2025-08-13-港交所-华夏Ａ５０_华夏Ａ５０－Ｕ_华夏Ａ５０－Ｒ_2025_半年度未经审核报告页_20页_521kb
报告摘要
ChinaAMC MSCI China A 50 Connect ETF Summary
Core Information
- Fund Name: ChinaAMC MSCI China A 50 Connect ETF
- Series: ChinaAMC Global ETF Series
- Legal Structure: A sub-fund of an umbrella unit trust established under Hong Kong law on 17 September 2015
- Listing: Traded on The Stock Exchange of Hong Kong Limited (SEHK) with three counters:
- RMB: 82839
- HKD: 02839
- USD: 09839
- Investment Objective: To track the performance of the MSCI China A 50 Connect Index
- Investment Strategy: Primarily full replication through direct investment in A-Shares included in the Index via the Stock Connect. If full replication is not feasible, a representative sampling strategy may be used, with a maximum deviation of 4% from the index weightings.
- Reporting Period: 1 January 2025 to 30 June 2025
Key Financial Highlights
Financial Position (As at 30 June 2025)
| Item | RMB (Unaudited) | RMB (Audited, 31 December 2024) |
|---|---|---|
| Total Assets | 133,710,199 | 299,679,824 |
| Total Liabilities | 15,335 | 73,237 |
| Net Assets Attributable to Unitholders | 133,694,864 | 299,606,587 |
| Net Asset Value per Unit | 21.5637 | 21.4005 |
| Units Outstanding | 6,200,000 | 14,000,000 |
Performance (Total Returns)
| Period | The Index | RMB Counter (NAV-to-NAV) | RMB Counter (Market-to-Market) | HKD Counter (NAV-to-NAV) | HKD Counter (Market-to-Market) | USD Counter (NAV-to-NAV) | USD Counter (Market-to-Market) |
|---|---|---|---|---|---|---|---|
| 1-Month | 2.48% | 2.37% | 1.99% | 2.90% | 2.35% | 2.78% | 2.46% |
| 3-Month | 1.54% | 1.45% | 1.13% | 3.76% | 3.25% | 2.82% | 2.53% |
| Since Launch | -18.19% | -19.16% | -19.46% | -27.65% | -28.11% | -28.12% | -28.46% |
Profit and Loss (Unaudited)
| Item | RMB (1 Jan 2025 to 30 Jun 2025) | RMB (1 Jan 2024 to 30 Jun 2024) |
|---|---|---|
| Income | 2,704,394 | 5,302,342 |
| Expenses | (563,741) | (1,056,995) |
| Profit Before Investment Gains/(Losses) and Exchange Differences | 2,140,653 | 4,245,347 |
| Investment (Losses)/Gains and Exchange Differences | (3,682,967) | 18,307,636 |
| (Loss)/Profit Before Tax | (1,542,314) | 22,552,983 |
| Withholding Tax Expense | (214,869) | (403,390) |
| Total (Loss)/Profit and Other Comprehensive Income | (1,757,183) | 22,149,593 |
Cash Flows (Unaudited)
| Item | RMB (1 Jan 2025 to 30 Jun 2025) | RMB (1 Jan 2024 to 30 Jun 2024) |
|---|---|---|
| Cash from/(used in) Operating Activities | 162,518,162 | (19,260,817) |
| Net Cash Flows from/(used in) Operating Activities | 164,453,463 | (19,260,817) |
| Net Cash Flows (used in)/ from Financing Activities | (164,154,540) | 21,655,980 |
| Net Increase in Cash and Cash Equivalents | 298,923 | 2,395,163 |
| Cash and Cash Equivalents at the End of the Period | 1,495,334 | 3,802,369 |
Investment Portfolio (Unaudited)
Holdings (As at 30 June 2025)
| Sector | Company | Holdings | Fair Value RMB | % of Net Assets |
|---|---|---|---|---|
| Communication Services | China United Network | 184,900 | 987,366 | 0.74 |
| Communication Services | Cosco Shipping Holdings Co Ltd | 103,900 | 1,562,656 | 1.17 |
| Communication Services | Focus Media Information Technologies Co Ltd | 86,000 | 627,800 | 0.47 |
| Consumer Cyclical | Midea Group Co Ltd | 35,630 | 2,572,486 | 1.92 |
| Consumer Discretionary | Byd Co Ltd | 18,409 | 6,110,131 | 4.57 |
| Consumer Non-cyclical | Wuliangye Yibin Co Ltd | 17,316 | 2,058,872 | 1.54 |
| Consumer Staples | Beijing-Shanghai High Speed Railway Co Ltd | 402,887 | 2,316,600 | 1.73 |
| Consumer Staples | Foshan Haitian Flav & Food Co Ltd | 20,692 | 805,126 | 0.60 |
| Consumer Staples | Inner Mongolia Yili Industries | 28,469 | 793,716 | 0.59 |
| Consumer Staples | Kweichow Moutai Co Ltd | 5,565 | 7,843,979 | 5.87 |
| Consumer Staples | Luzhou Laojiao Co Ltd | 6,558 | 743,677 | 0.56 |
| Consumer Staples | Muyuan Foodstuff Co Ltd | 24,423 | 1,026,010 | 0.77 |
| Energy | China Petroleum & Chemical | 162,900 | 918,756 | 0.69 |
| Energy | China Shenhua Energy Co | 33,247 | 1,347,833 | 1.01 |
| Energy | Petrochina Co Ltd | 108,600 | 928,530 | 0.69 |
| Energy | Shaanxi Coal Industry Co Ltd | 48,700 | 936,988 | 0.70 |
| Financials | Agricultural Bank of China | 511,600 | 3,008,208 | 2.25 |
| Financials | Bank of China Ltd | 239,000 | 1,343,180 | 1.00 |
| Financials | Bank of Communications Co | 320,670 | 2,565,360 | 1.92 |
| Financials | Bank of Ningbo Co Ltd | 39,739 | 1,087,259 | 0.81 |
| Financials | China Merchants Bank Co Ltd | 123,931 | 5,694,630 | 4.26 |
| Financials | China Merchants Shekou | 62,800 | 550,756 | 0.41 |
| Financials | China Pacific Insurance | 41,200 | 1,545,412 | 1.16 |
| Financials | Citic Securities Co | 73,568 | 2,031,948 | 1.52 |
| Financials | East Money Information Co Ltd | 94,860 | 2,194,112 | 1.64 |
| Financials | Guotai Haitong Securities Co Ltd | 84,900 | 1,626,684 | 1.22 |
| Financials | Ind & Comm Bk of China | 378,070 | 2,869,551 | 2.15 |
| Financials | Industrial Bank Co Ltd | 124,816 | 2,913,205 | 2.18 |
| Financials | Ping An Bank Co Ltd | 116,610 | 1,407,483 | 1.05 |
| Financials | Ping An Insurance Group Co | 64,700 | 3,589,556 | 2.69 |
| Financials | Shanghai Pudong Development Bank | 176,393 | 2,448,335 | 1.83 |
| Health Care | Jiangsu Hengrui Medicine | 84,882 | 4,405,376 | 3.29 |
| Health Care | Shenzhen Mindray Bio-Medical Electronics Co Ltd | 16,136 | 3,626,566 | 2.71 |
| Industrials | China State Construction | 339,040 | 1,956,261 | 1.47 |
| Industrials | Contemporary Amperex Technology Co Ltd | 36,157 | 9,119,518 | 6.82 |
| Industrials | CRRC Corp Ltd | 199,600 | 1,405,184 | 1.05 |
| Industrials | Foxconn Industrial Internet Co Ltd | 191,647 | 4,097,413 | 3.07 |
| Industrials | Nari Technology Development Co Ltd | 65,852 | 1,475,743 | 1.10 |
| Industrials | SF Holding Co Ltd | 39,538 | 1,927,873 | 1.44 |
| Information Technology | Boe Technology Group Co Ltd | 534,900 | 2,134,251 | 1.59 |
| Information Technology | Hygon Information Technology Co Ltd | 33,767 | 4,770,939 | 3.57 |
| Information Technology | Luxshare Precision Industry Co Ltd | 104,919 | 3,639,640 | 2.72 |
| Information Technology | Naura Technology Group Co Ltd | 7,700 | 3,405,017 | 2.55 |
| Materials | Wanhua Chemical Group Co | 67,900 | 3,684,254 | 2.76 |
| Materials | Zijin Mining Group Co Ltd | 445,000 | 8,677,500 | 6.49 |
| Real Estate | Poly Developments & Holdings Group Co Ltd | 82,500 | 668,250 | 0.50 |
| Technology | Cambricon Technologies Corp Ltd | 6,043 | 3,634,865 | 2.72 |
| Utilities | China National Nuclear Power Co Ltd | 136,500 | 1,272,180 | 0.95 |
| Utilities | China Yangtze Power Co Ltd | 162,400 | 4,894,736 | 3.66 |
Total Investments
- At Fair Value: 132,214,861 RMB (98.89% of net assets)
- At Cost: 124,996,147 RMB
Portfolio Movements (Unaudited)
Listed Equities
| Company | Holdings as at 1 Jan 2025 | Additions | Disposals | Holdings as at 30 Jun 2025 |
|---|---|---|---|---|
| Agricultural Bank of China | 1,220,700 | 38,600 | (747,700) | 511,600 |
| Bank of China Ltd | 503,700 | 42,100 | (306,800) | 239,000 |
| Bank of Communications Co | 562,770 | 100,600 | (342,700) | 320,670 |
| Bank of Ningbo Co Ltd | 94,639 | 2,800 | (57,700) | 39,739 |
| Beijing-Shanghai High Speed Railway Co Ltd | 873,887 | 71,400 | (542,400) | 402,887 |
| Boe Technology Group Co Ltd | 1,418,500 | 39,600 | (923,200) | 534,900 |
| Byd Co Ltd | 39,109 | 7,800 | (28,500) | 18,409 |
| Cambricon Technologies Corp Ltd | - | 14,365 | (8,322) | 6,043 |
| China Cssc Holdings Ltd | 79,600 | 2,400 | (82,000) | - |
| China Merchants Bank Co Ltd | 295,831 | 9,700 | (181,600) | 123,931 |
| China Merchants Shekou | 141,900 | 4,000 | (83,100) | 62,800 |
| China National Nuclear Power Co Ltd | 299,100 | 37,000 | (199,600) | 136,500 |
| China Pacific Insurance | 98,200 | 2,800 | (59,800) | 41,200 |
| China Petroleum & Chemical | 384,800 | 10,800 | (232,700) | 162,900 |
| China Shenhua Energy Co | 78,247 | 2,000 | (47,000) | 33,247 |
| China State Construction | 740,440 | 54,900 | (456,300) | 339,040 |
| China United Network | 396,000 | 27,800 | (238,900) | 184,900 |
| China Yangtze Power Co Ltd | 387,500 | 12,500 | (237,600) | 162,400 |
| Citic Securities Co | 175,568 | 5,600 | (107,600) | 73,568 |
| Contemporary Amperex Technology Co Ltd | 78,357 | 6,400 | (48,600) | 36,157 |
| Cosco Shipping Holdings Co Ltd | 227,100 | 18,500 | (141,700) | 103,900 |
| CRRC Corp Ltd | 432,900 | 35,400 | (268,700) | 199,600 |
| East Money Information Co Ltd | 226,360 | 7,200 | (138,700) | 94,860 |
| Focus Media Information Technologies Co Ltd | 179,800 | 14,100 | (107,900) | 86,000 |
| Foshan Haitian Flav & Food Co Ltd | 45,392 | 2,700 | (27,400) | 20,692 |
| Foxconn Industrial Internet Co Ltd | 508,347 | 14,900 | (331,600) | 191,647 |
| Guotai Haitong Securities Co Ltd | - | 192,700 | (107,800) | 84,900 |
| Haier Smart Home Co Ltd | 135,200 | 3,600 | (138,800) | - |
| Hygon Information Technology Co Ltd | 89,211 | 2,400 | (57,844) | 33,767 |
| Ind & Comm Bk of China | 902,070 | 28,600 | (552,600) | 378,070 |
| Industrial Bank Co Ltd | 297,916 | 9,600 | (182,700) | 124,816 |
| Inner Mongolia Yili Industries | 62,369 | 3,500 | (37,400) | 28,469 |
| Jiangsu Hengrui Medicine | 193,782 | 9,400 | (118,300) | 84,882 |
| Kweichow Moutai Co Ltd | 12,265 | 800 | (7,500) | 5,565 |
| Luxshare Precision Industry Co Ltd | 277,319 | 7,600 | (180,000) | 104,919 |
| Luzhou Laojiao Co Ltd | 14,458 | 900 | (8,800) | 6,558 |
| Midea Group Co Ltd | 75,630 | 15,100 | (55,100) | 35,630 |
| Muyuan Foodstuff Co Ltd | 53,523 | 3,300 | (32,400) | 24,423 |
| Nari Technology Development Co Ltd | 142,952 | 11,700 | (88,800) | 65,852 |
| Naura Technology Group Co Ltd | 20,400 | 400 | (13,100) | 7,700 |
| Petrochina Co Ltd | 256,000 | 7,200 | (154,600) | 108,600 |
| Ping An Bank Co Ltd | 278,210 | 8,500 | (170,100) | 116,610 |
| Ping An Insurance Group Co | 154,300 | 4,900 | (94,500) | 64,700 |
| Poly Developments & Holdings Group Co Ltd | 187,500 | 5,200 | (110,200) | 82,500 |
| SF Holding Co Ltd | 85,738 | 7,000 | (53,200) | 39,538 |
| Shaanxi Coal Industry Co Ltd | 115,000 | 3,200 | (69,500) | 48,700 |
| Shanghai Pudong Development Bank | 420,893 | 13,200 | (257,700) | 176,393 |
| Shanxi Xinghuacun Fen Wine | 11,960 | 800 | (7,300) | 5,460 |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd | 36,836 | 1,700 | (22,400) | 16,136 |
| Wanhua Chemical Group Co | - | 3,684,254 | - | 3,684,254 |
Important Notes
- Unaudited: The financial statements and portfolio movements are not audited.
- No Non-Cash Transactions: No non-cash transactions occurred in the period related to the issue or redemption of units.
- Disclaimer: Any opinions expressed in this report reflect the Manager's view and are subject to change. Investors should not rely solely on this report for investment decisions. For more information, refer to the Sub-Fund's prospectus.
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