Core Viewpoint - The announcement by China Securities Index Co., Ltd. on September 24 will introduce 20 new indices to provide diversified performance benchmarks and investment targets for the market [1][2]. Group 1: New Indices Overview - The 20 new indices include the China Securities Global Computing Power Theme Index, China Securities Global Biotechnology Index, China Securities Hu-Shen-Hong Kong Computing Power Theme Index, and various regional AAA credit bond indices [1][2]. - The China Securities Global Computing Power Theme Index and the China Securities Hu-Shen-Hong Kong Computing Power Theme Index will select listed companies involved in data center construction, operation, and related hardware manufacturing to reflect the overall performance of the computing power sector [1]. - The China Securities Global Biotechnology Index will select listed companies in the biotechnology sector from the global market to represent the overall performance of biotechnology securities [1]. Group 2: Regional Credit Bond Indices - The China Securities Western Region AAA Credit Bond Index and the China Securities Chengdu-Chongqing Region AAA Credit Bond Index will select AAA-rated credit bonds issued by enterprises in their respective regions, reflecting the overall performance of credit bonds with corresponding ratings [2]. Group 3: Asset Allocation Indices - The China Securities A500 Exchange 0-7 Year Stock-Bond Constant Proportion Index Series, China Securities Cash Flow Exchange 0-7 Year Stock-Bond Constant Proportion Index Series, and China Securities Dividend Low Volatility Exchange 0-7 Year Stock-Bond Constant Proportion Index Series will include both stock and bond assets [2]. - Each series will adopt a constant proportion for stock-bond asset allocation, providing investors with tools for different stock-bond allocation ratios [2].

Core Viewpoint - The article discusses the significant rise in the performance of equity funds focused on computing power, highlighting a structural bull market where these funds have outperformed traditional sectors like consumer goods and alcohol [1][5]. Group 1: Fund Performance - In August, the top-performing active equity funds saw net value increases exceeding 40%, with some funds like Chang'an Xinrui Technology Pioneer achieving a 48.39% increase [2][3]. - A total of 28 active equity funds recorded over 40% net value growth in August, predominantly those heavily invested in computing power-related stocks [2][4]. - The average net value increase for active equity funds in the first eight months of 2025 reached 26.19%, with 458 funds gaining over 50% and 22 funds doubling their value [5][6]. Group 2: Sector Focus - The computing power sector emerged as the dominant theme in the market, with key stocks like Zhongji Xuchuang and Xinyi Sheng seeing substantial price increases of 63.10% and 88.26%, respectively [4][5]. - The article notes a clear shift in investment focus, with funds moving away from traditional consumer sectors to technology-driven themes such as AI and computing power [5][11]. Group 3: Market Trends and Predictions - Fund managers express optimism about the continued growth of sectors like semiconductors and AI, driven by technological innovation and domestic demand [11][12]. - The computing power industry is entering a phase of intense investment, with significant capital expenditures from major players indicating a robust growth trajectory [11][12]. - The article emphasizes the importance of understanding industry logic and maintaining patience in holdings as the market may experience fluctuations despite a general trend towards technology-led growth [12].