CSOP to Bring CSOP Huatai-Pinebridge CSI Photovoltaic Industry ETF

HONG KONG–(BUSINESS WIRE)–CSOP Asset Management Limited (CSOP) is proud to announce the listing of CSOP Huatai-Pinebridge CSI Photovoltaic Industry ETF (stock ticker: 3134.HK) on the Hong Kong Stock Exchange (the “HKEX”). As the first pair of ETFs under the HKEX and the Shanghai Stock Exchange (the “SSE”) ETF Cross-Listing Scheme, 3134.HK will track the performance of the CSI Photovoltaic Industry Index (the index), before deduction of fees and expenses, by investing in the Huatai-Pinebridge CSI Photovoltaic Industry ETF1 listed on SSE via the QFI status. With listing price at around HKD 8 per share, trading lot of 100 and management fee of 0.99%, CSOP Huatai-Pinebridge CSI Photovoltaic Industry ETF will start to trade on 1 June, 2021. Upon inception, 3134.HK has received around RMB 53 million initial investment. On the same day, the feeder ETF investing in CSOP’s HKEX listed ETF – CSOP Hang Seng TECH Index ETF (stock ticker: 3033.HK) will also list on the SSE. The feeder ETF has already raised RMB 1.17 billion which will flow to 3033.HK before listing, boosting 3033.HK’s overall size and strengthening its leading status as the largest Hang Seng TECH index ETF in the world.2 Currently 3033.HK has assets under management over HKD 10 billion.3

Clean energy and carbon neutrality define the futures of mankind. China has put the carbon emission reduction into the 14th five-year plan formulation, with ultimate goal of achieving carbon neutrality in the long term.4 To materialize the goal, photovoltaic (PV) is the key solution to clean energy. PV refers to producing electricity from sunlight that can be used to power equipment or to recharge a battery. The whole PV industry chain includes the materials in the upstream, PV cells and modules in the midstream, and PV system in the downstream. PV is one of the high-conviction sectors in China with huge growth potential. In 2020, PV electricity generation increased 16.1% YoY, marking 3.47% of overall electricity generation.5 In 2020, PV electricity cumulative installed capacity reached 253GW, in 2035, PV electricity is expected to reach 600GW, more than doubling in cumulative installed capacity.6 With PV technology evolution, the cost of PV electricity will decrease significantly—hence, PV can become the major electricity source in the future. China is also the leading country in the PV industry regarding semiconductor materials, PV cells and modules, and PV system production.7

Weighted by free-float market capitalization, the CSI Photovoltaic Industry Index comprehensively contains 50 most representative China A-shares companies, capturing the performance of the whole PV industry chain from upstream to downstream. Rebalanced semi-annually, the index invariably ensures the most representative PV-related stock inclusion.8 As the end of 31 March, 2021, the index has market cap of RMB 1.568 trillion and return of 100.84% over the prior 12 months.9

To live smarter, healthier and greener has always been the development theme of human beings. As a leading ETF issuer in Hong Kong, CSOP not only provides ETFs/ETPs satisfying investors’ basic investment demands for asset allocation and trading, but also acts as a pioneer portraying the future of investment. The launch of 3134.HK is one of the strokes CSOP has been making to draw the blueprint of human future.

“Among the future thematic ETFs CSOP launched, CSOP Hang Seng TECH Index ETF (3033.HK) and CSOP Yinhua CSI 5G Communications Theme ETF (3193.HK)10 outline how human can live smarter; CSOP Huatai-Pinebridge CSI Photovoltaic Industry ETF (3134.HK) maps out in which human can live greener; and there will be more CSOP ETFs coming to the market, enabling investors to envisage the future of human beings,” says Melody He, Managing Director, Head of Business Development and Product Strategy & Solutions.

Published on June 1, 2021

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