The following institutional investment holdings of 600048.SS have been identified
| Date | ETF ISIN/Name | Num Shares | Book value | Derived Price per Share | Comment |
| 2025-12-11 | IE00099GAJC6 (iShares MSCI China A UCITS ETF EUR Hedged (Acc)) | 4,793,996 | CNY 4,364,977 | 0.91  Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00099GAJC6 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00B0M63177 (iShares MSCI EM UCITS ETF USD (Dist) USD) | 543,793 | CNY 495,129 | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00B0M63177 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BD45KH83 (iShares Core MSCI EM IMI UCITS ETF USD (Dist) GBP) | 1,888,107 | CNY 1,719,139 | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BD45KH83 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BFNM3N12 (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Dist)) | 464,300 | CNY 422,749 | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BFNM3N12 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BFNM3P36 (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) GBP) | 464,300 | CNY 422,749  -3.8% | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BFNM3P36 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BHZPJ122 (iShares MSCI EM ESG Enhanced UCITS ETF USD Inc GBP) | 98,300 | CNY 89,503 -3.8% | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BHZPJ122 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BHZPJ239 (iShares MSCI EM ESG Enhanced UCITS ETF USD Acc) | 98,300 | CNY 89,503 | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BHZPJ239 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BJ5JPG56 (iShares MSCI China UCITS ETF USD Acc) | 1,112,700 | CNY 1,013,124 | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BJ5JPG56 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BKM4GZ66 (iShares Core MSCI EM IMI UCITS ETF USD (Acc)) | 1,888,107 | CNY 1,719,139 -3.8% | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BKM4GZ66 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BL977C92 (iShares MSCI China UCITS ETF) | 1,112,700 | CNY 1,013,124 -3.8% | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BL977C92 incorrectly reporting value of holding as CNY actually is reported in USD |
| 2025-12-11 | IE00BQT3WG13 (iShares MSCI China A UCITS USD) | 4,793,996 | CNY 4,364,977 -3.8% | 0.91 Incorrect share price reported. Should be 6.42 not 0.91. May be due to incorrect reporting of currency . Could be EUR or USD instead | IE00BQT3WG13 incorrectly reporting value of holding as CNY actually is reported in USD |
| Total = | 17,258,599 | CNY 15,714,113 |