Group 1 - Morgan Fund Management (China) Co., Ltd. has signed a fund sales agency agreement with HSBC Insurance Brokerage Co., Ltd. to add HSBC as a distribution agency for certain funds [1][2] - Investors can conduct subscription, redemption, and regular investment operations through HSBC Insurance Brokerage according to its regulations [1][2] Group 2 - Morgan Fund Management (China) Co., Ltd. has also signed a fund sales agency agreement with Financial Street Securities Co., Ltd. to add Financial Street Securities as a distribution agency for the Morgan S&P Hong Kong Stock Connect Low Volatility Dividend Index Fund [3][4] - Investors can perform subscription, redemption, and regular investment operations through Financial Street Securities as per its guidelines [3][4] Group 3 - The Morgan CSI 300 Index Enhanced Initiated Securities Investment Fund has triggered the termination of its fund contract due to its net asset value falling below 200 million RMB as of December 28, 2025 [6][7] - The fund contract will automatically terminate without the need for a meeting of fund shareholders, and the fund will enter liquidation procedures starting December 29, 2025 [6][8] Group 4 - The liquidation process will involve the establishment of a liquidation team within 30 working days after the contract termination, which will manage the fund's assets and liabilities [9] - The liquidation team will be responsible for asset management, valuation, and distribution, and the liquidation process is expected to take up to 6 months [9][11] Group 5 - Certain funds managed by Morgan Fund Management (China) Co., Ltd. will suspend subscription, redemption, and other investment operations on December 31, 2025, due to holidays in major overseas markets [17][18] - These operations are set to resume on January 5, 2026, unless otherwise stated in related announcements [18][19]

Core Viewpoint - The Morgan S&P Hong Kong Stock Connect Low Volatility Dividend Index Fund aims to achieve passive index investment through a strict investment discipline and quantitative risk management, targeting a net asset value that closely tracks the S&P Hong Kong Stock Connect Low Volatility Dividend Index [1][2][3] Fund Overview - The fund's main code is 005051, and it operates as a contractual open-end fund, effective since December 4, 2017. As of the end of the reporting period, the total fund shares amounted to approximately 2.92 billion [1][2]. - The fund employs a full replication strategy to construct its stock portfolio based on the benchmark weights of the index constituents, ensuring that at least 90% of its non-cash assets are invested in the index constituents and their substitutes [2][3]. Investment Strategy - The fund aims to minimize tracking error by dynamically adjusting its portfolio according to changes in the index composition and weights, with a focus on maintaining a high proportion of stock investments [2][3][4]. - In cases where index constituents are restricted due to regulations or liquidity issues, the fund will select alternative stocks with similar expected returns [2][3]. Performance Metrics - For the reporting period from April 1 to June 30, 2025, the fund's net asset value growth rate for Class A shares was 9.71%, while the benchmark return was 6.80%. Class C shares recorded a growth rate of 9.58% [12][13]. - The fund's performance over the past three months, six months, one year, three years, and five years shows consistent positive returns, with the one-year return at 24.88% and the three-year return at 34.78% [5][12]. Asset Allocation - As of the end of the reporting period, the fund's total assets were approximately 3.02 billion RMB, with 85.54% allocated to stocks. The fund did not hold any bonds or other securities [15][18]. - The fund's investments are diversified across various sectors, with significant allocations to financials (29.03%), real estate (14.17%), and energy (9.25%) [16][18]. Management and Compliance - The fund management team adheres to strict compliance with relevant laws and regulations, ensuring fair trading practices and risk management [9][11]. - The fund manager has a history of experience in asset management, contributing to the fund's strategic direction and operational efficiency [8].