According to the Investment Strategy Research Report, at present, important institutional investors have continued to increase their holdings of broad-based products such as the A500ETF, bringing stable incremental capital to the market. Although the large net purchase of the A500 ETF may be affected by the impulse at the end of the quarter, the investment strategy believes that this part of the factor has a relatively limited impact on capital, and the net inflow of financing capital also accelerated after the A500 volume subscription. As the market learning effect intensifies and the market's money-making effect continues to accumulate, capital may be placed ahead of schedule in the “spring agitation” market, and the net inflow of incremental capital is still expected. Furthermore, as the offshore RMB exchange rate continues to appreciate, foreign capital is also expected to gradually return to the Chinese market, and the capital side is expected to improve further. Taken together, the “New Year's Eve+Spring” market is expected to continue to be interpreted. In terms of style, the main line of the market is likely to focus on the blue chip index represented by the Shanghai and Shenzhen 300 and Shanghai Stock Exchange 50; at the industry level, the focus should be on varieties related to procyclical price increases. The products that have increased prices in the past week have mainly focused on the non-ferrous, crude oil, chemical, and new energy industry chains, memory, and some agricultural products. Among them, those that are particularly noteworthy include industrial metals, non-bank finance, and hotel aviation. At the track level, it is recommended to focus on computing power, commercial space, and controlled nuclear fusion.

According to the Investment Strategy Research Report, at present, important institutional investors have continued to increase their holdings of broad-based products such as the A500ETF, bringing stable incremental capital to the market. Although the large net purchase of the A500 ETF may be affected by the impulse at the end of the quarter, the investment strategy believes that this part of the factor has a relatively limited impact on capital, and the net inflow of financing capital also accelerated after the A500 volume subscription. As the market learning effect intensifies and the market's money-making effect continues to accumulate, capital may be placed ahead of schedule in the “spring agitation” market, and the net inflow of incremental capital is still expected. Furthermore, as the offshore RMB exchange rate continues to appreciate, foreign capital is also expected to gradually return to the Chinese market, and the capital side is expected to improve further. Taken together, the “New Year's Eve+Spring” market is expected to continue to be interpreted. In terms of style, the main line of the market is likely to focus on the blue chip index represented by the Shanghai and Shenzhen 300 and Shanghai Stock Exchange 50; at the industry level, the focus should be on varieties related to procyclical price increases. The products that have increased prices in the past week have mainly focused on the non-ferrous, crude oil, chemical, and new energy industry chains, memory, and some agricultural products. Among them, those that are particularly noteworthy include industrial metals, non-bank finance, and hotel aviation. At the track level, it is recommended to focus on computing power, commercial space, and controlled nuclear fusion.