Group 1 - The new energy vehicle sector has seen an increase, with the New Energy Vehicle ETF (159806) rising over 1.2%, as institutions focus on "anti-involution" opportunities in the automotive industry [1] - According to Shenwan Hongyuan, investment opportunities in the complete vehicle sector over the next two to three months should concentrate on structural changes under the "anti-involution" backdrop, with policies emphasizing "harmony" and "development" [1] - The policy signals aim to curb vicious price competition and encourage quality supply, which may constrain the low-end market that previously relied on low-price strategies, while mid-to-high-end companies capable of creating new demand are expected to benefit [1] Group 2 - The New Energy Vehicle ETF (159806) tracks the CS New Energy Vehicle Index (399976), which is compiled by China Securities Index Co., Ltd., focusing on A-share listed companies in the new energy vehicle industry chain [1] - The index constituents cover key areas such as lithium batteries, motors, electronic controls, and complete vehicle manufacturing, reflecting the overall performance of the new energy vehicle industry [1] - The industry allocation is highly concentrated in the manufacturing sector related to new energy vehicles, with an overall growth-oriented style [1]