Report Industry Investment Rating - Not provided in the content Core Viewpoints - The report presents the trading liquidity data of various sectors in the market on July 23, 2025, including trading volume, holding amount, and trading - holding ratio, as well as their changes compared to the previous trading day [1][2] Summary by Directory I. Plate Liquidity - There are figures showing the trading - holding ratio, trading volume change rate, holding volume, holding amount, trading volume, and trading amount of each plate, with data sources from Flush and Huatai Futures Research Institute [4][8] II. Stock Index Plate - On July 23, 2025, the trading volume of the stock index plate was 6218.40 billion yuan, a +12.11% change from the previous trading day; the holding amount was 11309.50 billion yuan, a +1.73% change; the trading - holding ratio was 55.00%. There are also figures showing the price change rate, trading - holding ratio, precipitation fund change, precipitation fund trend, trading amount change, and the top 20 net holding ratio trend of each variety in the stock index plate, with data sources from Flush and Huatai Futures Research Institute [1][16] III. Treasury Bond Plate - On July 23, 2025, the trading volume of the treasury bond plate was 5405.11 billion yuan, a +40.23% change from the previous trading day; the holding amount was 9025.71 billion yuan, a - 0.64% change; the trading - holding ratio was 61.31%. There are figures showing the price change rate, trading - holding ratio, precipitation fund change, precipitation fund trend, trading amount change, and the top 20 net holding ratio trend of each variety in the treasury bond plate, with data sources from Flush and Huatai Futures Research Institute [1][18] IV. Base Metals and Precious Metals (Metal Plate) - On July 23, 2025, the trading volume of the base metal plate was 8162.85 billion yuan, a +28.40% change from the previous trading day; the holding amount was 5209.01 billion yuan, a - 1.67% change; the trading - holding ratio was 213.20%. The trading volume of the precious metal plate was 4848.25 billion yuan, a +20.51% change from the previous trading day; the holding amount was 4914.08 billion yuan, a +2.68% change; the trading - holding ratio was 119.04%. There are figures showing the price change rate, trading - holding ratio, precipitation fund change amount, precipitation fund trend, trading amount change rate, and the top 20 net holding ratio trend of each variety in the metal plate, with data sources from Flush and Huatai Futures Research Institute [1][34] V. Energy and Chemical Plate - On July 23, 2025, the trading volume of the energy and chemical plate was 6906.89 billion yuan, a - 5.27% change from the previous trading day; the holding amount was 4299.16 billion yuan, a - 0.77% change; the trading - holding ratio was 149.58%. There are figures showing the price change rate, trading - holding ratio, precipitation fund change amount, precipitation fund trend, trading amount change rate, and the top 20 net holding ratio trend of the main varieties in the energy and chemical plate, with data sources from Flush and Huatai Futures Research Institute [1][37] VI. Agricultural Products Plate - On July 23, 2025, the trading volume of the agricultural products plate was 3918.32 billion yuan, a +15.83% change from the previous trading day; the holding amount was 5936.18 billion yuan, a +0.71% change; the trading - holding ratio was 55.26%. There are figures showing the price change rate, trading - holding ratio, precipitation fund change amount, precipitation fund trend, trading amount change rate, and the top 20 net holding ratio trend of the main varieties in the agricultural products plate, with data sources from Flush and Huatai Futures Research Institute [1][46] VII. Black Building Materials Plate - On July 23, 2025, the trading volume of the black building materials plate was 6320.02 billion yuan, a +11.91% change from the previous trading day; the holding amount was 3866.03 billion yuan, a - 1.31% change; the trading - holding ratio was 156.70%. There are figures showing the price change rate, trading - holding ratio, precipitation fund change amount, precipitation fund trend, trading amount change rate, and the top 20 net holding ratio trend of each variety in the black building materials plate, with data sources from Flush and Huatai Futures Research Institute [2][62]

Group 1: Report Core Information - The report is a liquidity daily report dated July 23, 2025, with analysis researchers including Gao Tianyue, Li Yizi, and Li Guangting [61][62] Group 2: Market Liquidity Overview - On July 22, 2025, the stock index sector had a trading volume of 554.65 billion yuan, a +14.04% change from the previous trading day, a position value of 1111.703 billion yuan, a +3.71% change, and a trading - position ratio of 50.06% [1] - The treasury bond sector had a trading volume of 385.433 billion yuan, a -6.65% change, a position value of 908.429 billion yuan, a -0.53% change, and a trading - position ratio of 43.09% [1] - The basic metal sector had a trading volume of 635.758 billion yuan, a +0.25% change, a position value of 529.731 billion yuan, a +3.28% change, and a trading - position ratio of 163.24% [1] - The precious metal sector had a trading volume of 402.302 billion yuan, a +15.44% change, a position value of 478.56 billion yuan, a +2.51% change, and a trading - position ratio of 107.01% [1] - The energy and chemical sector had a trading volume of 729.15 billion yuan, a +3.07% change, a position value of 433.246 billion yuan, a -1.30% change, and a trading - position ratio of 149.30% [1] - The agricultural product sector had a trading volume of 338.285 billion yuan, a -0.40% change, a position value of 589.417 billion yuan, a -0.61% change, and a trading - position ratio of 51.56% [1] - The black building materials sector had a trading volume of 564.717 billion yuan, a +15.70% change, a position value of 391.751 billion yuan, a -0.14% change, and a trading - position ratio of 147.96% [2] Group 3: Directory - related Figures 1. Plate Liquidity - Figures include those showing each plate's trading - position ratio, turnover change rate, position volume, position value, trading volume, and turnover [4][5][6][8] 2. Stock Index Sector - Figures cover each variety's increase - decrease rate, trading - position ratio, precipitation fund change, precipitation fund trend, turnover change, and the top 20 net position ratio trend [5][6][10][11][12][15][17][18] 3. Treasury Bond Sector - Figures display each variety's increase - decrease rate, trading - position ratio, precipitation fund change, precipitation fund trend, turnover change, and the top 20 net position ratio trend [5][6][19][22][24][25] 4. Basic Metal and Precious Metal (Metal Sector) - Figures show each variety's increase - decrease rate, trading - position ratio, precipitation fund change amount, precipitation fund trend, turnover change rate, and the top 20 net position ratio trend [5][6][26][27][33][32] 5. Energy and Chemical Sector - Figures present each main variety's increase - decrease rate, trading - position ratio, precipitation fund change amount, precipitation fund trend, turnover change rate, and the top 20 net position ratio trend [5][6][35][36][37][38][40] 6. Agricultural Product Sector - Figures include each main variety's increase - decrease rate, trading - position ratio, precipitation fund change amount, precipitation fund trend, turnover change rate, and the top 20 net position ratio trend [5][6][43][44][46][47][49] 7. Black Building Materials Sector - Figures show each variety's increase - decrease rate, trading - position ratio, precipitation fund change amount, precipitation fund trend, turnover change rate, and the top 20 net position ratio trend [5][6][50][52][54][56][59]

1. Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. 2. Core View The report presents the market liquidity situation on July 21, 2025, including the trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day for various sectors such as the stock index, treasury bond, basic metal, precious metal, energy chemical, agricultural product, and black building material sectors [1][2]. 3. Summary by Directory I. Plate Liquidity - Various charts are used to display the trading - holding ratio, trading volume change rate, holding amount, trading volume, and trading amount of each sector [5][8] II. Stock Index Plate - On July 21, 2025, the trading volume of the stock index plate was 486.346 billion yuan, a change of - 10.60% from the previous trading day; the holding amount was 1071.902 billion yuan, a change of + 3.13% from the previous trading day; the trading - holding ratio was 45.24% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each variety in the stock index plate [5] III. Treasury Bond Plate - On July 21, 2025, the trading volume of the treasury bond plate was 412.89 billion yuan, a change of + 60.25% from the previous trading day; the holding amount was 913.311 billion yuan, a change of + 0.69% from the previous trading day; the trading - holding ratio was 46.91% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each variety in the treasury bond plate [5] IV. Basic Metal and Precious Metal (Metal Plate) - On July 21, 2025, the trading volume of the basic metal plate was 634.191 billion yuan, a change of + 1.20% from the previous trading day; the holding amount was 512.895 billion yuan, a change of + 5.44% from the previous trading day; the trading - holding ratio was 165.53% - The trading volume of the precious metal plate was 348.508 billion yuan, a change of - 4.14% from the previous trading day; the holding amount was 466.834 billion yuan, a change of + 1.96% from the previous trading day; the trading - holding ratio was 82.63% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each variety in the metal plate [5] V. Energy Chemical Plate - On July 21, 2025, the trading volume of the energy chemical plate was 707.461 billion yuan, a change of + 27.22% from the previous trading day; the holding amount was 438.931 billion yuan, a change of - 2.08% from the previous trading day; the trading - holding ratio was 142.54% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each main variety in the energy chemical plate [5] VI. Agricultural Product Plate - On July 21, 2025, the trading volume of the agricultural product plate was 339.628 billion yuan, a change of - 3.02% from the previous trading day; the holding amount was 593.033 billion yuan, a change of - 1.08% from the previous trading day; the trading - holding ratio was 49.04% [1] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each main variety in the agricultural product plate [5] VII. Black Building Material Plate - On July 21, 2025, the trading volume of the black building material plate was 488.107 billion yuan, a change of + 47.14% from the previous trading day; the holding amount was 392.289 billion yuan, a change of + 1.19% from the previous trading day; the trading - holding ratio was 133.43% [2] - Multiple charts show the price change, trading - holding ratio, and precipitation fund change of each variety in the black building material plate [5]

1. Report Industry Investment Rating - No relevant content provided 2. Core View - On July 17, 2025, different market sectors showed various trends in trading volume, holding amount, and trading - holding ratios. For example, the stock index sector had an increase in both trading volume and holding amount, while the treasury bond sector had a decrease in trading volume but an increase in holding amount [1]. 3. Summary by Directory 3.1 Plate Liquidity - The report presents data on trading volume, holding amount, and trading - holding ratios for multiple market sectors including stock index, treasury bond, basic metal, precious metal, energy - chemical, agricultural product, and black building material sectors. It also provides figures related to these aspects such as trading - holding ratios, trading volume change rates, holding amounts, etc. [1][2][4] 3.2 Stock Index Plate - On July 17, 2025, the stock index sector had a trading volume of 5374.04 billion yuan, a 1.34% increase from the previous trading day. The holding amount was 10821.84 billion yuan, a 2.76% increase. The trading - holding ratio was 49.59% [1]. 3.3 Treasury Bond Plate - The treasury bond sector had a trading volume of 2606.24 billion yuan on July 17, 2025, a 4.56% decrease from the previous trading day. The holding amount was 9072.33 billion yuan, a 0.20% increase. The trading - holding ratio was 29.01% [1]. 3.4 Basic Metal and Precious Metal (Metal Plate) - The basic metal sector had a trading volume of 4441.70 billion yuan, a 12.92% increase, and a holding amount of 4882.71 billion yuan, a 1.99% increase. The trading - holding ratio was 122.02%. The precious metal sector had a trading volume of 5384.61 billion yuan, a 36.71% increase, and a holding amount of 4535.74 billion yuan, a 1.45% increase. The trading - holding ratio was 118.61% [1]. 3.5 Energy - Chemical Plate - The energy - chemical sector had a trading volume of 4389.77 billion yuan on July 17, 2025, an 8.20% increase from the previous trading day. The holding amount was 4420.29 billion yuan, a 0.13% increase. The trading - holding ratio was 73.99% [1]. 3.6 Agricultural Product Plate - The agricultural product sector had a trading volume of 3415.00 billion yuan on July 17, 2025, a 33.30% increase from the previous trading day. The holding amount was 5874.09 billion yuan, a 1.82% increase. The trading - holding ratio was 54.68% [1]. 3.7 Black Building Material Plate - The black building material sector had a trading volume of 2586.00 billion yuan on July 17, 2025, a 22.70% increase from the previous trading day. The holding amount was 3874.31 billion yuan, a 1.72% increase. The trading - holding ratio was 66.68% [2].

1. Report's Core View - On July 16, 2025, the market liquidity of various sectors showed different trends. The trading volume and holding amount of most sectors decreased compared with the previous trading day, except for the precious metals and agricultural products sectors where the trading volume increased and decreased respectively [1]. 2. Summary by Relevant Catalogs 2.1 Plate Liquidity - The trading volume, holding amount, and trading - holding ratio of various sectors are presented. The trading volume of the stock index, treasury bond, basic metal, energy - chemical, agricultural product, and black building materials sectors decreased compared with the previous trading day, while the precious metals sector increased. The holding amount of the stock index, treasury bond, basic metal, precious metals, and energy - chemical sectors decreased, while the agricultural product and black building materials sectors increased [1][2]. 2.2 Stock Index Plate - The trading volume was 5302.90 billion yuan, a - 9.15% change from the previous trading day; the holding amount was 10531.07 billion yuan, a - 4.59% change; the trading - holding ratio was 49.94% [1]. 2.3 Treasury Bond Plate - The trading volume was 2730.65 billion yuan, a - 16.66% change from the previous trading day; the holding amount was 9053.78 billion yuan, a - 1.06% change; the trading - holding ratio was 30.82% [1]. 2.4 Basic Metal and Precious Metals (Metal Plate) - The basic metal trading volume was 3933.48 billion yuan, a - 20.09% change from the previous trading day; the holding amount was 4787.29 billion yuan, a - 1.22% change; the trading - holding ratio was 110.74%. The precious metals trading volume was 3938.69 billion yuan, a + 9.12% change from the previous trading day; the holding amount was 4470.89 billion yuan, a - 1.42% change; the trading - holding ratio was 96.91% [1]. 2.5 Energy - Chemical Plate - The trading volume was 4056.98 billion yuan, a - 24.35% change from the previous trading day; the holding amount was 4414.66 billion yuan, a - 0.41% change; the trading - holding ratio was 70.98% [1]. 2.6 Agricultural Product Plate - The trading volume was 2561.87 billion yuan, a - 5.68% change from the previous trading day; the holding amount was 5769.12 billion yuan, a + 1.25% change; the trading - holding ratio was 37.73% [1]. 2.7 Black Building Materials Plate - The trading volume was 2107.60 billion yuan, a - 17.53% change from the previous trading day; the holding amount was 3808.82 billion yuan, a + 0.47% change; the trading - holding ratio was 52.61% [2].

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View The report presents the market liquidity situation on July 15, 2025, including the trading volume, holding amount, and trading - holding ratio of different sectors such as stock index, treasury bond, basic metal, precious metal, energy chemical, agricultural product, and black building materials sectors, along with their changes compared to the previous trading day [1][2]. 3. Summary by Directory I. Plate Liquidity - On July 15, 2025, the trading volume, holding amount, and trading - holding ratio of various sectors are presented, along with their changes compared to the previous trading day. The stock index sector had a trading volume of 5837.26 billion yuan, a +54.61% change; a holding amount of 11037.25 billion yuan, a +2.70% change; and a trading - holding ratio of 52.82%. The treasury bond sector had a trading volume of 3276.36 billion yuan, a - 5.86% change; a holding amount of 9151.09 billion yuan, a - 0.35% change; and a trading - holding ratio of 36.32%. The basic metal sector had a trading volume of 4922.42 billion yuan, a +2.45% change; a holding amount of 4846.59 billion yuan, a +0.27% change; and a trading - holding ratio of 136.62%. The precious metal sector had a trading volume of 3609.49 billion yuan, a - 23.78% change; a holding amount of 4535.10 billion yuan, a +1.01% change; and a trading - holding ratio of 90.89%. The energy chemical sector had a trading volume of 5362.61 billion yuan, a +9.41% change; a holding amount of 4432.72 billion yuan, a +1.28% change; and a trading - holding ratio of 99.13%. The agricultural product sector had a trading volume of 2716.08 billion yuan, a - 8.91% change; a holding amount of 5697.82 billion yuan, a - 0.75% change; and a trading - holding ratio of 41.79%. The black building materials sector had a trading volume of 2555.48 billion yuan, a +15.68% change; a holding amount of 3791.01 billion yuan, a +0.88% change; and a trading - holding ratio of 70.59% [1][2]. II. Stock Index Sector - The trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day are provided, along with information on the changes in the settled funds, trading volume, and the proportion of net positions of the top 20 in each variety of the stock index sector [1][11][12]. III. Treasury Bond Sector - The trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day are given, as well as details about the changes in the settled funds, trading volume, and the proportion of net positions of the top 20 in each variety of the treasury bond sector [1][21][22]. IV. Basic Metal and Precious Metal (Metal Sector) - The trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day are presented, along with information on the changes in the settled funds, trading volume, and the proportion of net positions of the top 20 in each variety of the metal sector [1][33][35]. V. Energy Chemical Sector - The trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day are shown, along with details about the changes in the settled funds, trading volume, and the proportion of net positions of the top 20 in the main varieties of the energy chemical sector [1][37][39]. VI. Agricultural Product Sector - The trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day are provided, along with information on the changes in the settled funds, trading volume, and the proportion of net positions of the top 20 in the main varieties of the agricultural product sector [1][44][48]. VII. Black Building Materials Sector - The trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day are given, as well as details about the changes in the settled funds, trading volume, and the proportion of net positions of the top 20 in each variety of the black building materials sector [2][54][62].

1. Report Core View - The report presents the market liquidity situation on July 14, 2025, including the trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day for different sectors such as stock index, treasury bond, basic metal, precious metal, energy chemical, agricultural product, and black building material sectors [1][2] 2. Summary by Directory 2.1 Plate Liquidity - Provides overall market liquidity data of various sectors, including trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day [1][2] 2.2 Stock Index Plate - On July 14, 2025, the trading volume was 3775.44 billion yuan, a change of - 50.10% compared to the previous trading day; the holding amount was 10747.59 billion yuan, a change of - 7.79% compared to the previous trading day; the trading - holding ratio was 35.10% [1] 2.3 Treasury Bond Plate - On July 14, 2025, the trading volume was 3480.32 billion yuan, a change of - 20.56% compared to the previous trading day; the holding amount was 9182.86 billion yuan, a change of + 0.15% compared to the previous trading day; the trading - holding ratio was 38.74% [1] 2.4 Basic Metal and Precious Metal (Metal Plate) - Basic metal: On July 14, 2025, the trading volume was 4804.88 billion yuan, a change of - 0.85% compared to the previous trading day; the holding amount was 4833.46 billion yuan, a change of - 1.13% compared to the previous trading day; the trading - holding ratio was 140.05% - Precious metal: On July 14, 2025, the trading volume was 4735.90 billion yuan, a change of + 4.67% compared to the previous trading day; the holding amount was 4489.96 billion yuan, a change of + 3.79% compared to the previous trading day; the trading - holding ratio was 134.92% [1] 2.5 Energy Chemical Plate - On July 14, 2025, the trading volume was 4901.17 billion yuan, a change of - 5.24% compared to the previous trading day; the holding amount was 4376.89 billion yuan, a change of + 0.67% compared to the previous trading day; the trading - holding ratio was 90.63% [1] 2.6 Agricultural Product Plate - On July 14, 2025, the trading volume was 2981.73 billion yuan, a change of - 4.94% compared to the previous trading day; the holding amount was 5741.16 billion yuan, a change of - 0.03% compared to the previous trading day; the trading - holding ratio was 49.92% [1] 2.7 Black Building Material Plate - On July 14, 2025, the trading volume was 2209.06 billion yuan, a change of - 27.28% compared to the previous trading day; the holding amount was 3757.79 billion yuan, a change of - 0.38% compared to the previous trading day; the trading - holding ratio was 59.17% [2]

Report Industry Investment Rating - Not provided in the content Core Viewpoint - The report presents the liquidity situation of various market sectors on July 10, 2025, including trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day [1][2] Summary by Directory 1. Plate Liquidity - The report shows the trading - holding ratio, trading volume change rate, holding amount, and trading volume of each plate, providing a comprehensive view of plate liquidity [1][2][5] 2. Stock Index Plate - On July 10, 2025, the stock index plate had a trading volume of 458.41 billion yuan, a +9.52% change from the previous trading day; the holding amount was 1069.218 billion yuan, a +4.66% change; the trading - holding ratio was 43.20% [1] 3. Treasury Bond Plate - On July 10, 2025, the treasury bond plate had a trading volume of 398.037 billion yuan, a +35.26% change from the previous trading day; the holding amount was 917.331 billion yuan, a +0.37% change; the trading - holding ratio was 43.80% [1] 4. Base Metals and Precious Metals (Metal Plate) - On July 10, 2025, the base metals plate had a trading volume of 539.692 billion yuan, a +9.06% change from the previous trading day; the holding amount was 497.066 billion yuan, a - 0.07% change; the trading - holding ratio was 142.24%. The precious metals plate had a trading volume of 297.7 billion yuan, a - 35.39% change; the holding amount was 421.974 billion yuan, a - 0.23% change; the trading - holding ratio was 75.80% [1] 5. Energy and Chemical Plate - On July 10, 2025, the energy and chemical plate had a trading volume of 556.985 billion yuan, a +27.65% change from the previous trading day; the holding amount was 434.905 billion yuan, a - 0.16% change; the trading - holding ratio was 110.38% [1] 6. Agricultural Products Plate - On July 10, 2025, the agricultural products plate had a trading volume of 296.017 billion yuan, a +15.77% change from the previous trading day; the holding amount was 571.605 billion yuan, a +0.26% change; the trading - holding ratio was 45.71% [1] 7. Black Building Materials Plate - On July 10, 2025, the black building materials plate had a trading volume of 335.237 billion yuan, a +71.83% change from the previous trading day; the holding amount was 371.906 billion yuan, a +1.76% change; the trading - holding ratio was 96.84% [2]

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The report presents the market liquidity situation on July 9, 2025, including the trading volume, holding amount, trading - holding ratio, and their changes compared to the previous trading day for different sectors such as stock index, treasury bond, basic metal, precious metal, energy chemical, agricultural product, and black building material sectors. 3. Summary by Relevant Catalogs I. Plate Liquidity - On July 9, 2025, data on trading - holding ratio, trading volume change rate, holding amount, and trading volume of each sector are presented, along with relevant figures [1][2][5] II. Stock Index Plate - On July 9, 2025, the stock index plate had a trading volume of 418.574 billion yuan, a 20.99% decrease from the previous trading day; the holding amount was 1021.622 billion yuan, a 5.75% decrease; the trading - holding ratio was 40.83% [1] III. Treasury Bond Plate - On July 9, 2025, the treasury bond plate had a trading volume of 294.282 billion yuan, a 9.73% decrease from the previous trading day; the holding amount was 913.952 billion yuan, a 0.23% decrease; the trading - holding ratio was 32.18% [1] IV. Basic Metal and Precious Metal (Metal Plate) - On July 9, 2025, the basic metal plate had a trading volume of 494.873 billion yuan, an 18.22% increase from the previous trading day; the holding amount was 497.411 billion yuan, a 1.89% decrease; the trading - holding ratio was 117.72%. The precious metal plate had a trading volume of 460.751 billion yuan, a 61.36% increase; the holding amount was 422.967 billion yuan, a 2.11% decrease; the trading - holding ratio was 106.46% [1] V. Energy Chemical Plate - On July 9, 2025, the energy chemical plate had a trading volume of 436.344 billion yuan, a 0.30% increase from the previous trading day; the holding amount was 435.610 billion yuan, a 0.12% increase; the trading - holding ratio was 79.88% [1] VI. Agricultural Product Plate - On July 9, 2025, the agricultural product plate had a trading volume of 255.696 billion yuan, an 8.48% decrease from the previous trading day; the holding amount was 570.105 billion yuan, a 0.37% increase; the trading - holding ratio was 40.11% [1] VII. Black Building Material Plate - On July 9, 2025, the black building material plate had a trading volume of 195.096 billion yuan, a 28.46% increase from the previous trading day; the holding amount was 365.480 billion yuan, a 0.82% increase; the trading - holding ratio was 51.10% [2]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core View The report presents the market liquidity situation on July 7, 2025, including the trading volume, holding amount, and trading - holding ratio of various sectors such as stock index, treasury bond, basic metal, precious metal, energy chemical, agricultural product, and black building material sectors, as well as their changes compared with the previous trading day. 3. Summary by Directory I. Plate Liquidity - Data on the trading volume, holding amount, and trading - holding ratio of various sectors are presented, along with their changes compared to the previous trading day [1][2] II. Stock Index Plate - On July 7, 2025, the trading volume was 3373.53 billion yuan, a - 46.10% change from the previous trading day; the holding amount was 10024.21 billion yuan, a - 8.48% change; the trading - holding ratio was 33.50% [1] III. Treasury Bond Plate - The trading volume was 2724.60 billion yuan, a + 1.29% change; the holding amount was 9287.41 billion yuan, a + 0.15% change; the trading - holding ratio was 29.11% [1] IV. Basic Metal and Precious Metal (Metal Plate) - The trading volume was 3181.28 billion yuan, a - 8.85% change; the holding amount was 5009.12 billion yuan, a - 1.27% change; the trading - holding ratio was 81.65% for the basic metal part. For the precious metal part, the trading volume was 2959.60 billion yuan, a - 13.83% change; the holding amount was 4292.19 billion yuan, a - 2.65% change; the trading - holding ratio was 72.61% [1] V. Energy Chemical Plate - The trading volume was 4071.88 billion yuan, a - 14.68% change; the holding amount was 4358.58 billion yuan, a + 0.56% change; the trading - holding ratio was 70.56% [1] VI. Agricultural Product Plate - The trading volume was 2756.76 billion yuan, a + 3.49% change; the holding amount was 5595.71 billion yuan, a + 0.02% change; the trading - holding ratio was 47.02% [1] VII. Black Building Material Plate - The trading volume was 1865.91 billion yuan, a - 26.82% change; the holding amount was 3625.54 billion yuan, a - 0.44% change; the trading - holding ratio was 51.66% [2]