Venture(US:VEMLY) Xin Lang Cai Jing·2025-12-16 08:42Market Overview - On December 16, the market experienced a day of volatility with all three major indices falling over 1%. The Shanghai Composite Index dropped by 1.11%, while the ChiNext Index fell by 2.10% [1][6] - The ChiNext 50 ETF (159949) declined by 2.14%, closing at 1.463 yuan, with a turnover rate of 8.10% and a trading volume of 2.084 billion yuan, making it the top performer among similar ETFs [1][6] Fund Performance - Despite a cumulative decline of 4.69% over the past five trading days, the ChiNext 50 ETF (159949) has seen continuous net inflows: 180 million yuan over the last five days, 340 million yuan over the last twenty days, and 30.45 million yuan over the last sixty days [2][7] - The ChiNext 50 ETF has achieved a cumulative return of 42.25% over the past three years, outperforming its benchmark and ranking 338th among 1,600 products. Its latest circulating scale is 26.171 billion yuan as of December 15, 2025 [4][9] Investment Outlook - Guotai Junan Securities indicates that a cross-year market rally has begun, suggesting that after a prolonged period of sideways movement, China's "transformation bull" market is set to regain momentum. Expectations for policy adjustments are likely to rise amid a stable yuan, with potential interest rate cuts by the central bank anticipated in early 2026 [3][8] - Shenwan Hongyuan Securities believes that the current market is still in a high-level consolidation phase, with cyclical and value styles expected to dominate in the first half of 2026. The second quarter may enter a bottoming phase, with technology and advanced manufacturing sectors likely to lead the market [4][9]