Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core View of the Report - According to the closing prices of adjacent trading days, the Nanhua Comprehensive Index fell by -0.91% today. Among the sector indices, only the Nanhua Precious Metals Index rose by 1.25%, while the rest of the sectors declined. The Nanhua Energy and Chemical Index had the largest decline of -2.36%, and the Nanhua Agricultural Products Index had the smallest decline of -0.69%. All theme indices declined, with the Energy Index having the largest decline of -3.00% and the Oilseeds and Oils Index having the smallest decline of -0.23%. Among the single - variety indices of commodity futures, the Silver index had the largest increase of 2.37%, and the Lithium Carbonate index had the largest decline of -8.57% [1][3]. 3. Summary by Relevant Catalog 3.1 Nanhua Commodity Index Market Data - **Comprehensive Index (NHCI)**: Closed at 3074.62, down 28.28 points or -0.91% from the previous close. The annualized return rate is 22.26%, the annualized volatility is 15.20%, and the Sharpe ratio is 1.46 [3]. - **Precious Metals Index (NHPMI)**: Closed at 1970.45, up 24.39 points or 1.25% from the previous close. The annualized return rate is 71.72%, the annualized volatility is 35.67%, and the Sharpe ratio is 2.01 [3]. - **Industrial Products Index (NHII)**: Closed at 4182.83, down 72.21 points or -1.70% from the previous close. The annualized return rate is 13.05%, the annualized volatility is 17.18%, and the Sharpe ratio is 0.76 [3]. - **Metal Index (NHMI)**: Closed at 7157.68, down 85.34 points or -1.18% from the previous close. The annualized return rate is 12.09%, the annualized volatility is 14.46%, and the Sharpe ratio is 0.84 [3]. - **Energy and Chemical Index (NHECI)**: Closed at 2027.57, down 49.03 points or -2.36% from the previous close. The annualized return rate is 16.41%, the annualized volatility is 23.54%, and the Sharpe ratio is 0.70 [3]. - **Non - ferrous Metals Index (NHNF)**: Closed at 2010.96, down 28.17 points or -1.38% from the previous close. The annualized return rate is 17.06%, the annualized volatility is 18.62%, and the Sharpe ratio is 0.92 [3]. - **Black Index (NHFI)**: Closed at 2582.79, down 33.63 points or -1.29% from the previous close. The annualized return rate is 2.90%, the annualized volatility is 15.93%, and the Sharpe ratio is 0.18 [3]. - **Agricultural Products Index (NHAI)**: Closed at 1079.70, down 7.49 points or -0.69% from the previous close. The annualized return rate is -0.32%, the annualized volatility is 7.92%, and the Sharpe ratio is -0.04 [3]. - **Mini - Comprehensive Index (NHCIMi)**: Closed at 1427.78, down 17.39 points or -1.20% from the previous close. The annualized return rate is 7.58%, the annualized volatility is 26.81%, and the Sharpe ratio is 0.28 [3]. - **Energy Index (NHEI)**: Closed at 1499.31, down 46.32 points or -3.00% from the previous close. The annualized return rate is 16.30%, the annualized volatility is 62.04%, and the Sharpe ratio is 0.26 [3]. - **Petrochemical Index (NHPCI)**: Closed at 1246.36, down 22.95 points or -1.81% from the previous close. The annualized return rate is 12.09%, the annualized volatility is 38.42%, and the Sharpe ratio is 0.31 [3]. - **Chemical Index (NHCCI)**: Closed at 1231.37, down 31.27 points or -2.48% from the previous close. The annualized return rate is 10.42%, the annualized volatility is 39.06%, and the Sharpe ratio is 0.27 [3]. - **Black Raw Materials Index (NHFM)**: Closed at 1093.83, down 17.92 points or -1.61% from the previous close. The annualized return rate is 0.19%, the annualized volatility is 16.49%, and the Sharpe ratio is 0.01 [3]. - **Building Materials Index (NHBMI)**: Closed at 698.40, down 11.15 points or -1.57% from the previous close. The annualized return rate is -0.03%, the annualized volatility is 14.60%, and the Sharpe ratio is 0.00 [3]. - **Oilseeds and Oils Index (NHOOI)**: Closed at 1322.69, down 3.09 points or -0.23% from the previous close. The annualized return rate is 3.41%, the annualized volatility is 15.30%, and the Sharpe ratio is 0.22 [3]. - **Economic Crops Index (NHAECI)**: Closed at 967.25, down 4.80 points or -0.49% from the previous close. The annualized return rate is 0.88%, the annualized volatility is 10.49%, and the Sharpe ratio is 0.08 [3]. 3.2 Single - Variety Index of Agricultural Products - Palm oil: -0.12% - Rapeseed oil: -0.09% - Five - oil: -0.53% - Rapeseed: -0.62% - Rapeseed meal: -0.71% - Pig: -3.03% - Corn: 0.08% [9] 3.3 Single - Variety Index of Energy and Chemical Sector - Synthetic ammonia: -2.62% - Ethylene: -3.53% - Coal: -1.62% - Vinyl chloride: -2.52% - Methanol: -2.60% - Styrene: -2.08% - LPG: -3.67% - Aromatics: -1.38% - Yarn: -0.16% - Fuel oil: -3.79% - Low - sulfur fuel oil: -4.64% [12]

Report Summary 1. Market Performance - The Nanhua Composite Index rose 0.2% based on the closing prices of adjacent trading days [1]. - Among the sector indices, the Nanhua Energy and Chemical Index had the largest increase of 0.71%, while the Nanhua Black Index had the smallest increase of 0.04%. The Nanhua Precious Metals Index had the largest decline of -2.47%, and the Nanhua Metal Index had the smallest decline of -0.11% [1]. - Among the theme indices, only the Building Materials Index fell by -0.56%. The rest of the theme indices rose, with the Petroleum and Chemical Index having the largest increase of 1.73% and the Black Raw Materials Index having the smallest increase of 0.24% [1]. - Among the single - variety commodity futures indices, the Methanol index had the largest increase of 3.22%, and the Silver index had the largest decline of -3.53% [1][4]. 2. Market Data - The closing price of the Nanhua Commodity Index today is 3058.40, compared to yesterday's 3052.10, with a daily increase of 0.20% and an annualized return rate of 20.07% [3]. 3. Industry Chain and Single - Variety Index Performance - In the energy and chemical sector, the Methanol index rose 3.22%, while Coal fell 0.19% [4][5]. - In the agricultural products sector, Rapeseed had an increase of 1.70%, followed by Rapeseed Meal with 0.38%, Palm Oil with 1.08%, and Canola Oil with 1.30%. Corn had a slight increase of 0.07% [7]. - In the black sector, LPG rose 0.54% and Crude Oil rose 1.38% [10].

Report Summary 1. Report Industry Investment Rating No information provided in the given content. 2. Core View of the Report - According to the closing prices of adjacent trading days, today the Nanhua Composite Index rose by 0.08%. Among the sector indices, the Nanhua Precious Metals Index had the largest increase of 4.49%, and the Nanhua Metal Index had the smallest increase of 0.33%. The Nanhua Energy and Chemical Index had the largest decline of -1.39%, and the Nanhua Agricultural Products Index had the smallest decline of -0.57%. Among the theme indices, only the Economic Crops Index rose by 0.07%, while the rest of the theme indices declined. The Energy Index had the largest decline of -2.59%, and the Mini Composite Index had the smallest decline of -0.64%. Among the single - variety indices of commodity futures, the Silver index had the largest increase of 6.01% [1][3]. 3. Summary by Relevant Catalogs 3.1 Market Data of Nanhua Commodity Index - **Composite Index (NHCl)**: Today's close was 3052.19, up 0.08% from yesterday's close of 3049.76, with an annualized volatility of 20.70% and an annualized return of 15.18%, and a Sharpe ratio of 1.36 [3]. - **Precious Metals Index (NHPMI)**: Rose by 4.49%, with today's close at 1962.51 and yesterday's close at 1878.15, an annualized volatility of 76.38%, an annualized return of 35.58%, and a Sharpe ratio of 2.15 [3]. - **Industrial Products Index (MHII)**: Today's close was 4181.97, down -0.74% from yesterday's close of 4213.15, with an annualized volatility of 11.92% and a Sharpe ratio of 0.70 [3]. - **Metal Index (NHMI)**: Rose by 0.33%, with an annualized volatility of 10.85%, an annualized return of 14.49%, and a Sharpe ratio of 0.75 [3]. - **Energy and Chemical Index (NHECI)**: Today's close was 2030.46, down -1.39% from yesterday's close of 2059.14, with an annualized volatility of 15.52%, an annualized return of 23.41%, and a Sharpe ratio of 0.66 [3]. - **Non - ferrous Metals Index (NHNF)**: Rose by 1.20%, with today's close at 2001.26 and yesterday's close at 1977.61, and an annualized volatility of 17.05%, and a Sharpe ratio of 0.92 [3]. - **Black Index (NHFI)**: Today's close was 2609.33, down -0.74% from yesterday's close of 2631.96, with a Sharpe ratio of 0.05 [3]. - **Agricultural Products Index (NHAI)**: Today's close was 1080.40, down -0.57% from yesterday's close of 1086.56, with an annualized volatility of 7.92%, and a Sharpe ratio of 0.01 [3]. - **Mini Composite Index (NHCIMi)**: Today's close was 1411.71, down -0.64% from yesterday's close of 1420.75, with an annualized volatility of 7.51%, and a Sharpe ratio of 0.28 [3]. - **Energy Index (NHEl)**: Today's close was 1483.41, down -2.59% from yesterday's close of 1522.90, with an annualized volatility of 16.96%, an annualized return of 61.34%, and a Sharpe ratio of 0.28 [3]. - **Petrochemical Index (NHPCl)**: Today's close was 1228.82, down -1.08% from yesterday's close of 1242.20, with an annualized volatility of 37.97%, and a Sharpe ratio of 0.31 [3]. - **Explosive Chemical Index (NHCCI)**: Today's close was 1220.54, down -1.64% from yesterday's close of 1240.94, with an annualized volatility of 10.31%, an annualized return of 38.45%, and a Sharpe ratio of 0.27 [3]. - **Black Raw Materials Index (NHFM)**: Today's close was 1106.52, down -1.44% from yesterday's close of 1122.65, with an annualized volatility of 0.54%, an annualized return of 16.35%, and a Sharpe ratio of 0.03 [3]. - **Building Materials Index (NHBMI)**: Rose by 0.54%, with today's close at 714.30 and yesterday's close at 720.43, down -0.85%, with an annualized volatility of 14.34%, and a Sharpe ratio of 0.04 [3]. - **Oil and Fat Index (NHOOl)**: Today's close was 1306.72, down -0.95% from yesterday's close of 1319.22, with an annualized volatility of 2.40%, an annualized return of 15.44%, and a Sharpe ratio of 0.16 [3]. - **Economic Crops Index (NHAECI)**: Rose by 0.07%, with today's close at 970.38 and yesterday's close at 969.71 [3]. 3.2 Contribution of Each Variety's Daily Change Rate to the Index Change Rate - For the Nanhua Composite Index, positive - contributing varieties included Gold (30.38%), Natural Rubber (3.97%), etc., and negative - contributing varieties included Natural Rubber (-7.43%), Palm Oil (-2.59%), etc. [3]. - For the Nanhua Mini Composite Index, positive - contributing varieties included Gold (20.52%), and negative - contributing varieties included Stainless Steel (-16.85%) [3]. - For the Nanhua Industrial Products Index, positive - contributing varieties included Carbonate Lithium (10.28%), and negative - contributing varieties included Iron Ore (-37.84%) [3]. - For the Nanhua Metal Index, positive - contributing varieties included Aluminum (4.42%), and negative - contributing varieties included Iron Ore (-1.97) [3]. - For the Nanhua Energy and Chemical Index, positive - contributing varieties included Butadiene Rubber (5.67%), and negative - contributing varieties included Polypropylene (-6.97%) [3]. - For the Nanhua Agricultural Products Index, positive - contributing varieties included Cotton (8.41%), and negative - contributing varieties included Rapeseed Oil (-5.52%) [3]. 3.3 Single - Variety Index Daily Change Rate in Different Sectors - **Energy and Chemical Sector**: Glass rose by 0.33%, Synthetic Ammonia rose by 0.69%, Urea rose by 0.02%, Liquid Oxygen Element rose by 2.52%, LLDPE (Polyethylene) fell by -2.21%, Natural Rubber rose by 1.66%, Olefins rose by 5.27%, 20 - number Rubber rose by 1.94%, Naphtha rose by 1.68%, and Coal rose by 1.98% [3][4]. - **Agricultural Products Sector**: Palm Oil fell by -1.34%, Rapeseed Oil fell by -1.04%, Rapeseed fell by -2.94%, Rapeseed Meal fell by -1.08%, and Pig fell by -0.41% [6]. - **Black Sector**: PTA fell by -5.01%, Fuel Oil fell by -5.01% [9].

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core View of the Report - According to the closing prices of adjacent trading days, the Nanhua Composite Index fell by -1.63% today. Among the sector indices, the Nanhua Precious Metals Index had the largest increase of 6.69%, the Nanhua Metal Index had the smallest increase of 0.76%, the Nanhua Energy and Chemical Index had the largest decline of -5.95%, and the Nanhua Black Index had the smallest decline of -0.34%. All theme indices declined, with the Energy Index having the largest decline of -9.09% and the Economic Crops Index having the smallest decline of -0.46%. Among the single - variety indices of commodity futures, the Silver index had the largest increase of 10.86% [1][3]. Group 3: Summary by Relevant Catalog Market Data of Nanhua Commodity Index - The Nanhua Composite Index (NHCI) closed at 3049.76 today, down 50.44 points or -1.63% from yesterday, with an annualized return rate of 21.63%, an annualized volatility of 15.20%, and a Sharpe ratio of 1.42. The Nanhua Precious Metals Index (NHPMI) closed at 1878.15, up 117.81 points or 6.69%, with an annualized return rate of 70.09%, an annualized volatility of 35.33%, and a Sharpe ratio of 1.98. The Nanhua Industrial Products Index (NHII) closed at 4213.15, down 132.82 points or -3.06%, with an annualized return rate of 13.57%, an annualized volatility of 17.11%, and a Sharpe ratio of 0.79. The Nanhua Metal Index (NHMI) closed at 7123.66, up 53.87 points or 0.76%, with an annualized return rate of 11.00%, an annualized volatility of 14.49%, and a Sharpe ratio of 0.76. The Nanhua Energy and Chemical Index (NHECI) closed at 2059.14, down 130.26 points or -5.95%, with an annualized return rate of 18.17%, an annualized volatility of 23.38%, and a Sharpe ratio of 0.78. The Nanhua Non - ferrous Metals Index (NHNF) closed at 1977.61, up 22.68 points or 1.16%, with an annualized return rate of 15.70%, an annualized volatility of 18.58%, and a Sharpe ratio of 0.85. The Nanhua Black Index (NHFI) closed at 2631.96, down 8.93 points or -0.34%, with an annualized return rate of 2.75%, an annualized volatility of 16.06%, and a Sharpe ratio of 0.17. The Nanhua Agricultural Products Index (NHAI) closed at 1086.56, down 13.09 points or -1.19%, with an annualized return rate of 0.91%, an annualized volatility of 7.90%, and a Sharpe ratio of 0.12. The Mini Composite Index (NHCIMi) closed at 1420.75, down 48.66 points or -3.31%, with an annualized return rate of 8.31%, an annualized volatility of 26.53%, and a Sharpe ratio of 0.31. The Energy Index (NHEI) closed at 1522.90, down 152.27 points or -9.09%, with an annualized return rate of 19.24%, an annualized volatility of 60.87%, and a Sharpe ratio of 0.32. The Petrochemical Index (NHPCI) closed at 1242.20, down 84.94 points or -6.40%, with an annualized return rate of 12.39%, an annualized volatility of 37.75%, and a Sharpe ratio of 0.33. The Fine Chemical Index (NHCCI) closed at 1240.94, down 84.33 points or -6.36%, with an annualized return rate of 11.32%, an annualized volatility of 38.10%, and a Sharpe ratio of 0.30. The Black Raw Materials Index (NHFM) closed at 1122.65, down 7.08 points or -0.63%, with an annualized return rate of 1.00%, an annualized volatility of 16.00%, and a Sharpe ratio of 0.06. The Building Materials Index (NHBMI) closed at 720.43, down 12.27 points or -1.67%, with an annualized return rate of 0.56%, an annualized volatility of 14.32%, and a Sharpe ratio of 0.04. The Oilseeds and Oils Index (NHOOI) closed at 1319.22, down 25.47 points or -1.89%, with an annualized return rate of 2.93%, an annualized volatility of 15.24%, and a Sharpe ratio of 0.19. The Economic Crops Index (NHAECI) closed at 969.71, down 4.49 points or -0.46%, with an annualized return rate of 1.21%, an annualized volatility of 10.89%, and a Sharpe ratio of 0.11 [3]. Agricultural Products Sector - Rapeseed had a single - variety index increase of 0.46%, rapeseed oil decreased by -2.41%, soybean meal decreased by -1.38%, and live pigs increased by 0.65% [8]. Energy and Chemical Sector - Synthetic ammonia decreased by -1.27%, polyvinyl chloride decreased by -1.27%, coal increased by 0.38%, polyethylene decreased by -6.33%, methanol decreased by -6.33%, styrene decreased by -7.48%, LPG decreased by -5.79%, PTA decreased by -6.17%, fuel oil decreased by -11.35% [6][11].

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core View of the Report - According to the closing prices of adjacent trading days, the Nanhua Composite Index rose 3.89% today. Among the sector indices, only the Nanhua Precious Metals Index fell by -0.01%, while the rest of the sectors rose. The sector with the largest increase was the Nanhua Energy and Chemical Index, with a gain of 7.04%, and the sector with the smallest increase was the Nanhua Non - ferrous Metals Index, with a gain of 0.18%. All theme indices rose, with the Energy Index having the largest increase of 12.08% and the Economic Crops Index having the smallest increase of 0.24%. Among the single - variety indices of commodity futures, the single - variety index with the largest increase was the European Line, rising 15.39%, and the single - variety index with the largest decline was Tin, with a decline of -2.47% [1][3] Group 3: Summary by Directory Market Data of Nanhua Commodity Index - The closing price of the Nanhua Composite Index (NHCl) today was 3118.32, up 116.62 points or 3.89% from yesterday, with an annualized return of 21.91%, an annualized volatility of 14.72%, and a Sharpe ratio of 1.49. The Nanhua Precious Metals Index (NHPMI) closed at 2257.19, down 0.13 points or -0.01%, with an annualized return of 103.84%, an annualized volatility of 31.79%, and a Sharpe ratio of 3.27. Other indices also had their respective closing prices, point changes, percentage changes, annualized returns, annualized volatilities, and Sharpe ratios [3] Agricultural Products Sector - In the agricultural products sector, the Nanhua Agricultural Products Index (NHAI) closed at 1114.15, up 22.12 points or 2.03%. Some single - variety indices in the agricultural products sector had the following percentage changes: Palm Oil rose 5.45%, Rapeseed Oil rose 2.98%, Rapeseed rose 3.81%, Sesame Seeds rose 2.49%, Corn rose 0.08% [3][9] Energy and Chemical Sector - The Nanhua Energy and Chemical Index (NHECI) closed at 1981.47, up 130.24 points or 7.04%. Some single - variety indices in the energy and chemical sector had the following percentage changes: Synthetic Ammonia rose 9.44%, LPG rose 6.13%, Aromatics rose 4.05%, Low - sulfur Fuel Oil rose 12.12% [3][12] Black Sector - The Nanhua Black Index (NHFI) closed at 2555.81, up 32.62 points or 1.29%. Some single - variety indices in the black sector also had their respective percentage changes [3]

Group 1: Market Overview - The Nanhua Composite Index rose 0.46% based on the closing prices of adjacent trading days [1][4] - Among the sector indices, only the Nanhua Energy and Chemical Index fell by -0.1%, while the rest rose. The Nanhua Non - ferrous Metals Index had the largest increase of 0.97%, and the Nanhua Black Index had the smallest increase of 0.2% [1][4] - Among the theme indices, the Mini Composite Index had the largest increase of 0.48%, and the Economic Crops Index had the smallest increase of 0.1%. The Coal - based Chemical Index had the largest decline of -0.83%, and the Building Materials Index had the smallest decline of -0.09% [1][4] - Among the single - variety indices of commodity futures, the tin index had the largest increase of 9.07%, and the alumina index had the largest decline of -2.7% [1][4] Group 2: Index Data - The Nanhua Composite Index closed at 2820.27 today, up 12.98 points from yesterday's close of 2807.29, with an annualized return of 10.01%, an annualized volatility of 13.92%, and a Sharpe ratio of 0.72 [3] Group 3: Industry Chain and Variety Performance - In the energy and chemical sector, synthetic ammonia rose 0.25%, while ethylene, PTA, and other varieties had different degrees of decline [4][11] - In the black sector, relevant variety chain information is presented, but specific performance data is not detailed [5] - In the agricultural products sector, rapeseed rose 1.66%, while rapeseed meal fell -0.39%, and other varieties also had different performance [8]

1. Report Industry Investment Rating - No information provided in the given content. 2. Core View of the Report - This week, the Nanhua Comprehensive Index rose 72.31 points, a 2.6% increase. The most influential varieties were crude oil and silver, with the crude oil variety index having a 6.62% change and a 1.09% contribution, and the silver variety index having an 11.92% change and a 0.72% contribution [1][2]. - The Nanhua Industrial Products Index rose 49.5 points, a 1.35% increase. The most influential varieties were crude oil and copper, with the crude oil variety index contributing 1.16% and the copper variety index contributing 0.19% [1][2]. - The Nanhua Metal Index rose 59.45 points, a -0.81% increase. The most influential variety was lithium carbonate, with a -0.64% contribution [1][2]. - The Nanhua Energy and Chemical Index rose 36.54 points, a 2.32% increase. The most influential variety was crude oil, with a 1.65% contribution [2]. - The Nanhua Agricultural Products Index rose 8.66 points, a 0.82% increase. The most influential variety was palm oil, with a 0.49% contribution [2]. 3. Summary According to Relevant Catalogs 3.1. Weekly Data Review | Index Name | This Week's Closing | Last Week's Closing | Points Change | Change Rate | This Week's Maximum | This Week's Minimum | | --- | --- | --- | --- | --- | --- | --- | | Comprehensive Index NHCI | 2858.00 | 2785.69 | 72.31 | 2.60% | 2930.69 | 2785.69 | | Precious Metals Index NHPMI | 2489.62 | 2321.77 | 167.85 | 7.23% | 2706.98 | 2321.77 | | Industrial Products Index NHII | 3710.33 | 3660.83 | 49.50 | 1.35% | 3773.37 | 3660.54 | | National Index NHMI | 7258.81 | 7318.26 | -59.45 | -0.81% | 7488.48 | 7258.81 | | Energy and Chemical Index NHECI | 1609.51 | 1572.97 | 36.54 | 2.32% | 1621.97 | 1571.76 | | Non - ferrous Metals Index NHNFI | 2091.14 | 2109.97 | -18.83 | -0.89% | 2191.16 | 2091.14 | | Black Index NHFI | 2552.37 | 2566.01 | -13.64 | -0.53% | 2575.48 | 2534.26 | | Agricultural Products Index NHAI | 1069.77 | 1061.11 | 8.66 | 0.82% | 1079.46 | 1061.11 | | NHCIMi | 1238.91 | 1201.71 | 37.20 | 3.10% | 1261.16 | 1201.71 | | NHEI | 1039.83 | 988.87 | 50.96 | 5.15% | 1043.55 | 988.87 | | NHPCI | 961.00 | 956.07 | 4.93 | 0.52% | 970.85 | 948.11 | | HCCI | 973.12 | 961.61 | 11.50 | 1.20% | 976.27 | 960.83 | | NHEMI | 1068.45 | 1070.50 | -2.05 | -0.19% | 1075.29 | 1053.62 | | NHBMI | 696.47 | 695.46 | 1.01 | 0.14% | 699.58 | 692.96 | | NHOOI | 1255.15 | 1226.28 | 28.86 | 2.35% | 1270.22 | 1226.28 | | NHAECI | 933.38 | 930.56 | 2.82 | 0.30% | 942.82 | 925.95 | [3] 3.2. Nanhua Variety Index Strength - Weakness Arbitrage Data - The report provides data on the comparison of Nanhua commodity indexes, including the current value, change, ranking, and previous value of various index ratios. For example, the ratio of the precious metals index to the comprehensive index is 0.871, with a change of 0.04 compared to the previous week [8]. 3.3. Nanhua Sector Index Weekly Data 3.3.1. Nanhua Industrial Products Index - The most influential varieties are crude oil, copper, fuel oil, zinc, polyvinyl chloride, and polypropylene. Crude oil has a 6.62% change and a 1.16% contribution, copper has a 2.26% change and a 0.19% contribution [13]. 3.3.2. Nanhua Metal Index - The most influential varieties are lithium carbonate, nickel, and tin. Lithium carbonate has an -18.36% change and a -0.64% contribution, nickel has a -5.43% change and a -0.56% contribution [13]. 3.3.3. Nanhua Energy and Chemical Index - The most influential varieties are crude oil, fuel oil, and petroleum asphalt. Crude oil has a 6.62% change and a 1.65% contribution, fuel oil has a 7.12% change and a 0.28% contribution [13]. 3.3.4. Nanhua Agricultural Products Index - The most influential varieties are palm oil, rapeseed oil, and raw materials. Palm oil has a 3.70% change and a 0.49% contribution, rapeseed oil has a 4.33% change and a 0.40% contribution [13]. 3.3.5. Nanhua Black Index - The most influential varieties are stainless steel, rebar, and iron ore. Stainless steel has a -3.53% change and a -0.27% contribution, rebar has a -0.45% change and a -0.16% contribution [14]. 3.3.6. Nanhua Non - ferrous Index - The most influential varieties are lithium carbonate, nickel, and tin. Lithium carbonate has an -18.36% change and a -1.11% contribution, nickel has a -5.43% change and a -0.97% contribution [16]. 3.4. Contribution of Each Variety's Daily Change Rate to the Index Change Rate - The report lists the average weekly holding volume, month - on - month increase, and holding volume ratio of various futures varieties. For example, the average weekly holding volume of soybean meal is 3867049 hands, with a 1.72% month - on - month increase and a 9.45% holding volume ratio [18].

Group 1: Report Summary - The South China Composite Index fell by -0.73% today based on the closing prices of adjacent trading days [1]. - Among the sector indices, only the South China Agricultural Products Index rose by 0.17%, while the rest declined. The South China Non - Ferrous Metals Index had the largest decline of -2.98%, and the South China Black Index had the smallest decline of -0.44% [1]. - Among the theme indices, the Oilseeds and Oils Index had the largest increase of 0.65%, and the Building Materials Index had the smallest increase of 0.09%. The Energy Index had the largest decline of -1.85%, and the Mini Composite Index had the smallest decline of -0.38% [1]. - Among the single - variety indices of commodity futures, the Rapeseed Oil Index had the largest increase of 2.66%, and the Lithium Carbonate Index had the largest decline of -10.43% [1][3]. Group 2: Index Market Data - **South China Composite Index (NHCI)**: Today's close is 2723.27, down 2.43 points (-0.09%) from yesterday. The annualized return rate is 9.90%, the annualized volatility is 12.00%, and the Sharpe ratio is 0.82 [3]. - **Precious Metals Index (NHPMI)**: Today's close is 2180.86, up 5.64 points (0.26%) from yesterday. The annualized return rate is 110.22%, the annualized volatility is 21.49%, and the Sharpe ratio is 5.13 [3]. - **Industrial Products Index (NHII)**: Today's close is 3586.63, down 18.17 points (-0.50%) from yesterday. The annualized return rate is -3.89%, the annualized volatility is 14.16%, and the Sharpe ratio is -0.28 [3]. - **Full - house Index (NHMI)**: Today's close is 7170.98, down 8.59 points (-0.12%) from yesterday. The annualized return rate is 15.85%, the annualized volatility is 12.79%, and the Sharpe ratio is 1.24 [3]. - **Energy and Chemical Index (NHECI)**: Today's close is 1528.77, down 8.60 points (-0.56%) from yesterday. The annualized return rate is -15.12%, the annualized volatility is 16.84%, and the Sharpe ratio is -0.90 [3]. - **Non - Ferrous Metals Index (NHNF)**: Today's close is 2053.38, up 5.00 points (0.24%) from yesterday. The annualized return rate is 26.48%, the annualized volatility is 14.64%, and the Sharpe ratio is 1.81 [3]. - **Black Index (NHFI)**: Today's close is 2530.10, down 26.38 points (-1.03%) from yesterday. The annualized return rate is -0.47%, the annualized volatility is 16.37%, and the Sharpe ratio is -0.03 [3]. - **Agricultural Products Index (NHAI)**: Today's close is 1052.92, up 0.57 points (0.05%) from yesterday. The annualized return rate is 2.61%, the annualized volatility is 7.89%, and the Sharpe ratio is 0.33 [3]. - **Mini Composite Index (NHCIMi)**: Today's close is 1181.00, down 0.80 points (-0.07%) from yesterday. The annualized return rate is -0.32%, the annualized volatility is 9.13%, and the Sharpe ratio is -0.04 [3]. - **Energy Index (NHEI)**: Today's close is 968.59, down 7.44 points (-0.76%) from yesterday. The annualized return rate is -2.68%, the annualized volatility is 17.50%, and the Sharpe ratio is -0.15 [3]. - **Petrochemical Index (NHPCI)**: Today's close is 907.89, up 1.53 points (0.17%) from yesterday. The annualized return rate is 1.21%, the annualized volatility is 10.55%, and the Sharpe ratio is 0.12 [3]. - **Coal - Chemical Index (NHCCI)**: Today's close is 923.88, down 4.92 points (-0.53%) from yesterday. The annualized return rate is -0.01%, the annualized volatility is 12.24%, and the Sharpe ratio is 0.00 [3]. - **Colored Raw Materials Index (NHFM)**: Today's close is 1054.74, down 13.31 points (-1.25%) from yesterday. The annualized return rate is -0.02%, the annualized volatility is 16.82%, and the Sharpe ratio is 0.00 [3]. - **Building Materials Index (NHBMI)**: Today's close is 687.09, down 5.51 points (-0.79%) from yesterday. The annualized return rate is -0.51%, the annualized volatility is 12.88%, and the Sharpe ratio is -0.04 [3]. - **Oilseeds and Oils Index (NHOOl)**: Today's close is 1216.05, up 6.84 points (0.57%) from yesterday. The annualized return rate is -1.09%, the annualized volatility is 8.42%, and the Sharpe ratio is -0.13 [3]. - **Economic Crops Index (NHAECI)**: Today's close is 921.65, down 3.47 points (-0.37%) from yesterday. The annualized return rate is 0.54%, the annualized volatility is 9.10%, and the Sharpe ratio is 0.06 [3]. Group 3: Other Information - The calculation method of the rise - fall ratio in the text is the ratio of today's closing price to yesterday's closing price, and the contribution degree is the product of the rise - fall ratio and the weight. The South China Commodity Index eliminates the price difference when the commodity contract is rolled over, reflecting the real return of investing in commodity futures [10]. - The contribution degree calculation method used in the text is: the rise - fall ratio of a certain variety on the day / ∑|the rise - fall ratio of each variety on the day|. The colored data bar represents that the variety rose on the day, and the blue data bar represents that the variety fell on the day [10].

Group 1: Report Summary - The Nanhua Composite Index rose 0.43% based on the closing prices of adjacent trading days [1][5][6] - Among the sector indices, only the Nanhua Precious Metals Index declined by -1.53%, while the rest increased. The Nanhua Energy and Chemical Index had the largest increase of 1.07%, and the Nanhua Black Index had the smallest increase of 0.36% [1][5][6] - All the theme indices increased. The Coal Chemical Index had the largest increase of 1.19%, and the Mini Composite Index had the smallest increase of 0.11% [1][5][6] - In the single - variety indices of commodity futures, the nickel index had the largest increase of 5.28%, and the tin index had the largest decline of -2.43% [1][5] Group 2: Index Data Details Nanhua Commodity Index | Index Name | Today Close | Pre. Close | Points | Daily Return | Annualized Return | Annualized Volatility | Sharpe Ratio | | --- | --- | --- | --- | --- | --- | --- | --- | | Composite Index NHCI | 2648.57 | 2637.12 | 11.45 | 0.43% | 7.16% | 11.55% | 0.62 | | Precious Metals Index NHPMI | 1892.13 | 1921.55 | -29.42 | -1.53% | 87.24% | 19.46% | 4.48 | | Industrial Goods Index NHII | 3561.07 | 3534.24 | 26.82 | 0.76% | -4.85% | 13.80% | -0.35 | | National Index NHMI | 6894.27 | 6866.03 | 28.24 | 0.41% | 10.31% | 11.91% | 0.87 | | Energy and Chemical Index NHECI | 1538.61 | 1522.34 | 16.27 | 1.07% | -14.74% | 16.66% | -0.88 | | Non - ferrous Metals Index NHNF | 1922.50 | 1908.43 | 14.08 | 0.74% | 19.02% | 12.85% | 1.48 | | Black Index NHFI | 2536.94 | 2527.86 | 9.07 | 0.36% | -3.87% | 16.12% | -0.24 | | Agricultural Products Index NHAI | 1055.07 | 1049.30 | 5.78 | 0.55% | 3.31% | 7.92% | 0.42 | | Mini Composite Index NHCIMi | 1168.35 | 1167.06 | 1.29 | 0.11% | -0.56% | 8.78% | -0.06 | | Energy Index NHEI | 969.13 | 961.05 | 8.09 | 0.84% | -2.90% | 15.90% | -0.18 | | Petrochemical Index NHPCI | 896.72 | 892.09 | 4.63 | 0.52% | -0.07% | 10.12% | -0.01 | | Coal Chemical Index NHCCI | 917.95 | 907.15 | 10.80 | 1.19% | -1.88% | 11.17% | -0.17 | | Black Raw Materials Index NHFM | 1066.98 | 1063.40 | 3.58 | 0.34% | 0.01% | 15.01% | 0.00 | | Building Materials Index NHBMI | 693.67 | 688.02 | 5.65 | 0.82% | -0.69% | 11.69% | -0.06 | | Oilseeds and Oils Index NHOOI | 1220.58 | 1210.70 | 9.88 | 0.82% | -0.47% | 7.94% | -0.06 | | Economic Crops Index NHAECI | 923.72 | 919.25 | 4.48 | 0.49% | 0.82% | 7.54% | 0.11 | [6] Single - Variety Index Daily Changes in Some Sectors Energy and Chemical Sector | Variety | Daily Change | | --- | --- | | Synthetic Ammonia | 2.77% | | Coal | 0.48% | | Methanol | 2.68% | | Polypropylene | 0.75% | | Naphtha | 0.50% | | Crude Oil | 0.87% | | Low - Sulfur Fuel Oil | 0.57% | [2] Black Sector | Variety | Daily Change | | --- | --- | | Some varieties | -0.5% - 0.00% (approximate range) | [2] Agricultural Products Sector | Variety | Daily Change | | --- | --- | | Palm Oil | 1.72% | | Rapeseed Oil | 1.64% | | Rapeseed Meal | 0.51% | | Soybean Meal | 0.77% | | Rapeseed | 0.26% | | Rapeseed Cake | 0.67% | | Live Pigs | 0.64% | | Some other variety | -0.84% | [11] Group 3: Calculation Rules - The rise and fall in the text is the ratio of (today's closing price) to (yesterday's closing price). The contribution is the product of the rise and fall and the weight [7] - The Nanhua Commodity Index eliminates the price difference when commodity contracts are rolled over, reflecting the real return of investing in commodity futures [7] - The contribution calculation method used in the text: A variety's daily rise and fall / ∑|All varieties' daily rise and fall|. Red data bars represent rising varieties on the day, and blue data bars represent falling varieties on the day [7]

Group 1: Stock Indices - The Shanghai Composite Index closed at 3965.12 points on December 30, with a slight decrease of 0.16 points, representing a 0% change [4] - The Shenzhen Component Index increased by 66.97 points, closing at 13604.07 points, reflecting a 0.49% rise [4] - The CSI 300 Index rose by 11.91 points to close at 4651.28 points, marking a 0.26% increase [4] - The ChiNext Index saw an increase of 20.29 points, closing at 3242.90 points, which is a 0.63% gain [4] - The STAR Market 50 Index closed at 1359.87 points, up by 13.55 points, indicating a 1.01% increase [4] Group 2: Commodity Indices - The document includes various commodity indices such as live pigs, lithium carbonate, PTA, cotton, rebar, white sugar, rubber, PVC, crude oil, coking coal, palm oil, soda ash, soybean meal, glass, and red dates, but specific data for these commodities is not provided in the excerpts [5][9][11][13][15][16][18][20][22][23][25][26][28][30][31][39][42][44][46][48][49][51][53][55][56][58][59][61]