CEC CoreCast(SH:600764) Xin Lang Cai Jing·2025-06-26 03:53Core Viewpoint - The recent developments in the Central State-Owned Enterprises (SOEs) innovation-driven index and related ETF indicate a positive trend in the performance of Chinese defense and technology sectors, showcasing advancements in domestic manufacturing and military capabilities [3][4]. Group 1: Market Performance - As of June 26, 2025, the Central SOE Innovation-Driven Index (000861) increased by 0.23%, with notable gains from stocks such as China Haifeng (8.74%) and Ruike Laser (7.69%) [3]. - The Central SOE Innovation-Driven ETF (515900) rose by 0.21%, marking its fourth consecutive increase, with a latest price of 1.45 yuan and a trading volume of 9.5971 million yuan [3]. - The ETF has achieved an average daily trading volume of 29.7681 million yuan over the past year, ranking first among comparable funds [3]. Group 2: Military and Defense Developments - The upcoming military parade on September 3, 2025, coincides with significant milestones in China's defense strategy, showcasing domestically produced main battle equipment and advancements in defense technology [4]. - The parade is expected to highlight China's military capabilities and may serve as a strategic platform for military trade, transitioning from a focus on cost-effectiveness to establishing technological benchmarks [4]. Group 3: ETF Performance Metrics - The Central SOE Innovation-Driven ETF has seen a net value increase of 5.33% over the past year, with a maximum monthly return of 15.05% since its inception [5]. - The ETF's management fee is 0.15% and the custody fee is 0.05%, making it one of the lowest in its category [5]. - The tracking error over the past five years is 0.038%, indicating the highest tracking precision among comparable funds [5]. Group 4: Top Holdings - As of May 30, 2025, the top ten weighted stocks in the Central SOE Innovation-Driven Index account for 34.64% of the index, with Hikvision (5.08%) and Guodian NARI (4.55%) being the most significant [6][8]. - The performance of these top holdings varies, with some experiencing slight declines, indicating a mixed performance landscape within the index [8].