Core Viewpoint - The report provides an overview of the performance and management of the Yongying Money Market Fund for the second quarter of 2025, highlighting its investment strategies, financial indicators, and compliance with regulations [1][5]. Fund Product Overview - Fund Name: Yongying Money Market Fund - Fund Code: 000533 - Fund Type: Contractual open-end fund - Effective Date of Fund Contract: February 27, 2014 - Total Fund Shares at Reporting Period End: 109,081,854,038.44 shares - Investment Objective: To pursue higher returns than the benchmark while maintaining safety and high liquidity [2]. - Performance Benchmark: 7-day notice deposit rate (after tax) [2]. - Risk-Return Characteristics: The fund is classified as a low-risk investment, with expected returns lower than equity, mixed, and bond funds [2]. Financial Indicators and Fund Performance - The net asset value of Yongying Money A at the end of the reporting period was 1.0000 yuan, with a net yield of 0.3118% during the period, compared to a benchmark yield of 0.3366% [8][12]. - The fund's realized income includes interest income, investment income, and other income, with no fair value change income due to the use of amortized cost accounting [3][8]. Investment Strategy and Portfolio - The fund primarily invested in interbank deposits, interbank certificates of deposit, repos, and high-grade short-term financing bonds during the reporting period [7]. - The average remaining maturity of the investment portfolio was 104 days, with a maximum of 109 days and a minimum of 77 days, complying with the fund's contract stipulation of not exceeding 120 days [9][10]. Management Report - The fund management adhered to the Securities Investment Fund Law and related regulations, ensuring compliance and fair treatment of all investment portfolios [5][6]. - The management team includes experienced professionals, with the lead manager having 10 years of experience in the securities industry [4]. Fund Share Changes - Total subscription during the reporting period was 5,311,735,514.49 yuan, while total redemptions amounted to 5,505,308,571.10 yuan, resulting in a total fund share of 1,730,555,897.84 shares at the end of the period [12].