Core Insights - The report provides an overview of the performance and investment strategy of the Yongying Qiyuan Mixed Initiation Securities Investment Fund for the second quarter of 2025, highlighting its focus on long-term stable asset value growth through diversified investment strategies [1][4]. Fund Overview - Fund Name: Yongying Qiyuan Mixed Initiation Fund - Fund Manager: Yongying Fund Management Co., Ltd. - Fund Custodian: China Construction Bank Co., Ltd. - Total Fund Shares at Period End: 25,018,169.05 shares [1]. - Investment Objective: To achieve long-term stable appreciation of net asset value while controlling investment portfolio risks [1]. Performance Metrics - Net Value Growth Rate for Class A: 9.67% over the past three months, 6.72% over six months, and 22.89% over the past year [1][4]. - Net Value Growth Rate for Class C: 9.54% over the past three months, 6.47% over six months, and 22.20% over the past year [4]. - Performance Benchmark: The fund aims to outperform a benchmark composed of 60% CSI 300 Index, 20% Hang Seng Index, and 20% China Bond Composite Index [1]. Investment Strategy - The fund employs a diversified investment strategy, including macroeconomic analysis, monetary and fiscal policy research, and various asset allocation strategies such as equity, fixed income, and convertible bonds [1]. - Focus areas include deep-sea technology, with specific attention to deep-sea materials, detection, applications, and infrastructure [4]. Portfolio Composition - As of the report period, the fund's total assets included approximately 61.10% in stocks and 0.66% in bonds [6]. - The fund did not hold any investments in Hong Kong Stock Connect stocks or asset-backed securities during the reporting period [6]. Fund Share Changes - Class A shares increased from 10,432,984.64 to 11,225,640.13 during the reporting period, while Class C shares increased from 166,503.45 to 13,792,528.92 [6][7]. - Total subscriptions for Class A were 1,060,479.14 shares, and for Class C, 22,730,774.72 shares, with total redemptions of 267,823.65 and 9,104,749.25 shares respectively [6].