一、市场行情回顾 07月25日，A股三大股指小幅下跌，上证指数收跌0.33%，深证成指收跌0.22%，创业板指收跌0.23%。主流宽基指数中，科创50上涨2.07%，涨幅相对居 前。全市场仅2,500余只股票上涨。 科创50 | 证券名称 | 日涨跌幅 | | --- | --- | | 科创20 | 2.07% | | 科创综指 | 1.28% | | 科创100 | 0.61% | | 北证50 | 0.52% | | 中证500 | 0.10% | | 中证1000 | 0.08% | | 深证成指 | -0.22% | | 创业板指 | -0.23% | | 创业板50 | -0.31% | | 上证指数 | -0.33% | | 沪深300 | -0.53% | | 中证A50 | -0.74% | | 数据来源： Wind，日期截至2025-07-25 | | 沪深两市成交额为17873亿元人民币，相较上个交易日小幅缩量。 7月25日，港股主流指数集体收跌。其中，恒生中国央企指数下跌0.07%，跌幅相对较小。 | 证券名称 | 日涨跌幅 | | --- | --- | | 恒生中国央企指数 | - ...

Core Viewpoint - Technological innovation is the core driving force for high-quality economic development in China, and capital markets play a crucial role in supporting national strategies and technological advancements [1] Group 1: Policy Response - The China Securities Regulatory Commission (CSRC) emphasizes the importance of capital markets in serving national strategies, particularly in areas like technology finance and green finance [2] - Penghua Fund actively responds to policy directives by supporting technological innovation as part of its social responsibility and national strategy [2] - The company develops a diverse range of technology-themed index products to provide investors with various investment tools, adhering to principles of value discovery and in-depth fundamental research [2] Group 2: Value Discovery - Penghua Fund aims to capture high-growth enterprises and long-term investment value through its "Technology Investment Community" and a comprehensive index framework covering various technology sectors [3] - The company has launched innovative products like the "Lighthouse Fund" series, which covers major indices and targets specific sub-sectors within the technology space [3] - Specific products include the Penghua Sci-Tech 50 Enhanced ETF (588460) and the Penghua Sci-Tech 100 ETF (588220), which are among the first to participate in significant innovations [3] Group 3: Ecosystem Builder - In 2023, Penghua Fund launched a live broadcast series to engage investors with companies in the Sci-Tech 100 index, enhancing the investment experience [5] - The company continues to promote a positive cycle between technology, industry, and finance through various initiatives and events [6] - As a "policy responder," "value discoverer," and "ecosystem builder," Penghua Fund aligns with national strategies to foster the development of China's technology industry and create long-term value for investors [6]