Core Viewpoint - The event themed "Technology Rising, High-Quality Development" initiated by Dacheng Fund aims to enhance investor education and promote rational long-term investment decisions in the technology sector, which is seen as a long-term growth area for new productive forces [1] Group 1: ETF Investment Insights - Dacheng Fund's Executive Director of Index and Futures Investment Department, Sun Yu, highlighted the growing importance of passive investment, noting that in 2023, the scale of passive investment in the U.S. surpassed that of active investment for the first time, with domestic ETF scale exceeding 5 trillion [2] - Sun Yu emphasized the need for matching different market characteristics with appropriate strategies, suggesting that during the market turbulence from 2021 to 2023, a "barbell" strategy was favored, while currently, the technology sector presents clear opportunities for high growth [2] Group 2: AI Investment Opportunities - Fund Manager Du Cong provided insights on AI investment opportunities, indicating that North America's major cloud service providers are investing billions annually in AI infrastructure, although revenue remains low as they are still in the investment phase [3] - Du Cong noted that the potential of generative AI is driving an increase in investment cash flow relative to operational cash flow, suggesting that AI remains a significant area for capital market participation despite potential short-term adjustments [3] Group 3: Dacheng Fund's Investment Philosophy - Dacheng Fund has established a competitive advantage based on long-term investment capabilities, with a strong reputation for active equity investment, particularly in the technology sector, which has seen significant growth in 2025 [4] - The fund is expanding its investment team to provide better asset management services and is enhancing its passive investment product offerings to support investors in index investments [4]

Core Viewpoint - Da Cheng Fund has launched the Da Cheng Zhi Zhen Return Fund, which is a mixed equity fund managed by Du Cong, aiming for long-term growth and performance exceeding its benchmark [1][2]. Fund Details - The fund is open for public subscription from June 3, 2025, to June 23, 2025, with a minimum total subscription of 200 million shares [2]. - The investment objective focuses on companies with long-term growth potential, targeting a benchmark composed of 70% CSI 800 Index, 10% Hang Seng Index (adjusted for valuation), and 20% China Bond Composite Index [2]. - The fund will invest 60%-95% of its assets in stocks and depositary receipts, with a maximum of 50% in Hong Kong Stock Connect stocks [2]. Fee Structure - The fund employs a floating fee structure with three tiers: 1.2% for holdings under 365 days, 1.5% for annualized excess returns over 6%, and 0.6% for annualized excess returns at -3% or below [4]. Fund Manager Profile - Du Cong, the proposed fund manager, has a master's degree in economics from Fudan University and 10 years of experience in the securities industry [5][6]. - As of April 2024, Du Cong manages two funds with a total scale exceeding 3 billion yuan [6]. Performance Metrics - Under Du Cong's management, the Da Cheng Growth Progress Fund achieved a return of 19.25% since April 2024, outperforming its benchmark by over 10 percentage points [7][8]. - The Da Cheng Technology Consumption Fund, managed since December 2024, reported a return of -1.94% during its tenure, with a slight gain of 1.21% this year [8]. Holdings - Major holdings in the funds include Tencent Holdings, Alibaba, and SMIC [9].