Fund Overview - The fund is named "Huaxia National General Aviation Industry Exchange-Traded Open-Ended Index Securities Investment Fund Initiated Link Fund" [9] - The fund is a contract-based open-ended stock ETF link fund with an indefinite duration [9] - The initial face value and subscription price for both A and C class fund shares are set at 1.00 RMB [16] Fund Subscription Details - The total fundraising cap for the initial subscription is set at 8 billion RMB, with a "last day proportion confirmation" method for controlling the scale [12][13] - The subscription period is from August 4, 2025, to August 8, 2025, and may be adjusted based on subscription conditions [19] - Investors can only apply for subscription through designated sales institutions and must ensure that their funds are legally sourced [2][20] Fund Share Classes - The fund offers two classes of shares: A class, which charges a front-end subscription fee, and C class, which does not charge any subscription fees [3][11] - A class shares have a front-end subscription fee that decreases with the amount subscribed, while C class shares are fee-free [21][22] Fund Management and Custody - The fund is managed by Huaxia Fund Management Co., Ltd., and the custodian is Guotai Haitong Securities Co., Ltd. [1][53] - The fund management company has the authority to adjust the fundraising arrangements as necessary [8] Investor Eligibility and Requirements - The fund is open to individual investors, institutional investors, qualified foreign investors, and other investors permitted by law [17] - Investors must open a fund account and a trading account with the sales institution before subscribing [20][27] Fund Performance Tracking - The fund aims to closely track the performance of the underlying index of the target ETF, which it primarily invests in [9][10] - Differences in performance between the fund and the target ETF may arise due to regulatory investment ratio requirements and the impact of subscription and redemption [10]

Core Viewpoint - The article discusses the recent performance of the aviation and defense sectors, highlighting the development of low-altitude economy and its implications for investment opportunities in the general aviation industry [1][2]. Group 1: Market Performance - On June 17, major indices experienced a collective pullback, with the General Aviation ETF (159230) declining by 0.39% and the Aerospace ETF (159227) falling by 0.19% [1]. - The holdings within the General Aviation ETF showed mixed results, with stocks like Lijun Co., Ltd. and Lianchuang Optoelectronics facing significant declines, while stocks such as Chenxi Aviation and Xinchen Technology remained relatively strong [1]. Group 2: Policy and Economic Development - On May 30, the National Postal Administration issued guidelines to accelerate technological development in the postal industry, emphasizing the need for drone research in areas like branch transportation and last-mile delivery [1]. - The low-altitude economy is defined as activities involving manned and unmanned aerial vehicles operating below 1,000 meters, extending up to 3,000 meters, which is expected to drive the integration of various related sectors [1]. Group 3: Investment Opportunities - The General Aviation ETF (159230) tracks the National General Aviation Industry Index, focusing on leading companies in the general aviation and low-altitude economy sectors, with a low-altitude economy content of 84.7% and defense industry content of 58.6% [2]. - The Aerospace ETF (159227) targets the military aerospace sector, with a defense industry weight of 99%, making it the purest military ETF in the market [2].

Fund Overview - The fund is named "Huaxia National Index General Aviation Industry Exchange-Traded Fund" and is classified as a stock-type ETF [12][2] - The fund's initial share value is set at 1.00 RMB, with the same price for subscription [13][23] - The fund is managed by Huaxia Fund Management Co., Ltd., and the custodian is Guotai Haitong Securities Co., Ltd. [2][12] Subscription Details - The subscription period for the fund is from May 7, 2025, to May 16, 2025 [20][3] - The total fundraising cap for the fund is set at 8 billion RMB, excluding interest accrued during the fundraising period [11][16] - Investors can subscribe through online cash subscription or offline cash subscription methods [20][19] Subscription Process - Investors must have a Shenzhen Stock Exchange A-share account or a securities investment fund account to participate in the subscription [3][25] - For online cash subscriptions, a minimum of 1,000 shares must be subscribed for each transaction, while offline cash subscriptions require a minimum of 50,000 shares [4][22] - Subscription fees are applicable, with a maximum rate of 0.80% based on the subscription amount [22][23] Fund Management and Operations - The fund will adopt a full replication strategy and appropriate alternative strategies to track the National Index General Aviation Industry Index [8] - The fund is designed to invest in stocks, stock options, index futures, and other financial derivatives, which may expose it to various risks [9][10] - The fund's management has the authority to adjust the subscription arrangements based on market conditions [15][44] Investor Information - Investors are required to ensure that the funds used for subscription are legally sourced and available for their use [4][4] - The fund's detailed information, including the fund contract and prospectus, will be available on the management company's website [6][6] - Investors can contact the management company for any inquiries regarding the fund [44][49]