Ruida Futures(SZ:002961) Rui Da Qi Huo·2026-01-21 09:14Report Industry Investment Rating - Not provided in the given content Core Viewpoints - A股 major indices closed generally higher with a retreat after an initial rise, small and mid - cap stocks outperformed large - cap blue - chip stocks, and among the four broad - based indices, CSI 500 was the strongest. The trading volume in the Shanghai and Shenzhen stock markets declined, and over 3,000 stocks rose. Most industry sectors advanced, with non - ferrous metals and electronics leading the gains and the banking sector leading the losses. [3] - Overseas, on January 17th, the US imposed tariffs on 8 European countries over the Greenland issue, increasing market distrust of US dollar assets and causing the US dollar index to weaken recently. Domestically, the Q4 GDP further declined, but the annual 5% economic growth target was achieved. In December, except for the added value of industrial enterprises above the designated size, fixed - asset investment, social retail sales, and exports all declined compared to November. [3] - Among the companies that have released their 2025 performance forecasts, only about one - third are expected to have positive results, and most profit - promising companies are concentrated in high - tech industries such as artificial intelligence. The A - share market still has many positive factors. Industrial production is growing steadily driven by industries representing new productive forces, weakening the negative impact of the decline of other economic indicators on the market. The annual report performance forecasts of listed companies also reflect this phenomenon. The CSI 500 index is significantly boosted as aerospace and artificial - intelligence - related listed companies have the largest weight in it. The RMB is in an appreciation channel, and the strong RMB exchange rate supports the expectation of loose monetary policy in Q1, and the stock market is gradually converging with the foreign exchange market. The spring market is still advancing. [3] Summary by Relevant Catalogs Futures Market - Futures Contract Prices: IF (CSI 300) main contract (2603) was at 4722.8, up 19.4; IH (SSE 50) main contract (2603) was at 3073.6, down 0.4; IC (CSI 500) main contract (2603) was at 8371.0, up 155.4; IM (CSI 1000) main contract (2603) was at 8231.0, up 140.0. [2] - Futures Contract Spreads: IF - IH current - month contract spread was 1654.4, up 17.4; IC - IF current - month contract spread was 3649.0, up 101.8; IM - IC current - month contract spread was - 113.2, down 17.6. [2] - Futures - Spot Seasonal Spreads: IF current - season - to - current - month was - 36.4, up 0.2; IH current - season - to - current - month was 0.2, up 4.2; IC current - season - to - current - month was - 103.4, up 12.4; IM current - season - to - current - month was - 208.4, up 7.8. [2] - Futures Net Positions of Top 20: IF top 20 net positions were - 38,987.00, down 1188.0; IH top 20 net positions were - 19,109.00, up 164.0; IC top 20 net positions were - 41,493.00, up 4060.0; IM top 20 net positions were - 51,306.00, up 3816.0. [2] Spot Market - Spot Index Prices: CSI 300 was at 4723.07, up 4.2; SSE 50 was at 3,067.2, down 3.5; CSI 500 was at 8,340.1, up 92.3; CSI 1000 was at 8,247.7, up 64.9. [2] - Futures - Spot Basis: IF main contract basis was - 0.3, up 10.0; IH main contract basis was 6.4, up 1.7; IC main contract basis was 30.9, up 29.9; IM main contract basis was - 16.7, up 45.3. [2] Market Sentiment - A - share trading volume was 26,237.47 billion yuan, down 1804.88 billion yuan; margin trading balance (previous trading day) was 27,093.59 billion yuan, down 138.16 billion yuan; north - bound trading volume (previous trading day) was 3437.68 billion yuan, up 199.98 billion yuan; reverse repurchase (maturity amount, operation amount) was - 2408.0 billion yuan, up 3635.0 billion yuan; net inflow of main funds was - 1068.43 billion yuan, up 56.36 billion yuan; the proportion of rising stocks was 56.58%, up 15.79 percentage points; Shibor was 1.322%, down 0.052 percentage points. [2] Industry News - In 2025, GDP was 1401879 billion yuan, up 5.0% year - on - year. In Q4, GDP grew 1.2% quarter - on - quarter. In December 2025, the added value of industrial enterprises above the designated size increased 5.2% year - on - year and 0.49% month - on - month. In 2025, it increased 5.9% year - on - year. National fixed - asset investment (excluding rural households) was 485186 billion yuan, down 3.8% year - on - year. National real estate development investment decreased 17.2% year - on - year. New commercial housing sales area decreased 8.7% year - on - year, and sales volume was 83937 billion yuan, down 12.6% year - on - year. In December, the real - estate climate index was 91.45. In December, social retail sales were 45136 billion yuan, up 0.9% year - on - year. In 2025, it was 501202 billion yuan, up 3.7% year - on - year. The average urban survey unemployment rate in 2025 was 5.2%, and in December it was 5.1%. [2] - In January 2026, the 1 - year LPR was 3.0%, and the over - 5 - year LPR was 3.5%, remaining stable for eight consecutive months since May 2025. [2] - As of January 21, 2026, 541 A - share listed companies disclosed their 2025 performance forecasts, with 189 (pre - increase: 130, slight increase: 22, turnaround from loss: 35, continued profit: 2) having positive forecasts, a positive forecast ratio of 34.93%, 351 with negative forecasts, and 1 with uncertain performance. [2]