Shenzhen Envicool Technology (002837) Q2 2025 earnings summary

Executive summary

• Achieved a net profit of RMB 17.01 million for the first half of 2025, with both A and C share classes delivering a net value growth rate of 3.81%, outperforming the benchmark by over 5 percentage points.

• Fund assets under management at period end were RMB 572.18 million, with a significant decrease from the previous year due to large-scale redemptions.

• Portfolio maintained a high equity allocation (over 94%), focusing on diversified sectors, with top holdings in consumer, financial, and technology stocks.

Financial highlights

• Net asset value per share: A class at RMB 1.472, C class at RMB 1.444 as of June 30, 2025.

• Total realized income for the period: RMB 22.15 million; investment income: RMB 27.20 million; net profit: RMB 17.01 million.

• Fund experienced net outflows: total redemptions exceeded subscriptions by over RMB 277 million.

• No profit distribution during the reporting period.

Outlook and guidance

• Management expects continued economic stability in China for the second half of 2025, but notes global uncertainties such as inflation and trade policy risks.

• A-share market is expected to remain volatile with sector rotation; balanced allocation is recommended.