Group 1 - The market style is shifting towards small-cap stocks, with the CSI 2000 ETF (159532) rising over 40% year-to-date [1] - Historically, small-cap stocks tend to experience significant rallies 1-2 weeks after the release of the "Five-Year Plan," suggesting a potential for outperformance compared to large-cap blue chips [1] - The current policy catalyst is likely to direct incremental capital towards small and micro-cap stocks, making it an opportune time for investment [1] Group 2 - The CSI 2000 ETF covers 30 industries, focusing on emerging sectors such as machinery and electronics, which helps to diversify risks associated with single sectors while capturing gains from market rotations [1] - The CSI 2000 ETF (159532) has achieved an information ratio of 3.18 since its inception, significantly higher than the average of similar ETFs (1.4), indicating superior historical performance and tracking efficiency [1] - Guosheng Securities notes that the recent crowding in small-cap stocks has significantly eased, presenting a "strong trend - low crowding" characteristic, which enhances the allocation value [1]

Group 1 - The ChiNext 100 Index rose by 2.3%, the CSI 500 Index increased by 1.6%, the CSI 1000 Index went up by 1.2%, the ChiNext Mid-cap 200 Index gained 1.0%, and the CSI 2000 Index climbed by 0.6% [1] - The CSI 2000 Index focuses on small-cap stocks in the A-share market, characterized by a small and micro-cap style that is capable of quickly absorbing funds, which is expected to drive the rise of small-cap styles due to favorable policies and technological breakthroughs [1] Group 2 - The ChiNext Mid-cap 200 Index consists of 200 stocks with medium market capitalization and good liquidity, reflecting the overall performance of representative companies in the ChiNext market, with the information technology sector accounting for over 40% [7] - The ChiNext Mid-cap 200 Index increased by 1.0% and has a rolling price-to-earnings ratio of 109.3 times since its launch in January 2023 [4][7]

Core Viewpoint - The market shows a positive trend with the 中证2000 index and 创业板中盘200 index both rising by 1.0%, indicating a potential shift towards small-cap stocks following the recent "Five-Year Plan" implementation [1] Group 1: Market Performance - The 中证1000 index increased by 0.5%, while the 科创100 index rose by 0.2%, contrasting with a 0.4% decline in the 中证500 index [1] - Historical analysis suggests that small-cap stocks tend to outperform large-cap stocks in the weeks following the announcement of the "Five-Year Plan" [1] Group 2: Investment Opportunities - The current "十五五" planning period is seen as a catalyst for small-cap market performance, providing opportunities for investors [1] - The 中证2000 index encompasses 30 sectors within the申万一级行业, focusing on emerging sectors such as machinery and electronics, which can effectively capture rotation opportunities and mitigate risks associated with single sectors [1]