
Group 1 - The core viewpoint of the article emphasizes the China Securities Regulatory Commission's (CSRC) mid-year work meeting, which highlights the need to stimulate the vitality of a multi-tiered market and the introduction of a comprehensive package of measures to deepen the reform of the ChiNext board [1] - The formal implementation of the third set of standards on the ChiNext board aims to support high-quality, unprofitable innovative enterprises in going public, enhancing the inclusiveness of the capital market to better meet the financing needs of early-stage growth companies [1] - The steady implementation of new regulations for the Sci-Tech Innovation Board and ChiNext is expected to benefit leading securities firms with rich project reserves, particularly those deeply engaged in the Sci-Tech sector, as the recovery of investment banking revenues is anticipated [1] Group 2 - The active trading environment in the capital market is expected to continue, leading to a sustained trend of performance recovery for securities firms [1] - The Guotai ETF (159375), which tracks the ChiNext 50 Index (399673), can experience daily fluctuations of up to 20%, reflecting the performance of 50 large-cap, liquid companies in the ChiNext market, covering sectors such as information technology and healthcare [1] - The ChiNext 50 Index is designed to represent the overall performance of listed companies on the ChiNext market, characterized by growth style and technological innovation [1]