Group 1 - Billionaire hedge fund manager Bill Ackman is accelerating the IPO plans for his Pershing Square Capital Management, with discussions already underway with advisors and some fund investors [1] - The IPO is expected to seek a listing as early as the first quarter of 2026, although negotiations are still in preliminary stages and may be postponed due to market conditions [1] - Ackman has been preparing for the IPO for several years, with a previous private equity transaction valuing the company at over $10 billion, seen as a precursor to the IPO [1] Group 2 - Ackman previously aimed to list a similar fund, Pershing Square America, on the New York Stock Exchange, targeting to raise up to $25 billion but only managed to raise about $2 billion before temporarily canceling the plan [2] - In May of this year, Pershing Square increased its stake in Howard Hughes Corporation to nearly 47%, planning to transform it into an insurance company and expand it into a holding group for other listed and unlisted companies [2] - Ackman compares this strategy to Warren Buffett's model with Berkshire Hathaway, which benefits from low-cost funding through insurance company shares [2]

Core Points - The Ping An CSI A500 Dividend Low Volatility ETF will be listed on the Shanghai Stock Exchange on September 5, 2025 [19] - The fund's minimum subscription and redemption unit is set at 1 million shares, which may be adjusted based on market conditions and investor demand [5][11] - The fund management company has the authority to set limits on daily subscription and redemption amounts to protect existing investors' interests [2][4] Subscription and Redemption Process - Investors must submit subscription and redemption requests during the specified business hours on trading days [13] - The subscription fee charged by brokers can be up to 0.5%, which includes related fees from exchanges and settlement agencies [3][6] - The fund management company will disclose the net asset value of the fund at least once a week after the fund contract becomes effective [9] Fund Management and Disclosure - The fund management company is responsible for managing the fund assets with diligence and integrity, but it does not guarantee profits or minimum returns [20] - Any changes to the subscription and redemption rules will be announced in accordance with the relevant disclosure regulations [16][18] - Investors can find detailed information about the fund in the fund contract and prospectus available on the management company's website [11]

Group 1 - The announcement details the listing of the Fullgoal CSI Hong Kong Stock Connect High Dividend ETF on August 14, 2025, on the Shenzhen Stock Exchange [1] - The fund manager assures that the information in the listing announcement is accurate and complete, taking responsibility for any misrepresentation [1] - Investors can access the full listing announcement on the company's website and the China Securities Regulatory Commission's fund disclosure website [1] Group 2 - The Fullgoal Fund Management Company is convening a meeting for the fund holders of the Fullgoal CSI Communication Equipment Theme ETF to discuss changing the fund's custodian and amending the fund contract [3][6] - The meeting will be held via communication methods, with voting starting from August 12, 2025, to September 10, 2025 [4][6] - The rights registration date for fund holders to participate in the meeting is August 11, 2025 [6] Group 3 - The proposed agenda for the meeting includes changing the custodian of the fund to Huatai Securities Co., Ltd. and revising the fund contract [21][22] - The resolution requires approval from at least two-thirds of the voting rights represented by the fund holders [15][22] - If the proposal is approved, the fund management will modify the fund contract and disclose the updated documents accordingly [18][22]