Core Viewpoint - The announcement from Industrial Fund highlights the appointment of Xu Chengcheng as a new fund manager for several ETFs, indicating a strategic move to enhance fund management capabilities and potentially improve fund performance [1][2][3][4][5] Fund Performance Summary - **Industrial Shanghai 180 ETF**: Established on December 25, 2024, with a year-to-date return of 1.38% and a cumulative net value of 1.0077 yuan as of May 23, 2025 [1] - **Industrial CSI 300 Index ETF**: Established on September 11, 2020, with a year-to-date return of -1.22% and a cumulative net value of 0.8564 yuan as of May 23, 2025 [1] - **Industrial CSI A500 ETF**: Established on March 25, 2025, with a cumulative net value of 0.9916 yuan as of May 23, 2025 [1] - **Industrial CSI 500 ETF**: Established on June 30, 2020, with a year-to-date return of -1.25% and a cumulative net value of 0.8817 yuan as of May 23, 2025 [1] - **Industrial Huazheng Hong Kong-Shenzhen Dividend 100 Index**: Established on November 26, 2024, with year-to-date returns of 2.93% and a cumulative net value of 1.0287 yuan as of May 23, 2025 [2] - **Industrial Shanghai 180 ETF Link**: Established on January 23, 2025, with a cumulative net value of 0.9990 yuan as of May 23, 2025 [2] - **Industrial CSI 500 ETF Initiated Link**: Established on March 28, 2023, with a year-to-date return of -1.11% and a cumulative net value of 0.9174 yuan as of May 23, 2025 [2] - **Industrial CSI 300 ETF Initiated Link**: Established on August 30, 2022, with a year-to-date return of -1.26% and a cumulative net value of 1.0215 yuan as of May 23, 2025 [2] Fund Manager Appointment - Xu Chengcheng has been appointed as a new fund manager for multiple ETFs managed by Industrial Fund, including the Industrial Shanghai 180 ETF, Industrial CSI 300 Index ETF, Industrial CSI A500 ETF, and Industrial CSI 500 ETF [1][3][4][5] - Xu Chengcheng has prior experience at Minfa Securities and Guotai Fund Management, holding positions such as trader and fund manager assistant [1]

Core Viewpoint - The company is focusing on developing its index investment business in response to the increasing demand for equity investments, particularly index investments, as bond yields continue to decline [1] Group 1: Index Product Development - The company plans to enhance its index product matrix in 2024, having already launched several ETFs including the Xingye Shanghai Stock Exchange 180 ETF and the Xingye CSI A500 ETF [2] - The strategy for filling the index product line is to move from broad-based indices to strategy and industry themes, targeting products with high explanatory power and lower volatility [2][3] - The company acknowledges the challenge of product homogenization in the index business but aims to leverage the market influence of existing indices to expand promotion [2] Group 2: Strategic Support and Resource Utilization - As a subsidiary of Xingye Bank, the company plays a crucial role in the group's strategic planning for index investment and aims to build an ETF ecosystem [4] - The company intends to utilize its ETF products as a hub connecting Xingye Bank with partner institutions, enhancing the product offerings for different investor needs [4] - The company recognizes the importance of channel resources for the development of its index business and plans to collaborate closely with its parent bank for market promotion and channel building [4][5] Group 3: Focus on Investor Experience - The company emphasizes the responsibility towards investors and aims to improve the investor holding experience in its product selection process [6] - The introduction of Smart Beta index products is seen as a key direction for future development, with the goal of outperforming similar market products [6] - The company aims to educate investors effectively to ensure they benefit from the long-term positive investment experience offered by index products [6]