Core Viewpoint - The "14th Five-Year Plan" emphasizes boosting consumption as a core element in expanding domestic demand and constructing a new development pattern, making consumption a primary focus for long-term value investment in the equity market [1] Group 1: Market Performance - The Hong Kong stock market has shown remarkable performance this year, with the Hang Seng Index increasing by 35.41% year-to-date as of November 14 [2] - The market has attracted a number of quality listed companies in sectors such as technology, consumption, pharmaceuticals, and high dividends, with emerging consumer enterprises closely aligned with young consumer trends [2] Group 2: Investment Opportunities - A new theme fund focusing on quality companies in the Hong Kong stock market, particularly in the consumer sector, has been launched, prioritizing company growth and industry competition [1] - The fund aims to identify companies with solid fundamentals and matching valuations, leveraging the team's long-term investment experience in Hong Kong stocks [1] Group 3: Consumer Market Trends - The current consumer market is characterized by resilience in essential consumption and recovery in discretionary spending, with strong performance in service consumption sectors like tourism and dining [2] - The rise of domestic brands and new consumption trends, such as value-for-money products and emotional consumption, are becoming new growth drivers [2] - The Hang Seng Consumer Index aligns well with industry trends, covering sectors like food and beverages, textiles, and leisure tourism [2] Group 4: Future Outlook - As profitability in the consumer sector continues to improve, valuations are expected to rise again, supporting future economic growth and company valuations [2] - The overall outlook for the Hong Kong stock market remains optimistic in the medium to long term, driven by both sentiment and corporate factors [2]

Fund Overview - The fund is named "浦银安盛港股通消费混合型发起式证券投资基金" and is a mixed-type open-ended fund [9] - The fund will be publicly offered from November 17, 2025, to November 21, 2025 [5][17] - The fund's initial share value is set at 1.00 RMB [9] Fund Management and Custody - The fund is managed by浦银安盛基金管理有限公司 and the custodian is 招商银行股份有限公司 [1][65] Target Investors - The fund is available to individual investors, institutional investors, qualified foreign investors, and other investors permitted by laws and regulations [10][17] Subscription Details - The minimum subscription amount for the electronic direct sales channel is 0.1 RMB, while for direct sales institutions, it is 10,000 RMB [25][4] - Investors can subscribe multiple times during the fundraising period, but once accepted, subscription applications cannot be revoked [26][25] Fund Investment Strategy - The fund primarily invests in stocks eligible for the Hong Kong Stock Connect, focusing on consumer-related stocks while aiming for returns that exceed the performance benchmark [11] Sales Channels - The fund will be sold through direct sales centers, electronic direct sales, and other sales institutions [12][13] - The sales period may be adjusted based on subscription conditions, but cannot exceed the legal fundraising period [17] Fund Contract and Effectiveness - The fund contract will become effective after meeting the necessary conditions, including a minimum subscription amount of 10 million RMB from the initiators [17][60] - If the fundraising conditions are not met by the end of the period, the fund contract will not take effect, and the raised funds will be returned to investors [18][60]