AI基金泓德新能源产业混合发起式A（018029）披露2025年半年报，上半年基金利润46.87万元，加权平均基金份额本期利润0.0444元。报告期内，基金净值 增长率为6.4%，截至上半年末，基金规模为775.64万元。 该基金属于偏股混合型基金，长期投资于先进制造股票。截至9月3日，单位净值为0.858元。基金经理是孙泽宇，目前管理4只基金。其中，截至9月3日，泓 德新能源产业混合发起式A近一年复权单位净值增长率最高，达50.93%；泓德泓益量化混合A最低，为33.99%。 基金管理人在中期报告中表示，上半年经济运行总体平稳，在以旧换新政策带动消费、专项债靠前发力带动投资、抢出口和抢转口带动出口的支撑下，GDP 实现了5.3%的同比增速，在复杂的外部环境下展现较强韧性，高质量发展取得积极进展，为完成全年目标打下了较好的基础。但是出口和消费作为上半年 经济较强表现的主要拉动因素，其在下半年面临一定的不确定性，政策端是否择机进行有效刺激以应对下半年经济动能不足，有待跟踪。 截至9月3日，泓德新能源产业混合发起式A近三个月复权单位净值增长率为27.97%，位于同类可比基金39/171；近半年复权单位净值增长率为 ...

Core Viewpoint - The AI Fund Hongde New Energy Industry Mixed Initiation A (018029) reported a profit of 416,800 yuan for Q2 2025, with a weighted average profit per fund share of 0.0391 yuan, and a net asset value growth rate of 5.67% during the reporting period [2]. Fund Performance - As of the end of Q2 2025, the fund's scale was 7.7564 million yuan [14]. - The fund's unit net value as of July 17 was 0.748 yuan [2]. - The fund achieved a one-year cumulative net value growth rate of 29.61%, ranking 47 out of 166 comparable funds [2]. - Over the past three months, the fund's net value growth rate was 16.83%, ranking 30 out of 171 comparable funds [2]. - The fund's six-month net value growth rate was 13.67%, ranking 51 out of 171 comparable funds [2]. Investment Strategy - The fund adopts a quantitative strategy, constructing models for stock selection based on various fundamental and market perspectives, while managing risks to achieve stable excess returns relative to the benchmark index [2]. Portfolio Composition - As of June 27, the fund's average stock position since inception was 89.22%, compared to the industry average of 87.11% [13]. - The fund's maximum stock position reached 93.26% at the end of Q1 2024, while the minimum was 80.25% at the end of 2023 [13]. - The top ten holdings of the fund include Ningde Times, Sunshine Power, Longi Green Energy, China Nuclear Power, Huayou Cobalt, Three Gorges Energy, China General Nuclear Power, Xinde New Materials, Jixin Technology, and Shenghui Technology [17]. Risk Metrics - The fund's Sharpe ratio since inception is -0.221 [7]. - The maximum drawdown since inception is 45.39%, with the largest quarterly drawdown occurring in Q3 2023 at 21.26% [10].