Group 1 - The fund "Huazhang Hang Seng Hong Kong Stock Connect Technology Theme ETF" will have China International Capital Corporation Limited added as a new primary dealer for subscription and redemption services starting from September 3, 2025 [1] - As of September 3, 2025, the list of primary dealers for the fund includes various securities companies, indicating a broad network for investor access [1] - Investors can conduct subscription and redemption transactions through China International Capital Corporation Limited's various business outlets [1] Group 2 - Investors can consult details through China International Capital Corporation Limited and Huazhang Fund Management Company, providing contact information and addresses for customer service [2] - The announcement is officially made by Huazhang Fund Management Company on September 3, 2025 [4]

Core Points - Huashan Fund has announced the effective contract of the Huashan Hang Seng Hong Kong Stock Connect Technology Theme Exchange-Traded Open-Ended Index Securities Investment Fund [1] - The net subscription amount during the fundraising period was 1,453,049,000.00 yuan, with a total of 1,453,049,000.00 shares subscribed [1][2] - The fund manager, Wang Chao, has been with Huashan Fund since graduating in 2014 and has held various positions within the company [1] Fundraising Details - The fundraising period was from July 28, 2025, to August 8, 2025 [2] - The verification agency for the fundraising was KPMG Huazhen Accounting Firm [2] - The total number of valid subscription accounts during the fundraising period was 16,999 [2]

Core Insights - The report emphasizes the significant progress in technology and supportive policies, which are shaping the main narrative of a bull market in Hong Kong's tech sector. The revaluation of Chinese AI assets and the ongoing technological revolution are boosting future growth confidence, with the Hang Seng Tech Index showing substantial growth since the beginning of the year, outperforming the Nasdaq Index [6][7]. - The Hong Kong stock market is experiencing a strong recovery, led by the tech sector, with the Hang Seng Index showing remarkable performance. The Hang Seng Tech Index has increased by approximately 49.19% over the past year, significantly outpacing the overall Hang Seng Index, which rose by 35.86% [7]. - The report highlights the long-term investment value of Hong Kong's tech sector, noting that leading tech companies possess strong competitive advantages and a significant valuation upside. The current price-to-earnings (PE) ratio of around 20 times is considered to be at a historical low, indicating substantial potential for valuation recovery [7][9]. Summary by Sections Section 1: Technological Breakthroughs and Policy Support - The report discusses the dual drivers of technological innovation and favorable policies that are expected to enhance the future potential of the tech sector. The "14th Five-Year Plan" prioritizes technological innovation, with R&D investment intensity surpassing the EU average [6]. - The government's emphasis on innovation-driven development and the recent issuance of the "Digital China Construction 2025 Action Plan" are expected to channel resources into the tech sector, leading to significant outputs [6]. Section 2: Hong Kong Stock Market Recovery - The tech sector is leading the market rally, with the Hang Seng Index showing a clear bullish trend characterized by a "low base consolidation + high point breakout" pattern. The tech sector's performance has attracted global capital, contributing to a notable increase in the market [7]. - The report notes that the tech sector's overall profitability is stabilizing and improving, with a positive outlook for the second half of the year as companies enter a performance realization phase [7]. Section 3: Investment Value of the Hang Seng Tech Theme Index - The Hang Seng Tech Theme Index is highlighted for its concentrated exposure to leading TMT and internet companies, with the top ten constituents accounting for over 75% of the index's weight. This concentration allows for precise capture of industry core dividends [8]. - The index has shown a remarkable increase of 57.26% over the past year, outperforming both the Hang Seng Index and the Hang Seng Tech Index, indicating its strong growth potential and valuation recovery opportunities [9]. Section 4: Product Introduction - The report introduces the Huaan Hang Seng Tech Theme ETF, which aims to closely track the performance of the Hang Seng Tech Theme Index, providing investors with a tool to invest in leading tech companies in Hong Kong [11].