统计显示，金融科技ETF华夏近3月份额增长3.39亿份，实现显著增长。截至11月21日，最新份额达9.74 亿份，最新规模12.77亿。 11月24日，三大指数高开后低走，盘中深证成指、创业板指V型翻红，科技板块相对强势，截至 10:45，金融科技ETF华夏(516100)上涨0.69%，其持仓股恒银科技涨停，星环科技、拓尔思、普元信息 等股涨幅居前，券商ETF基金（515010）涨0.15%。 截至11月21日，金融科技ETF华夏近6月净值上涨15.06%。从收益能力看，截至2025年11月21日，金融 科技ETF华夏自成立以来，最高单月回报为55.18%，最长连涨月数为4个月，最长连涨涨幅为47.15%， 上涨月份平均收益率为10.21%，年盈利百分比为66.67%，历史持有3年盈利概率为83.94%。截至2025年 11月21日，金融科技ETF华夏近1年超越基准年化收益为1.47%。 金融科技ETF华夏紧密跟踪中证金融科技主题指数，截至2025年10月31日，指数(930986)前十大权重股 分别为同花顺、东方财富、指南针、润和软件、恒生电子、东华软件、银之杰、新大陆、四方精创、广 电运通，前十大权重股 ...

Group 1 - The core theme of the 2025 Financial Street Forum is "Innovation, Transformation, and Reshaping Global Financial Development," with a significant focus on the integration of finance and technology [3] - The China Securities Financial Technology Theme Index rose by 0.65%, with notable increases in constituent stocks such as Hengbao Co., Ltd. (up 9.99%) and Guoao Technology (up 6.63%) [3] - The Financial Technology ETF (516860) has shown a cumulative increase of 3.85% over the past week, ranking 1/6 among comparable funds [3] Group 2 - The Financial Technology ETF recorded a turnover rate of 3.54% with a transaction volume of 88.2366 million yuan, and its average daily transaction volume over the past month was 179 million yuan, ranking in the top 2 among comparable funds [3] - The "14th Five-Year Plan" emphasizes technological self-reliance and innovation, aiming to accelerate the integration of technology and industry, particularly in artificial intelligence and algorithmic fields [3] - The Financial Technology ETF has seen a significant increase in scale, growing by 64.6857 million yuan over the past week, ranking 2/6 among comparable funds [4] Group 3 - The top ten weighted stocks in the China Securities Financial Technology Theme Index account for 55.55% of the index, including companies like Tonghuashun and Dongfang Caifu [5] - The Financial Technology ETF has experienced a net inflow of 14.977 million yuan recently, with a total of 24.762 million yuan over the past 12 trading days [4]

Core Insights - The financial technology sector is experiencing mixed performance, with the China Securities Financial Technology Theme Index down by 0.13% as of September 16, 2025, while individual stocks show varied movements [3] - The Financial Technology ETF (516860) has seen a slight decline of 0.19%, with a recent price of 1.59 yuan, but has accumulated a 1.86% increase over the past week [3] - The recent Inclusion·Bund Conference in Shanghai showcased over 50 technological innovations and facilitated connections between 32 startups and 8 investment institutions, indicating a vibrant ecosystem for financial technology [3] Market Performance - The Financial Technology ETF has reached a new high in scale at 2.358 billion yuan and in shares at 1.486 billion, ranking 2nd among comparable funds [4] - The ETF has experienced continuous net inflows over the past five days, with a peak single-day inflow of 66.616 million yuan, totaling 209 million yuan in net inflows [4] - The top ten weighted stocks in the China Securities Financial Technology Theme Index account for 54.08% of the index, with key players including Tonghuashun, Dongfang Caifu, and Hengsheng Electronics [4] Sector Outlook - Dongwu Securities highlights that the financial technology sector is currently at a low in terms of fundamentals and valuations, presenting significant allocation value [4] - The sector is expected to enter an upward trajectory supported by policy initiatives and the ongoing digital transformation demands from brokerage firms [4] - The active performance of AI computing power concept stocks, such as Ronglian Technology, indicates a growing interest and potential in specific segments of the financial technology market [3]

Group 1 - Financial technology stocks experienced significant gains, with Zhinan Zhen rising over 19%, Tonghuashun increasing over 11%, and Yinzhi Jie up over 8% [1] - The ETF tracking the CSI Financial Technology Theme Index rose over 5% due to market influences [1] Group 2 - The CSI Financial Technology Theme Index selects listed companies involved in financial technology products and services to reflect the overall performance of these securities [2] - Institutions indicate that with policy support, a stable macro environment, and ongoing capital market reforms, the fundamentals of the financial industry are improving, which will gradually boost the earnings of financial IT companies [2] - The recent acceleration of revolutionary stablecoins and the expected release of significant financial policies present new opportunities for investment in the financial IT sector [2]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - The fintech industry is experiencing long - term development opportunities driven by policy dividends and technological innovation. The 2025 Lujiazui Forum's focus on "AI - empowered financial reform and innovation" may bring positive market feedback to the sector, similar to the "Internet + finance" trend in 2013 [1]. - The CSI Fintech Theme Index is a core indicator reflecting the overall performance of A - share fintech companies. It has concentrated weightings in leading stocks, high historical return volatility, and strong offensive capabilities, with expected EPS and net profit growth of over 10% in the next two years [1][2][43]. - The Huaxia CSI Fintech Theme ETF provides investors with a convenient tool to access the fintech sector. It closely tracks the CSI Fintech Theme Index, with a management fee of 0.50% and a custody fee of 0.10% [1]. 3. Summary by Directory 3.1 Financial Technology: An Inevitable Trend - **Accumulation and Outlook**: Fintech is based on technological innovations such as big data, cloud computing, AI, and blockchain, and is comprehensively applied in six major financial fields. The "14th Five - Year Plan" promotes its in - depth development, and four core technologies drive the industry forward [5][6]. - **2025 Lujiazui Forum**: The 2025 Lujiazui Forum focused on the mutual empowerment of technology and finance and promoted financial opening - up. The emerging topic of "AI - empowered financial reform and innovation" is similar to the "Internet finance" topic in 2013, and historical experience may indicate sector - wide structural opportunities [1][9][17]. 3.2 CSI Fintech: A Leader in the Vertical Industry - **Strong Representativeness**: The CSI Fintech Theme Index, launched in 2017, selects companies related to fintech as sample stocks to reflect the overall performance of A - share fintech companies. Its sample is adjusted semi - annually [18][19][21]. - **Concentrated Weightings and Focus on Emerging Technologies**: As of July 4, 2025, the index had 57 constituent stocks. The top ten constituent stocks accounted for 57.20% of the total weight, with concentrated weightings. The index focuses on emerging fintech fields, with a relatively concentrated industry distribution in software and computer sectors [22][25][27]. - **High Elasticity and Offensive Capability**: The fintech sector shows high elasticity and strong offensive capabilities in rising markets. Since its base date, the cumulative return of the fintech index has reached 201.07%, far exceeding that of major broad - based indices. In specific rising periods, its performance is significantly better than that of the market [30][33][34]. - **Earnings Growth Forecast**: The fundamentals of companies in the fintech index are expected to recover strongly. The main business income is expected to rebound by 14.73% in 2025, and the EPS is expected to grow by 29.06% to 0.42 yuan, with growth rates of 44.61% and 15.44% in 2026 and 2027 respectively [43]. 3.3 Huaxia CSI Fintech Theme ETF - **Product Information**: The Huaxia CSI Fintech Theme ETF (fund code: 516100) closely tracks the CSI Fintech Theme Index, aiming to minimize tracking errors. The management fee is 0.50%, and the custody fee is 0.10%. It was listed on July 23, 2017, and is managed by Mr. Xu Meng [46][48]. - **Fund Manager Introduction**: Mr. Xu Meng has rich experience in the industry. As of July 4, 2025, he manages 10 ETF products with a total scale of 249.59 billion yuan [48].

Core Viewpoint - The financial technology sector is experiencing significant growth, driven by the recent implementation of the stablecoin legislation in Hong Kong and the successful IPO of Circle, indicating strong investor interest in stablecoins and financial technology innovations [3][4]. Group 1: Market Performance - As of June 9, 2025, the CSI Financial Technology Theme Index (930986) rose by 1.13%, with notable increases in constituent stocks such as Chutianlong (10.01%) and Dongxinheping (9.99%) [3]. - The Financial Technology ETF (516860) increased by 1.05%, with a latest price of 1.25 yuan and a trading volume of 13.05 million yuan [3]. - The Financial Technology ETF has seen a significant increase in shares, with a growth of 37 million shares over the past three months, ranking it in the top third among comparable funds [4]. Group 2: Financial Metrics - The Financial Technology ETF's net asset value increased by 81.91% over the past year, ranking 18th out of 2845 index equity funds, placing it in the top 0.63% [4]. - The ETF has recorded a maximum monthly return of 55.92% since inception, with an average monthly return of 10.19% and a historical three-year holding profit probability of 97.01% [4]. - The ETF's management fee is 0.50%, and the custody fee is 0.10%, which are among the lowest in comparable funds [5]. Group 3: Top Holdings - As of May 30, 2025, the top ten weighted stocks in the CSI Financial Technology Theme Index accounted for 52.03% of the index, with Tonghuashun (9.50%) and Dongfang Caifu (9.01%) being the top two [5][7]. - The top ten stocks include notable companies such as Hengsheng Electronics, Runhe Software, and Newland, indicating a diverse representation within the financial technology sector [5][7].