Report Industry Investment Rating - Not provided in the document Core Viewpoints - Not provided in the document Summary by Relevant Catalogs Index Trends - On January 5th, the Shanghai Composite Index rose 1.38% to close at 4023.42 points with a trading volume of 1067.334 billion yuan; the Shenzhen Component Index rose 2.24% to close at 13828.63 points with a trading volume of 1478.937 billion yuan [1] - The CSI 1000 Index rose 2.09% with a trading volume of 542.231 billion yuan, opening at 7639.54, closing at 7753.88, with a daily high of 7753.96 and a low of 7623.75 [1] - The CSI 500 Index rose 2.49% with a trading volume of 504.69 billion yuan, opening at 7523.88, closing at 7651.2, with a daily high of 7651.24 and a low of 7523.25 [1] - The SSE 50 Index rose 2.26% with a trading volume of 169.562 billion yuan, opening at 3052.13, closing at 3099.75, with a daily high of 3105.4 and a low of 3052.13 [1] - The CSI 300 Index rose 1.9% with a trading volume of 630.577 billion yuan, opening at 4661.62, closing at 4717.75, with a daily high of 4721.64 and a low of 4661.62 [1] Impact of Sector Fluctuations on Index - The CSI 1000 rose 158.6 points from the previous closing price, with sectors such as Medicine and Biology, Electronics, and Computer significantly pulling the index upwards [2] - The CSI 500 rose 185.63 points from the previous closing price, with sectors such as Electronics and Medicine and Biology significantly pulling the index upwards [2] - The CSI 300 rose 87.81 points from the previous closing price, with sectors such as Electronics, Non - Banking Finance, and Power Equipment significantly pulling the index upwards [2] - The SSE 50 rose 68.62 points from the previous closing price, with sectors such as Non - Banking Finance, Electronics, and Food and Beverage significantly pulling the index upwards [2] Stock Index Futures Basis and Annualized Opening Costs Converted from Basis - IM00 average daily basis was - 1.83, IM01 was - 71.31, IM02 was - 129.65, and IM03 was - 365.56 [13] - IC00 average daily basis was 3.91, IC01 was - 40.19, IC02 was - 71.53, and IC03 was - 257.64 [13] - IF00 average daily basis was - 1.41, IF01 was - 14.05, IF02 was - 21.11, and IF03 was - 68.62 [13] - IH00 average daily basis was - 0.73, IH01 was - 2.59, IH02 was - 0.68, and IH03 was - 10.96 [13] Stock Index Futures Roll - over Point Differences and Their Annualized Costs Converted - For IM, data on roll - over point differences and their annualized costs at different times (e.g., 09:45, 10:00, etc.) are provided [22][27] - For IC, data on roll - over point differences and their annualized costs at different times (e.g., 09:45, 10:00, etc.) are provided [24] - For IF, data on roll - over point differences and their annualized costs at different times (e.g., 09:45, 10:00, etc.) are provided [25] - For IH, data on roll - over point differences and their annualized costs at different times (e.g., 09:45, 10:00, etc.) are provided [26]

1. Report's Industry Investment Rating - No relevant information provided in the content 2. Core Viewpoints of the Report - No clear core viewpoints presented in the content 3. Summary by Relevant Catalogs Index Trends - On December 4th, the Shanghai Composite Index had a change of -0.06%, closing at 3875.79 points with a trading volume of 623.713 billion yuan; the Shenzhen Component Index had a change of 0.4%, closing at 13006.72 points with a trading volume of 925.247 billion yuan [1]. - The CSI 1000 Index had a change of 0.01% with a trading volume of 311.316 billion yuan, opening at 7246.86, closing at 7248.66, with a daily high of 7269.9 and a low of 7185.91 [1]. - The CSI 500 Index had a change of 0.24% with a trading volume of 239.913 billion yuan, opening at 7001.64, closing at 7012.81, with a daily high of 7039.72 and a low of 6958.63 [1]. - The SSE 50 Index had a change of 0.38% with a trading volume of 88.622 billion yuan, opening at 2968.56, closing at 2974.34, with a daily high of 2980.24 and a low of 2958.61 [1]. Impact of Sector Movements on Indexes - The CSI 1000 rose 0.39 points from the previous closing price. Sectors such as Electronics, Machinery, and Automobiles significantly pulled the index up, while Media, Basic Chemicals, and Non - Ferrous Metals pulled it down [3]. - The CSI 500 rose 16.45 points from the previous closing price. Sectors like Electronics, National Defense and Military Industry, and Machinery significantly pulled the index up, while Non - Ferrous Metals pulled it down [3]. - The SSE 300 rose 15.52 points from the previous closing price. Sectors including Electronics, Power Equipment, and Communication significantly pulled the index up, while Banking and Food and Beverage pulled it down [3]. - The SSE 50 rose 11.26 points from the previous closing price. Sectors such as Electronics, Non - Ferrous Metals, and Pharmaceutical Biology significantly pulled the index up, while Banking and Food and Beverage pulled it down [3]. Stock Index Futures Basis and Annualized Opening Costs Converted from Basis - IM00 had an average daily basis of -48.93, IM01 of -122.48, IM02 of -274.44, and IM03 of -512.61 [12]. - IC00 had an average daily basis of -40.9, IC01 of -95.77, IC02 of -210.83, and IC03 of -419.05 [12]. - IF00 had an average daily basis of -13.65, IF01 of -30.25, IF02 of -50.75, and IF03 of -99.82 [12]. - IH00 had an average daily basis of -4.94, IH01 of -11.59, IH02 of -13.58, and IH03 of -27.91 [12]. Stock Index Futures Roll - over Point Differences and Their Converted Annualized Costs - For IM, data on roll - over point differences and their converted annualized costs at different 15 - minute intervals are provided, such as at 09:45, IM00 - 01 was -73.02267, IM00 - 02 was -259.4522 etc. [21]. - For IC, similar data is given, e.g., at 09:45, IC00 - 01 was -68.64222, IC00 - 02 was -225.568 etc. [23]. - For IF, at 09:45, IF00 - 01 was -12.31678, IF00 - 02 was -41.14122 etc. [23]. - For IH, at 09:45, IH00 - 01 was 0.707, IH00 - 02 was 1.4593333 etc. [25].

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - The report presents the daily data tracking of stock index futures on December 4, 2025, including the index trends of major stock indices, the impact of sector fluctuations on the indices, the basis and annualized opening costs of stock index futures, and the point differences and annualized costs of futures contract roll - overs [1] 3. Summary by Directory 3.1 Index Trends - On December 3, 2025, the Shanghai Composite Index fell 0.51% to close at 3878.0 points with a trading volume of 647.167 billion yuan; the Shenzhen Component Index fell 0.78% to close at 12955.25 points with a trading volume of 1022.796 billion yuan [1] - The CSI 1000 Index fell 0.89% with a trading volume of 335.034 billion yuan, opening at 7312.67, closing at 7248.27, with a daily high of 7324.21 and a low of 7220.98 [1] - The CSI 500 Index fell 0.62% with a trading volume of 251.309 billion yuan, opening at 7044.86, closing at 6996.36, with a daily high of 7064.16 and a low of 6975.09 [1] - The SSE 50 Index fell 0.52% with a trading volume of 85.495 billion yuan, opening at 2976.11, closing at 2963.08, with a daily high of 2983.61 and a low of 2957.79 [1] - The SSE 300 Index fell 0.51% with a trading volume of 374.486 billion yuan, opening at 4554.59, closing at 4531.05, with a daily high of 4569.82 and a low of 4523.5 [1] 3.2 Impact of Sector Fluctuations on Indices - The CSI 1000 Index dropped 64.91 points from the previous closing price, with sectors such as Media, Electronics, and Computer significantly pulling the index down [2] - The CSI 500 Index dropped 43.94 points from the previous closing price, with sectors such as Machinery significantly pulling the index up, and sectors such as Power Equipment, Computer, and Electronics pulling the index down [2] - The SSE 300 Index dropped 23.28 points from the previous closing price, with sectors such as Non - Ferrous Metals significantly pulling the index up, and sectors such as Non - Banking Finance, Power Equipment, and Banking pulling the index down [2] - The SSE 50 Index dropped 15.39 points from the previous closing price, with sectors such as Non - Ferrous Metals significantly pulling the index up, and sectors such as Food and Beverage, Non - Banking Finance, and Banking pulling the index down [2] 3.3 Basis and Annualized Opening Costs of Stock Index Futures - For IM contracts, IM00 had an average daily basis of - 63.93, IM01 of - 136.48, IM02 of - 289.28, and IM03 of - 526.85 [13] - For IC contracts, IC00 had an average daily basis of - 55.35, IC01 of - 110.49, IC02 of - 225.35, and IC03 of - 432.23 [13] - For IF contracts, IF00 had an average daily basis of - 18.54, IF01 of - 34.56, IF02 of - 55.17, and IF03 of - 103.62 [13] - For IH contracts, IH00 had an average daily basis of - 7.43, IH01 of - 13.16, IH02 of - 14.61, and IH03 of - 28.05 [13] 3.4 Point Differences and Annualized Costs of Futures Contract Roll - overs - The report provides the point differences and annualized costs for different contract combinations (e.g., IM00 - 01, IM00 - 02) and their 15 - minute average values for IM, IC, IF, and IH contracts [22][24][25][27]

Report Summary 1. Index Trends - On November 27th, the Shanghai Composite Index rose by 0.29% to close at 3875.26 points, with a trading volume of 698.519 billion yuan. The Shenzhen Component Index fell by 0.25% to close at 12875.19 points, with a trading volume of 1011.275 billion yuan [1]. - The CSI 1000 Index rose by 0.12% with a trading volume of 365.626 billion yuan. The CSI 500 Index fell by 0.2% with a trading volume of 253.013 billion yuan. The SSE 50 Index rose by 0.02% with a trading volume of 105.106 billion yuan. The CSI 300 Index fell by 0.05% with a trading volume of 417.79 billion yuan [1]. 2. Impact of Sector Movements on Indexes - For the CSI 1000, sectors such as electronics, power equipment, and communication pulled the index up, while pharmaceutical biology, computer, and media sectors pulled it down [3]. - For the CSI 500, basic chemicals, power equipment, and non - ferrous metals sectors pulled the index up, while media, electronics, and computer sectors pulled it down [3]. - For the CSI 300, banks, basic chemicals, and public utilities sectors pulled the index up, while computer, pharmaceutical biology, and power equipment sectors pulled it down [3]. - For the SSE 50, banks, basic chemicals, and coal sectors pulled the index up, while communication, machinery, and pharmaceutical biology sectors pulled it down [3]. 3. Futures Basis and Annualized Opening Costs - The average daily basis for IM00 was -72.04, IM01 was -143.98, IM02 was -294.56, and IM03 was -530.53. For IC00, it was -47.73; IC01, -103.75; IC02, -213.96; IC03, -420.19. For IF00, it was -16.24; IF01, -31.18; IF02, -48.51; IF03, -95.63. For IH00, it was -4.95; IH01, -9.43; IH02, -10.66; IH03, -19.69 [13]. 4. Futures Roll - over Point Differences and Annualized Costs - Data on the roll - over point differences and their annualized costs for IM, IC, IF, and IH futures at different time intervals (15 - minute means) are provided, including specific point differences and cost calculations [23][25][26].

Report Summary 1. Report Industry Investment Rating No information provided in the report. 2. Core Viewpoints The report presents the daily data tracking of stock index futures on November 18, 2025, including the index trends, the impact of sector fluctuations on the indices, the basis and annualized opening costs of stock index futures, and the points differences in contract roll - overs and their annualized costs. 3. Summary by Sections Index Trends - On November 18, the Shanghai Composite Index fell 0.81% to close at 3939.81 points, with a trading volume of 790.949 billion yuan; the Shenzhen Component Index dropped 0.92% to 13080.49 points, with a trading volume of 1135.119 billion yuan [1]. - The CSI 1000 Index declined 1.0%, with a trading volume of 418.065 billion yuan; the CSI 500 Index decreased 1.17%, with a trading volume of 306.54 billion yuan; the SSE 50 Index dropped 0.3%, with a trading volume of 106.201 billion yuan; and the SSE 300 Index fell 0.65%, with a trading volume of 420.15 billion yuan [1]. Impact of Sector Fluctuations on Indices - The CSI 1000 Index dropped 74.98 points from the previous close, and sectors such as non - ferrous metals, basic chemicals, and power equipment significantly pulled the index down [3]. - The CSI 500 Index decreased 84.33 points from the previous close, and sectors like basic chemicals, non - ferrous metals, and power equipment had a significant downward pull on the index [3]. - The SSE 300 Index fell 29.86 points from the previous close, with the electronics sector pulling the index up and sectors such as non - ferrous metals and power equipment pulling it down [3]. - The SSE 50 Index dropped 9.05 points from the previous close, with the electronics and food and beverage sectors pulling the index up and sectors like non - bank finance, power equipment, and non - ferrous metals pulling it down [3]. Basis and Annualized Opening Costs of Stock Index Futures - For IM contracts, the average daily basis of IM00 was - 19.03, IM01 was - 118.81, IM02 was - 351.44, and IM03 was - 580.18 [14]. - For IC contracts, the average daily basis of IC00 was - 16.54, IC01 was - 92.61, IC02 was - 272.32, and IC03 was - 476.66 [14]. - For IF contracts, the average daily basis of IF00 was - 4.59, IF01 was - 21.49, IF02 was - 50.75, and IF03 was - 94.98 [14]. - For IH contracts, the average daily basis of IH00 was - 1.11, IH01 was - 6.98, IH02 was - 9.76, and IH03 was - 17.64 [14]. Points Differences in Contract Roll - Overs and Their Annualized Costs - Data on the points differences in contract roll - overs and their annualized costs for IM, IC, IF, and IH contracts are presented in the report, including the 15 - minute average points differences and the corresponding annualized costs at different time points [23][24][25].

1. Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. 2. Core Viewpoints of the Report The report presents the performance of major stock indices on November 12, including their price movements, trading volumes, and the impact of sector fluctuations on these indices. It also provides data on the basis and annualized opening costs of stock index futures, as well as the point differences in futures contract roll - overs and their corresponding annualized costs. 3. Summary by Relevant Catalogs Index Trends - On November 12, the Shanghai Composite Index dropped by 0.07% to close at 4000.14 points, with a trading volume of 840.467 billion yuan. The Shenzhen Component Index declined by 0.36% to 13240.62 points, and its trading volume was 1104.567 billion yuan [1]. - The CSI 1000 Index decreased by 0.72%, with a trading volume of 390.482 billion yuan. It opened at 7520.18, closed at 7486.38, reached a high of 7537.76, and a low of 7421.46 [1]. - The CSI 500 Index fell by 0.66%, with a trading volume of 313.84 billion yuan. It opened at 7264.79, closed at 7243.25, had a high of 7305.86, and a low of 7187.87 [1]. - The SSE 50 Index rose by 0.32%, with a trading volume of 136.89 billion yuan. It opened at 3035.03, closed at 3044.3, reached a high of 3059.95, and a low of 3035.03 [1]. - The CSI 300 Index decreased by 0.13%, with a trading volume of 492.309 billion yuan. It opened at 4643.56, closed at 4645.91, had a high of 4669.61, and a low of 4620.99 [1]. Impact of Sector Movements on Index - The CSI 1000 Index dropped 54.41 points from the previous close. The household appliances sector significantly boosted the index, while machinery, electronics, and power equipment sectors pulled it down [3]. - The CSI 500 Index fell 48.36 points from the previous close. The electronics and power equipment sectors had a significant negative impact on the index [3]. - The CSI 300 Index decreased 6.26 points from the previous close. The communication, banking, and household appliances sectors pushed the index up, while the automotive, computer, and power equipment sectors pulled it down [3]. - The SSE 50 Index rose 9.67 points from the previous close. The non - banking finance, banking, and electronics sectors boosted the index, while the power equipment sector had a negative impact [3]. Basis of Stock Index Futures and Annualized Opening Costs - For IM futures, the average daily basis for IM00 was - 39.27, IM01 was - 128.83, IM02 was - 350.34, and IM03 was - 571.66 [14]. - For IC futures, the average daily basis for IC00 was - 32.77, IC01 was - 101.56, IC02 was - 273.36, and IC03 was - 465.94 [14]. - For IF futures, the average daily basis for IF00 was - 8.79, IF01 was - 24.13, IF02 was - 51.93, and IF03 was - 94.33 [14]. - For IH futures, the average daily basis for IH00 was - 2.39, IH01 was - 6.02, IH02 was - 10.81, and IH03 was - 19.79 [14]. Point Differences in Futures Contract Roll - Overs and Annualized Costs - Data for IM futures contract roll - over point differences and annualized costs are presented at different time points from 09:45 to 15:00, along with the corresponding index values of 000852.SH [29]. - Data for IC futures contract roll - over point differences and annualized costs are shown at different time points from 09:45 to 15:00, along with the corresponding index values of 000905.SH [30]. - Data for IF futures contract roll - over point differences and annualized costs are provided at different time points from 09:45 to 15:00, along with the corresponding index values of 000300.SH [26]. - Data for IH futures contract roll - over point differences and annualized costs are given at different time points from 09:45 to 15:00, along with the corresponding index values of 000016.SH [28].

1. Index Trends - On November 10, the Shanghai Composite Index rose 0.53% to close at 4018.6 points, with a trading volume of 960.589 billion yuan; the Shenzhen Component Index rose 0.18% to close at 13427.61 points, with a trading volume of 1213.865 billion yuan [1]. - The CSI 1000 Index rose 0.28%, with a trading volume of 433.798 billion yuan. Its opening price was 7568.75, closing price was 7563.25, the highest price was 7592.76, and the lowest price was 7515.68 [1]. - The CSI 500 Index rose 0.22%, with a trading volume of 371.311 billion yuan. Its opening price was 7357.34, closing price was 7343.8, the highest price was 7384.79, and the lowest price was 7289.77 [1]. - The SSE 300 Index rose 0.35%, with a trading volume of 593.977 billion yuan. Its opening price was 4688.12, closing price was 4695.05, the highest price was 4695.18, and the lowest price was 4654.21 [1]. - The SSE 50 Index rose 0.51%, with a trading volume of 139.907 billion yuan. Its opening price was 3043.51, closing price was 3053.86, the highest price was 3054.55, and the lowest price was 3030.23 [1]. 2. Impact of Sector Movements on Indexes - The CSI 1000 rose 21.37 points from the previous closing price. Sectors such as household appliances, pharmaceuticals and biotech, and basic chemicals significantly pulled the index up, while sectors like machinery, automobiles, and power equipment pulled it down [2]. - The CSI 500 rose 15.89 points from the previous closing price. Sectors such as pharmaceuticals and biotech, non - bank finance, and non - ferrous metals significantly pulled the index up, while sectors like machinery, electronics, and power equipment pulled it down [2]. - The SSE 300 rose 16.26 points from the previous closing price. Sectors such as food and beverage, non - bank finance, and banks significantly pulled the index up, while sectors like machinery, power equipment, and electronics pulled it down [2]. - The SSE 50 rose 15.51 points from the previous closing price. Sectors such as food and beverage, non - bank finance, and banks significantly pulled the index up, while sectors like machinery and electronics pulled it down [2]. 3. Stock Index Futures Basis and Annualized Opening Costs - For IM contracts, IM00 had an average daily basis of - 57.03, IM01 had - 142.23, IM02 had - 361.89, and IM03 had - 580.67 [12]. - For IC contracts, IC00 had an average daily basis of - 43.2, IC01 had - 107.51, IC02 had - 277.1, and IC03 had - 467.73 [12]. - For IF contracts, IF00 had an average daily basis of - 9.52, IF01 had - 25.0, IF02 had - 54.69, and IF03 had - 98.5 [12]. - For IH contracts, IH00 had an average daily basis of - 0.02, IH01 had - 1.49, IH02 had - 5.36, and IH03 had - 11.46 [12]. 4. Stock Index Futures Roll - over Point Differences and Annualized Costs - Data on IM, IC, IF, and IH roll - over point differences and their annualized costs are presented in the report, including detailed values at different time points [20][21][22]

Group 1: Index Trends - On October 15th, the Shanghai Composite Index rose 1.22% to close at 3912.21 points, with a trading volume of 961.552 billion yuan; the Shenzhen Component Index rose 1.73% to close at 13118.75 points, with a trading volume of 1111.306 billion yuan [1]. - The CSI 1000 Index rose 1.5% with a trading volume of 403.798 billion yuan, opening at 7384.01, closing at 7483.45, with a daily high of 7484.05 and a low of 7315.48 [1]. - The CSI 500 Index rose 1.38% with a trading volume of 397.459 billion yuan, opening at 7205.74, closing at 7294.0, with a daily high of 7294.0 and a low of 7153.42 [1]. - The SSE 50 Index rose 1.36% with a trading volume of 157.106 billion yuan, opening at 2962.75, closing at 3001.35, with a daily high of 3003.0 and a low of 2958.45 [1]. - The SSE 300 Index rose 1.48% with a trading volume of 607.326 billion yuan, opening at 4544.24, closing at 4606.29, with a daily high of 4608.82 and a low of 4526.83 [1]. Group 2: Impact of Sector Movements on Indexes - The CSI 1000 rose 110.3 points from the previous close, with sectors such as electronics, power equipment, and pharmaceutical biology significantly pulling up the index [3]. - The CSI 500 rose 99.15 points from the previous close, with electronics, power equipment, and pharmaceutical biology sectors significantly pulling up the index [3]. - The SSE 300 rose 67.23 points from the previous close, with electronics, power equipment, and non - bank finance sectors significantly pulling up the index [3]. - The SSE 50 rose 40.25 points from the previous close, with non - bank finance, non - ferrous metals, and electronics sectors significantly pulling up the index [3]. Group 3: Stock Index Futures Basis and Annualized Opening Costs - IM00 average daily basis was - 10.46, IM01 was - 103.63, IM02 was - 188.68, IM03 was - 409.38 [12]. - IC00 average daily basis was - 8.59, IC01 was - 90.05, IC02 was - 145.37, IC03 was - 306.52 [12]. - IF00 average daily basis was - 1.45, IF01 was - 15.46, IF02 was - 25.74, IF03 was - 47.9 [12]. - IH00 average daily basis was 0.53, IH01 was - 2.86, IH02 was - 2.45, IH03 was - 1.31 [12]. Group 4: Stock Index Futures Roll - over Point Differences and Annualized Costs - For IM, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IM00 - 01 was - 73.02267, IM00 - 02 was - 259.4522, etc. [28]. - For IC, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IC00 - 01 was - 68.64222, IC00 - 02 was - 225.568, etc. [29]. - For IF, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IF00 - 01 was - 12.31678, IF00 - 02 was - 41.14122, etc. [24]. - For IH, data on roll - over point differences and their annualized costs at different time points from 09:45 to 15:00 are provided, such as at 09:45, IH00 - 01 was 0.707, IH00 - 02 was 1.4593333, etc. [25].

1. Report Industry Investment Rating - No relevant information provided 2. Core Views of the Report - The report presents the index trends, the impact of sector fluctuations on indices, the basis and annualized opening costs of stock index futures, and the point differences and annualized costs of stock index futures roll - over on September 3rd [1][2][12][19] 3. Summary by Relevant Catalogs 3.1 Index Trends - On September 3rd, the Shanghai Composite Index fell 1.16% to 3813.56 points with a trading volume of 1012.296 billion yuan; the Shenzhen Component Index fell 0.65% to 12472.0 points with a trading volume of 1351.79 billion yuan [1] - The CSI 1000 Index fell 1.46% with a trading volume of 486.667 billion yuan; the CSI 500 Index fell 1.34% with a trading volume of 449.58 billion yuan; the SSE 50 Index fell 1.07% with a trading volume of 161.065 billion yuan; the CSI 300 Index fell 0.68% with a trading volume of 655.697 billion yuan [1] 3.2 Impact of Sector Fluctuations on Indices - The CSI 1000 dropped 107.0 points compared to the previous closing price, and sectors such as non - ferrous metals, national defense and military industry, and computer significantly pulled the index down [2] - The CSI 500 dropped 93.23 points compared to the previous closing price, and sectors such as computer, non - bank finance, and national defense and military industry significantly pulled the index down [2] - The CSI 300 dropped 30.62 points compared to the previous closing price. Sectors such as power equipment and communication significantly pulled the index up, while sectors such as banks, electronics, and non - bank finance significantly pulled the index down [2] - The SSE 50 dropped 31.89 points compared to the previous closing price. Sectors such as pharmaceutical biology significantly pulled the index up, while sectors such as banks, electronics, and non - bank finance significantly pulled the index down [2] 3.3 Stock Index Futures Basis and Annualized Opening Costs - For IM contracts, IM00 had an average daily basis of - 72.73, IM01 had - 133.83, IM02 had - 271.16, and IM03 had - 448.11 [12] - For IC contracts, IC00 had an average daily basis of - 79.74, IC01 had - 130.22, IC02 had - 237.48, and IC03 had - 382.87 [12] - For IF contracts, IF00 had an average daily basis of - 16.61, IF01 had - 23.0, IF02 had - 42.88, and IF03 had - 63.45 [12] - For IH contracts, IH00 had an average daily basis of - 4.99, IH01 had - 5.58, IH02 had - 6.58, and IH03 had - 4.13 [12] 3.4 Stock Index Futures Roll - over Point Differences and Annualized Costs - The report provides the point differences and annualized costs of roll - over for IM, IC, IF, and IH contracts at different time points, such as for the IF contract, at 09:45, the point differences between different contracts (e.g., IF00 - 01 was - 12.31678) are presented [20][21][23][24][25]

1. Report Industry Investment Rating There is no information about the report industry investment rating in the content. 2. Core Viewpoints of the Report The report provides a daily tracking of stock index futures data on September 2, 2025, including the index trends, the impact of sector fluctuations on the indices, the basis and annualized opening costs of stock index futures, and the points differences and annualized costs of stock index futures roll - over [1]. 3. Summary by Relevant Catalogs 3.1 Index Trends - On September 2, the Shanghai Composite Index fell 0.45% to close at 3858.13 points, with a trading volume of 1222.778 billion yuan; the Shenzhen Component Index fell 2.14% to close at 12553.84 points, with a trading volume of 1652.214 billion yuan [1]. - The CSI 1000 Index fell 2.5% with a trading volume of 598.514 billion yuan, opening at 7498.44, closing at 7313.88, with a daily high of 7499.6 and a low of 7258.59 [1]. - The CSI 500 Index fell 2.09% with a trading volume of 541.494 billion yuan, opening at 7108.94, closing at 6961.69, with a daily high of 7108.94 and a low of 6909.72 [1]. - The SSE 50 Index rose 0.39% with a trading volume of 196.061 billion yuan, opening at 2983.72, closing at 2992.88, with a daily high of 3006.46 and a low of 2967.52 [1]. - The SSE 50 Index rose 0.39% with a trading volume of 196.061 billion yuan, opening at 2983.72, closing at 2992.88, with a daily high of 3006.46 and a low of 2967.52 [1]. 3.2 Impact of Sector Fluctuations on the Indices - The CSI 1000 Index dropped 187.27 points from the previous closing price, and sectors such as communication, computer, and electronics significantly pulled the index down [3]. - The CSI 500 Index dropped 148.6 points from the previous closing price, and sectors such as computer and electronics significantly pulled the index down [3]. - The SSE 300 Index dropped 33.26 points from the previous closing price. Sectors such as banks significantly pulled the index up, while sectors such as computer, communication, and electronics pulled it down [3]. - The SSE 50 Index rose 11.68 points from the previous closing price. Sectors such as banks, food and beverage, and petroleum and petrochemicals significantly pulled the index up, while sectors such as non - bank finance and electronics pulled it down [3]. 3.3 Basis and Annualized Opening Costs of Stock Index Futures - For IM contracts, IM00 had an average daily basis of - 79.56, IM01 had - 138.59, IM02 had - 271.34, and IM03 had - 446.93 [14]. - For IC contracts, IC00 had an average daily basis of - 74.3, IC01 had - 122.99, IC02 had - 224.75, and IC03 had - 369.83 [14]. - For IF contracts, IF00 had an average daily basis of - 10.05, IF01 had - 15.77, IF02 had - 30.9, and IF03 had - 51.13 [14]. - For IH contracts, IH00 had an average daily basis of - 0.65, IH01 had - 2.19, IH02 had - 1.79, and IH03 had - 0.25 [14]. 3.4 Points Differences and Annualized Costs of Stock Index Futures Roll - over - The document provides the 15 - minute average points differences and their annualized costs for IM, IC, IF, and IH contracts' roll - over, including data such as IM00 - 01, IM00 - 02, etc. for different time points from 09:45 to 15:00 [23][25][27][26].