Report Industry Investment Rating No relevant content provided. Core View of the Report On July 4, 2025, the news about stock index futures was calm, and the market was expected to fluctuate with a slight upward trend. On July 3, all the current-month contracts of the four major stock index futures rose, with IF up 0.69%, IH up 0.16%, IC up 0.42%, and IM up 0.44%. [1] Summary by Relevant Catalogs Stock Index Futures Data Tracking - **Closing Prices and Fluctuations**: The closing prices of various stock index futures contracts showed different degrees of increase. For example, IF2507 closed at 3946.6, up 0.69%; IH2507 closed at 2707.6, up 0.16%; IC2507 closed at 5874, up 0.42%; IM2507 closed at 6279.4, up 0.44%. [1] - **Basis**: The basis of each contract was negative, indicating that the futures prices were lower than the spot prices. For instance, the basis of IF2507 was -21.47, IH2507 was -16.95, IC2507 was -48.66, and IM2507 was -63.24. [1] - **Trading Volume and Open Interest**: The trading volume and open interest of different contracts changed. In terms of trading volume, IF total trading volume increased by 2786 lots, while IH decreased by 3073 lots, IC decreased by 523 lots, and IM decreased by 2775 lots. Regarding open interest, IF total open interest decreased by 481 lots, IH decreased by 1877 lots, IC increased by 1566 lots, and IM increased by 2566 lots. [1][2] Top 20 Member Position Changes - **Long and Short Positions**: The long and short positions of the top 20 members in different contracts changed. For example, in IF2507 - IF2508, the long positions decreased by 688 (not announced for IF2508), and the short positions increased by 116 (not announced for IF2508). [5] Trend Intensity - The trend intensity of IF and IH was 1, and that of IC and IM was also 1, indicating a neutral trend according to the classification range of [-2, 2]. [6] Important Drivers - **US Market**: The US non - farm payrolls exceeded expectations, leading to a significant drop in the expectation of Fed rate cuts, a decline in US Treasury bonds, and a fall of about 1.4% in gold at one point. The tech stocks were strong, with the Nasdaq rising over 1%. The US added 147,000 non - farm jobs in June, and the unemployment rate unexpectedly dropped to 4.1%. [7] - **Chinese A - share Market**: The Shanghai Composite Index rose 0.18%, the Shenzhen Component Index rose 1.17%, and the ChiNext Index rose 1.9%. The A - share market traded 1.33 trillion yuan throughout the day, down from 1.41 trillion yuan the previous day. Some concept stocks such as innovative drugs, solid - state batteries, and Apple concept stocks performed well, while most military stocks declined. [7]

Core Viewpoint - The storage chip sector is experiencing significant stock price movements, with several companies seeing sharp increases due to a new wave of price hikes in the market [1] Group 1: Market Movements - Goodix Technology's stock surged to the daily limit, indicating strong investor interest [1] - Other companies such as Zhaoyi Innovation and Xinyu Ren also saw their stocks rise over 5% [1] - Additional companies including Tongyou Technology, Yingfang Micro, Wanrun Technology, and Shannon Chip Innovation followed suit with price increases [1] Group 2: Market Trends - The storage chip market is currently undergoing a new round of price increases, with multiple leading firms announcing higher prices for certain products [1]

Group 1 - The A-share market saw a significant surge in the storage chip concept, with companies like Yingfang Micro and Wanrun Technology hitting the daily limit up [1] - Other companies such as Dongfang Zhongke, Dagang Shares, Tongyou Technology, and Shanghai Beiling also experienced notable increases in their stock prices [1]

Group 1: Market Performance - The storage chip sector declined by 2.67%, ranking among the top losers in the market [1][2] - Notable declines were observed in companies such as Huahong Semiconductor, Hangzhou Kelin, and Canxin Technology, while companies like Oriental Zhongke, Chengbang Co., and Huada Jiutian saw gains of 1.56%, 1.24%, and 0.58% respectively [1][2] Group 2: Capital Flow - The storage chip sector experienced a net outflow of 3.008 billion yuan, with 81 stocks seeing net outflows, and 10 stocks exceeding 100 million yuan in outflows [2] - Tianyuan Dike led the outflow with a net withdrawal of 297 million yuan, followed by Zhaoyi Innovation, Allwinner Technology, and Northern Huachuang with outflows of 253 million yuan, 205 million yuan, and 165 million yuan respectively [2][3] Group 3: Stock Performance - The top stocks with significant outflows included Tianyuan Dike (-4.56%), Zhaoyi Innovation (-2.45%), and Allwinner Technology (-2.69%) [2][3] - Conversely, stocks with net inflows included Oriental Zhongke (1.56%), Deep Kangjia A (0.19%), and Xiechuang Data (0.04%) [2][5]

Group 1 - The storage chip sector rose by 4.62%, ranking fourth among concept sectors, with 91 stocks increasing in value, including Yachuang Electronics which hit a 20% limit up [1] - Major gainers in the storage chip sector included Huahong Company, Lierda, and Hualing Co., which rose by 19.75%, 14.36%, and 11.40% respectively [1] - The sector saw a net inflow of 4.219 billion yuan from main funds, with 73 stocks receiving net inflows, and 12 stocks exceeding 100 million yuan in net inflow [2] Group 2 - The top stocks by net inflow included Shanghai Beiling with 499.35 million yuan, followed by Huahong Company and Tongfu Microelectronics with 481 million yuan and 464 million yuan respectively [2][3] - The net inflow ratio was highest for Yingfang Microelectronics at 59.12%, followed by Dagang Co. at 56.30% and Haoshanghao at 31.89% [3][4] - The storage chip sector's performance was contrasted by declines in other sectors, such as genetically modified and grain concepts, which fell by 5.96% and 4.68% respectively [2]