Core Points - The company announced a cash dividend of 0.035 CNY per share (before tax) for its shareholders [1][2] - The total cash dividend distribution amounts to 7,500,969 CNY (before tax) based on a total share capital of 214,313,400 shares [2] - The dividend distribution plan was approved at the annual shareholders' meeting held on May 27, 2025 [1] Dividend Distribution Dates - The record date for the cash dividend is June 20, 2025, with the last trading day on June 23, 2025, and the ex-dividend date also on June 23, 2025 [1][2] Dividend Payment Method - The cash dividends will be distributed through China Securities Depository and Clearing Corporation Limited Shanghai Branch to shareholders registered by the record date [2] - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [2] Taxation on Dividends - For individual shareholders and securities investment funds, the company will not withhold personal income tax on the dividends, with the actual cash dividend being 0.035 CNY per share [3] - Tax liabilities will be calculated based on the holding period of the shares, with different tax rates applicable [3] - For shareholders holding restricted shares, the actual cash dividend after tax will be 0.0315 CNY per share [4][5] Contact Information - For inquiries regarding the equity distribution, shareholders can contact the company's securities department at 0519-88810098 [5]

Core Points - The company announced a cash dividend distribution of RMB 0.19931 per share (including tax) for its A shares [1] - The total cash dividend to be distributed amounts to approximately RMB 2.34 billion [1] - The dividend distribution plan was approved at the annual shareholders' meeting held on May 16, 2025 [1] Dividend Distribution Details - The record date for the dividend is June 20, 2025, with the ex-dividend date and payment date both set for June 23, 2025 [1] - The company will distribute cash dividends through China Securities Depository and Clearing Corporation Limited, Shanghai Branch [1] - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [1] Taxation Information - For individual shareholders holding shares for one month or less, the tax rate on dividends is 20%; for those holding between one month and one year, the tax rate is 10%; and for those holding for over one year, no tax is applied [2] - Qualified Foreign Institutional Investors (QFII) will receive a net cash dividend of RMB 0.17938 per share after a 10% withholding tax [3][4] - The company will not withhold personal income tax at the time of dividend distribution; instead, it will calculate the tax based on the holding period when shares are transferred [2]

Core Viewpoint - The market continues to experience fluctuations, but the dividend-themed ETFs, particularly the Low Volatility Dividend ETF (512890), are attracting significant capital inflows due to their stable fundamentals and defensive attributes [1][2]. Group 1: Market Performance and Fund Inflows - The Low Volatility Dividend ETF (512890) has seen a net inflow of 5.11 billion yuan over four trading days from June 16 to June 19, achieving a total fund size of 180.89 billion yuan, marking a new high since its inception [1]. - The ETF has consistently generated positive returns since its establishment in 2018, making it an attractive option for long-term capital seeking value in a volatile investment environment [2]. Group 2: Regulatory Environment and Investment Trends - Recent regulatory policies encouraging cash dividends from listed companies and promoting long-term capital inflows are contributing to the growing appeal of the Low Volatility Dividend ETF [1]. - The narrowing premium between A-shares and H-shares is expected to align the overall valuation and dividend yield differences, further enhancing the attractiveness of dividend investments [1]. Group 3: Fund Management and Historical Performance - Huatai-PineBridge Fund, a pioneer in ETF management in China, has over 18 years of experience in dividend index investment, having launched multiple dividend-themed ETFs since 2006 [3]. - As of June 19, the total management scale of Huatai-PineBridge's dividend-themed ETFs has surpassed 40.6 billion yuan [3].

Core Viewpoint - The Hua Tai Pai Rui Dividend Low Volatility ETF (512890) has reached a record high in scale, reflecting strong investor demand for stable assets in the current market environment characterized by low interest rates and volatility [1][4]. Group 1: ETF Performance and Scale - As of June 20, the ETF rose by 0.42% to a price of 1.182 yuan, with a trading volume of 1.30 billion yuan [1]. - Year-to-date, the ETF has increased by 5.16%, and its 250-day increase is nearly 10% [1]. - The scale of the ETF reached 180.89 billion yuan on June 19, marking a 31.5% increase from 137.495 billion yuan on December 31, 2024 [1]. - Since the beginning of 2025, the scale has grown by 4.3 billion yuan, positioning it as a "fund magnet" in a volatile market [1]. Group 2: Investment Appeal - The ETF's high dividend yield of 6.21% and a low volatility characteristic make it an attractive option for investors seeking stable returns in a declining interest rate environment [2][3]. - The 10-year government bond yield has dropped to 1.64%, creating a significant yield spread of 3.96% compared to the ETF's dividend yield, placing it in the 93.35th percentile over the past decade [2]. Group 3: Underlying Factors Supporting Growth - The ETF has demonstrated a three-year annualized return of 13.59% with a maximum drawdown of -13.61%, showcasing its stability during market fluctuations [3]. - The ETF tracks the CSI Dividend Low Volatility Index, which employs a dual-factor stock selection strategy focusing on high dividends and low volatility, with significant representation from the financial sector [3]. - Regulatory support for increased dividend payouts from listed companies has bolstered the ETF's appeal, with many of its constituent stocks exhibiting strong dividend capabilities [4]. - The ETF's off-market linked funds have achieved monthly dividends for 21 consecutive months, making them among the most frequent dividend-paying ETF linked funds in the market [4].

Core Viewpoint - In the current volatile market environment, investors are increasingly focused on how to achieve stable asset appreciation, particularly in a context of declining interest rates and rising market uncertainty. The search for asset allocation strategies that provide stable cash flow and effectively mitigate market risks has become a common concern among various investors. The dividend low-volatility strategy, characterized by "high dividend yield and low volatility," is gaining attention as a potential solution to these challenges [1]. Interest Rate Environment - The global economy has largely entered a low or even negative interest rate era, with significant reductions in deposit rates by major banks in China. For instance, as of May 20, 2025, the interest rate for one-year fixed deposits fell below 1%, and the average interest rate for current deposits dropped to 0.05% [2]. This environment has compressed the yields of traditional fixed-income products, leading to a scarcity of stable assets, while dividend assets are becoming increasingly attractive due to their stable cash flow and higher dividend yields [2]. Policy Support - Regulatory bodies have intensified their focus on corporate dividend policies, with the introduction of measures linking dividend payouts to financing qualifications and shareholder behavior. For example, the "New National Nine Articles" issued in April 2024 aims to enhance shareholder return awareness among listed companies [3]. Additionally, new rules effective from January 1, 2025, will impose penalties on companies with low dividend payouts, further encouraging higher dividend distributions [3][4]. Fund Flow Dynamics - There is a notable shift in fund preferences towards dividend assets, driven by both policy support and changes in market dynamics. Long-term funds, such as insurance and pension funds, are increasingly allocating capital to high-dividend assets, with projections indicating an influx of approximately 600 billion to 800 billion yuan over the next three years [6]. This trend is expected to enhance the valuation of dividend assets and benefit related funds, such as the TaiKang Dividend Low-Volatility ETF [6]. Market Conditions - The current A-share market is characterized by volatility, influenced by international trade tensions and geopolitical risks. Despite maintaining stable growth, domestic economic indicators show signs of weakening, leading to a challenging investment environment. In this context, dividend low-volatility assets are positioned as a strategic choice for investors seeking stability and returns [19][20]. Investment Strategy - The dividend low-volatility strategy combines high dividend yield and low volatility characteristics, providing a robust investment framework. The CSI Dividend Low-Volatility Index selects stocks based on liquidity, consistent dividend payments, and low volatility, aiming to deliver stable returns while minimizing risk [14][15]. This strategy is particularly appealing in turbulent market conditions, as it has historically demonstrated strong defensive capabilities [19][20]. Conclusion - Overall, the combination of supportive policies, increasing fund inflows, and favorable market conditions positions dividend low-volatility assets as an attractive investment opportunity. These assets not only offer stable returns in a low-interest-rate environment but also serve as a defensive strategy in volatile markets, making them a preferred choice for investors seeking to navigate economic cycles effectively [20].

以下文章来源于公募排排网 ，作者康波 公募排排网 . 看财经、查排名、买基金，就上公募排排网，申购费低至0.001折。 本文首发于公众号"公募排排网"。（点击↑↑上图查看详情） 导语 现在低利率环境已成常态，过去几年，利率从高位一路下滑，到底降了多少？当"躺赢"通道变窄，寻找下一个"收益堡垒"已刻不容缓！但那 些在市场中依然坚挺的资产，又在哪里？ 从指数间的对比来看，东证红利低波指数在近 3年有较好的表现。 在近3年累计回报中，东证红利低波指数累计回报较高，同时近3年的最大 回撤又较小，表现出更强的防御特征，综合风险收益后，表现相对较好。 所以，从过往 3年的历史表现来看，东证红利低波指数与市场有产品跟踪的红利指数相比：收益更高、波动更低 。 （ 点此查看详情 ） 那在红利资产中，东证红利低波动指数为何能脱颖而出？ 东证红利低波动指数从沪深A股中选取100只盈利较为稳定、预期股息率较高并具备低波动特征的上市公司股票作为指数样本股，以反映红利 在全球动荡不安、经济波动的当下，哪类资产能够同时满足高股息与低波动的双重需求？今天，我们就来一场深度掘金，寻找那些可能被低 估的投资机遇。（ 点此查看近3年收益同类排名第 ...

Core Viewpoint - The strong performance of dividend assets in the Hong Kong market is driven by sustained net inflows from southbound funds, with a particular focus on high-dividend sectors like banking, as investors seek stability amid economic uncertainties [1][3][7]. Group 1: Market Performance - The Hong Kong dividend ETF (159331) saw an intraday increase of over 1.9%, reflecting ongoing investor interest and net inflows [1]. - Southbound funds have net purchased Hong Kong stocks for 17 consecutive days, with total purchases exceeding 696 billion HKD this year [1]. Group 2: Investment Trends - Institutional investors, particularly long-term funds like insurance capital, are showing a rigid demand for dividend assets, which supports price stability [3]. - The shift in asset allocation from growth to return-focused investments is evident as domestic interest rates decline [3]. Group 3: Index Performance - The CSI Hong Kong Stock Connect High Dividend Yield Total Return Index has the highest Sharpe ratio of 0.4754 among related dividend indices, indicating superior risk-adjusted returns [5]. - The index has demonstrated strong long-term compound returns and dividend reinvestment effects since 2017, outperforming other similar indices [3][5]. Group 4: Policy and Market Environment - Recent policies from the Hong Kong government, including stamp duty reductions and trading mechanism optimizations, aim to enhance market liquidity and attractiveness [7]. - The anticipated dividend tax reforms and improvements in international liquidity further enhance the appeal of dividend strategies in the current market environment [7].

Group 1 - The core viewpoint of the article highlights the positive performance of the China Securities Dividend Index, which rose by 0.2% in early trading, with significant gains from stocks like Shaanxi Coal and Ordos, both increasing over 2% [1] - Over 300 listed companies in A-shares have announced plans for mid-year dividends for 2025, with many providing details on the proportion of profits allocated for dividends and some offering specific dividend proposals [1] - According to CITIC Securities, June marks a favorable time for investing in dividend assets, as many companies distribute dividends during this month, attracting investor interest in dividend yields [1] Group 2 - The China Securities Dividend Index consists of 100 stocks with high cash dividend yields and stable dividends, primarily from the banking, coal, and transportation sectors, which together account for over 55% of the index [1] - The E Fund Dividend ETF (515180) has a low management fee rate of 0.15% per year, making it a cost-effective option for investors looking to invest in dividend assets [1]

Core Viewpoint - The combination of dividend ETFs, specifically the China Securities Dividend ETF (515080) and the China Securities Dividend Quality ETF (159209), is presented as an optimal choice for investors seeking lower volatility, stable cash flow, and long-term growth potential [1][11]. Group 1: China Securities Dividend ETF (515080) - The China Securities Dividend ETF (515080) focuses on high dividend, stable dividend-paying stocks, functioning similarly to "rental assets" [1]. - The ETF has maintained a dividend yield of 5%-7% over the past three years, significantly higher than the 10-year government bond yield [1]. - Since its inception, the ETF has distributed dividends 13 times, with an annual dividend rate ranging from 4.14% to 4.78% from 2019 to 2023, never falling below 4% [4]. - In the last five trading days, the ETF experienced net inflows on four occasions, totaling nearly 150 million, indicating market recognition of its role as a stabilizing asset during volatile periods [6]. Group 2: China Securities Dividend Quality ETF (159209) - The China Securities Dividend Quality ETF (159209) employs a dual screening mechanism of "dividend + quality," selecting 50 companies based on dividend payments and quality indicators like ROE and earnings stability [7]. - This ETF avoids financial and cyclical stocks, providing both defensive characteristics and long-term growth potential, aligning with value investment principles similar to those of Warren Buffett [7]. - The ETF has outperformed the China Securities Dividend ETF in total returns over the past decade, demonstrating strong long-term growth [7]. - The management fee for this ETF is only 0.2% per year, the lowest in its category, which can lead to significant savings over time [9]. Group 3: Investment Strategy - The combination of classic dividends and dividend quality can provide protection during economic downturns and drive returns during economic recoveries [11]. - In a volatile or declining market, increasing the allocation to the China Securities Dividend ETF (515080) can help mitigate fluctuations, while in a rising market, boosting the position in the China Securities Dividend Quality ETF (159209) can capture profit recovery [11].

Core Viewpoint - The Hang Seng High Dividend Yield Index (HSSCHKY) has shown positive performance, with key constituent stocks experiencing notable gains, indicating a favorable investment environment driven by policy adjustments and credit environment recovery [3][4]. Group 1: Market Performance - As of June 20, 2025, the HSSCHKY index increased by 0.54%, with significant gains from stocks such as China Coal Energy (3.23%) and Industrial and Commercial Bank of China (2.16%) [3]. - The BoShi Hang Seng High Dividend ETF (513690) reported a 0.30% increase, with a latest price of 1 yuan and a turnover rate of 2.41%, totaling 101 million yuan in transactions [3]. - Over the past week, the average daily transaction volume for the BoShi ETF was 201 million yuan [3]. Group 2: Fund Flows and Leverage - The BoShi ETF has seen a net inflow of 84.66 million yuan over the last five trading days, with an average daily net inflow of 16.93 million yuan [3][4]. - Leveraged funds have been actively buying into the BoShi ETF, with a maximum single-day net purchase of 336.62 thousand yuan, bringing the latest financing balance to 866.50 thousand yuan [4]. Group 3: Performance Metrics - The BoShi ETF has achieved a net value increase of 33.06% over the past two years, ranking 86 out of 2207 index equity funds [4]. - The ETF's highest monthly return since inception was 24.18%, with an average monthly return of 4.99% during rising months [4]. - As of June 19, 2025, the ETF's Sharpe ratio for the past month was 1.40, indicating strong risk-adjusted returns [4]. Group 4: Fee Structure and Tracking Accuracy - The management fee for the BoShi ETF is 0.50%, and the custody fee is 0.10% [4]. - The tracking error for the ETF over the past six months was 0.067%, demonstrating its effectiveness in tracking the HSSCHKY index [4]. Group 5: Top Holdings - The top ten weighted stocks in the HSSCHKY index account for 27.89% of the index, with notable companies including Yanzhou Coal Mining (0.64%) and Hang Lung Properties (0.30%) [5][7].