Core Viewpoint - The announcement details the appointment of Song Shiyi as the new fund manager for the Pu Yin An Sheng Growth Power Mixed Fund (519170), effective October 25, 2025, replacing Yang Fulun. The fund's net value as of October 24, 2025, is 0.9339, reflecting a 1.87% increase from the previous day and an 11.09% rise over the past year [1]. Fund Manager Profile - Song Shiyi holds a master's degree in finance from Renmin University of China and has extensive experience in the financial sector, having worked at Shanghai Shenwan Hongyuan Securities Research Institute from July 2013 to September 2023 in various analyst roles. She joined Pu Yin An Sheng Fund Management Company in October 2023 and currently manages multiple funds [1]. Fund Performance - The following are the funds managed by Song Shiyi along with their performance metrics: - Pu Yin An Sheng ChiNext ETF Link A (012179): 0.18 billion, 50.67% return since March 13, 2024 - Pu Yin An Sheng ChiNext ETF Link C (012180): 0.30 billion, 49.96% return since March 13, 2024 - Pu Yin An Sheng CSI A500 ETF Link A (024298): 0.20 billion, 11.92% return since July 17, 2025 - Pu Yin An Sheng CSI A500 ETF Link C (024299): 0.17 billion, 11.84% return since July 17, 2025 - Pu Yin An Sheng North Securities 50 Index A (024743): 0.57 billion, 1.41% return since July 25, 2025 - Pu Yin An Sheng North Securities 50 Index C (024744): 0.30 billion, 1.33% return since July 25, 2025 - Pu Yin An Sheng CSI A500 ETF (159376): 4.26 billion, 26.81% return since December 30, 2024 - Pu Yin An Sheng ChiNext ETF (159810): 0.81 billion, 62.72% return since March 13, 2024 [1]. Stock Performance Review - The Pu Yin An Sheng ChiNext ETF managed by Song Shiyi included Huichuan Technology in Q3 2024, with an average purchase price of 1046.34. As of Q2 2025, the average price is 1481.01, yielding an estimated return of 41.54% [1].

Core Points - The report provides an overview of the performance and management of the PuYin Ansheng ChiNext ETF for the first half of 2025, highlighting its investment strategy and financial metrics [1][2][20]. Fund Overview - Fund Name: PuYin Ansheng ChiNext ETF - Fund Manager: PuYin Ansheng Fund Management Co., Ltd. - Fund Custodian: Industrial and Commercial Bank of China Ltd. - Total Fund Shares at Period End: 93,475,458.00 shares [1][2]. - Investment Objective: To closely track the benchmark index and minimize tracking deviation and error [1][2]. Financial Performance - Realized Income for the Period: -3,013,767.36 RMB - Profit for the Period: 1,881,902.90 RMB - Weighted Average Fund Share Profit for the Period: 0.0177 RMB - Fund Share Net Value Growth Rate: 1.38% - Fund Asset Net Value at Period End: 81,074,152.47 RMB - Cumulative Net Value Growth Rate: -13.27% [2][22]. Market Context - The A-share market exhibited a "dumbbell" trend in the first half of 2025, with significant performance from both dividend assets represented by banks and micro-cap stocks [20]. - The ChiNext Index, as a core growth index, is expected to perform well in the second half of 2025, driven by factors such as a shift in resident deposits towards equity assets and favorable macroeconomic conditions [22]. Investment Strategy - The fund employs a passive investment strategy that fully replicates the ChiNext Index, aiming to control tracking error and provide long-term returns from core leading assets in the ChiNext market [20][22]. - The fund's investment portfolio is constructed to minimize tracking deviation from the benchmark index, allowing investors to benefit from the growth of China's new economy [20][22]. Management Report - PuYin Ansheng Fund Management Co., Ltd. has been managing the fund in compliance with relevant laws and regulations, ensuring the interests of fund shareholders are prioritized [15][19]. - The management team has established a fair trading execution system to ensure equitable treatment of all fund portfolios [16].