Group 1: Report Core View - Focus on the start - up situation of mid - stream manufacturing industries, including the "anti - involution" progress in the production industry and pension policies in the service industry [1][2] - Provide an overview of the upstream, mid - stream, and downstream industries, including price and start - up rate changes [3] Group 2: Industry Investment Rating - No relevant content provided Group 3: Summary by Directory Production Industry - In the photovoltaic industry, on August 19, multiple departments jointly held a symposium to further standardize the competition order, including strengthening industrial regulation, curbing low - price disorderly competition, and standardizing product quality [1] Service Industry - From January to July 2025, the stamp duty was 255.9 billion yuan, a year - on - year increase of 20.7%. The securities trading stamp duty was 93.6 billion yuan, a year - on - year increase of 62.5%. In July 2025, the securities trading stamp duty was 1.51 billion yuan, a month - on - month increase of 29% and a year - on - year increase of 1.25 times [2] - Starting from September 1, 2025, three new personal pension withdrawal situations are added, related to medical expenses, unemployment insurance benefits, and minimum living security [2] Upstream Industry - In the black industry, glass prices have dropped significantly; in the agricultural industry, egg and palm oil prices have rebounded; in the energy industry, liquefied natural gas prices have dropped [3] Mid - stream Industry - In the chemical industry, the PX start - up rate has increased, while the start - up rates of urea and PTA have slightly decreased; in the energy industry, the coal consumption of power plants has increased; in the agricultural industry, the start - up rate of pig products has increased [3] Downstream Industry - In the real estate industry, the sales of commercial housing in first - and second - tier cities have seasonally declined; in the service industry, the number of domestic flights has remained stable at a high level [3] Key Industry Price Indicators - In the agricultural industry on August 19, the spot price of eggs increased by 5.16% year - on - year, and the spot price of palm oil increased by 4.55% year - on - year; in the non - ferrous metal industry, most metal prices decreased year - on - year; in the black metal industry, most product prices decreased year - on - year; in the energy industry, the price of liquefied natural gas decreased by 3.32% year - on - year [37]