没有股票账户的投资者可关注国泰创业板50ETF发起联接A（023371），国泰创业板50ETF发起联接C （023372）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 民生证券指出，证监会年中工作会议强调激发多层次市场活力，将推出深化创业板改革的一揽子举措， 包括在创业板正式启用第三套标准支持优质未盈利创新企业上市。此举有助于提升资本市场包容性，更 好支持成长初期企业融资需求。同时，资本市场回稳向好趋势巩固，交投活跃度持续提升，沪深两市A 股日均成交额同比显著增长，两融余额同比上升，显示市场信心逐步修复。在此过程中，创业板改革措 施的落地将进一步提升市场活力，为成长型企业创造更有利的融资环境。 创业板50ETF国泰（159375）跟踪的是创业板50指数（399673），单日涨跌幅可达20%。该指数从深圳 证券交易所创业板市场中选取规模较大、流 ...

Group 1 - The core viewpoint of the news is that the China Securities Regulatory Commission (CSRC) emphasizes stimulating the vitality of a multi-tiered market and plans to launch a comprehensive set of measures to deepen the reform of the ChiNext board, including the introduction of a third set of standards to support the listing of high-quality, unprofitable innovative enterprises [1] - The policy is expected to enhance the inclusiveness of the capital market, better meet the financing needs of early-stage growth companies, and promote the recovery of investment banks' underwriting business income, particularly benefiting leading institutions deeply involved in the sci-tech innovation sector [1] - The steady implementation of the ChiNext reform measures will further strengthen market confidence in growth sectors and solidify the trend of stabilization and improvement in the capital market [1] Group 2 - The Guotai ChiNext 50 ETF (159375) tracks the ChiNext 50 Index (399673), which can experience daily fluctuations of up to 20%. This index selects 50 securities from the ChiNext board based on market capitalization and liquidity, focusing on emerging industries such as information technology, new energy, financial technology, and pharmaceuticals [1] - The index exhibits significant volatility and elasticity, with a high proportion of weight in the electric equipment and new energy sectors [1] - Investors without stock accounts can consider the Guotai ChiNext 50 ETF Initiator Link C (023372) and Guotai ChiNext 50 ETF Initiator Link A (023371) [1]

国投证券指出，创业板指为代表的低估值大盘成长板块在当前流动性充沛环境下正迎来估值修复机会。 创业板指PE为33.89倍，处于近十年23.82%分位，是主流宽基指数中估值水位最低的方向之一，同时其 Q1利润增速达19%，显著优于全A的3.46%。产业层面，AI算力、创新药、半导体、新能源等新动能行 业相继迎来周期性拐点，为创业板指占优提供支撑。当前市场正处于"新旧动能转换"第二阶段，科技科 创维持占优推荐，创业板指或成为最受益方向。 没有股票账户的投资者可关注国泰创业板50ETF发起联接A（023371），国泰创业板50ETF发起联接C （023372）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 （文章来源：每日经济新闻） 创业板50ETF国泰（159375）跟踪的是创业板50指数（399673），单日涨跌幅可达20%。该指数由深圳 证券交易 ...

Market Performance - The A-share market saw all three major indices rise over 1%, with the Shanghai Composite Index up 1.04%, reaching a new high for the year, and the ChiNext Index rising 3.11% [1] - The total market turnover was 1.64 trillion yuan, an increase of 191.4 billion yuan compared to the previous trading day [1] Reasons for the Rise - Market hotspots were concentrated in finance, military industry, and computer sectors, with more stocks rising than falling. The strong performance of the ChiNext 50 Index was attributed to geopolitical factors, policy support, liquidity recovery, and industry events [5] - Geopolitical developments, particularly the ceasefire agreement between Iran and Israel, reduced market risk aversion and led to a capital influx into high-risk assets, benefiting the technology sector and the ChiNext [6] - The Federal Reserve's recent statements indicated a potential for monetary easing, which may boost market risk appetite and attract foreign capital into emerging markets, particularly benefiting growth sectors like the ChiNext and Sci-Tech Innovation Board [7] Policy and Market Support - Recent guidance from the central bank and six departments emphasized financial support for boosting and expanding consumption, aiming to stabilize economic fundamentals and enhance the flow of medium- to long-term capital into the market [8] - The implementation of monetary policy tools to maintain liquidity and reduce financing costs is expected to promote stable development in the capital market [8] Industry Performance - The brokerage and fintech sectors showed significant performance, with news about stablecoins and regulatory approvals potentially driving valuations higher for leading brokerages [9] - Companies like CATL are benefiting from the accelerated industrialization of solid-state batteries, which are expected to become mainstream in the high-end market by 2030, presenting valuation opportunities for related firms [9] Market Outlook - Short-term focus should be on event catalysts and mid-year earnings reports, with potential for continued strength in the ChiNext if earnings exceed expectations and geopolitical stability is maintained [9] - From a mid- to long-term perspective, sectors like AI, new energy, and pharmaceuticals show clear growth logic, with the ChiNext 50 Index currently trading at a PE-TTM of approximately 31 times, below its historical average, indicating potential for valuation recovery [10]