AI基金银华医疗健康量化股票发起式A（005237）披露2025年半年报，上半年基金利润145.6万元，加权平均基金份额本期利润0.0746元。报告期内，基金净 值增长率为6.89%，截至上半年末，基金规模为2277.19万元。 该基金属于标准股票型基金，长期投资于医药医疗股票。截至9月3日，单位净值为1.401元。基金经理是马君和杨腾。 基金管理人在中期报告中表示，我们看好创新药产业链的发展前景。从业绩表现来看，创新药企业 2025 年以来产品管线出海加速，授权价格也有逐步上涨 的态势，从首付款到里程碑付款增厚企业业绩，后续产品上市后在海外销售或有爆发式增长，创新药在整个医药行业中脱颖而出，成为内部表现最为强劲的 子板块。 截至9月3日，银华医疗健康量化股票发起式A近三个月复权单位净值增长率为16.89%，位于同类可比基金43/54；近半年复权单位净值增长率为25.56%，位 于同类可比基金44/54；近一年复权单位净值增长率为39.16%，位于同类可比基金44/53；近三年复权单位净值增长率为3.43%，位于同类可比基金31/47。 从基金股票资产的估值角度来看，以最新中报数据计算，2025年6月30日， ...

Core Viewpoint - The AI Fund Yinhua Medical Health Quantitative Stock Initiation A (005237) reported a profit of 704,200 yuan in Q2 2025, with a net value growth rate of 3.25% for the period, indicating a positive performance in the medical and healthcare sector [2]. Fund Performance - As of the end of Q2 2025, the fund's scale was 22.77 million yuan [13]. - The fund's unit net value as of July 17 was 1.253 yuan [2]. - The fund's performance over various time frames includes: - 3-month net value growth rate: 12.97%, ranking 47 out of 54 comparable funds [2]. - 6-month net value growth rate: 18.70%, ranking 47 out of 54 comparable funds [2]. - 1-year net value growth rate: 19.99%, ranking 45 out of 53 comparable funds [2]. - 3-year net value growth rate: -15.15%, ranking 29 out of 46 comparable funds [2]. Risk Metrics - The fund's Sharpe ratio over the past three years was -0.1083, ranking 30 out of 46 comparable funds [7]. - The maximum drawdown over the past three years was 39.37%, ranking 24 out of 46 comparable funds, with the largest single-quarter drawdown occurring in Q1 2021 at 25.15% [8]. Investment Strategy - The fund focuses on long-term investments in pharmaceutical and healthcare stocks, with a strong emphasis on the innovative drug industry [2]. - The average stock position over the past three years was 89.19%, with a peak of 92.5% at the end of H1 2025 and a low of 85.16% at the end of H1 2024 [11]. Top Holdings - As of the end of Q2 2025, the fund's top ten holdings included: - Heng Rui Medicine - WuXi AppTec - Mindray Medical - BeiGene - East China Pharmaceutical - Kelun Pharmaceutical - Baillie Gifford - Betta Pharmaceuticals - Zai Lab - Kailai Ying [16].