Group 1: Dividend Indices - The Low Volatility Dividend Index (H30269.CSI) includes 50 securities with good liquidity, continuous dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility, with a dividend yield of 4.57% as of February 2 [1] - The Quality Dividend Index (931468.CSI) consists of 50 securities that continuously pay cash dividends, have high payout ratios, and exhibit high profitability, with a dividend yield of 2.95% as of February 2 [1] Group 2: Company Dividend Announcements - Lanzhou Bank announced a cash dividend of RMB 0.50 per 10 shares (tax included), with a record date of February 6, 2026, and an ex-dividend date of February 9, 2026 [2] - CITIC Securities declared a cash dividend of RMB 0.29 per share (tax included), with a record date of February 6, 2026, and an ex-dividend date of February 9, 2026 [2] - Zhongcheng Consulting will distribute a cash dividend of RMB 4.00 per 10 shares (tax included), with a record date of February 9, 2026, and an ex-dividend date of February 10, 2026 [2] - Victory Shares announced a cash dividend of RMB 0.15 per 10 shares (tax included), with a record date of February 9, 2026, and an ex-dividend date of February 10, 2026 [2] - Three Gorges Water Conservancy declared a cash dividend of RMB 0.05 per share (tax included), with a record date of February 6, 2026, and an ex-dividend date of February 9, 2026 [3] - Anhui Construction announced a cash dividend of RMB 0.10 per share (tax included), with a record date of February 6, 2026, and an ex-dividend date of February 9, 2026 [3] - Haitong Development declared a cash dividend of RMB 0.05 per share (tax included), with a record date of February 6, 2026, and an ex-dividend date of February 9, 2026 [3] - Rongsheng Environmental Protection announced a cash dividend of RMB 3.80 per 10 shares (tax included), with a record date of February 6, 2026, and an ex-dividend date of February 9, 2026 [4] - Zhizheng Co. declared a cash dividend of RMB 0.01 per share (tax included), with a record date of February 9, 2026, and an ex-dividend date of February 10, 2026 [4] - Jianfa Co. announced a cash dividend of RMB 0.20 per share (tax included), with a record date of February 10, 2026, and an ex-dividend date of February 11, 2026 [4] - AVIC Shenyang Aircraft announced a cash dividend of RMB 0.14 per share (tax included), with a record date of February 10, 2026, and an ex-dividend date of February 11, 2026 [5]

Group 1: Dividend Indices - The Low Volatility Dividend Index (H30269.CSI) includes 50 securities with good liquidity, continuous dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility, with a dividend yield of 4.53% as of January 30 [1] - The Quality Dividend Index (931468.CSI) consists of 50 securities that provide continuous cash dividends, have high payout ratios, and exhibit high profitability, with a dividend yield of 2.88% as of January 30 [1] Group 2: Company Dividend Announcements - Huaxin New Materials announced a cash dividend of 1 yuan per 10 shares (tax included), with a record date of February 5, 2026, and an ex-dividend date of February 6, 2026 [1] - Founder Securities declared a cash dividend of 0.01 yuan per share (tax included), with a record date of February 5, 2026, and an ex-dividend date of February 6, 2026 [2] - Anhui Anfu Battery Technology announced a cash dividend of 0.12 yuan per share (tax included), with a record date of February 5, 2026, and an ex-dividend date of February 6, 2026 [2] - Gujing Gongjiu declared a cash dividend of 10 yuan per 10 shares (tax included), with a record date of February 9, 2026, and an ex-dividend date of February 10, 2026 [2] - Shanghai Laishi announced a cash dividend of 0.153 yuan per 10 shares (tax included), with a record date of February 9, 2026, and an ex-dividend date of February 10, 2026 [3] - Industrial Bank declared a cash dividend of 0.565 yuan per share (tax included), with a record date of February 5, 2026, and an ex-dividend date of February 6, 2026 [3]

Group 1: Dividend Indices - The Low Volatility Dividend Index (H30269.CSI) includes 50 securities with good liquidity, continuous dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility, with a dividend yield of 4.51% as of January 29 [1] - The Quality Dividend Index (931468.CSI) consists of 50 securities that continuously pay cash dividends, have high payout ratios, and exhibit high profitability, with a dividend yield of 2.84% as of January 29 [1] Group 2: Company Dividend Announcements - China Everbright Bank announced a cash dividend of RMB 0.105 per share (tax included), with the record date on February 4, 2026, and the ex-dividend date on February 5, 2026 [1] - Zijin Bank declared a cash dividend of RMB 0.05 per share (tax included), with the record date on February 4, 2026, and the ex-dividend date on February 5, 2026 [2] - Yiyi Co., Ltd. announced a cash dividend of RMB 0.2189568 per share (tax included), with the record date on February 3, 2026, and the ex-dividend date on February 4, 2026 [2] - Vatti Corporation declared a cash dividend of RMB 1 per 10 shares (tax included), with the record date on February 3, 2026, and the ex-dividend date on February 4, 2026 [2] - Beihua Co., Ltd. announced a cash dividend of RMB 0.25 per 10 shares (tax included), with the record date on February 3, 2026, and the ex-dividend date on February 4, 2026 [3] - Xiamen International Trade Group announced a cash dividend of RMB 0.10 per share (tax included), with the record date on February 3, 2026, and the ex-dividend date on February 4, 2026 [3] - Sree New Materials declared a cash dividend of RMB 0.04 per share (tax included), with the record date on February 3, 2026, and the ex-dividend date on February 4, 2026 [3] - Kingmed Diagnostics announced a cash dividend of RMB 0.88 per share (tax included), with the record date on February 4, 2026, and the ex-dividend date on February 5, 2026 [4] - Hefei Gaoke declared a cash dividend of RMB 1 per 10 shares (tax included), with the record date on February 4, 2026, and the ex-dividend date on February 5, 2026 [4] - Zhongke Shuguang announced a cash dividend of RMB 0.07 per share (tax included), with the record date on February 4, 2026, and the ex-dividend date on February 5, 2026 [4] - Furande announced a cash dividend of RMB 0.20 per share (tax included), with the record date on February 4, 2026, and the ex-dividend date on February 5, 2026 [5] - China Electric Power Research Institute declared a cash dividend of RMB 0.25 per share (tax included), with the record date on February 5, 2026, and the ex-dividend date on February 6, 2026 [6] - Kewell announced a cash dividend of RMB 0.10 per share (tax included), with the record date on February 5, 2026, and the ex-dividend date on February 6, 2026 [6] - Yabao Pharmaceutical announced a cash dividend of RMB 0.20 per share (tax included), with the record date on February 5, 2026, and the ex-dividend date on February 6, 2026 [6]

Group 1 - The Low Volatility Dividend Index (H30269.CSI) selects 50 securities with good liquidity, continuous dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility, with a dividend yield of 4.91% as of January 23 [1] - The Low Volatility Dividend ETF (华夏 159547) is the ETF with the lowest comprehensive fee tracking this index, with quarterly evaluations for dividends [1] - The Quality Dividend Index (931468.CSI) selects 50 listed companies with continuous cash dividends, high payout ratios, and strong profitability, with a dividend yield of 3.06% as of January 23 [1] Group 2 - Luzhou Laojiao announced a cash dividend of 1.358 yuan per share (tax included), with the record date on January 29, 2026, and the ex-dividend date on January 30, 2026 [1] - Tianyuan Intelligent announced a cash dividend of 0.02 yuan per share (tax included), with the record date on January 29, 2026, and the ex-dividend date on January 30, 2026 [2]

Group 1: Dividend Indices - The Low Volatility Dividend Index (H30269.CSI) selects 50 securities with good liquidity, continuous dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility, with a dividend yield of 4.87% as of January 22 [1] - The Quality Dividend Index (931468.CSI) selects 50 securities of listed companies with continuous cash dividends, high payout ratios, and strong profitability, with a dividend yield of 3.55% as of January 22 [1] - The Low Volatility Dividend ETF (华夏 159547) is the ETF with the lowest comprehensive fee tracking the Low Volatility Dividend Index, while the Quality Dividend ETF (159758) is the only ETF tracking the Quality Dividend Index [1] Group 2: Company Dividend Announcements - Wuchan Zhongda announced a cash dividend of 0.10 yuan per share (tax included), with a record date of January 29, 2026, and an ex-dividend date of January 30, 2026 [2] - CITIC Metal announced a cash dividend of 0.119 yuan per share (tax included), with a record date of January 29, 2026, and an ex-dividend date of January 30, 2026 [2] - Wuchan Huaneng announced a cash dividend of 0.10 yuan per share (tax included), with a record date of January 29, 2026, and an ex-dividend date of January 30, 2026 [2] - Richen Co. announced a cash dividend of 0.30 yuan per share (tax included), with a record date of January 28, 2026, and an ex-dividend date of January 29, 2026 [2] - Haiguang Information announced a cash dividend of 0.09 yuan per share (tax included), with a record date of January 28, 2026, and an ex-dividend date of January 29, 2026 [3]

Group 1 - The Low Volatility Dividend Index (H30269.CSI) includes 50 securities characterized by good liquidity, continuous dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility. As of January 20, the index has a one-year dividend yield of 4.79% [1] - The Low Volatility Dividend ETF (华夏 159547) is the ETF with the lowest comprehensive fee that tracks this index, with quarterly assessments for dividends. The linked funds are Class A (021482) and Class C (021483) [1] - The Dividend Quality Index (931468.CSI) consists of 50 listed companies that provide continuous cash dividends, have high payout ratios, and exhibit strong profitability. As of January 20, this index has a one-year dividend yield of 3.49% [1] Group 2 - The Dividend Quality ETF (159758) is the only ETF tracking the Dividend Quality Index, with linked funds being Class A (016440), Class C (016441), and Class D (024263) [1] - S Jiayuan announced a cash dividend of 0.28 yuan per share (tax included), with the record date on January 27, 2026, and the ex-dividend date on January 28, 2026. It is classified under the automotive sector and is not part of the Low Volatility Dividend or Dividend Quality indices [1] - Chuangyao Technology declared a cash dividend of 0.20 yuan per share (tax included), with the record date on January 27, 2026, and the ex-dividend date on January 28, 2026. It is classified under the electronics sector and is also not part of the Low Volatility Dividend or Dividend Quality indices [2]

Core Viewpoint - The A-share market experienced an overall adjustment on January 20, with the three major indices opening high and then declining. In this context, the Dividend Low Volatility ETF (512890) rose by 1.05%, closing at 1.156 yuan, with a turnover rate of 1.94% and a transaction volume of 5.20 billion yuan, ranking first among similar ETFs in terms of transaction volume [1][7]. Fund Performance - The Dividend Low Volatility ETF (512890) was established on December 19, 2018, with a benchmark of the CSI Dividend Low Volatility Index return. As of January 19, 2026, it has achieved a total return of 128.72%, outperforming its benchmark, making it a stable tool for asset allocation in a volatile market [5][11]. - The ETF has seen significant net inflows, with 7.7 billion yuan over the last 5 trading days, 15.2 billion yuan over the last 20 days, and 32.1 billion yuan over the last 60 days. As of January 19, 2026, its circulating scale was 266.61 billion yuan [2][8]. Market Context - The cash dividend scale of A-share listed companies is expected to reach a record high of 2.55 trillion yuan in 2025, a year-on-year increase, which is twice the total amount of IPOs and refinancing during the same period, indicating a significant enhancement in dividend return capabilities [4][10]. - Investment in traditional sectors remains under pressure, with construction, real estate, and manufacturing showing varying year-on-year growth rates of -2.2%, -17.2%, and +0.6%, respectively. The market is expected to stabilize gradually due to real estate policies [4][11].

Market Overview - On January 16, the market opened high but retreated, with all three major indices closing lower. The Shanghai Composite Index closed at 4103.45 points, down 0.22%; the Shenzhen Component Index closed at 14293.08 points, down 0.10%; and the ChiNext Index closed at 3367.45 points, down 0.01% [1][6]. ETF Performance - The Dividend Low Volatility ETF (512890) fell by 0.61%, closing at 1.146 yuan, with a turnover rate of 2.22% and a transaction amount of 581 million yuan [1][6]. - Over the past five trading days, the Dividend Low Volatility ETF experienced a net outflow of 132 million yuan, while it saw a net inflow of 1.169 billion yuan over the past 20 days and 2.697 billion yuan over the past 60 days. As of January 15, 2026, the ETF's circulation scale was 26.205 billion yuan [2][7]. Monetary Policy Measures - The central bank introduced eight monetary policy measures focusing on structural monetary policy tools to support domestic demand, technological innovation, and financing needs of small and micro enterprises. Key measures include a 0.25 percentage point reduction in the interest rates of various structural monetary policy tools, expected to save banks approximately 13.5 billion yuan [4][10]. - The total quota for structural monetary policy tools has been expanded by 1.9 trillion yuan, and the minimum down payment ratio for commercial property loans has been lowered to 30% [4][10]. Economic Outlook - Analysts from Galaxy Securities noted a clear collaboration between monetary and fiscal policies, with expectations of a 50 basis point reserve requirement ratio cut in the first quarter to maintain reasonable liquidity. A comprehensive interest rate cut is anticipated to wait for a suitable timing [4][10]. - Dongwu Securities' chief economist indicated that the current spring market rally is in its latter half, with potential for a price-volume divergence if transaction volumes do not continue to rise [4][10]. Fund Performance - The Dividend Low Volatility ETF, established on December 19, 2018, has a total return of 130.38%, outperforming its benchmark. It ranks 107th among 502 funds, making it a stable tool for asset allocation in volatile markets [5][11].

Group 1 - The Low Volatility Dividend Index (H30269.CSI) includes 50 securities with good liquidity, continuous dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility. As of January 14, the index has a one-year dividend yield of 4.57% [1] - The Low Volatility Dividend ETF (华夏 159547) is the ETF with the lowest comprehensive fee tracking this index, with quarterly evaluations for dividends. The linked funds are Class A (021482) and Class C (021483) [1] - The Dividend Quality Index (931468.CSI) consists of 50 listed companies that provide continuous cash dividends, have high payout ratios, and exhibit high profitability. As of January 14, this index has a one-year dividend yield of 3.49% [1] - The only ETF tracking the Dividend Quality Index is the Dividend Quality ETF (159758), with linked funds being Class A (016440), Class C (016441), and Class D (024263) [1] Group 2 - Chongqing Rural Commercial Bank (渝农商行) announced a cash dividend of RMB 0.20336 per share (tax included), with the record date on January 22, 2026, and the ex-dividend date on January 23, 2026. It is a component of the Low Volatility Dividend Index (H30269.CSI) but not part of the Dividend Quality Index (931468.CSI) [1] - Bojie Co., Ltd. (博杰股份) declared a cash dividend of RMB 0.940663 per 10 shares (tax included), with the record date on January 21, 2026, and the ex-dividend date on January 22, 2026. It is not included in either the Low Volatility Dividend Index (H30269.CSI) or the Dividend Quality Index (931468.CSI) [2]

Group 1 - The core viewpoint of the article highlights the increasing trend of insurance capital stake acquisitions, with a notable example being Taiping Asset's acquisition of a 5% stake in Shanghai Airport, marking the first instance of such activity in 2026 [1] - In 2025, the number of stake acquisitions by insurance capital reached 41, a significant increase from 20 in 2024, setting a near ten-year high, second only to the historical peak in 2015 [1] - The current wave of stake acquisitions differs from previous ones, primarily driven by two considerations: the emphasis on high dividend stocks in a low-interest-rate environment and the strategy of long-term equity investments in high-quality targets with stable ROE to optimize asset structure [1] Group 2 - The trend of frequent stake acquisitions by insurance capital is expected to continue in 2026, driven by the same two investment logic considerations [1] - Other funds are focusing more on low-volatility dividend strategies, as exemplified by the low-volatility dividend index (H30269.CSI), which selects securities with stable dividends, high dividend yields, and low volatility [1] - As of January 13, the one-year dividend yield of the low-volatility dividend index was 4.45%, with the Huaxia low-volatility dividend ETF (159547) being the lowest fee ETF tracking this index [1]