1. Report Industry Investment Ratings - The outlook for stock index futures is "oscillating with a bullish bias", for stock index options is "oscillating", and for treasury bond futures is "oscillating with a bearish bias" [6][7] 2. Core Views of the Report - Stock index futures present expanding growth opportunities, with a suggestion to over - allocate small - cap growth styles and hold IM. Stock index options should adopt an offensive strategy, switching to a bull spread portfolio. Treasury bond futures remain under pressure and require caution [6][7][9] 3. Summary by Relevant Catalogs 3.1 Market Views 3.1.1 Stock Index Futures - The basis of IF, IH, IC, IM's current - month contracts are - 6.51 points, - 1.50 points, - 23.56 points, - 18.34 points respectively, with a month - on - month change of 1.66 points, 2.68 points, 0.54 points, 9.59 points. The spreads between the current - month and next - month contracts of IF, IH, IC, IM are 11.2 points, - 1.0 point, 69.4 points, 74.4 points respectively, with a month - on - month change of - 2.4 points, - 0.6 point, - 3.0 points, - 0.8 point. The total positions of IF, IH, IC, IM change by 14212 lots, 6800 lots, 9202 lots, 25544 lots. - The market remained strong on Monday, with the ChiNext Index and the Science and Technology Innovation 100 Index rising nearly 2%. The market volume approached 1.9 trillion. The new energy and computer sectors led the gains. The market focus is on the growth area, showing signs of partial spread, and the trend of capital reallocation is clear. It is recommended to over - allocate small - cap growth styles, and IM is preferred among stock index futures. Potential observation windows are the earnings season in August and the parade in early September [6] 3.1.2 Stock Index Options - The market turnover increased by 40.41%, and the PCR of the CSI 1000 stock index option positions increased by 6.15%. The implied volatility of the CSI 1000 stock index option increased significantly. The market trading sentiment is active, and call options are entering the market. It is recommended to switch to a bull spread portfolio [6] 3.1.3 Treasury Bond Futures - The trading volume of T, TF, TS, TL's current - quarter contracts are 76606 lots, 56309 lots, 34103 lots, 111356 lots respectively, with a one - day change of 17352 lots, 7436 lots, 7715 lots, 22612 lots. The positions are 157180 lots, 108276 lots, 78794 lots, 92576 lots respectively, with a one - day change of - 8769 lots, - 3629 lots, - 3287 lots, - 1193 lots. The spreads between the current - quarter and next - quarter contracts of T, TF, TS, TL are 0.105 yuan, - 0.045 yuan, - 0.038 yuan, 0.430 yuan respectively, with a one - day change of 0, 0.010 yuan, 0.014 yuan, 0.060 yuan. The cross - variety spreads of TF*2 - T, TS*2 - TF, TS*4 - T, T*3 - TL's current - quarter contracts are 102.975 yuan, 98.993 yuan, 300.961 yuan, 206.885 yuan respectively, with a one - day change of - 0.065 yuan, 0.065 yuan, 0.065 yuan, 0.285 yuan. The basis of T, TF, TS, TL's current - quarter contracts are 0.001 yuan, 0.020 yuan, 0.019 yuan, 0.150 yuan respectively, with a one - day change of - 0.039 yuan, - 0.033 yuan, 0.002 yuan, - 0.063 yuan. - The central bank conducted 1120 billion yuan of 7 - day reverse repurchases, with 5448 billion yuan of reverse repurchases maturing. Treasury bond futures closed down across the board. The rise in risk appetite and the strengthening of commodities may pressure the bond market. The tightening of the capital market also had a negative impact on the bond market. Although the bond market has shown some recovery, the bullish sentiment is unstable, and policy factors may cause significant disturbances. Trend strategy: be cautiously bearish. Hedging strategy: focus on short - hedging at low basis levels. Basis strategy: the arbitrage space of the main contracts may be limited. Curve strategy: focus on steepening the yield curve [7][8][9] 3.2 Economic Calendar - The calendar includes economic indicators such as China's July M2 money supply annual rate, new RMB loans from the beginning of the year to July, and social financing scale from the beginning of the year to July, as well as the US July CPI annual rate and PPI annual rate, and China's July total retail sales of consumer goods annual rate [10] 3.3 Important Information and News Tracking - In the field of artificial intelligence and agriculture, a research team proposed the concept of crop - robot collaborative design, developed an intelligent breeding robot, and established an "intelligent robot breeding factory", which is expected to break through the bottleneck of soybean hybrid breeding. - The Ministry of Finance and the State Taxation Administration solicited public opinions on the implementation regulations of the Value - Added Tax Law. - The Central Government Bond Registration and Clearing Co., Ltd. simplified the investment process for overseas central bank - type institutions. - Hangzhou solicited public opinions on a draft regulation to promote the development of the embodied intelligent robot industry, including infrastructure planning, core technology direction, and platform construction [11][12][13]

0:00 记者：胡喆 编导：畅舒婷 新华社音视频部制作 ...

Core Insights - Significant breakthroughs have been achieved in the field of intelligent breeding in China, particularly with the development of the world's first automatic hybrid pollination breeding robot named "Ji'er" [1][3] - The integration of biotechnology and artificial intelligence has enabled the modification of crop flower shapes, facilitating robotic operations and addressing challenges in hybrid breeding [1][3] Group 1: Technological Advancements - The research team has successfully combined breeding robots with cutting-edge technologies such as de novo domestication and breeding accelerators to create an "intelligent breeding factory" capable of rapidly customizing superior varieties [3] - A structural male-sterile line of soybean has been developed, which is expected to lead China in achieving hybrid breeding for soybeans and significantly increase yield [3] Group 2: Research Impact and Recognition - The innovative approach of "biotechnology foundation + artificial intelligence empowerment + robotic labor" marks the establishment of a complete intelligent breeding and seed production technology system in China [3] - The research has been highly praised by reviewers as an exciting innovative breakthrough, exemplifying the intersection of biotechnology and artificial intelligence in solving major scientific and industrial challenges, with broad application prospects [3]

Core Insights - Significant breakthroughs have been achieved in the field of intelligent breeding in China, integrating biotechnology and artificial intelligence to enhance crop breeding processes [1] - The world's first automatic cruising hybrid pollination breeding robot, named "Ji'er," has been successfully developed, addressing challenges in hybrid breeding [1] - This innovation is expected to significantly reduce breeding costs, shorten breeding cycles, and improve breeding efficiency [1] Industry Impact - The integration of AI technology in agricultural practices represents a transformative shift in the breeding industry, potentially leading to increased productivity and sustainability [1] - The publication of the research findings in the journal "Cell" highlights the importance of this advancement in the scientific community and its implications for future agricultural technologies [1]

Group 1 - The core achievement in the field of intelligent breeding in China is the development of the world's first automatic hybrid pollination breeding robot named "Ji'er," which integrates biotechnology and artificial intelligence to facilitate robotic operations in crop breeding [1][2] - This breakthrough addresses significant challenges in hybrid breeding, leading to reduced breeding costs, shortened breeding cycles, and enhanced breeding efficiency [1] - The research team has created a "smart breeding factory" that combines breeding robots with cutting-edge technologies such as domestication and breeding accelerators, enabling rapid customization of superior crop varieties [1] Group 2 - The innovative breeding model established by the research team, which combines biotechnology, artificial intelligence, and robotic labor, signifies the construction of a complete intelligent breeding and seed production technology system in China [2] - The research has been highly praised by reviewers as a groundbreaking innovation that exemplifies the intersection of biotechnology and artificial intelligence in solving major scientific and industrial challenges, showcasing vast application potential [2]

Core Insights - China has made significant breakthroughs in intelligent breeding, integrating biotechnology and artificial intelligence to create the world's first automatic hybrid pollination breeding robot, "Ji'er" [1][2] - This innovation addresses challenges in hybrid breeding, significantly reducing breeding costs, shortening breeding cycles, and enhancing breeding efficiency [1] - The research results were published in the journal "Cell," highlighting the importance of seed technology in driving the green revolution [1] Biotechnology and AI Integration - The research introduces a novel intelligent breeding model that combines biotechnology, artificial intelligence, and robotic labor, establishing a complete technical system for intelligent breeding and seed production in China [2] - The study has been highly praised by reviewers as an innovative breakthrough that exemplifies the potential of AI-driven scientific research to solve major technological and industrial challenges [2] Application and Future Prospects - The development of an intelligent breeding factory allows for rapid customization of superior varieties, with the successful creation of structural male sterile lines in soybeans, potentially leading to significant yield increases in China's soybean hybrid breeding [1]

Core Insights - The research team led by Xu Cao from the Institute of Genetics and Developmental Biology of the Chinese Academy of Sciences has integrated biotechnology (BT) and artificial intelligence (AI) to propose a novel concept of crop-robot collaborative design [1][3] - The team has successfully developed the world's first intelligent breeding robot "GEAIR," capable of automatic cruising hybrid pollination, significantly reducing breeding costs, shortening breeding cycles, and improving breeding efficiency [1][3] Group 1 - The integration of gene editing has allowed for the rapid and precise creation of "robot-friendly" structural male sterile lines in crops [1][3] - The "GEAIR" system has been applied to soybeans, achieving the rapid creation of structural male sterile lines, which is expected to lead to breakthroughs in soybean hybrid breeding and significantly increase yield [3][7] - The research has established a closed-loop technology system for intelligent breeding with independent intellectual property rights in China, marking a significant advancement in the field [3][7] Group 2 - The study has received high praise from reviewers in the journal "Cell," being recognized as an innovative breakthrough that addresses major technological and industrial challenges through the intersection of BT and AI [7] - The research team is working on the "GEAIR 2.0" version and aims to expand the application of structural male sterile lines to different crops, integrating the entire industry chain from breeding to production and traceability [7]

Core Insights - The "Tianshu Plan" aims to decode the genetic information of major crops, specifically rice, wheat, corn, and soybeans, to facilitate intelligent breeding [1][2] - The plan has identified 4,500 core rice germplasm resources, covering over 80% of the core rice planting areas [1] - The initiative is a collaboration between the Chinese Academy of Agricultural Sciences, the National Crop Germplasm Resource Bank, and Tencent, with the second phase, "Tianshu Plan 2.0," launched in May 2023 [1] Germplasm Construction - The construction of core germplasm will involve genotype identification of 223,000 germplasm resources across the four major crops, ensuring coverage of over 95% of genetic diversity [2] - A standardized process for core germplasm selection will be established, incorporating excellent foreign germplasm [2] Genetic Decoding and Breeding Models - The focus will be on integrating phenotype, environmental, and genotype datasets to create a comprehensive crop genome map, breaking the limitations of single genomes [2] - The plan will explore the formation rules of crop phenotypes and develop relevant models to decode genetic information [2] Intelligent Breeding Platform - An open intelligent breeding platform will be established, integrating a gene bank, breeding tools, and a big data platform to serve domestic agricultural research institutions and enterprises [2] - A collaborative network will be created to ensure data security and promote efficient resource and technology utilization [2] Implementation Timeline - "Tianshu Plan 2.0" is set to be implemented over three years, from 2023 to December 2027, with the goal of selecting 10,000 core germplasm resources in the first year [2] - The second year will focus on field genotype and phenotype identification, while the third year will involve building the intelligent breeding platform through data mining model construction [2]

Group 1 - The forum on "AI Empowering High-Quality Development of Seed Industry" was successfully held, focusing on the integration of AI technology with modern seed industry, attracting over 100 representatives from academia, industry, and research [1][3] - AI is seen as a key engine for achieving breakthroughs in the seed industry, particularly in core breeding processes such as gene mining, phenotypic analysis, parent selection, and variety design [1][3] - The Beijing International Seed Industry Technology Park is building an intelligent breeding industry ecosystem to promote the industrialization of intelligent breeding [3][4] Group 2 - The "Heavenly Book Plan" for crop germplasm resources was introduced, which aims to utilize AI for genetic information analysis and accelerate the discovery of superior genes and variety design [5][7] - The plan includes the establishment of a data-sharing platform and the selection of core germplasm, with an initial completion of 10,000 core germplasm selections [5] - The forum highlighted the importance of collaboration among government, enterprises, and research institutions to foster innovation in the seed industry [3][4] Group 3 - The forum featured discussions on the challenges faced in the new breeding era, including the lack of training data and the need for AI-driven precision breeding [7] - Companies like Changsha Bai'ao Cloud Data Technology Co., Ltd. are developing platforms to centralize breeding data management and facilitate AI breeding model construction [7] - The integration of high-throughput molecular detection, rapid breeding, and gene editing technologies is being emphasized to lower R&D barriers and support industry innovation [7][8]

Core Insights - The "Fengdeng Rice" model, the world's first large language model specifically designed for rice breeding, has been officially launched, integrating a comprehensive rice biological knowledge graph and establishing the largest rice research corpus globally [1][2] - The model aims to enhance the efficiency and quality of agricultural breeding research by providing a deep understanding of crop biology and specialized reasoning capabilities [1][2] Group 1: Model Development - The research team has constructed the largest rice research corpus, integrating over 1.4 million Chinese and English publications, covering more than 98% of published results in the field [2] - The "Fengdeng" model was developed based on Alibaba's Tongyi Qianwen model, with continuous training and fine-tuning processes [2] - An automated evaluation dataset, SeedBench, was created, containing 1,975 question-answer pairs across 10 task categories, demonstrating the model's superior accuracy compared to mainstream models [2] Group 2: Evaluation and Performance - A high-quality human evaluation dataset, HumanDesignRiceQA, was designed with 253 specialized questions focusing on key topics such as gene function and molecular design breeding, evaluated by 326 reviewers, including 83 senior experts in rice research [2] - The results indicate that the "Fengdeng" model outperforms OpenAI's GPT-4 and the average performance of undergraduate students in terms of answer quality [2] Group 3: Knowledge Graph and Practical Applications - The research team has also developed the world's first rice multi-omics knowledge graph, integrating data from 1,879 publications related to rice transcriptomics and proteomics, encompassing over 400,000 nodes and 1.57 million edges [3] - The model's capabilities in language understanding and knowledge reasoning position it as a critical tool for supporting rice research and intelligent breeding [3] - The "Fengdeng" service enables collaborative reasoning across structured graphs, allowing for precise queries and integration of multidimensional evidence [3]