Li Shuchao, a reporter from China's ** newspaper, rose more than 4% in the Beijing Stock Exchange 50 Index yesterday, stirring up the performance ranking list of active equity. As of December 25, the net value was updated, and the innovative small and medium-sized enterprises of the China Beijing Stock Exchange were selected to open for two years**, soaring 538%, and the latest yield has reached 49 this year04%, surpassing the champion and runner-up of the previous trading day, and the new top performance list of this year's active equity category. After recent structural changes, the latest yield of Dongfang Regional Development and Soochow Mobile Internet has exceeded 43%, and the value line of Soochow New Trend has also exceeded 40%, which is not far from the income level of the champion, and the remaining four trading days in 2023 will determine the final champion. Industry insiders said that as the market is nearing the end of the whole year of 2023, the "ranking war" of the performance of the public offering of active equity is still stalemate, and the switch of market style at the end of the year and the fluctuation of the Beijing Stock Exchange market will bring variables to the performance ranking of the active equity category. And who will be the "champion**" this year, it is still necessary to observe the performance of the Beijing Stock Exchange market, liquor, technology stocks and other sectors in the last few trading days. 
It rose by more than 5% in a single dayHuaxia's Beijing Stock Exchange ** "won the championship".Yesterday's A**field trend**, the end of the market rose and turned red, and the Beijing Stock Exchange 50 Index rose by more than 4%. The structural changes have also changed the performance ranking of the active equity category. As of December 25, the net value was updated, and the selected innovative small and medium-sized enterprises on the China Beijing Stock Exchange were set to open for two years, up 538%, with a yield of more than 49% since the beginning of this year, winning the first performance championship in the active equity category in one fell swoop. Gu Xinfeng, the manager of the first market, said in a recent interview with China ** Daily that bulls and bears often alternate, and in the long run, in the case that the investor threshold of the Beijing Stock Exchange and the Science and Technology Innovation Board has reached the interchange, the liquidity and valuation levels of the two markets should also be interconnected. He believes that the big investment opportunities on the Beijing Stock Exchange are, on the one hand, the current stock of high-quality companies;On the other hand, more investment opportunities on the Beijing Stock Exchange lie in the increasing number of high-quality incremental companies that will be listed in the future. 
In addition to the theme of the Beijing Stock Exchange under Huaxia**, a number of Beijing Stock Exchange themes have also benefited from the recent surge in the Beijing Stock Exchange market, and there has been a significant increase this year, constantly recovering the decline in the early stage of its establishment. According to the data, as of December 25, this year's GF Beijing Stock Exchange has risen by more than 30% in selected two-year periods, and the theme of the Beijing Stock Exchange under Invesco Great Wall, Wanjia and China Universal has also risen by 20%. The theme of the Beijing Stock Exchange**, which is owned by Southern and China Securities Construction Investment**, also rose by more than 15%. 
In view of the valuation of the Beijing Stock Exchange market after the big rise, Gu Xinfeng said that the Beijing Stock Exchange has a lot of **fast**, the trading volume is rapidly amplified, and the increase is very much. However, at the same time, we can see that the average valuation level of the Beijing Stock Exchange and the Science and Technology Innovation Board are still at a significant discount. Wind data shows that as of the latest**, the current dynamic P/E ratio of the BSE 50 Index is 2761 times, and the Science and Technology Innovation 50 Index was about 45 times in the same period. "Since the investor thresholds of the Beijing Stock Exchange and the Science and Technology Innovation Board are the same, we feel that there may still be a trend of convergence between the two in the future. Gu Xinfeng said. The top three are heavily invested in the Beijing Stock Exchange, liquor, and technology stocksMarket performance or determine the "champion**".Judging from the positions in the third quarter of this year, the innovative small and medium-sized enterprises selected by the China Beijing Stock Exchange for two years are mainly Junchuang Technology, Suzhou Axis Co., Ltd., CommScope Chemical and other optional consumer, industrial, and material fields, and the Beijing Stock Exchange accounts for the vast majority. Gu Xinfeng said in the latest quarterly report that as a theme product of the Beijing Stock Exchange, the main feature is to invest in companies on the Beijing Stock Exchange. In terms of direction, it is mainly to invest in leading companies in subdivided industries that meet the characteristics of specialization, refinement, and innovation in the Beijing Stock Exchange, supplemented by investment in other sectors of A-shares and growth companies in the Hong Kong Stock Connect. In the third quarter of this year, he maintained an overall **80% and made appropriate adjustments. The main reason is that there are many new high-quality companies listed on the Beijing Stock Exchange, and there is more room for choice, and he has carried out a ** for individual performance trends that are not very good in 2023, and at the same time added some auto parts and high-end materials industry leaders. At the same time, considering that the two-year closed period of the product is approaching, it remains in a neutral and conservative position on the whole. On the whole, his position ** is more concentrated, and its quality has also improved significantly with the increase in supply, and he is full of confidence in the subsequent trend. 
The current runner-up** - Oriental Regional Development is mainly heavy on liquor stocks such as Shanxi Fenjiu, Gujing Gongjiu, and Kweichow Moutai. Zhou Siyue, the manager of the **, said in the third quarterly report that due to the high level of the scientific and technological innovation sector represented by artificial intelligence, the pro-cyclical sector is also weak under the disturbance of the complex macro environment at home and abroad, and most of the major A-share indices show a ** trend. In terms of market style, the value sector outperformed the growth sector, with the ** index with low valuation and high dividend yield performing relatively strongly, while the small and mid-cap index fell significantly. Zhou Siyue said that this product implements the idea of defense and has not adjusted the position structure dominated by liquor at the end of the second quarter. Although the technology growth sector has been catalyzed by the technological innovation of domestic technology giants in September, considering the current tense international situation and the complex domestic fundamental and capital environment, any structural opportunities need to balance risk and space, especially the offensive varieties with large elasticity, and further observation and confirmation should be a more prudent choice. 
In the same period, Soochow Mobile Internet mainly held information technology industries such as Kingsoft Office and Weir shares, as well as technology such as electronics, and the trend of science and technology will also affect the performance of the company. Liu Yuanhai, the manager of the ** ** in the third quarter of this year, judged that the current A** market policy bottom or has appeared, with the gradual implementation of the steady growth policy, the earnings of A-share listed companies bottomed out or can be expected, so the downside risk of the market may be small, after the adjustment of the third quarter, the fourth quarter of the A** field or can be positive and optimistic. 
In terms of investment direction, he is relatively optimistic about the investment opportunities in technology stocks represented by AI artificial intelligence, and the A** field may enter the era of technology stocks in the next 3-5 years or even longer, and he is optimistic about the next 3-5 years or even longer A** field technology stocks**. Therefore, the company may continue to focus on technology stocks, hoping to achieve a continuous upward trend in net worth by sharing the development of China's technology industry. In terms of specific directions, Liu Yuanhai is relatively optimistic about the following three major investment opportunities that will benefit from the development of AI technology: AI computing power and applications, electronic semiconductors, and automotive intelligence. Judging from the top three active equity positions, the position structure is relatively different, considering that the performance gap between the top ranks is not large, in the last four trading days of the year, the market trend of the Beijing Stock Exchange market, science and technology, and liquor market may determine who the "champion" will eventually fall to, and you will continue to pay attention. Editor: Joey Review: Wooden Fish.