Market Performance - As of August 8, 2025, the CSI Hong Kong Internet Index (931637) decreased by 1.33% with mixed performance among constituent stocks [3] - Leading gainers included Dongfang Zhenxuan (01797) up 7.38%, and Lion Group Holdings (02562) up 3.19%, while leading decliners were Qutoutiao (00917) down 6.40% and Kingsoft Cloud (03896) down 5.10% [3] - The Hong Kong Internet ETF (159568) fell by 1.10%, currently priced at 1.8 yuan, but has seen a 0.55% increase over the past week [3] Liquidity and Trading Activity - The Hong Kong Internet ETF had a turnover rate of 19.46% with a trading volume of 62.965 million yuan, indicating active market participation [3] - Over the past year, the average daily trading volume of the Hong Kong Internet ETF was 187 million yuan [3] User Engagement and Ecosystem - Bilibili's user ecosystem is thriving, with 368 million monthly active users and 107 million daily active users as of Q1 2025 [3] - The platform has 32 million monthly paying users and an average daily usage time of 108 minutes, with a 70% penetration rate among Gen Z users [3] ETF Performance Metrics - As of August 7, 2025, the Hong Kong Internet ETF has seen a net value increase of 72.24% over the past year, ranking 138 out of 2949 in the index fund category [5] - The ETF's highest monthly return since inception was 30.31%, with a longest consecutive monthly gain of 3 months and an average monthly return of 8.62% [5] Risk and Fee Structure - The management fee for the Hong Kong Internet ETF is 0.50% and the custody fee is 0.10%, which are among the lowest in comparable funds [7] - The ETF's tracking error over the past three months was 0.050%, indicating high tracking precision compared to similar funds [7] Valuation Insights - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the Hong Kong Internet ETF is 23.8, which is below the 80.03% historical average over the past five years, suggesting a low valuation [7] - The CSI Hong Kong Internet Index consists of 30 publicly listed companies related to internet businesses, reflecting the overall performance of internet-themed stocks within the Hong Kong Stock Connect [7][8]