主动量化周报：2周建仓期，企稳进行时

• The report discusses the impact of "Guo Jiu Tiao" on micro-cap stocks, indicating that the sentiment suppression has been fully priced in, and trading enthusiasm is expected to recover before the Spring Festival[1][8][9] - The report highlights the potential increase in passive funds for the STAR Market, estimating an incremental inflow of approximately 5.5 billion RMB based on the average scale of recently issued STAR-related funds[2][10] - Consumption and STAR Market are identified as key investment themes for 2025, supported by favorable policies and trading dynamics. Consumption is noted for its low expectations and low institutional holdings, while STAR Market is expected to benefit from high trading enthusiasm and thematic-driven transactions[3][11]