Market Overview - The Shanghai Composite Index rose 0.36% to close at 3890.45 points, the Shenzhen Component Index rose 0.66% to close at 13140.21 points, and the ChiNext Index rose 0.49% to close at 3122.24 points. The total trading volume of A-shares in the two markets was 1748.9 billion yuan. The top-performing sectors were commerce and retail (3.66%), comprehensive (2.22%), and light industry manufacturing (2.17%), while the bottom-performing sectors were banking (-0.44%), electronics (-0.29%), and coal (-0.29%) [2][6] Stock ETF - The top-traded stock ETFs were Huatai-PineBridge CSI A500 ETF (up 0.65% with a discount rate of 0.65%), ChinaAMC CSI A500 ETF (up 0.78% with a discount rate of 0.76%), and Southern CSI A500 ETF (up 0.66% with a discount rate of 0.68%) [3][7] Bond ETF - The top-traded bond ETFs were Haifutong CSI Short-term Commercial Paper ETF (up 0.00% with a discount rate of -0.01%), ChinaAMC Shanghai Stock Exchange Benchmark Market-making Treasury Bond ETF (down 0.03% with a discount rate of 0.09%), and Penghua Shanghai Stock Exchange AAA Sci-Tech Innovation Bond ETF (up 0.06% with a discount rate of -0.16%) [4][9] Gold ETF - The top-traded gold ETFs were HuaAn Gold ETF (down 0.05% with a discount rate of -0.11%), Bosera Gold ETF (down 0.02% with a discount rate of -0.10%), and E Fund Gold ETF (down 0.02% with a discount rate of -0.11%) [12] Commodity Futures ETF - The top-traded commodity futures ETFs were Dacheng Non-ferrous Metals Futures ETF (up 1.00% with a discount rate of 0.91%), CCB Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF (up 0.75% with a discount rate of 0.85%), and ChinaAMC Feed Soybean Meal Futures ETF (up 0.31% with a discount rate of 2.82%) [13] Cross-border ETF - The top-traded cross-border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (up 1.56% with a discount rate of 0.73%), GF CSI Hong Kong Innovative Drug ETF (up 2.17% with a discount rate of 1.43%), and Huatai-PineBridge Hang Seng Technology ETF (up 1.84% with a discount rate of 0.94%) [16] Money Market ETF - The top-traded money market ETFs were Huabao Tianyi ETF, Yin Hua Day Profit ETF, and Money Market ETF [18]

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Views - On December 17, 2025, the A - share market showed an upward trend, with the Shanghai Composite Index rising 1.19% to 3870.28 points, the Shenzhen Component Index rising 2.40% to 13224.51 points, and the ChiNext Index rising 3.39% to 3175.91 points. The total trading volume of A - shares in the two markets was 1834.5 billion yuan. The sectors with the highest gains were communication (5.07%), non - ferrous metals (3.03%), and electronics (2.48%), while the sectors with the highest losses were agriculture, forestry, animal husbandry and fishery (- 0.54%), national defense and military industry (- 0.20%), and coal (- 0.11%) [2][6]. 3. Summary by Directory Market Overview - The Shanghai Composite Index rose 1.19% to 3870.28 points, the Shenzhen Component Index rose 2.40% to 13224.51 points, and the ChiNext Index rose 3.39% to 3175.91 points. The trading volume of A - shares in the two markets was 1834.5 billion yuan. The communication, non - ferrous metals, and electronics sectors led the gains, while the agriculture, forestry, animal husbandry and fishery, national defense and military industry, and coal sectors led the losses [2][6]. Stock ETF - The top - traded stock ETFs were Huatai - Peregrine CSI A500 ETF (up 1.90% with a discount rate of 2.09%), China Asset Management CSI A500 ETF (up 1.75% with a discount rate of 2.04%), and Southern CSI A500 ETF (up 1.93% with a discount rate of 2.12%). The table also provided details of the top ten traded stock ETFs [3][7][8]. Bond ETF - The top - traded bond ETFs were Haifutong CSI Short - Term Financing ETF (up 0.00% with a discount rate of - 0.02%), China Asset Management Shanghai Stock Exchange Benchmark Market - Making Treasury Bond ETF (up 0.21% with a discount rate of 0.23%), and China Merchants CSI AAA Science and Technology Innovation Corporate Bond ETF (unchanged with a discount rate of - 0.22%). The table showed the top five traded bond ETFs [4][9][10]. Gold ETF - Gold AU9999 rose 0.81% and Shanghai Gold rose 0.76%. The top - traded gold ETFs were Huaan Gold ETF (up 0.76% with a discount rate of 0.95%), Bosera Gold ETF (up 0.76% with a discount rate of 0.94%), and E Fund Gold ETF (up 0.77% with a discount rate of 0.94%). The table presented the top five traded gold ETFs [12][13]. Commodity Futures ETF - Dacheng Non - Ferrous Metals Futures ETF rose 0.96% with a discount rate of 0.50%, China Asset Management Feed Soybean Meal Futures ETF fell 0.71% with a discount rate of 2.05%, and Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.68% with a discount rate of 0.75%. The table provided an overview of commodity futures ETFs [15][16]. Cross - border ETF - The previous trading day saw the Dow Jones Industrial Average fall 0.62%, the Nasdaq rise 0.23%, the S&P 500 fall 0.24%, and the German DAX fall 0.63%. On December 17, the Hang Seng Index rose 0.92% and the Hang Seng China Enterprises Index rose 0.98%. The top - traded cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (up 1.91% with a discount rate of 1.48%), China Asset Management Hang Seng Technology ETF (up 0.97% with a discount rate of 0.80%), and Huatai - Peregrine Hang Seng Technology ETF (up 0.99% with a discount rate of 0.76%). The table showed the top five traded cross - border ETFs [17][18]. Money ETF - The top - traded money ETFs were Yin Hua Day Profit ETF, Huabao Add - Benefit ETF, and Jianxin Add - Benefit Money ETF. The table presented the top three traded money ETFs [19][21].

Report Summary 1. Market Overview - On December 15, 2025, the Shanghai Composite Index fell 0.55% to 3867.92 points, the Shenzhen Component Index dropped 1.10% to 13112.09 points, and the ChiNext Index declined 1.77% to 3137.80 points. The total trading volume of A - shares in the two markets was 1794.5 billion yuan. The top - rising sectors were non - bank finance (1.59%), commerce and retail (1.49%), and agriculture, forestry, animal husbandry and fishery (1.24%), while the top - falling sectors were electronics (- 2.42%), communication (- 1.89%), and media (- 1.63%) [2][6] 2. Stock ETF - The top - traded stock ETFs on this day were: Huatai - Peregrine CSI A500 ETF, down 0.65% with a discount rate of - 0.73%; Huaxia CSI A500 ETF, down 0.60% with a discount rate of - 0.66%; and Southern CSI A500 ETF, down 0.41% with a discount rate of - 0.49% [3][7] 3. Bond ETF - The top - traded bond ETFs were: Haifutong CSI Short - Term Financing Bond ETF, with a change of 0.00% and a discount rate of - 0.01%; Huaxia Shanghai Stock Exchange Benchmark Market - Making Treasury Bond ETF, down 0.25% with a discount rate of - 0.14%; and Guotai CSI AAA Science and Technology Innovation Corporate Bond ETF, down 0.01% with a discount rate of - 0.03% [4][9] 4. Gold ETF - Gold AU9999 rose 1.30% and Shanghai Gold rose 1.32%. The top - traded gold ETFs were: Huaan Gold ETF, up 1.34% with a premium rate of 1.46%; Boshi Gold ETF, up 1.34% with a premium rate of 1.44%; and E Fund Gold ETF, up 1.38% with a premium rate of 1.47% [12] 5. Commodity Futures ETF - Dacheng Non - ferrous Metals Futures ETF fell 1.35% with a discount rate of - 0.74%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.68% with a premium rate of 0.41%; Huaxia Feed Soybean Meal Futures ETF fell 0.20% with a premium rate of 1.95% [13] 6. Cross - border ETF - The previous trading day, the Dow Jones Industrial Average fell 0.51%, the Nasdaq Composite fell 1.69%, the S&P 500 dropped 1.07%, and the German DAX fell 0.45%. On this day, the Hang Seng Index fell 1.34% and the Hang Seng China Enterprises Index fell 1.78%. The top - traded cross - border ETFs were: E Fund CSI Hong Kong Securities Investment Theme ETF, up 0.24% with a discount rate of - 0.80%; Huatai - Peregrine Hang Seng Technology ETF, down 2.16% with a discount rate of - 2.19%; and GF CSI Hong Kong Innovative Drug ETF, down 3.23% with a discount rate of - 3.78% [15] 7. Money ETF - The top - traded money ETFs were: Yin Hua Ri Li ETF, Hua Bao Tian Yi ETF, and Money ETF [17]

Market Overview - On December 11, 2025, the Shanghai Composite Index fell 0.70% to close at 3873.32 points, the Shenzhen Component Index fell 1.27% to close at 13147.39 points, and the ChiNext Index fell 1.41% to close at 3163.67 points. The trading volume of A-shares in the two markets was 1885.4 billion yuan. The top-performing industry was banking with a 0.17% increase, while the bottom-performing industries were comprehensive (-4.31%), communication (-3.14%), and real estate (-3.06%) [2][6]. Stock ETF - The top-traded stock ETFs on this day were Huatai-PineBridge CSI A500 ETF, which fell 0.89% with a discount rate of -0.77%; ChinaAMC CSI A500 ETF, which fell 0.69% with a discount rate of -0.69%; and Southern CSI A500 ETF, which fell 0.66% with a discount rate of -0.66% [3][7]. Bond ETF - The top-traded bond ETFs were Haitong CSI Short-term Financing Bond ETF, which rose 0.00% with a discount rate of -0.01%; E Fund CSI AAA Science and Technology Innovation Corporate Bond ETF, which rose 0.05% with a discount rate of -0.21%; and ChinaAMC Shanghai Stock Exchange Benchmark Market-making Treasury Bond ETF, which rose 0.15% with a discount rate of 0.14% [4][9]. Gold ETF - Gold AU9999 rose 0.16% and Shanghai Gold rose 0.15%. The top-traded gold ETFs were HuaAn Gold ETF, which rose 0.16% with a discount rate of 0.22%; E Fund Gold ETF, which rose 0.20% with a discount rate of 0.22%; and Bosera Gold ETF, which rose 0.19% with a discount rate of 0.21% [12]. Commodity Futures ETF - Dacheng Nonferrous Metals Futures ETF had a 0.00% change with a discount rate of 0.44%; ChinaAMC Feed Soybean Meal Futures ETF fell 0.36% with a discount rate of 2.33%; and CCB YiSheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 0.08% with a discount rate of -0.07% [13]. Cross - border ETF - The previous day, the Dow Jones Industrial Average rose 1.05%, the Nasdaq rose 0.33%, the S&P 500 rose 0.67%, and the German DAX fell 0.13%. On this day, the Hang Seng Index fell 0.04% and the Hang Seng China Enterprises Index fell 0.23%. The top-traded cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF, which fell 1.18% with a discount rate of -1.51%; GF CSI Hong Kong Innovative Drugs ETF, which fell 0.46% with a discount rate of -0.19%; and Huatai - PineBridge Hang Seng Technology ETF, which fell 0.82% with a discount rate of -0.86% [16]. Money ETF - The top-traded money ETFs were YinHua RiLi ETF, HuaBao TianYi ETF, and Money ETF [18].

1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - On December 3, 2025, the A-share market declined, with the Shanghai Composite Index down 0.51% to 3878.00 points, the Shenzhen Component Index down 0.78% to 12955.25 points, and the ChiNext Index down 1.12% to 3036.79 points. The total trading volume of A-shares in the two markets was 1683.7 billion yuan. Industries with the highest gains were transportation (0.69%), non-ferrous metals (0.63%), and coal (0.57%), while those with the largest losses were media (-2.86%), computer (-2.26%), and real estate (-1.53%) [2][6] 3. Summary by Relevant Catalogs Market Overview - The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index all decreased, with trading volume reaching 1683.7 billion yuan. Transportation, non-ferrous metals, and coal led the gains, while media, computer, and real estate led the losses [2][6] Stock ETF - The top trading volume stock ETFs were mainly those tracking the CSI A500 Index, such as Huaxia CSI A500ETF (down 0.35%, premium rate -0.42%), Huatai-PineBridge CSI A500ETF (down 0.33%, premium rate -0.39%), and Guotai CSI A500ETF (down 0.52%, premium rate -0.53%) [3][7] Bond ETF - The top trading volume bond ETFs included Haifutong CSI Short-term Financing ETF (up 0.01%, premium rate 0.00%), Huaxia Shanghai Stock Exchange Benchmark Market-making Treasury Bond ETF (down 0.05%, premium rate 0.03%), and China Merchants CSI AAA Science and Technology Innovation Corporate Bond ETF (down 0.04%, premium rate -0.29%) [4][9] Gold ETF - Gold AU9999 fell 0.51% and Shanghai Gold fell 0.23%. The top trading volume gold ETFs were Huaan Gold ETF (down 0.18%, premium rate -0.36%), Boshi Gold ETF (down 0.24%, premium rate -0.36%), and E Fund Gold ETF (down 0.20%, premium rate -0.34%) [12] Commodity Futures ETF - Dacheng Non-ferrous Metals Futures ETF rose 0.38% (premium rate 0.51%), Huaxia Feed Soybean Meal Futures ETF had a 0.00% change (premium rate 0.65%), and China Construction Bank Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 0.73% (premium rate -1.09%) [15] Cross-border ETF - The previous trading day saw increases in the Dow Jones Industrial Average (0.39%), NASDAQ (0.59%), S&P 500 (0.25%), and Germany's DAX (0.51%). On December 3, the Hang Seng Index fell 1.28% and the Hang Seng China Enterprises Index fell 1.68%. The top trading volume cross-border ETFs included E Fund CSI Hong Kong Securities Investment Theme ETF (down 1.23%, premium rate -1.44%), Huatai-PineBridge Hang Seng Technology ETF (down 1.49%, premium rate -1.85%), and GF CSI Hong Kong Innovative Drug ETF (down 1.73%, premium rate -1.70%) [17] Money ETF - The top trading volume money ETFs were Yin Hua Rili ETF, Hua Bao Tian Yi ETF, and Money ETF [19]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View On November 20, 2025, the A-share market generally declined, with the Shanghai Composite Index down 0.40%, the Shenzhen Component Index down 0.76%, and the ChiNext Index down 1.12%. Different sectors had varying performances, and various types of ETFs also showed different trends in price changes and discount rates [2][6]. 3. Summary by Related Catalogs Market Overview - The Shanghai Composite Index closed at 3931.05, down 0.40%; the Shenzhen Component Index closed at 12980.82, down 0.76%; the ChiNext Index closed at 3042.34, down 1.12%. The total trading volume of A-shares in the two markets was 1722.8 billion yuan. The top-performing sectors were building materials (1.40%), comprehensive (0.87%), and banks (0.86%), while the worst-performing sectors were beauty care (-2.39%), coal (-2.10%), and power equipment (-1.96%) [2][6]. Stock ETF - The top trading volume stock ETFs included Huaxia CSI A500 ETF (down 0.61%, discount rate -0.65%), Guotai CSI All - Securities Company ETF (down 0.33%, discount rate -0.23%), and Huatai - Berie CSI A500 ETF (down 0.57%, discount rate -0.56%) [3][7]. Bond ETF - The top trading volume bond ETFs were Huaxia Shanghai Stock Exchange Benchmark Market - Making Treasury Bond ETF (down 0.05%, discount rate 0.03%), Haifutong CSI Short - Term Financing ETF (up 0.01%, discount rate 0.01%), and Guotai CSI AAA Science and Technology Innovation Corporate Bond ETF (unchanged, discount rate 0.00%) [4][9]. Gold ETF - Gold AU9999 was down 0.58% and Shanghai Gold was down 0.55%. The top trading volume gold ETFs were Huaan Gold ETF (down 0.57%, discount rate -0.46%), E Fund Gold ETF (down 0.62%, discount rate -0.49%), and Bosera Gold ETF (down 0.60%, discount rate -0.47%) [12]. Commodity Futures ETF - Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF was down 0.33%, discount rate -0.38%; Dacheng Non - Ferrous Metals Futures ETF was down 0.22%, discount rate 0.02%; Huaxia Feed Soybean Meal Futures ETF was down 0.10%, discount rate 1.75% [13]. Cross - Border ETF - The previous trading day, the Dow Jones Industrial Average rose 0.10%, the Nasdaq rose 0.59%, the S&P 500 rose 0.38%, and the German DAX fell 0.04%. On this day, the Hang Seng Index rose 0.02%, and the Hang Seng China Enterprises Index fell 0.08%. The top trading volume cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (up 0.19%, discount rate 0.45%), Huatai - Berie Hang Seng Technology ETF (down 1.21%, discount rate -0.89%), and Huaxia Hang Seng Technology ETF (down 1.19%, discount rate -0.80%) [15]. Money ETF - The top trading volume money ETFs were Yin Hua Ri Li ETF, Hua Bao Tian Yi ETF, and Money ETF [17].

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report On November 7, 2025, the A - share market generally declined, with the Shanghai Composite Index down 0.25%, the Shenzhen Component Index down 0.36%, and the ChiNext Index down 0.51%. Different sectors and ETFs showed varying performance [2][6]. 3. Summary by Related Catalogs Market Overview - The Shanghai Composite Index closed at 3997.56 points, down 0.25%; the Shenzhen Component Index closed at 13404.06 points, down 0.36%; the ChiNext Index closed at 3208.21 points, down 0.51%. The trading volume of A - shares in the two markets was 20205 billion yuan [2][6]. - The top - performing industries were basic chemicals (up 2.39%), comprehensive (up 1.45%), and petroleum and petrochemicals (up 1.38%); the worst - performing industries were computer (down 1.83%), electronics (down 1.34%), and household appliances (down 1.17%) [2][6]. Stock ETF - The top - trading - volume stock ETFs included Huaxia CSI A500 ETF (down 0.08%, discount rate - 0.14%), Guotai CSI A500 ETF (down 0.17%, discount rate - 0.18%), and Huatai - Ber瑞 CSI A500 ETF (unchanged, discount rate - 0.05%) [3][7]. - The report also listed the details of the top ten stock ETFs in terms of trading volume, including price, change rate, tracking index change rate, discount rate, trading volume, and latest share reference [8]. Bond ETF - The top - trading - volume bond ETFs were Haifutong CSI Short - Term Financing ETF (unchanged, discount rate 0.00%), Boshi CSI Convertible and Exchangeable Bond ETF (up 0.15%, discount rate - 0.12%), and Huaxia Shanghai Stock Exchange Benchmark Market - Making Treasury Bond ETF (down 0.06%, discount rate 0.01%) [4][9]. - The details of the top five bond ETFs in terms of trading volume were provided, including price, change rate, discount rate, and trading volume [10]. Gold ETF - Gold AU9999 was unchanged, and Shanghai Gold was up 0.31%. The top - trading - volume gold ETFs were Huaan Gold ETF (up 0.43%, discount rate 0.15%), Boshi Gold ETF (up 0.42%, discount rate 0.10%), and E Fund Gold ETF (up 0.42%, discount rate 0.12%) [12]. - The details of several gold ETFs were presented, including price, change rate, trading volume, IOPV, and discount rate [13]. Commodity Futures ETF - Huaxia Feed Soybean Meal Futures ETF was down 0.10%, discount rate 0.07%; Dacheng Non - Ferrous Metals Futures ETF was down 0.28%, discount rate - 0.13%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF was down 0.57%, discount rate 0.39% [13][14]. - The details of these commodity futures ETFs were provided, including price, change rate, trading volume, IOPV, discount rate, tracking index, and tracking index change rate [14]. Cross - Border ETF - The previous trading day, the Dow Jones Industrial Average was down 0.84%, the Nasdaq was down 1.90%, the S&P 500 was down 1.12%, and the German DAX was down 1.31%. On this day, the Hang Seng Index was down 0.92%, and the Hang Seng China Enterprises Index was down 0.94% [15]. - The top - trading - volume cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (down 1.17%, discount rate - 1.21%), GF CSI Hong Kong Innovative Drug ETF (down 2.22%, discount rate - 1.85%), and Huatai - Ber瑞 Hang Seng Technology ETF (down 1.27%, discount rate - 1.30%) [15]. - The details of the top five cross - border ETFs in terms of trading volume were given, including trading volume, change rate, and discount rate [16]. Currency ETF - The top - trading - volume currency ETFs were Yin Hua Day - to - Day Profit ETF, Hua Bao Tian Yi ETF, and Currency ETF Jian Xin Tian Yi [17][19]. - The trading volumes of the top three currency ETFs were provided [19].

Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core View of the Report On October 17, 2025, the A - share market generally declined, with significant drops in major indices and certain industries. Different types of ETFs showed varying performance, with stock ETFs mostly falling, bond ETFs generally rising, gold ETFs rising, commodity - futures ETFs falling, and cross - border ETFs also mostly declining. [2][3][4] 3. Summary by Relevant Catalogs Market Overview - The Shanghai Composite Index fell 1.95% to 3839.76 points, the Shenzhen Component Index dropped 3.04% to 12688.94 points, and the ChiNext Index declined 3.36% to 2935.37 points. The trading volume of A - shares in the two markets was 19547 billion yuan. The industries with the largest declines were power equipment (-4.99%), electronics (-4.17%), and machinery and equipment (-3.69%) [2][6] Stock ETF - The top - trading - volume stock ETFs included: Huaxia Shanghai Stock Exchange Science and Technology Innovation Board 50 ETF, which fell 3.63% with a discount rate of -3.65%; Harvest Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF, which dropped 4.12% with a discount rate of -4.16%; Huaxia CSI A500 ETF, which declined 2.41% with a discount rate of -2.43% [3][7] Bond ETF - The top - trading - volume bond ETFs were: Haifutong CSI Short - Term Financing Bond ETF, which rose 0.02% with a discount rate of 0.01%; Huaxia Shanghai Stock Exchange Benchmark Market - Making Treasury Bond ETF, which increased 0.23% with a discount rate of 0.25%; Cathay CSI AAA Science and Technology Innovation Corporate Bond ETF, which went up 0.03% with a discount rate of -0.09% [4][9] Gold ETF - Gold AU9999 rose 3.00% and Shanghai Gold increased 3.24%. The top - trading - volume gold ETFs were: Huaan Gold ETF, which rose 3.50% with a discount rate of 3.29%; E Fund Gold ETF, which climbed 3.66% with a discount rate of 3.38%; Bosera Gold ETF, which advanced 3.62% with a discount rate of 3.39% [12] Commodity Futures ETF - Dacheng Non - Ferrous Metals Futures ETF fell 0.62% with a discount rate of -0.53%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF dropped 1.68% with a discount rate of -1.18%; Huaxia Feed Soybean Meal Futures ETF declined 1.13% with a discount rate of 2.53% [13] Cross - border ETF - The previous trading day, the Dow Jones Industrial Average fell 0.65%, the Nasdaq Composite dropped 0.47%, and the S&P 500 declined 0.63%, while the German DAX rose 0.38%. On this day, the Hang Seng Index fell 2.48% and the Hang Seng China Enterprises Index dropped 2.67%. The top - trading - volume cross - border ETFs were: E Fund CSI Hong Kong Securities Investment Theme ETF, which fell 3.13% with a discount rate of -3.46%; Huatai - Peregrine Hang Seng Technology ETF, which declined 3.27% with a discount rate of -3.19%; Huaxia Hang Seng Technology ETF, which dropped 3.21% with a discount rate of -3.03% [15] Currency ETF - The top - trading - volume currency ETFs were: Silver Hua Daily Interest ETF, Huabao Add - Benefit ETF, and Currency ETF Jianxin Add - Benefit [17]

Market Overview - On September 22, 2025, the Shanghai Composite Index rose 0.22% to close at 3828.58, the Shenzhen Component Index rose 0.67% to close at 13157.97, and the ChiNext Index rose 0.55% to close at 3107.89. The total trading volume of A-shares in the two markets was 2.1427 trillion yuan. The top-performing sectors were electronics (3.71%), computer (1.70%), and non-ferrous metals (0.98%), while the bottom-performing sectors were social services (-2.04%), beauty care (-1.36%), and commercial retail (-1.31%) [2][6] Stock ETF - The top-trading volume stock ETFs today were: Huaxia SSE STAR 50 ETF, up 3.35% with a discount rate of 3.35%; Harvest SSE STAR Market Chip ETF, up 4.92% with a discount rate of 4.96%; Huaxia CSI A500 ETF, up 0.35% with a discount rate of 0.45% [3][7] - The top ten trading volume stock ETFs are presented in Chart 1, including details such as code, fund name, price, change rate, tracking index, discount rate, trading volume, and latest share [8] Bond ETF - The top-trading volume bond ETFs today were: Haitong CSI Short-term Financial Bond ETF, down 0.00% with a discount rate of -0.00%; Huaxia SSE Benchmark Market-making Treasury Bond ETF, up 0.08% with a discount rate of 0.08%; Bosera CSI Convertible and Exchangeable Bond ETF, down 0.21% with a discount rate of -0.46% [4][9] - The top five trading volume bond ETFs are shown in Chart 2, with information on code, fund name, price, change rate, discount rate, and trading volume [10][11] Gold ETF - Today, AU9999 gold rose 1.55% and Shanghai Gold rose 1.83%. The top-trading volume gold ETFs were: Huaan Gold ETF, up 1.90% with a discount rate of 1.70%; E Fund Gold ETF, up 1.90% with a discount rate of 1.72%; Bosera Gold ETF, up 1.92% with a discount rate of 1.71% [12] - The top five trading volume gold ETFs are presented in Chart 3, including code, fund name, price, change rate, trading volume, IOPV, and discount rate [13] Commodity Futures ETF - Today, Huaxia Feed Soybean Meal Futures ETF fell 0.30% with a discount rate of 2.91%; Dacheng Non-ferrous Metals Futures ETF rose 0.29% with a discount rate of 0.33%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 0.77% with a discount rate of -0.98% [13] - An overview of commodity futures ETFs is shown in Chart 4, including code, fund name, price, change rate, trading volume, IOPV, discount rate, tracking index, and tracking index change rate [14] Cross-border ETF - The previous trading day, the Dow Jones Industrial Average rose 0.37%, the Nasdaq Composite rose 0.72%, the S&P 500 rose 0.49%, and the German DAX fell 0.15%. Today, the Hang Seng Index fell 0.76% and the Hang Seng China Enterprises Index fell 1.07%. The top-trading volume cross-border ETFs today were: E Fund CSI Hong Kong Securities Investment Theme ETF, up 0.04% with a discount rate of -0.34%; Huatai-PineBridge Hang Seng Tech ETF, up 0.12% with a discount rate of -0.32%; GF CSI Hong Kong Innovative Drug ETF, up 2.29% with a discount rate of 1.67% [15] - The top five trading volume cross-border ETFs are presented in Chart 5, including code, fund name, trading volume, change rate, and discount rate [16] Money ETF - The top-trading volume money ETFs today were: Yin Hua Day Profit ETF, Hua Bao Add Benefit ETF, and Money ETF Jianxin Add Benefit [17] - The top three trading volume money ETFs are shown in Chart 6, including code, fund name, and trading volume [19]

Report Summary Market Overview - On September 18, 2025, the Shanghai Composite Index fell 1.15% to 3831.66 points, the Shenzhen Component Index dropped 1.06% to 13075.66 points, and the ChiNext Index declined 1.64% to 3095.85 points. The total trading volume of A-shares in the two markets was 3167 billion yuan. The top-performing sectors were electronics (0.93%), communication (0.19%), and social services (0.03%), while the worst-performing sectors were non-ferrous metals (-3.56%), comprehensive (-2.85%), and non-bank finance (-2.81%) [2][6]. Stock ETFs - The top-traded stock ETFs on this day were Huaxia Shanghai Science and Technology Innovation Board 50 ETF (up 0.69% with a premium rate of 0.71%), E Fund ChiNext ETF (down 1.67% with a premium rate of -1.71%), and GF China Securities All-Securities Company ETF (down 2.92% with a premium rate of -2.91%) [3][7]. Bond ETFs - The top-traded bond ETFs were Haifutong China Securities Short-term Financing Bond ETF (up 0.01% with a premium rate of 0.00%), Huaxia Shanghai Benchmark Market-making Treasury Bond ETF (down 0.11% with a premium rate of -0.12%), and Bosera China Securities Convertible and Exchangeable Bond ETF (down 0.62% with a premium rate of -0.74%) [4][9]. Gold ETFs - Gold AU9999 fell 0.87% and Shanghai Gold dropped 1.21%. The top-traded gold ETFs were Huaan Gold ETF (down 1.28% with a premium rate of -1.27%), Bosera Gold ETF (down 1.26% with a premium rate of -1.22%), and E Fund Gold ETF (down 1.31% with a premium rate of -1.26%) [12]. Commodity Futures ETFs - Dacheng Non-ferrous Metals Futures ETF fell 1.04% with a premium rate of -1.05%, Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF dropped 0.99% with a premium rate of -1.13%, and Huaxia Feed Soybean Meal Futures ETF declined 0.15% with a premium rate of 2.14% [13]. Cross-border ETFs - The previous trading day, the Dow Jones Industrial Average rose 0.57%, the Nasdaq Composite fell 0.33%, and the S&P 500 dropped 0.10%, while the German DAX rose 0.13%. On this day, the Hang Seng Index fell 1.35% and the Hang Seng China Enterprises Index dropped 1.46%. The top-traded cross-border ETFs were E Fund China Securities Hong Kong Securities Investment Theme ETF (down 3.40% with a premium rate of -2.88%), Huatai-PineBridge Hang Seng Technology ETF (down 1.66% with a premium rate of -1.25%), and Huaxia Hang Seng Technology ETF (down 1.52% with a premium rate of -1.23%) [15]. Money Market ETFs - The top-traded money market ETFs were Yin Hua Day Profit ETF, Hua Bao Tian Yi ETF, and Jian Xin Tian Yi Money Market ETF [17].