Report Summary 1. Market Overview - On December 25, 2025, the Shanghai Composite Index rose 0.47% to close at 3959.62 points, the Shenzhen Component Index rose 0.33% to close at 13531.41 points, and the ChiNext Index rose 0.30% to close at 3239.34 points. The trading volume of A-shares in the two markets was 1944.1 billion yuan [2][6]. - The top - performing sectors were National Defense and Military Industry (2.91%), Light Industry Manufacturing (1.59%), and Machinery and Equipment (1.51%). The under - performing sectors were Comprehensive (-1.12%), Non - ferrous Metals (-0.77%), and Commerce and Retail (-0.47%) [2][6]. 2. Stock ETFs - The top - traded stock ETFs were Huatai - Peregrine CSI A500 ETF (up 0.16%, discount rate 0.25%), China Asset Management CSI A500 ETF (up 0.25%, discount rate 0.31%), and Southern CSI A500 ETF (up 0.08%, discount rate 0.21%) [3][7]. 3. Bond ETFs - The top - traded bond ETFs were Haifutong CSI Short - term Financing Bond ETF (up 0.01%, discount rate -0.01%), China Asset Management CSI AAA Sci - tech Innovation Corporate Bond ETF (up 0.17%, discount rate -0.05%), and Southern Shanghai Stock Exchange Benchmark Market - making Corporate Bond ETF (up 0.03%, discount rate -0.04%) [4][9]. 4. Gold ETFs - Gold AU9999 fell 0.47% and Shanghai Gold fell 0.61%. The top - traded gold ETFs were Huaan Gold ETF (down 0.79%, discount rate -0.66%), E Fund Gold ETF (down 0.76%, discount rate -0.63%), and Bosera Gold ETF (down 0.74%, discount rate -0.60%) [12]. 5. Commodity Futures ETFs - Dacheng Non - ferrous Metals Futures ETF fell 0.56% with a discount rate of 0.44%, Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.16% with a discount rate of 0.26%, and China Asset Management Feed Soybean Meal Futures ETF rose 0.05% with a discount rate of 3.52% [13]. 6. Cross - border ETFs - The previous trading day, the Dow Jones Industrial Average rose 0.60%, the Nasdaq rose 0.22%, and the S&P 500 rose 0.32%. German stocks were closed, and Hong Kong stocks were closed on this day. The top - traded cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (up 0.29%, discount rate -0.16%), Huatai - Peregrine CSI KRX Korea - China Semiconductor ETF (up 0.28%, discount rate 2.92%), and GF CSI Hong Kong Innovative Drugs ETF (up 0.08%, discount rate -0.22%) [15]. 7. Money ETFs - The top - traded money ETFs were Yin Hua Day - Profit ETF, Huabao Tianyi ETF, and Money ETF [17].

Market Overview - On December 22, 2025, the Shanghai Composite Index rose 0.69% to close at 3917.36 points, the Shenzhen Component Index rose 1.47% to close at 13332.73 points, and the ChiNext Index rose 2.23% to close at 3191.98 points. The trading volume of A-shares in the two markets was 1882.4 billion yuan. The top-performing sectors were communication (4.28%), comprehensive (2.63%), and electronics (2.62%), while the bottom-performing sectors were media (-0.61%), banking (-0.52%), and beauty care (-0.45%) [2][6] Stock ETF - The top-traded stock ETFs on this day were Huatai-PineBridge CSI A500 ETF, which rose 1.22% with a discount rate of 1.28%; ChinaAMC CSI A500 ETF, which rose 1.03% with a discount rate of 1.20%; and Guotai CSI A500 ETF, which rose 1.03% with a discount rate of 1.16%. The top ten stock ETFs by trading volume are also listed in the report, including information such as price, change rate, tracking index, and discount rate [3][7][8] Bond ETF - The top-traded bond ETFs were Haifutong CSI Short-term Financing Bond ETF, which remained unchanged with a discount rate of -0.01%; China Merchants CSI AAA Science and Technology Innovation Corporate Bond ETF, which rose 0.06% with a discount rate of -0.18%; and Penghua Shanghai Stock Exchange AAA Science and Technology Innovation Bond ETF, which rose 0.03% with a discount rate of -0.18%. The top five bond ETFs by trading volume are also detailed [4][9][10] Gold ETF - Gold AU9999 rose 1.77% and Shanghai Gold rose 1.96%. The top-traded gold ETFs were Huaan Gold ETF, which rose 2.13% with a discount rate of 2.01%; Boshi Gold ETF, which rose 2.01% with a discount rate of 1.92%; and E Fund Gold ETF, which rose 2.01% with a discount rate of 1.91%. The top five gold ETFs by trading volume are presented [12][13] Commodity Futures ETF - Dacheng Nonferrous Metals Futures ETF rose 0.83% with a discount rate of 1.38%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 1.65% with a discount rate of 1.81%; and ChinaAMC Feed Soybean Meal Futures ETF fell 0.10% with a discount rate of 3.06%. Information on these commodity futures ETFs is provided [15][16] Cross-border ETF - The previous trading day, the Dow Jones Industrial Average rose 0.38%, the Nasdaq Composite rose 1.31%, the S&P 500 rose 0.88%, and the German DAX rose 0.37%. On this day, the Hang Seng Index rose 0.43% and the Hang Seng China Enterprises Index rose 0.43%. The top-traded cross-border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF, which fell 0.10% with a discount rate of -0.79%; Huatai-PineBridge CSI KRX China-South Korea Semiconductor ETF, which rose 3.57% with a discount rate of 6.06%; and GF CSI Hong Kong Innovative Drug ETF, which fell 1.18% with a discount rate of -1.53%. The top five cross-border ETFs by trading volume are shown [18][19] Money ETF - The top-traded money ETFs on this day were Yin Hua Day Profit ETF, Hua Bao Add Benefit ETF, and Money ETF. The top three money ETFs by trading volume are listed [20][21]

Market Overview - The Shanghai Composite Index rose 0.36% to close at 3890.45 points, the Shenzhen Component Index rose 0.66% to close at 13140.21 points, and the ChiNext Index rose 0.49% to close at 3122.24 points. The total trading volume of A-shares in the two markets was 1748.9 billion yuan. The top-performing sectors were commerce and retail (3.66%), comprehensive (2.22%), and light industry manufacturing (2.17%), while the bottom-performing sectors were banking (-0.44%), electronics (-0.29%), and coal (-0.29%) [2][6] Stock ETF - The top-traded stock ETFs were Huatai-PineBridge CSI A500 ETF (up 0.65% with a discount rate of 0.65%), ChinaAMC CSI A500 ETF (up 0.78% with a discount rate of 0.76%), and Southern CSI A500 ETF (up 0.66% with a discount rate of 0.68%) [3][7] Bond ETF - The top-traded bond ETFs were Haifutong CSI Short-term Commercial Paper ETF (up 0.00% with a discount rate of -0.01%), ChinaAMC Shanghai Stock Exchange Benchmark Market-making Treasury Bond ETF (down 0.03% with a discount rate of 0.09%), and Penghua Shanghai Stock Exchange AAA Sci-Tech Innovation Bond ETF (up 0.06% with a discount rate of -0.16%) [4][9] Gold ETF - The top-traded gold ETFs were HuaAn Gold ETF (down 0.05% with a discount rate of -0.11%), Bosera Gold ETF (down 0.02% with a discount rate of -0.10%), and E Fund Gold ETF (down 0.02% with a discount rate of -0.11%) [12] Commodity Futures ETF - The top-traded commodity futures ETFs were Dacheng Non-ferrous Metals Futures ETF (up 1.00% with a discount rate of 0.91%), CCB Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF (up 0.75% with a discount rate of 0.85%), and ChinaAMC Feed Soybean Meal Futures ETF (up 0.31% with a discount rate of 2.82%) [13] Cross-border ETF - The top-traded cross-border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (up 1.56% with a discount rate of 0.73%), GF CSI Hong Kong Innovative Drug ETF (up 2.17% with a discount rate of 1.43%), and Huatai-PineBridge Hang Seng Technology ETF (up 1.84% with a discount rate of 0.94%) [16] Money Market ETF - The top-traded money market ETFs were Huabao Tianyi ETF, Yin Hua Day Profit ETF, and Money Market ETF [18]

Report Summary 1. Market Overview - The Shanghai Composite Index rose 0.16% to close at 3876.37 points, the Shenzhen Component Index fell 1.29% to close at 13053.97 points, and the ChiNext Index fell 2.17% to close at 3107.06 points. The trading volume of A-shares in the two markets was 1677 billion yuan. The top-performing sectors were banking (1.97%), coal (1.89%), and petroleum and petrochemicals (1.25%), while the bottom-performing sectors were power equipment (-2.22%), communications (-1.58%), and electronics (-1.51%) [2][6]. 2. Stock ETFs - The top-trading-volume stock ETFs were Huatai-PineBridge CSI A500 ETF (down 0.73%, premium rate -0.60%), ChinaAMC CSI A500 ETF (down 0.69%, premium rate -0.62%), and Southern CSI A500 ETF (down 0.74%, premium rate -0.59%) [3][7]. 3. Bond ETFs - The top-trading-volume bond ETFs were Haifutong CSI Short-term Financing Bond ETF (up 0.01%, premium rate -0.01%), China Merchants CSI AAA Technology Innovation Corporate Bond ETF (up 0.01%, premium rate -0.23%), and Penghua SSE AAA Sci-Tech Innovation Bond ETF (up 0.03%, premium rate -0.18%) [4][9]. 4. Gold ETFs - Gold AU9999 rose 0.29% and Shanghai Gold rose 0.09%. The top-trading-volume gold ETFs were HuaAn Gold ETF (up 0.09%, premium rate 0.23%), Bosera Gold ETF (up 0.08%, premium rate 0.21%), and E Fund Gold ETF (up 0.07%, premium rate 0.20%) [12]. 5. Commodity Futures ETFs - Dacheng Non-ferrous Metals Futures ETF rose 0.16% with a premium rate of 0.51%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 1.26% with a premium rate of 1.40%; China Feed Soybean Meal Futures ETF fell 0.21% with a premium rate of 1.73% [15]. 6. Cross-border ETFs - The previous trading day saw the Dow Jones Industrial Average down 0.47%, the Nasdaq down 1.81%, the S&P 500 down 1.16%, and the German DAX down 0.48%. Today, the Hang Seng Index rose 0.12% and the Hang Seng China Enterprises Index fell 0.02%. The top-trading-volume cross-border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (down 1.11%, premium rate -1.13%), Huatai-PineBridge Hang Seng Tech ETF (down 1.26%, premium rate -1.60%), and GF CSI Hong Kong Innovative Drug ETF (up 0.16%, premium rate -0.21%) [17]. 7. Money Market ETFs - The top-trading-volume money market ETFs were YinHua RiLi ETF, HuaBao TianYi ETF, and Money Market ETF [19].

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Views - On December 17, 2025, the A - share market showed an upward trend, with the Shanghai Composite Index rising 1.19% to 3870.28 points, the Shenzhen Component Index rising 2.40% to 13224.51 points, and the ChiNext Index rising 3.39% to 3175.91 points. The total trading volume of A - shares in the two markets was 1834.5 billion yuan. The sectors with the highest gains were communication (5.07%), non - ferrous metals (3.03%), and electronics (2.48%), while the sectors with the highest losses were agriculture, forestry, animal husbandry and fishery (- 0.54%), national defense and military industry (- 0.20%), and coal (- 0.11%) [2][6]. 3. Summary by Directory Market Overview - The Shanghai Composite Index rose 1.19% to 3870.28 points, the Shenzhen Component Index rose 2.40% to 13224.51 points, and the ChiNext Index rose 3.39% to 3175.91 points. The trading volume of A - shares in the two markets was 1834.5 billion yuan. The communication, non - ferrous metals, and electronics sectors led the gains, while the agriculture, forestry, animal husbandry and fishery, national defense and military industry, and coal sectors led the losses [2][6]. Stock ETF - The top - traded stock ETFs were Huatai - Peregrine CSI A500 ETF (up 1.90% with a discount rate of 2.09%), China Asset Management CSI A500 ETF (up 1.75% with a discount rate of 2.04%), and Southern CSI A500 ETF (up 1.93% with a discount rate of 2.12%). The table also provided details of the top ten traded stock ETFs [3][7][8]. Bond ETF - The top - traded bond ETFs were Haifutong CSI Short - Term Financing ETF (up 0.00% with a discount rate of - 0.02%), China Asset Management Shanghai Stock Exchange Benchmark Market - Making Treasury Bond ETF (up 0.21% with a discount rate of 0.23%), and China Merchants CSI AAA Science and Technology Innovation Corporate Bond ETF (unchanged with a discount rate of - 0.22%). The table showed the top five traded bond ETFs [4][9][10]. Gold ETF - Gold AU9999 rose 0.81% and Shanghai Gold rose 0.76%. The top - traded gold ETFs were Huaan Gold ETF (up 0.76% with a discount rate of 0.95%), Bosera Gold ETF (up 0.76% with a discount rate of 0.94%), and E Fund Gold ETF (up 0.77% with a discount rate of 0.94%). The table presented the top five traded gold ETFs [12][13]. Commodity Futures ETF - Dacheng Non - Ferrous Metals Futures ETF rose 0.96% with a discount rate of 0.50%, China Asset Management Feed Soybean Meal Futures ETF fell 0.71% with a discount rate of 2.05%, and Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.68% with a discount rate of 0.75%. The table provided an overview of commodity futures ETFs [15][16]. Cross - border ETF - The previous trading day saw the Dow Jones Industrial Average fall 0.62%, the Nasdaq rise 0.23%, the S&P 500 fall 0.24%, and the German DAX fall 0.63%. On December 17, the Hang Seng Index rose 0.92% and the Hang Seng China Enterprises Index rose 0.98%. The top - traded cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (up 1.91% with a discount rate of 1.48%), China Asset Management Hang Seng Technology ETF (up 0.97% with a discount rate of 0.80%), and Huatai - Peregrine Hang Seng Technology ETF (up 0.99% with a discount rate of 0.76%). The table showed the top five traded cross - border ETFs [17][18]. Money ETF - The top - traded money ETFs were Yin Hua Day Profit ETF, Huabao Add - Benefit ETF, and Jianxin Add - Benefit Money ETF. The table presented the top three traded money ETFs [19][21].

Report Summary 1. Market Overview - On December 15, 2025, the Shanghai Composite Index fell 0.55% to 3867.92 points, the Shenzhen Component Index dropped 1.10% to 13112.09 points, and the ChiNext Index declined 1.77% to 3137.80 points. The total trading volume of A - shares in the two markets was 1794.5 billion yuan. The top - rising sectors were non - bank finance (1.59%), commerce and retail (1.49%), and agriculture, forestry, animal husbandry and fishery (1.24%), while the top - falling sectors were electronics (- 2.42%), communication (- 1.89%), and media (- 1.63%) [2][6] 2. Stock ETF - The top - traded stock ETFs on this day were: Huatai - Peregrine CSI A500 ETF, down 0.65% with a discount rate of - 0.73%; Huaxia CSI A500 ETF, down 0.60% with a discount rate of - 0.66%; and Southern CSI A500 ETF, down 0.41% with a discount rate of - 0.49% [3][7] 3. Bond ETF - The top - traded bond ETFs were: Haifutong CSI Short - Term Financing Bond ETF, with a change of 0.00% and a discount rate of - 0.01%; Huaxia Shanghai Stock Exchange Benchmark Market - Making Treasury Bond ETF, down 0.25% with a discount rate of - 0.14%; and Guotai CSI AAA Science and Technology Innovation Corporate Bond ETF, down 0.01% with a discount rate of - 0.03% [4][9] 4. Gold ETF - Gold AU9999 rose 1.30% and Shanghai Gold rose 1.32%. The top - traded gold ETFs were: Huaan Gold ETF, up 1.34% with a premium rate of 1.46%; Boshi Gold ETF, up 1.34% with a premium rate of 1.44%; and E Fund Gold ETF, up 1.38% with a premium rate of 1.47% [12] 5. Commodity Futures ETF - Dacheng Non - ferrous Metals Futures ETF fell 1.35% with a discount rate of - 0.74%; Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.68% with a premium rate of 0.41%; Huaxia Feed Soybean Meal Futures ETF fell 0.20% with a premium rate of 1.95% [13] 6. Cross - border ETF - The previous trading day, the Dow Jones Industrial Average fell 0.51%, the Nasdaq Composite fell 1.69%, the S&P 500 dropped 1.07%, and the German DAX fell 0.45%. On this day, the Hang Seng Index fell 1.34% and the Hang Seng China Enterprises Index fell 1.78%. The top - traded cross - border ETFs were: E Fund CSI Hong Kong Securities Investment Theme ETF, up 0.24% with a discount rate of - 0.80%; Huatai - Peregrine Hang Seng Technology ETF, down 2.16% with a discount rate of - 2.19%; and GF CSI Hong Kong Innovative Drug ETF, down 3.23% with a discount rate of - 3.78% [15] 7. Money ETF - The top - traded money ETFs were: Yin Hua Ri Li ETF, Hua Bao Tian Yi ETF, and Money ETF [17]

Report Summary 1. Market Overview - On December 12, 2025, the Shanghai Composite Index rose 0.41% to 3889.35 points, the Shenzhen Component Index rose 0.84% to 13258.33 points, and the ChiNext Index rose 0.97% to 3194.36 points. The trading volume of A-shares in the two markets was 2119.2 billion yuan. The top-performing sectors were non-ferrous metals (1.50%), electronics (1.46%), and power equipment (1.42%), while the worst-performing sectors were commercial and retail (-1.28%), comprehensive (-1.18%), and building materials (-0.47%) [2][6]. 2. Stock ETFs - The top-trading stock ETFs on this day were Huatai-PineBridge CSI A500 ETF (up 0.65%, discount rate 0.71%), ChinaAMC CSI A500 ETF (up 0.61%, discount rate 0.75%), and Guotai CSI A500 ETF (up 0.78%, discount rate 0.72%). The report also listed the top ten trading stock ETFs, including details such as price, change rate, tracking index, and discount rate [3][7][8]. 3. Bond ETFs - The top-trading bond ETFs were Haifutong CSI Short - Term Financing Bond ETF (change rate 0.00%, discount rate -0.01%), Southern Shanghai Stock Exchange Benchmark Market - Making Corporate Bond ETF (up 0.02%, discount rate -0.14%), and E Fund CSI AAA Science and Technology Innovation Corporate Bond ETF (up 0.01%, discount rate -0.24%). The top five trading bond ETFs were also presented in the report [4][9][10]. 4. Gold ETFs - Gold AU9999 rose 1.25% and Shanghai Gold rose 1.31% on this day. The top - trading gold ETFs were HuaAn Gold ETF (up 1.28%, discount rate 1.35%), Bosera Gold ETF (up 1.29%, discount rate 1.34%), and E Fund Gold ETF (up 1.26%, discount rate 1.33%). The report also showed the top five trading gold ETFs [12][13]. 5. Commodity Futures ETFs - Dacheng Non - Ferrous Metals Futures ETF rose 2.11% with a discount rate of 2.01%, ChinaAMC Feed Soybean Meal Futures ETF rose 0.67% with a discount rate of 2.87%, and Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 1.17% with a discount rate of -1.49%. The report provided an overview of commodity futures ETFs [15][16]. 6. Cross - border ETFs - The previous trading day saw the Dow Jones Industrial Average rise 1.34%, the Nasdaq fall 0.25%, the S&P 500 rise 0.21%, and the German DAX rise 0.68%. On this day, the Hang Seng Index rose 1.75% and the Hang Seng China Enterprises Index rose 1.62%. The top - trading cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF (up 2.28%, discount rate 1.96%), Huatai - PineBridge Hang Seng Technology ETF (up 1.79%, discount rate 1.55%), and GF CSI Hong Kong Innovative Drug ETF (up 0.70%, discount rate 0.77%). The top five trading cross - border ETFs were also included in the report [17][18]. 7. Money Market ETFs - The top - trading money market ETFs on this day were Silver HuaRiLi ETF, Huabao Tianyi ETF, and Money Market ETF Jianxin Tianyi. The report listed the top three trading money market ETFs [19][21]. Industry Investment Rating - There is no information about the industry investment rating in the report. Core View - The report mainly presents the market performance of A - shares on December 12, 2025, including the performance of major indices, sectors, and various types of ETFs, providing data and information for investors to understand the market situation.

Market Overview - On December 11, 2025, the Shanghai Composite Index fell 0.70% to close at 3873.32 points, the Shenzhen Component Index fell 1.27% to close at 13147.39 points, and the ChiNext Index fell 1.41% to close at 3163.67 points. The trading volume of A-shares in the two markets was 1885.4 billion yuan. The top-performing industry was banking with a 0.17% increase, while the bottom-performing industries were comprehensive (-4.31%), communication (-3.14%), and real estate (-3.06%) [2][6]. Stock ETF - The top-traded stock ETFs on this day were Huatai-PineBridge CSI A500 ETF, which fell 0.89% with a discount rate of -0.77%; ChinaAMC CSI A500 ETF, which fell 0.69% with a discount rate of -0.69%; and Southern CSI A500 ETF, which fell 0.66% with a discount rate of -0.66% [3][7]. Bond ETF - The top-traded bond ETFs were Haitong CSI Short-term Financing Bond ETF, which rose 0.00% with a discount rate of -0.01%; E Fund CSI AAA Science and Technology Innovation Corporate Bond ETF, which rose 0.05% with a discount rate of -0.21%; and ChinaAMC Shanghai Stock Exchange Benchmark Market-making Treasury Bond ETF, which rose 0.15% with a discount rate of 0.14% [4][9]. Gold ETF - Gold AU9999 rose 0.16% and Shanghai Gold rose 0.15%. The top-traded gold ETFs were HuaAn Gold ETF, which rose 0.16% with a discount rate of 0.22%; E Fund Gold ETF, which rose 0.20% with a discount rate of 0.22%; and Bosera Gold ETF, which rose 0.19% with a discount rate of 0.21% [12]. Commodity Futures ETF - Dacheng Nonferrous Metals Futures ETF had a 0.00% change with a discount rate of 0.44%; ChinaAMC Feed Soybean Meal Futures ETF fell 0.36% with a discount rate of 2.33%; and CCB YiSheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 0.08% with a discount rate of -0.07% [13]. Cross - border ETF - The previous day, the Dow Jones Industrial Average rose 1.05%, the Nasdaq rose 0.33%, the S&P 500 rose 0.67%, and the German DAX fell 0.13%. On this day, the Hang Seng Index fell 0.04% and the Hang Seng China Enterprises Index fell 0.23%. The top-traded cross - border ETFs were E Fund CSI Hong Kong Securities Investment Theme ETF, which fell 1.18% with a discount rate of -1.51%; GF CSI Hong Kong Innovative Drugs ETF, which fell 0.46% with a discount rate of -0.19%; and Huatai - PineBridge Hang Seng Technology ETF, which fell 0.82% with a discount rate of -0.86% [16]. Money ETF - The top-traded money ETFs were YinHua RiLi ETF, HuaBao TianYi ETF, and Money ETF [18].

Report Summary 1. Market Overview - On December 4, 2025, the Shanghai Composite Index fell 0.06% to 3875.79 points, the Shenzhen Component Index rose 0.40% to 13006.72 points, and the ChiNext Index rose 1.01% to 3067.48 points [2][6]. - The total trading volume of A - shares in the two markets was 1561.8 billion yuan [2][6]. - The top - performing sectors were machinery and equipment (0.90%), electronics (0.78%), and national defense and military industry (0.55%), while the worst - performing sectors were comprehensive (-2.11%), beauty care (-1.89%), and social services (-1.62%) [2][6]. 2. Stock ETF - The stock ETFs with high trading volume today were Huaxia CSI A500 ETF (up 0.35% with a discount rate of 0.49%), Huatai - Berie CSI A500 ETF (up 0.25% with a discount rate of 0.41%), and Guotai CSI A500 ETF (up 0.35% with a discount rate of 0.38%) [3][7]. - The top ten stock ETFs by trading volume are presented in Chart 1, including details such as price, change rate, tracking index change rate, discount rate, trading volume, and latest share reference [8]. 3. Bond ETF - The bond ETFs with high trading volume today were Haifutong CSI Short - Term Financing ETF (down 0.00% with a discount rate of - 0.01%), Pengyang ChinaBond 30 - Year Treasury Bond ETF (down 1.32% with a discount rate of - 1.00%), and Bosera CSI Convertible and Exchangeable Bond ETF (down 0.29% with a discount rate of - 0.43%) [4][9]. - The top five bond ETFs by trading volume are shown in Chart 2, including price, change rate, discount rate, and trading volume [10][11]. 4. Gold ETF - Today, gold AU9999 fell 0.08% and Shanghai Gold fell 0.30%. The gold ETFs with high trading volume were Huaan Gold ETF (down 0.35% with a discount rate of - 0.21%), E Fund Gold ETF (down 0.37% with a discount rate of - 0.20%), and Bosera Gold ETF (down 0.35% with a discount rate of - 0.21%) [12]. - The top five gold ETFs by trading volume are presented in Chart 3, including price, change rate, trading volume, IOPV, and discount rate [13]. 5. Commodity Futures ETF - Today, Dacheng Non - ferrous Metals Futures ETF rose 1.18% with a discount rate of 1.57%, ChinaAMC Feed Soybean Meal Futures ETF fell 0.25% with a discount rate of 0.33%, and Jianxin Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF rose 0.08% with a discount rate of - 0.29% [13]. - Details of commodity futures ETFs are shown in Chart 4, including price, change rate, trading volume, IOPV, discount rate, tracking index, and tracking index change rate [14]. 6. Cross - border ETF - The previous trading day, the Dow Jones Industrial Average rose 0.86%, the Nasdaq Composite rose 0.17%, the S&P 500 rose 0.30%, and the German DAX fell 0.07%. Today, the Hang Seng Index rose 0.68% and the Hang Seng China Enterprises Index rose 0.86% [15]. - The cross - border ETFs with high trading volume today were E Fund CSI Hong Kong Securities Investment Theme ETF (down 0.05% with a discount rate of - 0.01%), GF CSI Hong Kong Innovative Drug ETF (up 1.99% with a discount rate of 2.17%), and Huatai - Berie Hang Seng Technology ETF (up 1.24% with a discount rate of 1.18%) [15]. - The top five cross - border ETFs by trading volume are presented in Chart 5, including trading volume, change rate, and discount rate [16]. 7. Money ETF - The money ETFs with high trading volume today were Silver Hua Day - to - Day Interest ETF, Huabao Tianyi ETF, and Money ETF [17]. - The top three money ETFs by trading volume are shown in Chart 6, including trading volume [18].

1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - On December 3, 2025, the A-share market declined, with the Shanghai Composite Index down 0.51% to 3878.00 points, the Shenzhen Component Index down 0.78% to 12955.25 points, and the ChiNext Index down 1.12% to 3036.79 points. The total trading volume of A-shares in the two markets was 1683.7 billion yuan. Industries with the highest gains were transportation (0.69%), non-ferrous metals (0.63%), and coal (0.57%), while those with the largest losses were media (-2.86%), computer (-2.26%), and real estate (-1.53%) [2][6] 3. Summary by Relevant Catalogs Market Overview - The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index all decreased, with trading volume reaching 1683.7 billion yuan. Transportation, non-ferrous metals, and coal led the gains, while media, computer, and real estate led the losses [2][6] Stock ETF - The top trading volume stock ETFs were mainly those tracking the CSI A500 Index, such as Huaxia CSI A500ETF (down 0.35%, premium rate -0.42%), Huatai-PineBridge CSI A500ETF (down 0.33%, premium rate -0.39%), and Guotai CSI A500ETF (down 0.52%, premium rate -0.53%) [3][7] Bond ETF - The top trading volume bond ETFs included Haifutong CSI Short-term Financing ETF (up 0.01%, premium rate 0.00%), Huaxia Shanghai Stock Exchange Benchmark Market-making Treasury Bond ETF (down 0.05%, premium rate 0.03%), and China Merchants CSI AAA Science and Technology Innovation Corporate Bond ETF (down 0.04%, premium rate -0.29%) [4][9] Gold ETF - Gold AU9999 fell 0.51% and Shanghai Gold fell 0.23%. The top trading volume gold ETFs were Huaan Gold ETF (down 0.18%, premium rate -0.36%), Boshi Gold ETF (down 0.24%, premium rate -0.36%), and E Fund Gold ETF (down 0.20%, premium rate -0.34%) [12] Commodity Futures ETF - Dacheng Non-ferrous Metals Futures ETF rose 0.38% (premium rate 0.51%), Huaxia Feed Soybean Meal Futures ETF had a 0.00% change (premium rate 0.65%), and China Construction Bank Yisheng Zhengzhou Commodity Exchange Energy and Chemical Futures ETF fell 0.73% (premium rate -1.09%) [15] Cross-border ETF - The previous trading day saw increases in the Dow Jones Industrial Average (0.39%), NASDAQ (0.59%), S&P 500 (0.25%), and Germany's DAX (0.51%). On December 3, the Hang Seng Index fell 1.28% and the Hang Seng China Enterprises Index fell 1.68%. The top trading volume cross-border ETFs included E Fund CSI Hong Kong Securities Investment Theme ETF (down 1.23%, premium rate -1.44%), Huatai-PineBridge Hang Seng Technology ETF (down 1.49%, premium rate -1.85%), and GF CSI Hong Kong Innovative Drug ETF (down 1.73%, premium rate -1.70%) [17] Money ETF - The top trading volume money ETFs were Yin Hua Rili ETF, Hua Bao Tian Yi ETF, and Money ETF [19]