Core Viewpoint - The Tianhong CSI Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159281) experienced a decline of 1.74% in its closing price on February 13, with a trading volume of 48.02 million yuan [1]. Group 1: Fund Overview - The Tianhong CSI Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF was established on August 20, 2025, with an annual management fee of 0.50% and a custody fee of 0.10% [1]. - The fund's performance benchmark is the CSI Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index, adjusted for valuation exchange rates [1]. Group 2: Fund Size and Performance - As of February 12, 2025, the fund had a total of 345 million shares and a total size of 359 million yuan, showing a 2.54% decrease in shares and a 2.46% increase in size since December 31, 2025 [1]. - The cumulative trading amount over the last 20 trading days reached 1.218 billion yuan, with an average daily trading amount of 60.88 million yuan [1]. Group 3: Fund Management and Holdings - The current fund manager is He Yuxuan, who has managed the fund since its inception, achieving a return of 2.94% during the management period [2]. - Major holdings in the fund include COSCO Shipping Holdings (4.11%), China Shenhua Energy (2.68%), CNOOC (2.56%), Sinopec Engineering (2.56%), China National Offshore Oil Corporation (2.52%), China Merchants Energy Shipping (2.45%), PetroChina (2.37%), China Coal Energy (2.37%), CITIC International (2.34%), and China Construction Bank (2.28%) [2].