The current technology-driven rally has pushed multiple individual stocks into higher-tier broad-based indices due to market cap growth, which will trigger passive allocation demand from index funds, bringing deterministic incremental capital to the newly included companies. The index rebalancing will boost individual stock liquidity and market attention in the short term, but medium-to-long-term performance still depends on fundamentals and industry prosperity support.

From the perspective of listing board distribution, the four major indices remain dominated by Main Board enterprises; however, the marginal growth trend of ChiNext and STAR Market representation has not changed. Among them, the CSI 500 index shows the most significant sector structure shift: a net outflow of 10 Main Board constituents, with ChiNext and STAR Market adding 4 and 6 stocks respectively, driving a combined 2.9% increase in the market cap weight of the "dual innovation" segment and significantly enhancing its dual-innovation attributes.

The CSI 500 index also demonstrates dual leadership in growth style across both quantity and weight, with post-adjustment weight accounting for approximately 55%, followed by cyclical style at roughly 23%. In this adjustment, cyclical style constituents increased by 4, consumer stocks decreased by 4, growth and stability each added 1, while financials decreased by 2. However, the weight movement direction diverged from the quantity changes: although growth style saw an increase in individual stock count, its market cap weight actually declined by 1.1%, while cyclical style weight rose by 1%. This indicates that stock-level replacements exerted greater impact on style weight than the quantity changes themselves.