Core Viewpoint - The report provides an overview of the performance and investment strategy of the Ruiyuan Growth Value Mixed Securities Investment Fund, highlighting its focus on value investment in growth-oriented companies while maintaining a high level of asset allocation in equities. Fund Overview - Fund Name: Ruiyuan Growth Value Mixed Fund - Fund Manager: Ruiyuan Fund Management Co., Ltd. - Fund Custodian: China Merchants Bank Co., Ltd. - Total Fund Shares at Period End: 14,443,991,288.58 shares [1] - Investment Objective: To achieve long-term, sustainable, and stable excess returns through in-depth research and analysis of listed companies [1]. Financial Indicators and Fund Performance - Ruiyuan Growth Value Mixed A Fund Net Value Growth Rate: 5.80% for the past three months, 8.39% for the past six months, and 17.21% for the past year [3][8]. - Ruiyuan Growth Value Mixed C Fund Net Value Growth Rate: 5.70% for the past three months, 8.18% for the past six months, and 16.73% for the past year [2][8]. - The fund's performance benchmark is a composite of 60% CSI 800 Index, 20% CSI Hong Kong Stock Connect Composite Index, and 20% Shanghai Government Bond Index [1]. Investment Strategy - The fund employs a strategy of selecting stocks from companies with growth potential while controlling risks [1]. - The fund's asset allocation strategy is adjusted based on macroeconomic trends, market conditions, and industry cycles [1]. - The fund maintains a high equity allocation, with over 92% of assets in stocks during the reporting period [7]. Portfolio Composition - Total Value of Stock Assets: 17,202,390,429.11 RMB, accounting for 91.48% of total fund assets [5]. - Total Value of Bond Assets: 924,048,980.83 RMB, accounting for 4.91% of total fund assets [5]. - The fund has significant investments in sectors such as electronics, internet technology, precision manufacturing, and pharmaceuticals [7]. Market Context - The report discusses the impact of U.S.-China trade negotiations on the market, noting fluctuations in tariffs and their effects on global markets [6]. - It highlights the resilience of domestic exports despite challenges and anticipates a potential decline in exports due to demand and inventory factors [6]. - The report also mentions the acceleration of special bond issuance and infrastructure investment as potential drivers for economic growth in the second half of the year [7].