**Market Sentiment Tracking**
As of August 29, 2025, the CSI 300 advancing stocks ratio indicator has increased month-over-month, with the advancing stocks ratio exceeding 90%, indicating elevated market sentiment. From the momentum sentiment indicator perspective, both fast and slow lines have moved upward synchronously over the past month, with the fast line positioned above the slow line, suggesting a bullish outlook is expected to persist in the near term. The moving average sentiment indicator shows that the CSI 300 Index remains within the sentiment prosperity zone in the short term. The optimistic signals from market sentiment indicators reflect the continued improvement in market risk appetite recently.
**Fund Clustering Tracking**
As of August 29, 2025, fund clustering separation has slightly increased, indicating a high degree of fund clustering. Over the past month, clustered stocks' excess returns have marginally improved, while clustered funds' excess returns have slightly declined.
**PB-ROE-50 Strategy Tracking**
In August 2025, the PB-ROE-50 strategy achieved positive excess returns in both the CSI 800 and broader market stock pools. The strategy generated an excess return of -0.54% based on the CSI 500 stock pool, an excess return of 5.22% based on the CSI 800 stock pool, and an excess return of 7.61% based on the broader market stock pool.
**Institutional Research Strategy Tracking**
In August 2025, both public fund research stock selection strategy and private fund research tracking strategy generated negative excess returns. The public fund research stock selection strategy achieved an excess return of -1.33% relative to the CSI 800, while the private fund research tracking strategy achieved an excess return of -5.05% relative to the CSI 800.
**Negative Screening List**
As of August 29, 2025, among the top 30 stocks with lenient interest-bearing debt ratios, Zhongyi Da, Compass, Modern Investment, Chunxing Precision, Huamin Co., Aufine Data, United Electronics, Huaying Technology, and Baoxin Technology ranked 100th or lower under traditional criteria.
Stocks with higher financial cost burden ratios include Liancheng Precision, Septwolves, Jilin Aodong, SEDDI, Samsung New Materials, Inventronics, Reeson Technology, Baoming Technology, Chengbang Co., Kewell, Fujian Jinsen, Zhewen Interactive, Haibo Heavy Industry, Emperor Home, Yuyuan Tourist Mart, Xingsen Technology, Dalian Thermal Power, Chuanrun Co., Yuexin Health, Shenzhen Zhenye A, Tsinghua Tongfang, and Zhangzhou Development, all with indicator values exceeding 10 times.
All report results are based on models and historical data. Models carry the risk of failure, and historical data may not be repeatedly validated.