Group 1 - The latest stock price of Guosheng Jinkong is 20.48 yuan, an increase of 0.47 yuan from the previous trading day [1] - The stock reached a maximum of 22.01 yuan and a minimum of 19.07 yuan during the trading session, with a trading volume of 2,782,938 hands and a transaction amount of 5.641 billion yuan [1] - Guosheng Jinkong operates in the securities industry, with its main business covering securities, investment, and asset management [1] Group 2 - On August 15, Guosheng Jinkong's stock price experienced rapid fluctuations, with a drop of over 2% within 5 minutes around 9:30 AM, followed by a rebound of over 2% within 5 minutes around 10:12 AM [1] - The net outflow of main funds on that day was 45.44964 million yuan, accounting for 1.37% of the circulating market value [1] - Over the past five trading days, the cumulative net inflow of main funds was 26.98492 million yuan, representing 0.81% of the circulating market value [1]

Quantitative Models and Construction Methods 1. Model Name: Industry Crowding Monitoring Model - **Model Construction Idea**: This model is designed to monitor the crowding levels of Shenwan First-Level Industry Indices on a daily basis, identifying industries with high or low crowding levels to provide actionable insights[3] - **Model Construction Process**: The model calculates the crowding levels of various industries based on specific metrics (not detailed in the report) and ranks them accordingly. For example, the report highlights that the building materials, military, and non-ferrous industries had high crowding levels, while coal, petrochemical, and transportation had low crowding levels on the previous trading day[3] - **Model Evaluation**: The model provides a useful tool for identifying industry trends and potential investment opportunities by analyzing crowding dynamics[3] 2. Model Name: Premium Rate Z-Score Model - **Model Construction Idea**: This model is used to screen ETF products by calculating their premium rate Z-scores, identifying potential arbitrage opportunities while also warning of potential pullback risks[4] - **Model Construction Process**: The model employs a rolling calculation of the Z-score of the premium rate for various ETF products. The Z-score is calculated as: $ Z = \frac{(X - \mu)}{\sigma} $ where $ X $ is the current premium rate, $ \mu $ is the mean premium rate over a rolling window, and $ \sigma $ is the standard deviation of the premium rate over the same window. This helps identify ETFs with significant deviations from their historical norms[4] - **Model Evaluation**: The model is effective in identifying ETFs with potential arbitrage opportunities and provides a risk management tool for investors[4] --- Model Backtesting Results 1. Industry Crowding Monitoring Model - **Top Crowded Industries**: Building materials, military, and non-ferrous industries had the highest crowding levels on the previous trading day[3] - **Least Crowded Industries**: Coal, petrochemical, and transportation industries had the lowest crowding levels on the previous trading day[3] 2. Premium Rate Z-Score Model - **Application Example**: The model flagged specific ETFs for potential arbitrage opportunities, such as the Battery Leaders ETF (159767.SZ), which tracks the New Energy Battery Index and has a fund size of 1.13 billion yuan[14] --- Quantitative Factors and Construction Methods No specific quantitative factors were detailed in the report beyond the models described above --- Factor Backtesting Results No specific backtesting results for individual factors were detailed in the report beyond the models described above

| | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净流入 游资净占比 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-15 | 15.53 | 1.44% | -405.10万 | -4.57% | 200.31万 | 2.26% | 204.79万 | 2.31% | | 2025-08-14 | | 15.31 -3.16% | -1539.40万 | -11.29% | 437.21万 | 3.21% | 1102.20万 | 8.09% | | 2025-08-13 | 15.81 | -0.25% | 257.91万 | 2.64% | -128.01万 | -1.31% | -129.91万 | -1.33% | | 2025-08-12 | 15.85 | -1.37% | -3416.80万 | -28.27% | 1134.43万 | 9.39% | 2282.36万 | 18.88% | | 2025-08-11 | 16.07 | 1.26% | -51 ...

资金流向方面，今日主力资金净流出2685.01万元，占比成交额3.35%。其中，超大单净流出367.25万 元、占成交额0.46%，大单净流出2317.76万元、占成交额2.89%，中单净流出流出2366.88万元、占成交 额2.95%，小单净流入5051.88万元、占成交额6.31%。 金融界消息 截至2025年8月15日收盘，TCL中环（002129）报收于8.22元，上涨3.27%，换手率2.43%， 成交量98.32万手，成交金额8.01亿元。 TCL中环最新一期业绩显示，截至2025一季报，公司营业总收入61.01亿元、同比减少38.58%，归属净 利润190634.77万元，同比减少116.67%，扣非净利润197559.60万元，同比减少90.26%，流动比率 1.223、速动比率0.972、资产负债率64.32%。 来源：金融界 天眼查商业履历信息显示，TCL中环新能源科技股份有限公司，成立于1988年，位于天津市，是一家以 从事电气机械和器材制造业为主的企业。企业注册资本404266.9215万人民币，实缴资本71931.27万人民 币。公司法定代表人为王彦君。 通过天眼查大数据分析，TCL ...

Group 1 - The core viewpoint of the news is that Zhaolong Interconnect (300913) has shown positive financial performance with significant revenue and profit growth in the latest quarterly report [1] - As of August 15, 2025, Zhaolong Interconnect's stock price closed at 51.67 yuan, reflecting a 0.47% increase, with a trading volume of 10.63 million shares and a transaction amount of 547 million yuan [1] - The company's latest quarterly report indicates total operating revenue of 448 million yuan, a year-on-year increase of 21.54%, and a net profit attributable to shareholders of 32.59 million yuan, up 85.12% year-on-year [1] Group 2 - Zhaolong Interconnect has a current liquidity ratio of 4.112 and a quick ratio of 2.822, indicating strong short-term financial health [1] - The company has a low debt-to-asset ratio of 16.18%, suggesting a conservative approach to leveraging [1] - Zhaolong Interconnect has made investments in 6 companies and participated in 42 bidding projects, showcasing its active engagement in business expansion [2]

投资咨询业务资格：证监许可【2011】1778 号 国债期货 | 日报 2025 年 8 月 15 日 国债期货 专业研究·创造价值 短期内国债期货维持震荡整理 宝城期货投资咨询部 从业资格证号：F3035632 投资咨询证号：Z0014648 电话：0571-87006873 核心观点 今日各国债期货均震荡整理，微幅收跌。虽然中长期货币政策偏向支持 性，政策利率上升的可能性较低，但是目前宏观经济表现较强韧性，外部风 险因素也暂时缓解，加上央行对消费领域推出贷款贴息政策，短期内全面降 息可能性较低。近期股市风险偏好持续上升，资金由债转股，资金面购买国 债的需求受到抑制。总的来说，短期内国债期货震荡整理为主。 （仅供参考，不构成任何投资建议） 姓名：龙奥明 邮箱：longaoming@bcqhgs.com 国债期货 | 日报 1 行业新闻及相关图表 8 月 14 日，央行发布公告：为保持银行体系流动性充裕，2025 年 8 月 15 日， 中国人民银行将以固定数量、利率招标、多重价位中标方式开展 5000 亿元买断 式逆回购操作，期限为 6 个月(182 天)。 8 月 15 日，中国人民银行以固定利率、数量招 ...

金融界消息 截至2025年8月14日收盘，华纬科技（001380）报收于23.12元，下跌3.38%，换手率 10.77%，成交量9.48万手，成交金额2.22亿元。 资金流向方面，今日主力资金净流出3486.53万元，占比成交额15.72%。其中，超大单净流出1965.05万 元、占成交额8.86%，大单净流出1521.47万元、占成交额6.86%，中单净流出流出115.87万元、占成交 额0.52%，小单净流入3602.39万元、占成交额16.24%。 华纬科技最新一期业绩显示，截至2025一季报，公司营业总收入4.50亿元、同比增长47.36%，归属净利 润6384.75万元，同比增长57.43%，扣非净利润6113.86万元，同比增长67.68%，流动比率2.448、速动比 率2.110、资产负债率32.68%。 天眼查商业履历信息显示，华纬科技股份有限公司，成立于2005年，位于绍兴市，是一家以从事黑色金 属冶炼和压延加工业为主的企业。企业注册资本27085.4208万人民币，实缴资本18300.96万人民币。公 司法定代表人为金雷。 通过天眼查大数据分析，华纬科技股份有限公司共对外投资了10家企业 ...

Market Overview - The Shanghai Composite Index fell by 0.46% on August 14, with only one industry, non-bank financials, showing an increase of 0.59% [1] - The industries with the largest declines were comprehensive and defense industry, down by 2.66% and 2.15% respectively [1] - The electronic industry also experienced a decline of 0.84% [1] Capital Flow - A total of 750.81 billion yuan in net outflow of main funds was observed across the two markets, with only two industries seeing net inflows: banking (1.88 million yuan) and building materials (5.94 million yuan) [1] - The defense industry had the largest net outflow, totaling 93.25 billion yuan, followed by machinery equipment with 82.25 billion yuan [1] Electronic Industry Performance - The electronic industry saw a net outflow of 75.27 billion yuan, with 467 stocks in the sector; 69 stocks rose while 396 fell [2] - Among the stocks with net inflows, 12 had over 100 million yuan, led by GoerTek with 999 million yuan, followed by Haiguang Information and Cambricon with 583 million yuan and 389 million yuan respectively [2] - The stocks with the largest net outflows included Industrial Fulian, Shenghong Technology, and Huadian with outflows of 778 million yuan, 682 million yuan, and 644 million yuan respectively [2][3] Notable Stocks in Electronic Industry - Top gainers in the electronic sector included GoerTek (6.29%), Haiguang Information (8.83%), and Cambricon (10.35%) [2] - Major decliners included Industrial Fulian (-1.05%), Shenghong Technology (-5.17%), and Huadian (-5.51%) [3]

1. Report Industry Investment Rating - No relevant content found 2. Core Viewpoints of the Report - The report presents the performance data of various global asset markets on August 13, 2025, including bond yields, exchange rates, stock indices, and futures trading data [3][5][6] 3. Summary by Related Catalogs Global Asset Market Performance Bond Yields - **10 - year Treasury Bond Yields**: Yields of major economies showed different changes in the latest, weekly, monthly, and yearly periods. For example, the US 10 - year Treasury bond yield was 4.235 on August 13, 2025, with a latest change of - 0.056, a weekly change of 0.006, a monthly change of - 0.222, and a yearly change of 0.446 [3] - **2 - year Treasury Bond Yields**: Similar to the 10 - year bonds, yields of different countries had varying changes. The US 2 - year Treasury bond yield was 3.760 on August 13, 2025, with a latest change of 0.000, a weekly change of 0.070, a monthly change of - 0.150, and a yearly change of - 0.400 [3] Exchange Rates - **Dollar against Major Emerging Economies' Currencies**: The dollar's exchange rates against currencies like the Brazilian real, Russian ruble, South African rand, etc., had different changes. For example, the dollar - Brazilian real exchange rate was 5.398 on August 13, 2025, with a latest change of 0.16%, a weekly change of - 1.21%, a monthly change of - 3.07%, and a yearly change of - 5.68% [3] - **Renminbi**: The on - shore, off - shore, and middle - price of the renminbi, as well as the 12 - month NDF, also had their respective values and changes on August 13, 2025 [3] Stock Indices - **Major Economies' Stock Indices**: Stock indices of major economies such as the Dow Jones, S&P 500, and Nasdaq showed positive changes in the latest, weekly, monthly, and yearly periods. For example, the Dow Jones index was 6466.580 on August 13, 2025, with a latest change of 0.32%, a weekly change of 1.92%, a monthly change of 3.24%, and a yearly change of 24.69% [3] - **Other Stock Indices**: Including the Russian index, Nikkei, Hang Seng Index, etc., also had their own performance and changes [3] Credit Bond Indices - Credit bond indices of emerging economies and developed economies had different values and changes on August 13, 2025. For example, the emerging economies' investment - grade credit bond index was 3467.280, with a latest change of 0.46%, a weekly change of 0.29%, a monthly change of 2.08%, and a yearly change of 4.65% [3][4] Stock Index Futures Trading Data - **Index Performance**: A - shares, CSI 300, SSE 50, ChiNext, and CSI 500 had their closing prices, price changes, and other data. For example, the CSI 300 index closed at 4176.58 on August 13, 2025, with a price change of 0.79% [5] - **Valuation**: PE (TTM) and risk premiums of different indices were presented, along with their changes [5] - **Fund Flows**: The latest values and 5 - day average values of fund flows in different markets were given [5] - **Trading Volume**: The latest trading volumes and their changes of different markets were provided [5] - **Main Contract Premiums and Discounts**: The basis and basis spreads of IF, IH, and IC were shown [5] Treasury Bond Futures Trading Data - Treasury bond futures T00, TF00, T01, and TF01 had their closing prices and price changes on August 13, 2025 [6] - **Funding Rates**: R001, R007, and SHIBOR - 3M had their rates and daily changes [6]

证券之星消息，截至2025年8月13日收盘，长江证券(000783)报收于7.92元，上涨2.86%，换手率 3.15%，成交量174.4万手，成交额13.68亿元。 8月13日的资金流向数据方面，主力资金净流入7382.03万元，占总成交额5.4%，游资资金净流入 1315.61万元，占总成交额0.96%，散户资金净流出8697.64万元，占总成交额6.36%。 长江证券2025年一季报显示，公司主营收入25.14亿元，同比上升88.81%；归母净利润9.8亿元，同比上 升143.76%；扣非净利润9.67亿元，同比上升150.36%；负债率74.67%，投资收益8.83亿元。长江证券 （000783）主营业务：公司依托齐全的业务资质,致力于为广大客户提供全方位综合金融服务。经纪及 证券金融业务指公司向客户提供证券及期货经纪、财富管理服务、研究业务及向客户提供融资融券、股 票质押式回购、转融通、约定购回式证券交易、上市公司股权激励行权融资等资本中介服务。证券自营 业务是指公司开展证券投资,包括但不限于权益类、固定收益类及金融衍生品等自营交易和做市业务。 投资银行业务指公司向客户提供包括承销与保荐、上市公司并 ...