深度学习因子2月超额1.50%，本周热度变化最大行业为钢铁、环保：市场情绪监控周报（20260224-20260227）

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The deep learning factor achieved an excess return of 1.50% in February, with the highest heat change observed in the steel and environmental protection sectors [1] - The top 5 industries with positive heat change this week include steel, environmental protection, public utilities, computer, and building materials [2] - The rolling 5-year historical valuation percentiles for major indices are as follows: CSI 300 at 91%, CSI 500 at 100%, and CSI 1000 at 100% [3] Summary by Sections Deep Learning Factor Tracking - A long position portfolio based on the DecompGRU model has generated a cumulative absolute return of 84.37% and an excess return of 43.11% relative to the equal-weighted CSI All Share Index since its inception [10] - The ETF rotation portfolio has achieved a cumulative absolute return of 53.40% and an excess return of 17.47% relative to the Wind ETF Index [13] Market Sentiment Tracking - The CSI 1000 index experienced the highest heat change rate this week, increasing by 3.63%, while the CSI 2000 index saw a decrease of 2.85% [24] - The top 5 concepts with the largest heat change include fertilizers, phosphorus chemicals, cultivated diamonds, rare earth permanent magnets, and rural e-commerce [36] Market Valuation Monitoring - The current valuation of several primary industries is above the historical 80th percentile, including power equipment, electronics, building materials, light industry manufacturing, environmental protection, and steel [45][46] - Industries with valuations below the historical 20th percentile include food and beverage, comprehensive, and non-bank financials [45] Event Tracking - This week, there were 9 stock incentive events, 18 significant shareholder buy/sell events, and 5 private placement events [50][51][53] - Analysts initiated coverage on 12 stocks and upgraded ratings for 3 stocks this week [55][57]