Summary of Key Points Core Viewpoint - On August 8, the industry-themed ETF funds experienced a net inflow of 4.662 billion yuan, with a cumulative net inflow of 6.758 billion yuan over the past five trading days, indicating strong investor interest in these funds [1]. Fund Inflows - A total of 151 industry-themed ETFs saw net inflows, with the leading fund being the Huabao CSI 300 Free Cash Flow ETF (562080), which had an increase of 1.651 billion shares and a net inflow of 1.817 billion yuan [1][3]. - The latest scale of the Huabao CSI 300 Free Cash Flow ETF is reported at 2.549 billion yuan [3]. Fund Outflows - Conversely, 193 industry-themed ETFs experienced net outflows, with the top outflow being the Huaxia CSI Animation Game ETF (159869), which saw a reduction of 0.245 billion shares and a net outflow of 0.334 billion yuan [1][4]. - The latest scale of the Huaxia CSI Animation Game ETF is 7.318 billion yuan [5]. Performance Overview - The performance of the top inflow fund, Huabao CSI 300 Free Cash Flow ETF, showed a rise of 0.73%, while the top outflow fund, Huaxia CSI Animation Game ETF, declined by 1.16% [3][5]. - Other notable funds with significant inflows include the Huabao S&P China A-Share Dividend Opportunity ETF (562060) with a net inflow of 1.659 billion yuan and a share increase of 1.392 billion [3]. Additional Insights - The overall trend indicates a mixed sentiment among investors, with certain sectors attracting capital while others are experiencing withdrawals, reflecting varying levels of confidence in different industry themes [1][4].

Group 1 - The article highlights the top ETFs by net inflow, indicating strong investor interest in specific funds [1] - The leading ETF by net inflow is the Hai Fu Tong Zhong Zheng Short Bond ETF, with a net inflow of 40.23 billion [1] - The second highest is the Fu Guo Zhong Zheng Hong Kong Stock Connect Internet ETF, with a net inflow of 28.16 billion [1] Group 2 - The article lists the total assets under management for each ETF, with the Hai Fu Tong Zhong Zheng Short Bond ETF having a total size of 554 billion [1] - Other notable ETFs include the Hua Bao Hu Shen 300 Free Cash Flow ETF with a net inflow of 19.31 billion and total assets of 25.49 billion [1] - The article also mentions the performance of various ETFs, such as the Yin Hua Ri Li A ETF with a net inflow of 18.71 billion and total assets of 683.83 billion [1]

Group 1 - Recent ETF listings have attracted significant attention from insurance capital institutions in equity investments [1][3] - The second largest holder of the Huatai-PineBridge CSI Hong Kong Stock Connect Consumer Theme ETF is China United Property Insurance Co., holding 60.01 million shares [1] - The top ten holdings of the CSI Hong Kong Stock Connect Consumer Index include popular consumer stocks like Pop Mart and Laopu Gold [1] Group 2 - Insurance capital is increasingly entering various thematic sectors such as artificial intelligence, dividends, and free cash flow [3] - The second largest holder of the Fortune CSI Sci-Tech Innovation Board Artificial Intelligence ETF is ZhongAn Online P&C Insurance Co., holding 35 million shares [3] - In the dividend sector, China Life Reinsurance Co. is the second largest holder of the Great Wall CSI Dividend Low Volatility 100 ETF, with over 10 million shares [3] Group 3 - Insurance capital institutions are also investing in broad-based ETFs, with China Pacific Life Insurance Co. being the largest holder of the Guolianan CSI A500 Enhanced Strategy ETF, holding 20 million shares [3] - The allocation of insurance capital to equity assets is steadily increasing, supported by policy measures [4] - This shift is expected to release trillions in long-term funds, enhancing market stability and supporting quality enterprise financing [4]

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The report mainly presents the latest situation of index product establishment, fundraising, and application, as well as the market performance and capital flow of ETFs in the past week. It shows that in the past week, most stock - asset ETFs declined, with Hong Kong ETFs experiencing significant drops, while agricultural ETFs led the gains. The ETFs targeting the CSI 300 had the largest net capital inflow [1][5]. 3. Summary According to the Directory 3.1 Index Product Establishment, Fundraising, and Application - **Product Establishment and Listing**: In the past week, 14 products such as Huabao CSI 300 Free Cash Flow ETF were established, 11 products such as Jianxin SSE Smart - Selected STAR Market Innovation Value ETF were listed, and 9 products such as Huabao Shenzhen 100 Index A completed fundraising and were about to be established [1][8]. - **Product Issuance Information**: In the coming week, 20 index products will end fundraising, including Huafu Xinhua Zhongchengxin Dividend Value Index A, etc. Twenty - eight products will start fundraising, including Boshi CSI A50 ETF, etc. [1][10][11]. - **Product Application Information**: In the past week, a total of 32 index products were applied for. There were 18 theme - type products covering themes such as securities, artificial intelligence, and free cash flow. Four index - enhanced products tracked targets like the CSI A500 and the STAR Market Composite Index. There were 2 broad - based products, 1 bond fund, 2 cross - border Hong Kong - stock connect funds, and 5 linked funds [2][15]. 3.2 ETF Market Review - **Stock - Asset ETFs**: In the past week (2025/4/7 - 2025/4/11), most stock - asset ETFs declined. Among A - share ETFs, the STAR 50 ETF had a relatively small decline of - 0.66%, while the ChiNext 50 ETF and CSI 500 ETF had relatively large declines of - 7.97% and - 4.56% respectively. Hong Kong ETFs had significant drops, with the Hang Seng Internet ETF having the largest decline of - 8.43%. Among US - stock ETFs, the Nasdaq ETF rose slightly by 0.28%, while the S&P 500 ETF declined by 2.95% [5][18]. - **Commodity ETFs**: Gold ETFs and soybean meal ETFs had obvious increases of 2.47% and 2.31% respectively, while energy - chemical ETFs and non - ferrous ETFs declined significantly by - 6.97% and - 5.52% respectively [5]. - **Industry ETFs**: Most industry ETFs declined, while most sub - ETFs in the consumer category rose. The medical, cyclical, and financial - real - estate category ETFs all declined. Among sub - industries, the communication ETF and photovoltaic ETF had relatively large declines of - 8.73% and - 8.09% respectively. The agricultural ETF had the highest increase of 2.62%, and the chip ETF had a relatively high increase of 1.27%. The food - beverage ETF and military - industry ETF rose slightly by 0.15% and 0.39% respectively [5]. - **Cross - Border ETFs**: Most major broad - based indices in cross - border markets declined, while major US broad - based indices had relatively large increases. The Nasdaq 100 and S&P 500 rose by 7.43% and 5.70% respectively. The China Internet 50 and Hang Seng Index had relatively large declines of - 10.66% and - 8.47% respectively [22]. 3.3 ETF Capital Flow - As of April 11, 2025, there were 1167 ETFs in the entire market, with a latest total scale of 3923.952 billion yuan, an increase of 108.423 billion yuan compared to the previous week. Among non - monetary ETFs, the ETFs targeting the CSI 300 had the largest net capital inflow of 98.752 billion yuan, while the ETFs targeting the CSI A500 had the largest net capital outflow of 4.232 billion yuan. In the past week, Huatai - Peregrine CSI 300 ETF and E Fund CSI 300 ETF had relatively high capital inflows of 34.004 billion yuan and 24.698 billion yuan respectively [5][29][31].

Group 1 - Global assets have entered a volatile phase, but many fund managers see investment opportunities emerging in the current equity market [1] - Several newly established funds since March have begun building positions in recent days, indicating a favorable timing for investment [1][2] - A-share market has undergone a prolonged risk release process, with expectations for both volume and price to rise in the medium to long term [1] Group 2 - The Kai Stone Yuanxin Mixed Fund, established on March 6, saw a significant drop of 1.95% on April 7, suggesting a large-scale position building on that day [1] - The Dongfang Low Carbon Economy Mixed Fund, established on March 4, maintained a unit net value of 1 until April 8, when it began to show a slight upward trend [2] - Notable fund managers have also initiated clear position building in their newly launched products in recent days [2] Group 3 - Passive funds, including ETFs, are actively entering the market, contributing to an influx of new capital [2][3] - Several ETFs, such as the Wanjiasheng Internet Technology ETF and the Huabao CSI 300 Free Cash Flow ETF, are set to launch soon, with fund managers likely to build positions at relatively low market levels [2][3] Group 4 - The Xinyang Fund noted that many new ETF managers have quickly increased their equity positions, with the Jianxin CSI Innovation Value ETF reaching approximately 50% equity investment by March 28 [3] - The long-term outlook for Chinese assets remains positive, with expectations for continued high volatility in risk assets in the second quarter due to external disturbances [3][4] - The current valuation levels are considered attractive, and there is optimism about the long-term development of the capital market as quality companies emerge [4]