Group 1 - The core viewpoint of the articles highlights the strong performance of Hong Kong dividend assets, particularly the Hong Kong Dividend ETF (513820), which has seen significant gains and increased trading volume [1][4] - The Hong Kong Dividend ETF (513820) has a notable increase in its constituent stocks, with Agricultural Bank rising by 2.88% and China CITIC Bank by 1.9%, reaching historical highs [3] - Southbound funds have significantly increased their purchases of Hong Kong bank stocks, indicating a strong preference for high-dividend assets among investors [3] Group 2 - The dividend yield of the Hong Kong Dividend ETF (513820) is reported at 8.2%, which remains competitive even after accounting for a 20% dividend tax [8][12] - The cash dividend ratio for Hong Kong stocks is 48.9% in 2023, surpassing the 41.8% ratio of A-shares, indicating a more favorable long-term trend for Hong Kong dividend assets [6] - The proportion of stocks with a dividend yield above 5% in the Hong Kong market is 43%, significantly higher than the 21% in the A-share market [6] Group 3 - The performance of Hong Kong dividend assets has shown a higher probability of generating excess returns compared to A-shares across various market conditions, with a 75% chance of positive excess returns [10][12] - From 2019 to 2024, Hong Kong dividend assets have consistently outperformed A-shares, achieving excess returns in five out of six years [12] - The valuation of Hong Kong stocks is lower compared to A-shares, providing a greater margin of safety for investors [13]

Group 1 - The core viewpoint is that dividend assets in the Hong Kong stock market are gaining attention due to their defensive attributes amid market uncertainties and performance disclosure periods [1] - The Hong Kong Dividend ETF (159331) has risen over 1.2%, reflecting the market's focus on high-dividend assets as a stable investment option [1] - The Hong Kong Dollar has recently touched the strong-side convertibility guarantee, indicating investor enthusiasm for Hong Kong or RMB assets [1] Group 2 - The Hong Kong Dividend ETF tracks the Hong Kong Stock Connect High Dividend Index (code: 930914), which selects listed companies with high dividend yields available for trading through the Stock Connect [1] - The index primarily covers sectors such as transportation, resources, and consumer goods, aiming to reflect the overall performance of high-dividend Hong Kong stocks [1] - Investors without stock accounts can consider the Cathay CSI Hong Kong Stock Connect High Dividend Investment ETF Initiated Link A (022274) and Link C (022275) [1]