2025-08-29-港交所-南方沪深三百_截至二零二五年六月三十日止的未经审核中期报告页_17页_572kb

CSOP Huatai-PineBridge CSI 300 ETF Summary

Core Information

• Fund Type: Unit trust, a sub-fund of the CSOP ETF Series, which includes synthetic ETFs.
• Launch Date: 15 July 2024
• Trading Start Date: 16 July 2024
• Stock Code: 3133 (HKD)
• Manager: CSOP Asset Management Limited
• Trustee: HSBC Institutional Trust Services (Asia) Limited
• Custodian: The Hongkong and Shanghai Banking Corporation Limited (HK) and HSBC Bank (China) Company Limited (PRC)
• Listing Agent: Altus Capital Limited
• Service Agent: HK Conversion Agency Services Limited
• Investment Objective: To provide investment results closely corresponding to the CSI 300 Index performance, before fees and expenses.

Fund Performance

• Performance Period: 12 July 2024 to 30 June 2025
• Dealing NAV per Unit: RMB8.3714 at 30 June 2025
• Total Outstanding Units: 47,800,000
• Total Assets Under Management: Approximately RMB400.2 million
• Performance Comparison:
  • Sub-Fund NAV Increase: 14.83%
  • CSI 300 Index Increase: 13.23%
• Performance Difference: Mainly due to dividends, fees, and expenses, including tax on dividends and distributions to unitholders.

Financial Position (Condensed Statement of Financial Position)

• Total Assets: RMB400,947,942
• Total Liabilities: RMB1,187,023
• Net Assets Attributable to Unitholders: RMB399,760,919
• Key Assets:
  • Investments: RMB399,165,635 (99.85% of net assets)
  • Cash and Cash Equivalents: RMB1,449,533
• Key Liabilities:
  • Management Fee Payable: RMB65,467
  • License Fee Payable: RMB49,643
  • Establishment Cost Payable: RMB877,417
  • Other Accounts Payable: RMB194,496

Comprehensive Income (Condensed Statement of Comprehensive Income)

• Total Net Income: RMB21,718,260
• Total Operating Expenses: (RMB3,113,282)
• Operating Gain: RMB18,604,978
• Taxation: (RMB59)
• Increase in Net Assets Attributable to Unitholders: RMB18,604,919

Changes in Net Assets (Condensed Statement of Changes in Net Assets Attributable to Unitholders)

• Net Assets at the Beginning of the Period: Not applicable (new fund)
• Units Issued: RMB466,039,900
• Units Redeemed: (RMB84,883,900)
• Net Increase from Unit Transactions: RMB381,156,000
• Increase in Net Assets Attributable to Unitholders: RMB18,604,919
• Net Assets at the End of the Period: RMB399,760,919

Cash Flows (Condensed Statement of Cash Flows)

• Net Cash Used in Operating Activities: (RMB379,706,467)
• Net Cash Generated from Financing Activities: RMB381,156,000
• Net Increase in Cash and Cash Equivalents: RMB1,449,533
• Cash and Cash Equivalents at the End of the Period: RMB1,449,533

Investment Portfolio (Unaudited)

• Investments (99.85% of net assets):
  • Listed Investment Fund (99.85%):
    • HUATAI-PINEBRIDGE CSI 300 ETF: 100,242,500 units, fair value RMB399,165,635
• Other Net Assets (0.15%):
  • Fair value: RMB595,284
• Total Net Assets Attributable to Unitholders: RMB399,760,919

Performance Record (Unaudited)

• CSI 300 Index Increase: 13.35%
• Sub-Fund NAV per Unit Increase: 14.95%
• Net Asset Value (NAV) at 30 June 2025: RMB401,120,396
• Highest NAV per Unit: RMB9.1025
• Lowest NAV per Unit: RMB6.6714

Index Constituent Stock Disclosure (Unaudited)

• Investment Strategy:
  • The Sub-Fund is benchmarked against the CSI 300 Index.
  • It invests at least 90% of its NAV in the Master ETF (HUATAI-PINEBRIDGE CSI 300 ETF) through QFI status or Stock Connect.
  • The fund may overweight constituent securities, but the maximum extra weighting in any single security does not exceed the limit reasonably determined by the fund and approved by the SFC.
• Compliance:
  • No single constituent security exceeded 10% of the Sub-Fund’s net asset value.
  • The fund has complied with the investment limits in accordance with the SFC Code.

Accounting Policies (Notes to the Unaudited Condensed Financial Statements)

• Basis of Preparation: HKFRSs (Hong Kong Financial Reporting Standards).
• Financial Instruments:
  • Classification: Based on business model and cash flow characteristics.
  • Measurement: All investments are measured at fair value through profit or loss.
  • Fair Value Estimation: For actively traded assets, fair value is based on quoted market prices. For non-actively traded assets, fair value is estimated using broker quotes or valuation techniques.
• Redeemable Units:
  • Units are redeemable at the holder's option.
  • Valued based on the Sub-Fund’s net asset value per unit at the time of issue or redemption.
• Taxation:
  • Withholding taxes on investment income are recorded as expenses.
  • The fund is exempt from Hong Kong profits tax on its authorised activities.
• Establishment Costs:
  • Recognised as expenses in the period incurred.

Key Entities Involved

Conclusion

The CSOP Huatai-PineBridge CSI 300 ETF is a passively managed ETF tracking the CSI 300 Index, launched in Hong Kong on 15 July 2024. It invests primarily in the Master ETF listed on the Shanghai Stock Exchange. The fund has shown slightly better performance than the CSI 300 Index, with a 14.83% increase in dealing NAV compared to the Index's 13.23% increase. The fund's financial statements are prepared in accordance with HKFRSs and disclose compliance with investment limits and SFC regulations. The fund's net assets at 30 June 2025 are RMB399,760,919, with a total asset value of approximately RMB400.2 million.