Core Viewpoint - The announcement details the second dividend distribution for the year 2025 from the Great Wall National Certificate Free Cash Flow Index Fund, highlighting the distribution plan and key dates for investors [1]. Summary by Sections Dividend Announcement - The dividend distribution is based on the record date of December 12, 2025, with a cash dividend of 0.02 yuan per 10 shares for both Class A (024078) and Class C (024079) of the fund [1]. - The record date for shareholders to be eligible for the dividend is December 24, 2025, and the cash dividend will be distributed on December 25, 2025 [1]. Reinvestment Option - Investors opting for dividend reinvestment will have their cash dividends converted into fund shares based on the net asset value (NAV) determined on December 24, 2025 [1]. - The shares converted through the reinvestment option will be credited to the investors' fund accounts on December 25, 2025 [1]. Fee Structure - The fund's dividend distribution will not incur any dividend handling fees or reinvestment costs, as per the regulations from the Ministry of Finance and the State Administration of Taxation [1].

Core Points - The announcement details the first dividend distribution for the year 2025 for the Changcheng Guozheng Free Cash Flow Index Fund [1] - The dividend distribution base date is set for November 11, 2025, with specific dividend amounts outlined for different fund classes [1] Summary by Categories Dividend Distribution - The dividend distribution plan includes a cash dividend of 0.02 yuan per 10 shares for both Class A and Class C funds [1] - The net asset values (NAV) for the funds on the base date are 1.06 yuan for Class A and 1.05 yuan for Class C [1] Key Dates - The equity registration date for dividend eligibility is November 24, 2025, and the cash dividend payment date is November 25, 2025 [1] - For investors opting for dividend reinvestment, the NAV determination date for the conversion will also be November 24, 2025, with shares credited to accounts on November 25, 2025 [1] Tax and Fees - According to relevant regulations, the fund's dividend distribution is exempt from income tax [1] - There are no fees for the dividend distribution or for the reinvestment of dividends [1]

Group 1 - The public fund market experienced a small peak in issuance last week, with 34 new funds established and a total fundraising amount of 39.74 billion yuan, indicating a gradual recovery in market sentiment [1] - The recovery is characterized by a clear "risk-averse + structured" feature, with over 60% of the fundraising coming from bond funds, while equity funds remain cautious but some products still attract investment due to strategic advantages [1][2] - Among the new products, 11 bond funds raised 25.11 billion yuan, accounting for 63.18% of the total issuance, while 13 equity funds raised 8.72 billion yuan, representing 21.94% [1] Group 2 - The average fundraising scale for newly established funds was approximately 1.17 billion yuan, with the top bond fund, Huazhong Shanghai Clearing House 0-5 Year Government Financial Bond A, raising 5.99 billion yuan [1] - The "fixed income +" strategy products and Hong Kong stock direction funds showed strong demand, with Morgan Fund's Yingyuan Steady Three-Month Holding A raising 2.75 billion yuan in just one day, marking it as the first "sold out in one day" FOF product since 2025 [2] - The free cash flow strategy emerged as a highlight, with multiple fund companies launching passive products tracking the CSI 800 Free Cash Flow Index, collectively raising 6.70 billion yuan [2][3] Group 3 - The top three funds under the free cash flow strategy included Changcheng National Securities Free Cash Flow Index A (2.21 billion yuan), Fuguo CSI 800 Free Cash Flow ETF Link A (1.69 billion yuan), and Suxin CSI 800 Free Cash Flow Index A (1.30 billion yuan) [3] - The free cash flow strategy focuses on selecting companies with abundant cash flow and high profitability quality, aligning with the current market preference for certainty in assets [3] - Overall, the recent recovery in the public fund issuance market reflects both a concentrated release of risk-averse demand and institutions' ability to capture structural opportunities [3]

Core Viewpoint - The public fund market experienced a resurgence with 34 new funds launched, raising a total of 39.74 billion yuan, indicating a gradual recovery in market sentiment [1] Fund Issuance Overview - The issuance of bond funds accounted for over 60% of the total, with 11 new bond funds raising 25.11 billion yuan, representing 63.18% of the total issuance [1] - Equity funds saw 13 new launches with a total of 8.72 billion yuan raised, making up 21.94% of the total [1] - Mixed funds had 7 new launches raising 3.04 billion yuan, accounting for 7.65% [1] - No new products were launched in money market, alternative investments, or QDII categories [1] Notable Products - The top fund by issuance was Huazhong Shanghai Clearing House 0-5 Year Government Financial Bonds A, raising 5.99 billion yuan [1] - Other significant funds included China Resources Yuanda Central Bond Green Inclusive Theme Financial Preferred Index A at 5.7 billion yuan and Southern Stable Income A at 4.998 billion yuan [1] Stock Fund Dynamics - Despite a higher number of stock funds, the average fundraising size was lower [2] - "Fixed Income +" strategy products and Hong Kong stock funds showed strong demand, with Morgan Fund's Yingyuan Steady Three-Month Holding A raising 2.752 billion yuan in just one day [2] - The Hong Kong stock fund from Qianhai Kaiyuan raised 1.117 billion yuan over 19 days, while Penghua Fund's Hong Kong Technology ETF raised 320 million yuan [2] Free Cash Flow Strategy - The free cash flow strategy emerged as a highlight, with five related funds raising a total of 6.703 billion yuan [3] - The top three funds in this category were Changcheng National Certificate Free Cash Flow Index A (2.208 billion yuan), Fortune China Securities 800 Free Cash Flow ETF Linked A (1.691 billion yuan), and Su Xin China Securities 800 Free Cash Flow Index A (1.298 billion yuan) [3] - This strategy focuses on selecting companies with abundant cash flow and high profitability, aligning with current market preferences for certainty [3] Market Sentiment - The recent recovery in the public fund market reflects a concentrated release of risk-averse demand and institutions' ability to capture structural opportunities [3] - Bond funds continue to solidify their position as a "ballast" due to their low volatility, while the performance of free cash flow strategies and Hong Kong stock funds injects differentiated vitality into the market [3]