Core Insights - Huafu Fund has achieved significant performance in its public offerings, particularly in "equity" products, following an upgrade of its "fixed income+" product system and proactive positioning in equity products [1][2] - The fund's strategic focus on artificial intelligence ETFs and humanoid robotics has resulted in impressive returns, with the Huafu Technology Momentum Mixed A yielding over 190% since the market rally began on September 24, 2024 [1] - The artificial intelligence ETF has also performed well, with returns exceeding 150%, and its latest scale approaching 8 billion yuan [1] Group 1: Equity Investment Performance - Huafu Fund has strategically invested in over ten thematic directions, including artificial intelligence, humanoid robotics, innovative pharmaceuticals, semiconductors, military industry, new energy, controllable nuclear fusion, and autonomous driving [1] - The Huafu IoT World Flexible Allocation Mixed A and Huafu Industrial Upgrade Flexible Allocation Mixed A have both achieved returns over 120% since the market rally began [1] Group 2: Fixed Income Investment Strategy - The fund has categorized its "fixed income+" products into different types based on volatility characteristics, setting corresponding return targets and drawdown standards [2] - The Huafu Anxin Bond A, categorized as high volatility, has yielded over 40%, while the Huafu Enhanced Return Bond has achieved over 15% since September 24, 2024 [2] - The Huafu Convertible Bond A, a convertible bond tool, has delivered returns exceeding 48% [2] Group 3: Product Innovation and Investor Engagement - Huafu Fund is exploring regular dividend distribution models to enhance investor satisfaction, with products like Huafu Rongsheng One-Year Holding Mixed and Huafu Jilu 90-Day Rolling Holding Bond having distributed dividends ten times this year [2] - The company's forward-looking strategy in equity and optimization in fixed income products have shown substantial effectiveness [2]

Core Insights - Huafu Fund's public offerings have shown impressive performance in the third quarter of 2025, with multiple equity and "fixed income+" funds ranking in the top 10% of the industry for investment management capabilities over the past year [1][2] Group 1: Equity Investment - Huafu Fund has strategically focused on artificial intelligence ETFs since 2019, becoming one of the early fund managers to invest in this sector [1] - The Huafu Technology Momentum Fund has concentrated on humanoid robotics since Q4 2023, capitalizing on market opportunities [1] - The Huafu Technology Momentum Mixed A and the artificial intelligence ETF ranked first (1/219) and fourth (4/392) respectively among similar products over the past year [1] Group 2: Fund Performance - The artificial intelligence ETF has surpassed 8 billion yuan in scale as of October 29, 2025, reflecting strong investor interest [1] - Huafu Fund has diversified its product offerings across over 10 thematic directions, including artificial intelligence, humanoid robotics, innovative pharmaceuticals, semiconductors, new energy, and autonomous driving [2] - The Huafu IoT World Flexible Allocation Mixed A and Huafu Industrial Upgrade Flexible Allocation Mixed A ranked in the top 10% of similar products in the past year, focusing on the semiconductor and electronics sectors [2] Group 3: Fixed Income Investment - Huafu Fund categorizes its "fixed income+" products based on volatility characteristics and sets corresponding return targets and drawdown standards [2] - The Huafu Anxin Bond A, positioned as a high-volatility "fixed income+" product, ranked in the top 3% (13/499) among similar products over the past year [2] - The Huafu Enhanced Return Bond, categorized as a medium-volatility "fixed income+" product, ranked in the top 9% (23/266) among similar products [2]

Core Insights - The best-performing fund managed by Chen Qi in the second quarter of 2025 is the Huafu Times Selected Mixed A Fund (016119), with a net value increase of 1.84% [1] - Chen Qi has managed two funds, with the Huafu Times Selected Mixed C Fund (016120) showing a slightly lower increase of 1.74% [2] Fund Performance - Huafu Times Selected Mixed A Fund has a scale of 0.59 billion yuan and an annualized return of -4.91% [2] - Huafu Times Selected Mixed C Fund has a scale of 0.10 billion yuan and an annualized return of -5.29% [2] Investment Strategy - During Chen Qi's tenure managing the Huafu Wulian World Flexible Allocation Mixed A Fund (001709), the cumulative return was 75.1% with an average annualized return of 10.27% [2] - The fund had 92 adjustments in heavy stocks, with a win rate of 53.26% [2] Notable Stock Adjustments - Significant stock adjustments include: - Ningde Times: Purchased in Q2 2020, sold in Q1 2023, with an estimated return of 192.52% and a company revenue growth of 696.74% [4] - East Mountain Precision: Purchased in Q2 2024, sold in Q1 2025, with an estimated return of 99.11% and a company revenue growth of 9.27% [4] Underperforming Stocks - Notable underperforming stocks include: - Unisoc Microelectronics: Purchased in Q2 2022, sold in Q3 2024, with an estimated return of -67.26% and a revenue decline of 22.6% [5] - New Yichang: Purchased in Q1 2023, still held, with an estimated return of -59.62% [3]