Group 1 - A-shares indices showed strong fluctuations, with the ChiNext index rising over 2%, driven by the solar energy and computing power industries, with stocks like Daqo New Energy up over 13% and Sungrow Power up over 10% [1] - The "anti-involution" policy is expected to correct vicious competition and improve the competitive landscape in emerging industries, leading to enhanced profitability and cyclical resilience for leading companies [1][2] - Since June 24, the ChiNext index and technology leaders have outperformed, with sectors such as steel, new energy, building materials, media, communication, and electronics leading the gains [2] Group 2 - The "anti-involution" trend is seen as a key driver for a bull market, as it encourages companies to reduce capital expenditures and eliminate excess capacity, improving economic supply-demand relationships and corporate profitability [2] - AI is identified as a critical force driving the current technological revolution, creating investment opportunities across multiple industries in the A-share market [2] - The Southern ChiNext ETF (159948) closely tracks the ChiNext index, which consists of 100 large-cap, liquid stocks from the ChiNext market [2]

Group 1 - The A-share market experienced fluctuations on June 26, 2025, with the Sci-Tech Innovation Board leading the gains, particularly in the computer and semiconductor sectors, where stocks like Xinyi Sheng and Haiguang Information rose nearly 6% [1] - The China Securities Regulatory Commission (CSRC) announced support for AI and other cutting-edge technology companies to apply the fifth listing standard on the Sci-Tech Innovation Board, enhancing institutional inclusiveness [1] - The reform aims to serve high-quality tech companies with significant breakthroughs, broad commercial prospects, and continuous R&D investment, while also strengthening information disclosure and risk revelation [1] Group 2 - Domestic wafer manufacturers and memory manufacturers are increasingly motivated to procure domestic alternatives to ensure supply chain security and production capacity, benefiting companies in semiconductor equipment, materials, and EDA fields [2] - The Southern AI ETF (159382) closely tracks the AI index of the ChiNext, reflecting the stock price changes of listed companies related to the AI theme [2] - The top ten weighted stocks in the Southern AI ETF include Xinyi Sheng, Zhongji Xuchuang, Softcom Power, and others [2] Group 3 - The Southern Chip ETF (588890) tracks the Shanghai Sci-Tech Innovation Board Chip Index, which selects securities related to semiconductor materials, equipment, design, manufacturing, packaging, and testing [3] - The top ten weighted stocks in the Southern Chip ETF include SMIC, Haiguang Information, and Hanwha Technology [3] Group 4 - The Southern Double Innovation ETF (159780) tracks the CSI Sci-Tech Innovation 50 Index, which selects 50 large-cap emerging industry stocks from the Sci-Tech Innovation Board and ChiNext [3] - The top ten weighted stocks in the Southern Double Innovation ETF include CATL, SMIC, and Mindray Medical [3]