A seven-year track record serves as both a measure of time and a true test of investment capability. According to data from a fund evaluation institution, as of June 30, 2026, Huashang Fund's active equity funds ranked an impressive 4th out of 128 comparable firms in absolute returns over the past seven years, while its active fixed income funds claimed the top spot among 116 comparable firms. This seven-year evaluation window fully encompasses multiple market cycles and style rotations in the A-share market, during which Huashang Fund demonstrated remarkable resilience. The firm has successfully positioned itself among the top tier in both equity and fixed income arenas, earning its reputation as a "dual-track standout" in long-term investing.

This impressive "balanced excellence in both stocks and bonds" report card is by no means accidental. Behind it lies Huashang Fund's unwavering commitment to treating active management as its lifeline over the past two decades, its continuous dedication to building a "platform-based, integrated, multi-strategy" investment research system, the orderly succession of its investment culture and talent pipeline, and the ongoing iteration of its investment methodology anchored in the core principle of "deep research driving investment decisions." Together, these elements form the foundation supporting Huashang Fund's consistent long-term performance.

Data shows that as of June 30, 2026, Huashang Fund has distributed cumulative dividends of RMB 31.453 billion to its holders since inception, while generating cumulative investment returns of RMB 103.739 billion. These figures represent a remarkable "report card" delivered by Huashang Fund as it navigated through multiple market cycles with a long-term philosophy. They also reflect the tangible benefits that the firm's investment research strength has ultimately delivered to investors' accounts.

In recognition of its outstanding performance, Huashang Fund secured the top 5A rating in the "Three-Year Comprehensive Rating of Fund Managers" from TX Investment Consulting's second-quarter 2026 evaluation report. The firm also achieved the highest 5A grade in both the "Three-Year Active Equity Mixed Fund Rating" and "Three-Year Active Bond Fund Rating" sub-categories. Furthermore, at the end of 2025, Huashang Fund was honored with the industry's prestigious "Active Equity Investment Golden Bull Fund Company Award," serving as a testament to its commitment to high-quality development, prioritizing investor interests, and continuously enhancing investor satisfaction.

As the public fund industry enters a new phase of deepening reform, improving quality, and enhancing efficiency, Huashang Fund will continue to consolidate its core active management capabilities. Leveraging its extensive experience, the firm aims to identify the most dynamic companies amid economic development and industrial transformation, striving to deliver sustainable long-term and stable returns for its investors.

Data Notes: Fund company rankings and absolute return data were published by Guotai Haitong Securities in July 2026, with data as of June 30, 2026, evaluated in accordance with the "Interim Measures for the Administration of Securities Investment Fund Evaluation Business." Public fund net values are published after verification by custodians. Fund management company absolute returns refer to the asset-weighted net value growth rates of actively managed funds based on average assets under management during the period. Active equity funds include active stock open-end funds, aggressive stock mixed funds, partial equity mixed funds, balanced mixed funds, flexible mixed funds, flexible strategy mixed funds, and active mixed closed-end funds, excluding index funds, life-cycle mixed funds, partial debt mixed funds, Hong Kong stock flexible strategy mixed funds, Hong Kong stock partial equity mixed funds, Hong Kong stock aggressive stock mixed funds, and QDII funds. Active fixed income funds include pure bond funds, pure bond closed-end funds, quasi-bond funds, quasi-bond closed-end funds, partial bond funds, partial bond closed-end funds, convertible bond funds, and short-term bond funds, excluding money market funds, wealth management bond funds, amortized cost method bond funds, and index bond funds. The AAAAA rating data was published by TX Investment Consulting in July 2026, with three-year rating data as of June 30, 2026, evaluated in accordance with the "Interim Measures for the Administration of Securities Investment Fund Evaluation Business." TX's comprehensive fund manager rating is based on analysis and assessment of three major aspects: basic strength, investment management capability, and company stability (including compliance), with managers ranked from highest to lowest based on overall strength scores and divided into five grades from AAAAA to A. Active equity mixed funds cover five secondary categories: stock funds - active equity investment stock funds, mixed funds - partial equity mixed funds, mixed funds - flexible allocation mixed funds, mixed funds - balanced allocation mixed funds, and mixed funds - partial debt mixed funds. Active bond funds cover three secondary categories: bond funds - pure bond funds, bond funds - mixed bond funds, and bond funds - convertible bond funds. The "Active Equity Investment Golden Bull Fund Company Award" received by Huashang Fund was awarded by China Securities Journal in December 2025. Dividend data comes from Huashang Fund, investment return data comes from Galaxy Securities, compiled by Huashang Fund, with data as of June 30, 2026.

Risk Disclosure: The above content does not constitute investment advice. Fund managers promise to manage and use fund assets with honesty, diligence, prudence, and diligence, but do not guarantee fund profitability or minimum returns. Past performance and net value levels do not indicate future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. When purchasing funds, investors should carefully read fund contracts, prospectuses, fund product information summaries, and other fund legal documents. Market risk exists, and fund investment requires caution. Investors are advised to select products that match their risk tolerance and investment objectives.