近期，随著全球晶片与人工智慧相关股票的抛售潮，中国量化对冲基金遭遇了严重的净值回撤。其中，由DeepSeek创始人梁文锋创立的幻方量化（High-Flyer Asset Management）旗下的一只基金在上周下跌了15.7%。

这波市场动荡主要归因于人工智慧概念股在今年早些时候大涨后迅速暴跌。北京的涵德投资（HanTak Investment Management）旗下类似基金也损失了约16.1%，这凸显了量化模型在面对多种指标同时走弱时的脆弱性。

面对极端市场环境与不断缩水的超额回报，超过十家中国对冲基金已宣布动用自有资金申购自家产品，以提振投资者信心。例如，灵均投资与阿尔法基金等机构近日纷纷承诺巨额自购。（关键数字：2）

Recently, Chinese quantitative hedge funds have experienced severe drawdowns following a global selloff in chip and artificial intelligence-related stocks. Notably, a fund managed by High-Flyer Asset Management, founded by DeepSeek's Liang Wenfeng, slumped 15.7% last week.

This market turmoil was primarily driven by the rapid plunge of AI concept stocks after their strong rally earlier this year. A similar fund at Beijing-based HanTak Investment Management also lost an estimated 16.1%, highlighting the vulnerability of quantitative models when multiple factors weaken simultaneously.

In response to the extreme market environment and shrinking excess returns, more than ten Chinese hedge funds have announced plans to subscribe to their own products using proprietary money to boost investor confidence. For instance, firms like Lingjun Investment and Alpha2Fund have recently committed substantial amounts for self-purchases.