Core Insights - The index business has seen significant growth, with Yongying Fund achieving a total ETF management scale of 26.8 billion yuan as of October 23, 2025, representing a more than fourfold increase since the beginning of the year [1][11] - Yongying Fund has successfully launched various ETFs, including the first bond ETF and innovative satellite and general aviation ETFs, with the gold stock ETF surpassing 13 billion yuan, becoming the first in China to reach this milestone [1][11] - In the index enhancement sector, Yongying Fund's performance is notable, with the Yongying Shanghai Stock Exchange Sci-Tech Innovation Board 100 Index Enhanced A yielding a 73.06% return over the past year, outperforming its benchmark by 12.08% [1][12] Product Strategy - Yongying Fund's index enhancement strategy emphasizes meticulous operations, focusing on incremental gains for investors. The team employs methods such as new stock subscriptions and stock index futures to enhance returns while controlling risks [2] - The investment operation of Yongying's enhancement products relies on a unique quantitative research system, integrating fundamental logic and AI technology to create a multi-strategy framework that is verifiable and adaptable [2] Technological Empowerment - The success of Yongying Fund's index enhancement business is attributed to its robust technological capabilities, having developed five leading research systems, including the Qianxing Fixed Income Research System and the Mingjing Risk Management System, both of which have received awards from the central bank [3][13] - The company has made significant investments in AI computing power and large models like DeepSeek, enhancing its quantitative investment capabilities in terms of market opportunities and fund tracking [3] Future Outlook - Yongying Fund aims to continuously improve its product offerings and research capabilities, aspiring to create a comprehensive "product shelf" that provides suitable tools or combinations for investors in any market environment [4] - The company has established 13 ETF products covering various themes and indices and has filed for additional index products, including those focused on AI, internet sectors, and chemical industries, to enrich its product portfolio for future business expansion [4]