Core Viewpoint - The A-share market experienced a significant rally, with the Shanghai Composite Index breaking through 4100 points, marking a 16-day consecutive rise, and total trading volume exceeding 3.1 trillion yuan, a notable increase from the previous trading day [1]. Market Performance - Major A-share indices all closed with "full-body bullish candles" this week: - Shanghai Shenzhen 300 Index rose by 2.8% - CSI A500 Index increased by 4.2% - ChiNext Index gained 3.9% - Shanghai Stock Exchange Sci-Tech Innovation Board 50 Index surged by 9.8% [1][3] - In contrast, the Hong Kong market showed mixed performance, with the Hang Seng China Enterprises Index declining by 1.3% [1]. Sector Performance - Leading sectors in the A-share market included brain-computer interfaces, commercial aerospace, storage chips, and semiconductors, which saw significant gains [1]. - Conversely, sectors such as Hainan, banking, and airport shipping experienced adjustments [1]. Index Details - The Shanghai Shenzhen 300 Index consists of 300 large-cap stocks with good liquidity, covering 11 first-level industries [4]. - The CSI A500 Index includes 500 securities from various industries, covering 89 out of 93 third-level industries [4]. - The ChiNext Index is composed of 100 large-cap stocks from the ChiNext board, with a high proportion in strategic emerging industries [4]. - The Shanghai Stock Exchange Sci-Tech Innovation Board 50 Index features 50 stocks with significant liquidity, prominently in "hard technology" sectors like semiconductors [4]. - The Hang Seng China Enterprises Index includes 50 large-cap stocks from mainland China listed in Hong Kong, covering a wide range of industries [4]. Valuation Metrics - As of January 9, 2026, the rolling price-to-earnings (P/E) ratios for major indices are as follows: - Shanghai Shenzhen 300 Index: 14.3 times - CSI A500 Index: 17.3 times - ChiNext Index: 42.2 times - Shanghai Stock Exchange Sci-Tech Innovation Board 50 Index: 173.1 times - Hang Seng China Enterprises Index: 10.5 times [3][5].

Group 1 - The ChiNext Mid-Cap 200 Index rose by 1.1%, while the ChiNext Index and the ChiNext Growth Index fell by 0.8% and 1.1% respectively, indicating mixed performance in the market [1] - The E Fund ChiNext ETF (159915) saw a net subscription of over 300 million units throughout the day, reflecting strong investor interest [1] Group 2 - Guangzhou has released a plan titled "Guangzhou Accelerates the Construction of a Strong Advanced Manufacturing City (2024-2035)", which aims to accelerate the cultivation of five strategic leading industries: artificial intelligence, semiconductors and integrated circuits, new energy and new energy storage, low-altitude economy and aerospace, and biomanufacturing [1] - The plan also outlines a forward-looking layout for six future industries, focusing on embodied intelligence, intelligent unmanned systems, and cutting-edge new materials, with the goal of creating a number of pilot application scenarios to drive the rapid maturation and application of cutting-edge technologies and products [1] - The target is to achieve exponential growth in industry scale within 5 to 10 years [1]

Group 1 - The ChiNext Mid-Cap 200 Index rose by 3.1%, while both the ChiNext Index and the ChiNext Growth Index increased by 2.9% [1] - The total trading volume of the E Fund ChiNext ETF (159915) reached 3.5 billion yuan [1] - According to Zhongtai Securities, the current market risk appetite remains high, providing upward space for high-elasticity technology themes [1] Group 2 - The information technology sector accounts for over 40% of the overall performance of representative companies in the ChiNext market [3] - The E Fund ChiNext Growth ETF tracks an index composed of 50 stocks with prominent growth styles, high earnings growth, good profit expectations, and strong liquidity, with the telecommunications, power equipment, electronics, non-bank financials, and pharmaceutical sectors collectively accounting for nearly 80% [3] - The ChiNext Index was launched on June 1, 2010, and the ChiNext Mid-Cap 200 Index will be launched on November 15, 2023 [3]