Group 1 - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (520660) increased by 0.96% on September 11, with a trading volume of 55.1564 million yuan [1] - The fund's shares increased by 6 million, bringing the total shares to 1.927 billion, with an increase of 488 million shares over the past 20 trading days [1] - The latest net asset value of the fund is calculated to be 1.998 billion yuan [1] Group 2 - The performance benchmark for the ETF is the CSI National New Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index (RMB middle price) [1] - The fund is managed by Southern Fund Management Co., Ltd., with fund managers Luo Wenjie and Pan Shuiyang [1] - Since its establishment on June 26, 2024, the fund has returned 6.51%, with a one-month return of 1.17% [1]

港股通央企红利ETF南方（520660）业绩比较基准为中证国新港股通央企红利指数(人民币中间价)收益 率，管理人为南方基金管理股份有限公司，基金经理为罗文杰、潘水洋，成立（2024-06-26）以来回报 为3.89%，近一个月回报为1.25%。 来源：新浪基金∞工作室 9月3日，港股通央企红利ETF南方（520660）跌0.29%，成交额1652.05万元。当日份额增加200.00万 份，最新份额为17.88亿份，近20个交易日份额增加6.41亿份。最新资产净值计算值为18.08亿元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 ...

Group 1 - The core point of the article highlights the performance and recent activity of the Hong Kong Stock Connect Central Enterprise Dividend ETF managed by Southern Fund Management, which experienced a slight decline of 0.95% on August 26, with a trading volume of 36.1862 million yuan [1] - The ETF's total shares increased by 11 million to reach 1.745 billion shares, with a notable increase of 630 million shares over the past 20 trading days [1] - The latest net asset value of the ETF is calculated to be 1.799 billion yuan, and its performance benchmark is the CSI National New Hong Kong Stock Connect Central Enterprise Dividend Index [1] Group 2 - Since its establishment on June 26, 2024, the ETF has achieved a return of 5.88%, while its return over the past month is 0.19% [1] - The fund is managed by fund managers Luo Wenjie and Pan Shuiyang from Southern Fund Management Co., Ltd [1]

Core Insights - The ETF market showed mixed performance on the 22nd, with the Sci-Tech Chip ETFs leading gains while the Medical Device ETF experienced the largest decline [2] Group 1: ETF Performance - The Sci-Tech Chip ETF Index (588920) led the gains with an increase of 6.55% [2] - The Bosera Sci-Tech Chip ETF (588990) rose by 6.54% [2] - The Guotai Sci-Tech Chip ETF (589100) increased by 6.48% [2] - The Medical Device ETF (159797) was the worst performer, declining by 1.16% [2] - The Hong Kong Stock Connect Central Enterprise Dividend ETF (520660) fell by 1.15% [2] - The Energy ETF from GF (159945) decreased by 1.07% [2]

Group 1 - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (520660) experienced a decline of 0.48% on August 19, with a trading volume of 143 million yuan [1] - The fund's shares increased by 64 million to a total of 1.61 billion shares, with a total increase of 508 million shares over the past 20 trading days [1] - The latest net asset value of the ETF is calculated to be 1.657 billion yuan [1] Group 2 - The performance benchmark for the ETF is the CSI National New Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index (RMB middle price) [1] - The fund is managed by Southern Fund Management Co., Ltd., with fund managers Luo Wenjie and Pan Shuiyang [1] - Since its establishment on June 26, 2024, the fund has achieved a return of 5.71%, with a one-month return of 4.34% [1]

Group 1 - The core point of the article highlights the performance and recent trading activity of the Hong Kong Stock Connect Central Enterprise Dividend ETF managed by Southern Fund Management Co., Ltd. [1] - On August 4, the ETF (520660) experienced a decline of 0.30% with a trading volume of 70.2398 million yuan [1] - The ETF's total shares decreased by 6 million, bringing the latest total to 1.147 billion shares, while over the past 20 trading days, shares increased by 28 million [1] Group 2 - The latest net asset value of the ETF is calculated to be 1.146 billion yuan [1] - The ETF's performance benchmark is the CSI National New Hong Kong Stock Connect Central Enterprise Dividend Index (RMB middle price) [1] - Since its establishment on June 26, 2024, the ETF has returned 2.67%, with a one-month return of 4.02% [1]

Group 1 - The core point of the article highlights the performance of the Hong Kong Stock Connect Central Enterprise Dividend ETF managed by Southern Fund Management, which experienced a decline of 1.18% on August 1, with a trading volume of 47.53 million yuan [1] - The fund's total shares increased by 16 million, bringing the latest total to 1.153 billion shares, with a notable increase of 35 million shares over the past 20 trading days [1] - The latest net asset value of the fund is calculated to be 1.152 billion yuan, and its performance benchmark is the CSI National New Hong Kong Stock Connect Central Enterprise Dividend Index [1] Group 2 - Since its establishment on June 26, 2024, the fund has achieved a return of 2.60%, while its return over the past month stands at 5.18% [1] - The fund is managed by fund managers Luo Wenjie and Pan Shuiyang from Southern Fund Management Co., Ltd [1]

Market Performance - As of July 30, 2025, the three major A-share indices showed mixed results, with the Shanghai Composite Index rising by 0.17% to 3615.72 points, while the Shenzhen Component Index and the ChiNext Index fell by 0.77% to 11203.03 points and 1.62% to 2367.68 points respectively [1] - The total trading volume of the two markets reached 1.84 trillion yuan [1] Industry Highlights - The fishery sector performed notably well, surging by 4.06%, followed by the steel and film industries, which rose by 3.30% and 2.76% respectively [1] - A total of 356 non-currency ETFs increased in value, representing 29% of the market [1] - The China Steel Index rose by 1.58%, and the Steel ETF increased by 1.53% [1] - The China Petrochemical Industry Index saw a rise of 1.57%, with the Petrochemical ETF and Chemical Industry ETF increasing by 2.07% and 1.66% respectively [1] - The China Film Theme Index rose by 1.26%, with the Film ETF increasing by 1.64% and another Film ETF by 1.40% [1] ETF Performance - The top-performing ETFs included the Oil and Gas Resources ETF, which rose by 3.25%, and the Petrochemical ETF, which increased by 2.07% [3] - The Steel ETF had a total share size of 23.50 billion units, closely tracking the China Steel Index [5] - The Oil and Gas ETF had a share size of 1.13 billion units, tracking the National Oil and Gas Index [4] Valuation Metrics - The latest price-to-earnings ratio (PE-TTM) for the China National New Hong Kong Stock Connect Central State-Owned Enterprise Dividend Index is 8.74, which is below 99.80% of the time over the past three years [4] - The National Oil and Gas Index has a PE-TTM of 11.34, below 66.36% of the time over the past three years [5] Declining Sectors - A total of 809 non-currency ETFs declined, accounting for 67% of the market [5] - The China Hong Kong Stock Connect Automotive Industry Theme Index and the China Financial Technology Theme Index experienced the largest declines, falling by 4.50% and 2.94% respectively [5]

Core Viewpoint - The A-share market experienced a slight rise, while the Hong Kong stock market opened higher, with the steel and oil sectors leading the gains. The Pacific Securities highlighted the increasing value of the Hong Kong Central State-Owned Enterprises (SOE) Dividend ETF, indicating a growing preference for high-dividend stocks in the Hong Kong market [1]. Group 1: Market Performance - As of 11:30 AM, the Hong Kong Central State-Owned Enterprises Dividend ETF (520660.SH) rose by 1.75%, and China Petroleum & Chemical Corporation increased by 2.39% [1]. - The overall performance of the Hong Kong stock market showed a positive trend, particularly in sectors such as steel and oil [1]. Group 2: Investment Insights - The cross-border ETF capital flow indicates that Hong Kong dividend ETFs are receiving significant attention, with net inflows ranking high, reflecting a market preference for high-dividend sectors [1]. - Current Hong Kong SOEs exhibit high dividend advantages and significant undervaluation, coupled with deepening SOE reforms and improved profit stability, suggesting that dividend rates are likely to remain high [1]. - The low-interest-rate environment enhances the attractiveness of dividend assets, further supported by the convenience of the Hong Kong Stock Connect mechanism and the ongoing trend of southbound capital inflows [1]. Group 3: Sector Analysis - Hong Kong SOEs are primarily concentrated in the financial, energy, and public utility sectors, benefiting from policy expectations and a declining interest rate environment, which provides high certainty in profits and dividends [1]. - The cost-effectiveness of sector allocation in Hong Kong SOEs is highlighted, making them an appealing investment choice [1].

Market Overview - The three major indices in the A-share market collectively rose, with the Shanghai Composite Index increasing by 0.62%, the Shenzhen Component Index by 0.84%, and the ChiNext Index by 0.61% [1][4] - Several infrastructure ETFs saw significant gains, including the Infrastructure ETF (516950.SH) which rose by 6.99%, and the Infrastructure ETF (159619.SZ) which increased by 6.44% [1][11] ETF Performance - The A500 ETF market experienced a significant shift, with the net asset scale of the top 10 A500 ETFs decreasing from 10 to 9, and the China A500 ETF (560610.SH) shrinking from 12.45 billion to 8.734 billion [2] - Central Huijin Investment increased its holdings in major broad-based ETFs by over 200 billion in Q2, indicating a strong commitment to stabilizing the capital market [3] Sector Performance - In the sector performance, coal, building materials, and construction decoration sectors ranked highest, with daily increases of 6.18%, 4.49%, and 3.38% respectively [6] - Over the past five trading days, the building materials, coal, and steel sectors also showed strong performance, with increases of 11.46%, 9.15%, and 7.68% respectively [6] ETF Categories - Among different ETF categories, strategy ETFs performed the best with an average increase of 1.56%, while bond ETFs had the worst performance with an average decrease of 0.04% [9] - The top-performing ETFs included the Coal ETF (515220.SH) with an increase of 8.25%, the Building Materials ETF (159787.SZ) with 7.91%, and the Infrastructure ETF (516950.SH) with 6.99% [12][11] Trading Volume - The top three ETFs by trading volume were the CSI 300 ETF (510300.SH) with a trading volume of 4.517 billion, the STAR 50 ETF (588000.SH) with 4.086 billion, and the A500 ETF (512050.SH) with 4.057 billion [14][15]