Group 1 - The core viewpoint of the report indicates that the defense and military industry sector performed well during the period, with QDII funds showing relatively leading average returns [1][6] - The Shanghai Composite Index rose by 2.11% and the Shenzhen Component Index increased by 1.25% during the reporting period [1] - Various types of funds experienced gains, with actively managed stock funds increasing by 1.31%, mixed funds by 1.47%, and bond funds by 0.14% [1] Group 2 - The defense and military sector, along with non-ferrous metals, showed strong performance among the Shenwan first-level industry indices [6] - Over the last 12 periods, the comprehensive and defense military indices have demonstrated favorable performance [6] Group 3 - In the bond market, the convertible bond index rose by 2.31%, leading to an average return of 2.59% for convertible bond funds during the reporting period [12] - The average return for convertible bond funds this year stands at 13.96%, indicating strong performance compared to other bond categories [12] Group 4 - Among QDII funds, the Greater China equity funds led with a return of 2.43% during the reporting period, while the year-to-date return is 34.21% [14][16] - The report highlights that various QDII fund categories experienced different levels of performance, with global equity funds returning 2.33% and emerging market equity funds returning 2.21% [14][16]

Investment Rating - The report indicates a collective positive performance in the market, with major indices showing significant gains, suggesting a favorable investment environment [1][3]. Core Insights - The three major indices experienced substantial increases, with the Shanghai Composite Index rising by 1.02% to close at 3380.21 points, the Shenzhen Component Index up by 0.93% to 10955.65 points, and the ChiNext Index increasing by 1.23% to 2268.22 points [1][5]. - The total trading volume across the two markets exceeded 1.9 trillion yuan, indicating a recovery in market activity [1][3]. - All first-level industries in the Shenwan index saw gains, with steel, real estate, and non-bank financials leading the charge [1][6]. Market Performance Summary - The number of stocks that rose was 4,247, while 1,053 stocks declined, reflecting a strong upward trend in the market [3]. - The proportion of stocks that increased was 77.18%, showcasing a robust market sentiment [3]. - The steel sector led with a gain of 5.10%, followed by real estate at 2.20% and non-bank financials at 2.19% [6][7].