Core Viewpoint - The Invesco Great Wall CSI National New Hong Kong Stock Connect Central Enterprise Dividend ETF (520990) has shown positive performance with a closing increase of 0.79% and a trading volume of 1.44 billion yuan on October 15, 2024 [1] Fund Overview - The fund was established on June 26, 2024, with an annual management fee of 0.50% and a custody fee of 0.10% [1] - As of October 14, 2024, the fund's total shares stood at 4.590 billion, with a total size of 4.591 billion yuan, reflecting a year-to-date increase of 22.53% in shares and 31.12% in size compared to December 31, 2024 [1] Liquidity Analysis - Over the last 20 trading days, the cumulative trading amount reached 2.616 billion yuan, with an average daily trading amount of 131 million yuan [1] - Year-to-date, the cumulative trading amount for 188 trading days is 23.616 billion yuan, with an average daily trading amount of 126 million yuan [1] Fund Management - The current fund managers are Gong Lili and Wang Yang, with returns of 16.19% and 2.79% respectively during their management periods [2] Top Holdings - Major holdings include China Mobile (10.83%), China Petroleum (10.55%), COSCO Shipping Holdings (9.66%), and China National Offshore Oil Corporation (9.03%) among others, with their respective market values and share counts detailed [3]

Summary of Key Points Core Viewpoint - The stock of Xingtong Co., Ltd. experienced a decline of 0.81% on October 15, closing at 14.75 yuan, with significant block trades occurring during the day [1]. Trading Activity - A total of 6 block trades were executed, with a cumulative trading volume of 1.178 million shares and a total transaction value of 16.009 million yuan [1]. - The first four trades were all executed at a price of 13.59 yuan, with varying volumes and transaction values, all showing a discount of -7.86% [1]. - The fifth and sixth trades also occurred at the same price of 13.59 yuan, with total volumes of 15,000 and 19,000 shares respectively, maintaining the same discount rate [2]. Recent Performance - Over the past three months, Xingtong Co., Ltd. has recorded a total of 20 block trades, amounting to a cumulative transaction value of 139 million yuan [2]. - In the last five trading days, the stock has seen a slight increase of 0.55%, with a net inflow of 157,100 yuan from major funds [2].

大宗商品研究所 航运研发报告 航运日报 2025 年 10 月 15 日 航运日报 研究员：贾瑞林 第一部分 集装箱航运——集运指数（欧线） | 银河期货集运指数(欧线)日报 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 期货盘面 | | | | | | | | | 期货合约 | 收盘价 | 涨跌 | 涨跌幅 | 成交量(手) | 増减幅 | 持仓量(手) | 増减幅 | | EC2510 | 1.120.6 | -15.6 | -1.37% | 3.412.0 | -30.32% | 11,335.0 | -13.84% | | EC2512 | 1,708.6 | 34.5 | 2.06% | 42.616.0 | -8.76% | 27,023.0 | -0.62% | | EC2602 | 1.463.4 | -1.0 | -0.07% | 8,209.0 | -20.29% | 9.822.0 | 1.15% | | EC2604 | 1,142.0 | -8.0 | -0.70% | 4,498.0 | -3 ...

Report Summary 1) Report Industry Investment Rating - Not provided 2) Core Viewpoints - Recently, multiple bullish and bearish factors are intertwined. Trade war escalation restricts transport demand, the "peace plan" in the Middle East improves the expectation of Red Sea re - navigation, and the supply - demand imbalance persists. Futures prices are expected to fluctuate widely, and the "off - peak season" in shipping may continue. The freight rate market is highly influenced by news, and futures prices are likely to experience intensified fluctuations. Investors are advised to be cautious, pay attention to operation rhythm and risk control, and track geopolitical, shipping capacity, and cargo volume data in a timely manner [1] 3) Summary by Relevant Catalogs a) Futures Market Data - EC主力收盘价 is 1708.600, up 69.6; EC次主力收盘价 is 1463.4, up 46.8 [1] - EC2512 - EC2602价差 is 245.20, up 35.50; EC2512 - EC2604价差 is 566.60, up 42.50 [1] - EC合约基差 is - 676.80, down 34.50 [1] - EC主力持仓量 is 27023, down 168 [1] b) Spot Market Data - SCFIS (European Line) (weekly) is 1031.80, up 14.70; SCFIS (US West Coast Line) (weekly) is 862.48, down 14.34 [1] - SCFI (Comprehensive Index) (weekly) is 1114.52, down 45.90; Container ship capacity is 1,227.97 (ten thousand TEUs), up 0.04 [1] - CCFI (Comprehensive Index) (weekly) is 1087.41, up 72.63; CCFI (European Line) (weekly) is 1,401.91, up 114.76 [1] - Baltic Dry Index (daily) is 2022.00, up 122.00; Panamax Freight Index (daily) is 1,815.00, down 9.00 [1] - Average charter price of Panamax ships is 14769.00, down 845.00; Average charter price of Capesize ships is 23,277.00, up 23277.00 [1] c) Industry News - The US implements final measures of the 301 investigation on China's maritime, logistics, and shipbuilding sectors. South Korea's Hanwha Ocean's US - related subsidiaries assist. China counter - measures against 5 US - related subsidiaries of Hanwha Ocean, banning domestic organizations and individuals from trading and cooperating with them. The Ministry of Commerce urges the US to correct wrong practices [1] - Premier Li Qiang chairs an economic symposium, emphasizing accurately grasping the current economic situation from a broader perspective and strengthening confidence [1] - The IMF predicts the world economy to grow 3.2% in 2025 (up 0.2 percentage points from July's forecast) and 3.1% in 2026. It slightly raises the US economic growth forecast and keeps China's 2025 growth forecast at 4.8% [1] d) Market Analysis - On Wednesday, most futures prices of the container shipping index (European Line) rose. The main contract EC2512 rose 4.25%, and far - month contracts rose between 1 - 4%. The latest SCFIS European Line settlement freight rate index is 1031.80, down 14.7 points (1.4% MoM) from last week, with a narrowing decline [1] - The strike at Rotterdam Port has escalated, causing port operations to halt. Over 60 ships are waiting at sea, increasing regional supply - chain uncertainty. CMA CGM announces a price increase in November, boosting futures prices. Trump's statement about increasing tariffs on Asian imports may weaken freight rates in the long - term. The "peace plan" in the Middle East improves Red Sea re - navigation expectations, weakening price support. Eurozone economic data is volatile, with manufacturing PMI in September slightly worse than last month but service PMI exceeding expectations. China's improved export data in September benefits container shipping [1] e) Key Data to Watch - UK's 3 - month GDP monthly rate for August at 14:00 on 10 - 16; UK's manufacturing output monthly rate for August at 14:00 on 10 - 16 [1] - US retail sales monthly rate for September at 20:30 on 10 - 16; US PPI annual rate for September at 20:30 on 10 - 16 [1] - US business inventory monthly rate for August at 22:00 on 10 - 16 [1]

【东盟专线】海南自贸港封关在即 官员称将深化同东盟经贸合作 中新社海口10月15日电 (记者 王子谦)海南省商务厅副厅长余翔15日表示，当前，海南自贸港封关在 即，正努力打造中国对外开放的重要门户，"相信这将进一步推动海南同越南等东盟国家在经贸领域深 化合作、实现共赢，并为越南等东盟国家企业带来新的发展机遇"。 在当天举办的中外记者见面会上，海南自贸港与东盟国家的经贸合作受到媒体关切。回答越南记者提问 时，余翔说，海南自古就是海上丝绸之路的重要枢纽，如今正利用自贸港政策优势和独特区位优势，构 建"两个基地"(中国企业走向国际市场的总部基地和境外企业进入中国市场的总部基地)、"两个网络"(空 海国际交通网络和国际经贸合作网络)、"两个枢纽"(西部陆海新通道国际航运枢纽和面向太平洋、印度 洋的航空区域门户枢纽)，强化作为共建"一带一路"南向门户的枢纽功能。 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 其中，2024年，海南 ...

Core Points - The first batch of exhibits from Peru's Chancay Port has successfully arrived at Shanghai Yangshan Deep Water Port for the upcoming China International Import Expo (CIIE) [1][3] - The establishment of a direct shipping route between Chancay and Shanghai has facilitated the transportation of these exhibits, significantly reducing transit time [3][4] Group 1: Logistics and Transportation - The exhibits include local handicrafts such as ceramic products and alpaca wool items, many of which are making their debut at the expo [1] - The shipping process was organized by COSCO Shipping Group's Peruvian subsidiary, which implemented an "end-to-end" transportation plan, allowing the shipment to reach Shanghai in just 23 days, cutting the journey by at least 10 days [3] - Since the opening of Chancay Port, over 240 international vessels have been inspected by Shanghai border inspection authorities, indicating a growing trade relationship [4] Group 2: Trade and Economic Impact - The Chancay-Shanghai shipping route is a key project under the Belt and Road Initiative, enhancing trade connectivity between China and Peru [3] - Exports from China to South America, including home appliances, automobiles, and industrial goods, have been on the rise, contributing to regional economic growth [3] - Peruvian agricultural products such as blueberries, avocados, and avocados are increasingly entering the Chinese and Asian markets through Chancay Port [3] Group 3: Customs and Inspection Measures - Shanghai border inspection authorities have implemented a "green channel" for the customs clearance of CIIE exhibits, ensuring timely and safe entry [1][5] - Various convenience measures have been introduced, including a dedicated inspection channel and a hotline for CIIE-related inquiries, to streamline the process for vessels carrying expo exhibits [5]

Core Viewpoint - The shipping and port sector experienced a decline of 0.94% on October 15, with Nanjing Port leading the drop, while the overall Shanghai Composite Index rose by 1.22% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3912.21, up 1.22%, and the Shenzhen Component Index closed at 13118.75, up 1.73% [1] - Nanjing Port's stock price fell by 7.12% to 11.61, with a trading volume of 766,600 shares and a transaction value of 902 million [2] - The shipping and port sector saw a net outflow of 466 million from major funds, while retail investors contributed a net inflow of 368 million [2] Group 2: Individual Stock Performance - An Tong Holdings (600179) rose by 2.47% to 3.74, with a trading volume of 482,800 shares and a transaction value of 179 million [1] - Hainan Airlines Technology (600751) increased by 1.92% to 4.78, with a trading volume of 682,100 shares and a transaction value of 326 million [1] - Major stocks like Nanjing Port and Ningbo Shipping saw significant declines, with Nanjing Port down 7.12% and Ningbo Shipping down 6.86% [2] Group 3: Fund Flow Analysis - Major funds showed a net inflow in stocks like An Tong Holdings and Rizhao Port, while experiencing outflows in stocks like Jinjiang Shipping and China Merchants Port [3] - The net inflow from retail investors was significant, particularly in stocks like Liaoning Port, which saw a net inflow of 1.32 million [3] - The overall trend indicates a mixed sentiment in the shipping and port sector, with major funds pulling back while retail investors remain active [3]

中国经济网北京10月15日讯 海通发展(603162.SH)今日股价下跌4.14%，截至收盘报9.27元。目前该 股处于破发状态。 海通发展于2023年3月29日在上交所主板上市，发行数量为41,276,015股，发行价格为37.25元/股， 保荐机构（主承销商）为中信证券股份有限公司，保荐代表人为许阳、陈拓。 海通发展首次公开发行股票募集资金总额为153,753.16万元，募集资金净额为142,793.20万元。海通 发展于2023年2月23日披露的招股说明书显示，该公司拟募集资金142,793.20万元，计划用于超灵便型散 货船购置项目、信息化系统建设与升级项目、补充流动资金。 海通发展首次公开发行股票的发行费用总额（不含税）为10,959.96万元，其中，承销及保荐费用 8,656.42万元。 海通发展2024年3月22日披露关于2023年度利润分配及资本公积转增股本预案的公告。公司拟向全 体股东每股派发现金红利0.15元（含税）。截至2023年12月31日，公司总股本614,788,022股，以此计算 合计拟派发现金红利92,218,203.30元（含税）。本年度公司现金分红比例为49.84%。公司拟 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Amid escalating Sino - US game, the A - share market has shifted to a defensive stance. Short - term stock market is expected to fluctuate weakly, while in the long - term, it is still cost - effective to buy on dips. The bond market has risen in the risk - aversion mode [2][3]. - For precious metals, gold and silver showed mixed performance, and short - term volatility may intensify. The long - term view on precious metal prices remains positive, but caution is advised at present [4][5]. - Regarding copper, due to the intensifying Sino - US game, copper prices will continue to oscillate at a high level in the short term. Although Rio Tinto's production increased in Q3, the global mine supply remains tight, and the cost still supports copper prices in the medium term [6][7]. - For aluminum, with attention on trade policy trends, the aluminum market's fluctuations will expand. The fundamental support is good, and prices are expected to remain favorable but with large fluctuations [8][9]. - Alumina is dominated by bearish factors and should be treated as a short - position asset due to supply pressure from long - term contracts, production methods, and imports [10]. - Zinc prices will continue to be weak as both macro and fundamental supports decline marginally. Pay attention to LME inventory and structural changes [11]. - Lead prices will be adjusted as fundamental pressure increases marginally, with supply increasing and consumption remaining flat [12]. - Tin prices will have a short - term high - level adjustment, but the adjustment space is limited due to strong supply - side support. Focus on the support of the 10 - day moving average [14]. - Industrial silicon will have a weak oscillation due to insufficient demand resilience. The supply is relatively abundant, and the demand from different sectors is lackluster [15][16]. - Lithium carbonate prices will oscillate weakly. There is a possibility of further decline, and short - term attention should be paid to the support strength at previous lows [17]. - Nickel prices are at the lower end of the oscillation range and are expected to oscillate and rise. The macro environment is dovish, and although the market is cold, the spot resources are scarce [18][19]. - For soda ash and glass, due to poor post - holiday demand, prices will oscillate weakly [20]. - For steel products (螺卷), spot trading is stable, but futures prices are weak. The supply pressure is increasing, and prices are expected to oscillate weakly [21][22]. - Iron ore prices will oscillate and adjust. Port inventory has increased, and although demand is high, the upward space is limited [23]. - For soybean and rapeseed meal, due to abundant supply and weakening sentiment, prices will oscillate and decline in the short term. Pay attention to the support range below [24][25]. - Palm oil prices will have a wide - range oscillation. Oil prices are weak, and the market is waiting for production and demand data and the progress of Indonesia's biodiesel policy [26][27]. 3. Summaries According to Related Catalogs 3.1 Metal Main Variety Trading Data - The report provides the closing prices, price changes, price change percentages, total trading volumes, total open interests, and price units of various metal futures contracts on October 15, 2025, including SHFE copper, LME copper, SHFE aluminum, etc. [28] 3.2 Industry Data Perspective - For copper, on October 14, the SHFE copper main contract price decreased, and the LME copper price also declined. SHFE copper warehouse receipts remained unchanged, while LME inventory decreased. The spot price increased, and the LME copper premium decreased [29]. - For nickel, on October 14, the SHFE nickel main contract price decreased, and the LME nickel price also declined. SHFE nickel warehouse receipts decreased, and LME inventory increased [29]. - For zinc, on October 14, the SHFE zinc main contract price decreased, and the LME zinc price declined. SHFE zinc warehouse receipts decreased, and LME inventory increased [30]. - For lead, on October 14, the SHFE lead main contract price decreased, and the LME lead price declined. SHFE lead warehouse receipts remained unchanged, and LME inventory increased [30]. - For aluminum, on October 14, the SHFE aluminum continuous - third contract price decreased, and the LME aluminum price declined. SHFE aluminum warehouse receipts increased slightly, and LME inventory decreased [30]. - For alumina, on October 14, the SHFE alumina main contract price decreased, and the national alumina spot average price also declined. SHFE warehouse inventory increased significantly [30]. - For tin, on October 14, the SHFE tin main contract price decreased, and the LME tin price declined. SHFE tin warehouse receipts decreased, and LME inventory remained unchanged [31]. - For precious metals, on October 14, the prices of SHFE and COMEX gold and silver remained mostly unchanged, with some changes in inventory and the gold - silver ratio [31]. - For steel products, on October 14, the prices of rebar and hot - rolled coil futures decreased, and there were changes in spot prices, basis, and spreads [33]. - For iron ore, on October 14, the iron ore main contract price decreased, and there were changes in spot prices, basis, and freight rates [33]. - For coke and coking coal, on October 14, the coke main contract price increased, and the coking coal main contract price also increased. There were changes in spot prices, basis, and spreads [34]. - For lithium carbonate, on October 14, the lithium carbonate main contract price increased slightly, and there were changes in spot prices and spreads [34]. - For industrial silicon, on October 14, the industrial silicon main contract price decreased, and the average prices of different grades in the East China region remained mostly unchanged [34]. - For soybean and rapeseed meal, on October 14, the prices of CBOT soybean, soybean meal, and rapeseed meal futures decreased, and there were changes in import prices, spot prices, and spreads [35].

Report Industry Investment Rating - No information provided Core Viewpoints - Each shipping company has issued price adjustment notices, but there are no short - term conditions to support price increases. The futures market may fluctuate at a low level, and it is not recommended to increase positions. Instead, stop - loss should be set [2] - The tariff issue has a marginal effect, and the current core is the trend of spot freight rates. The main contract may be in the bottom - building process, and it is recommended to participate with a light position or just observe [5] - The main contract remains weak in the short term, while the far - month contracts are relatively strong, which is in line with the bottom - building judgment. Risk - takers are advised to take profits. Attention should be paid to the subsequent market trend, and it is not recommended to hold losing positions. Stop - loss should be set [6] - In the context of international situation turmoil, each contract still follows the seasonal logic with large fluctuations. It is recommended to wait and see or try with a light position for the arbitrage strategy [6] - For the long - term strategy, it is recommended to take profits when the contracts reach a high level, wait for the callback to stabilize, and then judge the subsequent direction [6] Summary by Related Catalogs Shipping Freight Index - On October 13, the Shanghai Export Container Settlement Freight Index (SCFIS) for the European route was 1031.8 points, down 1.4% from the previous period; the SCFIS for the US - West route was 862.48 points, down 1.6% from the previous period [3] - On October 10, the Ningbo Export Container Freight Index (NCFI) (composite index) was 818.97 points, up 11.50% from the previous period; the NCFI for the European route was 698.67 points, up 11.39% from the previous period; the NCFI for the US - West route was 844.43 points, down 0.34% from the previous period [3] - On October 10, the Shanghai Export Container Freight Index (SCFI) announced price was 1160.42 points, up 45.90 points from the previous period; the SCFI European route price was 1068 USD/TEU, up 9.9% from the previous period; the SCFI US - West route was 1468 USD/FEU, up 10.76% from the previous period [3] - On October 10, the China Export Container Freight Index (CCFI) (composite index) was 1014.78 points, down 6.7% from the previous period; the CCFI for the European route was 1287.15 points, down 8.2% from the previous period; the CCFI for the US - West route was 777.77 points, down 5.7% from the previous period [3] Economic Indicators - In the eurozone, the preliminary September manufacturing PMI was 49.5, back below the boom - bust line, lower than analysts' expectations and the previous value of 50.7. The preliminary services PMI rose from 50.5 to 51.4, exceeding the expected 50.5. The preliminary composite PMI was 51.2, exceeding analysts' expectations. The September Sentix investor confidence index was - 9.2, with an expected - 2 and a previous value of - 3.7 [3] - In August, China's manufacturing PMI was 49.4%, up 0.1 percentage point from the previous month; the composite PMI output index was 50.5%, up 0.3 percentage point from the previous month [4] - In the US, the preliminary September S&P Global manufacturing PMI was 52 (the final value in August was 53); the preliminary services PMI was 53.9 (the final value in August was 54.5); the preliminary composite PMI was 53.6 (the final value in August was 54.6) [4] Market Conditions - The Sino - US tariff extension negotiation has no substantial progress, and the tariff war has evolved into a trade negotiation issue between the US and other countries. The current spot price has slightly decreased [5] - On October 10, the main contract 2512 closed at 1570.0, down 3.04%, with a trading volume of 31,500 lots and an open interest of 28,100 lots, an increase of 3834 lots from the previous day [5] - The situation in the Middle East is improving, but although the SCFI index has rebounded, the overall atmosphere is still bearish and the market is under pressure to decline [5] Geopolitical Situation - On October 10, according to Israel Army Radio, the Israeli Defense Forces will soon withdraw to the "preliminary withdrawal line" area as planned by President Trump. However, according to some media reports, the Israeli military's attacks on multiple areas in Gaza are still ongoing [7] - On October 9, Hamas senior official and chief negotiator Khalil al - Hayya announced the achievement of a cease - fire agreement, but he did not mention issues such as Hamas disarmament and the transfer of Gaza's management rights in Trump's "20 - point plan" [7] Contract Rules Adjustment - The up - limit and down - limit for contracts 2508 - 2606 are adjusted to 18% [6]. - The company's margin for contracts 2508 - 2606 is adjusted to 28% [6]. - The daily opening position limit for all contracts 2508 - 2606 is 100 lots [6].