港股通央企红利ETF天弘（159281）业绩比较基准为中证港股通央企红利指数收益率(经估值汇率调 整)，管理人为天弘基金管理有限公司，基金经理为贺雨轩，成立（2025-08-20）以来回报为5.99%，近 一个月回报为6.75%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 来源：新浪基金∞工作室 2月24日，港股通央企红利ETF天弘（159281）涨2.85%，成交额1.19亿元。当日份额增加2000.00万份， 最新份额为3.65亿份，近20个交易日份额增加1400.00万份。最新资产净值计算值为3.84亿元。 ...

盘面上，港股市场低开低走，港股红利板块下跌。相关ETF方面，港股通央企红利ETF天弘（159281） 标的指数盘中跌0.33%，净申购达2000万份，为深市同类基金第一；成交额达6789.57万元；换手率达 18.95%，为同类基金第一。 港股通央企红利ETF天弘（159281）最近十个交易日累计获资金净流入998.72万元。截至2026年02月13 日，该基金最新规模为3.52亿元。 兴业证券指出，红利指数创新高反映市场对央企板块信心的增强，未来得益于政策支持和稳健基本面， 港股通央企有望持续吸引长期资金流入。 （文章来源：每日经济新闻） 主打"低估值+高股息"投资逻辑，港股通央企红利ETF天弘（159281）重点覆盖金融、能源、公用事 业、交运等现金流稳健板块，在利率下行周期中配置吸引力突出，具备强防御性特征。该ETF还配备了 2只场外联接基金（A类：024371；C类：024372）。 消息面上，据招商证券及中国证券报消息，国资委近期明确央企高质量发展年度目标，①鼓励央企善用 资本市场并推进市值管理考核。同时，②中国神华千亿级重组项目快速获批，反映央企资本运作效率提 升。此外，据兴业证券统计，恒生港股通 ...

Group 1 - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF Tianhong (159281) experienced a decline of 1.16% on January 30, with a trading volume of 49.5861 million yuan [1] - The fund's shares decreased by 81 million, bringing the total shares to 335 million, with a reduction of 19 million shares over the last 20 trading days [1] - The latest net asset value of the fund is calculated to be 343 million yuan [1] Group 2 - The performance benchmark for the Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF is the China Securities Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index return rate (adjusted for valuation exchange rate) [1] - The fund is managed by Tianhong Fund Management Co., Ltd., with the fund manager being He Yuxuan [1] - Since its establishment on August 20, 2025, the fund has achieved a return of 2.85%, with a one-month return of 3.35% [1]

Core Viewpoint - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF managed by Tianhong experienced a slight increase in value, with a recent trading volume of 26.4692 million yuan and a net asset value of 352 million yuan [1] Group 1: Fund Performance - The Tianhong ETF (159281) saw a 0.30% increase on December 30, with a total share reduction of 1 million, bringing the latest share count to 354 million [1] - Over the past 20 trading days, the fund's shares increased by 56 million [1] - Since its establishment on August 20, 2025, the fund has reported a return of -0.48%, while the return over the past month is -3.02% [1] Group 2: Management and Benchmark - The fund is managed by Tianhong Fund Management Co., Ltd., with He Yuxuan as the fund manager [1] - The performance benchmark for the ETF is the China Securities Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index return rate, adjusted for valuation exchange rates [1]

Group 1 - The Tianhong CSI Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159281) closed down 0.70% on December 29, with a trading volume of 33.25 million yuan [1] - The fund was established on August 20, 2025, with an annual management fee of 0.50% and a custody fee of 0.10% [1] - As of December 26, the fund had a total of 350 million shares and a total size of 349 million yuan [1] Group 2 - The fund's recent trading activity shows a cumulative trading amount of 559 million yuan over the last 20 trading days, with an average daily trading amount of 27.93 million yuan [1] - The current fund manager is He Yuxuan, who has managed the fund since its inception, with a return of -0.04% during the management period [1] - The top holdings of the fund include COSCO Shipping Holdings, Orient Overseas International, China National Freight, PetroChina, CITIC Bank, CNOOC, China Shenhua Energy, China Pacific Insurance, China Unicom, and Agricultural Bank of China, with respective holding percentages [2]

Core Points - The Tianhong CSI Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159281) closed down 0.79% on December 10, with a trading volume of 43.34 million yuan [1] - The fund was established on August 20, 2025, with an annual management fee of 0.50% and a custody fee of 0.10% [1] - As of December 9, the fund had a total of 310 million shares and a total size of 313 million yuan [1] - Over the past 20 trading days, the cumulative trading amount reached 778 million yuan, with an average daily trading amount of 38.91 million yuan [1] - The current fund manager is He Yuxuan, who has managed the fund since its inception, achieving a return of 4.01% during the tenure [1] Holdings Summary - The top holdings of the Tianhong CSI Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF include: - COSCO Shipping Holdings (0.85% holding, 218,000 shares, market value of 2.9175 million yuan) [2] - Orient Overseas International (0.40% holding, 10,500 shares, market value of 1.3717 million yuan) [2] - China Foreign Transport (0.33% holding, 270,000 shares, market value of 1.1396 million yuan) [2] - China Petroleum & Chemical Corporation (0.32% holding, 162,000 shares, market value of 1.0973 million yuan) [2] - CITIC Bank (0.32% holding, 175,000 shares, market value of 1.1136 million yuan) [2] - CNOOC (0.29% holding, 58,000 shares, market value of 1.0041 million yuan) [2] - China Shenhua Energy (0.29% holding, 30,500 shares, market value of 982,600 yuan) [2] - China People's Insurance Group (0.29% holding, 164,000 shares, market value of 1.0107 million yuan) [2] - China Unicom (0.28% holding, 104,000 shares, market value of 952,800 yuan) [2] - Agricultural Bank of China (0.27% holding, 189,000 shares, market value of 933,900 yuan) [2]

Group 1 - The Hong Kong dividend sector experienced fluctuations and a slight decline, with the Hong Kong Central Enterprise Dividend ETF Tianhong (159281) tracking index down by 0.75% as of the report date [1] - The Tianhong ETF will distribute its first dividend for the 2025 fiscal year at a rate of 0.030 yuan per 10 fund shares, and it will suspend trading until 10:30 AM on the report date [1] - After resuming trading, the Tianhong ETF saw a net subscription of 6 million shares and a transaction volume exceeding 16 million yuan, leading among similar products in the Shenzhen market [1] Group 2 - The popularity of dividend-themed funds has surged as the year-end approaches, with a total net subscription of 12.198 billion yuan for dividend-themed ETFs in November [2] - Dividend assets are perceived to have a "quasi-bond" characteristic, making them attractive in the current low-interest-rate environment, leading to significant capital inflow into dividend assets [2] - Current macroeconomic activities and liquidity structures in China are recovering from the bottom, setting a foundation for future profit recovery and a market style shift towards dividends and undervalued assets [2]

Core Viewpoint - Hong Kong stocks experienced a slight decline, with the Hang Seng Index down 0.38% and the Hang Seng Tech Index down 0.69%, while the dividend sector showed resilience with gains in certain central enterprise stocks [1][2] Group 1: Market Performance - The Hang Seng Index fell by 0.38% and the Hang Seng Tech Index decreased by 0.69% on November 19 [1] - The Central Enterprise Dividend Index (931233.CSI) rose by 0.42%, with notable increases in stocks such as China People's Insurance Group (over 3%) and China Petroleum & Chemical Corporation (nearly 3%) [1] - The National Central Enterprise Dividend ETF (159281) recorded a trading volume of 52.05 million yuan with a real-time premium rate of 0.27% [1] Group 2: Fund Flows - As of November 18, the Central Enterprise Dividend ETF has seen net inflows for seven consecutive trading days, with a net inflow rate of 27.80% over the last five trading days, leading among similar products [1][2] - The Southbound funds have recorded net inflows in 19 out of the last 20 trading days, totaling over 120 billion HKD [2] Group 3: ETF Characteristics - The Central Enterprise Dividend ETF closely tracks the Central Enterprise Dividend Index, which selects stable dividend-paying central enterprises with high dividend yields [2] - The Tech ETF (159128) tracks the Tech Index and includes stocks eligible for trading under the Shanghai-Hong Kong Stock Connect, allowing for T+0 trading without QDII quota restrictions [2] Group 4: Analyst Insights - Dongwu Securities indicated that the Hong Kong market is likely to experience short-term fluctuations, but the current position presents long-term investment attractiveness [3]

Group 1 - The Hong Kong stock market indices opened lower, with both technology and dividend sectors declining [1] - The Hong Kong Stock Connect Technology Index fell over 1%, while stocks like Kingsoft Cloud rose over 6% [1] - The Tianhong Hong Kong Stock Connect Technology ETF (159128) saw a net inflow of 39.8 million yuan over two days, reaching historical highs in both shares and scale [1] Group 2 - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index dropped over 0.7%, with companies like Sinopec and China National Offshore Oil Corporation showing gains [1] - The Tianhong Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159281) recorded a net inflow of 40.5 million yuan over five days, also achieving historical highs in net inflow days [1] - Tianhong Fund highlighted that the Central State-Owned Enterprises Dividend Index includes high dividend yield companies, benefiting from policy advantages and market characteristics [2] Group 3 - Recent fluctuations in the Hong Kong stock market are attributed to external volatility and investor profit-taking behavior [2] - Despite the market's current state, there are expectations for upward adjustments in external liquidity, suggesting potential investment opportunities [2] - A "barbell strategy" is recommended for asset allocation, focusing on technology and non-ferrous metals for growth, while emphasizing dividends and turnaround stocks for defense [2]

Market Overview - The market experienced fluctuations on November 14, with the Shanghai Composite Index briefly turning positive, while the ChiNext Index fell over 2% during the session [1] - By the midday close, the Shanghai Composite Index decreased by 0.16%, the Shenzhen Component Index fell by 1.1%, and the ChiNext Index dropped by 1.74% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.23 trillion yuan, a decrease of 25.7 billion yuan compared to the previous trading day [1] ETF Performance - The Hong Kong Stock Connect Central Enterprise Dividend ETF Tianhong (159281) recorded a trading volume exceeding 16 million yuan, with a turnover rate of 7.12%, indicating active trading [1] - This ETF attracted over 16 million yuan in net inflows over three consecutive trading days from November 11 to 13 [1] - The Dividend Low Volatility ETF Tianhong (159549) saw a real-time net subscription of 30 million units, with 17 out of the last 20 days experiencing net inflows, totaling over 400 million yuan [1] Investment Trends - The Hong Kong Stock Connect Central Enterprise Dividend ETF closely tracks the Central Enterprise Dividend Index, focusing on sectors with stable cash flows such as finance, energy, public utilities, and transportation [1] - The Dividend Low Volatility ETF tracks the CSI Low Volatility 100 Index, which selects 100 stocks from the A-share market based on liquidity, continuous dividends, high dividend yields, and low volatility [1] Southbound Capital Flow - As of November 12, southbound capital's cumulative net purchases of Hong Kong stocks surpassed 50 billion Hong Kong dollars, marking a historic milestone [2] - On November 12, southbound capital net inflow into Hong Kong stocks was 4.286 billion Hong Kong dollars, marking the 16th consecutive trading day of net buying [2] - The total net inflow of southbound capital into Hong Kong stocks for the year reached 1.31 trillion Hong Kong dollars, reflecting a significant increase in mainland investors' enthusiasm for the Hong Kong market [2] Banking Sector Insights - According to Galaxy Securities, while the banking sector's performance in Q3 was temporarily affected by non-interest income, the overall scale remains stable, supporting earnings [2] - The net interest income is expected to improve further, with a stable trend in interest margins and a recovery in middle-income [2] - Long-term perspectives indicate that dividend stocks hold greater allocation value in low-interest-rate environments, with excess returns from dividend stocks negatively correlated with government bond yields [2]