Group 1 - The core point of the article is the announcement of the liquidation of the Guolianan New Materials ETF, which will begin on August 6, 2025, due to insufficient asset value and number of shareholders [2] - The fund was established in May 2021 with an initial net subscription amount of approximately 299 million yuan, but by the second quarter of 2025, its net asset value had dropped to about 12.83 million yuan [3] - The fund's net asset value significantly declined shortly after its establishment, falling to 55 million yuan by the end of the third quarter of 2021, and remained below 20 million yuan in subsequent quarters starting from the third quarter of 2022 [3][4] Group 2 - The Guolianan New Materials ETF tracks the CSI New Materials Theme Index, which includes 50 listed companies involved in advanced steel, non-ferrous metals, chemicals, and other new materials [4] - The new materials sector was already in a downturn when the fund was launched, with the CSI New Materials Theme Index reaching a peak on August 6, 2021, before entering a prolonged decline [4] - Since its inception, the fund's unit net value has decreased by 39.29%, and it has seen a 47.97% decline over the past three years [4]