来源：新浪基金∞工作室 9月29日，港股通红利ETF富国（159277）涨0.32%，成交额2070.39万元。当日份额减少1900.00万份， 最新份额为1.92亿份，近20个交易日份额减少2100.00万份。最新资产净值计算值为1.82亿元。 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。 港股通红利ETF富国（159277）业绩比较基准为中证港股通高股息投资指数收益率(使用估值汇率折 算)，管理人为富国基金管理有限公司，基金经理为田希蒙，成立（2025-08-05）以来回报为-5.10%，近 一个月回报为-1.30%。 ...

Group 1 - The core viewpoint of the article highlights the performance and recent activity of the Hong Kong Stock Connect Dividend ETF managed by Fuguo Fund Management Co., Ltd. [1] - On August 15, the ETF (159277) experienced a 0.00% change in price with a trading volume of 36.68 million yuan [1] - The fund's shares decreased by 3 million, bringing the total shares to 210 million [1] Group 2 - The latest net asset value of the ETF is calculated to be 207 million yuan [1] - The performance benchmark for the ETF is the CSI Hong Kong Stock Connect High Dividend Investment Index return rate, adjusted using valuation exchange rates [1] - Since its establishment on August 5, 2025, the fund has recorded a return of -1.06% [1]

Market Performance - A-shares' three major indices collectively rose, with the Shanghai Composite Index achieving an eight-day winning streak, reaching its highest level since December 2021, closing up 0.48% [1] - The Shenzhen Component Index increased by 1.76%, while the ChiNext Index rose by 3.62% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 21,509 billion [1] ETF Performance - The top-performing ETF was the ChiNext 50 ETF (159367), which surged by 6.89% [2] - Other notable ETFs included the Communication ETF (215880) and Communication Equipment ETF (159583), both rising by 6.45% [2][3] - Several AI-related ETFs also saw significant gains, with the ChiNext AI ETF (Dacheng) increasing by 6.25% [3] AI Industry Developments - Kimi K2's new model ranked first in daily downloads on Hugging Face, while Baidu AI Search led in monthly active users domestically [4] - OpenAI launched its new flagship AI model, GPT-5, which integrates capabilities from various models to enhance performance [5] Banking Sector Insights - Bank-related ETFs experienced collective declines, but there is potential for growth driven by increased insurance capital allocation to bank stocks [6] Trading Activity - The Hong Kong Securities ETF (513090) had the highest trading volume, reaching 24.636 billion [8] - The turnover rate for the Shenzhen 100 ETF (Rongtong) was the highest at 392% [9] Upcoming ETF Launch - A new product, the Hong Kong Stock Connect Dividend ETF (159277), is set to launch, tracking the CSI Hong Kong Stock Connect High Dividend Investment Index [10]

Group 1 - The Hong Kong stock market has become a focal point for capital this year, driven by multiple favorable factors, including the shift of international capital from dollar assets to emerging markets as the Federal Reserve enters a rate-cutting cycle [1] - Southbound capital from mainland China has significantly increased, with net purchases exceeding 820 billion HKD as of July 25, 2025, surpassing the total for the entire year of 2024, indicating a historical high for the same period [1] - The launch of the Hong Kong Dividend ETF (Fund Code: 159277) provides investors with an important opportunity to invest in high-quality dividend assets in the Hong Kong market [1] Group 2 - The Hong Kong Dividend ETF (159277) targets high dividend assets in the current market environment, which is characterized by a low interest rate era, making these assets attractive to investors [2] - The Hong Kong Dividend Index has a dividend yield of 5.69% and a price-to-earnings ratio of 7.47, which is more favorable compared to the China Securities Dividend Index's 4.46% yield and 8.13 P/E ratio, highlighting the investment appeal of Hong Kong dividend assets [2] Group 3 - The components of the Hong Kong Dividend Index are characterized by a high proportion of state-owned enterprises, stable dividends, and large market capitalization, with state-owned enterprises accounting for 87% of the index [3] - Nearly 70% of the stocks in the index have maintained dividends for 10 consecutive years, ensuring the sustainability and stability of dividends [3] - The average market capitalization of the top five and top ten weighted stocks is 189.9 billion and 392.2 billion HKD, respectively, indicating a strong investment value and potential [3] Group 4 - The fund manager of the Hong Kong Dividend ETF, Tian Ximeng, has extensive experience in Hong Kong stock research and management, overseeing multiple successful funds [4] - The ETF has a competitive fee structure, with a management and custody fee of only 0.40%, which is 33% lower than other similar ETFs, reducing investment costs for investors [4] - The combination of high dividends, low valuations, and low fees positions the Hong Kong Dividend ETF as an efficient tool for capturing revaluation opportunities in the Hong Kong market [4]

Core Viewpoint - The Hong Kong stock market has become a focal point for capital this year, driven by multiple favorable factors, including the transition to a rate-cutting cycle by the Federal Reserve, which has accelerated the shift of international capital from dollar assets to emerging markets [1] Group 1: Market Dynamics - The Hong Kong stock market has seen a surge in interest across various sectors, including technology, consumption, pharmaceuticals, and dividends, reflecting a high enthusiasm for capital allocation [1] - As of July 25, 2025, net purchases from mainland southbound funds exceeded 820 billion HKD, surpassing the total for the entire year of 2024, marking a historical high for the same period [1] - The combination of returning overseas capital and increased southbound fund investments is driving a revaluation of Hong Kong stocks [1] Group 2: Investment Opportunities - The newly launched Hong Kong Dividend ETF (Fund Code: 159277) aims to provide investors with an opportunity to invest in high-dividend assets in the Hong Kong market [1][2] - The Hong Kong Dividend ETF targets high-dividend assets, which have become increasingly attractive in the current low-interest-rate environment, offering a high dividend yield of 5.69% and a price-to-earnings ratio of 7.47 times as of July 28, 2025 [2] - Compared to the China Securities Dividend Index, which has a dividend yield of 4.46% and a P/E ratio of 8.13 times, the Hong Kong Dividend ETF presents a more favorable risk-reward profile [2] Group 3: Fund Characteristics - The underlying index of the Hong Kong Dividend ETF consists of 50 stocks, with 87% being state-owned enterprises, providing strong market competitiveness and stability [3] - Nearly 70% of the stocks in the index have maintained dividends for over 10 years, ensuring consistent and stable dividend payouts [3] - The average market capitalization of the top five and top ten weighted stocks is 189.9 billion HKD and 392.2 billion HKD, respectively, indicating a significant market value characteristic [3] Group 4: Management and Cost Efficiency - The fund manager, Tian Ximeng, has extensive experience in Hong Kong stock research and has successfully managed multiple funds, including the Hong Kong Internet ETF, which has over 60 billion HKD in assets as of July 25, 2025 [4] - The fund's management and custody fees are competitively low at 0.40%, which is 33% lower than similar ETFs tracking the Hong Kong Dividend Index [4] - The Hong Kong Dividend ETF is positioned as an efficient tool for capturing revaluation opportunities in the Hong Kong market while providing a preferred option for investors in a low-interest-rate environment [4]

Group 1 - The Hong Kong stock market has become a focal point for capital this year, driven by multiple favorable factors, including the transition of the Federal Reserve into a rate-cutting cycle and the influx of southbound capital from mainland China, which has exceeded 820 billion HKD as of July 25, 2025, surpassing the total for the entire year of 2024 [1] - The newly launched Hong Kong Dividend ETF by Fuqun (fund code: 159277) aims to provide investors with an opportunity to invest in high-dividend assets in the Hong Kong market, capitalizing on the current market enthusiasm [1][2] Group 2 - The Hong Kong Dividend ETF targets high-dividend assets, which have become increasingly attractive in the current low-interest-rate environment, with a dividend yield of 5.69% and a price-to-earnings ratio of 7.47, making it more appealing compared to the China Securities Dividend Index [2] - The underlying index of the ETF, the Hong Kong Stock Connect High Dividend Index, consists of 50 stocks with a high concentration of state-owned enterprises, which account for 87% of the index, ensuring market competitiveness and stability in dividends [3] Group 3 - The fund manager, Tian Ximeng, has extensive experience in Hong Kong stock research and management, overseeing multiple successful funds, including the Hong Kong Stock Connect Internet ETF, which has exceeded 60 billion HKD in size as of July 25, 2025 [4] - The ETF offers a competitive fee structure, with a management and custody fee of only 0.40%, which is 33% lower than similar ETFs tracking the same index, thereby reducing investment costs for investors [4]

Group 1 - The core viewpoint of the news is that the Hong Kong stock market is experiencing a significant influx of capital, with southbound funds through the Stock Connect channel net buying over 730 billion HKD in the first half of 2025, marking a historical high for the same period [1] - The launch of the Hong Kong Stock Connect Dividend ETF by FuGuo provides an efficient tool for investors to allocate to high-quality dividend assets in the Hong Kong stock market, benefiting from both valuation recovery and capital inflow [1][5] - The Hong Kong Stock Connect Dividend ETF closely tracks the CSI Hong Kong Stock Connect High Dividend Investment Index, which focuses on high dividend yield and continuous dividend payments, offering a strong benchmark for investors [2] Group 2 - The index has a high dividend yield of 7.75% and a price-to-earnings ratio of 7.22, significantly outperforming the CSI Dividend Index, which has a yield of 5.57% and a P/E ratio of 8.06 [2] - Over the past three years, the index has shown an average dividend yield of 8.87%, providing solid income support for investors [2] - The index has demonstrated strong historical performance, with a total return of 61.18% since its inception and 25.36% over the past three years, outperforming the CSI 300 Index [3] Group 3 - The top five industries represented in the index include banking (27.4%), transportation (20.0%), and coal (11.7%), with 87% of the weight in state-owned enterprises and nearly 70% of the constituents having paid dividends for 10 consecutive years [3] - FuGuo Fund has a strong track record in quantitative index management, managing nearly 70 ETFs and receiving numerous awards for its investment research capabilities [4] - The fund manager for the Hong Kong Stock Connect Dividend ETF, Tian Ximeng, has extensive experience in securities and investment management, enhancing the fund's credibility [4] Group 4 - The Hong Kong Stock Connect Dividend ETF is launched at a favorable time for dividend investment, with insurance institutions showing a significant preference for the Hong Kong market, which accounts for 51% of their overseas investment [5] - The ETF's low fee structure, with a management and custody fee of only 0.40%, provides a competitive advantage, allowing investors to maximize their dividend returns [4][5]