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Unaudited Semi-Annual Report 2016 HAITONG ETF SERIES – HAITONG CSI300 INDEX

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Unaudited Semi-Annual Report 2016 HAITONG ETF SERIES – HAITONG CSI300 INDEX Unaudited Semi-Annual Report 2016 HAITONG ETF SERIES – HAITONG CSI300 INDEX ETF (A sub-fund of the Haitong ETF series as an umbrella unit trust under Hong Kong law) For the period from 1 January 2016 to 30 June 2016 RESTRICTED HAITONG CSI300 INDEX ETF (A SUB-FUND OF HAITONG ETF SERIES) CONTENTS Pages MANAGEMENT AND ADMINISTRATION 1 - 2 REPORT OF THE MANAGER TO THE UNITHOLDERS 3 STATEMENT OF FINANCIAL POSITION (UNAUDITED) 4 INVESTMENT PORTFOLIO (UNAUDITED) 5 - 12 STATEMENT OF MOVEMENTS IN INVESTMENT PORTFOLIO (UNAUDITED) 13 - 24 PERFORMANCE TABLE (UNAUDITED) 25 DISTRIBUTION DISCLOSURE (UNAUDITED) 26 UNDERLYING INDEX CONSTITUENT STOCKS DISCLOSURE 27 REPORT ON INVESTMENT OVERWEIGHT (UNAUDITED) 28 RESTRICTED HAITONG CSI300 INDEX ETF (A SUB-FUND OF HAITONG ETF SERIES) MANAGEMENT AND ADMINISTRATION Directors of the Manager Manager Lo Wai Ho Hai Tong Asset Management (HK) Limited Zhang Xinjun 22/F, Li Po Chun Chambers Zhang Yibin 189 Des Voeux Road Central Yang Jianxin Hong Kong Poon Mo Yiu (Resigned on 16 February 2016) Trustee and Registrar Auditors HSBC Institutional Trust Services (Asia) Limited Ernst & Young 1 Queen’s Road Central 22/F, CITIC Tower Hong Kong 1 Tim Mei Avenue Central Hong Kong Service Agent Custodian HK Conversion Agency Services Limited The Hongkong and Shanghai Banking 2/F, Infinitus Plaza Corporation Limited 199 Des Voeux Road Central 1 Queen’s Road Central Hong Kong Hong Kong Legal Advisers to the Manager PRC Custodian King & Wood Mallesons HSBC Bank (China) Company Limited 13/F, Gloucester Tower 33/F, HSBC Building Shanghai IFC The Landmark 8 Century Avenue, Pudong 15 Queen’s Road Central Shanghai 200120, China Hong Kong RQFII Holder Haitong International Holdings Limited 22/F, Li Po Chun Chambers 189 Des Voeux Road Central Hong Kong RESTRICTED 1 HAITONG CSI300 INDEX ETF (A SUB-FUND OF HAITONG ETF SERIES) MANAGEMENT AND ADMINISTRATION (continued) Participating Dealers ABN AMRO Clearing Hong Kong Limited KGI Securities (Hong Kong) Limited Level 70, International Commerce Centre, 41/F, Central Plaza, 1 Austin Road West, Kowloon, 18 Harbour Road, Wanchai, Hong Kong Hong Kong China Merchants Securities (HK) Co., Limited Merrill Lynch Far East Limited 48/F, One Exchange Square, Central, 15/F, Citibank Tower, Hong Kong 3 Garden Road, Central, Hong Kong Credit Suisse Securities (Hong Kong) Limited Nomura International (Hong Kong) Limited 6/F, Alexandra House, 30/F, Two International Finance Centre, 18 Chater Road, Central, 8 Finance Street, Central, Hong Kong Hong Kong Goldman Sachs (Asia) Securities Limited (Terminated with effect from 18 February 2016) 68/F Cheung Kong Center, Standard Chartered Bank (Hong Kong) Limited 2 Queen’s Road Central, 32/F, 4-4A Des Veoux Road, Central, Hong Kong Hong Kong Haitong International Securities Company Limited UBS Securities Hong Kong Limited 22/F Li Po Chun Chambers, 42/F, One Exchange Square, 189 Des Voeux Road Central, 8 Connaught Road, Central, Hong Kong Hong Kong The Hongkong and Shanghai Banking Corporation Limited SG Securities (HK) Limited 1 Queen’s Road Central , 38/F, Three Pacific Place, Hong Kong 1 Queen’s Road East, Hong Kong RESTRICTED 2 HAITONG CSI300 INDEX ETF (A SUB-FUND OF HAITONG ETF SERIES) REPORT OF THE MANAGER TO THE UNITHOLDERS Market Review On macroeconomic level, in the first half of 2016, China's economic operation was stable. China's GDP was up 6.7% from a year earlier, laid a good foundation for completing the annual economic goals. The industrial production rose stable, improved profitability, fixed asset investment growth fell back, online retailing was growing rapidly, import and export declined narrowed and general trade proportion raised. In general, the economic structure optimized. In the first half of 2016, the CSI 300 index was down 15.47%, and the valuation was13.4x PE (based on expected earnings of 2016). Portfolio Review In the first half of 2016, Fund’s NAV per unit decreased 15.80%. The annualized tracking error of the fund is 0.757%. Market Outlook In the first half of 2016, the risk of the China’s A-share market’s volatility reduced smoothly. The reducing of the A-share market leverage will help the market to keep stable development. Looking forward to the next period ，Supply side structural reforms will be the most important work of China economy. In addition, cultivating new economic structure, strengthening the new momentum of development, promoting the national economy sustainable and healthy development will be the important work targets to continue to push forward. In general, we hold a positive view on the A share market in the next period of 2016. Hai Tong Asset Management (HK) Limited RESTRICTED 3 HAITONG CSI300 INDEX ETF (A SUB-FUND OF HAITONG ETF SERIES) STATEMENT OF FINANCIAL POSITION (Unaudited) As at 30 June 2016 (Unaudited) (Audited) As at 30 June As at 31 December 2016 2015 RMB RMB ASSETS Financial assets at fair value through profit or loss 252,783,730 376,255,688 Deposit reserve - China Exchange Clearing 380,800 380,800 Prepayments and other receivables 46,784 24,406 Cash and bank balances 2,406,149 3,098,363 ––––––––––– ––––––––––– TOTAL ASSETS 255,617,463 379,759,257 ══════════ ══════════ LIABILITIES Management fee payable 126,980 191,825 Trustee fee payable 40,000 48,156 Other payables and accruals 402,342 565,520 ––––––––––– ––––––––––– TOTAL LIABILITIES 569,322 805,501 ══════════ ══════════ EQUITY Net assets value attributable to unitholders 255,048,141 378,953,756 ══════════ ══════════ TOTAL LIABILITIES AND EQUITY 255,617,463 379,759,257 ══════════ ══════════ Number of units in issue 22,000,000 27,500,000 ══════════ ══════════ Net asset value per unit 11.5931 13.7801 ══════════ ══════════ RESTRICTED 4 HAITONG CSI300 INDEX ETF (A SUB-FUND OF HAITONG ETF SERIES) INVESTMENT PORTFOLIO (Unaudited) As at 30 June 2016 Fair value % of Net Holdings RMB Assets Listed equities China Agricultural Bank of China Ltd 1,137,700 3,640,640 1.43 Aier Eye Hospital Group Co Ltd 11,747 429,118 0.17 Air China Ltd 76,100 514,436 0.20 Aisino Co Ltd 32,934 783,829 0.31 Alpha Group (formerly known as Guangdong Alpha Animation and Culture Co Ltd) 15,398 461,170 0.18 Aluminum Corporation of China Ltd 163,100 614,887 0.24 Angang Steel Co Ltd 54,900 210,267 0.08 Anhui Conch Cement Co Ltd 59,504 865,188 0.34 Anxin Trust Co Ltd 26,300 443,681 0.17 Aurora Optoelectronics Co Ltd 5,400 187,704 0.07 AVIC Aero-Engine Controls Co Ltd 13,600 359,040 0.14 AVIC Aircraft Co Ltd 32,900 647,801 0.25 AVIC Aviation Engine Corporation Plc 22,959 795,529 0.31 AVIC Helicopter Co Ltd 7,000 290,360 0.11 AVIC Investment Holdings Co Ltd 133,200 783,216 0.31 Bank of Beijing Co Ltd 301,698 3,128,608 1.23 Bank of China Ltd 627,200 2,013,312 0.79 Bank of Communications Co Ltd 815,400 4,590,702 1.80 Bank of Nanjing Co Ltd 108,190 1,015,904 0.40 Bank of Ningbo Co Ltd 58,016 857,476 0.34 Baoshan Iron & Steel Co Ltd 147,000 720,300 0.28 BBMG Corporation 37,200 288,300 0.11 Beijing Capital Co Ltd 69,100 268,799 0.11 Beijing Capital Development Co Ltd 26,500 294,680 0.12 Beijing Dabeinong Technology Group Co Ltd 61, 000 491,660 0.19 Beijing Enlight Media Co Ltd 26,160 302,410 0.12 Beijing Gehua CATV Networks Co Ltd 16,512 251,148 0.10 Beijing Jingneng Thermal Power Co Ltd 39,500 169,060 0.07 Beijing Origin Water Technology Co Ltd 46,106 686,057 0.27 Beijing Shiji Information Technology Co Ltd 9,200 242,696 0.09 Beijing Tongrentang Co Ltd 16,319 486,143 0.19 Beijing Ultrapower Software Co Ltd 35,600 378,784 0.15 Beijing Xinwei Telecom Technology Group Co Ltd 34,800 620,832 0.24 Beijing Yanjing Brewery Co Ltd 41,948 318,385 0.12 BlueFocus Communication Group Co Ltd 41,545 403,402 0.16 BOE Technology Group Co Ltd 707,280 1,633,817 0.64 Bohai Financial Investment Holding Co Ltd (formerly known as Bohai Leasing Co Ltd) 62,500 426,250 0.17 BYD Co Ltd 18,406 1,122,950 0.44 RESTRICTED 5 HAITONG CSI300 INDEX ETF (A SUB-FUND OF HAITONG ETF SERIES) INVESTMENT PORTFOLIO (Unaudited) (continued) As at 30 June 2016 Fair value % of Net Holdings RMB Assets Listed equities (continued) China (continued) CECEP Wind Power Corporation Co Ltd 6,200 61,566 0.02 Changjiang Securities Co Ltd 98,748 1,145,477 0.45 China Avionics Systems Co L td 15,644 304,589 0.12 China Baoan Group Co Ltd 45,640 625,268 0.24 China CITIC Bank Corporation Ltd 91,238 517,319 0.20 China Coal Energy Co Ltd 54,493 281,184 0.11 China Communications Construction Co Ltd 45,500 479,115 0.19 China Construction Bank Corporation 223,500 1,061,625 0.42 China COSCO Holdings Co Ltd 109,700 557,276 0.22 China CSSC Holdings Ltd 20,448 455,172 0.18 China Dongfanghong Spacesat Co Ltd 17,601 591,394 0.23 China Eastern Airlines Corporation Ltd 101,000 667,610 0.26 China Everbright Bank Co Ltd 473,900 1,781,864 0.70 China First Heavy Industries Co Ltd 77,800 405,338 0.16 China Fortune Land Development Co Ltd 25,900 631,442 0.25 China Hainan Rubber Industry Group Co Ltd 35,100 196,209 0.08 China International Marine Containers (Group) Co Ltd 22,005 311,811 0.12 China International Travel Service Corporation Ltd 14,022 616,688 0.24 China Life Insurance Co Ltd 49,653 1,033,775 0.40 China Merchants Bank Co Ltd 306,984 5,372,220 2.11 China Merchants Energy Shipping Co Ltd 63,100 295,308 0.12 China Merchants Securities Co Ltd 86,400 1,425,600 0.56 China Merchants Shekou Industrial Zone Co Ltd 69,812 994,821 0.39 China Minsheng Banking Co Ltd 703,538 6,282,594 2.46 China Molybdenum Co Ltd 108,233 449,167 0.18 China National Chemical Engineering Co Ltd 58,800 325,164 0.13 China National Nuclear Power Co Ltd 138,900 948,687 0.37 China Northern
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