2022-04-20-港交所-华夏沪深三百_华夏沪深三百－Ｒ_2021_年度报告_66页_1mb

ChinaAMC CSI 300 Index ETF Sub-Fund Annual Report Summary for Year Ended 31 December 2021

Fund Overview
This report covers the ChinaAMC CSI 300 Index ETF, a sub-fund of ChinaAMC ETF Series, established under Hong Kong law. It is a physical exchange-traded fund (ETF) designed to track the CSI 300 Index by investing in A-Shares (Chinese domestic stocks). The RMB-counter commenced trading on 17 July 2012, and the HKD-counter on 26 October 2012, both on the Stock Exchange of Hong Kong (SEHK). The ETF uses a full replication strategy or representative sampling through RQFII and Stock Connect programs to replicate the index's composition and weightings.

Performance Summary
The investment objective is to mirror the CSI 300 Index performance before fees and expenses. For the year ended 31 December 2021:

• RMB counter (Mark-to-Market) total return was 125.30%, while the CSI 300 Index returned 149.33%.
• HKD counter (Mark-to-Market) total return was 136.97%.
• The fund started trading on 17 July 2012 (RMB) and 26 October 2012 (HKD). Average daily trading volume from 1 January 2021 was approximately 3.7 million units, with 328.8 million units outstanding as of 31 December 2021.
  Past performance does not guarantee future results.

Financial Highlights
Audited financial statements show:

• Net assets attributable to unitholders: RMB 16.56 billion as of 30 December 2021, a decrease from RMB 15.73 billion the previous year.
• Total assets: Approximately RMB 16.60 billion, with financial assets at fair value through profit or loss comprising the majority.
• Liabilities: Primarily management, custodian, and trustee fees, totaling RMB 39.6 million.
  Expenses for the year include a management fee (0.70% annual) of RMB 112.2 million. Net loss before tax was RMB 772.2 million.

Investment Details
The fund holds 300 constituent stocks of the CSI 300 Index. Financial assets were primarily listed equity securities in China, valued at fair value. A detailed portfolio and movements are covered in the appendix but not summarized here due to space.

Risk Management
Significant market risks include equity price volatility, influenced by the CSI 300 Index. Interest rate and currency risks are minimal as the fund primarily uses RMB. No substantial credit or liquidity issues were reported.

Key Personnel and Transactions

• Manager: China Asset Management (Hong Kong) Limited.
• Trustee: Cititrust Limited.
• Management fees and other payments were disclosed, with no material related-party transactions found.
• Auditor: Ernst & Young, issued an unqualified opinion for the financial statements.

Important Disclosures
The Manager emphasizes that this report does not constitute investment advice and performance may vary. The prospectus should be reviewed for detailed information.

Summary Notes
Unit holders redeemed 61 million units and subscribed to 10.8 million units during the period. The financial statements reflect a true and fair view, with compliance ensured under regulatory guidelines.