Market Overview - A-shares experienced narrow fluctuations in the first half of the week, followed by a brief rise and subsequent decline, with overall performance remaining stable and trading volume maintaining at over 1 trillion [1] - The three major indices saw a continuous recovery, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rising by 1.13%, 1.42%, and 2.32% respectively [1] - The bond market showed a slight decline but remained at a relatively high level, reflecting a decrease in overall market risk appetite [1] ETF Performance - The average increase of all ETFs was 1.47%, with cross-border ETFs performing particularly well, averaging a rise of 2.23% [1] - AI and innovative pharmaceuticals were the main growth drivers, with top-performing ETFs in these sectors showing significant gains, such as the Huabao ChiNext AI ETF rising by 6.57% [2][3] - Conversely, consumer and automotive ETFs experienced notable declines, with the Greater Bay Area ETF dropping by 2.21% [4][5] Fund Flow Trends - The ETF market saw a net outflow of 24.88 billion, with a notable decrease in market activity [6] - Conservative investment preferences led to significant inflows into bond ETFs, with the Short-term Bond ETF attracting 14.69 billion, making it the top inflow [8] - The Shanghai Corporate Bond ETF recorded a weekly trading volume of 363.50 billion, indicating strong interest in bond funds [10] Upcoming ETF Listings - Four new ETFs are set to launch next week, including the Guotai ChiNext New Energy ETF, which tracks a representative index of the new energy industry [11] - The Invesco CSI 300 Enhanced Strategy ETF aims to provide returns exceeding the index through active management, focusing on high-quality core assets [12]

摘要 创业板新能源指数： 选取50只在创业板上市的、业务涉及新能源或新能源汽车产业的公司作为指数样本，着眼新能源+新能源汽车两大创业板产业反映创业 板新能源产业主题的总体表现。 成分股特征：聚焦新能源产业链，覆盖优质新能源龙头。 基于申万二级行业分类，截至2025年5月9日，重仓行业为电池、光伏设备、自动化设备、风电设 备和金属新材料，指数的前5大行业合计权重为92%。前十大重仓股，持仓相对集中，合计权重为64%。 历史业绩长期跑赢同类新能源指数。 以该指数基日至今作为观察周期，创业板新能源指数实现了11.78%的年化收益，高于中证新能、新能源车等指数，具 备更高的夏普比特征。 指数估值安全边际较高。 根据Wind，截至2025年5月9日，指数的市盈率（TTM）为24.45倍，位于历史44.7%分位；市净率（LF）为3.31倍，位于历史34.9% 分位。 锂电龙头具备稳定盈利能力，审视产业链景气度周期。 锂电龙头具备稳定盈利能力。从2024年来看，新能源汽车产业链利润主要集中于下游电池环节，审 视产业链景气度周期 ，选取加权净资产周转率、速动比率和固定资产周转率（含在建工程）作为筛选行业供需周期阶段的显性财务 ...