新材料50ETF（159761）涨超1.5%，政策与需求双轮驱动景气预期

Core Viewpoint - The New Materials 50 ETF (159761) has risen over 1.5%, driven by both policy and demand, indicating a positive outlook for the sector [1] Group 1: Economic Outlook - In 2026, as the starting year of the "14th Five-Year Plan," China's economy is expected to maintain high-quality growth amid structural optimization [1] - Technological innovation will continue to lead the development of new productive forces [1] Group 2: Metal New Materials - The Federal Reserve's easing expectations and the issue of stagflation in the U.S. support the logic for precious metals, with a positive long-term outlook for gold prices, particularly silver due to its dual financial and industrial attributes [1] Group 3: Chemical Industry - The chemical industry is expected to remain at the bottom of the cycle in FY25, with a market style that combines investment in cyclical recovery and thematic trends [1] - Focus on undervalued leading companies and sectors with marginal improvements in supply and demand [1] Group 4: Construction & Non-metal New Materials - The concentration of leading companies in the construction and non-metal new materials sector is expected to further increase [1] Group 5: Environmental Industry - The environmental industry benefits from "dual carbon" leading policies, with advancements in new energy system construction and the improvement of green value mechanisms [1] - The investment logic is shifting towards a new phase of cash flow improvement, market-oriented reforms, and resonance with growth value [1] Group 6: New Materials Index - The New Materials 50 ETF tracks the New Materials Index (H30597), which focuses on the new materials industry by selecting representative listed companies involved in advanced basic materials, key strategic materials, and cutting-edge new materials [1] - The index emphasizes high-growth and innovative enterprises across various sub-sectors, including chemicals, metals, and electronics [1]