Fund Overview - The fund is named "Huaxia MSCI China A50 Interconnection ETF" and was established on November 1, 2021, with a total fund share of 3,699,588,073.00 shares as of the report date [1][2] - The fund aims to closely track the MSCI China A50 Interconnection Index, targeting an absolute tracking deviation of no more than 0.2% on a daily basis and an annual tracking error of no more than 2% [1][2] - The fund employs various investment strategies, including full replication, alternative strategies, and investment in derivatives [1][2] Financial Performance - The fund achieved a realized income of 126,423,995.03 RMB and a profit of 25,269,600.18 RMB during the reporting period from January 1, 2025, to June 30, 2025 [2][3] - The net asset value at the end of the reporting period was 3,100,756,949.39 RMB, with a net asset value per share of 0.8381 RMB [2][3] - The fund's cumulative net value growth rate since inception is -16.19%, with a net value growth rate of 0.87% for the reporting period [2][3] Market Context - The macroeconomic environment showed a GDP growth of 5.3% year-on-year, with fluctuations in PMI and low inflation levels [11] - The fund's investment strategy is influenced by market conditions, including the impact of trade wars and the performance of various sectors such as artificial intelligence and new consumption [11][12] - The fund's tracking deviation was +1.11%, primarily due to dividend distributions, operational expenses, and adjustments in index composition [12] Management and Operations - The fund is managed by Huaxia Fund Management Co., Ltd., which has extensive experience in managing ETF products and a wide range of investment strategies [3][4] - The fund's liquidity service providers include several major securities firms, ensuring market liquidity and stability [11] - The fund management adheres to strict compliance with regulations and maintains a commitment to fair trading practices [9][10] Future Outlook - The fund anticipates a favorable investment environment due to the potential return of capital to A-shares and H-shares, driven by a weaker dollar and expectations of interest rate cuts by the Federal Reserve [12] - The focus will be on closely tracking the index while adapting to market changes and investor needs [12][13]

Core Insights - The core viewpoint of the reports indicates a mixed performance for China Merchants Bank, with a slight decrease in operating net income but a marginal increase in net profit attributable to shareholders. Financial Performance - Operating net income for the first half of 2025 was 169.92 billion RMB, a year-on-year decrease of 1.73% [1] - Net profit attributable to shareholders reached 74.93 billion RMB, reflecting a year-on-year increase of 0.25% [1] - Basic earnings per share stood at 2.89 RMB [1] - Net interest income was 106.09 billion RMB, showing a year-on-year growth of 1.57% [1] - Non-interest income amounted to 63.84 billion RMB, which is a year-on-year decline of 6.77% [1] - Annualized return on average total assets (ROAA) was 1.21%, down by 0.11 percentage points year-on-year [1] - Annualized return on average equity (ROAE) was 13.85%, down by 1.59 percentage points year-on-year [1] Asset Quality - As of the end of the reporting period, the group's non-performing loan balance was 66.37 billion RMB, an increase of 0.76 billion RMB compared to the end of the previous year [2] - The non-performing loan ratio was 0.93%, a decrease of 0.02 percentage points from the end of the previous year [2] - Provision coverage ratio stood at 410.93%, down by 1.05 percentage points from the end of the previous year [2] - Loan provision ratio was 3.83%, a decrease of 0.09 percentage points compared to the end of the previous year [2]

Core Insights - The core viewpoint of the article is that China Merchants Bank (03968.HK) reported a decline in net operating income for the first half of 2025, while net profit showed a slight increase, indicating mixed financial performance amid a challenging economic environment [1] Financial Performance - The group achieved net operating income of 169.923 billion yuan, a year-on-year decrease of 1.73% [1] - The net profit attributable to shareholders was 74.930 billion yuan, reflecting a year-on-year increase of 0.25% [1] - Net interest income reached 106.085 billion yuan, marking a year-on-year growth of 1.57% [1] - Non-interest income totaled 63.838 billion yuan, which is a year-on-year decline of 6.77% [1] - The annualized return on average total assets (ROAA) was 1.21%, down 0.11 percentage points year-on-year [1] - The annualized return on average equity (ROAE) was 13.85%, down 1.59 percentage points year-on-year [1] Asset and Liability Overview - As of the reporting period, total assets amounted to 12,657.151 billion yuan, an increase of 4.16% compared to the end of the previous year [1] - Total loans and advances reached 7,116.616 billion yuan, up 3.31% from the end of the previous year [1] - Total liabilities were 11,360.291 billion yuan, reflecting a growth of 4.05% year-on-year [1] - Customer deposits totaled 9,422.379 billion yuan, an increase of 3.58% compared to the end of the previous year [1] Loan Quality Metrics - The balance of non-performing loans was 66.370 billion yuan, an increase of 0.760 billion yuan compared to the end of the previous year [1] - The non-performing loan ratio stood at 0.93%, a decrease of 0.02 percentage points year-on-year [1] - The provision coverage ratio was 410.93%, down 1.05 percentage points from the end of the previous year [1] - The loan provision ratio was 3.83%, a decrease of 0.09 percentage points year-on-year [1]

实现净利息收入1,060.85亿元，同比增长1.57%;实现非利息净收入638.38亿元，同比下降6.77%;年化后归 属于本行股东的平均总资产收益率(ROAA)和年化后归属于本行普通股股东的平均净资产收益率(ROAE) 分别为1.21%和13.85%，同比分别下降0.11和1.59个百分点。 智通财经APP讯，招商银行(03968)发布2025年中期业绩，营业净收入1699.23亿元(人民币，下同)，同比 减少1.73%;归母净利润749.3亿元，同比增加0.25%;每股基本盈利2.89元。 报告期内，实现净利息收入1,060.85亿元，同比增长1.57%;实现非利息净收入638.38亿元，同比下降 6.77%;年化后归属于本行股东的平均总资产收益率(ROAA)和年化后归属于本行普通股股东的平均净资 产收益率(ROAE)分别为1.21%和13.85%，同比分别下降0.11和1.59个百分点。 截至报告期末，集团不良贷款余额663.70亿元，较上年末增加7.60亿元;不良贷款率0.93%，较上年末下 降0.02个百分点;拨备覆盖率410.93%，较上年末下降1.05个百分点;贷款拨备率3.83%，较上年末下降 ...

基金管理人和/或基金托管人的住所/办公地 华夏恒生中国企业交易型开放式指数 证券投资基金（QDII） 基金管理人：华夏基金管理有限公司 基金托管人：招商银行股份有限公司 报告送出日期：二〇二五年八月三十日 华夏恒生中国企业交易型开放式指数证券投资基金（QDII）2025 年中期报告 基金管理人的董事会、董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗漏，并 对其内容的真实性、准确性和完整性承担个别及连带的法律责任。本中期报告已经三分之二以上独 立董事签字同意，并由董事长签发。 基金托管人招商银行股份有限公司根据本基金合同规定，于 2025 年 8 月 28 日复核了本报告中 的财务指标、净值表现、利润分配情况、财务会计报告、投资组合报告等内容，保证复核内容不存 在虚假记载、误导性陈述或者重大遗漏。 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅读本基 金的招募说明书及其更新。 本报告中财务资料未经审计。 本报告期自 2025 年 1 月 1 日起至 6 月 30 日止。 华夏恒生中国企业交 ...

Core Viewpoint - The report provides a comprehensive overview of the performance and management of the Huaxia CSI 1000 Exchange-Traded Fund (ETF) for the first half of 2025, highlighting its investment strategies, financial metrics, and market conditions affecting its operations [1][11][12]. Fund Overview - Fund Name: Huaxia CSI 1000 ETF - Fund Manager: Huaxia Fund Management Co., Ltd. - Fund Custodian: China Merchants Bank Co., Ltd. - Total Fund Shares at Period End: 14,654,425,606 shares - Fund Contract Effective Date: March 18, 2021 - Fund's Investment Objective: To closely track the CSI 1000 Index with minimal tracking deviation [1][2][11]. Financial Indicators and Fund Performance - Realized Income for the Period: CNY 1,875,209,531.46 - Total Profit for the Period: CNY 3,587,964,547.03 - Average Net Value Profit Rate: 10.97% - Net Asset Value at Period End: CNY 38,226,981,314.51 - Fund Share Net Value Growth Rate: 7.48% - Cumulative Net Value Growth Rate: 8.14% [2][3][11]. Market and Economic Conditions - The domestic economy showed stability with a GDP growth of 5.3% year-on-year in the first half of 2025, while CPI decreased by 0.1% compared to the previous year [11][12]. - The A-share market experienced volatility due to various factors, including trade policies and liquidity changes, but maintained resilience overall [12][14]. Investment Strategy - The fund employs a combination of replication strategies and alternative strategies to effectively track the CSI 1000 Index, which consists of 1000 smaller, liquid stocks not included in the CSI 800 Index [11][12]. - The fund's tracking deviation for the reporting period was +0.79%, attributed to factors such as stock dividends and operational expenses [13][14]. Management and Operations - Huaxia Fund Management Co., Ltd. has a strong reputation in the ETF management space, being one of the largest in terms of asset management scale [4][5]. - The fund management adheres to strict compliance with regulations and maintains a commitment to fair trading practices [10][17].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 招商銀行股份有限公司 CHINA MERCHANTS BANK CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （H股股票代碼：03968） 2025年中期業績公告 招商銀行股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬 公司截至2025年6月30日止六個月之未經審計業績。本公告列載本公司2025年中 期報告全文，並符合香港聯合交易所有限公司證券上市規則中有關中期業績初步 公告附載的資料之要求。本公司2025年中期報告將適時刊載於香港交易及結算所 有限公司網站( www.hkex.com.hk )及本公司網站( www.cmbchina.com )並按本公司 H股股東選擇收取公司通訊的方式寄發予本公司H股股東。 發佈業績公告 本業績公告的中英文版本可在香港交易及結算所有限公司網站( www.hkex.com.hk ) 和本公司網站( www.cmbchina.com ...

证券之星消息，8月29日股份制银行板块较上一交易日下跌1.03%，华夏银行领跌。当日上证指数报收于 3857.93，上涨0.37%。深证成指报收于12696.15，上涨0.99%。股份制银行板块个股涨跌见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601166 兴业银行 | | -2746.18万 | -1.10% | -1804.58万 | -0.72% | 4550.76万 | 1.83% | | 601998 中信银行 | | -3583.08万 | -4.44% | 1818.83万 | 2.25% | 1764.25万 | 2.19% | | 601916 浙商银行 | | -5598.36万 | -7.44% | 3171.36万 | 4.22% | 2427.00万 | 3.23% | | 600000 浦发银行 | | -1.28 Z | -7.21% | -4731.45万 | -2 ...

Group 1 - The onshore and offshore RMB against the US dollar both broke the 7.14 mark, driven by external factors such as the Federal Reserve's policy shift and internal factors like the recovery of the domestic capital market and increased risk appetite [1] Group 2 - Three banks in Sichuan, namely Chengdu Bank, Chengdu Rural Commercial Bank, and Sichuan Bank, are planning to jointly apply for a wealth management company, with preparations already underway [2] Group 3 - Major banks are accelerating their securities account opening business in response to the significant recovery of the A-share market, with a 70.54% year-on-year increase in new investors in July 2025 [3] - The collaboration between banks and securities firms is seen as a necessary adaptation to changing market demands, integrating basic financial services and investment opportunities into a single ecosystem [3] Group 4 - The issuance of technology innovation bonds (科创债) has reached a total scale of 2,273 billion yuan, reflecting strong market demand for financing in technology innovation since the launch of the "technology board" in May [4] - A total of 814 technology innovation bonds have been issued, with 34 banks participating, indicating a robust response to the financing needs of emerging technology enterprises [4] Group 5 - Several banks are actively transferring non-performing credit card loans, with significant discounts on the transfer prices, indicating a strong commitment to cleaning up non-performing assets [5] - The large-scale transfer of non-performing loans is a strategy for banks to optimize their asset structure and improve liquidity [5]

【深圳商报讯】（首席记者 谢惠茜）近日，由市委金融办、市商务局、市前海管理局主办，招商银行 深圳分行、深圳市财富管理协会、深圳市跨境电商协会共同承办的外贸领域扩大信贷投放产融对接会在 前海举办。活动聚焦跨境电商、外贸综合服务等领域的痛点堵点，现场为超200家企业提供一站式跨境 金融综合服务对接。 活动邀请了政策性银保机构、中资商业银行、外资银行、财产保险公司、专业第三方等机构30余家。业 内专家聚焦跨境电商卖家出海挑战，介绍我市外贸阳光化相关政策、深度解读跨境电商卖家在商品运 输、产品售后、贸易资金安全、境外商旅经营全流程所面临的风险与解决方案，进一步精准发力实现跨 境金融基础服务触达，政银保合力构建一站式金融赋能企业全球化布局生态。 ...