Group 1 - The core viewpoint of the news is the launch of the "Galaxy Futures Series Index" by Galaxy Futures to address the lack of systematic tools for trend representation and strategy transparency in the futures market [1] - The newly released 14 indices include 2 comprehensive indices, 5 sector indices, 1 single commodity index, and 6 strategy indices, aiming to provide a comprehensive solution for investors [1][2] - The Galaxy Commodity Futures Comprehensive Index aims to depict the overall performance of core varieties in the Chinese commodity futures market, incorporating a dynamic weighting mechanism to blend fundamental and technical analysis [1] Group 2 - The Galaxy Global Commodity Selected Index focuses on capturing investment opportunities in commodities under global liquidity and inflation cycles, emphasizing commodities that are highly correlated with international markets [1] - The sector indices cover five major areas: non-ferrous metals, precious metals, agricultural products, black series, and energy chemicals, reflecting the overall performance of different commodity categories amid macroeconomic changes and market structure evolution [2] - The indices serve as a professional benchmark for identifying structural opportunities and transforming advanced methodologies into investable strategies, while also facilitating the connection between professional markets and broader demand [2]

Report Summary 1. Index Performance - The Nanhua Comprehensive Index rose 1.42% to 2584.69, with an annualized return of 2.01% and an annualized volatility of 11.58% [1][3] - Among the sector indices, the Nanhua Precious Metals Index had the largest increase of 3.45%, reaching 1826.04, while the Nanhua Black Index had the smallest increase of 0.28%, at 2527.31 [1][3] - Among the theme indices, the Energy Index rose 2.05% to 972.56, and the Economic Crop Index had the smallest increase of 0.14% at 903.49. The Building Materials Index had the largest decline of -0.28% to 679.92 [1][3] - In the single - variety commodity futures indices, the Silver index had the largest increase of 5.42%, and the Polypropylene index had the largest decline [1][4] 2. Index Data Details | Index Name | Today Close | Pre. Close | Points | Daily Change | Annualized Return | Annualized Volatility | Sharpe Ratio | | --- | --- | --- | --- | --- | --- | --- | --- | | Comprehensive Index NHCI | 2584.69 | 2548.39 | 36.30 | 1.42% | 2.01% | 11.58% | 0.17 | | Precious Metals Index NHPMI | 1826.04 | 1765.15 | 60.89 | 3.45% | 74.65% | 19.20% | 3.89 | | Industrial Products Index NHII | 3493.62 | 3460.46 | 33.16 | 0.96% | - 8.14% | 13.81% | -0.59 | | Metal Index NHMI | 6723.72 | 6672.06 | 51.66 | 0.77% | 4.58% | 11.97% | 0.38 | | Energy and Chemical Index NHECI | 1513.23 | 1497.21 | 16.02 | 1.07% | -16.78% | 16.60% | -1.01 | | Non - ferrous Metals Index NHNF | 1851.85 | 1831.17 | 20.68 | 1.13% | 11.83% | 12.67% | 0.93 | | Black Index NHFI | 2527.31 | 2520.31 | 7.00 | 0.28% | -7.98% | 16.36% | -0.49 | | Agricultural Products Index NHAI | 1030.32 | 1024.66 | 5.66 | 0.55% | -3.64% | 8.19% | -0.44 | | Mini Comprehensive Index NHCIMi | 1161.70 | 1146.24 | 15.46 | 1.35% | -1.31% | 9.70% | -0.14 | | Energy Index NHEI | 972.56 | 953.02 | 19.53 | 2.05% | -1.10% | 18.01% | -0.06 | | Petrochemical Index NHPCI | 872.46 | 862.93 | 9.53 | 1.10% | -0.81% | 9.56% | -0.08 | | Coal - based Chemical Index NHCCI | 886.96 | 889.22 | -2.27 | -0.25% | -3.37% | 10.33% | -0.33 | | Black Raw Materials Index NHEM | 1064.11 | 1061.85 | 2.27 | 0.21% | 0.54% | 15.68% | 0.03 | | Building Materials Index NHBMI | 679.92 | 681.80 | -1.88 | -0.28% | -1.85% | 11.78% | -0.16 | | Oilseeds and Oils Index NHOOI | 1195.55 | 1185.56 | 9.99 | 0.84% | -1.57% | 7.80% | -0.20 | | Economic Crop Index NHAECI | 903.49 | 902.24 | 1.25 | 0.14% | 0.58% | 7.43% | 0.08% [3] 3. Other Information - The calculation method of the contribution degree in the report is the product of the daily increase/decrease and the weight. The Nanhua Commodity Index eliminates the price difference when the commodity contract changes months, reflecting the real return of investing in commodity futures [9] - The report provides the industrial chain diagrams and the daily increase/decrease of single - variety indices of some varieties in the agricultural products, energy and chemical, and black sectors [7][13]

Group 1: Market Performance Summary - Based on the closing prices of adjacent trading days, the Nanhua Composite Index fell -0.17% today [1][3]. - Among the sector indices, only the Nanhua Precious Metals Index rose 1.33%, while the rest declined. The Nanhua Non - Ferrous Metals Index had the largest decline of -0.61%, and the Nanhua Agricultural Products Index had the smallest decline of -0.23% [1][3]. - All theme indices declined. The Coal - to - Chemical Index had the largest decline of -0.77%, and the Mini Composite Index had the smallest decline of -0.08% [1][3]. - In the commodity futures single - variety indices, the silver index had the largest increase of 1.68%, and the lithium carbonate index had the largest decline of -3.14% [1][3]. Group 2: Index - Specific Data Comprehensive Index - The Nanhua Composite Index (NHCI) closed at 2538.87 today, down from 2543.12 yesterday, a decrease of -4.24 points or -0.17%. Its annualized return rate is 0.10%, annualized volatility is 11.69%, and the Sharpe ratio is 0.01 [3]. Sector Indices - The Nanhua Precious Metals Index (NHPMI) closed at 1514.74, up 19.86 points or 1.33% from the previous day. Its annualized return rate is 41.62%, annualized volatility is 18.18%, and the Sharpe ratio is 2.29 [3]. - The Nanhua Industrial Products Index (NHII) closed at 3556.67, down -16.22 points or -0.45% from yesterday. Its annualized return rate is -6.44%, annualized volatility is 14.02%, and the Sharpe ratio is -0.46 [3]. - The Nanhua Metal Index (NHMI) closed at 6485.90, down -30.03 points or -0.46% from the previous day. Its annualized return rate is 1.52%, annualized volatility is 12.25%, and the Sharpe ratio is 0.12 [3]. - The Nanhua Energy and Chemical Index (NHECI) closed at 1590.82, down -8.46 points or -0.53% from yesterday. Its annualized return rate is -13.23%, annualized volatility is 16.72%, and the Sharpe ratio is -0.79 [3]. - The Nanhua Non - Ferrous Metals Index (NHNF) closed at 1747.44, down -10.66 points or -0.61% from the previous day. Its annualized return rate is 4.31%, annualized volatility is 12.51%, and the Sharpe ratio is 0.34 [3]. - The Nanhua Black Index (NHFI) closed at 2565.73, down -8.12 points or -0.32% from yesterday. Its annualized return rate is -5.68%, annualized volatility is 17.09%, and the Sharpe ratio is -0.33 [3]. - The Nanhua Agricultural Products Index (NHAI) closed at 1049.31, down -2.37 points or -0.23% from the previous day. Its annualized return rate is -1.51%, annualized volatility is 8.76%, and the Sharpe ratio is -0.17 [3]. Theme Indices - The Mini Composite Index (NHCIMi) closed at 1177.34, down -0.92 points or -0.08% from the previous day. Its annualized return rate is -0.86%, annualized volatility is 9.73%, and the Sharpe ratio is -0.09 [3]. - The Cement Index (NHEI) closed at 1034.65, down -1.70 points or -0.16% from the previous day. Its annualized return rate is -0.85%, annualized volatility is 19.69%, and the Sharpe ratio is -0.04 [3]. - The Petrochemical Index (NHPCI) closed at 892.65, down -3.18 points or -0.35% from the previous day. Its annualized return rate is -2.55%, annualized volatility is 9.90%, and the Sharpe ratio is -0.26 [3]. - The Coal - to - Chemical Index (NHCCI) closed at 945.83, down -7.30 points or -0.77% from the previous day. Its annualized return rate is -3.59%, annualized volatility is 9.54%, and the Sharpe ratio is -0.38 [3]. - The Black Raw Materials Index (NHFM) closed at 1091.71, down -5.34 points or -0.49% from the previous day. Its annualized return rate is 1.34%, annualized volatility is 16.61%, and the Sharpe ratio is 0.08 [3]. - The Building Materials Index (NHBMI) closed at 713.22, down -2.77 points or -0.39% from the previous day. Its annualized return rate is -2.02%, annualized volatility is 12.43%, and the Sharpe ratio is -0.16 [3]. - The Oilseeds and Oils Index (NHOOI) closed at 1227.58, down -3.15 points or -0.26% from the previous day. Its annualized return rate is -2.31%, annualized volatility is 11.62%, and the Sharpe ratio is -0.20 [3]. - The Economic Crops Index (NHAECI) closed at 916.78, down -0.97 points or -0.11% from the previous day. Its annualized return rate is 0.32%, annualized volatility is 7.60%, and the Sharpe ratio is 0.04 [3]. Group 3: Single - Variety Index Data Metal Index - Coal in the metal index had a decline of -0.27% [7]. Agricultural Products Sector - Palm oil had a decline of -0.72%, rapeseed oil had a decline of -1.12%, lumber had a decline of -0.54%, live pigs had a decline of -0.55%, and corn's data is incomplete [9]. Energy and Chemical Sector - Some varieties in the energy and chemical sector had declines such as -0.73%, -0.81%, -1.12%, and -0.11%, and polyethylene had an increase of 0.29% [12].

Report Date - The report is dated October 20, 2025 [3] Index Performance Overall Index - The Nanhua Composite Index (NHCI) closed at 2515.75, down 0.24% (-6.15 points) from the previous close of 2521.90 [3] Sector Indexes - The Nanhua Precious Metals Index (NHPMI) dropped 3.42% to 1577.33, the biggest decline among sectors [1][3] - The Nanhua Agricultural Products Index (NHAI) rose 1.28% to 1058.04, the largest gain among sectors [1][3] - The Nanhua Metals Index (NHMI) edged up 0.13% to 6357.97, the smallest gain among sectors [1][3] Theme Indexes - The Economic Crops Index led the gainers, rising 1.24% [1] - The Building Materials Index had the smallest gain, up 0.16% [1] - The Mini Composite Index had the largest decline, down 0.32% [1] - The Coal - Chemical Index had the smallest decline, down 0.17% [1] Single - Variety Indexes - The Pig Index was the top gainer, rising 4.16% [1] - The Silver Index was the biggest loser, down 4.14% [3] Contribution to Index Fluctuations Nanhua Mini Composite Index - Positive contributors include Coke (8.17%), Crude Oil (3.63%), etc [3] - Negative contributors include Cotton (-10.96%), Rebar (-65.30%), etc [3] Nanhua Industrial Products Index - Positive contributors include Coke (21.32%), Natural Rubber (6.89%), etc [3] - Negative contributors include Cotton (-10.96%), Iron Ore (-65.30%), etc [3] Nanhua Composite Index - Positive contributors include Coke (46.28%), Natural Rubber (6.89%), etc [3] - Negative contributors include Cotton (-10.96%), Rebar (-65.30%), etc [3] Nanhua Metals Index - Positive contributors include Coke (18.61%), Natural Rubber (3.40%), etc [3] - Negative contributors include Cotton (-10.96%), Iron Ore (-65.30%), etc [3] Nanhua Energy - Chemical Index - Positive contributors include Fuel Oil (3.56%), Palm Oil (1.51%), etc [3] - Negative contributors include PVC (-9.31%), Methanol (-1.65%), etc [3] Nanhua Agricultural Products Index - Positive contributors include Rapeseed Meal (9.14%), Crude Oil (8.39%), etc [3] - Negative contributors include Glass (-4.73%), PTA (-1.91%), etc [3] Other Information - The calculation of the Nanhua Commodity Index excludes the spread at the time of contract roll - over, reflecting the real return of investing in the commodity system [8] - The contribution is calculated as the product of the change rate and the weight, and the calculation method for contribution is: a certain variety's daily change rate / Σ (each variety's daily change rate) [8]

Report Summary 1) Report Industry Investment Rating - Not provided in the given content 2) Core Viewpoints - Calculated based on the closing prices of adjacent trading days, today the Nanhua Composite Index rose by 0.96%. Among the sector indices, only the Nanhua Precious Metals Index fell by -0.32%, while the rest all rose, with the Nanhua Non - Ferrous Metals Index having the largest increase of 1.67% and the Nanhua Black Index having the smallest increase of 0.5% [1][3]. - All theme indices rose, with the Energy Index having the largest increase of 1.55% and the Coal - to - Chemical Index having the smallest increase of 0.28% [1][3]. - Among the single - variety indices of commodity futures, the International Copper index had the largest increase of 3.59%, and the Gold index had the largest decrease of - 0.61% [1][3]. 3) Summaries by Related Catalogs Market Data of Nanhua Commodity Index - The Nanhua Composite Index (NHCI) closed at 2568.05, up 24.38 points or 0.96% from the previous trading day, with an annualized return of 8.49%, an annualized volatility of 12.74%, and a Sharpe ratio of 0.67 [3]. - The Nanhua Precious Metals Index (NHPMI) closed at 1392.69, down 4.40 points or - 0.32% from the previous trading day, with an annualized return of 42.06%, an annualized volatility of 16.15%, and a Sharpe ratio of 2.60 [3]. - The Nanhua Industrial Products Index (NHII) closed at 3658.15, up 38.84 points or 1.07% from the previous trading day, with an annualized return of 2.27%, an annualized volatility of 15.31%, and a Sharpe ratio of 0.15 [3]. - The Nanhua Metal Index (NHMI) closed at 6456.92, up 66.24 points or 1.04% from the previous trading day, with an annualized return of 6.24%, an annualized volatility of 13.95%, and a Sharpe ratio of 0.45 [3]. - The Nanhua Energy and Chemical Index (NHECI) closed at 1673.93, up 15.83 points or 0.95% from the previous trading day, with an annualized return of - 2.72%, an annualized volatility of 17.70%, and a Sharpe ratio of - 0.15 [3]. - The Nanhua Non - Ferrous Metals Index (NHNF) closed at 1712.18, up 28.19 points or 1.67% from the previous trading day, with an annualized return of 5.96%, an annualized volatility of 12.66%, and a Sharpe ratio of 0.47 [3]. - The Nanhua Black Index (NHFI) closed at 2594.63, up 12.84 points or 0.50% from the previous trading day, with an annualized return of 1.42%, an annualized volatility of 20.67%, and a Sharpe ratio of 0.07 [3]. - The Nanhua Agricultural Products Index (NHAI) closed at 1076.18, up 8.01 points or 0.75% from the previous trading day, with an annualized return of 3.04%, an annualized volatility of 8.97%, and a Sharpe ratio of 0.34 [3]. - The Nanhua Mini - Composite Index (NHCIMi) closed at 1203.54, up 8.70 points or 0.73% from the previous trading day, with an annualized return of 2.18%, an annualized volatility of 11.00%, and a Sharpe ratio of 0.20 [3]. - The Nanhua Energy Index (NHEI) closed at 1080.42, up 16.52 points or 1.55% from the previous trading day, with an annualized return of - 0.61%, an annualized volatility of 19.53%, and a Sharpe ratio of - 0.03 [3]. - The Nanhua Petrochemical Index (NHPCI) closed at 930.44, up 6.40 points or 0.69% from the previous trading day, with an annualized return of - 1.83%, an annualized volatility of 10.06%, and a Sharpe ratio of - 0.18 [3]. - The Nanhua Coal - to - Chemical Index (NHCCI) closed at 1001.63, up 2.76 points or 0.28% from the previous trading day, with an annualized return of - 3.17%, an annualized volatility of 11.96%, and a Sharpe ratio of - 0.26 [3]. - The Nanhua Black Raw Materials Index (NHFM) closed at 1096.96, up 8.28 points or 0.76% from the previous trading day, with an annualized return of - 0.02%, an annualized volatility of 20.68%, and a Sharpe ratio of 0.00 [3]. - The Nanhua Building Materials Index (NHBMI) closed at 749.33, up 4.44 points or 0.60% from the previous trading day, with an annualized return of - 3.36%, an annualized volatility of 19.50%, and a Sharpe ratio of - 0.17 [3]. - The Nanhua Oilseeds and Oils Index (NHOOI) closed at 1249.41, up 16.76 points or 1.36% from the previous trading day, with an annualized return of 0.21%, an annualized volatility of 12.45%, and a Sharpe ratio of 0.02 [3]. - The Nanhua Economic Crops Index (NHAECI) closed at 896.40, up 3.07 points or 0.34% from the previous trading day, with an annualized return of - 0.67%, an annualized volatility of 7.20%, and a Sharpe ratio of - 0.09 [3]. Agricultural Products Sector - Among the single - variety indices in the agricultural products sector, Palm Oil rose by 1.05%, Rapeseed Oil by 2.23%, Rapeseed by 0.13%, Rapeseed Meal by 2.05%, and Starch by 0.11% [16].

Report Summary 1. Index Performance - The Nanhua Composite Index rose 0.16% based on the closing prices of adjacent trading days [1][4]. - Among the sector indices, only the Nanhua Precious Metals Index fell -0.71%, while the rest rose. The Nanhua Black Index had the largest increase of 1.07%, and the Nanhua Energy - Chemical Index had the smallest increase of 0.02% [1][4]. - Among the theme indices, the Black Raw Materials Index had the largest increase of 1.41%, and the Mini - Composite Index had the smallest increase of 0.02%. The Energy Index had the largest decline of -0.28%, and the Petrochemical Index had the smallest decline of -0.01% [1][4]. - In the commodity futures single - variety indices, the Industrial Silicon index had the largest increase of 4.02%, and the Natural Rubber index had the largest decline of -1.15% [1][4]. 2. Index Data Details | Index Name | Today Close | Pre. Close | Points | Daily % | ARR | An. Vol | Sharpe Ratio | | --- | --- | --- | --- | --- | --- | --- | --- | | Composite Index NHCl | 2449.47 | 2445.63 | 3.84 | 0.16% | -6.46% | 13.94% | -0.46 | | Precious Metals Index NHPMI | 1225.37 | 1234.09 | -8.72 | -0.71% | 27.57% | 17.47% | 1.58 | | Industrial Products Index NHII | 3533.86 | 3518.77 | 15.08 | 0.43% | -13.09% | 15.87% | -0.82 | | Metal Index NHMI | 6150.34 | 6096.11 | 54.23 | 0.89% | -7.58% | 14.94% | -0.51 | | Energy - Chemical Index NHECI | 1647.50 | 1647.11 | 0.40 | 0.02% | -17.78% | 17.91% | -0.99 | | Non - Ferrous Metals Index NHNF | 1666.87 | 1652.05 | 14.82 | 0.90% | -2.07% | 13.67% | -0.15 | | Black Index NHFI | 2358.92 | 2333.97 | 24.95 | 1.07% | -21.21% | 21.24% | -1.00 | | Agricultural Products Index NHAI | 1078.11 | 1077.63 | 0.48 | 0.04% | 1.92% | 9.75% | 0.20 | | Mini - Composite Index NHCIMi | 1133.71 | 1133.53 | 0.18 | 0.02% | -0.66% | 16.23% | -0.04 | | Energy Index NHEI | 1052.31 | 1055.27 | -2.96 | -0.28% | 1.47% | 33.50% | 0.04 | | Petrochemical Index NHPCI | 952.38 | 952.48 | -0.10 | -0.01% | 2.43% | 17.25% | 0.14 | | Coal - Chemical Index NHCCI | 1037.31 | 1039.38 | -2.06 | -0.20% | 1.23% | 16.56% | 0.07 | | Black Raw Materials Index NHFM | 951.79 | 938.54 | 13.26 | 1.41% | -1.43% | 18.24% | -0.08 | | Building Materials Index NHBMI | 722.76 | 717.71 | 5.05 | 0.70% | -2.25% | 14.06% | -0.16 | | Oilseeds and Oils Index NHOOI | 1201.42 | 1200.02 | 1.39 | 0.12% | 0.31% | 10.27% | 0.03 | | Economic Crops Index NHAECI | 892.00 | 892.08 | -0.08 | -0.01% | 0.81% | 7.00% | 0.12 | [4] 3. Single - Variety Index in Agricultural Sector - In the agricultural products sector, the single - variety index daily returns include: soybean oil 0.19%, rapeseed oil - 0.17%, soybean meal 0.34%, rapeseed - 0.33%, live pigs - 0.25%, palm oil 0.35%, and corn [7]. 4. Single - Variety Index in Energy - Chemical Sector - In the energy - chemical sector, the single - variety index daily returns include: synthetic ammonia 0.03%, ethylene - 0.25%, LPG - 0.21%, hydrocarbons - 0.87%, and low - sulfur fuel oil - 0.06% [12].

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core View - Based on the closing prices of adjacent trading days, today the Nanhua Composite Index rose 0.06%. Among the sector indices, the Nanhua Energy and Chemical Index had the largest increase of 0.52%, and the Nanhua Industrial Products Index had the smallest increase of 0.18%. The Nanhua Metal Index had the largest decline of -0.39%, and the Nanhua Precious Metal Index had the smallest decline of -0.07%. Among the theme indices, the Energy Index had the largest increase of 1.11%, and the Oilseeds Index had the smallest increase of 0.09%. The Building Materials Index had the largest decline of -0.37%, and the Black Raw Materials Index had the smallest decline of -0.12%. Among the single - variety indices of commodity futures, the Fuel Oil Index had the largest increase of 1.74%, and the Plywood Index had the largest decline of -1.93% [1][3]. 3. Summary by Index Type 3.1 Comprehensive and Sector Indices | Index Name | Today's Close | Yesterday's Close | Points Change | Daily Change | Annualized Return Rate | Annualized Volatility | Sharpe Ratio | | --- | --- | --- | --- | --- | --- | --- | --- | | Composite Index NHCI | 2400.26 | 2398.92 | 1.33 | 0.06% | -12.75% | 14.01% | -0.91 | | Precious Metal Index NHPMI | 1238.66 | 1239.55 | -0.89 | -0.07% | 24.46% | 18.46% | 1.32 | | Industrial Products Index NHII | 3443.70 | 3437.64 | 6.06 | 0.18% | -19.41% | 15.77% | -1.23 | | Metal Index NHMI | 6036.80 | 6060.55 | -23.75 | -0.39% | -15.83% | 15.45% | -1.02 | | Energy and Chemical Index NHECI | 1598.39 | 1590.08 | 8.30 | 0.52% | -22.88% | 17.00% | -1.35 | | Non - ferrous Metal Index NHNF | 1633.92 | 1638.83 | -4.92 | -0.30% | -11.71% | 14.36% | -0.82 | | Black Index NHFI | 2303.82 | 2309.83 | -6.02 | -0.26% | -27.09% | 21.50% | -1.26 | | Agricultural Products Index NHAI | 1063.47 | 1060.97 | 2.50 | 0.24% | -3.27% | 9.99% | -0.33 | | Mini Composite Index NHCIMi | 1106.93 | 1104.77 | 2.16 | 0.20% | -1.87% | 13.26% | -0.14 | | Energy Index NHEI | 1003.48 | 992.49 | 10.99 | 1.11% | -5.49% | 30.62% | -0.18 | | Petrochemical Index NHPCI | 930.36 | 927.57 | 2.79 | 0.30% | -2.81% | 20.20% | -0.14 | | Coal - based Chemical Index NHCCI | 1011.08 | 1009.75 | 1.33 | 0.13% | -3.88% | 18.24% | -0.21 | | Black Raw Materials Index NHFM | 919.14 | 920.24 | -1.10 | -0.12% | -5.79% | 21.20% | -0.27 | | Building Materials Index NHBMI | 713.42 | 716.04 | -2.63 | -0.37% | -5.49% | 15.66% | -0.35 | | Oilseeds Index NHOOl | 1190.91 | 1189.88 | 1.02 | 0.09% | -0.40% | 12.02% | -0.03 | | Economic Crops Index NHAECI | 874.82 | 873.31 | 1.51 | 0.17% | -0.86% | 9.54% | -0.09% | [3] 3.2 Single - Variety Indices - The single - variety index with the largest increase was the Fuel Oil Index, rising 1.74%, and the single - variety index with the largest decline was the Plywood Index, falling -1.93% [3][4]. 3.3 Other Information - Some single - variety indices also showed changes in their positions. For example, the position change ratios of some products such as soda ash, eggs, and iron ore are provided, but the data presentation is incomplete [4]. - There are also some industry chain diagrams for parts of the energy - chemical and black sectors, showing the daily changes in the single - variety indices of related products [4][5].

Report Information - Report Title: Nanhua Commodity Index Daily Report [2] - Report Date: June 4, 2025 [2] - Stock Code: 603093 [2] Market Data Summary Index Performance - **Composite Index**: The Nanhua Composite Index (NHCI) closed at 2382.69, up 0.89% (20.93 points) from the previous close of 2361.76, with an annualized return of -14.10% and an annualized volatility of 14.05% [3]. - **Sector Indices**: The Nanhua Black Index (NHFI) had the largest increase among sector indices, rising 2.11% (47.81 points) to 2318.50. The Nanhua Non - Ferrous Metal Index (NHNF) had the smallest increase, up 1.30% (21.09 points) to 1646.41. The Nanhua Agricultural Product Index (NHAI) had the largest decline, down - 0.23% (-2.43 points) to 1053.62, and the Nanhua Precious Metal Index (NHPMI) had the smallest decline, down - 0.02% (-0.23 points) to 1221.32 [1][3]. - **Theme Indices**: Among theme indices, only the Nanhua Oilseeds and Oils Index (NHOOl) declined, down - 0.51% (-5.99 points) to 1172.97. The Nanhua Black Raw Material Index (NHFM) had the largest increase, rising 2.58% (23.28 points) to 926.60, and the Nanhua Economic Crop Index (NHAECI) had the smallest increase, up 0.56% (4.86 points) to 876.89 [1][3]. - **Single - Variety Indices**: Among commodity futures single - variety indices, the coking coal index had the largest increase, rising 6.82%, and the plywood index had the largest decline, down - 5.16% [3]. Contribution and Volatility - **Contribution of Single Varieties**: Some single - variety indices showed different contributions to the overall index. For example, in terms of contribution, positive - contributing varieties included rebar with a contribution of 25.57%, soda ash with 20.23%, and iron ore with 16.58% and 19.23% respectively [4]. - **Volatility**: The annualized volatility and Sharpe ratio of different indices varied. For instance, the Nanhua Precious Metal Index (NHPMI) had an annualized return of 20.19%, an annualized volatility of 18.72%, and a Sharpe ratio of 1.08, while the Nanhua Energy and Chemical Index (NHECI) had an annualized return of - 23.12%, an annualized volatility of 16.98%, and a Sharpe ratio of - 1.36 [3].