SDIC Securities pointed out that as a broad-based index, the ChiNext 50 currently has a P/E ratio at the 23.82 percentile over the past decade, significantly lower than the 60%-80% valuation level of mainstream broad-based indices, giving it a relative advantage. From a profitability perspective, its Q1 profit growth reached 19%, notably outperforming the 3.46% growth of the entire A-share market. On the macro level, the slowdown in long-term interest rate declines, coupled with policies such as "anti-involution" driving capacity clearance, has allowed emerging industries like AI computing, innovative drugs, semiconductors, and new energy vehicles to reach cyclical inflection points, creating conditions for the ChiNext 50's valuation recovery. At the industry level, the hard tech, biopharma, and other emerging sectors covered by the index are gradually transitioning to an upward phase amid improving supply-demand dynamics. In the current environment of incremental capital resonance, institutional position replenishment and stock-bond reallocation funds are jointly driving the outperformance of low-valuation large-cap growth styles. As a broad-based product combining valuation safety margins and earnings elasticity, the ChiNext 50's sustained excess returns merit attention.

The ChinaAMC ChiNext 50 ETF (159375) tracks the ChiNext 50 Index (399673), which can fluctuate up to 20% in a single day. The index comprises 50 high-growth innovative companies listed on the Shenzhen Stock Exchange, spanning industries such as information technology, healthcare, and industrials. The ChiNext 50 Index focuses on reflecting the market performance of high-quality companies in China's innovation-driven economy, favoring larger-cap, highly liquid constituents and exhibiting a distinct growth style.

Investors without stock accounts can consider the ChinaAMC ChiNext 50 ETF Link A (023371) and ChinaAMC ChiNext 50 ETF Link C (023372).

Note: Any mentioned stocks are for reference only and do not constitute investment advice. Short-term performance and historical data of indices/funds are for analytical purposes only and do not indicate future performance. Market views are subject to change with market conditions and do not constitute any investment advice or commitment. Indices mentioned are for reference only and do not constitute investment advice or guarantees of fund performance. Please select fund products that match your risk tolerance when investing. Funds carry risks; invest with caution.