Group 1: Liquidity and Fund Performance - The cash flow ETF managed by Jiashi has a turnover rate of 2.1% with a transaction volume of 24.85 million yuan [2] - Over the past month, the average daily transaction volume of the cash flow ETF reached 56.18 million yuan [2] - In the last two weeks, the cash flow ETF saw a significant scale increase of 324 million yuan, ranking first among comparable funds [2] - The fund's shares increased by 25.5 million shares in the last two weeks, indicating substantial growth [2] - In the last ten trading days, the cash flow ETF attracted a total of 301 million yuan in inflows [2] Group 2: Top Holdings and Index Composition - As of July 31, 2025, the top ten weighted stocks in the Guozheng Free Cash Flow Index include SAIC Motor, China National Offshore Oil, Midea Group, Gree Electric Appliances, Luoyang Molybdenum, China Aluminum, Xiamen International Trade, Shanghai Electric, Chint Electric, and China Power, collectively accounting for 57.66% of the index [2] Group 3: Market Trends and Investment Strategies - According to Zhongtai Securities, the current low-risk interest rates and policies enhancing cash flow visibility have made coal stocks with high dividend yields (5%-10%) more attractive to investors [4] - The Social Security Fund's contributions and state-owned asset revitalization policies further support this trend by stabilizing costs and enhancing the value of high-dividend assets [4] - The market is currently prioritizing dividend returns over cyclical resilience, leading to a defensive allocation of funds [4] - Guotai Haitong notes that current policies are tightening capital outflows through stricter regulations, promoting dividends through both encouragement and mandatory measures [5] - The regulatory environment is improving shareholder returns, with the potential for a systematic increase in the valuation of the CSI 300 index, particularly benefiting high-quality blue-chip stocks with stable cash flows and high dividend capabilities [5]

Core Insights - The Guozheng Free Cash Flow Index has increased by 0.50% as of August 20, 2025, with leading stocks including Yuntianhua, Mould Technology, Mulinsen, Jiejia Weichuang, and Baiyin Nonferrous Metals [1] - The Free Cash Flow ETF (159201) has risen by 0.55%, with a latest price of 1.09 yuan, and has seen a turnover rate of 1.76% with a transaction volume of 68.6096 million yuan [1] - Over the past week, the Free Cash Flow ETF has averaged a daily transaction volume of 343 million yuan, ranking first among comparable funds [1] Fund Performance - As of August 19, 2025, the Free Cash Flow ETF has achieved a net value increase of 8.74% over the past six months [2] - The ETF's highest single-month return since inception is 3.62%, with the longest consecutive monthly gain being three months and a maximum increase of 9.05% [2] - The ETF has a monthly profit percentage of 80.00% and a historical six-month holding profit probability of 100.00% [2] Fund Metrics - The management fee for the Free Cash Flow ETF is 0.15%, and the custody fee is 0.05%, making it the lowest among comparable funds [2] - The tracking error for the ETF over the past month is 0.040%, indicating the highest tracking precision among comparable funds [2] - The ETF closely tracks the Guozheng Free Cash Flow Index, which reflects the price changes of listed companies with high and stable free cash flow levels [2] Top Holdings - The top ten weighted stocks in the Guozheng Free Cash Flow Index account for 57.66% of the index, including SAIC Motor, China National Offshore Oil, Midea Group, and Gree Electric [2][4] - The weightings of the top stocks are as follows: SAIC Motor (10.18%), China National Offshore Oil (9.81%), Midea Group (9.28%), and Gree Electric (7.56%) [4]

Core Viewpoint - The meeting between CATL and Shanghai Electric focused on collaboration in the new energy industry chain, zero-carbon park construction, comprehensive energy solutions, and international market expansion, highlighting a shared vision for innovation and sustainability [1] Group 1: Company Developments - CATL is transitioning from a leading battery manufacturer to a provider of comprehensive new energy solutions across multiple scenarios, emphasizing innovation in zero-carbon technology [1] - The company aims to integrate resources and collaborate on key technologies to establish a benchmark for green technology cooperation with national and global influence [1] Group 2: Strategic Goals - Both companies expressed a commitment to supporting national energy security and achieving carbon neutrality goals through their collaborative efforts [1] - The partnership is expected to enhance the development of high-end equipment and clean energy technologies, positioning China at the forefront of the global market [1]

Group 1: Stock Market Overview - The total trading amount for Shanghai Stock Connect today was 186.257 billion, while Shenzhen Stock Connect totaled 183.23 billion [1] - The top traded stocks in Shanghai were led by China Ping An, followed by Cambricon and CITIC Securities [1] - In Shenzhen, the top traded stocks were led by Oriental Fortune, followed by CATL and Zhongji Xuchuang [1] Group 2: Sector Performance - Sectors with the highest gains included liquid cooling servers, film and television, CPO, and rare earth permanent magnets, while coal, non-ferrous metals, and steel sectors saw the largest declines [2] - The electronic sector had a net inflow of 45.93 billion, leading all sectors, followed by communication and cultural media sectors [3] - The non-bank financial sector experienced the largest net outflow of 77.41 billion, followed by the securities and machinery equipment sectors [4] Group 3: Individual Stock Performance - ZTE Corporation had the highest net inflow of 27.49 billion, followed by Northern Rare Earth and LEO Technology [5] - The largest net outflow was from Wolong Electric Drive at -18.90 billion, followed by Tianfeng Securities and Shanghai Electric [6] Group 4: ETF Trading - The top ten ETFs by trading amount included Hong Kong Securities ETF with 33.06512 billion, down 20.43% from the previous trading day [7] - The Sci-Tech 50 ETF saw a significant increase in trading amount, up 62.18% to 6.90527 billion [7] - The top ETFs by share change last week included Hong Kong Internet ETF with an increase of 3.273 billion shares [9] Group 5: Futures Market - In the four major futures contracts, both long and short positions increased for IH, IF, and IM contracts, while IC contract saw a significant reduction in both long and short positions [11] Group 6: Institutional Activity - Institutions were active in buying stocks such as LEO Technology and North Latitude Technology, with significant purchases of 1.93 billion and 0.9542 billion respectively [12] - The stock Innovation Medical saw a large sell-off by institutions, totaling 2.23 billion [13] Group 7: Retail Investor Activity - Retail investors showed a decrease in activity, with Wan Tong Development experiencing significant sell-offs totaling 4.54 billion from multiple retail investor seats [14] - East Communication Peace saw net buying from two retail investor seats totaling 0.455 billion [14] Group 8: Quantitative Fund Activity - Quantitative funds showed a decline in activity, with a notable purchase of 1.24 billion in Qiantang shares by one quantitative seat [15]

Market Overview - On August 18, the Shanghai Composite Index rose by 0.85%, the Shenzhen Component Index increased by 1.73%, the ChiNext Index climbed by 2.84%, and the CSI 300 Index gained 0.88% [1] - Among the tradable A-shares, 4,037 stocks rose, accounting for 74.62%, while 1,222 stocks declined [1] Capital Flow - The main capital saw a net outflow of 16.057 billion yuan throughout the day [1] - The ChiNext experienced a net outflow of 5.591 billion yuan, and the STAR Market had a net outflow of 2.029 billion yuan [1] - Conversely, the CSI 300 constituent stocks had a net inflow of 5.273 billion yuan [1] Industry Performance - Out of the 29 first-level industries classified by Shenwan, 29 sectors saw an increase, with the top performers being Communication and Comprehensive, which rose by 4.46% and 3.43%, respectively [1] - The sectors with the largest declines were Real Estate and Oil & Petrochemicals, which fell by 0.46% and 0.10%, respectively [1] Industry Capital Inflow and Outflow - Eight industries had net inflows, with the Electronics sector leading at a net inflow of 5.040 billion yuan and a daily increase of 2.48% [1] - The Communication sector followed closely with a net inflow of 4.904 billion yuan and a daily increase of 4.46% [1] - Twenty-three industries experienced net outflows, with the Non-bank Financial sector seeing the largest outflow of 7.087 billion yuan, despite a daily increase of 0.81% [1] - The Electric Equipment sector had a net outflow of 5.090 billion yuan, with a daily increase of 1.32% [1] Individual Stock Performance - A total of 2,098 stocks had net inflows, with 995 stocks seeing inflows exceeding 10 million yuan, and 140 stocks with inflows over 100 million yuan [2] - The stock with the highest net inflow was ZTE Corporation, which rose by 8.80% with a net inflow of 2.899 billion yuan [2] - Other notable inflows included Northern Rare Earth and Liou Co., with net inflows of 2.173 billion yuan and 1.544 billion yuan, respectively [2] - Conversely, 154 stocks had net outflows exceeding 100 million yuan, with the largest outflows from Wolong Electric Drive, Tianfeng Securities, and Shanghai Electric, amounting to 1.913 billion yuan, 1.678 billion yuan, and 1.011 billion yuan, respectively [2]

Market Overview - The Shanghai Composite Index rose by 0.85% on August 18, with 29 out of the 31 sectors experiencing gains, led by the communication and comprehensive sectors, which increased by 4.46% and 3.43% respectively [1] - The power equipment sector saw a rise of 1.32%, while the real estate and oil & petrochemical sectors faced declines of 0.46% and 0.10% respectively [1] Fund Flow Analysis - The main funds in the two markets experienced a net outflow of 16.057 billion yuan, with 8 sectors seeing net inflows. The electronics sector led with a net inflow of 5.040 billion yuan and a daily increase of 2.48%, followed by the communication sector with a net inflow of 4.904 billion yuan [1] - The non-bank financial sector had the largest net outflow, totaling 7.087 billion yuan, followed by the power equipment sector with a net outflow of 5.090 billion yuan. Other sectors with significant outflows included pharmaceuticals, basic chemicals, and real estate [1] Power Equipment Sector Performance - In the power equipment sector, 288 out of 361 stocks rose, with 9 hitting the daily limit. The sector had a net inflow of funds into 144 stocks, with 8 stocks receiving over 100 million yuan in net inflows. The top stock for net inflow was KOTAI Power, with 352 million yuan, followed by Kehua Data and Megmeet, with inflows of 287 million yuan and 223 million yuan respectively [2] - The sector also saw 13 stocks with net outflows exceeding 100 million yuan, with the largest outflows from Wolong Electric Drive, Shanghai Electric, and Electric Wind Power, amounting to 1.913 billion yuan, 1.011 billion yuan, and 246 million yuan respectively [2][3] Top Gainers in Power Equipment Sector - The top gainers in the power equipment sector included: - KOTAI Power: +20.01%, turnover rate 18.25%, net inflow 352.48 million yuan - Kehua Data: +7.71%, turnover rate 13.66%, net inflow 286.67 million yuan - Megmeet: +9.04%, turnover rate 13.07%, net inflow 222.95 million yuan [2] Top Losers in Power Equipment Sector - The top losers in the power equipment sector included: - Wolong Electric Drive: +7.97%, turnover rate 22.34%, net outflow -1.913 billion yuan - Shanghai Electric: -1.03%, turnover rate 4.74%, net outflow -1.011 billion yuan - Electric Wind Power: -5.37%, turnover rate 6.23%, net outflow -246 million yuan [3]

格隆汇8月18日丨上海电气(02727.HK)宣布，将于2025年8月29日(星期五)召开董事会会议，藉以(其中包 括)考虑及批准公司及其附属公司截至2025年6月30日止六个月的中期业绩。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因公告全部或任何部分內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 SHANGHAI ELECTRIC GROUP COMPANY LIMITED 董事會會議通告 上海電氣集團股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，將於二零二五年八月二 十九日（星期五）召開董事會會議，藉以（其中包括）考慮及批准本公司及其附屬公司截至二零二五 年六月三十日止六個月之中期業績。 承董事會命 上海電氣集團股份有限公司 吳磊 董事會主席 中國上海，二零二五年八月十八日 於本公告日期，本公司執行董事為吳磊博士、朱兆開先生及王晨皓先生；本公司非執行董事為邵君先生 及陸雯女士；本公司獨立非執行董事為徐建新博士、劉運宏博士及杜朝輝博士。 * 上海電氣集團股份有限公司 （ 於中華人民共和國註冊成立的股份有限公司 ） （股份代號：02727） * 僅供識別 ...

Group 1 - The main focus of the article is on the significant outflow of capital from specific stocks as of August 18, with notable amounts listed for each company [1] - The top three companies with the highest capital outflow are: Wolong Electric Drive (-1.518 billion), Tianfeng Securities (-1.458 billion), and Dongfang Wealth (-1.100 billion) [1] - Other companies experiencing substantial outflows include: Quzhou Development (-603 million), Bank of China Securities (-519 million), and Industrial Fulian (-452 million) [1] Group 2 - The article provides a detailed list of the top 20 stocks with the largest capital outflows, indicating a trend of investor withdrawal from these companies [1] - The total outflow amounts for the listed companies range from 2.42 billion to 15.18 billion, highlighting a significant shift in investor sentiment [1] - The data reflects a broader market trend that may impact future investment strategies and stock performance [1]

Group 1 - The State Intellectual Property Office of China granted a patent to Shanghai Electric Wind Power Group Co., Ltd. for a device named "removal tool" with authorization announcement number CN223223301U, applied for on October 2024 [1] - The patent relates to the field of removing broken wires from the rectangular pipes of wind turbines, providing a tool that includes positioning fixtures, positioning components, and an installation base, ensuring simple structure and reliable positioning [1] Group 2 - Shanghai Electric Wind Power Group Co., Ltd. was established in 2006 and is located in Shanghai, primarily engaged in the production and supply of electricity and heat [2] - The company has a registered capital of 1,333.33 million RMB and has invested in 121 enterprises, participated in 1,854 bidding projects, and holds 1,173 patents along with 118 trademark registrations [2]