2024-04-26-港交所-平安香港高息股_2023年报_46页_843kb

Ping An of China CSI HK Dividend ETF Summary

Core Content

Ping An of China CSI HK Dividend ETF (Stock Code: 3070) is a sub-fund of Ping An of China Trust, operating as a Hong Kong unit trust under the Securities and Futures Ordinance (Cap. 571). It aims to track the performance of the CSI Hong Kong Dividend Index by primarily using a replication strategy, investing in all constituent stocks in the same weightings as the index.

Key Information

• Inception Date: 10 February 2012
• Initial Issue Price: HK$19.1482 per unit
• Trading Date: 15 February 2012
• Total Outstanding Units (31 Dec 2023): 33,550,000
• Total Size (31 Dec 2023): Approximately HK$807.642 million
• NAV per Unit (31 Dec 2023): HK$24.07

Main Viewpoints

Investment Strategy

• The ETF primarily follows a replication strategy to mirror the CSI Hong Kong Dividend Index.
• It invests in substantially all of the constituent securities of the index in the same weightings as they appear in the index.

Performance Overview

• Total Return (As at 31 Dec 2023):
  • HK Dividend ETF: 111.53% since inception
  • CSI HK Dividend Index: 152.17% since inception
• Performance for the Year 2023:
  • HK Dividend ETF: 14.02%
  • CSI HK Dividend Index: 16.15%
• Performance for the Year 2022:
  • HK Dividend ETF: 3.33%
  • CSI HK Dividend Index: 4.86%
• Performance for the Year 2021:
  • HK Dividend ETF: -2.74%
  • CSI HK Dividend Index: -2.91%
• Performance for the 6-Month Period (2023):
  • HK Dividend ETF: 1.71%
  • CSI HK Dividend Index: 2.76%
• Performance for the 3-Month Period (2023):
  • HK Dividend ETF: -0.72%
  • CSI HK Dividend Index: -0.73%
• Performance for the 1-Month Period (2023):
  • HK Dividend ETF: 2.33%
  • CSI HK Dividend Index: 2.40%

Dividend Distribution History (Ex-Date)

• 29 Jun 2012: HKD 0.27
• 14 Dec 2012: HKD 0.28
• 28 Jun 2013: HKD 0.32
• 13 Dec 2013: HKD 0.34
• 27 Jun 2014: HKD 0.34
• 12 Dec 2014: HKD 0.48
• 26 Jun 2015: HKD 0.19
• 11 Dec 2015: HKD 0.52
• 24 Jun 2016: HKD 0.21
• 9 Dec 2016: HKD 0.52
• 30 Jun 2017: HKD 0.25
• 8 Dec 2017: HKD 0.50
• 22 Jun 2018: HKD 0.38
• 14 Dec 2018: HKD 0.96
• 27 Jun 2019: HKD 0.43
• 13 Dec 2019: HKD 0.82
• 29 Jun 2020: HKD 0.20
• 11 Dec 2020: HKD 0.82
• 29 Jun 2021: HKD 0.62
• 23 Dec 2021: HKD 0.83
• 29 Jun 2022: HKD 0.75
• 23 Dec 2022: HKD 1.10
• 29 Jun 2023: HKD 0.36
• 22 Dec 2023: HKD 1.31

Management and Administration

• Manager: Ping An of China Asset Management (Hong Kong) Company Limited
• Trustee: HSBC Institutional Trust Services (Asia) Limited
• Listing Agent: Altus Capital Limited
• Service/Conversion Agent: HK Conversion Agency Services Limited
• Legal Adviser: Simmons & Simmons
• Auditor: PricewaterhouseCoopers

Key Audit Matters

• The auditor focused on the existence and valuation of financial assets at fair value through profit or loss, which constituted the main portion of the Sub-Fund's net assets.
• The auditor confirmed that the financial statements were prepared in accordance with IFRS Accounting Standards and that there were no material exceptions found during the audit process.

Financial Statements Overview

Statement of Financial Position (As at 31 December 2023)

• Total Assets: HK$809,299,364
• Total Liabilities: HK$1,657,449
• Net Assets Attributable to Unitholders: HK$807,641,915

Statement of Profit or Loss and Other Comprehensive Income

• Profit Before Taxation (2023): HK$107,844,878
• Total Comprehensive Income (2023): HK$101,569,468
• Taxation (2023): HK$6,275,410
• Total Comprehensive Income (2022): HK$26,360,551

Statement of Changes in Net Assets Attributable to Unitholders

• Net Assets at Year End (2023): HK$807,641,915
• Net Assets at Year End (2022): HK$730,667,043
• Net Increase from Unit Transactions (2023): HK$31,412,304
• Units in Issue at Year End (2023): 33,550,000
• Units in Issue at Year Start (2023): 32,290,000

Statement of Cash Flows

• Net Increase in Cash and Cash Equivalents (2023): HK$6,516,978
• Cash and Cash Equivalents at Year End (2023): HK$9,991,806
• Cash and Cash Equivalents at Year Start (2023): HK$3,474,828

Notes and Disclaimer

• The report is available only in English.
• Past performance is not indicative of future performance.
• The index returns do not reflect management fees, transaction costs, or other expenses.
• Investors should not rely on the information contained in this report for investment decisions.
• Units are issued and redeemed at NAV, and the ETF does not publish a bid price.
• The financial statements are an integral part of the report.

Conclusion

The Ping An of China CSI HK Dividend ETF has been operating as a replication fund since its inception in 2012, with a focus on tracking the CSI Hong Kong Dividend Index. The fund has shown varying returns over the years, with a total return of 111.53% since inception as of 31 December 2023. The financial statements have been audited by PricewaterhouseCoopers and are prepared in accordance with IFRS standards, ensuring transparency and accuracy in the fund's financial reporting. The fund continues to operate in compliance with its Trust Deed and is managed by Ping An of China Asset Management (Hong Kong) Company Limited.