Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-11-26 22:55Core Viewpoint - The ChiNext 50 Index is expected to benefit from the technology growth theme in 2026, despite a short-term market style shift towards dividend stocks. The index's performance is anticipated to return to a focus on technology growth in the medium term due to the relative earnings growth of "technology and value" not having reversed, and the TMT sector's trading density remaining low [1]. Group 1: Market Trends - The current market style is temporarily rebalancing towards dividend stocks, but the growth potential in technology sectors remains strong [1]. - The ChiNext 50 Index, which has a high proportion of emerging industries, is projected to see a net profit growth rate for 2026-2027 that exceeds the average level of the Wind All A Index [1]. Group 2: Sector Performance - The index's constituent stocks are primarily concentrated in high-growth sectors such as power equipment and biomedicine, indicating a combination of high growth potential and good liquidity [1]. - There are signs of overheating in specific areas such as AI hardware and semiconductor equipment, suggesting a potential shift in market focus towards AI applications and consumer electronics [1]. Group 3: Future Outlook - The performance turning point for technology companies is expected to emerge around 2025-2026, supported by policies aimed at improving corporate profitability in the context of "anti-involution" [1]. - The ChiNext 50 ETF (159375) tracks the ChiNext 50 Index (399673) and has shown a daily fluctuation of up to 20%, reflecting the overall performance of well-known, large-cap, and liquid companies in the ChiNext market [1].