Fund Overview - The fund is named "Huaxia CSI Dividend Quality ETF" and was established on December 20, 2021, with a total share of 546,290,777.00 at the end of the reporting period [1][2] - The fund aims to closely track the CSI Dividend Quality Index, targeting an absolute tracking deviation of no more than 0.2% on a daily basis and an annual tracking error of no more than 2% [1][2] - The fund employs various investment strategies, including full replication, alternative strategies, and investment in derivatives and bonds [1][2] Financial Performance - The fund achieved a realized income of 8,028,150.80 RMB and a profit of 19,549,449.27 RMB during the reporting period from January 1, 2025, to June 30, 2025 [2][3] - The weighted average net value profit rate for the period was 3.60%, with a net asset value of 514,654,634.43 RMB and a net asset value per share of 0.9421 RMB at the end of the period [2][3] - The cumulative net value growth rate since the fund's inception is -5.79% [2][3] Market Environment - The macroeconomic environment in China showed resilience, with a GDP growth rate of 5.3% in the first half of 2025, supported by counter-cyclical policies and adjustments in export structures [12][13] - The A-share market experienced high volatility but recorded positive returns across major indices, with sectors like non-ferrous metals, banking, and military industries performing well [12][13] - The fund's tracking deviation was +2.04%, primarily due to dividend distributions, operational expenses, and index adjustments [13] Management and Operations - The fund management company, Huaxia Fund Management Co., Ltd., has a strong reputation and extensive experience in managing ETF products, being one of the largest in the domestic market [4][5] - The fund management adheres to strict compliance with regulations and has implemented robust risk monitoring and control mechanisms [11][15] - The fund did not distribute profits during the reporting period, aligning with regulatory requirements [14][15] Client Services - In the first half of 2025, the fund management company focused on enhancing customer experience through improved online services and educational initiatives [7] - The company has established liquidity service partnerships with several securities firms to ensure smooth market operations for the fund [13]