> **来源：[研报客](https://pc.yanbaoke.cn)** # 国债期货持仓日报 2026年2月24日 # 国债期货成交概要 <table><tr><td></td><td>收盘价</td><td>+/-</td><td>成交量</td><td colspan="2">+/-</td><td>成交额</td><td colspan="2">+/-</td><td>持仓量</td><td colspan="2">+/-</td><td>持仓保证金(亿元)</td></tr><tr><td>T2603</td><td>108.50</td><td>0.02%</td><td>114,901</td><td colspan="2">1%</td><td>1,247</td><td colspan="2">1%</td><td>87,747</td><td colspan="2">-55,486</td><td>19.0</td></tr><tr><td>T2606</td><td>108.61</td><td>0.08%</td><td>135,055</td><td colspan="2">46%</td><td>1,467</td><td colspan="2">46%</td><td>253,564</td><td colspan="2">70,927</td><td>55.1</td></tr><tr><td>T2609</td><td>108.61</td><td>0.09%</td><td>1,573</td><td colspan="2">0%</td><td>17</td><td colspan="2">0%</td><td>8,078</td><td colspan="2">432</td><td>1.8</td></tr><tr><td>合计</td><td></td><td></td><td>251,529</td><td colspan="2">21%</td><td>2,731</td><td colspan="2">21%</td><td>349,389</td><td colspan="2">15,873</td><td>75.9</td></tr><tr><td></td><td>收盘价</td><td>+/-</td><td>成交量</td><td colspan="2">+/-</td><td>成交额</td><td colspan="2">+/-</td><td>持仓量</td><td colspan="2">+/-</td><td>持仓保证金(亿元)</td></tr><tr><td>TF2603</td><td>105.96</td><td>-0.02%</td><td>44,217</td><td colspan="2">-45%</td><td>469</td><td colspan="2">-45%</td><td>33,059</td><td colspan="2">-19,646</td><td>4.2</td></tr><tr><td>TF2606</td><td>106.18</td><td>0.07%</td><td>90,761</td><td colspan="2">13%</td><td>964</td><td colspan="2">13%</td><td>154,965</td><td colspan="2">26,620</td><td>19.7</td></tr><tr><td>TF2609</td><td>105.98</td><td>0.07%</td><td>1,677</td><td colspan="2">-11%</td><td>18</td><td colspan="2">-11%</td><td>9,587</td><td colspan="2">557</td><td>1.2</td></tr><tr><td>合计</td><td></td><td></td><td>136,655</td><td colspan="2">-16%</td><td>1,450</td><td colspan="2">-16%</td><td>197,611</td><td colspan="2">7,531</td><td>25.2</td></tr><tr><td></td><td>收盘价</td><td>+/-</td><td>成交量</td><td colspan="2">+/-</td><td>成交额</td><td colspan="2">+/-</td><td>持仓量</td><td colspan="2">+/-</td><td>持仓保证金(亿元)</td></tr><tr><td>TL2603</td><td>112.96</td><td>0.20%</td><td>63,711</td><td colspan="2">-28%</td><td>720</td><td colspan="2">-28%</td><td>54,942</td><td colspan="2">-16,672</td><td>21.7</td></tr><tr><td>TL2606</td><td>113.26</td><td>0.35%</td><td>68,949</td><td colspan="2">11%</td><td>781</td><td colspan="2">11%</td><td>121,421</td><td colspan="2">19,807</td><td>48.1</td></tr><tr><td>TL2609</td><td>113.07</td><td>0.35%</td><td>9,071</td><td colspan="2">211%</td><td>103</td><td colspan="2">212%</td><td>13,824</td><td colspan="2">5,630</td><td>5.5</td></tr><tr><td>合计</td><td></td><td></td><td>141,731</td><td colspan="2">-8%</td><td>1,603</td><td colspan="2">-7%</td><td>190,187</td><td colspan="2">8,765</td><td>75.3</td></tr><tr><td></td><td>收盘价</td><td>+/-</td><td>成交量</td><td colspan="2">+/-</td><td>成交额</td><td colspan="2">+/-</td><td>持仓量</td><td colspan="2">+/-</td><td>持仓保证金(亿元)</td></tr><tr><td>TS2603</td><td>102.45</td><td>0.02%</td><td>26,599</td><td colspan="2">-19%</td><td>545</td><td colspan="2">-19%</td><td>16,360</td><td colspan="2">-11,105</td><td>1.7</td></tr><tr><td>TS2606</td><td>102.52</td><td>0.03%</td><td>40,337</td><td colspan="2">66%</td><td>827</td><td colspan="2">66%</td><td>57,211</td><td colspan="2">13,968</td><td>5.9</td></tr><tr><td>TS2609</td><td>102.54</td><td>0.04%</td><td>204</td><td colspan="2">-23%</td><td>4</td><td colspan="2">-23%</td><td>1,333</td><td colspan="2">23</td><td>0.1</td></tr><tr><td>合计</td><td></td><td></td><td>67,140</td><td colspan="2">17%</td><td>1,376</td><td colspan="2">17%</td><td>74,904</td><td colspan="2">2,886</td><td>7.7</td></tr></table> # 国债期货净持仓情况 两年期国债期货净持仓 五年期国债期货净持仓 十年期国债期货净持仓 三十年期国债期货净持仓 # 两年期国债期货持仓情况 两年期国债期货2603合约持仓情况 <table><tr><td>名次</td><td>会员名称</td><td>成交量</td><td>前上日增减</td><td>名次</td><td>会员名称</td><td>持买单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td>名次</td><td>会员名称</td><td>持卖单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td></td><td></td></tr><tr><td>1</td><td>中信期货</td><td>10,784</td><td>-1,376</td><td>1</td><td>平安期货</td><td>3,165</td><td>-1,110</td><td>-22.7</td><td>19.3%</td><td></td><td>3.8%</td><td>1</td><td>中信期货</td><td>4,272</td><td>-2,371</td><td>-48.6</td><td>26.1%</td><td></td><td>1.9%</td></tr><tr><td>2</td><td>东证期货</td><td>7,584</td><td>-4,470</td><td>2</td><td>国泰君安</td><td>2,418</td><td>-1,171</td><td>-24.0</td><td>14.8%</td><td></td><td>1.7%</td><td>2</td><td>银河期货</td><td>3,122</td><td>-514</td><td>-10.5</td><td>19.1%</td><td></td><td>5.8%</td></tr><tr><td>3</td><td>国泰君安</td><td>6,341</td><td>-2,416</td><td>3</td><td>中信期货</td><td>1,884</td><td>-917</td><td>-18.8</td><td>11.5%</td><td></td><td>1.3%</td><td>3</td><td>国泰君安</td><td>2,766</td><td>1,268</td><td>-26.0</td><td>16.9%</td><td></td><td>2.2%</td></tr><tr><td>4</td><td>中信建投</td><td>3,903</td><td>1,022</td><td>4</td><td>华泰期货</td><td>1,449</td><td>-307</td><td>-6.3</td><td>8.9%</td><td></td><td>2.5%</td><td>4</td><td>广发期货</td><td>1,092</td><td>-1,620</td><td>-33.2</td><td>6.7%</td><td></td><td>-3.2%</td></tr><tr><td>5</td><td>永安期货</td><td>2,243</td><td>621</td><td>5</td><td>银河期货</td><td>1,188</td><td>-508</td><td>-10.4</td><td>7.3%</td><td></td><td>1.1%</td><td>5</td><td>宏源期货</td><td>738</td><td>-693</td><td>-14.2</td><td>4.5%</td><td></td><td>-0.7%</td></tr><tr><td>6</td><td>银河期货</td><td>2,224</td><td>424</td><td>6</td><td>中银期货</td><td>1,035</td><td>-275</td><td>-5.6</td><td>6.3%</td><td></td><td>1.6%</td><td>6</td><td>东证期货</td><td>578</td><td>-382</td><td>-11.9</td><td>3.5%</td><td></td><td>-0.7%</td></tr><tr><td>7</td><td>招商期货</td><td>2,164</td><td>-1,833</td><td>7</td><td>中信建投</td><td>806</td><td>-714</td><td>-14.6</td><td>4.9%</td><td></td><td>-0.6%</td><td>7</td><td>永安期货</td><td>493</td><td>-1,515</td><td>-31.0</td><td>3.0%</td><td></td><td>-4.3%</td></tr><tr><td>8</td><td>华泰期货</td><td>2,075</td><td>621</td><td>8</td><td>永安期货</td><td>506</td><td>-640</td><td>-13.1</td><td>3.1%</td><td></td><td>-1.1%</td><td>8</td><td>中信建投</td><td>373</td><td>-201</td><td>-4.1</td><td>2.3%</td><td></td><td>0.2%</td></tr><tr><td>9</td><td>平安期货</td><td>1,999</td><td>-1,350</td><td>9</td><td>海通期货</td><td>369</td><td>-285</td><td>-4.8</td><td>2.3%</td><td></td><td>0.1%</td><td>9</td><td>中银期货</td><td>300</td><td>-5</td><td>-0.1</td><td>1.8%</td><td></td><td>0.7%</td></tr><tr><td>10</td><td>广发期货</td><td>1,773</td><td>319</td><td>10</td><td>东证期货</td><td>326</td><td>-1,298</td><td>-26.6</td><td>2.0%</td><td></td><td>-3.9%</td><td>10</td><td>平安期货</td><td>252</td><td>-411</td><td>-8.4</td><td>1.5%</td><td></td><td>-0.9%</td></tr><tr><td></td><td>前五席位</td><td>30,855</td><td>-6,359</td><td></td><td>前五席位</td><td>10,104</td><td>-4,013</td><td>-82.2</td><td>61.8%</td><td>10.4%</td><td></td><td>前五席位</td><td>11,990</td><td>-6,466</td><td>-132.5</td><td>73.3%</td><td></td><td>4.0%</td><td></td></tr><tr><td></td><td>前十席位</td><td>41,090</td><td>-8,118</td><td></td><td>前十席位</td><td>13,146</td><td>-7,175</td><td>-147.0</td><td>80.4%</td><td>5.4%</td><td></td><td>前十席位</td><td>13,986</td><td>-9,180</td><td>-188.1</td><td>85.5%</td><td></td><td>0.9%</td><td></td></tr><tr><td></td><td>前二十席</td><td>47,496</td><td>-9,863</td><td></td><td>前二十席</td><td>14,737</td><td>-8,405</td><td>-172.2</td><td>90.1%</td><td>3.3%</td><td></td><td>前二十席</td><td>15,607</td><td>-9,757</td><td>-199.9</td><td>95.4%</td><td></td><td>1.8%</td><td></td></tr></table> 两年期国债期货2606合约持仓情况 <table><tr><td>名次</td><td>会员名称</td><td>成交量</td><td>前上日增减</td><td>名次</td><td>会员名称</td><td>持买单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td>名次</td><td>会员名称</td><td>持卖单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td></td><td></td></tr><tr><td>1</td><td>中信期货</td><td>17,801</td><td>5,373</td><td>1</td><td>中信期货</td><td>8,852</td><td>1,480</td><td>30.3</td><td>15.5%</td><td></td><td>.6%</td><td>1</td><td>国泰君安</td><td>12,718</td><td>1,202</td><td>24.6</td><td>22.2%</td><td>- .4%</td><td></td></tr><tr><td>2</td><td>国泰君安</td><td>11,000</td><td>4,717</td><td>2</td><td>中信建投</td><td>5,932</td><td>812</td><td>16.6</td><td>10.4%</td><td></td><td>.5%</td><td>2</td><td>中信期货</td><td>10,285</td><td>3,433</td><td>70.4</td><td>18.0%</td><td>2.1%</td><td></td></tr><tr><td>3</td><td>东证期货</td><td>8,896</td><td>3,837</td><td>3</td><td>国泰君安</td><td>5,336</td><td>1,742</td><td>35.7</td><td></td><td>9.3%</td><td>.0%</td><td>3</td><td>广发期货</td><td>7,012</td><td>1,682</td><td></td><td>34.5</td><td>12.3%</td><td>-0.1%</td></tr><tr><td>4</td><td>中信建投</td><td>6,553</td><td>4,413</td><td>4</td><td>长江期货</td><td>3,542</td><td>20</td><td>0.4</td><td></td><td>6.2%</td><td>-2.0%</td><td>4</td><td>东证期货</td><td>4,162</td><td>533</td><td>10.9</td><td></td><td>7.3%</td><td>-1.1%</td></tr><tr><td>5</td><td>银河期货</td><td>5,062</td><td>3,517</td><td>5</td><td>永安期货</td><td>3,368</td><td>797</td><td>16.3</td><td></td><td>5.9%</td><td>-0.1%</td><td>5</td><td>银河期货</td><td>3,118</td><td>668</td><td>13.7</td><td></td><td>5.5%</td><td>-0.2%</td></tr><tr><td>6</td><td>招商期货</td><td>3,664</td><td>1,038</td><td>6</td><td>东证期货</td><td>2,591</td><td>1,477</td><td>30.3</td><td></td><td>4.5%</td><td>0.5%</td><td>6</td><td>格林大华</td><td>2,466</td><td>817</td><td></td><td>16.8</td><td>4.3%</td><td>0.5%</td></tr><tr><td>7</td><td>永安期货</td><td>2,448</td><td>724</td><td>7</td><td>中金财富</td><td>2,270</td><td>734</td><td></td><td>15.1</td><td></td><td>4.0%</td><td>0.4%</td><td>7</td><td>海通期货</td><td>2,369</td><td>233</td><td>4.8</td><td>4.1%</td><td>-0.8%</td></tr><tr><td>8</td><td>平安期货</td><td>2,035</td><td>792</td><td>8</td><td>国投期货</td><td>2,102</td><td>323</td><td></td><td>6.6</td><td></td><td>3.7%</td><td>-0.4%</td><td>8</td><td>永安期货</td><td>2,207</td><td>1,565</td><td></td><td>3.9%</td><td>1.5%</td></tr><tr><td>9</td><td>广发期货</td><td>1,972</td><td>641</td><td>9</td><td>瑞达期货</td><td>1,886</td><td>251</td><td></td><td>5.1</td><td></td><td>3.3%</td><td>-0.5%</td><td>9</td><td>宏源期货</td><td>1,712</td><td>694</td><td></td><td>3.0%</td><td>0.6%</td></tr><tr><td>10</td><td>华泰期货</td><td>1,504</td><td>995</td><td>10</td><td>银河期货</td><td>1,273</td><td>744</td><td></td><td>15.3</td><td></td><td>2.2%</td><td>0.3%</td><td>10</td><td>华泰期货</td><td>1,532</td><td>65</td><td></td><td>2.7%</td><td>-0.7%</td></tr><tr><td></td><td>前五席位</td><td>49,312</td><td>21,857</td><td></td><td>前五席位</td><td>27,030</td><td>4,851</td><td>99.5</td><td></td><td>47.2%</td><td>-4.0%</td><td></td><td>前五席位</td><td>37,295</td><td>7,518</td><td></td><td>154.2</td><td>65.2%</td><td>-3.7%</td></tr><tr><td></td><td>前十席位</td><td>60,935</td><td>26,047</td><td></td><td>前十席位</td><td>37,152</td><td>8,380</td><td>171.8</td><td></td><td>64.9%</td><td>-3.1%</td><td></td><td>前十席位</td><td>47,581</td><td>10,892</td><td></td><td>223.3</td><td>83.2%</td><td>-3.5%</td></tr><tr><td></td><td>前二十席</td><td>71,083</td><td>30,941</td><td></td><td>前二十席</td><td>47,229</td><td>11,362</td><td>233.0</td><td></td><td>82.6%</td><td>-2.2%</td><td></td><td>前二十席</td><td>54,271</td><td>12,815</td><td></td><td>262.8</td><td>94.9%</td><td>-1.2%</td></tr></table> # 五年期国债期货持仓情况 五年期国债期货2603合约持仓情况 <table><tr><td>名次</td><td>会员名称</td><td>成交量</td><td>前上日增减</td><td>名次</td><td>会员名称</td><td>持买单量</td><td>+/-（手）</td><td colspan="2">持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td>名次</td><td>会员名称</td><td>持卖单量</td><td>+/-（手）</td><td colspan="2">持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td></tr><tr><td>1</td><td>中信期货</td><td>15,928</td><td>-16,518</td><td>1</td><td>中信期货</td><td>7,773</td><td>-1,45</td><td>-</td><td>4.3</td><td>23.5%</td><td>6.2%</td><td>1</td><td>国泰君安</td><td>7,703</td><td>-4,201</td><td>-44.5</td><td>23.3%</td><td></td><td>0.7%</td></tr><tr><td>2</td><td>国泰君安</td><td>11,644</td><td>-5,711</td><td>2</td><td>平安期货</td><td>5,947</td><td>401</td><td></td><td>5.2</td><td>18.0%</td><td>7.6%</td><td>2</td><td>宏源期货</td><td>4,278</td><td>-1,073</td><td>-11.4</td><td>2.9%</td><td></td><td>2.8%</td></tr><tr><td>3</td><td>东证期货</td><td>7,956</td><td>-11,078</td><td>3</td><td>招商期货</td><td>2,686</td><td>-1,63</td><td>-</td><td>3.7</td><td>8.1%</td><td>-0.3%</td><td>3</td><td>东证期货</td><td>3,784</td><td>-1,031</td><td>-10.9</td><td>11.4%</td><td></td><td>2.3%</td></tr><tr><td>4</td><td>招商期货</td><td>6,474</td><td>-2,544</td><td>4</td><td>国泰君安</td><td>2,478</td><td>-1,71</td><td>-</td><td>6.6</td><td>7.5%</td><td>-0.2%</td><td>4</td><td>平安期货</td><td>3,328</td><td>-1,280</td><td>-13.6</td><td>10.1%</td><td></td><td>1.3%</td></tr><tr><td>5</td><td>平安期货</td><td>4,203</td><td>-1,612</td><td>5</td><td>申银万国</td><td>2,192</td><td>-437</td><td></td><td>4.6</td><td>6.6%</td><td>1.6%</td><td>5</td><td>中信期货</td><td>2,544</td><td>-603</td><td>-6.4</td><td>7.7%</td><td></td><td>1.7%</td></tr><tr><td>6</td><td>银河期货</td><td>3,773</td><td>-1,619</td><td>6</td><td>东证期货</td><td>2,191</td><td>-313</td><td></td><td>9.7</td><td>6.6%</td><td>0.7%</td><td>6</td><td>申银万国</td><td>2,182</td><td>-453</td><td>-4.8</td><td>6.6%</td><td></td><td>1.6%</td></tr><tr><td>7</td><td>中泰期货</td><td>3,264</td><td>137</td><td>7</td><td>宏源期货</td><td>847</td><td>-367</td><td></td><td>4.9</td><td>2.6%</td><td>0.1%</td><td>7</td><td>银河期货</td><td>1,914</td><td>-852</td><td>-9.0</td><td>5.8%</td><td></td><td>0.5%</td></tr><tr><td>8</td><td>中信建投</td><td>3,020</td><td>-1,821</td><td>8</td><td>中信建投</td><td>800</td><td>-343</td><td></td><td>3.9</td><td>2.4%</td><td>-0.7%</td><td>8</td><td>华泰期货</td><td>1,575</td><td>-811</td><td>-8.6</td><td>4.8%</td><td></td><td>0.2%</td></tr><tr><td>9</td><td>海通期货</td><td>2,741</td><td>-2,762</td><td>9</td><td>银河期货</td><td>721</td><td>-1,889</td><td></td><td>-2.6</td><td>2.2%</td><td>-1.4%</td><td>9</td><td>招商期货</td><td>1,564</td><td>-2,173</td><td>-23.0</td><td>4.7%</td><td></td><td>-2.4%</td></tr><tr><td>10</td><td>华泰期货</td><td>2,125</td><td>-388</td><td>10</td><td>民生期货</td><td>571</td><td>46</td><td></td><td>0.5</td><td>1.7%</td><td>0.7%</td><td>10</td><td>海通期货</td><td>685</td><td>-191</td><td>-2.0</td><td>2.1%</td><td></td><td>0.4%</td></tr><tr><td></td><td>前五席位</td><td>46,205</td><td>-37,463</td><td></td><td>前五席位</td><td>21,076</td><td>-4,625</td><td></td><td>-49.0</td><td>63.8%</td><td>14.1%</td><td></td><td>前五席位</td><td>21,637</td><td>-8,188</td><td>-86.8</td><td>65.4%</td><td></td><td>7.7%</td></tr><tr><td></td><td>前十席位</td><td>61,128</td><td>-43,916</td><td></td><td>前十席位</td><td>26,206</td><td>-7,991</td><td></td><td>-84.7</td><td>79.3%</td><td>12.4%</td><td></td><td>前十席位</td><td>29,557</td><td>-12,668</td><td>-134.2</td><td>89.4%</td><td></td><td>8.1%</td></tr><tr><td></td><td>前二十席</td><td>76,442</td><td>-52,524</td><td></td><td>前二十席</td><td>29,994</td><td>-11,856</td><td></td><td>-125.6</td><td>90.7%</td><td>8.3%</td><td></td><td>前二十席</td><td>32,220</td><td>-15,286</td><td>-162.0</td><td>97.5%</td><td></td><td>2.8%</td></tr></table> 五年期国债期货2606合约持仓情况 <table><tr><td>名次</td><td>会员名称</td><td>成交量</td><td>前上日增减</td><td>名次</td><td>会员名称</td><td>持买单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td>名次</td><td>会员名称</td><td>持卖单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td></tr><tr><td>1</td><td>中信期货</td><td>41,384</td><td>9,649</td><td>1</td><td>东证期货</td><td>28,032</td><td>424</td><td>4.5</td><td>18.1%</td><td>-3.4%</td><td>1</td><td>中信期货</td><td>26,281</td><td>3,484</td><td>36.9</td><td>17.0%</td><td>-0.8%</td></tr><tr><td>2</td><td>国泰君安</td><td>26,105</td><td>8,720</td><td>2</td><td>中信期货</td><td>27,217</td><td>3,054</td><td>32.4</td><td>17.6%</td><td>-1.3%</td><td>2</td><td>国泰君安</td><td>21,155</td><td>5,530</td><td>58.6</td><td>13.7%</td><td>1.5%</td></tr><tr><td>3</td><td>东证期货</td><td>18,424</td><td>-2,009</td><td>3</td><td>国泰君安</td><td>14,918</td><td>3,581</td><td>37.9</td><td>9.6%</td><td>0.8%</td><td>3</td><td>银河期货</td><td>14,067</td><td>945</td><td>10.0</td><td>9.1%</td><td>-1.1%</td></tr><tr><td>4</td><td>银河期货</td><td>11,304</td><td>2,259</td><td>4</td><td>银河期货</td><td>6,534</td><td>931</td><td>9.9</td><td>4.2%</td><td>-0.1%</td><td>4</td><td>东证期货</td><td>12,476</td><td>1,160</td><td>12.3</td><td>8.1%</td><td>-0.8%</td></tr><tr><td>5</td><td>招商期货</td><td>9,377</td><td>-1,355</td><td>5</td><td>中金财富</td><td>5,161</td><td>1,244</td><td>13.2</td><td>3.3%</td><td>0.3%</td><td>5</td><td>华泰期货</td><td>9,106</td><td>1,235</td><td>13.1</td><td>5.9%</td><td>-0.3%</td></tr><tr><td>6</td><td>中信建投</td><td>7,388</td><td>1,082</td><td>6</td><td>平安期货</td><td>4,981</td><td>506</td><td>5.4</td><td>3.2%</td><td>-0.3%</td><td>6</td><td>广发期货</td><td>8,952</td><td>1,017</td><td>10.8</td><td>5.8%</td><td>-0.4%</td></tr><tr><td>7</td><td>华泰期货</td><td>6,657</td><td>3,232</td><td>7</td><td>中信建投</td><td>4,790</td><td>1,057</td><td>11.2</td><td>3.1%</td><td>0.2%</td><td>7</td><td>平安期货</td><td>7,215</td><td>2,012</td><td>21.3</td><td>4.7%</td><td>0.6%</td></tr><tr><td>8</td><td>平安期货</td><td>5,066</td><td>-2,819</td><td>8</td><td>华泰期货</td><td>4,238</td><td>1,492</td><td>15.8</td><td>2.7%</td><td>0.5%</td><td>8</td><td>招商期货</td><td>6,143</td><td>2,348</td><td>24.9</td><td>4.0%</td><td>-3.2%</td></tr><tr><td>9</td><td>海通期货</td><td>3,492</td><td>1,311</td><td>9</td><td>渤海期货</td><td>3,631</td><td>1,156</td><td>12.2</td><td>2.3%</td><td>-2.4%</td><td>9</td><td>国投期货</td><td>5,346</td><td>1,266</td><td>13.4</td><td>3.4%</td><td>0.3%</td></tr><tr><td>10</td><td>广发期货</td><td>2,827</td><td>1,274</td><td>10</td><td>光大期货</td><td>3,085</td><td>279</td><td>3.0</td><td>2.0%</td><td>-0.2%</td><td>10</td><td>和融期货</td><td>4,437</td><td>100</td><td>1.1</td><td>2.9%</td><td>-0.5%</td></tr><tr><td></td><td>前五席位</td><td>106,594</td><td>17,264</td><td></td><td>前五席位</td><td>81,862</td><td>9,234</td><td>97.8</td><td>52.8%</td><td>-4.2%</td><td></td><td>前五席位</td><td>83,085</td><td>12,354</td><td>130.9</td><td>53.6%</td><td>-1.5%</td></tr><tr><td></td><td>前十席位</td><td>132,024</td><td>21,344</td><td></td><td>前十席位</td><td>102,587</td><td>13,724</td><td>145.4</td><td>66.2%</td><td>-3.2%</td><td></td><td>前十席位</td><td>115,178</td><td>19,097</td><td>202.3</td><td>74.3%</td><td>-0.7%</td></tr><tr><td></td><td>前二十席</td><td>152,597</td><td>21,156</td><td></td><td>前二十席</td><td>125,635</td><td>18,124</td><td>192.0</td><td>81.1%</td><td>-3.5%</td><td></td><td>前二十席</td><td>140,505</td><td>22,440</td><td>237.8</td><td>90.7%</td><td>-2.0%</td></tr></table> # 十年期国债期货持仓情况 十年期国债期货2603合约持仓情况 <table><tr><td>名次</td><td>会员名称</td><td>成交量</td><td>前上日增减</td><td>名次</td><td>会员名称</td><td>持买单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td>名次</td><td>会员名称</td><td>持卖单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td></tr><tr><td>1</td><td>中信期货</td><td>51,124</td><td>-0,878</td><td>1</td><td>中信期货</td><td>16,000</td><td>-8.77</td><td>-95.3</td><td>18.2%</td><td>0.9%</td><td>1</td><td>国泰君安</td><td>14,578</td><td>-2,354</td><td>-25.5</td><td>16.6%</td><td>4.8%</td></tr><tr><td>2</td><td>国泰君安</td><td>24,658</td><td>1,356</td><td>2</td><td>国泰君安</td><td>12,435</td><td>-11.22</td><td>-121.3</td><td>14.2%</td><td>-2.3%</td><td>2</td><td>东证期货</td><td>13,790</td><td>-5,425</td><td>-58.9</td><td>15.7%</td><td>2.3%</td></tr><tr><td>3</td><td>东证期货</td><td>21,411</td><td>-7,300</td><td>3</td><td>平安期货</td><td>7,376</td><td>-1,507</td><td>-16.3</td><td>8.4%</td><td>2.2%</td><td>3</td><td>中信期货</td><td>8,796</td><td>-6,744</td><td>-73.2</td><td>10.0%</td><td>0.8%</td></tr><tr><td>4</td><td>招商期货</td><td>16,028</td><td>2,631</td><td>4</td><td>招商期货</td><td>5,620</td><td>-155</td><td>-1.7</td><td>6.4%</td><td>2.4%</td><td>4</td><td>宏源期货</td><td>7,058</td><td>-3,575</td><td>-38.8</td><td>8.0%</td><td>0.6%</td></tr><tr><td>5</td><td>渤海期货</td><td>11,873</td><td>7,768</td><td>5</td><td>银河期货</td><td>5,351</td><td>-3,203</td><td>-34.3</td><td>6.1%</td><td>0.1%</td><td>5</td><td>平安期货</td><td>6,833</td><td>-2,021</td><td>-21.9</td><td>7.8%</td><td>1.6%</td></tr><tr><td>6</td><td>银河期货</td><td>9,897</td><td>4,117</td><td>6</td><td>东证期货</td><td>4,666</td><td>-6,643</td><td>-72.3</td><td>5.3%</td><td>-2.6%</td><td>6</td><td>银河期货</td><td>5,688</td><td>-4,429</td><td>-48.1</td><td>6.5%</td><td>0.6%</td></tr><tr><td>7</td><td>海通期货</td><td>8,204</td><td>-42</td><td>7</td><td>中信建投</td><td>3,492</td><td>-2,323</td><td>-25.3</td><td>4.0%</td><td>-0.1%</td><td>7</td><td>招商期货</td><td>5,358</td><td>-11,741</td><td>-127.1</td><td>6.1%</td><td>5.8%</td></tr><tr><td>8</td><td>华闻期货</td><td>7,048</td><td>-5,038</td><td>8</td><td>华泰期货</td><td>3,279</td><td>-1,989</td><td>-21.6</td><td>3.7%</td><td>0.1%</td><td>8</td><td>华泰期货</td><td>3,898</td><td>-1,550</td><td>-16.8</td><td>4.4%</td><td>0.6%</td></tr><tr><td>9</td><td>华泰期货</td><td>5,899</td><td>2,128</td><td>9</td><td>宝城期货</td><td>2,725</td><td>311</td><td>3.4</td><td>3.1%</td><td>1.4%</td><td>9</td><td>中银期货</td><td>3,675</td><td>-313</td><td>-3.4</td><td>4.2%</td><td>1.4%</td></tr><tr><td>10</td><td>五矿期货</td><td>5,339</td><td>2,405</td><td>10</td><td>永安期货</td><td>2,711</td><td>-441</td><td>-4.4</td><td>3.1%</td><td>0.9%</td><td>10</td><td>中信建投</td><td>2,433</td><td>-241</td><td>-2.6</td><td>2.8%</td><td>0.9%</td></tr><tr><td></td><td>前五席位</td><td>125,094</td><td>3,577</td><td></td><td>前五席位</td><td>46,782</td><td>-24,858</td><td>-269.7</td><td>53.3%</td><td>-0.6%</td><td></td><td>前五席位</td><td>51,055</td><td>-20,119</td><td>-218.3</td><td>58.2%</td><td>2.7%</td></tr><tr><td></td><td>前十席位</td><td>161,481</td><td>7,147</td><td></td><td>前十席位</td><td>63,655</td><td>-35,954</td><td>-390.1</td><td>72.5%</td><td>2.4%</td><td></td><td>前十席位</td><td>72,107</td><td>-38,393</td><td>-416.6</td><td>82.2%</td><td>4.4%</td></tr><tr><td></td><td>前二十席</td><td>196,406</td><td>9,421</td><td></td><td>前二十席</td><td>76,456</td><td>-42,592</td><td>-462.1</td><td>87.1%</td><td>3.3%</td><td></td><td>前二十席</td><td>83,895</td><td>-48,214</td><td>-523.1</td><td>95.6%</td><td>1.7%</td></tr></table> 十年期国债期货2606合约持仓情况 <table><tr><td>名次</td><td>会员名称</td><td>成交量</td><td>前上日增减</td><td>名次</td><td>会员名称</td><td>持买单量</td><td>+/-（手）</td><td colspan="2">持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td>名次</td><td>会员名称</td><td>持卖单量</td><td>+/-（手）</td><td colspan="2">持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td></tr><tr><td>1</td><td>中信期货</td><td>55,680</td><td>17,196</td><td>1</td><td>中信期货</td><td>50,859</td><td>10,077</td><td colspan="2">109.4</td><td>20.1%</td><td>2.3%</td><td>1</td><td>中信期货</td><td>34,937</td><td>6,993</td><td colspan="2">75.9</td><td>13.8%</td><td>-1.5%</td></tr><tr><td>2</td><td>国泰君安</td><td>30,205</td><td>14,632</td><td>2</td><td>国泰君安</td><td>42,059</td><td>14,307</td><td colspan="2">155.4</td><td>16.6%</td><td>1.4%</td><td>2</td><td>东证期货</td><td>34,116</td><td>8,832</td><td colspan="2">95.9</td><td>13.5%</td><td>-0.4%</td></tr><tr><td>3</td><td>东证期货</td><td>25,845</td><td>2,073</td><td>3</td><td>东证期货</td><td>27,745</td><td>8,067</td><td colspan="2">87.6</td><td>10.9%</td><td>0.2%</td><td>3</td><td>银河期货</td><td>17,966</td><td>4,119</td><td colspan="2">44.7</td><td>7.1%</td><td>-0.5%</td></tr><tr><td>4</td><td>渤海期货</td><td>24,929</td><td>9,520</td><td>4</td><td>银河期货</td><td>11,051</td><td>3,722</td><td colspan="2">40.4</td><td>4.4%</td><td>0.3%</td><td>4</td><td>国泰君安</td><td>17,470</td><td>4,534</td><td colspan="2">49.2</td><td>6.9%</td><td>-0.2%</td></tr><tr><td>5</td><td>招商期货</td><td>13,710</td><td>9,467</td><td>5</td><td>华泰期货</td><td>9,586</td><td>2,531</td><td colspan="2">27.5</td><td>3.8%</td><td>-0.1%</td><td>5</td><td>招商期货</td><td>13,435</td><td>12,911</td><td colspan="2">140.2</td><td>5.3%</td><td>#N/A</td></tr><tr><td>6</td><td>银河期货</td><td>9,429</td><td>3,798</td><td>6</td><td>中金财富</td><td>7,993</td><td>3,081</td><td colspan="2">33.5</td><td>3.2%</td><td>0.5%</td><td>6</td><td>平安期货</td><td>12,540</td><td>3,758</td><td colspan="2">40.8</td><td>4.9%</td><td>0.1%</td></tr><tr><td>7</td><td>华泰期货</td><td>7,173</td><td>2,924</td><td>7</td><td>中信建投</td><td>7,608</td><td>2,349</td><td colspan="2">25.5</td><td>3.0%</td><td>0.1%</td><td>7</td><td>宏源期货</td><td>11,943</td><td>4,557</td><td colspan="2">49.5</td><td>4.7%</td><td>0.7%</td></tr><tr><td>8</td><td>五矿期货</td><td>6,522</td><td>266</td><td>8</td><td>永安期货</td><td>6,645</td><td>893</td><td colspan="2">9.7</td><td>2.6%</td><td>0.5%</td><td>8</td><td>华泰期货</td><td>10,148</td><td>2,220</td><td colspan="2">24.1</td><td>4.0%</td><td>-0.3%</td></tr><tr><td>9</td><td>平安期货</td><td>6,467</td><td>1,537</td><td>9</td><td>光大期货</td><td>5,930</td><td>1,694</td><td colspan="2">18.4</td><td>2.3%</td><td>0.0%</td><td>9</td><td>广发期货</td><td>9,894</td><td>1,474</td><td colspan="2">16.0</td><td>3.9%</td><td>-0.7%</td></tr><tr><td>10</td><td>中信建投</td><td>6,082</td><td>2,694</td><td>10</td><td>兴证期货</td><td>4,852</td><td>66</td><td colspan="2">0.7</td><td>1.9%</td><td>0.7%</td><td>10</td><td>国投期货</td><td>9,794</td><td>1,854</td><td colspan="2">20.1</td><td>3.9%</td><td>-0.5%</td></tr><tr><td></td><td>前五席位</td><td>150,369</td><td>52,888</td><td></td><td>前五席位</td><td>141,300</td><td>38,704</td><td colspan="2">420.3</td><td>55.7%</td><td>-0.4%</td><td></td><td>前五席位</td><td>117,924</td><td>37,389</td><td colspan="2">406.1</td><td>46.5%</td><td>-2.1%</td></tr><tr><td></td><td>前十席位</td><td>186,042</td><td>64,107</td><td></td><td>前十席位</td><td>174,328</td><td>46,787</td><td colspan="2">508.1</td><td>68.8%</td><td>-1.1%</td><td></td><td>前十席位</td><td>172,243</td><td>51,252</td><td colspan="2">556.6</td><td>67.9%</td><td>-1.2%</td></tr><tr><td></td><td>前二十席</td><td>224,683</td><td>76,361</td><td></td><td>前二十席</td><td>206,681</td><td>54,099</td><td colspan="2">587.5</td><td>81.5%</td><td>-2.2%</td><td></td><td>前二十席</td><td>222,382</td><td>63,328</td><td colspan="2">687.8</td><td>87.7%</td><td>-0.8%</td></tr></table> # 三十年期国债期货持仓情况 三十年期国债期货2603合约持仓情况 <table><tr><td>名次</td><td>会员名称</td><td>成交量</td><td>前上日增减</td><td>名次</td><td>会员名称</td><td>持买单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td>名次</td><td>会员名称</td><td>持卖单量</td><td>+/-（手）</td><td>持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td></tr><tr><td>1</td><td>中信期货</td><td>28,581</td><td>-14.914</td><td>1</td><td>国泰君安</td><td>10,800</td><td>-3.005</td><td>-34.3</td><td>19.7%</td><td>0.4%</td><td>1</td><td>国泰君安</td><td>9,277</td><td>-4.385</td><td>-49.5</td><td>16.9%</td><td>-2.2%</td></tr><tr><td>2</td><td>国泰君安</td><td>20,059</td><td>1,351</td><td>2</td><td>招商期货</td><td>8,815</td><td>-305</td><td>-3.4</td><td>16.0%</td><td>3.3%</td><td>2</td><td>招商期货</td><td>7,324</td><td>6</td><td>0.1</td><td>13.3%</td><td>3.1%</td></tr><tr><td>3</td><td>东证期货</td><td>9,836</td><td>-8.844</td><td>3</td><td>银河期货</td><td>4,782</td><td>-585</td><td>-6.3</td><td>8.7%</td><td>1.2%</td><td>3</td><td>银河期货</td><td>6,283</td><td>-1.295</td><td>-14.6</td><td>11.4%</td><td>0.9%</td></tr><tr><td>4</td><td>五矿期货</td><td>9,371</td><td>2,223</td><td>4</td><td>平安期货</td><td>3,908</td><td>-480</td><td>-5.3</td><td>7.1%</td><td>1.0%</td><td>4</td><td>中信期货</td><td>4,556</td><td>-1.665</td><td>-18.8</td><td>8.3%</td><td>-0.4%</td></tr><tr><td>5</td><td>海通期货</td><td>7,357</td><td>-2.16</td><td>5</td><td>中信期货</td><td>3,213</td><td>-2.813</td><td>-31.5</td><td>5.8%</td><td>-2.6%</td><td>5</td><td>宏源期货</td><td>3,985</td><td>-752</td><td>-8.5</td><td>7.3%</td><td>0.6%</td></tr><tr><td>6</td><td>银河期货</td><td>7,103</td><td>18</td><td>6</td><td>东证期货</td><td>2,246</td><td>-702</td><td>-7.3</td><td>4.1%</td><td>0.0%</td><td>6</td><td>东证期货</td><td>3,120</td><td>-405</td><td>-4.5</td><td>5.7%</td><td>0.8%</td></tr><tr><td>7</td><td>国金期货</td><td>3,846</td><td>-54</td><td>7</td><td>华泰期货</td><td>2,165</td><td>94</td><td>1.1</td><td>3.9%</td><td>1.0%</td><td>7</td><td>平安期货</td><td>3,068</td><td>294</td><td>3.3</td><td>5.6%</td><td>1.7%</td></tr><tr><td>8</td><td>华泰期货</td><td>3,280</td><td>-230</td><td>8</td><td>申银万国</td><td>1,505</td><td>-161</td><td>-1.2</td><td>2.7%</td><td>0.4%</td><td>8</td><td>申银万国</td><td>2,855</td><td>57</td><td>0.6</td><td>5.2%</td><td>1.3%</td></tr><tr><td>9</td><td>广发期货</td><td>3,028</td><td>-1.04</td><td>9</td><td>宝城期货</td><td>1,502</td><td>10</td><td>0.1</td><td>2.7%</td><td>0.7%</td><td>9</td><td>国金期货</td><td>2,296</td><td>-1.395</td><td>-15.3</td><td>4.2%</td><td>-1.0%</td></tr><tr><td>10</td><td>华闻期货</td><td>2,876</td><td>-8.239</td><td>10</td><td>国金期货</td><td>1,382</td><td>-1.285</td><td>-14.3</td><td>2.5%</td><td>-1.2%</td><td>10</td><td>宝城期货</td><td>1,891</td><td>-463</td><td>-5.2</td><td>3.4%</td><td>0.2%</td></tr><tr><td></td><td>前五席位</td><td>75,204</td><td>-22,336</td><td></td><td>前五席位</td><td>31,518</td><td>-7,196</td><td>-81.3</td><td>57.4%</td><td>3.3%</td><td></td><td>前五席位</td><td>31,425</td><td>-8,088</td><td>-91.4</td><td>57.2%</td><td>2.0%</td></tr><tr><td></td><td>前十席位</td><td>95,337</td><td>-31,945</td><td></td><td>前十席位</td><td>40,318</td><td>-9,241</td><td>-104.4</td><td>73.4%</td><td>1.6%</td><td></td><td>前十席位</td><td>44,655</td><td>-10,001</td><td>-113.0</td><td>81.3%</td><td>5.0%</td></tr><tr><td></td><td>前二十席</td><td>112,424</td><td>-36,340</td><td></td><td>前二十席</td><td>47,759</td><td>-12,372</td><td>-139.8</td><td>86.9%</td><td>0.3%</td><td></td><td>前二十席</td><td>51,873</td><td>-12,636</td><td>-142.7</td><td>94.4%</td><td>2.8%</td></tr></table> 三十年期国债期货2606合约持仓情况 <table><tr><td>名次</td><td>会员名称</td><td>成交量</td><td>前上日增减</td><td>名次</td><td>会员名称</td><td>持买单量</td><td>+/-（手）</td><td colspan="2">持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td><td>名次</td><td>会员名称</td><td>持卖单量</td><td>+/-（手）</td><td colspan="2">持仓名义金额变化（亿元）</td><td>持仓占比</td><td>占比变化</td></tr><tr><td>1</td><td>中信期货</td><td>27,043</td><td>-485</td><td>1</td><td>中信期货</td><td>20,434</td><td>1,910</td><td colspan="2">21.6</td><td>16.8%</td><td>-1.4%</td><td>1</td><td>东证期货</td><td>18,314</td><td>1,968</td><td colspan="2">22.3</td><td>15.1%</td><td>-1.0%</td></tr><tr><td>2</td><td>国泰君安</td><td>15,034</td><td>2,427</td><td>2</td><td>国泰君安</td><td>14,946</td><td>1,869</td><td colspan="2">21.2</td><td>12.3%</td><td>-0.6%</td><td>2</td><td>银河期货</td><td>15,255</td><td>1,576</td><td colspan="2">17.8</td><td>12.6%</td><td>-0.9%</td></tr><tr><td>3</td><td>东证期货</td><td>14,999</td><td>-733</td><td>3</td><td>东证期货</td><td>12,116</td><td>879</td><td colspan="2">10.0</td><td>10.0%</td><td>-1.1%</td><td>3</td><td>中信期货</td><td>14,077</td><td>1,519</td><td colspan="2">17.2</td><td>11.6%</td><td>-0.8%</td></tr><tr><td>4</td><td>银河期货</td><td>7,925</td><td>2,362</td><td>4</td><td>银河期货</td><td>8,393</td><td>1,519</td><td colspan="2">17.2</td><td>6.9%</td><td>0.1%</td><td>4</td><td>国金期货</td><td>6,465</td><td>2,996</td><td colspan="2">33.9</td><td>5.3%</td><td>1.9%</td></tr><tr><td>5</td><td>海通期货</td><td>7,773</td><td>2,356</td><td>5</td><td>中信建投</td><td>4,648</td><td>-334</td><td colspan="2">-3.8</td><td>3.8%</td><td>-1.1%</td><td>5</td><td>华泰期货</td><td>6,458</td><td>903</td><td colspan="2">10.2</td><td>5.3%</td><td>-0.1%</td></tr><tr><td>6</td><td>国金期货</td><td>6,815</td><td>4,869</td><td>6</td><td>华泰期货</td><td>4,186</td><td>1,385</td><td colspan="2">15.7</td><td>3.4%</td><td>0.7%</td><td>6</td><td>广发期货</td><td>5,988</td><td>1,170</td><td colspan="2">13.3</td><td>4.9%</td><td>0.2%</td></tr><tr><td>7</td><td>华闻期货</td><td>5,755</td><td>1,420</td><td>7</td><td>平安期货</td><td>4,118</td><td>-442</td><td colspan="2">-5.0</td><td>3.4%</td><td>-1.1%</td><td>7</td><td>国泰君安</td><td>5,761</td><td>1,891</td><td colspan="2">21.4</td><td>4.7%</td><td>0.9%</td></tr><tr><td>8</td><td>华泰期货</td><td>3,806</td><td>133</td><td>8</td><td>海通期货</td><td>3,825</td><td>2,440</td><td colspan="2">27.6</td><td>3.2%</td><td>1.2%</td><td>8</td><td>宏源期货</td><td>4,367</td><td>846</td><td colspan="2">9.6</td><td>3.6%</td><td>0.1%</td></tr><tr><td>9</td><td>中信建投</td><td>3,243</td><td>-85</td><td>9</td><td>永安期货</td><td>3,790</td><td>270</td><td colspan="2">3.1</td><td>3.1%</td><td>-0.3%</td><td>9</td><td>国投期货</td><td>4,267</td><td>116</td><td colspan="2">1.3</td><td>3.5%</td><td>-0.6%</td></tr><tr><td>10</td><td>平安期货</td><td>3,227</td><td>121</td><td>10</td><td>国投期货</td><td>3,304</td><td>1,742</td><td colspan="2">19.7</td><td>2.7%</td><td>0.5%</td><td>10</td><td>宝城期货</td><td>4,010</td><td>1,371</td><td colspan="2">15.5</td><td>3.3%</td><td>-0.4%</td></tr><tr><td></td><td>前五席位</td><td>72,774</td><td>5,927</td><td></td><td>前五席位</td><td>60,537</td><td>5,843</td><td colspan="2">66.2</td><td>49.9%</td><td>-4.0%</td><td></td><td>前五席位</td><td>60,569</td><td>8,962</td><td colspan="2">101.5</td><td>49.9%</td><td>-2.2%</td></tr><tr><td></td><td>前十席位</td><td>95,620</td><td>12,385</td><td></td><td>前十席位</td><td>79,760</td><td>11,238</td><td colspan="2">127.3</td><td>65.7%</td><td>-3.1%</td><td></td><td>前十席位</td><td>84,962</td><td>14,356</td><td colspan="2">162.6</td><td>70.0%</td><td>-0.5%</td></tr><tr><td></td><td>前二十席</td><td>115,592</td><td>15,327</td><td></td><td>前二十席</td><td>98,076</td><td>14,997</td><td colspan="2">169.9</td><td>80.8%</td><td>-1.0%</td><td></td><td>前二十席</td><td>106,327</td><td>17,553</td><td colspan="2">198.8</td><td>87.6%</td><td>-0.3%</td></tr></table> # 作者承诺 本人具有中国期货业协会授予的期货从业资格证书，本人承诺以勤勉的职业态度，独立、客观地出具本报告。本报告清晰准确地反映了本人的研究观点。本人不曾因，不因，也将不会因本报告中的具体推荐意见或观点而直接或间接接收到任何形式的报酬。 # 免责声明 本报告由银河期货有限公司（以下简称银河期货，投资咨询业务许可证号30220000）向其机构或个人客户（以下简称客户）提供，无意针对或打算违反任何地区、国家、城市或其它法律管辖区域内的法律法规。除非另有说明，所有本报告的版权属于银河期货。未经银河期货事先书面授权许可，任何机构或个人不得更改或以任何方式发送、传播或复印本报告。 本报告所载的全部内容只提供给客户做参考之用，并不构成对客户的投资建议。银河期货认为本报告所载内容及观点客观公正，但不担保其内容的准确性或完整性。客户不应单纯依靠本报告而取代个人的独立判断。本报告所载内容反映的是银河期货在最初发表本报告日期当日的判断，银河期货可发出其它与本报告所载内容不一致或有不同结论的报告，但银河期货没有义务和责任去及时更新本报告涉及的内容并通知客户。银河期货不对因客户使用本报告而导致的损失负任何责任。 银河期货不需要采取任何行动以确保本报告涉及的内容适合于客户。银河期货建议客户独自进行投资判断。本报告并不构成投资、法律、会计或税务建议或担保任何内容适合客户，本报告不构成给予客户个人咨询建议。 银河期货版权所有并保留一切权利。 # 联系方式 # 银河期货有限公司 研究所 北京：北京市朝阳区建国门外大街8号楼31层 上海：上海市虹口区东大名路501号白玉兰广场28层 网址：www.yhqh.com.cn 电话：400-886-7799 # 研究员：沈忱 期货从业证号：F3035416 投资咨询证号：Z0015142 Tel.: 021-65789257 邮箱：shenchen_qh@chinastock.com.cn