Core Viewpoint - The report provides an overview of the Southern Digital Economy Mixed Securities Investment Fund's performance and investment strategy for the second quarter of 2025, highlighting its focus on quality listed companies related to the digital economy and the fund's financial metrics during the reporting period [1][2]. Fund Product Overview - Fund Name: Southern Digital Economy Mixed Fund - Fund Code: 019410 - Fund Type: Contractual open-end fund - Effective Date of Fund Contract: November 14, 2023 - Total Fund Shares at Reporting Period End: 38,522,636.06 shares - Investment Objective: To achieve long-term stable appreciation of fund assets by investing in quality listed companies related to the digital economy [2]. Investment Strategy - The fund employs a combination of quantitative and qualitative analysis for stock investments, focusing on asset allocation strategies and stock investment strategies [2]. - The performance benchmark is set at 65% of the China Securities Digital Economy Theme Index return, 10% of the China Securities Hong Kong Stock Connect Comprehensive Index return, and 25% of the Shanghai Government Bond Index return [2]. Financial Indicators and Fund Performance - As of the end of the reporting period, the net asset value (NAV) of the fund's A shares was 1.0716 RMB, with a net value growth rate of 2.96%, while the C shares had an NAV of 1.0649 RMB and a growth rate of 2.86% [7]. - The fund's performance over the past three months showed a growth rate of 2.96% for A shares and 2.86% for C shares, compared to a benchmark growth rate of -0.07% [7]. Investment Portfolio Report - The fund's total assets included 36,554,994.14 RMB in stocks, representing 88.19% of the total fund assets [8]. - The fund invested 8,128,160.00 RMB in Hong Kong stocks through the Stock Connect mechanism, accounting for 19.72% of the fund's net assets [9]. Market Analysis - The market experienced fluctuations during the second quarter, initially declining due to U.S. tariff increases but stabilizing in May as trade tensions eased. The latter part of the quarter saw a focus on industry trends, particularly in innovative pharmaceuticals and artificial intelligence [6]. - The fund management emphasized the importance of identifying mid-term investment opportunities in emerging growth industries and adjusting stock holdings based on industry trends [6].