According to the mid-term investment strategy report, the second phase of the bull market is anticipated to be fueled by robust positive feedback from incremental capital inflows, embodying a virtuous cycle where "capital inflows propel market gains, attracting further capital inflows." Presently, the Shanghai Composite Index has successfully breached the critical resistance level, signaling a transition from losses to gains. The market is progressively exhibiting the beneficial impact of incremental capital inflows. Notable indicators include:

• Consistent net inflows of financing funds, with a pronounced preference for the technology growth sector.
• Inflows into industry-specific and thematic ETFs have emerged as a prominent market trend this year.
• Quantitative private equity funds are experiencing accelerated inflows, potentially enticing high-net-worth individuals to further engage in the market.
• Additionally, northbound funds have maintained a net inflow trend throughout the second quarter.