In the first half of 2026, driven by multiple factors such as the explosion of AI computing power, accelerated domestic substitution, and the rise of semiconductor equipment prosperity, the A-share market has emerged from its extreme structural trend.

The main indices showed significant differentiation: the Sci Tech Innovation 50 Index rose 64.25% in the first half of the year, while the ChiNext Index rose 35.58%; During the same period, the Shanghai Composite Index only rose by 3.16%, while the Shanghai and Shenzhen 300 Index rose by 7.55%. Looking at different industries, the electronics sector led the way with an increase of 86.29%, while the communication sector rose by 73.59%, becoming the strongest main line in the market.

Data source: Wind, data statistics range from January 1, 2026 to June 30, 2026. China's stock market has a relatively short operating time, and past performance does not represent future performance.

In such a structured market, active equity funds have shown overall good profitability. Among them, the proactive equity team of Guotai Fund has delivered an impressive performance report with solid investment research capabilities and forward-looking layout,Seven active equity funds under its umbrella doubled their net asset value in the first half of the year:

Data source: Wind, data as of June 30, 2026, fund performance reviewed by the custodian bank. The operation time of funds in our country is relatively short, and past performance does not represent future performance.

Meanwhile, over time, the proactive equity team of Guotai Fund has also withstood scrutiny. As of June 30, 2026,Guotai Fund has launched 5 "Ten fold Funds":

Data source: Wind, data as of June 30, 2026, fund performance reviewed by the custodian bank. The operation time of funds in our country is relatively short, and past performance does not represent future performance.

Among them, the earliest established Guotai Golden Eagle Growth has been operating for over 24 years since its establishment in May 2002, creating long-term returns of over 20 times for investors. This classic product, born in the budding era of public funds in China, is still a witness to the strength of active equity running to this day.

At different time dimensions, Guotai Fund's active equity products have also demonstrated sustained competitiveness.

For Example，The Guotai Science and Technology Innovation Board has been established for two years, ranking in the top 3% of its peers in the past 1 and 2 years. Guotai Advantage Industry A has been ranked in the top 5% of its peers in the past 1 and 3 years. Guotai Minyi A has been ranked 6th in its peers in the past 5 years, and Guotai Juxin Value A has been ranked 7th in its peers in the past 12 years... In addition, Guotai New Economy has achieved three major awards, and Guotai Jinpeng Blue Chip Value has won the "Five Year Open Equity Continuous Excellence Golden Bull Fund" award.

The sustained performance ultimately needs to return to the support of the system. In recent years, Guotai Fund has continued to promote the construction of investment research platforms. Through an integrated investment research mechanism and a systematic talent training system, it has built an open and collaborative investment research ecosystem, allowing fund managers to continuously cultivate and iterate in their respective fields of expertise.

From the layout of one product to the success of multiple products; From short-term sharpness to the thickness of crossing bull and bear markets, the proactive equity team of Guotai Fund has proven with their strength that in-depth research and long-term persistence will ultimately be rewarded by the market.

Data source: The Guotai Science and Technology Innovation Board has launched a two-year fixed fund of the same type as Galaxy Securities' equity oriented fund (with a stock upper and lower limit of 60% -95%) (Class A), with specific rankings of 46/1941 and 26/1771. Guotai Advantage Industry A refers to Galaxy Securities' equity oriented funds (with upper and lower limits of 60% -95%) (Class A), with specific rankings of 52/1941 and 72/1564. Guotai Minyi A refers to Galaxy Securities Flexible Allocation Fund (benchmark stock ratio of 30% -60%) (Class A), with a specific ranking of 6/391. Guotai Juxin Value Class A refers to Galaxy Securities Flexible Allocation Fund (with a benchmark stock ratio of 60% -100%) (Class A), with a specific ranking of 7/21. The "Three Major Awards Grand Slam" of Guotai New Economy refers to the fact that in 2018, Guotai New Economy won the "Three Year Open ended Hybrid Continuous Excellence Golden Bull Fund" from China Securities Journal, the "One Year Balanced Hybrid Star Fund Award" from Securities Times, and the "Three Year Flexible Allocation Gold Fund Award" from Shanghai Securities Journal. However, the fund has not won any related awards in the past two years. The Guotai Jinpeng Blue Chip Value Award will be evaluated by China Securities Journal in December 2025.

The products mentioned for performance from 2021/establishment to 2025 are listed as follows:

Guotai New Economy Flexible Allocation Hybrid A (established on September 16, 2014, with a performance benchmark of 50% x Shanghai and Shenzhen 300 Index yield+50% x CSI Composite Bond Index yield, managed by Peng Lingzhi since December 1, 2015): 4.82%/0.30%, -27.38%/-9.56%, -9.41%/-3.41%, 14.81%/11.86%, 35.35%/9.19%;

Guotai Advantage Industry Hybrid A (established on May 17, 2018, with a performance benchmark of 80% x Shanghai and Shenzhen 300 Index+20% x China Bond Composite Index returns, managed by Peng Lingzhi since May 17, 2018): 8.42%/-3.52%, -26.80%/-17.37%, -5.56%/-8.71%, 14.39%/13.08%, 37.94%/13.76%;

Guotai Growth Value Hybrid A (established on March 23, 2021, with a performance benchmark of 75% * Shanghai and Shenzhen 300 Index yield+5% * China Securities Hong Kong Stock Connect Composite Index (RMB) yield+20% * China Bond Composite Index yield, managed by Peng Lingzhi since March 23, 2021): 1.57%/-2.25%, -26.96%/-16.74%, -10.00%/-8.75%, 14.75%/13.35%, 38.03%/14.24%;

Guotai Sci Tech Innovation Board's two-year regular open hybrid securities investment fund (established on February 18, 2022, with a performance benchmark of 70% * SSE Sci Tech Innovation Board 50 Component Index yield+25% * China Bond Composite Index yield+5% * China Securities Hong Kong Stock Connect Composite Index (RMB) yield, managed by Peng Lingzhi since February 25, 2025): 2.22%/-14.79%, -14.55%/-7.76%, -2.91%/15.07%, 60.83%/26.08%;

Guotai Semiconductor Manufacturing Select Hybrid Initiator A (established on October 14, 2025, with a performance benchmark of 70% * CSI Semiconductor Material Index+20% * China Bond New Comprehensive Full Price (Total Value)+5% * Current Deposit Interest Rate (After Tax)+5% * CSI Hong Kong Stock Connect Composite Index, managed by Peng Lingzhi since October 14, 2025): 3.00%/-2.37%;

Guotai Juxin Quantitative Stock Selection Mixed Launch A (established on September 2, 2025, with a performance benchmark of 75% * Shanghai and Shenzhen 300 Index yield+20% * bank current deposit interest rate (after tax)+5% * China Securities Hong Kong Stock Connect Composite Index yield (adjusted by valuation exchange rate), managed by Wu Kefan since September 2, 2025): 16.74%/1.79%;

Guotai Golden Deer Hybrid Securities Investment Fund (established on January 15, 2019, with a performance benchmark of 80% x Shanghai and Shenzhen 300 Index+20% x China Bond Composite Index returns, managed by Zhao Dazhen since June 2, 2022): 9.28%/-3.52%, -16.77%/-17.37%, 1.15%/-8.71%, -12.45%/13.08%, 40.11%/13.76%;

Guotai Golden Eagle Growth Flexible Allocation Hybrid Securities Investment Fund (established on May 8, 2002, with a performance benchmark of 80% * Shanghai and Shenzhen 300 Index yield+20% * China Securities Composite Bond Index yield, managed by Wang Zhaoxiang since April 8, 2026): 19.33%/-2.94%, -15.85%/-16.91%, -12.05%/-8.22%, -11.30%/13.70%, 48.11%/14.28%;

Cathay Pacific Golden Dragon Industry Selected Securities Investment Fund (establishment date: December 5, 2003, performance benchmark: 75% (weighted by the total market value of Shanghai and Shenzhen A-share indexes)+25% Shanghai treasury bond Index, Chen Yi has managed since June 21, 2022): -1.60%/5.49%, -28.43%/-11.41%, -15.68%/-1.93%, 2.88%/11.49%, 24.55%/15.21%;

Cathay Pacific Jinma Robust Hybrid A (establishment date: 2004/06/18, performance benchmark: 60% (weighted by the total market value of Shanghai and Shenzhen A-share indexes)+40% Shanghai treasury bond Index, Xie Hongcai has managed since September 15, 2023): -7.26%/5.96%, -18.13%/-8.75%, -6.41%/-0.94%, -13.38%/10.77%, 45.39%/12.65%;

Guotai Jinpeng Blue Chip Value Hybrid Securities Investment Fund (established on September 29, 2006, with a performance benchmark of 60% * FTSE China A-share Blue Chip Value 100+40% * CSI Full Bond (full price), managed by Hu Song since September 25, 2020): 21.35%/-4.19%, -19.25%/-10.62%, 1.13%/-2.44%, 8.65%/13.60%, 35.84%/7.74%.

Funds carry risks and investments need to be cautious. Investors should carefully read legal documents such as the Fund Contract, Prospectus, Product Information Summary, and Risk Disclosure Statement before investing, understand the risk return characteristics of the fund, and judge whether the fund is suitable for your risk tolerance based on your investment purpose, investment period, investment experience, asset status, etc.