Group 1 - The Hang Seng Index fell by 0.43%, down 109 points, while the Hang Seng Tech Index dropped by 1.57%. The morning trading volume in Hong Kong stocks was HKD 148.2 billion [1] - The Hang Seng Biotechnology Index rose by 1.77%, with notable gains from MicroPort Medical (00853) up 9.7%, MicroPort NeuroScience (02172) up over 8%, and Innovent Biologics (01801) up 4.85% [1] - WuXi AppTec (02359) increased by 2.24%, WuXi Biologics (02126) rose by 6.5%, and WuXi Biologics (02269) saw an increase of over 3% after announcing the construction of a modular biomanufacturing facility in Singapore [1] Group 2 - Mindray Medical-B (02160) surged by 8.8% as the company is expected to acquire and restructure the MicroPort cardiac rhythm management business, enhancing its product pipeline [2] - Insurance stocks continued to rise, with New China Life Insurance (01336) up 4.47% and China Life Insurance (02628) increasing by 1.5% [3] Group 3 - 361 Degrees (01361) rose by 6.5%, with the company showing steady revenue growth, and institutions expect strong revenue growth for the full year [4] - Dreamscape (01119) increased by 3.5% after signing a capitalization agreement with Playrix, bringing in a long-term strategic partner [5] Group 4 - GAC Group-B (01167) surged over 20% as a concerted action party increased its holdings by over 60,000 shares, raising its stake to 25.36% [6] - Semiconductor stocks collectively declined, with Hua Hong Semiconductor (01347) down 5.3%, SMIC (00981) down 3.9%, and ASMPT (00522) down 2.74% [6]

Report Industry Investment Rating No information provided in the given content. Core Views of the Report The report comprehensively analyzes the market conditions of various financial derivatives and commodity futures on July 30, 2025. It presents the market performance, influencing factors, and operation suggestions for each category, including stock index futures, treasury bond futures, precious metals, container shipping futures, non - ferrous metals, black metals, and agricultural products. The overall market is affected by multiple factors such as macro - policies, international trade negotiations, and seasonal demand changes. Summary by Directory Financial Derivatives Financial Futures - **Stock Index Futures**: On Tuesday, A - shares showed an intraday upward trend, with all major indices closing in the green. The technology sector led the rally, while high - dividend sectors declined. All four major stock index futures contracts rose with the indices. With the market approaching the mid - report disclosure period, it is necessary to verify the substantial improvement of corporate earnings. It is recommended to gradually take profits on IM futures long positions and switch to a small amount of MO put option short positions with an exercise price of 6000 on the 08 contract [2][3][4]. - **Treasury Bond Futures**: The stock market was strong, and there were expectations of incremental policies from the Politburo meeting, causing treasury bond futures to decline significantly. Long - term bonds were more strongly suppressed by policy expectations, while the loosening of funds supported short - term bonds. It is recommended to wait and see in the short term and pay attention to the incremental policies of the Politburo meeting and the progress of Sino - US negotiations. The 2509 - 2512 contract inter - period spread may tend to rise in the short term [5][6]. Precious Metals - **Gold and Silver**: As the Fed's interest rate decision approaches, precious metals are in a state of shock consolidation. The market will gradually return to the influence logic of the US economic fundamentals. It is recommended to buy gold at low levels during the correction and buy silver at low levels above $38. The inflow of institutional funds into ETFs provides short - term support for prices [7][9][10]. Container Shipping Futures - **EC**: The main contract is in a weak shock state. The current mainstream shipping companies have announced their August prices, and the uncertainty has decreased. It is expected to show a weak shock in the short - term, and it is recommended to short the 08 and 10 contracts at high prices [11][12]. Commodity Futures Non - Ferrous Metals - **Copper**: The copper market is in a narrow - range shock, waiting for macro driving factors. The supply of copper concentrate is expected to be restricted, and the demand shows resilience in the short - term. The inventories of COMEX, LME, and domestic social inventories are all increasing. It is expected to be in a shock state, and the main contract is expected to trade between 78,000 - 80,000 yuan/ton [13][15][16]. - **Alumina**: The warehouse receipts have decreased again, and there is a risk of a short squeeze. The supply of bauxite in Guinea is expected to be tight, and the inventory of warehouse receipts is low, supporting the price in the short - term. However, the market is expected to be slightly oversupplied in the medium - term. It is recommended to wait and see in the short - term and short at high prices in the medium - term, with the main contract expected to trade between 3100 - 3500 yuan/ton [17][18]. - **Aluminum**: The aluminum price has slightly declined, and the expectation of inventory accumulation in the off - season is still strong. The supply is stable, and the demand is in the traditional off - season. It is expected to be in a wide - range shock, and the main contract is expected to trade between 20,200 - 21,000 yuan/ton [19][21]. - **Aluminum Alloy**: The terminal consumption in the off - season is weak, and the social inventory in the main consumption areas is close to full. The supply is expected to decline slightly in July, and the demand is weak. It is expected to be in a wide - range shock, and the main contract is expected to trade between 19,600 - 20,400 yuan/ton [21][22][23]. - **Zinc**: The Sino - US trade negotiations have started, and the market is waiting for macro guidance. The supply of zinc ore is expected to be loose, but the production growth rate is lower than expected. The demand is affected by the off - season and the rise in price. It is expected to be in a shock state, and the main contract is expected to trade between 22,000 - 23,000 yuan/ton [23][24][27]. - **Tin**: The market sentiment has weakened, and the tin price has fallen from a high level. The supply of tin ore is tight, and the demand is weak. It is recommended to wait and see, and the market is expected to be in a wide - range shock [27][28][29]. - **Nickel**: The market sentiment has gradually been digested, and the nickel price is in a weak shock state. The supply is expected to increase slightly, and the demand is stable in the electroplating and alloy sectors but weak in the stainless steel and nickel sulfate sectors. It is expected to be in a range adjustment, and the main contract is expected to trade between 120,000 - 128,000 yuan/ton [29][30][31]. - **Stainless Steel**: The stainless steel market is in a narrow - range shock, and the demand is still dragged down. The supply is slightly reduced, but the demand is weak. It is expected to be in a range operation, and the main contract is expected to trade between 12,600 - 13,200 yuan/ton [32][33][35]. - **Lithium Carbonate**: The market sentiment has not improved significantly, and the trading core has shifted to the mining end. The supply is relatively high in the short - term, and the demand is stable. The whole - link inventory is increasing, but the growth rate has slowed down. It is recommended to wait and see carefully, and the market is expected to be in a wide - range shock [35][36][38]. Black Metals - **Steel**: The expectation of production restrictions has affected the steel price to strengthen. The cost has increased, and the profit of steel mills has improved. The supply is expected to be affected by production restrictions, and the demand is seasonally stable. It is recommended to try long positions as the steel price has broken through the previous high [40][41]. - **Iron Ore**: The iron ore price fluctuates with the steel price. The global shipment volume has increased, and the port inventory has slightly increased. The demand for iron ore is supported by the high - level iron water production. It is recommended to be cautious when going long on a single - side basis and consider the strategy of going long on hot - rolled coils and short on iron ore [42][45]. - **Coking Coal**: The futures price has fluctuated greatly, and the spot price has increased steadily. The supply is tight, and the demand is strong. The inventory is at a medium level. It is recommended to be cautious when going long on a single - side basis and consider the strategy of going long on coking coal and short on iron ore, avoiding the risk of exchange intervention [46][50][51]. - **Coke**: The fourth price increase of mainstream coking plants has been implemented, and there is still an expectation of further price increases. The supply is difficult to increase due to corporate losses, and the demand is supported by the recovery of iron water production. The inventory is at a medium level. It is recommended to be cautious when going long on a single - side basis and consider the strategy of going long on coke and short on iron ore, avoiding the risk of exchange intervention [52][55]. Agricultural Products - **Meal**: The bottom of US soybeans is well - supported, but the supply - demand situation suppresses the meal price. The domestic soybean and soybean meal inventories are rising, and the supply is high in the short - term. It is recommended to wait and see [56][57][58]. - **Pigs**: The spot price is in a weak state, and the previous policy benefits have been digested. The supply and demand are both weak, and the short - term price is not optimistic. It is recommended to be cautious when shorting the far - month contracts and pay attention to the impact of hedging funds [59][60]. - **Corn**: The market is in a state of long - short balance, and the price is in a shock state. The supply is relatively stable, and the demand is weak. The substitution effect is slowing down. It is recommended to pay attention to the subsequent policy auctions [61][62]. - **Sugar**: The international raw sugar price is bottom - oscillating, and the domestic sugar price is also in a bottom - shock state. The international market has no new driving factors, and the domestic supply - demand situation is gradually becoming looser. It is recommended to maintain a short - biased view after a rebound [63]. - **Cotton**: The domestic cotton price is expected to be in a range - shock in the short - term and under pressure after the new cotton is listed. The supply pressure is increasing marginally, and the demand is weak [64].

第六届全国非公有制经济人士优秀中国特色社会主义事业建设者表彰大会7月29日在北京召开，100名非 公有制经济人士和新的社会阶层人士获得"优秀中国特色社会主义事业建设者"称号。其中，山东5人获 此荣誉，分别是山东魏桥创业集团董事长张波，山东东明石化集团有限公司党委书记、董事局主席李湘 平，青岛蔚蓝生物集团有限公司董事长、总裁陈刚，临沂市兰山区禾力商贸工作室负责人徐军，山东国 曜琴岛律师事务所首席合伙人李连祥。 民营经济撑起了山东经济发展的"半壁江山"。全省非公有制经济人士和新的社会阶层人士坚定理想信 念、勇担时代重任、推动高质量发展、积极履行社会责任，为山东经济社会发展作出了积极贡献。 李连祥带领国曜琴岛律师事务所的800多名律师及工作人员，热忱服务企业、回馈社会，开展多项社会 公益活动，积极践行社会责任。（记者 魏然） 作为山东民企领跑者魏桥创业集团的掌舵人，张波秉持"为国创业、为民造福"初心，带领企业绿色转 型，推动数智化改革和科技创新，打造了中国最大的全流程汽车轻量化研发制造基地，使魏桥成为全球 唯一具备铝全产业链、整车制造与回收的企业，连续十余年入选世界500强。 李湘平坚持创新驱动、绿色转型，主导突破 ...

近期艾德生物（300685）发布2025年中报，证券之星财报模型分析如下： 营收与利润 艾德生物发布的2025年中报显示，截至报告期末，公司营业总收入为5.79亿元，同比上升6.69%。归母 净利润为1.89亿元，同比上升31.41%，扣非净利润为1.85亿元，同比上升39.97%。这表明公司在报告期 内实现了较为稳健的营收增长，且净利润显著提升。 按单季度数据看，第二季度营业总收入为3.07亿元，同比下降0.8%，但第二季度归母净利润为9856.56 万元，同比上升23.74%，扣非净利润为9757.26万元，同比上升30.03%。尽管第二季度营收略有下降， 但净利润仍保持较高增速。 每股净资产为4.82元，同比增加8.83%；每股经营性现金流为0.44元，同比增加24.78%；每股收益为0.48 元，同比增加33.33%。 主营业务构成 公司主营业务收入主要来自检测试剂、药物临床研究服务、检测服务及其他业务。其中，检测试剂收入 为4.83亿元，占主营收入的83.43%，毛利率高达90.72%；药物临床研究服务收入为5698.83万元，占 9.84%，毛利率为53.14%；检测服务收入为3250.49万元， ...

Core Insights - The number of QDII funds in China reached 319 with a total scale of 683.77 billion yuan, marking an 11.85% increase from the end of last year, a historical high [1][2] - Significant growth in QDII fund shares investing in the Hong Kong stock market, with eight out of the top ten funds by share increase being QDII funds focused on Hong Kong stocks [2] - The Hong Kong technology-themed QDII funds saw remarkable share increases, particularly index funds, with the largest being the Huaxia Hang Seng Technology ETF, which increased by 9.51 billion shares [2] QDII Fund Growth - As of the end of June, QDII funds' total scale reached 683.77 billion yuan, a historical high [1][2] - The share of QDII funds investing in Hong Kong stocks significantly increased, with eight funds in the top ten for share growth [2] - The Huaxia Hang Seng Technology ETF had a share increase of 9.51 billion, leading the market [2] Global Fund Allocation - There is a growing trend in domestic funds for global allocation, with several funds like the Bosera S&P 500 ETF and Huaxia Nasdaq 100 ETF showing notable share increases [3] Domestic Fund Holdings in Hong Kong - As of July 28, net inflows from southbound funds reached 772.19 billion yuan, surpassing the total for the entire year of 2024 [4] - The number of domestic public funds investing in Hong Kong stocks increased to 4,048, with total assets reaching 2.62 trillion yuan [4] - The stock market value held by public funds in Hong Kong reached 734.3 billion yuan, a 12.8% increase [4] Outlook on Hong Kong Market - The Hong Kong market has rebounded significantly, with the Hang Seng Index and Hang Seng Technology Index rising by 27.43% and 26.77% respectively [5] - Fund managers maintain an optimistic outlook on the Hong Kong market, citing signs of economic recovery and the presence of globally competitive Chinese companies [6]

从指数持仓来看，中华交易服务香港生物科技指数十大权重分别为：康方生物（13.26%）、信达生物 （9.98%）、药明生物（9.61%）、三生制药（9.24%）、百济神州（8.51%）、药明康德（6.21%）、再 鼎医药（5.1%）、科伦博泰生物-B（4.61%）、金斯瑞生物科技（4.07%）、诺诚健华-B（4.05%）。 金融界7月29日消息，上证指数低开高走，中华交易服务香港生物科技指数 (中华香港生物科技， CESHKB)上涨4.33%，报9737.36点，成交额221.25亿元。 数据统计显示，中华交易服务香港生物科技指数近一个月上涨33.88%，近三个月上涨64.29%，年至今 上涨117.31%。 据了解，"中华交易服务香港生物科技指数由中华证券交易服务有限公司(中华交易服务)委托中证指数 有限公司(中证指数)进行编制，指数编制方案由中华交易服务以及中证指数共同确定。中华交易服务香 港生物科技指数(中华香港生物科技)为证券价格指数，旨在反映于香港上市的生物科技公司的整体表 现"该指数以2014年12月12日为基日，以2000.0点为基点。 从中华交易服务香港生物科技指数持仓的市场板块来看，香港证券交 ...

Core Viewpoint - Zhongji Changshou Science (00767) has entered into a memorandum of cooperation with Haoshiduo (Shenzhen) Biotechnology Co., Ltd. to collaborate on longevity detection and management services, aiming to provide longevity-related products and health consultation services in the health industry [1][2] Group 1 - The cooperation will involve Zhongji Changshou's subsidiary, Hongfeng Development, providing product services and management system support, while Haoshiduo will supply domestic customer resources and market sales channels [1] - Haoshiduo is an innovative biotechnology company engaged in health, biotechnology research and development, and artificial intelligence application software development, with strong customer base and market expansion capabilities [1] - The board believes that the health and longevity science market has broad prospects, as wealthy customers globally are increasingly willing to invest in longevity science applications to enhance their overall health and immune status [1] Group 2 - The memorandum aligns with the group's strategy for developing longevity science business and is expected to benefit future business growth [2] - The board is confident that the cooperation will enhance the group's layout in the longevity science diagnostics and medical services sector, opening new revenue sources in longevity science [2] - The aim is to achieve more stable and sustainable revenue growth for the group in the long term [2]

Core Viewpoint - Zhongji Longevity Science (00767) has signed a memorandum of cooperation with Haoshiduo (Shenzhen) Biotechnology Co., Ltd. to collaborate on longevity detection and management services, aiming to provide longevity-related health products and services [1][2] Group 1: Cooperation Details - The cooperation involves Zhongji's subsidiary, Hongfeng Development, providing product services and management system support, while Haoshiduo will supply domestic customer resources and market sales channels [1] - Haoshiduo is an innovative biotechnology company engaged in health, biotechnology research and development, and AI application software development, with strong market capabilities and brand promotion [1] Group 2: Market Outlook - The board believes the health longevity science market has significant potential, as affluent customers are increasingly willing to invest in longevity applications to enhance their overall health and immune status [1] - The memorandum aligns with the group's longevity science business development strategy, which is expected to enhance the company's positioning in the longevity science diagnostics and medical services sector, creating new revenue streams for stable and sustainable growth [2]

中基長壽科學集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：767） 自願公告 合作備忘錄 本公告由中基長壽科學集團有限公司（「本公司」，連同其附屬公司，「本集團」）自願 作出。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Zhong Ji Longevity Science Group Limited 備忘錄 本公司董事（「董事」）會（「董事會」）欣然宣佈，於二零二五年七月二十九日，本公司 之全資附屬公司浤烽發展有限公司（「浤烽發展」）與好柿多（深圳）生物科技有限公司 （「好柿多」）訂立合作備忘錄（「備忘錄」），據此，浤烽發展與好柿多有意共同合作長 壽檢測、長壽管理等業務，為客戶提供長壽生物製品、長壽醫學檢測、健康諮詢服 務、長壽管理等大健康產業產品及服務。 擬進行之合作事項將包括浤烽發展負責提供產品服務及管理系統的支援，好柿多負 責為浤烽發展提供國內客戶資源及市場銷售管道。 – 1 – 關於好柿多之資料 好柿多是一家於二零二五年於 ...

Group 1 - The Hang Seng Hong Kong Stock Connect Innovative Drug Index rose by 4.4%, with a year-to-date increase of over 100% [1] - The CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index increased by 4.0%, while the CSI Innovative Drug Industry Index rose by 3.0% [1] - The CSI Biotechnology Theme Index and the CSI 300 Pharmaceutical and Health Index saw increases of 2.6% and 2.5%, respectively [1] Group 2 - The Hang Seng Innovative Drug ETF (159316) has seen continuous inflows for 10 trading days, reaching a record size of over 800 million yuan [1] - The CSI Biotechnology Theme Index, which focuses on A-share biotechnology leaders, has a rolling price-to-earnings ratio of 59.8 times and has increased by 2.6% [4] - The CSI 300 Pharmaceutical and Health Index, which covers leading companies in the pharmaceutical and health industry, has a rolling price-to-earnings ratio of 31.4 times and has increased by 2.5% [4]