招商中证银行指数证券投资基金 2025 年中期报告 基金管理人：招商基金管理有限公司 基金托管人：中信银行股份有限公司 送出日期：2025 年 8 月 28 日 招商中证银行指数证券投资基金 2025 年中期报告 基金管理人的董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。本中期报告已经三分之二 以上独立董事签字同意，并由董事长签发。 基金托管人中信银行股份有限公司根据本基金合同规定，于 2025 年 8 月 27 日复核了本 报告中的财务指标、净值表现、利润分配情况、财务会计报告、投资组合报告等内容，保证 复核内容不存在虚假记载、误导性陈述或者重大遗漏。 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定 盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅 读本基金的招募说明书及其更新。 本报告中财务资料未经审计。 本报告期自 2025 年 1 月 1 日起至 6 月 30 日止。 第 1 页 共 58 页 招商中证银行指数证券投资基金 2025 年中期报告 第 2 页 共 ...

Core Viewpoint - The report provides an overview of the performance and management of the China Merchants Index Bank Securities Investment Fund for the second quarter of 2025, highlighting its investment strategy, financial performance, and compliance with regulations. Fund Product Overview - The fund is a passive index fund that aims to track the China Securities Bank Index, with a target tracking error of no more than 0.35% and an annual tracking error of no more than 4% [2][3]. - The fund employs a full replication method to construct its stock portfolio based on the composition and weight of the index constituents [2][3]. - The fund's performance benchmark is a combination of 95% of the China Securities Bank Index return and 5% of the benchmark interest rate for RMB demand deposits [2][3]. Financial Indicators and Fund Net Value Performance - For the reporting period, the A class shares achieved a net value growth rate of 11.58%, while the benchmark growth rate was 10.39% [8]. - The C class shares recorded a net value growth rate of 11.56%, also against a benchmark of 10.39% [8]. - The E class shares had a net value growth rate of 11.51% during the same period [8]. - The fund's overall performance over the past three months, six months, and one year shows significant growth, with the one-year growth rate reaching 36.00% for A class shares [3][8]. Management Report - The fund manager emphasizes adherence to legal regulations and internal policies, ensuring fair investment opportunities across all portfolios [6][7]. - The fund's investment strategy includes strict risk management and compliance with investment guidelines, with no significant abnormal trading activities reported during the period [7][8]. - The fund maintained a stable operation with a portfolio position of approximately 94.5% during the reporting period, successfully tracking the benchmark [7][8]. Investment Portfolio Report - The fund's total assets include approximately 1.36 billion RMB in stocks, accounting for 89.52% of the total assets, and a small portion in bonds [9][10]. - The fund's top ten securities primarily consist of major banks, reflecting its focus on the banking sector [13][15]. - The fund did not hold any restricted stocks or convertible bonds during the reporting period [12][16].