On July 17, Ruiyuan Fund's public offering products disclosed the second quarter report of 2025. In the second quarter of this year, the Hong Kong stock position of Ruiyuan Growth Value, jointly managed by well-known fund managers Fu Pengbo and Zhu Lin, increased from 25.97% to 27.35%. In terms of specific holdings, Xinyisheng has newly entered the top ten holdings of the fund. In addition, the fund has increased its holdings of Luxshare Precision, Cambrian, and Giant Star Technology, and reduced its holdings of Shenghong Technology, Tencent Holdings, CATL, China Mobile, Sanno Biological, and Maxsun Technology. Fu Pengbo and Zhu Lin stated in the second quarter report that the net value of the fund's Hong Kong stock targets and PCB (printed circuit boards) targets in the second quarter contributed significantly, and the overall configuration focused on electronics, Internet technology, precision manufacturing, and pharmaceutical sectors. Compared with the first quarter, among the top ten holdings, the PCB industry chain stocks rose significantly, and their proportion increased significantly. In addition, the fund has also increased the allocation of the pharmaceutical sector, involving sub-industries including innovative drugs and traditional medicine that benefited from AI.