Core Viewpoint - The article emphasizes the importance of diversifying investment portfolios beyond traditional stocks and bonds by considering commodity ETFs, which can provide unique investment opportunities and risk mitigation [1]. Group 1: What is Commodity ETF? - Commodity ETFs are funds that track the price movements of commodities such as gold, copper, and soybeans, allowing investors to gain exposure without directly buying physical assets [3]. Group 2: Reasons to Consider Commodity ETFs - Commodity ETFs offer convenience compared to physical assets, with lower entry barriers, simpler operations, and flexible trading options [4]. - They help in risk diversification as commodity price movements may not correlate with stocks and bonds, potentially reducing overall portfolio volatility [4]. - Long-term trends, such as global energy transitions, present investment opportunities that traditional asset classes may not fully capture [4]. Group 3: Types of Commodity ETFs - Gold ETFs can hedge against stock market volatility and inflation, allowing investors to benefit from gold price increases without holding physical gold [6]. - Agricultural commodities like wheat and corn, as well as economic crops like soybeans and cotton, exhibit high volatility but have low correlation with stocks and bonds over the long term, making them suitable for differentiated portfolio allocation [7]. Group 4: Considerations for Investing in Commodity ETFs - Commodity assets may experience greater short-term volatility compared to stocks and bonds, necessitating a strong understanding of the supply-demand dynamics and influencing factors [10][11]. - Commodity investments do not generate interest or dividends; returns primarily come from price differences [11]. - Overall, commodity ETFs can enrich investment choices beyond stocks and bonds, with categories like gold, non-ferrous metals, energy, and agricultural products each offering distinct characteristics for asset allocation [12].

Core Viewpoint - The report from Shenwan Hongyuan indicates that the 10-year government bond yield in China is expected to fluctuate between 1.65% and 1.80% from August to October, with stringent conditions required for a downward breakthrough [1] Group 1: Market Conditions - The bond market is anticipated to experience volatility during August to October, with mid to short-term bonds expected to perform steadily, leading to a steeper yield curve compared to the current state [1] - In August, the pressure on the bond market may not be significant due to a peak in government bond supply, and monetary policy will need to support liquidity alongside fiscal needs [1] Group 2: Central Bank Actions - If the bond market experiences intensified adjustments, the central bank may consider restarting open market operations for government bonds [1] - The focus on preventing capital turnover and managing risks suggests that liquidity is more likely to remain loose rather than further easing [1] Group 3: Future Risks and Economic Indicators - The transition between the third and fourth quarters is identified as a potential risk window, as government bond supply is expected to decrease, leading to a lower probability of liquidity hedging [1] - There may be a risk of rising consumer price index and producer price index as the economy enters a verification period for anti-involution effects [1] Group 4: Investment Opportunities - The second half of the year may present lower odds for the bond market and higher odds for the stock market, driven by the migration of household deposits and insurance funds into equities [1] - The stock market is showing signs of bottoming out, with a gradual emergence of wealth effects, while the bond market's pricing is becoming less sensitive to fundamentals and liquidity, making it more reactive to changes in price expectations [1]

Core Viewpoint - Shenwan Hongyuan's stock price remained stable at 5.34 yuan as of August 6, 2025, indicating no change from the previous trading day [1] Group 1: Stock Performance - The opening price for Shenwan Hongyuan was 5.32 yuan, with a daily high of 5.36 yuan and a low of 5.30 yuan [1] - The trading volume reached 539,380 hands, with a total transaction amount of 288 million yuan [1] Group 2: Company Overview - Shenwan Hongyuan is a comprehensive securities company engaged in various sectors including securities brokerage, investment banking, asset management, and research consulting [1] - The company's total market capitalization is 133.71 billion yuan, while the circulating market capitalization stands at 120.34 billion yuan [1] Group 3: Capital Flow - On the day in question, the net outflow of main funds for Shenwan Hongyuan was 23.38 million yuan, with a cumulative net outflow of 53.41 million yuan over the past five trading days [1]

（ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：6806） 海外監管公告 本公告乃由申萬宏源集團股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上市規 則第13.10B條作出。 茲載列本公司於深圳證券交易所網站發佈之《申萬宏源集團股份有限公司2024年度A股利潤分 配實施公告》，僅供參閱。 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，並明確表示概不就因本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。 本次利润分配方案以固定总额的方式分配。 本次利润分配方案自披露至实施期间，公司股本总额未发生变化。 承董事會命 申萬宏源集團股份有限公司 董事長 劉健 北京，2025年8月6日 於本公告日期，董事會成員包括執行董事劉健先生及黃昊先生；非執行董事朱志龍先生、張英女士、邵亞樓先生、 徐一心先生及嚴金國先生；獨立非執行董事楊小雯女士、武常岐先生、陳漢文先生及趙磊先生。 证券代码：000166 证券简称：申万宏源 公告编号：临2025-54 申 万 宏 源 集 团 股 份 ...

本次实施利润分配方案距离股东大会审议通过的时间未超过两 个月。 证券代码：000166 证券简称：申万宏源 公告编号：临2025-54 申 万 宏 源 集 团 股 份 有 限 公 司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 申万宏源集团股份有限公司（以下简称"本公司""公司"）2024 年度利润分配方案已经2024年度股东大会审议通过，现将本次利润分 配方案的有关实施事宜公告如下： 一、股东大会审议通过利润分配方案等情况 过了《公司 2024 年度利润分配方案》。以公司截止 2024 年 12 月 31 日 A 股和 H 股总股本 25,039,944,560 股为基数，向股权登记日登记 在册的 A 股和 H 股股东每 10 股派发现金股利人民币 0.46 元（含税） 本次利润分配方案以固定总额的方式分配。 本次利润分配方案自披露至实施期间，公司股本总额未发生变化。 本次实施的利润分配方案与股东大会审议通过的利润分配方案 一致。 利将于 2025 年 8 月 13 日通过股东托管证券公司（或其他托管机构） 直接划入其资金账户。 二、本次实施的利润分配方 ...

申 万 宏 源 集 团 股 份 有 限 公 司 2024 年度 A 股利润分配实施公告 证券代码：000166 证券简称：申万宏源 公告编号：临2025-54 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 申万宏源集团股份有限公司（以下简称"本公司""公司"）2024 年度利润分配方案已经2024年度股东大会审议通过，现将本次利润分 配方案的有关实施事宜公告如下： 一、股东大会审议通过利润分配方案等情况 2025 年 6 月 20 日，公司召开 2024 年度股东大会，会议审议通 过了《公司 2024 年度利润分配方案》。以公司截止 2024 年 12 月 31 日 A 股和 H 股总股本 25,039,944,560 股为基数，向股权登记日登记 在册的 A 股和 H 股股东每 10 股派发现金股利人民币 0.46 元（含税）。 本次利润分配方案以固定总额的方式分配。 本次利润分配方案自披露至实施期间，公司股本总额未发生变化。 本次实施的利润分配方案与股东大会审议通过的利润分配方案 一致。 本次实施利润分配方案距离股东大会审议通过的时间未超过两 个月。 二、 ...

Group 1 - The core stock price of Shenwan Hongyuan is reported at 5.34 yuan, with a 1.33% increase from the previous trading day [1] - The trading volume on the same day reached 382 million yuan, with a turnover rate of 0.32% [1] - Shenwan Hongyuan operates in the securities industry, covering investment banking, asset management, and wealth management [1] Group 2 - The company has recently established an innovative industrial investment fund in Xinjiang, with a contribution of 501 million yuan, focusing on equity investment and asset management [1] - Shenwan Hongyuan expects a net profit growth of 92.66% year-on-year for the first half of 2025, estimating a profit range of 1.11 billion to 1.46 billion yuan [1] - E Fund has recently increased its holdings in Shenwan Hongyuan's H shares, raising its stake to 5.13% [1] Group 3 - On August 5, the net inflow of main funds was 5.57 million yuan, while the net outflow over the past five days was 75.20 million yuan [1]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 智通财经8月5日讯（记者 高艳云）近期，沪指在3600点关口附近持续震荡，市场情绪有所波动。包括 招商证券、中信证券、中信建投、银河证券等在内的多家头部券商陆续发布研报，表达对市场中长期向 好的坚定信心。 中信证券官方微信公众号直言"坐稳扶好"，同时发文指出"牛市，也会换挡""3600点以上，波动加大"。 撰文用语还颇为"鸡汤"，道理与逻辑十足，比如"记住，对于大部分普通人来说，要掌握的不是牛市赚 钱的技能，而是终其一生、穿越各种周期性波动的、财富稳健增长的能力。"值得注意的是，该文又是 一篇"10万+"，且转发过万。 中信建投资深策略分析师夏凡捷直言，全球货币宽松和A股资金面充裕的环境不变，投资者的牛市预期 不变，新赛道的结构性景气不变。阶段性震荡整固，有利于A股慢牛行情行稳致远。 银河证券首席策略分析师杨超称，市场交投活跃度整体仍处于较高水平，预计市场维持在震荡偏高中枢 运行，关注结构性机会。中长期来看，市场向好趋势不改。 华泰证券分析师何康认为，目前赚钱效应已回调至7月中旬位置，市场抛压相对可控，短期A股或进入 波动率放大的平台期 ...

格隆汇8月5日丨申万宏源香港(00218.HK)发布公告，自2025年8月5日起生效，(1)张启昌辞任公司秘书 兼授权代表；及(2)练少娥已获委任为公司秘书及授权代表。 ...

申万宏源香港(00218)发布公告，自2025年8月5日起，张启昌先生辞任公司秘书兼授权代表;及练少娥女 士已获委任为公司秘书及授权代表。 ...