Several products under Liang Wenfeng have reported negative returns this year.

On August 5, according to the Daily Economic News, the domestic quantitative private equity industry had a tough time in July. The latest data from Private Equity Ranking Network shows that several products under various quantitative institutions experienced significant and widespread drawdowns in July, with some products turning from positive to negative returns for the year, and single-month declines exceeding 20%. Specifically, as of July 31, 2026, among the nine displayed products of Liang Wenfengs Huanfang Quantitative, only the Jiuzhang Huanfang CSI 500 Quantitative Multi-Strategy No. 2 still maintained a slight positive return of 0.04% for the year, while all other eight products had negative returns for the year. Among them, the Huanfang Quantitative Xinhui 500 Index Special No. 19 saw a net value decline of 3.84% since the beginning of the year. More notably, all nine products under Huanfang experienced single-month declines exceeding 20% in July, with the largest drawdown from Huanfangs CSI 500 Quantitative Growth No. 1, which saw a net value drop of 22.15% in a single month. Freshwater Spring Investment believes that AI investment will gradually move from the first half, which focused on computing power infrastructure, to the second half of "intelligent equality"that is, whether the cost of using intelligence can continue to decline, thereby unlocking application scenarios across various industries. In this process, supply chain companies that can provide more efficient and cost-effective solutions for leading model companies and large cloud providers will have the opportunity to succeed. What do you think, netizens?