Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-11-05 08:43Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core View of the Report - The overall performance of A-share Q3 reports is good, providing bottom support for the market. However, the decline in domestic manufacturing prosperity in October may suppress subsequent market trends. There is a sense of "good news exhausted" in the market, and the pressure on the RMB exchange rate restricts the loose monetary policy. It is recommended to wait and see for now [2]. 3. Summary by Relevant Catalogs 3.1 Futures Disk - Contract Prices: IF (2512) latest price is 4596.6, up 18.8; IH (2512) is 3002.6, down 0.4; IC (2512) is 7108.0, up 38.8; IM (2512) is 7310.8, up 56.0. Their corresponding secondary contracts also have varying price changes [2]. - Contract Spreads: IF - IH, IC - IF, IM - IC, IC - IH, IM - IF, and IM - IH monthly contract spreads all increased, while the spreads between quarterly and monthly contracts showed mixed trends [2]. - Futures Positions: IF and IC top 20 net positions decreased, while IH and IM top 20 net positions increased [2]. 3.2 Spot Price - Index Prices: The Shanghai - Shenzhen 300 index is 4627.26, up 8.6; the Shanghai 50 index is 3008.0, down 5.0; the CSI 500 index is 7229.3, up 18.5; the CSI 1000 index is 7464.9, up 29.1 [2]. - Basis: The basis of IF, IH, IC, and IM main contracts all decreased [2]. 3.3 Market Sentiment - Trading Volume and Balance: A - share trading volume decreased by 440.55 billion yuan to 18,943.40 billion yuan; margin trading balance decreased by 31.40 billion yuan to 24,916.23 billion yuan. North - bound trading volume decreased by 268.32 billion yuan to 2409.10 billion yuan [2]. - Other Indicators: The proportion of rising stocks increased by 32.15 percentage points to 62.07%; Shibor remained unchanged at 1.315%. Option prices and implied volatilities generally decreased, while PCRs of trading volume and positions increased [2]. 3.4 Industry News - PMI Data: In October, the manufacturing PMI was 49.0%, down 0.8 percentage points from the previous month; the non - manufacturing business activity index was 50.1%, up 0.1 percentage points; the composite PMI output index was 50.0%, down 0.6 percentage points [2]. - Corporate Earnings: As of October 31, 2025, the total revenue of A - share listed companies in the first three quarters was 53.41 trillion yuan, a year - on - year increase of 1.20%; the net profit attributable to shareholders was 4.70 trillion yuan, a year - on - year increase of 5.34%. The profit growth rate in Q3 reached 11.30%, up 10.19 percentage points from Q2 [2]. - Market Performance: Most A - share major indices closed higher. The Shanghai Composite Index rose 0.23%, the Shenzhen Component Index rose 0.37%, and the ChiNext Index rose 1.03%. Overseas, Powell's statement weakened the market's expectation of a December interest rate cut [2]. 3.5 Key Data to Watch - November 5, 21:15: US October ADP employment data; November 7, 9:30: China's October trade data; November 9, 9:30: China's October CPI and PPI [3].