I. Stock Market Recap

Data from the Southern Financial Terminal shows that yesterday (July 30, same below), the Shanghai Composite Index rose 0.17% intraday, closing at 3,615.72 points, with a high of 3,636.17 points. The Shenzhen Component Index fell 0.77% intraday, closing at 11,203.03 points, with a high of 11,307.62 points. The ChiNext Index dropped 1.62% intraday, closing at 2,367.68 points, with a high of 2,395.89 points.

II. ETF Market Performance

1. Overall Performance of Equity ETFs
   The median return of equity ETFs yesterday was -0.51%. By category:

• Among size index ETFs, E Fund CSI A100 ETF had the highest return at 1.09%.

• Among sector index ETFs, Penghua China Securities Oil & Gas ETF had the highest return at 1.56%.

• Among strategy index ETFs, ICBC Credit Suisse Shenzhen Dividend ETF had the highest return at 0.95%.

• Among style index ETFs, Bosera China Securities Large-Cap Value ETF had the highest return at 0.72%.

• Among thematic index ETFs, Yinhua CSI Oil & Gas Resources ETF had the highest return at 3.25%.

2. Top Gainers & Losers in Equity ETFs
   The top 3 gaining equity ETFs yesterday were:

• Yinhua CSI Oil & Gas Resources ETF (+3.25%)

• ChinaAMC CSI Petrochemical Industry ETF (+2.07%)

• E Fund CSI Petrochemical Industry ETF (+1.66%)

The top 3 declining equity ETFs were:

• Huabao CSI FinTech Theme ETF (-3.3%)

• Bosera CSI FinTech Theme ETF (-3.15%)

• ChinaAMC CSI FinTech Theme ETF (-2.94%)

3. ETF Fund Flows
   The top 3 equity ETFs by inflows yesterday were:

• E Fund ChiNext ETF (¥1.542 billion inflow)

• Harvest SSE STAR Market Chip ETF (¥402 million inflow)

• HuaAn ChiNext 50 ETF (¥395 million inflow)

The top 3 by outflows were:

• E Fund CSI 300 Healthcare ETF (¥629 million outflow)

• GTJA CSI Semiconductor Products & Equipment ETF (¥439 million outflow)

• Southern CSI 500 ETF (¥415 million outflow)

4. ETF Margin Trading Overview
   The top 3 equity ETFs by margin buying volume yesterday were:

• ChinaAMC SSE STAR Market 50 ETF (¥986 million)

• E Fund ChiNext ETF (¥625 million)

• Guotai CSI Securities Company ETF (¥346 million)

The top 3 by margin selling volume were:

• Southern CSI 500 ETF (¥32.0319 million)

• Huatai-PB CSI 300 ETF (¥29.2736 million)

• ChinaAMC SSE 50 ETF (¥20.3626 million)

VI. Institutional Views

① Continued Optimism on the Oil Sector

Everbright Securities stated that the medium-to-long-term supply-demand dynamics of crude oil remain favorable, and they maintain a firm bullish stance on the oil sector from a long-term perspective.

② Refined Oil Products Enter Peak Consumption Season

China Post Securities noted that current crude oil prices are largely influenced by regional geopolitical factors, which carry uncertainty. Additionally, refined oil products are gradually entering peak consumption season, and the "anti-involution" trend is also boosting market sentiment.