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, the Nanhua Composite Index fell by -1.25% today. Among the sector indices, the Nanhua Black Index had the largest increase of 0.7%, and the Nanhua Non - ferrous Metals Index had the smallest increase of 0.33%. The Nanhua Precious Metals Index had the largest decline of -2.11%, and the Nanhua Agricultural Products Index had the smallest decline of -0.15%. Among the theme indices, the Black Raw Materials Index had the largest increase of 1.27%, and the Economic Crops Index had the smallest increase of 0.58%. The Energy Index had the largest decline of -2.99%, and the Oilseeds and Oils Index had the smallest decline of -0.25%. Among the single - product indices of commodity futures, LPG had the largest increase of 5.73%, and Coke had the largest decline of -9.37% [1][4]. 3. Summary by Relevant Catalogs 3.1 Nanhua Composite Index and Sector Index - The Nanhua Composite Index closed at 3080.83 today, down 38.92 points or -1.25% from yesterday. Its annualized return rate is 22.34%, annualized volatility is 15.11%, and the Sharpe ratio is 1.48 [3]. - The Nanhua Precious Metals Index closed at 1972.03, down 42.46 points or -2.11% from yesterday, with an annualized volatility of 32.96% and a Sharpe ratio of 2.38 [3]. - The Nanhua Index (not clearly named in the text) closed at 4220.17, down 44.32 points or -1.04% from yesterday, with an annualized volatility of 16.57% and a Sharpe ratio of 0.81 [3]. 3.2 Single - Product Index of Commodity Futures - In the black sector, some varieties' single - product index daily changes are presented, but specific data is not detailed in a clear way [5]. - In the agricultural products sector, the daily changes of single - product indices of some varieties are as follows: rapeseed oil 0.22%, rapeseed -0.56%, rapeseed meal -0.82%, pig -1.11%, corn 0.13%, and starch 2.91% [8]. - In the energy and chemical sector, the daily changes of single - product indices of some varieties are as follows: LPG 5.73%, synthetic resin 1.23%, polyethylene -1.57%, naphtha 1.07%, PTA -1.03%, crude oil -5.07%, and fuel oil -1.03% [11].