A few days ago, the "Several Opinions of the State Council on Strengthening Supervision and Preventing Risks and Promoting the High-quality Development of the Capital Market" was released, which is widely known in the industry as the new "National Nine Articles" of the capital market. With strong supervision, risk prevention, and high-quality development as the main line, the new "National Nine Measures" depicts a grand blueprint for the construction of the capital market in the future, and proposes a series of important measures to promote the quality of listed companies, improve investor returns, and enhance the investment value of listed companies.
It is worth mentioning that since the Shanghai Stock Exchange issued the "Initiative on Carrying out the Special Action of "Improving Quality and Efficiency and Valuing Returns" of Shanghai Stock Exchange on March 22, as of April 20, 124 companies on the Science and Technology Innovation Board have released the 2024 action plan of "improving quality, efficiency and return", and formulated specific measures around increasing holdings and repurchases, optimizing operation and management, and strengthening investor communication.
Industry insiders pointed out that the 2024 action plan of "improving quality, efficiency and return" issued by listed companies on the Science and Technology Innovation Board actively echoes the requirements of the new "National Nine Articles" in enhancing investor returns, aiming to take multiple measures to improve the quality and profitability of operations, accelerate the development of new quality productivity, and enhance the company's investment value, which is expected to further enhance investor confidence.
As the backbone of the Science and Technology Innovation Board, the STAR 100 Index focuses on small and medium-sized "hard technology" innovative enterprises, and is an important listed company representing scientific and technological innovation and the development of new quality productivity. If you are optimistic about the investment potential of the STAR 100, you may wish to pay more attention to the Penghua STAR 100 ETF Fund (588220), and OTC investors can also connect with the Penghua SSE STAR 100 ETF (Class A: 019861 Class C: 019862) to deploy new quality productivity with one click.
Penghua Ashares Index is updated weekly
The risk disclosure of promotional materials is as follows
Dear Investors,
Investment is risky and should be cautious. A publicly offered securities investment fund (hereinafter referred to as a "fund") is a long-term investment tool, and its main function is to diversify investments and reduce the individual risks brought about by investing in a single security. Unlike financial instruments such as bank savings that can provide fixed income expectations, when you buy fund products, you may not only share the income generated by the fund's investment according to your holdings, but also bear the losses caused by the fund's investment.
Before you make an investment decision, please carefully read the fund contract, fund prospectus and fund product key facts statement and other product legal documents and this risk disclosure, fully understand the risk-return characteristics and product characteristics of the fund, carefully consider the various risk factors existing in the fund, and fully consider your own risk tolerance according to your own investment objectives, investment period, investment experience, asset status and other factors, and make rational judgment and prudent investment decisions on the basis of understanding the product situation and sales suitability opinions. In accordance with relevant laws and regulations, the fund manager Penghua Fund Management Co., Ltd. and the relevant sales agencies of the fund make the following risk disclosures: 1. According to the different investment objects, the fund is divided into different types such as stock funds, mixed funds, bond funds, money market funds, funds of funds, commodity funds, etc., and you will get different income expectations for investing in different types of funds, and the greater the risks you will bear. 2. The fund may face various risks in the process of investment and operation, including market risks, as well as the fund's own management risks, technical risks and compliance risks. Huge redemption risk is a risk unique to open-end funds, that is, when the net redemption application of a single open-day fund exceeds a certain percentage of the total fund shares (10% for open-end funds, 20% for regular open-ended funds, except for special products specified by the China Securities Regulatory Commission), you may not be able to redeem all the fund shares applied for in a timely manner, or the payment of your redemption may be delayed. 3. You should fully understand the difference between regular fixed investment and lump sum deposit and withdrawal of funds. Regular investment is a simple and easy investment method to guide investors to make long-term investment and average investment costs, but it cannot avoid the inherent risks of fund investment, cannot guarantee investors to obtain returns, and is not an equivalent financial management method to replace savings. IV. Risk Disclosure of Special Types of Products:1. If the product you purchase is a pension target fund, the name of the product "pension" does not represent income protection or any other form of income commitment, and the product is not principal-protected and may cause losses. Please read the specific risk disclosure carefully to confirm the product features. 2. If the product you purchase is a money market fund, the purchase of a money market fund does not mean that the funds are deposited in a bank or depository financial institution as a deposit, and the fund manager does not guarantee that the fund will be profitable, nor does it guarantee a minimum return. Please read the "Risk Disclosure" section of the fund's prospectus carefully to confirm that you understand the specific risks of money market funds. 3. If the product you purchase is a fund of funds, and the product mainly invests in publicly offered securities investment funds, which has similar risk-return characteristics to the underlying fund, if the product adopts an absolute return strategy and adopts a performance benchmark of absolute return, the performance benchmark of the fund is the return target that the fund strives to achieve, and does not mean that the fund will necessarily achieve the performance benchmark return. Please read the specific risk disclosure carefully to confirm the product features. 4. If the product you purchase is a fund managed by the manager, and the fund manager divides the fund assets into two or more asset units, and entrusts two or more third-party asset management institutions to act as investment advisers to provide investment advice for specific asset units, the investment in the product needs to bear the specific risks brought about by the entrusted investment adviser, such as the risk that the investment adviser does not provide investment advice as agreed, and the risk that the investment adviser no longer meets the employment conditions and needs to be changed. Please read the specific risk disclosure carefully to confirm the product features. 5. If the product you purchase is an index fund and the product passively tracks the underlying index, you need to bear the specific risks of indexed investment, including the risk of deviation between the return of the underlying index and the average return of the stock market, the risk of fluctuation of the underlying index, the risk of deviation between the return of the fund portfolio and the return of the underlying index, and the risk of change in the underlying index. If the index fund you buy is an index-enhanced fund, the fund can implement an index-enhanced investment strategy, that is, optimize and adjust on the basis of passively tracking the index, in order to obtain an investment return that exceeds the index, but there is still some uncertainty in the implementation results of the index enhancement strategy, and its investment return may be higher than the index return but may be lower than the index return. If the product you purchase is an exchange-traded index fund, in addition to the specific risks of the above-mentioned index funds, you may also face the risk of discount and premium of the secondary market trading price of fund shares, the risk of incorrect decision-making and IOPV calculation of fund shares, the risk of fund delisting, the risk of failure of investors' subscription and redemption, the risk of realisation of the redemption consideration of fund shares, and the risk of third-party service providers. Please read the "Risk Disclosure" section of the fund's prospectus carefully to confirm that you understand the specific risks of indexed investments. 6. If the products you purchase invest in overseas securities, in addition to the general investment risks such as market fluctuation risks similar to those of domestic securities investment funds, the funds are also subject to special investment risks faced by overseas securities market investments, such as exchange rate risks. If you purchase a product that invests in stocks in the Hong Kong market through the Mainland-Hong Kong Stock Connect ("Southbound Mechanism"), you will also be exposed to the unique risks brought about by the differences in the investment environment, investment targets, market systems and trading rules under the Southbound Mechanism, including the risk of large fluctuations in the stock price of the Hong Kong stock market (the Hong Kong stock market implements T+0 rotation trading and there is no limit on the rise and fall of individual stocks, which may exacerbate the volatility of the stock price), The risks that may be brought about by the inconsistency of trading days under the Hong Kong Stock Connect mechanism (when the mainland market is open and Hong Kong is closed, Hong Kong stocks cannot be traded normally, and Hong Kong stocks cannot be sold in time, which may bring certain liquidity risks). Please read the "Risk Disclosure" section of the fund's prospectus carefully to confirm that you understand the specific risks associated with investing in overseas securities markets. 7. If the product you purchased operates in a regular open mode, or after a period of closed operation, it becomes an open-ended operation, or the fund contract stipulates a minimum holding period for fund shares, and it is not listed for trading during the closed period or minimum holding period, you will face liquidity constraints due to the inability to redeem, convert or sell fund shares during the closed period or minimum holding period. Please read the "Subscription and Redemption of Fund Shares" and "Risk Disclosure" sections of the prospectus carefully to confirm that you understand the liquidity constraints caused by the operation of the fund. 8. If the product you purchased has an automatic termination clause in the fund contract, if the number of fund unit holders is less than 200 or the net asset value of the fund is less than RMB 50 million for several consecutive working days, the fund manager shall terminate the fund contract without holding a large meeting of fund unit holders, and you may face the risk of automatic termination of the fund contract after you purchase the fund. Please read the "Risk Disclosure" section of the prospectus carefully to confirm that you understand the specific risks associated with the automatic termination of the fund contract. 9. If the product you purchased stipulates the terms of suspension of the operation of the fund, that is, when the fund contract is agreed, the fund manager may decide to suspend the operation of the fund, and during the suspension of the operation of the fund, the fund manager and the fund custodian may decide to terminate the fund contract after consultation between the fund manager and the fund custodian, and report to the China Securities Regulatory Commission for filing and announcement, without the need to convene a general meeting of fund unit holders. After you purchase the fund, you may face the risk that the operation of the fund will be suspended until the termination of the fund contract. Please read the "Effectiveness of the Fund Contract" and "Risk Disclosure" sections of the prospectus carefully to confirm that you understand the specific risks of the suspension of the operation of the fund. 10. If the product you purchased is an initiator fund, if the net asset value of the fund is less than RMB200 million on the three-year corresponding date of the effective date of the fund contract, the fund contract will be automatically terminated, so you may face the risk of automatic termination of the fund contract after you purchase the fund. Initiator fund refers to the fund manager using the company's shareholders' funds, the company's inherent funds, the company's senior management personnel or fund managers' funds to subscribe for the fund in an amount of not less than RMB 10 million, and the holding period is not less than three years. Please carefully read the "Effectiveness of Fund Contract" and "Risk Disclosure" sections of the prospectus to confirm that you understand the specific risks of automatic termination of the fund contract. 5. The fund manager undertakes to manage and use the fund assets in good faith, diligence and responsibility, but does not guarantee that the fund will be profitable, nor does it guarantee the minimum return. Past performance of the Fund and its net worth are not indicative of its future performance, and the performance of other funds managed by the Fund Manager does not constitute a guarantee of the performance of the Fund. The fund manager, Penghua Fund Management Co., Ltd., and the relevant sales agencies of the fund remind you of the principle of "buyer's responsibility" in fund investment, and that after making an investment decision, the investment risks caused by changes in the operation status of the fund and the net value of the fund shall be borne by you. Fund managers, fund custodians, fund distribution agencies and related institutions do not make any promises or guarantees for the investment returns of the fund. 6. The Fund shall be applied for and raised by the fund manager in accordance with relevant laws, regulations and agreements, and shall be licensed and registered by the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"). The Fund's fund contract, fund prospectus and fund product key facts statement have been publicly disclosed through the CSRC's Fund Electronic Disclosure Website (http://eid.csrc.gov.cn/fund) and Fund Manager Website (www.phfund.com). The registration of the Fund by the CSRC does not indicate that it has made a substantive judgment or guarantee on the investment value, market prospects and returns of the Fund, nor does it indicate that there is no risk in investing in the Fund.