2023-04-28-港交所-博时科创５０_博时科创５０－Ｒ_截至2022年12月31日止的年报_42页_1mb

Bosera STAR 50 Index ETF Annual Report Summary (Year Ended 31 December 2022)

Core Content Overview

The Bosera STAR 50 Index ETF is a sub-fund of Bosera ETFs, an umbrella unit trust governed by its Trust Deed dated 30 September 2013, as amended. It was listed on the Stock Exchange of Hong Kong on 9 December 2013 under both RMB (82832) and HKD (02832) counters. The ETF aims to track the SSE Science and Technology Innovation Board 50 Index (the "Index") before fees and expenses. The Index is a price return index, meaning it does not reinvest dividends.

Key Information

• Sub-Fund Name: Bosera STAR 50 Index ETF
• Listing Date: 9 December 2013
• RMB Counter: 82832
• HKD Counter: 02832
• Investment Strategy: Full replication strategy
• Investment Objective: Track the performance of the SSE STAR 50 Index before fees and expenses
• Number of Units Outstanding (as of 31 Dec 2022): 1,300,000
• Net Asset Value (NAV) as of 31 Dec 2022: RMB 8,766,924
• NAV Per Unit (as of 31 Dec 2022): RMB 6.74
• Index Performance (2022): Decreased by 31.35%
• ETF NAV Performance (2022): Decreased by 30.52%

Manager and Trustee

• Manager: Bosera Asset Management (International) Co., Limited
• Trustee: HSBC Institutional Trust Services (Asia) Limited
• Custodian: HSBC Bank (China) Company Limited
• Legal Counsel: Simmons & Simmons
• Auditor: PricewaterhouseCoopers
• Investment Adviser: Krane Funds Advisors, LLC
• Custodian: The Hongkong and Shanghai Banking Corporation Limited
• Service Agent: HK Conversion Agency Services Limited
• Participating Dealers: Multiple institutions including ABN AMRO Clearing Hong Kong Limited, BNP Paribas Securities Services, China Merchants Securities (HK) Co., Limited, etc.

Audit and Financial Statements

• The financial statements were prepared in accordance with International Financial Reporting Standards (IFRSs).
• The Independent Auditor's Report confirmed that the financial statements give a true and fair view of the Sub-Fund's financial position and performance for the year ended 31 December 2022.
• Key Audit Matter: Existence and valuation of investments, which represented the principal element of the Sub-Fund's net asset value.
• The audit procedures included:
  • Testing the existence of investments via direct confirmations from custodians.
  • Comparing the Sub-Fund's pricing to external sources.
  • Evaluating the design and operating effectiveness of controls.
• The audit found no material exceptions in its testing.

Financial Highlights

Statement of Financial Position (as of 31 December 2022)

Statement of Comprehensive Income (Year Ended 31 December 2022)

Statement of Changes in Net Assets Attributable to Unitholders

Statement of Cash Flows

Key Points

• The Sub-Fund uses a full replication strategy, with >95% of its NAV invested in physical A-shares of the Index.
• The Sub-Fund's NAV decreased by 30.52% in 2022, closely tracking the 31.35% decrease in the Index.
• The Manager is responsible for:
  • Preparing financial statements in accordance with IFRS.
  • Ensuring the Sub-Fund is managed in line with the Trust Deed.
  • Assessing the going concern basis of accounting.
• The Trustee is responsible for:
  • Ensuring compliance with the Trust Deed.
  • Safeguarding the Sub-Fund's property and rights.
  • Reporting to unitholders if the Manager fails to comply with the Trust Deed.
• The Independent Auditor confirmed the financial statements comply with IFRSs and provided no material exceptions in the audit.

Significant Accounting Policies

• The financial statements are prepared in accordance with IFRSs.
• The Sub-Fund uses the historical cost convention, with revaluation for financial assets at fair value through profit or loss.
• No significant changes in standards or interpretations were applied during the year.
• The Manager has obtained RQFII status from the CSRC and RQFII quota from SAFE, enabling the Sub-Fund to operate under RMB and HKD counters.

Conclusion

The Bosera STAR 50 Index ETF has maintained its full replication strategy in 2022, with the majority of its assets invested in the constituent securities of the SSE STAR 50 Index. The financial statements have been audited by PricewaterhouseCoopers, and the audit found no material misstatements. The ETF's performance closely mirrored that of the Index, with a 30.52% decrease in NAV for the year. The Sub-Fund continues to operate in compliance with its Trust Deed and relevant regulations.