Core Viewpoint - The AI Fund Invesco Great Wall Reform Opportunity Mixed A Class (001535) reported a profit of 22.4984 million yuan for the first half of 2025, with a weighted average profit per fund share of 0.2283 yuan. The fund's net value growth rate was 15.04%, and its scale reached 149 million yuan by the end of the first half of the year [2][33]. Fund Performance - As of September 3, the fund's unit net value was 1.788 yuan. Over the past year, the fund has achieved positive returns across all nine funds managed by the fund manager Yang Ruiwen, with the highest growth rate of 77.34% for the Invesco Great Wall Electronic Information Industry Stock A Class and the lowest at 58.42% for the Invesco Great Wall Preferred Mixed Fund [2][5]. - The fund's net value growth rates over different periods are as follows: 17.40% over the last three months, 13.88% over the last six months, 67.89% over the last year, and 35.56% over the last three years, ranking 453/880, 547/880, 119/880, and 67/872 respectively among comparable funds [5][29]. Valuation Metrics - As of June 30, 2025, the fund's weighted price-to-earnings (P/E) ratio was approximately 70.18 times, significantly higher than the industry average of 15.75 times. The weighted price-to-book (P/B) ratio was about 3.58 times, compared to the average of 2.52 times, and the weighted price-to-sales (P/S) ratio was around 2.82 times, against an average of 2.16 times [10][18]. Growth Metrics - For the first half of 2025, the weighted revenue growth rate of the stocks held by the fund was 0.15%, while the weighted net profit growth rate was -0.16%. The weighted annualized return on equity was 0.05% [18][22]. Fund Composition and Holdings - As of June 30, 2025, the fund had a total of 2,645 holders, with a total of 94.5875 million shares held. Management employees held 12.76% of the shares, institutions held 14.37%, and individual investors accounted for 85.63% [36]. - The fund's top ten holdings included companies such as Ninebot, Siwei Technology, Ruichuang Micro-Nano, and Stone Technology [41].