Group 1 - Huaneng International's stock increased by 5.95%, reaching 8.19 CNY per share, with a trading volume of 468 million CNY and a turnover rate of 0.53%, resulting in a total market capitalization of 128.57 billion CNY [1] - The company, established on June 30, 1994, and listed on December 6, 2001, primarily engages in electricity and heat sales, port services, and transportation services, with electricity and heat revenue accounting for 96.29% of total revenue [1] - Other revenue sources include 2.47% from miscellaneous income, 0.58% from leasing, 0.52% from the sale of fly ash and fuels, 0.09% from port income, and 0.04% from transportation income [1] Group 2 - Yongying Fund holds Huaneng International as a significant investment, with the Yongying Hexiang Mixed Fund A (014598) owning 301,200 shares, representing 2.52% of the fund's net value, making it the fourth-largest holding [2] - The fund has achieved a year-to-date return of 12.43%, ranking 5549 out of 8155 in its category, and a one-year return of 15.21%, ranking 4749 out of 8031 [2] - Since its inception on December 22, 2021, the fund has generated a total return of 27.96% [2]

Group 1 - The report covers the performance of the Yongying Hexiang Mixed Initiated Securities Investment Fund for the second quarter of 2025, highlighting the fund's management and investment strategies [1][2][3] - The fund aims to achieve investment returns that exceed its performance benchmark while controlling investment portfolio risks [2][3] - The total fund shares at the end of the reporting period were 90,403,587.55 shares, with specific strategies including asset allocation, stock investment, and bond investment [2][3] Group 2 - The fund's net asset value (NAV) for the A share class was 1.1929 RMB, with a net value growth rate of -1.62% during the reporting period, while the benchmark return was 1.30% [12] - For the C share class, the NAV was 1.1769 RMB, with a net value growth rate of -1.68%, also against a benchmark return of 1.30% [12] - The fund's investment portfolio included 35.19% in stocks and 43.82% in bonds, with a fair value of 40,955,680.56 RMB in stocks and 50,998,079.58 RMB in bonds [13] Group 3 - The fund's management adhered to a strict fair trading system, ensuring no significant violations occurred during the reporting period [10][9] - The macroeconomic environment during the second quarter showed stable overall economic performance in China, with industrial production remaining resilient and infrastructure investment at high levels [10][11] - The report indicates that the fund maintained a high allocation to convertible bonds and made strategic adjustments to its equity positions towards the end of June [12]