Group 1: ETF Performance - The Rare Metals ETF has a turnover rate of 5.68% with a transaction volume of 91.93 million yuan, ranking first among comparable funds [3] - As of August 21, the Rare Metals ETF reached a new high in size at 1.587 billion yuan, also ranking first among comparable funds [3] - The latest share count for the Rare Metals ETF is 2.279 billion shares, marking a one-year high and ranking first among comparable funds [3] - The ETF experienced a net inflow of 13.6015 million yuan, with four out of the last five trading days showing net inflows totaling 96.658 million yuan [3] - Over the past year, the net value of the Rare Metals ETF has increased by 72.66%, placing it in the top 13.65% among 2,968 index equity funds [3] - The ETF's highest monthly return since inception is 24.02%, with the longest consecutive monthly gains being three months and a maximum increase of 29.68% [3] - The average return during rising months is 8.13%, and the ETF has outperformed its benchmark with an annualized return of 10.60% over the last three months [3] Group 2: Industry Insights - As of July 31, 2025, the top ten weighted stocks in the CSI Rare Metals Theme Index account for 55.85% of the index, including Northern Rare Earth, Salt Lake Co., and others [4] - The Democratic Republic of the Congo's recent suspension of cobalt product exports has led to a significant expectation of supply contraction in the global cobalt industry [4] - If the Congolese government implements export quota policies, cobalt supply could be reduced by 30% in 2026 and 2027, potentially leading to a sustained shortage and a price center above 350,000 yuan per ton [4] - In the short term, the domestic cobalt supply chain may continue to deplete before the export ban is lifted, with cobalt prices likely remaining strong until the end of the year [4] - The upward price cycle for cobalt is expected to continue until 2027 [4]