Group 1 - The coal ETF (515220) saw a net inflow of over 120 million yesterday, indicating strong investor interest in the coal sector [1] - Since late June, coking coal prices have shown strong performance, with the price of Liulin No. 4 coking coal rising 35% from the early July low [1] - The price ratio of Liulin No. 4 coking coal to raw coal is currently 2.35, above the five-year average of 1.97, suggesting potential for raw coal price increases if coking coal prices remain strong [1] Group 2 - Historical data shows that strong increases in coking coal prices since the end of 2021 typically last over three months, impacting thermal coal prices through a transmission mechanism [1] - The price ratio of Datong South Suburb weak coking coal to Liulin No. 4 raw coking coal is 0.82, higher than the historical average of 0.75, indicating potential for thermal coal price increases if raw coking coal prices rise [1] - Recent production cuts in Shanxi coal mines due to accidents and environmental factors, combined with increased downstream inventory demand, support the coal price fundamentals [1] Group 3 - The coal ETF (515220) tracks the CSI Coal Index (399998), which selects listed companies involved in coal mining, washing, and sales to reflect the overall performance of the coal industry [1] - The index constituents are representative of the industry and focus on the energy sector, reflecting market dynamics and economic value of the coal industry [1] - Investors without stock accounts can consider the Guotai CSI Coal ETF Connect C (008280) and Guotai CSI Coal ETF Connect A (008279) for exposure to the coal sector [1]