Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - After the technical adjustment of non - ferrous related varieties last week, there are signs of a rebound, and silver has reached a new high. The underlying logic is the demand logic of related commodities driven by the new economy, new energy, and AI economy, and there may be a risk of short - squeeze as the market progresses. The anti - involution logic of low - valued varieties is gradually advancing. Recently, chemical varieties have shown signs of a rebound and increased trading activity, which is worthy of attention. The national policy is determined to rectify involution - style competition and adjust the dynamic adjustment ability of the supply side. It is believed that anti - involution will be an inevitable theme in 2026 [2][5]. 3. Summary by Relevant Catalog 3.1 Week - long Market Viewpoint Summary - The strength - weakness structure of the commodity market in the past week remains unchanged, with non - ferrous metals and precious metals remaining strong. Chemical varieties have also shown strong performance recently. After a recent technical adjustment, non - ferrous commodities are strengthening again, and the upward trend continues [4]. - Gold and silver have broken through new highs after a short - term technical adjustment, and there are no signs of a trend reversal from the technical form [4]. - In the context of the easing of China - Canada trade relations, rapeseed oil has weakened, but soybean oil and palm oil are unaffected. The overall downside space for oils and fats is very limited, and they can be used as long - position allocations [4]. - The chemical sector will generally operate within the anti - involution framework in 2026. The national policy emphasizes the supply - demand adjustment of the petrochemical sector. The production capacity of glass has declined significantly recently, and the valuation of chemical products has reached an extreme level [4]. - Steel in the black sector is one of the key anti - involution varieties, and the downside space for coal is also limited. The coal supply - guarantee market is nearing its end. Recently, chemical varieties are showing signs of an upward trend [4]. 3.2 Data Tables - **Plate Capital Flow**: The total capital flow is 34.115 billion yuan. Among them, precious metals have a capital inflow of 5.764 billion yuan, non - ferrous metals 3.479 billion yuan, black metals - 0.594 billion yuan, energy 0.274 billion yuan, chemicals 4.047 billion yuan, feed and breeding 0.478 billion yuan, oils and fats 2.118 billion yuan, and soft commodities 0.259 billion yuan [9]. - **Black and Non - ferrous Weekly Data**: It shows price percentile, inventory percentile, valuation percentile, position percentile, open - interest change percentile, and annualized basis for various black and non - ferrous varieties such as iron ore, rebar, gold, silver, etc. For example, the price percentile of iron ore is 21.8%, and the inventory percentile is 100% [9]. - **Energy and Chemical Weekly Data**: It details price percentile, inventory percentile, valuation percentile, position percentile, open - interest change percentile, and annualized basis for energy and chemical products such as fuel oil, low - sulfur oil, asphalt, etc. For example, the price percentile of fuel oil is 7.5%, and the inventory percentile is 44.1% [11]. - **Agricultural Product Weekly Data**: It provides price percentile, inventory percentile, valuation percentile, position percentile, open - interest change percentile, and annualized basis for agricultural products such as soybean meal, rapeseed meal, soybean oil, etc. For example, the price percentile of soybean meal is 9.9%, and the inventory percentile is 91.9% [12].

Group 1 - The stock price of Ordos fell by 5.02% to 14.37 CNY per share, with a trading volume of 155 million CNY and a turnover rate of 0.54%, resulting in a total market capitalization of 40.218 billion CNY [1] - Ordos Resources Co., Ltd. is located in the Dongsheng District of Ordos City, Inner Mongolia, and was established on October 15, 1995, with its listing date on April 26, 2001. The company's main business includes cashmere clothing, power metallurgy, and chemicals [1] - The revenue composition of Ordos includes: silicon iron 37.05%, PVC resin 18.59%, clothing 13.60%, caustic soda 7.78%, others 7.65%, coal 5.87%, silicon manganese alloy 3.76%, fertilizer 2.81%, calcium carbide 2.55%, and polysilicon 0.34% [1] Group 2 - The Zhongyou Core Preferred Mixed A Fund (590001) holds 1.55 million shares of Ordos, accounting for 1.97% of the fund's net value, ranking as the ninth largest holding. The estimated floating loss today is approximately 1.178 million CNY [2] - The Zhongyou Core Preferred Mixed A Fund was established on September 28, 2006, with a current scale of 799 million CNY. Year-to-date return is 2.2%, ranking 6418 out of 8848 in its category; the one-year return is 6.38%, ranking 6975 out of 8093; and since inception, the return is 100.03% [2] Group 3 - The fund managers of Zhongyou Core Preferred Mixed A are Chen Liang and Wang Gao. Chen Liang has a tenure of 11 years and 184 days, with a total fund asset size of 3.46 billion CNY, achieving a best return of 61.38% and a worst return of -51.16% during his tenure [3] - Wang Gao has a tenure of 5 years and 198 days, managing a total fund asset size of 1.915 billion CNY, with a best return of 76.18% and a worst return of -29.36% during his tenure [3]

从基金十大重仓股角度 截至发稿，孙晨进累计任职时间10年304天，现任基金资产总规模20.31亿元，任职期间最佳基金回报 70.08%， 任职期间最差基金回报-27.66%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 数据显示，浦银安盛基金旗下1只基金重仓鄂尔多斯。浦银安盛红利量化混合A（022488）三季度持有 股数30.6万股，占基金净值比例为1.84%，位居第四大重仓股。根据测算，今日浮亏损失约3.67万元。 连续3天下跌期间浮亏损失48.04万元。 浦银安盛红利量化混合A（022488）成立日期2024年11月29日，最新规模7590.78万。今年以来收益 1.48%，同类排名6521/8838；近一年收益12.29%，同类排名6285/8089；成立以来收益9.16%。 浦银安盛红利量化混合A（022488）基金经理为孙晨进。 1月14日，鄂尔多斯跌0.84%，截至发稿，报14.23元/股，成交3.16亿元，换手率1.12%，总市值398.27亿 元。鄂尔 ...

1月7日，鄂尔多斯涨5.38%，截至发稿，报15.07元/股，成交2.75亿元，换手率0.94%，总市值421.78亿 元。 资料显示，内蒙古鄂尔多斯资源股份有限公司位于内蒙古鄂尔多斯市东胜区罕台轻纺街1号，成立日期 1995年10月15日，上市日期2001年4月26日，公司主营业务涉及羊绒服装、电力冶金化工。主营业务收 入构成为：硅铁37.05%，PVC树脂18.59%，服装13.60%，烧碱7.78%，其他7.65%，煤炭5.87%，硅锰合 金3.76%，化肥2.81%，电石2.55%，多晶硅0.34%。 从基金十大重仓股角度 广发高股息优享混合A（008704）成立日期2020年1月20日，最新规模2.37亿。今年以来收益2.13%，同 类排名5620/8823；近一年收益24.25%，同类排名4880/8083；成立以来收益32.39%。 广发高股息优享混合A（008704）基金经理为孙迪、胡骏。 截至发稿，孙迪累计任职时间8年27天，现任基金资产总规模34.38亿元，任职期间最佳基金回报 234.15%， 任职期间最差基金回报-46.52%。 胡骏累计任职时间4年11天，现任基金资产总规模7.09亿 ...

天眼查App显示，近日，江西格恩再生资源有限公司成立，法定代表人为邹强，注册资本500万人民 币，经营范围为许可项目：木材采运，建设工程施工（依法须经批准的项目，经相关部门批准后在许可 有效期内方可开展经营活动，具体经营项目和许可期限以相关部门批准文件或许可证件为准）一般项 目：选矿，金属矿石销售，非金属矿及制品销售，金属链条及其他金属制品制造，再生资源销售，再生 资源回收（除生产性废旧金属），资源再生利用技术研发，再生资源加工，生产性废旧金属回收，非金 属废料和碎屑加工处理，竹制品制造，竹制品销售，木材加工，木材收购，木材销售，煤炭洗选，煤炭 及制品销售，煤制活性炭及其他煤炭加工，国内贸易代理，建筑材料销售，金属链条及其他金属制品销 售，金属材料销售，林业产品销售（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Core Viewpoint - Ordos Resources Co., Ltd. experienced a stock price increase of 5.02%, reaching 11.09 CNY per share, with a trading volume of 138 million CNY and a turnover rate of 0.65%, resulting in a total market capitalization of 31.038 billion CNY [1] Group 1: Company Overview - Ordos Resources Co., Ltd. is located in the Dongsheng District of Ordos City, Inner Mongolia, and was established on October 15, 1995, with its stock listed on April 26, 2001 [1] - The company's main business activities include cashmere clothing, power metallurgy, and chemical production [1] - The revenue composition of the company is as follows: silicon iron 37.05%, PVC resin 18.59%, clothing 13.60%, caustic soda 7.78%, others 7.65%, coal 5.87%, silicon manganese alloy 3.76%, fertilizer 2.81%, calcium carbide 2.55%, and polysilicon 0.34% [1] Group 2: Shareholder Information - Among the top ten circulating shareholders of Ordos, a fund under Southern Fund, the Southern CSI 500 ETF (510500), entered the top ten in the second quarter, holding 8.8732 million shares, which accounts for 0.32% of the circulating shares [2] - The estimated floating profit from this investment is approximately 4.7028 million CNY [2] Group 3: Fund Performance - The Southern CSI 500 ETF (510500) was established on February 6, 2013, and currently has a total asset size of 113.438 billion CNY [2] - Year-to-date, the fund has achieved a return of 30.65%, ranking 1692 out of 4220 in its category; over the past year, it has returned 36.69%, ranking 1536 out of 3857; and since inception, it has returned 147.89% [2]