Core Insights - The leverage funds have purchased over 200 billion in A-shares, with the financing balance exceeding 1.9 trillion for nine consecutive trading days in July [1] Financing Activity - As of July 31, the financing balance of A-shares stood at 1.97 trillion [1] - In July, there were two trading days where the single-day financing purchase amount surpassed 200 billion, with the highest being 204.7 billion [1] - The financing repayment amount also reached a high of 204.3 billion, ranking as the third highest this year [1] - The net financing purchase amount for the day was 400 million [1] Market Indicators - The financing purchase amount accounted for 10.43% of the total A-share trading volume on the previous day [1] - The percentage of financing purchase relative to trading volume has exceeded 10% for nine consecutive trading days in July, indicating sustained activity of leverage funds [1]