On July 18, the second quarter report of public funds such as Xingquan Herun and Xingquan Heyi, managed by well-known fund manager Xie Zhiyu of Xingzheng Global Fund, was disclosed for 2024. Compared to the first quarter holdings, in the second quarter of this year, Xingquan Herun and Xingquan Heyi increased their positions in several semiconductor stocks. Xie Zhiyu mentioned in the second quarter report that the overall position was maintained at a relatively high level, and exploration was conducted in industries such as generalized AI applications, semiconductors, new energy vehicles, and home appliances. Specifically, by the end of the second quarter, the stock positions of Xingquan Herun and Xingquan Heyi had slightly increased compared to the end of the first quarter, reaching 93.75% and 93.56% respectively. As of the end of the reporting period, the net asset value of Xingquan Herun mixed fund was 1.3530 yuan, with a growth rate of 0.13% in this reporting period, compared to a benchmark return rate of -1.32% during the same period. By the end of the second quarter, the top ten heavy positions of Xingquan Herun were Lanqi Technology (688008.SH), Haier Smart Home (600690.SH), Jingchen Shares (688099.SH), Sanan Optoelectronics (600703.SH), Lixun Precision (002475.SZ), Nant Optoelectronics (300750.SZ), Crystal Optoelectronics (002273.SZ), Bull Group (603195.SH), Juhua Shares (600160.SH), and North Huachuang (002371.SZ). Compared to the first quarter, the positions of Lanqi Technology, Haier Smart Home, Jingchen Shares, and Bull Group had all increased to some extent, with Lanqi Technology becoming the top heavy position. Lixun Precision and Juhua Shares were new additions to the top ten heavy positions. New industries, micro-companies, Tongfu Micro Electronics, and Meihua Biologicals exited the top ten heavy positions. Looking at Xingquan Heyi Mixed Fund, by the end of this reporting period, the net asset value of Xingquan Heyi Mixed Fund A was 1.2383 yuan, with a growth rate of 1.05% in this reporting period, compared to a benchmark return rate of 0.38%; the net asset value of Xingquan Heyi Mixed Fund C was 1.2066 yuan, with a growth rate of 0.90% in this reporting period, compared to a benchmark return rate of 0.38%. By the end of the second quarter, the top ten heavy positions of the fund were Lanqi Technology, Kuaishou-W (01024), Haier Smart Home, Jingchen Shares, Nant Optoelectronics, Sanan Optoelectronics, Bull Group, Crystal Optoelectronics, Gao Wei Electronics, and Bei Hua Chuang. It can be seen that both funds increased their positions in Lanqi Technology, Haier Smart Home, Jingchen Shares, and Bull Group. They also added Crystal Optoelectronics and North Huachuang to the top ten heavy positions. Xingquan Herun also added Lixun Precision and Juhua Shares to the top ten heavy positions, while Xingquan Heyi added Gao Wei Electronics. In addition, both funds reduced their positions in Sanan Optoelectronics and Nant Optoelectronics, and Xingquan Heyi also reduced its position in Kuaishou-W. In the report, Xie Zhiyu pointed out that they maintained a relatively high position during the reporting period, explored generalized AI applications, semiconductors, new energy vehicles, home appliances, and continuously sought excellent companies with good investment value. Looking at various sectors, the expected interest rate cut by the Federal Reserve has been postponed, and prices of resources such as gold, copper, and oil are fluctuating at high levels. NVIDIA's AI server business continues to grow rapidly, and related sectors such as domestic servers and optical modules are showing continuous improvement. The expectation of Apple's AI landing is driving the domestic electronic industry chain. A-shares in sectors such as electricity and high dividends remain strong. Consumer sectors are still weak due to the impact of the economic downturn, while the expectation for export-chain companies is turning weaker.