来源：新浪基金∞工作室 8月4日，港股通央企红利ETF南方（520660）跌0.30%，成交额7023.98万元。当日份额减少600.00万 份，最新份额为11.47亿份，近20个交易日份额增加2800.00万份。最新资产净值计算值为11.46亿元。 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2.67%，近一个月回报为4.02%。 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。 ...

8月1日，港股通央企红利ETF南方（520660）跌1.18%，成交额4753.12万元。当日份额增加1600.00万 份，最新份额为11.53亿份，近20个交易日份额增加3500.00万份。最新资产净值计算值为11.52亿元。 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。 来源：新浪基金∞工作室 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2.60%，近一个月回报为5.18%。 ...

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].