Core Insights - The report emphasizes the construction of strategy portfolios based on industry and thematic ETFs, focusing on industry style continuation and switching perspectives through quantitative analysis [2][3]. - The strategy update indicates a recommendation to hold or adjust positions in various ETFs, reflecting a tactical approach to industry rotation [2][3]. ETF Performance Summary - The report lists several ETFs with their market values, holding status, and dominant sectors, indicating a focus on aerospace, military electronics, semiconductors, and traditional media sectors [3][12]. - The cumulative net return for the strategy from September 22 to September 26, 2025, was approximately -0.12%, with an excess return of -1.14% compared to the CSI 300 ETF [3][12]. - Since October 14, 2024, the cumulative return for the strategy sample outside the main portfolio was about 24.76%, outperforming the CSI 300 ETF by approximately 4.92% [3][4]. Recommended ETF Adjustments - The report suggests adding positions in the Satellite ETF, Central Enterprise Technology ETF, and Central Enterprise Innovation ETF while maintaining positions in the Aerospace ETF, Film and Television ETF, and Steel ETF [3][12]. - The weekly model recommends focusing on sectors such as aerospace equipment, military electronics, and semiconductors for the upcoming week [12].

Core Insights - The report emphasizes a strategy based on sector rotation and thematic ETFs, suggesting a focus on sectors like chemical pharmaceuticals, semiconductors, and aerospace equipment for the upcoming week [2][3]. - The model portfolio has shown a cumulative net return of approximately 3.12% for the period from September 8 to September 12, 2025, outperforming the CSI 300 ETF by about 1.65% [4]. Sector Recommendations - The report recommends increasing holdings in the following ETFs: - Sci-Tech Chip Design ETF - Traditional Chinese Medicine ETF - Biomedicine ETF - Continued holdings are suggested for: - Pharmaceutical ETF - Aerospace ETF - Satellite ETF [3][12]. Performance Tracking - Since October 14, 2024, the strategy has achieved a cumulative return of approximately 25.17%, with an excess return of about 6.13% compared to the CSI 300 ETF [4]. - The average return of the ETF portfolio for the recent week was 3.12%, with a notable excess return of 1.65% over the CSI 300 ETF [13]. ETF Holdings and Signals - The report details specific ETFs and their respective weights, indicating a continued hold or adjustment based on market signals: - Pharmaceutical ETF (58.63% weight) - continue holding - Semiconductor ETF (96.38% weight) - newly added - Aerospace ETF (58.23% weight) - continue holding - Satellite ETF (32.59% weight) - continue holding [12][13]. Market Timing Signals - The timing signals for the ETFs are based on volume and price indicators, with values of 1 indicating bullish signals, 0 neutral, and -1 bearish [4].