First half wrap-up! Growth sectors rally, with tech leading the charge

In the first half of 2026, China's A-share market exhibited a pattern of multi-faceted convergence, with the technology-driven growth segment standing out notably. According to Bloomberg data, year-to-date (from December 31, 2025, to the close on June 30, 2026),the STAR 50 and ChiNext indices ranked among the top performers across all major broad-based indexes in terms of gains。

According to a June 23 report by China Fund News, against the backdrop of accelerating capital rotation across the entire market,new inflows have poured into broad-based ETFs tracking the ChiNext and STAR Market indices, as well as thematic sectors such as semiconductor equipment and telecommunications。

according to a UBS Group Securities report released in June 2026, current trading crowding in A-share innovation-focused sectors has not yet reached historical highs. Iterative advances in artificial intelligence represent the core long-term driver for the sector’s upward trajectory, while mutual funds’ overweight positions in major tech sectors—including electronics, telecommunications, and computer hardware—remain below historical peaks.

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📌 Bosera STAR 50 Index ETF $Bosera STAR 50 Index ETF (02832.HK)$

Position in core sci-tech innovation industries and track leading technologies

📌 Bosera CSI ChiNext Index Daily Leveraged (2x) Product $Bosera SZSE ChiNext Daily (2x) Leveraged Product (07234.HK)$

Hong Kong-exclusive ChiNext leveraged product*, capturing growth sector opportunities

* Source: Hong Kong Exchange Integrated Fund Platform, data as of June 30, 2026. Leveraged products are high-risk investment instruments and may not be suitable for all investors. These products are not intended for long-term holding; holding periods exceeding one day may result in significant deviations between the product’s actual performance and the leveraged return of the underlying index over the same period. Investors should carefully review the product’s official documentation before investing and fully understand all associated risk factors.

Key Information on the BOCI China ChiNext Index Daily Leveraged (2x) Product:

• Investment involves risk. The value of investments may go up or down. Past performance of a fund is not indicative of its future performance. Investors should refer to the prospectus and product key facts statement for details, including product features and risk factors. Investors should not rely solely on this marketing material when making any investment decision. The Bosera ChiNext Index Daily Leveraged (2x) Product (the “Product”) is part of the Bosera Leveraged and Inverse Series, structured as an umbrella unit trust established under the laws of Hong Kong. Units of the Product (the “Units”) are traded in Hong Kong dollars on the Hong Kong Stock Exchange (“HKEX”), similar to equities. The Product is swap-based and seeks to deliver daily investment results that, before fees and expenses, correspond to approximately twice (2x) the daily performance of the ChiNext Index. The Product is denominated in Hong Kong dollars.

• The Product is a high-risk investment instrument and may not be suitable for all investors. There is no guarantee of repayment of principal. Your investment may suffer significant or total loss.

• The Product employs leverage to achieve daily returns equal to twice (2x) the daily performance of the index. Both gains and losses will be magnified. Risks leading to losses in the Product under certain circumstances—such as during a bear market—could significantly exceed those of non-leveraged funds.

• The Product is not intended to be held for more than one day, as its performance over periods longer than one day is likely to differ significantly from twice (2x) the index’s performance over the same period, both in magnitude and direction (e.g., losses could exceed twice the index’s decline). Compounding effects significantly impact the Product’s performance when the index is volatile. Generally, greater index volatility leads to higher leveraged exposure, which typically adversely affects the Product. Daily rebalancing allows the Product to reflect the index’s performance over time, accounting for daily volatility and compounding effects. Consequently, the Product may lose money over time even if the index rises or remains flat.

• The Product seeks to achieve its desired exposure through swap transactions with various counterparties. The Product is therefore exposed to counterparty risk and settlement risk associated with these swaps. Significant losses may occur if a swap counterparty fails to fulfill its obligations.

• There is no assurance that the Product will be able to rebalance its portfolio daily to meet its investment objective. Market disruptions, regulatory constraints, or extreme market volatility could adversely affect the Product’s ability to rebalance effectively.

• The Product may be subject to tracking error risk. This risk may arise from the investment strategy employed, swap-related costs, market liquidity, and fees and expenses, potentially reducing the correlation between the Product’s performance and twice (2x) the daily performance of the index. The fund manager will monitor and seek to manage these risks to minimize tracking error. However, there is no guarantee that the leveraged performance of the index can be precisely or fully replicated at all times.

• The Product’s price may exhibit higher volatility compared to traditional index exchange-traded funds due to the effects of daily rebalancing and leverage.

• Please note that the above statements on investment risks are not exhaustive. Investors should thoroughly review the relevant documents before making any investment decision.

Key Information on Bosera STAR Market 50 Index ETF:

1. Investing involves risks. Past performance is not indicative of future results. The fund price may rise or fall, and there is no guarantee of principal repayment. Investors should not make investment decisions based solely on the information contained herein and should carefully read the ETF’s relevant prospectus and product summary (including product features and risk factors therein).

2. The Bosera STAR Market 50 Index ETF (the “ETF”) seeks to provide investment returns that closely correspond to the performance of the SSE STAR Market 50 Index (the “Index”) before fees and expenses. The ETF is a physically backed, RMB-denominated exchange-traded fund qualified under the RMB Qualified Foreign Institutional Investor (“RQFII”) program and invests directly in A-shares.

3. The ETF is passively managed; therefore, when the Index declines, the value of the ETF will also decrease. Bosera Fund Management (International) Limited (the “Manager”) will not take any temporary defensive measures to mitigate against adverse market conditions.

4. The Index is a newly launched index. Compared to exchange-traded funds tracking indices with longer track records and larger scales, the sub-fund may be subject to higher risks.

5. The ETF is exposed to concentration risk as it tracks a single region (i.e., China) and focuses on companies engaged in technological innovation, making it more volatile than broadly diversified funds.

6. The Shanghai Stock Exchange STAR Market (the 'STAR Market') is subject to significant price and liquidity volatility, elevated valuations, regulatory differences, delisting risk, and concentration risk.

7. At the launch of the STAR Market, the units of this ETF may not be priced; therefore, even if there are changes in the securities held in the ETF’s portfolio, investors will be unable to purchase or sell units of this ETF on those days. Trading hours on the Hong Kong Exchange differ from those of the STAR Market, which may result in premiums or discounts between the ETF’s trading price and its net asset value (NAV), as the index will not provide quotes when the Hong Kong Exchange is open but the STAR Market is closed. A-shares are subject to daily price limits (circuit breakers for upward and downward movements), whereas units listed on the Hong Kong Exchange are not subject to such restrictions. This discrepancy may further widen the premium or discount of the unit price relative to its NAV, potentially impairing the ETF’s ability to track the index.

8. If the cross-counter unit conversion facility between the RMB counter and the HKD counter is suspended, unitholders will only be able to trade their units on the relevant counter on the Hong Kong Exchange. Due to various factors, the market price of RMB-denominated units traded on the Hong Kong Exchange may differ significantly from that of HKD-denominated units. Key factors contributing to such discrepancies include market liquidity on each counter, supply and demand dynamics for each counter, and the exchange rate between RMB and HKD (both onshore and offshore).

9. The trading price of Units on the Hong Kong Stock Exchange is driven by market forces such as supply and demand, and thus may trade at a significant premium or discount to the net asset value.

10. The investment risks and product information listed above are not exhaustive. Investors should carefully read the ETF’s prospectus and product key facts statement before making any investment decision to obtain further information, including the section on 'Risk Factors.'

Disclaimer:

Investments involve risks. Past performance is not indicative of future results. Please refer to the relevant offering documents for details, including risk factors. This document is issued by Bosera Asset Management (International) Co., Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. This document is not intended for distribution or transmission in any jurisdiction where such distribution or transmission is prohibited.

Index Provider Disclaimer:

The index is commissioned by the Shenzhen Stock Exchange and compiled, maintained, and managed by Shenzhen Securities Information Co., Ltd. ('SZSE Information'). The Index Department of SZSE Information periodically reviews the representativeness of the constituent stocks and determines whether replacements are warranted based on its findings. The index is an asset owned by the Shenzhen Stock Exchange. Both the Shenzhen Stock Exchange and SZSE Information operate independently of the fund manager.

The Bosera China ChiNext Index Daily Leveraged (2x) Product is not in any way endorsed, offered, guaranteed, or promoted by the Shenzhen Stock Exchange, SZSE Information Co., Ltd., or the Hong Kong Exchange. The Shenzhen Stock Exchange, SZSE Information Co., Ltd., or the Hong Kong Exchange make no express or implied warranties or representations regarding the performance of the China ChiNext Index. The China ChiNext Index is calculated by SZSE Information Co., Ltd. or its agent, which will take all necessary measures to ensure the accuracy of the China ChiNext Index. However, the Shenzhen Stock Exchange, SZSE Information Co., Ltd., and the Hong Kong Exchange shall not be liable (whether for negligence or otherwise) to any person for any errors in the China ChiNext Index, nor shall they have any obligation to provide advice to any person regarding any such errors. The China ChiNext Index is owned by the Shenzhen Stock Exchange.

The SSE STAR Market 50 Index (the 'Target Index') is administered by China Securities Index Co., Ltd. ('CSI'), commissioned by the Shanghai Stock Exchange, and is owned by the Shanghai Stock Exchange. Neither the Shanghai Stock Exchange and/or CSI makes any express or implied warranty regarding the timeliness, accuracy, completeness, or fitness for a particular purpose of the Target Index, and neither assumes liability (whether for negligence or otherwise) to any person for any delays, omissions, or errors in the Target Index. Neither the Shanghai Stock Exchange and/or CSI endorses, guarantees, offers, or promotes any fund tracking the Target Index, and neither assumes any liability in connection therewith.

This material is the copyright of Bosera Funds (International) Limited. No person may publish or reproduce any part of this material in any form, or make any deletions or modifications that distort its original meaning, without the prior written authorization of the Company.

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