Group 1 - The core viewpoint highlights the increasing attractiveness of Hong Kong dividend assets, particularly in the context of heightened market volatility, showcasing strong performance and long-term allocation value [1] - From a configuration perspective, Hong Kong dividend assets demonstrate remarkable resilience during market fluctuations, with the Hang Seng High Dividend Yield Index achieving a cumulative increase of 27.1% from the beginning of the year to September 18, despite a maximum drawdown of only 12.6%, significantly lower than that of the Hang Seng Index and Hang Seng Tech [1] - Policy measures are enhancing the appeal of dividend assets, with increased dividend payouts from A-share listed companies and supportive government policies, such as the "New National Nine Articles," which emphasize constraints on companies with weak dividend intentions [1] Group 2 - The continuous release of medium to long-term capital allocation demand, particularly from insurance funds, is expected to bring stable inflows into dividend assets, with insurance capital accelerating its layout in the Hong Kong market, having made 20 stake acquisitions in 2024 [2] - The dividend yield of Hong Kong dividend assets is significantly higher than that of A-shares, with the Hang Seng High Dividend Index yielding 6.14% compared to the CSI Dividend Index's 4.86%, indicating superior actual returns even after considering dividend taxes [2] - The Guoxin Hong Kong Stock Connect Central State-Owned Enterprise Dividend ETF tracks the CSI Guoxin Hong Kong Stock Connect Central State-Owned Enterprise Dividend Index, which selects stable dividend-paying central state-owned enterprises, reflecting the overall performance of high dividend yield central enterprises within the Hong Kong Stock Connect [2] Group 3 - Since 2020, the cumulative return of the Guoxin Hong Kong Stock Connect Central State-Owned Enterprise Dividend ETF has reached 37.2%, outperforming core broad-based indices of A/H shares and similar products [3] - The ETF's constituent stocks are concentrated in resource-based industries, such as oil and petrochemicals, telecommunications, and transportation, with a lower proportion in financial and real estate sectors, highlighting its differentiated allocation value [3] - Overall, the Guoxin Hong Kong Stock Connect Central State-Owned Enterprise Dividend ETF presents higher return potential and relatively low-risk characteristics, with a circulation scale reaching 4.92 billion yuan in recent months, indicating market recognition and interest [3]