
Market Performance - The ChiNext Index rose by 2.34%, with significant gains from Ningde Times, which increased by over 11% [1] - The Hang Seng Index increased by 0.63%, and the Hang Seng Technology Index rose by 0.56% [1] - Notable stock performances included Haier Smart Home rising over 6% and Li Auto increasing by over 4% [1] Liquidity and Monetary Policy - The People's Bank of China conducted a 7-day reverse repurchase operation of 782.9 billion yuan, with a net injection of 421.7 billion yuan for the day [1] - The central bank strengthened the RMB central parity rate by 0.65%, marking the largest increase since September of the previous year [1] ETF Performance - The ChiNext ETF (平安) saw a trading volume of 492.17 million yuan, with a turnover rate of 0.85% [2] - The ETF's latest scale reached 568 million yuan, a six-month high [2] - Over the past six months, the ChiNext ETF's net value increased by 26.76%, ranking it among the top 2 in comparable funds [2] Risk and Return Metrics - The ChiNext ETF achieved a maximum monthly return of 37.37% since inception, with an average monthly return of 6.61% [2] - The ETF's Sharpe ratio over the past year was 1.59, indicating strong risk-adjusted returns [3] - The relative drawdown against the benchmark over the past six months was only 0.07% [4] Fee Structure - The management fee for the ChiNext ETF is 0.15%, and the custody fee is 0.05%, which are among the lowest in comparable funds [5] Tracking Accuracy - The tracking error for the ChiNext ETF over the past three months was 0.017%, indicating close alignment with the ChiNext Index [6] - The ChiNext Index is composed of 100 stocks with high market capitalization and liquidity, reflecting the performance of the ChiNext market [6] Top Holdings - As of July 31, 2025, the top ten weighted stocks in the ChiNext Index accounted for 52.52% of the index, with Ningde Times holding the highest weight at 18.77% [8]