“A股反内卷先锋”|有色龙头ETF官宣完成基金份额1：2拆分

Core Viewpoint - The non-ferrous metal sector is demonstrating strong resilience and is viewed as a "pioneer against involution" in the A-share market, particularly as the market hovers around the 3600-point mark [1][5]. ETF Fund Split - The non-ferrous leading ETF (159876) has completed a 1:2 fund share split, increasing the total shares from approximately 60.59 million to 121 million, while the net asset value per share decreased from 1.2683 yuan to 0.6341 yuan, effectively halving the unit net value [1][2]. - The purpose of the fund split is to lower the trading threshold for investors, making it easier for more participants to engage in the "anti-involution" investment opportunities in the A-share market [2][5]. Performance of Non-Ferrous Metal Index - The non-ferrous leading ETF tracks the CSI Non-Ferrous Metals Index, which has significantly outperformed the broader market since the "9.24" market rally began in 2024, with a cumulative increase of 33.47% from September 23, 2024, to July 31, 2025, compared to 29.99% for the Shanghai Composite Index and 26.86% for the CSI 300 Index during the same period [3][11]. Investment Value - As of June 30, 2024, the CSI Non-Ferrous Metals Index had a price-to-book ratio of 2.24, indicating a historically low valuation at the 34.45 percentile since its inception, suggesting significant long-term investment value [5][11]. Composition of the Non-Ferrous Metal Index - The top ten constituents of the CSI Non-Ferrous Metals Index include major companies such as Northern Rare Earth (6.93%) and China Aluminum (4.30%), with the index covering 60 leading A-share companies in the non-ferrous metal sector [6][11]. - The index's weightings in copper, gold, aluminum, rare earths, and lithium are 26.1%, 16.3%, 15.8%, 8.5%, and 7.7% respectively, providing diversification benefits compared to investing in a single metal [6][11]. Fund Management and Growth - Huabao Fund has achieved over 100 billion yuan in assets under management for its equity ETFs, reflecting its commitment to providing high-quality financial services and supporting technological innovation [8][9]. - The firm has been recognized for its performance, winning the "Gold Fund - Passive Investment Fund Management Company Award" for three consecutive years from 2021 to 2023 [8][10].