Group 1 - The core index, the China Securities Hong Kong 300 Relative Value Index (HK300RV), reported a value of 2213.53 points, with a one-month increase of 6.09%, a three-month increase of 18.15%, and a year-to-date increase of 27.97% [1] - The index is composed of four sub-indices: the China Securities Hong Kong 300 Growth Index, the China Securities Hong Kong 300 Value Index, the China Securities Hong Kong 300 Relative Growth Index, and the China Securities Hong Kong 300 Relative Value Index, reflecting the performance of different style securities based on the China Securities Hong Kong 300 Index sample [1] - The top ten holdings of the HK300RV index include HSBC Holdings (15.79%), China Construction Bank (8.93%), Alibaba-W (5.12%), China Mobile (4.78%), Industrial and Commercial Bank of China (4.73%), Ping An Insurance (3.74%), Bank of China (3.47%), Xiaomi Group-W (2.3%), China National Offshore Oil Corporation (2.24%), and China Merchants Bank (2.17%) [1] Group 2 - The industry composition of the index shows that finance accounts for 52.27%, communication services for 8.65%, consumer discretionary for 7.64%, real estate for 6.69%, energy for 5.85%, information technology for 5.39%, industrials for 3.92%, utilities for 3.48%, healthcare for 2.26%, consumer staples for 2.18%, and materials for 1.67% [2] - The index samples are adjusted biannually, with adjustments implemented on the next trading day after the second Friday of June and December each year, with a sample adjustment ratio generally not exceeding 20% [2] - In the event of temporary adjustments, the index samples will be adjusted accordingly when the China Securities Hong Kong 300 Index undergoes sample changes, and any delisted samples will be removed from the index [2]

数据统计显示，中证全指机械制造指数近一个月上涨7.46%，近三个月上涨12.41%，年至今上涨 16.82%。 据了解，为反映中证全指指数样本中不同行业公司证券的整体表现，为投资者提供分析工具，将中证全 指指数样本按中证行业分类分为11个一级行业、35个二级行业、90余个三级行业及200余个四级行业， 再以进入各一、二、三、四级行业的全部证券作为样本编制指数，形成中证全指行业指数。该指数以 2004年12月31日为基日，以1000.0点为基点。 金融界7月28日消息，上证指数高开震荡，中证全指机械制造指数(机械制造，H30166)报7853.53点。 从中证全指机械制造指数持仓样本的行业来看，电动机与工控自动化占比18.73%、其他专用机械占比 13.76%、工程机械占比11.71%、商用车占比9.39%、船舶及其他航运设备占比8.26%、城轨铁路占比 6.48%、其他通用机械占比6.02%、气液机械占比5.03%、仪器仪表占比4.75%、动力机械占比3.76%、采 矿冶金机械占比3.24%、楼宇设备占比2.17%、加工机械占比2.14%、化工机械占比1.31%、纺织服装机 械占比1.12%、印刷包装机械占比 ...

Group 1 - The core viewpoint of the news is the performance of the China Securities Hong Kong 300 Value Index, which has shown significant growth over various time frames, indicating a positive market trend [1][2]. - The China Securities Hong Kong 300 Value Index has increased by 6.54% in the past month, 18.03% in the past three months, and 22.11% year-to-date [1]. - The index is composed of four sub-indices: the China Securities Hong Kong 300 Growth Index, the China Securities Hong Kong 300 Value Index, the China Securities Hong Kong 300 Relative Growth Index, and the China Securities Hong Kong 300 Relative Value Index [1]. Group 2 - The top ten holdings of the China Securities Hong Kong 300 Value Index include major companies such as China Construction Bank (10.36%), HSBC Holdings (9.8%), and China Mobile (7.29%) [1]. - The financial sector dominates the index's industry composition, accounting for 59.00%, followed by communication services at 10.98% and energy at 10.50% [2]. - The index undergoes semi-annual adjustments, with sample changes implemented on the next trading day after the second Friday of June and December [2].

Core Viewpoint - The article discusses the rising popularity and significance of ETFs in the Chinese capital market, highlighting their role as a key investment tool and the evolving landscape of fund management companies focusing on ETF products [1][5][60]. Group 1: Market Trends - The Shanghai Composite Index is approaching the 3600-point mark, igniting investor enthusiasm [1]. - A-share trading volume has consistently exceeded 1 trillion, reaching 1.5 trillion recently, indicating strong market activity [2]. - Investors are increasingly turning to index tracking as a convenient way to participate in market trends [3]. Group 2: ETF Growth and Demand - ETFs have become a benchmark for assessing the strength of fund management companies, with many top-ranked firms benefiting from ETF offerings [5][6]. - As of Q3 2024, 87.5% of individual investors expressed willingness to invest in index funds, reflecting a growing acceptance of ETFs [6]. - Globally, passive index funds account for over 60% of the market in the U.S., indicating a shift towards index-based investing [8]. Group 3: Competitive Landscape - The ETF industry is characterized by a significant head effect, with the top twelve companies managing over 80% of the total scale [14]. - As of June 30, 2025, the top five fund companies control over 50% of the ETF market, demonstrating the competitive nature of the sector [14][16]. - The article emphasizes that understanding the ETF's significance and creating effective investment tools for clients is crucial for fund companies [11][12]. Group 4: Case Study - Harvest Fund - Harvest Fund has been proactive in the ETF space since the launch of the CSI 300 Index in 2005, releasing the first ETF tracking this index [19][21]. - As of July 4, 2025, the Harvest CSI 300 ETF has reached a scale of 1710.7 billion, ranking fourth among all ETFs [22]. - The fund has consistently launched innovative ETFs, including those focused on sectors like technology and healthcare, positioning itself as a leader in the market [22][24]. Group 5: Investment Strategy and Innovation - Harvest Fund views ETFs as tools for simplifying investment strategies and capturing industry trends, rather than merely low-cost options [24][38]. - The fund has developed a range of ETFs targeting key industries, such as semiconductors and AI, to capitalize on emerging opportunities [30][31]. - The article highlights the importance of a deep understanding of market cycles and trends in developing successful ETF products [27][39]. Group 6: Future Outlook - The ETF market is expected to continue evolving, with a focus on meeting diverse investor needs and enhancing product offerings [40][44]. - Harvest Fund aims to create a comprehensive ecosystem around ETFs, integrating research, product development, and investor education [54][60]. - The ultimate goal is to provide accessible solutions for capturing economic growth and industry opportunities through ETFs [60].

Group 1 - The core index, the CSI Tencent Ji'an Value 100 A-Share Index, closed down 0.43% at 3153.74 points with a trading volume of 80.114 billion yuan [1] - The index has increased by 9.47% in the past month, 12.77% in the past three months, and 10.45% year-to-date [1] - The index is based on a sample of 100 listed companies evaluated for investment value by Tencent and Ji'an Jinxin, providing diverse investment options [1] Group 2 - The top ten weighted stocks in the index include Taotao Automotive (1.54%), Zhongji United (1.29%), Huaguang Huaneng (1.28%), and others [1] - The index's holdings are primarily from the Shanghai Stock Exchange (64.89%) and Shenzhen Stock Exchange (35.11%) [1] - The industry composition of the index shows that industrials account for 28.27%, consumer discretionary for 18.10%, and materials for 12.53% [2] Group 3 - The index samples are adjusted biannually, with changes implemented on the next trading day after the second Friday of June and December [2] - In special circumstances, the index may undergo temporary adjustments, such as when a sample company is delisted or undergoes mergers [2] - Public funds tracking the Tencent Ji'an index include the Galaxy Regular Investment Fund [3]

在权益基金中，股票型基金规模在二季度增长2711.47亿元，最新规模达4.74万亿元。混合型基金则环比 微增0.02%至3.32万亿元。 不过在二季度以来，全球资本市场风险资产的回调，和一些短期过热结构性板块的获利了结，让以主动 权益产品为首的基金份额有所缩减。数据显示，二季度所有主动权益型基金累计被净赎回1073.38亿 份。其中，普通股票型基金净赎回179.61亿份，以4.75%的比例在所有基金品类中位居首位，混合型基 金的净赎回比例则为3.28%。 7月21日，2025年公募基金二季报正式完成披露完毕。 天相投顾数据显示，截至6月30日，公募基金全市场规模达到34.05万亿元，创下历史新高。环比一季度 31.81万亿元增长了7.04%，同比2024年二季度27.31万亿元则增长10.76%。同期，非货基金规模则20.11 万亿元，环比2025年一季度18.82万亿增加1.29万亿元，涨幅达6.85%。 截至6月末，全市场公募基金总份额也突破30万亿份，其中相较一季度整体遭遇净赎回的情形，二季度 全公募市场整体获得净申购1.25万亿份，净申购比例4.31%。 从基金产品和基金公司的角度，二季度的公募"成绩 ...

银河沪深 300 价值指数证券投资基金 基金管理人：银河基金管理有限公司 基金托管人：中国建设银行股份有限公司 报告送出日期：2025 年 7 月 18 日 银河沪深 300 价值指数证券投资基金 2025 年第 2 季度报告 §1 重要提示 基金管理人的董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 基金托管人中国建设银行股份有限公司根据本基金合同规定，于 2025 年 07 月 15 日复核了本 报告中的财务指标、净值表现和投资组合报告等内容，保证复核内容不存在虚假记载、误导性陈 述或者重大遗漏。 §2 基金产品概况 基金简称 银河沪深 300 价值指数 基金合同生效日 2009 年 12 月 28 日 报告期末基金份额总额 1,262,675,488.01 份 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利。 基金的过往业绩并不代表其未来表现。投资有风险，投资者在作出投资决策前应仔细阅读本 基金的招募说明书。 本报告中财务资料未经审计。 本报告期自 2025 年 04 月 01 日起至 06 ...

Core Points - The China Securities Index Hong Kong 300 Relative Value Index (HK300RV) reported a value of 2131.06 points, with a monthly increase of 3.41%, a three-month increase of 18.92%, and a year-to-date increase of 23.20% [1] - The index consists of four sub-indices: the China Securities Index Hong Kong 300 Growth Index, the China Securities Index Hong Kong 300 Value Index, the China Securities Index Hong Kong 300 Relative Growth Index, and the China Securities Index Hong Kong 300 Relative Value Index, reflecting different style securities based on the Hong Kong 300 Index sample [1] Company Holdings - The top ten holdings of the HK300RV Index are: HSBC Holdings (15.76%), China Construction Bank (9.33%), Alibaba-W (5.02%), China Mobile (5.01%), Industrial and Commercial Bank of China (4.99%), Bank of China (3.64%), Ping An Insurance (3.57%), Xiaomi Group-W (2.41%), China National Offshore Oil Corporation (2.29%), and China Merchants Bank (2.17%) [1] - The index's holdings are entirely composed of stocks listed on the Hong Kong Stock Exchange, with a market sector allocation of 100.00% [1] Industry Composition - The industry composition of the HK300RV Index shows that finance accounts for 52.58%, communication services for 8.90%, consumer discretionary for 7.50%, real estate for 6.57%, energy for 5.84%, information technology for 5.32%, industrials for 3.84%, utilities for 3.51%, consumer staples for 2.20%, healthcare for 2.16%, and materials for 1.58% [2] - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December each year, with a sample adjustment limit of no more than 20% [2]

Group 1 - The Shanghai Composite Index opened lower but rose, with the SSE 50 Equal Weight Index increasing by 0.26% to 2118.58 points and a trading volume of 74.646 billion yuan [1] - The SSE 50 Equal Weight Index has risen by 2.20% in the past month, 2.43% in the past three months, and has decreased by 0.25% year-to-date [1] - The SSE 50 Equal Weight Index selects 50 representative listed companies in the Shanghai securities market based on market capitalization and liquidity, reflecting the performance of influential leading enterprises [1] Group 2 - The top ten holdings in the SSE 50 Equal Weight Index include WuXi AppTec (2.37%), Bank of China (2.32%), Bank of Communications (2.31%), Agricultural Bank of China (2.19%), Industrial and Commercial Bank of China (2.15%), LONGi Green Energy (2.14%), China Shipbuilding (2.13%), Zijin Mining (2.11%), China State Construction (2.11%), and Luoyang Molybdenum (2.11%) [1] - The industry composition of the SSE 50 Equal Weight Index shows that finance accounts for 25.16%, industrials 18.15%, information technology 13.44%, materials 8.18%, energy 7.65%, consumer discretionary 5.81%, communication services 5.76%, consumer staples 5.63%, healthcare 4.42%, utilities 3.89%, and real estate 1.90% [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December, with a sample adjustment ratio generally not exceeding 10% [2]

Group 1 - The core index of the A-share market, the CSI 1000 Consumer Discretionary Index, closed at 4595.61 points, showing mixed performance among the three major indices [1] - The CSI 1000 Consumer Discretionary Index has increased by 2.41% in the past month, 5.35% in the past three months, and 4.51% year-to-date [2] - The CSI 1000 index series selects liquid and representative securities from each industry to form 10 industry indices, providing investors with diversified investment options [2] Group 2 - The top ten holdings of the CSI 1000 Consumer Discretionary Index include: Silver Wheel Holdings (3.34%), Longxin General (2.85%), Shuanglin Shares (2.65%), Qianli Technology (2.61%), Wancheng Group (2.53%), Fulim Precision (2.27%), Kids Wang (1.93%), Weifu High-Tech (1.92%), Huamao Technology (1.86%), and Jihua Group (1.80%) [2] - The market capitalization distribution of the CSI 1000 Consumer Discretionary Index shows that the Shenzhen Stock Exchange accounts for 60.41%, while the Shanghai Stock Exchange accounts for 39.59% [2] - The industry composition of the CSI 1000 Consumer Discretionary Index includes: Passenger vehicles and parts (54.82%), Durable consumer goods (15.94%), Retail (14.06%), Textiles, clothing, and jewelry (10.36%), and Consumer services (4.82%) [2] Group 3 - The index sample is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December each year [3] - In special circumstances, the index may undergo temporary adjustments, such as when a sample company is delisted or undergoes mergers, acquisitions, or splits [3] - When the CSI 1000 index adjusts its samples, the corresponding adjustments will also be made to the CSI 1000 industry indices [3]