7月工业企业利润同比下降1.5%，股指期货震荡上行IF2509、IC2509和IM2509合约再创近3年多来新高

Report Overview - Date: August 27, 2025 - Author: Tao Jinfeng - Investment Consulting Qualification Number: Z0000372 - Email: taojinfeng@gtht.com Industry Investment Rating No relevant information provided. Core Viewpoints - On August 27, the main contracts of stock index futures IF2509, IH2509, IC2509, and IM2509 opened slightly higher. IF2509, IC2509, and IM2509 oscillated upward, reaching new highs in over three years, while IH2509 oscillated slightly upward with a relatively small increase [2]. - In July, the operating income of industrial enterprises above the designated size increased year-on-year, and the decline in profits continued to narrow. The gross profit of enterprises turned from a decline in June to an increase in July, indicating a continuous improvement in corporate profitability [6]. - The A-share market has seen a continuous increase in popularity recently, and private equity institutions are actively deploying. More than 60% of private equity funds with assets over 10 billion have nearly full positions. However, some private equity institutions have warned that the short-term market volatility may increase [7]. - China's ETF scale has officially entered the 5-trillion era, with the current scale reaching 5.07 trillion yuan, and 101 ETFs having a scale of over 10 billion, and 6 over 100 billion [7]. Summary by Directory Market Outlook - Intraday Forecast: - IF2509 is expected to oscillate strongly and attack resistance levels at 4490 and 4530 points, with support at 4449 and 4425 points [2]. - IH2509 is expected to oscillate strongly and attack resistance levels at 2992 and 2999 points, with support at 2965 and 2951 points [2]. - IC2509 is expected to oscillate strongly and attack resistance levels at 7050 and 7100 points, with support at 6916 and 6900 points [2]. - IM2509 is expected to oscillate strongly and attack resistance levels at 7550 and 7600 points, with support at 7415 and 7381 points [2]. - August Forecast: - The IF main contract in August 2025 is expected to oscillate strongly in a wide range and attack resistance levels at 4535 and 4690 points, with support at 4003 and 3983 points [3]. - The IH main contract in August 2025 is expected to oscillate strongly in a wide range and attack resistance levels at 3050 and 3117 points, with support at 2725 and 2700 points [3]. - The IC main contract in August 2025 is expected to oscillate strongly and attack resistance levels at 7200 and 7400 points, with support at 6070 and 6050 points [3]. - The IM main contract in August 2025 is expected to oscillate strongly and attack resistance levels at 7900 and 8100 points, with support at 6500 and 6450 points [3]. Macroeconomic and Stock Market News - The State Council issued an opinion on in-depth implementation of the "Artificial Intelligence +" action, aiming to achieve wide and deep integration of artificial intelligence with six key areas by 2027 and fully empower high-quality development by 2030 [4]. - In July, the operating income of industrial enterprises above the designated size increased year-on-year, and the decline in profits continued to narrow. The gross profit of enterprises turned from a decline in June to an increase in July [6]. - The Ministry of Commerce will introduce policies to expand service consumption next month, aiming to optimize service supply and stimulate new consumption [6]. - The A-share market has seen a continuous increase in popularity, and private equity institutions are actively deploying. However, the short-term market volatility may increase [7]. - China's ETF scale has officially entered the 5-trillion era, with the current scale reaching 5.07 trillion yuan [7]. - As of the end of July 2025, the total scale of China's public funds reached 35.08 trillion yuan, hitting a new high for the tenth time since early 2024 [7].