Market Overview - The A-share market experienced a collective adjustment, with the Shanghai Composite Index down by 1.88%, the Shenzhen Component Index down by 2.72%, and the ChiNext Index down by 3.18% [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 13,174 billion yuan, an increase of 2,004 billion yuan compared to the previous day [1] - Over 4,900 stocks in the market declined, indicating a broad market downturn [1] Sector Performance - The lithium battery industry chain saw a significant decline, alongside a collective pullback in computing hardware themes, with memory and CPO sectors leading the losses [1] - The photovoltaic, NVIDIA, stablecoin, consumer electronics, and semiconductor concept stocks also experienced notable declines [1] - The rare metals sector faced severe losses, with rare metals ETFs and funds dropping by 7.05% and 6.99% respectively [4] - The semiconductor sector also fell, with the China-Korea semiconductor ETF down by 6.06% [4] - The new energy sector, represented by the Sci-Tech Innovation New Energy ETF and the Sci-Tech Board New Energy ETF, both dropped by 5.8% [4] ETF Performance - In the ETF market, the Huaxia Fund's soybean meal ETF rose by 0.45%, leading the market [3] - The Bosera Fund's leading home appliance ETF increased by 0.09% [3] - Bond ETFs showed resilience, with the Sci-Tech Bond ETFs from Invesco, Penghua, and Bosera rising by 0.05%, 0.04%, and 0.04% respectively [3]

Group 1 - The core viewpoint of the news highlights the performance and market activity of the Science and Technology Innovation Bond ETF (科创债ETF博时), which has shown a slight increase and significant trading volume, indicating a positive market sentiment [1][2]. - As of October 29, 2025, the Science and Technology Innovation Bond ETF has accumulated a weekly increase of 0.43%, ranking it 1 out of 6 among comparable funds, with a trading volume of 46 billion yuan [1][3]. - The People's Bank of China announced the resumption of government bond trading operations after a ten-month hiatus, reflecting a stable bond market environment [1][2]. Group 2 - According to Guangfa Securities, the financial system needs to align with national strategies and deepen investment and financing reforms, which will enhance the resilience and risk resistance of the capital market, providing better support for technology innovation enterprises [2]. - Huaxi Securities noted that the policy benefits create a broad space for the Science and Technology Innovation Bond market, with the ETF being the only index tool in the technology bond sector, expected to maintain its long-term value and market influence [2]. - The Science and Technology Innovation Bond ETF closely tracks the Shanghai AAA Technology Innovation Company Bond Index, which selects bonds based on maturity and credit ratings to reflect the overall performance of technology innovation company bonds listed on the Shanghai Stock Exchange [3].

Group 1 - The A-share market has entered a phase of high volatility after reaching a new high, with active trading despite mixed performance [1] - The hard technology sector, including artificial intelligence, chips, and large model computing power, is a key driver of the current market trend [1] - Bosera Fund has established a strong investment research platform and quantitative team to navigate market fluctuations and identify asset value [2] Group 2 - Bosera Fund was one of the first five fund management companies approved by the China Securities Regulatory Commission and has been a pioneer in the industry since its establishment in 1998 [2] - The company initiated its technology investment strategy in 2016, three years before the launch of the Sci-Tech Innovation Board, and established a dedicated research team focusing on TMT, new energy, biomedicine, and high-end equipment [2] - Bosera Fund has developed a dynamic valuation model to address the valuation challenges of Sci-Tech enterprises, enhancing the efficiency of research outcomes into investment [2] Group 3 - As of the end of 2024, Bosera Fund's holdings in technology companies have increased by nearly 50% since 2019, with the number of equity public products in the technology sector rising by 218% [7] - The Sci-Tech 100 Index ETF has shown strong performance, with a one-year net asset value growth of 39.42%, outperforming its benchmark [7] - The Sci-Tech AI ETF, managed by Li Qingyang, has grown from 235 million yuan to over 6.3 billion yuan since its inception, with a net value increase of 17.02% [7] Group 4 - The Sci-Tech Chip ETF has also performed well, with a net value increase of 62.19% since its inception, and its benchmark return at 66.22% [8] - Bosera Fund's product matrix covers the entire Sci-Tech industry chain, offering both actively managed thematic funds and passive products tracking the Sci-Tech 50 Index [8] - The company has launched an AI + Semiconductor ETF, which has successfully captured opportunities in both artificial intelligence and domestic substitution, with an initial scale exceeding 8 billion yuan [8]

Core Insights - The issuance of technology innovation bonds (科创债) has significantly increased in 2023, with 47 banking institutions successfully issuing 52 bonds totaling 261.5 billion yuan [2] - The policy support from the People's Bank of China and the China Securities Regulatory Commission has facilitated a more efficient and recognized issuance process for technology innovation bonds, providing banks with stable, long-term, and low-cost funding sources [3] Group 1: Market Performance - The BoShi Technology Innovation Bond ETF (科创债ETF博时) has seen a slight increase of 0.05%, with the latest price at 99.3 yuan [2] - The ETF recorded a trading volume of 6.9147 million yuan with a turnover rate of 0.07% during the trading session [2] - Over the past week, the average daily trading volume of the ETF reached 3.778 billion yuan [2] Group 2: Issuance Details - The issuance of technology innovation bonds has been supported by a policy that allows flexible bond terms, encouraging long-term bonds that better match the funding needs of the technology sector [2] - Among the 52 bonds issued, over 30 were from local small and medium-sized banks, which accounted for more than 60% of the total issuance, making them the main contributors to the technology innovation bond market [2] Group 3: Fund Growth - The BoShi Technology Innovation Bond ETF has experienced a significant growth of 12.33 million yuan in scale over the past two weeks, ranking third among comparable funds [3] - In terms of shares, the ETF saw an increase of 7.318 million shares over the past three months, also ranking third among comparable funds [3] - The ETF closely tracks the Shanghai Stock Exchange AAA Technology Innovation Company Bond Index, reflecting the overall performance of technology innovation bonds listed on the exchange [3]

Core Insights - The recent issuance of Sci-Tech Innovation Bonds by local banks indicates a growing support for technology innovation enterprises, which is expected to provide funding for small and medium-sized tech companies [3] Group 1: Market Performance - As of September 25, 2025, the Sci-Tech Bond ETF from Bosera (551000) has decreased by 0.26%, with the latest price at 99.02 yuan [2] - The trading volume for the Sci-Tech Bond ETF was active, with a turnover of 13.75% and a transaction value of 1.434 billion yuan [2] - Over the past year, the average daily transaction volume for the Sci-Tech Bond ETF has been 2.166 billion yuan [2] Group 2: Issuance and Growth - On September 19, Qingdao Bank successfully issued "25 Qingdao Bank Sci-Tech Bond" with a scale of 1 billion yuan, and Chongqing Three Gorges Bank issued "25 Three Gorges Bank Sci-Tech Bond 01" with a scale of 2 billion yuan from September 22 to 24 [2] - As of September 23, 2023, a total of 54 Sci-Tech Bonds have been issued by banks this year, with a cumulative issuance scale of 271 billion yuan [2] - More than 30 local banks have participated in the issuance of Sci-Tech Bonds, becoming a significant force in expanding the market [2] Group 3: Fund Size and Flow - The latest size of the Bosera Sci-Tech Bond ETF has reached 10.454 billion yuan [4] - The fund has seen a balance in inflows and outflows recently, with a total of 458 million yuan raised over the last 10 trading days [4] - The ETF closely tracks the Shanghai Stock Exchange AAA Technology Innovation Company Bond Index, which reflects the overall performance of eligible bonds [4]

Group 1 - The core viewpoint of the news is the significant growth and development of the Sci-Tech Bond ETF market in China, with the recent issuance of 14 new ETFs totaling 407.86 billion yuan, contributing to a total market size exceeding 1.7 trillion yuan [3] - The latest price of the Sci-Tech Bond ETF by Bosera is reported at 99.56 yuan, marking a slight increase of 0.01% and achieving a six-day consecutive rise [3] - The trading volume for the Sci-Tech Bond ETF by Bosera shows a turnover of 0.17% with a transaction value of 18.04 million yuan on the day of reporting, while the average daily transaction over the past year is 2.219 billion yuan [3] Group 2 - The total scale of the bond ETF market has surpassed 600 billion yuan, indicating a robust growth trajectory for bond ETFs in general [3] - The Bosera Sci-Tech Bond ETF has reached a new high in scale at 10.471 billion yuan since its inception, reflecting strong investor interest [3] - Over the past five trading days, the Bosera Sci-Tech Bond ETF has attracted a total of 458 million yuan in inflows, indicating positive market sentiment [3]

Group 1 - The core viewpoint is that the newly launched Sci-Tech Bond ETFs are gaining traction, with significant fundraising and market activity indicating strong investor interest [3][4] - As of September 16, 2023, the latest price of the Sci-Tech Bond ETF from Bosera is 99.46 yuan, with a trading volume of 20.79 million yuan and a turnover rate of 0.2% [3] - The total fundraising amount for the second batch of 14 Sci-Tech Bond ETFs reached approximately 400 billion yuan, with several funds nearing their 3 billion yuan fundraising cap [3] Group 2 - The Bosera Sci-Tech Bond ETF has reached a new high in scale at 10.471 billion yuan and a new high in shares at 10.5 million [4] - The net inflow of funds into the Bosera Sci-Tech Bond ETF was 199,000 yuan, with a total of 458 million yuan raised over the past five trading days [4] - The Bosera Sci-Tech Bond ETF closely tracks the Shanghai AAA Technology Innovation Company Bond Index, reflecting the overall performance of technology innovation company bonds listed on the Shanghai Stock Exchange [4]

Group 1: Core Themes of Recent Events - The 25th China International Investment and Trade Fair was successfully held in Xiamen, focusing on "Investing in China," "Chinese Investment," and "International Investment," with Bosera Asset Management showcasing its international business progress [1] - The 2025 China International Service Trade Fair, themed "Digital Intelligence Drives Open Win-Win," also commenced, where Bosera has consistently participated to demonstrate its role in financial services and digital finance [1] Group 2: Technological Innovation - Bosera Asset Management is enhancing its financial services for the real economy by improving pricing and investment capabilities for technology companies, with a focus on artificial intelligence tools to boost research efficiency and risk management [2] - By mid-2025, Bosera had issued 75 funds targeting technology innovation, with over 50 billion yuan allocated, including a significant focus on the "Beidou Seven Stars" series, which has a combined scale exceeding 13 billion yuan [2] Group 3: Green Development - Since 2024, Bosera has prioritized green investment and sustainable development, establishing an ESG research team and enhancing its ESG scoring system, with ESG fund investments exceeding 13.7 billion yuan and green bond investments over 17 billion yuan by the end of 2024 [3] Group 4: Inclusive Finance - In September 2024, Bosera launched the first public REITs in Tianjin, contributing to infrastructure development and enhancing the vitality of the real economy [4] - The company has reduced fees for multiple funds to enhance investor satisfaction, completing over 120 fee reductions since 2023 [4] Group 5: Investor Education - Bosera has developed a comprehensive client support and knowledge-sharing system to enhance investor education and service [5] Group 6: Pension Support - Bosera is focused on pension fund management, offering a range of pension-targeted FOF products and enhancing investor education to build a comprehensive pension ecosystem [6] - The company has introduced new share classes for its index products to provide more options for pension investments [6] Group 7: Digital Transformation - Since 2018, Bosera has been integrating artificial intelligence into its operations, establishing a dedicated AI lab to enhance research efficiency and risk management across various departments [7] - The company has successfully implemented AI-driven quantitative investment strategies, achieving positive annualized excess returns since 2022 [7][8]

Core Insights - The launch of the Sci-Tech Bond ETF fills a gap in the public fund sector for "technology finance" bond funds, encouraging investors to focus more on long-term value and development prospects of companies, while downplaying short-term market fluctuations [2][3] - The latest scale of the Sci-Tech Bond ETF by Bosera reached 10.022 billion yuan, indicating significant market interest and investment potential [3] Market Activity - As of September 10, 2025, the Sci-Tech Bond ETF by Bosera had a latest quote of 99.47 yuan, with a turnover rate of 1.16% and a transaction volume of 116 million yuan [2] - The second batch of 14 Sci-Tech Bond ETFs is set to be issued on September 12, 2025, with expectations of high demand, potentially raising 27 billion yuan in a single day due to a 30 billion yuan cap per fund [2] Investment Demand - In the context of a low-interest "asset shortage" environment, there is an increasing demand from investors for stable asset allocations, and bond ETFs are seen as a significant growth area [2] - The Sci-Tech Bond ETF effectively supplements the bond ETF sector by providing a new diversified bond asset allocation tool focused on technology investments [2]

Group 1 - The core viewpoint of the news highlights the rapid development of China's scientific research and innovation capabilities, with significant growth in high-end manufacturing sectors such as smart devices, electronic components, industrial robots, and new energy vehicles, many of which have growth rates exceeding 20% [3] - The latest scale of the Science and Technology Innovation Bond ETF managed by Bosera reached 10.023 billion yuan [3] - The Science and Technology Innovation Bond ETF closely tracks the Shanghai Stock Exchange AAA Technology Innovation Company Bond Index, which reflects the overall performance of technology innovation company bonds listed on the exchange [4] Group 2 - The liquidity of the Science and Technology Innovation Bond ETF is indicated by a turnover rate of 0.83% and a transaction volume of 82.9437 million yuan during the trading session [3] - Over the past month, the average daily transaction volume of the Science and Technology Innovation Bond ETF was 2.735 billion yuan [3] - Institutional research suggests that the future of Science and Technology Innovation Bonds remains promising, as they can balance traditional bank lending and emerging capital markets, thereby supporting technological innovation [3]