Core Insights - The report indicates that the Shanghai Composite Index rose by 1.40% and the Shenzhen Component Index increased by 1.25% during the period from June 30 to July 4, 2025, with the steel and building materials sectors performing particularly well [2] - Various types of funds experienced gains, with actively managed equity funds rising by 1.82%, mixed funds increasing by 1.25%, and bond funds up by 0.17% [2] Equity Sector Performance - The steel sector showed strong performance, with the majority of the Shenwan first-level industries experiencing gains, particularly in steel and building materials [8] - Over the last 12 periods, banks and comprehensive sectors have also performed well [8] Fund Performance - Actively managed equity funds focusing on the pharmaceutical and biotechnology sectors performed notably well during this period [11] - The top-performing representative actively managed equity funds included: - Yongying Medical Health A with a return of 15.52% - Hongtu Innovation Healthcare Stock with a return of 13.39% [12] - The top-performing representative index equity funds included: - Hong Kong Stock Connect Innovative Drug ETF with a return of 7.58% - Huatai-PB Hang Seng Innovative Drug ETF with a return of 6.21% [12] Fixed Income Sector Performance - The bond market indices showed positive movement, with the China Convertible Bond Index rising by 1.21% and convertible bond funds increasing by 0.91% [14] - The average return for convertible bond funds this year stands at 7.86% [16] QDII Fund Performance - Various QDII funds showed positive performance, particularly in alternative asset categories, with energy commodity QDII funds rising by 2.08% and gold-related QDII funds increasing by 1.62% [17] - The top-performing QDII funds included: - E Fund Global Pharmaceutical Industry RMB A with a return of 6.53% - Huatai-PB Hang Seng Innovative Drug ETF with a return of 5.47% [19]

Core Insights - The report indicates that the environmental protection sector performed well during the period, with QDII funds showing an average return that outperformed other fund types [1][7][17] - The Shanghai Composite Index experienced a slight decline of 0.03%, while the Shenzhen Component Index fell by 0.91% during the same period [1] - Among various fund types, QDII funds increased by 1.04%, contrasting with declines in actively managed stock funds, mixed funds, and bond funds [1] Fund Performance Summary - The environmental and pharmaceutical sectors were highlighted as strong performers in the recent 12 periods, with banks and beauty care also showing good performance [7] - Active stock funds focusing on the pharmaceutical sector yielded higher returns, with notable funds such as Hongtu Innovation Healthcare Stock Fund achieving a return of 9.67% [12][13] - In the bond market, convertible bond funds led with an average return of 3.90% year-to-date, while traditional bond funds showed mixed results [15][16] QDII Fund Insights - REITs QDII funds led the performance with a return of 2.41%, followed by equity funds focused on Europe and the US, which returned 1.70% [17][18] - The report notes that alternative asset classes, particularly gold-related QDII funds, have shown significant year-to-date growth of 25.91% despite a recent decline of 1.39% [17][18] - Representative QDII funds such as Morgan China Biopharmaceutical A and GF CSI Hong Kong Innovative Medicine ETF reported returns of 4.72% and 4.56%, respectively, during the period [19]