Core Insights - In the first half of the year, 11 funds under Caitong Fund experienced a decline of over 15% [1] - The top three funds with the largest declines were Caitong Craft Selection One-Year Holding Period Mixed C, Caitong Fuxin Open Mixed, and Caitong Craft Selection One-Year Holding Period Mixed A, with declines of 17.79%, 17.69%, and 17.46% respectively [1] - The fund with the smallest decline, Caitong Growth Selection Mixed A, had a decline of 15.99%, while the remaining funds all had declines exceeding 16% [1] Fund Holdings - The major holdings of these funds primarily consisted of technology growth stocks, particularly in big data and chips, with significant cross-holdings [1] - The top ten holdings of Caitong Craft Selection One-Year Holding Period included Haiguang Information, Tencent Holdings, Cambricon, and others [1] - Caitong Fuxin Open Mixed's top ten holdings included Aofei Data, Haiguang Information, and others [1] - Caitong Growth Selection Mixed A's top ten holdings also featured Aofei Data, Haiguang Information, and others [1] Fund Management - The fund manager for these funds is Jin Zicai, who has over 10 years of experience in public fund management and currently manages a total fund size of 4.6 billion yuan [2] - Despite the poor performance in the first half of 2025, most of the funds, except for those established in 2022 and 2024, have achieved positive cumulative returns [2] - Notably, the Caitong Prosperity Selection One-Year Holding Period Mixed A/C, established in a declining market year, reported cumulative returns of 19.68% and 17.84% respectively as of July 3 [2]