Group 1 - The core point of the news is that Yongyou Network's stock price dropped by 5.05% to 15.42 CNY per share, with a trading volume of 1.24 billion CNY and a turnover rate of 2.30%, resulting in a total market capitalization of 52.69 billion CNY [1] - Yongyou Network Technology Co., Ltd. is based in Haidian District, Beijing, and was established on January 18, 1995, with its listing date on May 18, 2001. The company focuses on providing enterprise cloud services and solutions, with its main business revenue composition being: technical services and training (61.11%), product licensing (31.41%), and others (4.50%) [1] Group 2 - From the perspective of major fund holdings, the He Xu Zhi Yuan Fund has one fund heavily invested in Yongyou Network. The He Xu Zhi Yuan Financial Technology Index (LOF) A (168701) reduced its holdings by 31,000 shares in the second quarter, holding a total of 170,300 shares, which represents 2.14% of the fund's net value, ranking as the ninth largest holding. The estimated floating loss today is approximately 139,600 CNY [2] - The He Xu Zhi Yuan Financial Technology Index (LOF) A (168701) was established on April 3, 2020, with a latest scale of 57.81 million CNY. Year-to-date returns are 29.7%, ranking 1430 out of 4222 in its category; the one-year return is 99.22%, ranking 275 out of 3781; and the return since inception is 38.16% [2]

Core Viewpoint - The AI Fund He Xu Zhi Yuan Consumer Theme Stock Initiation A (007287) reported a profit of 19,900 yuan in Q1 2025, with a net asset value growth rate of 1.47% during the period [3][16]. Fund Performance - As of April 24, the fund's unit net value was 1.119 yuan, with a three-month net value growth rate of 3.74%, ranking 31 out of 46 comparable funds [4][3]. - Over the past year, the fund's net value growth rate was 0.18%, ranking 20 out of 46, while the three-year growth rate was 7.59%, ranking 6 out of 43 [4][3]. Fund Management Strategy - The fund manager, Yang Zhiyong, indicated a strategy focused on aggressive investment in the consumer sector, while also participating in industrial machinery and integrated circuits [3]. - The fund's average stock position over the past three years was 66.86%, compared to the industry average of 87.29% [15]. Risk Metrics - The fund's Sharpe ratio over the past three years was 0.4152, ranking 7 out of 42 comparable funds [10]. - The maximum drawdown over the past three years was 22.19%, with the largest single-quarter drawdown occurring in Q1 2022 at 24.08% [12]. Fund Holdings - As of Q1 2025, the top ten holdings of the fund included BYD, Luzhou Laojiao, Shanxi Fenjiu, Wens Foodstuff Group, Seres, Midea Group, China Duty Free Group, Wuliangye, Sanhua Intelligent Control, and Kweichow Moutai [19].