May 2022 Returns: -3.41% Year to Date Returns: -9.49% Since Inception (9 Sept 2020) Returns: 54.27% Most counters on the list detracted. It has been a bad May as well for the index. But we have to go back to fundamentals on the list and assess them. Especially quite a number of counters have released results / updates in the past month. Powermatic Data - Satisfactory Results TC Auto - Sales down by around 15% but that is expected as the covid lockdown in China has occured. Does not look that bad based on 1st 3 months but i think april/may might be worse based on more lockdown news seen in areas such as Guangdong, Shenzhen. As mentioned previously, kicking the can down the road again before a recovery will occur but the PE is low for the company compared to peers in hkex. KSH - I need some time to read in depth the result. But i have no particular concerns on a minor glance through UMS - Looks ok...