Group 1 - The A-share Sci-Tech Innovation Board has seen a significant increase, with the Shanghai Sci-Tech Innovation Board Composite Index rising nearly 30% year-to-date as of August 19 [1] - The upward trend in the Sci-Tech Innovation Board is viewed as a positive vote by the capital market on the "Keto valuation" logic, indicating strong market confidence in the "hard technology" sector [1][4] - The current transformation of China's digital economy is moving from a broad "Internet+" phase to a new stage led by artificial intelligence, which is expected to benefit the Sci-Tech Innovation Board [1][5] Group 2 - As of the end of 2024, there are 581 companies listed on the Sci-Tech Innovation Board, with a total market capitalization exceeding 6.34 trillion yuan [2] - The Sci-Tech Innovation Board Composite Index, launched on January 20, 2024, aims to comprehensively reflect the performance of the Sci-Tech Innovation Board ecosystem [2] - The index includes stocks from the Sci-Tech Innovation Board and depositary receipts from red-chip companies, excluding ST and *ST securities, providing a strong representation of the overall development of China's technology innovation industry [2][3] Group 3 - The industry distribution of the Sci-Tech Innovation Board shows a "one strong, many strong" characteristic, with the electronics sector, particularly semiconductors, accounting for approximately 41.1% [3] - The average annual growth rate of R&D expenditure for the index constituents over the past three years is 27%, with projected net profit growth rates of 67.6% and 37.8% for 2024-2026 [3] - The Sci-Tech Innovation Board has demonstrated stronger performance and greater elasticity during market recovery phases, outperforming major broad-based indices and the ChiNext Index [3][6] Group 4 - Since its inception in 2019, the Sci-Tech Innovation Board has been a testing ground for capital market reforms, with various measures introduced to facilitate financing for technology innovation enterprises [4] - The board has seen a significant presence of emerging industries, with over 80% of companies in new generation information technology, biomedicine, and high-end equipment manufacturing [5] - The long-term investment value of the Sci-Tech Innovation Board is becoming more apparent, with opportunities arising from the rise of domestic innovative technologies [5]

Group 1 - The core viewpoint of the articles highlights the strong performance of the technology sector and small-cap stocks in the current market, with the Sci-Tech Innovation Index (科创综指) rising by 13.29% from April 7 to August 8, making it a focal point for market funds [1] - The Sci-Tech Innovation Index covers 97% of the market capitalization of the Sci-Tech Innovation Board and includes a high proportion of strategic emerging industries (86%) and specialized, sophisticated, and innovative companies (42%), indicating its high quality compared to mainstream broad-based indices [1][2] - The index's structure allows for risk diversification across different market capitalizations and helps capture opportunities during market rotations, leading to superior past performance compared to other mainstream indices, particularly during market recovery phases [2] Group 2 - The top ten constituent stocks of the Sci-Tech Innovation Index are primarily in the semiconductor, software development, medical devices, chemical pharmaceuticals, and consumer electronics sectors, representing core leading assets in hard technology [2] - Longcheng Fund has been actively expanding its product line in Sci-Tech investments, recently launching the Longcheng Shanghai Stock Exchange Sci-Tech Innovation Board Comprehensive Index Fund, which reflects the growing interest in this sector [3] - The investment team at Longcheng Fund has developed a "penetrating" research system to identify long-term growth potential in technology stocks, focusing on sustainable growth rather than short-term trends [3][4] Group 3 - The articles emphasize that the current global landscape is undergoing significant changes, with the fourth industrial revolution, represented by technologies like artificial intelligence and quantum computing, reshaping the economic structure, and the Sci-Tech Innovation Board is positioned for favorable medium to long-term investment opportunities [4]

Group 1 - The core viewpoint emphasizes that technology has become a central battleground in global competition, with domestic technological breakthroughs, represented by DeepSeek, leading to a new wave of development in China's tech sector [1] - The launch of the Changcheng Shanghai Stock Exchange Science and Technology Innovation Board Composite Index aims to help investors capitalize on opportunities in technological innovation, tracking the performance of all stocks on the Sci-Tech Innovation Board, excluding ST and *ST securities [1] - As of August 6, 2025, the total number of companies listed on the Sci-Tech Innovation Board is 589, with a total market capitalization of 9.04 trillion yuan, while the index covers 570 stocks with a market cap of 8.72 trillion yuan, reflecting a coverage rate of 97% and 96% respectively [1] Group 2 - The Sci-Tech Innovation Index is characterized by significant innovation-driven features, with 86% of its constituent stocks belonging to strategic emerging industries and 42% classified as "specialized, refined, and innovative small giants," aligning with national development strategies [2] - The index has shown higher elasticity compared to other mainstream A-share indices, with a cumulative increase of 61.53% over the past year, outperforming the Shanghai Composite Index (26.74%), Shenzhen Component Index (32.06%), and ChiNext Index (44.96%) by 34.79%, 29.47%, and 16.57% respectively [2] - The proposed fund manager, Tao Shubin, indicates that the Sci-Tech Innovation Index can comprehensively represent the market performance of the Sci-Tech Innovation Board, which is expected to benefit from policy dividends and attract more quality tech innovation companies for listing [2]

Group 1 - The core viewpoint emphasizes the increasing investment in the technology sector by public funds, particularly in the context of the ongoing strengthening of the narrative around technology in the A-share market [1][2] - As of June 2023, the number of technology-themed funds in the market has risen to around 200, with nearly 100 new funds established in the first half of the year, totaling an initial scale of nearly 70 billion yuan [1] - The launch of the Changcheng SSE Sci-Tech Innovation Board Comprehensive Index Fund in August 2023 reflects the ongoing commitment to providing efficient investment tools for the technology sector [1][3] Group 2 - The long-term investment value of the Sci-Tech Innovation Board is highlighted, with over 589 high-tech enterprises and a total market value exceeding 9 trillion yuan, showcasing its role as a key platform for technological competitiveness in China [2] - Recent policy initiatives, including the "1+6 policy combination," aim to enhance the Sci-Tech Innovation Board's capabilities in supporting technological innovation and the development of new productive forces [2] - The strategic importance of the Sci-Tech Innovation Board is expected to grow, particularly in cutting-edge fields such as artificial intelligence, semiconductors, and biomedicine [2] Group 3 - Changcheng Fund has expanded its product line in the technology investment sector, launching various funds that cater to different investment strategies and market segments [3][4] - The newly issued Changcheng SSE Sci-Tech Innovation Board Comprehensive Index Fund adds to the diverse range of investment options available to investors, allowing for a comprehensive approach to investing in the Sci-Tech Innovation Board [3] - The fund's active management strategy focuses on high-quality listed companies in the Sci-Tech Innovation Board, aiming to capture investment opportunities in the technology innovation space [3][4]

Group 1 - The core viewpoint of the news is that the A-share Sci-Tech Innovation Board is experiencing a significant upward trend, with the Shanghai Sci-Tech Innovation Board Composite Index rising for 13 consecutive days in July, indicating strong market confidence in "hard technology" as a new investment frontier [1][2] - The current digital economy in China is undergoing a transformation, moving from the "Internet Plus" phase to a new stage led by artificial intelligence, which is expected to benefit the Sci-Tech Innovation Board [1][7] - The Longcheng Fund has launched the Longcheng Shanghai Sci-Tech Innovation Board Composite Index Fund, which closely tracks the Sci-Tech Innovation Composite Index, providing a convenient investment channel for investors [1][8] Group 2 - As of the end of 2024, there are 581 companies listed on the Sci-Tech Innovation Board, with a total market capitalization exceeding 6.34 trillion yuan, reflecting the growing demand for indices that represent the overall performance of these companies [2][3] - The industry distribution of the Sci-Tech Innovation Composite Index shows a dominant position of the electronics sector, particularly semiconductors, which account for approximately 41.1%, followed by pharmaceuticals (18.1%) and computers (9.3%) [3] - The average annual growth rate of R&D expenditure for the index constituents over the past three years is 27%, with projected net profit growth rates of 67.6% and 37.8% for 2024-2026, indicating strong growth potential [3][9] Group 3 - The Sci-Tech Innovation Composite Index has demonstrated greater resilience and explosive growth during market recovery phases, outperforming major broad-based indices and reaching new highs in recent bullish trends [3][9] - The Sci-Tech Innovation Board has become a preferred listing venue for "hard technology" companies, with over 80% of its companies in emerging industries such as new generation information technology and biomedicine [7] - The Longcheng Fund emphasizes that the rise of domestic innovative technologies, such as DeepSeek, will lead to a long-term revaluation of Chinese assets, with the technology sector expected to be a key investment theme [7][9]

Core Viewpoint - The A-share market is experiencing a resurgence, particularly in the technology growth sector, driven by supportive policies for technological innovation and increased capital inflow [1][2] Group 1: Market Performance - The ChiNext Composite Index (科创综指) has a high market capitalization coverage of 97%, including various types of securities across 16 first-level and 44 second-level industries, reflecting significant representation of the technology sector [1] - Since its base date on December 31, 2019, the ChiNext Composite Index has achieved a cumulative increase of 32.87%, outperforming major indices like the ChiNext Index (30.06%) and CSI 300 (-0.15%) [2][3] - The index has shown a remarkable rebound of 74.52% since September 24, 2024, indicating strong potential for high-elasticity investors [2] Group 2: Growth Potential - The index focuses on high R&D investment and growth-oriented companies, with 42% of its constituents classified as "little giant" enterprises and 86% from strategic emerging industries [2] - R&D expenses for ChiNext companies are projected to account for 11% of total revenue by the end of 2024, with R&D personnel making up 26% of the workforce, significantly higher than the overall A-share market [2] Group 3: Investment Opportunities - Longcheng Fund is launching the Longcheng SSE Sci-Tech Innovation Board Composite Index Fund on August 13, providing investors with a convenient tool to access the entire industry chain of the Sci-Tech Innovation Board [1] - The fund aims to cater to investors looking to allocate resources into "hardcore assets" within the technology sector, amidst favorable policies and rapid industry development [2]