Group 1 - The stock price of Chuanfa Longmang has declined by 0.45% to 11.10 CNY per share, with a total market capitalization of 20.972 billion CNY and a trading volume of 585 million CNY, reflecting a cumulative drop of 5.45% over the last three days [1] - Chuanfa Longmang's main business segments include financial service outsourcing (45.58% of revenue), industrial-grade monoammonium phosphate (22.61%), feed-grade dicalcium phosphate (12.62%), and other products [1] - The company was established on May 20, 1997, and went public on December 3, 2009, located in Chengdu, Sichuan Province [1] Group 2 - The top circulating shareholder of Chuanfa Longmang is the Bosera Chengyu Economic Circle ETF (159623), which entered the top ten shareholders in the second quarter, holding 2.6171 million shares, representing 0.15% of circulating shares [2] - The Bosera Chengyu Economic Circle ETF has experienced a floating loss of approximately 130,900 CNY today and a total floating loss of 1.6749 million CNY during the three-day decline [2] - The ETF was established on August 15, 2022, with a current size of 3.365 billion CNY, and has achieved a year-to-date return of 31.45% [2]

Core Viewpoint - The gold stock ETF market is experiencing a fee reduction trend as competition intensifies, with Huaxia Fund leading the charge by lowering management and custody fees to attract investors [1][2]. Fee Reduction Details - Huaxia Fund announced a reduction in management fees from 0.50% to 0.15% and custody fees from 0.10% to 0.05% for its gold stock ETF and its linked fund, effective from May 15 [2][4]. - The comprehensive management fee for the gold stock ETF has decreased from 0.6% to 0.2%, aligning with the lowest fee rates in the current ETF market [2][4]. Market Performance - As of May 13, the total scale of six gold stock ETFs reached 4.762 billion, marking a 119.9% increase compared to the end of the previous year [1][5]. - The largest gold stock ETF, Yongying, has a scale of 3.858 billion, while Huaxia's gold stock ETF follows with 560 million [5]. Index Performance - The index tracked by the gold stock ETF has seen a year-to-date increase of 27.42%, reflecting strong performance in the gold mining sector [7][9]. - The index comprises 50 large-cap companies involved in gold mining, refining, and sales, with gold mining stocks accounting for over 80% of the index weight [7][8]. Industry Trends - The trend of fee reductions is not limited to gold stock ETFs; multiple ETFs across various categories, including equity and bond ETFs, have also announced fee cuts this year [10][11]. - The regulatory environment encourages lower financial service costs, prompting fund companies to respond to investor sensitivity towards fees, especially in volatile markets [11].