Core Insights - The net asset of Hengtai Cash Management Fund (970183) as of June 30, 2025, is 465 million yuan, reflecting a decrease of 7.41% compared to the previous period [1] - The fund manager, Zhang Xiuchao, has a strong background in finance and credit analysis, having previously worked as a credit researcher and auditor [1] Fund Performance - Recent changes in fund share scale indicate no subscriptions and minimal redemptions, with total shares at 0.02 billion and net assets at 20 million yuan as of June 30, 2025, showing a net asset change rate of -24.80% [2] - The fund's performance over the last three months yielded a return of 0.26%, while the one-year return stands at 1.29%, and the cumulative return since inception is 4.01% [2] Company Background - Hengtai Securities Co., Ltd. was established in December 1998 and is based in Hohhot, primarily engaged in capital market services [2]