Core Viewpoint - The report highlights the performance and investment strategy of the Great Wall Healthcare Mixed Securities Investment Fund for the second quarter of 2025, emphasizing its focus on the healthcare industry and the fund's net value growth during the period [1][10]. Fund Overview - Fund Name: Great Wall Healthcare Mixed Fund - Fund Code: 000339 - Fund Type: Contractual open-end fund - Total Fund Shares at Period End: 117,458,484.44 shares - Investment Objective: Focus on listed companies in the healthcare industry, aiming for performance that exceeds the benchmark while controlling risks [1][2]. Investment Strategy - The fund employs a mixed investment strategy, adjusting asset allocation based on market conditions. It combines top-down and bottom-up approaches to analyze macroeconomic factors and the fundamentals of investable stocks [2][3]. - The healthcare sector includes various sub-industries such as pharmaceuticals, traditional Chinese medicine, biological products, medical services, and medical devices. The fund selects outstanding companies from these sub-industries for its stock portfolio [2][3]. Performance Benchmark - The performance benchmark is composed of 90% of the CSI Pharmaceutical and Health Index return and 10% of the China Bond Composite Wealth Index return [3]. Risk and Return Characteristics - The fund is characterized by a long-term average risk and expected return that is lower than equity funds but higher than bond and money market funds, categorizing it as a high-risk, high-return product [3]. Financial Performance - The net value growth rate of the Great Wall Healthcare Mixed Fund A for the past three months was 17.49%, while the benchmark return was 1.41% [10]. - Over the past six months, the fund's growth rate was 2.23%, compared to a benchmark return of 32.19% [10]. - The fund's performance over the past year showed a net value growth rate of 35.19%, with a benchmark return of 10.13% [10]. Investment Composition - As of the report period, the fund's total assets included approximately 265,126,026.09 yuan in stocks, accounting for 71.42% of the total fund assets [11]. - The fund's investment strategy mandates that at least 80% of its non-cash assets be invested in stocks of listed companies in the healthcare sector [6]. Fund Management - The fund manager, Great Wall Fund Management Co., Ltd., has adhered to relevant laws and regulations, ensuring the fair treatment of different investors and maintaining a disciplined investment approach [7][9].

Core Insights - The majority of stock and mixed funds achieved positive returns, with 91.29% reporting gains on July 8, 2023, and 41 funds exceeding a 5% return [1][2] - The Shanghai Composite Index rose by 0.70% to close at 3497.48 points, while the Shenzhen Component Index increased by 1.47%, and the ChiNext Index rose by 2.39% [1] - The top-performing sectors included telecommunications, electrical equipment, and electronics, with respective increases of 2.89%, 2.30%, and 2.27% [1] Fund Performance - The average net value growth rate for stock and mixed funds on July 8 was 0.99%, with 121 funds experiencing a net value decline of over 1% [1][2] - The fund with the highest net value growth rate was Yongying Technology Select Mixed Fund C, achieving a 6.19% increase, followed closely by Yongying Technology Select Mixed Fund A and Xinao Performance Driven Mixed Fund A, both at 6.18% and 6.03% respectively [2][3] - Among the funds with a net value growth rate exceeding 5%, 22 were equity funds, 11 were index equity funds, and 4 were flexible allocation funds [2] Decline in Fund Value - A total of 121 funds reported a net value decline, with the largest drop recorded by Great Wall Medical Care Mixed Fund C at -2.47% [2][4] - Other funds with significant declines included Great Wall Medical Care Mixed Fund A (-2.46%), Red Soil Innovation Medical Care Stock Fund (-2.43%), and Great Wall Health Mixed Fund C (-2.42%) [4][5] - The data indicates a concentration of declines in healthcare-related funds, particularly those managed by Great Wall Fund [4][5]