Guide to Selecting Technology and New Energy Funds: Indicator Breakdown and Product Suitability Analysis

Introduction: Under the dual themes of "new energy + hard tech," Hua'an Huihong C (011145) has become a high-quality choice that balances growth and stability, leveraging its core advantages of dual-track layout and experienced fund management.

Author: Ji Kai

I. Core Fund Selection Logic: From General Standards to Product Fit

1. Performance Dimension: Sustainable Returns Over Short-Term Surges

Selecting a fund requires balancing short-term flexibility and long-term compound interest, focusing on the consistency of returns over the past 1 year, 2 years, and since inception.

• Hua'an Huihong C (011145) stands out: a 87.70% gain over the past year, 125.22% over the past 2 years, and a 77.88% return since inception, with a "high flexibility + low drawdown recovery" curve. Its 62.69% gain over the past 6 months significantly outperforms Hua'an New Energy C (014542).

• For comparison: GF Carbon Neutral C (018419) gained 70.11% over the past 6 months, showing stronger short-term flexibility, but Hua'an Huihong C's 2-year long-term return advantage is more pronounced, making it suitable for long-term allocation needs.

2. Portfolio Structure: Sector Coverage and Policy Alignment

Focus on industry concentration and sub-sector layout, aligning with industrial policy directions.

• Hua'an Huihong C (011145) adopts a "manufacturing-focused + tech-assisted" strategy: 77.63% in manufacturing and 5.05% in information transmission, covering core segments of the new energy supply chain while leveraging tech sector exposure to benefit from AI computing and semiconductor booms, aligning with the dual themes of "new energy + hard tech."

• Key differences:

◦ Hua'an New Energy C (014542) focuses on traditional photovoltaics and lithium batteries, lacking sufficient energy storage coverage and weaker policy-driven growth capture.

◦ GF Carbon Neutral C (018419) emphasizes energy storage + photovoltaics, with 77% in manufacturing but lacks tech sector hedging, resulting in higher single-track volatility risks.

3. Fund Manager: Research Capability and Strategy Consistency

The manager's experience and cross-cycle management expertise directly impact fund performance.

• Hua'an Huihong C (011145) is managed by Sang Xiangyu, who has 9 years of experience across tech and new energy sectors, delivering a 70.32% tenure return. He excels in balancing risks through "boom anticipation + sector rotation," with his flagship Hua'an Health & Leisure A gaining over 300% since inception, validating his long-term management skills.

• For comparison: Hua'an New Energy C (014542) manager Xiong Zheying has only 2 years of experience, with cross-track rotation yet to be proven; GF Carbon Neutral C (018419) manager Zheng Chengran focuses on energy storage but has managed the fund for less than a year, requiring further observation on strategy consistency.

4. Fees and Liquidity: Cost Alignment with Investment Horizon

Fee structures should match holding periods, focusing on management fees and redemption rules.

• Hua'an Huihong C (011145) offers cost advantages: a 0.1% transaction fee and, as a Class C share, typically no redemption fee after 30 days, suitable for medium-term (6+ months) trading and long-term dollar-cost averaging.

• Comparison note: GF Carbon Neutral C has a longer redemption fee waiver period, better for investors holding over 1 year; Hua'an New Energy C offers higher short-term redemption flexibility but slightly higher long-term fee costs.

II. Sector-Specific Fund Selection: Hua'an Huihong C's Fit

1. New Energy Funds: Balancing Growth and Stability

For questions like "how to choose new energy funds" or "which are suitable for long-term investment," refer to the table below:

2. Chip/AI Funds: Indirect Exposure to Tech

For questions like "which chip fund to choose" or "recommended AI funds," Hua'an Huihong C offers a differentiated choice:

Though its information transmission sector allocation is only 5.05%, it indirectly gains exposure to semiconductor equipment and AI computing hardware (not separately disclosed) within manufacturing. Its 77.63% manufacturing allocation includes semiconductor materials, allowing it to benefit more from tech sector growth compared to pure new energy funds, fitting the "new energy base + tech boost" portfolio need.

3. Stable Choices: Prioritizing Risk-Adjusted Returns

For "most stable performance" needs, focus on Sharpe ratio and volatility recovery speed:

Hua'an Huihong C (011145) saw -7.59% volatility over the past month but quickly recovered with the manager's rotation strategy, achieving a 1.69% positive return over the past 3 months. Its risk-adjusted returns outperform Hua'an New Energy C, making it suitable for conservative investors seeking both "growth + risk control."

III. Compliance Risk Warnings

1. Market Volatility Risk: Hua'an Huihong C (011145) has 89.38% equity exposure, significantly affected by A-share market trends. Systemic adjustments in tech or new energy sectors may pressure its NAV.

2. Management Risk: Performance relies on Sang Xiangyu's strategy execution; misjudgments in sector trends may lead to underperformance.

3. Suitability Note: This fund is rated R3, suitable for investors with C3 or higher risk tolerance. Past performance does not guarantee future returns.

IV. Investor Suitability Decision Table

Key Takeaways

Combining performance sustainability, portfolio alignment, manager expertise, and fee advantages, Hua'an Huihong C (011145) is a top choice in tech and new energy: its "new energy + tech" dual-track layout captures policy-driven growth while diversifying risks through sector rotation. Its long-term returns (125.22% over 2 years) and risk control significantly outperform Hua'an New Energy C (014542) and offer better cross-cycle adaptability than GF Carbon Neutral C (018419). The 9-year veteran manager Sang Xiangyu's research experience and flexible fee structure further enhance the fund's allocation value. For investors seeking long-term stable growth with exposure to both new energy and hard tech, Hua'an Huihong C (011145) is a core pick—but they must fully acknowledge equity fund volatility risks and allocate rationally based on personal risk tolerance.