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Guotai Junan Securities (601211) investor relations material
Guotai Junan Securities H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
The fund aims to closely track the Hang Seng China Central Enterprises Index via investment in the target ETF, with a focus on minimizing tracking deviation and error within 0.35% daily and 4% annualized.
The reporting period covers March 4, 2025, to June 30, 2025, marking the fund's initial months of operation.
Both A and C share classes achieved net value growth rates of 4.70% and 4.64%, respectively, closely matching the benchmark's 4.80%.
Financial highlights
Net profit for the period was RMB 6,775,654.05, with realized income of RMB 1,663,664.38 and fair value gains of RMB 5,111,989.67.
Period-end net assets totaled RMB 124,003,187.08, with A and C share classes at RMB 47,780,723.02 and RMB 76,222,464.06, respectively.
The fund distributed profits in July and August 2025, totaling over RMB 1.7 million across both share classes.
Outlook and guidance
The second half of 2025 is expected to focus on US tariff policy impacts, with anticipated Fed rate cuts and a favorable environment for Hong Kong equities.
Domestic economic growth remains subdued, but the fund sees value in high-dividend, low-volatility assets, with the index's dividend yield above 5%.
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