Group 1 - The stock price of Bio Co., Ltd. increased by 5.06% on January 9, reaching 17.45 CNY per share, with a trading volume of 918 million CNY and a turnover rate of 4.80%, resulting in a total market capitalization of 19.4 billion CNY [1] - Bio Co., Ltd. has experienced a continuous increase in stock price for five consecutive days, with a cumulative increase of 10.73% during this period [1] - The company, established on March 13, 1993, and listed on January 15, 1999, is primarily engaged in the research, production, and sales of veterinary biological products, with main business revenue composition being 94.42% from biopharmaceuticals, 3.18% from other income, and 2.40% from supplementary sources [1] Group 2 - E Fund's fund under management has a significant position in Bio Co., Ltd., with the E Fund CSI Modern Agriculture Theme ETF (562900) increasing its holdings by 19,600 shares in the third quarter, totaling 239,100 shares, which accounts for 2.79% of the fund's net value, ranking it as the eighth largest holding [2] - The estimated floating profit from the recent stock price increase is approximately 200,800 CNY, with a total floating profit of 385,000 CNY during the five-day increase [2] - The E Fund CSI Modern Agriculture Theme ETF (562900) was established on December 2, 2021, with a latest scale of 82.62 million CNY, and has reported a year-to-date return of 0.38%, ranking 5235 out of 5509 in its category [2]

Group 1 - The core point of the news is that Jin Yu Biological Technology Co., Ltd. has seen a stock price increase of 5.01%, reaching 15.72 yuan per share, with a trading volume of 779 million yuan and a turnover rate of 4.53%, resulting in a total market capitalization of 17.477 billion yuan [1] - The company, established on March 13, 1993, and listed on January 15, 1999, primarily engages in the research, production, and sales of veterinary biological products, with main business revenue composition being 94.42% from biopharmaceuticals, 3.18% from other income, and 2.40% from supplementary sources [1] Group 2 - From the perspective of major fund holdings, E Fund has one fund heavily invested in Jin Yu Biological, specifically the E Fund CSI Modern Agriculture Theme ETF (562900), which increased its holdings by 19,600 shares in the third quarter, totaling 239,100 shares, accounting for 2.79% of the fund's net value, ranking as the eighth largest holding [2] - The E Fund CSI Modern Agriculture Theme ETF (562900) was established on December 2, 2021, with a latest scale of 826.209 million yuan, showing a year-to-date return of 10.69% and a one-year return of 8.05%, with a cumulative loss of 20.3% since inception [2]

Core Insights - E Fund announced the appointment of Nie Qiwen as a new fund manager for multiple ETFs, including the E Fund CSI Internet of Things Theme ETF and the E Fund CSI Modern Agriculture Theme ETF [1][2][3][4] Fund Performance Summary - E Fund CSI Internet of Things Theme ETF, established on October 13, 2021, has a year-to-date return of 39.03% and a cumulative return since inception of 19.91%, with a net asset value of 1.1991 yuan as of December 2, 2025 [1] - E Fund CSI Internet of Things Theme ETF Link Fund A/C, launched on September 26, 2023, has year-to-date returns of 36.77% and 36.40%, and cumulative returns since inception of 55.32% and 54.27%, with net asset values of 1.5532 yuan and 1.5427 yuan respectively [1] - E Fund CSI State-Owned Enterprise Reform Index (LOF) A/C, established on June 15, 2015, and July 19, 2021, has year-to-date returns of 8.62% and 8.37%, and cumulative returns since inception of -3.14% and -4.31%, with net asset values of 0.9272 yuan and 1.4730 yuan respectively [1] - E Fund CSI Modern Agriculture Theme ETF, launched on December 2, 2021, has a year-to-date return of 10.49% and a cumulative return since inception of -20.45%, with a net asset value of 0.7955 yuan [2]

Market Overview - The Shanghai Composite Index rose by 1.14% to close at 3843.6 points, with a daily high of 3845.09 points [1] - The Shenzhen Component Index increased by 2.25% to close at 12571.37 points, reaching a high of 12571.37 points [1] - The ChiNext Index saw a significant rise of 3.82%, closing at 2827.17 points, with a peak of 2827.17 points [1] ETF Market Performance - The median return for stock ETFs was 1.55%, with the highest return from the Invesco CSI 50 ETF at 9.39% [2] - The top-performing industry ETF was the Southern CSI Communication Services ETF, yielding 8.89% [2] - The best-performing thematic ETF was the Bosera CSI Chip ETF, which achieved a return of 15.83% [2] ETF Gains and Losses - The top three ETFs by gain were: Bosera CSI Chip ETF (15.83%), Huaan CSI Chip ETF (9.9%), and Fortune CSI Chip ETF (9.58%) [5] - The three ETFs with the largest declines were: CMB CSI Hong Kong-Shenzhen Consumer Leaders ETF (-1.47%), Harvest CSI Major Consumer ETF (-1.35%), and E Fund CSI Modern Agriculture Theme ETF (-1.21%) [6] ETF Fund Flows - The ETFs with the highest inflows were: Guotai CSI All-Index Communication Equipment ETF (¥788 million), Bosera CSI AI ETF (¥758 million), and Harvest CSI Rare Earth Industry ETF (¥486 million) [8] - The ETFs with the largest outflows were: E Fund ChiNext ETF (¥1.141 billion), Huaxia CSI 50 ETF (¥926 million), and Southern CSI 1000 ETF (¥785 million) [9] ETF Margin Trading Overview - The top three ETFs by margin buying were: Huaxia CSI 50 ETF (¥1.196 billion), E Fund ChiNext ETF (¥987 million), and Harvest CSI Chip ETF (¥695 million) [11] - The ETFs with the highest margin selling were: Southern CSI 1000 ETF (¥75.58 million), Southern CSI 500 ETF (¥57.52 million), and Huaxia CSI 1000 ETF (¥40.27 million) [12] Institutional Insights - First Capital Securities highlighted the release of DeepSeek-V3.1, which is expected to enhance the compatibility of domestic AI computing chips, promoting the domestic AI computing chip industry [13] - Guotai Junan Securities emphasized the importance of the "three cycles" resonance for semiconductor valuation expansion, noting the optimistic outlook for the semiconductor industry driven by AI demand and supply chain adjustments [14]

Market Overview - The Shanghai Composite Index fell by 0.39% to close at 3868.38 points, with a high of 3888.6 points during the day [1] - The Shenzhen Component Index increased by 0.26% to close at 12473.17 points, reaching a peak of 12561.49 points [1] - The ChiNext Index decreased by 0.76% to close at 2742.13 points, with a maximum of 2773.24 points [1] ETF Market Performance - The median return of stock ETFs was -0.39% [2] - The top-performing scale index ETF was the China Southern Shenzhen Innovation 100 ETF, with a return of 1.98% [2] - The highest return among industry index ETFs was the China Southern CSI All-Share Software Development ETF at 1.62% [2] - The top strategy index ETF was the China Merchants CSI All-Share Free Cash Flow ETF, returning 1.3% [2] - The best-performing thematic index ETF was the E Fund CSI Modern Agriculture Theme ETF, with a return of 2.94% [2] ETF Performance Rankings - The top three ETFs by return were: - E Fund CSI Modern Agriculture Theme ETF (2.94%) [4] - Southern Guozheng Online Consumption ETF (2.92%) [4] - Fortune CSI Agriculture Theme ETF (2.9%) [4] - The worst-performing ETFs included: - Huaan CSI A500 Enhanced Strategy ETF (-5.08%) [4] - Penghua SSE Sci-Tech Innovation Board Chip ETF (-4.18%) [4] - E Fund CSI Rare Earth Industry ETF (-3.39%) [4] ETF Fund Flows - The top three ETFs by inflow were: - Penghua CSI Sub-Segment Chemical Industry Theme ETF (14.35 billion) [6] - E Fund ChiNext ETF (10.61 billion) [6] - Huatai-PB CSI Major Consumption ETF (7.48 billion) [6] - The top three ETFs by outflow were: - Huaan ChiNext 50 ETF (6.48 billion) [6] - ICBC Credit Suisse SSE Sci-Tech Innovation Board 50 Component ETF (5.46 billion) [6] - Guolian An CSI All-Share Semiconductor Products and Equipment ETF (5.18 billion) [6] ETF Margin Trading Overview - The top three ETFs by margin buying were: - Huaxia SSE Sci-Tech Innovation Board 50 Component ETF (9.66 billion) [8] - E Fund ChiNext ETF (8.6 billion) [8] - Guotai Junan CSI All-Share Securities Company ETF (5.02 billion) [8] - The top three ETFs by margin selling were: - Southern CSI 500 ETF (1.07 billion) [9] - Huatai-PB SSE 300 ETF (20.89 million) [9] - Huaxia SSE 50 ETF (10.25 million) [9] Industry Insights - Galaxy Securities recommends focusing on the pig farming industry for balanced investment opportunities, noting that most listed companies are at historical low valuations with significant upside potential [10] - CITIC Securities continues to recommend the farming sector, emphasizing stocks with strong profitability and innovative business models [10]

Core Viewpoint - The CSI Modern Agriculture Theme Index has shown a mixed performance, with a recent decline despite a year-to-date increase, indicating volatility in the agricultural sector [1][2]. Group 1: Index Performance - The CSI Modern Agriculture Theme Index (CS Modern Agriculture, 930662) fell by 0.4% to 997.35 points, with a trading volume of 7.519 billion [1]. - Over the past month, the index has decreased by 5.59%, while it has increased by 5.31% over the last three months and by 1.82% year-to-date [1]. Group 2: Index Composition - The index comprises 30 listed companies involved in various agricultural sectors, including agricultural products, seed industry, feed, animal health and breeding, livestock products, fishery products, and agricultural machinery [1]. - The top ten holdings in the index are: Muyuan Foods (14.98%), Wens Foodstuff Group (14.78%), Haida Group (12.99%), New Hope Liuhe (6.27%), Meihua Holdings (6.23%), Dabeinong Technology Group (4.08%), Longping High-Tech (3.1%), Beidahuang (3.08%), Shennong Development (2.79%), and Hainan Rubber (2.29%) [1]. Group 3: Market Segmentation - The index's holdings are primarily listed on the Shenzhen Stock Exchange (74.03%) and the Shanghai Stock Exchange (25.97%) [1]. - In terms of industry composition, livestock products account for 39.61%, feed for 37.86%, agricultural products for 8.40%, seed industry for 7.29%, animal health and breeding for 5.99%, and agricultural machinery for 0.84% [2]. Group 4: Index Adjustment Mechanism - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December [2]. - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2].