来源：新浪基金∞工作室 12月30日，港股通央企红利ETF（159266）涨0.51%，成交额1214.17万元。当日份额减少4600.00万份， 最新份额为6.16亿份，近20个交易日份额减少6400.00万份。最新资产净值计算值为6.13亿元。 港股通央企红利ETF（159266）业绩比较基准为中证港股通央企红利指数收益率(按照估值汇率折算)， 管理人为永赢基金管理有限公司，基金经理为刘庭宇、蔡路平，成立（2025-07-23）以来回报 为-0.40%，近一个月回报为-3.02%。 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。 ...

港股通央企红利ETF（159266）现任基金经理为刘庭宇、蔡路平。刘庭宇自2025年7月23日管理（或拟 管理）该基金，任职期内收益0.51%；蔡路平自2025年11月5日管理（或拟管理）该基金，任职期内收 益-2.26%。 最新定期报告显示，永赢基金（159266）重仓股包括中远海控、中国有色矿业、中国外运、东方海外国 际、中信银行、中国石油股份、中国神华、中国人民保险集团、中国海洋石油、农业银行，持仓占比如 下： 来源：新浪基金∞工作室 数据显示，12月23日，港股通央企红利ETF(159266)遭净赎回99.97万元，位居当日跨境ETF净流出排名 33/202。最新规模6.65亿元，前一日规模6.64亿元，当日资金净流出额占前一日规模的比例为0.15%。 近5日，港股通央企红利ETF(159266)遭净赎回790.46万元，位居跨境ETF净流出排名第26/202。近10 日，港股通央企红利ETF(159266)遭净赎回1788.18万元，位居跨境ETF净流出排名第23/202。近20日， 港股通央企红利ETF(159266)遭净赎回4255.48万元，位居跨境ETF净流出排名第18/202。 港股通央企 ...

Core Viewpoint - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) experienced net redemptions of 1.0028 million yuan on December 10, ranking 26th out of 200 in cross-border ETF net outflows [1] Group 1: Fund Performance - As of December 10, the latest scale of the Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) is 685 million yuan, down from 689 million yuan the previous day, indicating a net outflow of 0.15% of the previous day's scale [1] - Over the past 5 days, the fund faced net redemptions of 1.004 million yuan, ranking 35th out of 200 in cross-border ETF net outflows [1] - In the last 10 days, the total net redemptions reached 24.6445 million yuan, ranking 17th out of 200 [1] - Over the past 20 days, net redemptions amounted to 30.8908 million yuan, ranking 26th out of 200 [1] Group 2: Fund Management and Holdings - The fund is managed by Liu Tingyu and Cai Leping, with Liu managing since July 23, 2025, achieving a return of 0.97%, while Cai has managed since November 5, 2025, with a return of -1.81% [2] - The latest report indicates that the top holdings of the fund include China COSCO Shipping, China Nonferrous Mining, China National Offshore Oil, and others, with respective holding percentages and market values detailed [2] Group 3: Comparative Analysis - The fund's scale and liquidity are compared with other ETFs tracking the same index, showing that the Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) has a scale of 6.85 billion yuan and a recent average daily trading volume of 0.20 million yuan [2] - Other ETFs in the same category include Huaxia, Wanji, and Tianhong, with varying scales and recent net subscription figures [2]

Core Viewpoint - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) experienced significant net redemptions, indicating a trend of outflows from this fund in recent trading periods [1][2] Fund Performance - As of November 28, the latest scale of the Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) is 719 million yuan, down from 726 million yuan the previous day, reflecting a net outflow of 3.073 million yuan, which is 0.42% of the previous day's scale [1][2] - Over the past five days, the fund faced net redemptions totaling 5.1349 million yuan, ranking 40th out of 198 in the cross-border ETF net outflow list [1] - In the last ten days, net redemptions reached 8.2532 million yuan, ranking 34th out of 198 [1] - Over the past twenty days, the total net redemptions amounted to 34.5768 million yuan, ranking 22nd out of 198 [1] Fund Management and Holdings - The fund is managed by Liu Tingyu and Cai Leping, with Liu managing since July 23, 2025, achieving a return of 2.70%, while Cai has managed since November 5, 2025, with a return of -0.13% [2] - The fund's top holdings include China COSCO Shipping, China Nonferrous Metal Mining, China National Offshore Oil, and others, with the largest holding being China COSCO Shipping at 6.08% of the portfolio [2] Liquidity and Trading Activity - The cumulative trading amount over the last 20 trading days is 506 million yuan, with an average daily trading amount of 25.2772 million yuan [2] - The fund's current share count is 700 million [2] Comparison with Other ETFs - Other ETFs tracking the same index include Huaxia Central State-Owned Enterprises Dividend ETF (513910), Wanji Central State-Owned Enterprises Dividend ETF (159333), and Tianhong Central State-Owned Enterprises Dividend ETF (159281), with varying scales and recent net subscription figures [2]

Core Viewpoint - The fourth quarter often sees increased market volatility and style shifts, prompting investors to consider defensive strategies to protect profits as the year ends [1][3]. Market Dynamics - The fourth quarter is a critical assessment period for institutional investors, leading to profit-taking and asset reallocation, which can cause significant market fluctuations [1][3]. - Policy meetings and international economic conditions also contribute to market sensitivity and potential overreactions [1][3]. Dividend Strategy Viability - Dividend strategies focus on companies with stable dividend payouts, which are less affected by market volatility and external shocks, making them suitable for the current uncertain environment [3][4]. - The low interest rate environment and ongoing asset scarcity support the attractiveness of dividend-paying stocks [3][4]. Performance of Dividend Assets - Historical data shows that the total return of the CSI Dividend Index significantly outperformed the CSI 300 Index, indicating the potential for stable long-term returns through dividend investments [4]. Types of Dividend Strategies - **Hong Kong Dividend Strategy**: Focuses on high dividend yields from state-owned enterprises, with a recent 12-month dividend yield of 5.72%, outperforming the CSI Dividend Index [6][7]. - **Low Volatility Dividend Strategy**: Combines dividend yield with low volatility, offering a 12-month yield of 4.23% and lower maximum drawdown compared to other dividend strategies, making it suitable for risk-sensitive investors [9]. - **Cash Flow Strategy**: Targets companies with positive free cash flow, emphasizing financial stability and the ability to pay dividends, with historical performance showing strong returns [10][14]. Market Outlook - The current low valuation and high dividend yield of dividend stocks present a favorable investment opportunity, especially as liquidity is expected to remain loose in the long term [14].

Core Viewpoint - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) has shown a positive performance with a 0.69% increase in value on October 23, 2023, and a recent net asset value of 791 million yuan [1] Group 1: Fund Performance - The ETF's trading volume on October 23 was 13.1586 million yuan, with a reduction of 2 million shares, bringing the total shares to 775 million [1] - Over the past 20 trading days, the ETF's shares have increased by 5 million [1] - Since its establishment on July 23, 2025, the fund has achieved a return of 2.13%, while the return over the past month is 4.97% [1] Group 2: Management and Benchmark - The fund is managed by Yongying Fund Management Co., Ltd., with Liu Tingyu 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]

Core Viewpoint - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) experienced a slight decline of 0.39% on October 22, with a trading volume of 26.62 million yuan [1] Group 1: Fund Performance - The ETF's latest net asset value is calculated at 788 million yuan [1] - Since its establishment on July 23, 2025, the fund has achieved a return of 1.46% [1] - Over the past month, the fund has recorded a return of 3.66% [1] Group 2: Fund Management - The fund is managed by Yongying Fund Management Co., Ltd. [1] - The fund manager is Liu Tingyu [1] Group 3: Fund Size and Trading Activity - The ETF's shares decreased by 4 million, bringing the total shares to 777 million [1] - In the last 20 trading days, the fund's shares increased by 7 million [1]

Core Viewpoint - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) experienced a decline of 0.51% on September 3, with a trading volume of 15.58 million yuan, indicating a decrease in investor interest and potential challenges in the market [1] Group 1: Fund Performance - The ETF's latest net asset value is calculated at 277 million yuan [1] - Since its inception on July 23, 2025, the fund has returned -2.19%, while the return over the past month is 1.10% [1] Group 2: Fund Management - The fund is managed by Yongying Fund Management Co., Ltd., with Liu Tingyu as the fund manager [1] - The performance benchmark for the ETF is the CSI Hong Kong Stock Connect Central State-Owned Enterprises Dividend Index return rate, adjusted for valuation exchange rates [1] Group 3: Share Dynamics - On the reporting day, the ETF's shares decreased by 1 million, bringing the total shares to 283 million [1] - Over the last 20 trading days, the total shares have decreased by 7.8 million [1]