What happened
Yongying Stable Growth One-Year Holding Mixed A (009932) released its 2026 semi-annual report, showing a net profit of 13.1568 million yuan and a weighted average fund share profit of 0.1149 yuan for the period.
The fund's net value grew by 8.77% during the first half, with assets under management reaching 183 million yuan by the end of June. As of September 4, the unit net value stood at 1.376 yuan.
The fund reported a turnover rate of approximately 719.5% for the latest half-year period, consistently higher than the peer average.
Why it matters
The high turnover rate indicates active trading, which may lead to higher transaction costs and tax implications, potentially affecting net returns for investors.
Despite the high turnover, the fund's performance ranks relatively well among peers, with a one-year return of 8.84% placing it in the 74th percentile of 608 comparable funds.
The fund's valuation metrics, including a weighted P/E ratio of 70.11 times, are significantly higher than the peer average of 34.68 times, suggesting a growth-oriented portfolio that may carry higher risk.
Key facts
Fund profit for H1 2026 was 13.1568 million yuan, with weighted average share profit of 0.1149 yuan.
Net value growth rate was 8.77% in H1 2026, and fund size was 183 million yuan as of June 30, 2026.
Turnover rate for the latest half-year was approximately 719.5%, higher than the peer average.
As of June 30, 2026, the fund's weighted P/E ratio was 70.11 times, compared to the peer average of 34.68 times.
Top ten heavy holdings include Jereh, Wus Printed Circuit, BOE, and others.
What to watch next
Investors should monitor whether the fund's high turnover continues and its impact on performance, especially in light of the manager's stated focus on absolute returns and risk control.
The fund's valuation levels remain elevated relative to peers, so watch for any adjustments in portfolio positioning if market conditions change.
Future reports will reveal if the fund maintains its growth-oriented strategy while managing drawdowns, as indicated by its maximum drawdown of 5.32% over three years.