Core Viewpoint - The article discusses the construction of three categories of all-market stock selection combinations and two categories of industry stock selection combinations, focusing on expected marginal improvement, expected risks, and high-quality operations as key investment logic [1][2]. Group 1: All-Market Stock Selection - The three categories of all-market stock selection combinations are designed to identify investment opportunities through multi-dimensional analysis of analyst expectations [2]. - The approach to expected risks involves effectively selecting "high-low wave" assets to respond to a "barbell-type" market [2]. - High-quality operations are emphasized, focusing on industries with upward business cycles and companies with high operational efficiency [2]. Group 2: Industry Stock Selection - In the TMT (Technology, Media, and Telecommunications) sector, the core logic for stock selection is based on an upward growth cycle supported by valuation fundamentals [3]. - For the new energy industry chain, companies with fundamental support and market recognition are selected [3]. Group 3: Multi-Strategy Index Enhancement - The multi-strategy enhancement of the CSI 1000 index is based on historical holdings from the three all-market and two industry stock selection combinations, with monthly rebalancing [4]. - The strategy allocates 80% of the index components according to their weight in the index and 20% based on an internal equal-weight configuration [4]. - Historical performance from October 31, 2014, to February 28, 2025, shows an annualized excess return of 14.6% relative to the CSI 1000 index, with a Sharpe ratio of 2.5 and a maximum drawdown of only 8.3% [4].