Group 1 - The core viewpoint indicates that the liquidity and scale of the CSI 300 ETF have shown significant growth, with a recent trading volume of 318 million yuan and a one-year average daily trading volume of 1.122 billion yuan [2] - The leverage funds are actively investing in the CSI 300 ETF, with the latest financing purchase amount reaching 5.6558 million yuan and the latest financing balance at 1.009 billion yuan [2] - The net value of the CSI 300 ETF has increased by 10.21% over the past six months, with the highest monthly return since inception being 25.64% and an average monthly return of 4.63% [2] Group 2 - As of June 30, 2025, the top ten weighted stocks in the CSI 300 Index include Kweichow Moutai, CATL, Ping An Insurance, and others, collectively accounting for 22.76% of the index [3] - The individual weightings of the top stocks are as follows: Kweichow Moutai at 4.19%, CATL at 3.15%, and Ping An Insurance at 2.83%, among others [5] - Investors without stock accounts can access core A-share assets through the CSI 300 ETF linked fund (160724) for low-position investments [5]

Core Insights - The market is experiencing a strong upward trend, with the offshore RMB showing signs of breaking out against the USD. This is expected to create a bullish mid-term outlook for A-shares, with the Shanghai Composite Index potentially aiming beyond the previous high of 3674 points set on October 8, 2024 [1][4][54] - Short-term fluctuations are anticipated due to profit-taking, but key support levels such as recent short-term gaps and the 20-day moving average are expected to provide stability [1][4][54] Weekly Market Overview - Major indices collectively rose, with the STAR 50 leading the gains. The Shanghai Composite Index, Shanghai 50, and CSI 300 increased by 1.67%, 1.12%, and 1.69% respectively, while the STAR 50 surged by 4.63% [2][12] - The cyclical sector showed strong performance, with coal, steel, non-ferrous metals, building materials, and construction leading the gains, rising by 8.00%, 7.55%, 7.10%, 6.44%, and 6.21% respectively [2][13][53] - Market sentiment improved significantly, with average daily trading volume rising to 1.83 trillion RMB, indicating increased investor activity [2][19] Fund Flow Analysis - The margin trading balance increased significantly to 1.94 trillion RMB, with the proportion of financing purchases rising to 10.56% [2][28] - Stock ETFs saw a net inflow of 4.04 billion RMB, with infrastructure ETFs attracting the most inflow while securities ETFs experienced the largest outflow [2][28] Sector Configuration Recommendations - The report suggests maintaining a balanced allocation strategy of "1+1+X," focusing on large financial institutions (banks and brokerages) alongside sectors like military, computing, media, electronics, and new energy [5][56] - In light of increased market risk appetite, a shift from large banks to smaller banks is recommended to enhance portfolio flexibility [5][56] - Continuous investment in brokerage firms is advised to mitigate upward risks, while switching from high-performing stocks to those near their annual moving averages is suggested [5][56]