基金早班车丨把握港股结构性机遇，公募加速主题基金布局

Group 1: Market Trends - Public funds are increasingly viewing Hong Kong stocks as a core layout direction for year-end investment, with over ten public funds recently applying for thematic funds focused on technology, consumption, and dividends [1] - The A-share market showed mixed performance on December 23, with the Shanghai Composite Index closing at 3919.98 points, up 0.07%, while nearly 3900 stocks in the market declined [1] Group 2: Fund News - On December 23, two new mixed funds were launched, with Ping An Digital Economy Select Mixed A aiming to raise 500 million yuan [2] - The net inflow for A500-related ETFs has exceeded 60 billion yuan in December, indicating strong market demand for this index as a preferred broad-based investment tool [2] - As of December 19, insurance institutions have contributed 109.76 billion yuan to private equity funds, marking a 55.85% increase year-on-year, driven by macroeconomic factors and regulatory encouragement [2] Group 3: Future Outlook - Fund managers from major public funds are optimistic about 2026, expecting a shift from valuation-driven market dynamics to a dual drive of "profitability + valuation" [3] - Key investment themes for the upcoming year include AI technology, innovative pharmaceuticals, and domestic consumption recovery, with a focus on high-dividend defensive stocks and cyclical recovery [3]