New Stock Listings - Hansang Technology (301491) listed at an issue price of 28.91 on August 6, 2025[1] - China Heavy Industry (601989) cash option declaration period from August 13, 2025[1] - China Shipbuilding (600150) buyback request period from August 13 to August 15, 2025[1] Offer and Acquisition Periods - Shenkou Co. (002633) offer period from July 29 to August 27, 2025[1] - ST Kelly (300326) offer period from July 17 to August 15, 2025[1] - Happiness Blue Ocean (300528) announcement on severe abnormal fluctuations[1] Abnormal Fluctuations - Tibet Tourism (600749) reported severe abnormal fluctuations on July 31, 2025[1] - Longyang Electronics (301389) announcement on August 4, 2025[1] - ST Suwu (600200) announcement on August 6, 2025[1] Additional Announcements - ST Dongjing (002199) announcement on August 6, 2025[1] - ST Yashan (000691) announcement on August 5, 2025[1] - ST Huamei (600360) announcement on July 31, 2025[1]

Group 1: Grid Trading Strategy Overview - The essence of "grid trading" is a high buy low sell trading strategy, which does not predict market trends but utilizes natural price fluctuations within a certain range to generate profits, suitable for frequently fluctuating markets [3][12] - Characteristics of suitable grid trading targets include: selecting on-market targets, stable long-term trends, low transaction costs, good liquidity, and high volatility, with equity ETFs being relatively suitable for grid trading [3][12] Group 2: ETF Grid Strategy Target Analysis - The Hang Seng Technology ETF (513010.SH) benefits from improved liquidity in the Hong Kong stock market and the return of quality listed companies, making it a cost-effective investment tool in a low-interest-rate environment. In the first half of 2025, net inflows from southbound funds into Hong Kong stocks reached HKD 731.2 billion, equivalent to 91% of last year's total net purchases [3][13] - The Robotics ETF (562500.SH) is positioned in a strategic core area of China's technological innovation and high-end manufacturing, supported by government policies aimed at accelerating technological autonomy and industrial cluster breakthroughs [4][16] - The Chip ETF (159995.SZ) sees a temporary easing of overseas suppression factors, while "domestic substitution" remains the long-term development theme, with significant investments planned in critical areas of the semiconductor industry [5][17] - The Infrastructure ETF (516950.SH) is expected to benefit from fiscal expansion and the implementation of major projects, with the government planning to issue special bonds totaling CNY 1.3 trillion and project lists supporting 1,459 projects in key areas [6][18]

Group 1 - The A-share equity market has shown strong performance, breaking through key levels, with the Shanghai Composite Index approaching 3600 points before facing resistance and adjusting to around 3550 points [2][4] - The stock-based enhancement strategy remains relatively strong despite adjustments in various equity fund strategy indices, with returns of -0.858% for the stock-based enhancement strategy and -1.951% for the evergreen low-volatility strategy [2][6] - The evergreen low-volatility strategy has demonstrated strong stability since its inception, effectively reducing portfolio volatility during market fluctuations, and is recommended for long-term allocation [5][14] Group 2 - The overseas equity allocation strategy has faced a decline of -1.307%, but the long-term outlook remains positive due to the resilience of the U.S. economy and technological advancements [7][20] - The cash-enhanced fund strategy has outperformed its benchmark, achieving a return of 0.027%, indicating effective cash management for investors [6][17] - The report emphasizes the importance of a diversified investment approach, particularly in the context of global asset allocation through QDII funds, to enhance returns [24][28]

New Stock Issuance - The new stock issuance for Zhigao Machinery (证券代码: 920101) is priced at 17.41 CNY per share, effective from August 5, 2025[1] - China Heavy Industry (证券代码: 601989) has a cash option declaration period from August 13, 2025[1] - China Shipbuilding (证券代码: 600150) has a buyback request period from August 13 to August 15, 2025[1] Offer and Acquisition Periods - Shenkou Co., Ltd. (证券代码: 002633) has a tender offer period from July 29 to August 27, 2025[1] - ST Kelly (证券代码: 300326) has a tender offer period from July 17 to August 15, 2025[1] - Happiness Blue Ocean (证券代码: 300528) has a significant announcement on July 30, 2025[1] Market Volatility - There are reports of severe abnormal fluctuations for Tibet Tourism (证券代码: 600749) as of July 31, 2025[1] - ST Suwu (证券代码: 600200) also reported significant volatility on July 30, 2025[1] - The stock of ST YaTai (证券代码: 000691) is under observation for abnormal trading activities as of August 5, 2025[1]

Group 1: New Stock Offerings - Shenke Co., Ltd. (002633) has a tender offer period from July 29, 2025, to August 27, 2025[1] - ST Kelly (300326) has a tender offer period from July 17, 2025, to August 15, 2025[1] - ST Zitian (300280) has a tender offer period ending on July 21, 2025[1] Group 2: Market Alerts - Xizang Tourism (600749) reported severe abnormal fluctuations on July 31, 2025[1] - Tianlu Convertible Bonds (110060) announced significant market activity on July 30, 2025[1] - ST Suwu (600200) experienced unusual trading patterns on July 30, 2025[1] Group 3: Additional Announcements - Happiness Blue Ocean (300528) issued a notice on July 30, 2025, regarding market conditions[1] - Common Pharmaceutical (300966) provided updates on August 1, 2025, related to stock performance[1] - Dongjie Intelligent (300486) released a statement on August 1, 2025, concerning market volatility[1]

Group 1 - The report indicates that the bond market pressure has eased, signaling a potential turning point. The marginal softening of the "anti-involution" policy has reduced inflation expectations, and recent deep corrections in commodity futures have alleviated panic in the bond market, enhancing the willingness of investors to enter the market [4][23][25] - The stock market is expected to maintain a volatile pattern in the short term, with the Shanghai Composite Index likely to fluctuate due to a vacuum in incremental policy. The omission of "rate cuts" in the recent political bureau meeting suggests a lower probability of new stimulus policies, shifting focus to the implementation of existing measures [5][25] - The report highlights two main investment directions: defensive stocks such as banks and non-bank financials that serve as stabilizers for the index, and opportunities in rare earths due to the US-China competition and price increases, as well as low-position opportunities in other thematic rotations [5][25] Group 2 - The report reviews significant events, including the continuation of US-China trade negotiations and the Chinese government's emphasis on stabilizing economic policies without aggressive measures like rate cuts. The meeting reiterated the need for a proactive macro policy while avoiding mention of "disorderly competition" [13][14] - The weekly market review indicates a rebound in the bond market, with a decrease in manufacturing PMI reflecting short-term disturbances in economic recovery. The report notes that the A-share market has seen a significant pullback, with some sectors reaching high valuations after a rapid increase since June [16][19] - The report tracks key indicators in the A-share and bond markets, noting that the yield curve remains historically low, and the valuation of A-shares has significantly adjusted downwards. The market's turnover rate has decreased, indicating lower trading enthusiasm and a decline in the profit-making effect [28][31][32]

Investment Rating - The report does not explicitly provide an investment rating for the banking wealth management industry Core Insights - The banking wealth management market has shown significant growth, with the total scale reaching 30.67 trillion yuan by the end of June 2025, a year-on-year increase of 7.53% [3][10] - The proportion of closed-end products with a duration of over one year has increased to 72.86%, indicating a trend towards longer-duration products [3][10] - Fixed-income products dominate the market, accounting for 97.20% of the total wealth management product scale, while cash management products are experiencing a contraction [3][11] - The proportion of wealth management products investing in public funds has risen to 4.2%, reflecting a shift in investment strategy [3][12] - The weight of credit bonds in wealth management products has decreased, with holdings at 312.79 billion yuan, representing 38.79% of total investment assets, down 2.34 percentage points year-on-year [3][12] Summary by Sections Regulatory and Industry Dynamics - The banking wealth management market has seen a notable increase in product scale, driven by factors such as the reduction in deposit rates and continuous innovation by wealth management companies [3][10] - The trend towards longer-duration products is aimed at enhancing yield and improving asset-liability matching [3][10] Yield Performance - For the week of July 21-27, 2025, cash management products recorded an annualized yield of 1.35%, down 2 basis points from the previous week [3][14] - The yield of fixed-income products has generally declined, influenced by market conditions and inflation expectations [3][15] Break-even Rate Tracking - The break-even rate for banking wealth management products rose to 2.02%, an increase of 1.23 percentage points week-on-week, indicating potential pressure on the products [3][23][25] - The expansion of credit spreads is correlated with the break-even rate, suggesting a need for close monitoring of credit market trends [3][23][24]

New Stock Listings - HanGao Group listed on July 30, 2025, with an issue price of 15.43[1] - *ST Zitian and *ST Suwu are under severe abnormal fluctuations as of July 30, 2025[1] - Tianlu Convertible Bonds listed on July 30, 2025, with a risk warning[1] Market Alerts - Multiple stocks including *ST Xinchao and *ST Yuancheng are flagged for severe abnormal fluctuations on July 30, 2025[1] - New listings include companies like Xianghe Precision and Shenshui Planning, with announcements made on July 30, 2025[1] - The report includes links to detailed announcements for each stock, ensuring transparency and accessibility for investors[1] Trading Insights - The report highlights the importance of monitoring newly listed stocks for potential volatility and investment opportunities[1] - Investors are advised to review the latest announcements and risk warnings associated with these stocks to make informed decisions[1]

Group 1 - The report outlines a grid trading strategy, which is essentially a high buy low sell trading approach that capitalizes on price fluctuations without predicting market trends, making it suitable for volatile markets [4][14] - Characteristics of suitable grid trading targets include selecting on-market assets, stable long-term trends, low transaction costs, good liquidity, and high volatility, with equity ETFs being particularly appropriate for this strategy [4][14] - The report highlights key ETFs for grid trading, including the New Economy ETF, which benefits from policy incentives and industrial upgrades, capturing new economic growth drivers in China [4][15] Group 2 - The report discusses the Germany ETF, which tracks the DAX index and benefits from Germany's economic stimulus policies, focusing on high-end manufacturing and technology leaders [5][18] - The Chip ETF is noted for its short-term easing of overseas pressures and long-term focus on domestic substitution, with significant investments in the semiconductor industry to enhance self-sufficiency [6][19] - The Robot ETF is emphasized as a strategic core area for technological innovation and high-end manufacturing in China, supported by government policies aimed at advancing intelligent manufacturing [8][24]

Core Insights - The report indicates that the public fund quantitative selection strategy index continues to reach new highs, with equity fund enhancement strategies maintaining high elasticity [1][3] - The A-share equity market has shown strong performance, with the Shanghai Composite Index breaking through key resistance levels, supported by multiple favorable factors that enhance market sentiment [3][4] - The report highlights that various strategy indices have recorded positive returns, with the Evergreen Low Volatility Strategy and Equity Fund Enhancement Strategy yielding returns of 1.990% and 2.284% respectively, indicating the latter's stronger elasticity [3][5] Quantitative Strategy Allocation Views - The preferred strategy ranking is Equity Fund Enhancement Strategy > Evergreen Low Volatility Strategy > Overseas Equity Strategy [4] - The report notes that the A-share market is experiencing a positive upward trend, with the technology growth sector gaining more attention and funds shifting towards related low-position sectors [4][5] - The Evergreen Low Volatility Strategy has shown strong stability since its inception, effectively reducing portfolio volatility while maintaining decent returns [5][15] Performance Tracking of Fund Strategies - The Evergreen Low Volatility Fund Strategy has achieved a return of 1.990% this week, 4.909% over the past month, and 6.627% year-to-date, with a total return of 14.953% since its inception [13] - The Equity Fund Enhancement Strategy has recorded a return of 2.284% this week, 7.292% over the past month, and 11.397% year-to-date, with a total return of 19.794% since its inception [13] - The Cash Growth Fund Strategy has achieved a return of 0.028% this week, outperforming the benchmark, with cumulative excess returns exceeding 0.41% since its inception [18] Fund Strategy Construction Ideas - The report emphasizes the need for a quantitative approach to construct a fund selection pool that meets the diverse needs of investors in different market environments and risk preferences [22][29] - The Evergreen Low Volatility Fund Strategy aims to select funds with long-term stable return characteristics, focusing on funds with low volatility and drawdown levels [26] - The Equity Fund Enhancement Strategy seeks to identify funds with strong alpha generation capabilities, aiming for higher returns in improving market conditions [27]