On July 21st and 22nd, the State-owned Assets Supervision and Administration Commission of the State Council convened a seminar for leaders of central state-owned enterprises, reviewing the work of the first half of the year and planning tasks for the second half.
The meeting emphasized that formulating and implementing the "15th Five-Year Plan" for state-owned assets and enterprises, along with further deepening the reform of state-owned assets and enterprises, will serve as the overarching framework to strive for the completion of annual targets and tasks.
Data shows that in the first half of this year, central state-owned enterprises maintained stable and positive operational trends, achieving a total profit of 1.4 trillion yuan.
Fixed asset investment completed increased by 4.5% year-on-year.
Furthermore, while improving the quality of production and operations, the efficiency of scientific and technological innovation has accelerated, and the trend of industrial structure upgrading towards new and superior sectors has become increasingly evident.
For the development and reform work of state-owned assets and enterprises in the second half of the year, this meeting further clarified the key tasks for central state-owned enterprises from six aspects.
These include consolidating the positive economic performance of central enterprises, advancing original innovation and breakthroughs in key core technologies, promoting deep industrial transformation and upgrading, ensuring high-quality implementation of the new round of state-owned assets and enterprise reform plans, preventing and resolving risks in key areas, and enhancing strategic support and guarantee capabilities.
The solid operational fundamentals of central state-owned enterprises, their clear reform and development path, and the continuous release of policy dividends are injecting strong confidence into related A-share market segments, gradually revealing their long-term investment value.
Against this backdrop, the Huatai-PineBridge CSI Central SOEs Dividend ETF (561580), which possesses a relatively scarce strategic positioning advantage, may be entering a favorable window for allocation.
As the first ETF product in the market to focus on a dual-factor strategy combining "dividend + central SOE," its underlying index, the CSI Central SOEs Dividend Index, selects 50 high-quality central state-owned enterprise constituents with excellent dividend yields, stable payouts, sufficient scale, and good liquidity.
It aims to capture the dual value of high dividends from central SOEs and industrial growth, potentially helping investors efficiently grasp the long-term investment value arising from state-owned enterprise reform, industrial upgrading, and dividend distribution.
Wind data shows that since July, funds have begun to position quietly.
As of July 22nd, during the 16 trading days of July, the Huatai-PineBridge CSI Central SOEs Dividend ETF (561580) saw net inflows for 12 trading days, totaling 216 million yuan.
This has boosted its share count and asset value to 2.224 billion shares and 2.688 billion yuan respectively, both setting new historical highs since its inception.
From an asset allocation perspective, the allocation advantages of the Huatai-PineBridge CSI Central SOEs Dividend ETF (561580) may be further amplified currently.
Data indicates that its tracked CSI Central SOEs Dividend Index has a trailing 12-month dividend yield as high as 4.17%.
In the current environment of persistently low interest rates, this could serve as a quality core holding to enhance portfolio returns.
Simultaneously, the current A-share market overall presents a pattern of volatile differentiation, accelerated sector rotation, and intensified market divergence.
With increased volatility in growth sectors, assets characterized by high dividends and low volatility have become an important choice for many funds.
High-quality central SOEs inherently possess core advantages such as stable operations, ample cash flow, and policy support.
Coupled with their potential for dividend distribution, their allocation value may be particularly prominent.
The fund manager of the Huatai-PineBridge CSI Central SOEs Dividend ETF (561580) and its feeder funds (Class A 020466 / Class C 020467), Huatai-PineBridge Fund, has accumulated over 19 years of management experience in the field of dividend-themed index investing.
Its "Dividend Family" is a popular brand for dividend-themed investments in the market, with a latest aggregate size of 62.954 billion yuan, accounting for nearly 30% of the total size of all dividend-themed ETFs in the market.
Among them, the Huatai-PineBridge CSI Dividend ETF (510880) is the first dividend-themed index fund in the A-share market.
As of the end of 2025, it had 416,700 holder accounts, making it the only dividend-themed ETF in the market at the time with over 400,000 holder accounts.
The Huatai-PineBridge CSI Low Volatility Dividend ETF (512890) is the first and currently the only low-volatility dividend-themed ETF in the A-share market exceeding 30 billion yuan in size, with its feeder fund holding over 1.4 million accounts.
The Huatai-PineBridge CSI Central SOEs Dividend ETF (561580) is the first dual-theme ETF focusing on "central SOEs + dividends" in the A-share market.
The Huatai-PineBridge SZSE-HK Connect Dividend ETF (513530) and the Huatai-PineBridge SZSE-HK Connect Low Volatility Dividend ETF (520890) focus on Hong Kong-listed high-dividend assets.
The former employs a QDII structure, offering certain advantages regarding Hong Kong dividend tax, while the latter incorporates a low-volatility factor, potentially enhancing its defensive attributes in the relatively volatile Hong Kong market.
The Huatai-PineBridge CSI Dividend Quality ETF (561630) employs a dual-factor stock selection strategy of "dividend + quality," aiming to screen high-dividend stocks with solid fundamentals and superior profitability, exhibiting a more prominent growth style.
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