Core Viewpoint - The Hong Kong Dividend ETF (159331) announced a dividend of 0.3% for this month, with the record date on August 5 and the payment date on August 8 [1]. Group 1: Fund Performance and Investment Strategy - The Hong Kong Dividend ETF (159331) saw a net inflow of 2 million units today, indicating active investment in Hong Kong dividend assets [2]. - Huachuang Securities highlighted that high-dividend sectors in Hong Kong stocks are attractive due to their stable free cash flow generation, which supports dividend capabilities and shareholder returns [2]. - Companies with abundant free cash flow can maintain dividend performance while also enhancing return on equity (ROE) through capital expenditures, offering both defensive and growth characteristics [2]. - Traditional sectors such as banking, ports, and highways are favored for their stable earnings and dividends, especially in a low-interest-rate environment [2]. - Industrial metals benefit from inventory destocking and demand recovery, while telecom operators are experiencing accelerated free cash flow release due to maturing projects and increasing industry penetration [2]. - The valuation of Hong Kong stocks is lower compared to A-shares, and a higher proportion of foreign investment makes them more attractive for international capital allocation, particularly in a weakening dollar environment [2]. Group 2: Dividend Distribution Principles - The fund's distribution principle includes cash dividends, with the management evaluating excess returns relative to benchmarks and available distributable profits for potential distributions [4]. - The fund can distribute profits monthly if the net asset value growth exceeds the benchmark or if distributable profits are positive [4]. - The fund's dividend distribution does not require prior loss compensation, and the net asset value may fall below par after distribution [4]. - Each fund share has equal distribution rights, and any specific regulations from legal or regulatory bodies will take precedence [4].