Core Viewpoint - The market is experiencing a significant influx of funds into equity ETFs, indicating strong investor confidence ahead of the holiday period [1][3][4] Fund Inflows - Since September 23, equity ETFs have reversed a previous trend of net outflows, showing sustained net inflows [1] - On September 26, the net subscription amount for equity ETFs reached a record high of 22.2 billion, marking the largest single-day inflow in over five months [1] - On September 29, another substantial inflow occurred, with net subscriptions for equity ETFs totaling 12.2 billion, driven primarily by ETFs tracking the CSI A500 index, which attracted 7.5 billion [3] Weekly Trends - Over the week leading up to the holiday (September 23 to September 29), total net inflows into equity ETFs exceeded 52 billion, indicating a clear trend of "bottom-fishing" or strategic positioning [3] - Specific products such as the Fortune CSI A500 ETF and Huatai-PB CSI A500 ETF saw significant net subscriptions of 5.7 billion and 4.3 billion respectively, reflecting strong interest in emerging broad-based indices [3] Market Sentiment - The continuous inflow of funds has led to several ETFs reaching historical highs in share size, indicating growing investor confidence [4] - Analysts suggest that the trend of holding stocks through the holiday reflects a broader consensus among institutional and individual investors regarding the long-term value of A-shares [4] - The influx of funds through ETFs, known for their diversified investment and high transparency, is expected to stabilize market sentiment and build momentum for post-holiday performance [4]

Group 1 - The A-share market is experiencing a bullish atmosphere, with trading volume reaching new highs and liquidity remaining abundant, driving market sentiment [2][4] - On August 18, the Shanghai Composite Index broke through a 10-year high, indicating a significant increase in market activity and investment opportunities [2][4] - The South Fund's South China A500 ETF (code: 159352) is positioned as a tool for investors to access high-quality core assets in China, utilizing an innovative index that combines ESG screening with market leaders [2][4] Group 2 - The A-share market has gone through four phases in the first half of 2025, including technology asset revaluation and policy recovery, leading to a positive market sentiment [3] - The South China A500 ETF has shown strong performance amid market volatility, tracking the CSI A500 Index, which covers core quality enterprises in China [4][5] - As of August 18, the total scale of ETFs reached 4.77 trillion yuan, with a year-to-date increase of 1.04 trillion yuan, reflecting a growth rate of 27.88% compared to the end of last year [4] Group 3 - The South China A500 ETF, established on September 25, 2024, offers investors a convenient way to share in the growth dividends of China's core assets through precise index tracking and robust management [5][6] - The CSI A500 Index prioritizes the largest publicly traded companies by free-float market capitalization across 89 sectors, providing a stronger representation of A-share core assets compared to other indices [5][6] - The CSI A500 Index has demonstrated strong historical returns, with an annualized return of 8.0% over the past 20 years, outperforming the CSI 300 Index by 0.9% [6] Group 4 - The South Fund has extensive experience in index investment, with a diverse product line and strong management capabilities, enhancing the asset allocation options for investors [6][7] - The South China A500 ETF is redefining the investment paradigm for core Chinese assets through precise tracking, clear style characteristics, and ESG advantages [7] - The South Fund's management expertise is validated by the substantial scale of its various broad-based index products, with several exceeding 100 billion yuan in assets [7]

Summary of Key Points Core Viewpoint - The trading volume of the CSI A500 Index ETFs reached a total of 30.166 billion yuan today, marking an increase of 3.119 billion yuan from the previous trading day, with a growth rate of 11.53% [1]. Trading Volume Analysis - The Southern CSI A500 ETF (159352) had a trading volume of 4.899 billion yuan, an increase of 0.967 billion yuan, with a growth rate of 24.60% [1]. - The Guotai CSI A500 ETF (159338) recorded a trading volume of 3.530 billion yuan, up by 0.429 billion yuan, reflecting a growth rate of 13.83% [1]. - The GF CSI A500 ETF (563800) saw a trading volume of 1.742 billion yuan, increasing by 0.380 billion yuan, with a growth rate of 27.93% [1]. - Notably, the Guolianan CSI A500 Enhanced ETF (563630) and the Penghua CSI A500 ETF (512020) experienced significant increases in trading volume, with growth rates of 797.61% and 186.10% respectively [1]. Market Performance - As of market close, the CSI A500 Index (000510) rose by 1.06%, while the average increase for related ETFs tracking the CSI A500 Index was 0.97% [1]. - The top performers included the Huatai-PB CSI A500 ETF (563880) and the Ping An CSI A500 ETF (159215), which increased by 1.39% and 1.27% respectively [1]. Detailed Trading Data - A detailed table of various ETFs shows their respective trading volumes, daily changes, and percentage increases, highlighting significant movements in the market [2]. - For instance, the Huatai-PB CSI A500 ETF (563880) had a remarkable increase of 108.23% in trading volume [2]. Conclusion - The CSI A500 Index ETFs are experiencing heightened trading activity and positive market performance, indicating strong investor interest and potential opportunities in this segment [1][2].

Group 1 - The A-share market indices have recently reached new highs, leading to increased attention on ETFs, with trading volumes exceeding 400 billion yuan on several days [1] - The overall ETF market saw significant trading activity, with daily trading volumes of 410.5 billion yuan, 435.1 billion yuan, and nearly 493 billion yuan over three consecutive days [1] - A total of 15 broad-based ETFs had average daily trading volumes exceeding 1 billion yuan during this period, with notable performances from specific ETFs like Huaxia's STAR Market 50 ETF and the CSI A500 ETF [1] Group 2 - The average return of funds this year is 10.44%, while ETFs have performed better with an average return of 15.51%, with several ETFs exceeding 100% returns [2] - Analysts suggest a "core-satellite" strategy for asset allocation, where broad-based index funds serve as the main investment, while specific industry index funds are allocated as satellite positions [2] - The growth of stock ETFs contrasts with active equity funds, highlighting the diverse applications of ETFs in asset allocation and strategy [3]

Market Overview - The Shanghai Composite Index fell 0.33% to 3593.66 points, the Shenzhen Component Index declined 0.22% to 11168.14 points, and the ChiNext Index dropped 0.23% to 2340.06 points. The total trading volume of A-shares in the two markets was 1815.8 billion yuan. The top-performing sectors were electronics (1.37%), computer (1.26%), and real estate (0.63%), while the bottom-performing sectors were building decoration (-2.06%), building materials (-1.69%), and food and beverage (-1.65%) [2][6]. Stock ETFs - The top-traded stock ETFs were Huaxia SSE STAR 50 ETF (up 2.12% with a discount rate of 2.06%), Huaxia CSI A500 ETF (down 0.39% with a discount rate of -0.51%), and Southern CSI A500 ETF (down 0.28% with a discount rate of -0.24%) [3][7]. - The top ten stock ETFs by trading volume and their details are presented in Chart 1, including price, daily change, tracking index, IOPV, discount rate, trading volume, and latest share reference [8]. Bond ETFs - The top-traded bond ETFs were Haifutong CSI Short-term Financing Bond ETF (up 0.01% with a discount rate of -0.00%), Southern SSE Benchmark Market-making Corporate Bond ETF (down 0.00% with a discount rate of -0.26%), and Pengyang CCDC 30-year Treasury Bond ETF (down 0.32% with a discount rate of 0.10%) [4][9]. - The top five bond ETFs by trading volume and their details are presented in Chart 2, including price, daily change, discount rate, and trading volume [10]. Gold ETFs - Gold AU9999 fell 0.15% and Shanghai Gold declined 0.20%. The top-traded gold ETFs were Huaan Gold ETF (down 0.20% with a discount rate of -0.28%), E Fund Gold ETF (down 0.20% with a discount rate of -0.29%), and Bosera Gold ETF (down 0.22% with a discount rate of -0.29%) [12]. - The top five gold ETFs by trading volume and their details are presented in Chart 3, including price, daily change, trading volume, IOPV, and discount rate [13]. Commodity Futures ETFs - The top-traded commodity futures ETFs were CCB Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF (up 1.99% with a discount rate of 2.90%), Huaxia Feed Soybean Meal Futures ETF (down 0.31% with a discount rate of -0.82%), and Dacheng Non-ferrous Metals Futures ETF (down 0.58% with a discount rate of -0.49%) [15]. - The details of commodity futures ETFs, including trading volume, tracking index, and its daily change, are presented in Chart 4 [16]. Cross-border ETFs - The previous trading day saw the Dow Jones Industrial Average fall 0.70%, the Nasdaq rise 0.18%, the S&P 500 rise 0.07%, and the German DAX rise 0.23%. Today, the Hang Seng Index fell 1.09% and the Hang Seng China Enterprises Index dropped 1.16%. The top-traded cross-border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (down 0.48% with a discount rate of 0.19%), GF CSI Hong Kong Innovative Drugs ETF (up 0.07% with a discount rate of -0.44%), and Huaxia Hang Seng Tech ETF (down 1.29% with a discount rate of -0.82%) [17]. - The top five cross-border ETFs by trading volume and their details are presented in Chart 5 [18]. Money Market ETFs - The top-traded money market ETFs were Yin Hua Day Profit ETF, Hua Bao Add Benefit ETF, and CCB Add Benefit Money Market ETF [19]. - The top three money market ETFs by trading volume and their details are presented in Chart 6 [20].

Core Viewpoint - The trading volume of the CSI A500 Index ETFs increased significantly today, indicating heightened market activity and investor interest in this segment [1][2]. Trading Volume Summary - The total trading volume of the CSI A500 Index ETFs reached 24.528 billion yuan, an increase of 4.566 billion yuan from the previous trading day, representing a growth rate of 22.88% [1]. - Notable increases in trading volume were observed in the following ETFs: - E Fund CSI A500 ETF (159361) saw a trading volume of 1.443 billion yuan, up 626 million yuan, a rise of 76.61% [2]. - Southern CSI A500 ETF (159352) had a trading volume of 3.858 billion yuan, an increase of 615 million yuan, with a growth rate of 18.96% [2]. - A500 Fund (563360) recorded a trading volume of 2.985 billion yuan, up 596 million yuan, reflecting a 24.93% increase [2]. - The Tianhong CSI A500 Enhanced Strategy ETF (159240) and the Rongtong CSI A500 ETF (159379) exhibited the highest increases in trading volume, with growth rates of 508.86% and 402.54%, respectively [1]. Market Performance Summary - As of market close, the CSI A500 Index (000510) rose by 0.84%, while the average increase for related ETFs was 0.89% [1]. - The top-performing ETFs included: - Huatai-PB CSI A500 ETF (563880) with a rise of 1.15% [1]. - China Asset Management CSI A500 ETF (512050) increased by 1.09% [1].

Market Overview - The Shanghai Composite Index rose 0.72% to close at 3559.79 points, the Shenzhen Component Index rose 0.86% to close at 11007.49 points, and the ChiNext Index rose 0.87% to close at 2296.88 points. The trading volume of A-shares in the two markets was 1727.4 billion yuan. The top-performing sectors were building materials (6.06%), building decoration (3.79%), and steel (3.44%), while the underperforming sectors were banking (-0.77%), comprehensive (-0.34%), and computer (-0.31%) [2][6] Stock ETF - The top-traded stock ETFs today were Huaxia CSI A500 ETF (up 0.60%, discount rate 0.72%), Southern CSI A500 ETF (up 0.77%, discount rate 0.75%), and Huatai-PineBridge CSI 300 ETF (up 0.61%, discount rate 0.64%) [3][7] Bond ETF - The top-traded bond ETFs today were Haifutong CSI Short-term Financing Bond ETF (down 0.01%, discount rate -0.00%), Huaxia CSI AAA Sci-tech Innovation Corporate Bond ETF (down 0.08%, discount rate -0.01%), and Fullgoal CSI AAA Sci-tech Innovation Corporate Bond ETF (down 0.03%, discount rate -0.05%) [4][9] Gold ETF - Gold AU9999 rose 0.50% and Shanghai Gold rose 0.63% today. The top-traded gold ETFs were Huaan Gold ETF (up 0.58%, discount rate 0.45%), E Fund Gold ETF (up 0.60%, discount rate 0.46%), and Bosera Gold ETF (up 0.58%, discount rate 0.44%) [12] Commodity Futures ETF - Huaxia Feed Soybean Meal Futures ETF rose 0.40% with a discount rate of 0.69%, Dacheng Non-ferrous Metals Futures ETF rose 1.54% with a discount rate of 1.69%, and Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 1.94% with a discount rate of 1.59% [15] Cross-border ETF - The Dow Jones Industrial Average fell 0.32%, the Nasdaq Composite rose 0.05%, the S&P 500 fell 0.01%, and the German DAX fell 0.33% in the previous trading session. Today, the Hang Seng Index rose 0.68% and the Hang Seng China Enterprises Index rose 0.60%. The top-traded cross-border ETFs today were E Fund CSI Hong Kong Securities Investment Theme ETF (up 3.30%, discount rate 3.32%), GF CSI Hong Kong Innovative Drug ETF (down 1.03%, discount rate -1.22%), and Huaxia Hang Seng Tech ETF (up 1.34%, discount rate 1.18%) [17] Money Market ETF - The top-traded money market ETFs today were Huabao Tianyi ETF, Yin Hua Rili ETF, and Jianxin Tianyi Money Market ETF [19]

Report Summary 1. Market Overview - On July 17, 2025, the Shanghai Composite Index rose 0.37% to close at 3516.83, the Shenzhen Component Index rose 1.43% to close at 10873.62, and the ChiNext Index rose 1.75% to close at 2269.33. The total trading volume of A-shares in the two markets was 1560.5 billion yuan. The top-performing sectors were national defense and military industry (2.74%), communication (2.41%), and electronics (2.18%), while the bottom-performing sectors were banking (-0.42%), transportation (-0.39%), and environmental protection (-0.26%) [2][6] 2. Stock ETFs - The top trading volume stock ETFs were Huaxia CSI A500 ETF (up 1.32%, discount rate 1.18%), Huaxia SSE STAR 50 ETF (up 0.76%, discount rate 0.74%), and Southern CSI A500 ETF (up 1.07%, discount rate 0.97%) [3][7] 3. Bond ETFs - The top trading volume bond ETFs were Penghua SSE AAA Sci-Tech Bond ETF (up 0.07%, discount rate 0.10%), Haifutong CSI Short-term Financing ETF (up 0.01%, discount rate 0.01%), and Harvest CSI AAA Sci-Tech Innovation Corporate Bond ETF (up 0.10%, discount rate 0.10%) [4][9] 4. Gold ETFs - Gold AU9999 fell 0.19% and Shanghai Gold fell 0.06%. The top trading volume gold ETFs were Huaan Gold ETF (down 0.07%, discount rate -0.07%), Boshi Gold ETF (down 0.09%, discount rate -0.05%), and E Fund Gold ETF (down 0.10%, discount rate -0.08%) [12] 5. Commodity Futures ETFs - Huaxia Feed Soybean Meal Futures ETF rose 1.50% with a discount rate of 1.70%, Dacheng Non-ferrous Metals Futures ETF fell 0.12% with a discount rate of -0.15%, and CCB Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.30% with a discount rate of 0.10% [14] 6. Cross-border ETFs - The previous trading day, the Dow Jones Industrial Average rose 0.53%, the Nasdaq rose 0.25%, the S&P 500 rose 0.32%, and the German DAX fell 0.21%. On July 17, the Hang Seng Index fell 0.08% and the Hang Seng China Enterprises Index fell 0.09%. The top trading volume cross-border ETFs were GF CSI Hong Kong Innovative Drugs ETF (up 5.28%, discount rate 5.71%), E Fund CSI Hong Kong Securities Investment Theme ETF (up 1.06%, discount rate 1.33%), and Huaxia Hang Seng Tech ETF (up 0.41%, discount rate 1.07%) [16] 7. Money ETFs - The top trading volume money ETFs were Huabao Tianyi ETF, Yin Hua Rili ETF, and CCB Tianyi Money ETF [18]

Group 1 - A total of 29 stock ETFs saw an increase of over 100 million shares on the previous day [1] - Huatai-PB CSI A500 ETF increased by 2.19 billion shares [1] - Southern CSI A500 ETF increased by 1.623 billion shares [1]

Core Insights - As of May 28, the total net inflow of funds into ETFs in the two markets reached 7.70 billion yuan, with total inflows of 90.597 billion yuan and outflows of 82.897 billion yuan [1] Fund Type Summary - Stock ETFs experienced a net outflow of 3.575 billion yuan, while bond ETFs saw a net inflow of 10.630 billion yuan [1] - Money market ETFs had a net inflow of 2.084 billion yuan, commodity ETFs had a net inflow of 5.131 million yuan, and QDII ETFs faced a net outflow of 1.490 billion yuan [1] Top Inflows and Outflows - The ETFs with the highest net inflows were: - Huaxia CSI 50 ETF (510050) with an inflow of 72.018 million yuan - Dividend Low Volatility ETF (512890) with an inflow of 63.984 million yuan - Bosera Hang Seng Healthcare QDII ETF (513060) with an inflow of 59.716 million yuan [1] - The ETFs with the highest net outflows were: - E Fund CSI Overseas China Internet 50 QDII ETF (513050) with an outflow of 287 million yuan - Huatai-PB CSI 300 ETF (510300) with an outflow of 265 million yuan - Southern CSI A500 ETF (159352) with an outflow of 261 million yuan [1]