% [2] - As of July 18, 2025, the fund's unit net value was 0.763 yuan, and it had a total scale of 73.81 million yuan [2][14] - The fund manager anticipates a turning point in the supply side of the new energy industry by the end of 2024, with improvements in capacity utilization and pricing for batteries and wind power starting in 2025 [2] Group 2 - The fund's recent performance metrics include a 20.21% growth rate over the past three months, ranking 71 out of 615 comparable funds, and a 28.91% growth rate over the past year, ranking 143 out of 584 [3] - The fund's three-year Sharpe ratio is -0.1203, ranking 208 out of 319 comparable funds, indicating a relatively poor risk-adjusted return [8] - The maximum drawdown over the past three years was 50.01%, with the largest single-quarter drawdown occurring in Q1 2024 at 23.65% [10] Group 3 - The fund maintained an average stock position of 84.93% over the past three years, slightly above the industry average of 83.26% [13] - The top ten holdings of the fund as of Q2 2025 include major companies such as CATL, Leap Motor, and Ganfeng Lithium, indicating a strong focus on key players in the new energy sector [17]