Core Viewpoint - The report provides an overview of the performance and financial status of the Rongtong Zhongzheng Chengtong Central Enterprise Dividend ETF for the first half of 2025, highlighting its investment strategy and compliance with regulations [1][2][3]. Fund Overview - Fund Name: Rongtong Zhongzheng Chengtong Central Enterprise Dividend ETF - Fund Manager: Rongtong Fund Management Co., Ltd. - Fund Custodian: Agricultural Bank of China Co., Ltd. - Fund Contract Effective Date: January 22, 2025 - Total Fund Shares at Period End: 245,905,090 shares [3][4]. Investment Strategy - The fund aims to closely track the benchmark index, targeting a tracking deviation of no more than 0.2% on a daily basis and 2% annually [3]. - The fund employs a fully passive investment strategy, primarily using a replication method to construct an index investment portfolio based on the benchmark weights of constituent stocks [3][4]. Financial Performance - As of June 30, 2025, the fund's net asset value was RMB 254,313,164.88, with a net asset value per share of RMB 1.0342 [22][21]. - The fund's net profit for the reporting period was RMB 11,406,906.45, resulting in a net profit margin of approximately 3.86% [22][21]. - The fund's share value growth rate for the reporting period was 3.42%, outperforming the benchmark index return of 2.22% [12][22]. Market Context - The report notes that the A-share market showed resilience amid external pressures, with the Shanghai Composite Index rising by 2.76% in the first half of 2025 [13]. - The market outlook for the second half of 2025 suggests a potential upward trend driven by policy support and structural opportunities, particularly in technology innovation and dividend assets [14][13]. Compliance and Governance - The fund management strictly adheres to relevant laws and regulations, ensuring fair treatment of all investment portfolios and compliance with the fund contract [11][17]. - The fund's valuation process is overseen by a valuation committee to minimize discrepancies and ensure accurate reporting [15][12].