Group 1 - The core viewpoint of the news highlights the ongoing premium risk and trading suspension of the Invesco Great Wall S&P Consumer Select ETF, with over 150 similar risk alerts issued since November 2024 [1] - The S&P Consumer Select ETF has experienced significant price volatility, with a peak premium rate of 51.8% in January 2025, which has since decreased to 21.3% as of July 14, 2025, still above the average level for cross-border ETFs [3][5] - The fund's management scale reached 60.49 billion yuan as of July 14, 2025, reflecting an increase of over 6 billion yuan since the end of Q1 2025, although its ranking has dropped to 18th [1] Group 2 - The Invesco Great Wall Chip Industry ETF has faced scrutiny due to design flaws in its arbitrage mechanism, leading to significant investor losses during the period from October 2024 to February 2025 [8] - The minimum subscription and redemption unit for the Chip Industry ETF was raised from 500,000 to 1.5 million units to reduce cash substitution frequency and optimize parameters [9] - The average daily trading volume of the Chip Industry ETF over the past six months was 8.03 million yuan, with a return of 4.18%, ranking 2604 out of 2831 in its category [12] Group 3 - The Shanghai Stock Exchange revised ETF risk management regulations, effective August 1, 2025, which include stricter parameters for subscription and redemption and enhanced monitoring of abnormal trading [6] - The S&P Consumer Select ETF's return over the past three months was 8.94%, ranking 333 out of 404 in its category, indicating a need for improved performance management [5] - In response to the trust crisis in traditional ETF business, the company is seeking breakthroughs through product innovation, including the approval of its first Sci-Tech Bond ETF [12]