Group 1 - The Hong Kong non-bank financial ETF (513750) has seen significant capital inflow, with a net inflow for 19 consecutive trading days, reaching a scale of over 2.7 billion yuan and a share count of 1.932 billion, both hitting new highs since its inception in 2023 [1] - The ETF's unique "insurance + brokerage" dual-track layout is a key factor for its popularity, with the insurance sector accounting for 65.1% of the index, including major companies like Ping An and AIA [1] - The ETF has achieved a year-to-date increase of 23.16%, reflecting strong market interest [1] Group 2 - The index's price-to-earnings ratio is currently at 8.65, which is in the 21st percentile over the past decade, indicating that the valuation is lower than 79% of historical periods [2] - The combination of a 3.14% dividend yield with low valuation creates a rare "undervalued + high dividend" opportunity [2] - The insurance sector is expected to undergo a value reassessment due to declining liability costs driven by the transformation of dividend insurance, while the brokerage sector is benefiting from ongoing mergers and acquisitions [2] Group 3 - The sustained capital inflow reflects investor recognition of the value in the Hong Kong non-bank financial sector, supported by improving domestic economic conditions and a recovery in global liquidity expectations [2] - The ETF's unique industry structure and scarcity, with over 65% weight in insurance companies, positions it as a quality tool for investing in leading non-bank financial stocks in Hong Kong [2] - As foreign capital increasingly seeks to allocate to Chinese assets, the Hong Kong non-bank financial ETF (513750) is expected to continue attracting market attention [2]

Group 1 - The China Securities Hong Kong Stock Connect Non-Bank Financial Theme Index (931024) experienced a decline of 0.56% as of June 12, 2025, with mixed performance among constituent stocks [1] - The Hong Kong Non-Bank ETF (513750) recorded a turnover of 27.29% and a trading volume of 659 million yuan, indicating active market participation [1] - The Hong Kong Non-Bank ETF reached a new high in size at 2.4 billion yuan and in shares at 1.672 billion, both since its inception [1] Group 2 - The top ten weighted stocks in the China Securities Hong Kong Stock Connect Non-Bank Financial Theme Index accounted for 82.79%, with Hong Kong Exchanges and Clearing (00388) being the largest at over 16% [2] - The brokerage sector is expected to see continued growth in self-operated income, supported by performance improvements, mergers, and refinancing, which may enhance net asset scale and ROE [2] - The current favorable policies aimed at stabilizing growth and boosting the capital market are expected to positively influence the securities sector's outlook [2] Group 3 - The Hong Kong Non-Bank ETF (513750) is the first and only ETF tracking the Hong Kong Non-Bank Index, with over 70% of its composition in insurance stocks [3] - The ETF selects up to 50 listed companies that meet the non-bank financial theme criteria from the Hong Kong Stock Connect securities range [3]