Group 1 - The core viewpoint of the article highlights the significant growth and expansion of the "Kechuang China·Lighthouse Fund" by Penghua Fund, which aligns with the high-quality development of the economy through investments in "hard technology" [1][3] - Since its inception, the STAR Market has positioned itself to promote economic development, with Penghua Fund actively participating by launching multiple ETFs, including the Penghua SSE STAR 50 ETF and the Penghua SSE STAR Comprehensive ETF, achieving a "grand slam" in broad-based investments [1][2] - The Penghua SSE STAR 50 Component ETF and the Penghua STAR 50 Enhanced ETF together form a "dual 50" model, allowing investors to capture both beta returns and pursue excess alpha returns through quantitative research [1][2] Group 2 - The STAR Market companies exhibit significant advantages in sectors such as digital economy, biotechnology, and intelligent manufacturing, serving as a driving force for China's industrial upgrade [2] - The launch of the Penghua SSE STAR Biopharmaceutical ETF and the Penghua SSE STAR Chip ETF reflects timely responses to market trends, enabling investors to capitalize on opportunities in innovative sectors [2] - In the fixed income space, the introduction of the first batch of STAR bond ETFs, including the Penghua SSE AAA Technology Innovation Company Bond ETF, has seen active trading, with a scale exceeding 13.4 billion and an average daily transaction of 9.839 billion [2] Group 3 - The continuous expansion of the "Kechuang China·Lighthouse Fund" not only enriches the product line but also deeply implements the national strategy for technological innovation [3] - Penghua Fund aims to leverage its professional capabilities and forward-looking layout to help investors share in the benefits of technological innovation [3] - The company plans to continue leading industry changes and contribute to the development of China's technology industry through the launch of more innovative products in the future [3]

Core Viewpoint - Technological innovation is the core driving force for high-quality economic development in China, and the capital market plays a crucial role in supporting national strategies and promoting technological innovation and industrial upgrades [1][8]. Group 1: Policy Response - The China Securities Regulatory Commission (CSRC) emphasizes the capital market's role in supporting technological innovation through the implementation of the "Five Major Financial Articles" [2]. - The CSRC's recent reform plan aims to develop various index funds and optimize the registration process for equity funds, aligning with national strategic goals [2]. - Penghua Fund actively responds to these policies by focusing on supporting technological innovation as part of its social responsibility [2][3]. Group 2: Value Discovery - Penghua Fund has established a "Technology Investment Community" and a "Technology Investment Index Matrix" to capture high-growth enterprises and long-term investment value [4]. - The fund has launched various products covering the STAR Market, ChiNext, and the AI industry chain, including the "Lighthouse Fund" series that covers multiple broad-based indices [4][5]. - Specific products like the Penghua STAR 50 Enhanced ETF and the Penghua STAR 100 ETF have been highlighted as significant innovations in the market [4]. Group 3: Ecological Co-builder - As of May 2025, the total size of listed ETFs in China has surpassed 4 trillion, indicating a thriving ETF market [7]. - Penghua Fund collaborates with various institutions to enhance the ETF ecosystem and improve investor experience, including educational initiatives and live broadcasts to engage investors [7]. - The fund continues to promote a virtuous cycle between technology, industry, and finance through various outreach activities [7]. Group 4: Performance Metrics - As of March 31, 2025, Penghua's Hong Kong Technology ETF achieved a net value growth rate of 73.14%, while the Semiconductor ETF saw a growth rate of 45.85% [6]. - Other funds, including the Penghua STAR 50 Enhanced ETF and the Big Data ETF, also reported over 30% net value growth during the same period [6].