# Hong Kong Dividend Investing Reference

## Key Facts
- **No true monthly dividend stocks in HK** — unlike US (Realty Income O, AGNC), no individual HK stock pays monthly
- Most HK stocks pay **semi-annually** (年报 + 中报), some pay **quarterly**
- To get monthly cash flow, combine stocks with different payment months OR use monthly-dividend ETFs

## Monthly Dividend ETF (Hong Kong)
| ETF | Code | Yield | Freq | Entry Cost |
|---|---|---|---|---|
| 恒生高息股30 ETF | 3466.HK | ~6.8% | Monthly | ~8,200 HKD |
| 富邦沪深港高股息 | 3190.HK | ~6% | Quarterly | ~3,460 HKD |
| GX亚太高股息 | 3116.HK | ~6% | Quarterly | ~3,000 HKD |

**3466** is the only true monthly-dividend HK ETF. Top holdings include 中国宏桥(1378), 裕元(551), 恒隆(101), 伟易达(303), 中远海控(1919).

## Quarterly Dividend HK Stocks (combine for monthly income)
| Stock | Code | Payment Months | Yield |
|---|---|---|---|
| 中电控股 | 0002.HK | 3/6/9/12 | ~4.5% |
| 汇丰控股 | 0005.HK | 4/6/9/12 | ~5% |
| 宏利金融 | 0945.HK | 3/6/9/12 | ~4% |
| 中银香港 | 2388.HK | 5/9/11/末期 | ~5.5% |
| 港通控股 | 0032.HK | 6/7/9/12 | ~3% |

## Entry Price Analysis Methodology
When user asks for entry price for dividend stocks:

1. **Gather data** (use LongPort SDK):
   - Current price, PE, PB, 52-week range
   - TTM dividend yield via `CalcIndex.DividendRatioTtm`
2. **Get dividend history** from 理杏仁 (lixinger.com) or web search:
   - Recent years' per-share dividends
   - Payment schedule (年报/中报 split)
   - Payout ratio trend
3. **Calculate yield at different price levels**:
   - 理想 (ideal): near 52-week low, yield >9%, PB <0.7
   - 合理 (fair): recent support, yield ~8%, PB <0.8
   - 可接受 (acceptable): current price, yield ~7-8%
4. **Cross-reference**: analyst targets (中金/中信/华泰), consensus upside
5. **Risk factors**: cycle risk, payout sustainability, short interest

## DCA Threshold for Dividend Stocks
User's rule: only keep stocks with **≥7% dividend yield**. Below 7% → auto-filter out.
Current DCA portfolio: NLY, HTGC, ARCC (all BDC/REIT, monthly payers).

## Data Sources (ranked by reliability for HK dividends)
1. **LongPort SDK** — real-time yield, PE, PB (use `calc_indexes`)
2. **理杏仁 (lixinger.com)** — best for historical dividend tables, payout rates
3. **英为财情 (investing.com)** — dividend calendar, yield comparison
4. **华盛通 (hstong.com)** — real-time quotes, news flow
5. **券商研报** — target prices, payout forecasts

## Presentation Style (user preference)
- 一句话总结 + 关键数据 + emoji标记
- Card/table format, not wall of text
- 3-tier entry price table (理想/合理/可接受) with yield at each level
- Include risk section but keep it brief (2-3 bullet points)