来源：新浪基金∞工作室 港股红利低波ETF（159569）现任基金经理为龚丽丽、汪洋。龚丽丽自2024年8月29日管理（或拟管 理）该基金，任职期内收益40.15%；汪洋自2025年8月13日管理（或拟管理）该基金，任职期内收 益-0.24%。 最新定期报告显示，港股红利低波ETF（159569）重仓股包括东方海外国际、中远海控、兖煤澳大利 亚、兖矿能源、海丰国际、中国宏桥、中国石油化工股份、中国海洋石油、民生银行、中国光大银行， 持仓占比如下。 股票代码股票名称持仓占比持仓股数（股）持仓市值（元）00316东方海外国际9.65%13.35万1624.08万 01919中远海控7.14%96.65万1202.23万03668兖煤澳大利亚5.43%33.89万913.27万01171兖矿能源 4.73%111.80万796.28万01308海丰国际4.36%32.00万733.94万01378中国宏桥3.10%31.80万521.42万00386 中国石油化工股份3.08%138.20万517.99万00883中国海洋石油3.03%31.60万510.65万01988民生银行 3.01%124.95万507.0 ...

Core Insights - The company reported a revenue of approximately $2.459 billion for the nine months ending September 30, 2025, representing a year-on-year growth of 16.6% [2] - Container throughput reached 2,749,844 TEUs, marking a year-on-year increase of 7.8% [2] - The average freight rate, excluding slot exchange revenue, was $754.9 per TEU, which is a year-on-year increase of 9.2% [2]

Group 1: Logistics - The logistics industry is expected to undergo a paradigm shift towards high-quality development, driven by policy changes and the "anti-involution" movement, which aims to ensure the rights of delivery personnel and improve profitability [4][24][30] - The logistics sector is entering a new phase of overseas expansion, with companies like Jitu Express and Jiayou International transitioning from initial stages to more advanced operations, focusing on management and capacity exports [4][8][35] Group 2: Aviation - The aviation industry is poised for recovery, benefiting from a resurgence in business travel demand since September, leading to improved revenue and cost dynamics [9][51] - The supply side is tightening, with low aircraft deliveries expected in 2025 and high capacity utilization rates, indicating a potential for revenue and cost resonance in the industry [9][51] Group 3: Shipping - The shipping sector is influenced by both seasonal and non-seasonal factors, with a focus on oil transportation due to OPEC+ production adjustments and the expected positive impact of new projects in the dry bulk segment [10][20] - The container shipping market is facing tariff disruptions, but demand is anticipated to rise due to proposed measures from the 301 investigation, which may boost feeder vessel demand [10][20] Group 4: Highways - Highway companies are regaining attractiveness in terms of valuation and dividend yield, with a focus on low valuation and high dividend characteristics [11][20] - The widening gap between highway company dividend yields and ten-year government bond yields suggests a return to a high cost-performance ratio for these assets [11][20]

Core Viewpoint - The recent developments in the Hong Kong stock market, particularly the performance of high dividend yield stocks, indicate a cautious yet optimistic sentiment among investors, driven by ongoing economic discussions between China and the U.S. and a stable outlook for various sectors [3][4]. Market Performance - The Hang Seng High Dividend Yield Index rose by 0.01% as of October 24, 2025, with notable increases in stocks such as China Hongqiao (+3.08%) and Bank of China Hong Kong (+2.27%) [3]. - The BoShi Hong Kong Dividend ETF (513690) has seen a 1.37% increase over the past week, reflecting a mixed market sentiment [3]. Economic Events - A delegation from China will engage in economic discussions with the U.S. from October 24 to 27, focusing on key issues in the China-U.S. economic relationship [3]. - The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China was held on October 23, 2025, signaling ongoing political and economic developments [3]. Investment Strategies - The demand for stable asset allocation remains strong, with strategies focusing on "dividend + micro盘" in bear markets and "dividend + tech growth" in bull markets, highlighting the role of dividend stocks as a stabilizing force [4]. - Low-risk preference funds are increasingly entering the market, as evidenced by a fund raising over 5.5 billion in just one day, indicating a growing demand for diversified asset allocation in a low-interest-rate environment [4]. Sector Analysis - The financial, cyclical, and consumer sectors are showing stable growth, with significant performance expected from brokerage and insurance stocks due to favorable market conditions [4]. - The coal sector has experienced a surge, driven by supply concerns from both domestic and international sources, alongside increasing demand for winter stockpiling [6]. Fund Performance - The BoShi Hong Kong Dividend ETF has reached a new high in scale at 5.806 billion, reflecting strong investor interest [7]. - The ETF has also seen a significant inflow of funds, with a total of 3.32 billion in net inflows over the past ten days, indicating robust demand for high dividend yield investments [8].

Core Viewpoint - The company, Haifeng International, reported a significant increase in revenue and container throughput for the nine months ending September 30, 2025, compared to the same period in 2024, indicating strong operational performance and growth in the shipping industry [1]. Financial Performance - Revenue increased by approximately 16.6% from about 2,108.5 million USD for the nine months ending September 30, 2024, to about 2,458.9 million USD for the nine months ending September 30, 2025 [1]. - The average freight rate (excluding slot exchange fee income) rose by about 9.2%, from 691.0 USD per TEU in 2024 to 754.9 USD per TEU in 2025 [1]. Operational Metrics - Container throughput reached 2,749,844 TEUs for the nine months ending September 30, 2025, representing an increase of approximately 7.8% from 2,550,463 TEUs in the same period of 2024 [1].

Core Viewpoint - The company reported a significant increase in revenue and container throughput for the nine months ending September 30, 2025, compared to the same period in 2024 [1] Financial Performance - Revenue increased from approximately $2.1085 billion for the nine months ending September 30, 2024, to about $2.459 billion for the same period in 2025, representing a growth of approximately 16.6% [1] - The average freight rate (excluding slot exchange fee income) rose to $754.9 per TEU in the nine months ending September 30, 2025, up from $691.0 per TEU in the same period of 2024, marking an increase of about 9.2% [1] Operational Metrics - The company's container throughput reached 2.7498 million TEUs for the nine months ending September 30, 2025, which is an increase of approximately 7.8% from 2.5505 million TEUs in the same period of 2024 [1]

Core Insights - The company, Haifeng International, reported a revenue increase of approximately 16.6%, rising from about $2.1085 billion for the nine months ending September 30, 2024, to approximately $2.459 billion for the nine months ending September 30, 2025 [1] Revenue Performance - Revenue for the nine months ending September 30, 2025, is approximately $2.459 billion, up from $2.1085 billion in the same period of 2024, reflecting a growth of about 16.6% [1] Container Volume - The total container volume for the nine months ending September 30, 2025, reached 2.7498 million TEUs, which is an increase of approximately 7.8% compared to 2.5505 million TEUs in the same period of 2024 [1] Average Freight Rate - The average freight rate (excluding slot exchange fee revenue) for the nine months ending September 30, 2025, was $754.9 per TEU, representing an increase of about 9.2% from $691.0 per TEU in the same period of 2024 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 SITC International Holdings Company Limited 1308 (1)截至二零二五年九月三十日止九個月的未經審核經營數據 及 (2)有關二零二四年年報的補充公告 截至二零二五年九月三十日止九個月的未經審核經營數據 於年報日期，根據股份計劃可發行的股份總數為264,347,788股，相當於本公 司於該日期已發行股本約9.84%。 承董事會命 海豐國際控股有限公司 海豐國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董 事」）會（「董事會」）謹此公佈本集團截至二零二五年九月三十日止九個月的若干 未經審核經營數據及二零二四年同期的比較數字。 本集團的收入由截至二零二四年九月三十日止九個月的約2,108.5百萬美元增加 約16.6%至截至二零二五年九月三十日止九個月的約2,458.9百萬美元。截至二 零二五年九月三十日止九個月，本集團的集裝箱運量為2,749 ...

来源：新浪基金∞工作室 流动性方面，截止10月23日，港股红利低波ETF（159569）近20个交易日累计成交金额8.08亿元，日均 成交金额4038.54万元；今年以来，194个交易日，累计成交金额76.44亿元，日均成交金额3940.14万 元。 港股红利低波ETF（159569）现任基金经理为龚丽丽、汪洋。龚丽丽自2024年8月29日管理（或拟管 理）该基金，任职期内收益38.86%；汪洋自2025年8月13日管理（或拟管理）该基金，任职期内收 益-1.16%。 最新定期报告显示，港股红利低波ETF（159569）重仓股包括东方海外国际、中远海控、兖煤澳大利 亚、兖矿能源、海丰国际、中国宏桥、中国石油化工股份、中国海洋石油、民生银行、中国光大银行， 持仓占比如下。 股票代码股票名称持仓占比持仓股数（股）持仓市值（元）00316东方海外国际9.65%13.35万1624.08万 01919中远海控7.14%96.65万1202.23万03668兖煤澳大利亚5.43%33.89万913.27万01171兖矿能源 4.73%111.80万796.28万01308海丰国际4.36%32.00万733.94万01 ...

Core Viewpoint - The Hong Kong High Dividend ETF (159302) has shown a slight increase in its closing price, with a notable decrease in both its share count and total size since the beginning of the year [1][2]. Group 1: Fund Performance - The Hong Kong High Dividend ETF (159302) closed at a gain of 0.15% on October 21, with a trading volume of 8.2798 million yuan [1]. - The fund was established on August 23, 2024, with an annual management fee of 0.50% and a custody fee of 0.10% [1]. - As of October 20, 2024, the fund's latest share count was 84.7976 million, and its total size was 112 million yuan, reflecting a decrease of 22.06% in share count and 7.17% in total size since December 31, 2024 [1]. Group 2: Liquidity and Trading Activity - Over the last 20 trading days, the cumulative trading amount for the ETF was 21.8 million yuan, with an average daily trading amount of 10.8783 million yuan [1]. - Since the beginning of the year, the ETF has recorded a cumulative trading amount of 2.371 billion yuan over 192 trading days, averaging 12.348 million yuan per day [1]. Group 3: Fund Holdings - The current fund manager is Zhang Yichi, who has managed the fund since its inception, achieving a return of 30.94% during his tenure [2]. - Major holdings in the ETF include China COSCO Shipping, Yancoal Australia, and China National Offshore Oil, with respective holding percentages of 8.68%, 6.17%, and 3.19% [2].