Group 1 - ESR Asset Management (Prosperity) Limited reduced its stake in Prosperity Industrial Trust (00808) by selling 178,000 shares at an average price of HKD 1.4065 per share, totaling approximately HKD 250,400 [1] - After the reduction, ESR Asset Management's latest shareholding stands at approximately 111 million shares, representing a holding percentage of 7.03% [1]

Summary of Key Points - On November 11, ESR Asset Management (Prosperity) Limited reduced its stake in Prosperity REIT (00808) by selling 178,000 shares at an average price of HKD 1.4065 per share, totaling approximately HKD 250,400 [1] - Following the reduction, ESR Asset Management's remaining shareholding is approximately 111 million shares, representing a holding percentage of 7.03% [1]

Core Viewpoint - ESR Asset Management (Prosperity) Limited has reduced its stake in 泓富产业信托 (00808) by selling 178,000 shares at an average price of HKD 1.4065 per share, totaling approximately HKD 250,400, resulting in a new holding of about 111 million shares, representing a 7.03% ownership [1] Summary by Category - **Share Reduction**: ESR Asset Management (Prosperity) Limited sold 178,000 shares of 泓富产业信托 (00808) [1] - **Transaction Details**: The average selling price was HKD 1.4065 per share, leading to a total transaction value of approximately HKD 250,400 [1] - **Current Holdings**: After the sale, ESR's remaining shares amount to approximately 111 million, which corresponds to a 7.03% ownership stake in the company [1]

Core Viewpoint - ESR Asset Management (Prosperity) Limited has reduced its stake in Prosperity Industrial Trust (00808) by selling 197,000 shares at a price of HKD 1.402 per share, totaling approximately HKD 276,200 [1] Summary by Category Shareholding Changes - After the reduction, ESR Asset Management's latest shareholding stands at approximately 113 million shares, representing a holding percentage of 7.15% [1]

Core Viewpoint - ESR Asset Management (Prosperity) Limited has reduced its stake in 泓富产业信托 (00808) by selling 183,000 shares at a price of HKD 1.4025 per share, totaling approximately HKD 256,700, resulting in a new holding of about 108 million shares, representing 6.86% of the total shares [1] Summary by Category - **Share Reduction** - ESR Asset Management sold 183,000 shares of 泓富产业信托 at HKD 1.4025 per share [1] - The total amount from the sale was approximately HKD 256,700 [1] - **Current Holdings** - After the reduction, ESR Asset Management's remaining shares in 泓富产业信托 are approximately 108 million [1] - The current holding percentage is 6.86% [1]

Group 1 - WayMeet Limited, the parent company of the digital accessory brand ESR, announced a voluntary recall of over 50,000 units of the HaloLock series wireless power banks due to safety hazards related to lithium-ion battery overheating, which could lead to fire and explosion [1] - There have been 29 reported incidents in North America (USA and Canada) regarding overheating, fires, and explosions of these power banks, resulting in at least $30,000 in property damage, although no injuries have been reported [1] - The recall affects four specific models: 2G520, 2G505B, 2G512B, and 2G505, which are pocket-sized and identifiable by the "ESR" brand logo and model codes on the side [1] Group 2 - ESR was established in 2009 and is headquartered in Shenzhen, operating in over 180 countries with more than 1,500 physical stores and over 70 million users [2] - The product range includes digital accessories, automotive accessories, and Bluetooth audio devices [2]

Core Insights - The Hong Kong Stock Connect Non-Bank ETF (513750) has reached a record size of 10.364 billion yuan as of July 24, 2025, marking a year-to-date growth of 1213.56% [1] - The ETF has seen continuous net inflows over the past 17 days, with a total of 4.966 billion yuan in net inflows, and 5.897 billion yuan over the past month [1] - The ETF has achieved a 52.78% increase since its low point on April 10, 2025, and has a one-year net value increase of 90.63%, ranking in the top 1.36% among 2940 index stock funds [2] Fund Performance - The Hong Kong Stock Connect Non-Bank ETF recorded a trading volume of 2.158 billion yuan on July 24, 2025, with a turnover rate of 22.14%, indicating active market participation [2] - The ETF has a maximum monthly return of 31.47% since its inception, with the longest consecutive monthly gain being 4 months and an average monthly return of 7.04% [2] - The ETF closely tracks the CSI Hong Kong Stock Connect Non-Bank Financial Theme Index, which includes up to 50 listed companies that meet the non-bank financial theme criteria [2] Sector Analysis - The top ten weighted stocks in the CSI Hong Kong Stock Connect Non-Bank Financial Theme Index account for 77.92% of the index, with major holdings including China Ping An, AIA, and Hong Kong Exchanges and Clearing [3] - Market sentiment has improved in Q2 2025, leading to an increase in the non-bank sector's weight, with expectations for both fundamental and valuation improvements [3] - The insurance sector is expected to benefit from a stable interest rate environment and improved investment returns, which could enhance profitability [4]

Group 1 - As of July 16, 2025, the Hong Kong Stock Connect Non-Bank ETF (513750) reached a record size of 7.451 billion, with a year-to-date growth of 844.35% [1] - The ETF's latest share count is 4.840 billion, also a record high since its inception [1] - The index tracking the non-bank financial theme (931024) experienced a decline of 0.82% on the same date, with mixed performance among constituent stocks [1] Group 2 - The Hong Kong Stock Connect Non-Bank ETF has seen a net asset value increase of 74.06% over the past year, ranking 57 out of 2915 index stock funds, placing it in the top 1.96% [2] - The ETF's highest monthly return since inception was 31.47%, with the longest consecutive monthly gain being 4 months and a total increase of 38.25% [2] - The top ten weighted stocks in the index account for 77.92%, with major holdings including China Ping An, AIA, and Hong Kong Exchanges and Clearing [2] Group 3 - Recent policies aimed at enhancing financial market construction and expanding high-level financial openness are expected to create significant business opportunities for non-bank financial institutions [3] - The insurance sector is anticipated to benefit from new regulations promoting long-term investments, while brokerage firms are expected to maintain high trading activity levels [3] - The Hong Kong Stock Connect Non-Bank ETF is the first and only ETF tracking the non-bank index, with over 60% of its composition in insurance stocks [3]

Core Viewpoint - ESR, Asia's largest logistics real estate company, has officially delisted from the Hong Kong Stock Exchange and transitioned into a privately held entity, marking a significant step in its privatization process [1][2] Group 1: Privatization Process - The privatization proposal was approved under Section 86 of the Companies Law and will take effect on June 30, 2025, following court approval on June 20 [1] - As of June 30, ESR received valid acceptances for approximately 99.3% of its total share options, indicating strong support for the privatization [1] Group 2: Management Changes - Following privatization, ESR has undergone a significant management overhaul, with Brett Robson appointed as the independent board chairman and Phil Pearce as president [2][3] - New appointments also include Matthew Lawson as CFO, Josh Daitch as Chief Investment Officer, and David Matheson as Chief Investment Officer for Group Strategy and Investment [3][4] Group 3: Strategic Focus - ESR aims to accelerate its strategic transformation post-privatization, focusing on core logistics and data center business areas to leverage its platform advantages in the Asia-Pacific region [2][7] - The management changes are intended to align with long-term strategic goals, allowing for more flexibility in decision-making without the pressures of public market performance [7][8] Group 4: Employee Transition - Employees have been informed about the privatization process, with company-controlled desktop settings to address potential concerns regarding the transition [5][6] - The new management team is expected to enhance operational efficiency and attract top talent through improved compensation and career development opportunities [8]

Core Viewpoint - The China Securities Index for non-bank financial themes has shown a decline in the short term but has experienced significant growth year-to-date, indicating a mixed performance in the financial sector [1][2]. Group 1: Index Performance - The CSI Non-Bank Financial Theme Index fell by 2.62% to 3445.53 points, with a trading volume of 18.869 billion yuan [1]. - Over the past month, the index has increased by 8.98%, and over the last three months, it has risen by 6.39%, with a year-to-date increase of 21.74% [1]. Group 2: Index Composition - The index comprises up to 50 listed companies that meet the non-bank financial theme criteria, reflecting the overall performance of this sector within the Hong Kong Stock Connect [1]. - The top ten weighted companies in the index include China Ping An (14.86%), AIA Group (14.77%), Hong Kong Exchanges and Clearing (14.3%), China Life (8.75%), China Pacific Insurance (6.66%), and others [1]. Group 3: Industry Representation - The index exclusively represents the financial sector, with a 100% allocation to financial companies [2]. - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2].