Group 1 - The core viewpoint is that the A-share market is currently at a historically low valuation level, presenting strong allocation value [2] - The Hu-Shen 300 Free Cash Flow ETF Morgan (563900) has seen a continuous inflow of funds, totaling 289 million yuan over the past 12 days [1] - The Hu-Shen 300 Free Cash Flow Index reflects the performance of 50 listed companies with high free cash flow rates, indicating strong cash flow generation capabilities [2] Group 2 - China Shenhua's dividend rate for 2024 is projected to be 76.5%, continuing a trend of over 70% for four consecutive years, making it a representative of high dividend assets [2] - The coal industry is experiencing a tightening supply-demand relationship, supported by economic recovery and increased electricity demand, which is expected to bolster thermal coal prices [2] - The Hu-Shen 300 Free Cash Flow ETF Morgan has reached a new high in scale at 429 million yuan since its inception [1]

Group 1 - The Hong Kong stock market indices experienced a decline as of June 30, 2025, with sectors such as textile services and defense showing gains, while banking and consumer discretionary sectors faced losses [1] - The Hong Kong Dividend Index ETF (513630) recorded a trading volume of 445 million yuan on June 30, 2025, with an average daily trading volume of 293 million yuan for June, representing a growth of approximately 28.5% compared to the previous month [2] - The S&P Hong Kong Low Volatility Dividend Index (SPAHLVCP.SPI) saw a significant increase of 22.05% over the past year, outperforming the CSI Dividend Index (-1.12%) and the CSI Low Volatility Dividend Index (5.51%) [2] Group 2 - Bosideng reported a revenue of approximately 25.902 billion yuan for the fiscal year 2024/25, marking an 11.6% year-on-year increase, with net profit rising by 14.3% to about 3.514 billion yuan, achieving record highs for eight consecutive years [3] - The People's Bank of China suggested increasing the intensity of monetary policy adjustments to maintain ample liquidity and encourage financial institutions to boost credit supply during its second-quarter meeting [3] - Morgan Asset Management launched an international "Dividend Toolbox" series of preferred funds aimed at providing Chinese investors with diversified dividend investment solutions across A-shares, Hong Kong stocks, and Asian markets [4]

Group 1 - The core viewpoint highlights the active trading and positive performance of the China A500 ETF Morgan and A500 Enhanced ETF Morgan, with the CSI A500 Index showing a slight increase of 0.14% as of 13:36 on May 23, 2025 [1] - Notable stocks within the CSI A500 Index include Siasun (601127) reaching a daily limit increase, Betta Pharmaceuticals (300558) rising by 12.02%, Huahai Pharmaceutical (600521) increasing by 8.47%, Tigermed (300347) up by 7.92%, and Xinlitai (002294) gaining 5.65% [1] Group 2 - Institutions emphasize the increasing asset allocation value in China, with "Opportunities in China amid Global Changes" becoming a significant topic in mid-term strategy outlooks [3] - The Chinese economy is showing steady improvement, supported by a combination of market stabilization policies that inject more certainty into the capital market, enhancing the attractiveness of Chinese assets [3] - Brokerages generally view Chinese assets as having both risk-hedging properties and long-term allocation value, positioning them as a "safe haven" for global funds [3] - Morgan Asset Management is focused on identifying relatively "certain" quality asset investment opportunities, launching the international "Dividend Toolbox" series of preferred funds to provide diversified dividend investment solutions for Chinese investors covering A-shares, Hong Kong stocks, and Asian markets [3]