Core Viewpoint - The Guoqi Gongying ETF (159719) has shown strong performance with a recent price increase and significant returns over various time frames, indicating a robust investment opportunity in state-owned enterprises in China [1][2]. Performance Summary - As of August 8, 2025, the Guoqi Gongying ETF increased by 0.89%, with a recent price of 1.58 yuan. Over the past month, it has accumulated a rise of 1.10% [1]. - The ETF has achieved a net value increase of 57.35% over the past three years, ranking 81 out of 1836 in the index stock fund category, placing it in the top 4.41% [1]. - The highest monthly return since inception was 14.61%, with the longest consecutive monthly gain being 7 months and a maximum increase of 24.70%. The average monthly return during up months is 4.14%, and the annual profit percentage stands at 100.00% [1]. Liquidity and Trading Activity - The ETF exhibited a turnover rate of 10.22% during trading, with a transaction volume of 8.4367 million yuan, indicating active market participation. The average daily transaction volume over the past year was 16.7552 million yuan [1]. Drawdown and Recovery - The maximum drawdown over the past six months was 8.26%, with a relative benchmark drawdown of 0.29%. The recovery period after drawdown was 60 days, which is the fastest among comparable funds [2]. Fee Structure - The management fee for the Guoqi Gongying ETF is 0.25%, and the custody fee is 0.05%, making it one of the lowest in its category [2]. Tracking Accuracy - The tracking error over the past two months was 0.114%, indicating the highest tracking precision among comparable funds [2]. Index Composition - The ETF closely tracks the FTSE China State-Owned Enterprises Open Win Index, which reflects the performance of state-owned enterprises listed in mainland China and Hong Kong, focusing on globalization and sustainable development. The index comprises 100 constituent stocks, including 80 A-share companies and 20 Hong Kong-listed Chinese companies [2]. Top Holdings - The top holdings in the ETF include: - China Petroleum (601857) with a weight of 15.94% and a rise of 1.38% - China Petrochemical (600028) with a weight of 11.93% and a rise of 0.52% - China State Construction (601668) with a weight of 9.59% and a rise of 0.71% - China Mobile (600941) with a weight of 6.87% and a rise of 1.95% - China Railway (601390) with a weight of 4.53% and a rise of 0.35% [4].