Xin Lang Cai Jing·2025-08-28 02:15Core Viewpoint - The Central State-Owned Enterprises Innovation-Driven ETF (515900) is showing positive performance, with significant growth in both its underlying index and constituent stocks, indicating a robust investment opportunity in the innovation-driven sector of state-owned enterprises [3][4][5]. Group 1: ETF Performance - As of August 28, 2025, the Central State-Owned Enterprises Innovation-Driven Index (000861) increased by 0.06%, with notable gains from constituent stocks such as China Satellite (600118) up 10.01% and Changfei Optical Fiber (601869) up 10.00% [3]. - The ETF has seen a weekly increase of 1.03% as of August 27, 2025, with a trading volume of 255.79 million yuan and a turnover rate of 0.07% [3]. - Over the past two years, the ETF's net value has risen by 19.11%, with a maximum monthly return of 15.05% since inception [5]. Group 2: Company Insights - China CRRC Corporation Limited reported a revenue of 1197.58 billion yuan for the first half of 2025, marking a year-on-year growth of 32.99%, and a net profit of 72.46 billion yuan, up 72.48% [3][4]. - The company is expected to benefit from increased demand for high-speed trains and the phasing out of old diesel locomotives, with a strong order backlog supporting future growth [4]. - The global AI server market is projected to reach 158.7 billion dollars by 2025, driving demand for high-frequency and high-speed copper-clad laminates, where some ETF constituent companies are positioned competitively [4]. Group 3: ETF Characteristics - The ETF has a management fee of 0.15% and a custody fee of 0.05%, which are among the lowest in comparable funds [5]. - The tracking error of the ETF over the past five years is 0.037%, indicating high tracking precision compared to similar funds [5]. - The ETF's top ten constituent stocks account for 34.11% of the index, reflecting a diversified investment strategy focused on innovative state-owned enterprises [6].