期货研究院 格林大华期货研究院专题报告 宏观经济 2025年9月10日 | 宏观国债研究员：刘洋 | | | --- | --- | | 从业资格证号： | F3063825 | 交易咨询证号： Z0016580 联系方式： liuyang18036@greend h.com 证监许可【2011】1288号 成文时间：2025年9月10日星期三 更多精彩内容请关注格林大华期货官方微信 8月中国CPI和PPI环比均持平 摘要 格林大华期货交易咨询业务资格： 8月份全国居民消费价格（CPI）同比下降0.4%，市场预期降0.2 %，前值持平。8月份食品价格同比下降4.3%，降幅比上月扩大2.7个 百分点，对CPI同比的下拉影响比上月增加约0.51个百分点，8月份C PI同比由平转降，主要是上年同期对比基数走高叠加本月食品价格涨 幅低于季节性水平所致，上年价格变动对本月CPI同比的翘尾影响约 为-0.9个百分点。8月核心CPI同比上涨0.9%，7月同比上涨0.8%，核 心CPI同比在过去四个月涨幅连续扩大。 8月CPI环比持平，前值环比上涨0.4%。8月食品价格环比上涨0. 5%，涨幅低于季节性水平约1.1个百分点， ...

Group 1 - The opening of the Yarlung Zangbo River downstream hydropower project on July 19, 2025, has sparked significant interest in the A-share market, leading to the Shanghai Composite Index surpassing 3600 points and many listed companies experiencing a surge in stock prices [1] - Companies are increasingly attempting to capitalize on the popularity of the Yarlung Zangbo River project, with platforms like Shanghai Stock Exchange's e-Interaction and Shenzhen Stock Exchange's Interactive Easy becoming popular venues for these companies to "hitch a ride" on the hot topic [2][3] - The ability of listed companies to effectively engage in "hitching a ride" on market trends has improved significantly over the years, showcasing their growing sophistication in this area [3] Group 2 - Tian Kang Biological (002100.SZ) and Yuyue Medical (002223.SZ) have been recognized for their creative approaches to leveraging the Yarlung Zangbo project, with Tian Kang's strategy being particularly noted for its boldness [4] - Chongqing Steel (601005.SH) and Teruid (300001.SZ) have formed specialized technical teams to address the opportunities presented by the Yarlung Zangbo project, although questions have been raised about the timing of this decision [6] - Companies like Falan Tech (603966.SH), Anke Rui (300286.SZ), and Youfa Group (601686.SH) have been noted for their lengthy and elaborate responses regarding their involvement with the Yarlung Zangbo project, with varying degrees of clarity and relevance [8][10][11]