Group 1 - A-shares indices collectively rose, with the Shanghai Composite Index breaking its previous high of 3674.4 points set on October 8, 2024, marking the highest level since December 13, 2021, with a year-to-date increase of over 9% [2] - As of August 12, the margin trading balance in A-shares returned to 2 trillion yuan, with a reported balance of 20,345.33 billion yuan, an increase of 833.5 million yuan from the previous trading day [2] - The sectors leading the gains included shipbuilding, electronic chemicals, aerospace, communication equipment, and non-ferrous metals, while medical devices, port shipping, coal, and energy metals saw declines [2] Group 2 - Zhejiang Merchants Securities indicated that the "924" market trend began on August 11, establishing a long-term market bottom, with expectations for a strong market post-April 7, 2025, potentially leading to the fifth bull market in A-share history [3] - The three core supporting factors for the recent market rise—policy bottom-line thinking, emergence of new growth drivers, and influx of incremental funds—remain unchanged, suggesting potential catalysts for market confidence [3] - China Merchants Securities noted that the semi-annual reports are expected to confirm the improvement in overall free cash flow for listed companies, reinforcing the logic for re-evaluating A-shares [3]