工具型产品介绍与分析系列之二十六：流动性延续宽松，小市值或持续占优

• The CSI 2000 Index reflects the overall performance of A-share small and micro-cap listed companies, with a significant small and micro-cap style, superior sales gross margin compared to other small-cap indices, high R&D investment ratio, strong potential growth momentum, and short-term elasticity[2][3][35] - The CSI 2000 Index was officially released on August 11, 2023, with a base date of December 31, 2013, and a base point of 1000[35] - The CSI 2000 Index excludes constituents of the CSI 800 and CSI 1000 indices, and selects 2000 securities with smaller market capitalization and better liquidity as index samples[35] - The CSI 2000 Index has a significant small and micro-cap style, with most constituent stocks having a free float market capitalization of less than 5 billion yuan, accounting for 82.89% of the total weight[37] - The CSI 2000 Index has a strong technology manufacturing attribute, with high holdings in mechanical equipment, electronics, and computer fields[43] - The CSI 2000 Index's overall revenue is stable, with a sales gross margin of 17.62% in Q1 2025, higher than other small-cap indices[51][54] - The CSI 2000 Index's price-to-book ratio is 2.37 times, with a 2025 consensus net profit growth rate of 103.07%[56][57] - The CSI 2000 Index's R&D expenses and their proportion have steadily increased, injecting innovative momentum into performance growth[60][61] - The CSI 2000 Index has outperformed other representative indices in both long and short terms, with a five-year cumulative return of 34.87% and a one-year annualized return of 18.91%[69][72][74]