The first ETF tracking the HKEX Technology 100 Index will list in Hong Kong on June 26, offering one-click exposure to six cutting-edge technology sectors and ushering in a 'new roadmap' for Hong Kong tech investing.

June 18, 2026, Hong Kong — E Fund Asset Management (Hong Kong) Co., Ltd. (“E Fund Hong Kong”) announced today that its first exchange-traded fund (ETF) tracking theHKEX Tech 100 Indexhas received approval from the Securities and Futures Commission of Hong Kong, andwill officially list on the Hong Kong Exchange on June 26, 2026.This index, launched by the Hong Kong Exchange in December 2025, is the first Hang Seng tech-focused index, and this ETF is the first approved product to track it—marking a new phase in investment tools for Hong Kong-listed technology stocks.

1. China’s tech sector is flourishing broadly, with hard tech becoming the central development theme

China’s technology sector is transitioning from 'isolated breakthroughs' to 'broad-based advancement.' 。Chinese technology has achieved systemic breakthroughs across six core sectors—including artificial intelligence, biotechnology, and electric vehicles—demonstrating broad-based progress. The core AI industry has surpassed RMB 1.2 trillion in scale (Source: China Academy of Information and Communications Technology, as of December 2025). The DeepSeek-V3 large model has matched international top-tier performance across multiple benchmarks (Source: DeepSeek official, as of May 2026); in biotechnology, a novel immunotherapy strategy for nasopharyngeal carcinoma has been incorporated into the NCCN global clinical guidelines (Source: NCCN Guidelines, as of April 2026); electric vehicle production and sales have ranked first globally for 11 consecutive years. $BYD COMPANY (01211.HK)$ Topped global all-electric vehicle sales (source: China Association of Automobile Manufacturers, as of January 2026); in information technology, integrated circuit output reached 484.3 billion units (source: National Bureau of Statistics, as of February 2026); in the internet sector, the world’s largest 5G network has been built, with over 138,000 total use cases of '5G + Industrial Internet' (source: Ministry of Industry and Information Technology, as of December 2025); industrial robot installations accounted for 50.6% of the global total, firmly ranking first worldwide (source: International Federation of Robotics, as of June 2026). Progress across these six sectors in parallel marks China's entry into a new phase of systematic technological innovation.

Hard tech has become the core theme of China’s technological development。Hard tech has become the central pillar of China’s technological advancement, with strong policy and capital support across all six sectors. In 2025, artificial intelligence led venture investment with 1,579 financing deals (source: ITJuzi, as of January 2026); biopharmaceutical financing surged 56.17% year-over-year, with capital concentrating on innovative drugs and high-end medical devices (source: Hoshstone, as of May 2026); R&D spending in the electric vehicle industry exceeded RMB 210 billion, accelerating rapid iterations in autonomous driving technology (source: China Association of Automobile Manufacturers, as of March 2026); the entire next-generation information technology supply chain is achieving coordinated breakthroughs, with accelerated domestication of semiconductor equipment; internet companies are rapidly pivoting toward hard tech, and hard-tech firms listed on the STAR Market reported an average R&D intensity of 12.37% (source: Shanghai Stock Exchange, as of April 2026); robotics emerged as the fastest-growing hard-tech segment, with financing soaring by 220% (source: 36Kr, as of May 2026). The intense concentration of capital and R&D resources is propelling China’s tech sector toward deeper and higher-level innovation.

2. Hong Kong Exchange’s first Hang Seng Index—methodology enhancements deliver stronger representativeness and better risk-return profile

The HKEX Tech 100 Index was $HKEX (00388.HK)$ first launched on December 9, 2025, with December 31, 2020 as its base date and a base value of 10,000 points (source: Hong Kong Exchange, December 2025). Through a systematic and rules-based methodology, this broad-based index aims to provide investors with a more comprehensive and representative benchmark for Hong Kong-listed tech equities.

100 constituent stocks covering six frontier tech themes, offering enhanced representativeness.The HKEX Tech 100 Index selects 100 constituent stocks, with the top 10 accounting for approximately 64.1% of total weight and the top 20 for about 76.3% (source: Wind, as of March 27, 2026). The index focuses on six cutting-edge segments: artificial intelligence, biotech and pharmaceuticals, electric vehicles and autonomous driving, information technology, internet, and robotics. Its constituents include not only $TENCENT (00700.HK)$ 、 $XIAOMI-W (01810.HK)$ 、 $BABA-W (09988.HK)$ trillion-market-cap leaders such as $CATL (03750.HK)$ 、 $GANFENGLITHIUM (01772.HK)$ 、 $ZTE (00763.HK)$ as well as leading companies in specialized niches, including $BEONE MEDICINES (06160.HK)$ 、 $INNOVENT BIO (01801.HK)$ leading innovative pharmaceutical companies.

Rigorous fundamental screening, balancing growth and quality. The index requires constituent stocks (excluding companies listed under Chapters 18A and 18C) to have R&D expenses accounting for at least 3% of revenue over the past two fiscal years, or annual revenue growth of no less than 5%. Additionally, the average daily turnover over the past six months must be no less than HK$20 million to ensure investability and exclude illiquid stocks (Source: Hong Kong Exchange, as of March 31, 2026). Furthermore, the index features a fast-track inclusion mechanism: newly added Stock Connect stocks with a closing market capitalization ranking among the top 35 existing constituents can be rapidly included without meeting the minimum six-month listing requirement, enabling timely capture of emerging tech leaders.

High growth potential, capturing tech rebound opportunities.When Hong Kong equities enter a rebound window, the technology sector typically exhibits stronger momentum. According to Bloomberg data, measured in HKD, from four historical rebound start dates—February 5, 2024; August 5, 2024; January 13, 2025; and April 8, 2025—the Hang Seng Tech Index delivered an average gain of 28% over the subsequent three months, outperforming $Hang Seng Index (800000.HK)$ the 18% return of [benchmark]. This demonstrates that during periods of market sentiment recovery and capital rotation into growth sectors, the Hang Seng Tech Index tends to show greater aggressiveness and better captures upside potential from tech-sector rebounds. For investors seeking to enhance portfolio elasticity during Hong Kong equity rebounds, it serves as a more focused tool for accessing tech-driven growth opportunities.

(Note: The above information presents only the historical performance of the underlying index objectively. Past index performance does not indicate future fund returns and should not be construed as investment advice. Investors should be aware of the risks associated with index volatility. Actual fund returns may differ from index performance due to management fees, tracking error, and other factors.)

3. Global AI supply chain wave surges; Hang Seng Tech Index trades at a valuation discount relative to global peers

Amid the AI supply chain boom, the Hang Seng Tech Index trades at a lower valuation compared to global tech indices。The global AI market is projected to reach USD 757.58 billion in 2025, up 18.7% year-over-year. As of May 29, 2026, the Hang Seng Tech Index’s trailing P/E ratio stood at 25.5, representing 71% of $NASDAQ 100 Index (.NDX.US)$ that of [benchmark] $PHLX Semiconductor Index (.SOX.US)$ 55% (Source: Wind). Against the backdrop of accelerated monetization across the entire AI industry chain, the Hong Kong Exchange Tech 100 Index offers both strong representation of the AI industry chain and relatively low valuation levels, making it attractive to investors focused on tech growth and valuation efficiency.

Moreover, the valuation of the Hong Kong tech sector remains relatively low at present. Considering that $Hang Seng TECH Index (800700.HK)$ has a relatively long historical data track record, it is used as a reference for assessing the valuation level of the Hong Kong tech sector. According to Wind data as of May 29, 2026, the Hang Seng Tech Index is currently trading at approximately the 12th percentile of its 5-year valuation range, placing it in a historically low zone. $Korea Composite Index (.KOSPI.KR)$ , the Nasdaq 100 Index, $SSE Science and Technology Innovation Board 50 Index (000688.SH)$and$Chinext Price Index (399006.SZ)$ and others, the Hong Kong tech sector’s valuation remains relatively lower, indicating continued valuation attractiveness compared to major global tech markets.

Product Outlook and Listing Information

$E Fund HKEX Tech 100 ETF (03456.HK)$will officially list on the Hong Kong Exchange on June 26, 2026,with trading denominated in HKD. Investors can trade through major brokerage and banking channels. The launch of this product not only provides a 'new roadmap' for investing in Hong Kong tech stocks but also paves the way for more products tracking the same index series to emerge.

With the index scheduled for its first regular rebalancing since launch in June 2026, its constituent portfolio will be updated according to the index methodology, further enhancing its representativeness and better reflecting the evolving market landscape of the Hong Kong tech sector. For investors seeking exposure to China's new quality productive forces development theme, the June 26 listing undoubtedly marks a key milestone worth watching.

Important Information

The E Fund (Hong Kong) Hong Kong Exchange Tech 100 Index ETF (the “Sub-Fund”) is a sub-fund of the E Fund ETF Trust II, an umbrella unit trust established under the laws of Hong Kong. The Sub-Fund is a passively managed exchange-traded fund falling within the scope of Chapter 8.6 of the Securities and Futures Commission’s (“SFC”) Code on Unit Trusts and Mutual Funds. Units of the Sub-Fund (“Units”) are traded on The Stock Exchange of Hong Kong Limited (“SEHK”) like shares. The investment objective is to provide investment returns that closely correspond to the performance of the Hong Kong Exchange Tech 100 Net Total Return Index (the “Index”), before fees and expenses. To achieve this objective, the Manager will employ either a full replication approach or a representative sampling strategy, as deemed appropriate, to track the Index as closely as possible for the benefit of investors. The Sub-Fund reserves the right to switch discretionarily between full replication and representative sampling without prior notice to investors.

As the index's constituent stocks and the sub-fund’s investments are concentrated in securities of companies primarily engaged in technology-related themes and the biotechnology and pharmaceutical sectors, and include investments in companies whose securities are listed on the Hong Kong Exchange and have substantial business operations in mainland China, the sub-fund is subject to both geographic concentration risk and sector concentration risk, which may result in higher net asset value volatility compared to funds with broader diversification.

The issuer of this content is E Fund Asset Management (Hong Kong) Co., Ltd. This content is for reference only and does not constitute an invitation or recommendation to invest in fund units. This content is for display purposes only and should not be shown to any person for whom such display would be illegal. Investment involves risks, and you may lose a significant portion of your principal. Before investing, investors should carefully read the fund prospectus (including the "Risk Factors" section) to understand the investment risks associated with the fund. This content has not been reviewed by the SFC.

SFC authorization does not constitute a recommendation or endorsement of the scheme, nor does it guarantee the commercial merits, drawbacks, or performance of the scheme. It also does not imply that the scheme is suitable for all investors, or that it has been endorsed as suitable for any particular investor or class of investors.

For detailed important notices and disclaimers regarding the above fund, please visit E Fund (Hong Kong)’s website.

https://www.efunds.com.hk/tc/products/56/info/

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