Group 1 - The core viewpoint is that dividend assets are gaining popularity in a low-interest-rate environment, with the launch of the Rongtong CSI Chengtong Central Enterprise Dividend ETF Fund, which raised 983 million yuan [1] - The long-term investment value of dividend assets has been validated in the A-share market, and the dividend strategy is considered to have a relatively high cost-performance ratio under the current economic conditions [1][2] - The new "National Nine Articles" policy strengthens the regulation of cash dividends for listed companies, indicating a shift towards greater emphasis on shareholder returns in the A-share market [1][2] Group 2 - The CSI Chengtong Central Enterprise Dividend Index has shown a cumulative return of 95.97% and an annualized return of 8.59% from December 30, 2016, to May 30, 2025, outperforming other indices [1] - Central enterprises are identified as a crucial pillar of the national economy and are significant contributors to dividends, with a total dividend payout of approximately 1.25 trillion yuan from the index constituents over the past three years [2][3] - The index's dynamic price-to-earnings ratio is 11.4 times, and the price-to-book ratio is 1.08 times, both at their lowest levels in the past decade, indicating substantial potential for valuation recovery [2]