Product Offering - Meitou Pro offers 50 in-depth stock analysis and tracking videos annually [1] - Meitou Pro provides access to a professional analyst team and a community of over 1,000 members for collaborative discussions [1] - Meitou Pro shares daily investment perspectives, professional data, and trading summaries [1] - Meitou Pro's video library contains over 120 videos and more than 10,000 investment viewpoints [1] Content Focus - The content covers various investment topics, including post-modern cycles, electric vehicle investments, strategies to outperform Wall Street, and the US Treasury bond market [1] - The content also addresses quantitative risk assessment and management [1] - The content includes educational series on options trading, covering introductory concepts, practical demonstrations, and strategies for using traditional stocks in options trading [1] - The content provides insights into investment strategies, such as determining a company's intrinsic value, risk mitigation, wealth accumulation, dividend stock investing, and the utility of technical analysis [1] - The content explores investment psychology, aiming to help investors develop a rational and unemotional approach [1] Channels and Contact - Meitou team operates other YouTube channels, including "Meitou Kan Xinwen" and "Meitou Jiang Qiquan" [1] - Business cooperation can be reached via meitouinvesting@gmailcom [1] - The WeChat official account is Meitou_Investing, and the WeChat ID is meitoujiangmeigu [1]

黄金技术面分析：黄金看涨不追高，需要等待回来做多，并且上涨中不猜顶，能涨到哪里，就看到哪里。从技术面来看，黄金的日线和走起四连阳，趋势力 度比较明确，暂时的上涨空间还没有走完，上方*在日线布林上轨3430附近，这个价位可能在本周试探一下，如果要说大涨，暂时还看不出来，等日线布林 拉开后才有可能。H4周期依旧是单边走势，均线系统向上发散，布林开口，上轨的高压在3415附近，所以，周三继续看涨，黄金的高点在3415，3430。能 不能大涨突破前面的高点暂时不用猜，市场给出什么样的表现就做什么样的交易即可。小周期日内的支撑关注两个点，一个是3358，一个是3350，亚欧盘在 调整结束后，可以根据实际情况再做有效多单，预计节奏上还是美盘上涨。综合来看，今日黄金短线操作思路上贺博生建议以回调做多为主，反弹高空为 辅，上方短期重点关注3385-3395一线阻力，下方短期重点关注3350-3340一线支撑。 投资市场永远有四个层次：保住本金，控制风险，赚取收益，长期稳定持续赢利。不要因为一天的输赢定结果，赚钱是偶然还是必然，是凭真功夫还是凭运 气，在市场上能活着的肯定是最终能够长期持续赢利的投资者。交易就是一个好的习惯，严 ...

Trade Policy & Tariffs - The US government announced a 100% tariff on all imported products containing semiconductors, with exemptions for companies that have already or explicitly committed to transferring production to the US [1] - Companies building or in the process of building factories in the US will be exempt from the semiconductor tariff [1] - Apple is expected to be largely unaffected by tariffs imposed on India [1] Investment & Production - Apple CEO confirmed an additional $100 billion investment in the US, increasing the total investment to $600 billion over the next four years [1] - Apple will significantly increase spending on its US iPhone supply chain [1] - Apple plans to build the world's largest and most advanced [1] Supply Chain Strategy - Apple is committed to optimizing its supply chain and will "do more in the US" [1]

Core Viewpoint - The document outlines the investment and financing management rules of Tiandi Source Co., Ltd, aiming to enhance corporate governance and ensure effective decision-making in investment, financing, and asset management [2][3]. Investment and Financing Principles - The company emphasizes lawful and standardized decision-making and implementation in its investment and financing activities [2]. - Investment activities include acquiring land use rights and real estate projects, while financing encompasses various methods of raising funds [2][3]. Decision-Making Authority and Procedures - Investment decision-making authority is primarily determined by the project investment amount [5]. - The decision-making process involves the board of directors or shareholders' meeting, depending on the investment's significance [5][6]. - Prior to making investment decisions, the president must conduct research on the project's profitability, development prospects, and legal risks, followed by a written report [5][6]. Land Use Rights and Project Acquisition - The company can estimate the total amount for land use rights to be acquired through bidding within the next 12 months and must follow disclosure and review procedures based on this estimate [7][8]. Equity Investment and Financial Management - Equity investments and entrusted financial management require shareholder approval if they meet specific thresholds related to total assets, net assets, or net profits [8][9]. - Investments below these thresholds can be approved by the board of directors [8][9]. Financing Decision Authority - Financing through new stock issuance, bonds, or other equity instruments requires approval from the board and shareholders [9][10]. - Borrowing or fundraising amounts reaching 50% of the company's audited total assets must be approved by the shareholders' meeting [9][10]. External Guarantees and Asset Management - Providing guarantees for other entities requires board or shareholder approval, with specific conditions outlined for such guarantees [10][11]. - Asset purchases and sales must also be approved by the board or shareholders, excluding routine operational transactions [11][12]. Financial Assistance Decision Authority - Financial assistance transactions require approval from a majority of the board and must be disclosed [12][13]. - Specific conditions apply for financial assistance to related parties, ensuring compliance with regulations [12][13].

Core Viewpoint - The article reflects on the author's personal experience with a property demolition and the subsequent financial gains, highlighting the impact of local government policies on real estate and personal investment strategies [1][3]. Group 1: Property Demolition Experience - The demolition process took two years, with the author receiving a total compensation of 2.88 million yuan, which was primarily in cash [1]. - The author worked in a local state-owned enterprise and did not face significant challenges during the demolition process, indicating strong governmental influence in expediting the compensation [2]. - The property was a self-built house from the 1970s, located in a central area, which contributed to its value during the demolition [1]. Group 2: Financial Gains and Investment Strategy - The author started with 3 million yuan in the stock market and, after receiving the demolition compensation, had a total of 5.8 million yuan, which later grew to over 14 million yuan within two years [3]. - The timing of the demolition was fortunate, as it occurred before a significant downturn in the real estate market, allowing the author to capitalize on the last high point of property values [3][4]. - The author chose not to invest in real estate immediately after receiving the compensation, respecting the wife's preference and considering the overall market conditions [4]. Group 3: Economic and Market Insights - The article discusses the negative consequences of local government policies, particularly the reliance on state-owned enterprises to support the real estate market, which has led to financial strain on local governments [4]. - The author notes that the compensation process was complicated by the local government's financial issues, leading to delays in receiving the promised funds [4]. - The overall investment strategy has been influenced by a combination of market understanding and personal circumstances, with the author acknowledging the role of luck in their financial success [4][5].

Group 1: Gold Futures Market - The total amount of gold futures in the Shanghai Futures Exchange is 35,643 kilograms, with an increase of 2,181 kilograms compared to the previous day [1] - The main gold futures opened at 771.30 CNY per gram, with a high of 772.44 CNY and a low of 766.86 CNY, currently trading at 770.28 CNY, reflecting a change of 0.37% [1] - Trading volume reached 260,701 contracts, with an open interest of 217,080 contracts, increasing by 2,975 contracts for the day [1] Group 2: Pakistan-US Trade Agreement - A new trade agreement between Pakistan and the US aims to enhance bilateral trade, expand market access, and attract investment, particularly in energy, minerals, IT, and cryptocurrency sectors [1] - The agreement includes a reduction in reciprocal tariffs, especially on goods exported from Pakistan to the US, although specific tariff rates were not disclosed [1] - The Finance Minister of Thailand expects to receive information on US tariff rates within 24 hours [1]

Economic Overview - China's GDP exceeded 66 trillion yuan in the first half of the year, growing by 5.3% year-on-year, laying a solid foundation for the annual target of around 5% [1] - In the second quarter, the economy grew by 5.2% year-on-year, with exports increasing by 7.2%, indicating resilience despite the impact of high tariffs from the U.S. [1][2] - Retail sales of consumer goods showed a rebound, supported by policies encouraging the replacement of old products [1][2] Investment Trends - Investment growth has slowed, particularly in infrastructure and manufacturing, with real estate investment continuing to decline [1][4] - The profit margins of large industrial enterprises have decreased compared to the previous year, indicating a decline in investment returns [4] - There is a need for stronger investment policies to support growth, as private investment has turned negative [4] Export and Trade Dynamics - Exports in the first half of the year increased by 5.9% year-on-year in dollar terms, outperforming expectations despite ongoing trade tensions with the U.S. [3] - The competitiveness of Chinese products has improved, transitioning from a traditional extensive development model to a more innovative and intensive approach [3] Consumer Spending Outlook - Consumer spending is expected to maintain steady growth, supported by various policies including a 1.38 billion yuan fund for replacing old consumer goods [4][7] - Long-term strategies to boost consumption include increasing residents' income and improving social security systems [8] Real Estate Market - The real estate market is experiencing increased sales area and sales volume declines, necessitating stronger measures to stabilize the market [9][10] - Policies to support real estate developers, such as debt restructuring and inventory management, are expected to be implemented [9][10] Policy Recommendations - A more proactive fiscal policy and moderately loose monetary policy are essential to stimulate demand and improve market expectations [5][6] - The government may consider interest rate cuts to alleviate the financial burden on enterprises [6] Market Competition and Regulation - There is a need to address "involution" in competition, which has led to disorderly price competition and reduced investment returns [11] - Regulatory measures should be implemented to ensure fair pricing and restore market self-regulation capabilities [11]

Report Industry Investment Rating - No relevant content provided Core View of the Report - Although China's economic fundamentals were still under pressure in June, financial data showed that the effects of loose monetary policy had emerged and might be reflected in subsequent economic indicators. The third trade negotiation provided more flexibility for the market. However, after the Politburo meeting, without any unexpected policies, market bulls might take profit, and stock index futures were expected to enter a wide - range shock. It was recommended to wait and see [2] Summary by Relevant Catalogs Futures Disk - IF main contract (2509) closed at 4136.4, up 1.8; IF sub - main contract (2508) closed at 4147.0, up 1.6. IH main contract (2509) closed at 2820.0, up 7.8; IH sub - main contract (2508) closed at 2821.4, up 9.0. IC main contract (2509) closed at 6215.4, down 26.2; IC sub - main contract (2508) closed at 6271.2, down 26.8. IM main contract (2509) closed at 6604.2, down 28.8; IM sub - main contract (2508) closed at 6675.6, down 29.8 [2] - IF - IH current - month contract spread was 1325.6, down 14.6; IC - IF current - month contract spread was 2124.2, down 40.8. IM - IC current - month contract spread was 404.4, down 8.8; IC - IH current - month contract spread was 3449.8, down 55.4. IM - IF current - month contract spread was 2528.6, down 49.6; IM - IH current - month contract spread was 3854.2, down 64.2 [2] - IF current - quarter minus current - month was - 41.8, up 1.0; IF next - quarter minus current - month was - 72.6, up 1.6. IH current - quarter minus current - month was - 1.2, down 3.6; IH next - quarter minus current - month was 0.2, down 3.2. IC current - quarter minus current - month was - 192.2, up 2.8; IC next - quarter minus current - month was - 316, up 5.4. IM current - quarter minus current - month was - 260.4, down 1.2; IM next - quarter minus current - month was - 425.8, down 0.8 [2] Futures Position - IF top 20 net positions were - 26,574.00, down 2773.0; IH top 20 net positions were - 14,691.00, down 262.0. IC top 20 net positions were - 11,447.00, down 1360.0; IM top 20 net positions were - 37,384.00, down 2167.0 [2] Spot Price - CSI 300 was at 4151.24, down 0.8; IF main contract basis was - 14.8, down 4.2. SSE 50 was at 2819.35, up 10.8; IH main contract basis was 0.7, down 4.8. CSI 500 was at 6314.69, down 41.5; IC main contract basis was - 99.3, down 6.2. CSI 1000 was at 6718.48, down 55.4; IM main contract basis was - 114.3, down 2.4 [2] Market Sentiment - A - share trading volume (daily, billion yuan) was 18,709.76, up 416.67; margin trading balance (previous trading day, billion yuan) was 19,826.41, up 156.08. Northbound trading volume (previous trading day, billion yuan) was 2334.31, up 67.60; reverse repurchase (maturity, operation volume, billion yuan) was - 1505.0, up 3090.0. Main funds (yesterday, today, billion yuan) were - 399.83 and - 792.11 respectively [2] - The proportion of rising stocks (daily, %) was 31.62, down 9.75; Shibor (daily, %) was 1.317, down 0.049. IO at - the - money call option closing price (2508) was 52.00, down 9.60; IO at - the - money call option implied volatility (%) was 14.42, down 1.22. IO at - the - money put option closing price (2508) was 54.00, down 4.20; IO at - the - money put option implied volatility (%) was 14.42, down 1.22. CSI 300 index 20 - day volatility (%) was 6.52, up 0.02; trading volume PCR (%) was 63.76, up 5.52; open interest PCR (%) was 75.91, up 3.25 [2] Wind Market Strength and Weakness Analysis - All A - shares were at 3.80, down 1.60; technical aspect was at 3.20, down 0.90; capital aspect was at 4.40, down 2.20 [2] Industry News - The Political Bureau of the CPC Central Committee decided to hold the Fourth Plenary Session of the 20th CPC Central Committee, and emphasized that macro - policies should continue to exert force and increase force in due course. It was necessary to implement more proactive fiscal policies and moderately loose monetary policies, release domestic demand potential, boost consumption, promote "two major" construction, expand high - level opening - up, and resolve local government debt risks [2] - From July 28th to 29th, Chinese and US economic and trade leaders held talks in Stockholm. The two sides agreed to extend the suspension of 24% of the US reciprocal tariffs and China's counter - measures for 90 days [2] Key Data to Focus On - On July 30th at 20:15, focus on US ADP employment in July; at 20:30, focus on US Q2 GDP; at 21:45, focus on Bank of Canada interest rate decision. On July 31st at 2:00, focus on Fed interest rate decision; at 9:30, focus on China's July manufacturing, non - manufacturing, and composite PMI; at 10:47, focus on Bank of Japan interest rate decision; at 20:30, focus on US June PCE and core PCE. On August 1st at 9:45, focus on China's July Caixin manufacturing PMI; at 20:30, focus on US July non - farm payrolls report; at 22:00, focus on US July ISM manufacturing PMI [3]

Group 1: Economic Sentiment - Over half of entrepreneurs and bankers view the current macroeconomic performance as stable and normal, holding a neutral to cautious attitude towards the overall economy [1] - The entrepreneur's business climate index and profit index both increased compared to the previous quarter, indicating a slight improvement in sentiment [3] - The banker macroeconomic heat index decreased to 33.2%, with 61.9% of bankers considering the macroeconomic performance normal [4] Group 2: Price and Production Trends - The Producer Price Index (PPI) continues to show a year-on-year decline, with a significant percentage of entrepreneurs reporting stable product sales and raw material prices compared to the previous quarter [3] - The overall demand for loans has decreased, reflecting a cautious outlook in the banking sector [5] Group 3: Consumer Behavior - In a survey of urban residents, nearly 70% reported that their income remained unchanged in the second quarter, with a cautious outlook on employment [6] - The majority of residents expect prices and housing prices to remain stable in the next quarter, indicating a lack of inflationary pressure [6] - The top spending priority for residents in the next three months is tourism, surpassing education, with 32.1% planning to increase spending in this area [9]

Economic Overview - The GDP of Tai'an City in Shandong Province grew by 6.2% year-on-year in the first half of the year, reaching 192.34 billion yuan [1] - The total retail sales of social consumer goods increased by 7.6% year-on-year [1] - The total output value of the construction industry rose by 5.7% year-on-year [1] Industry Performance - The agricultural, forestry, animal husbandry, and fishery sector achieved a total output value of 42.08 billion yuan, growing by 4.5% year-on-year [2] - The industrial production value for large-scale enterprises increased by 7.6% year-on-year, with manufacturing leading at 9.3% growth [2] - The construction industry completed a total output value of 61.03 billion yuan, with significant contributions from installation and construction projects [2] Service Sector Growth - The revenue of large-scale service enterprises reached 16.21 billion yuan from January to May, marking an 11.0% year-on-year increase [3] - Among the ten major service sectors, eight experienced positive revenue growth, with seven sectors achieving double-digit growth [3] Investment and Consumption - Fixed asset investment in Tai'an increased by 5.1% year-on-year, with industrial investment rising by 23.3% [4] - Social retail sales of consumer goods grew by 7.6%, with significant contributions from home appliances and food categories [4] Foreign Trade - The total import and export value reached 29.22 billion yuan, reflecting an 18% year-on-year increase, with exports growing by 27.9% [5] - New markets in Africa and Latin America contributed significantly to export growth [5] Financial Stability - The general public budget revenue was 16.62 billion yuan, up by 4.2% year-on-year, while expenditures increased by 5.0% [6] - By the end of June, the balance of deposits in financial institutions reached 738.91 billion yuan, growing by 10.5% [7] Energy Consumption - Total electricity consumption was 14.43 billion kWh, with industrial and service sectors showing growth of 2.0% and 4.9% respectively [7]