Last week, the growth style driven by scientific and technological innovation was a standout performer in the market. According to Wind data, ETF products focusing on communications, artificial intelligence, semiconductors, and satellites all posted weekly gains exceeding 5%. In stark contrast, dividend-oriented ETFs fared poorly, with several Hong Kong-listed dividend sector ETFs experiencing declines of over 3%. ETFs centered around coal and free cash flow also demonstrated erratic trends. When it comes to investment directions for 2026, some public fund institutions have highlighted that, as the inaugural year of the '15th Five-Year Plan', the synergy between policies and industries will unlock significant structural opportunities. A thorough analysis suggests that four key investment themes warrant attention: technological innovation and the cultivation of new quality productive forces, the fight against excessive competition ('anti-involution') and the restoration of profitability, consumption recovery and brand globalization, as well as the long-term allocation to gold and strategic resources.