As of 10:25 on January 14, 2025, the CSI 500 Quality Growth Index (930939) rose 1.15%, the constituent stocks Guosheng Financial Holding (002670) rose 9.97%, Ruijie Network (301165) rose 6.93%, Salubris (002294) rose 4.81%, Zhejiang Dingli (603338), Jingchen (688099) and other stocks followed suit. The 500 Quality Growth ETF (560500) rose 1.02%, and the latest price was 0.89 yuan. (The stocks listed above are constituent stocks of the index and are for illustrative purposes only and are not recommended as individual stocks.) Past holdings do not represent the future investment direction of the fund, nor do they represent specific investment advice, and the investment direction and specific holdings of the fund may change. The market is risky, and investors need to be cautious. )

China Merchants Securities said: Looking forward to 2025, under the tone of "moderate easing", domestic monetary policy and macro liquidity are expected to remain loose, and the pace of interest rate cuts by the external Federal Reserve may slow down but the impact on A-shares may be limited. In the context of the current shortage of medium and high-yield assets, if the money-making effect of the equity market improves in 2025, residents' funds are expected to enter the market through ETFs and their feeder funds, and financing funds are also expected to be repeatedly active. In terms of style, with the development of domestic policies, the economy is expected to gradually enter the early stage of recovery, corporate earnings may stop falling and rebound, and the growth style that benefits from liquidity will gradually return.

The

CSI 500 Quality Growth Index selects 100 securities of listed companies with high profitability, sustainable profits, abundant cash flow and growth from the CSI 500 Index sample as index samples to provide investors with diversified investment targets.

According to the data, as of December 31, 2024, the top ten weighted stocks in the CSI 500 Quality Growth Index (930939) are Crystal Optoelectronics (002273), Dong'e Ejiao (000423), Western Mining (601168), Chifeng Gold (600988), Nine Company (689009), Shenzhou Taiyue (300002), Kaiying Network (002517), Jingchen (688099), and Power Investment Energy (002128) , Anker Innovations (300866), the top ten weighted stocks accounted for 21.61% of the total.

(The stocks listed above are constituent stocks of the index and are for illustrative purposes only and are not recommended as individual stocks.) Past holdings do not represent the future investment direction of the fund, nor do they represent specific investment advice, and the investment direction and specific holdings of the fund may change. The market is risky, and investors need to be cautious. )

500 Quality Growth ETF (560500), OTC Connect (Pengyang CSI 500 Quality Growth ETF Connect A: 007593; Pengyang CSI 500 Quality Growth ETF Connect C: 007594).

Risk Warning: This product is issued and managed by Pengyang Fund Management Co., Ltd., and the sales agency does not assume the responsibility for the investment, redemption and risk management of the product. The fund manager undertakes to manage and use the fund assets in good faith, diligence and responsibility, but does not guarantee that the fund will be profitable, nor does it guarantee a minimum return. Past performance of the Fund is not indicative of its future performance, and the performance of other funds managed by the Company does not constitute an indication or guarantee of the performance of the Fund. Before investing in a fund, investors should carefully read the fund contract, prospectus and fund product key facts statement and other legal documents of the fund, fully understand the risk-return characteristics of the fund product, and make independent decisions on fund investment and choose the appropriate fund product on the basis of understanding the product situation and the suitability opinion of the sales agency. Funds are risky and should be invested with caution.