投资策略：中报业绩线索的交易思路

Group 1 - The report emphasizes that the period of July to August is crucial for A-share listed companies' interim report disclosures, and performance clues may become an important trading direction in the market [2][20] - The report outlines specific trading strategies based on performance characteristics of individual stocks, including holding periods and conditions for selecting stocks to achieve higher excess win rates and returns [2][20] - In early July, stocks with performance improvement or relatively high growth showed significant improvement, with excess win rates and excess returns increasing by 7% and 1.42% respectively for stocks with performance growth greater than 0% [2][21] Group 2 - In mid-July, stocks with a price increase greater than 5% and relatively high growth required careful selection after three days, with excess win rates increasing from 54% to 57% when performance absolute growth thresholds were relaxed [2][28] - In late July, the strategy of selecting stocks with a price increase greater than 5% while relaxing the absolute growth threshold led to a significant increase in excess win rates, with a preferred holding period of 10 days [2][4] - In early August, the number of eligible stocks was relatively low, and a "broad net" strategy could create average returns, but excessive volatility could impact overall performance [2][5] Group 3 - In mid-August, combining a price increase greater than 5% with relatively high growth conditions improved excess win rates significantly, with a preferred holding period of 5 days [2][5] - In late August, during the concentrated disclosure phase, stricter selection criteria led to better backtest performance, with a strategy of performance growth greater than 50% and a price increase greater than 5% achieving a 70% excess win rate [2][5]