Core Viewpoint - The A-share market indices opened lower on November 14, with the ChiNext index experiencing a decline, while the Shanghai Stock Exchange International Investor Conference has commenced, emphasizing reforms in the Sci-Tech Innovation Board and the ChiNext market [1] Market Performance - Major A-share indices collectively opened lower, with the Sci-Tech Innovation Board 50 index down by 0.8% and the ChiNext index down by 1.4% as of 9:53 AM [1] - The ChiNext ETF (159915) saw a net subscription exceeding 150 million units during the session [1] Policy and Reform Initiatives - The Vice Chairman of the China Securities Regulatory Commission, Li Ming, highlighted the importance of advancing reforms in the two innovation boards and implementing the "1+6" policy measures for the Sci-Tech Innovation Board [1] - There is a focus on promoting the stable operation of the Sci-Tech growth sector and accelerating the implementation of reforms in the ChiNext market [1] Investment Insights - From a medium-term perspective, the market is stabilizing after previous emotional releases, while the long-term view suggests that the Sci-Tech Innovation Board, representing new productive forces and the trend of domestic production, still holds significant investment value [1] - The Sci-Tech Innovation Board 50 index consists of 50 stocks with high market capitalization and liquidity, with over 65% representation from the semiconductor industry [1] - The ChiNext index comprises 100 stocks with high market capitalization and liquidity, with over 90% representation from strategic emerging industries, and a combined weight of approximately 60% from the new energy and AI hardware supply chains [1] Cost Efficiency for Investors - The management fee rates for the Sci-Tech Innovation Board 50 ETF (588080) and the ChiNext ETF (159915) are both set at 0.15% per year, facilitating low-cost investment in the technology growth sector [1]